The Green Sheet Online Edition
August 11, 2025 • 25:08:01
Industry Update
ANNOUNCEMENTS
Finastra completes ISO 20022 migration
Finastra reported that 100 percent of its payments customers successfully migrated to the ISO 20022 standard for Fedwire transactions by the July 14, 2025 deadline. This positions clients at the forefront of payment modernization, enhancing operational efficiency, regulatory compliance and customer experience, the company stated. Finastra, which processes 25 percent of all U.S. Fedwire volume and over $7 trillion in daily payments globally, said it played a key role in guiding clients through the transition with minimal disruption. Industry experts affirmed that ISO 20022 adoption is a major step toward innovation, modernization and consistency in the global financial ecosystem.
InvoiceCloud named a Technology Top Workplace
InvoiceCloud was named a 2025 Top Workplace in the Technology industry by Energage, marking its fourth consecutive year receiving this honor. The recognition, based on employee feedback, highlights InvoiceCloud’s strong people-first culture and commitment to integrity, innovation and high performance. One of only 29 U.S. tech companies with 500–999 employees to receive this distinction, InvoiceCloud continues to earn national and regional recognition, including from USA TODAY and The Boston Globe. InvoiceCloud stated that for more than 3,200 customers in sectors like utilities, government and insurance, its SaaS platform enhances digital payments and customer engagement while reducing costs and streamlining operations.
The downside of processor-agnostic tech revealed
In his writing and presentations, Allen Kopelman, co-founder and CEO of Nationwide Payment Systems and producer of B2B Vault: the Biz to Biz Podcast, has been raising awareness about how processor-agnostic technology companies have been a staple of merchant services, until a wave of acquisitions changed the game. Companies that ISOs and merchant level salespeople (MLSs) introduced to their merchants are reneging on promises to never touch payment processing. Recently Kopelman explored the issue in detail in a webinar with Green Sheet Content Strategy Director Dale Laszig. It's available on YouTube at bit.ly/4mf5qoc.
Pyazli honored by Tampa Bay Business Journal
Payzli was named to the Tampa Bay Business Journal’s Fast 50 list, ranking 22nd among the region’s fastest-growing private companies. The recognition, judges said, reflects Payzli’s rapid growth and its innovative approach to payment processing. By addressing outdated industry practices, the company offers cutting-edge solutions, including AI-driven fraud management, instant merchant onboarding, real-time earnings for sales professionals and a proprietary CRM with daily residuals, the journal noted. With a focus on sectors like beauty and tattoo, and a strategic partnership with Visa Acceptance Solutions, Payzli said it is reshaping embedded payments.
RESEARCH
Ransomware attacks fall by almost half in Q2 2025
Ransomware attacks fell 6 percent from May to June 2025, and 43 percent from the first to the second quarter of the year, according to research by NCC Group. This is due to seasonal slowdowns and law enforcement crackdowns. Ransomware-as-a-service operation Qilin led with 60 attacks and now offers legal support to affiliates, highlighting the business-like evolution of ransomware. Industrial firms remained top targets, while consumer discretionary attacks dropped. North America saw 58 percent of June’s incidents. Experts warned that despite the decline, threat actors are evolving fast, and they advise adopting strong cyber defenses to counter increasingly sophisticated tactics.
B2B digital payments to reach $27.8 trillion by 2032
The B2B digital payments market, valued at $8 trillion in 2023, is projected to reach $27.8 trillion by 2032, growing at a CAGR of 16.79%, according to SNS Insider. Growth is fueled by rising demand for secure, real-time transactions, cloud adoption and cross-border ecommerce. Researchers noted that digital commerce dominates the market, while digital remittances show the fastest growth; the IT and telecom category leads in adoption, but retail is the fastest-growing sector. Asia-Pacific currently holds the largest market share due to rapid fintech adoption, while North America is expected to grow the fastest, driven by AI-based platforms and automated, real-time processing infrastructure, SNS Insider added.
PARTNERSHIPS
CRS selects AtData for new fraud finder solution
AtData, a provider of email intelligence and fraud prevention, stated that CRS selected its email validation data to power Fraud Finder, a new email-centric fraud detection solution. Fraud Finder enables credit and compliance teams to flag risk before a credit check or account creation by analyzing real-time email behavior signals. The API-ready tool helps detect synthetic IDs, account takeovers and transaction abuse, offering a cost-effective, configurable solution for early fraud prevention, AtData noted. Both companies emphasized that using email data enhances precision and flexibility compared to traditional identity tools, allowing faster, more accurate fraud detection at critical points in the customer journey.
Fiserv, TD Bank Group form strategic relationship
Fiserv Inc. established a multi-year strategic agreement with TD Bank Group, enabling TD Merchant Solutions to use Fiserv’s Clover POS technology. The deal strengthens Fiserv’s presence in Canada and expands Clover’s reach. Additionally, Fiserv will acquire a portion of TD’s Canadian merchant processing business, including 3,400 merchant relationships and 30,000 locations, which will migrate to Clover and Fiserv’s processing platform. Both companies emphasize the partnership’s value for small and midsize businesses. The transaction is expected to close later in 2025, pending customary conditions.
Ingenico, Aurus establish new AXIUM partnership
Ingenico and Aurus are working together to deliver a unified, future-proof payment solution that combines Aurus’ robust software with Ingenico’s AXIUM smart terminals. This collaboration streamlines in-person and online transactions for top global retailers, enhancing the customer experience, providing deeper data insights and ensuring advanced security, the partners stated, adding that the joint solution allows merchants to manage loyalty programs, digital receipts and checkout preferences from a single platform, as well as links online and in-store data for smarter business decisions, empowering businesses to modernize commerce while reducing hardware upgrades and operational complexity.
Samsung Wallet, Splitit team up on in-store installment payments
Splitit partnered with Samsung to integrate installment payments into Samsung Wallet, allowing users to pay over time using existing credit cards at in-store points of sale. This marks the first time installment functionality is built directly into Samsung Wallet, enabling flexible payments without new credit checks or applications, the partners stated. Rolled out July 25, 2025, to select U.S. states and Galaxy smartphones, the feature supports eligible Visa and Mastercard credit cards. The partnership aims to modernize in-store shopping by offering seamless, mobile-enabled installments, boosting consumer convenience and merchant sales.
ACQUISITIONS
Corpay to acquire Alpha Group
Corpay Inc. disclosed a $2.2 billion acquisition of Alpha Group International plc, a UK-based provider of B2B cross-border FX and alternative bank accounts. The deal, offering a 55 percent premium to Alpha’s May 1 share price, aims to expand Corpay’s customer base to include investment funds and digital currency providers. The acquisition, scheduled to close in the fourth quarter of 2025, is expected to enhance Corpay’s global reach and is projected to be earnings-accretive in 2026. Alpha holds $3 billion in client deposits. Both companies said they view the deal as a strategic fit, combining Corpay’s scale with Alpha’s technology and client relationships.
Waystar to acquire Iodine Software
Waystar formed a definitive agreement to acquire Iodine Software for $1.25 billion from shareholders led by Advent International. Iodine’s AI-powered clinical intelligence software will enhance Waystar’s healthcare payments platform, helping over 1 million providers reduce denials, automate tasks and boost financial performance, Waystar stated. The acquisition, expected to close by year-end 2025, will expand Waystar’s addressable market, accelerate AI innovation, and deepen relationships with leading health systems, the company affirmed, adding that Iodine’s subscription-based model and proprietary AI engine, IodineIQ, will integrate with Waystar AltitudeAI, improving automation in documentation, claims and denial prevention.
APPOINTMENTS
Hrishi Talwar signs on with Hawk
Hawk has appointed Hrishi Talwar as vice president of product, fraud. Talwar brings nearly 30 years of experience in financial services, risk management and product leadership to the company. He has held senior roles at Equifax, Fiserv and Vesta, where he shaped fraud, compliance and analytics strategies for institutions of all sizes. At Hawk, he will lead development of advanced fraud prevention solutions using technologies like large transaction models and agentic AI. Talwar sees this moment as a critical inflection point in fraud prevention and aims to drive innovation that enables real-time, efficient responses to financial crime across the industry. He joins Hawk’s growing U.S. team.
Electronic Merchant Systems selects Nano Short
Nathaniel "Nano" Short is now the chief revenue officer at Electronic Merchant Systems, bringing more than 15 years of experience in payments and fintech to the company. Known for transforming sales teams and driving scalable growth, Short previously served as senior vice president of global SMB sales at Paysafe, where he realigned sales structures for greater efficiency. He has held senior roles at other leading payment tech firms, consistently demonstrating impactful leadership and strategic clarity. At EMS, Short will oversee sales channel expansion and lead growth-focused initiatives.
Flexa hires Trey Swanson
Flexa appointed Trey Swanson as head of commercial to accelerate merchant adoption and global expansion. Swanson brings extensive fintech and payments experience to the company, having previously driven U.S. growth at Checkout.com and helped scale PayPal Braintree’s mid-market operations. At Flexa, he will lead growth, sales strategy and commercial partnerships as the company expands. CEO Daniel McCabe praised Swanson’s strategic and enterprise expertise, while Swanson expressed enthusiasm for advancing crypto and stablecoin adoption. 
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