Paytm introduces Payout links for businesses: Now sending money without bank details is easy
6 months ago
Today on November 10, Paytm launches the Payout Links for businesses, enabling them to instantly process payouts to customers, employees & vendors, without collecting their bank details.
Paytm Payout Links will offer seamless payment integration for businesses to quickly send incentives and refunds to customers through the easy and inexpensive method of a simple payout link.
It will remove the need to store thousands of bank details of customers and employees. This facility will benefit SMEs in transferring salaries, vendor payments, commissions and gratification, diverse, e-commerce, retail, export, and manufacturing instantly.
Paytm is targeting monthly transaction of Rs. 100 crore with the launch of this service. These Payout Links can be easily created and shared with customers, vendors & employees where the receiver needs to simply open the link, and an automatic list of saved accounts such as Paytm Wallet, Paytm UPI, and connected bank accounts can be chosen to receive money instantly.
The Paytm payout link is driven by powerful APIs on Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly. This facility will help businesses adopt an automated payment mechanism that will save their time, resources, and operational costs, leading to increased business efficiency.