Credvue operates as an intermediary between its customers (“Merchants”) and end users (“Merchant’s customer”) (collectively “User”) by facilitating online transactions as a licensed Payment Aggregator. The Reserve Bank of India (“RBI”), vide notification dated 17/03/2020 bearing reference number RBI/DPSS/2019-20/174 DPSS.CO.PD. No. 1810/02/14/008/2019-2020 has issued guidelines for Payment Aggregators (“PA Guidelines”).
A “Grievance” means any concern, dispute, complaint or feedback that a User desires to provide to Credvue in relation to the services delivered owing to deficiency in the quality of services rendered.
Our teams undergo regular training to ensure that User queries and Grievances are handled with sensitivity and resolved effectively.
A ‘Failed Transaction’ is a transaction which has not been fully completed due to any reason not attributable to the User.
| Sl. No. | Description of the Incident | Framework for Auto Reversal and Compensation | Timeline for Auto Reversal | Compensation Payable |
|---|---|---|---|---|
| 1a | Card to card transfer – Account debited but beneficiary card not credited | Reversal within T + 1 day | Within T + 1 day | Rs. 100 per day of delay |
| 1b | POS (Card Present) – Account debited but no confirmation at merchant | Auto reversal within T + 5 days | Within T + 5 days | Rs. 100 per day of delay |
| 1c | Card Not Present (e-commerce) – Account debited but no confirmation at merchant | Auto reversal within T + 5 days | Within T + 5 days | Rs. 100 per day of delay |
| 2a | IMPS: Account debited but beneficiary not credited | Auto reversal by beneficiary bank latest T + 1 day | Within T + 1 day | Rs. 100 per day of delay |
| 3a | UPI: Account debited but beneficiary not credited (transfer of funds) | Auto reversal by beneficiary bank latest T + 1 day | Within T + 1 day | Rs. 100 per day of delay |
| 3b | UPI: Account debited but no confirmation at merchant | Auto reversal within T + 5 days | Within T + 5 days | Rs. 100 per day of delay |
| 4a | NACH: Delay in credit or reversal | Reversal within T + 1 day | Within T + 1 day | Rs. 100 per day of delay |
| 4b | NACH: Debit despite revocation of mandate | Resolved by User’s bank within T + 1 day | Within T + 1 day | Rs. 100 per day of delay |
| 5a | AEPS: Account debited but no confirmation at merchant | Credit adjustment within T + 5 days | Within T + 5 days | Rs. 100 per day of delay |
| 6a | PPIs: Off-us transaction – Account debited but beneficiary not credited | System rule applies | As per system rule | As per system rule |
| 6b | PPIs: On-us transaction – Confirmation not received at merchant | Reversal within T + 1 day | Within T + 1 day | Rs. 100 per day of delay |
Modes: IMPS, UPI – facilitated through bank APIs
Payment Gateway: Amounts are settled on Tp+0 / Tp+1 basis with escrow account maintaining bank.
Merchants: Use chat icon in dashboard.
Customers: Email at info@credvue.in
Complaints acknowledged immediately and resolved within 3 working days, or periodic updates provided.
Contact Nodal Officer:
Mr. Arpit Kumar
LG-75 Ansal Fortune, Arcade K-Block, Noida, Noida, Gautam Buddha Nagar- 201301, Uttar Pradesh
Email-Id: Support@credvue.in
Escalations acknowledged within 24 hours and resolved within 3 working days. Updates will be shared if additional time is needed.
Contact Grievance Officer:
Mr. Prashant Prakash
LG-75 Ansal Fortune, Arcade K-Block, Noida, Noida, Gautam Buddha Nagar- 201301, Uttar Pradesh
Email-Id: Legal@credvue.in
Escalations acknowledged within 24 working hours and resolved within the next 3 working days. Updates will be shared periodically until resolution.
At Credvue, we focus on optimizing User experience. Our policies and processes are regularly updated based on feedback from Users to strengthen the grievance redressal system.