Terms of Service
Last Updated: June 16, 2026
1. Agreement & Acceptance
These Terms of Service constitute a legal agreement between you and HINDUSTAN MFG (having GSTIN: 27BZWPK3501Q1ZM, operating under the trade name "PayCred", hereinafter referred to as "we", "us", or "our") governing your access to and use of our web application.
By signing up with your mobile number, executing payment transactions, or utilizing our services, you confirm that you have read, understood, and agreed to be bound by these Terms of Service. If you do not agree, you must terminate use immediately.
2. Description of Service
PayCred is an online technology platform that enables verified users to pay their monthly house fee to landlords or education tuition fees directly to institutions using credit cards. PayCred is not a payment aggregator or bank — we are a utility service that leverages licensed payment gateway partners to facilitate these transactions.
All customer funds collected via our licensed payment gateway partner are routed through designated escrow/nodal bank accounts before settling to the beneficiary's registered bank account. PayCred acts strictly as an intermediary technology layer connecting the payer with their beneficiary through authorized banking and payment infrastructure.
3. Strict Prohibitions & Anti-Abuse Rules
Compliance Notice: Self-Payment Restrictions
To comply with card network rules and Anti-Money Laundering (AML) directives, using our platform to perform credit card cash-outs (transferring money from your credit card into bank accounts owned or controlled by you) is strictly prohibited.
- You cannot pay yourself or register payee/beneficiary accounts matching your own identity.
- Payer PAN and Beneficiary identities are validated in the background. If a name collision or self-transfer is detected, the transaction will be blocked instantly.
- Repeated compliance violations will trigger a permanent lock on your account and report the transaction status to bank partners.
4. Fees, Settlement, & Payout Speeds
Using credit cards incurs service charges, which are clearly shown prior to confirming any transfer. All convenience/processing fees are subject to 18% Goods and Services Tax (GST) as per government mandates:
- Quick Transfer: Charged at a base fee rate of 1.8%. Processing and settlement to the beneficiary's account is completed within 3 hours.
- Lazy Transfer: Charged at a base fee rate of 1.5%. Settlement is processed on the next business day (excluding bank holidays and weekends).
- Slow Transfer: Charged at a base fee rate of 1.2%. Settlement is processed on the second business day (excluding bank holidays and weekends).
- Premium/Corporate Cards: Visa/Mastercard Premium, Commercial, or Corporate credit cards incur an additional surcharge of +1.0% on top of the selected speed fee rate.
5. Account Registration & KYC
To initiate payments above baseline limits, users must complete their Know Your Customer (KYC) onboarding. This requires submitting a valid PAN number and completing Aadhaar OTP validation. By inputting details, you represent that all information belongs to you and is accurate.
6. Governing Law & Jurisdiction
These Terms of Service are governed by and construed in accordance with the laws of the Republic of India. Any legal disputes or claims arising out of the use of our services will be subject to the exclusive jurisdiction of the competent courts in Mumbai, Maharashtra, India.
7. Customer Grievance Redressal Policy
In compliance with the Reserve Bank of India (RBI) guidelines for online payment aggregators, PayCred has established a structured grievance redressal policy to address customer queries, failed payouts, and disputes:
Grievance Escalation Matrix:
- Level 1 (Support Desk): Contact our automated help panel or email support@paycred.tech for real-time tracking, standard NEFT checks, or initial queries.
- Level 2 (Compliance & Nodal Officer): If Level 1 support does not satisfy your query within 3 business days, you can escalate to our Nodal Officer:
Name: Compliance Officer, HINDUSTAN MFG
Email: support@paycred.tech
Phone: +91 83560 14390
Address: HINDUSTAN MFG, Devi Dayal Compound, Kanjurmarg East, Mumbai, Maharashtra - 400042
- Level 3 (RBI Ombudsman): If your query is not resolved or remains unaddressed after 30 days, you can register a complaint under the RBI Integrated Ombudsman Scheme.
Disposal Timelines:
- Complaint acknowledgement email/ticket: Within 24 to 48 hours.
- Complete resolution & dispute closure: Within 15 business days.
8. Consent & User Acknowledgment
By using PayCred's services and submitting a payment, you explicitly acknowledge and confirm:
- The payment you are making is for a genuine fee obligation or education fee owed to a third-party beneficiary.
- You are not using the platform for credit card cash advances, self-transfers, or circular payment schemes.
- The beneficiary bank account details you have provided belong to your actual beneficiary or educational institution, and not to yourself or related parties.
- You understand that violating these terms may result in immediate account suspension and reporting to regulatory authorities.
9. Payment Gateway Partner Disclosure
PayCred does not directly process credit card transactions or store any card data. All payment processing is handled by our licensed payment gateway partner(s) who hold valid PCI-DSS certification and RBI authorization.
Card details entered during checkout are captured exclusively within the secure environment of the payment gateway partner's PCI-compliant payment page. PayCred's servers never receive, process, or store raw card numbers, CVV codes, or card PINs.
In compliance with the RBI's Card-on-File Tokenisation (CoFT) mandate, any saved card functionality uses secure network tokens issued by the card network — raw card details are never retained by PayCred or the gateway partner.