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IndustryUpdate

ANNOUNCEMENTS 24 percent indicated they prioritize accounts payable
automation software to control costs and manage risks
of accidental payments. Also, accounts payable spend
ETA honors Maverick Payments, was up 54 percent year over year in the first quarter of
Benjamin Griefer 2023 for Corpay respondents. However, SMBs are facing
significant barriers to transforming and digitizing their
Maverick Payments was named ISO of the Year at the business payments processes: 29 percent of respondents
ETA Star Awards. The awards show was presented the considered security concerns as their biggest barrier to
first evening of ETA Transact, the Electronic Transactions digitizing the payments process; 21 percent indicated
Association's annual tradeshow, which took place April concerns over the ease of integrating digital technolo-
24 through 26 in Atlanta. "Maverick is beyond hon- gies; and for 23 percent of respondents, a preference for
ored to be recognized by the Electronic Transactions cash is their biggest barrier to digitizing their process.
Association and our industry peers," said Alan Griefer,
CEO of Maverick Payments. "The experience, passion Alternative payments fuel growth for BNPL, A2A
and commitment our team brings to work every day is
the reason why we have grown and achieved so much Fabrick and its subsidiary Axerve, a payment solutions
over the past few years." Benjamin Griefer, Maverick's provider, released a white paper, Alternative payment
COO, was also recognized by fellow ETA members dur- solutions: how they are changing the payment scene, that
ing the show as one of the ETA's 40 under 40 extraordi- explores how alternative payments are revolutionizing
nary payments executives. banking. The paper explores the evolution of alternative
payment methods and analyzes the market penetration
InComm Payments expands Brazil operations of different methods, such as digital wallets; account-
to-account transfers; buy now, pay later options; and
Payments technology company InComm Payments cryptocurrencies. Alternative payments are projected to
launched InComm Payments Brazil Technology Ltda.,
an information technology (IT) hub dedicated to devel- reach more than $15 billion by 2027, researchers noted.
This growth has been triggered by the increasing needs
oping payments solutions for industries including retail,
financial services, mobile payments and more. Based in of merchants to follow the expansion of ecommerce, the
inability of traditional payments to meet buyers' needs,
Fortaleza, the IT hub expands InComm Payments’ Brazil
operations and is expected to create approximately 200 and the complexity of the checkout process vis-à-vis the
fast, frictionless technologies arising in the digital pay-
jobs throughout the country for various fintech develop-
ment roles, which will support both local and interna- ments' world, they added.
tional projects under the leadership of the company’s Taulia: Half of businesses are paid late
U.S. development teams, InComm stated.
Fifty percent of businesses recently surveyed are being
Payroc a customer service Organization of the Year paid late by their customers, according to a supplier
sentiment study conducted by Taulia, a provider of
Payroc has been named an Organization of the Year win- working capital management solutions. This is the high-
ner in the 2023 Excellence in Customer Service Awards
presented by Business Intelligence Group. These awards, est percentage since the annual survey began in 2014
and a sharp rise from 36 percent receiving payments
organizers stated, celebrate those who are winning by
supporting their own customers and those who are late from the prior year, the company noted. This year,
Taulia's Supplier Sentiment Survey collected perspec-
developing the tools to help others find success. Payroc
earned distinctions in 2021 and 2022, as well. "In every tives from more than 9,600 respondents worldwide and
found only 41 percent are paid on time by their custom-
engagement we have with our merchants, we strive to
serve them with excellence," said Ray Gallagher, vice ers. Adding to business' financial pressures, the survey
noted, 42 percent of respondents expect an increase in
president of Payroc's Merchant Contact Center. "We put
them at the center of all we do with clear intent to keep borrowing costs over the next 12 months; of those 7 per-
cent predicted their costs would increase by more than
improving and providing unique experiences for our
customers." 10 percent. Fifty-nine percent of respondents expressed
interest in taking early payment for a discount at least
some of the time.
RESEARCH
The Payments Association
SMBs digitize to manage costs, please customers researches data sharing
A new survey of over 600 small and midsize business The Payments Association, which celebrates innova-
(SMB) owners by business payments company Corpay tion and collaboration across the payments industry,
found that SMBs are investing in digitalization as a way released a white paper, Data Sharing to prevent Economic
to manage costs and accommodate changing customer Crime: Why you can now share data with confidence, exam-
preferences. AP automation is a key area of investment: ining current arrangements for sharing data to prevent
economic crime in the UK. The paper recommends ways
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