Settlement Policy
Effective Date: 1st January 2025 | Last Updated: 20th April 2026
This Settlement Policy governs the fund settlement process for all registered users of the Payonclick platform operated by VVN MULTISERVICES INDIA Pvt. Ltd., including Retailers, Distributors, Master Distributors, and Super Distributors. This policy is framed in accordance with applicable RBI guidelines and the Payment and Settlement Systems Act, 2007.
1. Definitions
- "Settlement" means the transfer of wallet balance from the User's Payonclick Wallet to their registered bank account.
- "Wallet Settlement" means the on-demand transfer of available wallet balance to the User's bank account.
- "T+0" means same day settlement; "T+1" means next business day settlement.
2. Eligibility for Settlement
To receive settlements, Users must:
- Have completed full KYC verification (Aadhaar, PAN, and bank account verification).
- Have an active and verified bank account linked to their Payonclick profile.
- The bank account must be in the same name as the registered Payonclick account holder.
- Have an active mobile number verified on the Platform.
- Have no pending disputes, investigations, or account restrictions.
3. Settlement Process
3.1 How to Initiate Settlement
- Log in to your Payonclick dashboard and navigate to Settlement section.
- Select Settlement to Bank option.
- Enter the desired amount (must meet the minimum settlement requirement).
- Select the settlement mode (IMPS / NEFT / RTGS).
- Confirm the request. The amount will be debited from your wallet and processed to your verified bank account.
3.2 Settlement Modes
| Mode | Processing Speed | Best For |
|---|---|---|
| IMPS | Instant (within minutes) | Amounts up to ₹2,00,000 |
| NEFT | Within 2 hours (batch processing) | Any amount, no per-txn charge |
| RTGS | Within 30 minutes | Large amounts (₹2,00,000+) |
4. Wallet Settlement (On-Demand)
Users can request settlement of their wallet balance to their registered bank account:
| Request Time | Settlement Processing | Expected Credit |
|---|---|---|
| Before 2:00 PM IST (Business Day) | Same Day (T+0) | Within 4-6 hours |
| After 2:00 PM IST (Business Day) | Next Business Day (T+1) | By 12:00 PM next day |
| Saturday / Sunday / Holiday | Next Business Day | By 12:00 PM next business day |
Processing times are indicative. Actual credit may vary depending on the beneficiary bank's processing speed.
5. Minimum Settlement Amount
| User Type | Minimum Settlement Amount |
|---|---|
| Retailer | ₹500 |
| Distributor | ₹1,000 |
| Master Distributor | ₹2,000 |
| Super Distributor | ₹5,000 |
Settlement requests below the minimum amount will not be processed. Users must accumulate the minimum balance before requesting settlement.
6. Maximum Settlement Limits
| Settlement Mode | Per Transaction Limit | Per Day Limit |
|---|---|---|
| IMPS | ₹2,00,000 | ₹5,00,000 |
| NEFT | No limit | As per bank policy |
| RTGS | ₹2,00,000 (minimum) | As per bank policy |
7. Settlement Charges
| Settlement Mode | Charges |
|---|---|
| IMPS (up to ₹2,00,000) | ₹5 per transaction |
| NEFT | Free |
| RTGS (₹2,00,000 and above) | ₹15 per transaction |
Settlement charges are deducted from the settlement amount at the time of processing. The Company reserves the right to revise settlement charges with prior notice.
8. Tax Deductions
As per applicable tax laws of India:
- TDS as applicable under the Income Tax Act, 1961 will be deducted at source on eligible payouts.
- TDS @ 20% if PAN is not provided or is invalid (as per Section 206AA).
- GST as applicable on service charges will be reflected in tax invoices.
- TDS certificates (Form 16A) will be made available for download from the dashboard after each quarter.
9. Settlement Failures & Resolution
9.1 Common Reasons for Settlement Failure
- Incorrect or mismatched bank account details (account number, IFSC).
- Bank account is inactive, dormant, frozen, or closed.
- Account holder name mismatch between Payonclick profile and bank records.
- Beneficiary bank system downtime or maintenance.
- RBI/bank-imposed transaction limits exceeded.
9.2 Resolution Process
- In case of settlement failure, the amount will be credited back to the User's Payonclick Wallet within 24 hours.
- The User will be notified via SMS, email, and dashboard notification with the reason for failure.
- The User should verify and update their bank details on the dashboard and re-initiate the settlement request.
- If the issue persists, raise a support ticket with the settlement reference number for investigation.
9.3 If Amount is Debited but Not Credited to Bank
- Check the settlement status on the dashboard. If it shows "Pending", please wait for the processing timeline to complete.
- If it shows "Success" but the amount is not reflected in your bank account, verify with your bank using the UTR number (available on the dashboard).
- If the bank confirms non-receipt, raise a support ticket and we will initiate a trace with the remitting bank.
- Resolution timeline: Within T+3 Business Days from the date of complaint.
10. Bank Account Management
- Users can add or update their bank account details from the Profile > Bank Details section.
- Bank account changes require re-verification via penny-drop (₹1 credit verification) or bank statement upload.
- For security purposes, settlements are only processed to verified bank accounts.
- A cooling period of 24 hours applies after changing bank account details before a new settlement can be initiated.
- Only one primary bank account can be active for settlements at a time.
11. Deductions & Adjustments
The Company reserves the right to deduct the following from settlement amounts:
- Outstanding service charges, fees, or penalties.
- Chargeback amounts from disputed transactions.
- Amounts related to fraudulent or unauthorized transactions.
- TDS and other applicable taxes.
- Any overpayment or erroneous credit.
Users will be notified of any deductions via email and dashboard notification with a detailed breakdown.
12. Settlement on Account Closure
- Upon account closure (voluntary or involuntary), the final settlement will be processed after:
- Completion of all pending transactions.
- Resolution of all open disputes and chargebacks.
- Deduction of any outstanding amounts owed to the Company.
- Final settlement will be processed within 30 Business Days from the date all conditions are met.
- If the remaining balance after deductions is below the minimum settlement amount, the Company will still process the settlement without minimum balance restrictions.
13. Anti-Money Laundering (AML) Provisions
- All settlements are subject to AML screening as per the Prevention of Money Laundering Act, 2002.
- Unusual or suspicious settlement patterns may trigger additional verification requirements.
- The Company reserves the right to hold or delay settlements pending investigation of suspicious activity.
- Suspicious transactions will be reported to the Financial Intelligence Unit - India (FIU-IND) as required by law.
14. Force Majeure
Settlement timelines may be impacted by events beyond our reasonable control including but not limited to natural disasters, pandemics, bank strikes, RBI/government directives, internet/network outages, or cyber-attacks. In such events, we will resume normal processing as soon as reasonably practicable and communicate any delays via the Platform.
15. Contact for Settlement Queries
VVN MULTISERVICES INDIA Pvt. Ltd.
Email: contactus@payonclick.in
Phone: +91 9992688080
WhatsApp: +91 9992799127
Support Portal: payonclick.in > Dashboard > Support
16. Amendments
This Settlement Policy may be amended from time to time at the sole discretion of the Company. Changes will be published on the Platform and notified to Users via dashboard notification, email, or SMS. Continued use of the Platform after amendments constitutes acceptance of the revised policy.