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IndustryUpdate

In 2024, the company achieved key milestones, including
establishing a regional headquarters in Riyadh, securing
certifications from Saudi Payments and the UAE, and
forming partnerships with banks like SAB and Emirates
NBD, the awarding judges noted, adding that with a
network supporting 600+ payment methods, PayerMax
continues empowering businesses and advancing digital
payments globally.

'Transaction Alley' shares
safe holiday shopping tips
The Georgia Attorney General's Office, in partnership
ANNOUNCEMENTS with the Innovative Payments Association, American
Transaction Processor’s Coalition and InComm
Cantaloupe wins two major awards Payments, shared tips to combat holiday scams. Advice
included using secure websites, avoiding rushed deci-
Cantaloupe Inc., a provider of self-service commerce sions, and being cautious with gift cards and alternative
technology, received two prestigious awards from the payment methods.
Technology Association of Georgia (TAG): the TAG
Fintech ADVANCE Award and the 2024 Innovation They emphasized vigilance against fraud targeting
Driven Company Award. These accolades, presented at older adults and provided resources like the Georgia
Fintech South and the TAG Technology Awards, recog- Consumer Protection Guide. The initiative aims to
nize Cantaloupe’s innovation and leadership in advanc- protect consumers and retailers while strengthening
ing fintech solutions, the company stated. Georgia's "Transaction Alley" payments industry.

CEO Ravi Venkatesan emphasized Cantaloupe's role RESEARCH
in pioneering cashless, contactless payments and self-
service retail. The awards, he noted, affirm Cantaloupe’s
commitment to empowering businesses with cutting- Concryt spotlights global fraud hotspots
edge technologies that enhance efficiency, customer Seeking to identify global fraud trends and hotspots,
engagement and the consumer experience. fintech company Concryt analyzed Google Trends data
Fraud Week 2024 highlighted AI-driven deception and noted heightened search interest in digital fraud
terms like “crypto fraud” and “phishing.” In particular,
During International Fraud Awareness Week (Nov. high-profile breaches and regulations drove a surge in
17 to 23, 2024), SAS, a data and AI software solutions "crypto fraud" searches in 2024. Key regions demon-
provider, collaborated with the Association of Certified strated distinct fraud patterns, which points to a need
Fraud Examiners and more than 1,000 organizations for region-specific solutions.
worldwide to spotlight anti-fraud strategies. The week
featured educational initiatives like webinars on genera- The UK and Ireland lead Europe in authorized push
tive AI's role in fraud detection, practical tools for fraud payment fraud concerns, while the United States tops
prevention, and industry case studies. North American searches, with state-level spikes tied to
corporate and gaming fraud. Asia’s top searches reflect
Events emphasized the use of real-time analytics and digital vulnerability, and data from Ethiopia shows
AI to counter escalating fraud threats, with organiza- growing fraud exposure in Africa.
tions like Techcombank, Nexi Group and Quálitas MX
showcasing advanced fraud detection solutions. Fraud Holiday spending debt skyrockets
Week promoted global discussions on combating fraud Debt.com's annual holiday shopping survey revealed
through technology, awareness and proactive strategies. that 66 percent of Americans plan to incur debt this
MEA recognizes PayerMax holiday season, driven by credit cards and buy now, pay
later (BNPL) services. More than one in four respondents
PayerMax, a payment solutions provider, was named expect to take on $900 or more in debt, with millennials
Best Payments Solutions Provider of 2024 by MEA leading in combining credit cards and BNPL.
Finance magazine at a Dubai ceremony. The award recog-
nizes PayerMax’s innovative technologies, leadership in AI-recommended gifts encourage overspending, with
payment solutions, and commitment to the Middle East 65 percent of respondents likely to spend more on AI
and Africa. suggestions. BNPL users primarily finance clothing,
electronics and jewelry. Meanwhile, despite these tools'
convenience, experts have urged consumers to budget
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