Nucleus365’s Local Payouts facilitates local payments across 4 billion global bank accounts
Nucleus365, the unified platform for payment processing and reconciliation, has launched Local Payouts. Local Payouts is the latest offering provided by the company, which continues to build momentum by offering an expanding, fully-integrated platform designed to champion payment transparency for its international merchants. Among the first companies to launch such a function in a consolidated way, Local Payouts is the next step to address the common misalignment between banking, payment processing, and technology stacks.
Prior to Local Payouts, diverse compliance requirements, volatile currency fluctuations and unpredictable regulatory changes have traditionally laboured merchant operations, negatively impacting business performance and operational efficiency. Nucleus365’s Local Payouts solution solves these issues by enabling merchants to pay local sellers and partners by depositing region-specific currencies directly into local bank accounts, all through their centralised platform. In doing so, merchants are afforded simpler and faster local payout methods by seamlessly transferring money from traditional bank rails to local bank rails, in one simplified process providing increased foreign exchange and cross-border payment control.
Local Payouts offers extensive coverage tailored to merchants with expanding global operations. Unlocking global payment accessibility, the Local Payouts function is available across 132 countries in 80+ currencies, facilitated by 235+ verified partners. The majority of these countries have a real-time or same-day settlement time. With the longest payment time at T+1, merchants are assured of fast, adaptable and secure payment facilitation. Nucleus365’s Local Payouts have a reach of 4 billion bank accounts and 2.8 billion mobile wallets, providing localised conversions and payments on a new scale.
Sophie Flynn, Co-Founder and CFO at Nucleus365 said “Local Payouts is another significant service update that continues Nucleus365’s mission to put merchants in full control of their payment-making. Accessing 4 billion bank accounts through 132 countries provides our clients with a phenomenal reach that will prove critical to our clients’ global business growth in the future. Nucleus365 is excited to bring efficient and effective local payments on a global scale, at a time when e-commerce growth continues to surge.”
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