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Papaya Exchange Rate Policy

Last updated: 1 January 2019


Exchange rates and currency conversion

Papaya accepts payments in USD and EUR for all projects and SGD for employment in Singapore.

In any case in which the payment currency is different from the currency of payment to the worker, Papaya will convert local costs to the payment currency.

Papaya calculates its exchange rate using rates from one or more third parties, such as OANDA and CurrencyLayer. It is updated regularly, but may not be identical to the real-time market rate. In addition, a 3% exchange fee will be added to the total cost; the exchange fee accounts for Papaya’s holding costs and foreign currency risks. In cases of currencies facing high volatility of exchange rates, the conversion fee will be increased to 7%.

The exchange rate used will be stated in the invoice.


Third-party fees

Customers who pay in a currency that is different from the designated currency of their payment method may encounter other currency conversion rates or fees applied by their provider or third-party payment processor. Contact your provider (e.g. credit or bank card issuer) for information on what fees may apply to such transactions.


Cross-border fees

If there is a discrepancy between the payment amount listed in the invoice and the post-payment bank statement, the customer should contact their provider. The discrepancy may be caused when the customer’s bank considers Papaya’s processing entity international, in which case the bank may charge cross-border fees even if the charge was processed in the designated currency of the customer’s payment method.