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IndustryUpdate

CMS, FTC resolve all issues deliver on its promise to unify the financial industry
around secure, common, interoperable and royalty-free
Complete Merchant Solutions reached agreement with standards for user-permissioned data sharing and Open
the Federal Trade Commission to resolve all outstanding Finance."
issues, including CMS's lawsuit against the FTC alleging
the FTC had exceeded its authority in the FTC's inves- Identitii receives U.S. patent approval
tigation against CMS, which focused on business prac-
tices relating to three merchants CMS serviced between Identitii Ltd. reported it was granted a U.S. patent cover-
2010 and 2016. The FTC's complaint focused on three of ing its global ecosystem for secure sharing of financial
CMS's prior merchant clients the company had stopped transaction information. Identitii's secure financial infor-
providing services to four years ago, noted David mation-sharing ecosystem overcomes key limitations of
Decker, CEO of CMS. He also pointed out that those existing systems to simplify financial crime compliance,
merchants represented only 0.2 percent of the company's streamline regulatory reporting operations and enable
merchants and 0.2 percent of total payment volume of faster settlement of payments, the company noted. The
a 12-year period. "During this time, CMS served more technology underpinning the patent powers Identitii's
than 14,000 merchants processing billions of dollars in correspondent banking solution, which is designed to
payments," Decker said. enable institutions to securely share information for
Know Your Customer and Anti-Money Laundering
FDX releases new, open finance standards compliance.
The Financial Data Exchange heralded its fall 2020 Paysafecash enables U.S. online cash payments
release, which includes technical standards and updates
to existing specification that have now been launched Integrated payments platform Paysafe rolled out
into the financial services marketplace. Don Cardinal, Paysafecash in the United States. Paysafecash, a pay-
FDX managing director, stated this release is "another ment method devised for consumers who want to pay
milestone and proof point of how FDX continues to online using cash, is expected to have strong appeal
for underbanked and unbanked U.S. households. "The
U.S. eCash solution is powered by the Vanilla Direct™
SELLING YOUR RESIDUALS? payment network of InComm Payments, a leading
global payments technology company," Paysafe stated.
With the ongoing issue of financial inclusion and cash's
HIGHEST MULTIPLES enduring importance, Americans not able, or wanting, to
make credit or debit card payments can now pay online
QUICK CLOSING with Paysafecash, the company added.

LARGEST BUYER NETWORK RESEARCH

ACI finds need for fast, flexible payments
At Portfolio Buyer, our qualified buyer network purchases of all
or part of merchant portfolios, residual streams, and enterprise New data from ACI Worldwide, a provider of real-
sales of any size. Our objective is to provide you with time electronic payment and banking solutions, shows
personalized, professional service. We will evaluate your
situation, anal
situation, analyze your business, and match you with a buyer in that more than a third of consumers will take at least
our network that best meets your business needs and financial six months to catch up on missed bill payments due to
goals. We will then negotiate the highest payments industry COVID-19. The study, which surveyed 3,000 U.S. adults,
sale price possible. There are no upfront costs for our services. also showed that three in 10 consumers in the United
We are only paid when we are successful in striking the best States saw a decrease in income following the onset of
deal for you. the pandemic, and 15 percent contacted billers for pay-
ment arrangements or deferrals—highlighting the need
www.PortfolioBuyer.com for more flexible payment options from billers.

or Mercator finds power in shopper segmentation
Call 212-631-8110 Mercator Advisory Group's Primary Data report Looking
at Buyers through the Lens of Segmentation is based on
the company's 2020 Buyer PaymentsInsights Survey. The
Portfolio BUYER online survey of 3,002 U.S. adult consumers, conducted
in February 2020, explores consumers' experiences as
they shop in-store, online and via mixed channels. The
survey was designed to define and highlight consumer

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