5 Latest Must-Have Features for Disbursement API
5 Latest Must-Have Features for Disbursement API
In this era of digitalization, digital payments have become a crucial method of payment for businesses. The need to transact through electronic means (non-cash) for various business purposes underscores the importance of innovative solutions that facilitate payment transactions.
What is Disbursement API? As the name suggests, Disbursement API serves as a bridge between parties, where its main function is to channel funds from one party to the bank account of another party. Disbursement API is commonly used by businesses due to its capability to disburse funds on a large scale, automatically, and in real-time with competitive admin fees. Businesses can also offer various payment methods to second parties, such as consumers, using this API.
Payment Flow with Disbursement API
3 Benefits of Disbursement API for Businesses Understanding the importance of Disbursement API for business payment systems is crucial for business operators. Here are 3 things you can benefit from when using Disbursement API:
- Recurring Payments It's common for companies to have recurring expenses every month, such as for utilities, investments, dividend payments, and loan repayments. With Disbursement API, these recurring payments can be automated, resulting in faster error-free payments.
- Employee Salary Payments For companies with a relatively large number of employees, disbursing salaries one by one to each employee can be a significant challenge. With Disbursement API, funds can be disbursed to various employee accounts simultaneously.
- Large-scale Company Operational Payments Operational payments, such as logistics needs to second parties, generally occur in large amounts. Without going through complex settlement processes, Disbursement API facilitates the disbursement of large amounts of funds, as well as automatic transaction validation.
5 Latest Must-Have Features of Disbursement API As market trends and needs continue to evolve, Disbursement API must innovate continuously to provide the best fund disbursement services. Here are 5 aspects to consider when choosing a Disbursement API partner:
- Overdraft Feature - Payment Without Deposit This is the latest innovation in Disbursement API features. Typically, the sender needs to top up to a platform before the API can execute commands to disburse funds to the sender's account. The "payment without deposit" feature enables businesses to disburse funds without an initial deposit. This feature is similar to the pay-later concept, where a certain amount can be paid in the future with additional loan interest.
- Successful Transactions and Guaranteed Security Successful payment automation is the most essential feature for a Disbursement API. Stable and reliable connections demonstrate the quality of the Disbursement API in disbursing funds error-free to recipient accounts. Non-cash payments also have high security risks, so Disbursement API partners must provide layered security for their payment systems.
- Automatic Recipient Account Validation Before disbursing funds, Disbursement API must validate the recipient's account to ensure successful transactions.
- Wide Network The more options for recipient bank accounts, the better a Disbursement API is. This facilitates fast and secure instant payments from one party to another.
- User-Friendly Ensure that the Disbursement API service is supported by comprehensive API documentation, facilitating integration with business systems comprehensively. An easy-to-operate interface is also an important aspect.
With Disbursement API, you don't have to worry about disbursing funds on a large scale to various bank accounts. Introducing: Disbursement API by Brick, which not only offers error-free payments but also the first deposit-free payments in Southeast Asia. Simplify your business payment system with Brick's Disbursement API. Contact us and schedule a demo now! ***
