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Does anything else like this currently exist? If so, I can't think of it off the top of my head.
by singingwolfboy 14y ago
Does anything else like this currently exist? If so, I can't think of it off the top of my head.
- mschonfeld 14y agoThere are a few services like this out there, but they use the "old rails" (e.g Paypal, ACH, etc), and they charge fees per batch, as well as per transaction. So yes, there are similar things, but all of them are wildly more expensive...
- buro9 14y agoWith email? Not that I can think of. But with regular payments? Yes, most UK banks offer batch payment facilities to business customers in the form of a CSV interface. It's how a lot of wages are processed. The wage/accounting tool produces a batch payment file, and the bank just processes it.
- mschonfeld 14y agoIf only the US banking system was as advanced as Europe's...
- jdangu 14y agoFWIW, CSV upload for ACH payment is a typical feature of online banking for business accounts in the US.
- buro9 14y agoI don't know whether that's sarcasm or not. I originally didn't include "UK" in my post, but then realised that my knowledge was only of UK banks and that like direct debits it may be a country specific thing.
- mschonfeld 14y agoNo no, it was actually sincere. I think that the UK's financial ecosystem is far more advanced than ours in the US... Money transfers are faster, more secure, and there's more of a general sense of progress...
- wiredfool 14y agoExcept for that one bank that managed to not be able to run it's nightly batches for nearly a month earlier this year. (RBS I think?)
- Ataub24 14y agoYea there are things- like Checks, Paypal, ACH, and others. We tried to build the cheapest and easiest thing possible to help merchants pay out.
- jcampbell1 14y agoPaypal MassPay is what everyone already uses. %2 transaction fee, capped at $1. Dwolla is a bit cheaper, but the price difference is meaningless in most cases. This just brings Dwolla closer to feature parity. I pay about 100 people using the paypal masspay api every quarter, and I wouldn't even consider allowing Dwolla unless they had this feature.
- mschonfeld 14y agoPaypal only lets you send in up to 250 rows, right? We've set that to 2,000 - and also uncap it for trusted users... At 250 records, the fee difference might not be much, but at 2,000 - it can quickly add up to a nice sizable sum, don't you agree?
- sachinag 14y agoWith a CSV. You can do as many as you want via the API.
- jcampbell1 14y agoI am confused. Paypal charges the fee per transaction. running mass pay 1000 times with 1 transaction is the same price as running it 4 times with 250 transactions. Paypal lets you run as many total transactions as you want. The max batch size is 250.
- Payouts 14y agoPayPal MassPay charges per trxn. PayPal MassPay API: 250 trxns max per call PayPal MassPay Manual CSV upload: 3,000 trxns
- forcer 14y agoPaypal Masspay has been discontinued. If you don't have that facility already enabled, you cannot make mass payments See this email from paypal when we tried to enable it: ------------------------------------------------------ Thank you for contacting PayPal regarding mass payments. Mr X the mass payment facility is no longer available, the information is kept on the web site, purely for the benefit of customers who have already had this facility activated. I apologise for any inconvenience that this may cause.