Chennai: India’s homegrown digital financial services platform Paytm recently announced that its Payout service which enables businesses to make bulk and instant money transfers to their employees, vendors and partners has launched a 24*7 RTGS facility to support companies make high-value transactions seamlessly.
The company said that the launch comes after the Reserve Bank of India (RBI) made an announcement to make RTGS 24*7. Paytm Payouts’ APIs and Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly.
The service is especially beneficial for SMEs & large enterprises who use it to adopt an automated payment mechanism that saves their time and resources, a press release said.