Overview
The Leatherback Payout platform provides merchants with the infrastructure to send funds across multiple countries and in various currencies. The system supports both single recipient transfers and high volume bulk payouts, whether the destination is a local bank or an international institution.
Our payout architecture supports two primary transaction types.
- Domestic Payouts
Transactions where funds are transferred within the same country and currency ecosystem.
- SendR (Cross Currency)
Cross border transactions where the source and destination currencies differ.
Leatherback Payout Accounts
To facilitate the movement of funds, the platform uses a wallet based account structure that is aligned with your business's legal identity.
Default Account Provisioning
During the merchant onboarding process, Leatherback automatically creates a default payout account. This account is denominated in the currency of the merchant's country of incorporation or residence.
Example
A merchant incorporated in the United Kingdom will be assigned a GBP (Great Britain Pounds) payout account by default.
Requesting Additional Currency Accounts
Although a default account is created at sign up, merchants are not limited to a single currency account. Additional payout accounts in other currencies can be requested through the Global Payout Menu in the Fusion portal.
Audit and Compliance Protocols
To ensure the integrity of the Leatherback ecosystem and maintain compliance with global financial regulations, the following standards apply to all payout accounts.
- Subject to Approval
Requests for additional currency accounts are not automatically approved. Each request goes through a formal review process.
- Required Documentation
Merchants must provide supporting documentation for every additional currency account requested. These documents typically justify the business need for holding funds in that specific currency.
- Vetting Process
All requests and supporting documents are reviewed by the Leatherback compliance team. Accounts are only activated once they meet all applicable requirements.