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Making Mass Payouts Easier for Your Business

Elie Toubiana
November 16, 2020

Making Mass Payouts Easier for Your Business

Whether we talk about paying the employees, vendors, or any other stakeholder associated with the business, payment disbursement needs to be as efficient as possible to ensure that an organization can focus on more important matters. This is where mass payouts come into play and before exploring different platforms in detail, let’s just understand what it means.

What are mass payouts?

The people whom you are supposed to pay might be in a different country, time zone, accepting less popular fiat currency and above all, their payment method might be different from the mainstream ones. If That's the case and you have, let's say 1500 employees, you would spend days sending them the payments, whereas the entire process can be automated with the help of mass payouts, also known as batch payments.

With the help of this feature, you just have to click a button and release online payments to all of the payees so they can get reimbursed instantly while ensuring that the payments can be tracked as well. It's also worth noting that this entire mass payout activity can be scheduled,implying that none of the employees are required to click a button for releasing the payments as this is handled by the system itself on the specified date and time.

As a result of this approach, organizations can save time and money while enhancing their overall output and processes.

It should also be noted that two of the most widely used mass payout methods are file and API, which means that organizations either have to upload a huge file of all the payee details (must be organized correctly for synchronization) or they can simply integrate an APIwith their system and let the 3rd party platform handle the payments automatically.

A comparison of top mass payout companies

Since we are living in an era dominated by FinTech, there have been an array of companies in the last two decades who have tried their best to capture the market, but all of them have pros and cons. Let’s explore them in detail and understand as to why Carbon offers the best alternative.

Paypal

Pros:

  • Entertains most of the countries
  • Easy integration

Cons

  • Higher fee for vendors
  • More programming efforts to handle thousands of payments
  • Recipient needs to have a PayPal account

Payoneer

Pros:

  • More widely accessible
  • Good for SMEs and freelancers

Cons

  • Higher and complicated fee
  • Not user friendly
  • Unreliable and expensive for large businesses

Stripe

Pros:

  • Extensive documentation
  • Used by many large-scale businesses

Cons

  • Higher fees
  • Limited coverage

Carbon

Pros:

  • Fast
  • Reliable
  • Easy integration
  • International coverage
  • Simple fee structure

Paypal

Undoubtedly, it happens to be the most popular option and is the preferred choice for conducting all e-commerce activities by the majority in the US, UK, and other developed countries. While the feasibility is quite decent and Paypal happens to be the oldest and most renowned one in the niche,is it really the best choice when we talk about mass payouts?

Well, to begin with, their integration is quite easy and they support most of the countries. Even if you try to integrate your entire payment system with Paypal’s mass payout, someone would be able to develop and integrate the entire system in less than 2 weeks since the documentation is elaborative and the platform is so mainstream.

However, it comes with some cons as well – for instance, not everyone has access to Paypal due to geographical limitations and above all,their transaction fee for vendors is significantly higher than some competitors.

Apart from all this, they have another disadvantage as well.If your organization decides to scale up and handle several thousand payout via Paypal, a huge programming effort would be required. Thus, rendering them suitable for smaller organizations only.

 

Payoneer

Whether it’s mass payouts or requesting payments from clients, Payoneer has made a decent place in the industry and is quite a popular option for freelancers and SMEs. Moreover, since Paypal has some geographical limitations, Payoneer has taken that segment of the market and established itself to serve a greater audience.

However, it has a maximum daily transfer limit that might not be suitable for several large businesses looking to give higher salaries.Their interface is not quite friendly as well and several steps need to be performed before you start using the platform.

 

Stripe

This is quite a well-established company and several businesses prefer it for the robustness, reliability, and extensiveness of developer options. So, despite having a huge customer base, Stripe is also getting out of the competition gradually due to its high pricing, complicatedAPI, and slow transaction speed.

 

Carbon

Now that you have explored the pros and cons offered by the mass payout companies operating for well over a decade, let’s talk about Carbon That effectively resolves all of the problems currently being faced by companies.

To begin with, it is worth noticing that the integration process is incredibly simple as the integration requires two lines of code only, and your entire platform is synchronized with about 100 markets. If you look at it, you don’t even have to be a geeky developer to do so!

Apart from that, while several competitors focus on localized markets, we extend our reach Internationally and give you more reasons to trust us.

Since your vendors and beneficiaries could be in a variety of countries, Carbon handles the payments transfers to their local banks as well, while taking care of the local compliance regulations.

 

Conclusion

So, it is quite evident that while mass payouts are becoming a growing concern and need of the era, there were not many solutions tofacilitate the companies from all aspects. However, this is quite decently handled by Carbon while ensuring that none of the three core areas (reliability, efficiency, and low pricing) are compromised and the companies integrating our solution always get the best deal.



Making Mass Payouts Easier for Your Business

Making Mass Payouts Easier for Your Business

Whether we talk about paying the employees, vendors, or any other stakeholder associated with the business, payment disbursement needs to be as efficient as possible to ensure that an organization can focus on more important matters. This is where mass payouts come into play and before exploring different platforms in detail, let’s just understand what it means.

What are mass payouts?

The people whom you are supposed to pay might be in a different country, time zone, accepting less popular fiat currency and above all, their payment method might be different from the mainstream ones. If That's the case and you have, let's say 1500 employees, you would spend days sending them the payments, whereas the entire process can be automated with the help of mass payouts, also known as batch payments.

With the help of this feature, you just have to click a button and release online payments to all of the payees so they can get reimbursed instantly while ensuring that the payments can be tracked as well. It's also worth noting that this entire mass payout activity can be scheduled,implying that none of the employees are required to click a button for releasing the payments as this is handled by the system itself on the specified date and time.

As a result of this approach, organizations can save time and money while enhancing their overall output and processes.

It should also be noted that two of the most widely used mass payout methods are file and API, which means that organizations either have to upload a huge file of all the payee details (must be organized correctly for synchronization) or they can simply integrate an APIwith their system and let the 3rd party platform handle the payments automatically.

A comparison of top mass payout companies

Since we are living in an era dominated by FinTech, there have been an array of companies in the last two decades who have tried their best to capture the market, but all of them have pros and cons. Let’s explore them in detail and understand as to why Carbon offers the best alternative.

Paypal

Pros:

  • Entertains most of the countries
  • Easy integration

Cons

  • Higher fee for vendors
  • More programming efforts to handle thousands of payments
  • Recipient needs to have a PayPal account

Payoneer

Pros:

  • More widely accessible
  • Good for SMEs and freelancers

Cons

  • Higher and complicated fee
  • Not user friendly
  • Unreliable and expensive for large businesses

Stripe

Pros:

  • Extensive documentation
  • Used by many large-scale businesses

Cons

  • Higher fees
  • Limited coverage

Carbon

Pros:

  • Fast
  • Reliable
  • Easy integration
  • International coverage
  • Simple fee structure

Paypal

Undoubtedly, it happens to be the most popular option and is the preferred choice for conducting all e-commerce activities by the majority in the US, UK, and other developed countries. While the feasibility is quite decent and Paypal happens to be the oldest and most renowned one in the niche,is it really the best choice when we talk about mass payouts?

Well, to begin with, their integration is quite easy and they support most of the countries. Even if you try to integrate your entire payment system with Paypal’s mass payout, someone would be able to develop and integrate the entire system in less than 2 weeks since the documentation is elaborative and the platform is so mainstream.

However, it comes with some cons as well – for instance, not everyone has access to Paypal due to geographical limitations and above all,their transaction fee for vendors is significantly higher than some competitors.

Apart from all this, they have another disadvantage as well.If your organization decides to scale up and handle several thousand payout via Paypal, a huge programming effort would be required. Thus, rendering them suitable for smaller organizations only.

 

Payoneer

Whether it’s mass payouts or requesting payments from clients, Payoneer has made a decent place in the industry and is quite a popular option for freelancers and SMEs. Moreover, since Paypal has some geographical limitations, Payoneer has taken that segment of the market and established itself to serve a greater audience.

However, it has a maximum daily transfer limit that might not be suitable for several large businesses looking to give higher salaries.Their interface is not quite friendly as well and several steps need to be performed before you start using the platform.

 

Stripe

This is quite a well-established company and several businesses prefer it for the robustness, reliability, and extensiveness of developer options. So, despite having a huge customer base, Stripe is also getting out of the competition gradually due to its high pricing, complicatedAPI, and slow transaction speed.

 

Carbon

Now that you have explored the pros and cons offered by the mass payout companies operating for well over a decade, let’s talk about Carbon That effectively resolves all of the problems currently being faced by companies.

To begin with, it is worth noticing that the integration process is incredibly simple as the integration requires two lines of code only, and your entire platform is synchronized with about 100 markets. If you look at it, you don’t even have to be a geeky developer to do so!

Apart from that, while several competitors focus on localized markets, we extend our reach Internationally and give you more reasons to trust us.

Since your vendors and beneficiaries could be in a variety of countries, Carbon handles the payments transfers to their local banks as well, while taking care of the local compliance regulations.

 

Conclusion

So, it is quite evident that while mass payouts are becoming a growing concern and need of the era, there were not many solutions tofacilitate the companies from all aspects. However, this is quite decently handled by Carbon while ensuring that none of the three core areas (reliability, efficiency, and low pricing) are compromised and the companies integrating our solution always get the best deal.



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