We are excited to announce that we are upgrading our PayPal services offering to help our customers execute PayPal payments to their suppliers even more effortlessly. Now in the Tipalti platform, PayPal payments have the same seamless, integrated approach for payouts as all our other payment methods, such as wires, US ACH, eCheck (Global ACH), and checks.
Leveraging the newest PayPal technology
This new integration takes advantage of the newest PayPal Payouts capabilities. The enhanced integration enables greater control and messaging exchange for partners on a more scalable, service-oriented architecture. We’re excited to be at the forefront of this program, and believe this innovation is a tremendous step forward that will bring even great value to our clients and their suppliers.
The power of PayPal
PayPal is a popular payment method used globally by digital economy businesses including e-commerce, gaming, adtech, online services, monetization, and online marketplaces. In cases where payments are under $500 USD, we’ve seen a preference for PayPal by these types of digital businesses over other payment methods. In addition, businesses with more traditional models can also more easily add PayPal as a payment option for their vendors and suppliers.
A single point for controlling and executing global payments
The challenges for finance and accounting departments at companies which offer multiple payables payment methods can be overwhelming, including managing distinct method-specific accounting processes including partner onboarding, payment approvals, oversight and governance, funding, and currency management. This creates enormous friction and can introduce errors if the business doesn’t have the robust processes and staff to handle higher volumes.
Now with this tighter PayPal integration, Tipalti can truly be a single source of control over both PayPal and traditional bank-based payments. Tipalti can also manage payment instructions and seamlessly reconcile all transactions, regardless of the payment method. Tipalti removes the need to log into various portals just to execute a payment run.
Payees who work with our customers can also choose to get paid in local currency directly to their PayPal account during the Tipalti onboarding process. The process is simple, and, in a matter of clicks, thousands of suppliers can be paid via PayPal regardless of the currency selected.
Tipalti is proud to be the leader in the global payables automation market, and we are proud that this upgraded offering of PayPal services helps accelerate our innovation by eliminating financial operations complexity for our customers.
*As of this release, the integration is available to US customers submitting payments in USD only.