Phonepe - PHONE PE deducted hidden charges

Dear Sir/Madam,

I am writing to address a concerning issue regarding the recent settlement conducted through your platform for our merchant account under the name RAMSONS ASBESTOS CEMENT PRODUCTS, with the linked phone number **********.

On the settlement date of *th April ****, the settlement amount was stated as *****.** INR. However, upon reviewing our records, we found that the actual amount collected on *th April **** was *****.** INR. This discrepancy of ***.** INR was charged as deductions, which we were informed were related to payments made via credit cards.

As a merchant, it is impractical and unfair for us to be held accountable for deductions based on the payment method chosen by the customer. We do not have visibility into the payment source at the time of transaction, whether it be through a wallet, UPI, or credit/debit card. Your platform indicates the received amount, but subsequent deductions during settlement lack transparency and undermine our trust in your service.

We do have multiple businesses and other UPI service providers with whom we conduct business have not imposed such hidden charges and have maintained transparency in settlements. It is disheartening to experience this lack of transparency and unexpected deductions from a reputed payment gateway like PHONEPE.

We request immediate clarification on the deduction process and a refund of the deducted amount of ***.** INR. Failure to address this issue satisfactorily may compel us to pursue legal action with CRPC , rbi to safeguard our rights as merchants.

We also contacted customer care and registered a complaint. Complaint number : ******** and ********, but no solution was found

For further communication regarding this matter, you can reach out to me. We anticipate your prompt attention and resolution to this issue.

Settlement details

Name : RAMSONS ASBESTOS CEMENT

PRODUCTS

Linked phone number: **********

Settlement date: **/**/****

Settlement UTR : AXNPN***********

Actually amount collected on */**/**/: Rs *****.**

Settlement amount on */**/** : Rs *****.**

Deducted charges: Rs ***.**



*Screenshot enclosed

Sincerely,