Law and Regulation

Heeding years-long requests from merchants for a solution to simplify sales-tax compliance, Stripe Inc. on Thursday introduced Stripe Tax, an application that allows merchants to automatically calculate and collect sales tax, value-added tax (VAT), and goods-and-services tax (GST) in the United States and more than 30 other countries. Spurring the need …

Soon, there might be just two states that prohibit credit card surcharging with the passage Tuesday of a bill in Colorado that would permit the pricing strategy. The bill, SB21-091, passed both the Colorado House and Senate and now moves to Governor Jared Polis’s desk. He has 30 days to …

Point-of-sale developer SpotOn introduced SpotOn Sidekick, a handheld POS-acceptance device designed specifically for food trucks, pop-up dining, cafes, and other mobile food kitchens. Pricing was not disclosed.Visa Inc. said banking giant Goldman Sachs will deploy Visa’s B2B Connect and Visa Direct Payouts platforms to speed cross-border business-to-consumer and business-to-business payments for Goldman client …

From a merchant perspective, one of the most harmful features of today’s card networks is default pricing. One merchant advocate succinctly described the anti-competitive impact of default pricing, stating, “with default pricing, banks have no incentive to compete for merchants’ business.”  Today, individual merchants are forced to face off against …

Less than a month after Paysafe Group Holdings Ltd. announced processing online gambling transactions will become a primary focus for the company, the strategy is quickly paying dividends as the processor has expanded its relationship with Golden Nugget Online Gaming Inc. to Michigan. The deal is an outgrowth of online-gambling …

Paysafe Group Holdings Ltd. said Thursday it is launching in the U.S. market a digital version of its Visa-branded Skrill prepaid card. A Web version is available now, while an app that works with Paysafe’s Skrill wallet coming later this year. As with physical version of the card, the virtual …

Certegy Payment Solutions LLC added a white-label version of its buy now, pay later service that enables merchants to add their own branded BNPL option.Buy now, pay later specialist Quadpay Inc. said its inaugural “Quadpay Fest” sale, which offered deals to users over a four-day period, saw 40% of purchases on average made …

The Diem cryptocurrency, once known as Libra, has undergone so much change in the past year that some observers at least might argue it’s almost an entirely different project. The latest development emerged late Wednesday with the announcement that the Diem Association is moving its operations from Switzerland to the …

Pressure may be building on the Federal Reserve to take action on a debit card interchange-fee regulation that it has left intact for 10 years despite sweeping changes in the payments business, including an onrush of e-commerce transactions over the past year. In part, observers are reacting to a report …

Flywire Corp. said users of its education payment service can now use Discover and Diners Club International cards to pay tuition and fees at educational institutions served by Flywire.The chief executives of 21 banks plus Fiserv Inc. and Jack Henry & Associates signed a letter committing their organizations to real-time bill …