PYMNTS

SEPTEMBER 30, 2019

eCommerce sales tax laws are having unintended consequences in the tobacco industry. State governments began rolling out economic nexus laws after 2018’s South Dakota vs. Wayfair ruling. percent tax on each imported premium cigar, limited to a maximum of about $0.40 in 2017 had a 52.75

Retail 109

Retail Taxes Virginia South Dakota 109

Abrigo

SEPTEMBER 12, 2019

The Federal Trade Commission’s latest round of warning letters to companies selling products containing cannabidiol (CBD) is a reminder to financial institutions to tread carefully as they look into the possibility of providing banking services to cannabis-related retailers and other cannabis-related businesses (CRBs).

Retail 150

Retail Policies Regulation Compliance 150

PYMNTS

NOVEMBER 10, 2020

Part of an investigation launched in 2018, the updated charge sheet questions if Amazon abused its position to use merchants’ collected data against them. Amazon didn’t comment to FT and has in the past downplayed antitrust concerns, pointing to the many retailers with private label goods. . In the U.S. Both companies have appealed.

Data 185

Data Illinois Taxes Compliance 185

PYMNTS

FEBRUARY 13, 2019

The Colorado Department of Revenue has revealed that the state’s regulated marijuana industry sales have topped $6 billion since sales began in 2014. In addition, taxes generated by the industry grew by nearly 8 percent last year. Last year, regulated marijuana sales in Colorado were nearly $1.55 billion the previous year.

Industry 155

Industry Colorado Taxes California 155

PYMNTS

FEBRUARY 20, 2019

Worldwide legal cannabis products represented a $55 billion market in 2018, and most analysts estimate that it will have nearly tripled to reach $147 billion by 2025. the domestic market for legal cannabis in 2018 was $9.1 From there, the regulation of CBD gets a little more complicated. Here in the U.S.,

Retail 136

Retail District of Columbia San Francisco Denver 136

PYMNTS

FEBRUARY 28, 2019

Wirex, a cryptocurrency and fiat (real money) payments platform, is releasing a beta version of a regulated crypto-oriented business account, according to reports. to allow businesses to pay their corporate taxes in bitcoin. According to Good Audience , hundreds of thousands of retailers currently accept cryptocurrency.

Ohio 162

Ohio cryptocurrency Taxes Bitcoin 162

PYMNTS

OCTOBER 25, 2019

The 2018 South Dakota v. tax laws, and some businesses and public sector stakeholders are now pushing back. The case ushered in a wave of state- and municipality-issued economic nexus laws that tax remote sellers based on economic activity rather than physical presence. Wayfair ruling paved the way for broadened U.S.

Taxes 100

Taxes South Dakota Policies Compliance 100

PYMNTS

OCTOBER 23, 2019

The trend promises to heat up even more in the 2020s, and in a new PYMNTS interview, Butch Langlois, president, North America, for cloud-based retail management software seller Vend , provided an in-depth tour of those changes and a glimpse of what’s to come. The average American ate out 185 times in 2018 — dropping from 216 times in 2000.

Retail 101

Retail System Mobile Innovation 101

PYMNTS

DECEMBER 28, 2018

It has been a busy year for the world of bank regulations, particularly Know Your Customer (KYC). Financial services regulations are notorious for their complexity and ever-changing demands for financial institutions and corporates, but another fuel for development in the KYC space was the FinTech community. ” .

Compliance 186

Compliance Regulation blockchain Taxes 186

PYMNTS

MAY 8, 2020

consumers more frugal, but other individuals are still turning to retail therapy to cope with stresses. The importance of fast, secure disbursements might hold a different weight now that players are betting online more often and more readily looking for the speeds they experience with typical retail transactions.

Online 176

Online Industry New Jersey Pennsylvania 176

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. The IRS has accepted digitally filed tax documents and issued digital refunds for years, and it received approximately 29 million electronic returns via direct deposit between February 2018 and February 2019.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

JULY 13, 2018

The current quarter included a 10-cent per share income tax expense. . Officials said non-interest income was down $684 million from the first quarter of 2018, to about $9 billion in the second quarter, citing lower mortgage banking fees and other income. The bank reported 5,977 retail branches in the year-ago quarter.

South Dakota 101

South Dakota San Francisco Indiana Wisconsin 101

PYMNTS

OCTOBER 22, 2018

As of September 2018, losses from gift-card fraud have hit $53 million. They may pretend to be the IRS and tell people they cannot use other payment methods because of their delinquent tax status,” according to the FTC. The reported goal is to reorganize the retailer around a smaller footprint of 700 stores. Some major U.S.

Data 134

Data Fraud Cards Regulation 134

CB Insights

FEBRUARY 13, 2020

This process also comes with hurdles like regulations, fees, compliance standards, and payment card issuers — all of which become increasingly complex for international transactions. Stripe often states that less than 8% of total commerce occurs online, suggesting roughly $26T in global, omnichannel retail sales. Source: Stripe.

Online 98

Online Company Retail Payments 98

CB Insights

OCTOBER 10, 2018

Startups targeting retail and commercial banking have been emerging globally, spurred by favorable tech regulations, an uptick in mobile adoption, and shifting customer demographics. This year in the US, JP Morgan launched mobile banking app Finn and Goldman Sachs’ retail banking arm Marcus crossed 1.5M Incumbents Play Catch-Up.

Retail 78

Retail Cards Millennials Mobile 78

PYMNTS

AUGUST 9, 2019

As the price of bitcoin surged this week, cryptocurrency (namely, Facebook’s Libra) has been under increased scrutiny by regulators. Even if exchanges are done electronically, they are monitored and regulated by central banks. The folks who bought their bitcoin at around $4,000 are feeling pretty smart. division of the firm.

Bitcoin 143

Bitcoin Regulation cryptocurrency Taxes 143

PYMNTS

SEPTEMBER 4, 2019

Merchants must handle the sales tax compliance obligations of each locale from which they receive money if they want to sell online. The complexities of sales tax compliance affect business decisions by both sellers and marketplaces, according to Ted Hettich, chief sales officer at U.K. Deciphering obligations. for example. .

Taxes 131

Taxes Policies Compliance Retail 131

PYMNTS

DECEMBER 10, 2018

“We probably will see a lot of low-paying businesses, a lot of restaurants, maybe some retail stores, they’re going to go out of business because they can’t get the workers they need,” he said. “And that’s the way the market economy works, for better or worse.” percent and averaging $26.89

Marketing 148

Marketing Data Survey America 148

PYMNTS

APRIL 30, 2018

In this world, the only things certain are death and taxes. According to a Crunchbase article published in February of 2018, investments in blockchain and blockchain-related startups (excluding initial coin offerings, or ICOs) were already 40 percent of what they were in 2017. billion in 2018 growing to $1.1 Benjamin Franklin.

Fintech 183

Fintech blockchain Lending Digital Banking 183

PYMNTS

FEBRUARY 12, 2018

Put on a Retail Happy Face. Yup, physical retail is doing just fine — despite all the talk of doom and gloom. Yet, according to Fung Global Retail & Technology, 6,985 stores closed in 2017 , up 229 percent from 2016, and well above the number of stores which closed in the year that started physical retail’s death spiral: 2008.

Big Data 135

Big Data Data Retail Marketing 135

PYMNTS

NOVEMBER 26, 2019

Businesses depend on the public services tax revenues pay for: roads that facilitate deliveries, courts where firms resolve legal disputes and regulators that help protect businesses from fraud. Even businesses eager to pay their share, however, may feel that complying with tax laws is complicated. .

Taxes 141

Taxes South Dakota District of Columbia Compliance 141

Abrigo

OCTOBER 15, 2019

Regulators expect case and SAR closure documentation to be as extensive and thorough as a SAR narrative. A 2018 FinCEN civil money penalty was issued against a financial institution for “willfully violating the Bank Secrecy Act.” Can Financial Institutions Bank CBD Retailers? Justify each decision with confidence. We can help!

System 150

System Resources Software Conference 150

PYMNTS

NOVEMBER 29, 2019

And in the wake of all those sales lies a pressing issue for merchants plying their trades online: figuring out the tax liabilities. At the same time, navigating tax policies is proving to be a complex business. tax policy at Avalara , noted that this holiday season is the second one post-Wayfair. The hard part?

Taxes 134

Taxes South Dakota New York Nebraska 134

PYMNTS

FEBRUARY 27, 2019

The FTC said it brought forward “its first case challenging a marketer’s use of fake paid reviews on an independent retail website.”. Fake product reviews on Amazon and other retail platforms are not the only recent issue at play when it comes to this area of eCommerce. The case involves “Cure Encapsulations, Inc.

Online 108

Online San Francisco California Operations 108

CB Insights

DECEMBER 15, 2020

These companies differentiate themselves from traditional human advisors with lower fees, 24-hour automated support, portfolio rebalancing, and tax optimization, which can translate to higher returns for investors in the long run. Total wealth management deals were up 31% from 2018, according to PwC. Source: Bloomberg. What’s next?

Management 87

Management Fintech Industry Trends 87

CFPB Monitor

MARCH 14, 2019

Although issued under Director Kraninger’s leadership, the Winter 2019 Supervisory Highlights covers examinations generally completed between June and November 2018 when Mick Mulvaney was Acting Director. However, the servicer charged late fees based on a percentage of the full periodic payment of principal, interest, taxes, and insurance.

Taxes 68

Taxes Leadership Policies Exercises 68

PYMNTS

OCTOBER 28, 2019

The 2018 South Dakota v. An additional 12 states have added or amended marketplace facilitator laws, and even more states are slated to implement remote seller tax laws in the next few years. . New remote seller laws hinder sales tax avoidance, and states are using the Wayfair ruling to apply additional tax forms to these sellers.

South Dakota 105

South Dakota Taxes Retail Arizona 105

PYMNTS

FEBRUARY 18, 2019

That’s the only way the business can ultimately continue to create value for its customers, create jobs for people, serve the ecosystem in which it operates and provide tax revenues. So, Amazon hasn’t just benefited its customers: It has forced retailers to lower prices and increase their levels of service. But wait a second.

Cards 169

Cards Course Study New York 169

PYMNTS

JANUARY 31, 2020

This is not the same as eCommerce putting pressure on traditional retail because banking is a very different animal obviously.”. That may not sound like a lot, but that is almost double from 2018. Data for ransomware, tax evasion and money laundering, however, is likely underestimated because it is hard to track.

Bitcoin 100

Bitcoin Payments Los Angeles blockchain 100

PYMNTS

SEPTEMBER 5, 2019

Governments rely on tax revenues to fuel the vital services they provide to residents and businesses – from firefighting and public education to water system repair and road maintenance. Retail sales taxes have long been key sources of state governments’ budgets and have been their greatest single stream of revenue since the mid-1900s. .

South Dakota 116

South Dakota Taxes Policies North Dakota 116

Gonzobanker

DECEMBER 19, 2017

Heavy-handed regulators. Here’s hoping a final remodel of the stage coach occurs in 2018. Monty Python “I’m Not Dead … Yet” Award – Goes to physical retail. Malls, retail stores and even some bank branch closings proliferated in 2017. Hard to imagine a lot of deal signings headed into 2018 – except the IRS, of course.

Conference 101

Conference Industry Community Bank Community 101

Jeff For Banks

JULY 8, 2017

I believe that we are in this era of weak growth, now eight years old, for the long haul unless changes are made to regulation and we stop adding debt at break-neck speed. Weak readings on employment, housing data, and retail sales won’t stop them. Incidentally, Chair Janet Yellen’s term at the Fed expires in February, 2018.

Marketing 60

Marketing Community Bank Security Data 60

CB Insights

OCTOBER 26, 2020

This regulation reduced trading profits and created a need to cut costs, spurring investment banks to spin off unprofitable divisions or eliminate them entirely. And across equity research and sales & trading, poor performances and new regulations have led to widespread layoffs as banks have figured out they can do more with less.

Management 78

Management Capital Company Marketing 78

PYMNTS

APRIL 16, 2018

It’s also a core tenant that I outlined in my January 2018 annual opus on trends that will drive the payments and commerce ecosystem dynamics this year and in the years to come. Those searches are prompted by a consumer’s interest in discovering the answer to something: When are federal taxes due? billion searches a day or some 1.2

Google 121

Google Data social media Branding 121

Tomorrow's Transactions

JANUARY 25, 2016

There are plenty of rumours of who has and hasn’t got a payments licence, but I think one underplayed angle is that of the retailers. from Woking in the morning and barely make it alive into Waterloo, scrabbling to keep up with things, sliding further and further into poverty as we are taxed to the hilt.

Trends 39

Trends Payments Millennials blockchain 39

PYMNTS

JANUARY 10, 2019

trillion) in 2018 alone, and growing at double digits into the current year. Platform operators and merchants must conduct due diligence related to everything from intellectual property and tariffs to tax laws and FX rates. Working with Regulators. Top markets include Japan, the United States and Korea.

United States 158

United States Regulation Compliance Strategy 158

PYMNTS

NOVEMBER 22, 2019

Lawyer George Isaacson argued Wayfair’s side in the historic 2018 South Dakota v. Isaacson has watched remote sales tax policies unfold since that time in a flurry of new laws that differ by state, and even municipality. Magic Mirror On The Wall, Is AR The Innovation For Retailers All? Wayfair case. In one salvo, U.S.

South Dakota 108

South Dakota Google Taxes Branding 108