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Digital financial services platform Paytm on Tuesday announced that its Payout service which enables businesses to make bulk and instant money transfers to their employees, vendors & partners has launched a 24*7 RTGS facility to support companies make high-value transactions seamlessly.

The company said that the launch comes after the Reserve Bank of India (RBI) made an announcement to make RTGS 24*7. Paytm Payouts' APIs and Paytm for Business Dashboard to make bulk payments to Bank Accounts, UPI addresses, and Paytm Wallets instantly.

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The company says that the service is especially beneficial for SMEs & large enterprises who use it to adopt an automated payment mechanism that saves their time and resources.

Paytm lauded the RBI's decision, it said, "RBI's move further supports commerce in the country and enhance ease of doing business recently allowed the transfer of funds through Real-Time Gross Settlement (RTGS) round-the-clock, 365 days a year.

Paytm claims that the Paytm Payout is the only service provider that offers seamless round the clock money transfers via Wallet, UPI, IMPS, NEFT & RTGS.

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