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IndustryUpdate

ANNOUNCEMENTS FuturePay honored with four awards

FuturePay Inc. was honored with four awards at this
AmEx settles CFPB concerns year's Golden Bridge Awards recognizing leading com-
panies across major industries globally. FuturePay took
American Express Company agreed with the Consumer home a gold award for Milestone of the Year, silver for
Financial Protection Bureau to resolve issues that grew Company Growth of the Year, and bronze awards for
out of a previously disclosed internal review of its card Company of the Year and FuturePay CEO Bobbi Leach
product offerings in Puerto Rico, the U.S. Virgin Islands as Executive of the Year in the Accounting, Banking,
and the Pacific Territories. A consent order was signed Financial, and Insurance category.
by the parties and the CFPB acknowledged that AmEx
took responsibility for its errors and independently pro- GreenMed enhances cannabis transactions security
vided restitution to its customers.
GreenMed launched a cryptocurrency-based app that
BofA Merchant Services supports U.S. military enables users to pre-purchase legal marijuana for pickup
at dispensaries. The app utilizes electronic payment
In collaboration with the Employer Support of the Guard processing technology in conjunction with Ethereum
and Reserve, a Department of Defense office, Bank blockchain to execute credit and debit card, and digital
of America Merchant Services signed a Statement of currency transactions. GreenMed-issued debit cards will
Support for the Guard and Reserve pledging to honor the also enable merchants to securely withdraw accumu-
Uniformed Services Employment and Re-Employement lated funds directly from an ATM, or make online and
Rights Act, provide tools for managing employees in ser- POS purchases.
vice, and recognize service members and their families.
iPayment settles with Grimstads
Cayan achieves Worldpay certification
iPayment Holdings Inc. and iPayment Inc. voluntarily
Cayan LLC achieved chip card certification with dismissed the New York state litigation against Carl
Worldpay US. The new certification marks the latest in a and Jessica Grimstad for alleged expense abuses with-
series of EMV (Europay, Mastercard and Visa) certifica- out demanding any payment by the couple. As part of
tions for Cayan, which include Chase, Vantiv, First Data, the settlement, the company has agreed to retain Mr.
and Elavon. The Cayan Genius Platform will provide Grimstad, its founder and former CEO, as special advi-
Worldpay merchants with chip card gateway capabili- sor. Both sides agreed that it is in the best interests of all
ties and the ability to manage the entire customer experi- parties, and the company's numerous stakeholders and
ence across all locations while also protecting cardholder employees, to put the matter behind them.
data, Cayan stated.
NEACH unveils education campaign
Clearsettle joins EPA
The New England ACH Association launched a faster
The Emerging Payments Association welcomed payments education campaign aimed at encouraging
Clearsettle as a new member and lead sponsor of consumers to get into the habit of checking account
the association's annual awards. Clearsettle, based in balances at the close of business each day. According
London, offers a global white label payment gateway to NEACH, "Check@5"supports financial institutions in
that enables payment service providers to offer hun- making sure their customers keep apprised of account
dreds of payment methods in countries around the balances as the speed of payments improves. The cam-
world. Through membership in the EPA, Clearsettle paign includes a comprehensive toolkit for banks and
joins a community of innovators who aim to improve credit unions to leverage with their customers.
payments worldwide.
PayTabs secures $20 million investment
Douugh pilots AI banking solution
PayTabs secured a $20 million investment to support its
Douugh initiated beta pilot registrations for an artificial products and global expansion into 20 plus markets over
intelligence (AI)-powered financial platform guided by the next two years. The payments processor, founded
Sophie, a 24/7 digital personal assistant. Sophie's role in Saudi Arabia, plans to use the investment to fund
will be to offer organizational, coaching, financial fitness product development, including digital payments, and
and personal transaction assistance based on the user's engage in key strategic acquisitions to further expand its
unique situation. "We believe the future of banking is portfolio, as well as add 4,000 jobs globally.
about platform, data and identity," said Andy Taylor,
founder and Chief Executive Officer of Douugh.

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