70%
decrease in manual processes
99.7%
payments delivered on time
95%
same-day payments on local rails
Consolidate payments,
cut workload
No more managing multiple local bank accounts or relying on unsegregated trust accounts.
Execute statutory payments — including taxes, social security, pensions, health insurance, and more — across 160+ countries from a single virtual IBAN. Your payments reach statutories directly through local bank accounts, ensuring compliance while reducing fees and processing time. > change ‘Your payments reach statutories directly’ TO ‘your payments reach statutory authorities directly’
End-to-end automation
What took hours of manual effort can now be completed in minutes.
We automatically generate statutory payments from your payroll data — no manual manipulation required. Following instant validation, your payments are ready for approval, transforming a lengthy, error-prone workflow into a streamlined action.
Don’t miss payment deadlines
Late statutory payments can result in penalties and interest, and repeated delays may even flag companies for audits. Our guaranteed land date feature ensures every payment arrives when needed, regardless of time zones or cross-border complexities.
Avoid errors in payment classification
Each payment is automatically identified as an statutory payment and linked directly to your company as the salary payer. Mandatory reference numbers are included to ensure that every payment reaches the correct statutory under the proper account. No more classification errors, no more compliance risks.
Flexible funding,
global compliance
Fund in one of 15 supported currencies, and we’ll handle conversion to 130+ local currencies and payments through optimized rails, reducing costs and delays. Leveraging our extensive expertise in workforce-related payments, we ensure every payment meets local compliance standards — such as being paid from local accounts when required.
Compare our statutory payments:
Bank account management
Payment deadline management
Payment processing
Staff requirements
Payment tracking
Local bank requirements for compliance
Global coverage
Cashflow management
Error mitigation
Bank account management
Single virtual IBAN with payouts from local accounts
Payment deadline management
Guaranteed landing dates – preventing payment delays and penalties
Payment processing
Payment automation with validation checks
Staff requirements
Minimal, as pre-validated data is ready for approval(s)
Payment tracking
Real-time visibility across statutories and countries
Local bank requirements for compliance
Local payouts in one unified solution
Global coverage
160+ countries with local compliance
Cashflow management
Dedicated currency wallets paying out to 160+ countries
Error mitigation
No manual data entry required, with instant bank file validation preventing potential errors
Bank account management
Multiple local bank accounts required across jurisdictions
Payment deadline management
Manual tracking required
Payment processing
Lengthy manual processing for bank files required (3-4 hours for 20 payments)
Staff requirements
Extensive manual processing while requiring multiple team members. Staff absences risk delays and penalties
Payment tracking
Multiple bank portal logins required
Local bank requirements for compliance
Must establish own local accounts
Global coverage
Limited by bank’s network
Cashflow management
Separate accounts with complex fund management across countries
Error mitigation
Significant manual effort required, with errors often detected at payment or after misallocation —causing delays and penalties
Bank account management
Payment deadline management
Payment tracking
Payment processing
Error mitigation
Staff requirements
Local bank requirements for compliance
Global coverage
Fund segregation
Bank account management
Segregated funds in virtual IBAN, enabling local payouts
Payment deadline management
Guaranteed landing dates – preventing payment delays and penalties
Payment tracking
Real-time visibility across statutories and countries
Payment processing
Payment automation with validation checks
Error mitigation
No manual data entry required, with instant bank file validation preventing potential errors
Staff requirements
Minimal, as pre-validated data is ready for approval(s)
Local bank requirements for compliance
Local payouts in one unified solution
Global coverage
160+ countries with local compliance
Fund segregation
Dedicated virtual IBAN with clear segregated funds
via trust accounts
Bank account management
Mixed client funds in shared trust accounts
Payment deadline management
Dependent on processor timelines
Payment tracking
Limited transparency due to pooled funds of clients
Payment processing
Lengthy manual processing required
Error mitigation
Significant manual effort required, with errors possibly detected at payment or after misallocation —causing delays and penalties
Staff requirements
Varies by provider but requires multiple touchpoints
Local bank requirements for compliance
May not meet local requirements or open own local accounts (limited coverage)
Global coverage
Limited by processor’s presence
Fund segregation
Mixed client funds with creating reconciliation challenges
FAQs
How do you maintain compliance across countries?
As global workforce payment experts, we ensure every statutory payment is fully compliant and correctly classified, regardless of jurisdiction. With a platform that continuously keeps up with regulatory changes and local bank accounts—often mandated for statutory payments—we ensure full compliance, without the need for your company to establish and maintain local banking relationships.
How does Papaya’s classification system ensure compliance and accuracy?
Our classification system provides reliability through its automated and comprehensive approach. Each payment is automatically classified as an statutory payment and linked to your company as the ultimate debtor, ensuring adherence to local regulations. Additionally, we include the reference numbers mandatory for every statutory payment, guaranteeing that funds are accurately matched to the correct accounts.
What are the risks in statutory payments and how does Papaya prevent them?
Traditional statutory payment workflows expose businesses to significant risks. Manual data entry can cause errors and delays, and even minor mistakes in bank details can lead to fund misallocation, often resulting in time-consuming investigations and accumulating penalties. Customers must also ensure every statutory payment is compliant and meets necessary deadlines.
Papaya’s platform eliminates these vulnerabilities through multiple layers of protection:
- Automatic Conversion of Payroll Data: Our platform seamlessly converts payroll data into payments, ensuring data integrity by eliminating manual manipulation.
- Built-in Validation Checks: We automatically detect and flag potential issues, preventing problems before they affect your payments.
- On-time Delivery Guarantee: We ensure timely payment delivery, minimizing the risk of late penalties.
- Continuous Compliance Updates: As global workforce payment experts, we stay updated on regulatory requirements to ensure all payments meet local compliance standards.
- Support for Local Bank Accounts: We handle payments through local bank accounts, ensuring compliance with regional payment regulations.
This proactive approach enables you to confidently process statutory payments across 160+ countries, with built-in safeguards at every step to ensure compliance.
How does the guaranteed land date feature work?
You specify the required payment date, and we ensure delivery through optimized payment rails, taking full liability for on-time processing.
What types of payments are supported?
We support both mandatory and voluntary third-party contributions, including tax, social security, pensions, health and social insurance, as well as vendor payments (e.g., meal vouchers). Our platform also simplifies payments to your workers, covering payroll, contractor, EOR, and expense transactions across 160+ countries.
What visibility do I have into payment statuses?
Our platform provides complete visibility into your payment lifecycle. Track every statutory payment in real-time from initiation through completion, with automated pre-payment reminders and instant status notifications.
Boost productivity and performance
Boost productivity and performance, so you can focus on what matters — your business.