Payins and payouts are mostly manual - Deepstash

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Payins and payouts are mostly manual

  • Payouts send money outside of the business, such as bank wires and ACH, paying vendor invoices, creating transaction logs, etc.
  • Payins bring money into the business by accepting various payment methods, optimising payment routes and authorisation rates, identifying fraud and failure, allowing for rewards, gift cards, payment splitting, etc.

The payment acceptance methods - credit cards, e-wallets, crypto, gift cards, bank transfers - differ by company and geography and can take months to implement. For payouts, a bank transfer involves a series of manual approvals.

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MORE IDEAS FROM THE SAME ARTICLE

Financial Operations (FinOps) could be an emerging software category with a huge opportunity to rethink the way businesses manage their money. As a result, it is expected that a number of companies will build solutions.

The tools that exist today for tracking and managing financial operations are outdated. Furthermore, payment complexity is increasing as businesses become global.

Building in this category requires building trust and reducing friction in the onboarding. The product needs to be highly reliable and likely needs to be added on top of existing products at first. Setup cannot be overly complex, as this is what the buyer wants t...

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