Payouts
On Nium One, clients and customers use Payouts to send money to over 220 countries. They can also make payments in real-time and on-demand in over 100 countries.
Payouts happen in real time as part of an instantaneous money-movement effort. This movement automatically sends money from the source to the destination during the transaction process.
Clients and customers can take advantage of Payouts to make remittances to all their beneficiaries. Payouts are available for the both corporate and individual transactions. This includes:
- Individual to Individual - also known as Peer-to-peer transactions (P2P).
- Corporate to Individual - also known as Business-to-people transactions (B2P).
- Corporate to Corporate - also known as Business-to-business (B2B).
- Individual to Corporate - also known as Peer-to-business transactions (P2B).
The payments get disbursed to your beneficiaries' bank accounts, cards, cash flows, and digital wallets.
Availability
Payouts are available for over 100 currencies:
- Local Automated Clearing House (ACH) to bank accounts — 101 countries
- Local currency wires to bank accounts — eight countries
- Foreign currency wires to bank accounts — ten currencies, 226 countries
- Visa Direct — 87 countries
- Wallets or proxies (mobile number, email address, or ID) — 21 countries
- Paper checks - one country
Foreign exchange rate
To illustrate an example of a payout, say we have a client that wants to pay S$5,000 Singapore dollars (SGD) to employees in Singapore from a wallet with $10K United States dollars (USD).
Using Payouts on Nium One, you send the money for the payment from your USD wallet with $10K to the SGD wallet that has no money. As part of this transaction, your payment goes through the required foreign exchange (FX) money conversion, which happens during the Exchange Rate Lock And Hold API call before the payout transaction.
The FX rate for USD to SGD is 1:1.33. So, for the S$5,000 SGD, the USD equivalent is $3,707. Submitting a $3,707 payout to an SGD wallet results in a payout of S$5,000 SGD.
The FX rate used is taken from Reuters® FX service every day of the week, 24/7-including weekends and holiday-with a refresh cycle rate of 15 minutes. The FX rate is based on the currencies used pairs between the source and destination.
- The payout fee calculation is done in real time during the transaction
- Additional configurations are available for Payouts based on the payment methods used.
Payout corridors
See The Nium Playbook for all the available corridors in the Americas, Europe, the Middle East, Africa, and Asia-Pacific countries. Send money with the Nium platform—filter by country or payout method to explore our offerings.
Payout methods
Payouts support the following payment methods:
| Payment Method | payoutMethod value | Description |
|---|---|---|
| Card | CARD | ISA Direct Debit Cards or China UnionPay Cards |
| Local bank accounts | LOCAL | - Local clearing systems to transfer funds electronically (e.g., ACH) - Local currency wires to bank accounts |
| Proxy | PROXY | Transfers to a national ID, mobile number, or email address |
| SWIFT (foreign currency wires) | SWIFT | Transfers through the Society for Worldwide Interbank Financial Telecommunication |
| Wallet | WALLET | Stored value wallets |
The following diagram shows Payouts using different payment methods.
Payout execution
To execute a payout, you need:
- A remitter or source.
- A payment method enabled with payout capabilities.
- An FX markup configuration per currency pair.
- A payout fee based on the payment method.
- Nium validation services to monitor transactions and a payment partner interface. Nium One has partnered with over 60 payment validation services.
- A beneficiary or destination.
If you have any questions about using Payouts on Nium One, reach out to Nium Support at any time.
Nium Portal
You can also use Nium Portal to create a submit payouts. This is helpful for users with less technical expertise that want to avoid the need to build and integration with the Nium API.
For more details, see Nium Portal - Payouts.