Payouts Network Announces Partnership with Priority Commercial Payments/CPX

BOZEMAN, Mont., Oct. 29, 2019 /PRNewswire/ -- Payouts Network – an industry leader in financial technology, announced today a partnership with one of the fastest growing payments companies in the US, Priority Commercial Payments.

Traditionally, businesses have relied on the use of checks, gift cards, paper vouchers and ACH to provide payments to consumers, employees and businesses. "These methods are cumbersome, costly, and difficult to administer," explained Payouts Network CEO, Keith Smith. "Our highly-scalable platform simplifies the complexity associated with traditional payment methods by enabling businesses to send payouts that are instantly or programmatically deposited into the account of the recipient's choice. "

Payouts Network's Instant Payouts product will enable Priority Commercial Payments to offer its restaurant merchants the ability to digitally dispense tip payouts to employees both quickly and securely, removing the friction associated with cash management, while increasing employee's satisfaction and retention.

"An important point is the safety of the restaurant employees and the large amount of cash they typically leave with late at night," explained Priority Commercial Payments President, Cindy O'Neil. "By digitizing the money from the restaurant to the employee's bank account, it greatly reduces the risk of loss due to theft or misplacement."

Priority Commercial Payments will also utilize Instant Payouts to speed up the process of returning security deposits to short-term renters. "Typically, it can take up to 17 days for renters to get deposits back." With Instant Payouts, we can cut down that time to hours," she revealed. O'Neil is also excited to streamline customer payments for insurance claim distribution.

"We're truly honored and excited to partner with Priority Commercial Payments," said Payouts Network CEO, Keith Smith. "We're looking forward to helping further innovate the way payouts and compensation are handled across multiple industries."

For more information, please visit payoutsnetwork.com.

About Payouts Network, Inc.

Payouts Network is innovating the next generation of payments by enabling businesses to originate, approve and issue payments in near real-time to consumers, employees and businesses. Their industry-leading intelligent platform transforms the complexity of payments into an economical, highly secure and fully transparent process that delivers the speed, security and control required by businesses and consumers. Headquartered in Bozeman, MT, Payouts Network enables businesses to streamline their payment processes across multiple industries, including travel, hospitality, insurance, financial institutions, large employers and more. For more information please visit www.payoutsnetwork.com.

About Priority Commercial Payments/CPX, Inc.

Priority Commercial Payments/CPX, Inc. is a leading provider of commercial payment and merchant acquiring solutions, offering unique products and service capabilities to its merchant network and distribution partners. The enterprise operates from a purpose-built business platform that includes tailored customer service offerings and bespoke technology development, allowing it to provide end-to-end solutions for payment and payment-adjacent opportunities. Headquartered in Alpharetta, GA, Priority has approximately 500 employees and is led by an experienced team of payment technology executives. For more information please visit www.prioritycommercialpayments.com.

Contact:
Ariel Paradis[email protected]

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SOURCE Payouts Network