Published
Nov 11, 2020
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Paytm launches Payout Links instant payment processing

Published
Nov 11, 2020

Online payments and e-commerce business Paytm has launched Paytm Payout Links for businesses, which allows shops to process customer payments without the need to collect bank details. 

Paytm's new payment service eliminates the need to share and store bank details - Paytm- Facebook

 
The new launch also enables businesses to send payment incentives and refunds to customers through a link, eliminating the need for collecting and storing bank details, Paytm said in a statement. The new service is intended to be used by e-commerce and retail businesses, as well as in sectors including exports, salary transfers, gaming, and manufacturing, among others, and will benefit small and medium enterprises, according to Paytm.
 
Paytm Payment Links was launched through Paytm Payout. Users can decide which account to receive funds in and maintain data privacy.

“Our objective is to empower businesses with a simple, seamless and automated process that helps in streamlining payments and help them with solutions that make business banking simple, flexible and efficient,” said a Paytm spokesperson in a statement, the Press Trust of India reported. “This service helps businesses reduce cash transactions, maintain better records, avoid errors and delays.”
 
Paytm Payout is designed to enable businesses to adopt an automated payment mechanism. The facility processes on average over Rs 1,660 crore ($249.5 million) in payments each month, according to the business.

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