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IndustryUpdate

Specifically, reward-based promotions can drive better Onfido, Travel Money Club team up
purchase intent and sales lift without damaging brands'
images from discounting, analysts found. Identity verification provider Onfido stated it joined
forces with currency exchange platform Travel Money
Holiday shoppers want engaging experiences Club to deliver "a modern identity verification experi-
ence." According to the partners, Onfido's identity veri-
5 Bazaarvoice Inc.'s research report Unwrap Consumer fication technology allows Travel Money Club to offer
Insights For Your Best Holiday Season highlights consumer next-day currency exchange to more users as it contin-
shopping trends during the year-end holiday season. ues to scale; Onfido enables speedy, secure and scalable
Based on a survey of more than 2,500 U.S. consum- user onboarding via Travel Money Club's mobile app.
ers, Bazaarvoice analyzed what motivates shoppers to
buy during the holidays. The report, which found that ACQUISITIONS
unique experiences emerged as an important factor in
holiday shopping, details when shoppers prefer to shop,
what inspires them, and what they want from online and PayPal completes iZettle acquisition
in-store experiences.
PayPal Holdings confirmed the completion of its buy-
Few Americans feel equipped to protect their data out of Swedish mobile payments startup iZettle for $2.2
billion. The acquisition is designed to increase PayPal's
In a recent TransUnion survey, seventy-five percent in-store presence in 11 markets across Europe and Latin
of respondents indicated they have become more con- America, bringing it to hundreds of thousands of brick-
cerned about data breaches in the past year. More than and-mortar retail locations globally.
50 percent think they are vulnerable to identity theft
and credit card fraud; more than 75 percent know some- Thales, Gemalto merger receives
one who has been affected by a data breach or fraud. U.S. regulatory approval
However, only 15 percent of respondents feel highly
confident they have the requisite tools to protect them- Thales, a provider of advanced data security solutions,
selves. and international digital security company Gemalto
revealed they received Regulatory Clearance from the
Putting fraud data to work Committee on Foreign Investment in the United States
for their proposed merger. This brings the companies six
CyberSource, a Visa solution, published Tackling fraud: of the 14 clearances required for their merger to proceed.
the role of machine learning for today and beyond, a free
white paper created to increase understanding of the
role machine learning plays in fraud detection for digi- APPOINTMENTS
tal commerce now and in the future. "While machine
learning relies on complex statistical methods and high- First Choice taps Hopkins
power computing, it's essentially a very simple concept,"
report authors wrote. It is available for download at First Choice Bancorp appointed Lynn M. Hopkins as its
www.cybersource.com/content/dam/cybersource/Tackling_ new executive vice president and chief financial officer.
Fraud_Machine_Learning_WhitePaper.pdf. Hopkins has more than 25 years' experience in the finan-
cial services industry including 15 years of executive
PARTNERSHIPS experience at PacWest Bancorp. Robert Franko, president
and CEO of First Choice, said her well rounded skill set
and leadership abilities "are well suited to handle" the
Ecomdash, Bonanza.com for strategic partnership finance department's increased responsibilities.

Ecomdash, an ecommerce management system, part- Swart joins Nomanini board
nered with the Bonanza Marketplace, enabling 50,000
Bonanza sellers to use Ecomdash to help manage stock Reg Swart, chief commercial officer of MFS Africa, a pan-
levels and fulfillment. Bonanza is a seller-focused mar- African digital payments hub, and former vice president
ketplace that assists merchants in expanding their prod- of strategy for emerging markets at Visa, joined fintech
uct visibility. The integration adds another marketplace company Nomanini's board of directors. Swart will help
for Ecomdash customers to sell on. redefine the company's commercial strategy by targeting
financial institutions and expanding offerings to mobile
operators, merchants and other digital service provid-
ers.

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