Checkout.com in real-time payouts service launch

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Checkout.com has announced that it will pair up with Visa Direct to offer a new product, called Payouts, which is designed to help business-level customers in sectors such as the gig economy and digital wallet provision make outward payments.
  • These firms will be able to make payments to customers in nearly 175 countries around the world, and in total there are expected to be over 4bn bank cards that can receive such instant payments.
  • A senior spokesperson for the company said that his firm was looking forward to collaborating with “agile enterprises” that weren’t satisfied with the “legacy payout systems” on offer.

A leading provider of cloud-based international money transfers has announced the launch of a new product.

Checkout.com’s Payouts service will give e-commerce providers the chance to send payments to customers.

Customers who are eligible for the new service will be able to receive such payments quickly, and have them paid directly to their bank cards or accounts.

The payments will be able to be made instantaneously.

Geographically, it will be possible for e-commerce merchants to pay to more than 4bn bank cards in nearly 175 nations around the world.

A wide range of sectors are expected to benefit from the new service.

It is believed that digital wallet providers will be on the list, as well as gig economy firms looking to pay their workers.

Firms using the service will be able to access interbank foreign exchange rates.

This is expected to provide additional cost-effectiveness for merchants using the platform.

The new product will be delivered in collaboration with Visa Direct.

In a statement, the chief executive officer and founder of Checkout.com said that he thought that his company’s offer had the potential to “transform payouts”.

Guillaume Pousaz said that his company was providing merchants with the chance to change the way that they make payouts.

“Checkout.com is equipping merchants with the technology to transform payouts. From a functional component of business to a strategic growth lever to drive exceptional experiences,” he explained.

He added that companies that are nimble and innovation-friendly in nature were often finding that traditional payments weren’t suitable.

“Agile enterprises are looking for ways to innovate on the payments journey. Legacy payout systems simply can’t scale with them,” he explained.

He said that his firm’s product would tackle these issues and increase the amount of freedom in the money movement system.

“Checkout.com’s payouts solutions will give merchants the ability to facilitate the movement of money more freely,” he said.

Checkout.com already has a number of high-profile clients on its books, including MoneyGram and Coinbase.

Firms such as Wise and Curve are also represented on its client list.

The cross-border payments industry is innovating all the time – if you would like to see what features the other major providers in the sector currently have on offer for you, you can do this by heading to this link and reading some reviews.


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