Glossary

Meaning P2M payment stands for Peer-to-Merchant payment, which involves transferring money digitally from a customer to a business…

Definition P2P payment stands for Peer-to-Peer payment, which means transferring money directly between individuals using digital platforms like…

Definition A one-time mandate is a pre-approved instruction that allows automatic debit of a specified amount only once…

Meaning A merchant settlement report is a detailed statement provided by banks or payment platforms that shows the…

Definition Multi-bank linking means connecting more than one bank account to a single digital payment platform, such as…

Definition Micro payments are very small transactions, usually less than ₹100, made digitally for low-cost services or products.…

Meaning Merchant settlement cycle is the time taken by banks or payment systems to transfer collected customer payments…

Definition Mobile recharge via UPI means topping up your prepaid balance or paying your postpaid bill directly through…

Meaning A mandate payment is a pre-approved instruction that allows money to be automatically deducted from your account…

Definition Linked bank accounts are bank accounts connected to a payment app like UPI. This connection allows users…