Licensed payment rails backed by JP Morgan and Citi bypass SWIFT — eliminating intermediary fees, shrinking FX spreads, and compressing cross-border settlement from days to hours.
Papaya Global today launched 1Pay, the first neobank built for enterprise payments at global scale. With 1Pay, a finance team can pay every type of payee — employees, contractors, vendors, tax authorities, pension funds, and inter-company entities — through a single platform, on proprietary rails backed by JP Morgan and Citi. No parallel systems. No SWIFT tax. No three-day wait for a wire to clear.
Global payments are still one of finance's most broken workflows. A single payment to a vendor in São Paulo or a pension fund in Tokyo can touch four banks, three currencies, and a week of float — with markups, intermediary fees, and reconciliation work at every hop. Most enterprises run separate systems for each payee type, multiplying cost, complexity, and operational risk.
1Pay collapses all of that into one layer. Because Papaya Global operates as a licensed financial institution with direct banking partnerships at JP Morgan and Citi, payments bypass the correspondent banking chain entirely. The result: lower transaction costs, tighter FX spreads, zero correspondence fees, and settlement in hours instead of days.
"Every cross-border wire is a hidden tax on the CFO — FX markups, intermediary fees, days of float," said Eynat Guez, CEO and co-founder of Papaya Global. "1Pay ends that. As a licensed financial institution backed by JP Morgan and Citi, we give enterprises the same global reach as a bank, at a fraction of the cost — with compliance built in, not bolted on."
From Fragmented Payments to a Unified Platform
Finance teams run every payment type — payroll, contractor payouts, vendors, tax authorities, pension funds, inter-company transfers — through one workflow. One platform, one reconciliation, one view of global cash.
Lower Costs, Faster Settlement, Built-In Compliance
Direct rails mean lower transaction and FX costs, zero intermediary fees, and cross-border settlement in hours. 1Pay supports multi-currency payments across 180+ countries, with compliance — KYC, sanctions screening, regulatory reporting — handled inside the platform, not in the finance team's inbox.
Extending Papaya's Payments OS
1Pay is the next layer of Papaya's Payments OS — the infrastructure enterprises use to move money globally with the efficiency of a neobank and the compliance of a licensed financial institution.
1Pay is available to Papaya Global customers today.
Papaya is the AI-first operating system for a borderless global workforce. Built for enterprise scale, it unifies Workforce OS, Payments OS, and Contingent OS to manage employees and contractors, ensure compliance, and enable instant global payments — combining real-time intelligence with human-backed expertise across 180 countries.
