Paydala FAQs

Answers to common Paydala questions

General Questions

Paydala is a secure and integrated payment platform that offers a host of services on behalf of your merchants/operators, such as:

  • Payments – Facilitates deposit and withdrawal of funds using various methods such as online banking, debit, credit, and prepaid cards to buy online goods and services.
  • Digital Wallet – Opens a digital wallet account to facilitate payments.

Paydala platform offers several benefits to end-users, making it a convenient and efficient payment experience. Using Paydala, you can:

  • Experience minimum friction and efficient onboarding and payment processing.
  • Perform quick and easy deposits and instant withdrawals.
  • Get balance and transaction history information at your fingertips.
  • Manage payment methods efficiently.

  • Paydala handles your personal and financial information and is required to comply with applicable regulatory requirements. By accepting the Paydala’s Privacy Policy and Terms of Use, you are giving your consent to Paydala to collect, process, and use your personal and financial information. You should read the Paydala privacy policy and terms of use.
  • Your bank and credit card information are tokenized and stored securely, and all other information is encrypted. Paydala will not sell your personal information. You should read the Paydala privacy policy and terms of use.

  • A digital wallet account is opened for you to facilitate your payments. Any balances in the digital wallet are held in the custodian account at GBank, and all fund movements pertaining to your payments flow through the banking system. Your account balance in the digital wallet is FDIC insured up to the current limit of $250,000.

    Likewise, Paydala uses third-party processors for the processing of ACH, card, and other digital wallet payments and hence the terms of use of these processors, where relevant, apply to you.

Paydala operates exclusively in the United States market, and all transactions are processed in USD (United States Dollar). This means that all your transactions and balances will be in U.S. dollars.

No. Paydala does not charge any fees for the payment transactions with the exception of an inactivity fee of $2.95 per month that is charged only if your Paydala wallet account remains inactive for more than 6 months and has a positive balance in it. 'Inactivity' refers to no deposits, transfers, or withdrawals from your Paydala digital wallet account.

A digital wallet account is opened to facilitate your payments. Any balances in the digital wallet are held in the custodian account at GBank, and all fund movements happen through the banking system. Your account balance is FDIC insured up to the current limit of $250,000.

Likewise, Paydala uses third-party processors for the processing of ACH, card, and other digital wallet payments and hence the terms of use of these processors, where relevant, apply to you.

No. There is no credit/overdraft facility associated with your Paydala wallet account.

If you need make an inquiry or track a specific transaction, you must contact your merchant/operator. You may also send an email at contact@paydala.com to Paydala. You must include your phone number and transaction reference number with your inquiry.

Each transaction is assigned a unique transaction reference number, which serves as a unique identifier for that specific transaction. This transaction reference number can be found in the email/SMS confirmation that Paydala sends to you as well as is available on the Deposit or Withdrawals Successfully Processed screen.

You must contact the financial institution where you have your account and also notify your merchant/operator about the unauthorized transaction.

You can also send an email at contact@paydala.com to Paydala.

No, your funds in your digital wallet do not earn or pay any interest.

No, there are no minimum balance requirements.

KYC

Know your Customer (KYC) is a regulatory compliance to verify your identity when you perform a certain payment transaction.

In certain cases, KYC check is required to be performed to verify your identity and to make sure that you are who you say you are. This check is to mitigate identity theft, money laundering, financial fraud, and other financial crimes in connection with your account.

Paydala also performs device verification and other checks to validate your digital ID.

The ID validation code is a part of verifying your identity. You can receive the one-time ID validation code on your registered email ID or via SMS on your registered mobile phone number.

The ID validation code remains valid for 10 minutes after which the code expires. You can request for a new code if the initial one has expired or if you haven’t received it.

Geolocation

In certain transactions, the requirement to share your geolocation before proceeding with the payment transactions is mandatory as per state regulations. In those cases, where Paydala is unable to determine your location, you will not be able to proceed with the transaction.

Deposits

You can use the following funding sources, please ensure the funding source is an active account and has sufficient balance in it.

  • Bank account (only via online access)
  • Credit card
  • Debit card
  • Prepaid card
  • Other named digital wallets when available

At a given time, you are allowed to add only two debit or credit cards and two personal bank accounts to fund your Paydala wallet account. If you wish to add a new funding source, such as another card or bank account, you need to first delete one of the existing funding sources, and only then you can replace it with a new source.

You can only add two debit or credit cards and two personal bank accounts to fund your Paydala wallet. If you wish to add a new source, such as another card or bank account, you need to delete one of the existing sources.

No, you cannot add your business bank account or business credit card to fund your payment transaction. You can only add your personal bank account and credit card.

Yes, for deposits and withdrawals, there is a transaction limit of $2000 each day. However, the total balance in your wallet at any given time cannot exceed $2000.

Yes, you can change or add another physical address on your Paydala account. You may be required to go through the Know Your Customer (KYC) process again.

There may be several reasons for the deposit to fail. Some of these are:

  • Transaction is declined by your financial institution
  • Insufficient balance or credit in your account
  • Incorrect account information, such as your account number, name on account, address associated with your account, CVV information on your card, expiration date on your card

If you see “Paydala Inc” mentioned in your bank and card statements, it serves as an identifier for transactions made through Paydala.

Deposits Performed Using Bank Account

If your bank is not listed, return to the Choose deposit source screen by clicking the arrow in the upper-left corner of your screen that will enable you to select your deposit source again. Choose:

  • Visa/MC debit card for bank deposit
  • Credit/Prepaid card for card deposit
Deposits Performed Using Credit Cards

You can use the following credit and prepaid cards:

  • MasterCard
  • Visa
  • American Express (U.S. issued cards)
  • Discover (U.S. issued cards)

You can use the following debit cards:

  • MasterCard
  • Visa
Withdrawals

You can withdraw funds with Paydala directly into your linked bank account that was originally used to deposit the funds, or through a debit card that was originally used to deposit the funds.

To withdraw you must select a bank account as a funding source, and sign in online to your bank account to receive the withdrawal amount.

You can only withdraw funds back to the same Visa or Mastercard debit card that you used for depositing funds with Paydala.

The processing time differs, if you are withdrawing funds using an online bank account or a debit card:

  • Withdrawal to bank account (via online): If you are withdrawing funds into your bank account using online access, your funds will be reflected into your bank account within two or three business days.
  • Withdrawal to debit card: If you are withdrawing funds into your debit card, your funds will be reflected into your bank account within 30 minutes.

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