We are happy to share that more medium & large enterprises are moving towards digital money transfers. Paytm Payout, our digital money transfer service has become a must-have tool for businesses that make regular payments to their employees, vendors, and business partners.
During this ongoing lockdown, over 5000 companies have used our service to pay salaries & food allowances to employees, incentives & rewards to housekeeping, labourers & other contractual staff; and even for expenses like utility bills of their offices.
Launched this year, our Payout service offers APIs or Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly. 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. Companies like Pidilite Industries, Schneider Electric and Havmor Icecreams Pvt. Ltd. use the service to transfer money to their employees, vendors and business partners such as masons, painters, carpenters, electricians, sellers, etc.
Our Payouts service is driven by a powerful API that can be integrated with any platform, thereby eliminating the need for corporates to invest time & resources to build their own platform. Conjoined with the benefits of our ecosystem, the service helps the companies can manage their entire business with Current Accounts, Collections, Payouts, and business expenses. Also, it offers the highest transaction success rate in the industry.