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| ‘Payout Links’ by Paytm |
Current Context: The ‘Payout Links’ platform is launched by Paytm.
It is basically launched for businesses with an aim to allow them to instantly process payouts i.e. payments to their customers, employees and vendors without collecting their bank details.
The Payout Links will help business belonging to the sectors like gaming, retail, manufacturing, exports and e-commerce.
With the help of this platform, incentives or refunds can be sent to the customer’s bank accounts or wallet accounts in a seamless manner.
For this purpose, the sender of payments has to create a payout link and must share it with customers, vendors and employees.
On opening the link by the receiver, a list of saved documents is displayed like Paytm wallet, Paytm UPI, connected bank accounts. From these displayed options, the receiver has to select the mode of reception of payments.
Thus ‘Payout Links’ platform allows the receiver to have control in selecting accounts for payments reception and thus can maintain privacy with respect to bank details.
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