Now businesses can use Paytm Payouts to instantly transfer any amount to anyone all days of the week

Supports businesses with a real-time payment system to manage their cash flows more efficiently

Enables companies with high-value transactions to make bulk payments even on weekends

Amritsar, NFA Post: Digital financial services platform Paytm has announced that its Payout service has launched 24×7 Real-Time Gross Settlement (RTGS) facility to support companies make high-value transactions effortlessly.

Paytm Payouts enables businesses to make bulk and instant money transfers to their employees, vendors and partners.

This launch comes as a result of the announcement made by the Reserve Bank of India to make RTGS 24×7, the company said.

RTGS has a minimum transfer limit of 200,000 rupees, with no upper limit, and this helps businesses or individuals to make high-value transactions.

“Paytm Payout’s RTGS facility enables businesses to reduce their working capital requirement as they can now transfer salaries to employees even on the last day of the month, even if it is a holiday or a Sunday,” the company said.

It added that the introduction of this facility round-the-clock will not enable businesses in servicing their clients better, as companies can now fulfil payment requests even post-market hours.

“We believe this will help in further boosting the adoption of online payments in the country, making more businesses digitally empowered,” Paytm spokesperson said.

Apart from thousands of small businesses, a growing list of major companies like Pidilite Industries, Schneider Electric and Havmor Icecreams also use the service, the company said.

Paytm claims to be the only platform offering the most payment methods that work round the clock including Paytm Wallet, UPI, IMPS, NEFT, and RTGS.