New Withdrawal Flow is Now Live
We are always working to enhance your experience and simplify your financial transactions. This upgrade is the direct consequence of our effort to offer you a more efficient, adaptable, and user-friendly platform. This Product Update article describes the advantages and benefits of this addition.
Understanding the need for an update.
Although effective, our prior Withdrawal Request Flow had certain limitations, notably in dealing with various withdrawal cases. We received your input on the need for additional flexibility in handling refunds, profit distributions, and multiple payment options. This upgrade immediately addresses these concerns, resulting in a more flexible system for all withdrawal processing requirements.
Introducing New Refund and Payout Subtypes
The heart of this upgrade is the addition of two separate withdrawal transaction subtypes: refund and payout. All withdrawals were previously grouped under a single ‘Withdrawal’ subtype. This novel technique has considerable advantages:
- Clear Transaction Categorisation: Separating Refunds and Payouts enables accurate monitoring and categorisation of various forms of withdrawals.
- Improved handling of certain scenarios: Refunds are now expressly allocated for transactions involving consumer deposits, generally when repaying initial money. These are utilised when the withdrawal amount is between the lifetime deposit and lifetime withdrawal limits.
Payouts are intended for instances in which a refund is not available. This includes profit distributions and non-refundable deposits. Payouts use pre-configured payment mechanisms appropriate for certain cases.
- Optimised Payment Method Management: The redesigned flow guarantees that the proper payment mechanisms are used for each subtype (Refund or Payout), following best practices and payment processing standards.
To summarise, let’s see the key benefits our clients have with the new Withdrawal Request Flow.
- Improved Efficiency for CRM Users
A revamped Withdrawal Request Page serves as a centralised hub where all relevant information is easily accessible, expediting the processing procedure.
- Simplified Workflow
Dedicated tabs for ‘Deposits,’ ‘Refunds,’ and ‘Payouts’ on the Withdrawal Request Page make it simpler to browse and handle the many components of the withdrawal process.
- Greater flexibility
Adding Refund and Payout subtypes allows more flexibility in managing diverse withdrawal circumstances, ranging from deposit returns to profit payouts.
- Improved Clarity and Tracking
Separate subcategories and clear interface components increase the clarity of the withdrawal process and transaction monitoring.
- Future-Ready Foundation
This improved flow paves the way for future advancements, such as automated withdrawal processing.
Conclusion:
We believe this updated Withdrawal Request Flow represents a significant step forward in enhancing the efficiency and flexibility of our platform. We are confident that these improvements will provide a smoother, more intuitive experience for our CRM users and contribute to overall operational excellence. We encourage you to explore these new features and experience the benefits firsthand.
As always, we value your feedback. Please don’t hesitate to contact us with any questions or comments.
