We are among the largest payment gateway
solution service providers in India.
Indian Financial System Code is an 11-character code assigned to all banks conducting electronic payments. The first four represent the bank, the fifth is a default 0, which acts as a placeholder, and the last six represent the branch of that bank. The IFSC code eases transfer of funds as well as routing of messages to the destination bank branches.
Merchant Information System is a facility where the merchant can login to access details of the account he holds with the payment gateway. One can view all transactions, their statuses, order numbers, gateway types etc. Merchant can also get detailed reports of the amount which is settled on T+2.
Real Time Gross Settlement, contrary to NEFT, facilitates instant settlement of funds and is managed by the Reserve Bank of India (RBI). There is no bunching of transactions and hence there is no waiting period in RTGS.
Yet, this system can only be used for amounts of more than Rs. 1,00,000.
When a chargeback is raised by a customer's issuing bank, we request for Proof of Delivery/Service from the merchant for that particular transaction. This proof is forwarded to our acquiring bank, which then sends it to the customer's bank (issuing bank). If the issuing bank accepts this Proof of Delivery, and if there is any debit already posted to merchants account then the debited amount will be refunded to the merchant account within 75 days of the chargeback.