• CERTIFICATE
    • Eminent VARs of India
    • Best OEM 2023
  • SYNDICATION
    • AMD
    • DELL TECHNOLOGIES
    • HITACHI
    • LOGMEIN
    • MICROSOFT
    • RIVERBED
    • STORAGECRAFT
    • THALES
  • EVENTS
  • GO DIGITAL
  • INFOGRAPHICS
  • PRESS
    • Press Release PR News Wire
    • Press Release Business Wire
    • GlobeNewsWire
  • SPECIAL
    • WHITE PAPER
    • TECHNOMANIA
    • SME
    • SMART CITY
    • SERVICES
    • EDITOR SPEAK
    • CSR INITIATIVES
    • CHANNEL GURU
    • CHANNEL CHIEF
    • CASE STUDY
  • TECHTREND
    • VAR PANCHAYAT
    • TELECOM
    • SOFTWARE
    • POWER
    • PERIPHERALS
    • NETWORKING
    • LTE
    • CHANNEL BUZZ
    • ASK AN EXPERT
  • SUBSCRIBE
  • Apps
  • Gaming
  • KDS
  • Security
  • Telecom
  • WFH
  • Subscriber to Newsletter
  • April Issue
  • Blogs
  • Vlogs
  • Faceoff AI
    

HOME
NEWS

Paytm Payment Gateway introduces same-day bank settlement for businesses


By VARINDIA - 2020-10-13
Paytm Payment Gateway introduces same-day bank settlement for businesses

Paytm has announced the launch of a same-day settlement facility for all kinds of fund transfers on its payment gateway. This will help business partners to settle money transfers anytime in their bank account on the same day of receiving payment, without waiting for the next day.



Paytm’s new same-day settlement feature will help businesses that depend upon immediate availability of funds to pay down-stream partners. This includes e-commerce companies, government institutions, and all businesses involving inventories, especially those involved in day to day trading who depend heavily on cash procurements.



The feature can be accessed from Paytm Merchant Dashboard or Paytm for Business app. The minimum amount that can be transferred is Rs 50, and the maximum amount is Rs 2 lakhs in a single transfer request. The merchants can define frequencies and the funds will transfer automatically. Frequencies can be once a day, twice a day or even three times a day.



Saloni Malhotra, Vice President - Paytm says, “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. The feature is especially useful in this post lockdown period when businesses are getting ready for the upcoming festive season. Every single day reduced from their working capital cycle is a big relief for them. We will continue to launch innovative features that make digital transactions more convenient & efficient for our merchant partners compared to cash transactions. We will soon introduce merchant-facing APIs for triggering on-demand settlements and checking outstanding payable amounts.”



According to RedSeer Consulting, a Bangalore based consulting and research firm, which recently launched the report titled “Indian Mobile Payments – 5x growth by 2025”, the Payment gateway aggregator market in India currently stands at INR 9.5 Tn & is expected to grow by 2.4x driven by large value transactions. It is expected to grow at a CAGR of 19% in the next 5 years to reach INR 22.6 Tn by FY 25. Paytm is the fastest growing payment gateway; in the last 5 years, it has grown from 40 Mn transactions per month in FY 15 to 400–450 Mn transactions per month in FY 20. Paytm leads especially in the new age business space and has built strong traction in enterprise business. Also, it has a strong presence in the retail business segment by acquiring merchants through direct routes and via other aggregators

See What’s Next in Tech With the Fast Forward Newsletter

SECURITY
View All
Zscaler announces AI innovations to its Data Protection Platform
Technology

Zscaler announces AI innovations to its Data Protection Platform

by VARINDIA 2024-05-20
SHIELD to enhance Swiggy’s fraud prevention and detection capabilities
Technology

SHIELD to enhance Swiggy’s fraud prevention and detection capabilities

by VARINDIA 2024-05-20
Axis Communications announces its first thermometric camera designed for Zone/Division 2
Technology

Axis Communications announces its first thermometric camera designed for Zone/Division 2

by VARINDIA 2024-05-20
SOFTWARE
View All
Hitachi Vantara and Veeam announce Global Strategic Alliance
Technology

Hitachi Vantara and Veeam announce Global Strategic Alliance

by VARINDIA 2024-05-16
Adobe launches Acrobat AI Assistant for the Enterprise
Technology

Adobe launches Acrobat AI Assistant for the Enterprise

by VARINDIA 2024-05-11
Oracle Database 23ai offers the power of AI to Enterprise Data and Applications
Technology

Oracle Database 23ai offers the power of AI to Enterprise Data and Applications

by VARINDIA 2024-05-10
START - UP
View All
Data Subject Access Request is an integrated module within ID-REDACT®
Technology

Data Subject Access Request is an integrated module within ID-REDACT®

by VARINDIA 2024-04-30
SiMa.ai Secures $70M Funds from Maverick Capital
Technology

SiMa.ai Secures $70M Funds from Maverick Capital

by VARINDIA 2024-04-05
Sarvam AI collaborates with Microsoft to bring its Indic voice LLM to Azure
Technology

Sarvam AI collaborates with Microsoft to bring its Indic voice LLM to Azure

by VARINDIA 2024-02-08

Tweets From @varindiamag

Nothing to see here - yet

When they Tweet, their Tweets will show up here.

CIO - SPEAK
Automation has the potential to greatly improve efficiency and production

Automation has the potential to greatly improve efficiency and production

by VARINDIA
Various approaches are followed to enhance efficiency, productivity, and cost-effectiveness

Various approaches are followed to enhance efficiency, productivity, and cost-effectiveness

by VARINDIA
Technology can be leveraged in several ways to boost efficiency, productivity and reduce cost

Technology can be leveraged in several ways to boost efficiency, productivity and reduce cost

by VARINDIA
Start-Up and Unicorn Ecosystem
GoDaddy harnesses AI power for new domain name recommendations

GoDaddy harnesses AI power for new domain name recommendations

by VARINDIA
UAE’s du Telecom selects STL as a strategic fibre partner

UAE’s du Telecom selects STL as a strategic fibre partner

by VARINDIA
JLR and Dassault Systèmes extend partnership for All Vehicle Programs worldwide

JLR and Dassault Systèmes extend partnership for All Vehicle Programs worldwide

by VARINDIA
Rapyder partners with AWS to accelerate Generative AI led innovation

Rapyder partners with AWS to accelerate Generative AI led innovation

by VARINDIA
ManageEngine integrates its SIEM solution with Constella Intelligence

ManageEngine integrates its SIEM solution with Constella Intelligence

by VARINDIA
Elastic replaces traditional SIEM game with AI-driven security analytics

Elastic replaces traditional SIEM game with AI-driven security analytics

by VARINDIA
Infosys and ServiceNow to transform customer experiences with generative AI-powered solutions

Infosys and ServiceNow to transform customer experiences with generative AI-powered solutions

by VARINDIA
Crayon Software Experts India inaugurates its ISV Incubation Center in Kolkata

Crayon Software Experts India inaugurates its ISV Incubation Center in Kolkata

by VARINDIA
Dassault Systèmes to accelerate EV charging infrastructure development in India

Dassault Systèmes to accelerate EV charging infrastructure development in India

by VARINDIA
Tech Mahindra and Atento to deliver GenAI powered business transformation services

Tech Mahindra and Atento to deliver GenAI powered business transformation services

by VARINDIA
×

Reproduction in whole or in part in any form or medium without express written permission of Kalinga Digital Media Pvt. Ltd. is prohibited.

  • Distributors & VADs
  • Industry Associations
  • Telco's in India
  • Indian Global Leaders
  • Edit Calendar
  • About Us
  • Advertise Us
  • Contact Us
  • Disclaimer
  • Privacy Statement
  • Sitemap

Copyright varindia.com @1999-2024 - All rights reserved.