What is the difference between a Payout and the program's Reward Rules?

Daniel Misico Updated by Daniel Misico

A Payout is set up at the account level and determines the Currency and Type of reward. Reward Rules are then set up within each program and associated with a Payout. Reward Rules determine the Amount and at what status the reward is earned (Pending, Qualified, or Approved). The image below shows a breakdown of an example reward.

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How can I schedule my payouts to issue at a certain time?