Salt Edge has announced the official rollout of its bulk payments solution, developed for fintech companies, SaaS platforms, marketplaces, and high-volume enterprises.
Designed on a PSD2-compliant API infrastructure, the newly launched payment solution is set to support companies in initiating multiple payments simultaneously, directly from their business bank accounts.
Initially available in Italy and with expansion plans for the upcoming period across Europe, Salt Edge’s solution focuses on bringing flexibility by enabling companies to connect with the banks they trust.
Modernising batch payments
Considering that traditional batch payment methods rest on dated file formats or manual uploads, which can lead to inefficiencies and errors, Salt Edge intends to deliver a solution that brings Open Banking rails to offer real-time execution, cost efficiency, and optimal automation. The bulk payments product supports a range of use cases, with the company highlighting payroll disbursements, supplier settlements, freelancer payouts, and marketplace transactions.
Additionally, Salt Edge’s solution falls in line with Open Banking regulatory requirements and strong customer authentication (SCA) demands, facilitating increased transparency, real-time tracking, and detailed reporting for every transaction.
Businesses can utilise bulk payments for a variety of use cases, such as:
- To initiate mass payouts directly to bank accounts;
- To automate financial workflows;
- To manage recurring freelancer disbursements;
- To simplify supplier settlement and handle treasury operations;
- To process payroll transactions and ensure that employees receive their wages without delays.
Talking about the strategic move, Vladimir Modirchi, Technical Product Manager (PIS) at Salt Edge, stated that by launching bulk payments, Salt Edge aims to support companies in distancing themselves from outdated processes and implement a more transparent and automated approach to their financial operations. Through a decrease in manual effort, the product minimises time and costs, while also making managing large-scale transactions more efficient. He added that this allows teams to centre their resources towards more valuable tasks that support business growth.
