Business owners need to process payouts to their contacts to run their enterprises smoothly. This payout is basically made to a fund account associated with a contact. There are several aspects related to these, like users must specify the amount, purpose, and contact for all payouts.
With RazorpayX, you can execute fast, safe and transparent payouts, and it now offers an entirely new payouts experience for customers.
Read on to know more.
RazorpayX Payouts: revolutionizing business payments!
Now all your payouts are at the same place and just a click away!
RazorpayX Payouts revamps the entire customer journey and makes it much more simplified, intuitive and quicker. Customers can make payouts on RazorpayX after signing up, KYC verification, and account activation.
Those who want a trial run can process their payout via the RazorpayX Test mode. This mode is a simulation of RazorpayX in an environment that enables users to test their integration before shifting to the Live Mode.
With RazorpayX Payouts, be ready to instantly carry out payments for your business in a highly flexible manner. And that too 24×7! Plus, you will be able to unlock a bunch of new features with RazorpayX Payouts that will help you collaborate seamlessly with your finance teams.
So, what’s been troubling customers so far?
- A customer needs to choose an option to make an invoice payment, and there aren’t any bank account details available. The options available in this case are payouts, payout links, or vendor payments. Now, so many options can be cumbersome and confusing for the customer.
- A particular customer has paid the vendor, but TDS wasn’t deducted. In addition, the individual has downloaded the Vendors Payment report, but those details do not appear there.
- A customer wants to determine the amount paid to vendors for bookkeeping at the end of the month. And to download the report for checking the same, one has two options to select from – vendor payments or payouts. So, this again presents the case of multiple options without any unique flow.
How RazorpayX Payouts works like magic
The above issues can make it challenging for a customer to carry out business transactions successfully and conveniently. The new RazorpayX Payout experience is an improved and intuitive one, offering customers the following, hence solving all the above-mentioned major issues:
- It brings a guided payout experience where the platform itself will guide the customer for the kind of payment they want to make. This solves the case for the lack of unique flow that was otherwise present when the customer had multiple options to choose from.
- Through RazorpayX, customers can deduct TDS from a normal payout.
But, there’s more to this new payout experience.
With the new RazorpayX Payout experience, customers can:
- Carry out invoice payments,
- Undo payouts (coming soon)
- Use keyboard shortcuts to operate seamlessly
- Carry out payouts with or without bank details
- Add attachments to payouts to get a consolidated view of every document related to any payout in a single view for payout context
- Easily categorize and manage existing payouts and invoices via tags
Users can start to make payouts by following these steps:
- Add funds to a business account.
- Create a Fund account and a Contact.
- Make payout.
Switch to RazorpayX today and get rid of all payout-related hassles.