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Papaya’s Workforce Wallets – Designed for a Global Direct Deposit
Papaya Global is a technology company that united payroll and payments through a single platform AND a licensed and regulated financial institution, holding money transfer licenses around the globe.
That combination has allowed Papaya to build the first and only payments solution specially designed for global direct deposit to employees, tax authorities and benefits vendors. The new Workforce Wallet supports all employment categories, including payroll, EOR, and contractors.
With the Workforce Wallet, you can pay your entire global workforce with a single click – without opening bank accounts across the world and without outsourcing your payments to a PSP and losing control of the payments.
With all the data for the entire payroll process – from onboarding to payment – stored on one platform, you get complete transparency and optimized FX management. The system runs daily simulations of the payment process, predicting FX rates with unparalleled accuracy.
All of Papaya’s client Workforce Wallet funds are held in JP Morgan and Citibank, segregated and safeguarded. Payments are delivered through JP Morgan and Citibank payment rails, optimized especially for direct deposit.
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