News

January, 2025

• 3 January

  The IRS Rings in 2025 With New Reporting Requirements for P2P Networks

  

  The Internal Revenue Service will begin requiring peer-to-peer payment apps in 2025 to issue 1099-K statements to self-employed workers who received more than $5,000 in payments through those apps in 2024. The new requirement, which is being implemented after a two-year delay, applies to such P2P apps as PayPal, Venmo, …
• 3 January

  The Payments Industry Works to Solve for X

  

  The payments industry is heading into the new year with a significant question mark hanging over its head: What does it mean that the massive social network X is apparently planning to launch a payments network? Little is known so far about the initiative. A New Year’s Eve post on …
• 3 January

  LootUpApp’s AI to Ease Crypto Transactions and other Digital Transactions News briefs from 1/3/25

  

  A software company called Quantum International Corp. said it will launch LootUpApp, technology that it says will use artificial intelligence to help simplify cryptocurrency transactions. A specific date for the launch was not announced. The global prepaid card market is forecasted to have an 18.2% compound annual growth rate through 2031, a Verified Markets …
• 2 January

  PAR Technology Buys Delaget for $132 Million and other Digital Transactions News briefs from 1/2/25

  

  PAR Technology Corp., a provider of restaurant point-of-sale technology, has paid $132 million to acquire Delaget LLC, a platform providing analytics and business intelligence to the dining industry. The purchase was chiefly made with PAR common stock. The social-media network X will launch a service this year called X Money, which …
• 1 January

  Payments as a growth strategy – how ISVs can optimize revenue potential with embedded finance

  

   Steven Velasquez, Senior Vice President and Head of Partner Business Development – U.S. Bank | Elavon  As the worlds of technology and financial services converge, the pace of innovation is increasing exponentially. The advent of AI, cloud-based, headless architecture, and ‘everything-as-a-service’ presents a challenge to ISVs looking to adapt to …

December, 2024

• 31 December

  WhatsAppPay Rolls Out in India and other Digital Transactions News briefs from 12/31/24

  

  Meta Platform’s WhatsApp payments service has been permitted by the National Payments Corp. of India, a regulatory body, to roll out WhatsApp Pay to its entire user base of 500 million in that country. Meta formerly was known as Facebook. GasBuddy, which offers a payments card featuring discounts on gasoline, forecasts the …
• 30 December

  iWallet’s Voice-Based AI Ordering and other Digital Transactions News briefs from 12/30/24

  

  A startup called iWallet announced technology it says supports voice-based ordering using artificial intelligence, while also being compliant with the Payment Card Industry data-security standard. Bitget Wallet, a cryptocurrency platform, said it has surpassed 60 million users globally, achieving a 300% growth rate in user count for 2024. Janover Inc., a commercial …
• 27 December

  Optimizing payments and financial services to exceed consumer expectations and maximize revenue

  

  Steven Velasquez, Senior Vice President and Head of Partner Business Development – Elavon, Inc. As payments technology innovation continues to evolve exponentially, today’s consumers expect a seamless, connected, and personalized buying experience. Buyers don’t care about payments per se, but the overall shopping experience. ISOs and ISVs that understand this …
• 27 December

  BNPL To Reach $111.2 Billion in Volume by 2029 and other Digital Transactions News briefs from 12/27/24

  

  The worldwide market for buy now, pay later will grow to a volume of $112.36 billion by 2029, up from $32.89 billion in 2023, representing a compound annual growth rate of 22.5%, according to the “Buy Now Pay Later Platform Market” report from Research and Markets. Challenges the market faces include regulatory …
• 26 December

  FinCEN BOI Back on and other Digital Transactions News briefs from 12/26/24

  

  The FinCEN Beneficial Ownership Information mandate is back in force with a recent court decision. That rule, part of the Corporate Transparency Act passed in 2024,had required businesses to file a Beneficial Ownership Information report by Jan. 1, which was delayed earlier in December but now makes these reports due Jan. 13. Businesses formed …