What is a Payout?
The way people work is changing fast. People can work remotely and be part of international organizations without leaving their country.
This scenario created a new challenge for cross border companies: how to pay people the way they want to in their currency without being there? Regulation, compliance, taxes, local connections, and other things are needed to make this process smooth to both ends, and this is what EBANX is offering with this new payout product.
This is where Payout solutions come into play. A payout is the act of sending funds to a supplier, partners or a freelancer and helps merchants by:
- Providing fast payments
- Offering a single platform to attend multiple countries
- Reducing total number of transactions to perform a payment
- Providing a good experience to the payees
The EBANX Payout platform offers the following advantages:
- Competitive SLA. Payment occurs in D+3 business days
- Brazil, Chile and Mexico coverage, soon to expand to other Latin America countries
- Reduced number of exchanges by using the settlement to perform the payout
The Payout Process
- Merchant requests payouts through EBANX Dashboard or API
- Compliance will analyze and approve the payee and the payment in D + 1 (business days)
- After compliance approval, the payee will receive the payment in 2 days (business days). If the bank information isn't correct, this SLA can be affected
The whole process (from payout request to payee payment) will occur in D + 3 (business days).
EBANX Payout Solutions
API: Our Payout API allows for full customization of the user experience according to the merchant's needs. This solution requires code development on the merchant's website.
Dashboard: EBANX's Dashboard offers a smooth experience without the need for any coding at all. Simply log on to your dashboard and check our payout features!