We have launched ‘Instant Bank Settlements’ for our Merchant Partners
payments collected daily or can also do an instant settlement as and when they want, directly into their bank accounts!
That too, in just 3 easy steps!
This feature is available in the ‘Paytm for Business’ app where they can also track their payments & settlements in real-time, for free.
We believe empowering merchants to settle business transactions as and when they choose is a major step towards making digital payments as powerful as cash.
We are in constant discussions with our Merchant partners for feedback that improves our product. And we know how important liquidity is for small and medium merchants to manage their cash flows & meet their personal/ business needs. This feature comes on the back of our efforts to make it easier for them to gain access to cash as & when they need it.
We are excited to announce that within a short period of time, we have already rolled this out to over 1 million merchants and the response has been tremendous! We have also witnessed that with this facility now more & more merchant partners are proactively educating customers about Paytm QR and asking them to pay by Paytm Wallet, BHIM UPI or Bank Accounts simply by scanning it.
Building upon the success of this initiative, we are making this service available to all our merchant partners across the country to help grow their business by improving their daily cash-flows.
FAQs for Paytm Merchants:
What is the minimum and maximum amount of money that can be transferred to my bank account?
The minimum amount that can be transferred to the bank is Rs.50, whereas the maximum amount is Rs.2 Lacs per transaction.
- How many times in a day can I send money to my bank account?
You can send money to your bank as many times during the day. The amount that you can transfer will be the amount you would have collected since the last successful bank transfer.
- Is there a way for me to automate instant Bank transfers?
As of now, you cannot automate instant bank transfers. You’ll have to click on the ‘Transfer to Bank’ option in your Paytm for Business app, and input the amount you want to transfer. The system will automatically fetch the bank account details for your Merchant ID, and you can proceed to transfer the amount to your bank acct.
- Is this feature available on the Paytm app?
This feature is available in your Paytm for Business App. You can download it from the Google Play Store or Apple Store for free.
- I am a Paytm merchant partner and have more queries about this feature
Merchants with no usage limits can reach out to us via the Need Help section on their Paytm for Business App. Merchants with limits of Rs. 50K, Rs. 1 Lakh and Rs. 5 Lakhs can dial our Merchant
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