Digital payment provider Peach Payments has announced the launch of real-time clearance (RTC) payouts for merchants on its platform across South Africa.
With the newly added payouts solution, merchants are set to be able to top up their float and disburse payments efficiently. The move supports Peach Payments’ objectives to scale its offering locally and further abroad. As detailed by the company’s representatives, the upgraded payout capability provides a simplified and automated solution to disburse funds in South Africa. Through real-time payouts, automated processes, and batch payment handling, it minimises manual intervention and boosts efficiency.
Optimal reprocessing and settlements
Peach Payments’ RTC Payouts delivers automated reconciliation, CSV uploads, float top-ups, and batch payments, which are not paused if the merchant’s bank’s systems do not function. The Peach Payments API manages automated bulk payments, keeps payouts transferring to other banks, and flags any failed payments for rapid reprocessing. Also, a UI on the Peach Payments dashboard handles payments for merchants who prefer not to leverage the API or are looking to make a single transaction.
Furthermore, the newly launched solution can be utilised by companies that want to distribute refunds and commissions rapidly to their users, pay gig workers with changing payout schedules, and manage salary disbursements, bonuses, and expense reimbursements. Peach Payments’ service also reduces the time for funds to reach recipients, with the company reporting a 75% time saving on settlement and payout operations.
At the time of writing, the offering is available in South Africa, with plans to scale availability in other countries in the upcoming period, contingent on their regulatory requirements. Peach Payments intends to integrate Payouts with other payment methods, enabling features like refunds for EFT payments. The initiative is set to support partnerships that help the company expand its footprint into new markets and reach additional customer segments.
