ANNOUNCEMENTS
CEO Ravi Venkatesan emphasized Cantaloupe's role in pioneering cashless, contactless payments and self-service retail. The awards, he noted, affirm Cantaloupe’s commitment to empowering businesses with cutting-edge technologies that enhance efficiency, customer engagement and the consumer experience.
During International Fraud Awareness Week (Nov. 17 to 23, 2024), SAS, a data and AI software solutions provider, collaborated with the Association of Certified Fraud Examiners and more than 1,000 organizations worldwide to spotlight anti-fraud strategies. The week featured educational initiatives like webinars on generative AI's role in fraud detection, practical tools for fraud prevention, and industry case studies.
Events emphasized the use of real-time analytics and AI to counter escalating fraud threats, with organizations like Techcombank, Nexi Group and Quálitas MX showcasing advanced fraud detection solutions. Fraud Week promoted global discussions on combating fraud through technology, awareness and proactive strategies.
PayerMax, a payment solutions provider, was named Best Payments Solutions Provider of 2024 by MEA Finance magazine at a Dubai ceremony. The award recognizes PayerMax’s innovative technologies, leadership in payment solutions, and commitment to the Middle East and Africa.
In 2024, the company achieved key milestones, including establishing a regional headquarters in Riyadh, securing certifications from Saudi Payments and the UAE, and forming partnerships with banks like SAB and Emirates NBD, the awarding judges noted, adding that with a network supporting 600+ payment methods, PayerMax continues empowering businesses and advancing digital payments globally.
The Georgia Attorney General's Office, in partnership with the Innovative Payments Association, American Transaction Processor’s Coalition and InComm Payments, shared tips to combat holiday scams. Advice included using secure websites, avoiding rushed decisions, and being cautious with gift cards and alternative payment methods.
They emphasized vigilance against fraud targeting older adults and provided resources like the Georgia Consumer Protection Guide. The initiative aims to protect consumers and retailers while strengthening Georgia's "Transaction Alley" payments industry.
RESEARCHSeeking to identify global fraud trends and hotspots, fintech company Concryt analyzed Google Trends data and noted heightened search interest in digital fraud terms like “crypto fraud” and “phishing.” In particular, high-profile breaches and regulations drove a surge in "crypto fraud" searches in 2024. Key regions demonstrated distinct fraud patterns, which points to a need for region-specific solutions.
The UK and Ireland lead Europe in authorized push payment fraud concerns, while the United States tops North American searches, with state-level spikes tied to corporate and gaming fraud. Asia’s top searches reflect digital vulnerability, and data from Ethiopia shows growing fraud exposure in Africa.
Debt.com's annual holiday shopping survey revealed that 66 percent of Americans plan to incur debt this holiday season, driven by credit cards and buy now, pay later (BNPL) services. More than one in four respondents expect to take on $900 or more in debt, with millennials leading in combining credit cards and BNPL.
AI-recommended gifts encourage overspending, with 65 percent of respondents likely to spend more on AI suggestions. BNPL users primarily finance clothing, electronics and jewelry. Meanwhile, despite these tools' convenience, experts have urged consumers to budget carefully to avoid the long-term ripple effects of debt.
The global gift card market, driven by ecommerce growth and AI-powered innovations, is projected to grow by $1.1 billion from 2024 to 2028, at a CAGR of 14.46 percent. Key trends include a shift to open-loop gift cards and rising demand for digital options among millennials and Gen Z. Popular across retail, corporate and digital sectors, gift cards can enhance customer loyalty and streamline gifting. However, challenges like expiration and leftover balances remain. Major players include Blackhawk Network, Fiserv and InComm Payments, with strategic alliances fueling growth in both physical and digital spaces.
A recent GoDaddy survey revealed that 80 percent of Gen Z and millennial respondents research small businesses online before purchasing, emphasizing the importance of a strong digital presence. Key deciding factors include reviews, secure payment options, and updated websites or social media. A lack of online credibility—such a lack of reviews, incomplete websites or outdated content—can deter shoppers. Social media expectations differ by generation, with Gen Z favoring Instagram and TikTok, while millennials prefer Facebook. Entrepreneurs, researchers advised, can enhance credibility and sales by leveraging tools for SEO, branding and content creation to meet these consumer preferences effectively.
The latest Small Business Cash Flow Trend Report from OnDeck and Ocrolus, which surveyed 525 businesses nationwide, found optimism among small businesses, with 92 percent expecting growth in the next six months. Many family-owned businesses (58 percent) aim to pass ownership to the next generation, while 62 percent have adopted alternative payment methods like Zelle and Venmo.
A notable shift sees 73 percent of businesses bypassing traditional banks for non-bank lenders. Business leaders emphasized the importance of accessible capital and cash flow insights in driving small business success, especially amid seasonal and economic challenges.
PARTNERSHIPSBlackhawk Network and Mastercard are advancing environmental sustainability by transitioning open-loop prepaid cards from plastic to paper-based materials. Building on Mastercard’s goal to eliminate first-use PVC plastics by 2028, BHN has already shifted 60 percent of its network cards to paper-based materials and is aiming for 75 percent by year-end 2024.
This initiative, launched across the United States and Canada, reduces plastic waste without disrupting consumer or retailer experience. BHN CEO Talbott Roche highlighted the company’s leadership in sustainable payment solutions and its collaborations to inspire broader industry adoption of eco-friendly practices.
BLAZE Solutions Inc., a provider of cannabis retail technology, integrated with Metrc Retail ID to boost efficiency for dispensaries. The integration supports pre-labeled products with unique QR codes designed to streamline inventory intake and checkout processes. QR codes link customers to brand-managed product pages with descriptions, lab results and images. By eliminating the need for relabeling and simplifying package merging, this integration saves dispensaries significant time and costs, the partners stated.
InComm Payments and DoorDash partnered to offer a digital gift card mall within the DoorDash app. This collaboration, the partners pointed out, simplifies holiday shopping with speed, convenience and exclusive savings for DoorDash users.
Customers can browse and order gift cards for hundreds of merchants, with certain limited-time discounts available, the partners stated. DashMart, DoorDash’s fulfillment platform, will also deliver physical gift cards, providing a convenient solution for last-minute holiday gifting, they added. DashPass members will receive a 10 percent discount on select gift card orders, while non-members will get a 5 percent discount.
Fiserv and ADP partnered to deliver an integrated solution for U.S.-based small businesses, combining Fiserv’s Clover and CashFlow Central with ADP’s RUN Powered by ADP. This collaboration is expected to simplify payroll, cash flow and payments, addressing the demand for a unified business management system.
Set to launch in early 2025, the partnership was formed to empower small business owners to streamline operations, enhance efficiency and focus on growth. Leaders Frank Bisignano (Fiserv) and Maria Black (ADP) emphasized their shared commitment to supporting small businesses and strengthening their impact on local economies.
Priceline and Affirm expanded their partnership, making Affirm the exclusive pay-over-time provider for Priceline Partner Solutions.
Travel brands using Priceline Partner Solutions can now integrate Affirm into their checkout flows, enabling customers to book trips and pay over time. Affirm’s transparent, fee-free payment options, available for purchases of $50 or more, align with growing consumer demand for flexibility, evidenced by Affirm’s 25 percent growth in travel and ticketing, the partners noted. The collaboration enhances Priceline's offerings, driving increased sales, higher order values and improved conversion rates for partner brands, they added.
Treasury Prime stated the collapse of Synapse underscores the critical need for banks to have access to their platform data. To address this, the company introduced Prime Analytics to enhance data insights and regulatory controls. Built on Treasury Prime's data warehouse foundation, Prime Analytics offers out-of-the-box standard reports, including ledger balances, transaction reconciliation, ACH return ratios, and payment activity, the company noted. Partnering with Sigma Computing, it also allows customizable business intelligence tools for tailored insights. Now in private, free beta, Prime Analytics empowers banks and clients to drive growth and compliance.
ACQUISITIONSCelero Commerce acquired Precision Payments, an electronic payments provider for small and midsize businesses, to enhance Celero’s presence in the multi-lane retail sector and expand its North American sales network. Founded in 2009, Precision is known for customized solutions and white-glove customer service, and its founder, Joel King, emphasized the opportunity to offer clients a broader range of innovative products through Celero. Kevin Jones, Celero’s CEO, highlighted the companies' shared focus on high-tech, high-touch solutions, positioning the combined team to drive growth and better support their SMB clients.
Cannabis wholesale platform LeafLin acquired Leaf Trade, a marketplace for multi-state operators and enterprise cannabis companies. According to LeafLink, this acquisition enables it to support businesses of all sizes with enhanced marketplace offerings and tools. Both platforms will continue operating seamlessly during the integration process, LeafLink affirmed, adding that its recent innovations, including fintech tools like Payment on Sell-Through and expanded analytics, complement its suite of marketplace, logistics and banking solutions. Backed by a $125 million Series D funding round, LeafLink aims to streamline operations and drive growth across the regulated cannabis industry.
Nuvei Corp. was acquired by Neon Maple Purchaser Inc., led by Advent International, making Nuvei a wholly owned subsidiary. Nuvei founder and CEO Philip Fayer, who rolled 95 percent of his shares, remains a significant shareholder and will continue to lead as chair and CEO. The acquisition, supported by Novacap and CDPQ, aims to drive Nuvei’s global expansion and operational optimization under its Value Creation Plan. Fayer highlighted the company’s ongoing commitment to providing flexible, modern payment solutions. Nuvei’s shares will be de-listed, marking a new chapter focused on accelerated growth and innovation.
Request Finance, a crypto and fiat financial operations platform, acquired Pay.so Lithuania, a regulated Virtual Asset Service Provider. This acquisition enables Request to offer seamless, compliant one-click crypto-to-fiat and fiat-to-crypto payment solutions for businesses globally, including multi-payee transactions, the company stated.The platform supports a wide range of currencies, ensuring smooth operations across borders while maintaining compliance with top regulatory standards, the company noted, adding that this move strengthens its position as a one-stop finance platform, empowering businesses to streamline payments, accounting and compliance while driving digital currency adoption in a secure and transparent manner.
APPOINTMENTSPayNation appointed Erik Avner as its vice president of national sales, bringing his 16 years of expertise in payment solutions and team leadership to the company. Avner has a proven history of helping companies expand payment capabilities; enhance cash flow; and improve transaction speed, security, and reliability, PayNation stated, adding that he has led teams of up to 150 employees, driving SaaS sales, compensation strategy and scaling initiatives.
In his new role, Avner aims to leverage his experience to build a network of agents entering the B2B payments sector to help businesses adopt cutting-edge digital payment solutions.
Scott Herriman, PayJunction’s new vice president of engineering, brings extensive experience in SaaS payments and engineering leadership to the company, He previously served as director of software engineering at Procore Technologies, where he led divisions through its $10 billion IPO, and held senior roles at FastSpring and Invoca.
Known for fostering collaboration among engineering, product and design teams, he will drive innovation for PayJunction’s No-code Payments Integration platform while establishing scalable engineering practices, the company stated, adding that Herriman aligns with PayJunction’s human-first approach, aiming to enhance its award-winning payment solutions during a period of accelerated growth.
Jason Rushforth, an accomplished sales executive with over 25 years of B2B experience, joined Billtrust as chief revenue officer. Reporting to CEO Sunil Rajasekar, Rushforth will lead global sales and go-to-market strategies, leveraging his expertise in driving growth and building high-performing teams.
Previously senior vice president and general manager at SugarCRM, he also held leadership roles at Infor and Oracle. Excited about Billtrust’s innovative accounts receivable solutions, Rushforth said he aims to collaborate with customers to drive success and transform organizations with AI-powered tools and a unified AR platform.
Payouts Network appointed Garen Staglin, a seasoned leader in financial services, software and venture capital, to its board of directors. Staglin brings extensive C-suite experience, having scaled companies from startups to IPOs and led large-scale turnarounds.
Known for his leadership in business and philanthropy, he also chairs One Mind, a nonprofit advancing brain science and mental health advocacy, the company stated. Staglin will leverage his industry expertise to guide Payouts Network's growth and innovation as the payments platform meets rising demand for instant and digital payments through strategic partnerships. 
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
