From Tax Saving to Rewards & Recognition & Corporate Gifting, Paytm Payouts Wallets has it all Covered

From Tax Saving to Rewards & Recognition & Corporate Gifting, Paytm Payouts Wallets has it all Covered

As your business grows, you need to focus more on meeting targets and delivering customer-oriented products/services. To do that, you need to enable smooth operation that saves your’s and your team’s time and effort.

One area that usually requires a lot of manual effort and time is fund disbursals. It could be disbursing timely payments to suppliers, sending gifts to corporate stakeholders, issuing food, fuel & mobile reimbursements to employees, acknowledging your employees’ efforts by sending them gift vouchers or anything else. Handling disbursals can be a challenge for all organizations.

That’s where Paytm Payouts Wallet solutions can help you. Whether you are a small or a large organization, our wallet solutions are capable of managing all your disbursal needs.

With real-time updates and notifications, Paytm Payouts’ wallet solutions give you an edge over traditional and manual operations by offering you a robust, easy-to-use platform developed by us.

In this article, we will talk about the possible ways in which Paytm Payout Wallets can digitize outbound cashflows for your business in a time-efficient manner with minimal effort.

Use case #1: Tax-saving for employees

The one thing most employees ask from their employers is what would be their take-home salary at the time of joining. This emphasizes the need for a tax-efficient salary structure with flexible components and perks in their CTC. It is especially true for middle and top management employees earning high salaries. This is where our solution that is explained below comes to your rescue.

The solution

Paytm Food Wallet

Paytm Food Wallet is one of the popular tax-saving components organizations can offer their employees. It is easy to use for employees as they get a certain tax-free amount credited by their employers into the food wallet of their Paytm app.

The employees can use the wallet to pay at more than 10 lakh+ restaurants, bakeries, ice cream parlors, cafes, etc., that accept payments via Paytm. They can also use this money for buying groceries online (from Big Basket, Jio Mart, Blinkit, etc.), or offline (from Spencers, Amul, etc.), and even order food deliveries (from Zomato and Swiggy).

Also Read: Help Your Employees Save Tax with the Paytm Food Wallet

Paytm Gift Wallet

The Income Tax Act in India allows organizations to offer their employees a maximum of Rs. 5,000 tax-free non-transferable gift allowance annually. You can use Paytm Gift Wallet to offer this amount as a flexible component to your employees for tax-saving.

The Paytm Gift Wallet is acceptable at 2 crores+ merchants and if employees want they can use it for purposes such as insurance premium payments, utility bill payments, etc. Hence, the usability is not restricted to buying gifts only.

Also, when employees spend using the Paytm Gift Wallet, they get to enjoy the various offers that the Paytm App provides such as cashback offers, discounts and more.

Use case #2: Employee Rewards & Recognition and Corporate Gifting

Acknowledging your employees’ hard work and rewarding them is a great way to keep them motivated. Most organizations reward their outstanding performers every month. Coming up with exciting gifts every month can be a challenge.

Also, organizations have set annual budgets for spending on welcoming new employees, celebrating work anniversaries, giving year-end gifts, etc. However, the entire process of finding meaningful gift options, sourcing them and shipping them to each employee is cumbersome with a possibility of logistical glitches. It is especially true for the current time, wherein remote hiring and work-from-home practices are being observed.

Additionally, if any physical product is damaged or lost in transit or is of inferior quality, it leads to a bad employee experience.

The solution

Paytm Gift Wallet

Paytm Gift Wallet can completely digitize employee gifting for your organization. All you need to do is tie up with us and start sending money directly to your employees’ gift wallets digitally and instantly. Moreover, you do not have to go through the logistical hassles of delivering physical gifts to each employee and settling the vendor bills for ordered gifts.

Paytm Gift Wallet will give your employees the freedom to choose a gift they need and save you from the hassle of selecting and sending meaningful gifts.

Also Read: Paytm Gift Wallet – The Ultimate Corporate Gift Idea Your Organization Needs

Use case #3: Office campus/cafeteria solution for contactless payments

Even before the pandemic hit us, people were adopting digital payments. The trend is picking up as more people embrace contactless payments. It applies to employees using the cafeteria services inside office/hospital/education campuses.

Handing out physical meal vouchers/cards no longer serves the purpose. Also, using an e-voucher/e-coupons is a hassle as it requires several steps for redeeming them.

The solution

Paytm Food Cafeteria Wallet

Many organizations give meal coupons or vouchers to their employees of a certain amount every month. Some also reward their employees for being punctual with some extra meal coupons.

Instead of giving vouchers or meal coupons to your employees, directly sending them money in their Paytm Food Cafeteria Wallet is a quicker and hassle-free solution. You only need to direct funds towards the employee wallets once every month or week (preferred frequency), and that’s it.

You can also set an expiry date post which any unutilized funds will be pulled back and sent back to your corporate account.

Your employees can pay for food purchases in the office cafeteria using their Paytm Food Wallet. This solution is not just digitally convenient for the employee but also COVID-compliant as it assists in following the social distancing norms. The employees can safely stand at a distance, scan the QR code and make payments in a contactless manner.

As a significant chunk of the workforce is working from home currently, organizations are also encouraging their leaders to host virtual dinners/lunches for their teams where the employees are given a certain amount to order food they like.

Here again, the Paytm Food Wallet can simplify the process by completely digitizing it.

Use case #4: Channel-partner gifting

Corporate gifting is not just for employees. Channel partners, distributors and retailers are crucial stakeholders of the business and require you to maintain good professional relationships with them.

Like employees, you need to send gifts to your other stakeholders on crucial occasions. It brings with itself the hassles of choosing a gift, sourcing them in bulk and shipping them to each stakeholder with some logistical glitches guaranteed to happen.

Moreover, it is not easy to please every channel partner as there are limited gift options that one can think of. So the chances of you sending repetitive gifts to your partners is very high.

The solution

Paytm Gift Wallet

Sending a well-timed gift to make your existing stakeholders feel valued is now easy and quick with the Paytm Gift Wallet.

Just send them gifts in the gift wallet and let them choose a gift they need for themselves rather than you sending them something they don’t need.

Use case #5: Online brand promotion for customer gratification

With the pandemic, the modern ways of promotions are taking precedence over the traditional methods as businesses are embracing virtual operations. Hence, online brand promotions have become an absolute necessity.

The solution

Paytm Gift Wallet

More and more brands now organize brand promotion events online to attract customers. You can do this too by organizing online contests and events for your business where you can send money directly into the winners’ Paytm Gift Wallet.

It will save you from spending time selecting and sending gifts. Instead, you can spend more time creating more impactful promotion events that get you more leads.

This wallet solution is also effective for acquiring new clients. How? You can motivate prospective clients and boost new business acquisitions by leveraging this solution. Our gift wallet solution can be used in various ways in the customer lifecycle, such as offering gifts against first orders, app downloads, bringing new referrals, as a retention tool, etc.

Moreover, the entire process can be completely automated with our robust and easy-to-integrate API option.

Use case #6: Reimbursement of office expenses

Every organization has field executives or employees who need to travel frequently to meet clients.

Many organizations also reimburse their employees for mobile bills for their official usage. Such expenses made by the employees on behalf of the company need to be paid back based on actual spendings or some companies choose to park an advance amount with the employees.

In either case, the corporates need to monitor the spendings or reimburse in the shortest turnaround time.

The solutions

Paytm Fuel Wallet

Transport or logistics companies and even taxi and cab service providers need to reimburse their employees almost daily for fuel expenses incurred by them delivering consignments or driving clients to their destinations. It is the best wallet solution for such organizations.

The process is 100% digital, quick, safe and transparent.

From tax saving to rewards & recognition and corporate gifting, Paytm Payouts’s 360-degree wallet solutions have it all covered.

So, wait no more. Get Paytm Payouts and digitize all outbound payments for your business today.

Switch to Paytm Payouts today!

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