Pinelabs Transaction Fees and Settlements

  • Updated

In this article, we will cover the following topics:

  1. When will I receive payment for my orders?
  2. What are the transaction fees?
  3. How will I know when payment has been credited to my account?

When will I receive payment for my orders?

You will receive payment to your bank account 1 business day after the customer has successfully made their payment on your Smartbiz store. 

Note: You will receive payment in the bank account details shared by you in the MAF form.

What are the transaction fees?

Depending on the mode of payment selected by the customer, the following transaction fees will be applied for an order. Transaction fees are not levied on GST or any other taxes.

S No. Payment Methods Transaction Fees
1 Credit Card (Visa, Mastercard, Rupay) 1.85%


Credit Card (Diners) 1.90%
3 Debit Card - Below INR 2000 0.40%
4 Debit Card - Above INR 2000 0.85%
5 Net Banking - Axis, HDFC, ICICI 1.60%
6 Net Banking - Yes, Kotak, SBI 1.20%
7 Net Banking - All other banks 1.25%
8 UPI 0.08%
9 Wallets - ITZ, Mobikwik, Yes Bank 1.75%

How will I know when payment has been credited to my account?

You will receive a settlement report of transaction details on email one day after transaction is completed. The report will be shared on the email provided by you on the MAF form.


Why is Pinelabs charging UPI transaction fees when RBI/NPCI guidelines state that UPI charges are NIL?


We understand your concern, and we appreciate you bringing this up. While it's accurate that there are generally no transaction fees for UPI in peer-to-peer transactions according to RBI/NPCI guidelines, Pinelabs, as an aggregator, may apply a fee called TSP (Transaction Service Provider) fees for the services they offer on UPI transactions. It's important to note that this fee is determined by the aggregator and isn't mandated by RBI/NPCI. The card fees, similarly, are set by the aggregator and are standard across the industry.