Discover how Circle Payouts can help you process mass payouts seamlessly and globally using dollar digital currency.
Global payouts involve the transmission of funds from a payor in one country to a recipient in another. These types of transfers have historically faced a number of barriers, including high fees, currency conversion issues, and lengthy transaction times.
For global mass payouts, these issues can prove especially challenging. For instance, a business planning to send multiple cross-border payouts could find the total fees involved could make processing the transfers prohibitively expensive.
Slow transaction times constitute another challenge that has long faced senders of global payouts, as the need to perform currency conversions and navigate bureaucratic barriers can delay transactions by hours or even days.
Given the rapid pace of today’s information-fueled economy, encountering delays in processing payments can impede your ability to make the most of business opportunities.
The development of dollar digital currencies has provided an alternative to the traditional system for sending global payouts by enabling users to process payouts at a cost-efficient price point.
The use of stablecoins has improved the situation for those who previously found it too expensive or inefficient to send global payouts. The ability to facilitate rapid, inexpensive global payouts has made it more economical to transmit payments across borders.
The resulting democratization of global payouts has enabled many more users to access this service than had previously been the case.
To efficiently process global payouts, a platform must provide users with the ability to program payout details so that the process happens automatically. This feature is offered in Circle Payouts, allowing users to rapidly send funds to participants across the globe.
This functionality is ideal for businesses that need to execute complex, multi-directional payments en masse.
The Circle Account uses a global payout infrastructure that provides an easy-to-use template for sending fast, low-cost payouts to customers, vendors, and suppliers around the world.
Circle Payouts enables you to automate payment workflows both for funding payouts using payments accepted with Circle or directly from funding your Circle Account.
Payouts can be sent using Circle’s API through multiple rails in the form of USD Coin (USDC) and other crypto like BTC and ETH.
Circle’s APIs allow you to simplify the payout process and save hours of operational overhead while reducing human error. Our APIs also let you send funds back to your local bank or Circle Account via API for a full end-to-end workflow.
By adding efficiency to global payouts, Circle Payouts unlocks a number of use cases. Examples include:
Circle offers a cutting-edge solution for storing and transacting in digital and fiat currencies. Using Circle Payouts in conjunction with USDC and other Circle products also allows you to handle all of your transactional needs in a single location. This makes it easy to program and send payments to multiple recipients — without incurring uneconomic levels of transaction fees in the process.
The platform offers the following features to help optimize your cash management efforts:
Getting started by opening a Circle Account can help you benefit from payouts in digital dollars and get ready for what’s next for payments, finance, and internet commerce.