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Paytm launches 24x7 RTGS money transfer for merchants

Customers can instantly make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets through Paytm Payouts' APIs and Paytm for Business Dashboard.

December 16, 2020 / 01:26 AM IST

Digital financial services platform Paytm on December 15 launched a 24x7 RTGS facility to support the companies that make high-value transactions. It also enables businesses to make bulk and instant money transfers to their employees, vendors & partners.

Customers can instantly make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets through Paytm Payouts' APIs and Paytm for Business Dashboard.

Paytm Payout is the only service provider that offers seamless round the clock money transfers through Wallet, UPI, IMPS, NEFT & RTGS.

The company has made this announcement after Reserve Bank of India (RBI) decision to make RTGS facility 24x7. This service saves time and resources and it is beneficial for SME & large enterprises who use it to adopt an automated payment mechanism.

"RBI's move supports commerce in the country and enhances ease of doing business recently allowed the transfer of funds through Real-Time Gross Settlement (RTGS) round-the-clock, 365 days a year," Paytm said in a statement.
Moneycontrol News
first published: Dec 15, 2020 01:38 pm
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