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IndustryUpdate

Digital ID could provide legal identities for millions ACQUISITIONS

According to the World Economic Forum, 850 million
people lack legal identity, impeding access to essential i3 Verticals to sell merchant of record biz to Payroc
services and jobs. Digital identity, which uniquely iden-
tifies individuals, companies or objects, can enhance i3 Verticals Inc. agreed to sell its merchant of record
service access and security, especially in finance, the payments business, including proprietary technology, to
Fintech District stated. Payroc WorldAccess LLC for $440 million. Greg Daily,
CEO of i3 Verticals, highlighted the significance of this
The firm's latest Community Insight report emphasized sale, which will refocus the company on its software
the significance of digital identity in streamlining opera- solutions for the public sector, education and healthcare
tions. markets.

The report also highlighted the growth of regtech, with The transaction is expected to simplify i3's operations
Fintech District stating it addresses regulatory compli- and strengthen its balance sheet by reducing debt.
ance efficiently while fostering innovation and anticipat- Payroc CEO James Oberman emphasized the alignment
ing industry trends. of values and goals between the two companies and
believes the deal will lead to growth for i3's partners
and team members. The deal is expected to close in
PARTNERSHIPS i3 Verticals' fiscal fourth quarter, pending regulatory
approval.
Charac picks Ryft's payment platform
Raptor expands with acquisition of PayK12
British payments fintech Ryft partnered with digital
pharmacy platform Charac to reduce processing fees Raptor Technologies, a U.S. provider of school safety
for independent pharmacies by over 30 percent. This software, acquired PayK12, which offers online ticketing
partnership enhances Charac’s app, which streamlines and payment solutions for K-12 schools and athletics.
repeat prescriptions, consultations, deliveries and mar-
keting for pharmacies, the partners stated. This acquisition enhances Raptor's safety and admin-
istrative tools, extending security beyond the school
With Ryft’s PCI Level 1 and PSD2 compliance, Charac campus, Raptor stated, adding that PayK12's platform
now enables pharmacies to adopt modern payment solu- securely processes payments for events, fees and pro-
tions like ApplePay and GooglePay, they noted, adding grams, simplifying payment management for schools
that this collaboration also addresses funding declines while ensuring top security standards.
in the pharmaceutical sector, enabling pharmacies to
digitize cost-effectively. Raptor also noted that the integration complements its
VisitorSafe and EventSafe products, offering a seam-
Key executives for both companies emphasized the less experience for managing safety and administrative
partnership's role in making community pharmacies duties.
financially sustainable.
APPOINTMENTS
Swipesum, 4aGoodCause, Authorize.net team up
Swipesum and Authorize.net, a Visa solution, are work- Stephen Bowe joins Paymentology
ing with 4aGoodCause to improve payment process-
ing and customer support for nonprofit organizations. Paymentology, a global issuer-processor, appointed
Swipesum offers dedicated payment support and Stephen Bowe as its chief product officer. With over
AI-powered tools to uncover and reduce hidden fees. 15 years of experience in banking and payments, Bowe
Authorize.net provides secure and flexible payment indicated he aims to drive innovation in Paymentology's
options designed to enhance reliability and fraud pre- products and expand the company's next-generation
vention. payments infrastructure. He will focus on seamless API
integrations to simplify payment solutions and enhance
4aGoodCause strives to simplify fundraising with tools card program management worldwide. Bowe's exten-
for online donations, event sign-ups and donor manage- sive international experience includes roles at Accenture,
ment, supporting nonprofits in building deeper donor BT, Vodafone, UBank, Bank of New Zealand, WorldFirst
connections and stable income sources. The collabora- and Nationwide Building Society.
tion aims to streamline payments, boost donation con-
version rates and ensure nonprofits retain more of their His appointment also is expected to strengthen
funds. Paymentology's customer-centric approach, ensuring
continuous growth and innovation.

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