Companies can now settle money transfers without waiting for the next day
Paytm has launched a same-day settlement facility for all kinds of fund transfers. This way, its business partners can settle money transfers in their bank account on the same day of receiving payment.
Besides, the new feature will help businesses depending upon the immediate availability of funds to pay down-stream partners. This includes e-commerce companies, government institutions, and all businesses involving inventories.
This feature can be accessed from Paytm Merchant Dashboard or Paytm for Business app. The minimum amount that can be transferred is Rs 50 ($0.60), and the maximum amount is Rs 2 lakhs ($7) in a single transfer request.
The merchants can define frequencies and the funds will transfer automatically. It can be once a day, twice a day, or even three times a day.
We’ve reported that Paytm announced the launch of its subscription service for businesses across India named as ‘Paytm Subscriptions’.