Instant UPI Settlement features

  • Instant Settlement is applicable for all UPI transactions done on Kotak POS terminal, UPI QR or static QR
  • No additional charges for the service
  • Available 24X7 including Sundays & public holidays
  • This service is applicable at the time of on-boarding for new Kotak merchants

Benefits of Instant UPI settlement service

  • Easy & early access to your money
  • Reduction in daily cash crunsh & increased cash flows
  • Better management of inventory & stock
  • Payments to creditors & vendors without any delays

Frequently Asked Questions

What is instant UPI settlement or real-time settlement for UPI transactions?

For any customer payments done on POS machines or QR stickers, the settlement to the merchants usually happens on T+1 day (i.e., the next day after the transaction is done) in their registered Current account.

However, with Kotak Bank's Instant UPI Settlement service, merchants can receive funds instantly in their Kotak Current Accounts for all successful UPI transactions done by their customers on Kotak POS machines or QRs.

Can anyone avail Instant UPI settlement facility?

Only merchants who hold a Kotak Current Account are eligible for this service. It applies to all UPI transactions done on POS terminals, Bharat QR, and UPI QR stickers. Currently, this service is available for new Kotak merchants only.

Also, this service is enabled at the MID level, so all TIDs linked to that particular MID will be activated with the service.

How can Instant UPI Settlement help merchant's business?

With Instant UPI Settlement, merchants can access their funds within seconds.

Merchants can enjoy increased cash flows, manage low working capital, pay bills at any time without delays, repay any due loans, along with managing their stocks.

What is the difference between Instant UPI Settlement and Same Day Settlement?

Kotak Bank offers merchants the flexibility to choose how they prefer the settlements for their business.

With Same Day Settlement, all transactions (Cards & UPI) get settled the same day within a few hours basis the cycle opted by the merchant (cycle 1 & cycle 2)

With Instant UPI Settlement, settlements for all their UPI transactions happen instantly. For Card transactions, Instant Settlement facility is not available. Card transactions will get settled as per the defined settlement cycles.