If a seller does not enter the shipping details for an item within the stipulated time after PaisaPay has confirmed the buyer’s payment, PaisaPay system marks the item as not sent. When this happens the buyer’s complete payment towards the item is refunded & the seller is provided a manual credit towards FVF charged on the transaction.
From July 1st, 2009, sellers will be provided a manual credit for the FVF charged only if their approved system item not received is within 1% of the total PaisaPay transactions in a month*.
For sellers whose approved system item not received is more than 1%, the FVF credit will be capped at the initial 1% of the approved system item not received. For example, if a seller has 100 PaisaPay transactions in June, out of which 5 (approved on 2nd June, 5th June, 10th June, 19th June and 26th June) were approved for system item not received, the seller will be provided FVF credit only for the initial 1% approved system item not received, ie the system item not received approved on 2nd June.
However, sellers who have less than 10 PaisaPay transactions in a month or who have 2 or less approved system item not received in a month are exempt from the above policy. Such sellers will be provided FVF credit for all approved system item not received transactions.
Sellers will receive FVF credit for the eligible approved system item not received on a monthly basis, by the first week of the following month. For example: FVF credit for all system item not received approved in June, will be provided in the first week of July.
Note: From 28 August, 2009 seller initiated item not received refunds will be treated as a part of system initiated item not received refunds and will be subject to the above FVF credit policy. Hence, system item not received refunds and seller initiated refunds cumulatively should be within 1% of total PaisaPay transactions for the month.*
*Total PaisaPay transactions for the month will be computed as the larger of the PaisaPay transactions done by the seller in the last 2 months. For example, for computing the PaisaPay transactions done by the seller in June, we would consider the larger of the PaisaPay transactions done by the seller in May & June; if the seller has done 350 PaisaPay transaction in May and 298 PaisaPay transaction in June then the PaisaPay transactions for the month of June will be 350 (larger of the PaisaPay transactions of May and June).
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