Paytm Payouts processed Rs 1,500 cr in salaries, other benefits for firms

Fintech major Paytm on Sunday said Paytm Payouts has processed over Rs 1,500 crore in salaries and other benefits for medium and large enterprises.

Paytm Payouts is a digital money transfer service for businesses to help them make payments to their employees, vendors and business partners.

"During this ongoing lockdown, over 5,000 companies have used Paytm Payouts to pay salaries and food allowances to employees, incentives and rewards to housekeeping, labourers and other contractual staff, and even for expenses like utility bills of their offices," Paytm said in a statement.

Launched this year, Paytm Payouts offers APIs (needed to make apps) or Paytm