Post on 22-Jan-2018
Tipalti Confidential – Do Not Distribute
Rob Israch | CMO | October 5, 2017
5 Payment Must-Haves for Global Crowdsourcing and Online Marketplaces
Tipalti Confidential – Do Not Distribute
Increasingly Competitive Crowd Space = More Selective Partners
• Harder to attract
• Harder to retain
• Provide a great experience
• GO GLOBAL to expand supply
Tipalti Confidential – Do Not Distribute
How Global Partners Benefits Your Crowd
• Expanding the population of providers
• 24x365 potential
• Controls margins with Hub & Spoke model
• Adding diversity to offerings
But it comes with challenges
• Process Complexity
• Scale Issues
• Risks & Regulations
Tipalti Confidential – Do Not Distribute
#1 – Adopt a “Lean” Philosophy
• Reduce friction internally and with partner relations
• Scale globally effortlessly
• Maintain operating margins
• Establish infrastructure to grow with you
Tipalti Confidential – Do Not Distribute
#2 – Develop Cross-Border “Intelligence”
• Global payments are complex – over 26,000 rules
• PayPal? Global ACH? Wire? ACH? Currencies?
• Payment errors are big headaches
• Return fees are expensive
Tipalti Confidential – Do Not Distribute
#3 – Deliver a Best-in-Class Payment Experience
• Control your brand
• Stop email-based onboarding
• Aim to eliminate errors
• Ensure global reach
• Provide choice
• Give proactive status communications
• Give 24/7 portal access
Tipalti Confidential – Do Not Distribute
#4 – Be Tax Compliant
• FATCA laws designed to find offshore tax shelters
• Payer responsible if Payee doesn’t provide right forms – 30% penalty!
• W-9, W-8 series, VAT
• Must verify tax details during onboarding
• Withholding calculations prior to payment
Tipalti Confidential – Do Not Distribute
#5 – Get Proactive on Fraud Protection
• Bad actor potential increases
• Check government blacklists (OFAC, OFSI, etc.)
• Check at the time of payment
• Check for duplicate or near duplicate payees
• Check for reused IP addresses
• Ask for tax ID data
Tipalti Confidential – Do Not Distribute
Global Partner Payments To-Do Review
1. Live by a lean philosophy
2. Develop cross-border intelligence
3. Retain partners with a great experience
4. Ensure FATCA tax compliance
5. Be diligent about AP fraud
11Tipalti Confidential – Do Not Distribute
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98% Customer Satisfaction | $3B+ in Transactions Managed Annually | 1.8M+ Payees
Solving Crowdsourcing Payment Operations