Paytm introduces bulk payments through its payment gateway

This service enables large and small businesses to send money instantly to over as many accounts of various banks at one go. With this, the company aims to digitise payments for both B2B and B2C players who make bulk payments on a regular basis to vendors, employees, customers, and partners.

The gateway provides an easy-to-use dashboard, an API solution, which can be integrated with merchants existing systems. Businesses can choose to transfer into various destinations including bank account, UPI, and wallet. Furthermore, they can send any amount into as many bank accounts.

The company says the gateway is already enabled with modules such as beneficiary management, name validation service, and bulk disbursement among others. Moreover, the payment gateway allows merchants to receive payments through different channels including email, SMS, and chat.