ANNOUNCEMENTSGiesecke+Devrient (G+D) and Netcetera won the Juniper Future Digital Award in the Fraud and Security Innovation category for their joint solution eCOM Tokenizer. Juniper also recognized G+D as an "Established Leader" in the network tokenization market. eCOM Tokenizer converts sensitive card data into encrypted pseudonyms, eliminating the need to store sensitive information and automatically updating payment card credentials, Juniper noted, adding that this solution increases customer satisfaction, sales and payment card approval rates while reducing risks for businesses.
Blockchain specialist Quant launched Overledger Authorise, a solution aimed at enhancing the security of blockchain-based transactions for banks and institutions. Traditional key management systems used by banks aren't suitable for blockchain, leading to risks such as storing blockchain keys on employee laptops, Quant stated. Overledger Authorise integrates with existing enterprise key management systems, streamlining the signing of blockchain transactions securely and relieving banks of these risks, Quant noted, adding that it has been successfully tested in a central bank digital currency experiment.
Squarespace introduced Squarespace Refresh 2023, bringing new products, features and updates designed to empower entrepreneurs and enhance ecommerce capabilities. The highlight, Squarespace stated, is the upcoming launch of Squarespace Payments, a native payment solution offering seamless and secure transactions directly through the platform. Other additions the company mentioned include improvements to Squarespace AI, client invoicing, project tracking, courses, commerce tools, Acuity Scheduling, email marketing, Squarespace Domains, Bio Sites Pro, expanded extensions, and tools for scaling businesses.
RESEARCHA recent study by Creditsafe revealed that many brands and retailers are facing financial challenges, including debt, excess inventory and cash flow issues, ahead of the year-end holiday shopping season. Despite counting on holiday sales to drive up to 40 percent of their annual sales, Creditsafe found, 46 percent of respondents either lack sufficient cash to finance holiday orders or are unsure if they do. Excess inventory from the previous year and financial issues with suppliers pose additional challenges, potentially leading to increased operating costs, lower profit margins, and missed annual revenue targets, researchers found.
MineralTree, a Global Payments company, released its eighth annual State of AP Report, focusing on modernizing back-office finance processes amid macroeconomic factors. Key themes include the pressure on AP teams to increase efficiency, cut costs, and manage cash flow amid recessionary headwinds and remote work. AP automation is seen as a critical solution, with 85 percent of teams participating in the research gaining efficiency and 63 percent experiencing faster payments through automation, MineralTree found. Vendor relationships are growing in importance, with 66 percent of finance leaders queried emphasizing their significance, researchers noted.
The global POS market, valued at $82.7 billion in 2022, is expected to grow significantly, reaching $151.5 billion by 2030 at a compound annual growth rate (CAGR) of 7.9 percent, according to ResearchAndMarkets. The market is poised for expansion in the United States, China, Japan, Canada and Germany. The hardware segment is expected to achieve a 6.9 percent CAGR, reaching $86.6 billion, while the software segment is estimated to grow at a 9.8 percent CAGR over the next eight years. Key players in the market include AURES Group, Diebold Nixdorf, and Hewlett Packard Enterprise, among others, researchers stated.
Global payment card spending increased by 1 percent in 2022, driven by growth in credit and prepaid card volumes, according to a report by RBR Data Services. Credit card spending rose 7 percent as economies recovered from the pandemic, encouraging consumers to make higher-value purchases, while prepaid cards, which support financial inclusion, saw 9 percent growth, researchers found. However, they added, the value of debit card purchases declined by 3 percent due to a significant drop in China, where QR code payments have surged in popularity. The Middle East and Africa saw 20 percent growth in card volume, while Europe and the Americas also saw increases.
PARTNERSHIPSBluefin partnered with Invenco by GVR to offer PCI validated point-to-point encryption (P2PE) solutions for the retail petroleum forecourt in North America. Bluefin stated it will provide its tailored P2PE solution, integrated into Invenco by GVR's FlexPay IV and FlexPay 6 outdoor payment terminals. P2PE can significantly reduce PCI DSS compliance requirements and scope for POS environments, enhancing security and reducing the risk of data breaches for convenience stores and fueling forecourts, the partners noted.
BlueSnap partnered with Retail Realm to provide Microsoft Dynamics 365 users with a global payment orchestration platform. This platform enables businesses to create dynamic global payment experiences for customers while increasing payment ROI, the partners said. BlueSnap's solution includes a network of global banks, payment optimization tools, multiple shopper currencies, various payment types, compliance solutions, reporting, and chargeback and fraud management, BlueSnap stated, adding that Microsoft Dynamics 365 users can optimize local and global payments, improving sales, reducing costs and tailoring value-added services to their market.
Castles Technology, a payment solutions provider, partnered with Worldline for its first international deployment of Android payment terminals and services. According to Castles, the collaboration enhances its position in the EMEA region, as the third-largest global provider, and supports its growth in other regions. Castles added that it has more than 30 years of experience and is known for secure, innovative payment solutions, and the partnership enables Worldline to expand its payment processing capabilities and deploy customized business applications for merchants using Castles' Android POS solutions across 150+ countries.
Deluxe, a payments and data company partnered with fintech Aliaswire to introduce Aliaswire's DirectBiller bill payment technology across the Deluxe network. The collaboration aims to digitize more business payments by enhancing digital processing solutions, allowing businesses to send bills, accept payments and access funds according to their preferences. DirectBiller's integration into the Deluxe platform strengthens its capabilities and widens its outreach, serving a broader range of clients, the partners stated.
Inpartnership with Mastercard, Galileo Financial Technologies, owned by SoFi, launched Galileo Buy Now, Pay Later (BNPL) for lenders to provide to small and midsize business (SMB) clients. This enables banks and fintechs to offer installment financing options to SMBs, addressing their need for more flexible financing solutions, the partners stated. With the Galileo loan management platform, lenders can customize installment payments, oversee repayment, assess interest and fees, and provide optional credit reporting, offering SMBs easier access to capital to meet rising costs and manage cash flow, they added.
With the goal to provide a comprehensive fraud prevention solution for clients in the iGaming space, PayNearMe and American Express subsidiary Accertify partnered to integrate fraud prevention technology into PayNearMe's MoneyLine Platform for iGaming and sports betting operators. The integration allows operators to detect and reduce fraudulent fund withdrawals, enhance player identity verification and automate withdrawal approvals, PayNearMe stated, adding that Accertify's technology improves acceptance rates of debit and credit cards, reduces deposit declines and safeguards against account takeovers and promotional abuse.
ACQUISITIONSCelero Commerce, a U.S. non-bank payment processor, acquired Finical, an electronic payments technology provider based in Dallas. This acquisition expands Celero's processing capabilities, enabling it to handle approximately $25 billion in annual card volume, Celero stated. Finical specializes in delivering tailored payment solutions and support to SMBs. The acquisition of Finical marks Celero's tenth acquisition since its launch in late 2018 and aligns with its goal of providing innovative technology and services to SMBs, Celero added.
NMI, a commerce enablement technology company, reported that it acquired the Sphere Commercial Division, bolstering its underwriting and risk management capabilities. This acquisition, NMI stated, will enable its partners, including independent software vendors and fintech innovators, to create merchant accounts within the existing NMI platform. It allows NMI partners to offer more payment capabilities to their merchants, increasing flexibility in payment solutions, NMI noted, adding that Tom Bannon, COO and president of Sphere Commercial Division, will join NMI as the senior vice president, partner monetization.
APPOINTMENTSFranConnect appointed Austen Asadorian as its chief revenue officer. Asadorian, with over 15 years of experience in the hospitality, restaurant and retail sectors, will oversee FranConnect's global go-to-market and revenue organization, supporting the company's ongoing growth and expansion into new markets. Asadorian most recently, served as senior vice president of sales at SevenRooms, where he was responsible for North American sales, global key accounts and partnerships.
Member Access Processing (MAP), the leading provider of Visa DPS Debit, Credit, ATM, Prepaid, and Mobile Processing for credit unions, has appointed Steve Bone as its new CEO. With 31 years of experience in financial services technology, Bone was previously COO at Trellance, which offers data analytics and business intelligence solutions to credit unions. Bone plans to expand MAP's technology, mobile, and online capabilities while maintaining its strong customer service model for credit and debit card processing. Bone succeeds company founder Cyndie Martini, who, MAP stated, is leaving behind a lasting legacy in the industry.
Dave Charles, chairman of Cash Depot Ltd, was named the 2023-2024 chairman of the Supplier Board for the National Association of Convenience Stores. He was presented with this honor at the 2023 NACS Show in Atlanta, Georgia. In his new role, Charles plans to foster collaboration and partnerships within the convenience store industry, helping suppliers understand opportunities available through NACS partnerships and supporting the NACS Retailer Board and retailers, NACS stated, adding that he will also represent Cash Depot at NACS meetings and events.
Kani Payments appointed payments industry expert Mark Delaney as head of customer success. Delaney's expertise in customer engagement and contract negotiation will support Kani's global expansion, the company stated. Previously, at EML and Flex-e-Card, established a track record of using a customer-centric approach and synergy identification skills to build customer success teams for financial clients. Delaney will focus on helping e-money institutions meet regulatory demands, empowering clients with technology, streamlining processes and exploring growth opportunities. 
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