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IndustryUpdate

national trade group representing processes to ensure they are offering a highly capable mobile app. "This must
the U.S. casino industry, Nuvie be inclusive of a seamless checkout process, the correct mobile wallet integra-
noted. Neil Erlick, the company's tions and high levels of security, or they will lose out to more mobile-adept
chief corporate development offi- merchants," Juniper stated. Access the free white paper at www.juniperre-
cer, will serve on the AGA board search.com/white-papers/digital-wallets-transforming-the-way-we-pay?
of directors, offering insights to the
industry's work on advancing pay- Ecommerce retailers grapple with conversion
ment modernization opportunities
in gaming. Nuvei indicated it will Mollie, a European payment service provider, published research unveiling
also be actively involved in AGA the state of payments in retail today, as well as the challenges and opportu-
task forces, most significantly the nities in the retail market following a turbulent year. The findings, based on
Payments Modernization working responses from 2,500 retailers in Europe, highlight difficulties retailers face in
group. ecommerce environments. When asked the biggest challenges in online retail,
65 percent of respondents cited converting shoppers to purchase, 43 percent
ThetaRay wins Fintech rated high costs for shipping or payment providers, and 41 percent selected
Breakthrough award low margins. For 34 percent, cart abandonment is the biggest challenge. The
report is downloadable at www.mollie.com/en/papers/growth-trends-whitepaper-
FinTech Breakthrough, a market mindset.
intelligence organization, selected
ThetaRay, a provider of AI-based NAPCO predicts boom in omnichannel gift cards
analytics to prevent financial cyber- A new study by NAPCO Research found top retailers have room to grow to
crime, as winner of the Transaction keep up with consumer demand for contactless options. Of the major retail-
Security Innovation Award in the ers evaluated for the report, 39 percent don't accept NFC mobile payments
fifth annual FinTech Breakthrough in their stores, and only 4 percent give customers the option to pay for a gift
Awards. "ThetaRay is helping finan- card purchase by scanning a QR code or barcode with their mobile device,
cial systems to regain lost trust,
boost revenues and increase the
number of customers being served,
while also providing better service
by accelerating the processes, and
driving growth in underserved
economies," FinTech Breakthrough
stated, while additionally pointing
out that the company's AML solu-
tion for correspondent banking is
"the first and only AI-based technol-
ogy that provides full-path visibil-
ity into all links of the cross-border
payment chain."

RESEARCH

Digital wallet users to top
4.4 billion by 2025

A new study from Juniper Research
found the number of unique digital
wallet users will exceed 4.4 bil-
lion globally in 2025, rising from
2.6 billion in 2020. The increasing
alignment between in-person and
remote commerce channels is lead-
ing to greater use of mobile wallets,
with online wallet use confined to
high-value purchases or complex
bill payments, researchers found.
They recommended merchants
undertake complete reviews of their

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