Do you want to understand the difference between payouts, e-commerce transactions, and card-to-card payments? This podcast episode provides clear explanations of these three key card-based money transfer solutions, empowering you to select the best option for your fintech business.
Hey everyone, welcome back. Ready to jump into another deep dive. Today we're tackling something super crucial for any fintech platform out there. We're talking money transfers, right? You got it.
Specifically, we're looking at the solutions offered by Verestro. And they help us with that. We've got an expert here from Verestro. Glad to be here.
Verestro for folks who don't know bills. The financial plumbing for some of the biggest names in fintech. That's right. Yeah, we're behind the scenes making a lot of these apps work.
Awesome. Let's dive right into it. When we talk about money transfer for fintechs, what are we really talking about? What are the big buckets that you guys see come up the most? Yeah, so we see a ton of different use cases. Obviously, every fintech is a little bit unique.
But a lot of them fall into a few main categories. So the first one that we see a lot is payouts to cards. So that's basically when you're sending money to any master card or visa globally. So think, payouts to freelancers, market place sellers, things like that.
The second big one is e-commerce transactions. So this is basically accepting payments from cards. Apple Pay, Google Pay. So imagine someone's topping up their investment account or adding funds to their digital wallet.
That kind of thing. And then the third one that we see a lot is card to card payments. So this is basically facilitating direct transfers between cards. So Mastercard to Visa or Mastercard.
Interesting. Appeared a peer payments are a good example of that. Yeah, that makes sense. OK, so let's break those down one by one.
I think that's super helpful for folks to kind of get the lay of the land. Yeah. So let's start with that first one. You mentioned payouts to cards.
Imagine I'm a fintech company. And I've got users that are maybe they're freelancers, maybe they're earner rewards points, maybe whatever it is. But I need to get money to them. Yep.
And they're all over the world. How does that work? How do we make that happen? Yeah, so I mean, that's where a solution, like our payouts to cards product comes in. OK. So essentially, we provide you with an API that you can integrate into your platform.
And that allows you to send money to any Mastercard or Visa card. Well, anywhere in the world, pretty much instantly. Really? So we're talking like minutes not. Yeah.
I mean, depending on the specific circumstances, it can sometimes take a little bit longer. Sure. You know, things like AML compliance checks and stuff like that. Right.
Of course. But yeah, in most cases, it's really fast. Wow. So that could be a game changer for somebody like a freelancer who's waiting to get paid.
Yeah. And they need that money to -- Absolutely. -- to open their bills. Huge difference for them.
That's huge. Yeah. OK, cool. Yeah.
So let's pay out the cards. Yeah. Let's talk about e-commerce transactions. OK.
So now we're talking about going the other way. That's right. Money's coming into the platform. Yeah.
You know, how does a fintech company handle that securely? Because I know there's like PCI compliance and all sorts of... Oh, yeah. It can be a nightmare. Yeah.
Scary stuff. So how do you... how do you guys handle that? Yeah. So I mean, that's one of the big advantages of working with a company like us.
OK. We handle all of that for you. Nice. So our e-commerce transactions product basically lets us act as the merchant of record.
So we handle all the sensitive data, all the PCI compliance. This is the fintech company doesn't have to worry about any of that. Exactly. They can just focus on their core product.
That's awesome. And their users can top up their accounts seamlessly using whatever method they prefer cards, Apple Pay, Google Pay. So it's like you guys are taking care of all the backend stuff and the fintech company can just focus on -- Exactly. -- the user experience.
Yep. Make it really smooth and easy for their users. That's fantastic. OK.
So we've got payouts. We've got e-commerce. The last piece of the puzzle here is card to card payments. So this is where I guess the fintech company isn't actually holding the funds.
They're just facilitating a transfer between two different cards. Yeah, exactly. So think about a peer-to-peer payment act. OK.
Or a marketplace where a buyer wants to pay a seller directly. Got it. Our card to card product lets you do that really easily and securely. And that works across any card network.
Yep. Mastercard to Visa. Visa to Mastercard. We've got you covered.
OK, cool. So that's super helpful. We've laid out these three different solutions here. Payouts.
E-commerce card to card. If I'm a fintech company listening to this, how do I know which one is right for me? Yeah, that's a great question. And I think the most important thing is to really think through your specific use case. OK.
What are your needs? What are your users' needs? Things like transaction, volume, geographical reach, fees, regulatory requirements, all of that stuff is going to play a role. Be it to complicate. It can get complicated for sure. But we're here to help.
So I would say if you're building a Fintech app and you're thinking about money transfer, definitely reach out to us. Have a conversation. We'd be happy to walk you through the options and help you figure out what's the best fit for your name. Perfect.
Yeah. And that's the key takeaway here, right? You've got these three powerful tools. Payouts. E-commerce card to card.
But knowing which one to use and how to actually integrate it into your platform, that's where the experts come in. That's where the restaurant comes in. That's right. So head over to their website.
We'll put the link in the show notes. Yeah. And check out what they're doing. Yeah.
And if you're ready to take your fintech to the next level, definitely reach out to us. We'd love to chat. Awesome. Well, hey, this has been super helpful.
My pleasure. When listening, here's something to ponder. Knowing all of these options Verestro offers, how could integrating one of their solutions transform your platform? Could it lock new features, streamline your operations? Maybe even give you a serious edge in the market? If you're ready to find out, reach out to Verestro. They have the expertise to help you navigate all of these choices and find the perfect fit.
Until next time, keep innovating.