Compliance & Security
How to handle backup withholding for your payees to avoid an IRS audit
“1% of payees trigger IRS backup withholding. Payment Labs automates tax checks & filings so you avoid audits, fines & penalties.”
Compliance & Security
Compliance & Security
Unlocking Growth and Security: The Crucial Role of KYC/KYB in Modern Business Transactions
In today’s fast-paced and interconnected business landscape, making payments and conducting transactions with contractors and partners is more seamless than ever before.
Compliance & Security
What is an FBO Account?
In the ever-evolving landscape of financial technology, businesses, especially small and medium-sized enterprises (SMBs), are seeking efficient ways to make payments.
Compliance & Security
Navigating the Complex World of Prize Pool Payouts
In the fiercely competitive world of sports, athletes devote countless hours to perfecting their skills, dreaming of that moment of triumph on a global stage.
Compliance & Security
Prize Payments Solves Complex Esports Prize Payments Problems
LOS ANGELES, Aug. 13, 2019 – Launching today, Prize Payments brings a streamlined, efficient and economical solution to the esports prize payment process.
Compliance & Security
Prize Payments announce Tom Clancy’s Rainbow Six® Siege Nordics Championship as first live payment
Los Angeles, CA, 14 January – Prize Payments today announced their first live payments for Ubisoft’s Tom Clancy’s Rainbow Six® Siege Nordics Championship.
Compliance & Security
Prize Payments Crosses Million-Dollar Mark With Improved Platform
LOS ANGELES, CA, September 24, 2020 – Prize Payments, the leading payment solution for esports and gaming, today announces they have paid out $1.5MM in prize money.
Business
Why do you need my bank information?
After spending countless hours preparing for a tournament and finally securing a big win, it can seem unnecessary to have to provide banking information to get paid.
Business
The gig economy is exploding – how can payments keep up with the services it demands?
The digital marketplace has radically shifted the economy – 35% of U.S. workers are involved in the on-demand gig economy.
Compliance & Security
Traditional paychecks are becoming as obsolete as DVDs
The days of receiving paychecks in the mail are over. The digital marketplace has altered the workforce and upended traditional payroll structures.
Compliance & Security
From Esports to a Global Player, Payment Labs Thrived in 2022
Payment Labs was born to solve a problem. How can esports competitors get paid on time, compliantly, and with transparency?
Compliance & Security
New Taxes on Digital Transactions Show Why Compliance is King
Digital wallet platforms have become ubiquitous over the last decade, even making their way into our everyday language.