API ReferenceIntegrationsKnowledge Base

Glossary

The following table lists all the commonly used terms and their definitions used in Route:

Terms

Description

Funds

Payments collected from the customer for products and services offered.

Linked Accounts

Accounts created for third-party sellers once they are onboarded on the Razorpay platform.

Onboarding

The process of adding individual sellers on the Razorpay platform. This process requires submission of the mandatory information such as bank account details of the linked accounts.

Refund

The process of returning funds to the customers from the linked accounts.

Refund Credit

A separate pool of funds created by you or the linked account to process refunds from.

Reversal

The process of moving the transferred funds back from the linked account to your account. This is initiated by you.

Settlement

The process of completing a payment transaction, wherein Razorpay does a transfer of pending funds to your bank account and your linked account's bank account.

Transfer

The process of moving funds from your account to the linked account.

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