What tool to use to automatically pay people?
I am creating a marketplace-style website where people can post their content and charge money for it. Every week/month, we need to issue a payment to give the authors the money that they earned (minus a fee).
I plan to use Stripe to collect money from the readers, but is there an equivalent tool for paying your users?
You can use Stripe to pay users: https://stripe.com/docs/connect.
I am planning to use Stripe Connect for those who have Stripe account and for others I am exploring https://plaid.com/.
Let them each choose how they wish to be paid, whether it's PayPal, Stripe, Bitcoin, Money Order in the mail, international wire transfer, whatever... put different fees / minimum waithdrawal amounts on each, and let them choose.
What happens to the money after it reaches your Stripe account, they get into your bank account, right? If not, you can probably send them directly from Stripe.
Depending on your location, the bank itself where you receive the money might have an API that you can tap into to initiate funds transfers. But that might cost too mcuh due to bank transfer fees. How will the customers receive the money? Do you want to send them to a different platform or just link their PayPal account/bank details?