About Rechargekit Fintech Private Limited

What is Rechargekit Fintech?

Rechargekit Fintech Private Limited is a leading re-seller of Payment Gateway Service, authorized by Payment Gateway Aggregator or/and Indian Financial Institution, to appoint Sub Merchants. We accept and validate Internet payments via Credit Card, Debit Card, Net banking, POS, ATM-cum-Debit Card, Digital and Mobile Wallets, Mobile Payment and Cash Card modes from the end customers in real-time. We provide a secure link between your website, various issuing institutions, acquiring Banks and the payment gateway providers.

What does Rechargekit Fintech Private Limited do?

Rechargekit Fintech Private Limited provides complete, simple and secure online payment gateway services and/or POS with a real-time Credit Card, Debit Card, Net Banking, Digital and Mobile Wallet, Cash Card and Mobile Payment transaction validation process.

What are the businesses that are not accepted by Rechargekit Fintech?

Adult Products:
Adult goods and services which include pornography and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services and massage parlors: Payment of potentially sexual related services.

Copyrights:

• Copyright unlocking devices which include Mod chips or other devices designed to circumvent copyright protection
• Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials
• Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software

Fake Certificate:
Government IDs or documents which include fake IDs, passports, diplomas, and noble titles.

Drugs:

• Drugs and drug paraphernalia which include illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms.
• Unlawful Sale of Prescription Drugs: Online sale of prescription drugs to consumers by a pharmacy that is not, either;
• certified by VIPPS® (Verified Internet Pharmacy Practice Sites) or
• licensed by the board of pharmacy in the state in which it is located.
• Drug test circumvention aids which include drug cleansing shakes, urine test additives, and related items
• Prescription drugs or herbal drugs or any kind of online pharmacies which include drugs or other products requiring a prescription by a licensed medical practitioner.

Replica Products:
Counterfeit and unauthorized goods, which include replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods.

Gambling:
Gaming/gambling which includes lottery tickets, sports bets, memberships/ enrolment in online gambling sites, and related content. Casino Gaming Chips, Off-Track Betting and Wagers at Race Tracks.

Sharp objects:
Weapons, which include firearms, ammunition, knives, brass knuckles, gun parts, and other armaments

Tobacco and Cigarettes:
Tobacco and cigarettes, which include cigarettes, cigars, chewing tobacco, and related products and Unlawful Sale of Tobacco: Online sale of tobacco products by a retailer that is not (1)Certified to pay state taxes, and/or (2)preventing sale of tobacco products to under-age consumers.

Live Plants/ Animals:
Endangered species which include plants, animals or other organisms (including product derivatives) in danger of extinction Live animals or hides/skins/teeth, nails and other parts etc. of animals.

Currencies:
Wholesale currency which includes discounted currencies or currency exchanges Merchant dealing in Crypto Currencies

Human Parts: Body parts which include organs or other body parts

Online Trading: Securities that include online trading of stocks and bonds etc.

Devices:

• Cable descramblers and black boxes which include devices intended to obtain cable and satellite signals for free
• Pyrotechnic devices and hazardous materials which include fireworks and related goods; toxic, flammable, and radioactive materials and substances
• Traffic devices, which include radar detectors/jammers, license plate covers, traffic signal changers, and related products

Offensive goods: Promote intolerance or hatred.

• Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors
• Encourage or incite violent acts
• Promote intolerance or hatred

Offensive goods, crime which include crime scene photos or items, such as personal belongings, associated with criminals.

Alcoholwhich includes alcohol or alcoholic beverages such as beer, liquor, wine, or champagne. (Included in Infibeam Avenues List)

Child pornographywhich includes pornographic materials involving minors

Hacking and crackingMaterials which include manuals, how-to guides, information, or equipment enabling illegal access to software, servers, websites, or other protected property.

Illegal goods:Which include materials, products, or information promoting illegal goods or enabling illegal acts

Miracle cures:Which include unsubstantiated cures, remedies or other items marketed as quick health fixes

Medical Marijuana Dispensary:Seller of marijuana used for medicinal purposes

Regulated goods:Which include air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications

Multi-level Pyramid Selling:Multi-level marketing system which uses one or more of the following practices which may be considered deceptive:

• Participants pay money for the right to receive compensation for recruiting new participants;
• A participant is required to buy a specific quantity of products, other than at cost price for the purpose of advertising, before the participant is allowed to join the plan or advance within the plan;
• Participants are knowingly sold commercially unreasonable quantities of the product or products (this practice is called inventory loading)
• Participants are not allowed to return products on reasonable commercial terms
• Other Payment Service Providers (except to the extent the entity itself sells goods to which it has title): payments services providers(PSP), Other merchant aggregators.

Matrix sites:Matrix sites or sites using a matrix scheme approach

Work-from-home:Work-from-home/earn online.

Drop-shipped merchandise

Bureau de Change Establishments:Ability for card members to purchase Foreign Exchange currency

Cheque Cashing / Guarantee:Card member (Merchant) can transact cheque for cash using American Express as a check guarantee card.

Condo (Real Estate) Down Payments:Payments to other debt related real estate products

Debt Collection:Collection Agencies, Factoring Companies, Liquidators, Bailiffs, Credit Restoration Services and Bankruptcy Lawyers.

Door to Door Sales:Unsolicited vendors with immediate payment expected.

Investment on futures maturity/value of goods: Investment made on futures maturity of goods/Services with an intention of gaining return on investment. (E.g. stock market, wine future, horse breeding, or timber investment).

Leasing Merchants:Payments to other debt related real estate products. Leasing Merchants (US)

Mortgage Payments:Payments to other debt related real estate products, Mortgage Payments (US).

Political Parties:Donations

Telecommunications Services:Including wireless, cable, satellite, wire line, ISP, Calling Cards, Long Distance Phone/Card reader, Airplane Telephones, Cellular Products/Services.

Mobile point of sale:Electronic point of sale terminal.

Unregulated Charities:Merchant that does not have a Tax exemption or local council registration number.

Card member Activated Terminals:Road Tolls, Car Parking Lots and Garages, Petrol Pumps, Cinema Kiosks, Railway Self-Service Ticketing.

Internet Auctions:Any form of auctioning carried out on the Internet (excluding North America region).

Internet Electronic Delivery:Merchants (including E-tickets that are redeemable in person) and Internet Electronic Services.

Night Club:Related (e.g. Night Club Hostess, Night Club Lounges, Disco, or Gentlemen's Club).

Premium Rate Telephone Services: all 1-900 lines.

Timeshares:The selling of part ownership of a property for use as a holiday home, whereby a card member can buy the right to use the property for the same fixed period annually.

PC support services:Providing diagnostic, troubleshooting, maintenance and repair services to a computer or similar device.

Franchisee Services:A party (franchisee) acquired to allow them to have access to a business's (the franchiser) proprietary knowledge, processes, and trademarks in order to allow the party to sell a product or provide a service under the business's name.

Any product or service:Which is not in compliance with all applicable laws and regulations whether federal, state, local or international including the laws of India.

Mixed Businesses:If any Merchant is found to be availing Rechargekit Fintech's service for the above mentioned business types without Infibeam Avenues' written approval then the Merchant will be subject to appropriate proceedings and, services of Infibeam Avenues to Merchant will be terminated on immediate basis.

*Rechargekit Fintech Private Limited reserves all rights to approve or disapprove any merchant at its sole discretion.

Managing your Rechargekit Fintech Private Limited Account

What is a Chargeback? What is Rechargekit Fintech's chargeback policy?

A refund that is forced by the Card company, as requested or disputed by the cardholder is known as chargeback. Chargebacks usually occur due to fraudulent activity on the card (real or perceived) or due to the customer disputes with respect to faulty products or services or from other authorization issues.

As per the Card Network companies' rules, any online transaction can/may also be revoked or refuted by a customer to a Sub-Merchant via his card-issuing bank for the following reasons. This is normally allowable for up to 6 months from date of the transaction. However, in some cases, this period may extend even beyond 6 months depending on the policies of certain banks.

Chargeback Process:
Chargeback can be raised by the cardholder/s on any of the mentioned reasons in the list of chargeback reasons and documentation. Merchants have to represent the case within 5 days of the date of transaction with signed proof of delivery (Mandatory)/customer acceptance mail/merchant explanation letter, etc. to defend the chargeback. Also, as per Visa/Mastercard rules, merchants have to preserve the proof of delivery at least for a year to deal with the chargeback/dispute.

• The customer raises a chargeback by contacting his/her card issuing bank.
• The card issuing bank forwards the chargeback request to the concerned acquiring bank.
• The acquiring bank checks from which payment gateway the disputed transaction is performed, and then they forward the customer's chargeback request to Rechargekit Fintech.
• Rechargekit Fintech Private Limited checks the identity of the sub-merchant and informs them that their customer has raised a chargeback for the selected reason.
• Once the chargeback intimation is received from the Rechargekit Fintech Private Limited chargeback team, the merchant has to share the delivery proof with Rechargekit Fintech Private Limited OR if the product is not delivered to the card member then the merchant has to accept the chargeback and need to inform Rechargekit Fintech Private Limited within 5 days from the date of chargeback mail so Rechargekit Fintech Private Limited can forward supporting documents provided by the sub-merchant to the acquiring bank The sub-merchant can directly call/send mail to the customer who has raised a chargeback to understand the actual reason of chargeback If the card member recognized the transaction and is willing to withdraw the chargeback then the merchant has to collect chargeback withdrawal mail from the customer So, the same mail will be forwarded to the bank which will help the sub-merchant to close the chargeback on priority
• Rechargekit Fintech Private Limited has to forward the invoice copy with supporting documents provided by the merchant to the acquiring bank within TAT.
• Acquiring bank forwards the same details to the customer's card issuing bank. The customer's bank reviews the documents carefully and takes the decisions accordingly.
• If the documents are sufficient to decline the customer's claim then the card issuing bank closes the chargeback in the merchant's favor and re-bills the card member. OR, if the requested documents are not submitted within stipulated timeframe then bank may close the chargeback in the customer's favor with a permanent debit to the sub-merchant.

Pre-arb/Second chargeback is raised by the customer within 45-50 days of the chargeback represented. Resolution on chargeback case arrives within 75-120 days of the date of chargeback, which may not be lesser than the mentioned time but gets extended to 120-180 days in rare crucial cases. Additional documents like customer authorization letter/mail, customer acceptance letter are requested by the bank if the provided documents do not suffice their requirements or are insufficient.

Chargeback received will reflect as "Dispute" in the Rechargekit Fintech Private Limited platform, which when represented and declared in Merchant Favor within the stated timeline will reflect as "Closed", and if lost due to no representment or acceptance by the merchant, it will reflect as "Chargeback" that is permanent debit of the chargeback amount, which cannot be retained/reversed.

Additionally, it is mandatory to build an "I Accept policy" on the Checkout page of the Merchant website and this policy should cover all the Terms & Conditions and Refund & Cancellation policies of the services/products being purchased. It should be built in such a way that after scroll down on the small screen of this policy, the "TICK" option should work. This is required to prevent chargebacks for reasons including - credit is due/defective goods/goods not as described/service not rendered. This policy is a mandatory requirement of the Associations (Visa/Mastercard).

Reasons for Chargeback:

• According to the customer, he/she paid by other means
• This is copy request received from acquiring bank
• According to the customer, he/she has not received the service ordered
• According to the customer, he/she did not engage in this transaction, did not purchase anything via Rechargekit Fintech, and did not authorize this transaction
• Refunded Order
• According to the customer, the merchandise received were either defective, damaged, or not as advertised
• According to the customer, he/she has not received the merchandise ordered
• According to the customer, the transaction amount differs
• Cancelled Order
• According to the customer, he/she is not in possession of the card
• According to the customer, they returned the merchandise, or that you agreed to issue a refund on this order
• This is a fraud investigation received from acquiring bank
• According to the customer, he/she has been charged multiple charges for order nos.
• Incorrect Currency or Transaction Code or Domestic Transaction Processing Violation

Reason of Chargeback: Documents required for chargeback by reason are as follows:

REASONS OF CHARGEBACK	DOCUMENTS REQUIRED
Credit Not Processed/Refund is Due	Transaction receipt, ME Letter, Terms & Conditions of transaction/Policy of cancellation
Duplicate Processing	Transaction receipt & Invoice/Proof Of Delivery (POD) for both cases
Transaction Not Recognized/No Authorization	Transaction receipt & Invoice/Bill copy, Customer acceptance mail/authorization letter/Transaction receipt signed by cardholder
Retrieval Request	Invoice copy and POD, Customer acceptance mail
Not As Described Or Defective Merchandise	Transaction receipt copy, Invoice/Bill, POD and ME explanation letter, Terms & Conditions of transaction/Policy of cancellation, Product features
Services Not Provided Or Merchandise Not Received	Transaction receipt, Invoice/Bill copy, Signed POD, Proof of receipt

• Credit Not Processed/Refund is Due
• Documents required: Transaction receipt, ME Letter, Terms & Conditions of transaction/Policy of cancellation

• Duplicate Processing:
• Documents required:Transaction receipt & Invoice/Proof Of Delivery (POD) for both cases

• Transaction Not Recognized/No Authorization:
• Documents required:Transaction receipt & Invoice/Bill copy, Customer acceptance mail/authorization letter/Transaction receipt signed by cardholder

• Retrieval Request:
• Documents required:Invoice copy and POD, Customer acceptance mail

• Not As Described Or Defective Merchandise:
• Documents required:Transaction receipt copy, Invoice/Bill, POD and ME explanation letter, Terms & Conditions of transaction/Policy of cancellation, Product features

• Services Not Provided Or Merchandise Not Received:
• Documents required:Transaction receipt, Invoice/Bill copy, Signed POD, Proof of receipt

How to control chargeback from the merchants' end:
The merchant has to deliver the goods or services as promised to the consumer.

For any reason, if a merchant is unable to deliver the services, then he/she has to refund the transaction using our MCPG panel. Merchant has 90 days to refund the transaction from the date of the transaction.

As per the merchant's service profile, they need to set velocity check to avoid fraudulent transactions.

If any order is marked as high risk by risk management team and customer is not known to the merchant, then merchant has to follow the manual authorization process instead of taking the responsibility on highly suspicious transactions.

Merchant has to offer either chat support or email communication on their website. This allows customers to request information from merchants regarding their queries instead of directly contacting their card-issuing bank for raising a chargeback.

Suggested Risk/Precautionary Measures:
1. "I accept the transaction policy" statement on 'Merchant/s' payment page, as recommended by Visa/Mastercard.
2. Preserving proof of deliveries for one year as per rules by Visa/Mastercard.
3. Cancellation on fraud orders within 48 hours of the transaction time to prevent the fraud to transaction ratio as per rules by Visa/Mastercard.

Rechargekit Fintech's payment gateway service have state-of-the-art fraud screening capabilities to reduce risks.

However, if any chargeback is reported by the cardholder, you (sub-merchant) will be liable to pay the amount back to Rechargekit Fintech Private Limited or it will be adjusted with the current balance of your account with Rechargekit Fintech. You will be liable to refund the disputed amount to Rechargekit Fintech/cardholder. Please note that this practice is universal and is followed by all payment gateway service providers world over. Rechargekit Fintech Private Limited also has an in-house team, which screens all the transactions. Please see the section on fraud reduction tips for more information.

The chargeback disputes are normally less than 0.01% of the total transactions in a year.
Basic Documents required from submerchant :
a)Sub-Merchant should keep complete proof of goods being shipped. This could be in the form of a Courier consignment note or signed receipt from the final consignee (POD).
b) The Sub-Merchant can prove that the customer was informed in advance about refunds/return of goods/replacement of faulty goods.

A CHARGEBACK CAN ONLY BE REVERSED IF THE CARDHOLDER FORMALLY INFORMS HIS/HER BANK OR CARD ISSUING INSTITUTION THAT HE/SHE WILL ACCEPT THE DISPUTED CHARGE.

What are Rechargekit refund and end-customer dispute policies?

Rechargekit Fintech Private Limited maintains a customer-friendly refund policy. This keeps our administrative costs under control in two ways: First, it reduces the amount of time spent researching customer inquiries; and secondly, it reduces the occurrence of chargeback disputes. (A chargeback dispute is a refund that is forced by the customer's Credit Card company.)

Granting Refund to customer:-
In most situations when a customer asks for a refund, we want to try our best to grant that refund. Here are some guidelines on our refund and dispute policies:

The Seller sets a time limit: The sub-merchant is required to set the refund time limit on his/her site depending on the goods sold on his/her site. If a customer is dissatisfied with a product that he/she has ordered, the client should accept the product back and grant a refund. If desired, a client may specify that shipping charges are not refundable; however we would prefer to refund the shipping charges as well.

 

 

Taxes

I received a letter from Rechargekit Fintech Private Limited regarding 18% GST? What is this?

The Ministry of Finance, Government of India, has levied a Goods & Services Tax of 18% on the value of taxable goods & services. As a result, the service tax of 15% (inclusive of 0.5% Swachh Bharat Cess + 0.5% Krishi Kalyan Cess) will be replaced with a GST of 18% on the Setup Fee, ASUC and TDR charged by Rechargekit Fintech. The GST thus collected will be deposited with the government and we will include this amount on the payout statements and invoices issued to you.

 

Why are you charging this to me and not absorbing it yourself?

This tax has been levied by the government. As part of our services, Rechargekit Fintech Private Limited will be deducting the charge from the amount payable to you and depositing it with the government.

 

Maintaining your rechargkit Account

How can I check the amount payable to me by Rechargekit Fintech?

To confirm your current balance payable, log in to your b2bagent.rechargkit.biz account by using your user name and password. You can check the amount payable to you on the screen.

 

Do I have to maintain any minimum balance in my rechargkit Account?

Yes, just as you are required to maintain a minimum amount in your online b2bagent.rechargkit.biz Account.

 

How often will I receive my payouts?

Rechargekit Fintech Private Limited settles payments on a daily basis or as per the terms in your agreement. Rechargekit Fintech will remit all amounts over & above of Rs. 1000/- according to our agreed payment basis.

What is the procedure to change my business filing status or Legal Entity Name and Promoter Details?

Please send a request to: info@rechargkitmail.com along with the documents as per your changed business filing status 

What is the procedure to change my registered website URL/services?

Please send a request to: info@rechargkitmail.com along with the 'Change URL Letter' on your company letter head signed and stamped by the Authorized Signatory.

 

Is it possible to change my bank account details while retaining the same Pay to name mentioned in the existing agreement?

Yes. Please send a request to info@rechargkitmail.com along with the 'Change Bank Details Letter' on your company letter head signed and stamped by the Authorized Signatory along with a cancelled cheque.

 

For any other queries with regards to the documentation and account updation, please send a request to info@rechargkitmail.com along with the details to be changed. The additional procedures/ requirements, if any will be intimated to you. Please quote your website URL while communicating with us, to help us serve you better.