The Secured Payment (Secured Transfer) is an escrow service. It allows KYC verified eSewa users to send money to another KYC verified eSewa wallet in the safest way possible. The main feature of this service is that the transferred fund is held in Sender’s account during the transaction. After completion of the obligations by the receiver, the sender can release the amount to the receiver or the receiver can request for the release of their amount. The receiver will receive the amount in their eSewa wallet after the sender releases the amount.
Users who wish to use the “Secured Transfer” service must agree with the Terms & Conditions (T&Cs) as below.
DEFINITIONS AND INTERPRETATIONS
In these Terms & Conditions (including the Introduction above), unless the context otherwise requires, the following words and phrases shall have the meanings assigned to them hereunder:
Admin: Representative from eSewa responsible for monitoring and handling the “Secured Transfer” service.
Beneficiary Party: The end party who receives the amount after the resolution of the dispute (can be sender or receiver)
Dispute Settlement Cost: is the cost applicable to the Beneficiary Party (Sender or Receiver) when the disputed Secured Transfer transaction is settled by eSewa. The Dispute Settlement Cost shall be as provided in Tariffs.
Principle Amount: Any amount sent by the Sender to the Receiver using Secured Transfer
Receiver: is a KYC verified eSewa user who receives the transferred amount from the Sender in own eSewa wallet.
Secured Transfer: is an escrow service provided by eSewa where a Sender can send money to Receiver.
Sender: is a KYC verified eSewa user who transfers an amount from own eSewa wallet to another eSewa wallet.
Service Charge: is the charge applicable in Secured Transfer service and is stated in Tariffs
Transaction: is the Secured Transfer transaction between the Sender and the Receiver.
“Transaction Status” in Secured Transfer service means an indicator of stages in relation to the Secured Transfer transaction. Transaction status can be Success, Pending, Under Review, Cancelled or Resolved.
Pending status means the transaction is yet to be complete and the Principal Amount is held on Sender’s eSewa wallet. The Receiver can request the Sender to release the amount after completion of the obligation and the Sender has to release the amount to complete the Transaction.
Complete status means the Transaction has been completed, and the Receiver has received the Principal Amount in the eSewa wallet.
Under Review status means that a complaint has been raised related to the Transaction by the Sender or the Receiver. eSewa will analyze the complaint, resolve the dispute and transfer the amount to the right party.
Cancelled status means the Transaction which was on “Under Review” status has been resolved , and the Principal Amount has been reverted or refunded back to the Sender.
Resolved status means the Transaction which was on Under Review status has been resolved , and the Principal Amount has been released to the Receiver.
eSewa shall not be held liable for any liabilities resulting thereafter for the Transaction in a Complete state.
TERMS AND CONDITIONS:
- If the Secured Transfer option is enabled by Sender while using the Send Money service, the transfer of the amount shall be done through Secured Transfer service.
- Service Charge shall be levied to the Receiver.
- eSewa shall not be liable for any liabilities resulting after the Sender releases the Principal Amount.
- A complaint in relation to the Transaction can be raised by the Sender or the Receiver. Once the complaint is raised, it is the admin who shall have the authority to finally settle and decide on the complaint. Once the complaint is raised it cannot be withdrawn.
- Only Admin shall take the action on the transaction on Under Review status. Upon receipt of the complaint, eSewa shall look into the case, contact both the parties to settle the dispute.
- Dispute Settlement Cost shall be deducted from Principal Amount and be charged to the Beneficiary Party.
- Both the Sender and the Receiver shall be notified via push notification upon action by each of the parties at each stage of the Secured Transfer services.
- Both the Sender and the Receiver shall be notified via push notification upon action by Admin on Under review transaction.
SAFETY OF THE PRINCIPAL AMOUNT:
The principal amount sent by the Sender to the Receiver through Secured Transfer is
- held in Sender’s eSewa wallet
- reflected on Sender’s eSewa wallet
- transferred to the Receiver when the Sender releases the amount
- transferred to the Sender in case of Under Review transaction only when the Admin refunds the amount to the Sender
- transferred to the Receiver in case of Under Review transaction only when the Admin releases the amount to the Receiver
SECURED TRANSFER SERVICE CHARGE:
A service charge set by eSewa is paid for the Secured Transfer service. Similarly, a dispute settlement cost set by eSewa is paid for settlement of the transaction on Under Review status. The service charge and the dispute settlement cost are available on Tariffs.
Under the condition that the Sender and the Receiver fulfill their obligation and the transaction is complete, the receiver pays the service charge. Furthermore, in the event the Transaction on Under Review status is Resolved, the Receiver shall pay the Service Charge.