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IndustryUpdate

are top challenges for tech investment, and globally, the surge, as checkout innovation rises; and B2B BNPL to
average cost of a single KYC review has increased to provide critical financing for SMEs.
$2,598, they added.

NCR Voyix the largest POS software provider PARTNERSHIPS

NCR Voyix Corp., a global provider of digital commerce BHMI, NCR Atleos partner on transaction software
solutions, maintains its position as the world's largest
POS software supplier, according to RBR Data Services' Payment solutions provider BHMI signed a reseller
Global POS Software 2023 study. NCR Voyix leads in agreement with NCR Atleos, which will now offer
total and new restaurant installations and the Grocery+ BHMI's Concourse Financial Software Suite. Concourse,
category, encompassing grocery, convenience and drug a real-time payment processing solution, handles settle-
stores. This top ranking has been held since the study's ment, reconciliation, disputes management and fees
inception in 2016, RBR noted. NCR Voyix CEO David processing. NCR Atleos, a provider of self-service bank-
Wilkinson emphasized the company's commitment to ing for banks and retailers, specializes in ATM and POS
innovation and customer partnership. The study cov- transaction technologies to bolster financial services
ered over 1,000 POS installations globally by 125+ indus- with cost savings, agility and competitiveness. BHMI
try suppliers, totaling nearly 9 million installations. CEO Jack Baldwin said Concourse's continuous process-
ing architecture and powerful rules engine make it ide-
Paysafe shares holiday ecommerce ally suited to complement the market-defining solution
growth strategies set being offered by NCR Atleos.
Paysafe's new research reveals that 64 percent of U.S. Link Money, Bold Commerce boost pay-by-bank
consumers would abandon a purchase due to check-
out complications, making it crucial for merchants to Link Financial Technologies and Bold Commerce part-
improve their checkout experience for the year-end nered to offer Bold Commerce's checkout solution users
holiday season. The study of 14,500 consumers found a access to Link Money's Pay by Bank solution in the
shift toward alternative payment methods for holiday United States. This collaboration aims to help brands
shopping, with 48 percent favoring digital wallets, 40 and retailers reduce payment processing fees, credit
percent using bank transfers, and 29 percent embracing card fraud and churn. With rising credit card fees and
online cash payments. Additionally, researchers noted, fraud incidents, merchants are seeking cost-effective
78 percent of U.S. consumers plan to adjust their spend- alternatives to credit card payments, the partners said,
ing during the holidays due to increased living costs, adding that the integration enables brands using Bold
with 32 percent spending less on gifts. Commerce's checkout solution to offer Link Money's Pay
by Bank across various channels.
Juniper forecasts 2024 payments/fintech trends
Nexi, Compass partner on in-store BNPL
In a new white paper, Juniper Research unveiled the
10 trends that are set to radically impact the fintech European PayTech company Nexi and consumer credit
and payments landscape in 2024, including: 1. A2A company Compass, part of Mediobanca Group, entered
payments to Challenge Cards in eCommerce and for a strategic partnership in the buy now, pay later (BNPL)
Funding Wallets; 2. CBDC use cases to emerge in prac- sector. Compass' BNPL solution, PagoLight, will be inte-
tice; 3. generative AI in banking to transform spending grated into Nexi's SmartPOS, enabling partner banks
insights; digital identity adoption to be catalyzed by dig- to offer retailers a deferred payment solution directly
ital wallet integration; AML tools to increasingly lever- through the payment terminal, eliminating the need for
age AI as alternative payments complicate compliance; additional devices. The partnership aims to capitalize on
sustainable fintech solutions to emerge, as ESG compli- the growing BNPL market, which is projected to reach
ance moves to top of agenda; FedNow to fail to match around $15.93 billion in annual transaction volume by
instant payments success, but value-added services will 2025, according to Politecnico di Milano forecasts.
flourish; mobile financial services to accelerate transition
to banking tech services; biometric in-store payments to REPAY, Blackbaud integrate technology
REPAY Holdings Corp. integrated its technology with
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