Manage global payments simply
and efficiently

With Papaya you don’t need to open bank accounts across all the countries where you need to pay people. Instead of managing multiple bank account platforms, you can pay anyone across the globe through a single platform.

Papaya is a licensed and regulated financial institution authorized to hold your work-related funds in designated wallets at top tier banks such JP Morgan Chase and transfer those funds on your behalf, according to your instructions. Customers’ funds are properly safeguarded, as required by Papaya’s various payment licenses, and protected with bank-level security.

Papaya Global’s Payment platform covers payments across the globe. You can pay out in the local currency of 160+ locations.

Papaya offers funding in 15 currencies – USD, EUR, AUD, AED, GBP, CAD, CHF, CZK, DKK, HKD, NZD, PLN, SEK, SGD, INR.

In some locations, like in the U.S or when local payment requires exotic currency, you can open a local wallet exclusively for funding and paying accounts in that country. Using local currency makes payments quicker and cheaper.

You can find our detailed payment coverage here.

Under normal circumstances, we consider an average of 2 to 3 days for onboarding clients to the payment solution. However, keep in mind the onboarding process is extensive and will always be contingent on your global payment needs and relevant KYC procedures.

You can open a Wallet to make payments to all stakeholders and employment categories, including EOR, payroll, contractors, freelancers, gig workers and more.

Papaya conducts account validation, transactional monitoring and AML checks, adding a layer of security and assurance that payments will not reach unauthorized people.

Most payments are processed instantly or by the next day. We guarantee that no payment will take longer than 48 hours, but the exact time can depend on the country and currency.

Our platform allows you to set a specific credit date and time, and we guarantee that the payment will be credited on that date through our system.

We use mid-market rates for currency conversion and lock in the spot rate at the time of payment execution. This rate is fixed for the transaction once approved, and you have full visibility into the rates used.

We support split payments, allowing you to divide a payout across multiple currencies or payout methods. This flexibility can be tailored to your workers‘ preferences, such as paying part in USD and part in local currency.

We provide detailed reconciliation reports that clients can customize based on their needs. These reports show money in, money out, and can be filtered by payment groups, user roles, and other criteria, giving you a clear picture of your global financial operations.

Our customers can rely on one centralized platform instead of managing different bank accounts and platforms, requiring them to export data and expose it to risk. Papaya’s infrastructure meets the highest data security standards: GDPR, SOC1 Type ll, SOC2 Type ll, ISO 27001, ISO 27701, CSA.

As a regulated financial services company, we keep your funds segregated, safeguarded, and secure in tier 1 banks until delivery to your beneficiaries.

We also must maintain bank-level security in our platform operations, in order to continue working with our banking partners, including J.P. Morgan.

Papaya Global ist ein lizenziertes und reguliertes Finanzinstitut, das dazu autorisiert ist, digitale Finanztransaktionen zu erleichtern. Wir halten alle Kundengelder in Kundengeldkonten (CMAs) bei erstklassigen Banken wie J.P. Morgan Chase. Diese Konten werden getrennt (wir halten Ihre Gelder getrennt von den Geldern anderer und unserem Unternehmenskapital) und gesichert (die Gelder sind zweckgebunden und können für unseren eigenen Betrieb nicht verwendet werden). Mit einem Kundengeldkonto (CMA) haben Sie die maximale Kontrolle über Ihre Gelder und das Risiko bei internationalen Personalzahlungen wird verringert. Nur lizenzierte und regulierte Finanzinstitute wie Papaya Global sind für die Trennung und Sicherung Ihrer Gelder vertrauenswürdig.

We have multiple safeguards in place, including data validation, penny tests, and checks that flag any changes in beneficiary details, such as a change in the bank account name. This helps prevent unauthorized changes or fraudulent activities.

Before payments go-live, we conduct a penny test (sending a small amount like $1.20) to each account to ensure payment details are accurate. This test helps us confirm that the payment information is valid before processing larger amounts.