California-based online pay-out provider Tipalti has today revealed improvements to its European payment scope.
Tiplati’s SaaS solution allows affiliate, advertising, monetisation, crowd-sourcing and crowd-funding networks to streamline payments to developers, contributors, publishers and affiliates.
The company, which teamed up with affiliate marketing platform Cake in April this year to offer online campaign tracking and global payment capabilities, has today announced that its automated solution now supports global Automated Clearing House (ACH) payments to the 32 countries participating in the Single Euro Payments Area (SEPA).
SEPA is the latest payments integration initiative of the European Union for simplification and harmonisation of ACH and Direct Deposit (DD) payments.
New Euro Zone Standards
Under the SEPA initiative, which becomes mandatory in February 2014, the 17 Eurozone countries, as well as 15 other countries, have adopted a standard by which ACH and DD payments can be made, greatly simplifying those transactions for companies making payments to European suppliers.
Tipalti founder and chief executive officer, Chen Amit, said while the company has supported payments to European countries since it launched, with the new SEPA transition in play, customers now have a ‘unique advantage’.
“They now have the option of providing global ACH and Direct Deposit payments to their payee’s local bank accounts, while realising significant cost savings and efficiencies, which can be passed directly to the payees. All with no effort on their part,” Amit said.
Improving the International Payment Path
Amit said Tipalti’s support of SEPA means users will enjoy a greater range of payment options, offering a ‘clear competitive advantage to the advertising and affiliate networks, online marketplaces, and monetisation networks, utilising the Tipalti solution’.
Tipalti, which also works with US paid search management business Trada, also helps its customers comply with tax and government Anti Money Laundering (AML) regulations; by automatically collecting tax forms from each payee and scanning each payment against the most up-to-date government issued blacklists.