BorrowBuddy is committed to providing secure and seamless payment experiences through our trusted payment gateway, Instamojo. This Payment Policy outlines the payment methods, processing procedures, and security measures for transactions on our website, in compliance with Indian regulations, including RBI’s data localization requirements.

Accepted Payment Methods

We accept the following payment methods via Instamojo:

• Credit and Debit Cards (Visa, MasterCard, etc.)
• UPI (Unified Payments Interface)
• Net Banking
• Digital Wallets (e.g., Paytm, PhonePe)

Instamojo supports over 100 payment methods for domestic transactions. International payments may be supported on a case-by-case basis, subject to Instamojo’s approval and configuration.

Payment Processing

All payments are processed securely through Instamojo’s trusted payment gateway. Key details:

• Payments are processed in real-time, typically without redirecting you away from our website.
• Domestic transactions are settled within 3–5 business days, subject to Instamojo’s settlement cycle.
• Transaction fees (e.g., 2% + ₹3 per transaction for domestic payments) may apply and will be displayed at checkout. Customized pricing may be available for high-volume transactions upon contacting Instamojo.
• Payments are subject to a maximum transaction limit of ₹1,00,000, which may be increased on a case-by-case basis upon request to Instamojo.

Subscriptions and Recurring Payments

For subscriptions or recurring payments:

• Billing cycles and terms will be clearly displayed at the time of subscription.
• You may cancel subscriptions through your account or by contacting our Customer Service team.
• Refunds for subscriptions are subject to our Cancellation & Refund Policy.

KYC Requirements

Certain transactions may require KYC verification (e.g., PAN, Aadhaar, business documents) as mandated by Instamojo or Indian regulations to prevent financial fraud. You will be notified if KYC is required, and failure to comply may result in transaction delays or cancellations.

Security

Instamojo uses encryption and secure protocols to protect your payment information. BorrowBuddy does not store sensitive payment details (e.g., card numbers, UPI IDs). All payment data is processed and stored in India, in compliance with RBI’s data localization regulations.

Contact Us

For payment-related queries, contact:

• BorrowBuddy Customer Service: support@borrowbuddy.in or +91-7707832318
• Instamojo Support: support@instamojo.com
• Address: Nandpur, Sahnewal, Ludhiana, Punjab 141120, India