Market Newsdesk

MONTREAL, June 16, 2022 (GLOBE NEWSWIRE) — Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), tomorrow’s payment platform, announces today the launch of a new risk management model underpinned by cutting-edge machine learning technology for its Instant Bank Transfer product in North America.  

A pioneering algorithm has been integrated into a new risk engine for the extremely popular account-to-account payment method. Factors such as account age, transaction value, and balance usage will be analyzed by the engine to determine the risk level that a transaction is fraudulent and augment existing levels of security. There will be no impact on consumer experience or businesses’ existing single integration with Nuvei.

The machine learning model extracts complex patterns to improve the identification of fraudulent activity and reduce false positives where legitimate transactions are declined. Benefits of processing vast amounts of data with no latency in this way include:

• Improved customer retention as legitimate consumers are less likely to have their transactions declined
• Higher acquisition as the model makes smarter decisions on accepting payments from new customers
• Reduced risk and higher confidence when transactions are accepted or rejected
• Lower costs as financial penalties associated with fraudulent activity are minimized

By using this decision engine merchants will see improvements as high as 30% in detection of fraudulent transactions, including friendly fraud, from the launch day. Nuvei expects this score to keep improving as the model has been designed to auto-improve its ability to identify bad actors as it processes more data and identifies deeper relationships.

Nuvei Chair and CEO Philip Fayer commented on the announcement: “We’re really excited to bring this new solution to our merchants to help accelerate their business. We continue to invest in our AI and data management. We are constantly innovating our products to develop features that reduce fraud and maximize revenue for our customers through customized solutions that meet their exact needs. This is only the beginning and we can’t wait to announce other game-changing innovations in the near future.”

About
 
Nuvei

Nuvei (Nasdaq: NVEI) (TSX: NVEI) is tomorrow’s payment platform. Designed to accelerate customers’ business, Nuvei’s modular, flexible and scalable technology allows leading companies to accept next-gen payments, offer all payout options and benefit from card issuing, banking, risk and fraud management services. Connecting businesses to their customers in more than 200 markets, with local acquiring in 45+ markets, 150 currencies and more than 550 alternative payment methods, including cryptocurrencies, Nuvei provides the technology and insights for customers and partners to succeed locally and globally with one integration.

For more information, visit www.nuvei.com

WOONSOCKET, R.I., June 16, 2022 (GLOBE NEWSWIRE) — Summer Infant, Inc., doing business as SUMR Brands (“SUMR Brands” or the “Company”) (NASDAQ: SUMR), today announced that its stockholders have voted at a special meeting to adopt the previously announced definitive merger agreement pursuant to which the Company will be acquired by Kids2, Inc. The final voting results for each proposal voted on at the special meeting will be set forth in a Form 8-K filed by the Company with the U.S. Securities and Exchange Commission.

“We want to thank our stockholders for their support of our transaction with Kids2,” said Stuart Noyes, the Company’s CEO. “Their vote of confidence was pivotal to closing this transaction, which will benefit our channel customers and, ultimately, the end consumers they serve.”

The closing of the transaction is expected to occur on or about June 22, 2022, subject to the satisfaction or permitted waiver of all remaining closing conditions.

About SUMR Brands, Inc.

Based in Woonsocket, Rhode Island, the Company is a global leader of premium juvenile brands driven by a commitment to people, products, and purpose. The Company is made up of a diverse group of experts with a passion to make family life better by selling proprietary, innovative products across several core categories.

Forward-Looking Statements

Certain statements in this release that are not historical fact may be deemed “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and the Company intends that such forward-looking statements be subject to the safe harbor created thereby. These statements are accompanied by words such as “anticipate,” “expect,” “project,” “will,” “believes,” “estimate” and similar expressions, and include statements regarding the Company’s expectations regarding the expected closing of the pending acquisition of the Company by Kids2, Inc. The Company cautions that these statements are qualified by important factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include risks related to the proposed merger with Kids2, Inc., including disruption of management’s attention from ongoing business operations due to the pending transaction, that one or more closing conditions to the transaction may not be satisfied or waived, on a timely basis or otherwise, that the transaction does not close when anticipated, or at all, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement, potential adverse reactions or changes to employee or business relationships resulting from the announcement or completion of the proposed merger, the risk of litigation or legal proceedings related to the proposed transaction, and unexpected costs, charges or expenses resulting from the proposed transaction, and other risks as detailed in the Company’s most recent Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. The Company assumes no obligation to update the information contained in this release.

Company Contact:

Chris Witty
Investor Relations
646-438-9385
[email protected] 

The TUBE

^®

’s First Livestream Shopping Event is Scheduled for June 21, 2022 at 6 p.m. ET

The global athleisure market size was valued at USD $306.62 billion in 2021, and The TUBE
^®
leverages MARKET’s shoppable livestream capabilities to reach this profitable audience

NEWPORT BEACH, Calif. and SALT LAKE CITY, June 16, 2022 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), the leader in interactive video-based sales-enablement applications, including shoppable livestream video, today announced a new partnership with The TUBE^® Wearable Waistband, a highly sought-after brand featured on NBC’s hit show, The Biggest Loser. The brand will begin hosting livestream shopping events on  MARKET, VERB’s livestream shopping platform, on June 21, 2022 at 6 p.m. ET. The events will be livestreamed from The TUBE^®’s MARKET storefront. You can RSVP here.

More than a running belt, The TUBE^® is designed to be form-fitting, functional and perfect for all body types. The TUBE^® is a patented, revolutionary way to securely carry your personal items and is ideal for both exercise and everyday use. Founder/CEO Lisa Henry Holmes created this comfortable, streamlined answer to the fanny pack with one elastic band and three intelligently crafted pockets to use a million different ways. “The TUBE^® fits your important personal items securely without adding bulk,” Holmes said.

The TUBE^® Waistband is the official workout belt of NBCUniversal’s American Ninja Warrior™. Worn by Ninja Warriors for their training, this belt has garnered a cult following. The TUBE^® was also selected to be the exclusive running belt of the Ragnar Relay and Hot Chocolate 15K & 5K national race series.

“The TUBE represents universal appeal, which makes it a perfect fit for the MARKET livestream platform,” said Holmes. “MARKET is a unique platform with features and functionalities like no other. I created The TUBE^® to address the shortfalls of like products, and MARKET has done the same, which is what makes this partnership so appealing. Being able to combine selling with a variety-show format, allowing me to interact with audiences in real time, creates the ideal environment for me to up-level my business.”

“Anything Lisa touches turns to gold,” said Kate Eckman, VERB SVP of Programming and Talent Acquisition. “This is the first of many events we will co-host together, showcasing the magic of combining quality brands with MARKET – the premiere livestream shopping platform.”

About MARKET

MARKET is a 24/7, multi-vendor, livestream shopping platform designed to host simultaneous livestream shopping sessions by consumer brands, big-box stores, boutiques, celebrities, content creators, and influencers selling products and services across numerous categories.

About VERB

Verb Technology Company, Inc. (Nasdaq: VERB), the market leader in interactive video-based sales applications, transforms how businesses attract and engage customers. The Company’s Software-as-a-Service, or SaaS, platform is based on its proprietary interactive video technology, and is comprised of a suite of sales enablement business software products offered on a subscription basis. Its software applications are used by hundreds of thousands of people in over 100 countries and in more than 48 languages. VERB’s clients include large sales-based enterprises as well as small business sales teams, including the sales and marketing departments of professional sports teams. Of note is its forthcoming MARKET, a multi-vendor, multi-presenter, livestream social shopping platform at the forefront of the convergence of ecommerce and entertainment. With approximately 170 employees and contractors, the Company is headquartered in Lehi, Utah, and it also maintains offices in Newport Beach, California.

For more information, please visit: www.verb.tech.

Follow VERB here:

VERB on Facebook: https://www.facebook.com/VerbTechCo/
VERB on Twitter: https://twitter.com/VerbTech_Co
VERB on LinkedIn: https://www.linkedin.com/company/verb-tech/
VERB on YouTube: https://www.youtube.com/channel/UC0eCb_fwQlwEG3ywHDJ4_KQ
Download verbMAIL here: verbMAIL on Microsoft AppSource Store
Sign up for email alerts here: https://ir.verb.tech/news-events/email-alerts

FORWARD-LOOKING STATEMENTS

This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “anticipate,” “expect,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements contained in this press release relate to, among other things, the Company’s projected financial performance and operating results, including SaaS Recurring Revenue, as well as statements regarding the Company’s progress towards achieving its strategic objectives, including the successful integration and future performance of acquisitions. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to the COVID-19 pandemic and related public health measures on our business, customers, markets and the worldwide economy; our plans to attract new customers, retain existing customers and increase our annual revenue; the development and delivery of new products, including verbLIVE; our plans and expectations regarding software-as-a-service offerings; our ability to execute on, integrate, and realize the benefits of any acquisitions; fluctuations in our quarterly results of operations and other operating measures; increasing competition; general economic, market and business conditions. If any of these risks or uncertainties materialize, or if any of our assumptions prove incorrect, our actual results could differ materially from the results expressed or implied by these forward-looking statements. Investors are referred to our filings with the Securities and Exchange Commission, including our Annual Reports on Form 10-K, 10-KA, and Quarterly Reports on Form 10-Q, for additional information regarding the risks and uncertainties that may cause actual results to differ materially from those expressed in any forward-looking statement. All forward-looking statements in this press release are based on information available to us as of the date hereof, and we do not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made, except as required by law.

Investor Relations:

888.504.9929
[email protected]

Media Contact:

855.250.2300, ext.107
[email protected]

ARLINGTON, Va., June 16, 2022 (GLOBE NEWSWIRE) — Three in 10 U.S. workers (30%) are struggling financially, and more than two in five workers (43%) are having difficulty meeting basic needs, according to research from the 2022 Global Benefits Attitudes Survey by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company. The survey also found a significant number of employees deferred medical care last year because of time constraints, COVID-19 concerns and cost reasons.

Employee financial wellbeing has been deteriorating since the start of the pandemic. According to the survey, more employees are living paycheck to paycheck — 41% this year versus 38% in 2019. Among workers earning $100,000 or more, the number of employees living paycheck to paycheck doubled from 18% in 2019 to 36% this year. Over half of workers earning less than $50,000 (52%), single parents (53%), and those in poor or fair health (57%) are also living paycheck to paycheck. Additionally, employees living paycheck to paycheck are almost twice as likely to leave their employer for a 5% raise (48%) compared with those not living paycheck to paycheck (29%). The survey of more than 9,600 U.S. workers was conducted during December 2021 and January 2022.

Financial issues are widespread, according to the survey. Many workers reported having difficulty accessing or paying for housing (23%), healthcare (22%) or healthy food (19%), while nearly half suffered a financial shock in the past year. Three in 10 (31%) incurred a significant medical expense, while 23% were placed on furlough or had their hours reduced. About one in seven (15%) were victims of a financial fraud or scam, while 13% experienced significant expenses due to a divorce or separation. These financial shocks might have led to financial moves that could undermine employees’ long-term security, including taking a home equity loan or downsizing their home (23%); taking a 401(k) loan (26%); or being unable to pay their mortgage, rent or utility bills (36%).

“The pandemic continues to affect the financial wellbeing of working Americans,” said Mark Smrecek, senior director, Retirement, WTW. “The link between financial stability and overall wellbeing has become even more precarious as employees fret over inflation, economic instability and workplace challenges. Employees are now looking to their employers for support. Employers, in turn, can help employees weather the storm and enhance their financial stability by factoring in wellbeing when considering programs.”

According to the survey, more than one-third of respondents (36%) said employer-provided resources helped improve their financial situation. That’s an increase from 27% in 2017. Additionally, nearly half of respondents (46%) want financial apps and tools to be a core part of their employee benefit programs.

Employees who deferred care suffered

The survey also revealed a strong link between healthcare affordability and deferred care. Four in 10 employees (40%) reported they deferred medical care over the past year. That includes 28% who delayed or canceled a medical procedure or appointment, or treatment, and 17% who failed to fill a prescription. One in five respondents (20%) said their healthcare provider delayed or canceled a procedure or appointment, or treatment. When asked what prompted them to defer care, 25% said they couldn’t afford it and 23% were unsure of the costs.

The survey also revealed that employees with significant difficulty paying for healthcare are more likely to suffer due to deferred care. Overall, one-third of respondents (33%) who had care deferred or canceled either by themselves or by a provider said their health suffered; however, among those who found it very difficult to afford care, over half (58%) said their health suffered as a result.

“The ability to access and afford healthcare has always been a high priority for employers and employees. As organizations plan their future benefit offerings, in light of an expected increase in medical inflation, we expect most employers will prioritize affordability and continue to focus on expanded use of virtual care, including telemedicine, as an integral part of their healthcare strategy in order to provide cost-effective, high-quality care to their employees and families,” said Regina Ihrke, senior director, Health and Benefits, WTW.

About the survey

The 2022 Global Benefits Attitudes Survey was conducted during December 2021 and January 2022. Respondents include 9,658 U.S. employees from large and midsize private employers, representing a broad range of industries.

About WTW

At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.

Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.

Learn more at wtwco.com.

Media contact:

Ed Emerman: +1 609 240 2766
[email protected]