Ensures an easy guide to help businesses understand what settlements are, where to check their status on the fonePaisa Payment Gateway dashboard and the reconciliation of settlements.
This process lets a merchant receive money from the end user for the services rendered. There are a number of entities involved in the settlement process and each play their own individual roles.
The complete process takes a time of T+2* business days for domestic transactions, T being the date of capture of payment.
*Settlement cycle is subject to bank approval and can vary based on your business vertical, risk factor etc.
Find all your settlements at one place.
Click on the ‘Settlements’ tab on the left panel to view & manage all your settlements in one place
Created: The settlement has been created and is being sent to our nodal banking partners for further processing.
Initiated: The settlement amount is being processed by our nodal banking partners and shall be credited to your settlement account shortly.
Processed: The settlement amount has been successfully credited into your account.
Failed: The settlement to your account has failed. This could be due to incorrect bank account details (bank account number or IFSC code) entered by you. You will receive mail from Fonepaisa in such an event.
Fonepaisa dashboard displays the amount and date for your next settlement.
– Home page, Transaction page & Settlement page
100% transparency on every transaction made and which are still pending. Click on any transaction to see its settlement status.
Navigate to the “My Account” section on the dashboard to view your default settlement schedules for ‘Domestic’ & ‘International’ payments.
fonePaisa Dashboard provides different types of reports to help you with reconciliations. You can download the settlement report in daily or monthly format.
This is the amount debited from the cardholder’s account for the transaction.
A unique identification code for each transaction entity.
This is the unique identification code for each settlement.
Represents the date of a past settlement or an upcoming settlement.
Each settlement comes with its own Unique Transaction Reference (UTR) number provided by our banking partners. This number is visible when Settlement Reports are downloaded from the Reports section. This unique reference number is available across banks, which can be used to track a particular settlement in your bank account.
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