Online payments and payouts

Online payment is optional. When you set it up, clients pay at checkout on your booking page. Razorpay collects the payment and transfers it to the bank account you register, after the deductions below and once the payout hold ends.

In your Personal workspace, open Bookings, then Payments, and choose Set up payment account. The form takes you through four steps:

1. Business: your business name and type, and a business PAN or CIN where the business type requires one.
2. Contact & Address: your contact details, address, PIN code and state, and a 10-digit Indian mobile number.
3. Owner KYC: the name, email address and PAN of the person who owns or signs for the account.
4. Settlement: the account number, IFSC code and the account holder's name for the account that is to be paid.

Payment accounts are available to businesses in India only. By submitting, you agree to Razorpay's terms.

Razorpay verifies your details; PracMind does not. The Payments card shows one of four statuses:

Not started

No payment account has been submitted.

Verification pending

Razorpay is still checking your details.

Verified

The account can receive payments.

Rejected — resubmit required

Razorpay did not accept the details, and you need to submit them again.

A payment can only be sent to a Verified account. Until yours shows Verified, PracMind cannot route a client's payment to you. If Razorpay needs more information, the card says what.

Your business, owner and bank details are sent to Razorpay, which holds them to do the verification. PracMind shows only the last four digits of your account number and the account holder's name. See the Privacy Policy for how PracMind handles personal data.

A payment processing fee of 2% of the full amount the client pays, plus 18% GST on that fee, is held back from each payout. It is calculated at these rates whichever payment method the client uses.

On a ₹1,000 payment the processing fee is ₹20 and the GST on it is ₹3.60, so ₹23.60 is held back and ₹976.40 is left.

Services settings show the same estimate while you set a price. Treat it as an estimate: the amounts recorded for a payment are taken from the payment provider after the payment is captured.

If you charge GST on bookings, the GST the client pays is passed on to you with the payout, because you are the one who files and pays it. See GST on your bookings.

• Each payout is held until 24 hours after the scheduled end of the session it paid for. This is so that a refund before then can always be taken back out of it.
• If you reschedule a session, PracMind moves the hold to 24 hours after its new end. If PracMind cannot move it, the payout is released at the original time.
• When the hold ends, the payout is released. How long the money then takes to reach your bank depends on Razorpay's settlement schedule and your bank. PracMind does not control it and does not promise a date.

Each practice sets its own cancellation window, which the client sees on your booking page before paying and again on their confirmation. The Refund Policy, which clients see at checkout, sets out when a client is entitled to a refund and how it is paid back.

Email support@pracmind.in with the booking reference and what you expected. Questions about how Razorpay verifies an account or settles to a bank are answered by Razorpay.