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IndustryUpdate

New payments infrastructure With CNP fraud predicted to cause $35.8 billion in glob-
forming for US, Mexico al losses in 2024, An Post and Safecypher highlighted
their partnership's potential to provide peace of mind
The Interledger Foundation and the People's and financial security for customers.
Clearinghouse are collaborating to enhance cross-border
payment infrastructure for community banks and credit Stripe picks Fifth Third for
unions in rural Mexico. This initiative aims to stream- embedded financial services
line remittances between the United States and Mexico,
benefiting the 140 community banks under the Mexican Fifth Third Bank heralded a partnership between
Association of Social Sector Credit Unions, Interledger Newline by Fifth Third and Stripe to expand embedded
stated. By leveraging the Interledger Protocol and Rafiki financial services for Stripe's platform users. Newline
software, the partners stated, they aim to empower local will power Stripe Treasury, allowing software platforms
banks to directly receive remittances, fostering local on Stripe to offer embedded financial accounts. This
investments. This project, supported by Mojaloop and collaboration aims to enhance Stripe's ability to deliver
Thistaworks, serves as a global model for democratizing compliant embedded money movement solutions. Fifth
payments in underserved regions, promising significant Third, with a history of innovative payment strategies,
social and financial benefits, they added. will leverage its capabilities to support Stripe's high
service standards, the partners stated. Fifth Third pro-
Mangopay, ManoMano to power cesses $17 trillion annually and has been named among
marketplace payments Ethisphere's World's Most Ethical Companies for several
years, they added.
Mangopay, a payment infrastructure provider, formed
a global partnership with ManoMano, a European ACQUISITIONS
marketplace for DIY, home improvement and garden-
ing. This collaboration aims to enhance ManoMano's
platform capabilities and simplify payments for sellers. Fortis acquires MerchantE's NetSuite division
Mangopay will support ManoMano's expansion into the
enterprise market and global commerce. The partnership Fortis, a provider of payments technology, acquired
will streamline payment processes, manage cross-border MerchantE's NetSuite payments division, enhancing its
payments, and enhance seller verification. Mangopay's embedded payment solutions for ERP customers. This
flexible infrastructure will aid ManoMano's growth in strategic move boosts Fortis' leadership in embedded
markets like the UK and China, providing customized ERP payments, ensuring efficient, hassle-free commerce
payment systems and improving the seller experience. experiences, Fortis stated, adding that customers will
benefit from seamless activation, no programming costs,
PCI SSC, SequenceShift now collaborating automatic transaction posting and reconciliation. Fortis
CEO Greg Cohen highlighted plans for expanding fea-
SequenceShift, a provider of PCI compliance solutions tures, including next-day funding, click-to-pay invoic-
for Amazon Connect Contact Centers, joined the PCI ing, ecommerce integrations and advanced security
Security Standards Council (PCI SSC) as an Associate measures. MAPP Advisors advised MerchantE on the
Participating Organization. SequenceShift will collabo- transaction.
rate with the PCI SSC to enhance global payment
data security through the development and adoption Innovative Payment Solutions,
of PCI security standards. This partnership enables Business Warrior to merge
SequenceShift to contribute to the standards develop-
ment process, recommend new initiatives and share best Innovative Payment Solutions Inc. and Business Warrior
practices. SequenceShift CEO Dmitri Muntean empha- Corp. (BZWR) agreed to merge, with IPSI acquiring 100
sized that this is a significant milestone in advancing percent of BZWR. This strategic merger aims to achieve
payment security and protecting sensitive data globally. cost efficiencies, raise additional capital, and optimize
talent and networks, boosting business growth and
Saafecypher, An Post tackle CNP fraud profitability. BZWR shareholders will receive 45 percent
of IPSI's post-merger shares. IPSI's advanced payment
Safecypher, a European card payments security com- technology, expected to revolutionize medium and
pany, partnered with An Post to launch advanced anti- high-risk processing sectors, will complement BZWR's
card fraud technology to combat card-not-present (CNP) PayPlan software for lenders, IPSI stated, adding that the
fraud. This technology replaces static CVV numbers merger, subject to customary conditions and approvals,
with dynamic, transaction-specific CVVs, designed to will create a strong, integrated entity with innovative
enhance security for online and phone transactions. The FIs.
new technology is integrated into An Post's payments
app.

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