Global partner payment automation system to manage, execute and reconcile the entire process of making outbound payments to partners and suppliers.
Pay your partners anywhere in the world with Tipalti. The global system supports paying to any country of the world with multiple payment methods and currencies. Your partners and suppliers select whether they want their payment in local currency or USD. Country-specific banking information is collected from payees to ensure successful payment remittance. Mass-payment methods are optimized to the payees’ country to minimize cost.
Tipalti allows your global partners to choose from over seven payment options, including wire transfers, ACH, pre-paid debit cards, PayPal, international ACH, and more. Tipalti’s ensures successful payment remittance while eliminating time-consuming, error-prone manual payments entry by your team. Tipalti’s self-serve dashboard is integrated in to your partner web portal allowing each payee to register, choose their preferred payment method, and provide all their necessary banking information to ensure successful payment processing. You simply upload your payment instructions and Tipalti automatically remits in all the payment methods selected.
Cut up to 80% of your accounts payable workload with Tipalti’s payment solution. Manual payment processing and bank information collection by payment method and country is eliminated. Tipalti collects payee tax forms, making access to documentation easy. Payment errors are eliminated because of Tipalti’s automatic validation. When payment issues do occur, the system identifies the cause and communicates with the payee to collect missing information while giving the payor full visibility into status. Workflow capabilities make payment approval simple. Payment reconciliation is transformed with ERP integration and built-in reports.
Tipalti collects tax form information from all payees, including W-9s and W-8s, during the payee registration process. Payee tax documentation is saved for instant payer access. An end-of-year 1099 service provides a submission-ready file to help you manage reporting to federal and state authorities, as well as mailing of payee forms. Prior to making payments, every payee is scanned against US and international blacklists to avoid payouts to suspected terrorists, money launderers, cyberterrorists, and drug traffickers. Tipalti’s database is updated regularly with all the latest information to ensure full OFAC, AML, Anti-Terror, and Anti-Narcotics compliance.
Organizations using Tipalti have reduced their direct payment costs by up to 25%, by eliminating rejected payments due to incorrect payee information.
The system also gives you complete control over who pays for each transaction: you can absorb the cost, roll the cost onto the payee, incentivize payees to use your preferred payment methods, and reward individuals or groups by reducing their transaction costs. Built-in fraud detection further safeguards you from risk and loss.
Tipalti’s white-labeled IFRAME seamlessly integrates into your website and maintains your brand, while removing the burden of handling the complexities of mass partner payments. Tipalti integrates into your website with a comprehensive API to facilitate payee registration, payment method selection, and tax form collection. All tax and regulatory updates and product enhancements are instantly rolled out to customers with Tipalti’s SaaS platform, eliminating IT maintenance, upgrades and patches from your team’s plate.
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