This Payment Policy governs all transactions made on GFYBooks (operated by Genufy TechWorks). By using our platform and making payments, you agree to the terms described below.
1. Subscription Payments
- Billing Cycle: Subscriptions are billed monthly or yearly depending on the plan selected at the time of purchase.
- Auto-Renewal: Subscriptions do not auto-renew. You must manually renew before or after expiry from the Settings → Subscription page.
- Currency: All subscription prices are listed and charged in Indian Rupees (INR).
- Plan Upgrades: When upgrading mid-cycle, you are charged only the pro-rated difference for the remaining period of your current plan.
- Free Plan: The Free plan is available at no cost and does not require any payment details.
2. Invoice Payments (Online Payment Gateway)
GFYBooks integrates with Razorpay, a licensed payment aggregator, to enable your clients to pay invoices online. The following charges apply:
2.1 Razorpay Gateway Fees
Razorpay charges a transaction fee on every successful payment. These fees are deducted directly by Razorpay before the amount is settled to your bank account. Applicable rates (as per Razorpay standard pricing):
| Payment Method | Fee (+ 18% GST on fee) |
|---|---|
| UPI | 2% per transaction |
| Credit / Debit Card (Domestic) | 2% per transaction |
| Net Banking | 2% per transaction |
| Wallets | 2% per transaction |
| International Cards | 3% per transaction |
* Fees are charged by Razorpay and are subject to change. Refer to razorpay.com/pricing for the latest rates. GST at 18% is applicable on Razorpay fees as per Indian tax regulations.
2.2 Platform Fee
GFYBooks currently charges 0% platform fee on invoice payments processed through the payment gateway. This means the only deduction from your payment is the Razorpay gateway fee mentioned above.
* Platform fee is subject to change. Any changes will be communicated via email and reflected in the Settings → Subscription page at least 14 days in advance.
2.3 Transfer Fee
When funds collected through the payment gateway are transferred to your registered bank account via Razorpay Route, a transfer fee of 0.25% + 18% GST on the transfer fee is deducted from the net payment amount (after Razorpay gateway fees). This covers the cost of routing funds to your account.
| Fee Type | Rate | Applied On |
|---|---|---|
| Razorpay Gateway Fee | 2% (domestic) / 3% (international) + 18% GST on fee | Gross payment amount |
| Transfer Fee | 0.25% + 18% GST on transfer fee | Net amount after gateway fee |
| Platform Fee | 0% | — |
* Example: For a ₹1,000 payment via UPI — Razorpay deducts ₹20 (2%) + ₹3.60 GST = ₹23.60, leaving ₹976.40. Transfer fee: ₹24.41 (2.5%) + ₹4.39 GST (18%) = ₹28.80 deducted, resulting in a net settlement of ~₹947.60.
2.4 Settlement
- Funds are settled to your registered bank account by Razorpay typically within 2–5 business days of a successful payment.
- Settlement timelines may vary based on your bank and Razorpay's settlement cycle.
- You can track payment and settlement status in the invoice detail page under Payment History.
3. Supported Payment Methods
The following payment methods are accepted for invoice payments via Razorpay:
- UPI (GPay, PhonePe, Paytm, BHIM, etc.)
- Credit Cards (Visa, Mastercard, RuPay, Amex)
- Debit Cards (Visa, Mastercard, RuPay)
- Net Banking (all major Indian banks)
- Wallets (Paytm, Mobikwik, etc.)
- International Cards (subject to Razorpay enablement)
4. Multi-Currency Payments
- Invoices created in foreign currencies can be paid in the original currency or converted to INR at the prevailing exchange rate.
- Exchange rates are indicative and sourced from public APIs. The final amount charged may vary slightly due to Razorpay's currency conversion processing.
- Currency conversion is performed by Razorpay and their applicable forex charges may apply.
5. Failed Payments
- If a payment fails, no amount is deducted from the payer's account.
- In rare cases where an amount is debited but the payment is not confirmed, it will be automatically refunded by Razorpay within 5–7 business days.
- You can retry the payment using the same invoice payment link.
6. Payment Security
- All payment transactions are processed by Razorpay, which is PCI-DSS Level 1 compliant.
- GFYBooks does not store any credit/debit card numbers or sensitive payment credentials.
- All payment pages are served over HTTPS with SSL encryption.
7. Contact Us
For payment-related queries, disputes, or assistance, please contact us at support@gfybooks.com.