Payout lets you give your customers cash without the hassle of writing and sending cheques.
The Payout product is an enhancement of the allpay cash offering, allowing businesses to deliver cash payments to their customers using barcode technology to their mobile phone, email address or via a letter. It provides a simple, secure, inclusive, and accessible way for customers to receive over the counter funds from a Post Office branch. Payout NOW! is for one-off or emergency payments, creating and despatching vouchers in real-time for immediate use.
The Payout and Payout NOW! solutions are ideal services for local government, councils, social landlords or charities working with vulnerable individuals that may not have access to a bank account.
How do the services work?
In order to disburse funds to customers, businesses must set up a Payout solution in order to gain access to the dedicated Payout web-portal. They must then follow the relevant steps on the web-portal, which will result in the issuance of a one-time use barcode voucher to customers via SMS text, email, or post. The barcode voucher, which will be of a nominated amount, can then be exchanged in a Post Office branch for cash.
Vouchers are requested by loading a data file onto the dedicated web portal. The file will contain details of the funds you wish to issue, along with the customers' names and method of disbursement. Having verified that the funding is held on account, the file is processed, and we distribute the vouchers the following day using the allocated method.
A dedicated Payout Customer Service Team is on hand to answer any queries you or your clients may have and assist in requests such as cancelling a transaction. Voucher cancellation is a simple process achieved either in bulk, or individually in real-time. Clients will receive daily voucher tracking reports and a weekly finance statement.
Other features include:
- No minimum or maximum encashment values.
- Fraud-free since launch in 2006 – single-use vouchers validated in real-time.
- Customer identification verified by professional and highly trained staff.
- Accurate and transparent reporting.
- One month voucher validity.
- Simple scheme set-up & implementation.
- A dedicated portal, featuring reports.
Helping the community
Cited by HM Treasury 'Basic Bank Accounts' July 2017-2018*, as of here are around 1.3 million people in the UK who simply do not have a bank account, many of them are on low incomes and rely on cash for various reasons. We work closely with a number of local councils and Governments to provide a Payout solution that enables a cost-effective and efficient way of distributing funds to those in need.
We recently worked with North East Lincolnshire Council (NELC) to facilitate bulk provision of funds to residents in need.
“With the next tranche of Household Support Funding on the horizon, using the Payout and Payout NOW! process is a quick and easy option for distributing funds to those most in need in our community.” Says Cindy Laherty, Strategic Lead Revenues and Benefits, NELC. “It provides an administratively light, cost-effective option to allow us to target support where and when it is required.”
The improved services mean that vulnerable citizens can now have access to cash quickly through any local Post Office branch when in need.
For more information, please visit our dedicated Payout page here.