{"id":3166,"date":"2023-02-15T14:12:00","date_gmt":"2023-02-15T08:42:00","guid":{"rendered":"https:\/\/cashfree.com\/blog\/?p=3166"},"modified":"2023-12-06T17:22:20","modified_gmt":"2023-12-06T11:52:20","slug":"bulk-payment","status":"publish","type":"post","link":"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/","title":{"rendered":"Bulk Payment System Guide: All You Need to Know"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a8f39c78a6b1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #364250;color:#364250\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #364250;color:#364250\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a8f39c78a6b1\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/#What_is_Bulk_Payment_Bulk_Payment_Meaning\" >What is Bulk Payment? : Bulk Payment Meaning<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/#Why_is_a_Bulk_Payment_Solution_Needed\" >Why is a Bulk Payment Solution Needed?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/#Different_Types_of_Bulk_Payments\" >Different Types of Bulk Payments<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/#How_To_Do_Bulk_Payments_Bulk_Payment_In_India\" >How To Do Bulk Payments: Bulk Payment In India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/#Benefits_of_Bulk_Payment_System\" >Benefits of Bulk Payment System<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/#Reasons_For_Bulk_Payment_Failures_and_Solutions\" >Reasons For Bulk Payment Failures and Solutions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/#FAQs_On_Bulk_Payment\" >FAQs On Bulk Payment&nbsp;<\/a><\/li><\/ul><\/nav><\/div>\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Want to know all about bulk payment? Refer to this guide about bulk payment systems, their features &amp; benefits to make error-free online payments in bulk for your business. Read on!<\/em><\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-is-bulk-payment-bulk-payment-meaning\"><span class=\"ez-toc-section\" id=\"What_is_Bulk_Payment_Bulk_Payment_Meaning\"><\/span>What is Bulk Payment? : Bulk Payment Meaning<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">A bulk payment is a system that allows a company\/individual to make debit payments to multiple beneficiaries. For instance, payouts. Here, the bulk list is the list of beneficiaries that the creditor intends to pay from a single account.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The creditor\u2019s bank statement reflects this bulk transfer as a single payment. <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(<em>Psss, Want to test your knowledge before moving ahead with the blog? \ud83d\ude42<\/em><\/p>\n\n\n\n<div data-tf-widget=\"lVwy8ead\" data-tf-iframe-props=\"title=Are You a Payouts Expert?\" data-tf-medium=\"snippet\" style=\"width:100%;height:400px;\"><\/div><script src=\"\/\/embed.typeform.com\/next\/embed.js\"><\/script>\n\n\n\n<p class=\"wp-block-paragraph\">In India, bulk transfers can be done directly through corporate bank accounts. However, these solutions (like HDFC enet\/ ICICI bank) are plagued with issues like working hour limitations. Moreover, they are tedious to use and have difficult reconciliation procedures.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, fintech players like <a href=\"https:\/\/www.cashfree.com\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">Cashfree Payments<\/mark><\/strong><\/a> have come up with more user-friendly solutions for bulk payment processing. They are faster, highly scalable and offer higher security.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/blogrevamp.cashfree.com\/payouts\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><img data-recalc-dims=\"1\" fetchpriority=\"high\" decoding=\"async\" width=\"770\" height=\"172\" data-attachment-id=\"11012\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/payouts-by-cf-2\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/payouts-by-CF.png?fit=1200%2C268&amp;ssl=1\" data-orig-size=\"1200,268\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"payouts-by-CF\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/payouts-by-CF.png?fit=770%2C172&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/payouts-by-CF.png?resize=770%2C172&#038;ssl=1\" alt=\"\" class=\"wp-image-11012\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/payouts-by-CF.png?resize=1024%2C229&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/payouts-by-CF.png?resize=300%2C67&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/payouts-by-CF.png?resize=768%2C172&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/payouts-by-CF.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In this blog, we will try to cover the different types of bulk payments and why they are needed. We will also try to understand the <strong>bulk payment facility in India <\/strong>and how new technologies are revolutionizing the same for businesses. Moreover, we will be diving deep into the reasons for bulk payment failures in India and how they can be resolved.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Needless to say, we have a lot of ground to cover.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So let\u2019s start with our first topic of discussion.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-why-is-a-bulk-payment-solution-needed\"><span class=\"ez-toc-section\" id=\"Why_is_a_Bulk_Payment_Solution_Needed\"><\/span>Why is a Bulk Payment Solution Needed?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses need to make bulk payments on a daily, weekly and monthly basis. Let\u2019s take a look at some examples of bulk payment processing by businesses.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"770\" height=\"403\" data-attachment-id=\"3251\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/guidebps-whybp\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-whyBP.png?fit=1200%2C628&amp;ssl=1\" data-orig-size=\"1200,628\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"GuideBPS-whyBP\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-whyBP.png?fit=770%2C403&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2021\/04\/GuideBPS-whyBP-1024x536.png?resize=770%2C403&#038;ssl=1\" alt=\"Bulk Payment\" class=\"wp-image-3251\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-whyBP.png?resize=1024%2C536&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-whyBP.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-whyBP.png?resize=768%2C402&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-whyBP.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-payouts\">Payouts<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses need to pay their employees on time. For employee satisfaction, this payment must be made timely and without any glitches. You may need to ensure that your employees can withdraw earnings to their bank accounts instantaneously.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Here\u2019s a use case to help illustrate this point further.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Grab uses <a href=\"https:\/\/www.cashfree.com\/payouts\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">Cashfree Payouts<\/mark><\/strong><\/a> to pay their delivery partners. The partners can request a payout on their daily earnings according to their needs. This leads to partner satisfaction and high retention rates.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-dividends\">Dividends<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">You may also need to pay your vendors and ensure that the marketplace settlements run smoothly.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Evidently, as businesses grow, so does the complexity of handling it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You may need to automate vendor management. Moreover, you may need to split the payments in complex ways.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These payments become all the more complex for eCommerce shop owners if COD orders are mixed with online payment orders. Here, businesses may need to use API for settling payments with vendors.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-refunds\">Refunds<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Refunds are a part and parcel of an eCommerce system. You may be required to process refunds automatically and efficiently to ensure customer satisfaction.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Of course, this is easier said than done. You may need partial or instant refund services &#8211; a feature that is rather new in the payments space. Moreover, you might want to initiate the refunds from a dashboard where they can track their progress.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The biggest issue with COD orders is the unavailability of payment details. In this context, you can consider refund orders through <a href=\"https:\/\/cashfree.com\/cashgram\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">payout links<\/mark><\/strong><\/a>.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-contractors-and-freelancers\">Contractors and Freelancers<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Employees are regular beneficiaries of a company\u2019s payout structure. However, things might get a little tricky when it comes to contractors and freelancers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Freelancers may require instant payments. Here, businesses like yours cannot afford to be tied down to banks\u2019 working hours. Moreover, you may be required to disburse payouts in different payment modes like bank transfer, UPI or wallet transfer.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-contest\">Contest<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses and stores running contests need a bulk payment system to disburse the prize money. For instance, an online gaming company can disburse winnings to participants. Here, the payment disbursal needs to be seamless and fast.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A failure of this can result in distrust of users and thus damage the company\u2019s reputation.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Now that we have covered the various use cases of a bulk payment system, let\u2019s move on to the types of bulk payment.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-different-types-of-bulk-payments\"><span class=\"ez-toc-section\" id=\"Different_Types_of_Bulk_Payments\"><\/span>Different Types of Bulk Payments<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" decoding=\"async\" width=\"770\" height=\"403\" data-attachment-id=\"3253\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/guidebps-types\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Types.png?fit=1200%2C628&amp;ssl=1\" data-orig-size=\"1200,628\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"GuideBPS-Types\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Types.png?fit=770%2C403&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2021\/04\/GuideBPS-Types-1024x536.png?resize=770%2C403&#038;ssl=1\" alt=\"Bulk Payment\" class=\"wp-image-3253\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Types.png?resize=1024%2C536&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Types.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Types.png?resize=768%2C402&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Types.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">The different types of bulk payments are listed as follows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-standard-domestic-bulk-payment-nbsp\">Standard Domestic Bulk Payment&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The Standard Domestic Bulk Payment allows you to make payments to multiple beneficiaries from a single account. Within this, there are certain classifications:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Future Dated Bulk Payments (FBULK)&nbsp;<\/li>\n\n\n\n<li>Next-Day Bulk Payments (NBULK)<\/li>\n\n\n\n<li>Immediate Bulk Payments (IBULK)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bulk-inter-account-transfer-iat-nbsp\">Bulk Inter Account Transfer (IAT)&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Bulk Inter Account Transfer (IAT) allows you to credit funds to funds to multiple accounts from a single debit account. More often than not, Bulk IAT is used to make international payment transfers. This is because the Bulk IAT process is more reliable and secure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Bulk transfers are a complicated procedure. More importantly, it may be done through different technologies depending on the business\u2019s geographic location and target demographics.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The next section will inform you about the process of bulk payment transfers and how they are carried out in India.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-do-bulk-payments-bulk-payment-in-india\"><span class=\"ez-toc-section\" id=\"How_To_Do_Bulk_Payments_Bulk_Payment_In_India\"><\/span>How To Do Bulk Payments: Bulk Payment In India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">As a business in India, you can make bulk payments in various ways. Some of them are listed below.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"403\" data-attachment-id=\"3254\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/guidebps-howbp\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-howBP.png?fit=1200%2C628&amp;ssl=1\" data-orig-size=\"1200,628\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"GuideBPS-howBP\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-howBP.png?fit=770%2C403&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2021\/04\/GuideBPS-howBP-1024x536.png?resize=770%2C403&#038;ssl=1\" alt=\"Bulk Payment\" class=\"wp-image-3254\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-howBP.png?resize=1024%2C536&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-howBP.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-howBP.png?resize=768%2C402&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-howBP.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bank-transfers-nbsp\">Bank Transfers&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">For a bulk transfer, you need a platform that can handle a large number of transactions, simultaneously. In today\u2019s time, API is considered to be the most efficient technology for tasks. Most banks offer corporate bulk transfers. However, these bank portals come with huge limitations. Let us have a look at some of these shortcomings.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-challenges-with-corporate-bulk-bank-transfers\">Challenges with Corporate Bulk Bank Transfers<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Corporate Internet Banking portals <strong>work according to the banks\u2019 working hours.<\/strong> This is a serious limitation as most businesses require access to 24&#215;7 payment\/payout services<\/li>\n\n\n\n<li><strong>Limited payment modes <\/strong>are also a problem. For instance, most of them do not support IMPS or UPI on bulk transfers<\/li>\n\n\n\n<li><strong>Incompatibility with the <\/strong>latest versions of modern browsers like Chrome. In fact, some corporate banking portals are incompatible with MacOS<\/li>\n\n\n\n<li>Tedious and <strong>complicated file upload formats. <\/strong>Creditors have to arrange the bulk list in a certain format and then upload it. More often than not, this is not possible without assistance. For instance, Enet HDFC net banking exclusively supports only text files (ASCII). So, if your bulk list is in Excel or CSV format, you will need to convert it to the specified format. Thereafter, you have to upload it on Enet HDFC for processing<\/li>\n\n\n\n<li>If you want to add multiple beneficiaries to your account, you will need to wait for a certain amount of time. This is known as the \u201c<strong>cooling period\u201d for adding beneficiaries<\/strong>&nbsp;<\/li>\n\n\n\n<li>Most corporate portals do not provide the option to <strong>verify bank accounts prior to transferring<\/strong><\/li>\n\n\n\n<li>Most importantly, they have a relatively <strong>higher chance of errors in case of failed transfers<\/strong>. Moreover, the reconciliation process is extremely tedious<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-payouts-alternative-to-bank-bulk-transfers\">Payouts: Alternative To Bank Bulk Transfers<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Payout is the top alternative to corporate banking solutions- especially when it comes to bulk transfers. A lot of fintech players are offering simplified, more efficient solutions tailored to every industry<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/cashfree.com\/payouts\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">Cashfree Payouts<\/mark><\/strong><\/a> offers you the widest range of payment options (RTGS, NEFT, bank fund transfers, <a href=\"https:\/\/www.cashfree.com\/upi-payment-gateway\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">UPI<\/mark><\/strong><\/a>, Wallet etc.) Moreover, it allows you to make bulk transfers 24&#215;7 without being tied down to a bank\u2019s working hours.&nbsp;<\/p>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\"><strong><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/hwdXfYImeNee3m879JGcc6ZkXPZyYSs5pT3sYCILdG44R6zsCMysoVTQwleq_iDHn2_zCDR0cRuiMeGjY7w6-osMDP48oabsjuaZc-T9-D-aGlSRh5CeAizt4v8xgk3Fzu8ZRxXJ\" width=\"600\" height=\"896\"><\/strong><\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-additional-features-of-payouts-nbsp\">Additional Features of Payouts:&nbsp;<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Clean workflows with dashboards<\/strong>: This is user-friendly and allows easy reconciliation.<\/li>\n\n\n\n<li><strong>Completely automated<\/strong>:&nbsp; You can use APIs or Excel for uploading bulk lists and payment files.<\/li>\n\n\n\n<li><strong>Bank Account Verification:<\/strong> Verify if your beneficiary\u2019s bank account is valid or not. This reduced the chances of transaction failure.<\/li>\n\n\n\n<li><strong>No Cooling period: <\/strong>Add your beneficiary instantly and start transacting right away.<\/li>\n\n\n\n<li><strong>Seamless System Configurations<\/strong>: Compatible with all modern browsers and operating systems.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bulk-payments-through-upi-nbsp\">Bulk Payments Through UPI&nbsp;<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Nowadays, businesses are also making UPI transfers in bulk to other businesses or individuals.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A simpler way to do payouts is by sending money directly to any number of virtual UPI IDs in real time. Virtual UPI IDs make it easier to reconcile payments as one particular account is mapped to every beneficiary.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.cashfree.com\/blog\/vpa-in-upi\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">Related Read: What VPA means in UPI, Benefits of VPA?<\/mark><\/strong><\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">With Cashfree Payouts, you can make 1000+ transactions at a time, much higher than the UPI transaction limit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-credit-card-and-debit-card-payments-mainly-for-refunds\">Credit card and debit card payments (mainly for refunds)<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Refunds in themselves are a huge part of the bulk payment transactions for businesses. Generally, businesses use cards to collect money from a customer instead of sending it. However, some merchants use debit\/credit card payments for refund purposes.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Unfortunately, this comes with its own set of problems.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s say a customer purchases a product\/service through their debit card. The money is transferred from their bank account to yours. Hence, an immediate refund is impossible in this scenario.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, in case the customer asks for a refund, you need to issue a refund to the same card used by the customer. Then, the bank will verify the bank account for the availability of funds and issue the same in 3-7 business days.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, this process comes with a limitation &#8211; you cannot send an amount greater than the amount previously paid by the customer.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Evidently, this can lead to poor customer experience and decrease customer loyalty.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A payout link can be the answer to this issue.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-5-payout-links-for-refunds\">5) Payout Links For Refunds<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">A <a href=\"https:\/\/cashfree.com\/cashgram\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">payout link<\/mark><\/strong><\/a> is a web link that you can use to send or receive money on the preferred payment mode. This can be the customer\u2019s bank account, debit card, wallet or UPI app.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-how-does-payout-link-work\">How Does Payout Link Work?<\/h4>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Set up an account with a <a href=\"https:\/\/cashfree.com\/blog\/payment-service-provider\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">payment service provider<\/mark><\/strong><\/a> like Cashfree Payments<\/li>\n\n\n\n<li>Create a payout link and send it to the beneficiary\u2019s email and phone<\/li>\n\n\n\n<li>The recipient will enter their preferred payment mode (UPI VPA\/Paytm no.\/bank account\/Debit Card)<\/li>\n\n\n\n<li>The recipient receives the payment<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">To keep up with the needs of our customers, Cashfree Payments offers a payout links solution called Cashgram.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/www.cashfree.com\/cashgram\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"68\" data-attachment-id=\"11016\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/cta-1-1-3\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/cta-1-1.png?fit=1080%2C96&amp;ssl=1\" data-orig-size=\"1080,96\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"cta-1-1\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/cta-1-1.png?fit=770%2C68&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/cta-1-1.png?resize=770%2C68&#038;ssl=1\" alt=\"\" class=\"wp-image-11016\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/cta-1-1.png?resize=1024%2C91&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/cta-1-1.png?resize=300%2C27&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/cta-1-1.png?resize=768%2C68&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2022\/07\/cta-1-1.png?w=1080&amp;ssl=1 1080w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Cashfree Payments\u2019 Cashgram is used by businesses to make bulk payments like:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Paying marketing affiliates<\/li>\n\n\n\n<li>Process reimbursement<\/li>\n\n\n\n<li>Process refunds<\/li>\n\n\n\n<li>Distributing prize money<\/li>\n\n\n\n<li>Sending money to users<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-benefits-of-bulk-payment-system\"><span class=\"ez-toc-section\" id=\"Benefits_of_Bulk_Payment_System\"><\/span>Benefits of Bulk Payment System<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"403\" data-attachment-id=\"3257\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/guidebps-benefitsbp\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-BenefitsBP.png?fit=1200%2C628&amp;ssl=1\" data-orig-size=\"1200,628\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"GuideBPS-BenefitsBP\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-BenefitsBP.png?fit=770%2C403&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2021\/04\/GuideBPS-BenefitsBP-1024x536.png?resize=770%2C403&#038;ssl=1\" alt=\"Bulk Payment\" class=\"wp-image-3257\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-BenefitsBP.png?resize=1024%2C536&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-BenefitsBP.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-BenefitsBP.png?resize=768%2C402&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-BenefitsBP.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-faster-speed\">Faster Speed<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Bulk payment systems are a faster, more efficient way of sending money to multiple recipients. These payments are timely, automated and error-free.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-increased-security\">Increased Security<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Payments is an extremely regulated industry. And for good reason.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">After all, cybercrime&nbsp;increased by 600%&nbsp;during the COVID-19 pandemic. Hence, bulk payments require high-security protocols like the Secure Sockets Layer (SSL). This technology encrypts the data as soon as it is submitted so that it cannot be read during processing.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Banks and payment gateways in India comply with the Payment Card Industry Data Security Standard (PCI-DSS).&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-high-scalability\">High Scalability<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As the organization increases in size, it will need to process larger transactions more frequently. Evidently, manual uploading of bulk transfer files cannot be sustained in the long run. In fact, as the organization scales, automatic reconciliation becomes necessary.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-cost-effective\">Cost-Effective<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">The finance team cannot be engaged in calculating individual employee wages or <strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><a href=\"https:\/\/cashfree.com\/blog\/vendor-payment\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\">vendor commissions<\/a>.\u00a0<\/mark><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A bulk payment system can save the time and resources of the organization by automating these tasks. This frees up the team to focus on tasks that actually require their attention.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, automation decreases the chance of human error. This, in turn, is cost-effective as well.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These advantages were applicable to bulk payments in general. But what about the advantages of using cutting-edge bulk payment transfer systems. What edge do they give to the businesses?&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s have a look.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-international-transfers\">International Transfers<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Smarter bulk payment systems like <a href=\"https:\/\/cashfree.com\/payouts\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\">Cashfree Payouts<\/a> support mass transfers from India to other countries. However, the purpose of the transfer must be declared prior to setting up the account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bank-account-verification-lower-payment-failures\">Bank Account Verification: Lower Payment Failures<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Bank account verification before the actual bulk transfer allows you to validate the beneficiary\u2019s bank account. This helps lower payment failures.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Cashfree uses API to validate the bank account as well as the account holder\u2019s name. API can help in bulk verification. It can be integrated into the organization\u2019s ERP software or internal system and the verification requests can be pushed directly using API.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-increased-payment-options\">Increased Payment Options<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">One of the biggest advantages of smart bulk payment systems is that it offers various payment options.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, Cashfree offers bulk payments to any bank, UPI-BHIM ID, Paytm wallet, Amazon Pay or debit card.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-business-and-merchant-friendly\">Business and Merchant Friendly<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Finally, modern bulk payment systems are merchant-friendly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The dashboard can be used to keep track of all individual transfers from the bulk payment batch. This makes reconciliation easier.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">These systems have no cooling period and are compatible with all modern browsers. They require no special configurations.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Till now we have covered a lot of ground on the topic of bulk payments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, every technology comes with its issues. Now, these issues might change depending on your organization, the bulk payment system you use as well as your industry.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">So, what are the issues that you can face while initiating bulk payments?<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-reasons-for-bulk-payment-failures-and-solutions\"><span class=\"ez-toc-section\" id=\"Reasons_For_Bulk_Payment_Failures_and_Solutions\"><\/span>Reasons For Bulk Payment Failures and Solutions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"403\" data-attachment-id=\"3258\" data-permalink=\"https:\/\/blogrevamp.cashfree.com\/bulk-payment\/guidebps-reasons\/\" data-orig-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Reasons.png?fit=1200%2C628&amp;ssl=1\" data-orig-size=\"1200,628\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"GuideBPS-Reasons\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Reasons.png?fit=770%2C403&amp;ssl=1\" src=\"https:\/\/i0.wp.com\/cashfree.com\/blog\/wp-content\/uploads\/2021\/04\/GuideBPS-Reasons-1024x536.png?resize=770%2C403&#038;ssl=1\" alt=\"Bulk Payment\" class=\"wp-image-3258\" srcset=\"https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Reasons.png?resize=1024%2C536&amp;ssl=1 1024w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Reasons.png?resize=300%2C157&amp;ssl=1 300w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Reasons.png?resize=768%2C402&amp;ssl=1 768w, https:\/\/i0.wp.com\/blogrevamp.cashfree.com\/wp-content\/uploads\/2021\/04\/GuideBPS-Reasons.png?w=1200&amp;ssl=1 1200w\" sizes=\"(max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-wrong-bank-account-details\">Wrong Bank Account Details<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">6% of payments fail because of invalid recipient data of date payment details. 3<em>5% of data goes out of date each year<\/em><sup><a href=\"https:\/\/www.finextra.com\/video\/video.aspx?videoid=486\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">1<\/a><\/sup> so it is unsurprising that businesses often receive incorrect account details for transactions.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">However, payment failures can have a negative impact on a bank\u2019s reputation and transaction history.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-solution\">Solution<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The solution here is to verify bank account validity before initiating the bulk payment transfer. Cashfree\u2019s Bank Account verification shows the account holder\u2019s name as written in the bank records. This decreases the risk of identity theft. Moreover, incomplete or incorrect data is reduced.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, the Cashfree bank account verification feature is integrated with the company ERP\/internal system. This decreases exposure to any third party.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-downtime\">Downtime<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\"><a href=\"https:\/\/www.cashfree.com\/blog\/payment-processing\/\">Online payment processing<\/a><\/mark><\/strong> requires a lot of players. These are the issuer, acquirer, payment gateway and payment processor. When it comes to UPI payment processing, NPCI and payment switches are involved. Now, any of these systems can have scheduled or unscheduled downtimes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In such a situation, the server cannot be reached for processing the bulk payment. This can cause payment failure or delay.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-solution-0\">Solution<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">A lot of companies choose to have multiple payment gateways on their sites. Merchants can choose to use another payment gateway if one is facing downtime.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Another solution boils down to the bulk payment facility you are using. Merchants can choose to route specific transactions to different payment gateways. This routing can be decided on the basis of success rate, payment gateway health score or business needs.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Moreover, smart payment gateways provide merchants with a dashboard to help keep track of every individual transaction. For instance, the Cashfree dashboard gives information about the transaction\u2019s status- whether it is complete, pending or failed.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-inefficient-routing\">Inefficient Routing<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Legacy payment systems like Corporate banking solutions rely on inefficient routing. Essentially, routing is the process of connecting to the bank server in the most optimized way possible. Inefficient routing can lead to a high number of failed transactions.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-solution-1\">Solution<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">To eliminate this problem, merchants can choose a payment gateway or bulk payment software that does dynamic routing. Dynamic routing ensures that the PG can connect to the server based on the current conditions of the communication circuits.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, Cashfree uses dynamic routing to reduce transaction latency. This helps in providing a great customer experience. Moreover, Cashfree has direct integrations with all major card networks and all major banks in India. Resultantly, the success rate of a merchant\u2019s transaction is higher.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-4-excel-file-uploads\">4. Excel File Uploads<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">As we mentioned above, a lot of legacy payment systems require manual uploading of payment fields. Moreover, some of them only accept specific formats.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In such a scenario, human error can result in payment failure.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-solution-2\">Solution<\/h4>\n\n\n\n<p class=\"wp-block-paragraph\">The solution to this issue is to use a payment gateway or bulk payment facility that offers a simplified user interface.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, Cashfree Payouts had a 4-column Excel sheet Dashboard. The merchant can also choose to use API for 100% automation and easy reconciliation.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-on-bulk-payment-nbsp\"><span class=\"ez-toc-section\" id=\"FAQs_On_Bulk_Payment\"><\/span>FAQs On Bulk Payment&nbsp;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-is-the-difference-between-a-bulk-payment-and-a-bulk-list\">What is the difference between a bulk payment and a bulk list?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Bulk payment is the transfer of funds from one bank account to multiple beneficiaries.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">On the other hand, the bulk list is the list of recipients or beneficiaries receiving the payment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-how-can-i-do-recurring-bulk-payments\">How can I do recurring bulk payments?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Businesses can choose to do recurring bulk payments through the <a href=\"https:\/\/cashfree.com\/blog\/e-mandate\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">Nach mandate<\/mark><\/strong><\/a> or E-mandate. Furthermore, recurring payments can also be enabled on a credit card, debit card and through UPI Autopay.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Read more information on Cashfree Subscriptions <a href=\"https:\/\/cashfree.com\/recurring-payment\/?utm_source=blog&amp;utm_medium=organic&amp;utm_campaign=bulk_payment_blog\" target=\"_blank\" rel=\"noreferrer noopener\"><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-purple-color\">recurring payment<\/mark><\/strong><\/a> solution by Cashfree.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-what-is-the-future-of-bulk-payment\">What is the Future of Bulk Payment?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Bulk payment is an inextricable part of running a business. As a business becomes large-scale, its requirement for a bulk payment system becomes more and more complex.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For instance, ride-sharing companies have to collect and disburse large amounts of payments on a daily basis. With technologies like Cashfree Payouts, instant withdrawal of bulk payments is possible.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It will be interesting to see how bulk payment systems will evolve according to new-age business needs.&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Related Post<\/h4>\n\n\n\n<ul><li><a href='https:\/\/www.cashfree.com\/blog\/open-banking-api\/'>Open Banking API<\/a><\/li><li><a href='https:\/\/www.cashfree.com\/blog\/payment-success-page\/'>Payment Success Page<\/a><\/li><li><a href='https:\/\/www.cashfree.com\/blog\/test-cases-for-payment-gateway\/'>Payment Gateway Test Case<\/a><\/li><li><a href='https:\/\/www.cashfree.com\/blog\/banking-as-a-service-baas\/'>Banking As a Service<\/a><\/li><li><a href='https:\/\/www.cashfree.com\/blog\/types-of-e-wallets\/'>E-wallet Types<\/a><\/li><\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Want to know about bulk payments? Refer to this guide &#038; know their features &#038; benefits to make error-free online bulk payments for businesses.<\/p>\n","protected":false},"author":17,"featured_media":11545,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_wpcom_ai_launchpad_first_post":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1383],"tags":[1458,1522,1381,1404],"class_list":["post-3166","post","type-post","status-publish","format-standard","has-post-thumbnail","category-payments","tag-bulk-payment","tag-cashfree-payments","tag-payment-solution","tag-payouts"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Bulk Payment System Guide: All You Need to Know<\/title>\n<meta name=\"description\" content=\"Want to know about bulk payments? 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