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Oxygen chooss CPI for gig economy debit cards

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CPI Card Group Inc. (OTCQX: PMTS, TSX: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced a collaboration with Oxygen, the first digital banking platform tailored to meet the unique needs of the freelance economy.

Oxygen selected CPI to develop its first personal and business debit cards – tapping the Company’s card manufacturing experience and advanced print design services to create a payment product that embodies Oxygen’s unique financial market positioning.

Oxygen provides flexible banking to the millions of U.S. professionals who thrive on multiple income streams, contract work and freelance gigs. The company’s solutions are available through a mobile app that enables a fast, frictionless user experience. Oxygen takes a holistic approach to meeting the financial services needs of independent professionals. In CPI, Oxygen found a card manufacturer that could create a payment solution from end to end. CPI and Oxygen collaborated to develop two packages with clean and crisply-designed vertical cards that arrive nested in interactive packaging. Back-of-card personalization completes the high-end look and feel.

“At Oxygen, we understand that the physical brand experience, – including everything from the card design to the packaging appearance – matters for our creative, tech-savvy clientele. With CPI’s cost-effective scale and design strengths, we were able to deliver a sleek card to customers in a unique, memorable fashion,” said Hussein Ahmed, founder and CEO at Oxygen. “We are pleased to have such a reliable secure card provider and are thrilled to offer customers an eye-catching debit card that echoes their drive, ambition and lifestyle.”

Through CPI’s advanced personalization capabilities and packaging options, financial institutions can develop differentiated card programs that deliver a premium cardholder experience. The Company provides end-to-end support and customizability that allow businesses to create tailored products that bridge the digital and physical worlds for their brands. Additionally, CPI’s innovative manufacturing approach empowers companies to introduce exciting card designs and technology features, which can offer a competitive edge in the pursuit of top-of-wallet status.

“CPI and Oxygen share in being deeply customer-centric in everything we do. We are excited to leverage our manufacturing strengths and high-quality print and design services to achieve debit cards that match the modern, sophisticated aesthetic of Oxygen’s brand and its clients,” said Guy DiMaggio, SVP and General Manager, Secure Card Solutions, CPI Card Group. “We look forward to supporting more fintech innovators and pioneers in creating payment cards that expand the physical aspect of their brands.”  

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Economy

Why the Uber driver case has the potential to alter Canada’s gig economy forever

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Article content continued

Heller was a driver for UberEats who argued that he was an employee, not an independent contractor. That meant Uber owed him overtime, vacation, holiday pay, as well as other entitlements.

The Supreme Court didn’t answer the question of whether Heller and other Uber drivers were employees or not, so in that respect the real issue lies ahead. But it did remove an important roadblock, paving the way for a potentially $400 million lawsuit.

Tucked away in the contractor agreement that every Uber driver must sign before they can start working is an arbitration clause.

The clause required drivers to bring any problems to arbitration in Amsterdam, the Netherlands, and not to an Ontario court. The arbitration in Amsterdam would cost around $14,000 in administrative fees up front, as well as the cost of transport and legal representation in the Netherlands. Something no Uber driver could even possibly afford. Take Heller himself, who earns around $400 to $600 a week for 40 or more hours of work.

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Economy

Gig Economy Ballot Measure Fails Workers, Labor Groups Say (1)

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Daily Labor Report®

July 7, 2020, 8:45 PM

A California ballot measure supported by ride-hailing and delivery companies would lower workers’ wages and limit the power of legislators to institute new labor protections, according to a new report from two labor advocacy groups.

Proposition 22, known as the “Protect App-Based Drivers and Services Act,” will appear before California voters in November and is backed by $110 million from Uber, Lyft, Postmates, Instacart and Doordash. The companies say their workers want to preserve their status as independent contractors, while the National Employment Law Project and the Partnership for Working Families counter that the proposition would roll back existing protections under a state law giving certain gig workers…

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Economy

The OECD’s new reporting framework for the gig economy

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The Organisation for Economic Co-operation and Development (OECD) released model rules on 3 July that would require digital platforms to report information to tax authorities about platform users’ income from offering accommodation, transport, and personal services.

The model rules will help those in the gig and sharing economy “in being compliant with their tax obligations” and ensure a level playing field with traditional businesses, according to an OECD press statement. The rules were approved 29 June by the OECD/G20 Inclusive Framework on BEPS and will apply only in jurisdictions that choose to formally adopt them.

The model rules focus on accommodation, transport, and personal services because “[t]hese are the sectors that pose certain tax compliance risks in light of their scale, the income they generate and the profile of the sellers [platform users] involved”, the OECD said. The rules could be expanded in the future as digital markets evolve.

Two key features of the Model Rules for Reporting by Platform Operators With Respect to Sellers in the Sharing and Gig Economy is that they cover:

  • A broad scope of platform operators and sellers to ensure that as many relevant transactions as possible are being reported. “Sellers” can be either individuals or entities;
  • A targeted scope of reportable transactions, focusing on accommodation (eg, the rental of homes), transport (eg, delivery), and personal services. Personal service generally means “a service involving time- or task-based work performed by one or more individuals at the request of a user, unless such work is purely ancillary to the overall transaction”, and some examples include manual labour, tutoring, copywriting, and data manipulation, as well as clerical, legal, or accounting tasks.

The model rules require annual reporting to tax administrations and sellers by 31 January of the year following the reportable period.

A multilateral approach

Some nations have already implemented measures requiring platform operators to report platform users’ income to the tax authorities. The OECD says it hopes the model rules will help limit or contain this recent proliferation of unilateral reporting requirements. The OECD intends the model rules to streamline reporting regimes for tax administrations and platform operators alike.

Efforts will continue, the OECD said, to develop an international framework to facilitate the automatic exchange of information collected under the model rules.

The OECD noted that the platform economy increases opportunities for tax collection by creating electronic records of transactions that previously were carried out in the informal cash economy.

The model rules are one aspect of the OECD’s larger effort to address challenges arising from the digitalisation of the economy, and their approval by the OECD/G20 Inclusive Framework on BEPS proves that multilateral solutions “are possible”, Pascal Saint-Amans, director of the OECD Centre for Tax Policy and Administration, said in the press statement.

Dave Strausfeld, J.D., (David.Strausfeld@aicpa-cima.com) is an FM magazine senior editor.

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