Service Delivery Policy

1. Nature of Service

PayCred, operated by HINDUSTAN MFG (GSTIN: 27BZWPK3501Q1ZM), is a digital payment utility — not a physical goods retailer. Our service enables verified users to transfer funds from their credit card to a beneficiary's (beneficiary or educational institution) bank account.

Since our product is a digital financial settlement service, the concept of “shipping” and “delivery” refers exclusively to the electronic transfer of funds and the generation of digital receipts — not physical goods.

2. What Constitutes “Delivery”

A service delivery is deemed complete when:

• Fund Settlement: The payment amount (net of processing fees) has been successfully credited to the beneficiary's bank account via NEFT/IMPS/RTGS through our escrow account at Bharat Co-op Bank.
• Transaction Status Update: The transaction status on your PayCred dashboard reflects SETTLED.
• Receipt Generation: A digitally signed tax receipt or payment confirmation is available for download from your profile dashboard.

3. Settlement Speed & Delivery Timelines

PayCred offers three settlement speed tiers. The delivery timeline begins after successful credit card authorization:

Note: Business days exclude Saturdays, Sundays, and national/bank holidays. Settlement timelines are indicative and may vary by 1–2 hours due to banking infrastructure delays beyond our control.

4. Digital Receipt & Document Delivery

• Payment Confirmation: Delivered instantly upon successful card authorization. Visible on your PayCred dashboard immediately.
• HRA-Compliant Fee Receipts: Generated within seconds after settlement is confirmed. Available as downloadable PDF from your profile dashboard. Includes beneficiary signature, verified PAN, and tax eligibility QR code.
• Transaction Invoices: GST tax invoices for convenience fees are generated and available for download from your transaction history.

5. Failed Delivery & Settlement Failures

In the event that a fund settlement cannot be completed, the following process is automatically initiated:

• Invalid Bank Details: If the beneficiary account number or IFSC code is incorrect, the payout will fail. The transaction status is updated to REFUNDED and the full billed amount (including processing fee) is reversed to your credit card.
• Bank Infrastructure Downtime: If NEFT/IMPS services are unavailable due to banking system maintenance, settlement is retried automatically during the next available window. No action is required from the user.
• Compliance Blocks: Transactions flagged under anti-fraud or AML rules are blocked and the charged amount is auto-reversed to the credit card.

6. Refund Timeline for Failed Deliveries

When a settlement fails and a refund is initiated:

• Refund is processed immediately from our end.
• Credit typically reflects on your card statement within 2 to 3 business days (depends on your issuing bank and card network).
• For detailed refund terms, please refer to our Cancellation & Refund Policy.

7. Service Availability

• Platform Availability: PayCred's web application is available 24 hours a day, 7 days a week.
• Payment Acceptance: Credit card payments can be initiated at any time. Card authorization is processed in real-time.
• Settlement Processing: IMPS settlements process around the clock. NEFT settlements process during RBI-defined banking hours (8:00 AM to 7:00 PM IST on business days).
• Scheduled Maintenance: Any planned maintenance windows will be communicated 24 hours in advance via the dashboard and email notifications.

8. Contact for Service Delivery Issues

If your payment settlement is delayed beyond the expected timeline, or if you have any queries regarding fund delivery: