Why Workforce Payments

Why workforce payments are not
like any other payments

Find out how Papaya Payments – the first workforce fintech – addresses all
the unique requirements of global workforce payment delivery 

video poster

The benefits of dedicated
workforce payments

Guaranteed Land Date 

Workforce payments can’t be late. Or early. You need them to always land on time, everywhere. General PSPs can’t make that promise. 

Built-in Fraud Prevention

Avoiding worker misclassification, botching authority payments – paying workers has many critical nuances. Only a dedicated fintech rooted in compliance can assure that. 

Full Liability 

Workforce is your biggest expense. You need support from real humans and a partner who has your back.

Regulatory and
Compliance Requirements 

General payments are not subject to as many ever-changing rules and regulations as workforce payments are. Can your current payment method help with that? 

Worker misclassification 
Classification errors are costly and hurt your reputation.  
Authority payments
Employers must adhere to strict and unique local authority regulations.
Classified as “salary” 
Workforce payments must be marked as salaries for AML and Credit Score purposes.
Are you the Ultimate Debtor? 
If the payer is not identified as the origin of the payment it can cause unnecessary delays.
Multiple KYCs 
Setting up multiple local bank accounts is time-consuming, often leaving you with Tier 2 banks.

Countless siloed
financial processes

From working with multiple bank accounts to mitigating FX volatility, without a dedicated fintech, paying a global workforce is incredibly siloed and fragmented.

Juggling multiple local bank accounts 
Only a dedicated cross-border workforce mass payments platform can spare you this cumbersome operation.
Hidden fees 
Rails non-optimized for payroll cause in hidden fees from numerous intermediary banks.
Paying in local currency 
The need to pay locally results in many costly, inefficient currency conversions.
Early funding
The need to fund local accounts early each cycle stresses your working capital.
Costly FX volatility
Funding accounts early in the pay cycle leaves more room for FX changes.

Operational Hurdles

Workforce payments rely on HR data and must land on a specific day. That’s where many mistakes happen.

Inaccurate payments
Working with separate systems leads to discrepancies and human error.
Numerous methods
Using multiple bank accounts and payment methods leads to a low level of control and visibility.
Precise land date
Workforce payments must land on a specific day. Most PSPs will not guarantee that.
JE Reconciliation
Your workforce payments solution should streamline that, too.

Trust and Support

Workforce is your biggest expense and most significant liability. You deserve more than a chatbot.

Licensed and regulated
Workforce payments funds should sit with safeguarded and segregated accounts.
Siloed payment methods
Enjoy transparent pricing with no hidden fees or surprises, and maximize cost efficiency.
Data security
Workforce data is a desirable target for wrongdoers and require bank-level security.
Human touch
Mission-critical tasks deserve a high level of expert, human support.
Full liability
A provider who leaves you high and dry is not worthy of your most precious funds.
Woman looking forward

Boost productivity and performance.

Papaya’s global payroll and payments technology covers it all. So you can focus on what matters — your business.

Get a Demo