Legal
Payment Policy
Last Updated: January 2025
This Payment Policy outlines the payment terms, commission structure, and financial transactions on the Need Network platform, operated by Kutami Private Limited.
1. Payment Overview
1.1 Platform Fees
Currently, Need Network is FREE to use:
- No registration fee
- No listing fee
- No subscription required
- No hidden charges
1.2 Commission Model
Our platform operates on a commission-based model:
- Sellers set commission rates (0% to 50%) for each listing
- Promoters earn commission when deals are closed
- Commission is paid by Sellers to Promoters
- Platform may charge a small processing fee on commission transactions
2. Payment Gateway
2.1 Razorpay Integration
All payments on Need Network are processed through Razorpay, an RBI-licensed Payment Aggregator.
- PCI-DSS Level 1 compliant
- 256-bit SSL encryption
- 24/7 fraud monitoring
2.2 Accepted Payment Methods
Through Razorpay, we support:
- UPI: Google Pay, PhonePe, Paytm, BHIM, and all UPI apps
- Cards: Visa, Mastercard, American Express, RuPay (Debit & Credit)
- Net Banking: All major Indian banks
- Wallets: Paytm, PhonePe, Amazon Pay (where supported)
2.3 Payment Security
- We never store your credit/debit card details
- All transactions are processed on Razorpay's secure servers
- 3D Secure authentication for card payments
- Real-time fraud detection
3. Commission Structure
3.1 How Commission Works
| Step | Description |
|---|---|
| 1 | Seller posts a listing with commission rate (e.g., 5%) |
| 2 | Promoter shares the listing with potential buyers |
| 3 | Buyer connects with Seller through the Promoter |
| 4 | Deal is closed between Seller and Buyer |
| 5 | Seller confirms deal completion in app |
| 6 | Commission is calculated and processed |
| 7 | Promoter receives commission in wallet |
3.2 Commission Rates
- Minimum: 0% (Seller pays no commission)
- Maximum: 50% (of deal value)
- Default: Set by Seller for each listing
- Negotiable: Sellers may negotiate with individual Promoters
3.3 Commission Calculation Example
Example:
- Deal Value: ₹10,00,000
- Commission Rate: 2%
- Commission Amount: ₹20,000
- Platform Fee (if any): ₹0
- Amount to Promoter: ₹20,000
4. Wallet System
4.1 In-App Wallet
Promoters have an in-app wallet where:
- Commission earnings are credited
- Balance is visible in real-time
- Transaction history is maintained
- Withdrawals can be initiated
4.2 Wallet Loading
If applicable, wallet can be loaded through:
- UPI transfer
- Net banking
- Card payment
5. Withdrawals
5.1 Withdrawal Process
- Go to Wallet > Withdraw
- Enter withdrawal amount
- Confirm linked bank account
- Submit withdrawal request
- Amount is transferred to bank account
5.2 Withdrawal Terms
| Parameter | Details |
|---|---|
| Minimum Withdrawal | ₹500 |
| Maximum Withdrawal | ₹2,00,000 per day |
| Processing Time | 3-5 business days |
| Withdrawal Charges | Free (subject to change) |
5.3 Bank Account Requirements
- Must be an Indian bank account
- Account must be in the user's name
- Valid IFSC code required
- Account must accept NEFT/IMPS transfers
6. Taxes
6.1 GST
- GST at applicable rates may be charged on platform fees
- Invoices will include GST details
- GST number displayed on invoices
6.2 TDS (Tax Deducted at Source)
- TDS may be deducted at applicable rates on commission payouts
- Currently applicable rate: As per Income Tax Act
- TDS certificate will be provided for filing returns
- Users should provide PAN for lower TDS rates
6.3 User Tax Obligations
- Users are responsible for their own tax filings
- Maintain records of all transactions
- Consult a tax professional for advice
7. Failed Transactions
7.1 Common Causes
- Insufficient balance
- Network connectivity issues
- Bank server downtime
- Incorrect payment details
- Transaction timeout
7.2 Resolution
- Failed payments are automatically reversed within 5-7 business days
- If refund is not received, contact payments@neednetwork.in
- Provide transaction ID for faster resolution
8. Dispute Resolution
8.1 Payment Disputes
For payment-related issues:
- Email payments@neednetwork.in
- Include transaction details and issue description
- We will investigate within 7 business days
- Resolution provided within 15 business days
8.2 Commission Disputes
For commission-related issues between Sellers and Promoters:
- Attempt to resolve directly first
- Contact platform support for mediation
- Provide evidence (chat logs, deal confirmation)
- Platform decision is final in mediated disputes
9. Prohibited Activities
The following payment activities are prohibited:
- Using stolen or unauthorized payment methods
- Money laundering or fraudulent transactions
- Creating fake deals for commission fraud
- Circumventing platform payment systems
- Chargebacks without valid reason
Violations may result in account suspension and legal action.
10. Contact Us
For payment-related queries:
Kutami Private Limited
Email: payments@neednetwork.in
Phone: +91 8919152515
Support Hours: Monday - Saturday, 9:00 AM - 6:00 PM IST