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IndustryUpdate

its merchant customers. A jury
found him guilty wire fraud and
conspiracy to commit wire fraud.
Richard Hart, a CPS sales man-
ager, previously pled guilty to one
ANNOUNCEMENTS count of conspiracy to commit an
offense against the United States.
Century Business Solutions wins CNP recognition
Tribe Payments launches
Century Business Solutions was named Best Payment Service Provider (PSP)
in the 2019 Card Not Present (CNP) Awards. Century was recognized for the Led by payments veteran Suresh
second consecutive year for its ability to support virtually any CNP merchant Vaghijiani, a team of industry
with extensive offerings of payment currencies and types, platform certifica- experts dedicated to delivering
tions and proprietary gateway options. the future of payments launched
Tribe Payments, which shortly
FinTech Consortium launches Silicon FinTech Bay became one of the first processors
in Europe certified to allow banks
FinTech Consortium launched Silicon FinTech Bay, a fintech corporate accel- to issue UnionPay cards. The start-
eration and startup incubation hub located in Redwood City, Calif. This up provides payment technology
marks the first opening of a North American location for the global FinTech to banks, fintechs, issuers, acquir-
brand. DBM Cloud Systems, Flagstar Bank, Franklin Templeton, Fujitsu ers and other businesses provid-
Laboratories of America and Principal Financial Group signed on as founding ing payment services to merchants
corporate partners. and consumers.
CEO of CPS convicted of fraud scheme RESEARCH

Michael Mendlowitz, CEO and part owner of payment processor Commerce
Payment Systems, was convicted in Manhattan federal court of defrauding U.S., Canadian consumers
reluctant to swap passwords
for biometrics
More than half of consumers in
the United States (52 percent) and
Canada (53 percent) are worried
the shift to biometrics to authenti-
cate online payments will increase
identity fraud, according to Lost in
Transaction: The end of risk?, a new
report from Paysafe. Researchers
found that four fifths of consumers
in the United States (81 percent)
and Canada (83 percent) favor
passwords for online payments
due to concerns about the security
of biometric options.

Financial health improvements
require bold hacks

Common Cents, a financial
research lab, published its 2018
annual report. The document
details the impact of behavioral
interventions designed to increase
short- and long-term savings,
improve cash flow management,
and decrease bad debt. Since 2016,
Common Cents has conducted
more than 83 unique projects and

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