Payment Policy

Effective Date: 01-05-2018
Last Updated: 14-06-2025

Peneu Technologies Pvt. Ltd. (“Peneu,” “we,” “us,” or “our”) provides a secure, seamless payments infrastructure for merchants building online stores on our platform. This Payment Policy explains the payment methods we support, processing rules, security measures, fees, and dispute procedures. As a service provider, Peneu does not collect or hold customer funds—payments are processed directly between your customers and your chosen payment gateway.

1. Scope

This policy applies to:

• Merchants who subscribe to Peneu’s services and integrate payment methods into their stores.

• Customers who make purchases through stores powered by Peneu.

2. Supported Payment Methods

Merchants may enable one or more of the following payment options for their customers:

Merchants are responsible for selecting, configuring, and maintaining their payment providers. Peneu provides integrations with 47+ domestic and international gateways (e.g., Razorpay, PayU, Stripe, PayPal), each governed by its own terms of service.

3. Payment Processing & Settlement

1. Authorization & Capture

   • For card and UPI transactions, funds are authorized at checkout and captured by the gateway upon confirmation.

   • Merchants can choose deferred capture (manual capture within a stipulated timeframe) if supported by their gateway.

2. Settlement Period

   • Settlement cycles vary by gateway: typically T+1 to T+3 business days.

   • Funds are disbursed directly to the merchant’s bank account.

3. Reconciliation

   • Peneu provides transaction reports and reconciliation tools in the merchant dashboard.

   • Merchants should reconcile payments against bank statements and order records regularly.

4. Payment Security

1. PCI‑DSS Compliance

   • Peneu’s integrations use PCI‑DSS–compliant payment gateways; no card data is stored on Peneu servers.

   • Merchants must ensure individual compliance if storing any payment data.

2. Encryption & TLS

   • All payment pages are served over HTTPS with TLS 1.2+ encryption.

   • Sensitive data (e.g., card numbers) is tokenized by the gateway.

3. Fraud Prevention

   • Premium plans include basic fraud screening (velocity checks, AVS, CVV verification).

   • Merchants can enable advanced anti‑fraud modules (3D Secure, device fingerprinting) via their gateway.

5. Transaction Fees & Charges

1. Gateway Fees

   • Transaction fee percentages and fixed charges are set by each gateway.

   • Merchants bear all gateway fees unless otherwise agreed.

2. Peneu Platform Fees

   • Subscription plans may include a nominal transaction fee (e.g., 0–2%) on successful orders.

   • No hidden charges: all applicable fees are disclosed upfront in your dashboard and billing statements.

3. Refund Charges

   • Some gateways levy non‑refundable processing fees on refunded transactions.

   • These fees are charged by the gateway and passed to the merchant unless absorbed under a specific promotion.

6. Refunds, Voids & Chargebacks

1. Refunds

   • Merchants initiate refunds via the Peneu dashboard or directly through the gateway console.

   • Refunds return funds to the original payment method; processing times depend on the gateway (3–10 business days).

2. Voids

   • If an order is cancelled before capture, merchants can void the transaction to prevent settlement.

   • Voids must be performed within the gateway’s allowable timeframe (typically same day).

3. Chargeback Management

   • Customers may dispute transactions through their bank—this triggers a chargeback.

   • Peneu provides chargeback notifications and documentation support.

   • Merchants are responsible for responding to and resolving chargebacks per the gateway’s dispute process.

7. Failed or Stuck Transactions

• Declines & Errors:

  • Declines due to insufficient funds, network issues, or incorrect details must be retried by the customer.

  • Merchants should display clear error messages and alternative payment options.

• Stuck Payments:

  • Transactions pending for more than 24 hours should be reviewed; merchants can void or retry the capture.

  • Contact Peneu support at [email protected] if systemic issues occur.

8. Compliance & Regulatory Obligations

1. KYC & AML

   • Merchants must complete KYC and AML verification to access payouts.

   • Non‑compliance may result in payout holds.

2. GST & Tax Reporting

   • Peneu’s billing module generates tax‑compliant invoices; merchants remain responsible for accurate filings.

   • Payment gateway settlements exclude GST – keep separate records.

3. Payment Data Retention

   • No sensitive payment data (card PAN, CVV) is stored by Peneu.

   • Merchant compliance with local data‑protection laws (DPDP Act 2023, IT Rules 2011) is mandatory.

9. Dispute Resolution

• Customer Disputes:

  • Direct customers to merchant support for payment or order queries.

  • Escalate unresolved issues to Peneu at [email protected]; we will mediate but cannot enforce refunds.

• Inter‑Merchant Billing Disputes:

  • If a merchant queries platform fees or billing errors, contact [email protected] within 30 days of invoice date.

10. Policy Updates

We may revise this Payment Policy to reflect changes in technology, regulations, or business practices. Updates will be posted on our website, and the “Last Updated” date will be revised accordingly. Continued use of the Peneu platform implies acceptance of the updated policy.

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