Global payments platform Worldpay, Inc. announced on Thursday the launch of its new payout solutions that give multi-national e-commerce businesses more choices to disburse funds to partners and customers across country borders. The company reported that it is expanding the service to more than 50 countries throughout the world.
According to Worldpay, the payout solution combines the enhanced Worldpay Bankout solution, which now delivers 154 direct bank disbursement destinations (up from 65), and Worldpay FastAccess, which is enabled by Visa Direct. Through the service, partners and customers will need no longer wait for days to receive funds or refunds as they now can obtain them through card in near real-time, along with mobile wallet or directly to a local bank account.
“Bankout is an ideal solution for businesses needing to make a large number of global payments to – or on behalf of – their customers and suppliers. With 89 new local markets, Worldpay now provides seamless cross-border payouts for businesses in local currencies without the expense of making multiple international bank transfers.”
Speaking about the new solution, Shane Happach, executive vice president, Head of Global Enterprise eCommerce at Worldpay, Inc., stated:
“As more and more companies send payments at lower values, cross-border, it will become a competitive differentiator to send quicker payouts to consumers and inexpensive disbursements to vendors and suppliers.”
Happach went on to add:
“It is estimated that by 2025, the sharing economy will generate Europe-wide revenues worth over €80bn and facilitate nearly €570bn of transactions. At the heart are seamless, transparent, secure payouts, which can be made via card, mobile wallet or bank transfer in any currency, anywhere in the world.”