Holiday/Weekend Settlements

1. What are the fees associated with Weekend Settlement?

The fees include the standard Merchant Discount Rate (MDR) plus an additional weekend fee (e.g. 0.15%).
For example, a ₹1 lakh transaction would incur a ₹150 fee.

2. Is there a limit on the funds that can be settled on a bank holiday?

Yes, there is a cap on the amount that can be settled to your account on a bank holiday. This limit will be configured during the merchant onboarding process.

3. What happens if Same Day Settlements and Weekend Settlement are activated at the same time?

Both fees will be applicable during fund settlement.
For example, if a transaction is made on Saturday at 2:00 PM, it will be settled on Saturday itself by 5:30 PM. In this case, both the Same Day Settlement (SDS) fee and the Weekend Settlement (WS) fee will be applied.

4. Which days are considered holidays in the calendar?

The list of holidays will be provided to merchants at the time of activation.

5.Who should I contact if there is a delay in settlements?

Pine Labs Online ensures 100% on-time settlements. In rare instances of delays, we proactively communicate with you to keep you informed.

6. How can I deactivate this feature?

Contact your account manager or the customer support team for assistance.

7. How does Weekend Settlement differ from a standard T+1 Working Day Settlement?

The Weekend Settlement option in Pine Labs Online provides a faster settlement process compared to the standard T+1 Working Day Settlement. Here's how they differ:

Standard Settlement (T+2) with Pine Labs Online:

If a customer transacts on Saturday (Bank Holiday), the settlement follows the standard T+2 cycle.
If Monday is a working day, Pine Labs Online settles the amount to the merchant on Monday (T+2).
If Monday is a Bank Holiday, the settlement is further delayed, and Pine Labs Online settles the amount on Tuesday (T+2).

Weekend Settlement (T+1) with Pine Labs Online:

If Weekend Settlement is enabled, all transactions are settled on a T+1 basis, ensuring faster fund availability for merchants.
A transaction made on Saturday (Bank Holiday) will be settled on Sunday (T+1) instead of being delayed to Monday or Tuesday.

This feature allows you to receive settlements more quickly using Pine Labs Online, even on weekends and bank holidays, thereby improving cash flow and reducing delays in fund transfers.