Blog | Paytm For Business App
Log in/Sign up
Terms & Conditions
Privacy Policy
Paytm logo
Copyright 2020 © Paytm
  • Blog Home
  • Corporate Solutions
  • Industry Insights
  • Merchant Experience
  • Newsletter

Payout Modes Explained

  • October 19, 2020
  • 3 minute read
If you’re a business owner in India who has recently started implementing digital payouts in your business, you should understand the types of transfers. When it comes to payout options in India different acronyms are important to know- NEFT, IMPS, RTGS, UPI & Paytm Wallet.    Types of Payout Instruments:   NEFT (National Electronic Funds Transfer) With NEFT, you can transfer any amount to the recipient’s account. NEFT transactions don’t have a maximum limit for funds that can be transferred in a single day. NEFT processes the funds in batches of 30 mins and the transaction can take time depending on the batch it gets processed in. While NEFT is now 24/7, however, some banks have put limits on the amount that can be transferred. However, Paytm Payouts allows you to transfer any amount of funds When should you use NEFT?
  • Transfers are not instant
  • No limit on transactions
  • 24*7 transfers
IMPS ((Immediate Payment Service) IMPS is another real-time payment service, but the distinguishing factor is that IMPS is available 24⁄7 and you can avail the service even on bank holidays. Using IMPS, you can transfer comparatively lower amounts, up to Rs. 2 lakhs, instantly. IMPS is great to use for immediate transfers that you can do at any time. It is instant and works seamlessly throughout the year. However, this is typically used for smaller transactions as there is a limit of Rs. 2 Lakh per transaction. When should you use IMPS?
  • Smaller transactions (<2 Lakhs)
  • Instant transfers
  • 24*7 transfers
RTGS (Real Time Gross Settlement) RTGS transfers happen in real-time and the settlement is not done in batches but on a one by one basis. RTGS provides instant transfers, however, this can only be done during banking hours. RTGS supports larger transactions and has a minimum transfer value of Rs. 2 Lakh. There is no limit on the size of transactions in RTGS. When should you use RTGS?
  • No limit on transactions
  • Instant transfers
UPI (Unified Payments Interface) UPI is a payment system launched by National Payments Corporation of India. Using UPI, one can pay directly transfer to UPI handles without the need of lengthy account number or IFSC details. UPI allows for instant transfers to the end-user and is for smaller transactions with limits of 1 Lakh per day for a single beneficiary. When should you use UPI?
  • UPI handles make it easier for customers to share
  • Instant transfers
  • 24*7 transfers
Paytm Wallet Paytm wallet allows transfers simply based on mobile number. No account details needed, simply transfer. Paytm wallet allows instant transfers and can be used anywhere. This can be used for smaller transfers with an overall limit of 1 Lakh. When should you use Paytm Wallet?
  • Only phone numbers needed
  • Instant transfers
  • 24*7 transfers
Paytm Payouts, the one-stop solution Paytm Payouts allows you to do all the above transactions through the dashboard or APIs. Make your payouts powerful & seamless. Ensure all your business payments from vendor payments, employee salaries, incentives, channel partners, etc. Still Confused on which mode to choose, Paytm Payouts now has smart routing which chooses the transfer mode automatically to ensure timely payouts. Start using Paytm Payouts today. Click here
Total
1
Shares
Share 1
Tweet 0
You May Also Like
View Post

Increase Payout Success Rates with Smart transfer

  • October 28, 2020
View Post

Paytm Payouts : A Comprehensive Payout Solution for Your Business Payments

  • October 1, 2020
View Post

Paytm Payments Bank’s 0- Balance Current Account

  • December 4, 2019
View Post

Upgraded: Fund addition & Disbursement process

  • December 4, 2019
View Post

Better Tracking: Customized Passbook

  • December 4, 2019
View Post

Paytm Cash: Disburse money to user’s Paytm’s Bank account

  • December 4, 2019
View Post

Transaction Report- Paytm Cash Wallet

  • May 31, 2019
View Post

Adding Funds & generating Proforma Invoice

  • May 31, 2019
Paytm for Business

© 2020 Paytm

Payment Solutions

  • All-In-One QR
  • All-in-One POS Devices
  • Payment Gateway
  • All-In-One-SDK
  • UPI Payment
  • International Merchants
  • Freelancers
  • Intelligent Router
  • Create & Send Invoices
  • Payment Links
  • Subscriptions
  • Paytm Payouts
  • Payout Links
  • Paytm iCollect

Business Tools

  • Business App
  • Business Dashboard
  • Mini Apps
  • Paytm Cloud (PAI)

Financial Services

  • Current Account
  • Salary Account
  • Paytm First Credit Card

Policy

  • EPR Compliance

Resources

  • Pricing
  • Support Center
  • Contact Us
  • Blog
  • Developers
Apple Store Android Store

Input your search keywords and press Enter.