Papaya’s new payment solution is designed to facilitate a company’s payroll operation, making money transfers to workers quicker, cheaper, and more secure.
Whether employing just one worker abroad or hundreds across multiple countries, global payroll consistently proves to be a painful and complicated process. Managing ongoing payments requires many time consuming steps whilst tightening compliance regulations and draconian anti-laundering regulations can make the whole process even more arduous
Its time, we believe, to improve the way our customers’ payroll transactions are processed. Thanks to our innovative payroll solution, the tedious completion of forms, transaction delays and reversal errors from transmitted funds will be a thing of the past. Papaya Globals’ fully automated and electronic conduit for financial transactions will lead to substantial time saving, and by eliminating the risk of scams will also provide peace of mind to global companies.
Full Control over Payments
The new payment system effectively reproduces the ACH’s experience, allowing Papaya Global to take the burden off your shoulders, perform all required actions by itself , while giving you complete control over the payment.
With our new system there’ll be no need to wait for a bank’s approval; money transfers to Papaya Global will take as little as a few hours to up to two days – and we will try our best to move to same-day transfers. And as electronic money movements get quicker, your money will arrive even quicker too.
With our newly adopted payment method, financial transaction fees will cost only a few dollars! To compare with the cost of wire-transfers; banks and credit card unions charge up to $35 USD to send money within the United States, and even more for international transactions. Papaya Global’s new method requires no additional expenses, ensuring the cost of transactions remains low.
Our new payment system ensures greater security, offering a complete guarantee against fraud. Funds will always be sent directly to workers regardless if hired directly or through a 3rd party local employer (Employment of Record). With the help of Papaya Global you can be assured that your funds will be paid correctly and timely to all your employees once you have funded your account.
Multi-currency in more than 100 countries
Papaya Global enables transactions in any existing currency, without exception. However remote the location might be, we will be able to manage their payroll.