A review at international payroll with Papaya Global

In an era where business knows no borders, Canadian companies are reaching farther to find talented candidates. With that, however, also comes the need to handle international payroll processes. If you’re expanding your workforce, Papaya Global might be the right dedicated payments and payroll platform for you, helping to tackle overseas payments with ease. As we delve deeper, we’ll also discover how a solution like Wise can further simplify the complexities of global payments.

Leveraging Global Payroll Services by Papaya Global in Canada

While there are countless payroll service platforms dedicated to Canadian businesses, Papaya Global Canada offers a robust payroll technology that transcends borders. They serve businesses of all sizes, including startups with 1 employee all the way up to enterprises with over 5,000 employees. Regardless of your employee or contractor’s location, you can handle all aspects of payroll and payments and pay in 160+ countries.

With their global payroll wallet, businesses can fund just one virtual payroll bank account in 12 currencies. They’re also licensed and regulated, holding money transfer licenses and using JP Morgan and Citibank accounts infrastructure and payment rails.¹

But what sets Papaya apart is its sophisticated integration capabilities with Human Capital Management (HCM) and Enterprise Resource Planning (ERP). Their very own HCM Cloud Connector allows businesses to gain real-time insights and maintain consistent data across all of their management systems. Any HCM can be integrated into Papaya OS to streamline your entire payroll operation, end to end.²

What’s more, the platform provides real-time reporting, which provides a high-level overview of your payroll operations.

Setting Up International Payments with Papaya Global

Papaya makes paying both your international employees and contractors simple on their platform.

1. Provide the required information: Once you have an account and are all set up, you’ll have to provide details on each global team member, including their personal information and local banking information. Papaya’s platform will then use this data to tailor the payroll infrastructure to suit the needs of each location.
2. Final payroll calculation: Papaya will then send you your final payroll calculation for approval and then another request for funding after that. You’ll then fund your account, and the platform will convert those funds into the required local currency if needed. While you can only fund salary payments in 7 currencies, Papaya supports over 100 payout currencies.³
3. Send payments: Papaya then uses its automation technology to take care of everything from currency conversion to processing the actual transaction through secure banking networks.

Papaya Global’s standout feature is its compliance with tax laws and local labour laws, which you can see with their Countrypedia – a place where you can view details on how to stay compliant in every country.⁴ Through its integration with local in-country partners, businesses won’t have to worry about maintaining compliance with tax laws and banking regulations.

Enhancing Business Operations with Enterprise Connectivity by Papaya

Managing an international workforce requires cohesion, and Papaya Global does this by unifying payroll, HR, and talent management systems. It’s a single-source platform that helps businesses hire and retain talent through its global immigration services and employment benefits with their Global Health Plan.^5,6 And, of course, pay that talent effectively and on time.

The scalability of Papaya’s platform is another big benefit for Canadian businesses. Regardless of whether a company is making its first hire overseas or looking for a more effective way to manage thousands of international employees, the platform is designed to grow with the business.

Papaya boasts a modular, highly customizable platform so your business can bring in additional features and services as needed, without interrupting core operations. That means being able to quickly adapt to changing markets and workforce demands without swapping out payroll and HR systems.

And it’s not just about the here and now with Papaya. Their advanced analytics dashboards are also equipped to predict and adapt to future trends and shifts. Businesses can then optimize their workforce strategies through talent allocation, cost savings, and better compliance.

Papaya Global’s Pricing Structure

Papaya charges three main fees – a set-up fee per location, a cycle fee per employee, and a year-end fee for tax filing. If you want to upgrade your payroll technology with Papaya’s Payroll Platform License without replacing your payroll partners pricing starts from:

• $3/mo per employee.
• For their Full-Service Payroll, pricing starts at $12/mo per employee.
• Their Data and Insights Platform License starts at $150/mo per location.

Other pricing includes:

• Contractor Management: Starts from $2/mo per contractor
• Employer of Record: Starts from $650/mo per employee
• Global Expertise Services: Starts from $190/mo per employee.

All pricing is listed in USD.

International Payroll Services with Wise

If you’re looking for a dedicated payment platform without all the frills, Wise Business can provide an efficient and cost-effective solution for managing international transactions. Renowned for its transparent pay-as-you-go fee structure and use of the mid-market exchange rate for currency conversion, Wise is ideal for Canadian businesses wanting to make cross-border payments with confidence.

Wise’s intuitive business payments platform simplifies the payroll process, with the ability to pay invoices in over 70 countries – with no hidden fees or exchange rate markups. After a one-time fee of 42 CAD, you can even get local bank details in 9 different currencies so you can pay like a local instantaneously. Fees for international payments are laid out clearly, with detailed breakdowns for different currencies and payment methods before you hit send.

For businesses seeking a more integrated approach, Wise has a powerful APIthat slots right into existing company systems. That means reduced manual entry and fewer errors when handling high volumes of transactions, saving your business time and resources.

For businesses in Canada and around the world, Wise’s services can offer less time and worry spent on payroll complexities and more time available to focus on core business growth and development.

Go beyond borders with Wise