Overview

Payout Module allows Merchants to send money to either a company or an individual, via local or cross-border rails. Similar to our Payin capabilities, Payout also offers smooth, status-transparent, and real-time monetary transactions, thus increasing the efficacy of the disbursement of funds. The same can be done via our APIs or our No Code client portal.

Payout simply means money to be sent out to your beneficiaries from your Finmo account. Finmo here acts as a remitter of funds for both domestic & cross-border money transfers. Typically a Finmo Payout could be a domestic fund transfer like NPP in AU, FAST in SG, ACH in the US, SEPA SCT in the EU, or wire transfers using SWIFT.

🔹 Payouts via Finmo

To be able to use Payouts via Finmo, you would need to load funds to your Payout wallet. You can create a checkout page via the dashboard or top-up using a static virtual Account associated with your Payout wallet.

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Use Cases

Finmo supports the following use cases for disbursing funds out of your Finmo account:

• Digital Goods and Marketplaces
• Payroll payments
• Payout to suppliers (B2B)
• Move funds between your entities

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Key Terms

PAYOUT Wallet

Finmo Payout wallet works based on a 'good funds' model i.e. you are required to load funds into your Payout Wallet before you can start making Payouts. For Payout wallets, we have a concept of RESERVE and RELEASE functionality where Finmo blocks the funds in the wallet when a Payout request is made but not completed yet. Once the Payout is completed we will release the funds and debit the Payout wallet and the fees wallet.

Local Payout

Merchants can do payouts from their Payout Wallets for local (same country) transactions. They can easily top-up their Payout Wallet and initiate a disbursement via the available payout methods of the country, like FAST, NPP, etc.

Bulk Payout

Bulk Payouts allow Merchants to do Payout transactions in bulk. Merchants need to upload an excel file in and the rest is taken care of by Finmo. This allows Merchants to remove the hassle of a large number of single transactions, thus decreasing the turnaround time and increasing the throughput. To get access to this feature, reach out to [email protected].

International Payout

To be able to do International Payments, Merchants need to first get fully authenticated on the Finmo Platform, by activating their account for GCA (Global Currency Account) access. This allows you to convert amongst the currency pairs and send money across the globe. To get access to Global Currency accounts, reach out to [email protected].

Beneficiary

Merchants can add Beneficiaries, either Individual or Company details, as per their business requirements. They can just select the already existing Beneficiaries, or add the details of the same on the go at the time of Payout Transactions.

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Payout Process

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Payout Flow

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Payout Webhooks/ Notifications

Finmo will notify you of the Payout transactions via webhooks. You can always choose to configure a static webhook listener URL via the dashboard or you can send a dynamic webhook URL in the API request.