Vendor Settlements
Vendor Instant Settlements
You can set the vendor schedule option while creating a vendor. The settlementCycleId value defines the vendor schedule option.
The instant schedule options are as follows:
Instant Settlement 24 *7
Vendor instant settlement within banking hours
| Settlement ID | Description |
|---|---|
| 8 | Instant settlement every hour 24*7. |
| 9 | Instant settlement every 3 hours 24*7. |
| 14 | Instant settlement every 15 minutes 24*7. |
Prerequisites to enable 24*7 cycle:
- Merchant should be enabled on merchant IS - risk and finance check will be performed at merchant level.
- IS limit should be configured for the merchant.
- Markup rate for non-banking hour settlement should be set for the merchant.
- Instant settlement limit is defined at merchant level, Instant settlement limit = Merchant IS + Vendor IS
- When the IS daily limit is breached, the settlement for the merchants (both merchant IS and vendor IS) will be limited till new limit is refreshed the following day.
| Schedule ID | Description |
|---|---|
| 3 | All transactions from 4:30 PM T-1 to 10:30 AM T+0 settled at 11 AM T+0, and 10:30 AM T+0 to 4:30 PM T+0 at 5:00 PM T+0. |
| 6 | Instant settlement every hour between 7:00 AM and 5:00 PM on working days. |
| 7 | Instant settlement every 3 hours between 8:00 AM and 5:00 PM on working days. |
T+x*: Settlement cycle is subject to bank approval and can vary based on transaction type, business category/model, risk parameters, and other factors.