Payouts Network Announces Collaboration with Visa to Deliver Fast Business Payouts
Through its implementation of Visa Direct, Payouts Network is enabling real-time funds disbursements for its clients
BOZEMAN, Mont. (March 8, 2022) – Payouts Network today announced its collaboration with Visa, the world leader in digital payments, to give businesses new, faster ways to send money to workers, vendors and customers. Through this collaboration, Payouts Network is implementing Visa Direct¹, Visa’s real-time² push payments platform. With Visa Direct, Payouts Network’s clients in the U.S. will be able to provide fast payout capabilities to their customers, with transactions routed and processed in near real time.
“In today’s digital-first economy, businesses need better options than writing checks, wiring ACH, or paying cash. These methods can take too long, drive overhead costs, and often lack the visibility and security of modern, electronic disbursements,” said Keith Smith, CEO of Payouts Network.
Digital payments are becoming the new normal. Whether paying gig workers right away, providing fast access to earned wages, or disbursing loan funds to customers quickly, real-time payouts are a better option for everyone. The Payouts Network solution also gives greater flexibility for payment such as merchant settlements, loyalty programs, rebates, expense reimbursements, and voucher replacements, among others.
“Visa understands that cash flow management and fast access to funds is critical for businesses of all sizes,” said Yanilsa Gonzalez-Ore, SVP, North America Head, Visa Direct. “We are excited to partner with Payouts Network in the U.S. so their clients can use Visa Direct to help them digitize paper-based, inefficient processes.”
The Payouts Network PayNow Platform seamlessly integrates into existing systems and provides companies with the reporting necessary to best manage their cash flow. Clients have greater visibility and control from the intuitive user platform. A powerful rules-based engine puts businesses in control of their finances and allows them to disburse funds securely, in real-time, to workers and customers.
About Payouts Network
Payouts Network is revolutionizing payouts. We give businesses more speed, flexibility, and control in how they securely pay their customers, workers, and suppliers. Anytime. Anywhere. Any payment type. Our powerful, rules-based platform is integrated with the world’s leading global payments technology companies. Innovation doesn’t start by accident. That’s why we’ve assembled fintech visionaries and market leaders to deliver on our mission. Not tomorrow. Today.
Join our revolution: http://www.payoutsnetwork.com.
¹ Visa Direct capability enabled through Payouts Network’s financial institution partner
² Actual fund availability varies by financial institution and region