Running a business is hard work, and making bulk payments; even harder - especially if you have to do that the mundane way.  
 

In today's ever-changing payment landscape, businesses need to be agile and efficient to move with the trend. This includes embracing new and innovative ways of B2B payments and compensating employees and workers around the globe. 

 

For businesses that make regular payments, streamlining these practices can help you cut back on expenses and save you time and money wherever possible. That’s where mass payout comes in. Mass payout is a payment process that can help you manage your company’s cash flow, reduce your tax burden, and lower your monthly expenses.
 

Mass payments are one way to take control of your company’s finances when used effectively. However, choosing the right mass payment solution for your business can be daunting.

 

 

In this article, we will explore 5 mass payout solutions in Africa that can help your business reduce operating costs. And the best tips to look out for before choosing a mass payout solution. 
 

But first…

 

 

What are Mass Payouts?

Mass payouts (Mass Payment/Bulk Payment) is a concept that allows you to make large sum payments in a single batch. Essentially, it’s any system for distributing high-volume payments to multiple recipients, in multiple currencies. A mass payout can be applied to nearly any type of payment, including payroll, taxes, vendor invoices, etc. 
 

Benefits of Mass Payouts For Businesses

There are many benefits of using mass payout solutions. Perhaps, the most significant advantage is that they can help to reduce administrative costs. 
 

Businesses often incur significant costs as a result of paying a large number of employees. Thankfully, mass payouts can help streamline these costs by reducing transaction charges, saving time and stress, and also helping you manage your finances better.
 

Another advantage of the mass payout solution is that it makes it easier for employees to receive payments in their favourite currencies. This is especially true for employees, freelancers, and remote workers who have employers in different countries, continents, and currencies across the globe. 
 

Now that you understand the concept of mass payout and its benefits, let’s find out the best mass payment solution for your business.

 

5 Best Mass Payout Solutions For Businesses In Africa. 

There are many mass payout solutions in Africa, each with its pros and cons. However, we have taken the stress to sift through the list, to help you make a better choice for your business. Below are our top 5 picks of the best mass payout solutions for businesses in Africa. 
 

1. Transfy Mass Payout Solution

Transfy mass payout solution is an innovative payment method that facilitates bulk payments for businesses, IMTOs (international money transfer operators), and money transmitters in various African markets. 
 

The solution provides hassle-free services for IMTOs and international businesses across the US, and the UK, who needs to send mass payments to African countries like Ghana, Nigeria, Kenya, Uganda, South Africa, Cameroon, Senegal, and Ivory Coast. 
 

By integrating Transfy’s robust remittance and bulk payment API, businesses can enjoy seamless mass payments to partners, subsidiaries, employees, and other businesses at industry-best rates. The platform provides a highly secure and reliable means of payment and a transparent pricing system that keeps you in control of your funds at all times. 
 

What’s more? Transfy has an extensive network with access to 30% of mobile wallets and bank accounts to help you expand your digital footprint in Africa. Plus, you can access payment at all times with any local bank account or mobile money service in Africa including M-Pesa,  MTN MoMo, Vodafone, Airtel Money, Orange Money, etc.
 

For businesses and organizations looking to reduce administrative costs and payment burdens, Transfy’s mass payout solution makes bulk payments, easier, cheaper, and more convenient.  


 

2. Payoneer

Payoneer has been offering innovative solutions for making mass payments since 2005. Although not specifically built for the African market, Payoneer powers a vast majority of mass payments for businesses and SMEs across the globe. 
 

With Payoneer, you can make bulk payments to multiple individuals and businesses across different currencies like USD, GBP, YEN, AUD, CAD, etc. The platform also provides API integrations with a wide range of accounting and payroll solutions to offer seamless cross-border payments and money remittances for its users. Payoneer transactions are backed  by hi-tech security and AML policies to help mitigate fraud and ensure your funds are safe and secure.

 

3. Fincra

Launched in 2019, Fincra’s mass payout solution is another good solution for businesses looking to make regular mass payments in Africa. looking to make regular payments. Fincra provides seamless banking services for individuals and businesses on an API level. The platform offers payment solutions like BaaS APIs, which help businesses and Fintech platforms access seamless international and cross-border payments. 
 

Fincra API solutions allow businesses to make payments to employees, collect payments from customers, and pay contractors or other third parties. Fincra’s mass payout solution supports a wide range of African currencies and also comes with high-level security features to protect businesses against fraud and identity theft.

 

4. IPT Africa

IPT Africa is a frictionless platform that empowers international organizations and businesses with seamless cross-border payment and money remittance services through reduced costs, transparency, speedy transactions, and multiple delivery options. 
 

The mass payout solution allows businesses and high-net-worth individuals to make payments to multiple recipients without hassles. Whether you want to pay employees, contractors, suppliers, or other third parties, IPT Africa provides a customizable solution to fit your payment needs. 
 

IPT Africa offers payment support for over 40 local African currencies allowing you to connect to multiple payment networks. The platform offers a highly secure payment experience and instant and reliable transactions to help you grow your business. 

 

 

5. Tingg Africa

Tingg's mass payout solution allows users to make easy and quick payments to both individuals and businesses in Africa. The platform offers a single payment platform and an easy-to-use API system to allow businesses to make seamless cross-border payments across multiple currencies in Africa.
 

Tingg Africa provides payment support in over ten countries in Africa including Ghana, Nigeria, Kenya, etc. Users can also access payments to local bank accounts and mobile money services like M-Pesa, Orange Money, Vodafone, Airtel money, MTN MoMo, etc.
 

Benefits of using the platform include payment scheduling, low transaction costs, multi-user control, easy reconciliation, and a seamless payment experience, among many others.


 

Tips to Choose The Right Mass Payout Solution For Your Business

There are several tips that businesses should keep in mind when looking for a mass payout solution. Some of the most important ones include the following. 
 

  1. Ensure that the solution is reliable: This can be quite tricky, as many of these services are relatively new. However, ensure that you are using a licensed platform with a good reputation. One way to find out is by checking reviews and user feedback on major playstores or websites like Capterra and Trustpilot.
  2. Look for a solution that is easy to use: Always look out for a user-friendly payment platform. You don’t want to waste too much time trying to figure out how to use your mass payout solution.
  3.  Choose a solution that supports multiple currencies: Ideally, you want to choose a solution that supports the currencies your business operates in. This will make it easier for you to make payments to people in other countries. 
  4. Consider the security features of the solution: It’s important to select a mass payout solution with the right security features. Always look out for solutions that offer two-factor or multi-level authentications. That way, you’re sure that your transactions are highly secure at all times. 
     

Grow Your Business With Seamless Bulk Payments

Mass payout solutions are particularly useful for businesses that regularly pay suppliers or employees. They can also help to reduce the administrative burden, thereby saving you time and money in the long run. 
 

Thanks to mass payout solutions like Transfy, you can now enjoy seamless international payments to multiple recipients in multiple currencies. In addition, the solution saves you more time so you can focus on other aspects of your business and take your business to the next level.