Terms and Conditions for "Instant Settlements with Razorpay - 0% Fee Offer"

The above mentioned promotional offer will waive off our standard 0.3% additional fee on Instant Settlements for the period of the first 50 days from the start of offer validation. 

Terms and Conditions :

  1. This offer is only applicable for registered Razorpay accounts that have been activated before 30th June, 2021, and not valid for unregistered businesses.
  2. The Instant Settlements feature will be activated within one working day after KYC process is complete.
  3. This offer will only be valid for the first 50 days after activation.
  4. The daily limit for Instant Settlement at 0% is capped at Rs 10,000 or 40% of your daily settlement balance whichever is lower.
  5. You will have the option to upgrade yourself to unlimited Instant Settlements and Scheduled Same-day Settlements at nominal pricing after 50 days, given you satisfy some basic checks of transaction quality.
  6. All signups will be governed by the overall Terms & Conditions of Razorpay. Razorpay reserves the right to change these terms and conditions at any time without any prior notice.

FAQs

1. What is the difference between On-demand Instant and Same-day Scheduled Settlements?

Razorpay gives you the flexibility to pick and choose how fast you want your Early Settlements, based on your business needs. Instant Settlements are charged at 0.3% while you can set up Same-day Settlements at 0.12% additional fee. Please note that Same-day Settlements are applicable only after you complete your first 50 days of activity on Razorpay.

 On-Demand Instant Settlement

Choose when you want your customer payments to transferred into your bank account. Only the required amount from the entire settlement balance will be settled within 10 seconds.

Scheduled Same-day Settlements 

For businesses that value consistent cash flow with no delays between sales and cash in hand, Razorpay will automatically settle all your payments at specific hours of the day. 

2.What is the settlement schedule for Scheduled Same-day Settlements?

  1. Transactions completed between 9:00AM to 4:59PM (same day) shall be settled to your bank account at 5:00PM on the same bank working day.
  2. Transactions completed between 5:00PM to 8:59AM (next day) shall be settled to your bank account at 9:00AM on the same bank working day.

3. Are there any limitations to Instant Settlements or Same-day Settlements?

Instant Settlements is a feature available from Day 1 of activation for most businesses with a few exceptions and limitations. However, you will be able to settle unlimited amounts through both Instant Settlements and Same-day Settlements if you satisfy the requirements of quality transactions for the first 50 days of your Razorpay account usage. 

4. If I want to use On-Demand Instant Settlement in the future, will I still be charged and when do my normal transactions get settled?

On-Demand Instant Settlement pricing applies ONLY to the amount you choose to settle instantly. The rest of the amount will have no additional charge and will get settled according to your standard settlement cycle.


5. Where are Instant Settlements and Same-day Settlements charges deducted from?

As per the launch offer, Instant Settlements are free for the first 50 days for merchants who activate the feature before 30th June, 2021, 11:59PM

Once the offer validity expires, the charges will be deducted from the settlement amount itself, unless you have free credits. You will get an option to see the pricing breakdown before you confirm Instant Settlements.

For Same-day Settlements, since all your payments will be settled on the same day, the additional pricing will be charged on your payment gateway fee. You can confirm the pricing before you enable it from the dashboard.


6. Is there an opt-out option for Same-day Settlements i.e. can I switch back to my standard settlement schedule?

Yes, you can switch back to your old settlement schedule by raising a support ticket here.

7. As a merchant, where and how do I find if a payment was settled early?

Same-day settlements are the same as normal settlements except that it’s settled at T+0. So you can find the settlements in the settlement report and combined report on the dashboard. 

On-Demand Instant Settlements are non-recurring payouts from your settlement balance, so such settlements will appear as payouts in settlement reports and combined reports.

8. Contact Support

For any queries, please feel free to contact support by clicking on this link and raising a ticket. We will be in touch with you as soon as possible.

 

#UnlockGrowth in 2021 with Instant Settlements

Supercharge your online payments with Instant Settlements. Now, you can transfer your customer payments to your bank account within 10 seconds at 0%* for limited amount of time.