As the year comes to a close, what is the state of your payments program? What items will you place on your checklist of things to accomplish in 2020? What problems, if solved, would enable you to most effectively pay out recipients and business partners worldwide?
Every payout solution is different! Review our 2020 Payments Checklist below and see if any of these items is on your own list:
Simplify your payments timeline
Why complicate life when sending funds to your recipients’ bank accounts? If you’re using multiple payouts providers to send funds around the world, the year 2020 might find you considering how to consolidate your payouts through a single robust payouts provider. After all, when you're juggling a complicated timeline with multiple payouts providers, the margin for error may increase. Managing those transactions and relationships is complicated! It can make sense to streamline your timelines with a single provider that efficiently sends funds to your recipients’ bank accounts in most, if not all, of the markets you need to reach.
Move closer to real-time payments
“Real-time payments” is a huge catch phrase in payments. Key to moving closer to real-time payments is seeking out a payouts provider who owns its network and all of the bank and payout partner relationships in it. Direct integrations will enable your payouts to arrive more quickly and efficiently by eliminating middlemen. What’s more, a payouts provider with such a network will be able to provide statuses to enable you to track all of your transactions, eliminating the stress of wondering where your money is.
Pay people the way they want to be paid
If you like the convenience of having your paychecks sent straight to your local bank account, shouldn't your recipients enjoy the same benefit? Many might think that a single payout option – whether that’s an e-wallet or prepaid card or bank deposit – satisfies the needs of recipients, but the truth is, recipients have a wide range of payout preferences.
Ready to look into how Transpay can help you check goals off your payments list?