Wire is an API based solution that can be included in your product to do payouts related to :
Salaries or Payroll
Vendor or third party payments
Send cashback offers to customers
Uploading a bulk transfer is very easy and that can happen by uploading an excel or even manually adding a beneficiary before you transfer. We automate and authenticate bulk transfers via API's and make it much simpler as an alternative to uploading files on a bank portal.
Unlike banks, a single error can block all your payouts, Easebuzz ensures that valid transfers will go through even if there are error records in your file. Reconciliation with analytics is available on your dashboard and you can do transfer instantly without any risk.
Yes it is mandatory that your business is registered and only current account holders are allowed to use the application.
You need to sign-up online on easebuzz by clicking here - https://auth.easebuzz.in/easebuzz/signup Just sign-up with your PAN card, Cheque book 1st page or bank statement and a few other documents. Once done, your relationship manager will call you and help you with the API set-up. This takes hardly a couple of hours.
Transfers can happen immediately depending on your business requirement. Transfers in excess of Rs 2 lacs may take longer as they might be restricted by the banks.
Yes, you can send money to any active savings or current bank account in India. However, NRE and NRO bank accounts are not supported.