MassPayout

Posted on 31 October 2019

MassPayout was developed by Tern as a modern payout solution leveraging the latest tech including Real Time Payments and Push to Card. The entire solution can be branded for corporate clients or white labeled, empowering vendors, partners and agents several options on how to get paid while streamlining workloads.

Payout Options
The MassPayout platform is an easy-to-use and efficient system to manage payouts with streamlined, automated onboarding, batch uploading, payee registrations, and multiple payment options. Individuals are able to choose their preferred payout methods in the form of:

  • Prepaid cards – A MassPayout prepaid card can be issued and mailed to payees across the globe. You also have the option of sending a digital prepaid card instantly to payees. Both card types can be branded with your company logo and support Apple and Google Pay.
  • Push to card – An instant way to payout; payees register by inputting their existing debit card number. Once registered, you can push funds directly to their debit card with instantly settled and available funds.
  • Cross-border bank transfers – Pay directly into the bank account or your payees in over 35 countries and use MassPayout to validate your payees banking details.
  • Real time payments – This is a brand new payment method, currently supported by over 60% of US banks (all major bank accounts supported). Funds sent using Real Time Payments are settled instantly into your payees bank account.
  • Domestic bank transfers (ACH) – US payees can register to be paid directly to their bank account. Enrollment is easy, they simply input their online banking username and password and they are automatically enrolled.
  • Cash Pick-up – Your payees can choose from over 100k cash pick-up locations in the US, Canada, and Mexico.
  • Physical checks – If your payees prefer, checks can be automatically printed and mailed directly to their home or business.

The Solution

Web & Mobile Applications

The critical aspects of any payment system are the onboarding of users and funds and the tracking of funds flows. MassPayout takes the complexity out of launching payout applications by providing a tool-set that can be easily customized to meet our clients needs. Our responsive user design can be launched with your branded experience quickly and in a secure environment.

  • Streamlined enrollment tools
  • Automated KYC management
  • Multi-channel pay-out options
  • Integrated into existing back-office system
  • Branded responsive design

Best in Class API

Many organizations already have portals and platforms they leverage as a part of their core business. The MassPayout API can be used to seamlessly integrate an automated payout process into these existing systems.

  • RESTful API
  • Secure dynamic key management
  • IP managed security

Your Brand. Your Options. Your Advantage

MassPayout provides a best-in-class payment experience that fosters strong relationships. By automating your supplier onboarding and payout process within a branded environment, you ensure your brand is always front and center with every interaction. Your suppliers benefit from a rich choice of payment methods both domestically and abroad. Your suppliers also receive proactive payment status email communications and online portal access ensure suppliers are always in the loop.

  • Streamlined / automated payout process
  • Multi-channel options
  • Integrated into existing accounting and ERP system
  • Web and mobile interfaces

Tern is eager to revolutionize the way the payout industry is conducted by giving power to the payee to choose exactly how they get paid. To take advantage of our full stack solution contact us and we would be happy to have a call with you to see how we can meet your business’s needs!

 

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