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IndustryUpdate

ANNOUNCEMENTS device with a camera, while ensuring the security of
their identity. Wink stated its innovation in areas of
facial and voice recognition—especially with its new
FIDO Alliance publishes voice liveness detection technology—solidifies its posi-
passkey UX guidelines tion as an industry frontrunner.
The FIDO Alliance released new user experience (UX)
guidelines to help accelerate adoption of passkeys. The RESEARCH
FIDO Alliance UX Guidelines for Passkey Creation and
Sign-ins aim to help online service providers design FPC addresses cross-border payments
a better UX when signing in with passkeys. Based on
FIDO standards, passkeys replace passwords and pro- The U.S. Faster Payments Council (FPC), a membership
vide faster, easier, more secure sign-ins to websites and organization devoted to advancing safe, easy-to-use
apps across a user's devices, the alliance stated. faster payments in the United States, published the third
edition of the Cross-Border Payments Bulletin in its Faster
Research performed for these guidelines indicates pass- Payments Knowledge Center. The FPC Cross-Border
key sign-ins present a distinct user journey that service Payments Work Group developed this bulletin to fur-
providers need to consider before providing passkey ther explore the effect of central bank digital currencies
support. The guidelines are available at https://fidoal- (CBDCs) on cross-border faster payments. The bulletin
liance.org/ux-guidelines. examines the CBDC market landscape, the distinction
of wholesale versus retail distribution of CBDCs, and
Fleetcor agrees to comply with how liquidity management is orchestrated in the CBDC
court ruling in FTC case world. The bulletin also examines recent CBDC pilots
and provides lessons learned from those and other
Fleetcor Technologies Inc. received a court order in the research projects.
FTC marketing practices and disclosure case the com-
mission filed against the company in December 2019. Threat management spend
The FTC alleged that Fleetcor charged hundreds of to reach $14 billion by 2028
millions of dollars in hidden and undisclosed fees to
its customers after making false promises it could save A new study from Juniper Research revealed that
them money on fuel costs. spending on unified threat management by enterprises
will increase by 98 percent between 2023 and 2028 glob-
The court order limits injunctive relief to Fleetcor’s fuel ally, from $7.5 billion in 2023. As the cyberthreat land-
card business in the United States and requires the com- scape becomes more complex, with growing enterprise
pany to implement a set of disclosure practices, such as cloud adoption, IoT devices being used and AI power-
crediting customer payments on receipt date or provid- ing new threats, unified threat management is necessary
ing notice to customers in advance of receiving a new to remain secure, Juniper stated, adding that enterprises
fee. Fleetcor stated it will comply with the order and has will increase investment as they come to terms with the
already voluntarily implemented multiple disclosure expanding threat landscape.
enhancements.
Unified threat management provides a single hardware
SmartStream touts AI-enabled cash onboarding or software installation that includes multiple security
functions, Juniper noted.
SmartStream, a financial transaction lifecycle manage-
ment solutions provider, heralded its latest version of Paysafe studies consumer spending,
SmartStream Air—with new AI functionality designed payments preferences
to onboard cash balances faster and more accurately,
while improving cash reconciliations. The key unique Consumer demand for travel, leisure and other experi-
selling proposition for SmartStream Air version 8 is for ences remains strong despite increased cost of living,
quick and easy onboarding of cash balances; plus, it pro- according to Paysafe's annual Lost in Transaction' study:
vides a competitive advantage by outperforming slow, Consumer Payment Trends 2023: How consumers' shifting
expensive and ineffective systems, the company stated. priorities are impacting the experience economy. Paysafe sur-
veyed 14,500 consumers across multiple world regions
Wink wins Best of Show at FinovateSpring 2023 and found that 51 percent are prioritizing spend in these
Wink, a provider of multimodal biometric authentica- leisure areas over other discretionary spending.
tion and payments, was named Best of Show winner
at FinovateSpring 2023. During a seven-minute, live Research also revealed that more than 27 percent of con-
on-stage demo, Wink's founder and CEO, Deepak Jain, sumers are spending more on eating out and takeaways
showcased a user logging into their account on any than they did before the cost-of-living crisis, 25 percent

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