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IndustryUpdate
• As the final holiday stretch approaches, the consumer shift to Forrester honors Adyen, First Data
e-commerce continues to drive demand for warehouse space.
According to analysts at PricewaterhouseCoopers, for each $1 Forrester Research Inc. recognized multichannel pay-
billion generated in online retail sales, 1 million square feet of ment provider Adyen and major global acquirer First
commercial space is needed to house products and operations to Data Corp. as leaders among companies participating
process online orders on a massive scale. PwC estimates ecom- in its latest evaluation. Results published in The Forrester
merce operations use a fifth more warehouse and distribution Wave: Global Commerce Payment Providers, Q4 2016 ranked
space than traditional brick-and-more retailers to accommodate Adyen highest in the Strategy category, and First Data
single-packaged items and broader assortment in products. earned top ranking in the Leader category, the report's
highest designation. "First Data is the trusted vendor
• Holiday cookie orders and other school-related items just got a of the world's largest global omnichannel merchants,"
lot easier for parents to purchase, thanks to the Activities pay- Forrester stated.
ment feature that has been added to the Remind platform.
Originally created for kindergarten through 12th grade teachers Citi opens developer hub
to broadcast communications to eager parents, Remind today
serves more than 60,000 schools and 2.9 million classrooms Citigroup Inc. reported that it launched its global API
where teachers no longer have to ask parents to fumble around Developer Hub to rapidly connect with developers
for spare change to pay for students' extracurricular activities. and enable them to build innovative client solutions.
Through this new application programming interface
• Counterfeit products globally continue to cause economic stress (API) hub, Citi will grant developers access to APIs
for brands that produce legitimate items. Understanding this, a across eight categories, including account management,
new smartphone app called SAFE is able to verify the authentic- peer-to-peer payments, money transfer to institutions,
ity of a product based on its fingerprint. Arjo Solutions' patented Citi rewards, investment purchases, and account autho-
Signoptic vision-based technology converts a product's texture rization, Citi stated.
into a unique digital signature using a proprietary algorithm, and
being non-reproducible, foils would-be thieves. Excel secures funding for credit facility
ANNOUNCEMENTS Great American Capital Partners LLC entered into an
agreement with Excel Corp. to provide a $25 million
360 Payments unveils automotive payment tool senior secured credit facility. Proceeds will be used to
refinance existing debt and provide additional liquid-
360 Payment Solutions Inc. launched Velox, a payment ity for future acquisitions. "Great American's flexible
processing and business modernization tool designed solution provides us with the necessary growth capital
for smaller, independent auto industry businesses. 360 to execute on our strategy of becoming a significant
Payments assists independent software vendors and merchant acquirer in the U.S. market," said Excel Chief
POS vendors serving the auto industry by providing Executive Officer T.A. "Kip" Hyde Jr.
chip card processing integration. The Velox solution
keeps POS companies out of scope of Payment Card Fattmerchant implements partner program
Industry (PCI) Data Security Standard (DSS) compli-
ance, and a single integration allows the POS to be Payment processing provider Fattmerchant Inc. launched
processor agnostic and process payments in multiple a partner program to help business professionals accel-
countries, the company stated. erate customer growth. The program encourages busi-
ness providers – including accountants, insurance bro-
14 kers, financial advisors, and business consultants – to
offer Fattmerchant's processing services to clients. The
program provides partners a top-tier affiliate program,
as well as tools and resources for marketing, customer
service, technical support and account management,
Fattmerchant noted.
FTC issues complaint against NetSpend
The Federal Trade Commission formally alleged prepaid
card company NetSpend Corp. repeatedly deceived con-
sumers about access to funds deposited on debit cards.
According to the complaint, NetSpend has led consum-
ers to believe they can store and access funds on reload-
able prepaid debit cards, but the funds have not been
accessible as promised. The FTC further alleged many
consumers could not access their funds, and as a result,
suffered severe hardships.
