RBI-Compliant Escrow Settlement Architecture
SafeShip operates pursuant to Reserve Bank of India (RBI) Payment Aggregator and Nodal Account Guidelines (DPSS.CO.PD.No.1810/02.14.008/2019-20). Buyer funds are held in ring-fenced, bankruptcy-remote nodal escrow accounts via RBI-licensed partners and only disbursed upon doorstep physical inspection approval.
Buyer escrow funds never enter SafeShip operational accounts. They are deposited into a designated, legally segregated Nodal Account managed by our institutional banking partners. Funds cannot be attached by creditors, liens, or platform operational expenses.
1. The 3-Party Escrow Settlement Flow
Dispatch Confirmation
The sender or buyer pays only the shipping & transit insurance charge upfront to dispatch the bonded courier.
Doorstep Open-Box Audit
The consignee performs a 10-minute physical unboxing and powers on the gadget to inspect hardware authenticity.
Instant UPI Disbursement
Upon buyer approval, payment is collected via UPI or held escrow is released directly to the seller’s verified bank account in <15 seconds.
2. Daily Institutional Reconciliation
Every transaction is reconciled at T+0 with our trustee bank via automated ISO 20022 and SFTP webhooks. The system verifies:
- UTR balance parity between the Reserve Bank of India settlement switch and SafeShip ledger.
- Dual cryptographic sign-off between the courier officer badge and consignee Delivery OTP.
- Instant reversal of all unfulfilled transactions where delivery was rejected or cancelled.