They're an everybody problem.
From a user having to figure out complex banking requirements to your support staff escalating to vendors across the globe, the payout trail can get long and messy.
Read along in this modern tragedy to see the trevails of the current payout landscape.
Look through some of the mess we've gathered in this infographic - this is just a small slice of what folks are dealing with every day.
Why is it that when we know customer experience is the difference between success and failure, we treat payees like this?
Let's dive into what we see here.
BAD, BAD, BAD
Current payout offerings don’t have fast clearing times, don’t offer API access, have expensive cross-border options, bad FX, require licensing, or all of the above.
Plus, we have payees writing back and forth with support over the course of weeks just to get paid.
Amounts owed are a liability to corporations, which typically settle out on an ad hoc basis and hard-to-determine schedule. Further, despite the entrance of multiple players on the scene, payouts are a logistical nightmare that require intense labor commitments, and mountains of fees.
Add the back and forth with end customers, and expecting every person on your staff to be a payout expert, and ... it's not great.
We can make this better. For everyone.
