Top 12 Mass Payments Solutions for International Business Use
Since technology has shed the barriers for individuals and businesses to make international transfers, businesses around the world have been unleashed to reach new markets. The same goes for talent – tech-powered accounting solutions and project management tools allow businesses to maintain effective global teams, spread around the world. Moreover, supply chains, international vendors and freelance contractors have never been easier to manage with some of the most talented entrepreneurs developing mass payouts solutions for business use. Let’s look at some interesting examples of mass payments solutions providers:
Worldcore global payment service makes sending and receiving local and international wire transfers available to any business without limitation but in compliance with international regulations. Worldcore’s account security is designed in such way that all outgoing payments require additional one-time code authorization that can be completed by SMS or by e-mail.
Worldcore also provides a prepaid debit card within 24 hours of submitting the required documents. The card has the ability to load funds from any bank account instantaneously and can be used as a payout solution for wages, incentives, salaries, etc. A Worldcore account allows a user to get paid through bank wire, load any Visa/Mastercard credit or debit card, make online payments, make withdrawals to the Worldcore prepaid debit card and pay bills or buy any goods. It’s an absolute advantage that Worldcore cards’ daily ATM withdrawal limit is 4,000 euros and the monthly limit is 120,000 euros.
The company promises to work round-the-clock to provide the fastest possible turnaround time for people signing up for the payment account via the website. For individual accounts or debit cards, the verification process requires digital copies of the individual’s passport and an address proof. The company utilizes Thomson Reuters World Check forfinancial institutions as the back-end verification tool.
Skrill Payouts allows paying customers, freelancers and suppliers worldwide without hassle. The solution enables money transfers to as many people as users want at low cost and with a choice of currencies. Skrill Payouts enables businesses to pay customers and partners using only their email addresses – easy mass payouts with just a few clicks, low-cost cross-border payments in 40 currencies. Payments are claimed to arrive instantly and be processed through the Skrill payment gateway.
OKPAY e-payroll solutions allow users to send payouts using options that are convenient for payees. Payouts can be sent to both OKPAY users and clients of third-party payment providers in a couple of clicks. The company offers a proprietary API that allows to send mass payouts to affiliates, freelancers, and employees, or to arrange withdrawals to credit cards as well as other payment systems. Funds can be sent to the cards issued by any bank or to specially ordered OKPAY payment card, which is accepted at all ATMs and online/offline stores in the world that work with Visa or Mastercard.
MassPay is a tool that was designed to be a fast, secure and low-cost way to send funds to a large number of individuals. This tool is perfect for paying contractors, freelancers, or employees, marketplace or affiliate commissions, rewards, rebates, royalties or winnings. MassPay allows to pay out to up to 5,000 people at once by simply uploading a CSV file from Dwolla.com, or programmatically with the MassPay API.
Justworks helps entrepreneurs bolster their growing businesses with transparency, integrity and simplicity in mind. The company believes in leveling the playing field and offering large company benefits for small businesses – so they can provide the care their team deserves and compete for top talent. Justworks’ payments solutions allow paying all full-time and part-time employees, contractors and vendors via direct deposit. The company manages all the filings, like W-2s and 1099s. Users can even easily make one-off payments to one person or whole departments like expense reimbursements, bonuses and commissions.
Anybill provides end-to-end accounts payable automation and tax payment services for the small to medium business market (SMB), as well as some of the world’s largest corporations and organizations, encompassing a variety of industries. Anybill’s cloud-based platform automates the accounts payable process, from invoice receipt and data capture to approval and payment. It provides clear control and visibility over the entire AP process with complete transparency, robust reporting, and data integration with accounting solutions.
Elance Global Payments
Elance Global Payments is a complete payment platform that enables clients to easily pay for work and freelancers to access their earnings quickly and cost-effectively. The company provides clients with the flexibility to add multiple payment methods and the tools to track freelancer payments. With Elance Global Payments, clients have a number of different funding options, including credit card and PayPal. Elance offers international freelancers a variety of withdrawal methods, including local currency transfer, USD transfer, PayPal, Payoneer and Skrill.
Tipalti’s payment automation platform streamlines the way companies make payments to those critical to delivering goods and services. Tipalti is a comprehensive cloud-based solution that unifies all phases of supplier payments from vendor on-boarding, invoice management, and payment method selection to funds disbursement while keeping the payer in full tax and regulatory compliance.
PayPal offers a mass payment solution to send funds to up to 5,000 people at once, in different countries and currencies. Senders can easily track payments and recipients get paid quickly online. This cost-effective solution is free for recipients and offers a competitive pricing for domestic and international payments. Currency conversion is available for currencies supported by PayPal. The Mass Payment solution also offers affiliate commissions, customer rebates, pay-to-surf rewards and employee benefits.
Hyperwallet Mass Payout
Hyperwallet is a purpose-built payout platform that provides growing organizations with a frictionless, transparent and reliable way to manage payments and enhance the payee’s experience anywhere in the world. Trusted by enterprise, e-commerce and on-demand platforms, Hyperwallet’s advanced payment architecture unifies fragmented financial infrastructure in a singular environment.
RegalPay is an accounts payable automation software adapter that runs on a desktop. It is an ePayables “engine” that takes payment transactions from accounting/ERP system and transmits them to the bank. Then, it performs a daily download of settlement files and compares that information to the system to display a daily cash position. With the RegalPay ERP payment adapter, users can enter their vendor invoices into an existing accounts-payable system as usual; RegalPay then extracts a payment file directly from accounts payable system and automatically transfers the payment file to the financial institution for electronic disbursement.
Payeer Mass Payments
Payeer service enables mass pay transfers to various payment systems, bank cards and bank accounts worldwide via our API protocol. Users just need to create their Payeer e-wallet, add funds and they are ready to send instant payments from the e-wallet account. Depending on the turnover of the business, the company can give clients special fees. Payeer allows integration of numerous-international payment systems and methods, employs a freeze-free account policy for users and enables payments to anyone, worldwide (more than 7 million potential users). The solution does not require verification to remove the limits and restrictions and does not impose limits per internal transfers.
First appeared at LTP