Billing and invoices

LotusPay issues invoices setup fees and for mandate and debit activity.

Depending on the pricing we have agreed with you, we will send you invoices for setup fees and period mandate/debit activity.

For periodic mandate/debit activity, after each billing period, we send you an invoice to pay our fees for the mandates and debits processed in the period. The line items include:

• Mandate CREATE physical variant - the fee for processing a physical scan mandate.

• Mandate CREATE emandate_api variant - the fee for processing an API eMandate.

• Mandate CREATE emandate_esign variant - the fee for processing an Aadhaar eSign eMandate.

• ACH Debit Transaction - the fee for processing a debit transaction.

• Mandate CANCEL - the fee for cancelling an active mandate.

Each fee is incurred when the input is acknowledged by NPCI. This means we do not charge fees for source creation, for customer attempting a source and failing, for ACH debit rejected by NPCI (as opposed to returned by destination bank).

If you are using our optional SMS service, the fees are separate. See the SMS service article for more details.

To verify mandate and debit count, you can view your usage in the dashboard:

• Mandates CREATE: Go to Dashboard > Mandates and filter by Acknowledged Date for the billing period. For convenience there is a drop-down with preset filters such as Last Month and Previous Quarter. You may also filter by mandate variant.

• ACH Debit Transaction: Go to Dashboard > ACH Debits and filter by Charge Date for the billing period, and select status returned, extended and confirmed only (exclude other statuses). Hold down the control key to select multiple statuses. For convenience there is a drop-down with preset filters such as Last Month and Previous Quarter. 

The fee may include or exclude sponsor bank and NPCI charges.

• Including sponsor bank and NPCI fees: If you are using our aggregator services with our sponsor bank.

• Excluding sponsor bank and NPCI fees: If you're using your own sponsor bank.

Other points to note:

• The invoice states the billing period. Your billing period is how often you receive invoices, and it usually depends on your volume. We send invoices on monthly, quarterly or yearly basis. Monthly invoices are from the first date of a calendar month to the last date of the calendar month. Quarterly invoices are per financial quarter (Apr-Jun, Jul-Sep, Oct-Dec, Jan-Mar). Yearly invoices are from 1st April to 31st March each year.

• Invoices are issued within a few days of the end of a billing period.

• If you have multiple merchant accounts with us, we will usually send you separate invoices for each merchant account. You can identify the invoice by the merchant account ID included in the invoice.

• We are registered for GST, so we charge SGST/CGST (for intra-state in Haryana) or IGST (for inter-state) at the prevailing rate, which is currently 18%.

• If you are registered for GST, we include your GSTIN in the invoice and in our monthly GST return filings, hence you can benefit from input credit.

• Invoices are digitally signed and on our letterhead.

• Invoices contain our bank account details for making payment to us.

• Our invoices are always sent from accounts_receivable@lotuspay.com and you can reply to the same email address with any billing queries.

• Invoices are due immediately upon issue, unless agreed otherwise.

• You should reply to the invoice email with a payment advice, including details of the payment and your TDS calculation if any.

• TDS deduction, if any, should be done under Section 194C (standard 2%) or Section 194J (standard 10%) only. You should send us TDS certificates (Form 16A) regularly.

• We send automatic reminders for unpaid invoices.

• If you fail to pay an invoice promptly, we will suspend your merchant account.