At OwlX Fintech Solutions Pvt Ltd, we are committed to providing transparent, competitive, and fair pricing for all of our financial services. Our Fair Pricing Policy is designed to ensure that our customers understand the costs associated with using our services and to maintain trust and transparency in our pricing structure.
1. Purpose
The purpose of this policy is to establish clear guidelines for the pricing of our fintech services, ensuring that all merchants and customers receive equitable and fair treatment. It outlines the key factors involved in determining our pricing and how we ensure that our fees reflect the value of the services we provide.
2. Scope
This policy applies to all services offered by OwlX Fintech Solutions Pvt Ltd, including payment processing, payin and payout solutions, merchant services, and other financial products. The policy covers pricing, fees, and any associated charges for all customers and merchants using the OwlX Fintech platform.
3. Principles of Fair Pricing
- Transparency: We are committed to providing full transparency regarding the pricing of our services. All fees, including transaction fees, subscription fees, and any additional charges, will be clearly communicated to customers and merchants before they use our services.
- Competitiveness: OwlX Fintech strives to offer competitive pricing in line with industry standards, ensuring that our customers receive high-quality services at fair and reasonable rates.
- No Hidden Fees: There are no hidden charges in our pricing model. All fees, including processing fees, penalties, and service charges, are disclosed upfront and documented in our contracts, ensuring that customers are fully aware of the costs associated with our services.
- Value for Money: Our pricing is designed to reflect the value of the services we provide, including security, reliability, and customer support. We continually review our pricing structure to ensure that it remains fair and proportional to the benefits our customers receive.
4. Pricing Structure
4.1 Transaction Fees
- Domestic Payments: For domestic transactions, a flat or percentage-based fee is charged based on the payment method (e.g., credit/debit cards, UPI, net banking).
- International Payments: For cross-border transactions, the fee includes currency conversion and additional costs associated with international transfers. The exact fee will be communicated to the customer at the time of the transaction.
4.2 Subscription Fees
- Monthly/Annual Plans: For merchants using OwlX Fintech services on a subscription basis, we offer flexible pricing plans (monthly or annual). The subscription fees are based on the level of service selected (e.g., basic, standard, or premium) and will be clearly stated in the contract.
- Tiered Pricing: Merchants processing higher volumes of transactions may qualify for tiered pricing, where the transaction fee decreases as volume increases. Details of tiered pricing will be communicated during the onboarding process.
4.3 Additional Fees
- Chargeback Fees: If a customer dispute leads to a chargeback, a standard chargeback fee will apply. This fee covers the administrative costs of handling the dispute.
- Late Payment Fees: If payments owed to OwlX Fintech for services are not made by the due date, late payment fees may be applied. These will be communicated to the merchant in advance.
- Service Upgrades/Downgrades: Merchants who wish to upgrade or downgrade their service level may incur a fee, which will be clearly outlined in the service agreement.
4.4 Discounts and Promotions
OwlX Fintech may offer temporary discounts, promotional pricing, or incentives for new customers or long-term partnerships. These offers will be clearly communicated and will have defined time periods and terms of use.
5. Refund Policy
In the event that a customer or merchant wishes to cancel a service or if an error occurs during a transaction, OwlX Fintech will evaluate refund requests on a case-by-case basis. Refunds for services will be processed according to the terms outlined in the service agreement or subscription contract.
6. Price Adjustments
OwlX Fintech reserves the right to adjust its pricing structure in response to market conditions, changes in regulatory requirements, or updates to the services offered. Any adjustments to pricing will be communicated to customers and merchants in advance, typically with 30 days’ notice. Customers will have the option to review the changes and discontinue services if they do not agree with the new pricing structure.
7. Responsibility of Customers and Merchants
Customers and merchants using OwlX Fintech services are responsible for:
- Reviewing and understanding the pricing structure before using the services.
- Paying all applicable fees and charges within the agreed-upon timeframe.
- Maintaining up-to-date contact information to ensure timely communication regarding fees and pricing adjustments.
8. Dispute Resolution
If a customer or merchant disputes a charge or fee, OwlX Fintech encourages open communication to resolve the issue. Disputes can be raised by contacting our support team via [email protected] or calling +91 96069 49055. Our team will investigate the issue and respond with a resolution within 7 business days.
9. Compliance with Regulatory Requirements
OwlX Fintech ensures that its pricing policies comply with applicable financial regulations, including guidelines issued by the Reserve Bank of India (RBI) and other governing bodies. We regularly review our policies to ensure that they align with legal and regulatory standards.
10. Periodic Review
OwlX Fintech Solutions Pvt Ltd will review this Fair Pricing Policy annually to ensure that it remains current and aligned with our values of transparency, fairness, and competitiveness. Any updates or changes to the policy will be communicated to our customers and merchants in advance.
By implementing this Fair Pricing Policy, OwlX Fintech Solutions Pvt Ltd demonstrates its commitment to offering clear, competitive, and value-driven pricing that reflects the needs of our customers and merchants while maintaining the highest standards of financial integrity.