Payment Gateway Policy for IKIDS PRIMARY SCHOOL

1. Introduction

This policy outlines the terms and conditions for the use of the payment gateway by parents/guardians for fee payments at iKids Primary School. The school complies with the Reserve Bank of India (RBI) guidelines to ensure secure and seamless transactions.

2. Purpose

The purpose of this policy is to:

• Facilitate a convenient and secure method of fee payment.
• Ensure compliance with regulatory norms set by the RBI and related authorities.
• Protect the data privacy of all stakeholders.

3. Payment Methods Supported

The payment gateway accepts the following methods:

• Credit/Debit Cards (Visa, MasterCard, Rupay, etc.)
• Net Banking
• Unified Payments Interface (UPI)
• Digital Wallets (Paytm, PhonePe, etc.)
• NEFT/RTGS (if integrated)

4. Security and Compliance

To ensure data security and transaction integrity:

• The payment gateway is PCI DSS compliant (Payment Card Industry Data Security Standards).
• The system adheres to RBI's guidelines on tokenization and encryption of payment credentials.
• Multi-factor authentication (e.g., OTP, UPI PIN) is required for completing transactions.
• The school does not store any payment-related sensitive data like card details or UPI IDs.

5. Fee and Charges Disclosure

Parents will be notified about any convenience fees or transaction charges levied by the payment gateway before proceeding with the payment. These charges, if applicable, will be displayed clearly on the payment page.

6. Refund and Cancellation Policy

Refunds: Fee payments are generally non-refundable. However, refunds may be considered in cases of duplicate payments, over payments, or cancellations within a stipulated time frame (e.g., admission cancellation).

Procedure: Refund requests must be submitted in writing with supporting documents to the school's accounts department. Refunds will be processed within 7-15 business days after approval.

Transaction Failures: If a transaction fails but the amount is deducted, the payment gateway provider's customer support will resolve the issue. The resolution time is typically 7 working days.