AGOURA HILLS, Calif., Sept. 26, 2012 /PRNewswire/ -- Tipalti, the automated global mass payment solution for online advertising, game monetization and affiliate networks, crowd sourcing and crowdfunding networks, today announced BoostCTR has chosen the Tipalti platform to send fast, secure payments in local currency to its SEM writers around the world.
In just three short months of using Tipalti, BoostCTR has dramatically reduced its payment processing time, turning a chore that took more than half a business day each week into a 10 minute-a-week job. In addition to processing efficiency, BoostCTR can now offer new payment methods to its writers in more countries, and deliver timely payment in each writer's local currency via their preferred payment method. Plus, the Tipalti system has virtually eliminated payment failure/rejections while ensuring full Anti-Money Laundering (AML), anti-terror and anti-narcotics compliance.
"Using Tipalti has saved us a tremendous amount of time and money by streamlining a vital piece of our operations," said Rob Lenderman, BoostCTR co-founder. "Our writers love it because they get paid faster, in their preferred method and currency, and receive a higher net rate thanks to Tipalti's lower fees that eat less into their wages. Plus, Tipalti's broad international reach allows us to work with writers in more countries than we ever could with PayPal, tearing down a major barrier to our business expansion. With Tipalti, we can easily expand our services to offer our clients advertising optimization by native-speaking writers in emerging international markets."
About 20 percent of BoostCTR's weekly payments are made to international writers based in South America and Europe, as well as some in Australia. Prior to Tipalti, the company was able to pay only through PayPal, which limited its options when it came to hiring writers, and payments became more challenging as the company grew. Rather than investing a massive amount of time, labor and expertise into building an in-house solution, Tipalti's plug-and-play system was a smarter, more economical move.
Tipalti also helped BoostCTR become fully OFAC (Office of Foreign Asset Control) compliant with an automated built-in system that scans every payee against the government issued black-list, eliminating the risk of paying barred entities. In fact, Tipalti has proven so efficient, BoostCTR is looking into issuing daily payments, which Lenderman believes will greatly enhance writer satisfaction, boost productivity and improve recruitment.
Tipalti's efficient system enables any payer of any size to send payments to businesses or individuals in local currency to more than 200 countries in the world, all within minutes, via a single, simple file upload via a web dashboard or API. Tipalti handles all U.S. and international funds disbursements, U.S. tax form collection, U.S. end-of-year 1099 tax form generation, and other compliance workflows that typically consume significant time and resources. Tipalti's service can be free to use for payers, with transaction fees picked up by the funds recipient. The platform is fast and easy to implement, and typically takes less than a day to setup.
To get started, payers integrate a single line of code into their payee registration workflow using a white-labeled iframe. Payees enter their preferred currency and payment method—ACH/direct deposit, global-ACH/international local bank transfer, paper check, wire transfer, PayPal, prepaid debit card or cash via Western Union. The system incorporates local regulatory information to ensure payments are received by each vendor quickly and at the minimum cost.
When it's time to disburse payments, the payer uploads a single payment file to Tipalti and the system automatically reconciles payees and payment methods, screens payees against blacklist databases and disburses funds through the payer's bank account. Processing payments takes mere minutes, and there's no limit on how much or how little money can be sent.
To get started sending payments around the world today, visit www.tipalti.com.
Tipalti's Software as a Service (SaaS) allows crowdsourcing, crowd-funding and advertising networks to streamline payments to developers, contributors, publishers and affiliates. Tipalti supports a large number of payment methods per country, disburses payments in local currencies, handles tax-reporting requirements and fulfills the required screening of payees. For more information, visit www.tipalti.com.