Batch Payment Software Solution
Our Batch Payment Solution is designed to execute multiple payments faster, safer, and more efficient. Whether you’re paying employees, vendors, or processing customer refunds, you can complete hundreds of transactions in a single go, saving both time and efforts. Request a Demo
Simplify Bulk Transactions with Ease
Experience the smarter way to handle mass payments. Integrate our Batch Payment System into your workflow and focus more on growing your business while we handle the payouts.
Identity Payment List
Group Payments into Batch
Ensure Data Integrity
Execute Payment Batch
Initiation, Data Preparation
The batch payment process begins with the initiation of a payment request. This usually stems from a need to pay multiple recipients simultaneously, such as employee salaries, vendor invoices, or customer refunds.
- Data Collection: The first step involves gathering all the necessary payment details. This usually includes – Recipient Name, Recipient Account Number/IBAN, Amount and Currency etc.
- Data Validation: Once the data is collected, it’s crucial to validate its accuracy and completeness. These validations includes Format Checks, Duplicate Checks, Threshold Checks.
- File Creation: The validated data is then compiled into a batch payment file. The format of this file depends on the payment system being used (e.g., CSV, XML format).
Authorization and Approval
Before the batch payment file can be processed, it needs to be authorized by designated personnel. This step ensures that the payments are legitimate.
- Approval Workflow: A defined approval workflow should be in place, specifying the individuals or departments responsible for authorizing batch payments. The approval process may vary depending on the payment amount or the type of payment.
- Dual Control: Implementing dual control, where two or more individuals are required to approve a batch payment, can significantly reduce the risk of fraud or errors.
Payment Processing
Once the batch payment file is approved, it’s submitted to the payment system for processing.
- File Upload: The approved batch payment file is uploaded to the payment system. This may involve using a secure web portal, an API, or a direct file transfer protocol.
- System Validation: The payment system performs its own validation checks on the file, such as verifying the file format and ensuring that the data is consistent.
- Payment Execution: If the file passes the system validation checks, the payment system initiates the transfer of funds to the recipients’ accounts.
- Status Updates: The payment system provides status updates on the progress of the batch payment. This may include information on successful payments, failed payments, and payments that are pending further review.
Reconciliation and Reporting
After the batch payment has been processed, it’s essential to reconcile the payments and generate reports for accounting and auditing purposes.
- Exception Handling: Investigating and resolving any discrepancies between the payment system and the accounting system. This may involve contacting the payment system provider or the recipients to clarify the payment details.
- Reporting: Generating reports on the batch payment, including details of the payments made, the fees charged, and any exceptions encountered.
- Audit Trail Review: Periodically reviewing the audit trail to ensure that the batch payment process is being followed correctly and that there are no signs of fraud or errors.
Solution
VayuPay gives that privilege to allow your customer to transfer money on finger tip without any difficulty or stiffness.
- Bulk Payment Processing – Pay hundreds or thousands of recipients at once.
- Multi-Currency Support – Send payments globally with real-time currency conversions.
- Error-Free Transactions – Automated validation ensures accuracy before processing.
- Flexible Upload Options – Import payment files via CSV, API, or direct integration.
- Detailed Reporting – Get clear insights into payment status, approvals, and history.
- Role-Based Access – Manage permissions securely across your finance team.
- Robust and extensible system.
Features
1. Compliance Enabled
Get to know your customers better with our KYC feature. Manage key data of each customer record such as personal, address information, or even a photograph. Additionally link soft copies of KYC documents for each customer with notes and time stamp to maintain a strong KYC policy.
Money laundering is a very serious key issue and one which may affect your business deeply. To help your business stay ahead, Vayupay is fully capable to be integrated the relevant modules, so you have to only focus on doing business.
We do have a LINKED Transaction mechanism with complex rules to ensure you are protected from frauds.
2. Security
Robust security, Fraud Prevention and strong encryption to ensure that your each user and transaction is safe. With Roles Based access control allow access to only authorized users.
3. FX Rates & Charges Management
Set your custom currency feed or real-time. Take control and customize your exchange rates and order fee structure.
4. Multi Currency
Vayupay support multiple currencies for transfer to access more customer base for your business. You have full administration over currency management, enable/disable currency and addition of new currency.
5. User & Order Management
Vayupay offers a very easy, quick transaction steps for customers to get a hassle free experience. Customer has full beneficiary and transaction history for future reference. Track Transaction enables the current transaction status.
Set up transaction restrictions, such as limit for sending/receiving money, KYC rule based restrictions etc.
Payment Gateway Integration: Deliver flexible payment options for your customers through Paypal, debit/credit card, bank transfer.
Send real time transaction notifications via SMS and Responsive Emails to deliver email support for all modern devices.
6. Real Time Profit Monitoring
Evaluate your profits in real time and ensure that every single transaction delivers value to your business.
7. Effective User Interface
Gain large user base with multi device support (Web, Tablet, Mobile). With multi lingual support and great user experience, deliver great values and satisfaction to your customers.
8. Reporting
Monitor and analyze your business activities with general graphs and detailed reports. Run advanced reports on each user and with different filters and export them in different formats i.e. pdf, csv etc.
Accelerate your business with our digital financial solutions?
We will be pleased to help you to bring for your dream business plan to real world.