Papaya Global, a prominent player in payroll and payment technology, has introduced its revolutionary offering, Papaya Global Payroll Payments, designed to streamline global payroll processing and facilitate bulk payments to employees, authorities, and benefits providers.
Papaya Global Payment Solution
This innovative solution leverages Papaya’s extensive global money transfer licenses to expedite payment processing, thereby enabling clients to provide faster payments to their workforce. With full transparency and control over their accounts, organizations gain the ability to track payments at every stage of the transaction process, ensuring a comprehensive overview of fund flows. Furthermore, users can categorize payments as salaries, services, taxes, or other designations, simplifying bank scrutiny.
Transactions in 72 hours
Papaya’s Payroll Payments solution boasts rapid payment execution, promising transactions within a mere 72 hours. Clients also benefit from access to a dedicated monitoring team, readily available to assist with issue resolution. The solution accommodates multiple currencies, enabling payouts to 160 countries, and catering to diverse global payroll needs.
This fully automated, embedded payment system eliminates manual processes, fees, and late payments, as underscored by Papaya CEO and Co-Founder Eynat Guez. It seamlessly bridges the gap between local employee requirements and global employer obligations.
Papaya Global Mission
Papaya Global, established in 2016, specializes in global payroll technology, incorporating an embedded payments platform. The company’s overarching mission is to transform payroll into a strategic asset that caters to the workforce demands of multinational enterprises.
Papaya Global Acquisition of Azimo
Notably, Papaya Global’s acquisition of Azimo, a money transfer enterprise, played a pivotal role in enabling the Payroll Payments solution. This acquisition brought aboard Azimo’s cutting-edge technology, cross-border money transfer expertise, a global digital payment network, and invaluable payment licenses. Moreover, the Azimo team became an integral part of Papaya Global as a result of this strategic acquisition.
Furthermore, strategic partnerships with financial giants such as JP Morgan and Citibank have fortified Papaya Global’s ability to facilitate in-house payments, further enhancing the capabilities of the Payroll Payments solution.