Payment Processing Guide

1 May, 2022

Dear valued customer – Thank you for choosing Papaya global!

Our Pledge

When you hire employees, you accept the obligation to pay them correctly, on time, and in compliance with government regulations. This is where we come in: we assure 100% correct and on time payment to your entire workforce globally as our company’s first and primary goal.

The methodology of cross-border payments and currency exchange across the globe is often inconsistent, making it difficult for customers to have a clear understanding of the baseline cost of doing business.

At Papaya, we are committed to full transparency. This guide will explain exactly what you can expect.

Ok, how does it actually work?

We operate across more than 140 countries where we can pay in local currencies in order to comply and meet your local global employee’s needs.

Papaya Global accepts payments in the following currencies:

  • For EOR & Contactor services – USD, EUR & GBP for all projects and SGD (for employment in Singapore)
  • Payroll Services – We can accept either a centralized payment in one currency or local currency payments, We will be mapping your exact needs by entity and currency and we will be supporting all required currencies.

How does Papaya Global determine foreign exchange rates and why might I see different rates online or in the newspaper?

Our foreign exchange rates might be different than other rates you see because our rates reflect all-in pricing. That means we will never include any other fees such as bank wires, admin fees or other costs.

How does this compare to transfers straight from my bank account?

In short, it’s a lot easier. It ensures your team gets paid the correct amount, on time, on every cycle. Also, most banks or other payment providers will charge between 5%-8% on an exchange rate when transferring abroad (a higher rate may apply in case of exotic currencies), along with a fixed fee per transfer.

The Papaya Advantage

Because of our hyper-growth, we are processing substantial transaction volume during our annual cycle (over 2B USD), allowing us to secure better transaction rates. We do not charge additional costs commonly applied in our industry, such as transaction fee, conversion differences, admin fees, or any other bank fees.

To keep our approach fully transparent, our exchange rate will be stated on each invoice.

Here is an example of how’s Papaya’s rates compare to some of the world largest payments solutions and banks:


Wells Fargo1 USD = 0.785156 EURO785.156 Euro
Citibank1 USD = 0.796121 796.121 Euro
PayPal1 USD = 0.787427787.427 Euro
Papaya Global1 USD = 0.797114797.114 Euro

Our Exchange Rate Matching Guarantee:

We know there are many ways to present exchange rates, some of it looks great on paper but costs more at the end of each month.

We commit to matching any rate our competitors offer. Challenge us and we’ll prove our rates are the best in the market – or we’ll match any lower rate you can get.