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IndustryUpdate
ANNOUNCEMENTS
ACI launches single-integration BNPL solution
ACI Worldwide, a provider of real-time digital payment
software, introduced ACI PayAfter to enable merchants
globally to provide customers a choice of more than
70 buy now, pay later (BNPL) options through a single
integration. The user interface enhances acceptance
rates and serves a broader base of customers tradi-
tionally overlooked, ACI stated. For merchants, ACI
PayAfter offers one application and a single contract
that reduces the complexity and cost of integration, as
well as faster speed to market, and actionable customer
intelligence; for consumers, ACI PayAfter provides one
BNPL option at checkout, one application form and a
single credit check, while offering access to multiple
financing options with a higher probability of approv- cial firms' annual revenues year-over-year at a 6.2 per-
als, ACI added.
F1 Payments rebrands as Corvia
Fintech company F1 Payments changed its name to
Corvia. The name change, along with new visual iden-
tity and brand story, better reflects how the company
aspires to represent itself in the payments industry
today and into the future, the company stated. More
than a payments solution, Corvia empowers commerce
so its business customers and sales partners can thrive,
and the new Corvia logo is comprised of a brand mono-
gram and word mark, emphasizing confident upward
movement combined with ease and simplicity, creating
a harmonious timeless balance between past and future,
Corvia added.
Nacha recognizes 230 new a
ccredited ACH Professionals
On Feb. 8, 2022, National AAP Recognition Day, Nacha
recognized 230 newly minted AAPs who passed the
2021 ACH Professional exam and earned their creden-
tial. They are now among more than 4,500 AAPs nation-
wide. Candidates were queried on subjects ranging from
the Nacha Operating Rules and the ACH Network, to
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regulations in the payments industry and risk manage-
ment. "AAPs bring incredible depths of knowledge to
their organizations, helping them to navigate the ever-
changing world of payments," said Stephanie Prebish,
Nacha managing director, association services.
Paysafe expands mobile sports-betting markets
Specialized payments platform Paysafe reported it
is now processing sports-bettor deposits with major
mobile sportsbooks in the Louisiana market, as well
as powering multiple iGaming affiliate programs in
the state through Income Access, its marketing tech-
nology and services provider. In tandem, Paysafe also
entered the Oregon sports-betting market to streamline
player deposits. Paysafe also extended its longstand-
ing, multistate payments partnerships with Caesars
Entertainment Inc. and DraftKings Inc. into Louisiana's
mobile sports-betting market, whose launch, when com-
bined with retail sports-betting, could result in a mature
market handle of $5.1 billion annually, according to the
American Gaming Association.
RESEARCH
SMB lending fraud increasing in US
LexisNexis Risk Solutions released its latest Small and
Midsize Business (SMB) Lending Fraud Study. The survey
of risk and fraud executives at financial institutions
revealed that SMB lending fraud in the United States
has increased 6.9 percent since 2020. SMB lending fraud
losses account for a significantly higher percent of finan-
cent increase overall, with larger banks with more than
$10 billion in revenue and fintechs/digital lenders seeing
the sharpest year-over-year increase, researchers noted.
In-house finance can help SMBs, survey finds
According to the U.S. Census Bureau's Annual Survey
of Entrepreneurs, about 25 percent of small business
owners are forced to close their doors each year due to
low sales and poor cash flow. In addition, 23 percent of
small businesses surveyed closed due to the COVID-19
pandemic. With the pandemic's impact and the current
state of the economy, businesses are looking to provide
in-house consumer financing to make financing faster,
more accessible, and more convenient for the consumer,
researchers noted. This has provided access to goods
and services for consumers who might traditionally be
turned away for low credit, they added.
RBR rates NCR the world's largest POS vendor
NCR Corp. is the world's largest PO software vendor
globally according to the Global POS Software 2021
Report, conducted by RBR, a research and consultancy
group. The report provides deep market insights built
on a rigorous analysis of 2,150 projects, by more than