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IndustryUpdate

Convego CloudPay eSE, each won first prize in their
respective categories. This is the second consecutive
year G+D has been honored in Juniper's Future Digital
Awards, which have been highlighting the most inno-
vative and effective technology solutions since 2008. In
evaluating candidates, the judges looked for innovators
that have made outstanding contributions to their indus-
try and will have a significant impact on the further
development of their markets.

GPS opens MENA headquarters

Paytech provider Global Processing Services launched
its Middle East and North Africa (MENA) office and
ANNOUNCEMENTS appointed payments expert, Arnav Rath, as head of the
region. Headquartered in Dubai, the team will focus on
helping financial services providers scale, both through-
CFPB urged to address fintech payday loans out the region and beyond, while delivering local exper-
tise and partnership. GPS stated it intends to support
A coalition of 96 consumer, labor, civil rights, legal ser- established financial institutions and startups across key
vices, faith, community and financial organizations and verticals including digital banking and remittances, buy
academics is urging the Consumer Financial Protection now pay later, expense and payroll management, youth
Bureau to revoke or significantly revise two actions the banking, and financial empowerment.
CFPB took in late 2020 regarding earned wage access
(EWA) products. The coalition stated that the CFPB’s Tassat wins Google Cloud award
EWA advisory opinion and PayActiv approval order—
which declared certain EWA programs not to be “cred- Tassat Group Inc., a provider of blockchain technolo-
it"—threaten to create loopholes in federal credit and fair gies for financial institutions, reported that it won
lending laws and are being misused to promote fintech a Google Cloud Financial Services Customer Award,
exemptions in state payday loan laws. which recognizes technical excellence and innovation in
the TassatPay Network.
“The CFPB’s sloppy legal opinion, issued with no public
input, threatens to open a gaping hole in our lending The inaugural award was presented at the Google Cloud
and fair lending laws for fintech payday loans," said the Next ‘21 global digital event on Oct. 12, 2021. Tassat said
National Consumer Law Center's Lauren Saunders. it was selected for its achievements using Google Cloud
to help power its offerings, which provide blockchain
Futurex releases CPoC 360 benefits such as real-time payments, smart contracts
and enhanced data capabilities. TassatPay added that
Futurex launched its CPoC 360 service to help organi- it enables real-time, on-demand, 24/7/365 payments for
zations fulfill cryptographic requirements of the PCI banks to offer to their commercial customers and works
Security Standards Council’s Contactless Payments on by tokenizing their U.S. dollar deposits.
COTS (CPoC) standard for SoftPOS developers. CPoC
enables contactless payment transactions from commer-
cial off-the-shelf (COTS) devices such as smartphones or RESEARCH
tablets with no need for additional hardware.
Bluefin issues security brief for petroleum sector
Hosted in Futurex’s VirtuCrypt Cloud, the CPoC 360
service is designed to help anyone building SoftPOS Bluefin, a provider of encryption and tokenization to
applications get to market with less cost and in less time protect payments and sensitive data, issued a new pay-
by helping them meet a range of data security require- ment security brief titled P2PE for Petroleum and C-Stores:
ments, Futurex stated. The standard accelerates adop- Bluefin Industry Partner and Payment Security Solution. The
tion of contactless payments for individuals and small brief provides an overview of the petroleum environ-
businesses, while ensuring a high level of security, the ment, including the major manufacturers, hardware and
company added. software providers and their roles, and the complexities
of fuel merchant processing. It also details the payment
G+D wins two Juniper innovation awards security features needed by petroleum and convenience
stores (C-stores) and merchants, including PCI-validated
Juniper Research recognized two solutions from point-to-point encryption (P2PE).
Giesecke+Devrient (G+D) in its Future Digital Awards.
G+D's QR code payment system for mobile payments, According to Bluefin, the brief also discusses the
Convego Pearl, and its payment platform for wearables, first true PCI-validated P2PE solution using Bluefin’s
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