Dots Payouts API: What is it and How is Your Privacy Protected?

Security Is Our Top Priority

The Dots payouts API makes it easy to send and receive payments on numerous payment platforms. Privacy and data security are top priorities for any business. With Dots, you can trust that our API makes sure customer and contractor data is safe, protected and compliant with the highest security and privacy standards.

Learn more about the Dots API and how we protect the privacy of our users.

A Brief Overview

First, a brief overview of the Dots platform and how it works.

Dots makes managing payouts as simple and intuitive as possible for all parties. If you send payouts, Dots makes it easy to use multiple payment platforms all from one unified API. You can utilize our payout system for marketplaces, gig workers, independent contractors and more. Developing payout workflows doesn’t have to be complicated. Automate your payout tasks, streamline your accounting and consolidate all of your payment processes in one place.

With Dots, you don’t have to worry about the logistics of accepting and sending payments. Your customers can easily use the payment processors they prefer such as Venmo or Paypal without your developers having to put in extra work. With Dots, you can integrate more payment processors than ever, customize the payment experience for the end user, automate accounts receivable and much more.

We also take care of compliance and data security on the payment side. Here is how Dot’s prioritizes your privacy.

User Data is Never Sold

First and foremost, Dots doesn’t collect data to sell to third parties. User data is only collected for compliance purposes and never for profit. You can rest assured that all user data will not be sold.

In the modern digital ecosystem, customers are more concerned about data privacy than ever. You want to ensure your customers can trust you and that you don’t use their data for the wrong reasons. The Dots API partners with top cybersecurity companies and uses tokenization and encryption processes to ensure you and your customers don’t have to worry about data falling into the wrong hands. Data collected for payout services is also never sold. Your gig workers, freelancers and everyone else in your accounts payable will have their privacy protected as well.

We take data privacy seriously and make sure our users can always feel secure using our API.

Store Your Information Securely

Dots keeps both your information and the information of those you work with secure. Whether you’re taking customer information or contractor information to process payments, you can rest assured that we have quality security standards in place to prevent data breaches and data damage.

Financial information is especially sensitive, which is why we adhere to comprehensive data security measures. We are also transparent about the data we collect and how information is gathered.With Dots, you can stagger your KYC measures so you only collect sensitive data like Social Security numbers only when necessary. All of this can be handled with little to no input from your team. When you use the Dots API, all the security and privacy measures will be implemented without you having to develop any new processes on your end. Just customize your dashboard to include the payment processes you want to use for accounts payable and receivable and we’ll take care of the rest.

Data Privacy Compliant

Adhering to various compliance regulations can be complicated. With Dots API, it’s automatic. Data privacy regulations like GDPR, KYC and KYB are integrated with our payouts API, so you won’t have to worry.

When compliance is neglected, your company can be subject to massive fines and you put customer data at risk. That’s why we continually monitor transaction activities to ensure you remain compliant. Let’s take a look at some of our standard compliance implementations:

KYC and KYB: KYC and KYB stand for Know Your Customer and Know Your Business. These compliance standards are in place to prevent fraud, money laundering and other financial crimes. It protects users from having their financial information and identity stolen and it protects businesses from enabling financial crimes. Let’s take a brief look at both:

KYC: Know Your Customer ensures a customer is who they say they are. It verifies their identity through personal information. KYC also helps to identify a user’s risk level for corruption and other illicit activities.

KYB: Know Your Business is more complicated than KYC, as you need to verify a business. KYB checks require a diverse set of data that could include shareholder information, tax debts, legal documents, employee data, beneficiaries, manager information, assets, subsidiaries and much more. Verifying and authenticating a business prevents fraudulent business activities and financial crimes. KYB also requires ultimate beneficial ownership (UBO) procedures to determine who benefits from a business's profits.

KYB and KYC checks are necessary and need to be done regularly. The regulations and laws can also vary by country, making compliance especially complex. With Dots, you can simply connect our API and we’ll take care of payment and payout compliance for you. It’s that simple.

The General Data Protection Regulation (GDPR): The General Data Protection Regulation is required if you operate in the European Union, your customers shop from the EU or any of your contractors work in the EU. GDPR has become a data compliance standard and is considered one of the strictest security laws in the world. By following GDPR compliance, you have a robust framework in place to protect user data and properly handle user information.

Get Started With Dots Today!

Dots is the best solution for offering multiple payout options. Send and receive payments with ease while ensuring you’re compliant with the latest security and data privacy standards.

By offering multiple payment processing options, you can increase conversions, simplify paying contractors and more. Use Dots instead of dedicating extra time, money and resources to developing unique workflows for each processor. Schedule your demo today to see how our API can help your business.