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Settlement


Settlements of all transactions with the merchants is done on a t + 1(offline), t + 2(online) basis except on bank holidays(2nd and 4th Saturdays, Sundays and other government holidays). However, settlement cycle of a transaction is subject to change depending on type of transaction, merchant and business model. Please confirm your settlement cycle during commercial closure.

All payment transactions of a customer using PhonePe as well as refunds for these purchases post settlement are reflected in the settlement report. Net payment is transferred to merchant’s bank account after netting off commissions and refunds.

Settlement report format

Field NameDescription
PaymentTypePAYMENT or REFUND
MerchantReferenceIdReferenceId given by the merchant for the txn
PhonePeReferenceIdPhonePe Transaction Id
FromFrom Party
InstrumentInstrument used for the transaction. Following are the various instruments available:
AIRTEL_WALLET_REDEMPTION
AIRTEL_WALLET_REDEMPTION_REVERSE
EXTERNAL_VPA_REDEMPTION_REVERSE
EXTERNAL_VPA_REVERSE_YES_PAY
FREECHARGE_WALLET_REDEMPTION
FREECHARGE_WALLET_REDEMPTION_REVERSE
JIO_WALLET_REDEMPTION
JIO_WALLET_REDEMPTION_REVERSE
PG_REDEMPTION_CC
PG_REDEMPTION_DC
PG_REDEMPTION_REVERSE
PS_UPI_REDEMPTION_REVERSE
REVERSAL_OFFER_ADJUSTMENT
RGCS_UPI_REDEMPTION_REVERSE
UPI_REDEMPTION
WALLET_REDEMPTION
WALLET_REDEMPTION_REVERSE
INSTANT_REDEMPTION_REVERSE
EXCESS_RECOVERY
INVOICE_RECOVERY
SHORT_SETTLEMENT
CreationDateDate the transaction was created in PhonePe
AmountAmount of the transaction in rupees(two decimals)
FeeFee charged by PhonePe in rupees
TransactionDateDate of Transaction
SettlementDateThe date on which settlement is successfully reconciled in our accounting system.
BankReferenceNoUTR
IGSTIntegrated Goods and Service Tax
CGSTCentral Goods and Service Tax
SGSTState Goods and Service Tax

Settled amount = Amount + Fee + IGST + CGST + SGST (fees and taxes will be negative valued in the report)

Updated about a year ago

Settlement


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