What makes Tipalti, the company that helps make B2B payments to the masses, the future of all payment services? Its automated business process, the company says. Now, that process has been enhanced in its European payment capabilities.
“With a strong base of customers and partners who are based and do business in Europe, this additional functionality is a key addition to our global payment automation system,” said Chen Amit, founder and CEO of Tipalti in a company news release. “The VAT tax ID capability and identification document management functionality along with the SEPA ACH payments and other payment method and currency options, continues to build upon the robust platform Tipalti has created to easily pay partners and suppliers anywhere in the world in their payment method and currency of choice while seamlessly managing their entire payment operations process.”
These enhanced European services will now allow for Tipalti customers to request ID during the payment process from the payees. They can also upload ID documents to help make the payment process quicker. According to the company, "this new functionality comes as a follow-up to enhanced support for Automated Clearing House payments to the 32 countries participating in the Single Euro Payments Area (SEPA). Tipalti also supports other payment methods widely accepted across Europe including wire transfers, PayPal, prepaid debit cards, Western Union, and paper checks and offers remittance to the payee in their local currency."
Tipalti currently serves more than 250,000 payees globally and processes over $1 billion annually. Customers include Chartboost, TouchOfModern, PulsePoint, Disqus, Matomy, A4D, Tapjoy, MUNDOmedia, Perion Codefuel, ClickDealer and Boost Media. Because each supplier has different needs on how they want to be paid, as pointed out in a Cash & Treasury Management File article, Tipalti was set up to solve the logistical problems for large e-commerce companies which deal with suppliers around the world. Through its global mass payments services, it is able to streamline the process through its automated business services.
"Tipalti believes that one of its key differentiators is their Global Payment Engine which uses five main banking groups and third-party payment providers to make their payments. This payment engine enables Tipalti to make payments to all allowable countries worldwide," according to the C&TM File highlighting the features of the company.