Micro Payments
Definition Micro payments are very small transactions, usually less than ₹100, made digitally for low-cost services or products.…
Merchant Settlement Cycle
Meaning Merchant settlement cycle is the time taken by banks or payment systems to transfer collected customer payments…
Mobile Recharge via UPI
Definition Mobile recharge via UPI means topping up your prepaid balance or paying your postpaid bill directly through…
Mandate Payment
Meaning A mandate payment is a pre-approved instruction that allows money to be automatically deducted from your account…
Linked Bank Accounts
Definition Linked bank accounts are bank accounts connected to a payment app like UPI. This connection allows users…
Low-Value Payments
Meaning Low-value payments are small-sized transactions usually made for everyday expenses. These are quick and often completed without…
Instant Settlement
Definition Instant settlement means transferring money to the merchant’s bank account immediately after a customer makes the payment.…
Instant Payment
Meaning Instant payment refers to money transfers that happen in real-time. Once the transaction is confirmed, the money…
High-Value Payments
Definition High-value payments are transactions involving large sums, usually above the standard daily limits set by banks or…
Failed UPI Payment
Meaning A failed UPI payment occurs when a money transfer request does not complete. The money either remains…