Many companies find it challenging or even impossible to make payments to individuals, especially across the border. Smartcat fixes this problem.
Making and receiving payments in Smartcat has many benefits both for you and your customers.
- You can receive payments using your preferred method. The customer pays using their preferred method — the same way as if they were working with a corporate vendor.
- You won’t face any exchange control problems receiving money from foreign customers — the payment is credited right to your bank card or using any other method of choice.
- Both you and your customer save time and money.
Let’s take a step-by-step look at how you receive payments in Smartcat:
- You can either create an invoice on the My Payouts page or invite your customer to sign up in Smartcat using a special payment link.
- The customer will pay the invoice issued by Smartcat using a bank card or wire transfer in their preferred currency and jurisdiction.
- Your Smartcat balance will be credited as soon as payment is received from the customer.
- Your full balance will be paid out automatically within 3 business days using your preferred payment method.
You can receive payments in Smartcat for the tasks you have completed even if you didn’t use Smartcat for translation. If you did use Smartcat, however, the invoice will be issued automatically.
From the customer’s perspective
The customer can download the invoice and either make a wire transfer or pay using a bank card.
Smartcat pays out your full balance automatically provided that you have specified the preferred payout method on the My Payouts page.
The following payout methods are supported:
- Debit or credit cards.
- Smartcat Mastercard.
- PayPal (PayPal fees apply depending on your location and currency).
- Wire transfer (no fees for payments over $250).
You will receive email notifications after any change in your balance or payment status. Also, you can track your payments anytime under the Payment Statuses tab on the My Payouts page.
Is there a service fee?
The Smartcat fee will be 5% of the amount payable. For most companies, this is much less than what they would have to pay for any other methods, so they can easily add it on top.
If you have any questions about payments, just drop us a line at email@example.com.