For payments that are part of your daily Settlement 

You will receive the settlement for all payments made to you for a particular day, on the next day by 08:00 a.m. 

If you are eligible, you can also request for early settlements to be credited to your linked bank account using the Settle Now feature in the app. You can request for early settlement once every hour, any time before 11:00 p.m.

To find Settle Now, go to the Settlements tab in the History section of the PhonePe Business app. 

Note: Only selected merchants can avail early settlements.