Finance management lies at the heart of every business. Payments received through online transactions by customers is just one side of business finances. On the other side is a checklist of payouts made to vendors, employees, customers, and more. For most businesses, managing payouts manually is a significant hurdle in their growth curve and demands a reliable solution.
In today’s tech-first world, merchants can easily leverage technology-driven solutions to manage their business finances. This article explores everything about payouts and their significance for a growing business. Let’s start with the basics.
What is a payout in payments?
Payout refers to the payments made by businesses to various stakeholders, including customers, employees, suppliers, and utility service providers. Most businesses make payouts either in cash or use IMPS, RTGS, NEFT, and cheques as their payment mode.
What are the different types of payouts for a business?
|Type of payouts||Definition|
|Vendor||Payments made by you (business owner) to a vendor or supplier for goods/services received|
|Employee||Salaries and other direct perks paid to your employees|
|Partners||Commissions or share contributions given to retailers, distributors, and similar other partners to cross-sell your products or services|
|Customer||Rewards, cashback, and refunds paid to your customers|
|Utility bills||Monthly bills paid for office rent, electricity, telephones, etc.|
Problems faced by merchants during payouts
Almost every business faces interruptions while making payments to their vendors or customers. A significant delay in payouts often leads to customer drop-off and interrupted service. Here are some of the issues linked with payout systems:
- Inability to process payouts via NEFT or RTGS during non-banking hours
- Complications related to making bulk payments and uploading contacts for it
- Inability to verify a bank account’s validity
- Restrictions on bulk payouts made via IMPS or UPI
- Lack of error tracking measures in case of payout failures
- Complex reconciliation related to refunds or transaction failures
At Paytm for Business, we have understood the reasons and complexities related to the above problems to develop the right payment solutions.
Introducing Paytm Payouts
Paytm Payouts is a robust solution that can help you manage and automate business payout processes – be it for utility bill payments, vendor payments, bank account validation, bulk payouts, or payment reconciliation.
An exclusive feature list and a comprehensive dashboard make it one of the most preferred payout solutions for businesses of all sizes. Paytm Payouts simplify outflows for your business with the following features:
- Easy onboarding and online account activation
- Easy to make instant payouts, refunds, and disbursals via your preferred payment mode – IMPS, RTGS, NEFT, or UPI (available for use on weekends and bank holidays), and Paytm Wallet (including Food Wallet, Gift Wallet, Fuel Wallet, and Allowance Wallet)
- Easy to recharge mobile phones in bulk at one go
- No need to hold upon or wait after adding contact/beneficiary – instant user addition possible
- Quick and easy to upload any number of contacts in one go (which means no confusion about different file formats)
- Ease of making payouts via a simplified dashboard or APIs
- 24×7 instant refund facility to vendors and customers without the need to do anything manually
- Easy to reconcile failed payments and refunds
- Provision to add multiple team members and create custom approval flow
- Automated money movements and tracking to support your business decisions
- In-house developed payment technology to ensure a high success rate
How to start using Paytm Payouts?
- Signup for Paytm Payouts and activate your account
- Add funds into your account based on payouts requirement
- Add contact details of the recipients
- Set the amount payable
- Make instant payouts
It’s that simple!
There’s more that Paytm Payouts can do for your business
- Links to send payments instantly without the need to fetch or validate the recipients’ bank details
- Smart transfer to queue the payments in case your account balance is low and avoid payment failures
- Scheduled payouts for vendors/employees/customers and utility bills to avoid missing out on due dates
- Balance threshold alerts to get notified if the account balance goes below a certain threshold
- Maximum disbursal options can be availed to make payouts to Paytm Wallet, gift vouchers, food vouchers, UPI VPA, or even digital gold
Simplify your business with Paytm Payout Solutions
Payout is the backbone of smooth business operations. With advanced payment technology available for your business, payouts can be easily simplified and automated. Whichever sector you are in, from e-commerce to healthcare and automobiles to gaming, build a quick and hassle-free payout management process with Paytm Payouts.