Payout Systems
Payout systems are platforms or services that facilitate the distribution of funds from businesses to recipients, such as employees, contractors, vendors, or customers. They handle tasks like payment processing, currency conversion, tax compliance, and fraud detection to ensure secure and efficient transactions. These systems are commonly used in payroll, gig economy platforms, affiliate marketing, and e-commerce for automated disbursements.
Developers should learn about payout systems when building applications that involve financial transactions, such as payroll software, marketplace platforms, or subscription services, to ensure compliance, security, and scalability. They are essential for automating payments, reducing manual errors, and integrating with banking or payment gateways, making them crucial for fintech, SaaS, and gig economy projects.