The settlement process will begin immediately after 24hrs of successfull order delivery.
The whole process usually takes 5 - 7 working days.
Might vary depends on the bank, kindly contact your bank for more details.
Kindly check your order history, if there are any cancelled orders.
There is a cancellation fee of 4%* applicable for the orders you cancel.
This fee will be deducted in your next settlement cycle.
*Please note, GST of 18% is applicable only for the cancellation fee of 4% and not on the total amount which buyer pays.
This cancelltion fee is applicable only for online payment activated sellers.
Example:
Total transaction amount = Rs.100
Payment gateway transaction fee (4%) = Rs.4
GST (18%) = Rs. 0.72
Total Payment gateway transaction fee is Rs. 4.72
Previous Cancelled order
Total transaction amount = Rs.500
Cancellation fee (4%) = Rs.20
GST (18%) = Rs. 3.60
Total Cancellation fee is Rs. 23.60
Total settlement amount = Total order amount - (Payment gateway fee + Cancellation fee)
That is Rs.100 - (Rs. 4.72 + Rs. 23.60) = Rs. 71.68
So, total settlement amount is Rs. 71.68
Your settlement process will begin only after 24hrs of successfull order completion.
Kindly note: You settlement might delay, if the buyer raises any concern/issues with the delivered product.
You will receive the amount only when the order gets completed.