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IndustryUpdate

will be honored during the 2018 NACHA Payments Raise secures Series C funding
Awards Luncheon to be held in San Diego on May 1. For
more information, visit payments.nacha.org/awards. Retail payment and gift card marketplace firm Raise
Marketplace Inc. raised $60 million in Series C funding
Netcents introduces own currency led by Accel, with participation from PayPal Holdings
Inc. and several existing investors. The new financing
Canada-based online payment processing platform brings the total capital raised by the company to more
NetCents Technology Inc. launched its own digital cur- than $147 million. Raise plans to use the new funds to
rency on Sept. 19. NetCents Currency will initially be develop its closed-loop mobile payment network, deepen
available to NetCents' registered users through a propri- its focus on the future of prepaid cards and build a world-
etary cryptocurrency exchange. "With our high usability class retail partnerships team.
and accessibility, we believe NetCents is positioned to
become the leading currency of choice for merchants," Shoppable earns patent for universal cart
said Clayton Moore, founder and CEO of NetCents.
Ecommerce technology developer Shoppable secured
NRF comments on South Dakota sales tax ruling a patent for a universal shopping cart technology that
enables multiretailer checkout, also known as universal
The National Retail Federation issued a statement that checkout, a scalable way to aggregate purchasing from
takes issue with a recent South Dakota Supreme Court multiple vendors into a single checkout.
ruling against a 2016 state law requiring merchants with
over $100,000 in sales or 200 transactions with state resi- "We see this patent as recognition for our leadership in
dents to collect sales tax. The court said the state cannot innovation for building what many consumers really
require out-of-state sellers to collect sales tax. The NRF want from ecommerce – the ability to buy what they
believes the ruling sets the stage for the U.S. Supreme discover wherever they are online," said Heather Marie,
Court to revisit the 1992 Quill decision requiring only founder and CEO of Shoppable. "With this patent now
sellers with a physical presence in states to collect sales in tow, we are excited to continue developing commerce
tax in those states. opportunities and licenses for platforms, social media and
digital media entities."
"It's time for Congress to pass a law that recognizes the
evolution in the retail industry over the past two-and- SignaPay unveils website, portal, cash discount pro-
half decades and say that online sellers should no longer gram
be given an unfair advantage over Main Street mer-
chants," said David French, NRF Senior Vice President SignaPay Ltd. launched a newly redesigned company
for Government Relations. The NRF supports pending website and partner portal. The site includes a fresh
legislation to pass the Remote Transactions Parity Act, layout with improved functionality and provides user-
which would allow states to require all out-of-state sellers friendly navigation for access to SignaPay's solutions,
to collect sales tax. resources, information and support, the company noted.
In addition, SignaPay introduced PayLo POS, a feder-
Pact settles with FTC ally compliant cash discount technology replete with
merchant business tools and an alternative to traditional
The Federal Trade Commission filed a complaint against fee-based card programs.
operators of the mobile app Pact, claiming the company
promised cash incentives when consumers met fitness
and nutrition goals, but didn't pay them and billed RESEARCH
customers without their consent. Pact operators agreed
to cease misrepresenting terms under which Pact will Aite scopes digital authentication market
charge or make payments to consumers; stop charging
without express, informed consent; and pay a $1.5 million An Aite Group LLC report, Digital Authentication: New
judgment. Opportunities to Enhance the Customer Journey, explores
merchant and financial institution (FI) initiatives to create
PAI pursues rebrand, expansion intuitive user experiences. The report outlines the various
digital channel fraud detection and authentication solu-
Payment Alliance International initiated a corporate tions, their pros and cons, and provides vendor mapping.
rebrand, adopting a new logo and visual identity, and It also offers advice on how FIs and merchants can evolve
repositioning its corporate messaging to fuel further their protective strategies.
growth, the company said. After 12 years in business,
PAI is currently the nation's largest privately held ATM ETA delivers financial inclusion paper
provider. "We're constantly charting new frontiers and
alliances to propel our business forward and advance The Electronic Transactions Association paper How
ATM technology," said John J. Leehy III, PAI President Fintech is Addressing the Financial Needs of the Underserved
and Chief Executive Officer. highlights how ETA members use technology to address

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