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NewsBriefs

This article contains excerpts from news stories recently posted under Breaking Industry News on EMVCo enhances
our homepage. For links to these and other full news stories, please visit www.greensheet.com/ touchless commerce
breakingnews.php.
Recent updates to EMVCo
specifications will support new
contactless authentication methods,
enabling merchants and consumers
to securely transact on smartphones,
Apple Pay acceptance goes contactless EMVCo representatives stated. The
global technical body summarized
You can add Apple to the list of companies making it easier for merchants to 2021 milestones in a newly published
accept contactless payments. Apple's Tap to Pay on iPhone, which turns iPhones annual report and indicated it will
into payment-acceptance devices, will be available soon for payment platforms continue efforts to make contact and
and app developers to integrate with their iOS apps and offer to their business contactless smartcard payments more
customers as a payment acceptance option. Stripe will be the first platform to secure and seamless in 2022. EMVCo
offer Tap to Pay on iPhone to clients, including Shopify, which will be up and Board of Managers Chair Jianhua
running with it by Spring. Others are expected to follow later in the year. Ni commended EMVCo members for
supporting consumers, businesses
ACH gains traction, regulatory support and economies throughout pandemic-
As ACH adoption soars in B2B and B2C sectors, Nacha plans to phase in new related challenges.
guidelines to encourage usage and protect against errors and fraud. The 2022 Gift cards on track
rules begin to take effect in March 2022. Jane Larimer, Nacha president and for strong growth
CEO, confirmed same-day ACH transactions, currently capped at $100,000,
will be increased to $1 million per payment on same-day credits and debits to Consumers really like prepaid gifts.
further encourage business and consumer usage. In addition, Larimer noted, So much so that most can't wait to
ACH transactions initiated online must meet new fraud prevention criteria. use the cards. Seven in 10 consumers
(71 percent) recently surveyed by
Fiserv said it only takes one or two
purchases to redeem the full value of a
gift card received. Sixty-eight percent
said it takes less than three months to
fully redeem their gift cards.What's
more, unlike many other consumer
purchases, gift card sales didn't
take a hit because of the COVID-19
pandemic. Most consumers polled
said their gift card purchases haven't
changed over the past two years.
Payrix leaps forward with FIS

Payrix disclosed its new status as
an FIS brand, fulfilling its dream
of becoming "a global leader in
embedded payments, recognized for
the passion of our people, integrity
of our platform, and the possibilities
demonstrated to our partners and
their businesses." Payrix is a privately
held fintech firm specializing in
SaaS-based platforms and embedded
commerce solutions for small and
midsize business owners. The
company's growth trajectory was
marked by year-over-year growth
as it implemented more than 40
innovative SaaS platforms, which
attracted publicly held FIS, Payrix
representatives stated.

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