Who is global pay

Globalization has transformed every aspect of global payments. As a result, back-end payment operations must be refined to assure global payments can be made quickly, efficiently, and without costly overhead expenses.

The size of a company tends to impact how many global payments it makes. Generally, the larger the company, the larger the volume of international payments. Those in the following fields typically make larger volumes of cross-border payments than most other industries:. Global payments consume a large amount of time and energy from the accounts payable AP department. Domestic and international payments are processed very differently.

When AP departments are not available to handle them separately, this can lead to an increased risk of non-compliance and human error.

After all, ensuring payment accuracy and upholding tax and regulatory compliance are essential to global payments. When a payment is processed incorrectly, it can take many days, and possibly even weeks, for the mistake to be corrected. This can hinder relationships with vendors and suppliers. Thus, the goal should be to make the global payment process as simple as possible. Providing suppliers with a simple way to upload their account and routing numbers and choose a preferred currency and payment method will improve relationships and may lead to discount pricing opportunities.

There are several global payment processors that connect with a single acquiring bank. If this acquiring bank is within the United States, then any payments originating outside of the country are deemed as cross-border payments, and this increases the likelihood of them being declined. Other global payment processors connect with two to three acquiring partners, which reduces the chances of the cross-border payments being rejected.

Yet other global payment processors have anywhere from 10 to plus partners they team up with to process international payments. Global payment processors like Tipalti take extra measures to ensure every cross-border payment is processed quickly.

Even when a transaction is declined, it can be sent to a different acquiring bank for processing. This speeds up the entire payment process and gives a payment as many chances as possible to be approved without having to resort to a different payment method. First off, when choosing a global mass payments platform, look for enterprise-grade financial controls. Also, check for the ability to schedule thousands of payments at the same time and whether the platform supports multiple payment methods.

Different suppliers are going to have varying payment preferences. Paying them according to their most-preferred method makes it easier to do business with them, as well as streamlines the entire payment process.

More so, compliance with cross-border remittance rules is of the utmost importance. The Company's segments target customers in various industries, including financial services, gaming, government, healthcare, professional services, restaurants, retail, universities, not-for-profit organizations and utilities.

It provides services across a range of channels to merchants and partners in over countries throughout North America, Europe, Asia-Pacific and Latin America.

Consumer Financial Services. Contact Info. United States. Executive Leadership. Troy Woods. Chairman of the Board. Cameron M.

President, Chief Operating Officer. Jeffrey Steven Sloan. Chief Executive Officer, Director. Paul M. Guido F. New Stories. Global Payments Inc has held preliminary tie-up talks with Total System Services Inc, Bloomberg reported on Thursday, citing people familiar with the matter. Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes. Latest Trade Change Volume 3,, Today's Range