ANNOUNCEMENTSBlackhawk Network introduced the Giftcards.com Gift Card, available online now and in-store soon. This card offers access to 350 top brands, including multi-store options, making it an ideal holiday gift, BHN stated, adding that the card has no fees, no expiration and customizable delivery options. According to BHN research, 81 percent of consumers plan to buy gift cards in 2024, up from 70 percent in 2023. With load amounts from $25 to $500, the new card offers flexibility and ease, providing a seamless gifting experience for any occasion, the company noted.
Swipesum, a payment processing and merchant services provider, reported it was ranked #1 in Entrepreneur's 2024 Top Franchise Suppliers for merchant services, surpassing companies like Square, Stripe and First Data. The ranking is based on feedback from over 1,100 franchisors. Michael Seaman, Swipesum's co-founder and CEO, highlighted the company's commitment to providing efficient, cost-effective solutions for franchisors. Judges noted that Swipesum offers custom payment solutions, AI-driven audits to reduce fees, PCI compliance assistance, and ongoing customer support, enabling franchisors to focus on core business operations.
SWBC's Swivel Transactions LLC was named a finalist in two categories for the PayTech Awards USA 2024: Tech of the Future and Top Innovation in Payments – Solutions for Banks & FIs. Recognized for its transaction enablement platform, Swivel supports various payment options like ACH and card transactions while facilitating instant payments with advanced encryption and real-time data posting, award judges noted, adding that Swivel enhances financial management and payment efficiency for more than 2,000 institutions. Swivel CEO Jason O’Brien highlighted Swivel’s role in shaping the future of payments technology.
The Payments Association and We Fight Fraud, supported by Cardaq, released a documentary exploring the impact of new UK Authorised Push Payment legislation, highlighting how criminals may exploit it. Titled The New APP Rules: What They Mean for Consumers, Fraudsters and the UK, the film features insights from stakeholders, experts, a fraud victim and an active criminal. It critiques the Payments Systems Regulator's rules, urging a lower reimbursement threshold and addressing fraud at its source. The documentary calls for stronger consumer protections and collaboration to combat financial crime effectively. To watch the documentary, visit youtu.be/vjC2rNKGM0k.
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The Canadian Payments Forecast, 2024, published by Technology Strategies International Inc. found that in 2023, contactless payments in Canada surged by 17 percent, accounting for 63 percent of all in-store payments, with the total value growing by over $80 billion. Key drivers include widespread use of contactless debit and credit cards, high merchant adoption of contactless terminals, and an increased contactless payment limit to $250 during COVID-19. While cards dominate, mobile and wearable payments have seen strong growth, with in-store mobile transactions rising 42 percent and representing 23 percent of contactless payments.
NCC Group released the second edition of its Global Cyber Policy Radar, which highlights key regulatory changes in cybersecurity for 2024, with a focus on data privacy. The report warns that fragmented global regulations and growing liabilities for senior leaders will require careful navigation by organizations. Governments are also tightening rules on offensive cyber tools, impacting security testing. Data privacy fines have surged, with over $7.3 billion in penalties since 2020, predominantly in Europe. The report offers guidance on navigating these complexities and aligning cybersecurity strategies for the future.
Verra Mobility Corp. conducted a survey of 2,000 Americans who own or lease vehicles, 2019 or newer, that explored attitudes toward connected vehicle services. The survey found that over half of respondents are interested in using their vehicle as a digital wallet for payments; 54 percent would enable this feature if available. Additionally, 59 percent of respondents in the study are familiar with the term "connected vehicle," and 49 percent currently use at least one connected service. The findings suggest growing consumer interest in digital payments and connected vehicle technology.
PARTNERSHIPSLucinity and Sift partnered to unify fraud prevention and anti-money laundering efforts within Lucinity's integrated FinCrime compliance platform. This partnership is designed to help fragmented systems and businesses combat financial crime threats more effectively and efficiently. Sift, an AI-powered fraud detection platform, said it processes over 1 trillion identity signals annually to prevent fraud. This collaboration enhances Lucinity's case management system, enabling real-time fraud screening, automatic payment holds and streamlined reviews of flagged payments, the partners stated. Teams can customize fraud detection parameters and leverage Lucinity's generative AI for efficient investigations.
PNC Financial Services and Plaid formed a data access agreement, enabling PNC customers to securely connect and share financial data with their preferred apps through Plaid, the partners disclosed. Using Akoya as its API provider, PNC ensures customers can control their data access without sharing login credentials, PNC stated, adding that this partnership enhances security, privacy and ease of use for PNC customers. Both PNC and Plaid noted they aim to transition the industry away from credential-based access, supporting a more secure and controlled financial experience for users of third-party apps.
Relay Payments, a fintech company focused on modernizing payments for the trucking industry, integrated with Love's Travel Stops, expanding its fraud-free digital payment network. Relay reported that its fuel payments solution, launched in 2023, is trusted by over 400,000 drivers and 100,000 carriers for secure over-the-road payments, including fuel, scales and lumpers.
With customers like Schneider and Old Dominion, Relay has processed millions of transactions with zero fraud, the company attested, adding that this partnership with Love’s enhances Relay’s nationwide network, offering carriers improved security, efficiency and 24/7 customer support.
Sound Payments and NEXGO partnered to integrate NEXGO's Smart POS N82 with Sound POS to provide merchants with more hardware options. The N82 device, featuring a built-in printer and rechargeable battery, enhances portability and flexibility for merchants, while maintaining security and performance, the partners stated. Andrew Russell, CEO of Sound Payments, emphasized the partnership’s value in expanding options for resellers and merchants. Patricia Love, COO of NEXGO, highlighted the synergy between NEXGO’s hardware and Sound POS software. By the end of 2024, the partners noted, Sound POS will incorporate more smart devices from NEXGO.
Troc Vélo, a second-hand bicycle marketplace in France, partnered with Mangopay to enhance its payment process. This collaboration improves user experience by providing secure, seamless transactions between buyers and sellers, Troc Vélo stated. Mangopay, the partners noted, manages the entire payment flow, ensuring funds are stored until both parties finalize the sale, adding trust and protection. The integration, they added, completed in just three months, supports Troc Vélo’s growth by removing key barriers to second-hand purchases and enhancing transaction security. According to Troc Vélo, this marks a new era for the company, benefiting cycling enthusiasts and promoting sustainable product reuse.
ACQUISITIONSTo enhance its cash rewards app, Benjamin Capital Partners acquired New Thing Co., an Austin-based firm known for its augmented reality rewards tool. This acquisition will integrate New Thing's AR technology into the Benjamin rewards app, allowing users to generate Benjamin Money Moments through everyday activities like purchases, gaming and ads, Benjamin stated. New Thing co-founders, Aubrey Johnson and Jason Bender, will join Benjamin in key leadership roles. The acquisition coincides with a $13 million capital raise, boosting Benjamin’s growth to over 900,000 active users and $4 million in monthly recurring revenue, the company noted.
Globant acquired Blankfactor, a U.S.-based IT consulting firm specializing in payments, banking and capital markets. Blankfactor, founded in 2016, said it has rapidly grown by delivering consulting-led product engineering, data engineering and enterprise AI solutions.
The company added that it serves major financial sector clients, including top payment processors and banks. With over 450 professionals, Blankfactor is focused on bringing expertise in cloud technologies and digital execution.
This acquisition is expected to strengthen Globant's Payments Studio in North America as financial services undergo significant transformation.
i3 Verticals Inc. completed the sale of its merchant services business, including proprietary technology, to Payroc WorldAccess LLC for approximately $438 million. This transaction allows i3 Verticals to focus exclusively on its public sector and healthcare verticals, i3 Verticals stated. Payroc CEO Jim Oberman expressed enthusiasm for the acquisition and for welcoming i3's team.
Additionally, i3 Verticals announced leadership changes: Geoff Smith was appointed as chief financial officer, while former CFO Clay Whitson transitioned to chief strategy officer, focusing on capital allocation, M&A and investor relations.
APPOINTMENTSMangopay appointed Sergi Herrero as its new chief executive officer, succeeding Romain Mazeries. Herrero brings extensive experience as a fintech industry leader, having previously served as global director for payments and commerce partnerships at Meta, where he launched its payment capabilities. He also held senior roles at Square, BNP Paribas, and was co-CEO of VEON. Herrero is recognized for his results-driven leadership and payments expertise. Mazeries, who led Mangopay for six years, remains on the board and will continue contributing to the company's growth. Herrero aims to drive Mangopay’s growth and innovation in the platform economy.
Papaya Global promoted Liran Lotker to senior vice president of operations, recognizing his leadership in advancing the company's technology during his 18 months as the company's vice president of engineering. In his new role, Lotker will drive operational efficiency and scalability. Additionally, Papaya appointed three new executives: David Levanon as vice president revenue operations, bringing expertise from Payoneer and Chargebee; Adam Bambrough as vice president global client services, with leadership experience from Bitly and ForgeRock; and Erez Morabia as vice president engineering, formerly of Rapyd and Avaya. These appointments aim to accelerate Papaya's growth and innovation.
Kuvasz Solutions expanded its operations to the United States and appointed Andreas Suma as managing director for North America. With over 20 years of experience in payments, fraud and digital channels, Suma has held leadership roles at ACI Worldwide and FICO. This strategic expansion aims to address the growing demand for specialized payment services, particularly as North American banks face challenges with ISO 20022 compliance and real-time payment networks. CEO Christian Montesdeoca highlighted Kuvasz’s role in innovating payment solutions, including its Brizmo platform, to meet the evolving needs of financial institutions.
Basware appointed Donna Wilczek to its Board of Directors. Wilczek, a seasoned technology executive, brings over 13 years of experience from Coupa, where she played a pivotal role in its growth, guiding it from startup to a successful IPO and privatization valued at $8 billion. Currently the chief product officer at Oomnitza, she also serves on Optimizely's board. Wilczek’s expertise in business spend management, AP automation and product innovation is expected to help Basware enhance its market strategy and drive continued innovation in financial operations and automation.
To strengthen its leadership team, ClearSale appointed Sarah Zilenovski as chief marketing officer, Rodrigo Sanchez as chief sales officer and Leandro Bartolassi as chief operations officer. Zilenovski, with ClearSale since 2012, will lead global marketing efforts, focusing on growth and international expansion. Sanchez, with over 15 years of industry experience, will shape sales strategies and drive partnerships. Bartolassi, an expert in fraud prevention, will oversee the application fraud unit and launch new solutions. These promotions, ClearSale stated, reflect the company's commitment to innovation and its expanding market presence. 
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