1. DEFINITIONS
For the purpose of this Policy:
Company means VVN Multiservices India Private Limited.
Merchant means any individual or entity registered on the Payonclick platform.
AEPS means Aadhaar Enabled Payment System governed by NPCI.
Settlement means crediting of transaction amount to the merchant wallet/bank account.
Working Day means days excluding bank holidays and public holidays.
2. OBJECTIVE
This Policy outlines the settlement mechanism applicable to AEPS transactions to ensure transparency, regulatory compliance, and operational clarity for merchants.
3. APPLICABILITY
This Policy shall be applicable to all merchants onboarded with Payonclick and all AEPS transactions initiated through the platform.
4. SETTLEMENT MECHANISM
All successful AEPS transactions shall be credited to the merchant’s AEPS wallet.
Merchants may transfer funds from the wallet to their registered bank account.
Only successful transactions shall be considered for settlement.
Failed, reversed, or declined transactions shall not qualify for settlement.
5. SETTLEMENT TIMELINE
AEPS Wallet Credit: T+0 / T+1 Working Day
IMPS Transfer: Instant – 30 Minutes
NEFT Transfer: 2 to 24 Working Hours
6. FEES & COMMISSIONS
Applicable charges shall be deducted as per the prevailing rate card.
The Company reserves the right to revise charges at its discretion.
Updated charges shall be notified on the website.
7. FAILED / REVERSED TRANSACTIONS
Refunds for failed transactions shall be processed within T+3 to T+7 working days.
Refunds are subject to confirmation from NPCI and respective banks.
Merchant must provide valid transaction details for tracking.
8. MERCHANT OBLIGATIONS
Merchants shall use correct Aadhaar and bank details.
Maintain functional biometric devices.
Provide transaction receipts to customers.
Ensure compliance with all applicable laws.
Refrain from fraudulent or misleading activities.
9. RISK & COMPLIANCE
The Company reserves the right to hold settlements, block wallets, suspend accounts or reverse transactions in case of suspected fraud or regulatory non-compliance.
10. LIMITATION OF LIABILITY
The Company shall not be liable for bank delays, NPCI downtime, technical failures or third-party system issues.
11. DISPUTE RESOLUTION
All disputes shall be reported at contactus@payonclick.in
Transaction ID, Date, Time and issue details must be shared.
12. GOVERNING LAW & JURISDICTION
This Policy shall be governed by the laws of India.
Courts of Sirsa, Haryana shall have exclusive jurisdiction.
13. POLICY AMENDMENT
The Company reserves the right to amend this Policy at any time.
Updated versions shall be published on the website.
14. ACCEPTANCE
By using AEPS services, the merchant acknowledges and agrees to comply with this Policy.