Page 13 - GS210902

IndustryUpdate

related technologies to facilitate payment transactions.
The association believes policymakers should carefully
consider its five principles so that proposals best serve
the needs of consumers and businesses, further financial
inclusion, preserve and strengthen the financial system,
minimize fraud and money laundering, and ensure that
consumers and businesses continue to have access to a
robust, innovative array of secure banking and payment
options.

G2.com names MineralTree a market leader
MineralTree, an accounts payable and payment automa-
tion solution provider, was ranked as a Market Leader
ANNOUNCEMENTS in the Fall 2021 G2 Grids for AP automation software
and enterprise payment software. G2.com, a tech mar-
ketplace with over 1 million user reviews, issued the G2
Bluefin receives U.S. patent for ShieldConex report while adoption of AP and payments automation
continues to accelerate and more businesses seek to take
Bluefin, a provider of payment and data security solu- advantage of the operational efficiencies, cost savings
tions, received its first U.S. patent on the ShieldConex and strengthened supplier relations that come with it.
data security platform for tokenized encryption of per- Also, in a recent survey conducted by MineralTree, AP
sonally identifiable information (PII), protected health was the number one back-office digitization priority for
information (PHI), and payment/ACH account data. U.S. respondent businesses.
patent 11,070,534, Systems for Vaultless Tokenization
and Encryption, covers an iFrame service for collect- Insight Partners invests in NMI
ing data; a tokenization service for (de)tokenizing and
encrypting/decrypting data; and management and cre- NMI, a commerce enablement technology company,
ation of templates for iFrame collection, (de)tokeniza- received a new equity investment from private equi-
tion and encryption/decryption. ShieldConex utilizes ty and venture capital firm Insight Partners. Insight
hardware-based encryption and vaultless tokenization Partners joins existing investors Francisco Partners and
to secure PII, PHI, cardholder data and ACH account Great Hill Partners. NMI will continue to be led by CEO
data entered online, Bluefin stated. Vijay Sondhi and the current management team, who
invested alongside Insight Partners, Francisco Partners
Chosen Payments' Brodsly launches and Great Hill Partners. NMI, which was acquired by
concierge platform Francisco Partners in 2017, said it processes more than
$150 billion in payments annually, and enables critical
Jeff Brodsly, founder of Chosen Payments, launched payment functionality for 2,800+ partners and more than
100GROUP, a new concierge platform. 100GROUP, a 250,000 merchants globally.
multifunctional concierge for business owners across
the United States, will offer products and services each Nacha launches DirectDepositDelivers.org
business requires to operate, Brodsly stated, adding that
in all his ventures, he has endeavored to solve problems To illustrate how direct deposits sent through the
and help people. Observing evolving outsourcing prac- ACH network are vital to Americans, Nacha launched
tices and loss of an old-school personal touch, Brodsly DirectDepositDelivers.org. The site shows why govern-
saw a growing gap between business owners and ment agencies rely on ACH to distribute a range of
vendors. The 100GROUP's mission is to give business payments. In fact, Nacha noted, direct deposit via ACH
owners one VIP concierge to serve them 24/7 with ser- is used for: 99.5 percent of federal salaries, 99 percent
vice and support in areas such as business management of Social Security benefits, 90 percent of tax refunds,
software, payment processing, business phone systems 86 percent of child tax credit payments, and 79 percent
and business insurance. of economic impact payments. Another benefit of the
ACH network is the ability to choose same-day ACH to
ETA releases guiding crypto principles deliver funds even faster, Nacha added.
The Electronic Transactions Association released 5 VibePay to offer voice-activated
Guiding Principles for Crypto, which is designed to guide payments in Europe
the consideration of any new laws and regulations for
crypto assets. The ETA noted that as a trade association VibePay now offers account-to-account voice activated
representing the breadth of the payments industry, it has payments in Europe. VibePay’s users can pay or request
deep expertise in payments technology, including the payment from others with their voice directly (via Siri)
use of cryptocurrencies, blockchain and other crypto- and instantly from one UK bank account to another, with
13