Businesses tell us that sending payouts can be slow, costly, and error-prone, and is even more complex when moving funds cross-border. They have to accept payments in dozens of currencies, pay multiple FX fees, and build custom UIs to collect bank details—all before their recipients see a cent.

Last month at Stripe Sessions, we announced our solution: Global Payouts, which allows you to easily and securely send money to third parties around the world. Global Payouts is part of our biggest-ever upgrade to Stripe to make it less expensive, complex, and time-consuming for you to fund, store, and pay out in multiple currencies. Companies across industries and business models can use Global Payouts. For example:

• Insurers can pay out claims to policyholders
• Fintechs can disburse funds to recipients
• Retailers can send rebates or rewards to customers
• Businesses can pay contractors, vendors, or affiliates 

Businesses such as Turo have already sent more than $160 million in claims payouts with a 99.5% success rate. Here’s everything you can do with Global Payouts.

Simplify global money management 

Moving funds between payment processors, banks, and payouts providers can take days and becomes even more cumbersome if you have to manage money across borders. This requires you to incur FX fees once as you accept and store money in multiple currencies, and then again as you’re paying out. 

We simplified this process by allowing you to fund, store, and send money—all on Stripe. Even if you don’t process payments on Stripe, you can easily fund your Stripe balance from your external bank account through the Dashboard or via the API.

Once you’ve moved the funds into Stripe, you need a place to hold them. We’ve made your Stripe balance more powerful by adding the ability to store these funds in multiple currencies. You can then use Global Payouts to send money in these currencies directly to recipients in more than 50 countries—meaning you only incur FX fees if and when you need to.

Go live in hours, with or without code

While some businesses have the resources to build fully customized payouts programs from scratch, most need to go live quickly without first devoting months of engineering time.

With Global Payouts, sending money is as easy as sending an email. You can use our no-code payouts to collect your recipient’s information via email, then automatically send them money. Or for complete customization, you can use the Stripe API to build your own UIs and automate payout flows. No matter your integration path, you can use the Stripe Dashboard to pull reports, manage team access, make one-off corrections to recipients, download data directly to your warehouse via Stripe Data Pipeline, and even write natural language queries with our AI-powered Sigma Assistant.

Businesses ranging from startups to some of the world’s leading marketplaces have sent their first payout within hours.

Global Payouts [has] been transformative for UrbanSitter by providing an easy-to-integrate, less expensive solution that has saved our engineering team hundreds of hours. Stripe always gives us white-glove service and custom-tailored solutions—and we now have a seamless recipient experience for the fastest-growing portion of our business.

Provide a seamless, secure recipient experience

Businesses tell us that one of the hardest parts about sending money is accurately collecting recipient information. Building localized, compliant UIs to collect recipient information can take months, and they typically require recipients to manually enter payout information, resulting in typos and failed payouts.

We’re bringing together our suite of products to solve this. Our UIs are integrated with Financial Connections, allowing recipients to easily link their account information with their bank login. This integration also allows you to verify the recipients and their bank details, providing an extra layer of fraud protection. 

Businesses that collect recipient information through Financial Connections have seen an 88% decrease in failed payouts compared to manual information entry, resulting in a better experience for recipients.

What’s next 

Over the next year, we plan to allow all users to send money to recipients in more than 100 countries in local currencies or in stablecoins. We also plan to expand access to Global Payouts to businesses in Europe.

To learn more about our Global Payouts capabilities, read our docs or get in touch.