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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