Finance management lies at the heart of every business – whether offline or online. Collecting payments from targeted customers is just one side of business finances. On the other side of the financial equation lies making payouts to vendors, employees, and customers. For many businesses, managing payouts manually becomes a significant hurdle that affects their growth curve.
As an alternative, they can leverage technology-driven payout solutions to manage their business finances and keep them on track.
Let’s start with the payout fundamentals before we move to the modern way to handle them.
What is a payout in payments?
Payout refers to the payments made by a business of all scale and size to various stakeholders, including customers, employees, suppliers, and utility service providers. Traditionally, most businesses either make payouts in cash or use IMPS, RTGS, NEFT, and cheques as a payment mode.
What are the different types of payouts for a business?
The following table explains different types of payouts related to a business:
|Type of payouts||Definition|
|Vendor payouts||Payments made by you (business owner) to a vendor or supplier for goods/services received|
|Employee payouts||Salaries and other direct perks paid to your employees|
|Partner payouts||Commissions or share contributions given to retailers, distributors, and similar other partners to cross-sell your products or services|
|Customer payouts||Rewards, cashback, and refunds paid to your customers|
|Utility bill payouts||Monthly bills paid for office rent, electricity, telephones, etc.|
Common problems you might have faced with payouts
Almost every business faces interruptions in making payments to their vendors or customers. A significant delay in payouts often leads to customer drop-off and interrupted service.
You might have experienced one or more of the following problems linked with payouts:
- 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 before making payouts
- 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 look at the problems businesses face and develop the right payment solutions.
Wondering what we have for smooth, streamlined payouts for businesses?
Introducing Paytm Payouts
Ideally, you might be looking for a payout solution that can help solve all your payouts problems quickly and eliminate hassles. That’s what Paytm Payouts can do for your business.
Paytm Payouts is known amongst our clients as a robust corporate payouts solution. It 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.
The exclusive feature list and a comprehensive dashboard make it the most preferred payout solution in the Indian corporate world.
11 features of Paytm Payouts to simplify payment outflows for your business
- 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 to handle payouts 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?
You can start using Paytm Payouts by following the steps given below:
- 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!
What else can Paytm Payouts do for you?
- Payout 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 to make payouts – to Paytm Wallet, Gift Vouchers, Food Allowance Vouchers, UPI VPA, or even digital gold
Simplify business payouts by joining hands with Paytm
Like we said above, payouts are as important as ensuring payment inflows. With advanced payment technology available for your business, stop making payouts as in the past. Make quick and hassle-free payouts and track money movement with Paytm Payouts like your peers in the field of e-commerce, FMCG, healthcare, automobiles, cab services, and gaming.