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IndustryUpdate

Global commerce company Shopify approved real-time and ERP ecosystems, was founded to bring enhanced
payments gateway Volt as a global open banking part- technology solutions to the small business community,
ner. Merchants across Europe, the UK and Brazil that and brings its exceptional team, productive customer
have integrated Shopify can offer Volt's Pay by Bank relationships, and rich capabilities to the company,
solution at checkout, enabling their customers to initiate Fortis stated.
real-time account-to-account payments – with funds set-
tling near instantly, Volt stated. SmartPay founders and former managing partners Mike
Sheffey and Nate Schloss will join the Fortis leadership
The solution will be made available to Shopify merchants team as part of the acquisition. MAPP Advisors acted as
in additional countries over the coming months, starting advisers to SmartPay for the transaction. SmartPay also
with Australia in the fourth quarter of 2023. Shopify, rolled out new settlement and funding capabilities and
which serves millions of active merchants across 175 expanded into Canada.
countries, began seeking open banking partners amid
growing demand from merchants for faster, safer and Digital ID provider Socure gains Berbix
more cost-effective payments, the partners noted.
Socure, the provider of digital identity verification solu-
tions, said it acquired Berbix, a San Francisco-based
ACQUISITIONS startup that developed a high-accuracy document veri-
fication solution with a patent-pending forensics engine
Fortis acquires SmartPay, expands into Canada able to detect spoofed IDs—including AI-generated
fakes—that are visually indistinguishable to the human
Fortis, a payment and commerce technology provider for eye.
software providers, marketplaces and scaling businesses,
acquired embedded payments provider SmartPay and The approximately $70 million cash and stock transac-
rolled out enhanced funding and settlement capabili- tion marks the first acquisition for Socure. With the
ties to meet rising demands from its clients. SmartPay, integration of Berbix's technology complete, Socure also
which has strong partnerships in the enterprise software launched its Predictive Document Verification (DocV)

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