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100+ Payment Industry Terms Explained in Plain English

Clearly Payments

Volume Cap A limit on how much a merchant can process per month. law that caps debit card interchange fees for large banks and encourages routing choice for merchants. system for transferring funds between banks, used for payroll, bill payments, and more. MATCH List A blacklist of merchants banned by Visa/Mastercard.

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This Week in Fintech: TFT Bi-Weekly News Roundup 10/05

The Fintech Times

Previously at Gusto, he served as the companys chief product officer and was responsible for scaling Gustos product platform for payroll, benefits and HR. Cieri will lead and drive software strategy across the BILL platform, reporting directly to CEO and founder, Ren Lacerte.

FinTech 59
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Disrupting Traditional Payroll For A New Economic And Global Normal

PYMNTS

On that list of well understood shortcomings is employee payroll, Ceridian Chairman and CEO David Ossip told Karen Webster in a recent conversation, and the speed and accuracy at which the money people earn is made available for them to spend. Breaking Out Of Payroll’s Past. It’s also given innovators a renewed impetus to improve them.

Payroll 108
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Wells Fargo Says Lift Asset Cap To Helps SMBs

PYMNTS

But to do that, the bank may have to have its asset cap, placed there by law after a fake accounts scandal in 2018, lifted so it can do more to help, according to the Financial Times. They can be forgiven if used for things like payroll, rent or utilities.

Caps 53
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Investors Cap Off 2020 With An Eye On B2B eCommerce, SMB Banking

PYMNTS

To cap off a year in which business travel plummeted, travel and expense management software company Navisteps raised $1 million in pre-seed funding , reports said. In addition to global expansion, the company said it plans to invest in its own infrastructure, reports said.

Caps 84
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Payroll Fraud Could Cost KeyCorp $90M

PYMNTS

The customer involved in the fraud is Interlogic Outsourcing, which processes payrolls and is based in Elkhart, Indiana. percent and the company lost about $178 million from its market cap, dragging it to $17.56 The event occurred in the beginning of Q3. Shares in KeyCorp fell 1.8 billion from $17.735 billion.

Payroll 57
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Hundreds Of Probes Into PPP Loan Fraud Have Been Opened

PYMNTS

Among problems cited by the SBA, according to WSJ, were forged companies getting money; companies getting money even though their payrolls exceeded the 500-worker cap that applied in most instances; and companies getting money even though they were prohibited to do so because of pre-existing debts to the government.