Today Paytm launches the same-day settlement facility which will help businesses to transfer all kinds of funds on its payment gateway. The same-day settlement facility would help business partners to settle their money transfers on the same day in their bank account, without waiting for the next day.
The businesses such as e-commerce companies, government institutions and other businesses involving inventories which depend on immediate fund transfers to pay down-stream partners can easily transfer funds on the same day using this facility.
The same-day settlement feature can be accessed from the Paytm Merchant Dashboard or through Paytm Business app. The minimum amount that can be transferred using this facility is Rs 50 and the maximum amount of transfer is Rs 2 lakhs in a single transfer request. The merchants who want to transfer the funds can define the frequencies and the funds will transfer automatically. The frequencies of funds can be once a day, twice a day or even three times a day.
“The launch of same-day settlement facility is in line with our aim of strengthening the Digital India mission by making high-frequency & high-value business transactions completely cash-less. This facility will strengthen businesses that are dependent on daily cash requirements,” said Saloni Malhotra, Vice President – Paytm.
Paytm will further continue to launch innovative features making digital transactions more convenient & efficient for our merchant partners as compared to cash. She said, “We will soon introduce merchant-facing APIs for triggering on-demand settlements and checking outstanding payable amounts.”