Q: 4. How are payments made by my customers settled to my account? Is any action required from my end?

No action is required from your end for the settlements. Razorpay automatically settles the captured payments to your account as per your settlement cycle. Know more about Settlements .

Q: 5. A payment is marked as 'failed' on my Dashboard but money is debited from the customer’s account. What do I do?

A payment is said to be in the 'failed' state when we do not receive a successful callback message on the transaction from the issuing bank. If the customer’s account is debited and we do not receive a successful callback, the amount will be auto-refunded by the customer’s issuing bank in 7-10 working days. In case of a failed payment, we verify the status with the bank at regular intervals. If there is a change in status, the payment moves to the authorized state, and a notification is sent to you and the customer. In such scenarios, you can choose to do any one of the following: Provide services : Capture the payment and provide the service/good as was promised earlier to the customer. Refund the transaction : If you are not able to provide service to the customer as per the agreed terms (such as, time of delivery, cost of purchase or inventory issues), refund the payment to the customer.

Q: 6. Is Razorpay PCI-DSS compliant?

Yes, Razorpay is PCI-DSS compliant.

Question 1

1. How much does Razorpay charge per transaction?

Accepted Answer

Razorpay offers an enterprise plan designed for large volumes, which gives you the best prices possible for your business. Know more about

pricing

.

Question 2

2. Is GST mandatory to accept payments?

Accepted Answer

No, GST is not mandatory if your business does not have an annual turnover of over ₹20 lakhs. However, if you do not provide your GST details, you would not be able to claim TDS at the time of filing your tax returns.

Question 3

3. What is the applicable GST? How is it charged?

Accepted Answer

18% GST is charged on the fee deducted for all payment methods except domestic card transactions of amount < = ₹ 2,000. You can check the

Monthly Invoice Report

from the Reports section of your Dashboard to understand GST charged.

Question 4

4. How are payments made by my customers settled to my account? Is any action required from my end?

Accepted Answer

No action is required from your end for the settlements. Razorpay automatically settles the captured payments to your account as per your settlement cycle. Know more about

Settlements

.

Question 5

5. A payment is marked as 'failed' on my Dashboard but money is debited from the customer’s account. What do I do?

Accepted Answer

A payment is said to be in the 'failed' state when we do not receive a successful callback message on the transaction from the issuing bank. If the customer’s account is debited and we do not receive a successful callback, the amount will be auto-refunded by the customer’s issuing bank in 7-10 working days.
In case of a failed payment, we verify the status with the bank at regular intervals. If there is a change in status, the payment moves to the authorized state, and a notification is sent to you and the customer.
In such scenarios, you can choose to do any one of the following:

Provide services: Capture the payment and provide the service/good as was promised earlier to the customer.
Refund the transaction: If you are not able to provide service to the customer as per the agreed terms (such as, time of delivery, cost of purchase or inventory issues), refund the payment to the customer.

Question 6

6. Is Razorpay PCI-DSS compliant?

Accepted Answer