Daily Payment Delay

Our Processor for Advanced Payment accounts (Vantiv, now Worldpay) had an incident impacting transaction settlement and the funding instruction reports for Tuesday 11/27/2018 that resulted in us being unable to execute funding instructions for transactions processed on that date. This caused a skipped payment on 11/28/2018 for daily payment customers. Payments resumed as normal on... Continue Reading →

Sales Tax & Your Race

Yesterday the US Supreme Court struck down a 1992 landmark decision (Quill Corporation vs. North Dakota) that had previously barred states from seeking sales tax from businesses unless they have a physical presence in the state. The 1992 decision had allowed online ecommerce businesses to thrive by not having to comply with the myriad and... Continue Reading →

Updated Payment Account Requirements

As part of our ongoing efforts to improve our financial and security processes, we are instituting additional controls on new payment accounts. This involves collecting additional information on owners and requiring information be entered by individuals with significant control over the entity. As we have discussed, we are part of the banking network, and require... Continue Reading →

Risk Management & Underwriting

As we wrote about last month we have seen more races cancelled in the past year by operators who have had financial difficulties or just decided it was easier to walk away from the responsibility of the race. We also continue to guard against fraudsters who want to use our site illegally. Without proper safeguards... Continue Reading →

Timer Pricing

We have introduced the ability for races and timers to agree to increase the processing fee on transactions, and for that extra fee to be paid directly to the timer. This allows timers and races to pass along some of the cost of timing a race to participants in the processing fee. This is very... Continue Reading →

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