anilkkjangid
TF Neo
Yesterday, I thought of applying the paisabazaar Step Up card, secured by FD with SBM bank, primarily for Rupay Select variant. The application was made through pb android app. After the KYC, the payment link appeared, I chose netbanking, the payment happened, but pb app showed "payment failed". Amount had been deducted from bank account. Razorpay sent a notification that payment failed, and if not reflected in merchant account, it will be returned in a week.
Curiously, 90 minutes later, I retried the transaction in pb app and the same thing happened. This time, the payment gateway showed success, but pb app showed "unauthorised request". The money from bank account had been deducted again. A total of 1L blocked for virtually no fault of mine. I immediately emailed the screenshots to Paisabazaar, razorpay and SBM bank for clarification attaching all the relevant screenshots.
Today, received 2 emails from razorpay saying both transactions have been credited into paisabazaar account successfully, manual reconciliation by PB perhaps during business hours.
I called the PB custcare twice today, both times the lady on phone asked me to wait 48 hours for PB account team to respond to my emails, and acknowledge if they received these payments at all. In what world can this response be considered apt in current digital age. They can fetch my information from all credit bureaus in a few seconds, can validate my KYC in a few seconds with PAN and UIDAI databases, but can't confirm a simple thing.
What kind of scam such campaigns might be doing? Scam is probably an exaggeration, but something is fishy here. If average transaction amount is 20000, and they revolve only 100 such customers each day, its 20L every day for at least 10 days, a simple 3.5% interest for 10 days comes out to be around 2000 rs. Appears miniscule, right? But we don't know how PB might be rotating this money and may well be making much more than my assumptions. I have taken a very modest number, perhaps PB is revolving more than a few hundred such transactions everyday and this rotating cash flow is many times more than my assumptions. Any ideas from the forum if someone experienced this?
Curiously, 90 minutes later, I retried the transaction in pb app and the same thing happened. This time, the payment gateway showed success, but pb app showed "unauthorised request". The money from bank account had been deducted again. A total of 1L blocked for virtually no fault of mine. I immediately emailed the screenshots to Paisabazaar, razorpay and SBM bank for clarification attaching all the relevant screenshots.
Today, received 2 emails from razorpay saying both transactions have been credited into paisabazaar account successfully, manual reconciliation by PB perhaps during business hours.
I called the PB custcare twice today, both times the lady on phone asked me to wait 48 hours for PB account team to respond to my emails, and acknowledge if they received these payments at all. In what world can this response be considered apt in current digital age. They can fetch my information from all credit bureaus in a few seconds, can validate my KYC in a few seconds with PAN and UIDAI databases, but can't confirm a simple thing.
What kind of scam such campaigns might be doing? Scam is probably an exaggeration, but something is fishy here. If average transaction amount is 20000, and they revolve only 100 such customers each day, its 20L every day for at least 10 days, a simple 3.5% interest for 10 days comes out to be around 2000 rs. Appears miniscule, right? But we don't know how PB might be rotating this money and may well be making much more than my assumptions. I have taken a very modest number, perhaps PB is revolving more than a few hundred such transactions everyday and this rotating cash flow is many times more than my assumptions. Any ideas from the forum if someone experienced this?
