1. Introduction

This Merchant Onboarding Policy ("Policy") outlines the procedures, requirements, and standards for onboarding merchants onto the EverSafePay payment gateway platform. This Policy is designed to ensure compliance with applicable laws and regulations, including guidelines issued by the Reserve Bank of India (RBI) for payment aggregators and payment gateways.

By applying to become an EverSafePay merchant, you acknowledge that you have read, understood, and agree to comply with this Policy, our Terms and Conditions, Privacy Policy, and other applicable policies.

2. Eligibility Criteria

To be eligible for onboarding as an EverSafePay merchant, applicants must meet the following criteria:

2.1 Business Types

We onboard the following types of businesses:

• Registered companies (Private Limited, Public Limited, LLP)
• Partnership firms
• Sole proprietorships
• Individuals and freelancers
• Non-profit organizations and NGOs
• Educational institutions
• Government entities

2.2 Business Requirements

• Must be a legally recognized entity under Indian law
• Must have a valid business model with legitimate products/services
• Must have an operational website/app (for businesses, exceptions for individuals/freelancers)
• Must comply with all applicable laws and regulations

2.3 Prohibited Businesses

We do not onboard businesses engaged in the following activities:

• Illegal activities or services
• Adult content and services
• Gambling, betting, or casino services
• Cryptocurrency trading or exchange
• Multi-level marketing or pyramid schemes
• Weapons, arms, and ammunition sales
• Drugs and narcotics
• Unregulated financial services
• Any business prohibited by Indian law or RBI guidelines

3. Onboarding Process

The merchant onboarding process consists of the following stages:

4. Document Requirements

The following documents are required based on business type:

4.1 For Private/Public Limited Companies and LLPs

4.2 For Partnership Firms and Sole Proprietorships

4.3 For Individuals and Freelancers

5. KYC and Due Diligence

EverSafePay follows a risk-based approach to KYC (Know Your Customer) and due diligence as mandated by RBI guidelines and the Prevention of Money Laundering Act (PMLA), 2002.

5.1 KYC Process

• Verification of identity and address of business and promoters
• Beneficial ownership identification
• Business activity verification
• Website/application review
• Bank account verification

5.2 Enhanced Due Diligence (EDD)

Enhanced due diligence is conducted for:

• High-risk business categories
• High transaction volume businesses
• Politically Exposed Persons (PEPs)
• Non-face-to-face customers
• Businesses with complex ownership structures

5.3 Ongoing Due Diligence

We conduct periodic reviews of merchant accounts based on risk categorization:

• Low risk: Every 5 years
• Medium risk: Every 3 years
• High risk: Every year

6. Risk Management

EverSafePay employs a comprehensive risk management framework to identify, assess, and mitigate risks associated with merchant onboarding and ongoing operations.

6.1 Risk Categorization

Merchants are categorized into three risk levels:

• Low Risk: Established businesses with clear ownership, low transaction volumes, and non-controversial products/services
• Medium Risk: New businesses, higher transaction volumes, or slightly elevated risk products/services
• High Risk: New industries, high transaction volumes, international operations, or historically high chargeback industries

6.2 Risk Mitigation Measures

Based on risk categorization, we may implement:

• Transaction monitoring and limits
• Reserve requirements
• Enhanced reporting
• More frequent settlements
• Additional security measures

6.3 Transaction Monitoring

We monitor transactions for suspicious activities including:

• Unusual transaction patterns
• High-value transactions
• Multiple failed transactions
• Potential money laundering activities
• Violations of terms of service

7. Fees and Pricing

Our fee structure is transparent and based on the services availed. Key aspects include:

7.1 Setup Fees

• No setup fees for standard onboarding
• Custom integration may involve additional charges

7.2 Transaction Fees

• Based on payment method (UPI, cards, net banking, etc.)
• Volume-based discounts available
• Detailed pricing available on our Pricing page

7.3 Other Charges

• Chargeback fees as applicable
• International transaction fees (if applicable)
• Additional service charges for value-added services

8. Settlement Process

Our settlement process is designed to be transparent and efficient:

8.1 Settlement Cycle

• Standard settlement: T+1 working days
• Instant settlement: Available for eligible merchants with nominal fees
• First settlement may have additional verification

8.2 Settlement Account

• Settlements are made only to verified bank accounts
• Account must be in the name of the merchant business
• Third-party settlements are not permitted without prior approval

8.3 Settlement Reports

• Detailed settlement reports available in merchant dashboard
• GST-compliant invoices generated automatically
• Real-time transaction tracking

9. Merchant Responsibilities

Onboarded merchants are required to:

• Comply with all applicable laws and regulations
• Maintain accurate and updated business information
• Notify us of any changes in business details, ownership, or bank account
• Implement appropriate security measures on their website/app
• Display refund and return policies clearly to customers
• Handle customer disputes and complaints promptly
• Cooperate with investigations and provide information when requested
• Maintain records as required by law

10. Termination of Services

EverSafePay reserves the right to terminate merchant services under the following circumstances:

• Violation of terms and conditions
• Engagement in prohibited activities
• Failure to comply with legal or regulatory requirements
• Provision of false or misleading information
• High chargeback ratios or fraudulent activities
• Insolvency or cessation of business operations

Upon termination, any outstanding settlements will be processed after deducting applicable charges and resolving any pending disputes or chargebacks.

11. Policy Review and Updates

This Merchant Onboarding Policy is reviewed annually or as needed to incorporate changes in regulatory requirements and business processes. Merchants will be notified of significant changes through email or dashboard notifications.

12. Contact Information

For questions related to merchant onboarding, please contact:

For compliance-related queries, please contact our Compliance Officer at support@eversafepay.com