PayUMoney — fraud / scam by payumoney

Website:

www.payumoney.com

Payumoney is one of the biggest scam and fraud that is going on.

If you are a small to medium level merchant than i can guarantee you that you will get scammed. It’s just a matter of time.

This is how they scam.

When payments are small and not many they will send it to your bank account in time.
You will gain more confidence in them
Once you start receiving big payments, then one fine day they will stop depositing in your bank account. And they won’t even inform you.
You will think that there might be some delay and won’t stop your customers from paying
Finally you will contact them. For which they will reply after 3–4 days (At best).
During all this time, a lot of money would have accumulated at payumoney.
Now their customer service will flatly decline to transfer money into your bank account. They will ask for various proofs. It doesn’t matter what proof you give they will keep asking something.

Or they will just stop replying to you.

You can’t contact them on phone so there is no way for you to do anything.

They will not even refund money to your customers. So either you have to refund money to your customer from your pocket or provide goods/service to your customer for free.

You will not go to police or court because that will cost you even more. Plus payumoney has their own legal team and much more money than you. So you cant win them in court as well.

Eventually, you will just give up.

Payumoney will keep all your money.

And scam someone else.

The end.