The new workforce payments platform provides an end-to-end solution, the FinTech company in the workforce payments industry said in a Tuesday (Feb. 6) press release.
Embedded payments and AI technology are crucial for payroll companies to thrive in today’s competitive landscape, Zvika Liblich, chief strategy officer at Papaya Global, said in the release.
Customers will increasingly demand solutions that cover the entire payroll process on a single platform, from calculation to payment execution, Liblich said. These solutions should also be flexible enough to support any employment model and operate in any currency worldwide.
Papaya’s AI-powered payroll validation engine allows organizations to manage different types of workers and pay them in local currencies, regardless of their location, per the press release.
The platform integrates with existing payroll systems, enabling global organizations to scale their workforce while ensuring compliance provided by Papaya, according to the release.
By streamlining payroll and payment operations, Papaya’s platform optimizes efficiency and transparency, transforming workforce payments from a major expense and liability into a strategic asset, the release said.
During the Super Bowl, Papaya will promote this platform with a 30-second advertisement titled “Small balls. Big Game,” per the release. The ad showcases the game-changing nature of Papaya’s AI-powered workforce payments platform using self-bouncing ping-pong balls.
With its comprehensive workforce payments platform, Papaya serves a diverse range of customers operating in over 160 countries worldwide, the release said. The company empowers organizations to hire globally and pay locally, ensuring timely and compliant payments every time.
Platforms like those offered by Papaya can ensure that compliance and regulations are followed, and taxes paid, when businesses make cross-border payments to employees and freelancers, Papaya Global CEO Eynat Guez told PYMNTS in an interview posted in December 2022.
“On the payment side we constantly see more and more regulation on anti-money laundering and global transactions that are being monitored and so on,” Guez said. “And payroll is a very local transaction, but it’s also timely transactions [for employees]. I need to pay you correctly, I need to pay you exactly on time.”