5 Payment Must-Haves for Global Crowdsourcing and Online Marketplaces

Tipalti Confidential – Do Not Distribute

Rob Israch | CMO | October 5, 2017

5 Payment Must-Haves for Global Crowdsourcing and Online Marketplaces


Increasingly Competitive Crowd Space = More Selective Partners

• Harder to attract

• Harder to retain

• Provide a great experience

• GO GLOBAL to expand supply


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


5 Payment Must-Haves


#1 – Adopt a “Lean” Philosophy

• Reduce friction internally and with partner relations

• Scale globally effortlessly

• Maintain operating margins

• Establish infrastructure to grow with you


#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


#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


#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


#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


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


Questions?


Thank You!@risrach / @tipalti

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5 Payment Must-Haves for Global Crowdsourcing and Online Marketplaces