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.

https://blog.paytm.com/introducing-payout-links-for-businesses-a820c51b1219

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.

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.

Also read: http://news.jugaadin.com/paytm-initiative-feature-phone-users-can-now-recharge-through-upi/