ReportWire

Tag: Payments

  • Lawmakers urged to ‘opt out’ of federal mandates

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    BOSTON — Unions, advocates for low-income workers and other groups urged state lawmakers on Thursday to permanently “opt out” of several new federal laws enacted as part of President Donald Trump’s tax cut and policy bill, warning of the impact on the state’s coffers.

    The Legislature’s Revenue Committee is considering a proposal by Gov. Maura Healey that would delay implementation of what she described as the five “most costliest” changes in federal tax code created by Trump’s One Big Beautiful Bill Act until next year.

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    By Christian M. Wade | Statehouse Reporter

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  • Healey seeks to delay federal tax cuts

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    BOSTON — Democratic Gov. Maura Healey is seeking to blunt the impact to state coffers from changes to the federal tax code under President Donald Trump’s new tax cuts and policy law, but business groups say the move would hurt Massachusetts’ competitiveness.

    Healey has filed legislation that would delay implementation of what she described as the five “most costliest” changes in federal tax code created by Trump’s One Big Beautiful Bill Act until next year.

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    By Christian M. Wade | Statehouse Reporter

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  • Fare gates go live at South Station for commuter rail passengers

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    Commuter rail passengers will need to tap or scan their train tickets to enter the track area at South Station as the MBTA begins a major change in fare collection operations.

    The T and its commuter rail operator, Keolis Commuter Services, announced Monday that installation of fare gates at the Boston transportation hub is complete and gates will be phased into operations. The T also released a how-to video and said station staff will be available on concourses to help passengers.

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    By Michael P. Norton | State House News

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  • AUSTRAC Warns Payment Providers over Child Abuse Payments

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    The Australian Transaction Reports and Analysis Centre (AUSTRAC) announced that it has warned online payment providers over recent suspicions of payments for child sexual exploitation. The body has therefore asked payment companies to tighten their controls and remain vigilant.

    AUSTRAC Identified Risky Payments

    In a letter to the online payment platforms sector, the AUSTRAC explained that its regulatory operations team discovered “a number of customers suspected to be making payments for child sexual exploitation.”

    The discovery came as part of a recent supervisory campaign seeking to detect child sexual exploitation activities among the customer base of certain payment providers.

    The AUSTRAC elaborated that the team identified other issues too, including low suspicious matter reporting, poor transaction monitoring and failures to identify and address higher-risk customers.  

    As a result of the investigation, the AUSTRAC asked WorldRemit to appoint an external auditor. At the same time, it also sent a letter of concern to five businesses, while continuing to investigate several others.

    The Failures Are Inexcusable, AUSTRAC Says  

    Brendan Thomas, AUSTRAC’s chief executive officer, commented on the discoveries, saying that some payments, unfortunately, were likely tied to exploitation.

    The team conducted their own transaction monitoring simulation, identifying suspicious customer behaviour and transfers that were very likely payments for child sexual exploitation.

    Brendan Thomas, CEO, AUSTRAC

    Thomas noted that the suspicious client accounts should have been closed immediately due to the severe risk they posed. The accounts in question have now been referred to the Australian Border Force and law enforcement.

    Thomas added that the payment providers’ failure to identify some of these risky accounts is inexcusable.

    Failure to effectively monitor for suspicious transactions and to submit timely reports means we miss out on critical intelligence our customs and border, and law enforcement agencies can use to catch the offenders and other criminals.

    Brendan Thomas, CEO, AUSTRAC

    The AUSTRAC noted that there are 90 payment platforms operating in Australia, 50 of which are also registered as remitters. All of these businesses are required to comply with Australia’s AML and CTF laws.

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    Fiona Simmons

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  • Visa leans into AI-enabled payments and stablecoins to stay ahead of the game, says Asia-Pacific president Stephen Karpin | Fortune

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    Societies are shifting away from cash, and embracing new ways to make payments and transfer money. In Asia, many have turned to e-wallets, QR codes, and super apps—skipping physical credit cards entirely. 

    Traditional card companies are reinventing themselves to stay ahead of the game. “These days, when people talk about ‘cards’, it’s not just a piece of plastic. It’s a digital network proposition where you can pay or be paid,” Stephen Karpin, Visa’s Asia-Pacific president, told Fortune on Tuesday.

    On Wednesday, on the sidelines of the Singapore FinTech Festival, Visa revealed two new features for its regional clientele: AI-enabled payments and stablecoin settlements.

    The first marks the company’s expansion into agentic commerce, where consumers across Asia can tap on AI-powered agents to shop and pay on their behalf. 

    OpenAI’s release of ChatGPT catalyzed a fundamental shift in commerce, Karpin said. “The breadth with which it’s transforming how one understands and finds things in the world is quite profound. Yet one of the things missing from the current state of a LLM-powered chatbot is the ability to make payment via an agent,” he said.

    This means that online shoppers can use AI chatbots to discover, browse and select items—but can’t yet use them to complete payments. 

    Customers can load their Visa cards on an agent system—just as they might with Apple or Google Pay. They are then given the option to opt in for ‘personalization’, to receive recommendations of “intelligent shopping decisions” based on their past preferences.

    Users are then prompted to make payment within the AI platform—securely, with tokenization and authentication—completing an end-to-end online shopping process. 

    Stablecoins

    The second initiative is Visa’s stable settlement pilot, which enables select partners to pay using stablecoins across supported blockchains. Stablecoins are digital currencies designed to have a stable value, by pegging them to less volatile assets such as fiat currencies, most commonly the U.S. dollar).

    Karpin said that Visa had recognized the value of blockchain technology for payments since the time first emerged a decade ago. Today, more cross-border transactions than ever are taking place via stablecoins.

    “​​We want to make [stablecoins] one of the options to make and receive payments all around the world, when the regulatory environment is ready,” Karpin added. “We’ve got some assets in the form of technology and capability, and want to help businesses large and small start conducting commerce in Web3.”

    Asia’s shifting payments space

    Karpin has worked at Visa for over a decade, cutting his teeth in the South Pacific, Southeast Asian, and Japanese markets—before becoming the firm’s Asia-Pacific president in 2023.

    Things are shifting in Asia’s payments space, he said, noting that more change has happened in the last five years as compared to the previous fifty.

    Super apps—single apps consolidating multiple services like ride-hailing, food delivery and digital payments—is one such disruptor, he said. 

    They first took off in mainland China, with the founding of Alipay in 2004 and WeChat Pay in 2013. Southeast Asian tech giant Grab followed suit, launching GrabPay in 2016.

    But instead of regarding super apps and e-wallets as competition, Visa is looking for ways to work with them.

    “You can live your life on a super app now, so we’re partnering with them to digitalize the Visa credential,” Karpin said.

    He cited Visa’s partnership with Taiwan’s Line Pay as an example, which allows Taiwanese users to travel abroad and pay by scanning any QR codes connected to the Visa network.

    Visa is also widely accepted in global destinations beyond Asia, making it easier for long-distance travelers to make seamless payments overseas.

    “[When traveling further abroad], you can’t use a super app with a QR. We’re partnering with e-wallets so you can use your phone to tap to get onto the New York subway, or buy lunch in London,” Karpin said.

    Visa is the world’s second-largest card payment organization based on the annual value of card payments transacted and the number of issued cards, after being surpassed by China’s UnionPay in 2015. Yet Visa, No. 127 on the Fortune 500, leads in global transaction volume.

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    Angelica Ang

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  • Why McDonald’s Is Rounding Up On Cash Payments

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    McDonald’s told CBS News they’ll be taking on a rounding method when it comes to customers paying in cash.

    Reason being? The US Mint in Philadelphia pressed its last penny on Wednesday, leaving McDonald’s and other stores to figure out how to deal with the fallout

    Order totals will be rounded to the nearest five cents. So if a customer’s order totals $10.17, they’ll pay $10.15. But if instead it comes out to $10.18, they’ll be asked to pay $10.20. 

    Other chains are curving more to the customer’s advantage. 

    GoTo Foods, the parent company of Auntie Anne’s, Cinnabon, Jamba, and Carvel said that it’s “recommending that franchisees round cash transactions in the guest’s favor.” 

    Wendy’s and Midwestern convenience chain Kwik Trip are hopping on a similar train.

    “We have given guidance to our restaurants to round cash transactions down to the nearest nickel if they are experiencing penny shortages,” Wendy’s said. Kwik Trip said the same.

    The practice of rounding cash payments isn’t brand new. Countries like Canada, Australia and New Zealand have been implementing variations of the method since their own lower value coins were eradicated.

    Kroger is still holding out hope that customers will be able to pay their amounts down to the cent. 

    “We kindly ask customers to consider providing exact change,” the restaurant told CBS News

    Giant Eagle, based in Pennsylvania, had an ahead-of-the-game approach. The supermarket hosted an event on November 1 encouraging customers to trade in pennies for gift cards worth twice as much. The minimum exchange amount was 50 cents and the maximum was $100, which would translate to a $200 gift card.

    “This proactive step allows the company to maintain accuracy and fairness while it awaits formal guidance from the US government regarding future rounding practices,” Giant Eagle said. 

    Sheetz had a similar idea. The chain offered a promotion where customers could earn a free drink for $1.00 in pennies. Still, Sheetz said it prefers cashless payments. 

    All stores seem to be awaiting federal guidance on how they should proceed with the penny pinch. 

    The early-rate deadline for the 2026 Inc. Regionals Awards is Friday, November 14, at 11:59 p.m. PT. Apply now.

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    Ava Levinson

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  • Supreme Court Extends Its Order Blocking Full SNAP Payments, With Shutdown Potentially Near An End – KXL

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    (AP) – The Supreme Court on Tuesday extended an order blocking full SNAP payments, amid signals that the government shutdown could soon end and food aid payments resume.

    The order keeps in place at least for a few more days a chaotic situation. People who depend on the Supplemental Nutrition Assistance Program to feed their families in some states have received their full monthly allocations, while others have received nothing.

    The Senate has approved a bill to end the shutdown and the House of Representatives could vote on it as early as Wednesday. Reopening the government would restart the program that helps 42 million Americans buy groceries, but it’s not clear how quickly full payments would resume.

    The justices chose what is effectively the path of least resistance, anticipating the shutdown will end soon while avoiding any substantive legal ruling about whether lower court orders to keep full payments flowing during the shutdown are correct.

    THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

    It’s up to the U.S. Supreme Court and Congress to decide when full payments will resume under the SNAP food aid program that helps 1 in 8 Americans buy groceries, as some wonder how they will feed their families without government assistance.

    The Supreme Court is expected to rule Tuesday on a request from President Donald Trump’s administration to keep blocking states from providing full Supplemental Nutrition Assistance Program benefits, arguing the money might be needed elsewhere.

    The legal wrangling could be moot if the U.S. House adopts and Trump signs legislation to quickly end the federal government shutdown.

    The seesawing rulings mean that beneficiaries in some states have received their full monthly allocations while in others they have received nothing. Some states have issued partial payments.

    How quickly SNAP benefits could reach recipients if the government reopens or the Supreme Court orders full payments would vary by state. But states and advocates say that it’s easier to make full payments quickly than partial ones.

    Carolyn Vega, a policy analyst at the advocacy group Share Our Strength, also said there could be some technical challenges for states that have issued partial benefits to send out the remaining amount.

    An urgent need for beneficiaries
    In Pennsylvania, full November benefits went out to some people on Friday. But Jim Malliard, 41, of Franklin, said he had not received anything by Monday.

    Malliard is a full-time caretaker for his wife, who is blind and has had several strokes this year, and his teenage daughter, who suffered severe medical complications from surgery last year.

    That stress has only been compounded by the pause in the $350 monthly SNAP payment he previously received for himself, his wife and daughter. He said he is down to $10 in his account and is relying on what’s left in the pantry — mostly rice and ramen.

    “It’s kind of been a lot of late nights, making sure I had everything down to the penny to make sure I was right,” Malliard said. “To say anxiety has been my issue for the past two weeks is putting it mildly.”

    The political wrangling in Washington has shocked many Americans, and some have been moved to help.

    “I figure that I’ve spent money on dumber stuff than trying to feed other people during a manufactured famine,” said Ashley Oxenford, a teacher who set out a “little food pantry” in her front yard this week for vulnerable neighbors in Carthage, New York.

    SNAP has been the center of an intense fight in court
    The Trump administration chose to cut off SNAP funding after October due to the shutdown. That decision sparked lawsuits and a string of swift and contradictory judicial rulings that deal with government power — and impact food access for some 42 million Americans.

    The administration went along with two rulings on Oct. 31 by judges who said the government must provide at least partial funding for SNAP. It eventually said recipients would get up to 65% of their regular benefits. But it balked last week when one of the judges said it must fund the program fully for November, even if that means digging into funds the government said need to be maintained in case of emergencies elsewhere.

    The U.S. Supreme Court agreed to pause that order.

    An appeals court said Monday that full funding should resume, and that requirement is set to kick in Tuesday night unless the top court takes action again.

    Congressional talks about reopening government
    The U.S. Senate on Monday passed legislation to reopen the federal government with a plan that would include replenishing SNAP funds. Speaker Mike Johnson told members of the House to return to Washington to consider the deal a small group of Senate Democrats made with Republicans.

    Trump has not said whether he would sign it if it reaches his desk, but told reporters at the White House on Sunday that it “looks like we’re getting close to the shutdown ending.”

    Still, the Trump administration said in a Supreme Court filing Monday that it shouldn’t be up to the courts.

    “The answer to this crisis is not for federal courts to reallocate resources without lawful authority,” Solicitor General D. John Sauer said in the papers. “The only way to end this crisis — which the Executive is adamant to end — is for Congress to reopen the government.”

    The coalition of cities and nonprofit groups who challenged the SNAP pause said in a court filing Tuesday that the Department of Agriculture, which administers SNAP, is to blame for the confusion.

    “The chaos was sown by USDA’s delays and intransigence,” they said, “not by the district court’s efforts to mitigate that chaos and the harm it has inflicted on families who need food.”

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    Jordan Vawter

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  • Exclusive: Airwallex crosses $1 billion in annualized revenue as fintech unicorn takes on U.S. competitors like Ramp and Stripe | Fortune

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    As the fintech sector comes roaring back, companies like Ramp and Stripe have dominated headlines with eye-popping funding rounds and rapid growth. But the Singapore-based Airwallex is not far behind, crossing $1 billion in annualized revenue as of October with a year-over-year growth rate of 90%, according to cofounder and CEO Jack Zhang. 

    In an interview with Fortune, Zhang said that his company, known for cross-border payments and foreign exchange, has diversified its product suite into a slew of other offerings, including business banking accounts and spend management, putting it directly in competition with not only Ramp and Stripe, but also Mercury, Brex, Revolut and a who’s who of fintech giants. “We’re competing with too many people,” Zhang joked. 

    Airwallex still lacks the name recognition of its rivals, at least in the U.S., but that could soon change as the company accelerates its push into North America and Europe. Founded in 2015, it took nine years for Airwallex to reach its first $500 million in annualized revenue, but only one more year for that to double to $1 billion. With gross profit margins above 60%, according to Zhang, Airwallex is quickly becoming a formidable player in the U.S. The company was last valued at $6 billion in a May funding round, compared to Ramp’s last valuation of $22.5 billion and Stripe’s $106 billion. 

    After achieving cash flow positivity at the end of 2023, Airwallex decided to re-invest in the business but is on target to reach profitability once again in the fourth quarter of 2025, a spokesperson told Fortune.

    “A lot of the reason we’ve succeeded is we’re an outsider,” Zhang said. “We’re not part of the Silicon Valley ecosystem.” 

    From Melbourne to San Francisco

    Many fintech companies focus on one key product, often using it as a wedge to expand further into a company’s financial suite. For Ramp, it was corporate credit cards; for Mercury, business bank accounts; and for Stripe, payment processing.

    Founded in Melbourne, Airwallex later moved to the Asian finance hub of Singapore after launching in the country in early 2022. Zhang said that his company has had to be globally focused from day one, given Australia’s relatively small market. While its initial focus was cross-border payments, Zhang said the company’s revenue is now spread over an array of products, with business accounts similar to Mercury comprising 34% of its revenue, spend management 20%, and payments 30%. Airwallex also offers its global network of licenses and services to other fintech companies through API integrations, such as facilitating Brex, Rippling, and Deel’s international expansions. “Our real moat is the infrastructure, both on the regulatory side and on the financial services side, that we built over the last decade,” Zhang said. 

    As Airwallex pushes into North America, including opening a U.S. headquarters in San Francisco last year, Zhang admits that he won’t compete with a company like Ramp on U.S. focused customers. Airwallex’s focus, instead, is on companies that want a global presence and need to be able to issue employee cards, open bank accounts, and pay merchants across dozens of jurisdictions. Zhang said that North America and Europe now comprise close to 40% of the company’s revenue after sitting at zero just a few years ago. 

    “If you’re a U.S. company and you only have operations in Ohio, you better go with Ramp,” Zhang said. “But if you’re a U.S. company that wants to sell in Australia, wants to sell in Singapore, wants to sell in the U.K., wants to sell in Canada, wants to do that efficiently, and wants to have banking, payments, spend, and treasury management all in a single platform, that’s where Airwallex comes in.”

    Like for most other companies, AI is top of mind for Airwallex, with Zhang working on a wallet product that he says will serve as foundational infrastructure for global agentic payments. He says that he wants the AI agents business to scale to a “few $100 million” before he considers going public. 

    The company has also hired stablecoin developers, another buzzy area of fintech, though he remains skeptical that blockchain can solve global money movement better than existing options. “The merchant adoption is still very low and there’s nothing happening on the B2B [business-to-business] side,” he said. “I’m 99% skeptical, 1% probability.”   

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    Leo Schwartz

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  • Report: Mass. cities, towns face ‘historic’ fiscal crisis

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    BOSTON — Massachusetts cities and towns are facing a “historic fiscal crisis” amid rising operating costs, lackluster state aid and restraints on property tax increases, according to a new report.

    The “Perfect Storm” report, released by the Massachusetts Municipal Association, found that while state government spending has increased by an average of 2.8% per year since 2010 to meet its needs, restraints on local revenue sources – including Proposition 2 1⁄2 – have held city and town spending to just 0.6% per year.


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    By Christian M. Wade | Statehouse Reporter

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  • HotelRunner and Visa Partner Globally to Power Embedded and Autonomous Finance in Travel

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    Uniting the strength of Visa’s trusted infrastructure with HotelRunner’s deep presence in hospitality, this strategic preferred partnership sets the foundation for a new era of embedded finance in travel. By bringing Visa’s products directly into HotelRunner’s platform, this collaboration will enable seamless, secure, and scalable cross-border payments and settlements for thousands of travel businesses worldwide.

    HotelRunner, a leading travel and hospitality technology platform, and Visa, a global leader in digital payments, have announced a global strategic preferred partnership to empower businesses of all sizes across the travel and hospitality industry. The collaboration brings together Visa’s trusted global infrastructure and secure cross-border payments capabilities with HotelRunner’s deep presence and extensive reach in hospitality technology. Solving the “last-mile” challenge in tourism and democratizing financial access for small and medium-sized enterprises (SMEs) in emerging markets, HotelRunner is collaborating with Visa to provide robust technology infrastructure and B2B connectivity that enables accommodation providers, from boutique hotels in Morocco to guesthouses in Bali, to get paid quickly and securely across borders.

    By uniting their strengths, the two companies aim to accelerate economic growth across the global travel and hospitality ecosystem while delivering seamless, secure, and scalable financial solutions. This partnership sets the foundation for a new era of embedded finance with a specific focus on independent hotels by providing access to global payment rails.

    “Travel runs on trust, and trust depends on secure, reliable infrastructure,” said Ali Beklen, Founder and Managing Partner of HotelRunner. “By combining HotelRunner’s global hospitality network with Visa’s unmatched expertise, we are building the autonomous financial infrastructure of travel. This is not only about payments; it is about building the financial rails that will power the next decade of global tourism. We are reshaping the future of cross-border travel commerce, making it safer, smarter, and more inclusive for businesses worldwide.”

    On this partnership, Arden Agopyan, Founder and Managing Partner of HotelRunner, said, “HotelRunner has spent more than a decade building the digital backbone of hospitality. For too long, small and independent accommodations and travel agencies have been excluded from global financial flows and the payments economy. Together with Visa, we’re changing that. We’re combining our reach and reliable platform with one of the world’s most trusted networks to create a new standard for autonomous, secure, seamless, and scalable travel payments.”

    “Our collaboration with HotelRunner demonstrates how together we can drive innovation across the B2B travel ecosystem. By combining Visa’s trusted global payments network with HotelRunner’s hospitality platform, we’re enabling travel businesses to connect, transact, and grow more seamlessly and securely. Together, we’re helping to unlock new opportunities, and strengthen the global travel ecosystem” Tania Platt, Global Head of B2B Travel, Visa.

    Operating globally, this collaboration will bring Visa and HotelRunner together with key travel companies in Europe, APAC, the Middle East, Africa, and beyond. This partnership is set to deliver innovative embedded and autonomous finance services supporting millions of travel businesses worldwide.

    Source: HotelRunner

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  • Checkout.com’s new $12B valuation is a glass half-full situation   | TechCrunch

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    Fintech Checkout.com announced on Friday that it reached a $12 billion valuation as part of an employee stock buyback program. 

    On the one hand, very few startups ever achieve decacorn status, so $12 billion is nothing to sneeze at. It’s a valuable enough company to have landed its founder and CEO Guillaume Pousaz on Forbes’ billionaire list.

    On the other, there was a short period of time when Checkout.com was valued at a whopping $40 billion, as part of its $1 billion Series D round closed in 2022. By the end of that year, with the venture world crashing into a bear market, it had already internally slashed its valuation to $11 billion. And then it lowered its valuation again, to $9.35 billion in 2023, a company spokesperson told TechCrunch.

    So $12 billion represents a nearly 30% increase from its previous valuation.

    But this valuation isn’t being obtained because an investor is plunking down cash. The company is the only one buying employee shares back, with no other investors involved in a tender offer, the spokesperson tells us. Instead, the valuation comes from a 409A valuation, the person said. That’s an assessment made by an independent third-party. It’s not the same as a vote of confidence from a professional investor, but it’s also not simply the company giving itself a bump.

    In fairness, Checkout.com’s archrival Stripe also had its own valuation setback during the same venture capital bear market, crashing from $95 billion at the height of the froth in 2021, to $50 billion during the doldrums in 2023. Stripe has since clawed its way back to $91.5 billion as of February through its own series of employee tender offers. Stripe, however, did have outside investors helping to value it. And, Stripe is rumored to be working on yet another tender offer at a $106.7 billion valuation, Axios just reported.  

    Yet just because Checkout.com is competing against one of the most highly valued startups of all time, doesn’t minimize its own business achievements. 

    The London-based payments company, which is a popular choice among large e-commerce sites like eBay and Pinterest, said it was starting to be profitable by the end of 2024 and is on track for a full year of profitability in 2025. Checkout.com says it processes about $1 billion worth of e-commerce payments a day and hired 300 more employees this year, bringing headcount to 2,000 people across 19 global offices. 

    Checkout.com also tells TechCrunch that employees with tenure of at least a year will be eligible for the buyback program, but declined to indicate the size of the buyback, either in total spend or number of shares.

    Note: This story was updated with more information about the previous valuation.

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    Julie Bort

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  • Why Flexible Payment Systems Are Now a Business Essential | Entrepreneur

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    Opinions expressed by Entrepreneur contributors are their own.

    The right payment solution can accelerate growth, while the wrong one can stunt it. For small businesses, nonprofits and even large enterprises, how quickly and reliably money moves through the organization shapes everything from day-to-day operations to long-term strategy.

    Business leaders must regularly evaluate whether their payment solutions can keep pace with evolving demands or risk falling behind.

    Cash flow is the lifeblood of any organization. Whether it’s a small business handling seasonal fluctuations, a nonprofit managing through a grant cycle or a large corporation coordinating purchases across multiple departments, the ability to effectively manage incoming and outgoing funds is fundamental.

    Payment delays, mismatched billing cycles and inflexible payment terms can all create unnecessary strain, limiting a business’s ability to invest in new opportunities or respond to unexpected challenges.

    Related: Slow Payment Options Are Costing Your Business — Here’s the Alternatives of the Future

    Breaking free from operational bottlenecks

    Research reveals the operational realities business decision-makers face. According to a Morning Consult survey commissioned by Walmart Business, nearly 500 small business leaders reported spending approximately 40% of their workweek on administrative tasks.

    A significant portion of this time is devoted to managing spending, cash flow and reconciliation—activities that, while essential, can detract from core business functions such as serving customers, innovating and pursuing growth opportunities.

    For resource-strapped organizations, every minute spent on manual bookkeeping or chasing receipts is time lost driving the business forward. Yet many still rely on traditional payment processes that are rigid, slow and misaligned with their workflows, adding to the administrative burden. Today’s payment solutions must go beyond processing transactions to actively reduce operational friction.

    Related: Struggling with Finances? These Payment Solutions Will Save You

    Seamless systems, stronger performance

    Beyond cash flow, integrating payment solutions into everyday business operations can have a significant impact on efficiency. Traditional payment methods such as checks or manual invoices often require multiple steps for approval, reconciliation and record-keeping. Each additional step introduces the potential for errors, delays and increased administrative overhead.

    Organizations must consider how payment solutions fit into their unique workflows. No two organizations are alike; purchasing needs, approval hierarchies and accounting practices can vary widely depending on the industry, size and structure of the business. Solutions that are too rigid or too generic will fail to meet the specific requirements of a given organization, leading to workarounds that undermine efficiency and accuracy.

    Modern payment solutions are built for integration. When payment options are embedded into the purchasing experience — whether that’s through an online portal, a mobile app or in-store systems — organizations benefit from a seamless workflow that minimizes manual intervention.

    Features such as automated invoicing, real-time reporting and centralized record-keeping simplify the reconciliation process and make it easier for business leaders to monitor spending, comply with internal controls and generate accurate financial reports.

    Putting integration into action: Pay by invoice

    Flexible payment solutions, particularly those that offer extended terms or credit lines, can provide organizations with vital breathing room. By allowing businesses to defer payment on purchases — sometimes for 30 days or more — these solutions support better cash flow management and allow leaders to allocate their time and resources strategically. This flexibility can be especially impactful during uncertain economic times or periods of growth, when upfront investments may be required before additional revenue is realized.

    At Walmart Business, we recognized this need and recently introduced Pay by Invoice, powered by TreviPay. This offer enables eligible customers to access a business line of credit from TreviPay with 30-day net terms, allowing them to make critical purchases when needed and defer payment to better align with their revenue cycles.

    Such flexibility is no longer a luxury; it’s an expectation among business customers who must navigate complex, multi-location operations and fluctuating cash flows.

    The demand for Pay by Invoice is rooted in the desire for streamlined financial operations. By offering consolidated, detailed invoices, the solution simplifies expense tracking and reporting, making it easier for organizations to maintain oversight and accountability.

    The decision to fully integrate the use of Pay by Invoice into the Walmart Business experience across online, app and in-store channels was intentional, so customers benefit from a seamless, frictionless purchasing and payment process wherever they choose to shop.

    Related: What Sparked the Push for Flexible Pay?

    Looking ahead at the future of business payments

    As organizations continue to seek ways to operate more efficiently and adapt to changing economic conditions, the significance of flexible payment solutions will only grow. The broader trend toward digitization, automation and integration is transforming not only how businesses purchase goods and services, but how they manage finances, assess performance and make strategic decisions.

    For business leaders, understanding the available payment options and evaluating them through the lens of their organization’s unique needs is critical. Solutions that provide flexibility, transparency and integration can help remove operational barriers, improve cash flow and set the stage for sustained growth. Payment processes are no longer a back-office concern; they are a strategic lever for business success and future growth.

    The right payment solution can accelerate growth, while the wrong one can stunt it. For small businesses, nonprofits and even large enterprises, how quickly and reliably money moves through the organization shapes everything from day-to-day operations to long-term strategy.

    Business leaders must regularly evaluate whether their payment solutions can keep pace with evolving demands or risk falling behind.

    Cash flow is the lifeblood of any organization. Whether it’s a small business handling seasonal fluctuations, a nonprofit managing through a grant cycle or a large corporation coordinating purchases across multiple departments, the ability to effectively manage incoming and outgoing funds is fundamental.

    The rest of this article is locked.

    Join Entrepreneur+ today for access.

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    Ashley Hubka

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  • Essex hosting town-wide yard sale

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    ESSEX — Bargain hunters and yard sale enthusiasts can search Essex for treasures in Essex this weekend.

    Organizers of a townwide sale — from 8 a.m. to 4 p.m. Sept. 13 — invite all to roam through the town on the river, searching for treasures galore at more than 40 homes.


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  • Report: Mass. taxpayers to get big tax cut in 2026

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    BOSTON — Massachusetts taxpayers will receive a big break next year under President Donald Trump’s recently enacted spending package, according to a new report.

    The Tax Foundation, a nonpartisan Washington-based think tank, estimates that Bay Staters will see their taxes cut by an average of $5,139 in 2026 under Trump’s so-called One Big Beautiful Bill – the third-largest reduction in the nation following Wyoming and Washington state.


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    By Christian M. Wade | Statehouse Reporter

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  • Former Allen properties to be auctioned

    Former Allen properties to be auctioned

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    ESSEX — The town of Essex will auction off this month four Southern Avenue properties formerly owned by the estate of William Allen.

    The auction is scheduled for noon Thursday, Oct. 24, at noon at Town Hall, 30 Martin St. Bidder registration will be held before the event, from 11:30 a.m. to noon.

    Zekos Group Auctioneers of Shrewsbury will conduct the auction.

    The properties represent four contiguous land parcels from 5-10 Southern Ave., adjacent to Eastern Avenue and Main Street in Essex. The offering stipulates the four parcels will be sold together and make up nearly 1 acre.

    “The site offers extensive frontage, public water and sewer and is ideally located for a multitude of uses near the intersection of Main Street and Eastern Avenue,” reads the listing on the Zekos Group website.

    “The parcels are improved with a single-family home, what appears to be a mixed-use dwelling and a barn-style warehouse, all in disrepair.”

    Essex is involved in the sale because of the years of taxes that were not paid, Town Administrator Brendhan Zubricki said.

    “The town got the properties through a tax taking since the estate of William Allen was in arrears for many years on property taxes,” Zubricki said. “It is a very complex and lengthy process and it has taken years to get to the auction stage with the Allen property.

    “The town will receive the proceeds of the auction and the property will hopefully be redeveloped to eliminate a blighted area. Also, the new owner will hopefully pay taxes on a regular basis and improve the property which will actually increase overall taxation in the town as new growth.”

    Regarding the anticipated earnings to be made by Essex from the auction, Zubricki said that “remains to be seen on auction day.”

    Participation in the auction includes making a $10,000 certified bank check deposit, with an additional $10,000 deposit required from the high bidder within 24 hours. Checks are payable to the “Town of Essex.”

    The bidding process requires a 30-day closing period, according to the Zekos Group website.

    The properties to be auctioned are parcel 136-113.1, 136-113, 136-112 and 136-111. According to Patriot Properties Inc., the appraisal value for three of the parcels range from $361,500 to $389,800

    The three largest parcels to be auctioned are located in the town’s Mixed-Use Zoning District, which permits commercial and residential uses, according to the listing.

    “(This is) an excellent development opportunity for (an) investor or builder,” the website reads.

    According to Allen’s obituary in the Times, the Essex native died May 11, 2015, in Gloucester after a long battle with melanoma.

    He was born in Essex in 1929 at the family farm on Choate Street. He started Bill’s Trucking Co. on Southern Avenue and worked and lived there until he died in 2015.

    Allen, the son of the late James G. and Edith (Perkins) Allen, left 11 children, along with many nieces, nephews, grandchildren and great-grandchildren. He was the last surviving member of his siblings, which included George, John, Frank, Arthur “Al” and a sister, Jean (Jenkins).

    Stephen Hagan may be contacted at 978-675-2708, or shagan@gloucestertimes.com.

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    By Stephen Hagan | Staff Writer

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  • Auditor: No tax rebates issued this year

    Auditor: No tax rebates issued this year

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    It’s official: Massachusetts’ taxpayers won’t be getting a break this year from a decades-old tax rebate law, the state’s fiscal watchdog says.

    State Auditor Diana DiZoglio said a review by her office has determined that the net state tax revenues of more than $39 billion in fiscal 2023 were below the allowable amount of $44.4 billion, “resulting in no excess state tax revenues.”

    The auditor’s report is based on data from the state Department of Revenue, which also concluded that taxpayers won’t be getting any extra refunds this year.

    In 2022, the state returned $3 billion to more than 3.6 million taxpayers under the voter-approved Chapter 62F law, which requires Massachusetts to refund money when tax revenues grow by more than wages and salaries.

    But lawmakers approved changes to the law as part of a $1 billion tax relief package, signed by Gov. Maura Healey in October, that exempted collections from the new “millionaires tax” – which sets a 4% surtax on incomes above $1 million – from the calculation.

    In the previous year, the state collected nearly $2.2 billion from the tax, according to the report.

    Last year, DiZoglio’s office determined that the net state tax revenues of nearly $37 billion in fiscal 2023 were below the allowable amount of $41.4 billion, which was also below the threshold to trigger the rebate law.

    The Chapter 62F law was overwhelmingly approved by voters in 1986. Besides 2022, the rebate law had only been triggered once since it was approved – in fiscal 1987 – when the state’s actual revenues exceeded allowable revenues by nearly $30 million.

    As part of the tax relief plan, lawmakers also tweaked the Chapter 62F law to require that any future rebates be paid out “equally” among taxpayers, and married taxpayers who file a joint return with the federal government must also file a joint state return.

    That change was prompted by concerns raised by liberal groups that “loopholes” in state law would allow wealthy households to skirt the “millionaires tax”.

    Christian M. Wade covers the Massachusetts Statehouse for North of Boston Media Group’s newspapers and websites. Email him at cwade@cnhinews.com.

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    By Christian M. Wade | Statehouse Reporter

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  • Former owner of popular sandwich shop pleads guilty to tax fraud

    Former owner of popular sandwich shop pleads guilty to tax fraud

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    SALEM — The former owner of Red’s Sandwich Shop in Salem has pleaded guilty to tax fraud after failing to pay more than $1.5 million in state meals taxes and causing employment tax losses of more than $400,000, according to the U.S. Attorney’s Office.

    John Drivas, 66, who lives in Hampton, New Hampshire, pleaded guilty in federal court on Sept. 6 to five counts of failure to collect and pay employment taxes owed to the IRS and four counts of wire fraud for state meals taxes he collected from restaurant customers but failed to pay over to the Massachusetts Department of Revenue.

    The offenses took place over a six-year period between January 2016 and October 2022 at Red’s Sandwich Shop and two other restaurants owned and operated by Drivas — Red’s Kitchen and Tavern in Peabody and Red’s Seabrook in Seabrook, New Hampshire.

    Drivas was the sole shareholder of the Salem restaurant until he sold it to an employee in September 2022. He was the 100% owner of the Peabody restaurant with his wife, and the 52% owner of the Seabrook restaurant with his children.

    U.S. District Judge Julia Kobick scheduled sentencing for Dec. 5. The charge of failure to pay taxes carries a maximum potential sentence of five years in prison and a fine of $250,000 or twice the gross gain or loss and restitution. Each wire fraud charge is punishable by up to 20 years in prison.

    According to the U.S. Attorney’s Office, Drivas collected more than $1.5 million in state meals taxes paid by restaurant customers that he failed to pay over to the state as required by law. In Massachusetts, all owners and operators of restaurants and bars are required to collect 6.25% sales taxes on meals. Salem and Peabody also require restaurants and bar to collect an additional 0.75% local option meals excise tax.

    Although Drivas collected the taxes from customers, he intentionally withheld $1,596,775 of those taxes from monthly reports and payments owed to the state Department of Revenue.

    Drivas also paid wages to numerous employees of the restaurants partly by payroll checks and partly in cash. He did not report the cash wages to the IRS or pay employment taxes on them, causing employment tax losses of $439,341. Federal tax law requires employers to withhold from any employee wages an amount for income taxes and other amounts for Social Security and Medicare taxes.

    Drivas’ guilty plea was announced by the U.S. Attorney’s Office, Internal Revenue Service Criminal Investigation Boston Field Office, and the Insurance Fraud Bureau of Massachusetts.

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    By News Staff

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  • Klarna CEO Aims to Cut Half of Workforce, Give AI the Work | Entrepreneur

    Klarna CEO Aims to Cut Half of Workforce, Give AI the Work | Entrepreneur

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    Nearly half of the employees currently working at “buy now, pay later” startup Klarna could be replaced by AI in the next few years.

    Klarna CEO Sebastian Siemiatkowski told The Financial Times last week that the company aims to almost halve its workforce within the next few years, from 3,800 people to 2,000. Instead of layoffs, the company will continue its hiring freeze that started in September and not hire replacements for people who leave the company.

    “By simply not hiring, which we haven’t done since September … the company is kind of becoming smaller and smaller,” Siemiatkowski stated. He pointed out that the average revenue per Klarna employee had increased by 73% year-over-year.

    The remaining employees will have AI to help with tasks, Siemiatkowski said.

    Related: There Are New Rules for ‘Buy Now, Pay Later’ Programs — Here’s What to Know

    “Not only can we do more with less, but we can do much more with less,” he told the Financial Times.

    Klarna’s employees numbered 5,000 one year ago, but departing employees and the AI-induced hiring freeze have cut the company down to its current size.

    Sebastian Siemiatkowski. Photo by David M. Benett/Dave Benett/Getty Images for Klarna

    Klarna claimed in February that its AI assistant did work equivalent to 700 full-time, human customer service agents. The AI assistant brought down customer inquiries to two minutes, compared to the previous 11-minute average conversation needed with human agents.

    Related: Klarna Says Its AI Assistant Does the Work of 700 People. The Company Laid Off the Same Number of Employees 2 Years Ago.

    Siemiatkowski wrote in a now-deleted post on X in May that Klarna’s in-house marketing team was half the size it was last year, but was producing more with AI and spent $6 million less.

    Klarna’s second-quarter earnings report for 2024 showed its third consecutive quarter of growth in the U.S., with revenue and operating income up 17% and 21% year-over-year respectively.

    Klarna is reportedly exploring a U.S. IPO at a valuation of $20 billion.

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    Sherin Shibu

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  • Transactions: BNY, CBA join for cross-border near real-time payments | Bank Automation News

    Transactions: BNY, CBA join for cross-border near real-time payments | Bank Automation News

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    BNY has joined forces with Commonwealth Bank of Australian to provide its customers with near real-time payments for cross-border transactions. 

    By working with CBA, BNY customers can make and receive payments in about 60 seconds, an Aug. 22 BNY release stated.

    (Courtesy/BNY)

    BNY will connect its existing international payments services network to CBA’s New Payments Platform to make transactions faster in the last stretch of the payments lifecycle, the release stated. 

    There are 90 real-time payments networks across the globe, Carl Slabicki, co-head of global payments at BNY Treasury Services, said during an Aug. 13 roundtable hosted by the $30 billion financial institution.  

    And 80% of businesses plan to increase their cross-border payments in the next one to two years, according to BNY’s Emerging Payment Trends research shared at that event. 

    BNY aims to serve as the connector for as many global networks as possible — Australia’s New Payments Platform and U.K.’s Faster Payments, for example — to facilitate quicker and secure payments, Slabicki said.   

    “We can now build that into our capability to say that we can clear [payments] in 100-plus currencies, and we can move money all over the world and in the markets that allow it,” he said. 

    Edward Jones selects U.S. Bank to provide banking services 

    Wealth management provider Edward Jones has selected U.S. Bank to provide its customers with checking, saving accounts and credit solutions, according to an Aug. 22 release. 

    “U.S. Bank has a longstanding relationship with Edward Jones, including maintaining its credit card program,” Arijit Roy, head of consumer and business banking products at U.S. Bank, told Bank Automation News. “Given Edward Jones’ footprint, with more than 15,000 branch offices in the U.S., this partnership will extend our geographic reach beyond our 26-state branch network.” 

    The strategic alliance allows Edward Jones to deeply integrate customers into its ecosystem while U.S. Bank can increase its deposit base and grow customer acquisition, Roy said. 

    Edward Jones entered into an agreement with Citi in August 2023 to provide the same services to its Edward Jones’ clients but Citi backed out of the deal, declining to provide details to BAN. 

    Surety Bank selects Apiture for digital banking 

    DeLand, Fla.-based Surety Bank has selected fintech Apiture to improve its digital and mobile banking, according to an Aug. 22 Apiture release. 

    Apiture will deliver the Apiture Digital Banking Platform to Surety Bank via APIs and will include features like online account openings, money transfers and checking balances, Jennifer Dimenna, Apiture’s senior vice president of product, told BAN. 

    Apiture’s API infrastructure also allows it to provide Surety Bank with services from more than 200 fintech partners, including a family banking and financial literacy tool from Greenlight and a real-time fraud detection solution from DefenseStorm, Dimenna said. 

    “We’re seeing strong demand [for digital banking tools] from both community and regional banks and credit unions as they seek to level the playing field with the largest banks,” Dimenna said. “Consumers and businesses are fueling this demand, expecting the same modern, personalized and intuitive experience in banking as they encounter in other digital experiences.” 

    Digital account opening and financial wellness capabilities that enable consumers to manage spending and monitor their credit score as well as instant payment services like Zelle are some of the most sought-after digital banking services, Dimenna said. 

    It will take Apiture six to nine months to bring Surety Bank onboard, and the bank is expected to be live on the platform by the end of October 2024, Dimenna said. 

    Adyen joins forces with InvoiceASAP for B2B payments 

    Global payments service provider Adyen has joined forces with invoicing and B2B payments provider InvoiceASAP to offer its customers the ability to generate and pay invoices from a single platform, according to Adyen’s Aug. 21 release. 

    The Adyen for Platform solution and Adyen’s Cash Out feature will allow customers to make payments and instantly access funds, reducing the multiday waiting period, the release stated. 

    The solutions will be provided via API and will include a fraud detection and prevention solution powered by network-wide insights and machine learning technology, an Adyen spokesperson told BAN. 

    “Businesses are always on the lookout for faster and more efficient ways to move money,” Davi Strazza, president of Adyen North America, told BAN. Adyen’s instant payments are one of the main selling points for InvoiceASAP and a growing trend that Adyen is seeing with current and prospective customers, he said. 

    Visit Bank Automation News’ Transactions Dashboard, which lists the technology selected or acquired by companies in the financial services industry, with a focus on technology that enhances automation.   

    Early-bird registration is now available for the inaugural Bank Automation Summit Europe in Frankfurt, Germany, on Oct. 7-8! Discover the latest advancements in AI and automation in banking. Register here and apply to speak here.  

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    Vaidik Trivedi

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  • FedNow nears onboarding of 1,000 financial institutions | Bank Automation News

    FedNow nears onboarding of 1,000 financial institutions | Bank Automation News

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    ATLANTA — Instant payments rail FedNow is nearing the addition of its 1,000th financial institution, and the Federal Reserve credits the growing adoption to its network of fintechs that enable the integration.   The Fed launched FedNow in July 2023 with 35 financial institutions.   “We’re seeing a lot of interest,” Bernadette Ksepka, vice president […]

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    Whitney McDonald

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