Deposit & Payout Manual
Introduction to Deposit & Payouts
In today's fast-paced digital economy, businesses must manage a variety of financial disbursements, including payments to vendors, freelancers, partners, and customers. However, manual payout processes are often time-consuming and prone to errors, leading to inefficiencies that hinder growth and operational agility. This is where automated payout solutions come in, offering businesses a streamlined, secure, and scalable method for handling payments, rewards, and other disbursements. Our platform is designed to address these challenges by simplifying the payout process, ensuring timely and secure delivery of funds.
PayTabs now supports multiple disbursement options, clarified below:
- External Payout: Supported through APIs and the merchant dashboard, allowing flexibility and scalability in processing payments.
- Split Payout: Supported only through our APIs, but merchants can monitor transactions and statuses through the dashboard.
- Internal Payout: Managed and created exclusively from the merchant dashboard, tailored for internal settlements and automations.
Different Payout Types Supported in PayTabs
PayTabs provides you with three primary types of payouts: External Payout, Split Payout, and Internal Payout. Each payout option is tailored to meet different business needs, whether for external vendors, marketplace commission structures, or internal financial settlements.
1. External Payout
External Payout allows businesses to disburse funds to third parties outside the organization. Using PayTabs as a payout service provider (PSP), merchants can either operate via an aggregation model or opt for a payout service. External Payouts are supported through APIs and the merchant dashboard, making the process seamless for merchants.
Key features of External Payout:
- Batch Requests: Merchants can send payout requests in batches, either through API integration or the merchant dashboard. This allows for large-scale payments to be processed efficiently without manual intervention.
- Flexible Payment Distribution: External Payout supports built-in split payouts, perfect for marketplaces and commission-based businesses.
- Automated Revenue Sharing: Payments can be split between multiple parties involved in a transaction, such as sharing marketplace fees between a vendor and the platform.
- Simplified Reconciliation: The system automatically handles calculations and generates PSP split reports, reducing the complexity of manual payment tracking.
2. Split Payout
The Split Payout option is designed to automate the distribution of funds between multiple parties. This feature is ideal for marketplaces, gig economy platforms, and businesses that need to distribute revenue between various stakeholders. Split Payouts are supported only through our APIs but can be monitored and tracked from the merchant dashboard.
Key features of Split Payout:
- Automated Revenue Sharing: Revenue can be split automatically between different entities, such as merchants, suppliers, or platform operators.
- Built-in Split Mechanism: The payout system can handle the entire revenue-sharing process without manual intervention, ensuring accuracy in disbursements.
- Simplified Tracking and Reporting: Merchants can access detailed reports that show how payments are split, eliminating the need for manual calculations.
3. Internal Payout
Internal Payout is focused on automating merchant settlements within the organization. This payout type is primarily used for our own PayTabs merchants to streamline daily settlement processes. Internal Payouts are exclusively created and managed from the merchant dashboard.
Key features of Internal Payout:
- Automated Settlements: Merchant payouts are generated automatically as part of the daily payout file, reducing the need for manual intervention by the finance team.
- Approval Workflow: A two-level approval process ensures that payouts are verified before disbursement, enhancing security.
- Real-Time Status Updates: Merchants and finance teams can track the real-time status of payouts, making the process transparent and efficient.
- Reduced Manual Work: The automation of payout processes significantly reduces the manual workload for finance teams, increasing efficiency and accuracy.
Since Managing Internal Payout will be handled totally through PayTabs Merchant Dashboard, hence you would find a detailed manual for how to handle it within our PayTabs Support Portal through the Accounts Menu via Merchant Dashboard tutorial article.
Comparison of Payout Types
| Feature | External Payout | Split Payout | Internal Payout |
|---|---|---|---|
| Target Users | External merchants, vendors | Marketplaces, commission-based platforms | PayTabs merchants |
| Batch Requests | Supported via API or merchant dashboard | Supported via API only | Not applicable |
| Revenue Sharing | Supported, split payments between multiple parties | Automated revenue sharing between multiple parties | Not applicable |
| Approval Workflow | Not specified | Not specified | 2-level approval for finance team |
| Automated Settlements | No | Yes (via built-in split mechanism) | Yes, auto-generated for daily payouts |
| Real-Time Status Updates | Not specified | Yes, via dashboard monitoring | Yes |
| Manual Work Reduction | Yes, through batch processing and automation | Yes, through automated splitting and reporting | Yes, through automation and workflow approval |
| Supported Platforms | API and Merchant Dashboard | API (can be monitored via dashboard) | Merchant Dashboard only |
In summary, our payout platform offers flexible solutions for handling various types of disbursements. Whether you need to send bulk payouts to external vendors, manage complex revenue-sharing arrangements, or automate internal merchant settlements, our platform ensures efficiency, security, and scalability.
You can learn all the details related to these Payout options by checking the below cards: