ANNOUNCEMENTSAlchemy Pay, a Singapore-based fiat-crypto payment solutions provider, secured four new U.S. Money Transmitter Licenses in Minnesota, Oklahoma, Oregon and Wyoming, increasing its total to eight licenses. These additions enable Alchemy Pay to expand its regulated crypto services in these states, enhancing accessibility for fiat-crypto transactions. Committed to compliance, Alchemy Pay stated it aims to connect traditional finance with the decentralized crypto economy, empowering Web3 projects and users. Alchemy Pay said it continues to pursue licenses worldwide to solidify its role in a secure, scalable crypto ecosystem.
AliExpress, a global ecommerce enterprise under Alibaba, launched AliExpressDirect and invited U.S. retailers to join its platform with 0 percent commission and no onboarding fees during an introductory period. This initiative offers local businesses tools for seamless shop setup, product management, and marketing support, alongside features like one-click store design and transparent tracking, AliExpress said, noting that retailers have reported early success leveraging AliExpress' large customer base and scalable structure. U.S. consumers, AliExpress added, gain access to diverse local products with faster delivery and easy returns, boosting AliExpress' reputation as a fast-growing ecommerce platform.
Blackhawk Network launched Visa eGift and Mastercard eGift products to combine the convenience of digital gifting with in-store purchasing. These cardless eGifts use QR code technology and tap-to-pay functionality, allowing users to load funds directly to their mobile wallets for secure, contactless use online or in-store, BHN stated. Available at over 15,000 retailers, the eGifts feature BHN Protect, a fraud prevention program leveraging 20 years of expertise. Designed for tech-savvy shoppers, eGifts addresses rising demand for digital convenience and security during the holiday season and beyond, BHN added.
Toronto, Canada-based PayBright, a merchant services provider, ranked No. 7 on the Triangle Business Journal's Fast 50 list, which recognizes the fastest-growing private companies in the Great Lakes region. PayBright supports over 15,000 businesses across the United States, Puerto Rico, and the U.S. Virgin Islands with transparent, affordable payment solutions, POS support and customer loyalty programs, judges related. PayBright CEO Dustin Magaziner credited local expertise and a strong regional presence for the company's success. With 30+ employees and 700+ sales agents, PayBright said it continues its growth, earning accolades like Inc. Magazine's Inc. 5000 list recognition.
RESEARCHThe global loyalty management market is projected to grow from $10 billion in 2023 to over $24 billion by 2029, driven by evolving customer expectations, technological advancements and increased competition, ResearchAndMarkets reported. North America leads with mature programs, Europe is experiencing growth in coalition loyalty platforms, and Asia-Pacific is benefitting from rising disposable incomes, researchers found. Businesses are focused on personalization, data analytics and seamless digital-physical integration to enhance customer engagement. Emerging trends include experiential rewards, social media integration and AI-driven personalization. Despite challenges like fraud and ROI measurement, innovation and adaptability continue to fuel this market's expansion across diverse industries.
The payment processing solutions market, valued at $52.1 billion in 2023, is projected to reach $139.7 billion by 2032, growing at a CAGR of 11.6 percent, according to new research by SNS Insider. This rapid growth is driven by the shift to ecommerce, increased use of digital wallets, and demand for seamless payment solutions across platforms like smartphones and wearables, researchers found. Key factors include rising adoption of contactless payments, advancements in AI and blockchain technology, and global regulations like Europe's PSD2 that enhance payment security. COVID-19 accelerated digital payment adoption, fueling innovation in fintech, subscription services and peer-to-peer payment systems, researchers added.
PARTNERSHIPSShift4, a global payments provider, partnered with ConnexPay to enhance payment solutions for online travel agencies and hospitality businesses in the UK and EU. ConnexPay is integrating its payment issuance capabilities with Shift4's advanced processing platform to offer merchants next-day settlement and real-time virtual card issuance. This unified system, the partners stated, simplifies operations by merging customer payments (PayIn) with supplier payouts (PayOut), improving cash flow and reconciliation. The partnership leverages Shift4's expertise and ConnexPay's flexible platform to scale operations, driving growth and efficiency in the travel and hospitality industries across Europe, they added.
Ingenico and Crypto.com partnered to integrate crypto payments into Ingenico's global platform to enable merchants to accept cryptocurrency and settle funds in local currencies like EUR, GBP, and USD without currency risk. Powered by Ingenico's merchant wallet and AXIUM Android terminals, this solution simplifies crypto adoption alongside existing payment systems, the partners stated. Consumers, they added, can earn rewards through Crypto.com Pay, while merchants gain streamlined services for managing payments. A live pilot will launch in the first quarter of 2025 across regions including the United States, UK and Asia with the aim of normalizing crypto in retail and advancing payment innovation.
Cross-border payments provider Nium partnered with HyperGuest, a B2B marketplace for travel and hospitality, to enhance payment efficiency, speed and security. By integrating Nium's virtual card solution, HyperGuest will streamline payment workflows, reduce fraud and enable faster settlements for hotels and travel partners worldwide, the partners stated, adding that Nium's real-time issuance in over 20 currencies improves cash flow and reduces costs for travel distributors and hotels. They also pointed out that their partnership addresses payment inefficiencies in the travel industry, fostering collaboration and enabling businesses to focus on delivering exceptional guest experiences in a digital-first era.
PXP Financial, a provider of global payment and fraud services, partnered with North, a leading payment technology provider, to expand acquiring connections in the United States. This collaboration enhances PXP's offerings by integrating North's innovative solutions for POS, ecommerce and APIs. The partnership supports PXP's U.S. growth strategy and commitment to seamless, secure payment options for clients across industries. With expertise in regulatory compliance and advanced features like fraud prevention, PXP processes over €23 billion (US$24.26 billion) annually through its unified payments platform. North's capabilities complement PXP's mission to drive innovation and growth for their clients.
Foreign exchange brand Travelex upgraded its network of 600 ATMs across eight countries with NCR Atleos' SelfServ range and Vision software. The refresh introduces innovative features like contactless cash withdrawals using NFC-enabled devices, touch screens and barcode readers, which enhance customer convenience, the partners stated. The modernization also streamlines operations and expands secure, reliable access to cash for global travelers. The ATMs support foreign exchange and domestic currency transactions, with select European ATMs offering card-free cash withdrawal. Travelex's unique Click and Collect function in the UK allows pre-ordered foreign currency pickup at airport ATMs, they added.
ACQUISITIONSAccredited Solutions Inc., the parent company of Diamond Creek Water, acquired GlobeTopper, a global B2B digital payments platform specializing in e-gift card distribution. The acquisition, which will bring an estimated $37 million in projected annual revenue, is a cornerstone for Accredited Solutions' telecom-fintech ecosystem strategy, the company stated. GlobeTopper's platform, serving 2,700+ brands across 65 countries, offers robust API infrastructure and global reach, enabling seamless integration of future acquisitions, Accredited Solutions added. CEO Eduardo Brito mentioned the deal as a step toward converging telecom and financial services. GlobeTopper's CEO Craig Span will continue leading operations to accelerate innovation and expansion.
The Access Group, a global provider of business management software, acquired Paytronix, a U.S.-based guest engagement platform for restaurants and convenience stores. This marks one of Access Group's most significant acquisitions, enhancing its U.S. product offerings, the company stated. Paytronix, with its platform deployed across 50,000 sites and 1,800 brands, specializes in online ordering, loyalty programs, mobile apps and payments. The integration is expected to expand Paytronix's reach, leveraging The Access Group's global expertise to enhance guest experiences. Paytronix will retain its name and continue to further its mission to streamline operations and boost customer engagement for its clients.
APPOINTMENTSClio appointed A.J. Axelrod as its vice president of payments and financial services. He brings to the company over 15 years of expertise in payments, SaaS and fintech. In his new role, he will oversee the global expansion of Clio Payments, define long-term financial strategies and drive product innovation. His responsibilities will also include enhancing Clio's financial services capabilities and collaborating with industry experts to advance its fintech roadmap globally. Axelrod's experience includes leadership roles at Radian Capital, Mindbody and HoneyBook, where he excelled in operational excellence and revenue growth, Clio stated.
PayRetailers selected Patrick Lemay as its head of corporate development. With over 16 years of experience in fintech, financial services and payments, Lemay has managed over 25 major M&A transactions worth over $3 billion and led notable acquisitions in Latin America, PayRetailers noted.
His achievements include a $4.8 billion go-private deal with CVC and Blackstone and navigating an NYSE SPAC merger. Lemay now aims to replicate PayRetailers' LATAM success globally, pursuing strategic acquisitions and enhancing payment solutions in new regions to position the company as a global payments leader, the company added.
SpotOn, a provider of software and payments, appointed Lambert Walsh as chief customer officer and Sarah Ekstrom as chief people officer to support its growth and commitment to customer success and talent development. Walsh, formerly with Adobe and McAfee, brings extensive experience in customer success, specializing in building strong, end-to-end customer relationships that drive acquisition, retention and engagement, SpotOn stated. Recognized with Forrester's Voice of the Customer Award, Walsh will lead SpotOn's Customer Success team, optimizing experiences for clients in diverse industries.
Ekstrom, with over 20 years of HR leadership experience at Heineken, Zillow and Amazon, will oversee scalable HR processes and initiatives to enable SpotOn's rapid expansion while preserving its strong company culture. Her expertise in talent development and organizational growth positions SpotOn to continue empowering small businesses, the company stated, adding that Walsh and Ekstrom bring a dynamic combination of leadership that will enhance SpotOn's service and growth trajectory. 
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