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IndustryUpdate
ANNOUNCEMENTS
Early Warning a Quantum
Workplace honoree
Quantum Workplace, a provider of
employee engagement and perfor-
mance software, revealed the win-
ners of its annual Employee Voice
Awards. To be considered, candidates must have dem-
onstrated dedication to making work better every day
through collecting, analyzing and acting upon employee
feedback. Early Warning Services LLC was honored in
the Quantum Transformation category for engaging
employees to uncover areas of opportunity for mean-
ingful change. Early Warning focused on new leader-
ship development, training and a conversation series
in addition to implementing new communication for-
mats and collaboration tools and creating an Employee
Engagement panel.
Icon honored at PayTech Awards 2021
Cloud-native payment solutions provider Icon Solutions
won the PayTech for Good category at the 2021 PayTech
Awards, which recognize the most talented companies
and individuals in IT and payments. The PayTech for
Good category honors organizations that go above and
beyond to deliver universal and lasting positive change.
Icon was selected by the judges for actively putting the
wider community first and demonstrating values of
exceptional connection, collaboration and generosity to
its chosen charities, Icon noted.
NAC commends Congress on Payment Choice Act
The National ATM Council Inc., a trade association for
independent U.S. ATM owners, operators, and suppli-
ers, commended the introduction of the Payment Choice
Act of 2021 by a large, diverse and bipartisan cross-sec- safely boost online account auto-acceptance rates by up
tion of Congress. The proposed legislation—spearhead-
ed and formally introduced by Reps Donald M. Payne
Jr., D-N.J., Chris Smith, R-N.J., and 28 other bipartisan
original co-sponsors—preserves cash payment options RESEARCH
for consumers' in-person purchases of goods and ser-
vices at retail establishments throughout the United
States. Introduction of the Payment Choice Act of 2021
follows recent enactment of similar cash-acceptance
legislation by state and local jurisdictions around the
nation, including New York City, San Francisco, New
Jersey, Pennsylvania, and most recently, Colorado
Paysafe's Skrill expands crypto service
Skrill, part of specialized payments company Paysafe,
reported that it added 20 new cryptocurrencies to its
digital wallet for its customers to buy and sell. The
new additions bring the total number of cryptocurren-
cies available within Skrill to 35 for customers based
outside of the United States. The expanded portfolio is
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also available within NETELLER, another of Paysafe's
proprietary digital wallets. In addition, following its
initial expansion into the United States in March of 2021,
Skrill launched its cryptocurrency buy and sell service
in 11 additional U.S. states and territories, including
California, Florida, Massachusetts, North Carolina and
Pennsylvania.
Shyft Network tackles security, privacy
The Shyft Federation launched the Shyft Network with
a focus on security and privacy. The network is built
with an opt-in toolset for trustless identity attestation,
and DeFi compliance, the final piece for institutional
buy-in to the blockchain ecosystem, Shyft Federation
stated, adding that the Shyft Network is the layer-1 pub-
lic blockchain protocol, and the Shyft Federation is the
collective that maintains, runs, and ensures the security
of the network. Shyft co-founder Joseph Weinberg said
the "protocol's multi-layered stack and trust infrastruc-
ture allows the blockchain industry to meet traditional
requirements, without sacrificing the core pillars of
decentralization, open-innovation, and privacy in per-
missionless protocols."
Socure unveils BNPL-specific ID solution
Socure, a platform for digital identity verification and
trust, said it introduced the first identity verification and
fraud solution purpose-built for the buy now, pay later
(BNPL) industry. The solution leverages technology and
data currently used by more than 100 top BNPL provid-
ers, alternative payment providers, fintechs, banks, and
credit card issuers, Socure stated. The company noted
that it developed the solution using deep identity and
transaction data that enables multiple leading BNPL
providers to attract new merchants, power growth by
converting qualified shoppers in real time, and reduce
loss rates. Socure attested that its solution has proven to
to 97 percent while reducing fraud-related loss rates by
up to 40 percent versus legacy strategies.
CO-OP analyzes Amazon Prime Day
Transaction data for Amazon's annual Prime Day ana-
lyzed by CO-OP Financial Services' SmartGrowth card
portfolio experts revealed that debit cards accounted
for 90 percent of all Amazon credit and debit transac-
tions processed by CO-OP during the event, which
took place on June 19 and 20, 2021. CO-OP's analysis
also showed that total credit and debit transactions on
Amazon increased by just 2.8 percent in 2021 over the
2020 Amazon Prime Day event; the 2021 total transac-
tion amount of more than $11 billion was up just 7.6
percent year over year.