ANNOUNCEMENTSBinkey, a certified payment service for FSA/HSA payment processing dedicated to online businesses, revealed it was selected for the Mastercard Start Path Program, a program created to enable technology companies to scale and grow through access to Mastercard's technology expertise and innovative solutions.
Obiaku Ohiaeri, founder and CEO of Binkey, said, “As the commerce landscape and healthcare industry continue to rapidly evolve, we’re thrilled to collaborate with industry leaders as we define the future of healthcare consumer payments. Binkey added it empowers consumers to easily identify and pay for eligible products online using its one-of-a-kind health wallet (like PayPal for your health).
After 20 years in the customer billing services business, eLabs rebranded to Vizibill. The name change reflects eLabs' evolution into an even more accurate, transparent, and agile customer subscription and recurring billing solutions provider, the company stated, adding that Vizibill is now proud to offer a more modern billing experience for both its clients and their customers, with more robust functionality, security, flexibility, and enhanced account insights and reporting capabilities—all backed by a second-to-none customer support team.
Payments and data company First American by Deluxe earned the Association of TeleServices International Call Center Award of Distinction. This year marks the 11th consecutive year of recognition and the third time being recognized with top score honors.
"This recognition reflects the dedication, expertise, and care of our talented customer support teams,” said Barry McCarthy, president and CEO of Deluxe. First American by Deluxe was acknowledged for its concierge customer service capabilities, including always-on general and technical support by multilingual team members, who field an average of 15,000 calls per month and resolve 94 percent of issues with a single phone call, the company noted.
NCR Corp., an enterprise technology provider, unveiled the names for the two companies that will form after its planned separation, expected in the fourth quarter of 2023. NCR stated that selecting company names is a key milestone in its previously announced plan to separate into two independent, publicly traded companies.
“The digital commerce business will be called NCR Voyix, which is a nod to the ever-present vision, innovation and partnership that NCR offers its customers as we work with them in their voyage to succeed,” said NCR CEO Michael D. Hayford. “The new name for the ATM business, NCR Atleos, reflects the strength of the NCR brand and our success in helping banks and retailers create best-in-class solutions, within and beyond the branch or across their map of expansive networks.”
ThetaRay, a provider of AI-powered transaction monitoring technology, stated it joined the Microsoft Cloud Solution Provider program, and its SONAR solution is now available at the Microsoft Azure Marketplace. To date, ThetaRay noted, more than 50 banks and fintechs around the world implement ThetaRay’s solution, hosted on Microsoft Azure.
Among those that have adopted the technology are leading banks including Santander, Mashreq Bank, Travelex Bank and ClearBank, as well as many fintechs around the world, ThetaRay stated, adding that its technology has over 1 billion end users and monitors over 15 billion transactions per year.
RESEARCHData from J.D. Power shows Apple’s service is used by more consumers than competitors, and that while it isn’t as popular as PayPal or Klarna, about a fifth of BNPL customers said they used Apple Pay Later in its first three months. In addition, researchers found that Apple Pay Later customers have been more financially healthy than other BNPL customers, indicating the service potentially has a more stable, sustainable user base than competitors do.
Beyond that, data suggests Apple Pay Later may be attracting first time BNPL users that might not otherwise consider using BNPL. Researchers also stated the company has a global network and an array of resources that can help it enter new markets with ease.
UK fraud attack volumes nearly doubled in 2022 as the scam-demic continues, according to the latest online fraud analysis published by LexisNexis Risk Solutions. Around 36 million human-initiated fraud attacks were confirmed in the UK last year, a rise of 92 percent from the previous year, researchers stated. Globally the rate of growth was slower, at 56 percent.
The data also shows 352 million automated bot attacks on UK targets last year, an increase of 81 percent on the previous year.
This means around 2 percent of all online transactions in the UK was a bot attack. These figures are the result of analyzing more than the 15.8 billion UK transactions processed by the LexisNexis® Digital Identity Network.The figures represent good news for the UK financial services sector, showing that, despite rising fraud volumes, the UK attack rate is 0.2 percent, compared to a global rate of 1.3 percent, they added.
PayQuickr released findings from research on the evolution and growth of the gig economy workforce. The research, conducted by gig economy experts Dr. Robert A. Peterson and John Fleming, encompasses a sample of more than 2,000 U.S. gig workers. The study highlights growing interest in working multiple gigs, the motivations behind gig work and how this on-demand economy is shaping on-demand payment preferences.
Diversity in types of gig work is growing, researchers found, with the most popular gig reported being restaurant, grocery and delivery services (13 percent), compared to ride-sharing (8 percent), child-care or elder-care services (7 percent) and freelance graphic design, photography and copyediting (4 percent).
The study also found 60 percent of the gig workforce works multiple gigs, with 23 percent working more than three gigs.
PARTNERSHIPSDataVisor, a real-time fraud and risk management platform that harnesses sophisticated AI and machine learning, partnered with Q6 Cyber, a cyber and fraud threat intelligence firm, to centralize relevant threat intelligence data in a single platform to increase fraud detection accuracy. Q6 Cyber’s proprietary threat intelligence enriches
DataVisor’s existing fraud signals, providing financial institutions with a holistic analysis of all relevant transaction data and fraud signals in one centralized platform, immensely simplifying fraud and risk decisioning, the partners stated, noting that Q6's round-the-clock coverage extends beyond the Dark Web and Deep Web to include peer-to-peer messaging apps and other cybercrime infrastructure, which enables preemption of a range of financial crimes and fraud.
Cross-border payment provider Finaro and Acquired.com, a UK payments specialist and payment initiation service provider, reported they partnered to enable Acquired.com (a member of the Quint Group) to offer its customers Finaro’s tailor-made brilliantly simple acquiring services. Through this collaboration, Acquired.com customers will gain access to Finaro’s simple onboarding, approval rate optimization and in-depth data analysis, as well as proactive merchant account monitoring with round the clock customer support, the partners stated.
Finaro’s fully redundant payment processing technology servers will ensure that Acquired.com’s customers can enjoy "uptime all the time" as well as benefit from a smart routing solution that automatically reroutes merchant traffic in real-time to a new server if an issue occurs, they added.
Commerce enablement technology company NMI launched a product collaboration with Authvia, a platform providing payment experiences via text, to provide TXT2PAY capability to NMI partners and the merchants they work with. Through TXT2PAY, merchants can securely request and receive a payment via text, which can be up to 10 times faster than other payment methods, NMI stated, adding that merchants simply need to enable the service in NMI’s Marketplace, and they can begin sending invoices and receiving payment immediately.
Additionally, the company noted, end-users will have a simple, convenient way to pay a bill or invoice with their mobile phones while allowing an additional means to accept payments for merchants.
Iliad Solutions heralded the general release of its T3 test and certification platform for New Payments Architecture. The solution is used in pre-certification mode to underpin the Pay.UK Self Validation Testing. The general release is further enhanced to integrate and simulate the back-end systems that financial institutions use to interoperate with NPA. This results in a fully automated end-to-end-solution.
Iliad’s testing option forms part of an ongoing partnership between Pay.UK and Iliad Solutions with both parties previously collaborating on Faster Payments, and Confirmation of Payee (CoP), the name checking service for UK-based real-time payments. NPA will be the biggest upgrade UK payment systems have seen in a generation. As such Pay.UK’s testing strategy has been meticulously designed to support the programme ensuring that the NPA framework can be validated across the entire ecosystem, the partners stated.
Collaborative accounts receivable specialist Versapay added Innovia Consulting as a Versapay Premier Partner. As part of VersaPay's VersaPartner program, Innovia will gain access to top-tier market solutions for clients, assistance in the selling process, and technical resources to help clients get the most out of their payments solution, VersaPay stated, adding that Innovia is an award-winning Microsoft Dynamics 365 Business Central partner devoted to adding value to their client's businesses and delivering exceptional customer service. Innovia, VersaPay noted, functions exclusively on Business Central, providing its client teams with unparalleled product expertise and support.
ACQUISITIONTMT Analysis, a mobile number and device intelligence company, acquired UK based Phronesis Technologies Ltd. The deal, TMT stated, enables it to expand its range of products and services in the growing mobile and device identity market.
In today’s digital world, the importance of having stringent authentication and verification checks in place is becoming increasingly important across multiple industries and geographies, TMT stated, adding that its acquisition of Phronesis marks a significant step in the company's journey toward cementing its position as a go-to mobile identity company, capitalizing on the rapidly growing market, helping businesses around the world to protect their reputations by adhering to ever-evolving regulatory requirements, and cementing trust among their customers.
APPOINTMENTSBKN301 Group, a fintech offering Banking-as-a-Service solutions in high-growth markets, appointed Mahesh Paolini-Subramanya as its new chief technology officer. As CTO, he will be responsible for the development of the BKN301 platform and solutions, ensuring global process vision and capability.
Paolini-Subramanya joins BKN301 Group after serving as CTO at Klar, a leading digital financial services platform that provides an alternative to traditional banking in Mexico. Before that he was CTO at BlockFi, a platform providing comprehensive banking products such as payments, wealth management, credit and cryptocurrency accounts. He has also held executive roles at such companies as Ubiquiti Networks, Factom and Vocalocity (now Vonage Business).
Former Visa executive Mark Pettit, Weavr.io's new chief product officer, brings 20+ years of industry experience to accelerate Weavr’s growth from a product perspective, while expanding into international markets and building upon strategic partnerships, the company stated.
In addition to supporting partnerships with banks and financial institutions, he will spearhead Weavr’s expansion into new sectors, including lending, ERP, HR management, B2B commerce, and travel and logistics. Before joining Weavr, Pettit was executive director for the New Ventures Group at Visa, overseeing venture, strategic partnerships, fintech and product growth opportunities in Europe.
PayCompass hired industry veteran Jon Skelly as vice president of marketing. He will lead marketing and communications strategies as well as PayCompass’s continued growth in independent sales agents, merchant solutions and sales resources.
He brings almost 20 years of executive leadership, including the last 10 years in merchant and financial services. Before joining PayCompass, Skelly gained expertise in growing and leading high-performance marketing teams at Heartland Payment Systems, MidFirst Bank and True Sky Federal Credit Union. 
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.
Prev Next
