13 largest providers of mass payments for international business

We cooperate with both Russian and international providers of mass payments. The translated material is dedicated to the second category. A review may be useful for startups planning to make massive payments on the international market.

Modern technologies are gradually removing obstacles that previously prevented individuals and companies from making international transfers. As a result, businesses around the world today have the opportunity to expand their presence in new markets. The same is true for personnel: new technology solutions for financial reporting and project management tools allow employers to assemble effective international teams of professionals from around the world. New projects of talented entrepreneurs, aimed at developing solutions for organizing mass payroll and preferential payments, seriously simplify control over logistics chains, supply contracts, hiring freelancers and temporary staff.

Let's look at the activities of some mass payment solution providers.
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Worldcore

Worldcore international payment system makes the sending and receiving of local and international non-cash transfers available to any business without any restrictions, but in accordance with international legal norms. Worldcore account security is organized in such a way that all outgoing payments require the input of an additional one-time authorization code, which can be received via SMS or e-mail.

The company also issues prepaid debit cards , sending them within 24 hours of submitting the required documents. The card is instantly replenished from any bank account and can be used as a solution for organizing the transfer of salaries, salaries, bonuses and other payments. The Worldcore account allows the user to accept payments by bank transfer, replenish any Visa / Mastercard debit or credit card, make online payments, transfer money to a prepaid Worldcore card, pay bills, goods or services. In this sense, a clear advantage of Worldcore cards is that their daily withdrawal limit is 4 thousand euro, and the monthly limit is 120 thousand euro.

The company promises round-the-clock service and the shortest possible order processing for users who have submitted an application for creating a payment account on its website. For individual accounts or debit cards, the verification process includes the provision of digital copies of a passport and proof of residence at a specified address. The company uses the Thomson Reuters World Check for internal audit of financial institutions and individuals.

Skrill payouts

Skrill Payouts allows you to make payments to customers, freelancers and service providers around the world without the hassle. The service provides very low commissions, an unlimited number of recipients and a large selection of currencies. The solution allows companies to make payments to customers and partners, knowing only their email address. That is, in just a few clicks you can make a massive payment, including with cross-border transfers, and in 40 different currencies. According to Skrill, payments come instantly through processing through the company's own payment gateway.

OKPAY

OKPAY is a digital solution for managing the payroll. The service allows you to send funds to both OKPAY users and to digital purses that are convenient for recipients with just a few clicks. The company offers its own API that allows you to send mass payments to subsidiaries, freelancers and regular employees or write off funds to replenish the balance of credit cards, as well as other payment systems. Money can be sent to the cards of any bank or to the specially ordered OKPAY payment card, which is accepted in all ATMs and online / offline stores of the world that work with Visa or Mastercard.

Dwolla masspay

MassPay is a tool for fast, secure and cheap simultaneous sending of money to a large group of recipients. The service is ideal for paying salaries to full-time employees, services of freelancers and freelancers, commissions of trading platforms, rewards for affiliate programs, bonuses, royalties, or prize money. With the help of the system you can transfer up to 5 thousand people at a time. Payments are made by simply downloading the csv file to Dwolla.com or programmatically using the MassPay API .

Justworks

Justworks offers entrepreneurs a program of connecting attractive preferential programs for their teams, services of organized mass and one-time payments (bonuses, compensations) to temporary and permanent employees, taking care of all relevant tax reports. In addition, the range of services also includes personnel management tools and monitoring compliance with regulatory requirements.

Anybill

Anybill offers comprehensive automation of the process of paying bills and tax payments for small and medium businesses. Among the clients of the service there are some large corporations and organizations from various industries. Anybill cloud platform fully automates the process of paying off accounts payable, starting with invoicing and fixing it in the system and ending with approval and payment. It allows customers to clearly see the entire process of paying bills and exercise clear control over it, in conditions of complete transparency, and the ability to integrate data with accounting solutions.

Elance Global Payments (Upwork)

Elance Global Payments is a complete payment platform for Upwork members, allowing employers to easily pay for work, and freelancers to receive payments quickly and efficiently. Employers have access to several different payment methods, including credit cards and PayPal, as well as tools for tracking funds paid to freelancers. Freelancers from all over the world, in turn, have access to a large selection of ways to withdraw money from their accounts, including transfers in the local currency of the country, transfers in US dollars, PayPal, Payoneer and Skrill.

Tipalti

Tipalti's payment automation platform simplifies the process of paying invoices to suppliers who deliver products and services that are important to a business. The service is a comprehensive cloud solution that automates all stages of interaction with vendors: from concluding contracts or receiving commercial offers and invoices for payment, to choosing payment methods and transferring funds. At the same time, the platform guarantees full compliance with the norms of tax and financial legislation.

Paypal mass pay

PayPal offers a massive payment solution that allows you to simultaneously send funds to up to 5 thousand recipients in different currencies and in different countries of the world. Senders can easily track payments, and recipients can quickly receive payments online. This cost-effective solution is free for recipients and offers profitable commissions for those who wish to make domestic and international payments. Currency conversion is available for all currencies supported by PayPal. The solution also offers support in organizing payments for affiliate programs, returning bonuses to customers, rewards for surfing the Internet, preferential payments to staff members and other forms of remuneration.

Hyperwallet

The Hyperwallet platform was designed specifically for payment organization. It provides growing organizations with a transparent, smooth and reliable way to manage payments and improves conditions for payees, no matter where in the world recipients are located. Hyperwallet’s advanced payment architecture has earned the trust of large companies, electronic stores and other platforms that need these services. It allows you to combine disparate financial infrastructure in a holistic, taking into account the characteristics of a particular business environment.

Regalpay

RegalPay - desktop software that automates the repayment of invoices for payment. It takes payment transactions from the client’s accounting and ERP systems and transfers them to the bank. After that, the program downloads data on the settlements made and compares this information with your system, providing you with a daily report on the status of the cash register. The add-on ERP payment adapter prompts the user to enter data on invoices for payment from vendors to their usual systems of debt repayment, without having to replace them with new solutions. After that, the application also retrieves the payment file from the old system and automatically sends it to the financial institution to conduct an electronic payment.

Payeer

The Payeer service allows you to make massive payment transfers to various systems, to bank cards and accounts worldwide using your own API protocol. Instant payments are available to users immediately after creating a digital wallet and depositing funds on it. Depending on the business turnovers, Payeer can provide customers with special commissions. The service allows you to integrate numerous international payment systems and payment methods, seeks to eliminate any obstacles for users, allowing you to make transfers to recipients from around the world (as many as 7 billion potential recipients, according to information on the site). The decision does not require confirmations for the withdrawal of limits or restrictions, and does not impose them on international transfers.

Payoneer

Payoneer manages a state-of-the-art, highly-organized global platform that guarantees customers low commissions and fast processing of transactions combined with a high level of protection, thorough data verification, flexible payment tracking and a transparent reporting system. The company's service is available in more than 200 countries and regions and allows operations in 150 different currencies. Many leaders in their fields, including companies such as Airbnb, Amazon, Getty Images, Google and Upwork, use Payoneer mass payment services to send funds to their beneficiaries. As soon as the company initiates a payment using the service, the funds are immediately transferred to the recipient's Payoneer account and stored securely there. Account holders receive a flexible choice of options for using these funds, including checking to a local bank account, using a prepaid MasterCard card in stores, online stores, ATMs or transferring money to another Payoneer customer’s account.

As an additional service, Payoneer customers can use the service ecosystem to access the services of millions of professionals and companies around the world through visiting local events and other local marketing initiatives. Payoneer guarantees its business customers that all their transfers are made in accordance with legal requirements, security standards and within the framework of a platform that is thoroughly audited by third-party auditors and has received the highest reviews from financial regulators around the world. In addition, Payoneer offers a service for automating the completion and submission of tax reports (forms W-8/9, 1099 and 1042), which further simplifies the management of cross-border payments.

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