Page 16 - GS231202_flipbook

IndustryUpdate

ate their offerings by leveraging technology and collabo- Magnati, Fils aim to drive sustainable finance
rating across the payment ecosystem.
Magnati, a payments solutions provider in the Middle
Mobile emulators eclipse bots as fraud vectors East, is partnering with Fils, an environmental, social
and governance (ESG) criteria-focused fintech platform,
BioCatch released its 2023 Digital Banking Fraud Trends to enhance its sustainability efforts. Through this collab-
in North America report, highlighting the surge in fraud oration, Magnati aims to offer actionable environmental
executed from mobile devices. With mobile banking insights and promote green payments to its merchants.
rates increasing to 73 percent in 2023, mobile fraud Merchants will have access to emissions calculators and
attacks have risen from 47 percent in 2022 to 61 percent offset mechanisms provided by Fils. The initiative aligns
in 2023. The report also noted a re-emergence of check with the United Nations' Net Zero by 2050 strategy and
fraud as the number one fraud type among fraudsters reflects Magnati and Fils' shared commitment to sustain-
across North America, alongside rising Zelle fraud and ability, integrating environmental considerations with
a shift from bots to mobile emulators. Researchers sug- digital finance.
gested use of behavioral biometric intelligence to effec-
tively combat these evolving fraud trends. Nuvei, Mastercard enter global
payments partnership
PARTNERSHIPS Nuvei and Microsoft are partnering to provide pay-
ment solutions in the Middle East and Africa regions.
Fluid Truck, Car IQ team up for fleet payments Microsoft will use Nuvei's customizable payment tech-
nology to optimize payments for its Office and Xbox
Car IQ Inc. and Fluid Truck are collaborating to simplify product ranges, benefiting from Nuvei's local market
payment solutions for fleet drivers. Car IQ's real-time expertise. The partnership aims to improve authoriza-
vehicle data enables drivers to pay for services like fuel, tion rates, reduce false declines, and offer relevant local
parking and tolls seamlessly, the partners stated, add- alternative payment methods through a single integra-
ing that this integration into Fluid Truck's app reduces tion. The two companies plan to expand the partner-
operational costs, streamlines payment processes and ship into additional markets and explore new use cases,
enhances driver flexibility. The partnership marks Car potentially extending the collaboration to Microsoft
IQ's entry into the on-demand rental business, aligning Dynamics 365 and other areas.
with the partners' shared mission to simplify payment
management and enhance the user experience for Fluid Treasury Prime, Effectiv
Truck customers while eliminating fleet card complexi- team up on fraud detection
ties.
Treasury Prime partnered with Effectiv, a fraud and risk
FreedomPay, Citi Retail empower POS choice management platform, to offer Effectiv's Transaction
Monitoring solution to companies and financial insti-
FreedomPay, a Next Level Commerce tech enterprise, tutions within Treasury Prime's multi-bank network.
partnered with Citi Retail Services, a North American
retail payments provider to improve the overall shop- Effectiv's solution leverages AI to analyze transaction
patterns and detect anomalous behavior, reducing the
ping experience by providing personalized financing
options. This collaboration enables merchants to offer risk of fraudulent transactions and reputational dam-
age, the partners stated. The partnership aims to pro-
Citi Pay products at the point of purchase, giving con-
sumers flexibility in choosing lending solutions during vide tools to combat fraud and improve security in an
increasingly complex financial ecosystem, especially as
shopping, the partners stated, adding that this innova-
tion leverages FreedomPay's technology and Citi's pay- the adoption of real-time payments and AI-driven fraud
become more prevalent.
ments expertise, offering a seamless experience. It intro-
duces choice and flexibility in POS lending, empowering
consumers and expanding Citi Pay's reach to a wider ACQUISITION
range of merchants, they noted.
SoundHound AI to acquire SYNQ3
SoundHound AI Inc. agreed to acquire SYNQ3 Restaurant
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