Cloudfloat offers flexible payment options for managing your supplier payouts efficiently. You can choose between two main methods: Cloudfloat Wallet and Account-to-Account transfers. Each method has its benefits, and understanding them can help you optimize cash flow and ensure timely payments to your suppliers.
1. Cloudfloat Wallet
The Cloudfloat Wallet is our preferred method for supplier payments, designed for speed, convenience, and flexibility.
Key Benefits:
Real-time payments: Your suppliers receive funds immediately after you initiate the payment, without the usual 24–48 hour processing delay.
Flexible repayment: You can choose to pay in full or use instalment plans, giving you more control over your cash flow.
Instant fund availability: Once the payment is sent from your Cloudfloat Wallet, the supplier can access the funds as soon as their bank completes verification. Typically, this may take up to 48 hours, depending on the supplier’s bank processing times.
Enhanced tracking: All Wallet payments are recorded in your Cloudfloat dashboard, making it easy to track and reconcile supplier transactions.
Future Improvements:
We are continually upgrading the Cloudfloat Wallet to enable near-instant settlements, so payments will become even faster and more seamless, giving both you and your suppliers a smoother experience.
2. Account-to-Account Transfers
The Account-to-Account method is our traditional payment option and works well for standard business transactions.
Widely accepted: Works with any supplier that accepts bank transfers, without requiring any additional setup.
Highly secure: Transactions are processed through established banking systems, providing reliable protection for your payments.
Transparent processing: You can track payments via your bank, giving you confidence in the timing and completion of transactions.
Consistent record-keeping: These transfers provide a straightforward audit trail for accounting and compliance purposes.
Processing Time:
While these transfers typically take up to 5 business days, they are a trusted method for businesses that value stability, reliability, and standard banking practices.
Choosing the Right Method
Use Cloudfloat Wallet if you want fast, flexible, and easily trackable payments.
Use Account-to-Account transfers if you value security, universal acceptance, and consistent banking procedures.
Summary
Cloudfloat makes supplier payouts simple, reliable, and flexible. The Wallet offers speed and flexibility, while Account-to-Account transfers provide a secure, trusted, and universally accepted payment method. By offering both options, Cloudfloat ensures your business can manage supplier payments in the way that best fits your needs.