Functional overview

Payouts Product allows businesses to transfer funds to anyone be it their customers, vendors or their own employees. Using this product, they can automate their fund transfers and simplify reconciiliation.

These Payouts can be done using various payment modes such as IMPS, NEFT, RTGS and UPI. Using IMPS, the Payouts can be done on weekends or banking holidays also.

The transfers can be initiated by the merchant using APIs or by uploading CSV file on the merchant dashboard. In this document we will talk in details about our API offerings.

Product Highlights

Merchant Specific Virtual Account

Each newly onboarded merchant on Payout is assigned a virtual account which needs to be pre-funded. This account will be the funding source for the Payouts.

IMPS, NEFT, RTGS and UPI Support

Payouts Product allows businesses to transfer money to anyone using these payment modes - IMPS, NEFT, RTGS and UPI.

Retry Support

Retry mechanism ensures that transactions which get rejected or reversed are retried atleast three times before they are marked failed thus providing better success rates.

Advanced business logic also changes the payment mode in case a particular payment mode is not supported.

Merchant Dashboard

The merchant dashboard can be used to initiate transfers by uploading CSV files, tracking transfers, deposits and account balance. The transaction reports can also be downloaded from the merchant dashboard.