What is the Payouts Product?

TrueLayer Payouts lets you achieve a great customer experience by enabling instant refunds and withdrawals on the fastest payments rails, while ensuring a compliance focused process. Supported by open banking-enabled account verification, it makes sure you’re paying the right account, right away. 

Here’s what that could do for your business:

• Boost customer loyalty by initiating payouts that settle the very next second, 24/7. That’s far faster than the five days cards or Bacs can take.
• Eliminate the cost of lost or failed payouts by using bank-verified account information to automate payment setup.
• Ditch manual tracking processes by initiating payouts via a single API, removing errors from the whole equation.
• Streamline due diligence and instantly confirm account ownership by verifying that a user’s name matches with what’s on file at their bank.

More

Read more about Payouts on our blog.

Also check our documentation on Payouts here.