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IndustryUpdate

ers were enthusiastic about digital offerings, from con- Stax and PayPal reflects a shared vision to deliver seam-
nected vehicles to digital health services, but they were less experiences that help merchants grow their busi-
equally wary of security risks associated with them. nesses and sell more.

This year’s research found those contradictions remain, SunCash, LISNR team up on CBDC payments
but by expanding the geographic scope to the United
States, Mexico and Singapore, Utimaco believes it deep- SunCash, a mobile and digital payments company
ened its understanding of trust in digital life. Researchers licensed and regulated by the Central Bank of the
found only 19 percent of respondents don’t worry about Bahamas and the Securities Commission, inked a part-
the security of their data; 36 percent have been victims of nership with LISNR, a provider of proximity verifica-
data loss, identity theft or digital fraud; and 41 percent tion, to enable ultrasonic authentication for online,
believe a connected world would make their everyday offline, and central bank digital currency (CBDC) trans-
lives easier. actions. SunCash said it continues to drive large CBDC
adoption after onboarding the world’s first business and
customer that processed a CBDC transaction.
PARTNERSHIPS
By combining LISNR’s ultrasonic payment capabilities
MAP to offer real-time rewards via AmpliFI and SunCash’s regional experience with consumer and
merchant CDBC platforms, the Caribbean and Latin
Member Access Processing, a provider of the Visa DPS America will become a leading adopter of digital econo-
debit, credit, ATM, prepaid, and mobile processing plat- my solutions, the partners stated.
form to credit unions, will now offer the ampliFI Loyalty
Solutions’ real-time rewards suite to its mutual client True Digital, TBA to collaborate
credit unions that use MAP for their credit and debit
card processing. True Digital Group—a provider of a digital vendor opti-
mization network that supports banks in their discovery,
The ampliFI suite of real-time reward solutions enables diligence, implementation, and monitoring of technol-
cardholders to redeem points at checkout, at the pump ogy vendors—formed a strategic partnership with the
or after a transaction to gain exclusive discounts and Texas Bankers Association.
credits for using their rewards card. The real-time
redemption suite includes Fuel With Points, Pay With The True Digital Platform, available to TBA bank mem-
Points, and Checkout With Points. bers, is expected to further enhance the association’s
Magnet innovation program by providing a more accu-
Nexi, Shopware expand partnership rate and complete picture of the current issues and tech-
nology voids challenging the competitiveness of com-
European paytech Nexi and German ecommerce pro- munity banks. TBA’s Magnet program is designed to
vider Shopware agreed to expand their collaboration, be an innovation facilitator that bridges the technology
establishing a platinum partnership in Europe. Nexi gap between community banks, customers and industry
stated it continues to invest in strategic partnerships to needs.
shape and define the future of payments in Europe, sup-
porting its ambition to drive the transition to a cashless ACQUISITIONS
Europe by making digital payments simpler, faster and
safer for everyone.
Coinsquare, WonderFi, CoinSmart combine
The partnership with Shopware, Nexi added, represents
another step forward in its mission. Nexi is helping Canada-based fintech Mogo Inc. reported that Coinsquare
Shopware consolidate its market position in Central Ltd.—in which Mogo had a 34 percent ownership
Europe, while expanding its presence in Italy and stake—WonderFi Technologies Inc. and CoinSmart
Southern Europe. Financial Inc. closed their previously announced busi-
ness combination transaction. This transaction positions
Stax, PayPal team up to expand customer choice the resulting entity, WonderFi, and its registered operat-
ing subsidiaries, as one of the largest regulated crypto
Stax Payments is now working with PayPal to offer a investing ecosystems in Canada offering Canadians a
comprehensive solution for accepting payments online range of diversified products and services, including
for its customers. Eligible Stax Payments customers can retail and institutional crypto trading, staking products,
now accept payments with PayPal, Venmo and PayPal B2B crypto payment processing and digital asset cus-
Pay Later options. Beyond new payment options, the tody. It will also soon include sports betting and gaming.
collaboration with PayPal offers Stax customers near
instant access to funds, fraud detection, seller protection Mogo is the largest shareholder of the combined com-
on eligible transactions, and PayPal's built-in compliance pany, owning approximately 14 percent.
standards, Stax stated, adding the collaboration between
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