Payment Policy
This Payment Policy governs all transactions made on GFYBooks (operated by Genufy TechWorks). By using our platform and making payments, you agree to the terms described below.
1. Subscription Payments
- Billing Cycle: Subscriptions are billed monthly or yearly depending on the plan selected at the time of purchase.
- Auto-Renewal: Subscriptions do not auto-renew. You must manually renew before or after expiry from the Settings → Subscription page.
- Currency: All subscription prices are listed and charged in Indian Rupees (INR).
- Plan Upgrades: When upgrading mid-cycle, you are charged only the pro-rated difference for the remaining period of your current plan.
- Free Plan: The Free plan is available at no cost and does not require any payment details.
2. Invoice Payments (Online Payment Gateway)
GFYBooks integrates with Razorpay, a licensed payment aggregator, to enable your clients to pay invoices online. The following charges apply:
2.1 Razorpay Gateway Fees
Razorpay charges a transaction fee on every successful payment. These fees are deducted directly by Razorpay before the amount is settled to your bank account. Applicable rates (as per Razorpay standard pricing):
| Payment Method | Fee (+ 18% GST on fee) |
|---|---|
| UPI | 2% per transaction |
| Credit / Debit Card (Domestic) | 2% per transaction |
| Net Banking | 2% per transaction |
| Wallets | 2% per transaction |
| International Cards | 3% per transaction |
* Fees are charged by Razorpay and are subject to change. Refer to razorpay.com/pricing for the latest rates. GST at 18% is applicable on Razorpay fees as per Indian tax regulations.
2.2 Platform Fee
GFYBooks currently charges 0% platform fee on invoice payments processed through the payment gateway. This means the only deduction from your payment is the Razorpay gateway fee mentioned above.
* Platform fee is subject to change. Any changes will be communicated via email and reflected in the Settings → Subscription page at least 14 days in advance.
2.3 Transfer Fee
When funds collected through the payment gateway are transferred to your registered bank account via Razorpay Route, a transfer fee of 0.25% + 18% GST on the transfer fee is deducted from the net payment amount (after Razorpay gateway fees). This covers the cost of routing funds to your account.
| Fee Type | Rate | Applied On |
|---|---|---|
| Razorpay Gateway Fee | 2% (domestic) / 3% (international) + 18% GST on fee | Gross payment amount |
| Transfer Fee | 0.25% + 18% GST on transfer fee | Net amount after gateway fee |
| Platform Fee | 0% | — |
* Example: For a ₹1,000 payment via UPI — Razorpay deducts ₹20 (2%) + ₹3.60 GST = ₹23.60, leaving ₹976.40. Transfer fee: ₹24.41 (2.5%) + ₹4.39 GST (18%) = ₹28.80 deducted, resulting in a net settlement of ~₹947.60.
2.4 Settlement
- Funds are settled to your registered bank account by Razorpay typically within 2–5 business days of a successful payment.
- Settlement timelines may vary based on your bank and Razorpay's settlement cycle.
- You can track payment and settlement status in the invoice detail page under Payment History.
3. Supported Payment Methods
The following payment methods are accepted for invoice payments via Razorpay:
- UPI (GPay, PhonePe, Paytm, BHIM, etc.)
- Credit Cards (Visa, Mastercard, RuPay, Amex)
- Debit Cards (Visa, Mastercard, RuPay)
- Net Banking (all major Indian banks)
- Wallets (Paytm, Mobikwik, etc.)
- International Cards (subject to Razorpay enablement)
4. Multi-Currency Payments
- Invoices created in foreign currencies can be paid in the original currency or converted to INR at the prevailing exchange rate.
- Exchange rates are indicative and sourced from public APIs. The final amount charged may vary slightly due to Razorpay's currency conversion processing.
- Currency conversion is performed by Razorpay and their applicable forex charges may apply.
5. Failed Payments
- If a payment fails, no amount is deducted from the payer's account.
- In rare cases where an amount is debited but the payment is not confirmed, it will be automatically refunded by Razorpay within 5–7 business days.
- You can retry the payment using the same invoice payment link.
6. Payment Security
- All payment transactions are processed by Razorpay, which is PCI-DSS Level 1 compliant.
- GFYBooks does not store any credit/debit card numbers or sensitive payment credentials.
- All payment pages are served over HTTPS with SSL encryption.
7. Contact Us
For payment-related queries, disputes, or assistance, please contact us at support@gfybooks.com.