Payouts
is a funds transfer service that enables an originator
to send funds on behalf of itself, merchants, or customers
to a recipient’s payment card account using an original credit transaction
(OCT).
An originator is a merchant, government entity, or corporation
with a merchant account at an acquiring bank.
The funds are made available to the recipient as quickly as within 30 minutes
or a maximum of two business days, depending on the recipient’s issuing bank.You can implement
Payouts
services as part of these types of business flows:- Credit card bill payment—Originator enables customers to pay a credit card bill. Credit card bill payments are not the same as Visa Bill Pay.
- Funds disbursements—Originator sends funds to a recipient’s payment card account.
- Prepaid load—Originator enables customers to load or reload funds to an eligible reloadable prepaid card.
No merchant goods are involved in
Payouts
transactions.IMPORTANT
You must screen senders and recipients against relevant watch lists
according to local laws and be compliant with all anti-money-laundering and
know-your-customer regulations.