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IndustryUpdate
bership contributes expertise to drive sector advance-
ment and inform consumer protection regulations. Clear
Junction's technology enables regulated institutions
compliant access to accounts, virtual IBANs and pay-
ment networks, empowering clients with faster market
entry, access to new markets and innovative payment
solutions, the company added.
RESEARCH
J. D. Power finds BNPL customer satisfaction surges
The J.D. Power 2024 U.S. Buy Now Pay Later Satisfaction
Study revealed increasing consumer satisfaction with
BNPL services despite concerns about consumer debt.
Key drivers of satisfaction for respondents in the study
include easy account review, security and reasonable
terms. Researchers noted that financially healthy con-
sumers are most satisfied, but there's room for improve-
ment in account management. In addition, they found
ANNOUNCEMENTS that BNPL brands are gaining reputation and loyalty,
with Plan It by American Express ranking highest in sat-
Abrigo elevates women in banking isfaction, followed by My Chase Plan and Citi Flex Pay.
The study, part of J.D. Power's POS payment studies,
Abrigo launched the Women in Banking Network on surveyed 4,135 customers from September to November
International Women's Day, March 8, 2024. The aim is to 2023.
empower women in banking through a nationwide pro-
gram offering networking, mentorship, an online forum, NRS issues February 2024 same-store sales report
internal women's group and more. Laurie Stewart, CEO
at Sound Community Bank, highlighted the network's National Retail Solutions' NRSInsights reported
value in fostering diversity and efficiency. Melissa February 2024's same-store sales were up 3.5 percent
Marsal, CEO of West Town Bank & Trust, emphasized year-over-year and 7.4 percent from January, with nota-
its importance for women's leadership. Abrigo under- ble increases in Arizona, Montana and Wyoming. Candy
scored the network's alignment with its mission to sales surged while sparkling wine/champagne declined.
support financial institutions and the communities they As expected, Valentine's Day and winter weather events
serve by providing resources that help women bankers impacted sales, NRS noted. NRS said its three-month
build lasting connections that drive long-term success. moving average same-store sales data outpaced the U.S.
Commerce Department's data by 4.3 percent on aver-
BankSocial unveils 'Web3-powered' RTP age. The report reflects transactions from approximately
29,100 active terminals in independent retailers nation-
BankSocial stated it has introduced payment capa- wide, showcasing $17.8 billion in sales over the past 12
bilities with Web3 compatibility to enhance credit union months, NRS stated.
platforms for the digital asset era. CEO John Wingate
emphasized BankSocial's unique approach in staying SEON reports alarming surge in fraud risks
attuned to regulatory shifts and consumer data owner-
ship sentiments. According to BankSocial, credit union Emphasizing an urgent need for proactive anti-fraud
partners highlighted the importance of staying prepared strategies, SEON launched Fraud Trends 2024, a guide
for future payment trends and emphasized the signifi- created to address the escalating challenges of fraud
cance of embracing innovative solutions like real time that businesses face. Findings of a recent SEON survey
payments to enhance service offerings and adapt to revealed widespread acknowledgment of increasing
evolving developments in payments. fraud volume, driven by AI technology and economic
pressures. AI was identified by respondents as a major
Clear Junction joins UKCBC challenge, particularly in automated attacks. The survey
also revealed that phishing, identity theft and money
Clear Junction, a provider of cross-border payments, laundering are expected to rise. SEON emphasized that
said it joined the UK Cryptoasset Business Council to strategic investment in fraud prevention, including real-
support crypto ecosystem growth and further UKCBC's time data and AI, is crucial for businesses to combat
aims to engage policymakers, promote collaboration evolving fraud dynamics.
and advocate for clear regulation. With crypto gaining
mainstream acceptance, Clear Junction noted, its mem-
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