{"id":541,"date":"2020-05-18T18:12:08","date_gmt":"2020-05-18T12:42:08","guid":{"rendered":"https:\/\/open.money\/blog\/?p=541"},"modified":"2023-07-05T14:55:18","modified_gmt":"2023-07-05T09:25:18","slug":"how-to-do-bulk-payments-with-payout-apis","status":"publish","type":"post","link":"https:\/\/open.money\/blog\/how-to-do-bulk-payments-with-payout-apis\/","title":{"rendered":"Bulk Payments, now made smarter with Open’s Payout APIs"},"content":{"rendered":"Whether you know it as bulk payments or mass payouts<\/strong> – they sure have been generating quite a buzz lately. Over the course of the past decade, popular tech companies have been battling churn rates and devising new formulas to scale vendor and partner payments.\u00a0<\/span>\r\n\r\nHaving said that – the pressing need for a smooth bulk payments solution<\/strong> is clearly a no-brainer!<\/span>\r\n\r\nWhile we had set out to simplify business banking as a whole, bulk payments have always been right on top of our checklist. We get how managing payments can be quite an uphill task for most businesses and with monetization networks exploding all around, bulk payments have made their way to the forefront of managing business finances.<\/span>\r\n\r\nWe\u2019re talking simple but smart, timely but reliable, payouts. Let\u2019s break this down for you, shall we \ud83d\udc47<\/span>\r\n\r\n \r\n

What are bulk payments?<\/b><\/span><\/h2>\r\nBulk payments<\/a> are a part and parcel of most businesses \u2014 whether you\u2019re a manufacturer, distributor, or an IT service provider. They come into play with all might when you have multiple (partners\/stakeholders\/vendors) involved in your business equation.\u00a0\u00a0<\/span>\r\n\r\nConsider this \u2014 You make payments on a per-sale basis for your business. This implies that your payment solution<\/a> ought to be as effortless as possible for you. Furthermore, this indicates that <\/span>payout APIs<\/i> are clear winners to all payout woes you face.\r\n\r\nIn other words, automating bulk payments<\/strong> end-to-end is the way forward for fast-growing businesses. True that – they settle for nothing but agility.<\/span>\r\n

Time to master, bulk payments<\/b><\/span><\/h2>\r\nWhile the fundamental functionality of a bulk payments solution<\/strong> is the ability to make payments to a larger group at once, you really need to look way beyond that.<\/span>\r\n\r\n\ud83e\udd41 *Plays a drum roll*<\/span>\r\n\r\n \r\n

Payout APIs, explained<\/b><\/span><\/h2>\r\nPayout APIs<\/span><\/a> help you send payments in one single API hit to all your vendors. Automate your business payouts & forget the pain of sending bulk payments on a daily\/weekly basis. That\u2019s right! Bid goodbye to manual means of doing payouts & make them instant – with payout APIs.<\/span>\r\n\r\nHere comes our showstopper – <\/span>Open\u2019s Bulk Payouts APIs<\/strong><\/em>, a robust and scalable bulk payments solution. With the payment ecosystem ruled by tech and Open APIs, we thought it would only be fitting to roll out a solution with<\/span> features that go beyond a simple cash transfer.<\/span>\r\n
Get set to <\/b>shoot fast, bulk payments anytime, anywhere with Open<\/b><\/h6>\r\n\r\n\r\nHere\u2019s what you\u2019re signing up for:<\/span><\/i>\r\n
Automated Payouts For The Win<\/b><\/h6>\r\nWith Open\u2019s Payout APIs<\/strong>, you get to programmatically make bulk payments<\/strong> in a single hit.\u00a0<\/span>\r\n
Can\u2019t get easier than this<\/b><\/h6>\r\nThat\u2019s right, all you gotta do is update payee details via Open\u2019s Payout APIs and you\u2019re ON!<\/span>\r\n\r\nHang on, we\u2019re not done yet!<\/span><\/i>\r\n
With instant payouts comes instant reports<\/b><\/h6>\r\nHit send and download your transaction report in a matter of a few seconds.<\/span>\r\n
Make no one wait<\/b><\/h6>\r\nWith Open\u2019s bulk payouts<\/a>, you can make payments on the dot and keep no one waiting, not even those pushy vendors!<\/span>\r\n

Get uber happy with bulk payouts APIs on Open<\/b><\/span><\/h2>\r\nLet\u2019s get down to the nitty-gritty!<\/span>\r\n\r\nCourtesy of the digital boom, taxi aggregator apps like Uber have got just about every other function on their platform automated.<\/span>\r\n\r\nNow let\u2019s say you own a taxi aggregator platform called \u2018Super\u2019. You\u2019ve developed a stellar app with plenty of features <\/span>designed to get you those instant bookings for a cab or an auto along with <\/span>real-time tracking and the whole works. <\/span>So now, does that mean you’re sorted?<\/span>\r\n\r\nHate to break it to you, but you\u2019re missing out on a crunch point of your business – <\/span>making real-time payouts to your drivers by the end of the day or even instantly!<\/span> So you turn to the banking pros<\/a> – Open.<\/span>\r\n\r\nThat\u2019s right, leave the heavy-lifting to us and we\u2019ll automate all your driver payouts. You sign up on Open<\/a> and head straight to the API Docs.<\/span>\r\n\r\nHere\u2019s something you\u2019ll love – Open offers a real-time Sandbox environment where you can first test out the APIs before the actual integration.\u00a0<\/span>\r\n\r\n