Digital payments and Fintech companies have made our lives very easy and comfortable. We need not to go to any utility office to physically pay our bills, we can conveniently pay our bills online, banking and payment options are available 24x7x365 and so on. There are clear and undeniable benefits of digital payments. Also Indian Government has been encouraging use of digital payments with various concessions and discounts. So there is nothing wrong in our digital payments world. Right?
Wrong. Be aware of the cyber criminals and technical glitches that are spoiling our digital payments party. God forbid, if a cyber criminal has targeted you and you have lost your money to him, it is next to impossible to recover back your money. Similarly, if your money is struck due to a technical glitch in the payment gateway, the unbearable agony to ensure successful credit back of the amount is a common phenomenon in India.
As far as cyber crimes are concerned, we at PTLB Projects have covered your back adequately. With a simple reference, you can avail our world class Techno Legal Cyber Law services from the TeleLaw Project of PTLB. Cyber Law and Cyber Crimes Investigations are not the only Techno Legal services that are provided by TeleLaw Project but there are plethora of such services that you can avail at affordable rates.
Real challenge is to get back the money once it has left your bank account. Be it cyber criminals or digital payment companies, it is a nightmare to get back your money. Neither your bank nor Reserve Bank of India (RBI) would help you to get back your money. Even if you approach the police, it would not do anything as it is already over occupied with such cases. A dominant majority of such cases are not solved by police so this option is also not workable.
So what should we do? Should we stop using digital payments and Fintech companies services? Of course not. But we expect you to be smart and cover your back and money appropriately before dealing with them. Here is the golden formula that you should use and your money would always remain safe and would be refunded to you in a timely and orderly fashion. Whenever a digital payment company or a Fintech company asks you to use its services, demand that such company must have an ODR Clause of RWL India Project of PTLB. Simple.
ODR stands for online dispute resolution. If your digital payment service provider’s agreement carries an ODR Clause of RWL India portal, you can simply initiate the recovery process by invoking the ODR proceedings. A nominal fees would be charged from both parties and your dispute would be resolved in the shortest possible time with no involvement of police or courts. Since both parties have used the ODR Clause, the decision of the RWL India portal would be binding on both parties and could be enforceable in a court of law.
If you are a big digital payment company, e-commerce company, Government department or individual with high stakes, using ODR Clause is the safety valve that you should never ignore.
So next time an e-commerce company or digital payments service provider asks you for using its services, make it sure that it has already incorporated the ODR Clause of RWL India portal. If it has not done that, ask it to do so or you would not avail its services. This would keep your peace of mind and money safe forever.