Paytm Payouts processed over Rs. 1500 Crore in salaries and other benefits for medium & large enterprises
~Over 5000 companies now prefer digital transfers and wallet benefits over cash~
India’s leading financial services company Paytm has today announced that more medium & large enterprises are moving towards digital money transfers. Paytm Payouts, the 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 Paytm Payouts 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, Paytm Payouts 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, Paytm Payouts has 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.
Paytm Payouts 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 Paytm ecosystem, the service helps the companies can manage their entire business with Current Accounts, Collections, Payouts and business expenses. Also, it offers the highest success ratio of transactions in the industry.