Current Challenges of the Payouts Market
The global payout market faced significant challenges in the past, such as high transaction fees, currency conversion issues, and slow transaction times. All of them have made it difficult for individuals and businesses to conduct cross-border payments efficiently and cost-effectively.
However, the rise of cryptocurrencies and blockchain technology showed the potential to transform the global payout landscape by offering increased transparency, lower costs, faster settlement times, and enhanced security. Blockchain is a distributed ledger that records transactions in real time, making it possible to conduct cross-border payments without the need for intermediaries such as banks.
A better world
By leveraging blockchain technology, global payouts can become faster and more efficient, with transactions settled in near-real-time. Additionally, businesses can eliminate the need for currency conversion by using cryptocurrencies, which can be transferred without the need for costly and time-consuming foreign exchange transactions.
Bonus: security is provided by an immutable record of all transactions. This can help prevent fraud and other forms of financial crime, making cross-border payments more secure and reliable.
What are Mass Payouts?
Mass Payout is a method of paying up to 10,000 recipients simultaneously. Since mass payouts are submitted online, they are processed instantly which helps organizations to save time, money, and resources.
Mass payouts are a unique feature of the crypto market. They are payments to multiple cryptocurrency addresses at once, and they can be made by either a user or an organization.
How do other online payment services manage with mass payout?
We have conducted research. We surveyed 20 online payment providers and asked whether they have such an option for their customers. Many of them do not have such features. In fact only two of them provided us with information about such a feature and its price.
The best way to understand mass payouts is to think about how they would work in real life.
Imagine you own a small business that employs several freelancers who work remotely. You need to pay them for their services, but rather than paying each one individually, you can use mass payouts to make the process more efficient.
To do this, you would first need to collect the cryptocurrency addresses of all your freelancers. Once you have these addresses, you can use a mass payout service or platform to send payments to all of them at once.
Mass payouts in cryptocurrency are a great way to reward miners who are working hard to secure your network. Mass payouts can be done once a month or once a year. These payouts are typically made in the form of cryptocurrency, such as Bitcoin or Ethereum, and are distributed to the miners' wallets.
Mass payouts can also be used in the online casino industry to pay out winnings to players in cryptocurrency. This is becoming increasingly common as more online casinos are accepting cryptocurrency payments and offering games that allow players to win digital assets as prizes.
How to use Mass Payouts
Using a mass payout service at Calypso Pay 2.0 can be a cost-effective and time-efficient way to make payments. It can also be useful for organizations that need to make payments to multiple suppliers, affiliates, or partners.
The best thing about mass payouts: they are convenient and efficient to make cryptocurrency payments to multiple recipients at once. Moreover, it suits retail, e-learning, travel and other businesses.
Calypso Pay 2.0 is the next generation of our global payments platform. It is built to help you make seamless and secure payments anywhere in the world, so you can focus on your business and not on the logistics of moving money around.
With Calypso Pay 2.0, your company can:
- Process payouts to employees instantly
- Handle international payments easily and securely
- Provide a seamless experience for customers who need to make or receive payments
Mass payouts with Calypso Pay 2.0 can help you to benefit from receiving payouts in crypto and prepare yourself for the future of payments, finance, and e-commerce on the internet.