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SumUp’s primary product is an EMV card reader and a number of online payment and bank account system for merchants and businesses. It has over 18 offices across Europe and America. As of 2022 [update] , SumUp supports more than 3.5 million merchants in over 30 markets worldwide, and operates business tools created specifically for the micro ...
A Universal Payment Identification Code (UPIC) is an identifier (or banking address) for a bank account in the United States used to receive electronic credit payments. [1] A UPIC acts exactly like a US bank account number and protects sensitive banking information.
SUM is an interbank network in forty-two U.S. states (all except Alaska, Alabama, Delaware, Montana, Nebraska, North Dakota, South Dakota, Wyoming), the District of Columbia and Puerto Rico. [1] It is largely made up of smaller local banks and credit unions .
In 2010, the company acquired public-sector-payment company Point & Pay, as well as merchant services technology provider CDI Tech. [1] In January 2011, North announced the launch of Payanywhere, a mobile payment processing tool. The acquisition of payment services company Velocity occurred in 2013. [1]
In January 2009, MasterCard acquired the controlled payment number system developed by Orbiscom, a Dublin-based payment processing company. [2] In the United States, the system is used by the following credit card issuers: Bank of America "ShopSafe" (inherited when it acquired MBNA) (and now discontinued-see below) [3] and Citibank "Virtual Account Numbers". [4]
In an employer–employee arrangement, Forms W-9 and 1099 should not be used. Instead, the corresponding Form W-4 (to provide information) and Form W-2 (to report the amount paid) should be filed instead. [5] However, an employer may still send Form W-9 to have the information on record that the payee does not need to be sent a Form 1099.
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