This year we have taken our merchant experience to a next level of delight by doing various new launches and upgrade to existing features. One standout feature is the convenience to make ” Instant Settlement” to your bank account using Business with Paytm app. Previously the payments you collected with Paytm would arrive in the bank account on the next day, but with ” Instant Settlement” , you can take all your payments to bank account any time you want to!
We are excited to announce that within a short period of time, we have already rolled the beta version of this to more than 1 million merchants and the response has been tremendous! We have also witnessed that with this facility now more & more merchant partners are proactively educating customers about Paytm QR and asking them to pay by Paytm Wallet, BHIM UPI or Bank Accounts simply by scanning it.
Let’s find more about this feature:
- Flexible timings of settlement in the bank
- Opt to get money auto transferred to your bank once, twice or thrice a day
- Get money instantly transferred to your bank account with a single tap
To know more about Instant Settlement feature, view the Training Guide
All our 10 million+ Merchant partners will soon be able to choose the preferred time to settle their daily collected payments or can also do an instant settlement as and when they want, directly into their bank accounts!
FAQs for Paytm Merchants:
- What is the minimum and maximum amount of money that can be transferred to my bank account?
The minimum amount that can be transferred to the bank is Rs.50, whereas the maximum amount is Rs.2 Lakhs per transaction
- How many times in a day can I send money to my bank account?
You can send money to your bank as many times during the day. The amount that you can transfer will be the amount you would have collected since the last successful bank transfer
- Is there a way for me to automate instant Bank transfers?
As of now, you can not automate instant bank transfers. You’ll have to click on the ‘Transfer to Bank’ option in your Business with Paytm app, and input the amount you want to transfer. The system will automatically fetch the bank account details for your Merchant ID, and you can proceed to transfer the amount to your bank account
- Is this feature available on the Paytm app?
This feature is available to selected beta users on your Business with Paytm App. You can download it from the Google Play Store or Apple Store for free
- I am a Paytm merchant partner and have more queries about this feature
This feature is currently in its beta form and will soon be rolled out to a large set of merchants. Till then continue enjoying our superior Business with Paytm app and reach out to us via Need help section on your app for any queries
