How does facilitate payment transactions?

How does facilitate payment transactions?

Blog Article

The GEM online registration platform facilitates payment transactions through a secure and efficient payment gateway system. Here’s how it works:

  1. Integrated Payment Gateway: The platform uses a robust payment gateway that supports multiple payment modes, including net banking, credit/debit cards, and UPI.

  2. Escrow Account: Payments are processed through an escrow account, ensuring that funds are securely held until the transaction is completed satisfactorily.

  3. Payment Confirmation: Once a purchase order is completed, the buyer confirms receipt of goods or services, triggering the release of payment to the supplier.

  4. Timely Disbursements: The platform ensures that payments are disbursed within the stipulated time frame, reducing delays and improving cash flow for suppliers.

  5. Transaction Tracking: Both buyers and suppliers can track the status of their payment transactions in real-time through their account dashboards.

  6. Automated Invoicing: The platform generates automated invoices and payment receipts, simplifying record-keeping and accounting processes.

  7. Dispute Management: In case of payment disputes, has a resolution mechanism to address and resolve issues promptly.

By offering a secure and transparent payment system, enhances trust and efficiency in the procurement process.

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