July 13, 2021
Payouts Network Expands Product Suite with Three New Service Offerings
payoutsnetwork.com | BOZEMAN, Mont. ― Payouts Network, the fintech services company leading the revolution in new and better payout capabilities, has added three new services to its product suite, continuing to make payouts and administration easier for businesses and their suppliers and workers.
The new features include:
- Auto Deposit: Payouts are automatically deposited to registered payment accounts
- SMS: Payees receive text alerts in real time when they are paid
- Profile Management: Recurring payees can manage their payment accounts, automatic deposits and text settings via a self-service portal.
“These three new management tools empower users to easily originate and manage payouts while leaving the complexities of systems and security to us,” said Keith Smith, president and CEO of the company. “The new enhancements are consistent with the innovative products and advanced capabilities we offer and continue to set Payouts Network apart as the only fully turn-key platform for B2C and B2B disbursements.”
Payouts Network aims to simplify disbursements and improve payout processes while adding greater speed, flexibility and control for users. With the new features, recurring payees no longer need to authenticate and manually accept every payout via email, reducing the overall burden on employees and businesses while eliminating missed or forgotten payouts.
In addition, businesses can reduce the need to manage outstanding funds or re-send payouts, as payouts are instantly and automatically claimed by recipients. Secure, password-less authentication means payment recipients don’t need to remember another set of credentials to access their Payouts Network accounts.
With the average cost of processing a paper check between $6 and $25, instant payouts reduce the expense of transactions and the chance of check fraud, which can top $19 billion annually. In addition, they can help businesses recruit, retain and motivate workers (employees and freelance contractors) with near real-time access to earned wages. According to a recent report by the Workforce Institute at Kronos, more than half of the employees surveyed believe that on-demand pay is a more attractive benefit than additional paid time off.
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, with our powerful, rules-based platform that 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.
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