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IndustryUpdate

ANNOUNCEMENTS Constellation Payments recognized by Elavon

Global gateway and merchant services provider
[24]7.ai breach impacts major brands Constellation Payments Inc. was honored for the second
consecutive year as one of the fastest-growing partners
On April 4, 2018, predictive intelligence firm [24]7.ai, during Elavon's 2017 Merchant Services Provider (MSP)
which serves major global brands, released a statement Conference. Constellation ranked second in the Northeast
that it had notified clients of an incident potentially affect- Region for the highest number of merchant account acti-
ing the online customer payment information of said vations, the firm noted.
client companies, which began Sept. 26, 2017 and was dis-
covered and contained on Oct. 12, 2017. Clients notified E la Carte rebrands to Presto
that have since come forward in public statements include
Best Buy, Delta Air Lines, Kmart and Sears. E la Carte, a restaurant ecommerce and payment technol-
ogy provider, is now doing business as Presto. The name,
Arias-Perez sentenced for credit card fraud which means "fast" in Italian, better represents the ide-
als to which the business aspires, the firm noted. "We've
A Florida man was sentenced to 108 months in fed- evolved tremendously since we were founded out of
eral prison for possession of device making equipment. MIT in 2008, and we have decided the time is right for a
Government investigators found that Alejandro Arias- consistent name for both our company and our product –
Perez led a nationwide scheme that involved installing Presto," said Presto CEO and founder Rajat Suri.
skimmers into gas pumps to steal credit card information
and providing those numbers to individuals who pro- FAPS rises in Nilson ranking
duced fraudulent credit cards that were given to individ-
uals who purchased merchandise which was sent to him. The Nilson Report ranked First American Payment Systems
L.P. among the top 20 in its 2018 annual ranking of the
BitPay closes $40 million funding round largest U.S. merchant acquirers. FAPS jumped from No.
21 last year to No. 17. In 2017, FAPS processed more than
Global blockchain payments provider BitPay closed a $23 billion in transactions, representing over 220,000 mer-
$40 million extended Series B funding round. New inves- chants and 276 million transactions, the company noted,
tors included Menlo Ventures, G Squared and Nimble adding that it has focused on technology and support of
Ventures, among others. "BitPay had a record 2017 as independent software vendors.
we processed over $1 billion in bitcoin payments," said
Stephen Pair, BitPay CEO. "We brought on these new LLR invests in Midigator
investors who can help BitPay scale globally to meet cus-
tomer demand." LLR Partners closed a $30 million minority growth equi-
ty investment in Midigator
LLC, a firm that offers a
fully automated software
platform designed to pre-
vent, analyze and manage
payment card chargebacks
to mitigate costs. Midigator
founder and CEO Corey
Baggett said, "This partner-
ship is another step towards
our goal of becoming the
global standard for charge-
back management and fraud
mitigation."

Mobey Forum launches
IoT Expert Group
Mobey Forum, a global
industry association sup-
porting banking and finan-
cial institution digital
financial service initiatives,
formed an expert group to

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