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IndustryUpdate

ANNOUNCEMENTS tion. The API Integration Runner-Up was Elavon Inc.'s
Converge gateway (formerly Virtual Merchant).
ATMIA supports higher cash-reporting threshold Flywire raises $100 million

The ATM Industry Association supports the Counter Flywire gained $100 million in new venture funding.
Terrorism and Illicit Finance Act, H.R. 6068 proposal The Series-D round was led by Temasek Holdings
to increase the threshold for requiring completion of Private Ltd., an investment company headquartered
a Currency Transaction Report (CTS) from $10,000 to in Singapore, and joined by existing Flywire investors
$30,000. Banks must complete CTRs when facilitating including Bain Capital Ventures and F-Prime Capital
cash transactions above the threshold, which creates Partners. Flywire noted it has processed over $8 billion
additional burden and expense for legitimate transac- for over 1,400 clients in business, education and health-
tions between legitimate businesses, ATMIA noted, add- care via its global payment network and processing
ing that the $10,000 threshold first implemented under platform, and it plans to use the investment to accelerate
the Bank Secrecy Act has not changed in nearly 50 years. growth.
Authorize.Net recognized by TSG IRIS CRM completes Tech Hub rollout

The Strawhecker Group selected Authorize.Net as its Brooklyn, N.Y.-based IRIS CRM, an all-in-one payment
API Integration Payment Gateway Award winner. processing customer relationship management provider
"Powered by TSG's Gateway Enterprise Metrics (GEM) that supports over 250,000 active merchants via more
platform, the firm is recognizing Authorize.Net due to than 100 registered ISOs, officially rolled out its Tech
their excellent performance across an assessment of their Hub community-based chat platform. According to IRIS
API and developer tools," TSG stated. As part of GEM, CRM, by engaging with other ISOs, valuable informa-
TSG delivers an assessment of application programming tion and best practices can be shared through real-time
interface set, developer tools, sandbox and emulator by chat, which the company hopes will foster a closer-knit
conducting an integration into the gateway via an ecom- ISO community.
merce application, as well as benchmarking documenta-

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always what you get.

Transparency builds better

relationships, and you can’t
expect to grow your business

with anything less. We believe in
ownership through partnership.

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