Global Payments Hub

Payment Rails

In the simplest possible terms, a payment rail is any form of digital infrastructure that transfers money from one individual or business to another. The fintech community refers to payment rails as being on “the far side” of a payment transaction

Correspondent Bank

The correspondent bank receives instructions to process a transaction such as a funds transfer, settlement, currency exchange, etc., along with the requisite funds. It relays that to the other bank, thereby executing the transaction.

Open Banking

Open banking is a driving force for digital transformation, using shared electronic financial data.
It provides lucrative business model opportunities for third-party Fintech app and financial services industry providers. Open banking gives global consumers and business users new products, valuable information, and payment services when they share banking data.

Intermediary Bank

Intermediary banks send money to complete a request done in a single currency, usually domestic. Whereas, correspondent banks support multiple foreign currency transactions.

Swift Code

A SWIFT code is a standard format used when making international transfers between banks and financial institutions. It identifies the branch, bank, and country an account is registered in and communicates the who, what, and where, through BIC (Bank Identifier Codes).

Global Payment Processing

The global payment process begins when a payment is made to a supplier, vendor, publisher, or other affiliates whose bank account is outside of the country in which your business operates. Traditionally, global payments processing requires inputting data into multiple bank portals and are accompanied with expensive fees and costly overhead. When processing global payments to a supplier in a foreign currency, you may also endure heavy conversion fees if you don’t partner with a cost-friendly global payments processor.

SEPA Payments

Table of Contents Overview of Single Euro Payments Area (SEPA) What is SEPA Payment Method? SEPA Payment Processing Schemes Benefits of SEPA Payments What Countries Can Use SEPA How Do You Set Up SEPA Payments? FAQs Electronic SEPA payments are used in SEPA participating countries across Europe to make cashless payments in euro at the

International Wire Transfer

An international wire transfer is a service offered by almost every bank. It’s a transaction that allows you to send a certain amount of money from your bank account to a recipient’s bank account, anywhere else in the world. If you plan on using your bank to send an international transfer, it’s important to understand what SWIFT is and how it works.

Global Payment Methods

You want to integrate as seamlessly as possible with existing accounting and ERP systems. However there are many key steps along the supplier payment process that still require significant manual effort beyond sending out payment instructions to the transfer API for bank, ACH, and wire services.

OFAC

The Office of Foreign Assets Control (OFAC) administers and enforces economic sanctions based on U.S. foreign policy. The goal is to enforce national security against targeted individuals and entities such as:

Global ACH and IAT

What most people mean when discussing “global ACH” is the direct deposit of funds into a cross-border bank account through that country’s basic clearing mechanism

The Total Guide to Cross-Border Payments

Table of Contents What are Cross Border Payments? Benefits of Cross-Border Payments Steps to Sending Cross-Border Payments 5 Types of Cross-Border Payments How to Send a Cross-Border Payment How to Save Money with Cross-Border Payments Corporate Benefits of Cross-Border Payments Tips for Choosing a Global Payments Platform Refining Cross-border Payment Processes How Automation Improves The

Demystifying Cross-Border Payments

From transaction and conversion fees to reliability, no single payment method works optimally in every situation. Understanding the effect of global payment remittance is critical to creating a payables

Tips for Making International Money Transfer

Did you know that you can make an international payment using a local bank transfer? This allows you to pay overseas suppliers, vendors, and other affiliates without incurring expensive transaction fees. An intermediary organization will serve as a mediator between your bank and the payee’s bank.

Cross-Border Payments Guide

Cross-border payments are transactions sent from one country and received in a different country. Transfer fees, bank fees, local currency, foreign currency conversion rates, exchange fees, and international credit card fees may apply to cross-border transactions. Electronic cross-border payments or money transfers are between online accounts or bank accounts registered in different countries.

Cross-Border Payments with Local Bank Transfers

Echecks for Global Payments

Global Payouts

Country to Country Payments

Country to Country Payments – Local Currency Payments From wire transfers to global ACH transfers, making country to country payments presents a number of common business challenges with overseas vendors. At Tipalti we specialize in taking on the challenges presented by global mass payments so that our clients don’t have to do as much as

The Importance of Supporting Multiple Payment Methods

Having the capability to provide any payment method for your clients can make all the difference in maintaining a smooth operation

Global ACH Terms

When you deal with Global ACH payments, different terms arise on your statements. There may be names tossed around in discussions, as well. It is important to know what each of these mean so you have a full understanding of how the process works. These are some terms commonly found. Originators There are two originators.

Safety with Global ACH Payments

Safety with Global ACH Payments Global ACH payments are currently utilized, now, more than ever before. This has increased the need for trusted and secure sources, as the number scammers have also risen. There are now more effective and efficient methods to ensure your mass payments go to the right people. Fraud Check Previously, there

Local Bank Transfers

Local bank transfers are also known as an international ACH, Global ACH or eCheck.