How platforms and marketplaces can use instant payouts to supercharge growth
The ability to facilitate single-party instant payouts may have been a decisive competitive advantage in years past. However, today’s complex multi-vendor platforms and marketplaces need more advanced capabilities. As the CEO, founder, or CFO of one of these businesses, much of your ability to compete, grow and scale now depends on whether your platform can efficiently facilitate instant payouts to multiple vendors - known as your influencers, creators, giggers, sellers, etc.
Drive competitive advantage and loyalty
We live in a digital and on-demand world where individuals and businesses have become accustomed to getting almost anything in an instant. Yet, most platforms and marketplaces take several business days to complete an electronic transaction and several weeks to pay a vendor for their products or services. That’s way too long.
Influencers, curators, creators, and professionals all want to get paid faster! With instant payouts, payments can be made available in near real-time, 24 hours a day, 365 days a year.
The ability to pay vendors and suppliers instantly after product delivery is confirmed or a service is completed and invoiced is a game-changer. Imagine having the capability to payout vendors in near real-time, in a simple manageable manner while the buyer payment arrives later.
By enabling your vendors to get paid more frequently, you accelerate funds flow within your platform or marketplace and help balance vendor cash flow, ultimately allowing them to grow their business faster. That’s a compelling competitive advantage that will help attract new vendors. It will also increase the loyalty of your current vendors, which is becoming increasingly important as competition heats up.
Facilitate instant payouts with maximum efficiency
To enable instant payouts, marketplaces need efficient accounting operations. For example, manual reconciliations are time-consuming and costly. They can end up preventing your business from scaling and become a nightmare when you need to disburse payouts to hundreds or thousands of vendors and suppliers. There's a need to manage the billing correctly, ensure the correct amounts with buyers and vendor bank accounts, and cater to various preferences in how vendors wish to get paid.
With instant and automated payments reconciliation, you can present accurate real-time balances and payout multiple vendors immediately. This enables your platform or marketplace to scale without having to grow your back-office accounting team.
Grow your business with UNIPaaS instant payouts
UNIPaaS enables you to deliver instant payouts through bank transfer, push to card, or digital wallet. Whether you need to pay individuals like influencers and gig workers, or larger companies, UNIPaaS gives you the flexibility to support diverse payment needs.
With UNIPaaS, you can also automate and dynamically schedule payouts and manage real-time eWallet balances for your entire platform ecosystem so you can scale your operations with confidence.
Find out more about UNIPaaS instant payouts, or book a demo with one of our payment experts.