If you get paid by an online platform, your next payment could land in PayPal or Venmo instead of a bank account. LianLian Global, a cross-border payments company, said Thursday, Oct. 22, that its social commerce, marketplace and eCommerce clients can now send payouts to PayPal accounts worldwide and Venmo accounts in the United States.
What changed
The tools come from a new partnership between LianLian Global and PayPal, and they run on PayPal Payouts. There are three options.
- Pay to PayPal reaches accounts in 96 countries using only an email or phone number.
- Pay to Venmo handles payouts inside the U.S.
- PayPal Payouts for Platforms lets a company send many payments at once.
According to the release, senders no longer need checks and postage. They also do not have to collect routing and bank account numbers from the people they pay. That covers creators, influencers, developers, independent contractors and independent sellers.
What is not known yet
The release does not say what the payouts cost or how fast they arrive. It also does not name which platforms will offer the option. The choice sits with each LianLian Global client, so creators and sellers will need to watch for it on the platforms they already use.
The takeawayPlatforms that use LianLian Global can now pay out through PayPal or Venmo, but fees, speed and which platforms will offer it are not yet clear.