Global Mass Payment Solution for Online Marketplaces, Affiliate Networks, and Ad Networks

For advertising and crowdsourcing networks and other businesses that must pay large numbers of suppliers worldwide, startup Tipalti has introduced an automated end-to-end global payment engine that supports a full range of localized payment methods and currencies virtually anywhere in the world. The SaaS-based solution – embedded in the payer’s website with a single line of code – streamlines and automates all payment-related processes from payee registration through fund disbursement and tax compliance with all transaction fees paid by payees.

It’s not just a matter of paying in local currency but also supporting localized payment methods, observing maximum transferable amounts , collecting the entire required banking and tax information, and getting all the account numbers and other details right.

With Tipalti, payees register on the payer’s website and choose their preferred payment method, including ACH / Direct Deposit, Global-ACH / International Local Bank Transfer, paper check, wire transfer, PayPal, prepaid debit card and cash via Western Union. When payers upload payment files, Tipalti verifies payee information, performs cross-checks against government blacklists, and collects and generates tax forms to facilitate compliance with payment regulations worldwide.

Benefits include:

In addition to serving advertising and crowdsourcing networks, the Tipalti solution facilitates payments for crowdfunding networks, online and social marketplaces, and affiliate networks for easy remittance to publishers, affiliates, designers, developers and contributors in their currency and payment method of choice.

“If you’re involved in any mass business network, your suppliers can live anywhere on the planet, and each of them can have different payment requirements or preferences. It’s not just a matter of paying in local currency but also supporting localized payment methods, observing maximum transferable amounts , collecting the entire required banking and tax information, and getting all the account numbers and other details right,” said Tipalti founder and CEO Chen Amit. “With our payment engine, all of these functions are fully automated and handled in one fast, easy and affordable pay-out solution.”

The inspiration for Tipalti was a global ad network that was overwhelmed by the sheer volume of payments and levels of customization required for each payee associated with handling payments in-house. The ad network was issuing wire transfers and PayPal payments on a large scale and struggling to maintain compliance while completing payments to payees in multiple countries via a variety of payment methods. The network, which pays thousands of publishers, was forced to raise minimum thresholds for wire transfer payments to handle the burden of payment processing.

The ad network approached Amit, a serial high-tech entrepreneur, looking for a solution. Today, with Tipalti, the network pays globally in 140 currencies, effortlessly providing optimal payout to its publishers.

Before co-founding Tipalti with Oren Zeev, Partner at Oren’s Capital and formerly a Partner with Apax Partners, Amit served as CEO of Atrica, a Carrier Ethernet innovator that was later sold to Nokia-Siemens. Prior to that, he co-founded and led Verix, a business intelligence software company, as well as ECI Telecom, where he developed the ADSL sector into an operation that generated $100 million annually.