{"id":3034,"date":"2018-04-13T20:00:38","date_gmt":"2018-04-13T14:30:38","guid":{"rendered":"https:\/\/blog.payumoney.com\/?p=3034"},"modified":"2020-06-28T15:37:23","modified_gmt":"2020-06-28T10:07:23","slug":"payments-settlement-guide-for-businesses","status":"publish","type":"post","link":"https:\/\/payu.in\/blog\/payments-settlement-guide-for-businesses\/","title":{"rendered":"A Quick &#8216;Payment Settlement Guide&#8217; For Businesses"},"content":{"rendered":"<p style=\"text-align: justify;\">Businesses, all eyes, and attention here!<\/p>\n<p style=\"text-align: justify;\">One of the most important parts of any online purchase is the &#8216;settlement process&#8217;. As a business do you always wonder, your customer makes an online payment then, how and when you will receive it? Let&#8217;s get all your doubts and questions sorted right away.<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"200\" scrolling=\"no\" frameborder=\"no\" allow=\"autoplay\" src=\"https:\/\/w.soundcloud.com\/player\/?url=https%3A\/\/api.soundcloud.com\/tracks\/455589657&amp;color=%23ff5500&amp;auto_play=false&amp;hide_related=false&amp;show_comments=true&amp;show_user=true&amp;show_reposts=false&amp;show_teaser=true&amp;visual=false\"><\/iframe><\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #43c6ac;\">What Is Settlement?&nbsp;&nbsp;<\/span><\/h2>\n<p style=\"text-align: justify;\">It is a simple process wherein, you receive the money paid by your customers for a specific product or service offered by you.&nbsp;Before the money reaches you, it passes through a simple process.<\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #43c6ac;\">How Does The Settlement Process Take Place?&nbsp;<\/span><\/h2>\n<p style=\"text-align: justify;\">Usually, there are following entities involved in the settlement&nbsp;process:<\/p>\n<ol style=\"text-align: justify;\">\n<li>Your Customer<span style=\"font-family: Calibri, Calibri_MSFontService, sans-serif; font-size: small;\">&nbsp;<\/span><\/li>\n<li>Customer&#8217;s Bank<\/li>\n<li>PayU<\/li>\n<li>Your Bank<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">The settlement process is as follows:<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/blog.payumoney.com\/wp-content\/uploads\/2018\/04\/payment-settlement-process.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3220 size-large\" src=\"https:\/\/blog.payumoney.com\/wp-content\/uploads\/2018\/04\/payment-settlement-process-695x1024.png\" alt=\"online money settlement process\" width=\"695\" height=\"1024\" srcset=\"https:\/\/payu.in\/blog\/wp-content\/uploads\/2018\/04\/payment-settlement-process-695x1024.png 695w, https:\/\/payu.in\/blog\/wp-content\/uploads\/2018\/04\/payment-settlement-process-204x300.png 204w, https:\/\/payu.in\/blog\/wp-content\/uploads\/2018\/04\/payment-settlement-process-768x1131.png 768w, https:\/\/payu.in\/blog\/wp-content\/uploads\/2018\/04\/payment-settlement-process.png 1176w\" sizes=\"(max-width: 695px) 100vw, 695px\" \/><\/a><\/p>\n<ol style=\"text-align: justify;\">\n<li><strong>Customer Makes Successful Payment:<\/strong> Customer does a successful transaction and money is deducted from his bank account.<\/li>\n<li><strong>Cutomer&#8217;s Bank &amp; PayU Reconcile:<\/strong> Both the entities reconcile or tally the successful transactions.<\/li>\n<li><strong>PayU Checks Risk Factors While Customer&#8217;s Bank Transfers Money To PayU:<\/strong> PayU does risk checks to prevent fraudulent transactions. <span style=\"text-decoration: underline;\">In the meanwhile, customer&#8217;s bank transfers money to PayU.<\/span><\/li>\n<li><strong>PayU Settles The Money In Your Bank Account:<\/strong> <span style=\"text-decoration: underline;\">Since PayU has now recieved the money from customer&#8217;s bank, the same is transferred directly to your bank account.<\/span><\/li>\n<\/ol>\n<p><em>Note:<\/em>&nbsp;Please verify your bank account with PayU to receive money or customer payments directly in your bank account.<\/p>\n<h2 style=\"text-align: justify;\"><span style=\"color: #43c6ac;\">When Will You Get The Money In Your Bank Account?&nbsp;<\/span><\/h2>\n<p style=\"text-align: justify;\">With PayU, money gets transferred to your bank account automatically in 2 working days after a successful transaction (except Saturdays, Sundays and Bank holidays). It takes 2 days because there is a dependency on your customer&#8217;s bank to transfer the money to PayU.<\/p>\n<h2><span style=\"color: #43c6ac;\">Exceptional Benefits Of Receiving Payments Directly In Bank Account<\/span><\/h2>\n<p style=\"text-align: justify;\">As mentioned above, payments will be transferred directly to your bank account. We believe that receiving payments in the bank account is any day much safer than having it in your wallets. Here&#8217;s why:<\/p>\n<ol style=\"text-align: justify;\">\n<li>You can use this money for anything you want to.&nbsp; You don\u2019t have to wait to transfer this money from one wallet to the other and then to your bank.<\/li>\n<li>Money in your bank account can be withdrawn as cash whenever a need arises.<\/li>\n<li>Purchasing online tools or clearing overheads, you can use this money for all business needs and expenses.<\/li>\n<li>Spend this money anywhere you want to. Having a good sum of money in your bank account, especially at times of utmost needs is a sigh of relief!<\/li>\n<\/ol>\n<p style=\"text-align: justify;\">Stay wise and choose PayU as, we understand yours and 3.5 Lakh+ businesses need to use a trusted, secured and quick payment gateway.<\/p>\n<p><iframe loading=\"lazy\" style=\"border: 1px solid #CCC; border-width: 1px; margin-bottom: 5px; max-width: 100%;\" src=\"\/\/www.slideshare.net\/slideshow\/embed_code\/key\/uok5zr8z4qWKWz\" width=\"750\" height=\"485\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"> <\/iframe><\/p>\n<div style=\"margin-bottom: 5px;\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Businesses, all eyes, and attention here! One of the most important parts of any online purchase is the &#8216;settlement process&#8217;. As a business do you always wonder, your customer makes&#8230;<\/p>\n","protected":false},"author":38,"featured_media":3047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[582],"tags":[627,634,640],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A Quick &#039;Payment Settlement Guide&#039; For Businesses - PayU Blog<\/title>\n<meta name=\"description\" content=\"One of the most important parts of any online purchase is the \u2018settlement process\u2019. Know all about payments settlement here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/payu.in\/blog\/payments-settlement-guide-for-businesses\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A Quick &#039;Payment Settlement Guide&#039; For Businesses - PayU Blog\" \/>\n<meta property=\"og:description\" content=\"One of the most important parts of any online purchase is the \u2018settlement process\u2019. 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