Mass payments

Initiate and handle mass payments using the Penny Bulk Funds Transfers.

November 9, 2020

We understand that time is money. Penny we aim to provide quick and convenient functionality for our clients that provide a faster and smoother user experience and to assist them in better serving their end users. One such feature we provide is the ability to initiate and handle mass payments using the Penny Bulk Funds Transfers.

A mass payment is a method of transferring funds to multiple recipients simultaneously. Developers already have built built in this component as part of their integration with Penny's API to allow their customers to send 1000's of payments with just a few lines of code and a single request to the API. Penny Central administrators are now able to initiate unlimited payments asynchronously with just a couple clicks in the portal. Each item is processed one after the other, at a rate between 0.5 and one second.

Each mass payment includes the status (failed, pending, processing, complete) of each individual payment that was sent to a specific destination. It also includes the dollar amount of each payment that is being sent to each user. Payment errors and details of those errors are also key pieces of information that are broken out for each transfer. Clients can use this information to easily audit the status of these transfers and troubleshoot any failed transfers.