Payout is the act of paying sellers, service providers or gig workers by a company (such as marketplaces).
How can global companies face the new challenges to expand in Latin America and pay their local contractors and gig workers in their local currency?
Every company has its own unique financial plan. Strategies aimed toward growth often require creative solutions to achieve their goals. To get ahead, many companies find payouts a reliable payment system. Payouts offer options to build and prosper over a period of time. Having a payout solution allows the scalability and control of mass payments, making it possible to send money easily to the payee, who are the suppliers, gig workers, and salespeople. Read about why payouts might be right for your business.
What is Payout?
A Payout is a solution that allows you to pay your local service providers, suppliers, gig workers, and partners in Latin America, in their local currency, from anywhere in the world. Through Payout, companies are able to scale their businesses, especially if they are marketplaces, delivery companies, or OTAs, for example.
What is the Difference between Payout and Payee?
Terminology can sometimes look alike, but some words that seem similar have very different meanings; such is the case for payout versus payee.
A payout refers to a solution to pay local service providers. However, the payee is the entity that receives the payout. For every payout, there is a payee. The Payee is a party in an exchange of goods or services who receives payment. These are normally sellers and/or service providers as freelancers and gig workers.
Who can use Payout
- Delivery Services
- Freelance networks or Gig workers
- Content creator Platform
What Benefits do Payouts Offer Businesses?
- Payout payment method diversity: The payee can receive their funds in
a bank account or digital wallets.
- Localized customer support: Counting on our customer support in local language, in all steps.
- Fast processing: Payments are sent and received in up to 3 business days.
- Payee onboarding: An intuitive interface to make it easier to collect all necessary personal data and verify payees’ identity.
EBANX Payout solution fits any kind of business or operation.