The following table lists all the commonly used terms and their definitions used in the app:
Amount collected from customers through your website, app or using a Razorpay product such as Payment Links.
Settlement is the process in which the money received from your customers is settled to your bank account. Settlements for all payments will be done in INR (Indian Rupees), irrespective of the currency in which the payment was made.
Customers may request a refund of the payments made for the products or services purchased or availed on your website or app.
Payment Links are URLs that you can send to your customers through SMS and email to collect payments from them.