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IndustryUpdate

measures in place. Additionally, 45 percent of businesses Maverick Payments, Authvia
with an in-person workforce do not practice cyber safe- form strategic partnership
ty; in comparison, 27 percent of online-only businesses,
and 21 percent of businesses with a hybrid work model Authvia is now integrated into the Maverick Payments
have no internet security processes. Fifty-nine percent of gateway, enabling all Maverick’s merchants to use
business owners who fail to utilize safety methods said Authvia’s conversational commerce tools for credit card
they are too small to be targeted for cybercrime. and ACH processing, Maverick stated, adding that
TXT2PAY, a patented, pay-by-text solution allows mer-
Fraud up 794 percent globally, Feedzai finds chants to get paid faster while reducing PCI scope.
According to a recent study, 95 percent of all text mes-
Feedzai, a platform for financial risk management, sages are opened and responded to within three minutes.
released its quarterly report, The RiskOps Age, based on With Authvia, Maverick noted, merchants can quickly,
an analysis of over 18 billion global banking transac- easily and securely request and receive payments over
tions throughout 2021. The report identifies trends in text, providing their consumers a simple, convenient
consumer spending and fraud attacks and compares payment experience from their own mobile devices.
transactional intelligence from 2021 with the previous
three years to provide insights from the pre-pandemic PayPal Checkout, Ratepay tackle invoicing
era versus the first and second years of the pandemic.
One primary conclusion is that while online transactions Ratepay, part of the European PayTech Nexi Group, is
grew 65 percent, online fraud attack rates grew by 233 now the exclusive payment by invoice partner for PayPal
percent. “The shift from in-person transactions to online Checkout in Germany. German online merchants who
transactions, along with the plethora of devices and use PayPal Checkout will be able to offer their custom-
accounts each person has, creates vast amounts of data ers white-label payment by invoice from Ratepay in the
points," said Jaime Ferreira, vice president of global data future. This can be offered by any German merchant
science at Feedzai. "From a fraudster’s point of view, this who works with PayPal and has been checked accord-
is the best-case scenario." ingly, the partners stated, adding that Ratepay takes
over the complete processing with the buyer in the back-
FIs, insurance firms go digital with low-code ground, as well as the default risk. This is made possible
by Ratepay's new Payment API 2.0.
Mendix, a Siemens business, released results of its finan-
cial services and insurance global market survey, stating
the research revealed how companies in these indus- ACQUISITIONS
tries are using low-code to drive digitization, improve
experiences and modernize legacy systems. While the Payroc acquires Iroquois Merchant Services
responses of those working for banks and other financial
services companies were consistent, the answers from Payroc WorldAccess LLC, a merchant acquirer, proces-
insurance company representatives differed slightly, sor and payment integrator, acquired Iroquois Merchant
Mendix noted, adding that among banks and other Services, a provider of electronic payment processing
financial services companies, the biggest perceived low- services for businesses, local governments, nonprofits
code benefit is cost savings; in the insurance industry, and more. Through strategic partners, banks, asso-
business agility is the top priority. ciations and technology platforms, Iroquois implements
customized payment processing solutions and creates
PARTNERSHIPS efficiencies in acceptance, reconciliation and reporting,
Payroc stated. Payroc is backed by private equity firm
Parthenon Capital, which assisted in this acquisition.
Factor4, Stretch Zone form gift card partnership
RBR, Aite-Novarica intend to merge
Factor4 LLC, a provider of gift card and loyalty solu-
tions, partnered with Stretch Zone, a practitioner-assist- Strategic research company RBR and advisory firm
ed stretching model and creator of the Stretch Zone Aite-Novarica Group disclosed their plans to merge.
Method. Gift cards will be available in all 200+ Stretch RBR said its global market research offerings are relied
Zone locations, as well as on the company's website. upon by leading payment networks and financial and
The United States Gift Card and Incentive Card Market retail technology suppliers worldwide, and joining with
Intelligence and Future Growth Dynamics - Q1 2022 Update Aite-Novarica further solidifies its position as the pre-
Report, published by ReportsandMarkets, stated that eminent insights and advisory firm focused on financial
consumers' growing preference for omnichannel gift services. RBR added that its location and formidable
cards is leading to more strategic partnerships in the gift reputation around the globe will immediately expand
card space. Researchers recognized Factor4 for offering Aite-Novarica Group’s international presence.
a complete omnichannel gift card solution.

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