Paytm has launched Payout Links for businesses, enabling them to instantly process payouts to customers, employees and vendors, without collecting their bank details.
As businesses struggle with the ever-growing numbers of manual financial processes, Payout Links offers seamless payment integration for businesses to quickly send incentives and refunds to customers through the easy and inexpensive method of a simple payout link.
Removing the need to store bank details, the facility benefits partner SMEs in diverse sectors such as gaming, e-commerce, retail, export and manufacturing, to transfer salaries, vendor payments, and commissions instantly. Paytm Payout Links can be easily created and shared with customers, vendors and employees in one go, said a release issued by the company.
The receiver needs to simply open the link and is automatically provided a list of saved accounts such as Paytm Wallet, Paytm UPI and connected bank accounts, which can be chosen to receive money instantly.