Payouts are payments made from your company’s bank account to a destination account or multiple destination accounts. Payouts include refunds, withdrawals, disbursements and settlements.
You can initiate payouts over API, on a per-transaction basis or in bulk. The Stitch API allows you to issue refunds to a verified account, enable users to make seamless withdrawals, and send disbursements to one or many destination accounts. You can also easily check on the status of your payouts by querying our API or receive updates via webhook.
Disbursements instruct Stitch to pay directly to destination accounts. Destination accounts can be accounts that are linked with Stitch or unlinked accounts. We can optionally verify the account prior to sending the payment – without requiring input from the account owner.
The default payout rail for disbursements is SDV (same-day if the instruction is submitted before daily cut-off time). However, you can choose to disburse via RTC (instant) at a higher cost.
Whether you’ve integrated LinkPay or InstantPay, you can issue refunds to the same verified account that was used to make a Payment Request. Currently, the available payout rail for refunds is SDV.
A settlement represents a payout made to a client and contains a batched set of user payments.
Businesses that have integrated LinkPay can pre-populate a previously linked account used for a Payment Initiation as a destination account to enable customers to withdraw funds.