What is a Merchant of Record (MoR) and why do Indian SaaS companies need one?

A Merchant of Record is the legal seller of your product to the end customer. Flux by Paytring acts as the MoR for Indian SaaS and digital exporters, taking on responsibility for global sales tax, VAT, GST collection and remittance, chargeback handling, and FIRC issuance, while you focus on building your product.

How is Flux by Paytring different from Stripe, Paddle, Lemon Squeezy, or Dodo Payments?

Flux is built specifically for Indian exporters. Unlike Stripe (not a true MoR in India), and unlike Paddle, Lemon Squeezy, or Dodo Payments which are not India-native, Flux settles directly to your Indian bank account in INR, issues FIRC for RBI compliance on every settlement, and is operated under an Indian payments stack (Paytring) backed by a US Delaware entity.

How does Flux settle payouts to Indian bank accounts?

Flux collects payments globally in USD and other currencies, then settles net of fees to your Indian bank account in INR on a predictable schedule. Each settlement comes with an automatic FIRC for RBI and tax compliance.

What does Flux by Paytring cost?

Flat 5% + $0.30 per successful transaction. No setup fees, no monthly fees, no hidden FX markups. Tax remittance, FIRC, and INR settlement are included.

Who can sign up for Flux?

Indian-registered SaaS companies, digital creators, indie hackers, and digital exporters who want to sell globally without setting up foreign entities.

Terms & Conditions — Flux by Paytring

Welcome to Paytring. These Terms and Conditions ("Terms") govern your use of our website, applications, APIs, and services ("Services"). By registering, accessing, or using the Services, you ("Merchant", "You", or "Your") agree to be bound by these Terms.

1. Overview of Our Services

The terms below provide a general description governing the Services that Paytring (Seamless Fintech Innovations, Inc.) provides to the Merchant.

Nature of Service: Paytring operates strictly as a B2B payment technology provider and software infrastructure layer. We act solely as a payment collection agent on behalf of registered Merchants to facilitate cross-border settlements. We are not a bank or financial institution. Our role is limited to providing technology infrastructure to support your operations.

Third-Party Providers: In providing the Services, Paytring avails services provided by various third-party service providers, including but not limited to licensed banks, payment service providers (e.g., Stripe, Xflow), and other technology platforms. The Merchant agrees that the Services may be subject to the terms and conditions prescribed by such third parties.

2. Merchant Responsibilities and Disclaimers

This clause is fundamental to your use of our Services. By utilizing our infrastructure, you acknowledge and agree that Paytring is not a party to the underlying transaction between you and your End-Customer.

You are solely responsible for:

Product Delivery: All customer interactions, product delivery, service quality, and fulfillment.
Transaction Risks: The Company is not responsible for any risks associated with the sale, quality, merchantability, delivery, non-delivery, or delay in delivery of the Products, in any manner whatsoever. The Merchant is solely responsible for the same.
Customer Support: Managing your customer relationships, handling inquiries, processing refunds, and resolving disputes.

Paytring acknowledges that the Services do not involve any services or assistance in respect of the physical or digital delivery of any goods and/or services.

3. Taxes and Regulatory Compliance

All fees charged by Paytring are exclusive of applicable taxes.

Tax Liability: You are the "Seller of Record." Therefore, you are solely responsible for determining, assessing, collecting, and fulfilling any tax obligations (including US Sales Tax, VAT, or Indian GST), financial, or regulatory obligations that apply to your use of the Services or the sale of your products.

Regulatory Reporting: Paytring does not provide assistance with regulatory or compliance reporting, filings, and/or submissions (with the exception of generating the automated e-FIRC via our AD banking partners for successful INR settlements).

4. Due Diligence and Account Information

To comply with global Anti-Money Laundering (AML) and Know Your Business (KYB) obligations, Paytring conducts strict due diligence checks.

We reserve the right to ask for Account Information to verify the identity and authority of the Merchant, beneficial owners, and directors.
You are responsible for the accuracy of any Account Information provided to the Company during onboarding and must keep us informed of any material changes to your business activities.
Paytring reserves the right to postpone account opening, temporarily block the account, or not process any transaction that it finds suspicious, illegal, fraudulent, or violative of these Terms.

5. Fees, Reserves, and Payouts

Fees: You agree to pay the platform usage fees, transaction fees, and FX markups as outlined in your specific pricing agreement.
Reserves: The Company may hold a certain percentage of the funds from every payout (or require an advance fee bucket) as a reserve to fulfill any claims of refunds, chargebacks, or disputes arising from the Merchant's end customers.
Disbursements: Settlements to your localized bank account are subject to the processing timelines of our banking partners and corresponding bank holidays.

6. Use of Services and Restrictions

You may use the Services for lawful business purposes only. You must not:

Attempt to reverse-engineer, copy, or resell any part of our Services or APIs.
Use our platform for activities that are fraudulent, deceptive, or unlawful.
Process transactions for prohibited or high-risk industries without explicit prior written consent from Paytring.

Any violation of these restrictions may lead to immediate account suspension or termination without notice.

7. Intellectual Property

All software, content, designs, trademarks, API documentation, and platform components remain the exclusive property of Paytring or its licensors. You may not claim ownership of any part of the platform or attempt to replicate or compete with our platform using our proprietary data.

8. Indemnification

You agree to indemnify and hold harmless Paytring, Seamless Fintech Innovations, Inc., its affiliates, partners, and employees against any loss, damage, or legal cost resulting from:

Misuse of the Services.
Breach of these Terms.
Any third-party claims related to your business, including disputes with your customers regarding product delivery, chargebacks, or actions taken by tax authorities or regulators.

9. Limitation of Liability

To the fullest extent permitted by law:

Paytring is not liable for any indirect, incidental, or consequential damages.
Our total liability shall not exceed the fees paid by you to Paytring in the last 12 months.
We do not guarantee uninterrupted access to the Services and are not responsible for service disruptions caused by third-party banking partners or network outages.

10. Termination and Suspension

We may suspend or terminate your access if:

You violate these Terms or applicable law.
There is suspected fraudulent, chargeback-heavy, or harmful activity.
Your account remains inactive for an extended period.

You may also terminate your account at any time by contacting us in writing, provided all pending liabilities and chargebacks are cleared.

11. Governing Law and Dispute Resolution

These Terms shall be governed by and construed in accordance with the laws of the State of Delaware, USA, without regard to its conflict of law principles. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the state and federal courts located in Delaware.

12. Contact Information

For questions, legal notices, or compliance inquiries, please contact us at:

Entity: Seamless Fintech Innovations, Inc.

US Address:
Seamless Fintech Innovations, Inc.
131 Continental Dr, Suite 305
Newark, DE 19713, USA

India Operations:
Paytring (Seamless Fintech Innovations Pvt Ltd)
2nd Floor, Plot No. 4, Minarch Tower, Sector 44
Gurugram, Haryana 122002, India · CIN: U62099HR2023PTC110567

Email: legal@paytring.com