This document explains how settlement of funds normally works through bill payments processed through Safepay. We partner with Haball to provide this service so you may see their logo in use in places.
Important to note
The dates and timelines provided in this document are provided for information purposes. Due to situations out of our control, such as public holidays, settlement may be delayed. If you have any questions on settlement please reach out to us at firstname.lastname@example.org.
To see when a captured transaction will be credited to your Linked Bank Account you can click the ? icon next to a transaction or view your payment details to see this.
Depending on the number of transactions you process in a day through Safepay using bills, settlement will occur in a batch in your account.
This means that you will see all your Safepay transactions for the previous time period in aggregate, not broken down per transaction. You should use your Safepay dashboard to reconcile payments by your customers processed through Safepay and the amount settled in your linked bank account.
Example: you have processed 5 payments through Safepay on Tuesday of Rs 100 each, the settlement amount in your bank account on Wednesday will appear as 1 entry of Rs 500. This will appear as "AC TRANSFER CR" on your bank statement.
|Day customer pays you|| Day money settles in your account
(end of next working day)
|Example customer payment timeline||Example settlement timeline|
|Monday||Tuesday||22nd March 2021||23rd March 2021|
|Tuesday||Wednesday||23rd March 2021||24th March 2021|
|Wednesday||Thursday||24th March 2021||25th March 2021|
|Thursday||Friday||25th March 2021||26th March 2021|
|Friday||Monday||26th March 2021||29th March 2021|
|Saturday||Monday||27th March 2021||29th March 2021|
|Sunday||Monday||28th March 2021||29th March 2021|
|Day before public holiday||Next working day||13th August 2020||15th August 2020|
|Public holiday||Next working day|| 14th August 2020
|15th August 2020|
Settlement details on your Merchant Dashboard
To see expected settlement timelines for captured transactions on your Merchant Dashboard, you can access this by clicking the ? next to a payment or by going into the Payment Details of a captured transaction as shown below.