@mitnkulu
Sure– If you have your settings to pay your vendors manually (wp admin > woocommerce > wc vendors > payments) then you can pay them using whatever method you wish on whatever schedule you arrange with your vendors.
You can see this article about how to add custom fields to your settings form: https://www.wcvendors.com/kb/custom-fields-to-shop-settings-page/ so you can collect the vendor’s banking info; and you have the option to hide the paypal email field from the vendor settings and signup forms also (wp admin > woocommerce wc vendors > settings form or signup form) by ticking the checkbox on those settings pages.