Refund Policy

Eligibility for Refunds

Refunds may be provided in the following circumstances:

• Failed Transactions: If a transaction fails but funds were debited from your account
• Duplicate Charges: When you are charged multiple times for the same transaction
• Incorrect Amount: If you were charged an incorrect amount
• Service Errors: Technical issues on our platform that result in incorrect charges
• Unauthorized Transactions: Fraudulent transactions reported within 48 hours

Non-Refundable Items

The following are not eligible for refunds:

• Successfully Completed Transactions: Payments that have been successfully processed and delivered
• Service Fees: Monthly subscription fees, setup fees, or account maintenance charges
• Third-Party Services: Charges for recharges, bill payments, or vendor payments that were successfully processed
• Chargeback Fees: Fees incurred due to payment disputes or chargebacks
• Currency Conversion Fees: Fees for international or cross-border transactions
• Merchant Service Violations: Refunds requested after policy violations or account termination

Refund Processing Time

Once your refund request is approved, processing times vary based on the payment method:

Credit/Debit Card Refunds

• Processing Time: 5-7 business days after approval
• The refund will appear in your original payment method
• Bank processing may take additional 3-5 business days

Bank Account Refunds

• Processing Time: 3-5 business days after approval
• Credited to the bank account linked to your Payratna account
• NEFT/RTGS transfers typically complete within 24-48 hours

Wallet/UPI Refunds

• Processing Time: 1-3 business days after approval
• Instant refunds in some cases
• Credited to the original wallet or UPI ID

How to Request a Refund

To request a refund, please follow these steps:

1. Login to Your Account: Access your Payratna dashboard
2. Navigate to Transactions: Go to Transaction History section
3. Select the Transaction: Find and select the transaction you want refunded
4. Click "Request Refund": Fill out the refund request form
5. Provide Details: Include transaction ID, date, amount, and reason for refund
6. Attach Supporting Documents: Upload screenshots, receipts, or proof if applicable
7. Submit Request: Submit your refund request for review

Alternatively, you can contact our support team:

• Email: refunds@payratna.com
• Phone: +91 1800-123-456 (Mon-Sat, 9 AM - 6 PM)
• Support Ticket: Through your account dashboard

Refund Investigation Process

When you submit a refund request, we follow this process:

1. Initial Review (24-48 hours): Your request is reviewed for completeness and validity
2. Investigation (3-5 business days): We verify the transaction details with banks and payment partners
3. Decision Notification: You will receive an email with the decision (approved or denied)
4. Refund Processing: If approved, refund is initiated within 24 hours
5. Completion: Funds are credited to your original payment method

Cancellation Policy

Transaction Cancellations

You may cancel a transaction under these conditions:

• Transaction is in "Pending" status and not yet processed
• Cancellation request is made within 30 minutes of transaction initiation
• Scheduled payments can be cancelled before execution time

Account Cancellation

To cancel your Payratna account:

• Submit a written cancellation request via email
• Complete all pending transactions
• Pay all outstanding fees and charges
• Withdraw remaining balance (after 30-day hold period)
• No refund of setup fees or subscription fees for the current billing cycle

Merchant Refund Obligations

If you are a merchant using our services:

• You are responsible for issuing refunds to your customers
• Customer refunds must be processed within 7 business days of approval
• Transaction fees charged by Payratna are non-refundable
• Excessive refund rates may result in account review or restrictions
• You must maintain a clear refund policy for your customers

Dispute Resolution

If your refund request is denied and you disagree with the decision:

1. Contact our customer support team at disputes@payratna.com
2. Provide additional evidence or documentation
3. Request escalation to senior support team
4. Allow 5-7 business days for re-evaluation
5. Final decision will be communicated via email

For unresolved disputes, you may contact:

• Banking Ombudsman (for banking-related issues)
• Consumer Court in your jurisdiction
• Reserve Bank of India (RBI) for payment system grievances

Partial Refunds

In certain cases, partial refunds may be issued:

• Service downtime or performance issues (prorated refund)
• Partially fulfilled services or incomplete transactions
• Settlement of disputes where both parties share responsibility
• Promotional credit adjustments

The amount of partial refund will be determined on a case-by-case basis.

Policy Updates

We reserve the right to modify this Refund Policy at any time. Changes will be effective immediately upon posting on our website. Continued use of our services after changes constitutes acceptance of the updated policy.