How the Dots Digital Wallet Works
One of the best ways to streamline your payout ecosystem is with a digital wallet. Instead of transferring money to a payee’s bank account, you can send their funds directly to their digital wallet on your platform. This keeps funds in your system until users’ funds reach a certain amount or they decide what they want to do with them. Not only does this put more power in your users’ hands with how they use their payments, but they also get access to their money much faster. Digital wallets offer many payout solutions with the Dots API. Learn more about our digital wallet and how it works below.
A Brief Overview
Dots allows you to easily embed a secure, digital wallet in your payout ecosystem. Instead of sending funds to a payee’s bank account, which can be cumbersome at low volumes and lead to processing times, users can grow their balance in their digital wallets and decide when they’re ready to cash out. It’s easy to implement thanks to the Dots API and it’s intuitive for payees to use.
Dots is a comprehensive payout solution that lets you receive and send payments on multiple platforms while we handle your payout tasks. Take the extra work off your developers and let us take care of your manual payout tasks for you. With Dots, users can select payout solutions like Venmo, PayPal, CashApp, ACH and nearly any other processing platform they use. All without having to develop new payment workflows.
Dots also gives you the ability to provide users with a digital wallet to build your own payment ecosystem and make payouts more convenient. The money management and money movement side are taken care of by our API.
Balance Ledgering
There are numerous benefits of implementing a digital wallet. Dots makes it easy for you to access robust ledger tools. This provides more transparency into the payout process and makes record-keeping simpler. Dots also helps you keep third-party intermediaries to a minimum, giving you and your users more control over funds that are contained in your business ecosystem.
Multiple Payment Processors
Of course, you don’t have to cut out third-party platforms altogether. Dots makes it easy to process payouts through major payment platforms such as Paypal, Venmo, and CashApp. Let your users choose how they get their money and harness the power of more payment processors without the hassle of developing new workflows for each one.
White-Label Integration
With Dots, your payment ecosystem can be white-labeled to fit your brand. Easily include your branding and logo with your embedded digital wallet to keep your brand consistent. Although Dots is ready to use straight out of the box, you can make adjustments to better fit the needs of your users. Dots is built to be as flexible as possible to work with your business.
Payout in Any Currency
In addition to implementing multiple payment rails, you can also payout in any local currency through the digital wallet API. Users will accrue their balances in dollars, but they can choose to withdraw funds in the local currency of their choice. This is another way that the Dots digital wallet helps to put the power in the hands of your payees. Ready to learn more about Dots?
Get Started With Dots Today
With Dots, you don’t have to dedicate developer resources to create new payment workflows. Blend multiple payment options quickly and seamlessly, providing a better experience for your customers in the process. Ready to learn more about our API and how it can help your business? Schedule your demo today!