Releasing the retailer’s limitation of work and giving them a larger bandwidth to work with, which in turn would help increase their earnings, is what we have always tried to achieve through our app. Promoting small businesses like those of the Kirana stores through digital platforms would require inducing an impregnable trust and assurance to the retailers in the space of digital monetary transactions. It’s only through this, that we can get the retailers to adapt to advanced modus operandi of business which would help them take their enterprise to new and improved heights. This would also help in taking the digital payments a notch higher and make them as powerful and familiar as cash payments.
This month we launched one of the most-asked-for feature on the Pay1 Digi platform“Instant Settlement” that eases the retailers business operations and saves time.
Our team has been working diligently on this service since months now. Previously, the merchant had to wait for T+1 working days for the transaction amount to get settled in his bank account.
But now through this service, the retailers can instantly settle the amount in their bank accounts. The merchants can also track all the payments received along with the mode of payment used by the customer and settlements on a real-time basis. Regular communication with the merchants on our platform helps us understand their needs better.
So what’s the process through which the retailer can use this service?
- The process of instant settlement is really easy. To use this service the merchant will have to log in to the Pay1 Digi app and click on instant transfer.
- There are three options made available on the platform to transfer the money, one through NEFT, through IMPS and Pay1 wallet.
- The merchant can check his transaction history, its status and also the mode of payment, the customer has used to transact money into his account.
Let’s see how this feature would benefit our retailers.
- The retailers can now settle their money according to their convenience and choice of time.
- They can now enjoy the comfort of settling money with a single tap in their bank account.
- What is the maximum transaction amount that can be settled in a bank account, at a time? At a time retailers can settle a maximum transaction amount of Rs. 50,000/-
- In a single day, how many times can the retailer send money to his bank account? The retailer can send money, multiple times in a day as there is no limit to the same.
- Can the instant bank transfers be automated? Currently, there is no way through which the bank transfers can be automated.
- Is this feature available on all Pay1 app platforms? This feature is exclusively available on the Pay1 Digi app.
If you have any more queries regarding the instant settlement feature, reach out to us at…
- Call: 022 4293 2288
- Mail: email@example.com