The Green Sheet Online Edition
July 7, 2024 • 24:07:01
Industry Update
ANNOUNCEMENTS
Adyen named a leader in IDC MarketScapes
Global fintech platform Adyen was named a Leader in the IDC MarketScape assessments for worldwide retail online payment platform software providers and omnichannel payment platform software providers for 2024. Adyen was recognized for its comprehensive solutions, innovation, and merchant focus, IDC noted, adding that the platform simplifies payment processes, supports numerous payment types in over 100 countries, and integrates seamlessly with strong technology partnerships. Adyen's innovations, IDC further noted, include advanced AI/ML for fraud detection, new payment types, and the company's merchant-centric approach emphasizes its commitment to evolving customer needs.
Digital Future launches to advance the digital economy
Digital Future, a new public policy and advocacy think tank, emerged to promote the development of the next generation of financial services. Led by CEO Michelle Bond, the organization focuses on advancing fintech, digital assets and AI through collaboration with lawmakers and the public. Digital Future aims to create a regulatory environment that fosters innovation, transparency, and efficiency in financial markets, the company said. With over 20 years of experience in financial policy, Bond said she seeks to balance consumer protection and industry growth, advocating for impactful legislation in crypto and AI.
Inspiro wins 2024 Fortress Cybersecurity Award
Inspiro, a global leader in customer experience outsourcing, won the 2024 Fortress Cybersecurity Award for data protection. The award recognizes Inspiro's commitment to cybersecurity excellence and innovation. With over 20 years of experience, Inspiro said it provides advanced CX solutions across various industries. Its comprehensive information security and data privacy initiatives involve strategic planning, incident response and awareness programs. Chief Information Officer Ricelle Matti highlighted the company's use of cloud technology and AI to enhance protection and threat response. President and CEO Yuji Hamamoto credited the award to the collaborative efforts of employees, clients and partners.
NAB a TSG Best of Breed honoreehird consecutive year
North American Bancard LLC was honored in TSG's 2024 API Best of Breed Report, receiving first place for API Set: Developer Tools due to the quality and depth of the company's development infrastructure and tools. Upon learning of the award, Bryan Long, NAB's director of product management, praised the collaborative efforts of the company's development and engineering teams. NAB's APIs offer extensive functionality and flexibility, supported by a variety of hardware options and common SDKs, TSG noted. NAB was also runner-up for Developer Roadmap: Flexibility. This marks the third consecutive year NAB has been recognized since launching its Payments Hub Developer Portal in 2021.
RESEARCH
Men, the primary gift charge purchasers in U.S.
Recent Blackhawk Network research revealed evolving gift card preferences in the United States, in particular, the rise of men as the primary gift card buyers and the increasing popularity of everyday gifting. Also, men favor gift cards for electronics and video games, while women prefer personal care and beauty cards. Planned gift card purchases are up, as well, with both in-store and digital channels popular. The study also found a shift toward sustainable gift cards, with more consumers buying paper and digital options. These trends offer valuable insights for retailers to optimize their gift card programs, researchers noted.
#h2P2P transfers via Zelle tops for customer satisfaction J.D. Power research indicates that Zelle outperforms other P2P transfer services in overall customer satisfaction, with seven of the top eight performing brands in the study being part of the Zelle network, including Bank of America, Capital One, Chase, PNC, Truist, U.S. Bank, and Wells Fargo. Despite this, market leaders PayPal, Cash App, and Venmo perform at or below average. Users show strong loyalty, with only 8 percent considering switching services, primarily due to friends/family preferences, security concerns, and poor customer service. Zelle's challenge is to leverage its high satisfaction scores to expand its market share.
LockBit 3.0 resurfaces, ransomware attacks spike
Global ransomware attacks surged by 32 percent month-over-month and 8 percent year-over-year in May 2024, reaching 470 attacks, according to NCC Group's Threat Pulse. LockBit 3.0 reemerged as the top threat actor, responsible for 37 percent of attacks, a 665 percent increase from April.
Play and RansomHub followed with 32 and 22 attacks, respectively. Newcomers Arcus Media, Underground and DAn0N entered the top 10. Notably, attacks on South America and Africa increased significantly, by 60 percent and 167 percent, respectively. The industrials sector remained the most targeted, followed by the technology sector, while consumer cyclicals saw a slight decrease in attacks.
PARTNERSHIPS
AtData, Dodgeball team up on digital fraud prevention
AtData, a provider of email address intelligence, partnered with Dodgeball, a unified identity platform, to strengthen defenses against data breaches, identity theft and fraud. AtData's email intelligence will integrate into Dodgeball's platform, enhancing fraud prevention such as MFA, ID checks and user blocks, AtData stated. The aim is to provide Dodgeball clients with improved security and fraud detection through advanced machine learning and a global email network, ensuring a safer digital experience. Thus, the partners stated, businesses will be able to operate more securely and confidently against sophisticated fraud threats.
FEVO picks SHIFT4 as preferred payment processor
FEVO, an ecommerce company enabling group shopping on websites, selected Shift4 as its preferred payment processor for music festivals and general admission events. This partnership will enhance FEVO's services with seamless online, mobile, QR-code and on-site payment solutions, FEVO stated. FEVO COO Betty Tran emphasized the importance of reliable infrastructure partners like Shift4 for processing payments. Shift4's Anthony Perez highlighted the partnership's role in streamlining transactions for venues and live entertainment providers. FEVO supports over 800 brands in live entertainment across the United States and Canada.
OneMoneyWay, Shift4 partner on unified financial services
Shift4, a global provider of integrated payments and commerce technology, partnered with OneMoneyWay, a Nordic and UK payment platform, to provide a consolidated banking and payments solution for SMEs across Europe and the UK. OneMoneyWay will leverage Shift4's acquiring services and payments infrastructure, enabling it to act as a Payment Service Provider, the partners stated.
This collaboration, they added, aims to offer SMEs streamlined, cost-effective financial services, including bank accounts, corporate expense cards, POS terminals and currency exchange. It also is expected to enhance OneMoneyWay's SME offerings and expand Shift4's European market presence.
STRIDER, PayPal to expand equestrian digital payments
STRIDER, a North American equestrian booking platform, partnered with PayPal to enhance payment processing for United States Pony Club events, which benefit clubs nationwide through its Give Back initiative. This collaboration introduces the StriderPay system, launched in 2023 and designed to provide secure, convenient digital payments and reduce processing fees. Clubs can process payments via credit/debit cards, Venmo and PayPal, earning up to 2 percent back on entry fees, the partners noted, adding that this innovation broadens access to Pony Club events and boosts revenue.
ACQUISITIONS
Ageras positioned for acquisitions
Danish fintech Ageras, a provider of accounting, banking and business software solutions for over 300,000 European small businesses, is poised for pan-European consolidation in the fintech sector. Ageras plans to complete one to two major acquisitions before a potential IPO in 2026, with advanced talks already underway. CEO Rico Andersen aims for execution as early as this year, leveraging Ageras' recent 53 percent revenue growth. Ageras recently raised €82 million for acquisitions, supported by Investcorp and Lazard, positioning itself as a resilient platform for consolidating fintech and business software companies across Europe.
Shift4 gains stake in Vectroncompletes Revel acquisition
Shift4, a provider of integrated payments and commerce technology, acquired a majority stake in Vectron Systems AG, a top European POS systems supplier in the restaurant and hospitality sectors. Vectron, based in Germany, has about 65,000 POS locations across Europe, representing a €25 billion volume opportunity. Shift4 plans to acquire more of Vectron through a public tender offer and integrate the company's services. This acquisition is expected to enhance Shift4's European presence and enable the addition of integrated payment services to Vectron's customers. Shift4 also completed its acquisition of Revel Systems, expanding its reach further.
APPOINTMENTS
Rehman Baig signs on with FlexFactor
FlexFactor Inc. appointed Rehman Baig as chief payments officer. Rehman brings extensive experience from leading roles in fintech firms like Adyen, where he was vice president, global head of product and payment partnerships, driving innovation and strategic partnerships. He also held key positions at Square and PayPal. At FlexFactor, Rehman will lead payments, risk and finance efforts, leveraging his expertise to advance the company's mission to eliminate ecommerce conversion gaps. FlexFactor's leadership praised Baig's alignment with the company's vision and his success in driving strategic initiatives and business growth.
Momnt makes key executive appointments
Momnt, a provider of real-time lending and payment solutions, appointed Chris Bracken as CEO, following investments from Saluda Grade Ventures, Rockefeller Asset Management, and TruStage Ventures. Bracken, formerly the company's chief revenue officer, will drive growth in the moment-of-need lending industry alongside co-founders Brian Lanehart and Lena McDearmid. Momnt co-founder and former CEO Barclay Keith will serve as special adviser to the Board.
Payzli restructures leadership to accelerate growth
Payzli, a next-generation payments fintech, made strategic leadership changes to boost revenue growth and enhance its position in the fintech sector. Arash Izadpanah transitioned from CEO to chief risk officer, focusing on risk management and compliance. Naim Hamdar, previously president, became chief revenue officer to drive sales and strategic partnerships. Kapil Pershad continued as chief technology and product officer, leading innovation. The company is also seeking a new CEO to bring fresh perspectives and drive success. This restructuring aims to leverage each leader's expertise.
Jon Kaplan joins MoneyLion
MoneyLion named Jon Kaplan as its first chief revenue officer. With a strong record of success at Pinterest and Google, he brings extensive experience in driving growth and innovation, most recently as CRO at Madhive. At Pinterest, Kaplan increased revenue from $100 million to over $2.5 billion, and at Google, he managed significant revenue-generating advertising products, MoneyLion noted.
He will lead MoneyLion's go-to-market strategy, leveraging data assets to expand market share and create new revenue opportunities. In addition, his expertise is expected to enhance MoneyLion's digital financial ecosystem and empower users to make confident financial decisions. 
Whether you want to upgrade your POS offerings, find a payment gateway partner, bone up on fintech regs or PCI requirements, find an upcoming trade show, read about faster payments, or discover the latest innovations in merchant acquiring, The Green Sheet is the resource for you. Since 1983, we've helped empower and connect payments professionals, starting with the merchant level salespeople who bring tailored payment acceptance and digital commerce tools, along with a host of other business services to merchants across the globe. The Green Sheet Inc. is also a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals.
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