TrueLayer academy: Payouts 101

Lisa Golden
Lisa Golden, Digital Content Producer
27 Jul 2023
payouts 101

Every time you pay a customer, it's an opportunity to keep them loyal. Whether it’s customers requesting refunds, users withdrawing their winnings or sellers accessing their earnings – payouts should be instant and easy.

But traditional payouts are slow to settle, compliance is over-complicated and the experience is fragmented.

But we live in a world where people demand instant, you have to get payouts right. That’s why we’ve created this five-part video series: Payouts 101. Understand how payouts work, the problems of existing payout processes, what customers expect from their payouts experience and how your brand can start optimising your own payouts process.

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Learn everything you need to know about Payouts in under 15 minutes
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What exactly are payouts?

A payout is when funds are transferred from a merchant's account to a recipient's account. You may also recognise them as withdrawals.

Examples of payouts include:

  • a customer withdrawing their funds from a budgeting app

  • an iGaming player taking out their winnings

  • a marketplace paying out earnings to a seller.

When these transactions happen quickly and seamlessly, everyone wins. But when customers have to wait days to receive their money, they understandably get frustrated.

What will you find in Payouts 101?

Episode 1: The payouts problem

If you want to build payouts into your brand’s existing payment journey, you can typically choose from card payments and manual bank transfers. These options are slow (taking up to five days to settle) and bank transfers are prone to error. Even ‘faster’ alternatives, like Visa Direct can still take up to six hours.

Episode 1 of Payouts 101 explores existing payout options in more detail, as well as the problems these options cause your business and your customers.

Watch episode 1:

Episode 2: The payouts landscape

Understand exactly which industries and use cases would benefit from instant, automated payouts.

For example, in iGaming, payouts are a key feature that enable players to withdraw their winnings. In the wealthtech space, there are investment, budgeting and savings apps where customers don’t want to wait days to access their funds. Proptech firms payout rent to property owners. Even in the gig economy, payouts are key to keeping vendors and freelancers happy.

Watch episode 2:

Episode 3: Do consumers really care about payouts?

Slow payouts are annoying, but will they actually affect customer behaviour? The short answer is yes. Customers want speed. They don’t want to wait days to receive their earnings or their winnings. 8 in 10 igaming players think fast payouts are important, as do two-thirds of online investors.

A poor payouts process puts hard-earned customer loyalty at risk.

Episode 4: What does a good payouts experience look like?

Customers want faster, smarter payouts and traditional payouts can’t meet those needs. So what does a good payouts experience look like? And how can you start making that a reality? Episode 4 explores instant payouts done right will be easy to integrate, boost customer retention and save your business time and money.

Episode 5: Bringing instant, automated payouts to your business

Bringing Payouts 101 to a close, we explore how TrueLayer Payouts work and how you can integrate them into your existing payments experience. We’ll look at the features of TrueLayer Payouts and what they look like for your business and your customer’s payment journey.

Ready to talk more about instant payouts?

Book a free payouts consultation with one of our payment experts. Learn how TrueLayer’s Payout solution could build customer loyalty and reduce costs for your business.

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