Frequently Asked Questions (FAQs)
Find answers to frequently asked questions about SC 2.0.
SC 2.0 offers solutions that Smart Collect does not. With SC 2.0, you can:
- Collect and settle payments instantly from customers and third parties.
- Create alphanumeric Customer Identifiers as well as virtual UPI IDs to collect payments.
Customer Identifiers (CIs) are 16-digit numbers used to collect funds via IMPS/NEFT/RTGS. Payments made to Customer Identifiers are settled instantly.
You must open an escrow account if the end beneficiary is a third party. However, if your end beneficiary is a merchant/customer, you need a Current account.
You can make payouts using the using the
.Yes. You must update the Customer Identifiers when firing the Smart Collect APIs. Smart Collect Customer Identifiers are numeric whereas SC 2.0 Customer Identifiers are alphanumeric. That is the only change you must make.
No, it is not mandatory. You can migrate from Smart Collect to SC 2.0 based on your business needs.
We collect the Smart Collect 2.0 usage fee from your
. If your Fee Credits are low, we charge it from your .Was this page helpful?
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