At a time when digital payments are soaring, the Same Day Settlement (SDS) feature that is available on the Kotak Point of Sale (PoS) terminals and QR stickers is very useful for businesses – it allows merchants to get payments settled the same day, within few hours.
This feature allows to carry out your business conveniently without worrying about any monetary liquidity as you have access to your funds the Same Day the transaction is done.
For any transactions done on POS terminals or QR, the settlement usually happens on T+1 day (i.e. the next day after the transaction is done) in the registered Current Account of the merchants.
Kotak Bank’s Same Day Settlement can help merchants in more ways than one. With this, merchants can get access to their funds on the day of the transaction. This enables them with cash flow to manage stock & inventory, provide advance salaries, and pay vendors on time. It ensures monetary liquidity even on holidays.
No, the merchants can settle unlimited amounts through Same Day Settlements.