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IndustryUpdate

and impact of alternative credit data for credit portfo- merce platforms for quick deployment by merchants
lio growth and management in consumer and small/ looking to adopt a passwordless approach to a modern
midsize business lending. The report surveyed senior handsfree and fraud-free checkout experience for their
decision makers for marketing, lending and credit risk consumers. Wink’s advanced biometric technology plat-
in U.S. financial institutions. Alternative credit data form utilizes advanced facial and voice recognition, gen-
insights—such as professional licenses, asset ownership, erative AI, machine learning and advanced payments
and modern credit-seeking behaviors—are typically orchestration to facilitate a truly low-code mechanism
not included in traditional credit reports and scores. for merchants to deploy fraud-free frictionless checkout
Researchers found that least two-thirds of financial that is completely passwordless and device agnostic,
institutions surveyed use alternative data in their credit they added.
risk assessments for underwriting and portfolio manage-
ment. Eighty-four percent use alternative credit data in ACQUISITIONS
prescreening and credit risk across the customer life-
cycle, with credit unions taking the lead in using alterna-
tive credit data. Evertec closes paySmart acquisition
Evertec acquired 100 percent of Paysmart Pagamentos
PARTNERSHIPS Eletronicos Ltda (paySmart). Headquartered in Porto
Alegre, Brazil, paySmart provides issuer processing ser-
Enfuce, Starcart shake up online shopping vices and BIN sponsorship services for prepaid programs
under domestic and international schemes in Brazil. The
Finnish ecommerce aggregator startup Starcart selected aggregate purchase price is approximately USD$25 mil-
Enfuce, a European card-issuing and processing enter- lion at current exchange rates. Mac Schuessler, Evertec's
prise, to offer retailers and shoppers the speed, security president and CEO stated the acquisition helps Evertec
and convenience of embedded virtual card payments. accelerate its expansion in Brazil and complements the
The partnership is set to transform the way in which company's current product offering.
consumers shop online by combining Enfuce’s stand-out
embedded payments strengths with Starcart’s unique Nexi to acquire percentage of Sabadell's acquiring
business model that sets it apart from marketplaces and
other ecommerce platforms, the partners stated. Focused Nexi and Banco de Sabadell established a long-term
on making online shopping hassle-free, Starcart uses partnership in the Spanish market through which Nexi
automated search and bots to gather more than 12 mil- will acquire 80 percent of Sabadell’s merchant acquir-
lion items into a catalog that customers can easily use to ing business, after its carve-out into PayComet, a fully
buy what they want in one place, they added. owned Sabadell company and a licensed payment insti-
tution. They also formed a long-term exclusive distribu-
Fingerprints, Flywallet team up on biometric pay- tion partnership with an initial term of 10 years and two
ments potential renewals of five years each. Following comple-
tion of the transaction, Nexi will acquire over 380,000
Biometrics company Fingerprint Cards and Flywallet, a merchants and approximately 48 billion euro of transac-
biometric wearables technology startup, are collaborat- tion volumes as of December 2022. Nexi will finance the
ing to develop and launch biometric wearable products transaction through available cash resources.
for the European market. Flywallet has built a range
of consumer products that support payments, mobil- Nuvei completed acquisition of Paya
ity, access and health use cases in a single ecosystem. Canadian fintech Nuvei Corp. completed its acquisi-
Flywallet stated its products enable secure payments, tion of Paya Holdings Inc., stating that Paya amplifies
ticketing and loyalty services; password-free login to Nuvei’s existing growth strategy and expands its reach
online services; and building and car access control. into new under-penetrated and non-cyclical verticals
Wearable products from Flywallet will now feature where Nuvei’s proprietary technology is well positioned
Fingerprints’ biometric sensors, software and algorithm to accelerate customer growth.
benefitting from ultra-low-power consumption, leading
performance, and the company’s years of experience in Paya, a U.S. provider of integrated payment and friction-
secure biometrics innovation, Flywallet said. less commerce solutions, processed $50 billion in annual
Wink, Brainvire partner on biometric ecommerce payment volume last year, mainly in high growth ver-
ticals such as healthcare, nonprofit, government, utili-
Wink partnered with Brainvire to leverage Brainvire’s ties, and other business-to-business end markets, Nuvei
digital transformation agency model to deploy Wink’s stated. Nuvei and Paya are highly complementary with
biometric authentication, payment and checkout solu- respect to geographies, capabilities for customers and
tions with leading ecommerce platforms and merchants. partners, and the end-markets and verticals that each
Brainvire and Wink said they will collaborate to offer currently serves, Nuvei added.
Wink biometric checkout plug-ins for all major ecom-
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