CCavenue Sub Merchant Agreement: An Overview
CCavenue is a leading payment gateway provider in India that offers a wide range of payment solutions to businesses of all sizes. It enables merchants to accept payments through various channels, including websites, mobile apps, IVR, and POS terminals.
A sub-merchant is an entity that receives payments on behalf of the merchant. It is typically used by businesses that want to accept payments but do not want to go through the hassle of setting up a merchant account. A sub-merchant agreement is a legal contract between the merchant and the sub-merchant that outlines the terms and conditions of the payment processing service.
CCavenue offers a sub-merchant agreement to businesses that want to accept payments through its payment gateway. The agreement covers the following aspects:
1. Payment Processing Fees
The sub-merchant agreement specifies the payment processing fees charged by CCavenue for each transaction. The fees may vary depending on the type of payment gateway used and the type of transaction (credit card, debit card, net banking, etc.). The sub-merchant is typically required to pay a percentage of the transaction amount as processing fees.
2. Payouts
The sub-merchant agreement also covers the payout schedule for the sub-merchant. CCavenue typically releases payments to the sub-merchant on a weekly or fortnightly basis, depending on the sub-merchant`s preference. The agreement outlines the details of the payout schedule, including the minimum payout amount and the mode of payment.
3. Refunds and Chargebacks
The sub-merchant agreement also specifies the conditions under which refunds and chargebacks are processed. CCavenue typically provides a window for refunds and chargebacks, after which it becomes difficult to process them. The sub-merchant agreement should clearly define the refund and chargeback policies to avoid any disputes in the future.
4. Security and Fraud Prevention
CCavenue takes security and fraud prevention very seriously and uses various measures to ensure the safety of transactions. The sub-merchant agreement outlines the security protocols and fraud prevention measures used by CCavenue and specifies the responsibilities of the sub-merchant in ensuring the safety of transactions.
5. Compliance with Regulatory Requirements
The sub-merchant agreement ensures that the sub-merchant is compliant with all regulatory requirements related to payment processing. CCavenue follows the guidelines laid down by the Reserve Bank of India (RBI) and other regulatory bodies and expects its sub-merchants to do the same.
Conclusion
A sub-merchant agreement is a crucial aspect of payment processing for businesses that want to accept payments online. CCavenue`s sub-merchant agreement provides a comprehensive framework for payment processing that covers all aspects of the transaction. It is important for businesses to carefully review and understand the terms and conditions of the agreement before signing it, to avoid any disputes or legal issues in the future.