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IndustryUpdate

ANNOUNCEMENTS Women Impact Tech 100 honors ClearSale

Ecommerce risk prevention provider ClearSale was
FinTech Breakthrough honors global innovators honored with inclusion in the Women Impact Tech 100
list. In its second year and coinciding with International
FinTech Breakthrough, a market intelligence organiza- Women's Day, the award recognizes the top 100 stand-
tion that recognizes top companies, technologies and out organizations driving inclusion and equality in the
products in the global fintech market, heralded the technology industry. ClearSale, judges noted, has a long
winners of its seventh annual awards program. Award history of focusing on equity and inclusion—from tech-
categories include digital banking, personal finance, nology roles and skilled fraud analysts to leadership,
lending, payments, investments, regtech, insurtech and embracing diversity has positioned ClearSale as both a
more. This year's Best Consumer Payments Platform global technology leader as well as a positive cultural
award went to PayNearMe; InComm Payments won powerhouse. The Women Impact Tech 100 list's selec-
the Consumer Payments Innovation award. Best POS tion process involves extensive research that includes
Solution award went to Wisetack; myPOS won the POS the compilation of public employee reviews of work-
Innovation award. This year's program attracted more place culture for women and underrepresented groups,
than 4,000 nominations worldwide, organizers stated. an assessment of company benefits and perks, and an
For a full list of winners, visit https://fintechbreak- assessment of an organization's diversity, equity, and
through.com/2023-winners. inclusion programs.

J.P. Morgan to pilot biometrics-based
POS payments RESEARCH
J.P. Morgan will begin piloting biometrics-based pay- Ransomware attacks on the rise
ments with select retailers in the United States. This
is the first pilot solution to launch from J.P. Morgan Analysis from NCC Group's Global Threat Intelligence
Payments' new Commerce Solutions suite of products, team revealed there were 240 ransomware attacks in
dedicated to helping merchants adapt to the rapidly February 2023, a 45 percent increase from January.
evolving payments landscape. Its biometrics-based pay- The volume of activity is the highest recorded by NCC
ment pilot includes palm and face identification for Group for this period, up 30 percent over February 2022
payments authentication in-store and works on an (185), and 2021 (185). The rise highlights the growing
enroll-capture-authenticate-pay basis. Global biometric threat of ransomware attacks, as the threat landscape
payments are expected to reach $5.8 trillion and 3 bil- continues to evolve, researchers stated. Threat actors
lion users by 2026, according to Goode Intelligence. J.P. LockBit 3.0 drove the majority of February's activity,
Morgan Payments' biometrics pilot offering, J.P. Morgan with 129 ransomware attacks (54 percent). It marks a
stated, should allow for fast, secure and simple checkout 150 percent spike in the group's activity compared to
experiences for its merchants' customers, delivering January (50 victims). BlackCat (13 percent) was the sec-
a modern payments experience to enhance customer ond most active threat actor, followed by relatively new
loyalty. The company added that J.P. Morgan Payments threat actor BianLian (8 percent), with 20 victims.
is uniquely positioned to enable this solution to meet
shopper expectations without compromising security Sift finds fraudsters recruiting consumers
and reliability.
Sift, a provider of digital trust and safety, released its
VizyPay wins bronze in 2023 Stevie Awards Q1 2023 Digital Trust & Safety Index, which found that
16 percent of consumers recently surveyed admitted to
VizyPay was given a bronze Stevie Award for Customer committing, or know of someone who has taken part
Service Department of the Year in financial services. in, payment fraud. In addition, 17 percent of consum-
This marks the seventh award VizyPay has received ers surveyed have encountered online offers to com-
from the Stevies in the last three years, including two mit payment fraud, a symptom of fraud's accessibility
golds, three silvers and two bronze placements in and democratization among everyday internet users.
categories such as Fastest Growing Tech Company, Consumer data was collected via a survey of over 1,000
Minority-Owned Business, FinTech Solution, and more, U.S. adults. Additionally, Sift's report includes fraud
VizyPay stated, adding that it is disrupting the industry data findings from the company's global network of
with transparent, simple and honest services catered to over 34,000 sites and apps. These combined insights
the needs of small business owners. The sales partner have revealed the latest techniques fraudsters are adapt-
support and merchant tech support teams service over ing to turn stolen data and proven attack methods
12,000 merchants and over 700 sales partners across the into profitable—and marketable—products and services
country, and the support teams are a crucial aspect to amid shaky economic conditions, researchers found.
maintaining the company's values while developing
positive relationships with customers and sales partners
in the field, VizyPay noted.
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