FinTech: Checkout.com Launches Payouts Product For Real-Time Direct Payments To Cards And Bank Accounts

April 14, 2021 | FinTech, News
https://dailyalts.com/wp-content/uploads/2021/04/ecommerce-3562005_640.jpg

Checkout.com is a cloud-based global payment solutions provider.

Checkout.com, the payment solutions provider announced the launch of its Payouts Product that enables merchants to make real-time payments to billions of cards and bank accounts globally – through just a single technical API integration with Checkout.com.

The new product enables the remittance, digital wallet, travel, insurtech, online content, and gig economy industries to effect multi-country, multi-currency financial transfers. (Checkout.com)

Checkout is leveraging its all-new, built-from-scratch, payments infrastructure that straddles the whole payouts value chain. Merchants can therefore make payments directly to over four billion cards in over 174 countries (Card Payouts) and seamless payments to local bank accounts in more than 40 countries (Bank Payouts) around the world.

Additionally, for merchants’ internal teams, such as Finance or Risk, the company is offering data-driven, global payouts so they can benefit from straight-through-processing, comprehensive reporting, and reduced manual handling.

The transformation of payouts

“Checkout.com is equipping merchants with the technology to transform payouts from a functional component of the business to a strategic growth lever to drive exceptional experiences, expand into new markets and boost profitable growth,” said Guillaume Pousaz, CEO and Founder of Checkout.com, in a statement.

Wise, formerly TransferWise, recently tied up with Checkout.com to launch its global card payouts feature, allowing the sender to transfer money instantly to a recipient’s payment card nearly anywhere in the world.

“It integrates with our existing customer experience and unlocks transfers to billions of cards worldwide through a single API,” said Aleksandr Povarov, Product Manager at Wise. “It’s a game-changer not to need a different integration for every region.”

Prospects of Payouts Product

The global real-time payments market in 2020 valued at $10.64 billion and is projected to expand almost ten-fold by 2028 to $99.73 billion, according to Market analysis from Grand View Research.

This highlights the scale of the opportunity in real-time payments.

To address that opportunity, Checkout.com raised $450 million in a Series C round led by Tiger Global in January. The round valued the startup at $15 billion.

Related Story:  Checkout.com Triples Its Valuation…Again

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/05/person-731319_640.jpg
Digital Assets: Colonial Pipeline Caved; Paid $5M Ransom To Hackers
May 14, 2021     Digital Assets, News

Though initial reports said that Colonial Pipeline would not pay a ransom to the hackers that brought the nation’s largest fuel pipeline to a halt, Bloomberg reported Thursday that the…

https://dailyalts.com/wp-content/uploads/2021/05/hand-898232_640.jpg
Artificial Intelligence: A Molecule For Alzheimer’s Created By Exscientia’s AI Enters Clinical Trials

Oxford, UK-based Exscientia uses AI to design and create drug candidate molecules satisfying complex therapeutic requirements with revolutionary efficiency. Joint research by Exscientia with Sumitomo Dainippon Pharma Co., Ltd. (TYO:…

https://dailyalts.com/wp-content/uploads/2021/05/clothes-5371410_640.jpg
Venture Capital: Vinted, The Marketplace For Previously Owned Clothing, Raises $303M
May 13, 2021     News, Venture Capital

Vinted, a European startup that runs a marketplace for used clothing and home goods, announced its raise of $303 million at a valuation of $4.5 billion, post-money. That valuation is…

https://dailyalts.com/wp-content/uploads/2021/05/68479250_1154496388083970_3396968202243145728_n.jpg
FinTech: German Regulator BaFin Hauls Up N26 On Money Laundering Lapses
May 13, 2021     FinTech, News

On Wednesday, Germany’s Federal Financial Supervisory Authority (BaFin) ordered challenger bank N26 to implement appropriate internal controls and safeguards and comply with general due diligence requirements to prevent money laundering…