Infolinks & Tipalti: Reducing the cost of publisher payments
With its large number of publishers, Infolinks faced the challenge of making thousands of publisher payments monthly, accurately, and on a timely basis. And with publisher pay-outs being a sensitive, mission-critical, process, Infolinks’ president was personally involved. Every month, 2 or more full days were allocated to completing pay-outs. With new publishers continuously signing up, many of the initial transactions would fail. Some of the most common reasons were:
- Publisher entered bank account number instead of European IBAN number.
- Publisher would fail to enter Indian IFSC code.
Processing mass publisher payments also meant spending massive amounts of time on tax compliance, including manually collecting W-9 and W-8 tax forms from publishers. Infolinks also had to ensure compliance with AML (Anti Money Laundering), anti-terrorist, and drug-trafficking laws, that prohibit payers from transferring money to entities suspect of such illegal activities.
Once Infolinks implemented Tipalti’s mass-payment solution, the publisher payments process became fully automated. Payment files were uploaded to Tipalti’s servers and payments were disbursed through Tipalti’s banking partners. In short order, rejected and failed transactions to first-time payees dropped to almost zero, tax form collection was automated and OFAC compliance was achieved.
Before migration to Tipalti, the collection of W-9/W-8 forms had been Infolinks’ number one support issue. Following the migration, there were few or no support cases related to tax compliance.
Infolinks now processes thousands of publisher payments every month using Tipalti. Payments are disbursed through ACH, international ACH, and wire transfers to dozens of countries, including the US, India, Paraguay, Vietnam, Pakistan, Indonesia, Singapore, Israel, Croatia, Thailand, Germany and China.
“Thanks to Tipalti’s mass-payment solution, our publisher satisfaction has significantly increased and our publisher retention rate has grown, while our workload and cost of payment have dramatically decreased,” says Yariv Davidovich, President of Infolinks. “By implementing Tipalti’s solution we were able to completely automate the collection of W-8/W-9 forms from 100 percent of our publishers, with no time invested by us. We also achieved complete compliance with OFAC (Office of Foreign Asset Control) regulations, again without having to invest any of our time or resources.”
Key Benefits of Tipalti’s Publisher Payments Solution
- Increased publisher satisfaction
- Integrating Tipalti took less than two days
- First-time payment failure dropped to almost zero
- Full OFAC compliance achieved