Receiving international payments is straightforward when both the sender’s and your bank are connected to the SWIFT network, a global messaging system used by over 11,000 banks. However, many smaller banks, fintechs, and regional institutions operate outside this network, which can complicate cross-border transfers. If your bank isn’
Handling prize payments involves more than just calculating who won and how much. Organizers must distribute funds to multiple recipients across different jurisdictions, split prize money between team members, manage currency conversion rates, and comply with tax and regulatory obligations. They also have to meet participants’ expectations for accurate and
Payments feel like a solved problem until the needs of a business expose the limits of a payment provider. At that point, they stop being an invisible utility and start becoming an operational obstacle. As volume and complexity increase, teams are forced into manual workarounds, global payments get more expensive,
Fee collection and dues management present a unique set of challenges for sports clubs and leagues. Solutions for large-scale sports organizations are too expensive and complex. At the same time, manual tracking, chasing payments, and messy spreadsheets take up a disproportionate amount of time. This makes financial management, compliance, and
Thousands of fraud prevention specialists are working long hours to stop financial crime, while fraudsters are putting in just as much or even more work into coming up with new strategies, upgrading hacking tools, and implementing new uses of AI to trick defences. Protecting a business from payment fraud is
Sometimes business payments show up in the payee account almost instantly. Other times, it takes both you and the payee days or even weeks of frustrating financial limbo, with no idea where your transaction got stuck. It may feel like a lottery, but it isn’t. How fast a payment
Every payment your business makes goes through a labyrinth of systems and parties before it reaches the recipient. And after it does, the lifecycle goes on to maintain neat records of every transaction and report them accurately and timely to the tax authorities . Being able to delegate all this work
Payment Labs achieved SOC 2 Type II certification, validating our highest standards of security, availability, and confidentiality. This ensures robust data protection, reliable operations, simplified compliance, and trusted, enterprise-ready payment solutions for organizations worldwide.
Every motorsport has a unique set of rules dictating how the prize money is distributed and the payins are collected. The Indy 500 bases payouts on finishing position, bonuses, and special awards, Formula 1 has a points system, and NASCAR has implemented a sophisticated charter system that even includes the
Payment Labs raises $3.25M led by Aperture VC to scale its global payment platform for sports, esports & creators. Processes 150+ currencies across 180+ countries with built-in compliance. Clients include Microsoft, SEGA, X Games.
“1% of payees trigger IRS backup withholding. Payment Labs automates tax checks & filings so you avoid audits, fines & penalties.”
Easy payment and prize management for fishing tournaments with Payment Labs’ all-in-one solution.