I.What is PaywithRing?

PaywithRing is a payments and credit application that provides financial services to the small merchants to help grow their businesses. It allows merchants to accept UPI payments from their customers through QR codes and provides hassle-free loan that helps them meet urgent business requirements.

II.Who can use PaywithRing QR?

PaywithRing QR can be used by merchants and shop owners to accept UPI payments from their customers.

III.How can my customer use QR Code to make payments?

The customer can scan the unique PaywithRing QR Code and make the payment using any UPI app such as Google Pay, PhonePe, BHIM, PayTM UPI, etc.

IV.When will I get the PaywithRing QR payments in my bank account?

The payments received by the customers will be added against the merchant’s/shop owner’s PaywithRing account. The received payment amount will be transferred to the registered bank account at the end of the day.

V.How can I register myself to get a QR Code?

Download the PaywithRing application and register using your contact number. Our sales person will also visit you and guide you through the complete process.

VI.How will I know that the payment made was successful?

You will be notified via SMS upon successfully receiving the payment. You can also check the transaction details in the PaywithRing application.

VII.What is PaywithRing Instant Credit Line?

PaywithRing Instant Credit Line allows our customers to avail an instant credit line from Rs. 15,000 to Rs. 400,000 within 5 minutes. The merchant loan is based on the transaction volume generated through QR code along with other credit parameters such as bureau score, vintage of merchant, working cycle etc. The approved amount will get credited into the applicant’s bank account instantly.

VIII. Is PaywithRing available in my city?

PaywithRing services are available PAN India. However, we recommend you to please turn on your GPS for our system to determine your location eligibility.

IX.How can I make the repayment of PaywithRing Credit Line?

Repaying back with PaywithRing is very simple. We deduct Daily Installments (EDIs) from your PaywithRing QR Transactions before making settlement in your Bank A/c. This way there is very less burden for repayment from paying back a large installment in 1 shot. You can also make the repayment of your PaywithRing Credit Line online using any one of the multiple repayment options available such as Debit Card, Netbanking, UPI Payments, Wallets, etc.

X.What if I delay the repayment of PaywithRing Credit Line?

We highly recommend our customers to make their repayments on time as delay in repayments may impact your credit score and future loan approval prospects. As per the RBI guidelines, every financial institute is required to share the credit details of the customers with credit bureaus such as TransUnion, Experian, CIBIL, etc. Majority banks and lending institutes rely heavily on the credit score and credit history of the applicant. Also, if the repayment is delayed a penalty amount will be added against your total outstanding.