borderless™ provides a Global Payouts API that enables businesses to make payments in local currencies to recipients in over 120 countries using local payment rails. The platform streamlines compliance and onboarding while offering multiple payout methods, resulting in an average savings of over 30% on transaction costs.
Funding
$30K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Businesses face complexities and high costs when making payouts to recipients in different countries, including navigating various local payment rails, ensuring compliance, and managing onboarding processes. These challenges can lead to increased transaction fees and operational overhead.
Solution
borderless™ provides a Global Payouts API that enables businesses to make payments in local currencies to recipients in over 120 countries, leveraging local payment rails. The platform streamlines recipient onboarding, automates payouts, and offers tools for efficient compliance and tailored approval flows. By providing access to a multi-rail smart infrastructure, borderless™ optimizes payment delivery, reduces costs, and avoids unnecessary delays associated with international transactions. The platform supports multiple payout methods, including bank transfers, card payments, and e-wallets, enhancing the recipient experience.
Target Audience
The primary target audience includes marketplaces, businesses, and platforms that need to send payments to contractors, vendors, or partners globally, such as freelancer marketplaces, influencer platforms, and gig economy companies.
Features
- API-driven platform for sending payouts in 120+ countries using local payment rails
- Support for multiple payout methods, including bank accounts, cards, PayPal, and Venmo
- Automated recipient onboarding with self-service and white-label options
- Tools for secure collection of bank and tax information, ensuring global KYC compliance
- Customizable payment approval flows with multi-tier limits and approvers
- Real-time payout tracking and management dashboard for recipients
- Integration with existing payment processors and banks
- SOC 2 Type II, GDPR, and EU-US Privacy Shield compliance