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IndustryUpdate

Swivel enhances financial management and payment
efficiency for more than 2,000 institutions. Swivel CEO
Jason O’Brien highlighted Swivel’s role in shaping the
future of payments technology.
TPA investigates fraud through eyes of the victim

The Payments Association and We Fight Fraud, sup-
ported by Cardaq, released a documentary exploring the
impact of new UK Authorised Push Payment legislation,
highlighting how criminals may exploit it. Titled The
New APP Rules: What They Mean for Consumers, Fraudsters
and the UK, the film features insights from stakeholders,
experts, a fraud victim and an active criminal. It critiques
the Payments Systems Regulator's rules, urging a lower
reimbursement threshold and addressing fraud at its
source. The documentary calls for stronger consumer
protections and collaboration to combat financial crime
ANNOUNCEMENTS effectively. To watch the documentary, visit https://youtu.
be/vjC2rNKGM0k.
BHN launches Giftcard.com Gift Card
RESEARCH
Blackhawk Network introduced the Giftcards.com Gift
Card, available online now and in-store soon. This card
offers access to 350 top brands, including multi-store Contactless lead in Canada’s in-store purchases
options, making it an ideal holiday gift, BHN stated, The Canadian Payments Forecast, 2024, published by
adding that the card has no fees, no expiration and cus- Technology Strategies International Inc. found that in
tomizable delivery options. According to BHN research, 2023, contactless payments in Canada surged by 17
81 percent of consumers plan to buy gift cards in 2024, percent, accounting for 63 percent of all in-store pay-
up from 70 percent in 2023. With load amounts from $25 ments, with the total value growing by over $80 billion.
to $500, the new card offers flexibility and ease, provid- Key drivers include widespread use of contactless debit
ing a seamless gifting experience for any occasion, the and credit cards, high merchant adoption of contactless
company noted. terminals, and an increased contactless payment limit to
Swipesum ranked top MSP for $250 during COVID-19. While cards dominate, mobile
and wearable payments have seen strong growth, with
franchises by Entrepreneur in-store mobile transactions rising 42 percent and repre-

Swipesum, a payment processing and merchant services senting 23 percent of contactless payments.
provider, reported it was ranked #1 in Entrepreneur's NCC issues second cyber policy report
2024 Top Franchise Suppliers for merchant services,
surpassing companies like Square, Stripe and First Data. NCC Group released the second edition of its Global
The ranking is based on feedback from over 1,100 fran- Cyber Policy Radar, which highlights key regulatory
chisors. Michael Seaman, Swipesum's co-founder and changes in cybersecurity for 2024, with a focus on
CEO, highlighted the company's commitment to pro- data privacy. The report warns that fragmented global
viding efficient, cost-effective solutions for franchisors. regulations and growing liabilities for senior lead-
Judges noted that Swipesum offers custom payment ers will require careful navigation by organizations.
solutions, AI-driven audits to reduce fees, PCI compli- Governments are also tightening rules on offensive
ance assistance, and ongoing customer support, enabling cyber tools, impacting security testing. Data privacy
franchisors to focus on core business operations. fines have surged, with over $7.3 billion in penalties
since 2020, predominantly in Europe. The report offers
Swivel a PayTech Awards USA 2024 finalist guidance on navigating these complexities and aligning

SWBC's Swivel Transactions LLC was named a finalist cybersecurity strategies for the future.
in two categories for the PayTech Awards USA 2024: Idea of vehicles as digital wallets
Tech of the Future and Top Innovation in Payments –
Solutions for Banks & FIs. Recognized for its transaction appeals to Americans
enablement platform, Swivel supports various payment Verra Mobility Corp. conducted a survey of 2,000
options like ACH and card transactions while facilitat- Americans who own or lease vehicles, 2019 or newer,
ing instant payments with advanced encryption and that explored attitudes toward connected vehicle ser-
real-time data posting, award judges noted, adding that vices. The survey found that over half of respondents

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