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.MAC UPDATES
MAC's Annual Conference, Level Up, is a Success Thanks to Volunteers
MAC is a volunteer-led and volunteer-fueled association. Our success is built on the awesome power of our volunteers.
Volunteers are the heartbeat of MAC committees, drive the strategy, and ensure the execution of all aspects of the MAC programs, services, and benefits, including this week's annual conference, Level Up.
While many people contributed to the annual event’s success this year, a few deserve special recognition for their efforts to lead the event strategy, agenda creation, and partnership outreach.
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Hear from MAC and Wnet industry leaders at the August webinar
Join Chris Bucolo, MBA, PCIP, SVP, Market Strategy at Sysnet Global Solutions and industry leaders from Wnet for the first co-branded webinar on August 26.
The webinar, Reinventing Yourself In A Fast-Changing World, will include top takeaways we hope you find useful as you navigate the future terrain.
We sat down with Chris, and he shared some insight into the upcoming webinar.
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.INDUSTRY NEWS
A brief look at the digital payment trends dominating 2021
TechHQ
Given how the pandemic changed everything about people’s daily life in the past year, merchants, among others, have learned to pivot quickly. The COVID-19 situation amplified many existing trends: businesses of all sizes turned to e-commerce, contactless payments picked up, and the popularity of omnichannel purchasing skyrocketed. The state of today’s digital payment landscape is one of great upheaval and of exciting possibilities.
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Boarding more merchants faster is key to growing a merchant acquiring business, but it’s risky. KYC due diligence is more than simply a required “tick-the-box” task—it’s the first and critical line of defense against boarding bad actors. This series is designed for risk managers looking to implement the latest advancements in KYC technologies to speed due diligence and underwriting while increasing revenue and compliance.
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'Many ways to make a payment' is here to stay
PYMNTS
I recently went out to eat at a local beachside restaurant, and at the end of the meal, the bill was delivered with a QR code on it. By scanning that QR code, I was able to pay, tip and leave any notes I wanted. A small beachside establishment offering this type of seamless payment process is no longer a surprise. Countless small businesses have adapted to provide digital options, altering their processes to increase convenience and safety for both the business and the consumer. Never before have there been so many ways to get to, and make, a payment; we have the pandemic to thank for that. I believe that the idea and spirit embodied by the “many ways to make a payment” ecosystem will carry on.
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Apple Pay versus Google Pay battle over security in Australian antitrust hearing
9to5Mac
An Australian antitrust hearing has witnessed an Apple Pay versus Google Pay security tussle, as the iPhone maker defends its decision to use a proprietary system instead of an open standard.
Apple says it limits use of the NFC chip for payment purposes to Apple Pay for security reasons, but Google disagrees, stating its own use of an open banking standard for Google Pay is no less secure.
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Boosting the video gaming industry with leveled up support for gamers
PaymentsJournal
The global gaming industry grew substantially in 2020, in part due to the pandemic. Consumers are also engaging with gaming in new ways, shifting to online and mobile channels and making payments through microtransactions and donations to streamers. With that industry growth and evolving engagement has come a need to increase engagement with gaming content creators and influencers, who are crucial for continued growth in the gaming industry.
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AgeChecker.Net is the leading provider in online age verification for age-restricted industries. Compliance for Tobacco, Vape, CBD, gaming, supplements and many more. Require your merchants to use online age verification for age restricted products. Protect your merchant portfolio by adding an additional layer of KYC compliance.
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Digital payments firms ride government growth wave
GovTech
The pandemic and consumer trends have fueled fresh deployments of payment technology for bills, taxes and fees. Can local and state government find new savings via online and mobile transactions?
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Tesla will 'most likely' restart accepting bitcoin as payments, says Musk
Reuters
Electric-car maker Tesla Inc will most likely restart accepting bitcoin as payments once it conducts due diligence on the amount of renewable energy used to mine the currency, Chief Executive Officer Elon Musk said at a conference on Wednesday.
Bitcoin was up 8% at $32,160.16, while ether surged 11.6% to $1,993.36. Tesla's shares were down 0.8% at $655.30 in extended trading.
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The B2B fraud lens focuses in on invoice scams
PYMNTS
Business email compromises (BEC) are among the most common methods of B2B payments fraud and can frequently involve invoice manipulation when a cyber attacker or nefarious actor alters bank information on an invoice to redirect B2B payments into the wrong account. But as this week’s B2B Data Digest shows, the BEC scam isn’t the only case in which invoice fraud can occur, with internal employees — and even CEOs — manipulating B2B bills to evade or make personal payments.
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Commentary: It's time for peer-to-peer payment apps and digital cash services to address fraud
Digital Transactions
Since PayPal’s launch more than 20 years ago, the peer-to-peer and digital-cash service industry has seen exponential growth, and with it, exponential amounts of fraud.
An estimated 70% of Americans use peer-to-peer and digital-cash services, and many turned to these products during the pandemic. However, in just the first four months of the pandemic, an estimated $13.4 million was lost to scammers across these platforms.
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Promoted by LegitScript
The domestic online gambling market in the United States is thriving — and any burgeoning market invites bad actors to penetrate. In an upcoming webinar, you'll learn about high-risk activity in domestic online gambling, new types of gambling, and how to effectively manage the risk within your merchant portfolio.
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Bitcoin and other cryptocurrencies surge on Amazon payments rumours
Yahoo!
Bitcoin and other cryptocurrencies surged higher on Monday morning, amid speculation that e-commerce giant Amazon could soon accept tokens as payment.
Bitcoin was up 12% to $38,723 (£28,169) at just after 8am on Monday morning in London. It marked the cryptocurrency's highest price in over a month.
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PagoNxt's Getnet boosts merchant payments offering in Europe
IBS Intelligence
Banco Santander’s payment FinTech, PagoNxt, recently announced that its merchant payments business is launching in Europe under the Getnet brand. Getnet, which has a strong business in Spain and Portugal, will now expand to other countries. Its services focus on a value proposition for large e-commerce retailers that will gradually expand to include over-the-counter and other types of payments.
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Lasting pandemic payments lessons
PYMNTS
One of the overriding business themes of the pandemic has been the accelerated pace of digital transformation. Many executives across multiple industries have speculated they were able to pack 10 years’ worth of digital innovation into one year because of customer and employee demands. The same holds true for payments. Consumer behaviors, business realities and technology advancements all came together over the last year to produce change at a breakneck pace. From the explosion in buy now, pay later (BNPL) options to a preference for web and phone purchases to a fast retreat from cash as a preferred exchange medium, many of these new behaviors are here to stay.
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Paystand banks $50 million to make B2B payments cashless and with no fees
TechCrunch
It’s pretty easy for individuals to send money back and forth, and there are lots of cash apps from which to choose. On the commercial side, however, one business trying to send $100,000 the same way is not as easy.
Paystand wants to change that. The Scotts Valley, California-based company is using cloud technology and the Ethereum blockchain as the engine for its Paystand Bank Network that enables business-to-business payments with zero fees.
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How the pandemic has forced changes in the way acquirers approach — and sell to — merchants
Digital Transactions
Ever since the COVID pandemic set in more than a year ago, the payments industry has been abuzz with talk about its various impacts on merchant acceptance. What hasn’t received as much attention is how the pandemic has affected merchant acquiring. It turns out processors and independent sales organizations have seen some surprising results.
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Promoted by
Sysnet Global Solutions
| Are you ‘prescribing’ the right security solution to your merchants?
When it comes to small businesses, an all-in-one cybersecurity solution is just what the doctor ordered. |
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Promoted by
Select Choice
| The world is changing every day. Help your team stay ahead of the curve with people solutions from Select Choice. In our latest whitepaper, Making Moments Matter, you'll have access to leading research on staff and resource development. |
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Ransomware: Here's how much victims have saved in ransom payments by using these free decryption tools
ZDNet
Ransomware gangs been prevented from making over a billion dollars following ransomware attacks by free decryption tools made available by the No More Ransom scheme.
The project, founded by Europol, the National High Tech Crime Unit of the Netherlands' police, Europol's European Cybercrime Centre, Kaspersky, and McAfee, launched five years ago and has grown to involve 170 partners across law enforcement, cybersecurity companies, academia, and others.
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