Papaya Global, the workforce payroll and payments platform, announced the upcoming launch of Papaya Global Hong Kong, which will enable local and cross-border payouts from Hong Kong.
Papaya’s innovative technology and wallet infrastructure, coupled with its partnership with established banking providers like J.P. Morgan, aims to enable Hong Kong-based global organisations to manage international workforce payments, thus supporting their growth.
Papaya Global Hong Kong will provide a unified platform which will allow local customers to fund in HKD and payout internationally. The solution will enable such organisations to pay the wages of employees and contractors internationally.
“Money makes the world go round, and Papaya can move money. We recognise Hong Kong as a hub of technology and business and know that supporting our clients there will drive not only their growth but also the market in general. We harness our innovation and payments network to provide cross-border payments that deliver accuracy and timely landing date,” said Eynat Guez, CEO and co-founder of Papaya Global.
Papaya Global Hong Kong will simplify cross-border payments for Hong Kong-based organisations by enabling them to:
- Fund in local currency and payout internationally.
- 95% same-day global payout transfers and timely land dates internationally, including key Asian markets.
- Pay internationally on local rails, knowing in advance the fees and costs, thus avoiding those accumulated by multiple correspondent banks, while benefiting from secure and efficient transactions.
- Gain transparency and control with real-time visibility and monitoring of every payment and fund throughout the payment lifecycle.
- Mitigate global financial risks with Papaya’s advanced pre-payment and real-time monitoring. Papaya’s platform checks and balances are automated and eliminate delays due to manual screening and compliance checks.
- Comply with high data protection standards and ensure encrypted and efficient data transfers, avoiding paper-based methods.
- Eliminate manual inputs. Papaya’s APIs and data connectors integrate seamlessly with existing systems, reducing the risks of fraud and human error.
- Establish adaptable international payment schedules and process mass payments of up to 10,000 transactions at once, ensuring smooth cross-border disbursements with minimal admin effort.
Papaya Global was built for payroll and payments since its inception in 2016. Since the acquisition of Azimo in 2022, it has established a network of licensed entities that allows for the provision of a cross-border solution that delivers payments in hours. The acquisition combined advanced technology, extensive expertise in cross-border payments, and a global digital payment network reaching more than 150 countries.
