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IndustryUpdate

ANNOUNCEMENTS Recharge pilots B2B service, gifting

Recharge, a prepaid payments provider, launched a
Bluefin company TECS gains pilot B2B service enabling businesses to buy prepaid
Girocard certification products, including gift cards, in bulk. This service,
Recharge stated, aids companies in rewarding employ-
Bluefin's Austrian subsidiary, TECS Payment Solutions, ees with digital prepaid options, offering both cost sav-
secured the German Banking Industry Committee’s ings and reduced packaging waste. Recharge's digital
Girocard certification based on NEXO v4.0 standards. catalog boasts over 15,300 products from 800+ global
This enables the extension of the TECS payment plat- brands; businesses can thus achieve cost efficiency and
form into Germany, featuring Android SmartPOS termi- reduce their environmental impact, the company noted,
nals from Newland Payment Technology. TECS offers a adding that its B2B venture offers a reliable platform for
cloud-based payments platform-as-a-service. With the businesses' prepaid requirements.
Girocard's prominence in Germany, TECS’ certification
introduces a fresh platform equipped with advanced
SmartPOS devices, enhancing Girocard payment pro- RESEARCH
cessing, Bluefin stated.
EMVCo reports on EMV cards,
Cable joins BaaS Association issues MFA guidelines

Cable, a financial crime effectiveness testing platform, Data published by EMVCo indicates that at the end of
joined The Banking-as-a-Service (BaaS) Association, a 2022, 12.8 billion EMV Chip cards were in global circu-
central hub for banks and fintechs engaged in BaaS. lation—a 7 percent increase compared to the previous
As regulatory focus on BaaS intensifies, Cable offers 12 months. EMVCo data also shows that 69 percent of
specialized technologies for oversight and assurance in all issued cards are EMV-enabled, and 93 percent of all
this sector, and joining the BaaS Association, which rep- card-present transactions conducted globally used EMV
resents over 80 percent of BaaS sponsor banks, solidifies Chip technology. Joy Huang, EMVCo executive com-
its dedication to promoting financial crime compliance mittee chair, stated, “EMV Chip technology provides a
within BaaS, the company noted. In addition, Cable foundation for reliable, familiar and trusted contact and
added, this membership aligns Cable with a dynamic contactless payments, and these benefits are reflected in
network of organizations, fostering collaboration and the consistent and sustained growth in deployment and
the exchange of best practices to shape the future of adoption around the world.”
BaaS banking.

Andy Chau honored as technology leader In other EMVCo news, EMVCo introduced security
guidelines for the development of multi-factor authen-
PAX Technology CEO Andy Chau was distinguished tication (MFA) in payment authentication. MFA, which
as one of Jacksonville Business Journal’s 2023 Technology uses multiple identity verification methods like PINs
Leaders of the Year. Recognized for his significant influ- and biometrics, is designed to enhance security. As MFA
ence in both his company and the local business scene, usage in payments grows, EMVCo said, its guidelines
Chau, with PAX since 2011, established Jacksonville, aim to mitigate potential security threats, and this ini-
Fla., as its regional hub. His leadership transitioned tiative allows solution providers to test their offerings,
PAX from providing payment terminals to deliver- ensuring alignment with industry standards. The guide-
ing advanced hardware solutions backed by superior lines are accessible at www.emvco.com.
devices and software, PAX stated, adding that Chau
introduced the industry's inaugural secure Android Juniper projects massive growth for BaaP
payment terminal and pioneered the semi-integration A new study from payments and fintech research firm
payment method, benefiting businesses globally. Juniper Research found global revenue from banking-

Ecommpay enters US market as-a-platform (BaaP) services will increase to $49 bil-
lion globally in 2028, from $4 billion in 2023. The study
Ecommpay, an international payment service provider, reasoned that BaaP can help traditional banks regain
expanded its services to the United States, offering local their competitive edge against neobanks. Through col-
acquiring and fraud prevention. Ecommpay said that laboration with innovative vendors, banks can offer new
while the U.S. market faces up to 30 percent sales losses services from partners, including embedded insurance,
from chargebacks, Ecommpay provides its merchants lifestyle offers with leading brands, or access to HR ser-
protection from all fraud-related chargebacks. This vices for small businesses, Juniper stated.
shield reduces risks like low sales, costly arbitration
fees, and operational expenses, Ecommpay added, not- RBR: Non-bank ATM deployers find growth
ing that it also covers all merchant expenses related to Recent research by RBR Data Services indicates a global
this protection with a minor fee per transaction. rise in the independent ATM deployer (IAD) sector,

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