Payout
A payout service, also known as a disbursement service, is a financial solution that helps businesses make outgoing payments to various stakeholders. These stakeholders can include employees, customers, suppliers, partners, and investors. Payouts can be used for many purposes, such as paying employees for their services, paying back customers as a refund, or paying a commission to another business for helping cross-sell products.
Payouts can be made in a variety of forms, including cash, check, bank transfer, or cryptocurrency, depending on the agreement between the parties involved. Businesses can use payout services to address issues such as the inability to process payouts during non-banking hours, the complexity of making bulk payments, and the difficulty of verifying a bank account's validity.