Purpose
Payout Methods allow you to configure how customers receive payment for their buyback offers. You can enable or disable payout methods, set payout limits, add descriptions, create custom payout options, and choose which workflows can use each payout method.
Key Features
Enable or disable payout methods.
Set minimum and maximum payout amounts.
Add descriptions to payout methods.
Create custom payout methods with your own name, field name, and icon.
Choose which offer workflows can use each payout method.
Configure expedited payout options and service fees.
Reorder payout methods shown to customers.
Automate payouts using Tremendous.
Open Payout Methods
Click the Settings icon in the bottom left corner of the platform.
Navigate to Payout Methods.
You’ll see a list of available payout methods and the options available for managing them.
Enable a Payout Method
Find the payout method you want to use.
Turn on the toggle next to the payout method.
Once enabled, customers can select the payout method when completing an eligible buyback workflow.
Edit a Payout Method
After enabling a payout method, click the Edit icon to customize its settings.
In the Edit Payout Method section, you can configure:
Payout Method
Set or update the payout method name.Minimum Amount
Set the minimum offer amount required for customers to use this payout method.Maximum Amount
Set the maximum offer amount that can be paid using this payout method. Leave the field empty if you do not want to set a maximum limit.Description
Add a description to explain the payout method to your customers. This description appears when the payout method is selected on your buyback widget.
Select Available Offer Methods
Use the Available Offer Methods section to choose which workflows can use the payout method.
You can:
Select Select All to make the payout method available for all workflows.
Select individual workflows if you want the payout method to be available only for specific workflows.
Available workflows include:
Mail In
Easy Offer
Batch Quote
In Store
Custom Location
This allows you to configure payout methods independently for different workflows.
Create a Custom Payout
You can create a Custom Payout if you want to offer a payout option that is not included in the standard payout methods.
To create a custom payout:
Open the Custom Payout section.
Enter the Payout Name.
Enter the Field Name.
Upload an icon for the custom payout.
Click Save Changes.
Custom Payout Icon Requirements
Suggested size: 56 × 56 px
File format: SVG
Maximum file size: 250 KB
Configure Expedited Payouts
Expedited Payouts provide customers with an option to receive their payout faster.
When enabled, the service fee you configure is automatically deducted from the customer's offer and is shown to the customer.
To configure Expedited Payouts:
Enable Expedited Payouts.
Enter the Expedited Payout Service Fee.
Add an Expedited Payouts Description.
Click Save Changes.
For example, customers may see:
Expedited Payout ($10.00)
Get an express evaluation and receive payout just one day after your package is delivered.
Important Tip: Use expedited payout fees carefully. Charging an expedited service fee while still delaying the customer's processing can lead to a poor customer experience.
The Expedited Payout option will not be shown to customers if the Expedited Payout Service Fee exceeds the total payout amount.
Reorder Payout Methods
You can control the order in which payout methods appear on your customer widget.
The first row will be the first payout option shown to customers.
To reorder payout methods:
Open Reorder Payout Methods.
Click and hold the payout method you want to move.
Drag it to your preferred position.
Arrange the payout methods in the order you want customers to see them.
Save your changes.
Automate Your Payouts
You can streamline your payout process by integrating with Tremendous to provide customers with flexible digital payout options.
Tremendous allows you to provide digital payout options to customers in more than 200 countries.
To explore automated payouts:
Open the Automate Your Payouts section.
Review the Tremendous payout option.
Select Choose Later if you do not want to configure it now.
Follow the setup process to enable automated payouts through Tremendous.
Pro Tip
Tremendous can help simplify the payout process by providing customers with flexible digital payout options worldwide.
Tips & Notes
Use clear payout names and descriptions so customers can easily understand each option.
Minimum and maximum amounts can help control when a payout method is available.
You can make a payout method available for specific workflows instead of enabling it across all workflows.
Use Custom Payout when you need to offer a payout option that is not available in the standard list.
Make sure your Custom Payout icon meets the required file format and size.
Use Expedited Payouts carefully, and ensure the service fee provides a clear benefit to customers.
Reorder payout methods to place your preferred option first in the customer widget.
Common payout methods include PayPal, Bank Transfer, Paper Check, Store Credit, and Zelle.
Summary
Payout Methods give you control over how customers receive payment for their buyback offers. You can customize existing payout methods, create custom options, set payout limits, configure expedited payouts, control the order in which options appear, and automate payouts through Tremendous.