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IndustryUpdate

Biggest growth driver for US, 28 percent and 24 percent, respectively. EBANX’s Beyond
UK merchants – payment tech Borders report highlights this shift, noting innovations
like Pix Automático, which could generate $30 billion
PXP, a global payment platform, surveyed 250 mer- in recurring payments. Also, despite rising alternatives,
chants in the United States and the UK on digital pay- credit cards remain dominant, especially in streaming
ment transformation. Findings show 64 percent now and gaming, with fintechs enhancing security and acces-
see payment technology as a strategic growth driver. sibility in emerging digital economies.
Security and fraud prevention (36 percent) are top pri-
orities, followed by system reliability (28 percent) and EaaS market worth $5.98B by 2030
scalability (17 percent). Over half use payments to create
new revenue streams, while 49 percent explore emerging The Encryption as a Service (EaaS) market is projected to
methods like BNPL and digital wallets. Needs vary by grow from USD 1.57 billion in 2024 to USD 5.98 billion
sector, with omnichannel businesses prioritizing secu- by 2030, at a 24.9 percent CAGR, driven by increasing
rity and stability. CEO Kamran Hedjri emphasized that concerns over data breaches and regulatory compliance,
payment tech is now a key business strategy, driving according to research by MarketsandMarkets. With
growth and customer engagement. businesses migrating to digital platforms, demand for
encryption is rising, particularly in banking and finance
Velera debuts Card on File for merchants and cloud-based services, researchers stated, adding that
Asia Pacific is expected to see the highest growth, fueled
Velera, formerly PSCU/Co-op Solutions, launched its by government investments and cybersecurity regula-
Card on File solution, stating it enables cardholders to tions. Leading players include AWS, Microsoft, IBM,
update payment methods across more than 115 mer- Cisco and Google, with application-level encryption
chants seamlessly. Available via DX Online, DX Mobile, emerging as a key growth segment.
and APIs, it allows real-time credential updates, reduc-
ing card declines and missed payments, Velera said, PARTNERSHIPS
adding that this eliminates manual updates, a common
frustration when outdated cards lead to lost transactions.
Velera Senior Vice President Cody Banks highlighted the Bluefin, Datecs team up to
solution's role in enhancing user experience and loyalty. enhance payment security
Additionally, the solution boosts credit unions' transac-
tion volume, driving revenue through increased inter- Bluefin, a provider of PCI-validated P2PE and tokeni-
change, interest and member engagement, Velera added. zation, partnered with Datecs Ltd. to integrate its
ShieldConex® Orchestration platform into Datecs’
RESEARCH Android payment devices. This enables encrypted data
transmission to Bluefin’s platform for secure decryption
and formatting before authorization, enhancing security
Hyper-disposable email domains a rising threat and flexibility for merchants, the partners stated, adding
that ShieldConex Orchestration reduces PCI compli-
AtData identified a rising fraud threat: hyper-disposable ance scope while allowing ISOs, ISVs and merchants to
email domains, which now make up 46 percent of all choose their processor and device without vendor lock-
disposable domains. These short-lived emails, active in. The partnership, they noted, ensures seamless, high-
for less than seven days, are mass-produced to evade level security, eliminating barriers to P2PE adoption for
detection, complicating fraud prevention and identity global businesses.
verification. Unlike traditional disposable emails, which
persist for weeks, these domains accelerate digital fraud Grey, Clear Junction to bring
risks, contributing to billions of dollars in losses. To payments to digital nomads
combat this, enhanced adaptive domain models can help
businesses detect and block fraudulent emails while Grey, a Y-Combinator-backed fintech that provides
maintaining customer engagement and protecting rev- secure global banking solutions for emerging markets,
enue from escalating fraud tactics. partnered with Clear Junction Ltd., a payments provider,
to enhance global remittance speed and reliability. Grey
EBANX IDs surging paymnt types offers multi-currency accounts, virtual cards for global
in emerging markets spending, real-time transfers to 80+ countries, and bank
transfers from over 40 countries. Founded in 2020, Grey
Surging demand for fast, seamless transactions is driv- now serves over 1 million users, focusing on remote
ing record adoption of Pix, account-based transfers, workers and the gig economy, the partners stated, add-
and debit cards in emerging markets EBANX found. ing that their collaboration strengthens Grey's mission
Pix, Brazil’s instant payment system, leads with 35 to simplify cross-border payments and expand financial
percent annual growth projected through 2027, while accessibility worldwide.
account-to-account payments and debit cards follow at

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