Finix Revolutionises Business Transactions with the Launch of Payouts

Finix, a leader in payments technology, announced the introduction of Payouts, a standalone product set to transform the landscape of fund disbursement. In response to the common hurdles faced by businesses—siloed payment flows, complex vendor relationships, and delays due to bank approvals—Payouts emerges as a user-centric solution. The platform enables efficient, large-scale money transfers through a single, developer-friendly API, eliminating the need for extensive technical integrations.

Versatile Use Cases

Payouts presents an efficient solution for a wide array of situations, encompassing  gig economy wages, business-to-business (B2B) account payables, contractor payouts, tax refunds, insurance claims, tips, sales commissions, and numerous other scenarios. Richie Serna, CEO and co-founder of Finix, emphasises the significance of addressing challenges faced by businesses when sending money at scale. With Payouts, companies of all sizes can configure their payment flows swiftly, minimising complications and intermediaries.

Key Features Enhancing Efficiency

The platform introduces essential features catering to the diverse needs of businesses:

• 24/7 Card Payout Availability: Businesses can disburse funds to cards in near real-time, 365 days a year, ensuring continuous operational efficiency.
• Real-time Bank Account Validation: Integration with Finix allows businesses to link and validate bank accounts in real-time, expediting the process and reducing dependency on traditional banking timelines.
• Flexible Payment Maximums Based on Industry: Customisable disbursement limits for push-to-card and bank transfers provide businesses with the flexibility to scale their operations effortlessly.
• All-in-One Platform: Through seamless integration with Finix’s comprehensive platform, individuals can utilize a single API to facilitate payments, including ACH transactions, real-time payments, and card transfers via Mastercard Send™ and Visa Direct.
• Embedded Compliance: Finix conducts necessary compliance checks on recipients ahead of transactions, ensuring secure and compliant money movement.
• Reliable, Detailed Reporting: Businesses can manage payout services effectively with out-of-the-box tools, customisable reporting, and detailed recordkeeping.

Strategic Collaborations

Finix leverages partnerships with Mastercard Send™ and Visa Direct, enabling card-based payouts for U.S. businesses. Silvana Hernandez, Executive Vice President, Product and Engineering, North America, Mastercard, and Yanilsa Gonzalez-Ore, North America Head, Visa Direct, express excitement about streamlining global money movement.

As Finix continues to evolve, Payouts reinforces the company’s commitment to providing dynamic solutions that empower businesses of all sizes. The platform enables secure, real-time fund transfers, allowing companies to focus on their core priorities—product development, customer satisfaction, and business growth.