ANNOUNCEMENTSDigital wallet Curve launched an enhanced foreign spending scheme, increasing fee-free spending limits to £100,000 ($129,891) and offering 1 percent cashback on international purchases. Aiming to reshape the mobile wallet experience, Curve said it allows customers to pay like a local by eliminating hidden currency conversion fees and offering real-time currency conversion without needing to preload funds. With access to over 140 currencies, Curve’s technology provides seamless, cost-effective, and transparent spending abroad, the company stated.
FINBOA Inc., a provider of intelligent process automation for financial institutions, won the 2024 PayTech Awards USA "Tech of the Future" honor. This award celebrates groundbreaking innovations shaping the future of payments.
FINBOA's Payment Disputes solution, used by over 225 U.S. banks and credit unions, automates and digitizes payment dispute processing, helping institutions meet regulatory requirements like Reg E and Reg Z, the award judges stated. The solution, the company noted, enhances accuracy, enables remote dispute intake, improves communication and automates notifications. FINBOA CEO Raj Singal highlighted the solution's role in transforming dispute management.
Sopra Banking Software rebranded under the name SBS as part of a global initiative. This shift, the company stated, reflects its ongoing collaboration with Axway to form an enterprise software group focused on financial services integration. Founded in 2012, SBS said it serves over 1,500 institutions globally, offering SaaS and cloud-native solutions for scalable digital transformation. CEO Eric Bierry emphasized the company’s dedication to innovation and future growth. SBS noted it will continue operating independently, with headquarters in Paris, and remain a strategic partner with Sopra Steria, supporting long-term success for its clients.
RESEARCHAccording to Blackhawk Network's annual holiday forecast, consumers plan to spend half of their holiday budget on gift cards this year due to more gifting occasions, tighter budgets and fewer shopping days. Younger shoppers, especially Gen Z and millennials, are expected to lead this trend, with plans to buy 25 percent more gift cards than older generations. Additionally, shoppers indicated they will leverage AI and loyalty programs to find deals and increase their spending power. Inflation remains a concern, prompting 45 percent of respondents to change their shopping behavior, focusing on value and rewards.
CONCRYT’s latest white paper, Payments Gateways: Combatting False Declines and Improving Authorisations, is part of the company's mission to help businesses navigate payment gateway complexities to stay competitive in the digital economy. As such, it guides merchants in choosing the right payment gateway to enhance customer experience, reduce chargebacks and improve approval rates. The white paper stresses the critical role payment gateways play in modern business, offering insights on how they impact operational efficiency and global commerce. It also addresses the challenges of failed payments and strategies to mitigate them.
India is projected to surpass $5.4 trillion in consumer spending by 2034, up from $1.8 trillion, growing at 12 percent annually—triple the rate of the U.S. and double the global average. This will position India as the third-largest consumer market, behind the U.S. and China. At EBANX's Payments Summit, leaders discussed emerging markets like India, Latin America, and Africa, highlighting innovations in digital commerce and payments. With systems like UPI and Pix, these regions are driving financial inclusion and economic growth, particularly through Alternative Payment Methods (APMs) and local payment solutions.
The U.S. Faster Payments Council released its 2024 U.S. Instant Payments Adoption Quantitative Study, surveying third-party enablers serving over 90 percent of U.S. financial institutions. The study projects that 70 to 80 percent of institutions will receive instant payments by 2028, with 30 to 40 percent able to send instant credits. Early adoption is driven by use cases like earned wage access and P2P payments, with B2B payments and bill pay expected to drive further growth. Challenges include fraud prevention as expanding rules and standards accelerate adoption. Federal Reserve Financial Services contributed to the study's implementation.
PARTNERSHIPSAlzheimer's Society partnered with PayPoint to simplify and improve cash donation handling. With nearly 30 percent of charity donations still made in cash, the partnership addresses challenges from declining access to traditional banking. PayPoint’s Cash In service, now available at over 29,000 UK retailers, enables Alzheimer's Society staff and volunteers to securely process donations with unique codes for tracking, the partners stated, noting that it streamlines cash deposits, reducing the need for paying-in books and making banking more convenient. The collaboration boosts efficiency, allowing the charity to focus more on its mission to support those affected by dementia, they added.
Bluefin, a provider of PCI-validated encryption and tokenization technologies, partnered with Dover Fueling Solutions, a global provider of technologies for the fuel and convenience retail industries, to bring PCI-validated point-to-point encryption (P2PE) solutions to North American petroleum forecourts. This integration, deployed through DFS' IX Pay platforms, reduces PCI DSS compliance burdens by over 70 percent and scope at the point of sale by over 90 percent, the partners stated, adding that the partnership enhances security for customers.
A Wolters Kluwer survey of 181 finance leaders found that over two-thirds of finance teams are still exploring AI, with only 9 percent scaling AI projects. Major tech firms like Microsoft, Oracle, and Workday are leading the charge, offering AI tools for automating finance tasks researchers found. AI's role is expanding beyond routine work, with 45 percent of CFOs using it for data visualization, researchers noted. CFOs are optimistic about generative AI's potential, expecting it to enhance decision-making and fraud prevention, and despite barriers like budget and skills gaps, AI is set to transform finance operations and reporting efficiency, researchers found. Paysafe the payments platform for GiG's CoreX
Paysafe partnered with Gaming Innovation Group (GiG) to become the endorsed payments platform for GiG’s CoreX player account management solution. This AI-driven platform supports online casino and sports-betting brands across the UK, Europe, North America and Latin America. The partnership integrates Paysafe's local payment methods (LPMs), including Skrill, NETELLER, paysafecard, and Paysafecash, along with access to over 30 third-party LPMs. Both companies said they aim to provide operators with seamless, flexible and secure payment options to enhance operations and drive growth in global regulated iGaming markets.
Red Maple, a provider of payment security solutions, partnered with InterPayments, a Managed Surcharge Provider, to integrate surcharging products into Red Maple’s financial software. This collaboration enhances compliance and operational efficiency for customers using Red Maple’s Microsoft Dynamics 365 solutions. InterPayments’ surcharging tools ensure businesses comply with surcharging laws across regions, supported by indemnification. The integration allows merchants to streamline surcharged transactions, reconcile with banks, and maintain existing workflows. This partnership supports Red Maple's mission to safeguard transactions while offering transparency and efficiency for B2B merchants and corporations.
JS Merchant Solution Inc., dba Smart Merchant Solution, is rebranding as Bluu SMS Inc. and joining the BLUU group, which includes Bluu Inc. and United Merchant Services Inc. This partnership allows Smart Merchant Solution to leverage BLUU’s five decades of experience and expand its product offerings for merchants. Known for its POS and payment processing services in the Dallas area, the company will now access BLUU's broader resources and expertise.
This move strengthens Smart Merchant Solution's capabilities and positions both companies for further growth in the POS and payment solutions industry, the companies stated.
ACQUISITIONSAleph, a provider of digital marketing solutions, acquired a controlling interest in Localpayment, a fast-growing payment service provider in Latin America. This acquisition combines Aleph's expertise in digital advertising with Localpayment's seamless payment capabilities, enabling rapid growth in the region, Aleph stated, adding that, with exclusive partnerships with major digital platforms like Google and Amazon, it will leverage Localpayment's ability to process billions in payments, offering clients integrated digital advertising and payment solutions.
Localpayment, now rebranded as Localpayment by Aleph, supports over 640 local payment methods in 17 countries, further strengthening Aleph's global presence in digital advertising and fintech markets, Aleph noted.
HubSpot revealed plans to acquire Cacheflow, a B2B subscription billing management and CPQ solution. This move enhances HubSpot's Commerce Hub by adding tools for subscription billing and quote-to-cash automation, enabling businesses to close deals and collect revenue faster, HubSpot stated, adding that Cacheflow simplifies SaaS sales with a no-code platform that automates billing and subscription management, making the buying process more efficient.
HubSpot CEO Yamini Rangan emphasized the acquisition's role in advancing the company's commerce vision. Upon completion, Cacheflow will operate as a HubSpot subsidiary with the goal of strengthening its overall customer experience offering.
OptConnect, a leader in managed wireless services, has acquired Capestone, a Netherlands-based provider of 4G and 5G IoT solutions. This acquisition enhances OptConnect's global reach, adding to previous acquisitions of Premier Wireless Solutions and M2M DataGlobal. Capestone operates in over 60 countries, supporting 1,000+ partners with IoT software, services, and connectivity.
The partnership strengthens OptConnect’s presence in Europe, expanding its managed wireless platform to diverse industries. Capestone will continue operations under its name, led by Managing Director Jos Ouwerkerk, and maintain offices in the Netherlands, Germany, and the UK.
APPOINTMENTSLeanne Lange has joined SRM as Managing Director within the Banking and Payments practice, bringing over 25 years of expertise in consumer deposits and payments product management. Previously at M&T Bank, Lange led debit card and ATM products, managed key relationships, and drove innovation in payments. She was pivotal in 17 successful bank acquisitions, showcasing her ability to manage complex transitions.
SRM's Chief Product Officer, Myron Schwarcz, praised her proven track record of driving innovation, highlighting her critical role in supporting SRM’s growth and enhancing client services in the evolving payments landscape.
Fenergo, a provider of AI-powered KYC, AML and Client lifecycle management solutions, appointed financial crime expert Michael Shepard to its Growth Advisory Board. Shepard brings nearly four decades of experience in AML, sanctions, fraud and white-collar crime investigations to the board, having led Deloitte’s Global Financial Crime practice. His role will support Fenergo's U.S. expansion and enhance the company's global AML strategies.
CEO Marc Murphy praised Shepard’s expertise in navigating complex financial crime regulations, while Shepard expressed excitement about joining Fenergo to help clients stay compliant and resilient in an evolving regulatory landscape.
Former YayPay CEO Anthony Venus is now a partner and coach at CEO Coaching International. Venus, an experienced entrepreneur, brings expertise in leadership, strategy, product development and fundraising to his new role. Under his leadership, YayPay grew to $30 million in sales, serving 300 clients in the United States and Europe.
As a former client of CEO Coaching International, Venus applied the Make BIG Happen methodology and is eager to guide other CEOs using the same system. Venus has founded and led several companies and holds a coaching certification from IMD. 
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
