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IndustryUpdate

Systems East Connects Xpress-pay to Cybersource expands PayRetailers’ reach in Brazil and open banking.
With operations in more than 20 countries, PayRetailers
Systems East Inc. integrated its Xpress-pay platform said it aims to enhance services by offering secure,
with Cybersource, a Visa Acceptance Platform, to innovative payment solutions across Latin America and
enhance security and accelerate deployment through Africa through a single API.
Cybersource’s Token Management Service. Systems East
stated Xpress-pay said it serves thousands of businesses
and government clients in over 80 industries and pro- APPOINTMENTS
cesses billions annually.
AppTech Payments CEO and CFO change
The update, rolled out in July 2024, provides secure pay-
ment solutions for businesses and consumers., the com- AppTech Payments Corp. made changes to its leader-
pany added Founded in 1981, Systems East said it has ship team. Luke D’Angelo resigned as CEO and execu-
pioneered payment innovations, saving tax dollars and tive director but will remain chairman of the board.
improving services, and Xpress-pay, launched in 2005, D’Angelo expressed pride in the company’s achieve-
has generated over $100 million in additional revenue ments and commitment to supporting its future growth.
for clients. Thomas DeRosa was appointed interim CEO, bring-
ing over 40 years of experience in technology leader-
ACQUISITIONS ship, business transformations, and strategic execution.
Previously AppTech’s Executive Director of Product &
Project Management, DeRosa played a key role in acqui-
Lenders Cooperative, Ventures Lending to merge sitions and restructuring efforts.
Lenders Cooperative and Ventures Lending Technologies Additionally, Felipe A. Corrado IV was named Chief
plan to merge to create a leading provider of commercial Financial Officer and Treasurer, succeeding Julia Yu.
loan origination and servicing solutions for financial Corrado, who has served AppTech for three years, offers
institutions. Combining Lenders Cooperative’s origina- over 20 years of experience as a CFO, CPA, auditor, and
tion expertise with Ventures’ servicing capabilities, the consultant. These appointments position AppTech for
new entity will support banks, credit unions, and fin- continued operational growth and financial strength
techs offering government-backed loans, the companies under experienced leadership. Further details are avail-
stated, adding that the merger expands R&D invest- able in the company’s SEC filing.
ments into AI workflows, integrated payments and POS
lending tools. The merged entities said they will serve John Turner joins Papaya Global board
500 institutions, modernizing lending processes and
reducing costs for greater efficiency and scalability. Papaya Global, a workforce payroll and payments plat-
form, reported that John Turner was appointed to its
Payfare agrees to be acquired by Fiserv board. Turner brings extensive expertise in sales transfor-
mation, marketing and strategy from roles at Google and
Payfare Inc. will be acquired by an affiliate of Fiserv Inc. TriNet. Papaya CEO Eynat Guez highlighted Turner's
in a CA$201.5 million all-cash deal, representing a 90 operational insights as key to supporting Papaya’s stra-
percent premium to its Dec. 20, 2024, closing price. The tegic pivot from payroll to workforce payments. Turner
acquisition, pending shareholder and court approvals, praised Papaya’s innovative solutions and commitment
is expected to close in the first half of 2025. Payfare’s to global workforce management. Recognized by Time
board unanimously supports the deal, citing certainty of 100, Forbes Cloud 100, and Fast Company, Papaya said it
value and strategic alignment. The merger, Fiserv stated, continues to disrupt the payroll and payments industry.
enhances its embedded finance solutions and strength-
ens its position in workforce payments. Post-acquisition, WSPN appoints Jeff Wong
Payfare shares will be delisted, and the company will
cease reporting under Canadian securities laws. Jeff Wong is now an independent director of Worldwide
Stablecoin Payment Network. He brings expertise from
PayRetailer acquires Transfeera 25 years working in technology innovation and enter-
prise transformation, including serving as EY's global
PayRetailers, a payment processor in Latin America and chief innovation officer from 2015 to 2024.
Africa, acquired Transfeera, a Brazilian fintech special-
izing in payment solutions, following approval from He previously held leadership roles at eBay and
CADE and the Central Bank of Brazil. The acquisition JPMorgan Partners and has served on prominent coun-
strengthens PayRetailers' regulatory and risk manage- cils, including the Forbes Technology Council and the
ment structure and provides direct access to Brazil’s World Economic Forum's Global Future Council. WSPN
Pix payment system, PayRetailers stated. It added that CEO Raymond Yuan highlighted Wong’s experience as
Transfeera, founded in 2017, brings over 500 clients and a key asset for driving global growth and innovation.

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