It should come as no surprise that we live in a truly global world. Today businesses operate in many international markets and leverage resources distributed around the globe. They need to pay for these resources. Mass payouts refer to the concept of paying out to a large number of recipients such as contractors, suppliers, international workers etc. Usually these are also high volume and high frequency payments involving multiple currencies and payment methods to various jurisdictions around the world. Users of mass payouts typically include live streaming platforms, online education platforms, online travel agencies and others in the gig economy. By integrating mass payouts into products and making it work in real-time, businesses can accelerate time to market and build more worker / partner loyalty. With our Payouts, we help you achieve that.
As a live streaming or online education platform, you enable content creators (live streamers, gamers, teachers) to contribute original content so you can drive viewership and build an interactive community.
The key to sustained growth is ensuring that your platform keeps generating quality content. This means you need to hire and retain high-performing content creators. Part of keeping them on the platform is ensuring that they are paid for their work in a timely manner. Usually you would either pay them over fixed periods (e.g. salary for teachers) or let them cash out their platform credits on-demand (e.g. live streamers). The challenge with the former is how you can do this on a high-volume, regular basis across a variety of currencies and countries while the challenge with the latter is how you can integrate this easily into your platform so the payout can be executed on-demand.
This is where our Payouts API comes into the picture. By integrating with our API, you can create as many payments as and when you need to (assuming that you have collected the recipients’ bank details). If you also want to build an experience in your application to collect recipients’ bank details, you can embed our Hosted Payout Page and configure the style to suit your needs.
As an online travel agency, you sell international tour packages amongst a myriad of other services on your platform.
Tour packages are provided by local guides around the world. On an ad-hoc basis, you need to pay for these local guides’ compensation in their local currencies. Ensuring that you can pay them with assurance and speed is important in retaining their services so your customers can continue to enjoy a wide selection of services on your platform. The challenge is these local guides are all scattered around the world and you want to make small-value, large-volume payouts to them, originating from your financial system of record.
You can integrate your financial system of record with our Payouts infrastructure using our API. When you have created these payouts, we also provide information about payment amount, rates and fees so you can easily reconcile within your financial system of record.
Got some other use cases around mass payouts? Let us know .