Why is the payment not getting credited to the society account on the same day when the resident made the payment?

Mygate uses payment gateway aggregators to process payment collections. When a resident makes a payment, the funds are initially transferred to our intermediary special current account on a T+1 basis, meaning the payment will reach our account the following day. Once received, the amount is promptly transferred to the society's account within a few hours.

It’s important to note that the funds do not remain in our account for more than a few hours, as they are quickly transferred to the society's account. Therefore, the delay in the payment reflected in the society account is simply due to the processing time required for the transfer.