Glossary

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.