Online Payment Policy

1. Introduction

This Online Payment Policy (“Policy”) governs all digital transactions made on Pragatigem.com, owned and operated by Pragati Gem (“Company”, “we”, “our”, “us”).

By making a payment on our website, you agree to this Policy.

2. Legal Compliance

This Policy is governed by:

Payment and Settlement Systems Act, 2007
Information Technology Act, 2000
Consumer Protection Act, 2019
RBI Guidelines on Payment Aggregators & Payment Gateways

RBI regulates all online payment systems in India to ensure security, transparency, and consumer protection.

3. Accepted Payment Methods

We accept payments through secure RBI-compliant channels, including:

UPI (Unified Payments Interface)
Debit Cards / Credit Cards
Net Banking
Wallets (if enabled by payment partner)

All payments are processed through authorized payment aggregators.

4. Payment Gateway Compliance

Payments are processed via RBI-authorized payment aggregators
Payment partners comply with KYC, AML, and PCI-DSS security standards
Merchant onboarding and transactions follow strict due diligence norms

As per RBI rules, only compliant entities can facilitate online payments.

5. Payment Authorization & Security

All transactions require secure authentication (2FA / dynamic authentication)
Additional security measures may be applied for high-value transactions
RBI is strengthening multi-factor authentication beyond OTP for better fraud protection

Users are responsible for maintaining confidentiality of payment credentials.

6. Pricing & Charges

All prices are displayed in Indian Rupees (INR)
Prices include applicable taxes unless stated otherwise
Additional charges (if any) such as gateway fees will be clearly disclosed

7. Payment Confirmation

Upon successful payment, users will receive confirmation via:
- Email / SMS
- On-screen confirmation

If payment fails but amount is debited, it will be handled as per RBI timelines.

8. Failed Transactions & Refunds

Failed transactions are automatically reversed within 5–7 working days (as per RBI TAT guidelines)
Refunds for cancelled or failed payments will be processed to the original payment method
Any delays due to banks/payment gateways are beyond our control

RBI mandates time-bound dispute resolution and refund systems for payment platforms

9. Chargebacks & Disputes

Users must raise disputes within a reasonable time
We may require proof of transaction or service issue
Fraudulent chargebacks may lead to account suspension

Payment aggregators are required to maintain dispute resolution mechanisms

10. Data Security & Storage

We do not store card details on our servers
Payment data is handled by secure, RBI-compliant payment partners
Payment data must be stored in India as per RBI data localization norms

11. Merchant & Vendor Responsibility

Vendors are responsible for fulfillment of services/products
Any refund or dispute related to service quality is the vendor’s liability
Platform acts only as an intermediary

12. Fraud Prevention

We implement:

Transaction monitoring
Risk-based payment controls
Fraud detection systems

RBI requires continuous monitoring of merchant activity to prevent misuse

13. User Responsibility

You agree:

Not to use unauthorized payment methods
Not to engage in fraudulent transactions
To provide accurate billing details

Any misuse may lead to legal action.

14. Cancellation Policy

Payments can be cancelled before service/product confirmation
Post-confirmation cancellations are subject to refund policy

15. Limitation of Liability

We are not liable for:

Payment gateway failures
Banking issues or delays
Unauthorized transactions due to user negligence

16. Grievance Redressal

As per RBI and Consumer Protection rules:

Complaints acknowledged within 48 hours
Resolution within 30 days

📧 Email: contact@pragatigem.com

17. Changes to Policy

We reserve the right to update this Policy at any time.
Continued use of the website implies acceptance of updates.

18. Acceptance

By making a payment on Pragatigem.com, you:

Agree to this Online Payment Policy
Confirm understanding of risks and responsibilities