PAYMENTS

CapriCMW Picks SimplePin for Digital Payment Transformation

SimplePin | February 22, 2022

CapriCMW_Picks_SimplePin
Insurance giant CapriCMW has selected SimplePin Inc., the leading cloud-based digital payments platform in the insurance industry, to transform the digital payment landscape. The mission is to automate financial processes and ultimately transform their entire customer experience. SimplePin is known for building the leading premium payments platform in North America.

CapriCMW has come up with a solution that would reduce their cost of processing, automate the accounting process and integrate all sales channels, including web sales and affinity programs. These solutions are based on SimplePin Inc’s expertise in the payment space and intimate integration knowledge of the Applied EPIC broker management system.

Oksana Fodor, Director of Finance for CapriCMW, commented on the news. He says, "After a thorough solutions review, SimplePin met all requirements and was a clear choice. We are very impressed with SimplePin's innovative solution and deep understanding of the insurance business; this successful deployment will provide significant cost savings in terms of labor and processing fees for our organization."

We're proud to said leaders of the insurance industry like CapriCMW who share our vision and understand that the only way to grow and future-proof an organization is through technology."

MetodTopolnik, CEO of SimplePin.

CapriCMW is known for providing personalized insurance and custom risk solutions to offer customers the freedom and confidence to focus on what matters to them. CapriCMW is a uniquely independent employee created through the merger of CMW and Capri Insurance companies. The integration has leveraged the strength and stability of insurance and risk management experience. And it has resulted in a positive impact on how they serve their clients.

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FINANCIAL MANAGEMENT, PAYMENTS

OnBuy selects Nuvei for digital marketplace payments

Nuvei | November 10, 2022

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PAYMENTS

Aliaswire DirectBiller Modernizes Billing and Payment for Utilities

Aliaswire, Inc. | September 02, 2022

Aliaswire, a provider of bill payment and credit solutions for businesses and banks, today announced new capabilities for utility clients in its DirectBiller platform and reported impressive growth in the number of payments being processed by utilities. The new features address the growing need for utilities to meet customer expectations for more modern and convenient payment methods, while also reducing their operating costs. The company saw a 337% increase in the number of payments processed by utility companies on its DirectBiller platform over the last 12 months, with one natural gas provider processing over one million payments per month and continuing to grow volume at 12% month-over-month. “When you have recurring billing relationships like utilities, the billing and payment experience becomes a critical touchpoint. In many cases, it may be the only one a utility has with a customer each month, Not only does that experience have a huge impact on customer satisfaction, but it can also create big operational inefficiencies without proficient systems and processes in place, as finance teams are then forced to manually handle payment receipt and reconciliation.” -Jed, Rice, CEO of Aliaswire DirectBiller optimizes the billing and payment experience for residential, commercial and non-consumption utility customers. The platform manages the entire end-to-end process from billing through payment reconciliation and encourages on-time payments by providing easy and secure ways for customers to receive and pay their utility bills. DirectBiller enables utilities to consolidate all payment channels on a single platform and integrates seamlessly with utilities’ ERP systems and their banks’ treasury management systems to streamline payment reconciliation. Key features in DirectBiller for Utilities Bill Payment Members of the same household can log in separately to make payments against their shared account Multiple payment options (web, mobile, text, CSR, IVR, kiosk) One-time payment and auto pay Automated payment reminders Multilingual IVR service that follows the same payment flows as web and mobile experiences CSRs can provide one-time payment links via text or email to unenrolled customers Customers can pay directly on DirectBiller’s hosted payer portal, or the payment experience can be embedded within a utility’s existing payment site via single sign-on or API Real-time posting lets the utility and customer know immediately when payments have posted to better manage service levels and terminations Support for Multiple Divisions For utilities with multiple lines of business, DirectBiller can support separate payment flows and websites. Reporting can be provided at the division level as well as a single consolidated view at the corporate level. Flexible Card Processing and Fee Management Support for different fee models for residential, commercial and non-consumption lines of business Patented technology streamlines daily net settlement of surcharges, convenience fees. Competitive “cost plus” interchange pricing, including Level 2/3 processing Support for Non-Consumption Business Full PDF presentment of complex and multi-page invoices Multiple invoices can be grouped into a single payment transaction or processed individually Payers can apply credit memos to invoices and pay net balance due About Aliaswire, Inc. Aliaswire is a fintech company based in Boston with a history of innovation in payments. The company supports leading financial institutions and merchant services providers with bill pay through DirectBiller® and small business credit solutions through Payvus®.

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CORE BANKING, PAYMENTS

Sabre, Conferma Pay and Mastercard Join Forces to Power the Travel Economy with Virtual Cards

Sabre, Mastercard and Conferma Pay | November 29, 2022

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FINANCIAL MANAGEMENT

Jingle Pay, the Financial Super App, Set to Launch in Bahrain in collaboration with AFS

AFS and Jingle Pay | October 12, 2022

Jingle Pay, a financial super-app that provides money services in the Middle East, North Africa and Pakistan (MENAP) region, has entered into a strategic partnership with Arab Financial Services (AFS), the leading digital payments solutions provider and Fin-Tech enabler in the Middle East and Africa (MEA). Jingle Pay and AFS will join forces to deliver unique digital payments and exceptional customer experience in the Kingdom of Bahrain. The partnership expands Jingle Pay's footprint in the region simplifying the everyday financial lives of the masses. Jingle Pay, the MENAP financial super-app, provides expatriates with the world-first remittance marketplace. In 2022, the World Bank reports, Officially recorded remittance flows to low- and middle-income countries (LMICs) are expected to increase by 4.2 percent this year to reach $630 billion. In Bahrain, Jingle Pay app users will have access to instant account opening, multi-currency cards, instant and fee-free money transfers to over 160+ countries and 99+ currencies, P2P payments including splitting bills, AI-embedded financial analytics, in addition to other value-added services Amir Fardghassemi, Chief Executive Officer of Jingle Pay states, Through this strategic collaboration, Jingle Pay will operate as the digital financial technology arm of AFS's mobile consumer business. AFS will provide end-to-end support in Bahrain for prospective Jingle Pay users, from digital onboarding to the processing of transactions made using the Jingle Pay app. Ultimately, customers can look forward to free and instant account opening accompanied by various instant payment and money transfer services, one of which is Jingle Pays world-first remittance marketplace, which allows users to send money to over 160 countries at the best exchange rates. "Part of AFS's success and expansion strategy is built on partnering with market disrupters with the aim of creating innovative solutions that bridge gaps in more traditional offerings present in today's payment ecosystem. This has proven to have a significant impact on our local and regional economy and further develops and enhances the mechanics of the financial services industry." -Samer Soliman, AFS Chief Executive Officer remarks Jingle Pay focuses on simplifying the lives of young adults who are seeking an instant, accessible, and user-friendly application to service their daily financial needs. The International Fund for Agriculture and Development, a UN agency, states, A staggering one billion people worldwide are involved with remittance. Every year, 200 million migrant workers send money home, and 800 million people benefit from these flows. Accordingly, Jingle Pay developed its innovative world-first remittance marketplace while acknowledging the key role remittances play in contributing to the GDP and achieving income equality in the MENAP region. While exploring the influence of Fin-Tech platforms on reducing financial disparities in the MENA region, Aiyub Dawood, a senior correspondent, states that beyond tech hub cities like Dubai, Abu Dhabi, Riyadh and Manama, the region is home to 85 million of the world's two billion unbanked adults. Similarly, the World Bank reports that in Pakistan 81.9% of young adults lacked access to bank accounts in 2021. Nonetheless, a hopeful sentiment reflected in the Global Findex 2021 report portrays a spike in first-time digital payments made by adults post-COVID-19 lockdowns. The report concludes that the digitalization of the financial sector boosts financial inclusion. By offering free and instant activation of digital multi-currency accounts, Jingle Pay focuses on financial inclusion through simplifying daily financial lives - aligned with the UN's 2030 Sustainable Development Goals (SDG) for increased financial inclusion worldwide. About AFS: Licensed as an Ancillary Service Provider by the Central Bank of Bahrain, and majority-owned by Bank ABC, AFS boasts numerous ground-breaking end-to-end digital payment services and solutions. These span debit, credit, and Islamic card processing, merchant acquiring, Fintech, and a suite of state-of-the-art value-added services. Providing the highest quality payments solutions that are trusted by businesses, AFS has offices and data centers in Bahrain, the UAE, and Oman. Its dedication to innovation has positioned AFS as a driving market force delivering a rich portfolio of payment solutions including popular digital mobile wallets, market-leading merchant acquiring services, Bahrain's leading digital payroll solution, cloud contact centers and more. About Jingle Pay Jingle Pay is a MENAP financial super-app, which empowers its users with a fast digital account, free of fees and zero-commitments, to reliably store, spend, and send money to 160+ countries, in 99+ currencies, at the best exchange rates globally. Jingle Pay's operations extend across the MENAP region with presence in the UAE, Bahrain, Pakistan and Egypt.

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