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Droom settles payment with sellers/dealers on weekly basis. All the eligible orders by Monday night are eligible for weekly payment in the upcoming cycle. The eligible orders are the ones that are marked as complete and seller KYC & Bank Info are completed until Monday and are not disputed or cancelled.
Droom follows a weekly payment cycle for first fortnight and bi-weekly in second fortnight that means a seller’s orders that are completed on first fortnight get settled on weekly basis and orders that are settled in second fortnight will be settled on bi-weekly basis. Droom follows a Wednesday cycle in first fortnight and Wednesday and Friday cycle in second fortnight i.e. Droom releases payment instructions to the bank on each Wednesday and Friday (second fortnight) for orders completed on or before Monday of that week. In the Wednesday payment cycle, seller will get paid for the items sold a week prior which have been marked as complete. Please note that seller will get paid only for those orders that have been marked as complete.
Droom collects payments from buyer either the Token Amount (currently at 2% - 3% of selling price depending upon the category) and in some cases the full amount of a transaction when a buyer commits for a transaction on Droom platform.
Once an order is marked as complete, Droom release the outstanding payment balance in weekly cycles to the sellers for the eligible orders after deducting its service fees & listing conversion fee plus GST (separately charged on each) on the services rendered and billed.
Droom currently charges selling service fee starting at 1.5% (depending upon the category) plus GST 18%. Droom also charges listing conversion fee starting at ₹9 (depending upon the category) + GST.
Droom is a performance-based market place where sellers only pay when they sell. Besides these, Droom takes premium pre-seller subscription fee from sellers who opt for the same.
In case, a seller has received any Droom coupons or marketing support, Droom makes the payment for the coupon or marketing support as part of its weekly payment cycles after deducting any applicable GST.
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