In the fast-paced world of global business, the ability to make quick, efficient, and secure payments to vendors, contractors, and other partners is essential. For two-sided marketplaces, where payments flow between users and service providers, having a reliable payout system is not just important—it’s critical. This is where the power of a versatile payout API comes into play, offering businesses the tools they need to facilitate seamless payments across the globe. And when it comes to advanced payout solutions, borderless is leading the way.

How the borderless Payout API Works

The borderless Payout API is designed to be a comprehensive solution for businesses that need to manage payments to multiple recipients across various countries. Here’s how it works and why it’s crucial for businesses:

Add Funds or Connect To Payment Processor

• Your Bank: Top up your balance using direct debit or send funds via a wire.
• Connect to Payment Processors: borderless can connect to one or multiple credit card payment processor such as Stripe or Square or Braintree. borderless provides Virtual Receiving Accounts to connect to credit card processors in 35+ currencies.
• From Clients: The same Virtual Receiving Accounts that can be connected to payment processors can be used to collect bank transfers from clients as a local. borderless offers local bank accounts in 25+currencies avoiding the need to create global entities and bank accounts. It also allows for easy transfer of funds between parent and subsidiaries.

Select Payment Options & Payout Experience

• Pay to Emails: With borderless, you can easily send payments directly to an email address. The recipient can claim their funds by signing up for borderless, or without signing up, by simply entering their banking information, card details, or wallet information such as PayPal or Venmo. This flexibility ensures that your vendors and contractors have multiple ways to receive their payments, making the process as convenient as possible.
• borderless LINK: borderless LINK is a powerful tool that allows you to embed an iframe within your application with just a few lines of code. This iframe leverages global banking requirements across 120+ countries, offering real-time bank data validation and creating contacts or recipients directly within your platform. The best part? You don’t need to store sensitive banking information, making it both secure and compliant. This is our most popular option because it simplifies the integration process while ensuring maximum reach and reliability.
• Pay to borderless Handles: With borderless, your users can create unique Handles, similar to Instagram usernames, which they can share to receive payments. There’s no need to collect banking information or even emails—just send the payment to the Handle, and borderless takes care of the rest. This method not only enhances user privacy but also streamlines the payment process, making it incredibly user-friendly.

Make Payments – Simple, Fast & Scalable Payouts

Why It’s Important for Two-Sided Marketplaces

Two-sided marketplaces, such as those connecting freelancers with clients or service providers with customers, depend on smooth and efficient payment processes to function effectively. Here’s why having a robust payout API like borderless is essential:

Speed:

Time is money, especially in a global market. borderless ensures that payments are processed quickly, enabling your vendors and contractors to receive their funds without unnecessary delays. This speed can be a significant advantage, helping to build trust and reliability in your marketplace.

Cost-Effectiveness:

By using the borderless Payout API, businesses can reduce the cost of sending payments across borders. borderless leverages a local yet global infrastructure using the most cost efficient payment rails. Traditional payment methods often come with high fees, especially when dealing with international transactions. borderless offers a more cost-effective solution, allowing you to save money on every transaction.

Error Reduction:

Payment errors can be costly, both in terms of time and money. With borderless, payment errors are reduced by 89%, thanks to features like real-time bank data validation and the ability to pay directly to Handles. This accuracy ensures that payments reach the right person, every time.

Payment Processor Agnostic:

borderless can connect to one or multiple credit card payment processor. borderless provides Virtual Receiving Accounts to connect to credit card processors in 35+ currencies. This allows marketplaces flexibility to switch providers, or if one fails keeps their platform active by diverting traffic from one provider to another creating strong redundancy.

If you are a marketplace utilizing Stripe Connect and are looking for an alternative, read the following blog post article Stripe Connect Alternatives: The borderless Guide.

The borderless Advantage

Using the borderless Payout API offers several key benefits:

Customization and Branding:

You can white-label the entire payment experience, embedding it seamlessly within your own application. This allows you to maintain consistent branding and a smooth user experience, making the payment process feel like a natural part of your platform.

Payout Method Flexibility:

One platform and API to pay anyone the way they want to get paid. Recipients can get paid to their bank, VISA and MasterCard or wallet information such as PayPal or Venmo.

Global Reach:

With support for over 130 countries, borderless gives you the ability to send payments to recipients almost anywhere in the world. This global reach is essential for businesses looking to scale internationally and cater to a diverse user base.

Security and Compliance:

Security is a top priority for borderless which is SOC 2 certified. By not storing sensitive banking information and leveraging borderless to adhere to global compliance standards, borderless ensures that your transactions are both secure and compliant with relevant regulations.

User-Friendly Integration:

Whether you choose to pay via email, use Borderless LINK, or opt for Handles, the integration process is straightforward and user-friendly. This ease of use makes it simple for businesses of all sizes to implement and manage payouts efficiently.

Conclusion

In today’s interconnected world, businesses need a reliable, efficient, and secure way to handle payouts to vendors, contractors, and other partners. The borderless Payout API offers a versatile solution that meets the needs of two-sided marketplaces and global businesses alike. With features like pay-to-email, Borderless LINK, and Handles, borderless ensures that your payment process is not only fast and cost-effective but also reduces errors and enhances user privacy. Plus, with the ability to white-label and customize the payment experience, borderless seamlessly integrates into your brand, providing a superior experience for both you and your users.

Ready to revolutionize your payout process? Explore the power of borderless Payout API today and take your business to the next level, contact our team to schedule a demo today.

About Us

borderless, a global payments company that provides a payout software and API to companies to process payments to 120+ countries. borderless specializes in payouts utilizing local payment rails, real-time payment rails, and SWIFT to facilitate faster and more efficient payments. We invite you to explore how borderless can assist your business or digital platform in navigating local and international payouts. To learn more, contact our team to schedule a demo today.

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