Time is money. Now retailers can enter the world of faster payments when they pay employees and suppliers, and also when sending credits to customers. Payments platform Checkout.com announced a real-time payments solution aptly branded as Payouts. The new system is API (application programming interface) driven and enables multiple payment methods and also cross-border transactions.
Additionally, Payouts will provide merchants will real-time currency exchange rates so they know the true amount of their international payments. Merchants want their payment providers to help them run their businesses, including time-savings features when dealing with payments disbursements for international markets.
The following excerpt from a Retail Technology Innovation Hub article reports more on the topic:
Cloud-based payment solutions provider, Checkout.com, is launching a solution called Payouts. The Payouts product will enable merchants to make payouts in real-time to four billion plus cards in over 174 countries and payments to local bank accounts in around 40 countries.
Guillaume Pousaz, CEO and Founder, Checkout.com, says: “We’re equipping merchants with the technology to transform payouts from a functional component of business to a strategic growth lever to drive exceptional experiences, expand into new markets and boost profitable growth.”
“Agile enterprises are looking for ways to innovate on the payments journey. Legacy payout systems simply can’t scale with them. Our payouts solutions will give merchants the ability to facilitate the movement of money more freely.”
Overview by Raymond Pucci, Director, Merchant Services at Mercator Advisory Group