by Ariful | Aug 26, 2026 | US Updates
TITLE: Backup Withholding on Third-Party Network Transactions: What International Sellers Must Know
The IRS and Treasury have finalized new backup withholding regulations for third-party network transactions. The change matters if your UK or international business receives US-related ecommerce payments through platforms such as PayPal, Venmo, or similar payment networks.
The rules restore the $20,000 and 200-transaction thresholds for many third-party settlement organizations. However, the lookback rule can still trigger withholding from your first payment of the following year.
Act now: understand the rule change
Treasury Decision 10053, titled Backup Withholding on Third Party Network Transactions, adopts the January 2026 proposed regulations without change.
The final rule was filed on 7 August 2026 and published in the Federal Register on 10 August 2026. It became effective on 10 August 2026.
The regulations apply to payments made in calendar years beginning after 31 December 2024. This means they apply to payments made from 2025 onwards.
The rules reflect changes made by the One Big Beautiful Bill Act to Internal Revenue Code Section 3406.
Check both thresholds before withholding starts
A third-party settlement organisation, or TPSO, generally does not need to apply backup withholding to third-party network payments unless both conditions are met during the calendar year:
- Gross reportable payments to the payee exceed $20,000.
- The number of reportable transactions exceeds 200.
These are the same thresholds now used for Form 1099-K reporting for third-party network transactions.
The conditions are cumulative. Crossing only one threshold does not normally activate the de minimis rule for that year.
However, the timing of the trigger is important.
Withhold from the transaction that crosses the threshold
The platform must apply backup withholding to:
- The entire transaction that causes the payee to exceed the relevant threshold later in time.
- Every subsequent transaction paid to that payee during the same calendar year.
This is not limited to the amount above $20,000. The entire triggering payment can be subject to withholding.
Federal Register Example 1
The final regulations provide this example:
- Platform A makes 201 payments to a payee during 2026.
- The payments total $20,000.01.
- The payee has not supplied the required taxpayer identification number.
- The 201st payment causes the transaction count to exceed 200 and the payment total to exceed $20,000.
Platform A must apply backup withholding to the entire 201st transaction and to later transactions during 2026.
This example assumes the payee is otherwise subject to backup withholding. A properly documented foreign payee may be treated differently, as explained below.
Do not miss the lookback rule
The most important operational point is the preceding-year lookback rule.
If one or more payments to the payee were reportable third-party network payments in the preceding calendar year, the de minimis exception does not apply in the current year.
As a result, backup withholding can apply from the first payment of the current year, even if the payee has fewer than 200 transactions and receives less than $20,000.
Federal Register Example 2
The regulations provide the following example:
- In 2026, the platform made reportable payments to the payee.
- In 2027, the platform makes 199 payments totalling $18,000.
- The 2027 payments are below both thresholds.
Backup withholding still applies to each 2027 payment because the platform made reportable payments to the payee during 2026.
This creates a year-to-year compliance link. You must review the previous year’s platform reporting status before assuming that the current year’s totals are below the threshold.
Apply the correct rate: 24% is backup withholding
The backup withholding rate under Section 3406 is a flat 24%.
For example, if a payment platform processes a $1,000 payment that is subject to backup withholding, it may withhold $240 and pay the remaining $760, subject to the platform’s treatment and reporting process.
Backup withholding is generally a prepayment of federal income tax. If it is shown on your information return, you may generally claim it as federal income tax withheld on the relevant tax return.
The IRS confirms the 24% rate in Topic No. 307, Backup Withholding.
Give foreign-status documentation to the platform
International sellers should not automatically complete Form W-9.
A foreign individual will generally provide Form W-8BEN. A foreign company or other foreign entity will generally provide Form W-8BEN-E when requested by the payment platform or withholding agent.
These forms document non-US status. Where the platform can rely on valid documentation and the applicable payment rules are satisfied, the payee may not be treated as a US person for Form 1099-K and backup withholding purposes.
The IRS states that:
Keep the documentation current. Review it when your legal entity, address, ownership, tax status, or payment arrangements change. Missing, expired, incomplete, or invalid documentation can cause a platform to apply the wrong withholding treatment.
Separate 24% backup withholding from 30% foreign withholding
Do not confuse backup withholding with chapter 3 or chapter 4 withholding.
- Backup withholding: generally 24%, usually connected with US payee identification and certification issues.
- Foreign-person withholding: commonly 30% on certain US-source fixed or determinable annual or periodical income, unless a treaty or another exception reduces the rate.
The 30% rate is not the backup withholding rate.
A valid W-8 form documents foreign status. It does not automatically eliminate every possible US withholding obligation. The payment type, source, entity status, treaty position, and platform classification still matter.
For that reason, review your platform account classification and withholding statements together. Do not rely only on the percentage shown on a payment statement.
Continue reporting all income
The absence of Form 1099-K does not make income non-taxable.
The preamble to T.D. 10053 expressly confirms that the taxability of income and your obligation to report income are not determined by:
- Whether you receive Form 1099-K.
- Whether the platform files Form 1099-K.
- Whether backup withholding applies.
- Whether your payments remain below the reporting thresholds.
You must continue recording and reporting your gross business income under the rules applicable to your entity and activities.
The thresholds are reporting and withholding rules. They are not a tax-free allowance.
Work through these international seller examples
UK Amazon FBA seller
Suppose a UK limited company sells through Amazon and receives payments through a US payment network. The business uses a US warehouse and may also work
by Ariful | Aug 25, 2026 | EU VAT Updates
TITLE: Key Tax and Super Deadlines: TPAR, SGC and Payday Super Updates for Australian Businesses
As at Tuesday, 25 August 2026, Australian businesses have two immediate compliance checks before the end of the week:
- Lodge your 2025–26 Taxable Payments Annual Report (TPAR), or submit a non-lodgment advice, by 28 August 2026.
- If June-quarter super was late, lodge and pay the Superannuation Guarantee Charge (SGC) by 28 August 2026.
- Prepare your payroll process for Payday Super, which applies to qualifying earnings from 1 July 2026.
- Distinguish between enacted MIT capital-loss ordering rules and draft AMIT-related Tranche 2 measures.
This update applies across Australia, including businesses operating in Sydney, Melbourne, Brisbane, Perth, Adelaide and Canberra, as well as international sellers with Australian entities, contractors, employees or investment structures.
ATO position today: no new media release identified
Our review of the ATO’s publicly available news and media pages did not identify a new ATO media release dated 25 August 2026.
The deadlines below are based on existing official ATO requirements and published guidance. The managed fund development now needs to be split accurately between enacted MIT loss-ordering rules and separate draft Tranche 2 measures that remain subject to consultation outcomes.
1. Lodge your 2025–26 TPAR by 28 August
Check contractor payments before Friday
Your business may need to lodge a Taxable Payments Annual Report if it paid contractors for relevant services during the year ended 30 June 2026.
The main TPAR service categories are:
- Building and construction.
- Cleaning.
- Courier and road freight.
- Information technology.
- Security, investigation or surveillance.
For many businesses, the relevant services must represent a significant part of the business’s income. The ATO commonly refers to the 10% income threshold when determining whether the TPAR obligation applies.
This can affect digital businesses, agencies, software companies and growing SMEs that use IT contractors. It can also affect businesses that outsource courier, fulfilment, cleaning or security functions.
Payments must generally have been made during the 2025–26 financial year. An invoice that remained unpaid at 30 June may not belong in that year’s TPAR.
Submit a non-lodgment advice if no TPAR is required
If the ATO expects a TPAR but your business does not need to lodge one for 2025–26, submit a TPAR non-lodgment advice by 28 August 2026.
This may apply where:
- You did not pay contractors for reportable services.
- Reportable services were not a significant part of your business income.
- You stopped paying contractors and no longer expect to lodge TPARs in future years.
Submitting the advice helps close the reporting expectation and can reduce unnecessary ATO follow-up.
Use electronic lodgment only
The ATO no longer accepts paper TPAR lodgments. Submit the report electronically through:
- Online services for business.
- SBR-enabled accounting software.
- Online services for agents if your registered agent lodges for you.
A non-lodgment advice must also be submitted electronically through the appropriate ATO service.
Understand the new contractor pre-fill effect
For tax time 2026, TPAR information will be used to pre-fill income for contractors in the relevant industries.
This creates an important reconciliation point:
- Your business reports payments made to the contractor.
- The ATO uses the reported data for contractor pre-fill.
- The contractor checks the pre-filled amount against their own records.
Most TPAR data becomes available after businesses lodge their reports. Contractors who lodge tax returns in July or early August may not yet see all TPAR information. They must still check their own records and include all relevant income.
Accurate TPAR reporting helps reduce mismatches, amendments and possible refund repayment issues.
Official ATO sources: TPAR overview, lodge your TPAR, and TPAR non-lodgment advice.
2. Check June-quarter super before the 28 August SGC deadline
Separate the 28 July fund deadline from the 28 August SGC deadline
The June quarter covered 1 April to 30 June 2026. Ordinary super contributions for that quarter were required to reach employees’ super funds by 28 July 2026.
If the required super did not reach the fund by that date, you generally need to:
- Lodge a Superannuation Guarantee Charge statement – quarterly.
- Pay the SGC to the ATO by 28 August 2026.
The 28 August deadline is therefore not an extension for paying ordinary June-quarter super into the fund. It is the deadline for reporting and paying the charge where the original super payment deadline was missed.
Do not assume a late contribution fixes the June quarter
For the June 2026 quarter, the ATO has confirmed that the late payment offset is not available. A late contribution cannot simply be used to reduce the SGC in the usual way.
Contributions received on or after 29 July 2026 may instead be dealt with under the new Payday Super framework. Review the payment date, fund receipt date and employee earnings period carefully before finalising the SGC statement.
This is particularly important if payroll teams in Sydney, Melbourne or Brisbane processed payments close to the transition date, or if international payroll providers were involved.
3. Implement Payday Super from 1 July 2026
Calculate 12% of qualifying earnings
From 1 July 2026, Payday Super requires employers to calculate super at 12% of qualifying earnings.
Qualifying earnings can include:
- Ordinary time earnings.
- Commissions.
- Salary sacrifice contributions.
- Other amounts previously included in salary or wages for super guarantee purposes.
Super contributions must generally be received by the employee’s fund within seven business days of each payday.
The change requires more than a payroll rate update. You should also check:
- Payroll software settings.
- Pay-cycle dates.
- Super clearing-house processing times.
- Fund receipt confirmations.
- Single Touch Payroll reporting.
- Reconciliation between payroll, bank payments and super records.
A contribution leaving your bank account is not the same as a contribution being received by the employee’s fund. Build in processing time to avoid late payment exposure.
by Ariful | Aug 25, 2026 | US Updates
TITLE: 2026 US Tax Rules for International Sellers: 1099-K, Remittance Tax, and Form 5472 Updates
If you sell into the US from the UK or another country, several 2026 rules require immediate attention.
The federal Form 1099-K threshold has reverted. A new 1% remittance transfer tax applies to certain physical-money transfers. Foreign-owned US LLCs must also maintain accurate Form 5472 and foreign tax identification number records.
This daily update explains what has changed and what you should do next.
1. Form 1099-K threshold returns to $20,000 and 200 transactions
The One, Big, Beautiful Bill retroactively reinstated the previous federal threshold for third-party settlement organisations (TPSOs).
For 2026, a TPSO generally must issue Form 1099-K when both conditions apply:
- Gross reportable payments exceed $20,000.
- The number of reportable transactions exceeds 200.
This applies to many marketplace and payment network transactions, including certain Amazon, PayPal and other platform payments.
The IRS confirmed this position in Fact Sheet FS-2025-08 and its Form 1099-K FAQs.
Payment card transactions follow a different rule
Do not apply the $20,000 and 200-transaction test to payment card transactions.
Credit and debit card payments remain reportable for any amount. There is no federal minimum threshold or de minimis exception for payment card transactions.
This means a Shopify seller could receive a Form 1099-K for card payments even when the total is below $20,000.
State reporting may still use a $600 threshold
The federal threshold does not override state reporting rules. Some states continue to require reporting at much lower levels, including $600 thresholds.
Examples commonly relevant to international sellers include:
- Maryland
- Massachusetts
- Vermont
- Virginia
- Montana
- North Carolina
- District of Columbia
State requirements can change independently. A seller may therefore receive a Form 1099-K for state reporting even when the federal TPSO threshold is not met.
Example: UK Amazon seller below the federal threshold
Suppose your UK business sells $18,500 through a US marketplace in 240 transactions.
You may not receive a federal Form 1099-K because your gross payments do not exceed $20,000. However:
- The income is still taxable and must be included in your records.
- A state may apply a lower reporting threshold.
- Marketplace and payment statements must still be reconciled to your bookkeeping.
- Refunds, returns, fees and sales tax collections must be separated from gross revenue.
No Form 1099-K does not mean no reporting obligation. You must report all business income, whether or not a form is issued.
2. The 1% remittance transfer tax now applies to certain physical transfers
The IRS issued proposed regulations on 10 April 2026 under IR-2026-48.
The new tax applies from 1 January 2026 to certain remittances sent from the US to a foreign country.
The key point is the payment method. The tax applies when the sender provides a physical instrument such as:
- Cash
- A money order
- A cashier’s check
- A traveller’s check
- A similar physical instrument
The sender is legally liable for the tax. Remittance transfer providers must generally collect it, make semimonthly deposits and report it quarterly on Form 720.
The first semimonthly deposits were due on 29 January 2026. Notice 2025-55 provides limited relief from failure-to-deposit penalties for providers during the first three quarters of 2026.
Routine electronic transfers may be treated differently
Do not assume that every transfer from a US business bank account is subject to the 1% tax.
The proposed rules focus on covered remittance transfers where the sender provides cash or a similar physical instrument to the provider. The treatment of bank transfers, cards and checks can differ, so you should retain the payment method and provider records for every cross-border transfer.
Example: repatriating profits from a US entity
A US LLC owned by a UK company sends $50,000 to the UK through a remittance provider. If the sender uses a cashier’s check or cash, the potential tax is:
The sender remains liable, even though the provider normally collects the amount.
Record the transfer separately from ordinary operating expenses, owner distributions and intercompany payments. This will help you determine whether the transfer falls within the final rules and support your reporting position.
3. Form 5472 enforcement remains a major risk for foreign-owned US LLCs
A foreign-owned US disregarded entity can be treated as a reporting corporation for Form 5472 purposes.
Generally, the entity must file Form 5472 with a pro forma Form 1120 when it has reportable transactions with its foreign owner or another related party.
Common reportable activity can include:
- Capital contributions
- Distributions
- Loans and repayments
- Payments to or from a foreign owner
- Related-party service charges
- Inventory or platform arrangements
- Formation, acquisition or dissolution transactions
A business does not avoid the filing requirement simply because it has no US income tax liability.
Understand the Form 5472 penalties
The IRS instructions provide for:
- $25,000 for each failure to file a complete and correct Form 5472 on time.
- An additional $25,000 for each 30-day period, or part of a period, when the failure continues more than 90 days after IRS notification.
- No maximum limit on continuation penalties.
- Separate exposure for different related parties and reporting corporations in applicable circumstances.
The IRS Form 5472 instructions also confirm that a substantially incomplete form can be treated as a failure to file.
An IRS notice should be treated as urgent. Responding quickly can help prevent the continuation penalty from increasing.
Example: foreign-owned Amazon FBA LLC
A UK owner operates a US LLC for Amazon FBA sales. During the year:
- The UK owner contributes $30,000 to fund inventory.
- The US LLC pays a US warehouse.
- The owner withdraws $20,000.
- The LLC pays related-party service fees to the UK company.
These transactions need to be reviewed and classified correctly. The LLC may have Form 5472 obligations even if Amazon collected the sales tax and the LLC paid little or no federal income tax.
4. Keep FTIN and W-8 documentation valid
Foreign owners and companies regularly provide Forms W-8BEN or W-8BEN-E to US payers and withholding agents.
For entities, the foreign tax identifying number (FTIN) is generally entered on Form W-8BEN-E, Part I, line 9b. If an FTIN is required but missing or invalid, the form may not support treaty benefits or the intended w
by Ariful | Aug 25, 2026 | UK Updates
TITLE: Companies House Identity Verification: A Practical Compliance Guide for Directors
Companies House identity verification is now a legal requirement for UK company directors and people with significant control (PSCs).
The regime began on 18 November 2025. Existing directors are moving through a 12-month transition period. For many UK Limited Companies, the next confirmation statement filed during this period will be the key compliance test.
Do not leave this until your filing deadline. Complete the identity check early, secure your personal code, and update your accounting compliance process at the same time.
Start with the Companies House identity verification checklist
Use this checklist to organise your next steps:
- Identify every company where you act as a director.
- Identify every company where you are registered as a PSC.
- Check each company’s next confirmation statement date.
- Complete identity verification through GOV.UK One Login or an authorised agent.
- Save your Companies House personal code securely.
- Provide the code separately for each director and PSC role.
- Update your accountant or filing provider.
- Review your accounts, Corporation Tax and VAT deadlines.
Companies House states that most people only need to verify their identity once. However, you must connect your verified identity to each role you hold.
Read the official guidance on verifying your identity for Companies House.
Verify your identity before your next confirmation statement
If you were already a director before 18 November 2025, you have a 12-month transition period.
You must verify your identity and provide your personal code when your company files its next confirmation statement within that period. In practical terms, this means many existing directors must complete the process before their next 2026 confirmation statement. The transition period runs to approximately November 2026.
Companies House will reject the confirmation statement if any director has not completed the required identity verification.
That rejection can disrupt your normal filing timetable. It can also create a wider compliance problem if you miss the statutory confirmation statement deadline.
Action point: check your company’s confirmation statement date now. Do not assume that your accountant or filing agent can complete the process without your code.
You can review the detailed timing rules in the official Companies House identity verification deadlines guidance.
Obtain and protect your personal code
After successful verification, Companies House issues an 11-character personal code.
This code belongs to you. It does not belong to your company or your accountant.
You may need to share it with a trusted professional who files documents for you. Treat it like your Unique Taxpayer Reference or other important company credentials.
Follow these steps:
- Complete the identity check using GOV.UK One Login, or use an authorised Corporate Service Provider (ACSP).
- Locate your personal code through your Companies House account or the email issued after verification.
- Store the code in a secure company compliance record.
- Send it to your accountant or filing provider through a secure channel.
- Record which company roles have been connected to the code.
If you used an ACSP and cannot find your code, contact that provider first. The official personal code guidance explains where to find and manage it.
Provide your code separately if you are also a PSC
A director who is also a PSC has two compliance responsibilities.
You must provide your personal code:
- As a director, through the company’s confirmation statement.
- As a PSC, through the dedicated PSC identity verification service.
These are separate requirements. Completing one does not automatically complete the other.
For an existing PSC who is also a director, the PSC 14-day period starts on the day after the company’s confirmation statement date.
Use the official PSC identity verification service to submit the relevant information.
If you are a PSC but not a director, your 14-day period starts on the first day of your birth month. For example, a PSC whose birth month is January must act during the relevant 14-day period beginning on 1 January.
If you became a PSC after 18 November 2025, you can generally provide your code when added to the register or within 14 days of being added.
Do not combine these deadlines in your calendar. Create separate reminders for your director and PSC obligations.
Update your accounting compliance calendar
Identity verification is a Companies House requirement. It is not an accounting calculation. However, it affects the wider compliance workflow for your company.
Your accounting provider should maintain a calendar covering:
- Confirmation statement dates.
- Annual accounts deadlines.
- Corporation Tax payment dates.
- CT600 filing dates.
- VAT return deadlines.
- Payroll submissions.
- Identity verification and PSC code deadlines.
This is especially important if your business has several directors, overseas shareholders or a group structure.
A structured uk limited company accounting process helps you connect Companies House filings with your bookkeeping and tax records. It reduces the risk of treating each deadline as a separate task with no central oversight.
Prepare for separate accounts and Corporation Tax filings
The HMRC and Companies House joint filing service closed on 31 March 2026.
From 1 April 2026, you must file:
- Company accounts separately with Companies House.
- Your Company Tax Return and computations separately with HMRC.
HMRC requires compatible commercial software for Corporation Tax filing. The change does not move the statutory deadlines, but it does change the software and preparation process.
Review your current filing arrangement now. Confirm that your provider can:
- Prepare iXBRL accounts and computations.
- File the CT600 with HMRC using compatible software.
- File statutory accounts with Companies House.
- Reconcile the figures between both submissions.
- Retain evidence of successful filing.
Read the official guidance on the closure of the joint filing service.
This is a practical reason to review your accounting provider. Your accounts, Corporation Tax calculations and Companies House filing should come from consistent, reconciled records.
Track the main 2026/27 tax figures
Your compliance process should also reflect the current tax thresholds.
For the 2026/27 financial year, the standard Corporation Tax structure is:
by Ariful | Aug 24, 2026 | Banking
TITLE: Global SME Banking Trends: August 2026 Update on Multi-Currency Accounts, Embedded Finance, and Payout Tools
Global SME banking is moving beyond the traditional business current account. Payments, foreign exchange, cash management, lending, and accounting data are increasingly connected through one digital platform.
For UK ecommerce sellers, SaaS companies, agencies, and growing international businesses, the opportunity is clear: reduce conversion costs, access funds faster, and build a more accurate view of cash flow.
The challenge is control. You still need reliable records, clear reconciliations, and compliant VAT and tax reporting across every market where you trade.
August 2026 summary: banking is becoming operational infrastructure
This month’s main developments show five clear trends:
- Businesses can hold, convert, and pay out multiple currencies from payment platforms.
- Marketplace payout tools are giving merchants more control over where funds settle.
- Embedded finance is combining banking, payments, and lending inside business software.
- Cash management products are helping SMEs earn returns on surplus funds.
- Open Banking and AI-driven underwriting are changing how financial data is accessed and assessed.
For your business, this means your payment provider may now perform functions traditionally handled by several banks and finance teams. Review the benefits carefully. Also review the fees, risks, permissions, and accounting consequences.
Hold more currencies with new payment-led accounts
Stripe Treasury launches in Australia
Stripe has launched Stripe Treasury in Australia, giving eligible businesses a single platform to accept payments, hold and convert funds, and pay recipients globally from the Stripe Dashboard.
Australian businesses can receive and hold funds in AUD, USD, GBP, and EUR. Stripe also says users can convert between 10 supported currencies, including HKD, SGD, and NZD.
The practical benefits include:
- Faster access to revenue.
- Fewer external bank transfers.
- Reduced double conversion.
- Payments to suppliers and contractors in their local currency.
- Centralised visibility over payment and treasury activity.
This is particularly relevant if you sell from Australia to the UK, USA, Canada, or Europe. Instead of receiving revenue into one currency and converting it again to pay suppliers, you may be able to retain funds until the correct payment is due.
Do not assume the product is automatically available to every account. Stripe’s Australian Treasury offering has been described as a private preview, so check eligibility, supported currencies, fees, safeguarding arrangements, and account terms before relying on it operationally.
Razorpay adds a multi-currency EEFC option
Razorpay has launched a Multi-Currency EEFC Account for Indian exporters and international businesses.
The account supports settlements in:
The key benefit is that eligible export proceeds can remain in the original settlement currency rather than being converted into INR immediately. Razorpay promotes this as a way to avoid double FX charges and retain greater control over when conversion happens.
This model matters beyond India. It shows how payment providers are becoming part of the treasury function. If your business receives customer payments in one currency and pays suppliers in another, holding the original currency can reduce unnecessary conversion and improve cash planning.
Shopify gives larger merchants more payout flexibility
Shopify’s multi-currency payout tools are also developing. Current Shopify documentation indicates that eligible Advanced and Shopify Plus merchants can connect bank accounts for supported payout currencies.
The previous eight-account limit has been removed for eligible merchants, allowing one bank account per supported payout currency in the relevant region and plan.
This creates a more practical settlement structure for international sellers. For example, a UK-based merchant may prefer to retain GBP revenue in a UK account, EUR revenue in a euro account, and USD revenue in a US dollar account, subject to Shopify’s eligibility rules.
However, non-domestic payouts can carry additional fees. Current market reporting commonly places these fees at around 1% to 1.5%, depending on your country and plan. Check the exact charge inside your Shopify admin before making a decision.
Compare payout conversion with a multi-currency business account
Marketplace and payment platforms may apply automatic currency conversion margins of approximately 1.5% to 2.5%. A separate multi-currency business account may offer a lower effective cost, but the comparison must include all charges.
Review:
- FX spread or conversion fee.
- Incoming payment charges.
- Outgoing transfer fees.
- Monthly or account setup fees.
- Local account detail fees.
- SWIFT charges.
- Payout fees from the marketplace.
- Reconciliation and accounting effort.
Providers such as Wise Business, Airwallex, WorldFirst, and Payoneer all operate different pricing models. Wise, for example, promotes local account details in several currencies and the ability to hold more than 40 currencies. Your best option depends on your transaction corridors and settlement volumes.
Embedded finance is becoming the SME front door
Boost combines banking, payments, and financing in Malaysia
Boost has launched Boost SME, an integrated Malaysian platform combining digital business banking, payments, and financing.
Businesses can reportedly:
- Open an account digitally in around five minutes.
- Accept DuitNow QR, online, and card payments.
- Receive same-day DuitNow QR settlements.
- Access merchant financing.
- Apply for business loans through Boost Bank.
The platform illustrates an important shift. Transaction data is no longer used only to report what happened. It can also support faster settlement, cash-flow monitoring, and lending decisions.
The trend is visible in the UK too. Research from PSE Consulting, based on around 400 UK small businesses, found that embedded finance penetration doubled from 11% in 2024 to 23% in 2026. Offers of embedded payments through software platforms rose from 22% to 46%.
For you, embedded finance may appear inside:
- Ecommerce platforms.
- Accounting software.
- Invoicing systems.
- Subscription platforms.
- Marketplaces.
- Inventory and payment management tools.
This can save time. But it also means you must understand which platform holds your money, who provides the regulated service, and how transaction data is transferred into your accounting records.
BOCHK and Ant International explore blockchain treasury solutions
