Tipalti Expands Low Cost Bank Transfers to 32 European Countries
Payees in 32 European Countries Can Now Receive Payments Via Fast, Efficient and Cost-Effective eCheck and Global ACH Methods
Tipalti, the leading global online pay-out provider, today announced that the company’s automated solution now supports fast, cost-effective Global ACH payments to the 32 countries participating in the Single Euro Payments Area (SEPA). SEPA is the latest payments integration initiative of the European Union for simplification and harmonization of Automated Clearing House (ACH) and Direct Deposit (DD) payments.
“We are very excited to support SEPA and provide the benefits of a single, harmonized, simple mass-payment method to our customers,” said Tipalti founder and CEO Chen Amit. “While we have supported payments to all of these countries since we started our service, with the SEPA transition in play, our customers now have a unique advantage: the option of providing global ACH and Direct Deposit payments to their payee’s local bank accounts, while realizing significant cost savings and efficiencies, which can be passed directly to the payees. All with no effort on their part.”
Under the SEPA initiative, which becomes mandatory in February of 2014, the 17 Euro Zone countries as well as 15 other countries have adopted a standard by which ACH and DD payments can be made, greatly simplifying those transactions for companies making payments to European suppliers. Tipalti’s support of SEPA means users will enjoy an even greater range of payment options, offering a clear competitive advantage to the advertising and affiliate networks, online marketplaces, and monetization networks, utilizing the Tipalti solution.
Tipalti supports SEPA payments to the following countries: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia, Spain, Denmark, Bulgaria, Czech Republic, Hungary, Latvia, Lithuania, Poland, Romania, Sweden, United Kingdom, Iceland, Liechtenstein, Norway, Monaco, Switzerland, Martinique, Guadeloupe, French Guiana, Reunion, Gibraltar, Åland Islands.
Tipalti’s customers pay tens of thousands of publishers, affiliates, developers, contributors, and other suppliers every month. With a global network supporting the widest range of payment methods, Tipalti’s solution streamlines the international payment process, saving significant time and reducing costs by eliminating manual data entry. Tipalti also helps its customers comply with tax and government Anti Money Laundering (AML) regulations by automatically collecting tax forms from each payee and scanning each payment against the most up-to-date government issued blacklists.