Point of Sale (POS) machine
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Instant UPI Settlement features
Instant Settlement is applicable for all UPI transactions done on Kotak POS terminals, Soundboxes and QR stickers
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
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.
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.
