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IndustryUpdate

nizes the best cyber security solution offered by a tech-
nology provider. The win demonstrates that SEON's
innovative solution is able to constantly evolve to an
emerging threat landscape by employing cutting edge
technologies, such as artificial intelligence and machine
learning, the company stated.

VizyPay honored in FinTech Breakthrough Awards
VizyPay, a payment processing company for small
businesses, was named Best Small Business Payments
ANNOUNCEMENTS Solution by the 2022 FinTech Breakthrough Awards, an
annual awards program that recognizes technologies
Paybotic launches scholarship for women in tech and companies driving innovation and exemplifying the
best in fintech technology solutions. VizyPay stated it
Paybotic, a provider of payment solutions in the can- won thanks to its unique cash discount program (CDP),
nabis industry and associated markets, established the a flexible, transparent service that empowers small busi-
Paybotic Women in Finance & Technology Scholarship nesses to take control of their credit card processing,
for women pursuing a higher education. Paybotic will eliminate unpredictable fees and save money. For a low
award three $2,500 scholarships to winners who will month-to-month subscription, CDP allows unlimited
be selected in June 2022. Applications for scholarship credit card transactions and offsets up to 100 percent of
are now open at bold.org/scholarships/paybotic-women-in- processing fees, the company added.
finance-and-technology-scholarship/.

Play2Pay picks Miami for flagship office RESEARCH
Play2Pay Inc., a mobile payments platform that gamifies Payment failures cause churn
payments, selected Miami's Wynwood neighborhood
as its flagship office location where it intends to hire According to a new report from GoCardless and The
for 25 positions in 2022. In the new 5,200 square foot Subscribed Institute at Zuora, a company's payment
office space employees will enjoy a hybrid schedule and strategy plays a key role in its ability to reduce churn.
versatile workspaces, the company stated. Amenities How Customers Pay Impacts How Long they Stay reveals
planned for employees include a gym; pool access; mul- the annual customer churn rate for subscribers who
tiple rooftop areas for casual, recreational team building pay via ACH debit is just 4 percent. In contrast, the rate
gatherings; a barbecue station; and a café. for those who pay via credit cards is 14 percent, and 16
percent for those using digital wallets. The report also
Pushpay enhances app to help found that 20 to 40 percent of subscriber churn happens
churches post pandemic because of payment failure, and every quarter, subscrip-
tion businesses lose between 1and 6 percent of their
Pushpay, a payments and engagement solutions pro- customers.
vider for faith-based and nonprofit sectors, added new
digital features to its giving solution, church manage- Mercator reports on digital
ment system and mobile applications to help churches payments rise in Canada
increase involvement within their community. While
the pandemic continues, in-person gatherings are slow- Mercator Advisory Group's 2022 North American
ly showing signs of returning to normal, with roughly PaymentsInsights, Canada: The Rise of Digital Payments
21 percent of adults attending weekly religious services Emerging from COVID, analyzes the impact of COVID
in-person, according to the Associated Press. Among within Canada on consumer payment preferences. The
Pushpay's enhancements are app analytics, event cre- report revealed generational differences in the use of a
ation in-app, donor development flexibility, draggable range of payment forms including cash, checks, cards
livestream link, annual recurring giving and Spanish and digital payments. The report is based on the North
translation. American PaymentsInsights survey, administered in
2021 to a representative sample of 1,002 Canadian con-
SEON named cyber security solution of the year sumers, ages 18 years or older. "Payment technology is
creating rapid shifts in consumer payment preferences,
SEON was named Cyber Security Solution of the Year at with COVID acting as a direct change agent, resulting in
the FSTech Awards. Bringing together big names within declines in use of paper payments via cash or checks,"
the fintech and financial services sectors, the FSTech stated Amy Dunckelmann, vice president, research
Awards is now in its 22nd year. SEON's category recog- operations at Mercator.

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