PAX Edge Launches, AI and Crypto Payments Advance
PAX Technology Inc. has announced a partnership with Omni Integration Inc. to develop PAX Edge, a payment software solution. This software is designed to be compatible with various gateway and backend systems, offering flexibility beyond a single processor. The collaboration aims to provide businesses with a versatile payment processing tool that can adapt to different environments, enhancing efficiency and scalability.
In other developments, Cognizant has secured a five-year contract to implement AI technology for Ingenico’s point-of-sale terminals, focusing on enhancing infrastructure and operations.
The Solana Foundation, alongside Matera and Payfinia, showcased X9.150, a QR code payment standard enabling transactions via the FedNow and RTP networks, as well as USDC stablecoin on the Solana network. The demonstration, which took place at the Money20/20 trade show, does not constitute a product launch, the companies say, but highlights the potential for seamless integration of real-time and cryptocurrency payments.
For consumers, U.S. Bank introduces Payment Switch, a mobile app feature simplifying the process of switching recurring payments to their debit or credit cards, eliminating the need to visit merchant sites or third-party platforms.
A Forter Inc. survey conducted by The Harris Poll reveals that 67% of 2,000 U.S. consumers plan to utilize AI for holiday shopping, with 37% expecting to use it more than in 2025, indicating a growing reliance on technology for retail decisions.
The financial impact of fraud is highlighted by LexisNexis Risk Solutions, stating that for every $1 in fraud, U.S. financial firms incur $5.47 in costs, while Canadian firms face $4.09, showing the significant economic burden of fraudulent activities.
In the area of cryptocurrency, Mastercard launches Stablecoin Security to assess stablecoin transaction risks, providing a critical tool for managing crypto-related financial exposures. Mesh partners with Visa to enable in-store and online payments directly from stablecoin wallet apps, leveraging Visa’s network, which reaches approximately 175 million merchant locations in 200 countries and territories.
