Learn how doing payment disbursement right supports effective business management and good working relationships.
Disbursing funds around the world is increasingly complexity and involves a complicated network of disparate systems and processes. By choosing the right payment disbursement solution, organizations can simplify processing disbursements at a lower cost, while also optimizing for cash flow and security.
What is a Disbursement and How Does it Differ From a Payment
A payment is typically money moving from a customer to a seller, while a disbursement is typically money flowing from a business or entity to a beneficiary such as an employee or freelancer. A payment is made directly to the party that provided a good or service. As the volume of payments and payees a business manages increases, disbursements accounts are set up to make payments. Unlike payments, funds disbursements require that detailed information is recorded for each transaction to provide insights into where the cash flow is coming and going, allowing a business to manage cash flow and monitor business health.
What Features do the best Payment Disbursement Solutions offer?
For businesses looking to develop in new markets, offering faster payouts will keep workers and sellers happy and loyal, and increase your visibility in a global market. When evaluating payment disbursement and mass payout solutions, a number of factors need to be considered to ensure that cash flow is managed efficiently and payments and payees are protected from fraud.
How Fast are Payments Disbursed?
Faster payment systems and processes aren’t just limited to ecommerce; they are also enabling real-time disbursements of payments to customers, suppliers and employees. Traditional payment methods used for disbursements, including wire transfers and automated clearing house (ACH) payments, take time to process. If these are international payments the process takes even longer. Expectations are rising, and merchants must ensure the speed of disbursements can keep pace.
Can you Disburse Payments Everywhere you do Business?
A global payout infrastructure that supports international expansion is complicated to build and difficult to find. The best disbursement solutions need to reach workers, sellers, suppliers and contractors wherever they are located and allow them to receive funds through their preferred local payment methods like ewallets, bank transfers, cards and cash.
Are Disbursement Payments Secure and Compliant?
Cross-border payments require integration with banking partners and vendors to understand and manage compliance obligations and adhere to regulatory requirements. These differ from country to country and are subject to frequent changes, so the ideal disbursement solution needs the functionality to continuously keep user data and transactions secure.
How User-Friendly is the Disbursement Solution and Does it Offer Reporting?
The digital economy is growing at more than 10% per year. As your business develops to expand internationally, ensure that it’s easy to keep track of your global disbursements. Choose a disbursement solution with a user-friendly interface that provides insights into global disbursement activity, transaction reporting and key metrics.
Is the Disbursement Solution Customizable for your Needs?
Just as your business goals change, so too can your disbursement needs. That’s why the best disbursement solutions were designed with developers in mind and are easily customizable for a range of countries, currencies, integrations, and use cases.
The Best Payment Disbursement Solutions Simplify Local and International Payouts
Rapyd Disburse enables your business to pay more people and companies wherever they are located, using their locally preferred payout methods including ewallets, banks, cards and cash. Rapyd’s simple user interface allows you to enter new markets faster and start disbursing funds globally all while managing regulations, compliance and identity verification.
With the right disbursement solution, you can unlock the potential of any market, gain wider coverage and use the payout methods that matter most to your beneficiaries.