Refund Policy

1. Overview

This Refund Policy outlines the guidelines for refunds processed through InnopayPG's payment aggregation platform. As a payment aggregator, we facilitate refunds between merchants and their customers. The actual refund eligibility is determined by each merchant's individual refund policy.

This policy covers both refunds to end customers (processed by merchants) and refunds applicable to merchants using our services.

2. Customer Refunds (Processed by Merchants)

2.1 Refund Process

• Refunds are initiated by merchants through the InnopayPG dashboard or API
• Full or partial refunds can be processed for any successful transaction
• Refunds are processed to the original payment method used
• Multiple partial refunds can be issued until the full amount is refunded

2.2 Refund Timelines

Note: Timelines are indicative and may vary based on the issuing bank's processing time.

2.3 Refund Validity

• Refunds can be initiated within 180 days of the original transaction
• For transactions older than 180 days, please contact support for manual processing
• Refund amount cannot exceed the original transaction amount

3. Merchant Refunds (InnopayPG Services)

3.1 Transaction Fee Refunds

When a merchant processes a customer refund:

• Transaction fees (TDR) are non-refundable for completed transactions
• GST charged on fees is non-refundable
• For failed transactions where money was debited, no fees are charged

3.2 Subscription and Setup Fee Refunds

• Setup fees: Non-refundable once integration begins
• Annual subscriptions: Pro-rata refund within 30 days of purchase
• Monthly subscriptions: No refund; cancel before next billing cycle
• POS device deposits: Refundable upon device return in working condition

3.3 Account Closure Refunds

Upon merchant account closure:

• Pending settlements will be held for 180 days
• Balance will be released after deducting any chargebacks, disputes, or fees
• Security deposits will be refunded after the holding period

4. Chargeback vs Refund

We recommend merchants process refunds promptly to avoid chargebacks.

5. Failed Transaction Refunds

In case of failed transactions where customer's account was debited:

• Auto-reversal is initiated by the payment system
• UPI transactions: Reversed within 24 hours
• Card transactions: Reversed within 5-7 business days
• If auto-reversal fails, contact our support with transaction ID
• No action required from merchant for technical failures

6. Instant Refunds

InnopayPG offers instant refunds for eligible merchants:

• Funds credited to customer within seconds
• Available for UPI, wallets, and select cards
• Requires merchant pre-funding or adequate settlement balance
• Additional convenience fee may apply
• Contact sales to enable instant refunds for your account

7. Refund Failure Scenarios

Refunds may fail due to:

• Customer's bank account closed or invalid
• Card expired or blocked
• Wallet account deactivated
• Incorrect VPA (UPI ID)
• Bank technical issues

Failed refunds are retried automatically. If retries fail, the refund amount is reversed to the merchant's settlement account for alternative refund arrangements.

8. Merchant Guidelines

As per RBI guidelines, merchants must:

• Display their refund policy clearly on their website
• Process legitimate refund requests within 7 days
• Maintain adequate balance for processing refunds
• Provide refund confirmation to customers
• Not charge customers for refund processing

9. Disputes and Escalations

For refund-related disputes:

• Level 1: Contact our support team via dashboard or email
• Level 2: Escalate to our Grievance Officer (response within 7 days)
• Level 3: Approach Banking Ombudsman or RBI if unresolved within 30 days

10. Contact Us