SPEOR PAYMENTS & COMMISSION POLICY

1️⃣ Platform Payment Model (Current)

Speor operates a Speor-managed payment marketplace model.

This means:

• Customers place orders through official Shopify checkout
• Customers pay Speor directly through Razorpay payment gateway
• Speor holds funds in marketplace account
• Speor processes settlements to sellers and delivery partners
• Speor manages all refunds and customer payment disputes

Payment Methods Accepted:

Credit Card • Debit Card • UPI • Net Banking • Wallets • EMI options (as supported by Razorpay)

2️⃣ Seller Payment & Payout Structure

Payment Flow:

• Customer pays Speor at checkout
• Speor verifies order completion
• Speor processes payout to seller on scheduled date

Payout Schedule:

Important Notes:

• Payouts are NOT processed on bank holidays
• Payouts processed on next working day if holiday falls on Wednesday
• Sellers must maintain valid bank account details
• First payout may take 7-10 business days after first order

3️⃣ Commission Structure

Speor charges commission for:

• Platform discovery and visibility
• Profile hosting and management
• Order routing and technology infrastructure
• Customer acquisition
• Payment collection and settlement
• Customer support and refund processing

Commission Plans:

Commission is:

• Auto-calculated through marketplace system
• Deducted automatically before payout settlement
• No separate payment required from seller

5️⃣ Delivery Partner Payout Structure

Payout Schedule:

Important Notes:

• Payouts are NOT processed on bank holidays
• Payouts processed on next working day if holiday falls on Monday
• Delivery partners must maintain valid bank account details

Payment Calculation:

• Delivery charges collected from sellers
• Speor pays delivery partners according to agreed rates
• Deductions may apply for violations, damages, or theft

6️⃣ Refund & Dispute Management

Speor is responsible for:

• Processing refunds to customers
• Handling customer payment disputes
• Managing chargebacks with Razorpay
• Customer support for payment issues

Refund Scenarios:

• Seller fault: Full refund to customer, NO payout to seller
• Customer cancellation (before dispatch): Full refund, seller payout cancelled
• Delivery failure (Speor partner fault): Full refund, delivery payout adjusted

Refund processing time: 5-10 business days to original payment method.

7️⃣ Off-Platform Transaction Ban

Seller must NOT:

• Divert customers outside platform
• Cancel order in system and complete offline
• Share alternate booking links
• Offer lower price outside Speor
• Accept direct payments bypassing Speor checkout

This is considered:

Penalty:

🔥 Permanent ban
🔥 Forfeiture of pending payouts
🔥 Legal compensation claim

8️⃣ Future Payment Enhancements

Seller agrees Speor may introduce in future:

• Instant payout options (with processing fees)
• Wallet system for faster settlements
• Platform convenience fees
• Subscription plans with benefits
• Automated tax deduction (TDS) as per regulations
• Invoice generation for sellers

Seller continued use = consent to future enhancements.

9️⃣ Fraud & Risk Control

Speor may:

• Investigate suspicious transactions
• Freeze seller profile visibility during investigation
• Request payment proof and order documentation
• Remove listings with suspicious activity
• Withhold payouts pending investigation
• Report fraud to Razorpay and authorities

Examples of fraud:

Fake orders • Commission hiding • Refund cheating • Fake delivery marking • Platform bypass transactions • Identity fraud

🔟 Financial Liability & Legal Recovery