How Your Small or Medium-Sized Business Can Benefit From Mass Payouts

How Your Small or Medium-Sized Business Can Benefit From Mass Payouts

Blockchain technology has revolutionized the way employers and employees settle payments by offering a wide range of options. The decentralized nature of blockchain technology provides both parties with access to secure and efficient payment methods, paving the way for a more seamless and transparent financial landscape at work.

Moreover, the growing acceptance of cryptocurrencies have made them increasingly appealing as a payment method. For employers, embracing blockchain-based solutions for payroll management brings forth numerous advantages that significantly enhance their operations -- employers can unlock a numerous benefits, including enhanced flexibility, fast transaction speed, transparency, and unparalleled convenience. These advantages not only streamline the payment process but also promote trust and accountability within the employer-employee relationship.

However, despite the undeniable advantages of blockchain-based solutions, navigating through such systems can often be quite a time-consuming task. This is where the Mass Payout feature offered by Plisio comes to the rescue. With its user-friendly interface, the Mass Payout feature simplifies the entire process, allowing employers to effortlessly manage and distribute payments to company employees.

In this article, we will consider every aspect of the Mass Payout feature. Whether you are a small business owner or a large enterprise, this innovative feature is set to revolutionize the way you handle payroll, enabling you to streamline operations and ensure timely and secure payments for your workforce. 

What is a Mass Payout feature?
The Mass Payouts feature is an exclusive tool offered to users seeking to perform numerous cryptocurrency transactions efficiently. By utilizing the Mass Payments solution, users can forget about the necessity of manually executing each transaction and dedicate their valuable time to more meaningful tasks. Simply put, the Mass Payments tool streamlines the process of sending crypto transactions, ultimately conserving both your time and resources.

Advantages of using Mass Payments through the example of Plisio Crypto Gateway
Enhanced Transaction Settlement Speed. In today's fast-paced digital world, the speed of transaction settlement is quite important. When it comes to utilizing cryptocurrency payments as a traditional option, employers often find themselves burdened with the task of individually noting down wallet addresses for each recipient, typically their employees, and sending individual payments to each one of them. This manual process can be time-consuming and inefficient.

However, the advent of Plisio has revolutionized this entire procedure by automating the payment process. Employers no longer need to dedicate their valuable time to managing each employee individually. Instead, all they have to do is provide the crypto addresses, add them to the Plisio list, and rest assured that all future payments will be handled automatically. 

Cost-Effective Solution. Businesses and services that work with cryptocurrencies often face the challenge of sending multiple payments separately, resulting in network fees for each transaction. While these fees may not seem expensive individually, over time they accumulate and transform into substantial costs for the company. Leading cryptocurrencies like Bitcoin and Ethereum are notorious for their high fees, exacerbating the financial burden for businesses.With Plisio, employers can save up to 80% on fees. 

Plisio addresses this issue by providing a practical solution to reduce fee expenses. Through the Mass Payments tool, companies can consolidate numerous small transactions into a single batch, effectively minimizing costs. By optimizing the payment process, Plisio allows businesses to allocate their financial resources more efficiently.

Wide Cryptocurrency Selection. The Mass Payment tool offered by Plisio boasts an extensive array of available cryptocurrencies. This versatility ensures that employers are not limited by the exact cryptocurrency preferences of their employees. With the ability to deposit over 19 different cryptocurrencies and select various options to send out to employees, employers can effortlessly accommodate their workforce's cryptocurrency requirements.

User Privacy. With Plisio, users can leverage the benefits of cryptocurrency without undergoing the Know-Your-Customer (KYC) procedure, affording them the option to remain fully anonymous should they choose to do so. This privacy-enhancing feature enables employers to safeguard the identities of their employees, ensuring their sensitive information remains undisclosed to any third party.

Flexibility and Scalability. Plisio imposes no limitations on the number of recipients that employers can add to their payment list. This flexibility grants employers the freedom to include any number of deposit addresses to which they wish to send cryptocurrency. Once added, Plisio expedites all transactions swiftly and efficiently. Such scalability empowers employers to expand their businesses to new heights, as they can seamlessly integrate an ever-growing number of employees into this comprehensive payment solution, providing them with the motivation to pursue further growth and success.

How to set up mass payments
As it was stated above on the example of the Plisio cryptocurrency gateway, setting up mass payments can be a convenient and efficient way for employers to distribute funds to multiple recipients. In this case, the employer acts as the merchant and initiates the process by depositing funds into their account. This initial deposit serves as the basis for the subsequent transactions.

1. To begin, the employer needs to access the official Plisio website and create a free account. Once the account is set up, the next step is to navigate to the settings section and integrate an API to their website. This key will serve as a unique identifier for the employer's account and facilitate secure interactions with the payment system.

2. Go to settings and activate the Mass Payout feature through their Dashboard. Once the Mass Payments feature is activated, the employer can proceed to deposit cryptocurrencies into their account. This can be done using the preferred cryptocurrencies supported by Plisio. By offering a wide range of supported cryptocurrencies, Plisio caters to the diverse needs and preferences of employers.

3. Once the deposit has been made, the employer can create a mass payout. By selecting this option, the employer gains access to an intuitive interface where they can upload a file containing the recipient's wallet addresses and the corresponding amounts of money to be sent. This streamlined process allows employers to efficiently manage large-scale payments without manual input for each transaction.

After uploading the list is uploaded, Plisio can take over the rest of the process. This automation simplifies the overall procedure and ensures that payments are distributed accurately and swiftly to the intended recipients. Employers can have peace of mind knowing that Plisio handles the transaction logistics, minimizing the administrative burden on their end.

In summary, the process of setting up mass payments involves several steps that enable employers to leverage the full potential of this convenient feature. By following the guidelines outlined above, employers can establish their account, activate the Mass Payments feature, deposit cryptocurrencies, upload recipient information, and let Plisio handle the rest. This efficient process streamlines payment distribution and saves employers valuable time and effort, allowing them to focus on other aspects of their business.

Please note that Plisio also offers you:

Create Crypto Invoices in 2 Clicks and Accept Crypto Donations

12 integrations

6 libraries for the most popular programming languages

19 cryptocurrencies and 12 blockchains