Payment Policy:
Payment circulation is a crucial aspect of any business transaction. A payment system that is well-defined and efficient ensures smooth and transparent financial transactions between dealers and the company they are associated with which results in developing confidence for the said company in the mind of the pro-sellers.
The payment policy includes the terms and conditions which govern the payment process. Droom takes responsibility for protecting the sensitive information that is revealed while using the payment gateway and provides security by encrypting data received through card and bank details which was provided by the user.
Below are the payment policies designed for pro-sellers:
Regarding Big Assets, Merchandise, and Services:
Upon reaching the "Complete" stage in the OMP Panel, the corresponding "Eligible for Payment" status will appear in BBP. Subsequently, the finance team will initiate payouts to the relevant dealers.
Payouts scheduled up to Monday will be disbursed every week, typically on Wednesday or Thursday.
Dealers are required to provide mandatory KYC and bank details information.
Occasionally, the payout release process may be manually initiated at the request of CAM for internal control purposes.
Payments related to reports exclusively pertain to Droom. No payouts are issued for reports.
There is currently no online process established for resellers. For loans, once the loan amount is disbursed by a third party, our finance team will release the payouts to the respective resellers. Similarly, for insurance, payouts will be released to the respective reseller upon issuance of the insurance policy.
