PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. Now the company has enacted security and AML procedures, to the consternation of cryptocurrency advocates. The drivers of AML initiatives in the U.S.

cryptocurrency 116

cryptocurrency Regulation Compliance blockchain 116

PYMNTS

JANUARY 24, 2021

Cygnet Infotech promotes FACE as a product that handles not only conventional accounting processes, but also provides specialized handling of challenges around goods and services taxes. India uses its Invoice Registration Portal to track business activity and ensure compliance with tax laws.

Taxes 178

Taxes Compliance Software Fraud 178

PYMNTS

JANUARY 26, 2018

And lest you think changes in tax policy sow confusion only in the United States, think again. Bitcoin breeched a key psychological barrier on news that the South Korean government would tax income earned by virtual currency exchanges to the tune of 24.2 This past week saw a wild ride. billion raised.

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Bitcoin Taxes cryptocurrency Regulation 123

PYMNTS

DECEMBER 10, 2020

In today’s top payments news around the world, Xoom is now offering clients in the U.S., the ability to send secure funds to 12 countries in Africa for a reduced fee, while Volante Technologies Inc. Plus, HM Treasury is seeking input on the challenges that the sharing economy brings for value-added tax (VAT). Canada, U.K.

Payments 178

Payments Google Technology Taxes 178

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. This in the wake of the OCC’s Sept. The Pandemic Pop.

cryptocurrency 323

cryptocurrency Regulation Trends Bitcoin 323

PYMNTS

FEBRUARY 18, 2019

Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. which the institution plans to deploy in its corporate payments operation. BitRail doesn’t yet operate in the B2B payments space. “I think the future of B2B payments is cryptocurrency,” he said.

cryptocurrency 175

cryptocurrency Payments blockchain Compliance 175

PYMNTS

JANUARY 24, 2020

Government disbursements can range from child support payments and annual tax returns to pension and retirement fund payouts. Some reports put the cost of cutting, mailing and processing checks at nearly $8 per instance — a hefty price for those required to send out thousands, if not millions, of these payments each year.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

MARCH 2, 2020

Late payments are a reflection of a broader challenge in B2B payments: Large corporate buyers can wield their market power with small suppliers that lack leverage to negotiate faster payment terms. But late payments aren’t the only symptom of unequal B2B relationships. In the context of late payments in the U.K.

Payments 143

Payments Report Training Regulation 143

PYMNTS

SEPTEMBER 17, 2019

Today in the payments news roundup, Trulioo has notched $70 million in new funding. And an increased number of banks are swapping their own regulators for Office of the Comptroller of the Currency (OCC) oversight. Square Launches SMB Tax ID Tool. Banks Scrapping Regulators For Friendlier OCC Oversight.

Payments 100

Payments Taxes Regulation Tools 100

PYMNTS

JANUARY 19, 2018

Fizzle of the Week: Cryptocurrency Regulation. The saga over bitcoin and its relationship to various regulators has become something of the payments answer to a romantic comedy. Bitcoin banned can be a store of value, but as a payment method, it probably has no future. Easy come, easy crypt-go, it seems. As for next week?

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Bitcoin Regulation cryptocurrency Taxes 123

PYMNTS

SEPTEMBER 16, 2020

PSD2 and open banking regulations were forged to accelerate competition in the financial services arena, and this week, a look at the latest initiatives reveals the opportunity for new market entrants to rival incumbents in the small business banking arena. Faster Payments and BACS schemes. Eedenbul Secures PSD2 License.

Taxes 141

Taxes Fintech Payments Security 141

PYMNTS

AUGUST 5, 2020

Helium 10 has launched its new Alta program, which will let Amazon sellers access “robust digital wallet, rapid approval credit lines, daily advances on Amazon payments, international direct payment and tax management,” according to a press release. ” .

Taxes 147

Taxes Capital Payments Management 147

PYMNTS

SEPTEMBER 28, 2020

They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers. Corporate buyers that have gathered enough information on potential business partners then need to answer to regulators.

Data 166

Data Management Taxes Meeting 166

PYMNTS

DECEMBER 29, 2020

Securities and Exchange Commission's suit against Ripple and two of its executives. And the Indian government is mulling an 18 percent goods and services tax (GST) for bitcoin transactions, the Times of India reported. In other news, OKCoin has opted to halt XRP trading and deposits on the platform effective Jan. dollar.

Bitcoin 233

Bitcoin Taxes New York Report 233

PYMNTS

MAY 8, 2020

Online gambling companies appear to be weathering the pandemic better than their brick-and-mortar cousins, but an environment in which gambling occurs online requires payments to shift as well. This year was expected to be lucrative for online sports betting as it is the first since those regulations were created. experiences.

Online 176

Online Industry New Jersey Pennsylvania 176

PYMNTS

JUNE 9, 2019

Reuters reported Lagarde said that technology companies’ use of big data and AI i ncreases big tech companies’ dominance in the mobile payments market, which could result in policymakers around the world rethinking how they regulate the banking system and how they ensure financial settlements are made safely and securely. “A

Industry 190

Industry Big Data Fintech Taxes 190

PYMNTS

NOVEMBER 19, 2019

The compliance burden of a legal marijuana business having to manage regulations that vary by state, and between the state and federal level, has created a banking conundrum for a market forced to rely heavily on cash.

Company 109

Company Compliance Payments Taxes 109

PYMNTS

JANUARY 2, 2020

The finance ministry in India passed a new regulation saying that companies with sales of more than ?50 50 crores (about $7 million) will have to offer customers electronic payment modes like debit cards, powered by RuPay, according to a report by LiveMint. . The new regulation went into effect on Jan.

Cards 130

Cards blockchain Cyber Security Retail 130

PYMNTS

NOVEMBER 22, 2019

In today’s top payments news, ongoing security concerns have caused the Federal Reserve to take a closer look at the Big Tech firms that serve the banking industry. Security Concerns Prompt Fed To Strengthen Big Tech Oversight. Politicians, as well as privacy advocates, have asked regulators to block the deal.

South Dakota 101

South Dakota Apple Taxes Cards 101

PYMNTS

JULY 26, 2020

“Our charter application incorporates truly novel ideas that have received detailed scrutiny from multiple regulators,” Caitlin Long , CEO and founder of Avanti, said in the release. ” Avanti intends to use Avit, an equivalent to cash that is nicknamed a “stablecoin disruptor,” according to the release.

Wyoming 153

Wyoming cryptocurrency Regulation blockchain 153

PYMNTS

JANUARY 16, 2019

The CBA pilots, as reported by CoinDesk and other sites, were tied to the issuance of letters of credit and securities. The CBA said it will look to include smaller and mid-sized banks on the platform, with eventual additions of tax agencies and customs activities to the platform. IoT Gains Traction With Blockchain.

blockchain 206

blockchain Taxes Security Survey 206

PYMNTS

JUNE 16, 2020

But Kellerman and other security experts advocated at the hearing for legislative measures, such as modernizing anti-money laundering (AML) and forfeiture rules and moving the Secret Service to the Treasury Department, to help combat the threat.

US 227

US Cyber Security Security National 227

PYMNTS

JULY 21, 2020

Groups are an issue, until regulations change and we can put more than 25 to 50 people in one meeting at a time.”. Tisch recommended Congress extend the Paycheck Protection Program (PPP) at least until the end of the year, adjust the tax code, reinstate the business meals deduction and adopt a tax credit for travel.

Taxes 189

Taxes Survey New York Security 189

PYMNTS

NOVEMBER 14, 2019

Increasingly, the gold standard for payments is invisibility. Platforms and payment service providers are seeking digital, integrated payment experiences that are so seamless, neither the payee nor payer take much notice that a transaction has even occurred. Faster Payments Shift the Landscape.

Payments 127

Payments Compliance Taxes Technology 127

PYMNTS

APRIL 1, 2019

Many marketplaces act as go-betweens for firms looking to hire remote or freelance workers by offering time-tracking options to ensure correct payments, payment transfers in various currencies, communication and collaboration options, tax estimates or compliance help, healthcare options and other work-related issues.

Payments 183

Payments Survey Online Company 183

PYMNTS

JANUARY 19, 2017

Geoswift, a provider of cross-border payment solutions between China and the rest of the world, announced Wednesday (Jan. unit, Geoswift UK, has received authorization as a payment institution from the Financial Conduct Authority (FCA). 18) that its U.K. and China.”.

Payments 100

Payments Meeting Taxes Security 100

Abrigo

SEPTEMBER 20, 2023

Given the current economic climate in the United States, it is essential to understand the effect personal financial security has on 1 st -party fraud. Regulators will be expecting this as they examine institutions for FinCEN priority preparedness. The scam here is an inside job, making it inherently more elusive.

Fraud 195

Fraud Trends Cards Software 195

PYMNTS

JANUARY 22, 2020

As for the mechanics: An “account aggregator” system is being created by banks, and will be regulated and licensed by the central bank. The financial companies are also required to have “robust” IT systems in place (which includes IT security, too). The aggregators have duties as fiduciaries to manage consent. The Roadmap.

Data 141

Data Payments Regulation System 141

PYMNTS

MARCH 26, 2018

Complex tax law has been linked to the rise in eInvoicing in B2B commerce, according to Julie Park, managing director of VAT and customs duty at The VAT Consultancy. She pointed to Latin America , which enacted some of the world’s first eInvoicing mandates for the purposes of tax rule enforcement. billion every year.

Taxes 102

Taxes Fraud Compliance Regulation 102

PYMNTS

OCTOBER 23, 2019

Less fully addressed was the fact that among the defectors from the Libra Association are the online marketplaces that would ostensibly underpin commerce done with Libra — including eBay, and payment networks such as Visa and Mastercard. You should create a payments system with close to zero fees,” said Sherman. The Crime Factor.

cryptocurrency 100

cryptocurrency Payments Regulation Taxes 100

PYMNTS

AUGUST 13, 2019

Companies that opt to pay employees in crypto will be able to deduct tax under the country’s pay-as-you-earn income tax scheme. Securities and Exchange Commission ( SEC ) has delayed a decision on approving two bitcoin exchange-traded funds. The ruling excludes the self-employed from earning incomes in digital currencies.

Bitcoin 123

Bitcoin Taxes cryptocurrency blockchain 123

PYMNTS

DECEMBER 12, 2019

continues to take significant steps toward a faster payments ecosystem , the market undoubtedly lags behind others across the world in the path toward real-time payments ubiquity. real-time payments journey in a recent interview with PYMNTS. regulation is both a help and a hinderance. Competition, Not Regulation.

Payments 181

Payments Regulation Marketing National 181

PYMNTS

SEPTEMBER 25, 2019

1595, known as the Secure And Fair Enforcement (SAFE) Banking Act, on Wednesday (Sept. The legislation aims to ensure that state-authorized and regulated cannabis businesses are not forced to operate with cash only. House of Representatives passed H.R.

Ohio 235

Ohio Colorado Washington California 235

PYMNTS

MARCH 18, 2019

Take two announcements from just last week, related to the evolution of faster payments in the U.S. First, there was the Fed’s decision to slow faster payments progress via Same Day ACH because it wasn’t ready to approve another processing window during the day. Okay, so maybe the Fed’s payments folks are just busy.

Payments 201

Payments Cards Operations System 201

PYMNTS

APRIL 3, 2020

Accounts payable (AP) automation technology presents an obvious benefit to companies of all sizes and industries to boost efficiency and strategize vendor payments. A Payments Balancing Act. For LockerDome, Lewis explained that one of the most glaring areas of inefficiencies in AP processes is the supplier payment itself.

Taxes 131

Taxes Compliance Payments Data 131

PYMNTS

SEPTEMBER 30, 2019

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75

Retail 109

Retail Taxes Virginia South Dakota 109

PYMNTS

OCTOBER 10, 2017

Digitization of B2B payments is on the rise, but the trend is challenged by discrepancies across geographic markets, according to the latest World Payments Report by Capgemini and BNP Paribas. But, despite the increased use of digital payments, cash remains king, especially for low-value transactions.

Payments 124

Payments Regional America Trends 124