When you’re in business, there are times when you need to make transfers such as vendor payments, customer refunds, employee salaries, customer rewards, etc. For this, it is important to have a system that goes beyond the working days and hours.
Considering the number of customers paying via Cash on Delivery in India, let’s take up the scenario of making a refund to a customer. In this, there is a lot of hassle in terms of collecting the bank details of the customer and then validating the same. On a large scale, a business receives multiple return requests. It becomes a tedious process taking up too much time and manual effort and cannot be overlooked.
After considering the above-mentioned problems, we decided to come up with a solution to make payouts for businesses easy — Paytm Payout Links.
Paytm Payout Links is the simplest way to send funds without having to collect bank details and verify them. It allows you to generate numerous links in one go and share them with your customers, vendors, etc. The links then need to be opened and details need to be filled in to complete the transaction. This can also be automated using APIs.
Does this solve any problems?
The traditional process involves manual effort and time for collecting customer bank details and then verifying them. After which you need to share the details with the finance team and get the amounts processed in the upcoming payment cycle.
This is when Paytm Payout Links can be your easy route to payouts. The numerous features that simplify the payouts process are:
- Instant 24×7 Payouts
- Eliminates the need to collect account details
- Customers can easily choose the save payment options in Paytm or enter other details
- Simple 3-step fund transfer
- Secured payouts with OTP verification
- High success rates with smart routing
Following are some benefits that make Paytm Payout Links an effective solution:
- Powerful APIs: Smart APIs are robust and easy to integrate. They work with every work environment and are highly scalable.
- Easy reconciliation: With real-time updates and notifications, payouts can be tracked and managed simply.
- Secured payouts: The payout links have high security with OTP login to ensure the funds reach the right person.
- Customer’s ease: It is easy for customers to choose their preferred payment mode (account or Paytm wallet) to receive the funds.
- Faster payouts with saved instruments: Customers can simply select any of the Paytm saved instruments for a quicker payout.
- Customized payouts: Choose the payout options you wish to enable depending on your business needs.
- Account validation: Validate bank accounts, UPI IDs and wallets to ensure secure and successful payments.
You simply need to create a payout link using the dashboard or API and send it to your customer via email or SMS. Once received, your customer will click on the link select the desired payment mode to receive the payment. And, ta-da! Payment is instantly received.
Payout Links can be used for a variety of use cases from refunds, reimbursements, incentives, player winnings to vendor payments. Here are a few examples of how businesses are using Paytm Payout links:
- E-Commerce: Too many COD refunds? Simply send a payout link to the customer and reduce the refund time from days to minutes.
- Gaming: Want to ensure instant payouts to your customers? Simply send a payout link and let the customer get their funds instantly.
- Insurance companies: Tired of collecting the latest banking details on every insurance claim? Simply share a payout link and ensure a smooth claim process.
- Rental companies: Need to refund deposits? Simply share a payout link! Make the process seamless with payouts links as soon as the refund is approved.
- Incentive programs: Want to incentivise your customers, partners, sellers, vendors & employees? Simply share payout links.
So why make your customers, vendors, employees, etc. wait for days to receive their payout? Opt for Paytm Payout Links for instant and easy payouts.