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IndustryUpdate

of cutting-edge, scalable solutions that are design led,
data driven and technology enabled, the company
stated.
Verified platform by authID.ai wins U.S. patent

authID.ai, a provider of biometric identity authentica-
tion, reported it received a Notice of Allowance from
the U.S. Patent and Trademark Office for its multi-party,
multi-factor authentication method. The patent protects
a core component of authID’s intellectual property relat-
ing to its Verified identity verification platform. Entitled
A Method and System for Transaction Authorization Based
on a Parallel Autonomous Channel Multi-User and Multi-
Factor Authentication, the patent comprises a method that
enables an account holder to authorize a transaction,
and at the same time, allows a third-party identity veri-
ANNOUNCEMENTS fier to validate the identity of the account holder—for
example, through a personal code or biometrics—and
Payroc launches ConsumerChoice confirm the account holder’s consent for the transaction.
for CNP payments
RESEARCH
Payroc WorldAccess LLC launched a new offering,
ConsumerChoice, to provide choice for card-not-present People will share data for better service
(CNP) environments. Provided through Payroc’s sub-
sidiaries, this custom offering will provide businesses In a global consumer survey, Axway found that almost
of all kinds the choice to accept all card and ACH pay- 60 percent of respondents believe it's worth allowing
ment types at no cost to their merchants, Payroc stated. companies to access their personal data if it means
ConsumerChoice is Payroc’s consumer-driven process- a better user experience. The survey also revealed
ing program that facilitates the elimination of payment regional—and perhaps cultural—differences regarding
processing costs to the merchant, whether transacting data openness: 75 percent of Brazilian and 59 percent of
in a card-present or CNP environment, the company U.S. participants said it's worth allowing access to their
added. data if it provides a better user experience; The British
are split, with 50 percent agreeing it’s worth allowing
SEON launches web series to combat ID theft access to their data; and Germans are slightly opposed

Online fraud fighting firm SEON partnered with András to the notion, with 48 percent agreeing. Also, 73 percent
Arató, the man featured in the popular Hide the Pain of respondents use their Facebook or Google account to
Harold memes, to create a web series titled Behind The log into other apps to avoid creating new logins.
Pain. The series follows Harold as he explains how his PCI SSC, NCA issue bulletin
life has been impacted by becoming globally famous on ransomeware attacks
online. The series of three very short videos, which
have been nominated for this year's Webby Awards The PCI Security Standards Council (PCI SSC) and
and Shorty Awards, strike a comedic tone while high- the National Cybersecurity Alliance issued a joint bul-
lighting the importance of protecting one’s identity letin on the increasing threat of ransomware attacks.
online. Episodes can be viewed on YouTube at https:// Critical areas identified for best practices implementa-
bit.ly/3hq62Ij. tion include network segmentation, employee training,
system testing, network security maintenance, soft-
Synechron launches paytech accelerator program ware patches, ongoing monitoring, system backups and

Synechron, Inc., a digital transformation consulting response to attacks. The bulletin is available at https://
firm, launched its PayTech Accelerator Program, aimed bit.ly/3K6BqIq.
at helping banks and other financial services institu- Omicron impact modest, Visa finds
tions seize new opportunities across the payments
landscape and solve evolving common business chal- Visa reported that the U.S. Spending Momentum Index
lenges. The ninth such Accelerator Program launched (SMI) was 102.4 in January, down from a revised 109.4
since September 2016, PayTech Accelerator leverages in December. When the Visa SMI rises above 100, con-
the expertise of Synechron with the payments domain sumer spending momentum is strengthening; when
and technology experts from Attra, which Synechron it falls below 100, spending momentum is weakening,
acquired in December 2020. The program offers a suite compared to the previous year.

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