Vendor payments are as tricky as they are essential.
As payment systems are becoming rapidly digitized, vendors have come to expect quick settlements from their business partners.
After all, quick settlements ensure that businesses (especially SMBs) have enough resources for buying inventory. As a result, they can continue their operations without any hindrance.
However, digital transactions can sometimes take up to 72 hrs to reflect in the bank account causing major liquidity issues.
So, how can you ensure your vendors get access to their funds instantly?
Enter: On-Demand Vendor Settlements
Provide your vendors with access to their unsettled funds 24*7×365 days a year even on bank holidays with on-demand vendor settlements; powered by Cashfree Payments. (Exclusively for easy split customers)
Become the agents of growth for your vendors and partners. exclusively for easy split customers
Why vendor On-demand Settlements?
- Your small & medium size vendors usually face liquidity crunch leading to massive operational dysfunctionality. The ability to gain instant access to their unsettled funds wherever they demand can help increase operational stability and foster overall business growth.
- The easy flow of money between you and your vendors can help improve business relationships. After all, your growth is directly proportional to your vendor’s growth.
What’s New For Easy Split Merchants?
- You would be able to initiate on-demand instant settlement to vendor accounts as and when required on an ad-hoc basis without having to wait for the settlement cycle.
- You can choose the interval of transactions they wish to settle instantly at the vendor level.
Difference between Vendor-On-Demand and Merchant-On-Demand Settlement
- Merchant-on-demand settlement helps you access your customers’ funds in your bank account whenever you need them. Whereas, vendor on-demand settlements is to enable your vendors to access their unsettled funds 24*7, 365 days a year.
- Merchant on demand is initiated from the settlement tab, whereas vendor on demand is initiated for specific vendors from the Easy split tab in the merchant dashboard. You can also use API for the same.
How To Activate Vendor-On-Demand Settlement?
- Enable vendor-on-demand settlement for your vendors from the merchant dashboard
- A request is routed to the Cashfree ops team
- Vendor-on-demand settlement is activated
