Finix, renowned in the FinTech sector for its innovative solutions, announced today the launch of Payouts, its newest standalone product line. This product is set to transform how businesses send and receive payments, irrespective of their engagement with the broader Finix payments platform.
The launch of Payouts comes as a response to the frequent challenges businesses face in disbursing funds. Traditional payment processes are often hampered by siloed payment flows and the complexity of managing multiple vendor relationships. Payouts aims to streamline these processes, offering a more efficient, cost-effective way for businesses to manage their transactions.
Finix is a full-stack payment processor and infrastructure provider, known for powering prominent clients such as Clubessential, Passport, and Kabbage. Catering to a range of clients, from startups to publicly traded companies, Finix delivers a comprehensive payments experience. Their services span accepting payments to enhancing customer experiences and facilitating revenue growth.
Payouts by Finix is a versatile solution, enabling businesses across various industries to send money efficiently and at scale. It leverages a single developer-friendly API, catering to diverse needs such as B2B payables, gig economy wages, and insurance claims. The product ensures fast, reliable money movement to one or many recipients simultaneously.
Finix’s Payouts stands out with its 24/7 card payout availability, real-time bank account validation, and flexible payment maximums tailored to different industries. The platform, integrating with ACH, real-time payments, and card services through Mastercard Send™ and Visa Direct, offers an all-in-one payment solution with embedded compliance and detailed reporting capabilities.
Finix CEO Richie Serna said, “Businesses can encounter many challenges when sending money at scale. Teams may face cumbersome technical integrations, manual payment operation workflows, and cash flow challenges, which can create a reconciliation nightmare.
“With Finix Payouts, companies of all sizes can get started in a few hours, configure their payment flows and methods to satisfy their business needs, help alleviate complications and intermediaries, and start sending money without spending an extensive amount of time or resources. Instead, they can focus on what matters most: their product, customers, and business growth.”
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