Payouts are for receiving money from Clients. If you are a Client looking to understand how to pay contractors, that's discussed here.
Contractors can add a payout method by clicking on the Add Payout Method button on the Payout Method tab.
You can choose a payout method by
Selecting Bank Transfer.
Add your bank account information: SWIFT/BIC, IBAN, etc
You can send payouts to any country, regardless of where your tax residence is.
If your bank requires verification, it may take up to 72 hours to complete. You will receive an email once the verification is complete.