Global Supplier Payments
Power Global Payments to Thousands of Suppliers in Minutes with Tipalti Mass Payments
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Tipalti’s global mass payment capability enables you to pay thousands of suppliers in a matter of clicks:
- Schedule Thousands of Payments
- Pay to 190 Countries in 120 Currencies
- Supports Multiple Payment Methods
- Built-In OFAC and Other Sanctions Screening
- Enterprise-Grade Financial Controls
Tipalti has significantly increased our productivity. Paying publishers would take a week just to initiate and track payments, as well as send checks or PayPal. And we’d spend two days a month investigating and resolving payment issues. Now we’re able to do all this in one‐fifth the time.
Jeff Magliola, VP Operations, Content.ad
The Tipalti platform is architected to securely send hundreds and thousands of payments at scale. Ensure fast, accurate mass payments to suppliers around the world – all with minimal effort required by the AP team. 26,000+ built-in banking rules proactively eliminate payment errors before they happen.
Mass Payment Execution Made Easy
Say goodbye to data entry across multiple bank portals, costly overhead, and extra fees. Send payments in different payment methods, countries, and currencies in a single application via a simple payment file upload or the Tipalti API. You upload your payment instructions and Tipalti parses them to automatically remit in all payment methods with no interaction required by your staff. All payment status and data from each payment method is reconciled, normalized, and can be sent to ERP. Expand payment capabilities without additional labor costs.
Global Coverage, International Payment Methods
Whether you’re paying suppliers, contractors, freelancers, publishers, or vendors, Tipalti can handle it. The global payments system executes payments to 190 countries in 120 currencies across six international payment methods – US ACH, global ACH, wire transfer, PayPal, paper check, and prepaid debit card. The self-service supplier portal guides suppliers through choosing their preferred payment method and collecting banking details. Tipalti then automatically validates this supplier data in real-time using its engine of 26,000 global banking rules to eliminate payment errors. No phones, emails, or faxes by your finance staff, just flexible and secure mass payments backed by our money transmitter licenses.
Advanced Payment Configuration Options
Tipalti incentivizes suppliers to choose the most cost-effective payment methods and shift to more efficient, safe electronic payments. Fee splitting lets payers choose to absorb fees for lower-cost options like ACH payment method while passing costs to suppliers for more expensive methods like wire transfers. Payment thresholds allow you to hold payments until a specified limit is reached, improving cost margins on transactions for your company. Early payments help generate revenue for AP while improving working capital for payees.
Complete OFAC Compliance
After suppliers choose their payment method and provide banking details, Tipalti takes care of the regulatory screening. There’s no need to manually query the OFAC and SDN databases. Tipalti screens both transactions and payees against blacklists and other sanctions lists. Lists are checked before every payment is processed, eliminating the risk of fraudulent payouts to suspicious payees, cash leakage due to payment errors, fines, and criminal liability.
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Enterprise-Grade Financial Controls
Instituting strong internal controls is critical to scale payment operations. Tipalti offers unlimited payment approvers, configurable workflows, and role-based access to enforce delegation of authority, segregation of duties, and system access. Audit trail logs capture user activity in the system, assuring you always have a record for auditability.
Payment Transparency Throughout
Proactive payment status communications keep suppliers informed when payments are processed, when (and why) they fail, if additional information is required to process payment, if tax forms need to be updated, and more. Suppliers can also view their complete payment history in the online portal, freeing your team from hours spent on issue resolution. All payment communications and self-service portal access is white-labeled so that your brand stays front and center with your suppliers.
