{"id":4399,"date":"2020-07-31T17:41:53","date_gmt":"2020-07-31T12:11:53","guid":{"rendered":"https:\/\/razorpay.com\/blog\/?p=4399"},"modified":"2025-05-05T14:45:13","modified_gmt":"2025-05-05T09:15:13","slug":"same-day-settlements-api","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/business-banking\/same-day-settlements-api\/","title":{"rendered":"Get Settlements in under 10 Seconds with Razorpay"},"content":{"rendered":"

Razorpay\u2019s mission and vision lie in the objective of making the payments easier; making it super-simple for businesses to accept and receive payments. <\/span><\/p>\n

While we had solved most of the problems with accepting payments<\/a>, a pressing problem in the market has been the lag at which a business receives the settlement. The industry average is usually 2 days after the payment has been captured for most of the payment methods<\/a>. But now, there are solutions in the market that have same-day settlements as well.<\/span><\/p>\n

Razorpay also has one. The Razorpay Early Settlements product has been pushing boundaries to get settlements to the merchants on the same day and in certain cases, in almost real-time. <\/span><\/p>\n

While we managed to reduce the time of settlement from almost two days to the same day<\/a>,<\/span> our businesses wanted the settlements to happen instantly and at the payment-level.<\/span><\/p>\n

So, we could identify two major problems here:<\/span><\/p>\n

    \n
  1. Settle instantly<\/span><\/li>\n
  2. Settle at each payment level<\/span><\/li>\n<\/ol>\n

    Razorpay, with its quest to innovate to give a superior customer experience, has come up with solutions for both.<\/span><\/p>\n

    For the first problem, once you are enabled on Scheduled Early Settlements, if you trigger On-Demand settlements, the funds will get settled to your account almost instantly. In 99.8% of the cases, within 10 seconds! Yes, correct! You can get your settlements in almost real-time.<\/span><\/p>\n

    For the second problem, Razorpay has now exposed APIs to trigger On-Demand Settlements without having to come to the dashboard. What this does is it also allows you to automate when the APIs are to be requested! <\/span><\/p>\n

    By automating the API call, when businesses receive a notification (known as webhooks) for a successful payment capture, they can call the on-demand settlement API to settle the same amount. <\/span><\/p>\n

    Businesses can also add the payment ID value in the request for reconciliation<\/a> purposes at their side. You can read more about the API in our API documentation section here<\/a>.<\/span><\/p>\n

    For example, let\u2019s say you run a trading service and you want access to the money as soon as a customer pays since stock prices can change every second. Razorpay provides a webhook that notifies you when a payment has been captured. On receiving the webhook, the mutual fund marketplace can trigger the on-demand settlement API to settle the same amount, almost instantly.<\/span><\/p>\n

    This opens quite up a few opportunities for innovative startups. You can improve your operations and increase the speed of your customer’s journey. More importantly, it lets you get a competitive edge by developing something new that wasn\u2019t possible earlier.<\/span><\/p>\n

    Here\u2019s what Razorpay Early Settlements has to offer you:<\/span><\/p>\n