Renowned FinTech trailblazer, Finix, took a monumental step today with the official launch of Payouts, a cutting-edge standalone product poised to redefine how businesses execute payments.
This revolutionary offering is set to transcend the constraints of conventional payment methods, providing businesses with a seamless approach to sending and receiving payments, independent of their involvement with the broader Finix payments platform.
The introduction of Payouts addresses the prevalent challenges businesses encounter in fund disbursement. Traditional payment channels often grapple with fragmented payment processes and the intricacies of managing diverse vendor relationships. Payouts by Finix emerges as a solution to streamline these complexities, presenting a more efficient and cost-effective avenue for businesses to orchestrate their transactions.
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As a distinguished full-stack payment processor and infrastructure provider, Finix has garnered acclaim for empowering notable clients like Clubessential, Passport, and Kabbage. From startups to publicly traded enterprises, Finix delivers a holistic payments experience, spanning payment acceptance, customer experience enhancement, and revenue growth facilitation.
Payouts by Finix stands out as a versatile solution, empowering businesses across diverse industries to facilitate efficient and scalable money transfers. Anchored by a single, developer-friendly API, Payouts caters to a spectrum of needs, including B2B payables, gig economy wages, and insurance claims. The product ensures swift and dependable money movement to one or multiple recipients simultaneously.
What sets Finix’s Payouts apart is its 24/7 card payout availability, real-time bank account validation, and adaptable payment maximums tailored to distinct industries. Seamlessly integrating with ACH, real-time payments, and card services through Mastercard Send™ and Visa Direct, the platform offers an all-in-one payment solution, enriched with embedded compliance features and detailed reporting capabilities.
Richie Serna, CEO of Finix, expressed, “Finix Payouts empowers companies of all sizes to initiate their payment journeys swiftly. By configuring payment flows and methods to align with their business needs, companies can overcome technical intricacies, streamline operations, and redirect focus towards product innovation, customer satisfaction, and overall business expansion.”
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About Finix
Finix is a fintech company that aims to establish the most user-friendly ecosystem for financial services in the history of the world. It is for this reason that we are in the process of constructing the global operating system for fintech, beginning with payments.
Finix provides businesses with everything they require to produce a payments experience that is of world-class quality. Finix is utilized by leading SaaS, marketplace, and e-commerce platforms in order to provide the rapid acceptance of payments, the automation of workflows, the delight for customers, and the rapid growth of revenue.
Finix enables businesses to exercise a higher degree of control over their payment processing and enable them to retain a larger portion of the processing costs that merchants are required to pay. When compared to the use of traditional processors, the software offered by Finix has the potential to assist medium and big enterprises with earning 0.4% more on each transaction that is processed. Bain Capital Ventures, Homebrew, Sequoia Capital, and other investors invested a total of $55 million in the company.
The company has more than fifty clients, one of which is Lightspeed, a Canadian business that specialises in the sale of software for credit card processing and processes seventeen billion dollars’ worth of transactions annually. CEO Richie Serna, who is 32 years old and a former consultant at Booz & Company, and Sean Donovan, who is 36 years old and formerly worked for a large payment processor called Vantiv (now WorldPay) are the cofounders of the company.