Key Concepts
Simple Pay
Simple Pay is a direct payment between two businesses. Funds are transferred to the recipient once the payment is processed.
Protected Pay
Protected Pay holds funds in escrow until the transaction conditions are satisfied. The payee requests release, and the payer approves it before funds are transferred.
Business Contacts
Business Contacts are counterparties you transact with on LiquidTrust. You must invite a counterparty and have them accept before you can send or receive payments.
Counterparty
A counterparty is the business you are sending a payment to or receiving a payment from.
LiquidTrust Balance
Your LiquidTrust Balance represents funds held within the platform that are available for payout.
Funds appear in your balance after:
- Receiving a Simple Pay payment
- Funds being released from Protected Pay
Initiate Payout / Transfer Out
Initiating a payout (also called Transfer Out) moves funds from your LiquidTrust Balance to your external bank account. Payouts can be sent via ACH or wire transfer.
Auto Payouts
Auto Payouts automatically transfer available funds from your LiquidTrust Balance to your default bank account whenever a balance is available.
Approval Policy
An approval policy requires certain payments to be reviewed and approved by a designated manager before they are processed. Approvals are tied to specific counterparty contacts.