Paytm Payout processed over Rs 1500 crore salaries for SME’s amid lockdown
1 week ago
Paytm announced that its digital money transfer service Paytm payouts has processed over Rs 1500 crore in salaries and other benefits amid lockdown.
During the lockdown, over 5000 companies have used Paytm payouts to pay salaries & food allowances to employees, incentives & rewards to housekeeping, laborers & other contractual staff; and even for expenses like utility bills of their offices.
Companies like Pidilite Industries, Schneider Electric, and Havmor Icecreams Pvt. Ltd. use the service to transfer money to their employees, vendors, and business partners. Within 3 months of lockdown, we have transferred over Rs. 1500 crores either to the Paytm wallet, food wallet, gift voucher, or bank account of millions of beneficiaries, company announced.
The Paytm payout service launched earlier this year gain momentum during the lockdown as the adoption of digital technology for money transfers increased. This service also helps the companies to manage their entire business with Current Accounts, Collections, Payouts, and business expenses. Also, it offers the highest transaction success rate in the industry.