Guide to Fast Payment Settlement for Businesses: - www.deekpay.com

Attention, merchants!

One of the most critical parts of every online purchase is the "checkout process". As a merchant, are you always curious about when and how you receive the money once the customer has paid online? Let us answer all your questions right away.

What is a settlement?

Settlement is a simple process by which you receive funds paid by a customer for a specific product or service you provide. It goes through a simple process before the funds reach you.

How does the settlement process work?

Typically, the following entities are involved in the settlement process:

Your Customers

client bank

PayU

Your Bank

The settlement process is as follows:

1. Successful payment by the client: the client completes the transaction and the funds are deducted from his bank account.

2. Reconciliation of the Client's bank with PayU: both parties reconcile successful transactions.

3. Risk checking by PayU when the client's bank transfers funds to PayU: PayU performs risk checks to prevent fraudulent transactions. At the same time, the client's bank transfers the funds to PayU.

4. PayU settles the funds to your bank account: Since PayU has already received the funds from the customer's bank, it will transfer the funds directly to your bank account.

Note: Please verify your bank account information in order to receive funds or customer payments directly into your bank account through PayU.

When will you receive the funds in your bank account?

With PayU, funds will be automatically transferred to your bank account within 2 business days of the successful transaction (excluding Saturdays, Sundays and public holidays). The reason why it takes 2 days is that it relies on the customer's bank to transfer the funds to PayU.

Additional benefits of receiving payments directly from your bank account

As mentioned above, payments will be transferred directly to your bank account. We believe that it is much safer to deposit funds into your bank account than to keep them in your wallet. Here's why:

You can do whatever you want with the money. You don't have to wait to transfer money from one wallet to another and then to your bank.

Funds in a bank account can be withdrawn in cash whenever needed.

Purchase online tools or pay for day-to-day expenses, and you can use that money for all your business needs and expenses.

You can use this money anywhere. It is indeed a relief to have enough money in your bank account at a critical time!

Choose wisely and choose PayU because we understand your needs and the needs of more than 350,000 businesses that need a reliable, secure and fast payment gateway.