Page 10 - GS250201

IndustryUpdate

ANNOUNCEMENTS quarters complementing offices in China, Hong Kong,
Australia and Singapore, CEO Philip Fayer emphasized
Nuvei's commitment to localized payment solutions.
Alchemy Pay achieves Nuvei reported it now has over 200 payments experts
AUSTRAC approval across Asia-Pacific.
Alchemy Pay, a fiat-crypto payment solutions provider, This move, the company added, positions Nuvei to sup-
successfully registered as a Digital Currency Exchange port Japanese businesses in scaling in-market and cross-
Provider with the Australian Transaction Reports and border, while helping global businesses enter Japan's
Analysis Centre (AUSTRAC), enabling secure fiat-to- booming ecommerce market, expected to grow from
crypto services in Australia. This regulatory milestone $230 billion to over $650 billion by 2032.
strengthens its compliance with anti-money launder-
ing and counter-terrorism financing regulations, builds Papaya Global tackles the Super Bowl again
stakeholder trust and unlocks growth opportunities in
the Australian market, Alchemy Pay stated. Papaya Global aired its second Big Game ad on Feb. 9,
2025, building on the success of last year's campaign,
It is also part of the company's global expansion strate- which tripled the company's website traffic and reached
gy, which includes licenses in Canada, the United States, 114 million viewers. This year's ad humorously depicted
and key Asian and European markets, Alchemy Pay the relentless challenges faced by finance teams through
aims to connect traditional finance with the decentral- a life-size Whac-a-Mole game, showcasing how Papaya's
ized crypto economy, enhancing local payment facilita- platform streamlines global payroll and payments,
tion at competitive rates. Papaya stated. The company noted that its technology
empowers organizations to improve payment accuracy,
BRICS Project Network established reduce administrative complexity and ensure secure

The BRICS Project Network launched to support busi- global payouts in more than 130 currencies. The com-
ness expansion between Western companies and BRICS pany feels the ad, created by McCann Tech and directed
by Bruce St. Clair, highlighted Papaya's bold, innovative
nations, comprising Brazil, Russia, India, China, South
Africa, Egypt, Ethiopia, Indonesia, Iran and the United approach to marketing and technology.
Arab Emirates and representing nearly half of the global
population and over a third of global economic out- RESEARCH
put. Led by Karlheinz Zuerl, CEO of the GTEC Profit
Growth Academy, the new network provides consult- Alkami unveils top 2025 business banking trends
ing, business development, and interim management
across industries. Amid trade tensions, the network Alkami Technology identified five key business banking
facilitates partnerships, market entry, and restructuring. trends for 2025 to help financial institutions enhance effi-
Zuerl emphasized BRICS' vital role in global trade and ciency, reduce risk, and strengthen client relationships.
technology, helping businesses navigate challenges and The trends identified are digital innovation, data analyt-
unlock economic opportunities across regions. ics, fraud prevention, relationship-building and central-
ized cash management. Alkami mentioned that AI and
CFPB fines Equifax for 'improper' investigations automation play a crucial role in modernizing processes,
while predictive analytics enable hyper-personalized
The Consumer Financial Protection Bureau disclosed services. Financial institutions, the company added, are
that it took action against Equifax for failing to prop- prioritizing smarter decision-making, fraud prevention
erly investigate consumer credit disputes. Equifax, the and treasury enhancements to meet evolving business
CFPB noted, ignored consumer evidence, reinserted banking needs.
deleted inaccuracies, sent conflicting letters and used
flawed software that generated inaccurate credit scores. NCR: Shoppers favor self-checkout
The CFPB found these practices violated the Fair Credit for fast service
Reporting Act and ordered Equifax to comply with fed-
eral law. Equifax must pay a $15 million civil penalty to NCR Voyix's 2025 Commerce Experience Report highlights
the CFPB's victims relief fund, the bureau noted, add- changing consumer behaviors in grocery, fuel conve-
ing that the enforcement highlights systemic failures in nience and dining. Researchers found that self-checkout
credit reporting, impacting consumers' financial deci- remains popular, with 77 percent preferring it for speed,
sions and protections. especially among Gen Z (63 percent). Grocery stores are
adopting smart tech to reduce shrinkage, while rising
Nuvei launches in Japan prices are pushing 57 percent of shoppers to seek deals
Nuvei Corp. expanded into Japan by acquiring Paywiser and loyalty programs. In addition, report authors noted,
Japan Ltd. and its acquiring license, enabling direct convenience stores attract customers with food options
acquiring capabilities across major card schemes and (27 percent), loyalty perks (37 percent), and inflation
alternative payment methods. With a new Tokyo head- impacts dining habits, with 55 percent cutting back on

10