Paytm launches same-day settlement facility for fund transfers

Wednesday 14 October 2020 10:32 CET | News

India-based fintech Paytm has rolled out a same-day settlement facility for fund transfers on its payment gateway.

Designed to help businesses that depend on the immediate availability of funds, the feature allows transfers ranging from less than one US dollar up to USD 2,700, allowing merchants to pay down-stream partners.

Merchants can access the feature via the Paytm Merchant Dashboard or the Paytm for Business app and set the transfer frequency from once to three times a day.

The new feature has been launched in preparation for the upcoming festive season, mitigating the typical settlement time of up to two day. The company also plans to introduce a merchant-facing API for triggering on-demand settlements and checking outstanding payable amounts.

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Keywords: Paytm, India, payments , transfers, merchants, Asia, APAC, same-day settlement facility
Categories: Payments & Commerce
Countries: India
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