Effective Date: April 25, 2025
Platform: https://rapidshop.in
Company: Opxora Techno Pvt. Ltd.
Registered Address: Innov8 Okhla, 3rd Floor, 211 Okhla Industrial Estate, Phase 3, South Delhi, New Delhi, Delhi, India – 110020
Email: info@rapidshop.in
Phone: 9220218426
1. Introduction
This Seller Payment Policy outlines the terms and procedures regarding seller payouts on Rapidshop.in, a curated fashion marketplace. By listing products and selling on the platform, sellers agree to comply with the payment terms stated herein.
2. Payment Schedule
- Weekly Payouts: Payments to sellers are processed every Monday, based on successfully completed and delivered orders.
- Orders must have:
- A confirmed delivery status.
- Passed the 7-day return window, applicable to fashion products.
- Only eligible transactions will be included in the weekly payout.
3. Payment Method
- Payments are transferred directly to the seller’s registered bank account via NEFT/IMPS/RTGS.
- Sellers must maintain accurate bank account information in their profile to ensure timely processing.
4. Deductions & Fees
The following deductions may apply:
- Marketplace Commission: As per the commission structure agreed during onboarding.
- Payment Gateway Charges: As applicable per transaction.
- Returns/Refunds Adjustments: Based on customer returns within the allowable return window.
- Penalties: If applicable, for violations such as order non-fulfillment or late dispatch.
Each payout will be accompanied by a detailed transaction report, accessible via the Seller Dashboard.
5. Returns & Refunds Impact
- If a product is returned by the customer and accepted after quality verification, the order will not be eligible for payout.
- Any refunded order amount will be deducted from the upcoming payment cycle.
- For prepaid orders returned post-payment, the deduction will reflect in the next settlement.
6. Tax Compliance
- All payments are subject to applicable Indian tax laws.
- TDS (Tax Deducted at Source) will be deducted at the prevailing rate.
- Sellers are required to furnish valid PAN and GSTIN details.
- TDS certificates will be issued quarterly or as mandated.
7. Payment Disputes
- Sellers must report any payout discrepancies within 7 calendar days from the date of payment.
- All disputes must be emailed to info@rapidshop.in with the subject line: Payment Dispute – [Seller ID].
- Our support team will respond within 3 business days.
8. Suspension or Withholding of Payments
Payments may be temporarily suspended if:
- Fraudulent, suspicious, or unauthorized activity is detected.
- The seller has unresolved customer complaints or excessive return rates.
- The seller is in violation of any platform policies.
9. Data Retention Policy
- All seller-related transaction and payout data will be stored for a maximum of 30 days from the date of generation.
- Sellers are advised to download and archive their reports regularly for accounting and reconciliation purposes.
10. Policy Amendments
Opxora Techno Pvt. Ltd. reserves the right to amend this Seller Payment Policy at any time. All changes will be communicated via email or seller dashboard notifications. Continued use of the platform constitutes acceptance of updated terms.
For further information or support, please contact:
📧 Email: info@rapidshop.in
📞 Phone: 9220218426