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IndustryUpdate

by major shareholders including Novacap and CDPQ,
offers shareholders a premium price of $34 per share.
Nuvei's board unanimously recommended the deal,
pending shareholder approval.
TomorrowZone on Monitor's Best Companies list

TomorrowZone reported that it was honored as one of
Monitor's Best Companies for its innovative approach
to digital transformation, which emphasizes the human
element. TomorrowZone CEO Deborah Reuben stated
that while technology is integral to innovation, human
experience is paramount. "Digital transformation is
never only about technology," she said. "It's about trans-
forming human experience. It’s about how your peo-
ple are interacting with and leveraging technology."

ANNOUNCEMENTS TomorrowZone guides clients toward strategic objec-
tives, prioritizing real business needs over new tech-
nologies, Monitor noted, adding that through actionable
Celent honors LexisNexis Risk Solutions roadmaps and measurable goals, the company ensures
LexisNexis Risk Solutions achieved Luminary status in successful digital transformation.
Celent's Financial Crime Compliance Technology: Watchlist Tranglo expands instant cross-border payments
Screening Edition report, which recognizes top-tier
leadership in risk management and data analytics. Cross-border payment hub Tranglo stated it expanded
Celent emphasized the capabilities of LexisNexis Firco its cross-border payment network to over 30 e-wallets,
Continuity, highlighting its real-time transaction filter- offering instant and direct transfers. By bypassing inter-
ing, cloud deployment options and seamless integration mediaries, Tranglo noted, it ensures immediate acces-
with SWIFT for international wire transfers. Celent also sibility to funds, which is crucial for millions of people
praised Firco Continuity's innovations, scalability and in rural areas lacking traditional banking access. Tranglo
recent upgrades supporting Kubernetes-enabled cloud added that its Tranglo Connect service facilitates seam-
deployment, enabling processing of over 40 million less payments to over 80 countries, supporting business-
transactions per day. Trusted by eight of the world's top es globally. Tranglo CEO Jacky Lee noted a doubling in
10 banks, Celent noted, Firco Continuity ensures compli- cross-border e-wallet transactions since 2021, with some
ance with sanctions regulations while adapting to evolv- corridors experiencing up to a 400 percent surge.
ing financial landscapes.

Mercari marketplace eliminates selling fees RESEARCH
Mercari, an online marketplace that connects people Achieve survey offers insights into BNPL use
across the United States to buy and sell used items,
eliminated selling fees as part of a new business model. A survey of buy now, pay later (BNPL) users by
"At a time when other marketplaces are raising fees for Achieve Center for Consumer Insights revealed that
sellers, Mercari is doing just the opposite by becoming while consumers who participated in the survey find
the first and only major U.S. resale marketplace to offer BNPL convenient, 78 percent said it can lead to finan-
zero selling fees," Mercari stated. The company also cial over-extension, with 56 percent finding it hard to
instituted a new returns policy through which buyers track multiple transactions. Despite this, 85 percent of
will be charged a service fee to allow for "hassle-free" respondents believe BNPL aids in financial stability and
returns. "Mercari shoppers can now initiate a return 76 percent believe it improves their financial situation.
within three days for any reason with the assurance of a Researchers also found that 78 percent of respondents
refund, less applicable fees," Mercari said. used BNPL more than once in 2023. While 80 percent
said BNPL disclosures are adequate, 16 percent encoun-
Nuvei to be taken private by Advent tered late fees, and 20 percent incurred interest charges.
Achieve stressed the need for responsible BNPL use to
Nuvei Corp. is set to go private in an all-cash deal led by avoid financial harm.
Advent International, valuing the company at approxi-
mately $6.3 billion. Nuvei, a global payments technol- ClearSale details impact of false declines
ogy provider, boasts over $200 billion in processed
volume and $1.2 billion in revenue. CEO Philip Fayer ClearSale, a global risk technology provider, released
will continue leading Nuvei, backed by Advent's exper- Ecommerce False Declines & Consumer Behavior. The com-
tise in the payments sector. The transaction, supported prehensive report explores the impact of false positives,

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