We’re excited to announce the launch of Instant Payouts, a real-time, secure, and cost-effective way to pay out sales revenue, winnings, or refunds to customers, gamers, creators, and sellers. The new feature means merchants can facilitate instant two-way money movement with pay by bank. 

For customers, the new feature means payments in either direction can be made with one click, once initial authorization is given. Transactions run on The Clearing House’s Real-Time Payments (RTP) network so that they arrive instantly. If RTP isn’t available — for example, if a bank does not yet support it — ACH same-day settlement is used, to make sure funds arrive within hours. 

Use cases across industries

Instant Payouts supports a wide range of industries, including:

• iGaming platforms: Merchants can provide instant winnings and refunds to gamers, solving key pain points in the gaming payment experience. Link Money authorizes and guarantees the transactions in real time so that players can start playing instantly, regardless of the payment rails. 

• Marketplaces: Creators and sellers can receive payments instantly, enhancing cash flow and boosting satisfaction.

• Cryptocurrency platforms: Users can withdraw funds from wallets or exchanges without delay, streamlining their experience.

• Money Service Businesses (MSBs): Remittance services, foreign exchange platforms, and other MSBs can instantly send payments, offering faster, more reliable services to customers.

This feature allows businesses across a range of sectors to enhance customer satisfaction by eliminating wait times for payouts, improving liquidity, and streamlining financial transactions.

Improved security with verified payouts (and pay-ins) 

With pay by bank, a verification process ensures that the gamer or customer is connecting a real bank account owned by that individual, while remaining Nacha-compliant, before pushing a payout. This improves security by reducing the fraud risk that an account is not legitimate or is owned by someone other than the customer. 

Available for open and closed loop payments 

Further, payments can be made in a closed loop — where both pay-ins and payouts occur directly from and to the player’s bank account, or open loop, where players deposit funds using a card or other payment method, but payouts are processed via real-time payments through Link Money (or vice versa).

No extra integration work required 

Finally, payouts and pay-ins both run on a single API, meaning merchants don’t need to manage complex payment flows. To initiate a payout rather than a pay-in, you simply flip the source and destination bank accounts in the API. 

“We want our merchants to stay focused on their core business while trusting innovative payment solutions from Link Money. Rolling out Instant Payouts requires no additional integration — everything is handled behind the scenes. We manage all the routing complexities, making it seamless for merchants and their customers alike,” said Rohit Mehtani, Chief Product Officer, Link Money. 

Find out more

To learn more about Instant Payouts and how pay by bank can improve your auth rates and security, contact us.