Payouts are payments made from your company's bank account to a destination account or multiple destination accounts. Payouts include refunds, 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 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.
For more information on how our payouts product simplifies moving money, read our blog post Stitch Payouts makes it easier for businesses to move money
You can also read more on how Stitch Payouts simplify payment operations for Payment Service Providers (PSPs) in this blog post
Disbursements instruct Stitch to pay directly to destination accounts.
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.
If you've integrated Pay By Bank, you can issue refunds to the same 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.