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

Settlement IDDescription
8Instant settlement every hour 24*7.
9Instant settlement every 3 hours 24*7.
14Instant 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.

Vendor instant settlement within banking hours

Schedule IDDescription
3All 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.
6Instant settlement every hour between 7:00 AM and 5:00 PM on working days.
7Instant 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.