5 best mass payout software for businesses in 2023

Any business regularly sending payments to customers, vendors, advertisers, or partners ought to be using mass payout software. Why? Because it’s the most efficient, cost-effective method of issuing payouts on a large scale.

Today’s leading online marketplaces, content streaming platforms, influencer/affiliate programs, and e-commerce businesses incorporate mass payouts into their accounting workflows. As your business grows, it may soon be time to do the same. 

Consult this guide to learn about our recommendations for the 5 best mass payout software platforms for businesses in 2023. 

How do mass payouts work?

Mass payouts—or mass payments—enable efficient and secure payouts to large numbers of users and partners in one go. Businesses implement a mass payment solution to make the accounts payable department more efficient, protect cost margins, and solidify key partnerships by establishing trust and dependability.

Mass payouts occur over 6 steps: 

1. Data collection: Mass payout software collects the data necessary to issue payments, including personal information, bank account numbers, and tax information. 
2. Inciting event: Mass payouts are grouped together when they share common attributes. For example, payroll software technically is a form of mass payment. The end of a pay period triggers the need for payroll to occur, and a mass payout follows. For other contexts, the inciting event could be: quarterly vendor payouts or monthly earnings payments. 
3. Payment processing: When a mass payout takes place, the software processes the group of payments in a batch transaction.
4. Authorization: Mass payout software may require payer authorization or manager approval as an added layer of security. 
5. Payment tracking and reporting: After the mass payment occurs, most platforms offer tracking features for payers and payees, and generate reports on payment details, such as amounts, recipients, and status. 
6. Reconciliation: Some mass payout software can reconcile payments to ensure the issued amount matches the invoiced amount and verify that recipients received the correct payments.

5 best mass payout software for businesses 

Mass payout software is a somewhat niche specialty under the broader umbrella of accounting automation software. The following 5 platforms stand out for their dependability and features. Some are better suited to earlier-stage startups, while others offer robust customizations for advanced use cases. 

Trolley 

Find out why users call Trolley the “best solution for global mass payments.” 

Average G2 customer rating: 4.9/5

Average Capterra customer rating: 4.7/5

Features and benefits of Trolley 

• Automated processing: Trolley automates the mass payment process, which reduces manual effort and errors and enables organizations to make efficient, fast payments.
• Customizable templates: The platform provides customizable templates that can be tailored to the specific needs of an organization, making it easier to process payments consistently and accurately.
• Multi-currency support: Trolley payout software can support multiple currencies, making it an ideal solution for global organizations.
• Real-time reporting: Trolley provides real-time reporting to monitor the status and history of payments.
• Secure payments: Advanced security measures, such as encryption and multi-factor authentication, ensure the security of payments and sensitive financial information.
• Cost-effective: Trolley may reduce the costs associated with making payments, including paper checks, the time spent on manual processing tasks, and associated banking fees.
• Scalability: Trolley enables users to issue payments to a small or large number of recipients as needed, making it a flexible solution for growing organizations with varying payment needs.
• Integrations: Other platforms, such as payroll and accounting systems, are able to be linked to Trolley to streamline payment processes as part of a broader automated accounting system. 

Who it’s for

Trolley partners with startups and SMBs across a variety of industries: content creator platforms, marketplace sellers, influencer agencies, affiliate marketing groups, and more. 

Trolley pricing 

$49/month for the basic plan

$199/month to unlock additional features

Enterprise pricing available 

Payoneer

Explore what makes Payoneer an affordable, easy-to-setup solution for secure international payments. 

Average G2 customer rating: 3.4/5

Average Capterra customer rating: 4.4/5

Features and benefits of Payoneer

• Multi-currency payments: Payoneer supports over 150 currencies. The platform allows businesses and individuals to receive payments in the currency of their choice, reducing the need for currency conversion and associated fees.
• Secure: Payoneer uses advanced security measures, such as SSL encryption and two-factor authentication, to secure payments and financial information. The platform also offers virtual account numbers, enabling users to avoid having to share their personal bank account information.
• Global payment network: Payoneer users can send and receive payments from over 200 countries.
• Local bank transfer: Payoneer offers local bank transfers to reduce the need for currency conversion and associated fees.
• Automated payments: The platform reduces the likelihood of manual-process-driven errors with its automated payment solutions that send payments directly into Payoneer accounts.
• Mobile app: The Payoneer mobile app provides robust access to user account information, payments, and transfers. 

Who it’s for

Payoneer provides its services to freelancer platforms, online sellers, digital marketplaces, vacation rental hosts, and more. 

Payoneer pricing 

If the payer and payee both use Payoneer accounts, sending payments is free. Fixed and variable transaction fees apply to payments (up to 2%) and currency transfers. 

Check the Payoneer website for more details on pricing.

Stripe

Stripe is a well-known global payment processor. How well do its mass payout features stack up to its niche competitors? 

Average G2 customer rating: 4.3/5

Average Capterra customer rating: 4.7/5

Features and benefits of Stripe 

• Highly customizable: With Stripe, you can design your own payments workflows, which support a wide range of payment methods. Stripe can also develop a fully API-based integration within your UI.
• Global scale: Stripe offers 135 currencies and dozens of payment methods, enabling its customers to operate globally with ease. 
• Top-of-the-line security: AES-256 encryption and isolated infrastructure make Stripe one of the most secure payment processors in the market. 
• Instant payouts: With Stripe, businesses can offer instant payouts as an added benefit to vendors, partners, and suppliers. 

Who it’s for

Stripe is an excellent payment processor for businesses of all sizes. Customizations will come at a steep cost, so the advanced use cases for Stripe will make more sense for more mature startups and SMBs. 

Stripe pricing

Payout features are a part of Stripe’s complete payment processing system. Contact Stripe for custom enterprise pricing for your organization. 

Tipalti

What makes Tipalti one of the most user-friendly mass payment platforms today? Several reviews mentioned the easy-to-use interface coupled with helpful implementation specialists that set customers up for success.

Average G2 customer rating: 4.5/5

Average Capterra customer rating: 4.7/5

Features and benefits of Tipalti

• Mass payment data synchronization: Tipalti pulls in performance data from several inputs, then calculates and issues accurate payment for your partners and vendors. 
• Transparency: Tipalti offers enhanced visibility into the complete publisher performance-to-pay lifecycle.
• Partner onboarding: Tipalti collects and syncs payments-related onboarding data from publishers, affiliates, influencers, content creators, or other marketplace partners.
• Integration capabilities: Integrate Tipalti with the leading ERPs and accounting platforms for an always up-to-date financial snapshot. 
• Custom workflows: Leverage invoice-based or performance-based workflows, depending on your business model.
• Proactive fraud detection: Mitigate payee fraud exposure with the Tipalti Detect™ risk module. 

Who it’s for 

Tipaltii offers its payment solutions for creator, ad tech, sharing, and marketplace businesses. 

Tipalti pricing

According to their website, Tipalti allows you to choose whether and how much the payer or payee pays for transactions. Contact the Tipalti team for a free demo and pricing. 

Routable

Routable claims to reduce manual payment tasks by 80% and reconciliation efforts by 25%. Let’s explore the features that allow teams to enjoy these benefits. 

There were no G2 or Capterra ratings available at the time of publishing. 

Features and benefits of Routable

• Real-time payments: Routable offers real-time payments, keeping your partners happy and building trust. 
• Custom partner onboarding workflows: Offer your own, tailor-made onboarding workflow to streamline the process for new partners and keep them engaged. 
• Cross-border payments: Make payments to 220+ countries with this feature. 
• Integrations: Real-time two-way syncs for cross-border payments keeps your payments and accounting systems up-to-date with the latest transactions and payment statuses. NetSuite and QuickBooks are two of many integrations available. 

Who it’s for

Growing startups and well-established brands alike will find a home in Routable. 

Routable pricing  

The Core, entry-level plan starts at $99 per month. To gain access to the NetSuite integration and more user accounts, the Growth plan starts at $499 per month. Enterprise-level plans are also available upon request. 

How to assess the best mass payout software for your business 

We recently reviewed the benefits of integrating a mass payout platform into your accounting department. As part of that discussion, we also discussed how best to assess your options and onboard the right mass payment software for your business. 

When reviewing features, keep in mind that the best platforms will offer: 

• Two-way integrations between your existing financial and accounting systems
• Automated payee onboarding
• Tax and compliance guardrails  
• Automated reconciliation and tax forms preparation 
• Multiple available payout methods
• Currency conversion and multi-currency payment options 
• Cloud-based access
• Fraud protection and data encryption

Consult with your accounting teams to ensure you receive their input before finalizing your selection. They’ll be responsible for scaling the payments aspect of your business. Ultimately, it is in everyone’s best interest to ensure that the technology available will empower your most audacious goals.