Refund Policy

1.Scope of Policy

This Policy applies to:

• Card payments (Visa, Mastercard, Verve, etc.)

• Bank transfers & virtual account payments

• Wallet-based transactions

• Alternative Payment Methods (APMs)

2.General Principles

• Once a transaction is successfully authorised and settled, it is deemed final unless reversed or refunded in accordance with this Policy.

• Refunds are initiated only by the Merchant, not by the Customer directly with the PSP.

• The PSP does not provide cash refunds under any circumstances.

3.Eligibility for Refund

A refund may be processed only under the following conditions:

a. Duplicate / overcharged transaction - Yes Refund Allowed

b. Failed transaction but customer debited - Yes Refund Allowed

c. Goods / services not delivered by merchant - Subject to merchant approval

d. Customer dispute without merchant approval - No Refund Not Allow

e. Fraudulent transaction (confirmed) - Yes, after investigation

f. Merchant operational error - Yes Refund Allowed

4.Refund Processing Time

• Card Payments - 7 to 14 business days

•Bank Transfers / Virtual Accounts - 3 to 7 business days

•Wallet Transactions - Up to 48 hours

Timelines are subject to issuing bank and network processing rules

5.Refund Workflow

1. Customer requests refund from Merchant.

2. Merchant submits refund request via PSP dashboard or API.

3. PSP validates the request.

4. Refund is processed to the original payment source only.

5. Confirmation is shared with Merchant.

6.Partial Refunds

• Partial refunds are supported only where the merchant system supports itemised refunds.

• Each partial refund is treated as an independent transaction.

7.Chargebacks & Disputes

• Customers may initiate disputes directly with their issuing bank.

• Chargeback processing timelines and penalties are governed by card scheme rules.

• PSP reserves the right to debit the merchant settlement account for:- Chargeback amount , Scheme penalties, Investigation fees

8.Reversals

A reversal occurs when a transaction is cancelled before settlement

a. Transaction reversed before settlement - Funds returned automatically

b. Transaction already settled - Refund must be processed

9.Merchant Obligations

Merchants must:

• Display their own refund policy clearly on their website.

• Respond to refund requests within 48 hours.

• Maintain sufficient balance for refund processing.

10.Non-Refundable Transactions

Refunds will not be processed for:

• Cash withdrawals

• Cryptocurrency transactions

• Transactions older than 180 days

• Services already fully delivered

11.Right to Withhold Refunds

The PSP may withhold refunds if:

• Merchant account is under investigation

• There is suspicion of fraud or misuse

• Regulatory or legal hold is placed on the account

12.Amendments

This Policy may be amended at any time to comply with regulatory, banking, or scheme requirements.