Instant Payout for MarketPlace Payments: Why Are They Worth It?
It seems like every week there’s a new thing for MarketPlace platform operators to think about. So we’d forgive you if you thought that Instant Payouts for MarketPlace Payments was one of them. After all, you’ve offered the same method of paying your platform users for years, and sure, it’s a little slow and clunky, but that doesn’t seem to be harming your business…
Well, folks, we would encourage you to look to the future. These days, delays on payments for MarketPlace users who operate via your platform just won’t cut it. By offering Instant Payout for ParketPlace Payments, however, you’re keeping up with the pace of the online transaction sphere – and stopping your workers from going elsewhere. Read on to find out more.
What Are The Benefits For My Business?
By utilizing Instant Payout for MarketPlace Payments, you open your business up to a slew of additional benefits. The first is a growing business. As users cotton on to the fact that you’ll pay them instantly, they try you out, and then they stick around. They tell more people about it, and they stick around too. This creates a tumbling effect of more and more platform users who know that they’re paid on time.
This, naturally, has a strong effect on your MarketPlace’s profits – which is only added to by additional potential revenue streams created by the service. For certain Instant Payouts, a transaction fee can be implemented, and every time this occurs, your business generates a little extra income. While these amounts might seem small at first, once you have thousands of users all opting into transaction fees daily, your profits will be snowballing.
Instant Payout For MarketPlace Payments In Action
Let’s imagine that you’re offering an online MarketPlace where sellers can offer small-scale design services. One of your users has their services employed, they do an amazing job, and everyone’s happy.
Traditionally, what would happen now is that the payment request would come through, and the user would face a lengthy delay to be paid. Instant Payout for MarketPlace Payments, though, circumvents this: the user is able to then choose from a range of payment options, from same-day ACH (if submitted before 11 A.M. CT), Real-Time Payments, push to debit card, virtual credit card, or remote check. If all of the criteria are filled, they get their payment option straight away.
And here’s where it gets really interesting for you: for push to debit card especially, a choice can be offered, to either have payment delayed, or to be paid instantly, with a small transaction fee. The user taps to agree to be paid instantly, and a small amount of their money goes your way in return for the speed. They get paid, and you make money.
The Bottom Line
Instant Payout for MarketPlace Payments is the future, and it’s easy to see why. This quick, easy, and useful service gives your users the capacity to be paid instantly, and you the capacity to grow your business.
To discuss your options around Instant Payout for MarketPlace Payments, contact Agile Payments today. Our team, with decades of expert experience, knows exactly how to implement Instant Payout solutions for your platform. Get in touch now.