At borderless, we value flexibility. That’s why we provide a diverse array of payment methods that are built to fit your business. With the simplicity of our three main payment options, borderless produces an average 74% increase in administrative efficiency and 89% payment error reduction. Keep reading about the ways you can pay with borderless and revolutionize global payments for your business.
Ways to Pay With borderless
We offer three distinct ways to complete payouts: bank accounts, @handles and email addresses. Whether you are tech enabled and utilize our Payouts API or you have an admin team that processes via CSV and dashboard, we have different ways to deliver funds designed to meet your specific business needs. All three of these options are described below.
The most traditional payout option that we offer is payment via bank account. Through this method, your business gathers banking information from clients and then uploads that information to borderless. Then we take care of the rest.
- Want to pay to banks without collecting sensitive banking information? See email and @handles below.
- Want to pay to banks without collecting sensitive banking information while keeping the experience within your application? The borderless Link widget provides the ability to integrate our on-boarding widget that can be white labeled while keeping security and data liability a priority.
borderless works to optimize both your time and money. We offer lower exchange rates than banks, PayPal and many other payment platforms. Unlike your bank, we also have no hidden fees, automation using CSV and API, the borderless Link widget, customized pricing to fit your business and more! Our rapid payment processing with real-time tracking ensures that you won’t be waiting days for your payments to be completed.
The second and most recommended payouts option is using our @handles. To use this method, users need to create a borderless account. During the account creation process, your clients will make a unique identifying @handle. The @handle works just like handles on social media, for example Instagram, Twitter, Facebook or other similar platforms. When making payouts, you will then search for your client’s @handle and proceed.
@handles allow your business to complete global payments easily. Using them means that your business will never have to collect any sensitive banking information.
The last payouts option we offer is payment to email addresses. With this feature, all your business needs to do is enter the email address of the payment recipient. If the recipient is a borderless user, the funds will be deposited directly to their bank account. If they are not a borderless user, then, this recipient will receive an email to claim their funds. That’s it! With our real-time tracking, you will be able to see if your recipient reacted to the email and received their payment. A benefit of this option is that the payment recipient is not required to have a borderless account.
Security Made Simple
Did you know that nearly half of U.S. companies experience data breaches? At borderless, we take security very seriously and use bank-grade security protocols to keep your information secure. All three of our payment options ensure that your transactions are kept safe. Our platform allows you to limit your liability by never having to collect banking information again. By paying with @handles or email addresses, no sensitive information is needed to complete transactions. In our world today, we know that data security is often threatened. borderless allows your company to take control and limit data liability.
Can I Pay Non-borderless Users?
Payouts to non-borderless users without signing up
At borderless, you can payout anyone anywhere even if they are not borderless users! You can pay them directly to their bank account if you have their bank details. They are not required to sign up.
Payouts to non-borderless using only an email address
All you need is their email address and you can send payments. Using our email address payment option, you can send and track the payment status in real-time with just a few clicks. When the recipient receives the email, all they will need to do is follow a few short steps to have their funds put directly into their bank account.
If your favorite vendor is not currently a borderless user – don’t worry! We make it easy to set up an account and get started. We offer a referral reward if you refer us to a business that is currently not on borderless.
Current payment rails
With our API platform, we offer a diverse range of payment rails. Our current options are described in more detail below.
- iACH – This payment method is an electronic fund transfer between banks that works on a global scale, yet provides local bank delivery. That means we avoid bank wire fees for outgoing and no incoming wire fees for recipients.
- RTP – Real time payments allow for funds to be transferred in seconds. RTP are available in 45+ countries.
- SWIFT – This payment method acts like an international wire as an electronic payment that can be received globally.
At borderless, we are always striving to have the latest and greatest in payments! That’s why we will soon be expanding our payment rails. We are looking to incorporate VISA/ MasterCard cards, mobile wallets, and cash pickup to our network. To hear more about these new developments, make sure to keep updated with all the borderless news!
With our three payout options, I hope you can now see that borderless is the payment solution that makes it easy for your business. Want to see our payout methods in action? Schedule a demo, contact our team, or create an account today!