Payment routed to the merchant’s bank account from the customer’s account is called a Settlement. Here are the important terms to know.
The settlement process takes T+1 to T+3 working days*, where ‘T’ is the date on which the customer made the transaction.
*This time may vary because the settlement cycle is subject to bank approval and risk factors.
Verifies and reconciles the variation in status between sales report and the actual funds received
Merchant gets the detailed settlement records due to the robust APIs integrated with the dashboard
The reports can help tally every detail for e.g. amount, PayKun fees, tax, and the settlement amount