Hey,
Is it possible to directly transfer the payments to user accounts. I have an invoicing platform where users can create invoices to receive and I want that whenever an invoice is paid, the payment should directly move to that user's bank account. I didn't find any way to attach bank account in Authorize Net like Plaid or Stripe connect provides this functionality.
Please guide.
Thankyou
โ05-15-2024 11:08 AM
Authorize . net itself doesn't currently offer direct bank account transfers to vendors like Plaid or Stripe Connect. Authorize . net focuses on processing credit card and electronic check (ACH) payments.
Here are a couple options to consider for your invoicing platform with vendor payouts:
Third-party Integration: Explore integrating a third-party service like Plaid or Stripe Connect alongside Authorize.net. These services specialize in facilitating secure bank account connections and payouts. You can process the invoice payment through Authorize . net and then use the integrated service to transfer funds directly to the vendor's bank account.
Manual Payouts: If you prefer not to integrate a third-party service, you can choose to handle payouts manually. After receiving the payment through Authorize . net, you'd be responsible for initiating transfers to vendors through your own business bank account or another payment processor that supports ACH transfers.
โ06-21-2024 05:47 AM