fiserv icici merchant services won't settle my 4.6 lakhs transaction.

[V360]

a

re you able to cancel the transactions from your end and reverse it?

No - you cant do it once you take out the settlement slip.

 

[sxchzy]

No - you cant do it once you take out the settlement slip.

oh ok

 

[Bhagat Singh]

Fiserv India support

Level 1: Escalation Desk
Email ID: merchantesc@fiserv.com
Phone: 022 41561616 / 044 45608116

Level 2: Escalation Officer
Email ID: nodal.escalation@fiserv.com
Phone: 022 41561616 / 044 45608116

Level 3: Business Head
Email ID: imsbusinesshead@fiserv.com
Phone: 022 41561616 / 044 45608116

Kunal Gothivarekar
Global Business Solutions Head- India @ fiserv
minsri2002@gmail.com
kunal.gothivarekar@fiserv.com (not verified)
+912242294847

Hoping they will solve your problem.

Can i ask the customers to file chargeback against me??

 

[Bhagat Singh]

Since you are running a CSC, you receive commsions for providing services.

And a Recipt must also be generated in your CSC portal against each service in which Commission is mentioned along with Txn Amount.

You have to Proof that whatever Payments you have received is against a service provided to Customer by Charging a Commission.

4.8 lakhs worth txns is obviously not normal for any Gateway/POS treminal Provider for an Individual Merchant that too just in 4 days.

Even a sole Proprietor POS does not receive 4.8 lakh in one day

That is why most of such Service Provider in my area take the consideration either in Cash or UPI.

You recived 4.8 lakhs for providing which Service ?

Why will anyone pay you via DC/CC for doing Recharges and Bill Payments /Cash Withdrawal/Deposit that too after you charge Commission ?

They can simply use DC at any ATM for Withdrawal and CC/DC at Biller website.


You are hiding some details receiving 4.8 lakh at a time is abnormal.

Since you provided OTP you already accpted their tncs.

2 lakhs was a virtual wallet load. Customer could only load via imps or neft. So he swiped card at my shop and i sent balance to his wallet via imps after deduction mrd charges and commision.
32k fee payment. Biller had only upi or debit card option.
1.8lakhs was balance transfer. Customer swiped card at 4% charges (mdr + payment gateway charges and my commission) i have franchise of GST suvidha kendra they provide option to pay credit card bills of other people at 0.35% charges.
50k was for filing few ITR of customers family and some soft copy of designs

 

[VISHESH_BANSAL]

2 lakhs was a virtual wallet load. Customer could only load via imps or neft. So he swiped card at my shop and i sent balance to his wallet via imps after deduction mrd charges and commision.
32k fee payment. Biller had only upi or debit card option.
1.8lakhs was balance transfer. Customer swiped card at 4% charges (mdr + payment gateway charges and my commission) i have franchise of GST suvidha kendra they provide option to pay credit card bills of other people at 0.35% charges.
50k was for filing few ITR of customers family and some soft copy of designs

Okay.


Now Raise the complaint with RBI with Proper facts and then move to Consumer Court if needed.


For such high Volumes txns obtain GSTIN and use only Current Accounts.

ICICI provided you a POS terminal even when you metioned them you Expected Txn Volume Without any Requirements of GSTIN, is itself a Suspicious thing.

First try to sort out the matter with the help of RBI BO and Consumer Court.

Chargeback will complicate the case.

Fiserv will think why suddenly all customers are raising chargeback, there is something fishy.
Chargeback is raised when Merchant is unable to Provide Service or fraud txn.

Whatever reason customer will give for chargeback , it will backfire against you as per my understanding.

 

[Bhagat Singh]

Okay.


Now Raise the complaint with RBI with Proper facts and then move to Consumer Court if needed.


For such high Volumes txns obtain GSTIN and use only Current Accounts.

ICICI provided you a POS terminal even when you metioned them you Expected Txn Volume Without any Requirements of GSTIN, is itself a Suspicious thing.

First try to sort out the matter with the help of RBI BO and Consumer Court.

Chargeback will complicate the case.

Fiserv will think why suddenly all customers are raising chargeback, there is something fishy.
Chargeback is raised when Merchant is unable to Provide Service or fraud txn.

Whatever reason customer will give for chargeback , it will backfire against you as per my understanding.

If i ask customers to file chargeback as payment made via cash. When chargeback request will come to fiserv i will simply say that yes customer made payment in cash and i accept their chargeback. They will have to refund customers. And i read that 500rs per chargeback case fine. So basically I'll be charged 6000 rs for 12 transactions. I have already raised a complaint for return of pos and do not intend to take fiserv service in future. Is their any other complications for merchant for chargeback. I just want to take my moneyback from fiserv as RBI akd consumer court can take months maybe a year to resolve. 5-10k lose i can manage.

 

[VISHESH_BANSAL]

If i ask customers to file chargeback as payment made via cash. When chargeback request will come to fiserv i will simply say that yes customer made payment in cash and i accept their chargeback. They will have to refund customers. And i read that 500rs per chargeback case fine. So basically I'll be charged 6000 rs for 12 transactions. I have already raised a complaint for return of pos and do not intend to take fiserv service in future. Is their any other complications for merchant for chargeback. I just want to take my moneyback from fiserv as RBI akd consumer court can take months maybe a year to resolve. 5-10k lose i can manage.

I once used Paytm Merchant services for a Family member
But i never faced chargeback situations.
So I do not know how it works practically.


May be @vaibhav111 faced any chargeback case and clarfiy it since he is also availing merchant sevices

 

[vaibhav111]

I once used Paytm Merchant services for a Family member
But i never faced chargeback situations.
So I do not know how it works practically.


May be @vaibhav111 faced any chargeback case and clarfiy it since he is also availing merchant sevices

I don't have a POS machine, and all the prepaid money i received through a payment gateway for my d2c brand so never faced an issue there. I conduct them either through payment gateway charges Payumoney/Paytm/Razorpay and I have never encountered any issues.

 

[Tejo]

i took ICICI POS machine on 3rd june 2023. accepted payment of 4.6 lakhs on 7th june. instead of settling my money they put entire amount on hold for 540 days. customer service is arguing and not helping at all. i have provided all documents and everything but still no resolution. they says their final decision is 540 days hold and may hold for indefinite time after 540 days.
i asked to take their machine back and refund those payments back to customers cards. but they denied that too.

what can be done against fiserv???
icici merchant services is denying any help. they simply say contact fiserv.

no such terms or conditions or schedule of charges was disclosed was explained before hand.
machine was installed by taking a simple OTP.

should i ask customers to file chargeback against me?? so they can get their refunds as bank isn't my bank settling the payment to my account.

i have already lodged a complaint to RBI ombudsman.

can anyone guide me how and where can i file case in consumer court??
can i file it myself or should i consult a lawyer??

I advise you have patience first, get the aadhar and pan details of the card holder who swiped.

Get consent from card holder that he swiped for various bill payments.

Just do as I mentioned, ignore if already done.
Mail to nodal.escalation@fiserv.com

Say only truth, 32k bill payment, 50k gst fillings and x amount for money transfer etc

If they not responded report to rbi ombudsman.

Send them the consent of card holder too.

Also say the agent or fiserv or icici were not informed about the terms and conditions for the usage.

Only truth!

God luck.

What about the card holder ?

Did you do the bill payment and balance transfer for him?

 

[Bhagat Singh]

I advise you have patience first, get the aadhar and pan details of the card holder who swiped.

Get consent from card holder that he swiped for various bill payments.

Just do as I mentioned, ignore if already done.
Mail to nodal.escalation@fiserv.com

Say only truth, 32k bill payment, 50k gst fillings and x amount for money transfer etc

If they not responded report to rbi ombudsman.

Send them the consent of card holder too.

Also say the agent or fiserv or icici were not informed about the terms and conditions for the usage.

Only truth!

God luck.

What about the card holder ?

Did you do the bill payment and balance transfer for him?

I emailed to nodal.escalation@fiserv.com and imsbusinesshead@fiserv.com but all in vain. They simply emailed fraudhelpdesk@fiserv.com team that dear team please help if you can. Than no reply. fraudhelpdesk@fiserv.com ignore nodal office and business head.

On service request raised via icici merchant services they said they have decided and it's final that 540 days hold. They will report to me to regulator bla bla i didn't understand . I have attached a screenshot of their decision. They say they will hold payment of indefinite time after 540 days. I have already sent them chargeslips, customer Aadhar card , mobile number of customer, and told that some bill payment and money transfer transaction. I also told that no terms and conditions were disclosed to me. They say they have detected adverse activity. I had machine for just 4 days. Already told agent beforehand that monthly volume will be 5-8 lakhs.

They asked for shop photos and business description i sent both. Told them i do money transfer and stuff too. But they just reply me same everytime which is attached in below screenshot.


ICICI bank is not helping at all. Bank says contact icici merchant services
Icici merchant services says contact fiserv
Fiserv says contact their C&R team at fraudhelpdesk@fiserv.com

They say forget your money.

I do not know what they mean by that they will report my transactions to regulator for action and hold money for indefinite time.

I had machine for 4 days. Accepted around 20 transaction amounting to 4.8 lakhs. 20k was settled. But all 12 transactions of 7th june amounting to 4.6 lakhs are held.

 

[Tejo]

I emailed to nodal.escalation@fiserv.com and imsbusinesshead@fiserv.com but all in vain. They simply emailed fraudhelpdesk@fiserv.com team that dear team please help if you can. Than no reply. fraudhelpdesk@fiserv.com ignore nodal office and business head.

On service request raised via icici merchant services they said they have decided and it's final that 540 days hold. They will report to me to regulator bla bla i didn't understand . I have attached a screenshot of their decision. They say they will hold payment of indefinite time after 540 days. I have already sent them chargeslips, customer Aadhar card , mobile number of customer, and told that some bill payment and money transfer transaction. I also told that no terms and conditions were disclosed to me. They say they have detected adverse activity. I had machine for just 4 days. Already told agent beforehand that monthly volume will be 5-8 lakhs.

They asked for shop photos and business description i sent both. Told them i do money transfer and stuff too. But they just reply me same everytime which is attached in below screenshot.


ICICI bank is not helping at all. Bank says contact icici merchant services
Icici merchant services says contact fiserv
Fiserv says contact their C&R team at fraudhelpdesk@fiserv.com

They say forget your money.

I do not know what they mean by that they will report my transactions to regulator for action and hold money for indefinite time.

I had machine for 4 days. Accepted around 20 transaction amounting to 4.8 lakhs. 20k was settled. But all 12 transactions of 7th june amounting to 4.6 lakhs are held.

Don't you think why virtual wallet limit is just 2 lakh?

Why there's no credit card option ?

The every credit card transaction must be explained to card issuer bank, the purpose. Like shopping, fuel etc

Credit card is line of credit, the money from group firms or individual. So everyone need to be responsible.

 

[Bhagat Singh]

I advise you have patience first, get the aadhar and pan details of the card holder who swiped.

Get consent from card holder that he swiped for various bill payments.

Just do as I mentioned, ignore if already done.
Mail to nodal.escalation@fiserv.com

Say only truth, 32k bill payment, 50k gst fillings and x amount for money transfer etc

If they not responded report to rbi ombudsman.

Send them the consent of card holder too.

Also say the agent or fiserv or icici were not informed about the terms and conditions for the usage.

Only truth!

God luck.

What about the card holder ?

Did you do the bill payment and balance transfer for him?

Yes i have delivered my services. I know them coz they live in my village. . I even asked fiserv team to call them on their number to verify those transactions. But they do nothing.
.
Fiserv simply say they detected adverse activity. Don't tell what that activity is.

My total 10 lakhs is stuck. As 4.5 lakhs fiserv put at hold. And i delivered service of that amount to customers already so. 4.5 lakhs more gone. I can't even ask payment from customers cause their credit cards were debited . I asked them if they can file chargeback against me. And when they recieve chargeback money. They can pay me via another mode. They're willing to help. But i don't understand chargeback system. How much penalty will i face etc. It says on 1 place of fiserv website that 500 rs per transaction for chargeback. So 12 transaction 6k i can manage. But if they charge me 50-60k or some absurd amount as none terms and conditions are revealed to me.
Also problem returning machine. Icici merchant services told me 1500+gst. Fiserv says 5000+ gst.
There is also 15000+ gst penalty if no payment accepted on pos 30-44 days. + 700+ gst rent.


I was told about renr oart but this non usage 15k+gst was not told.

As i told earlier machine was installed just by taking a OTP. No business verification or other stuff was done.

 

[Bhagat Singh]

That

Don't you think why virtual wallet limit is just 2 lakh?

Why there's no credit card option ?

The every credit card transaction must be explained to card issuer bank, the purpose. Like shopping, fuel etc

Credit card is line of credit, the money from group firms or individual. So everyone need to be responsible.

That virtual wallet is linked to a virtual bank account. It can only be loaded via imps/NEFT via netbanking only. No other option was available like upi , debit card , netbanking.

 

[vaibhav111]

This is big headache for you, how long you’re been accepting payment not through pos machine cause the simplest way not to get pos machine. it for Gst compliance individual or company just registered on any payment gateway and your customer would pay online. And I’m still can’t figure why on earth you would each big transaction on 4th days I guess you didn’t how this work cause on pos machine tons of shopkeeper use their cc to avail cb. So from going forward this issue you will face. Cause the amount of 4 to 8 lakhs isn’t a small. Would suggest you find alternative or use previous method you were using before. I each pos machine such amount will put red flag untill you grow at each month which you said start with 4 to 8 lakhs. Which is too big in number without gst registered number for your business.

Yes i have delivered my services. I know them coz they live in my village. . I even asked fiserv team to call them on their number to verify those transactions. But they do nothing.
.
Fiserv simply say they detected adverse activity. Don't tell what that activity is.

My total 10 lakhs is stuck. As 4.5 lakhs fiserv put at hold. And i delivered service of that amount to customers already so. 4.5 lakhs more gone. I can't even ask payment from customers cause their credit cards were debited . I asked them if they can file chargeback against me. And when they recieve chargeback money. They can pay me via another mode. They're willing to help. But i don't understand chargeback system. How much penalty will i face etc. It says on 1 place of fiserv website that 500 rs per transaction for chargeback. So 12 transaction 6k i can manage. But if they charge me 50-60k or some absurd amount as none terms and conditions are revealed to me.
Also problem returning machine. Icici merchant services told me 1500+gst. Fiserv says 5000+ gst.
There is also 15000+ gst penalty if no payment accepted on pos 30-44 days. + 700+ gst rent.


I was told about renr oart but this non usage 15k+gst was not told.

As i told earlier machine was installed just by taking a OTP. No business verification or other stuff was done.

 

[dhiraz]

I think I Also Saw This Type Of Problem With Pos Machine from ICICI Bank

I remember I visited my ICICI Bank Home Branch for my PPF Account Transfer Request ICICI To SBI Because I had Already Submitted The Application Form for PPF Account Transfer from ICICI To SBI

So I visited the branch for the status of my PPF Account Transfer Request and I am sitting in front of the ICICI Employee Desk & 3 4 People Seeing The Desktop Screen Along With ICICI Branch Manager They all are doing Khusur Phusur in Each Other Like Ye 2 Lakh Gaye Kahan Dukaan Wala Kah Raha Hai Ki Usne Apna Card Swipe Mara Hai Khud Ki Machine Pe

And I Am Asking To ICICI Branch Manager Sir Mere PPF Account Transfer Request Ka Kya Huaa

Then Manager Said To Me Yaar Ak To Tumhara Bhi Request Bada Ajeeb Hai Rarely Hi Kisi Ne PPF Account Transfer Karaya Hoga Ak Bank Se Dusre Bank Mai

Aur Yahan Ak Bande Ke 2 Lakh Gayab Hain Usne Apni Hi Machine Pe Apna Credit Card Swipe Mar Rakkha Hai Aur Kah Raha Paise Kat Gaye Lakin Account Mai Aaye Nahi

I Think This is Similar

 

[Bhagat Singh]

This is big headache for you, how long you’re been accepting payment not through pos machine cause the simplest way not to get pos machine. it for Gst compliance individual or company just registered on any payment gateway and your customer would pay online. And I’m still can’t figure why on earth you would each big transaction on 4th days I guess you didn’t how this work cause on pos machine tons of shopkeeper use their cc to avail cb. So from going forward this issue you will face. Cause the amount of 4 to 8 lakhs isn’t a small. Would suggest you find alternative or use previous method you were using before. I each pos machine such amount will put red flag untill you grow at each month which you said start with 4 to 8 lakhs. Which is too big in number without gst registered number for your business.

Yes bro. I was not aware of any such problems with pos machines. I confirmed beforehand with employee of icici merchant services that if there will be problem as i will accept around 8 lakhs monthly. I was assured there will not be any issue. I can accept any amount payment. And about merchant swiping thier own cards at pos machine is stupid as mdr is above 2% and if anyone have super premium cards like magnus and they swipe it regularly banks will detect it and block their cards, also service provider whose pos merchant is using will also detect .But if you swipe your own cards for some geniune reason there is no issue.

I used hdfc and Paytm payment gateway earlier. Still using them. Was just trying pos machine.

I don't have gst because the company whose franchise i have deducts gst and tds on my behalf.

 

[vaibhav111]

Yes bro. I was not aware of any such problems with pos machines. I confirmed beforehand with employee of icici merchant services that if there will be problem as i will accept around 8 lakhs monthly. I was assured there will not be any issue. I can accept any amount payment. And about merchant swiping thier own cards at pos machine is stupid as mdr is above 2% and if anyone have super premium cards like magnus and they swipe it regularly banks will detect it and block their cards, also service provider whose pos merchant is using will also detect .But if you swipe your own cards for some geniune reason there is no issue.

I used hdfc and Paytm payment gateway earlier. Still using them. Was just trying pos machine.

I don't have gst because the company whose franchise i have deducts gst and tds on my behalf.

Nice you have paytm gateway, pls use that case this pos machine issue won't leave untill the pos machine understand your payment behavior and that would take couple of month and that for one pos machine if change issue arise only in case of proper paper submitted and verification you can conduct large amount of transaction with gst cause that the first thing they would ask. That agent just wanted to reach target. I hope your issue get resolved sooner than expected. Do keep us updated.

 

[mohansekar]

What happen did the issue resolved I also face same issue

 

[Bhagat Singh]

What happen did the issue resolved I also face same issue

So brother. I complained to RBI but icici still denying to release payment. Nor they're taking there POS machine back. They're asking 5000+ GST while i was told it's 1500+ gst if returned in first 6 months. Waiting for RBI final decision. Will appeal if resolution not provided. As no terms and conditions were shared beforehand. Also agent who gave pos machine switched off his phone for 5 days now he blocked my primary number and declining calls from my secondary no. I also found out that he also registered my bussiness in wrong category. I have internet caffè so my category should be finance or utility as i make bill payment for other people, also open bank accounts , provide cash withdrawal wil aeps or debit card. But he registered by shop as grocery/departmental store. ICICI customer care and email support is pathetic. Seems they hired illiterate people for 5k per month salary. They just keep reading scripts like robot . Fiserv is rude and doesn't help at all. They also stopped replying on emails. Branch is saying talk to agent who gave machine. Bank customer care is asking to contact fiserv.

 

[mohansekar]

So brother. I complained to RBI but icici still denying to release payment. Nor they're taking there POS machine back. They're asking 5000+ GST while i was told it's 1500+ gst if returned in first 6 months. Waiting for RBI final decision. Will appeal if resolution not provided. As no terms and conditions were shared beforehand. Also agent who gave pos machine switched off his phone for 5 days now he blocked my primary number and declining calls from my secondary no. I also found out that he also registered my bussiness in wrong category. I have internet caffè so my category should be finance or utility as i make bill payment for other people, also open bank accounts , provide cash withdrawal wil aeps or debit card. But he registered by shop as grocery/departmental store. ICICI customer care and email support is pathetic. Seems they hired illiterate people for 5k per month salary. They just keep reading scripts like robot . Fiserv is rude and doesn't help at all. They also stopped replying on emails. Branch is saying talk to agent who gave machine. Bank customer care is asking to contact fiserv.

Can you share steps to raise complaint to RBI?