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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 Name

Description

PaymentType

PAYMENT or REFUND

MerchantReferenceId

ReferenceId given by the merchant for the txn

PhonePeReferenceId

PhonePe Transaction Id

From

From Party

Instrument

Instrument 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

CreationDate

Date the transaction was created in PhonePe

Amount

Amount of the transaction in rupees(two decimals)

Fee

Fee charged by PhonePe in rupees

TransactionDate

Date of Transaction

SettlementDate

The date on which settlement is successfully reconciled in our accounting system.

BankReferenceNo

UTR

IGST

Integrated Goods and Service Tax

CGST

Central Goods and Service Tax

SGST

State 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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