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IndustryUpdate

ANNOUNCEMENTS ToolBox Payment app in iOS
and Google Play stores
PAYMENTSfn conference becomes ToolBox Payment, a mobile payment app for home
payments community service contractors and tradespeople, is now available
in the iOS and Google Play stores. About this develop-
Organizers of the PAYMENTSfn Conference reported ment, ToolBox founder Jeff Shavitz said, "In addition
that the event has grown rapidly since its inception to payment processing, ToolBox has developed unique
in 2018, and they have now extended their mission to features such as GPS tracking, scheduling a job, and
become a comprehensive community for payments more to make the life of the contractor more efficient.
professionals. Devised as a collaborative educational Our team conducts monthly focus groups with contrac-
resource for those who work in or are interested in tors to get their feedback. ToolBox is already working
payments, the community consists of more than 2,000 on Version 2 with new features to launch during the 1st
payments professionals. Membership is free. Benefits quarter of 2021."
include dedicated Slack group access, payment career
opportunities, networking, fireside chats and more. For
details, visit www.paymentsfn.com/join-the-paymentsfn- RESEARCH
community.
Imposter scams down in 2020
PCS named PMCA of Kansas' Associate of the Year
According to data extracted by Atlas VPN, U.S. resi-
Paysafe Group's Petroleum Card Services, which pro- dents reported 168,818 imposter scam cases amounting
vides payment processing for U.S. gas stations, won the to $299.9 million in losses in the first half of 2020. The
Associate of the Year award at the Petroleum Marketers median loss was $694. This is substantially less than
& Convenience Store Association of Kansas' 2020 con- in the first half of 2019, when U.S. consumers reported
vention. PCS has been a member of the PMCA of Kansas 355,866 imposter fraud cases. The top three states experi-
since 2018 and was honored for its strong payments encing imposter scams were California (13,312), Florida
support to Kansas gas stations and convenience stores. (10,489) and Texas (9,944). The state with the fewest such
In addition to ongoing support, PCS helped members scams was Wyoming, which reported 165 in the first half
upgrade to meet the April 2021 deadline for EMV com- of 2020. The Atlas VPN app facilitates private browsing
pliance, offering such resources as the EMV at the Pump by changing IP addresses and encrypting connections
Compliance Hub. for users.
Pineapple Payments rebrands Transax Digital lending fraud exposed

Payments technology company Pineapple Payments LexisNexis Risk Solutions released its annual Small and
rebranded its payments product, Transax. Rebranding Midsize Business (SMB) Lending Fraud Research Report,
includes a new product logo and refreshed platform styl- revealing that 71 percent of lenders surveyed reported
ing. The changes came on the heels of Pineapple's contin- that SMB lending fraud incident levels have risen over
ued technological investments, including its acquisition the past 24 months, at an average of 8.3 percent. This is
of Transax Gateway in 2018. The redesigned logo and especially true for lenders that conduct more transac-
positioning of Transax as a Pineapple Payments Product tions online. Eighty percent of these lenders reported an
are driven by Pineapple's renewed product branding average of 9.7 percent increase in fraud from two years
strategy, intended to better represent the company's ago. Additionally, four in 10 respondents from banks or
distinct offerings. credit unions said they now accept 80 percent or more of
Square adds QR-based self-serve ordering their SMB loan applications through online and mobile
channels. This is in spite of the complex nature of SMB
Self-serve ordering is now available for Square Online fraud and the perception that the mobile channel pres-
sellers in the United States, UK, Canada and Australia. ents a significant risk of fraud, according to researchers.
Square Online sellers can limit in-person contact, increase
safety, improve order accuracy, and adapt to chang- UnionPay claims 45 percent of global card spend
ing consumer preferences, Square stated. Consumers New research from RBR shows that spending on pay-
visiting a restaurant scan the QR code with their per- ment cards continues to grow. According to RBR's Global
sonal device and place the order via the seller's mobile- Payment Cards Data and Forecasts to 2020, expenditure
optimized ordering page. Once the buyer completes rose by 13 percent to reach $35 trillion in 2019. A number
the order, the seller's POS receives it and relays it to of factors drove this growth. In developing countries,
the kitchen printers just like orders inputted by servers. government financial inclusion initiatives continue to
When the order is ready, a food runner locates the table encourage people to open bank accounts for the first
identifier on the ticket and brings out the food. time. In mature markets, contactless is hastening moves
away from cash, a trend COVID-19 has accelerated in

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