Glossary
List of commonly used terms related to Razorpay Route.
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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