Payments News

On The Web

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GM Takes Aim at Carvana, Vroom With Used-Car Website

“The market for selling used cars online has exploded during the pandemic. Now, General Motors Co. wants to help its dealers secure a bigger piece. The Detroit auto maker is launching a new website called CarBravo that will help U.S.-based GM dealers market and sell used cars online, competing directly with Carvana Co. and other […]
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U.S. to Spend $10 Billion to Boost Small Businesses

“The U.S. is planning to hand out $10 billion to help upstart companies gain access to capital in a bid to rev up business in disadvantaged communities and spur a broader economic recovery from the pandemic. The State Small Business Credit Initiative will direct money to states, territories and tribal governments for programs that provide […]
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Venmo, PayPal and Zelle Must Report $600+ in Transactions to IRS

“As of Jan. 1, mobile payment apps like Venmo, PayPal, Zelle and Cash App are required to report commercial transactions totaling more than $600 per year to the Internal Revenue Service. The change to the tax code was signed into law as part of the American Rescue Plan Act, the Covid-19 response bill passed in […]
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Lawmakers Begin Talks on Another Round of Coronavirus Relief for Businesses

“Democratic and Republican lawmakers have held early discussions about another round of coronavirus stimulus spending as they seek to blunt the fast-spreading omicron variant and its threats to public health and economic recovery.  The efforts have focused primarily on authorizing billions of dollars to help an array of businesses — including restaurants, performance venues, gyms […]

On The Wires

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Nuvei Partners With Wix to Process Payments

“Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the global payment technology partner of thriving brands, today announced a partnership with Wix (Nasdaq: WIX), a leading global SaaS platform to create, manage and grow an online presence to facilitate payment processing for Wix merchants in North America. This integration will deliver fast, seamless and […]
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Mastercard Advances B2B Payments Solution With BMO and Moneris Partnerships

“Today, Mastercard announced new partnerships with BMO and Moneris Solutions Corporation (‘Moneris’), who have joined Mastercard Track™ Business Payment Service . This unique Mastercard solution, available to Canadian business customers in early 2022, is designed to help buyer and supplier partners tackle the systemic challenges of business-to-business (B2B) payments – one of the first open-loop […]
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The Future of the Point of Sale Is Here: Visa Pioneers Cloud-based Payment Acceptance

“Today Visa (NYSE: V) announced a new platform, Visa Acceptance Cloud (VAC), set to revolutionize the way businesses accept payments from their customers. Following the success of the company’s popular “Tap to Phone” solution, VAC will let acquirers, payment service providers, point of sale (POS) manufacturers, and Internet of Things (IoT) players move payment processing […]
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Cubic Transportation Systems to Provide Next-Generation Fare Payment Technology to Port Authority of New York and New Jersey

“Cubic Corporation announced today that its Cubic Transportation Systems (CTS) business division was awarded a second contract from the Port Authority of New York and New Jersey to continue providing and updating Port Authority Trans-Hudson’s (PATH’s) next-generation fare payment system. The investment will bring the next generation of contactless fare payment and collection technology, allowing […]
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Coupa to Offer HSBC Virtual Cards to European Businesses

“Coupa Software (NASDAQ: COUP ), a leader in Business Spend Management, today announced a strategic collaboration with HSBC under its Coupa Pay offering. Commencing with virtual cards, the collaboration will provide European companies with access to a fast, seamless, and secure way to manage payments as part of their comprehensive Business Spend Management strategy. The […]