PYMNTS

FEBRUARY 1, 2021

In today’s top payments news around the world, Grab said it has closed on a loan facility, while Getir announced on social media that it has come to London. German Finance Minister Says OECD Digital Tax Deal Likely By Summer. OECD member states have until this summer to come to a consensus on a tax. London, we’ve arrived!

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social media Taxes Payments Apple 236

PYMNTS

MARCH 10, 2017

Earlier this year, the Treasury Inspector General for Tax Administration reported that there was a reduction in the number of fraudulent tax returns identified between 2013 and 2015. What’s Next In Tax Fraud. As of February, the number of mentions in 2017 so far was already over 40 percent of the 2016 total. But that’s not all.

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PYMNTS

JANUARY 21, 2020

To get a better handle on crypto – and to boost government coffers, perhaps – change the tax designation (and rules, of course). Under rules governing “other income,” a 20 percent rate is levied on 40 percent of total other income; the remaining 60 percent can be tax-deductible. Tax Policy Still Fluid.

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Taxes Policies Capital United States 130

PYMNTS

FEBRUARY 16, 2020

Small and medium-sized businesses (SMBs) in Australia are being reminded by the country’s tax office that owing money to the agency is not OK, Broker News reported Friday (Feb. 13) that SMBs will soon face new risks for holding off on tax payments and using the Australia Tax Office (ATO) “as a bank.”.

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Taxes National Report Capital 134

PYMNTS

APRIL 16, 2019

tax authorities’ approach to small businesses that fall behind on tax payments. Reports in AltFi said Funding Options argued that the approach by HM Revenue and Customs (HMRC) to late tax payments is “too aggressive,” citing the high number of applications HMRC submitted to shutter small businesses.

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PYMNTS

FEBRUARY 18, 2019

The American Institute of CPAs (AICPA) has asked the Internal Revenue Service (IRS) to exclude some small businesses (SMBs) from being treated as tax shelters. The letter went on to explain that an SMB that meets the definition of a syndicate would instead be treated as a tax shelter. the letter stated, according to Accounting Today.

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Bank Innovation

MARCH 31, 2016

Maybe tax season has mobile users worrying about their credit history, or contemplating borrowing some cash? Tax worries seem to already be a thing of the past. Last week Credit Karma passed Chase Mobile to slip into first place on both Android and iOS platforms.

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Taxes Google Mobile America 150

PYMNTS

DECEMBER 7, 2020

Despite a surge in sales, small businesses selling online can struggle to manage working capital, particularly as many rely on third-party marketplaces like Amazon that don't facilitate instant access to revenues. Digital commerce is a capital-intensive business model, he said, and keeping pace with buyer demand puts a strain on finances.

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Bank Innovation

FEBRUARY 18, 2020

billion in costs and reallocates capital away from underperforming units. The top-10 global bank reported Tuesday that in 2019, net profit fell 53% to $6 billion, while pre-tax profits fell 33% to $13.3 […]. HSBC, a global bank with $2.7 trillion in assets, is blazing a new path for its U.S. business as it cuts $4.5

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Strategy US Taxes Capital 243

PYMNTS

FEBRUARY 7, 2019

tax reform led to much chatter and some confusion about exactly how changes would impact the nation’s small businesses (SMBs). Department of Treasury finalized rules that apply to SMBs on qualifying for a 20 percent tax deduction, with the National Federation of Independent Business (NFIB) applauding the initiative. percent rate.

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PYMNTS

JULY 9, 2019

small business lender and commercial card company Capital on Tap is collaborating with accounting software company Receipt Bank to launch the Receipt Bank Card, a commercial card solution for small businesses, according to a press release Monday (July 8).

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Capital Cards Software Taxes 143

PYMNTS

JANUARY 16, 2020

In other news, South Korean cryptocurrency exchange Bithumb is going to court to fight an almost $69 million tax bill from the National Tax Service (NTS), according to a report Thursday (Jan. The tax is called a retention tax, which is an income tax paid to the government by the income payer and not its recipient.

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PYMNTS

NOVEMBER 13, 2020

With nearly $90 million in new funding landing at B2B FinTechs this week, investors showed off a diverse range of focuses, from procure-to-pay to small business payments. Osome connects small and medium-sized businesses to a digital business assistant app to automate accounting, payroll and tax compliance workflows. and Hong Kong.

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PYMNTS

OCTOBER 22, 2018

NCR is expanding further into payments. 22) that it will buy Pennsylvania-based JetPay , “a provider of end-to-end payment processing and human capital management solutions,” according to a statement. Enabling payments as part of our transactions is part of our long-term strategy to create integrated value for our clients.”.

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PYMNTS

JANUARY 30, 2020

Visa ’s fiscal first-quarter results showed an acceleration of cross-border volumes, while contactless payments continued to gain ground in the U.S. The company said that payments volume was up 8 percent year over year to $2.3 The company said that payments volume was up 8 percent year over year to $2.3 and beyond.

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PYMNTS

JULY 31, 2019

Speeding payments along a supply chain has the benefit of helping the smallest firms – the most vulnerable links – thrive via steadier cash flow and easier day-to-day planning. The funding shortfall is significant, he said, in terms of unmet need for capital measured in dollars – to the tune of $1.5

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Payments Capital Data Examples 174

PYMNTS

AUGUST 9, 2019

Corporate foreign exchange brokerage GPS Capital Markets is reportedly up for sale, unnamed sources told PE Hub. GPS Capital Markets, founded by Al Manbeian and Ryan Gibbon, posts between $20 million and $30 million earnings before interest, taxes, depreciation and amortization (EBITDA), one source told the publication.

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PYMNTS

OCTOBER 15, 2020

The release stated this is the first time that "differentiated health, dental and vision benefits will be made available via a payments network." FinTech Mobility Capital Finance (MoCaFi) and Jobble are two of the first companies that will provide workers with healthcare through the partnership, the release stated.

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Tools Taxes Capital Mobile 237

PYMNTS

SEPTEMBER 27, 2019

A summer lull in B2B venture capital appears to have given way to an impressive start to the fall season. This week, two massive deals landed with B2B payments innovators at Fundbox and Tipalti, but they were far from the only players to have secured new funding. Investors at Ice Angles and AngelHQ provided new funding for the company.

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Payments Capital Taxes Lending 149

PYMNTS

FEBRUARY 28, 2020

An entrepreneur who opens a coffee shop or launches a FinTech startup isn’t in business to crunch numbers and file taxes. Yet, the burden of financial management, from tedious data entry to compliance challenges, is a nonnegotiable part of starting a small business (SMB). “In retrospect, it was a big mistake.

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Capital Taxes Software Data 154

PYMNTS

JANUARY 26, 2021

The round, headed up by Sequoia Capital , doubled the company’s total funding to $120 million, the release stated. And, Pilot helps SMBs get tax credits they might have missed out on, according to the release, including a research and development payroll credit that can go up to $250,000.

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PYMNTS

NOVEMBER 12, 2020

It specializes in offering banking services, expense tracking, tax and financial services in one place for freelance workers of all kinds — from accountants to models. And you can actually save up to 60 hours and $1,700 a year just by using all our tools to manage, maximize your deductibles, save on taxes [and] save on fees.”.

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Taxes Capital Tools Groups 254

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. For someone in the U.S.,

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Bitcoin Taxes cryptocurrency Regulation 123

PYMNTS

JULY 29, 2019

In corporate payments, the term “silo” is synonymous with “headache.” Most enterprises … have many disparate systems, ranging from accounting to payroll to banking to taxes, etc.,” But he also pointed to challenges businesses face in making the switch from their manual payment behaviors.

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PYMNTS

AUGUST 5, 2020

4) night after the San Francisco-based financial services company posted better-than-expected quarterly results for its mobile payment app. In addition, he said tax refunds provided the tailwinds that drove momentum in the Cash App. And Square’s gross payments volume in Q2 dipped 15 percent year over year.

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San Francisco Capital Taxes Report 218

PYMNTS

OCTOBER 26, 2018

This week, however, venture capital rounds were all about the small- and medium-sized business (SMBs), and how to address their biggest financial management pain points. raised venture capital for their SMB-facing tools, including global payments, accounting and banking. Businesses across Asia, South Africa, the U.K.

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Fintech Capital Tools Management 192

PYMNTS

NOVEMBER 5, 2019

s tax authority has released cryptocurrency tax guidance for businesses, revealing that crypto assets will still be defined as commodities. That means that companies that participate in trading exchange tokens must make tax payments.

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PYMNTS

NOVEMBER 4, 2019

have resulted in a delay for legislation that is now in draft form, which would include a provision to tax larger tech firms that derive sales from the region. The bill has proposed a 2 percent tax on revenues for firms as diverse as Facebook and Amazon. Looking At First-Time Payments. Separately, but also in the U.K.,

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Taxes Fraud Data Regional 101

PYMNTS

DECEMBER 26, 2019

Stablecoins like Facebook’s Libra could hamper the international development of China’s yuan, leading to fluctuating asset prices and weakened impacts of capital controls, said the People’s Bank of China. Payments Flash-Forward: Why December 2020 Will Be One to Remember. Analyst: Apple Will See 25 Pct Jump in Stock Price Due to 5G.

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Taxes Payments Apple Compliance 131

PYMNTS

DECEMBER 10, 2020

In today’s top payments news around the world, Xoom is now offering clients in the U.S., Plus, HM Treasury is seeking input on the challenges that the sharing economy brings for value-added tax (VAT). 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

SEPTEMBER 15, 2020

And governments have an incentive to foster growth in debit payments because they want to collect tax revenue on cash transactions. But as Poovala noted, “this has worked to our advantage,” as the company has a digital know-your-customer (KYC) process that can find all the tax IDs of shareholders and their percentages of ownership.

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PYMNTS

AUGUST 4, 2019

Gobal investment firm KKR is acquiring a majority in German payments group Heidelpay for more than 600 million euros ($668 million), according to the Financial Times. AnaCap had the upper hand against rival Nordic Capital and EQT from Sweden. AnaCap had the upper hand against rival Nordic Capital and EQT from Sweden.

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Payments Groups Taxes Regional 136

PYMNTS

DECEMBER 30, 2020

As Nick Reid , director of B2B Partner Development at Conferma Pay , told PYMNTS, though not new, STP — which routes card payments and data automatically to suppliers and sidesteps manual processes — is increasingly being combined with virtual cards in a bid to level the playing field in B2B payments.

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Cards Regional Payments Data 262

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. ” .

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Taxes Capital Payments Management 147

PYMNTS

FEBRUARY 20, 2019

19), KyckGlobal said it has rolled out is platform for businesses to strengthen their relationship with 1099 workers by simplifying payouts and boosting transparency in the payment, tax management and document storage process. Workers can also request payment from employers. In a press release Tuesday (Feb.

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Payments blockchain Bitcoin Taxes 129

Bank Innovation

JULY 19, 2018

The largest gains came from the bank’s ownership stake in the payment processing company Worldpay, formerly Vantiv. The sale of five million shares of common stock of Worldpay resulted in a $205 million pre-tax gain. Fintech partnerships paid off for Fifth Third Bank this quarter. of […].

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Fintech Taxes Report Payments 199

PYMNTS

DECEMBER 12, 2018

Urban Eatz in Richardson, Texas, has become the first NCR customer to use JetPay payment processing through its point-of-sale (POS) software. Back in October, NCR announced that it was acquiring Pennsylvania-based JetPay , “a provider of end-to-end payment processing and human capital management solutions.”.

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