Posted by Mumbai: Paytm said its Enterprise Bill Payment System (EBPS) is set to cross Rs3,000 crore in transactions by FY’2021 end. EBPS enables businesses to manage and pay all their utility bills generated across a large number of business locations on a single unified platform.
Paytm Payouts allows businesses to make bulk payments to bank accounts, UPI addresses, wallets, gift vouchers and other employee benefits like food allowance instantly.
It provides 24×7 payment options to transfer any amount and benefits companies and their finance department to manage their cash flows and payables. Including rent payments, vendor invoices, customer cash backs and refunds, channel partner incentives, utility bill payments or employee reimbursements.
EBPS is the only integrated utility bill management service available for businesses in India. It enables companies to monitor all the bills of their shops, offices, and warehouses. It has an easy reconciliation system that automatically fetches new bills as they are generated and provides custom reports based on business locations. This can be easily integrated with the ERP and financial reporting systems of businesses.
EBPS enables businesses to cut down on their administrative costs, increase operational efficiency and save on the bill amounts by avoiding penalties and unlocking early payment discounts. EBPS empowers companies to save on their bill by unlocking remunerations from electricity providers in the form of reward schemes for early and timely payment.
The service automatically calculates the amount users must pay as well as the amount of money they save. It enables swift payments by allowing users to easily filter bills depending on the business location, due dates, bill providers etc. Companies can avail the service by submitting their details on the Paytm for Business Enterprise Bill Payments website.
“EBPS offers companies the chance to cut costs and focus on their business growth. We expect this service to process Rs.3,000 crore worth of utility bills paid by companies in the current financial year,” said Saloni Malhorta, VP – Paytm.
API-driven Paytm Payouts can be integrated with any platform. It helps to eliminate the need to invest time and resources to build their platform. Businesses can also deposit money directly from any bank account to process any payment.
The feature-rich and simple service is enabling several companies to pay salaries, food allowances, incentives, rewards to housekeeping and other contractual staff.