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IndustryUpdate

Sopra Banking Software becomes SBS Additionally, shoppers indicated they will leverage AI
and loyalty programs to find deals and increase their
Sopra Banking Software rebranded under the name SBS spending power. Inflation remains a concern, prompt-
as part of a global initiative. This shift, the company ing 45 percent of respondents to change their shopping
stated, reflects its ongoing collaboration with Axway to behavior, focusing on value and rewards.
form an enterprise software group focused on financial
services integration. Founded in 2012, SBS said it serves CONCRYT offers payment gateway best practices
over 1,500 institutions globally, offering SaaS and cloud-
native solutions for scalable digital transformation. CEO CONCRYT’s latest white paper, Payments Gateways:
Eric Bierry emphasized the company’s dedication to Combatting False Declines and Improving Authorisations, is
innovation and future growth. SBS noted it will continue part of the company's mission to help businesses navi-
operating independently, with headquarters in Paris, gate payment gateway complexities to stay competitive
and remain a strategic partner with Sopra Steria, sup- in the digital economy. As such, it guides merchants
porting long-term success for its clients. in choosing the right payment gateway to enhance
customer experience, reduce chargebacks and improve
RESEARCH approval rates. The white paper stresses the critical role
payment gateways play in modern business, offering
insights on how they impact operational efficiency and
Gift cards, loyalty will power holiday spending global commerce. It also addresses the challenges of
failed payments and strategies to mitigate them.
According to Blackhawk Network's annual holiday fore-
cast, consumers plan to spend half of their holiday bud- EBANX: Consumer spend in India
get on gift cards this year due to more gifting occasions, to outpace spend in US
tighter budgets and fewer shopping days. Younger
shoppers, especially Gen Z and millennials, are expected India is projected to surpass $5.4 trillion in consumer
to lead this trend, with plans to buy 25 percent more gift spending by 2034, up from $1.8 trillion, growing at 12
cards than older generations. percent annually—triple the rate of the U.S. and double

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