The Green Sheet Online Edition
October 13, 2025 • 25:10:01
Industry Update
ANNOUNCEMENTS
Electronic Payments invests in Mega Payments
Electronic Payments, Inc. (EPI) made a strategic growth investment in Mega Payments, a Michigan-based merchant services firm serving 2,000+ clients across diverse risk profiles. The deal extends Mega's processing capabilities, global reach (North America, Europe, UK), and access to EPI's ecosystem—Exatouch POS, TableTurn POS, ProCharge, plus Cygma, EPI's processor.
Positioned for ISOs, agents and merchants, the partnership marries Mega's transparent membership pricing with EPI's developer-first platform. Solutions span card, ACH/eCheck, fraud, funding and chargeback management, with integrations to Shopify, WooCommerce, Magento, BigCommerce, Authorize.net and NMI.
Lovell Minnick invests in Valor PayTech
Valor PayTech secured an investment from funds managed by Lovell Minnick Partners to accelerate growth. Founded in 2020 with offices in Jericho, New York, and Chennai, India, Valor delivers POS software and payment tech spanning a gateway, virtual terminal, mobile app, CRM, updater, customer engagement and smart terminals. Through robust APIs, 400+ partners integrate to serve nearly 300,000 merchants.
Valor PayTech CEO Eric Bernstein remains in place, with plans for strategic investments and acquisitions while preserving independence and culture. LMP's support is expected to enhance capabilities and efficiency for merchants, ISVs, ISOs and channels.
NABR honors HPS/PayMedix
HPS/PayMedix was named one of Milwaukee's 2025 Best and Brightest Companies to Work For by NABR, honoring organizations with strong performance and innovative HR. An independent research firm evaluated companies on compensation, benefits, wellness, engagement, development, recruiting, recognition, communication, inclusion, work-life balance, community responsibility and leadership.
HPS/PayMedix CEO Tom Policelli cited a care-for-others culture and policies such as flexible schedules, hybrid work, generous PTO and holidays, volunteer opportunities, and competitive benefits. The HPS provider network with PayMedix is designed to simplify healthcare payments for patients, providers, employers and TPAs via interest-free plans, provider payments, lower administrative costs and improved access.
RESEARCH
Banks are missing out on billions in payments revenue
Cornerstone Advisors' "Monetizing Faster Payments," commissioned by Matera, finds three-quarters of U.S. deposit accounts enable real-time payments, yet 80 percent of institutions remain receive-only without monetization plans. Eleven percent expect to monetize B2B instant payments in three years; 6 percent foresee retail revenue. The report spotlights four growth paths: QR code bill pay (cut card fees up to 40 percent), payroll/workforce disbursements (instant pay, reimbursements), B2B supplier payments (replace couriers/wires), and treasury/liquidity tools (real-time sweeps, JIT transfers). Use cases span commercial, small-business and treasury clients across restaurant, healthcare and transportation.
Personiv finds leaders focusing on agility, technology, talent
Personiv's Executive Outlook Pulse Survey of 290 senior finance leaders depicts a landscape of constant change where agility is essential. Macroeconomic disruption dominates: 64 percent of respondents reported an "extremely significant" impact, led by interest rates and global trade.
Despite uncertainty, over half have increased spending on technology, headcount and operating expenses; nearly a third plan further investment. Finance teams devote 20 to 40+ hours weekly to external forces. In addition, AI adoption is accelerating—70 percent already use it (compliance, payroll, expenses), with 25 percent planning adoption within 12 months. Forecasting accuracy tops 2025 priorities. Smaller firms boost headcount/opex; larger enterprises emphasize cost optimization and tech. Ongoing risks include talent shortages, cybersecurity and regulation.
1 in 4 Brits struggle to cancel subscriptions
A new Opinium survey commissioned by Recharge.com revealed that 23 percent of UK adults failed to cancel at least one subscription in the past year, losing an average of £123.40 ($165.50). Younger and lower-income consumers were disproportionately affected, with 18 to 34-year-olds 163 percent more likely to experience failed cancellations.
While prepaid card users saw higher losses overall, they also gained more control over spending by preventing unexpected charges once balances run out. Recharge.com CEO Günther Vogelpoel said prepaid payment options offer flexibility and protection in an increasingly subscription-driven economy, helping consumers manage digital expenses and avoid being locked into unwanted services.
ATO attacks surge 122% in fintech, Sift finds
Sift's third quarter 2025 Digital Trust Index reported a 122 percent year-over-year surge in account takeover (ATO) attacks targeting fintech and finance, with travel and ticketing platforms up 56 percent. Despite growing threats, many consumers remain unaware or careless: 24 percent reuse compromised passwords. Total ATO losses are projected to hit $17 billion in 2025, researchers found. Emerging AI commerce agents are expected to worsen the problem, enabling fraudsters to automate attacks faster than ever.
Generational divides shape trust in AI-driven transactions, with younger users more accepting. As 75 percent of consumers would abandon breached sites, Sift urges businesses to strengthen identity trust and fraud defenses.
Credit cards gain momentum in Canadian
Technology Strategies International's latest report found credit card payments surpassed 50 percent of PCE in 2020 and are projected to reach 64 percent by 2029. Credit card transactions are expected to exceed 50 percent of consumer payments by 2027. From 2014 to 2024, credit card value grew 8.6 percent CAGR versus 3.3 percent for debit. Cards now lead most channels—contact/contactless, online, mobile, wearables—except online bill payments and preauthorized payments, though the latter is rising.
Debit represents 17 percent of personal consumption expenditure value and 29 percent of transactions, holding steady. In addition, mobile bill payments were 74 percent of online bill value in 2024; about 25 percent of adults used crypto; in-store mobile and wearables will grow fastest, researchers found.
PARTNERSHIPS
Bluefin, VGS partner on omnichannel payment management
Bluefin and VGS formed a strategic partnership to deliver processor-agnostic, omnichannel payment security by combining Bluefin's PCI-validated point-to-point encryption (P2PE) with VGS's payment tokenization. The collaboration is designed to enable merchants to unify in-store and digital transactions securely, reduce vendor lock-in and simplify PCI compliance while maintaining control of their payment data. VGS's platform provides secure tokenization, data portability and compliance support across multiple payment service providers; Bluefin's PointConex platform extends this protection to physical payments through a no-code, card-present orchestration model. Together, the companies aim to set a new standard for seamless, future-ready payment infrastructure across ecommerce, mobile and in-store channels.
Google, BHN to launch Gift Card Mall in Google Play
Blackhawk Network will partner with Google Play to launch a Gift Card Mall inside the Play Store, enabling users to discover, purchase and send leading-brand and BHN Originals gift cards with in-app checkout and delivery by email or text. Reaching Google Play's 2.5 billion monthly users in 190+ markets, the initiative taps a digital gift card market projected to near $1.5 trillion by 2032; BHN reports a 7 percent year-over-year rise in planned 2025 purchases. Cards will surface via search, in-app placements and personalized promos, creating a powerful channel for brands and a seamless, trusted experience for shoppers, the partners said.
Moto, NCR Atleos extend collaboration
NCR Atleos disclosed that Moto has extended its use of the NCR Atleos Cashzone Network, which now spans more than 16,000 ATMs across the UK. Moto, the country's leading motorway service area operator, provides cash access at 45 key service stations via Cashzone, supporting convenient, secure self-service banking for travelers. The renewed relationship underscores customer choice, accessibility and inclusivity through reliable, intuitive ATM experiences, the partners stated. Anthony Parks, vice president of sales for Europe and the Middle East, said Cashzone's high availability and functionality enable operators like Moto to efficiently deploy innovations and deliver leading experiences, preserving payment choice for consumers.
NetSuite, BILL partner to accelerate AP processes
Oracle NetSuite and BILL formed a strategic partnership to embed BILL-powered payment automation in NetSuite Intelligent Payment Automation, helping U.S. customers accelerate accounts payable, increase efficiency and reduce risk. With quick activation and support for all U.S. banks, customers can pay from existing accounts and leverage BILL's network of 8+ million businesses for seamless vendor connections. Fully embedded in NetSuite, the system of record, payments are requested, tracked and reconciled in real time. AI features include bill capture, intelligent payment proposals using agentic workflows, bill matching and payment reconciliation. The solution is available now to U.S. NetSuite customers.
Paymentology, Enjaz sign MOU
Paymentology signed an MOU with Saudi Arabia's Enjaz to accelerate digital payments innovation across the Kingdom. Enjaz said it will leverage Paymentology's cloud-based, highly configurable issuing and processing platform and launch prepaid, debit and virtual cards integrated with existing remittance services to over 200 countries. The collaboration is designed to enable tokenization for Apple Pay, Google Pay and Mada Pay, along with multilevel security controls, advanced analytics and real-time decisioning. Deployed locally on Oracle and soon Google Cloud, the infrastructure is expected to ensure speed and compliance with Saudi regulations. The partnership supports Vision 2030's goal of a cash-lite economy with electronic payments near 80 percent of retail transactions
Rain, Lithic aim to speed growth of stablecoin payments
Rain, a provider of stablecoin-powered payments, partnered with Lithic to expand global card infrastructure and accelerate innovation in programmable payments. The collaboration combines Rain's stablecoin-native card issuance platform with Lithic's modern issuing and processing technology to enable scalable, secure and flexible card programs worldwide. With more than 150 partners across 150+ countries, Rain will now extend its reach through Lithic's globally certified platform, offering real-time authorization, fraud prevention and developer-friendly integration. Together, the companies aim to give fintechs and enterprises greater choice and speed in launching stablecoin-powered payment solutions to fuel the next phase of digital payments innovation.
Relay, Circle K team up to simplify fleet driver experience
Relay Payments partnered with Circle K to bring its secure digital payment platform to more than 500 truck-accessible Circle K locations nationwide. The collaboration enables professional drivers to pay for fuel, diesel exhaust fluid and in-store purchases directly through Relay, either at the pump or inside the store. Fleets can retain existing Circle K discounts or access Relay's negotiated pricing. The partnership supports Circle K's goal of simplifying the driver experience while expanding Relay's network to more than 3,000 fueling sites serving over 500,000 drivers. Both companies said they emphasize speed, security and modernizing payment management for fleets across multiple over-the-road services.
ACQUISITIONS
Bakkt completes the sale of loyalty business
Bakkt completed the sale of its loyalty business to Project Labrador Holdco, a wholly owned subsidiary of Roman DBDR Technology Advisors. The divestiture marks Bakkt's transition to a pure-play digital asset infrastructure platform aligned with its mission to build the backbone of next-generation markets. Bakkt CEO Akshay Naheta said the move streamlines operations, lowers costs, strengthens the balance sheet and sharpens focus. With a leaner structure and clearer path to long-term profitability, Bakkt will double down on Bitcoin, tokenization, stablecoin payments and AI-driven finance.
G2 Risk Solutions finalizes EverC transaction
G2 Risk Solutions completed its acquisition of EverC, expanding global reach and adding proven AI-powered risk capabilities. The combined company now offers a comprehensive suite of AI- and analyst-driven tools for banks, acquirers and online marketplaces to combat fraud, scams, and illegal or unsafe transactions. Offerings include Smart Scan (an AI marketplace risk assessment) plus proprietary risk intelligence, merchant onboarding, continuous monitoring, scam detection, automated risk management, education and professional services. G2RS President Rochelle Blease said EverC's marketplace expertise will fortify ecommerce defenses. G2RS CEO Brian Longe noted the company now serves nearly every major payment provider worldwide from offices in the United States, Europe, India and Israel.
Lovell Minnick acquires fintech Merchant Industry
Lovell Minnick Partners will acquire a majority stake in Merchant Industry, with founders retaining a substantial minority. Upon closing, industry veteran Vaden Landers will become CEO. Founded in 2007 and based in Plantation, Fla., and Long Island City, N.Y., Merchant Industry provides payment acceptance to U.S. SMBs, serving 15,000+ merchants through nearly 500 channel partners. Merchant Industry offers partner tools and in-person/online POS solutions. Backed by LMP's capital and expertise, it plans to scale via organic growth, expanded distribution, and strategic M&A while preserving its core strengths. MAPP Advisors advised Merchant Industry; Vedder Price served as counsel; Dechert advised LMP.
APPOINTMENTS
LawFi appoints Doug Hathaway
LawFi appointed Doug Hathaway as its co-founder, chief technology officer and chief product officer. Hathaway, a veteran fintech innovator, previously co-founded DadeSystems (acquired by Versapay) where he built a leading payments automation platform serving Fortune 500 companies and major U.S. banks. As Versapay’s cash-application leader, he integrated engineering and go-to-market teams, helping double revenue post-acquisition.
Now returning to his startup roots, Hathaway will spearhead LawFi’s technology and product strategy as it expands beyond its home base in Florida. Passionate about financial inclusion, he aims to leverage his deep SaaS and payments expertise to help LawFi close the "access to justice" gap through innovative legal-fee lending.
Aurangzaib Khan joins Tribe Payments
Tribe Payments named Aurangzaib Khan general manager for Middle East & Africa. A 20-year payments veteran, Khan previously held roles at Amazon Payments Services, Mastercard, Visa, MCB Bank and Bank Alfalah, and led the launch of Bahrain's open-banking super-app Beyon Money. He will spearhead Tribe's regional growth, client partnerships and product adoption across MEA. The company recently opened a Dubai International Financial Centre office as part of its broader Middle East expansion, following its APAC HQ launch in Singapore less than a year ago.
Iliad Solutions celebrates two senior hires
Iliad Solutions added two veteran specialists amid 2025 growth and rising demand for its payment testing and certification services. Sam Mensah joins as product consultant manager after 25+ years at ACI Worldwide and Diebold Nixdorf. He'll support sales, advise customers and ensure Iliad's t3 platform reflects user needs. Steve Edwards becomes client solutions consultant, bringing 30+ years across cards and payments leading projects for banks and tech providers. He'll design and implement testing and certification programs and liaise with schemes and partners to meet compliance and performance goals. Iliad COO Jill Pyper said the hires deepen expertise and strengthen customer-aligned services. 
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