Payout Policy

1. Scope & Manual Settlement Architecture

This Payout Policy governs the redemption of confirmed Virtual Silver balances into cash. Amountshop employs a zero automated payment gateway architecture. All disbursements are executed manually by authorized treasury personnel directly through Indian banking rails (IMPS, NEFT, RTGS, UPI) to prevent processing fees, third-party wallet failures, and unauthorized deductions.

2. Minimum Threshold & Limits

• Minimum Withdrawal Threshold: 500 Virtual Silver (equivalent to ₹500.00 INR). Requests below this amount are rejected by the system.
• Maximum Daily Limit: ₹50,000 per affiliate per banking business day, unless higher limits are approved for verified Super Distributors.
• Dual Control Threshold: Payout requests of ₹10,000 or greater require mandatory dual approval (Maker-Checker separation of duties) before bank transfer.

3. Eligible Payment Methods

Affiliates may register beneficiary details for any of the following domestic payment channels:

• Immediate Payment Service (IMPS): Account Number + IFSC Code (24x7 real-time settlement).
• National Electronic Funds Transfer (NEFT): Account Number + IFSC Code (hourly batch settlement).
• Unified Payments Interface (UPI): Registered VPA handle (e.g., username@okaxis or mobile-linked UPI ID).

4. The Payout Lifecycle Statuses

Every withdrawal request transitions through a transparent, audited 7-stage lifecycle:

1. REQUESTED: Submitted by affiliate; funds immediately reserved from available balance to prevent duplicate requests.
2. UNDER_REVIEW: Finance admin verifies beneficiary details and checks conversion legitimacy.
3. APPROVED: Authorized for treasury disbursement.
4. REJECTED: Declined due to beneficiary error or policy breach; reserved funds immediately refunded to wallet.
5. PAID: Manual transfer executed; official bank UTR reference and payment proof voucher attached.
6. FAILED: Bank rejection (e.g. invalid IFSC or account frozen); funds safely returned to member wallet.
7. CLOSED: Archived post-resolution.

5. Bank Proof Receipts & TDS Tax Withholding

Upon payment clearance, a digital, cryptographic payment voucher is generated and accessible in the member's portal. Because Virtual Silver represents non-speculative loyalty reward redemptions, no TDS is deducted under Section 194J/194H unless an individual affiliate crosses statutory annual thresholds (₹20,000+), in which case TDS certificates (Form 16A) will be issued.