Tipalti, provider of the leading global payments management automation platform, 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. 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.
"With a strong base of customers and partners who are based and do business in Europe, this additional functionality is a key addition to our global payment automation system," said Chen Amit, founder and CEO of Tipalti. "The VAT tax ID capability and identification document management functionality along with the SEPA ACH payments and other payment method and currency options, continues to build upon the robust platform Tipalti has created to easily pay partners and suppliers anywhere in the world in their payment method and currency of choice while seamlessly managing their entire payment operations process."
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.