Fedwire and CHIPS – All You Need to Know about Large Transactions in the US

Fedwire and CHIPS (Clearing House Interbank Payments System) are both cornerstone parts of the local payment rail system of the USA.

How correspondent banking works and how to reduce cross-border payment costs

You send a wire transfer to a supplier. Your bank charges you a fee and estimates it will take three business days. The payment arrives late, and your supplier says they received less than you sent. This is a common experience with international transfers. But it’s not all up

How to receive an international payment if my bank isn't connected to SWIFT

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’

How prize payments work and how to get them right - an organizer’s guide

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

Generic vs specialized payment infrastructure for global and non-standard business models

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,

How to optimize fee collection for sports leagues and events

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

Payment fraud prevention, protection, and detection - all you need to know

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

How money moves through the U.S. payment rails and how FBO accounts speed transactions up

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

Choosing a payout platform for domestic and cross-border payments

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 Achieves SOC 2 Type II Certification – What It Means for Your Business

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.

Everything you need to know to manage payments in motorsports

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

Fintech startup Payment Labs raises $3.25 million seed round to power payments in sports, creator economy, esports, and more

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.

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.”

Payments

How to manage entry fees, prize payouts, and other payments for a fishing tournament

Easy payment and prize management for fishing tournaments with Payment Labs’ all-in-one solution.

Sports Industry Veteran Paul Brewer Joins Payment Labs

Payment Labs names sports industry veteran Paul Brewer as EVP of Sales & Sports Partnerships. The 20-year industry veteran from Rival and ESL will drive expansion of the fintech's automated payment platform for sports organizations navigating the evolving NIL landscape.

Live Support: Now also available via WhatsApp!

Payment Labs has transformed its customer support landscape with the introduction of Live Support via WhatsApp, bringing real-time assistance directly to users through Meta's familiar messaging platform.

Introducing Live Support via iMessage!

Payment Labs has transformed its customer support landscape with the introduction of Live Support via iMessage, bringing real-time assistance directly to payees through Apple's familiar messaging platform.

Payments

The New Era of College Athletics: Student Athletes' Buying Potential

The NCAA revenue sharing & NIL estimates for 2025 are staggering. Think about $1.6 billion suddenly flowing directly to student athletes.

Interview

Payment Labs Featured on The Daily CTO — The Power of Asking the Right Questions

Ronak Desai, CTO of Payment Labs, was interviewed by The Daily CTO on innovating in the payments industry.

Esports

Payment Labs Featured on Esports Insider: Esports Prize Pools Are They Declining, and Why Are There Payment Issues?

Han Park, CEO of Payment Labs, recently sat down with Esports Insider for an article and podcast on the topic of the esports payment dilemma.

Payments

How to Minimize KYC/KYB and AML Risks for 501(c)(3) and 501(c)(6) Nonprofits

In this article, we’ll focus on AML and KYC risks and advice for 501(c)(3) and 501(c)(6) nonprofits.

Payments

The Solution For NCAA Revenue Share Payments

The Payment Labs platform is made to solve the unique use case of paying student athletes, and is the best solution for NCAA revenue share payments.

Taxes

How to Avoid IRS Penalties When Filing 1099s and 1042s for Your Business

Everything you need to know to understand 1099 and 1042 forms and their use cases. 

Payments

Guide to 1099 Compliance for Work with Athletes, Agencies, and Collectives

Let’s say your organization pays hundreds of esports competition participants and contractors around the globe. This means you must file 1099 forms for all the non-employee people and organizations who get more than $600 in total from you during a year.  1099 noncompliance can cost your business significant penalties