In the fast-paced world of business operations, efficiency is key. Managing partner and supplier payments efficiently can have a significant impact on your business’s success. However, manually processing mass payouts for numerous partners and suppliers can be time-consuming and prone to errors. This is where automating mass payouts can save you time, effort, and costs while minimizing delays and mistakes.
Understanding Mass Payouts
Mass payouts, also known as bulk payments, involve sending large sums of money to multiple recipients in a single batch. This can include payments to individuals or businesses, both locally and internationally. Mass payouts can be used for various payment types such as partner and supplier invoices, payroll, taxes, reimbursements, and more. They can also be tailored to different currencies, locations, and preferred payment methods of the recipients
Popular use cases for mass payouts include:
- Paying on-demand services app partners like Glovo, Copia, or Bolt Riders.
- E-commerce platforms like Jumia pay its local suppliers.
- Supplier payouts, such as a local restaurant sourcing ingredients from local farmers and suppliers.
- Paying out wages / salaries to workers to their mobile money / bank accounts e.g. weekly salary payments to the flower workers / tea pickers / cocoa pickers
- Sending our airtime & data bundles to employes / field workers etc
Challenges of Manual Mass Payouts
Manual mass payouts can be cumbersome, especially when dealing with local partners and suppliers. They can lead to errors, data breaches, and fraud, leaving your business vulnerable. Furthermore, reconciling payments made manually with internal records can be challenging and time-consuming, leading to discrepancies and disputes.
Automating Mass Payments with Tingg by Cellulant
Thanks to advancements in payment technology, automating mass payouts is now easier than ever with digital payout solutions like Tingg by Cellulant. Tingg Payouts offers a seamless way to make quick and secure payments to individuals and businesses through a single platform and API integration. With multiple payment methods available, including mobile money, bank accounts, and digital wallets, Tingg Payouts ensures convenience for both senders and recipients.
Steps to Automate Mass Payouts with Tingg:
- Establish your payment needs and criteria for eligibility.
- Capture and verify payment data, including recipient details and preferred payment methods. The data you need to capture and verify include (but are not limited to) the following:
- Recipient Name and address
- Preferred payment methods (Bank account, digital wallet, or mobile money information).
- Email address
- Tax PIN (if payment is taxable)
- Choose Tingg Payouts as your mass payout solution based on factors like ease of use, security, costs, and integration capabilities.
- Upload recipient data and schedule payments through Tingg Payouts, ensuring accuracy and efficiency.
- Utilize Tingg Payouts’ comprehensive reporting features for payment reconciliation and tracking.
By automating your mass payouts with Tingg by Cellulant, you can streamline your payment processes, improve efficiency, and ensure security and accuracy in your transactions. Tingg Payouts offers a convenient and reliable solution for businesses looking to optimize their partner and supplier payments. Talk to Cellulant today to learn more about how Tingg can help you automate your mass payouts and enhance your business operations.
