Throughout the last few years, business processes have become simpler and more efficient with the help of new technologies. Support calls have become on-demand chatbots, shipping times have narrowed dramatically, AI has allowed us to streamline processes, and much more.
In a world where instant gratification and quick solutions are expected, customers also now expect to receive their cash disbursements quickly.
Thankfully, tools like Giftogram make it easy for businesses to transition from slow-paced paper checks to instant digital cash disbursements that send funds in as fast as a few seconds.
What are digital cash disbursements?
Digital cash disbursements empower companies to deliver funds instantly to recipients in a variety of ways, including:
- Gift cards
- Prepaid Mastercard and Visa cards
- PayPal, Venmo, Zelle
- ACH payments
Digital cash disbursements are efficient for businesses because funds can be sent instantly, without the hassle of having to print, package, and manually track paper checks—a real challenge when sending payments at scale.
Many common scenarios call for payouts to customers, including:
- Refunds
- Rebates
- Appeasements
- Loyalty rewards
- Referral bonuses
- Survey participation
- Overpayment
- Claims settlements
When done right, payouts can be a meaningful touchpoint in your customer relationships. That’s where digital cash disbursements are your secret weapon.
Think about the above scenarios in terms of paper checks vs. digital cash disbursements.
Rather than fielding a support call from a customer waiting for a loyalty rewards check, you could send a digital cash disbursement to their email inbox the moment they hit that VIP purchase tier. Which experience would prompt your customer to continue earning those loyalty points?
Three reasons your customers prefer digital cash disbursements
A 2019 Federal Reserve payment study revealed that digital payments now surpass checks. With the benefits of speed, convenience, and security on their side, it’s no wonder why your customers welcome digital payments as the new normal.
1. Customers receive payments and rewards (much) faster
Your customers rarely wait for anything these days, so don’t keep them waiting for cash. Digital disbursements are impressively fast, even instant. In many cases, your company can automate payouts, so the speed the customers love and expect is effortless on your part.
2. Funds are ready to use right away
Your customers can access digital cash disbursements immediately. There’s no need to head to the bank or even bother with mobile deposits. Once you send the funds, they’re available for your customer to spend in minutes.
3. Digital cash disbursements are a lot more secure
Your company can send secure digital cash disbursements to anyone in the world. This type of payout is easily trackable, providing real-time insight into who has received their rewards. Not to mention, it won’t get lost in the mail.
Companies love digital cash disbursements, too
Giftogram’s digital cash disbursement platform can improve your company's payout process by delivering the same speed, convenience, and security that customers enjoy.
It's quick and easy to send bulk disbursements—even in bulk
Send secure, large-scale payouts in minutes for any scenario, including gift cards, prepaid cards, and cash disbursements.
Easy to integrate and automate
Save employees’ time by ditching the manual check process in favor of automated rewards and fast cash payouts.
Enterprise-level reporting is easily accessible in the Giftogram platform
Effortlessly track and report on the status of each payout, from initial send to final receipt.
See how easy sending and managing secure customer payouts at scale can be with Giftogram. Get started today. Contact the Giftogram team at hello@giftogram.com or call 973-887-1600.
