ANNOUNCEMENTSAbrigo launched the Women in Banking Network on International Women's Day, March 8, 2024. The aim is to empower women in banking through a nationwide program offering networking, mentorship, an online forum, internal women's group and more. Laurie Stewart, CEO at Sound Community Bank, highlighted the network's value in fostering diversity and efficiency. Melissa Marsal, CEO of West Town Bank & Trust, emphasized its importance for women's leadership. Abrigo underscored the network's alignment with its mission to support financial institutions and the communities they serve by providing resources that help women bankers build lasting connections that drive long-term success.
BankSocial stated it has introduced payment capabilities with Web3 compatibility to enhance credit union platforms for the digital asset era. CEO John Wingate emphasized BankSocial's unique approach in staying attuned to regulatory shifts and consumer data ownership sentiments. According to BankSocial, credit union partners highlighted the importance of staying prepared for future payment trends and emphasized the significance of embracing innovative solutions like real time payments to enhance service offerings and adapt to evolving developments in payments.
Clear Junction, a provider of cross-border payments, said it joined the UK Cryptoasset Business Council to support crypto ecosystem growth and further UKCBC's aims to engage policymakers, promote collaboration and advocate for clear regulation. With crypto gaining mainstream acceptance, Clear Junction noted, its membership contributes expertise to drive sector advancement and inform consumer protection regulations. Clear Junction's technology enables regulated institutions compliant access to accounts, virtual IBANs and payment networks, empowering clients with faster market entry, access to new markets and innovative payment solutions, the company added.
RESEARCH The J.D. Power 2024 U.S. Buy Now Pay Later Satisfaction Study revealed increasing consumer satisfaction with BNPL services despite concerns about consumer debt. Key drivers of satisfaction for respondents in the study include easy account review, security and reasonable terms. Researchers noted that financially healthy consumers are most satisfied, but there's room for improvement in account management. In addition, they found that BNPL brands are gaining reputation and loyalty, with Plan It by American Express ranking highest in satisfaction, followed by My Chase Plan and Citi Flex Pay. The study, part of J.D. Power's POS payment studies, surveyed 4,135 customers from September to November 2023.
National Retail Solutions' NRSInsights reported February 2024's same-store sales were up 3.5 percent year-over-year and 7.4 percent from January, with notable increases in Arizona, Montana and Wyoming. Candy sales surged while sparkling wine/champagne declined. As expected, Valentine's Day and winter weather events impacted sales, NRS noted. NRS said its three-month moving average same-store sales data outpaced the U.S. Commerce Department's data by 4.3 percent on average. The report reflects transactions from approximately 29,100 active terminals in independent retailers nationwide, showcasing $17.8 billion in sales over the past 12 months, NRS stated.
Emphasizing an urgent need for proactive anti-fraud strategies, SEON launched Fraud Trends 2024, a guide created to address the escalating challenges of fraud that businesses face. Findings of a recent SEON survey revealed widespread acknowledgment of increasing fraud volume, driven by AI technology and economic pressures. AI was identified by respondents as a major challenge, particularly in automated attacks. The survey also revealed that phishing, identity theft and money laundering are expected to rise. SEON emphasized that strategic investment in fraud prevention, including real-time data and AI, is crucial for businesses to combat evolving fraud dynamics.
PARTNERSHIPSBold Commerce launched the Build with Bold Partner Program in collaboration with agency and technology partners like PayPal and Klarna. The program endeavors to enhance checkout experiences for brands by extending technology and expertise, the company stated, adding that composable commerce allows brands to personalize checkout experiences without replatforming. The program is expected to empower brands' transition to composable commerce, including integration of checkout and marketing experiences, headless checkout, and more. The program offers training, support and documentation for partners, Bold Commerce noted.
Galileo Financial Technologies, an independently operated SoFi subsidiary, expanded its partnership with The Bancorp Bank to offer real-time payments via the RTP network. Real-time payments, available 24/7, provide instant fund access. This collaboration is expected to empower fintechs to address cash flow challenges for small businesses and consumers. In the third quarter 2023, Galileo noted, RTP network transactions hit a record 64 million, valued at $34 billion. Galileo pointed out the importance of meeting consumer expectations for instant payments, stating it simplifies real-time payment implementation, enhancing customer satisfaction and cash flow management for businesses.
Stripe partnered with The Hertz Corp. to streamline payments and enhance the rental experience for Hertz, Dollar and Thrifty car rental brands. Hertz highlighted the partners' focus on fast service and reliable rentals. Stripe and Hertz are collaborating on a product road map to meet specific payment needs, including extended authorizations and consolidation of payments onto Stripe across Hertz locations globally. Stripe supports in-person bookings, online reservations with high API reliability, and Apple Pay for U.S. rentals, the partners noted.
Relay Payments, a fintech providing payments for the trucking industry, said it now handles all of Solid Rock Carriers' over-the-road transactions, combating fuel card fraud and streamlining unloading payments. The partners noted that Solid Rock faced significant fraud issues, and Relay provided a solution that saved time and money and eliminated card skimming concerns. They added that the partnership has improved efficiency, offering tailored reporting and real-time visibility. Relay noted that its customer service and digital payment solutions have gained traction in the industry, benefiting fleets nationwide, and Relay continues to modernize trucking payments.
Socure and Trustly stated they formed a pioneering partnership, offering merchants and fintechs a seamless onboarding and pay-by-bank solution. By merging Socure's precise identity verification with Trustly's Pay by Bank, the partners noted, merchants can streamline user onboarding and payment processing. The integration boosts conversion rates by up to five times, they noted, adding that it also reduces onboarding time while ensuring regulatory compliance.
They also mentioned that Trustly's vast merchant network, including AT&T and T-Mobile, benefits from this partnership, which addresses evolving online fraud threats with advanced identity verification and open banking authentication.
TerraPay, a global provider of cross-border payments, formed a strategic partnership with Banco G&T Continental, a financial institution in Guatemala. This marks TerraPay's initial direct collaboration in Central America, which is designed to enhance cross-border remittance solutions for Guatemalans abroad. Banco G&T Continental gains access to TerraPay's platform, facilitating hassle-free, improved cross-border transfers, the partners stated. This partnership also extends Banco G&T Continental's reach, enhancing remittance flow and financial services accessibility, they noted, adding that with cutting-edge technology and trustworthiness, the collaboration aims to revolutionize Guatemala's remittance landscape, prioritizing financial inclusion and economic development.
ACQUISITIONSAmadeus acquired Voxel, a provider of electronic invoice and B2B payment solutions for the travel industry. This enhances Amadeus' vision for smoother travel payments, benefiting both travel sellers and corporate customers, Amadeus stated, adding that Voxel's technology will be integrated into Amadeus' offerings, which will expand payment services and automate invoice management. Amadeus also mentioned the acquisition complements its Outpayce payments business and furthers its aim to streamline the entire travel experience from reservation to expense management. More than 200 Voxel employees joined Amadeus under the agreement, which is expected to not only strengthen the company's position in the travel industry but also promote innovation in travel payments.
APPOINTMENTSLong-time fintech professional Louise Brett joined TerraPay UK as independent director, leveraging her vast experience from Deloitte UK, TerraPay stated. In this new role, she is expected to enhance the company's governance, diversity and compliance in alignment with TerraPay's growth. With significant leadership roles and accolades under her belt, including the Women in FinTech PowerList 2022, Brett is fully prepared to steer TerraPay UK's strategic initiatives, the company believes. Her focus on inclusive leadership and regulatory adherence, TerraPay added, will bolster TerraPay's journey as it expands operations in Italy and across the EU.
Nate Kraft was appointed senior vice president product strategy and management at Digital River, where he will focus on customer-centric product development. Formerly vice president/general manager at Antylia Scientific, as well as a global team leader at Honeywell and Sony, Kraft brings tremendous experience to his new position, the company stated. Reporting to CEO Vic Pacor, Kraft aims to drive strategic growth by deeply understanding market needs. Kraft's visionary leadership is expected to result in valuable contributions to the company's growth, boosting revenue for partner brands and aiding the company's ongoing evolution and success.
SignaPay appointed David Leppek as its chief technology officer, entrusting him with overseeing all IT functions while enhancing proprietary platforms. Leppek brings to the company two decades of industry experience, notably as the founder of Pace Software and president of Transaction Services. In his new role, Leppek is tasked with bolstering SignaPay's position as an industry leader in payment solutions, collaborating to drive growth and innovation. CEO John Martillo cited Leppek's reputation and leadership skills as valuable assets for SignaPay's continued expansion. Leppek's recent relocation to Dallas reflects his commitment to the company's vision and values, SignaPay added.
Christian Woodward joined Socure as chief revenue officer to lead the company's global go-to-market efforts, growth and customer success teams. With expertise in AI, anti-money laundering, and hyper-growth SaaS, Socure noted, Woodward aims to implement Socure's identity verification, sanction screening, and fraud prevention products across commercial and public sectors. Woodward's previous role at Chainalysis saw him scaling sales and driving multi-billion dollar growth, and with a track record of delivering strong results and motivating teams, Woodward is poised to propel Socure's mission to become the world's leading risk and identity verification company amidst evolving fraud challenges, the company stated. 
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