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IndustryUpdate

agement team to continue to build and grow the busi- the entire lifecycle of the payment, and introduces
ness over the long term," said Mr. Lei Zhang, Hillhouse enhanced payment performance features with a high-
Chairman and CEO. speed payment notification and dispatching service,
according to TreasuryXpress.
MobileCause ends Series B effort
USAT's Turner honored
MobileCause Inc., a digital fundraising and commu-
nications platform for nonprofit organizations, raised Automatic Merchandiser magazine named Jim Turner, Vice
$15 million in Series B funding led by Level Equity President of Deployment Services at USA Technologies
Management LLC, a technology-focused growth equity Inc., one of its "Industry Pros to Know." The award
firm based in New York City. MobileCause stated it will highlights Turner's dedication to USA Technologies'
use the capital to implement an aggressive product inno- growth as well as payment technology innovation for
vation and expansion strategy in the United States and the self-service retail market, the magazine noted. "Jim
internationally. Level Equity founder and partner Sarah Turner is an innovator moving the industry forward
Sommer also joined MobileCause's board of directors. as he goes above and beyond the call of duty to bring
viable and intelligent vending solutions to the table. He
NexTec CEO honored by Sage is very deserving of this award," said Adrienne Zimmer,
Managing Editor for Automatic Merchandiser.
Sage Group PLC business partner NexTec Group Inc.
and NexTec CEO Eric Frank were recognized as the Sage
CEO Circle 2016 winners of the Sage X3 new product RESEARCH
sales category for North America. The awards program
was designed to reward and recognize outstanding per- DHgate.com reports on ecommerce
formance of the top business partners from around the
world who serve customers, recommend products and Business-to-business, cross-border ecommerce market-
advocate for Sage, the company noted. place DHgate.com presented its 2016 holiday season
ecommerce sales data. The data included the 10 highest
PSCU lauds EMV effort selling product categories. Topping the list were cell
phones and accessories; consumer electronics; and home
Public Service Credit Union reported that since the EMV and garden. The top countries for gross merchandise
liability shift, it has seen a 20 percent reduction in fraud. volume (GMV) were the United States, United Kingdom
The credit union attributes this to the implementation of and Canada. Italy was the country with the greatest
EMV. PSCU also deployed support for instant issuance GMV increase. Cell phones and consumer electronics
of EMV cards, enabling PSCU to provide EMV cards to ranked one and two, respectively, as top-selling product
members inside their branches. At the same time, PSCU types, researchers noted.
noted an increase in card-not-present fraud rates and has
identified tools and resources to address this problem Market Track report studies holiday shopping
for its member clients.
In its annual report, titled Looking Back: A Review of the
Sterling earns ninth consecutive honor 2016 Holiday Shopping Season, Market Track LLC stated
that deeper discounts and shifts in advertising strategy
Sterling Payment Technologies LLC said it was recog- paved the way for 2016 holiday sales that had not been
nized by Business Solutions Magazine as one of the Best as robust since 2005. The report highlights key trends
Channel Vendors for 2017, and this year marks the ninth that helped retailers and brands compete this season. It
consecutive year that Sterling has received the honor in also indicated that the 2016 Christmas Creep (the prac-
the category of payment processing. Business Solutions tice of introducing year-end holiday sales before Black
Magazine partnered with Penn State University to con- Friday, which is the traditional start of the season) cou-
duct the survey and analyze the results. More than 5,300 pled with the way the holiday fell on the 2016 calendar
validated votes were cast, and only the top 5 percent of prompted retailers to provide highly competitive online
vendors were recognized. prices throughout the season.

TreasuryXpress launches enhanced C2Treasury Mercator releases online payment insights
TreasuryXpress reported that it released Version 16.11 U.S. Consumers and Debit: Signs of Displacement, the lat-
of its cloud enterprise treasury management solution, est Insight Summary Report from Mercator Advisory
C2Treasury. C2Treasury provides companies access to Group, disclosed findings from an online survey con-
enterprise-level cash visibility, liquidity management, ducted in June 2016. Results revealed that 65 percent
bank connectivity, payments workflow and self-service of all respondents and 78 percent of young adults aged
custom reporting capabilities. The latest version allows 18 to 34 used online payment services such as PayPal,
treasurers to identify payment processing trends across Google Checkout, Pay by Amazon and others via online

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