Use Digital Payouts To Simplify Fulfillment

By simplifying fulfillment processes, modern digital payouts are changing the game for businesses. 

Unlike traditional methods (think cutting and mailing paper checks), digital payouts offer a faster, more efficient method for sending payments. Whether it's for employee rewards, customer rebates, or research incentives, digital payouts streamline transactions, saving time and reducing manual errors.

In this article, we'll explore how leveraging digital payout solutions can enhance your business operations. We're focusing on six key benefits, including cost-effectiveness, ease of use, and instant delivery.

Digital payouts 101

Payouts are simply monetary payments you send to one or more people at a time. 

Digital payouts then do this via digital delivery methods like digital gift cards, instead of sending paper checks or cash in the mail.

Businesses use payouts for a range of purposes. Sending bonuses to employees, paying survey or research participants for their time, and giving customers cash back and rebates are all examples of payouts. 

Whatever the case, using digital payouts will always works faster and more effectively than physical payments. It's obviously a lot easier to send a payout via email, text, DM, or API integration, rather than by licking a stamp, heading to the post office, and crossing your fingers that the letter makes it in time. 

Better still, using mass payout software also lets you further automate the entire process. Instead of having to manually track if and when users complete certain steps (like submitting a survey or making a referral), you can use payout software to trigger these payments instantly.  

In other words, if your organization isn’t using digital payouts yet, you’re likely wasting time, energy, and resources. 

6 benefits of digital payouts

Digital payouts offer six main benefits over physical payment delivery methods.

1. Ease of use: The right payout platform will let you instantaneously send curated digital payouts in multiple denominations, no special tech or financial expertise needed.
2. Easy to integrate: Good payout software will integrate with your existing workflow. This should be true whether you choose to use the software's existing platform, or use payout API to merge with your own app or software. 
3. Easy to track: Manually sending payouts is always going to be more time consuming and error-prone than sending them via software that also provides reporting and analytics. No more wondering if your payout reached its intended recipient, and no more paying extra to track couriered payments. 
4. More cost effective: Find a mass payout platform that doesn't charge any fees to use their services. For example, with Giftbit, if you send a $50 payout, it will only ever cost your company $50.
5. More flexible: Going digital lets you step out of the 20th-century-box many companies still find themselves in when it comes to payouts. Send payouts in the form of Visa or MastercardⓇ prepaid cards. Or let your recipients choose from a complete and global payout catalog of hundreds of popular and niche brands.
6. Instantaneous delivery: When you send your rewards and payouts digitally, your recipients get them right away, and you don't have to think about it any more. You can also set up triggers to automate the process. Out of sight, out of mind. 

Ultimately, the right payout solution will help you manage your payment program easily and effectively. Combined, all of these benefits will transform your payment processes and improve overall efficiency.

When to use a digital payout app

Like we've covered, gigital payout software can dramatically streamline the process of sending payments to the recipients on your list. You can use it to distribute payouts in the form of prepaid cards (like Visa and Mastercard) and/or gift cards to popular and/or niche brands in a variety of ways. 

If you have a simple program and the right payout and gift card distributor, you'll be able to use their platform to create and distribute payouts that you can automatically send to recipients via email, text, social DM, or QR code. 

For example, Giftbit's web-based platform is robust enough to handle a variety of payouts, including multi-faceted payout programs. 

That said, for a variety of reasons, some companies need to create their own digital payout app, or they need to add payouts to their existing infrastructure. In these cases, their developers will need to leverage the full power of a RESTful API for payouts. 

Mass payouts

Larger payout programs often require you to send payouts to dozens or even hundreds of recipients at once, often in different denominations. The right platform should simplify your process for these types of mass payouts, too. 

That said, the process for sending one payout or thousands is the same, assuming you have full control over your platform. As long as your can alter your payout values depending on each user's metrics, and update your triggers and tracking as needed, you should be good to go. For example, with Giftbit, you don’t need to set up mass payouts any differently than you would payouts to just one person

Giftbit seamlessly facilitates any digital payouts, no matter the scale. Sign up for a free account to get started, or chat with our sales team for more information.