The Green Sheet Online Edition
January 1, 2025 • 25:01:02
Industry Update
ANNOUNCEMENTS
Deadline looms for $5.5B payment card settlement claims
Business owners have until Feb. 4, 2025, to claim their share of the $5.5 billion Visa/Mastercard antitrust settlement. Eligible businesses include those that accepted Visa or Mastercard payments in the United States from Jan. 1, 2004, to Jan. 25, 2019, including closed or transferred businesses. Administrators said filing is quick, taking less than five minutes via the claims portal at PaymentCardSettlement.com. Payments will depend on transaction value and the number of claims. Alexandra "Xan" Bernay, a co-lead counsel for the case, urged business owners to act promptly to receive their portion of the settlement.
Alibaba's Accio AI search engine has 500,000 SME users
Alibaba International’s AI-powered B2B search engine, Accio, surpassed 500,000 SME users directly after its November 2024 launch. Designed for intuitive product sourcing, Accio catalogs millions of suppliers across 7,600 product categories, leveraging natural language processing and 200 million trade-specific parameters, Alibaba stated. The Accio Inspiration feature, the company noted, has boosted supplier conversion rates by 30 percent, with strong performance during peak ecommerce seasons. Supporting multiple languages, Accio is designed to enable efficient sourcing and decision-making through dynamic interfaces and AI tools like Accio Agent.
FPC unveils primer for sending instant payments
The U.S. Faster Payments Council (FPC) released the Operational Considerations for Instant Payments Send-Side Primer, offering financial institutions actionable guidance for enabling instant payment sending capabilities on the FedNow and RTP networks. Sponsored by Endava, the guidance emphasizes key areas like operational readiness, liquidity management, fraud mitigation and staffing. With sending capabilities marking the next frontier for real-time payments, the primer is designed to provide a roadmap for institutions to design scalable, efficient systems. FPC aims to equip members with tools to advance secure, inclusive and reliable faster payment adoption across the industry.
Kuady launches new Affiliate Program
Kuady, a payment processor in Latin America, launched an Affiliate Program, offering partners flexible revenue opportunities through referrals. Affiliates benefit from competitive, recurring commissions, monthly USD payouts and support from dedicated account managers, Kuady stated. The company noted the program provides creative assets, real-time analytics and flexible models like revenue sharing and CPA to align with diverse strategies, and affiliates can earn from referrals, including merchant deposits, while exclusive perks and loyalty incentives enhance engagement. Kuady CEO Lorenzo Pellegrino highlighted the program’s role in expanding the processor's reach in Latin America’s growing digital economy, which empowers affiliates and users alike.
KuCoin launches KuCoin Pay
KuCoin launched KuCoin Pay, a crypto payment solution designed to integrate digital currency transactions into retail, offering contactless, borderless and immediate payment settlements. Reported to be trusted by more than 37 million users globally, KuCoin said KuCoin Pay enables merchants to reduce transaction fees, broaden payment options with extensive cryptocurrency support and reach new audiences. Customers can complete purchases via QR codes or the KuCoin app for a seamless checkout experience, KuCoin added. By facilitating gift card purchases and mobile top-ups, KuCoin Pay promotes mainstream crypto adoption, marking a significant milestone in enhancing the blockchain ecosystem, the company added.
Leadpoint recognized for blockchain technology
Leadpoint System was honored with the CES 2025 Innovation Award in Fintech for its blockchain platform, Funet v2.0. This mainnet technology features a randomized, non-competitive consensus algorithm, devised to ensure energy efficiency, fairness and decentralization. Capable of 15,000 TPS and supporting security token offerings, central bank digital currencies and NFTs, Funet integrates advanced decentralized identity for enhanced privacy. Deployed across public projects in South Korea, Funet noted that it manages more than 1.5 billion records annually and has earned patents, certifications and global recognition as a transformative blockchain innovation.
MorganFranklin cybersecurity practice goes solo
MorganFranklin Cyber completed a private equity-backed management buyout from MorganFranklin Consulting, becoming a standalone professional services firm. Led by founding partners Pete Schile, Keith Hollender and Jonah Dimeo, the firm feels it is positioned for accelerated growth and innovation. Headquartered in Charlotte, N.C., with a global presence, MorganFranklin Cyber offers expertise in cyber fusion center, incident response, identity and access management, and more. Backed by M|C Partners’ strategic resources, the firm aims to expand offerings and capture a growing share of the $194 billion global cybersecurity market.
RESEARCH
J.D. Power issues 2025 report on merchant services satisfaction
J.D. Power researchers found that small business owners are less optimistic than a year ago and increasingly add surcharges for payment processing costs. According to the firm's 2025 U.S. Merchant Services Satisfaction Study, 34 percent of merchants apply credit card surcharges, but satisfaction with processing costs is 24 points lower among those that do. Despite expanded acceptance of digital wallets, BNPL and cryptocurrency, payment fraud and lack of provider guidance strain satisfaction. Shopify leads in satisfaction, followed by Chase and PayPal. The study highlights rising demand for better security and support from providers.
Retiree spending fueled $1.5T in economic output
Retiree spending powered by U.S. public and private sector pensions contributed $1.5 trillion to the economy in 2022, supporting 7.1 million jobs, according to the National Institute on Retirement Security’s Pensionomics 2025 report. Pension payments, totaling $680.6 billion to 26.3 million retirees, bolstered key sectors like food services, healthcare and retail, while generating $224.3 billion in federal, state and local tax revenue. Each pension dollar supported $2.28 in economic output. The report, researchers noted, underscores pensions’ role in financial security, economic stability and tax revenue, benefiting communities nationwide.
Paymentology, audax, MC report on cards-as-a-service
Paymentology, in partnership with audax and Mastercard, released a report titled Understanding Cards-as-a-Service (CaaS) and the Power of Strategic Partnerships. The report highlights how CaaS empowers banks and fintechs to streamline card issuance, enhance efficiency and drive growth by meeting digital-first customer demands. Leveraging Paymentology’s scalable processing, audax’s banking solutions, and Mastercard’s global network, CaaS accelerates time-to-market, reduces operational costs and unlocks new revenue streams, researchers found.
Case studies showcase its success in boosting customer experience and future-proofing payment capabilities, positioning financial institutions as leaders in the evolving payments landscape, they added.
Technavio predicts gift card market to grow by $1.1B by 2028
The global gift card market is projected to grow by $1.1 billion in the next three years, at a CAGR of 14.46 percent, driven by ecommerce expansion and the rise of open-loop gift cards. Open-loop gift cards offer flexibility and convenience, appealing to millennials and Gen Zers for cashless transactions, Technavio researchers found. Key players in the market include Blackhawk Network, Fiserv and InComm Payments. Challenges like unused funds and expiration issues persist.
Digital and mobile gift cards, along with strategic alliances, enhance customer engagement and loyalty, researchers noted, adding that AI-powered innovations are reshaping the market, fueling growth across retail and corporate sectors.
PARTNERSHIPS
Bluefin integrates with Visa Platform Connect
Bluefin integrated its international payment gateway with Visa Platform Connect to deliver PCI-validated point-to-point encryption (P2PE) for Android devices through its NaTALI payment application. This integration enables secure, multi-currency processing across 220 acquirers worldwide. Bluefin stated, adding that in partnership with Visa Acceptance Solutions, Bluefin simplifies payment integrations for retailers while enhancing fraud prevention through Cybersource Decision Manager. The collaboration aims to reduce complexity, boost security, improve customer trust in global payments, and empower retailers to streamline operations and focus on growth with advanced payment security and fraud management.
BlueStar, ProGlove sign distribution agreement
BlueStar Inc., a distributor of technology solutions, partnered with ProGlove, a provider of ergonomic wearable scanners, thereby expanding ProGlove’s reach to industries through BlueStar’s extensive partner network and addressing growing demand for advanced data collection in supply chains, warehouses and distribution centers. ProGlove’s wearable scanners enhance worker productivity, comfort and safety, aligning with its mission of human-centered innovation, the partners stated, adding that BlueStar customers can now access ProGlove’s full product suite, enabling businesses to improve efficiency and create connected, safer workspaces.
PXP, DisputeHelp strengthen fraud prevention
PXP Financial, a provider of global payment solutions, partnered with DisputeHelp to launch Compelling Evidence 3.0 (CE3.0) and Order Insight (OI), a fraud prevention framework created to address first-party fraud and reduce chargebacks. Integrating Visa’s advanced OI & CE3.0 standards, the solution is designed to empower merchants to recover funds, improve dispute management and enhance operational efficiency. By shifting liability to issuers, using validated evidence, merchants can reduce financial losses and false declines. This initiative aligns with Visa’s upcoming compliance framework, VAMP, to help ensure PXP clients remain protected and compliant while safeguarding profitability and customer trust.
Savify, EZsolutions team up to enhance retention, growth
Savify, a loyalty and retention platform that prides itself on supporting more than 500,000 U.S. businesses, partnered with EZsolutions to offer AI-powered tools and innovative business solutions to SMBs nationwide. This collaboration enables Savify clients to access discounted tools for social media management, reputation monitoring and hiring, alongside exclusive savings from national retailers, Savify stated.
The partnership enhances Savify’s mission to empower SMBs with cost-saving, scalable solutions, driving a 14.7 percent reduction in attrition and a 25 percent revenue increase, the company added. Savify CEO Diane Faro highlighted the company's role in helping businesses stay competitive, improve retention and boost revenue.
ACQUISITIONS
Bank Alfalah gains strategic stake in Jingle Pay
Bank Alfalah acquired a 9.9 percent equity stake in Jingle Pay, a fintech company in the MENAP region, marking a strategic move to drive digital transformation and financial inclusion. Jingle Pay’s AI-powered platform reportedly processed over $1 billion in international money transfers in 2024, saving customers $6 million in fees. Supported by major investors like MoneyGram and G42-backed Applied AI, Jingle Pay plans to launch branchless banking services in Pakistan in 2025, the partners noted, adding that their collaboration leverages Bank Alfalah’s infrastructure to enhance cross-border payments and expand financial access for Pakistan’s unbanked population.
APPOINTMENTS
Chad Gaydos CEO, Aman Mann CSO at Procurify
Procurify appointed Chad Gaydos as its new CEO, succeeding co-founder Aman Mann, who transitioned to chief strategy officer. A seasoned SaaS leader with 30 years of experience, Gaydos has driven growth at industry-leading organizations. At Total Expert, he enhanced business operations and expanded customer engagement. At Talkdesk, he built a high-performing team, spearheading growth that raised $230 million in Series D funding. He also led global revenue initiatives at Skillsoft and held leadership roles at SAP. In his new role, Gaydos aims to scale Procurify, deepen customer engagement, and advance its AI-powered procurement solutions.
Jim Hilton signs on with BlueStar
Jim Hilton is now BlueStar's director of networking and connectivity. With over 35 years' experience in the technology channel, Hilton is a seasoned leader known for pioneering advancements in automated distribution systems and supply chain efficiency. He previously served as director of vertical marketing strategy at Zebra Technologies and Motorola Solutions, driving global strategies for manufacturing and logistics. Hilton’s expertise extends to RFID, last-mile delivery and field mobility solutions.
At BlueStar, he will lead initiatives to advance edge computing and 5G connectivity to foster innovation and operational excellence across industries.
Scott Spencer joins Ingenico's leadership team
Ingenico appointed Scott Spencer as regional managing director, NAR, and member of the company's Executive Committee. Spencer brings to his new role more than 20 years of leadership experience in financial technology and data industries. At Corpay, he oversaw payment technology advancements, and at Equifax, he led a strategic shift to cloud and mobile solutions.
Most recently, as president, North America, at Ascendion Corp., he drove regional growth with innovative, customer-focused strategies. Ingenico CEO Laurent Blanchard lauded Spencer’s expertise in business transformation and customer-centric leadership, which has consistently delivered strong revenue and EBITDA growth.
Finastra bids farewell to Simon Paris, welcomes Chris Walters
Finastra appointed Chris Walters as its new CEO, succeeding Simon Paris after nearly a decade of transformative leadership. Walters brings extensive experience in driving innovation and scaling technology companies, previously serving as CEO of Pluralsight and Avantax, where he led significant performance improvements and successful company transitions. He also held leadership roles at McKinsey & Co. and Bloomberg. Expressing enthusiasm for his new role, Walters said he aims to drive sustainable growth and value creation for Finastra’s customers and stakeholders. Walters and Paris will collaborate during the transition for a seamless handover.
Arteria taps Jason Wild
Arteria AI appointed veteran technologist Jason Wild as senior vice president of customers. Wild brings decades of leadership experience, including roles at Microsoft, Salesforce and IBM, where he spearheaded innovation and transformation strategies. Wild co-authored a book with Harvard Business School’s Dr. Linda Hill and has published thought leadership articles in Harvard Business Review and Fortune.
At Arteria, he will oversee pre-sales, global sales enablement and client relationships, particularly with C-level stakeholders, to drive growth and innovation in documentation processes for financial institutions. 
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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