Paytm Payment Gateway has launched bulk payment facilities

Paytm Payment Gateway which is owned by One97 Communications has launched bulk payments facilities for its merchant partners, using which they can send payments to multiple bank accounts at one go thereby catering to payment requirements for vendors, employees, suppliers, partners and others.

This is part of the Noida headquartered company’s plans to expand its scope of operations for partner businesses.

The solution will be enabled with modules such as beneficiary management, validation services and bulk disbursement among others, said the company in a note.

The company will provide a payment gateway dashboard from where merchants can transfer funds across various destinations like bank accounts, UPI and wallets.

“There is a large number of regular payments made by businesses (both B2B and B2C) such as salaries, reimbursements, incentives, instant refunds, prize money for winning games, vendor payments, meal benefits and others,” said Puneet jain, vice president, Paytm Payment Gateway.

“This feature enables businesses to automate and centralize these payments moving from an operationally complex and fragmented method to a digital way of managing businesses.”