Paytm introduces payout links for businesses, enables money transfer without collecting bank details

Fintech major Paytm on Tuesday launched ‘Payout Links’ for businesses, enabling them to instantly process payouts to customers, employees and vendors without collecting their bank details.

Payout Links offer seamless payment integration for businesses to quickly send incentives and refunds to customers through a simple payout link, a statement said.

Removing the need to store thousands of bank details, the facility benefits partnered SMEs in diverse sectors such as gaming, e-commerce, retail, export and manufacturing, to transfer salaries, vendor payments, commissions and gratification instantly, it added.

The sender can create Paytm Payout Links and share with the receiver. The receiver needs to open the link and is then provided a list of saved accounts such as Paytm Wallet, Paytm UPI and connected bank accounts that can be chosen to receive money instantly.