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IndustryUpdate

confirms that consumers favor less introduction of the Tap to Pay solution and the physical card, enhancing
rewards when shopping. Findings financial access in Mexico, where 40 percent of consumers lack formal finan-
include: 92 percent of respondents cial services. Kyle Miller, Nelo's CEO, emphasized the significance of this
own a card, with 50 percent pre- collaboration, while Alejandro Del Rio from Paymentology highlighted their
ferring cash back due to its versa- commitment to financial inclusion. Nelo recently secured significant invest-
tility. While 74 percent of credit ment, including from Homebrew and Two Sigma Ventures.
cardholders surveyed earned cash
back, only 24 percent of debit users Paysafe, Eightcap enhance digital wallet
did. Opportunities abound for busi-
nesses offering tailored rewards, Paysafe and Eightcap are bolstering their partnership with the launch of an
researchers noted, as 58 percent of embedded trading wallet solution. Initially partnering in 2016, this expan-
participants might switch cards for sion combines Paysafe's digital wallet infrastructure with Eightcap’s trading
better cash back rates, and 59 per- technology, offering a white-label trading and payment wallet for global
cent check for offers before shop- retail traders. This integration ensures convenient, secure trading and digital
ping. wallet services for customers within a combined global licensing framework.
Eightcap's unique B2B embedded trading API enables partners to offer a wide
range of tradable instruments, the partners stated. Both companies indicated
PARTNERSHIPS they see this as a revolutionary step in enhancing the trader's experience.

Hallmark, Venmo team up Rakbank, UnionPay foster contactless in UAE
Hallmark and Venmo partnered to Rakbank and UnionPay International are collaborating to boost contactless
launch Hallmark + Venmo Cards, mobile payments in the UAE. Rakbank updated its terminals to support
stating this new initiative allows UnionPay's contactless payments, permitting the use of mobile wallets like
customers to send money secure- ApplePay. This partnership, the first of its kind outside Mainland China,
ly via a physical Hallmark card, aims to provide a seamless payment experience for UnionPay cardholders
revolutionizing the gifting experi- in the UAE. Enhancing UAE's vision of a cashless society, the collaboration
ence. The collaboration integrates
Venmo's digital payment conve-
nience with Hallmark's traditional
card-giving. Around 78 percent of
Venmo users regularly give money,
and this new offering provides
an innovative physical card with
embedded Venmo payment, elimi-
nating concerns over lost cash or
checks, the partners noted. The card
features a unique QR code which,
when scanned by the recipient,
transfers the gifted amount to their
Venmo account. Available for an
assortment of occasions, the cards
are available on Hallmark's website
and at select stores.
Paymentology, Nelo focus on
Mexico
Paymentology, a global issuer-pro-
cessor, teamed up with Mexico's
Nelo, a consumer payment plat-
form, to facilitate its Mastercard
transactions through Google Wallet
and to introduce physical cards.
Nelo, having completed over 6 mil-
lion online transactions, offers a
unique credit card allowing par-
tial biweekly payments, the Nelo
stated, adding that the partnership
with Paymentology ensures a seam-

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