Papaya Global Launches 1Pay: An Enterprise-Grade Neobank That Lets Businesses Pay Anyone, Anywhere at a Fraction of Traditional Banking Costs
Papaya Global launches 1Pay, the first neobank tailored for global enterprise payment scenarios. Powered by licensed payment rails from JP Morgan and Citi, 1Pay enables corporate finance teams to pay employees, contractors, suppliers, tax authorities, pension funds, and affiliated entities through a single platform—eliminating parallel systems, removing SWIFT intermediary fees, and compressing cross-border settlement times from days to hours.
New York, April 21, 2026 — Papaya Global today announced the launch of1Pay, the first neobank built for global enterprise payment scenarios. With 1Pay, corporate finance teams can make payments through a single platform to all types of payees—including employees, contractors, suppliers, tax authorities, pension funds, and affiliated companies—underpinned by proprietary payment rails supported by JP Morgan and Citi. Companies no longer need to maintain multiple parallel systems, incur SWIFT-related fees, or wait three days for wire transfers to clear.
Global payments remain one of the most inefficient parts of the finance process. A payment to a supplier in São Paulo or a pension fund in Tokyo can involve four banks, three currencies, and up to a week of tied-up capital, with markups, intermediary fees, and reconciliation work at every step. Most companies run separate systems for different payee types, further driving up costs, complexity, and operational risk.
1Pay consolidates these processes into a single layer. Because Papaya Global operates as a licensed financial institution and maintains direct banking relationships with JP Morgan and Citi, payments can completely bypass the chain of correspondent banks. The result: lower transaction costs, tighter FX spreads, zero intermediary fees, and settlement times reduced from days to hours.
“Every international wire transfer is a hidden tax on the CFO—FX markups, intermediary fees, days of tied-up capital,” saidEynat Guez, CEO and co-founder of Papaya Global. “1Pay puts an end to all of that. As a licensed financial institution backed by JP Morgan and Citi, we offer companies the same global reach as a bank, at a fraction of the cost—with compliance built into the platform, not bolted on afterward.”
From Disparate Payments to a Unified Platform
Finance teams can now handle all payment types through a single workflow—payroll, contractor payments, suppliers, tax authorities, pension funds, and intercompany transfers. One platform, one reconciliation, one global view of cash.
Lower Costs, Faster Settlement, Built-In Compliance
Direct payment rails mean lower transaction and FX costs, zero intermediary fees, and cross-border settlement within hours. 1Pay supports multi-currency payments in over 180 countries, with compliance features—including KYC, sanctions screening, and regulatory reporting—handled within the platform, rather than manually managed by finance teams in their inboxes.
Extending Papaya's Payment Operating System
1Pay is the next layer of the Papaya Payments OS—the infrastructure that enables companies to move money globally with the efficiency of a neobank and the compliance of a licensed financial institution.
1Pay is available immediately to Papaya Global's existing customers.
About Papaya Global
Papaya is the AI-first operating system for the borderless global workforce. Built for enterprise scale, it integrates 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 expertise, serving over 180 countries.
