What is Karat Payments?

Karat Payments is a built-in tool for sending money to contractors, vendors, and partners directly from your Karat account. It handles payments, tax collection, and tracking in one place.

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What you can do

• Send payments to individual recipients or in bulk
• Pay domestically and internationally
• Collect and manage recipient tax information automatically
• Track payment status in real time
• Record payments made outside of Karat for reporting purposes

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How it works

1. Add funds to your Karat account
2. Create a payment: individual or bulk
3. Recipients are notified and complete a one-time onboarding
4. Payments are processed and tracked automatically

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Who can use Payments?

Payments is available to users with Admin or Manager access. _{Karat is a fintech company, not an FDIC-insured bank. Banking and Card services provided by Grasshopper Bank, N.A., First Internet Bank of Indiana, and Cross River Bank, Members FDIC.}