CA-based Tipalti has debuted new functionality in its platform for European VAT and tax number support and identification document management.
Tipalti customers can now request VAT ID numbers from their payees during the setup process, and can control the payment process so that only payees that submitted VAT tax information get paid. Payees can also now upload important identification documents such as national ID and tax certification during account setup to streamline payer due diligence of partners, and to comply with tax and Anti-Money Laundering (AML) regulations.
This new functionality comes as a follow-up to enhanced support for Automated Clearing House (ACH) payments to the 32 countries participating in the Single Euro Payments Area (SEPA). Tipalti also supports other payment methods widely accepted across Europe including wire transfers, PayPal, prepaid debit cards, Western Union, and paper checks and offers remittance to the payee in their local currency.
Tipalti currently serves more than 250,000 payees globally and processes over $1 billion annually. Customers include Chartboost, TouchOfModern, PulsePoint, Disqus, Matomy, A4D, Tapjoy, MUNDOmedia, Perion Codefuel, ClickDealer, and Boost Media.
Tipalti automates the entire global payments operations process, making it easy for companies to pay any vendor, supplier, or customer across 190 countries while ensuring all tax and regulatory requirements are met and enhancing the partner payment experience.
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