Tipalti, a global payables automation solution, announced this Tuesday that it will be relaxing its fees in light of the coronavirus pandemic, which has caused a lot of financial hardship on people across the world.
In particular, the payments company said that it will waive the Tipalti platform fee for one year for guilds, nonprofits, and trade groups. The company has decided to do this in order to support them in disbursing funds quickly to their members during COVID-19.
Via its platform, the company automates the entire payables workflow, starting from the payee onboarding through to the payment process. This is available across 6 payment methods, 190 countries and 120 currencies, the company said.
Source: LinkedIn
Firms dig deep to help during COVID-19
Tipalti is one of the many companies in the finance industry that is doing its part to try and bring relief during this difficult time. As , Goldman Sachs launched a $300 million initiative.
In particular, the company committed $275 million to create a Small Business Stimulus Package, including $250 million to provide emergency loans to small businesses across the country and $25 million in grants to Community Development Financial Institutions (CDFIs) and other mission-driven lenders to ensure they have the necessary capacity to underwrite and deliver loans to small businesses as soon as possible.
The (MOEX) said at the end of March that it will not charge one-off and monthly fees for all new technical access IDs for MOEX Trade terminals. This is on the Equity and Bond, foreign exchange (forex), and Money Markets.
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