Pricing Policy for Merchant
At Spring Pay, we have standardized pricing according to the services rendered by us. The details are provided to you beforehand according to the Service plan selected by you. Transaction charges for the different instruments used on Spring Pay platform are decided based on the payment instrument used for the transaction. Following is the list of charges for using Spring Pay Platform.
Type of Instrument Charge
Debit Card (Visa, Mastercard, Rupay) (Below Rs. 2000) 1.35%
Debit Card (Visa, Mastercard, Rupay) (Above Rs. 2000) 1.6%
Credit Card (Visa, Mastercard, Amex) 2.35%
15% service tax will be applicable on the above charges
SCHEDULE OF PAYMENT
Spring Pay payment platform will be available to merchants 24 hours all 7 days a week for accepting payments. Downtime of system may occur in case of software upgrades or downtime of our technology partners. We will try to inform you regarding scheduled maintenance.
Spring Pay will make settlements to the merchant on a T+2 business days basis where T is the date of transaction processing. We reserve the rights to modify the mode and cycle of payouts at any time. We will try our best to inform you regarding any changes in the payment schedule.
Pricing of payment services offered by Spring Pay are in line with our service offerings. We are committed to offering you the best in class service and payments experience.
The Merchant may sell the goods at the specified price negotiated between the merchant and the customer during the time of purchase. Spring Pay will not be liable for any pricing arguments between the customer and the merchant once the payment of good/ services has been made by the customer and the goods/ services has been delivered to the customer.
TRANSACTION AMOUNT ERRORS
Amount entered by the customer would be deducted from the customer’s account. The actual deducted amount would also be available for the merchant to view in the notification sent. Spring Pay ensure that the amount entered by customer is the same as the one reflected in the notification. The merchant needs to ensure the amount in notification is same as transaction amount as fees will be levied on the amount mentioned in the notification. In case of any error in the Transaction Amount and deduction from your bank account do contact us on our merchant service number. Our executives are ready to assist you—simply call 9699958008 between 10 AM – 6 PM Monday to Friday.
In case of frequent occurrence of errors, Spring Pay reserves the right to decline its services to the merchant.
You can get the most current version of our pricing policy from Spring Pay.
We reserve the right, at our sole discretion, to update, change or replace any part of these pricing policies by posting updates and communicating to customer. Your continued use of or access to our mobile application or the Service following the posting of any changes to these Pricing Policy constitutes acceptance of those changes.