Refund Policy

1. Overview

This Refund Policy outlines the terms and conditions under which refunds are processed for transactions made through the Finvex Technologies platform ("Platform"). As the Merchant of Record, Finvex Technologies facilitates refunds between Merchants and their End Customers.

This policy applies to all transactions processed through the Platform. Individual Merchants may have additional refund terms specific to their products or services, which should be communicated to End Customers at the point of sale.

2. Refund Eligibility

A refund may be issued under the following circumstances:

• The End Customer was charged an incorrect amount due to a system or processing error.
• A duplicate payment was processed for the same transaction.
• The Merchant is unable to deliver the goods or services as described.
• The product or service received is materially different from what was described at the time of purchase.
• The Merchant has agreed to provide a refund in accordance with their own refund policy.
• The transaction was unauthorized or fraudulent, as determined through investigation.

Non-Refundable Conditions

• Change of mind after a digital product or service has been accessed or consumed.
• Failure to use a product or service within its validity period.
• Transactions where the End Customer has received and accepted the goods or services in full.
• Fees charged by the Platform, including the 3.5% platform fee.

3. Refund Timeframes

Refund requests and processing follow these timeframes:

Processing times may vary depending on the payment method used, the End Customer's financial institution, and banking holidays. UPI refunds are typically processed faster than credit card refunds.

4. Refund Process

For Merchants

Merchants can initiate refunds through the following methods:

• Dashboard: Navigate to the transaction in the Finvex dashboard and click "Issue Refund."
• API: Use the Refunds API endpoint to programmatically issue refunds.
• Support: Contact Finvex support at support@finvexpay.com for assistance with complex refund scenarios.

For End Customers

End Customers should first contact the Merchant directly to request a refund. If the Merchant is unresponsive or the issue remains unresolved, End Customers may contact Finvex Technologies at support@finvexpay.com with the following information:

• Transaction ID or order reference number.
• Date and amount of the original transaction.
• Reason for the refund request.
• Any supporting documentation or correspondence with the Merchant.

5. Digital Products

Due to the nature of digital products and services, the following additional conditions apply:

• Refunds for digital products are generally not available once the product has been accessed, downloaded, or consumed.
• If a digital product is defective, inaccessible, or materially different from its description, a refund may be issued upon investigation.
• Software license keys, API access tokens, or digital credentials that have been activated are non-refundable.
• Merchants selling digital products are encouraged to offer trial periods or previews to reduce refund requests.

6. Subscriptions

For subscription-based services processed through the Platform:

• Cancellation of a subscription does not automatically entitle the subscriber to a refund for the current billing period.
• Refunds for the current billing period may be issued at the Merchant's discretion, typically on a pro-rata basis.
• Refunds for previous billing periods are generally not available unless the subscription service was inaccessible or defective during that period.
• Free trial periods that convert to paid subscriptions are subject to refund if the End Customer cancels within 48 hours of the first charge, provided the Merchant's terms permit this.
• Annual or long-term subscriptions may be eligible for pro-rated refunds if cancelled within the first 30 days, subject to Merchant terms.

7. Platform Fee on Refunds

The Finvex Technologies platform fee of 3.5% is non-refundable. When a refund is processed:

• The End Customer receives a full refund of the transaction amount.
• The platform fee of 3.5% that was deducted from the original transaction is not returned to the Merchant.
• The refund amount is deducted from the Merchant's pending settlement balance or future settlements.
• If the Merchant's settlement balance is insufficient to cover the refund, the outstanding amount will be recovered from subsequent settlements.

8. Partial Refunds

Merchants may issue partial refunds for a portion of the original transaction amount. Partial refunds are subject to the following:

• Multiple partial refunds may be issued against a single transaction, provided the total does not exceed the original transaction amount.
• The platform fee is calculated on the original transaction amount and remains non-refundable regardless of partial refunds.
• Partial refunds are processed using the same payment method as the original transaction.

9. Chargebacks

A chargeback occurs when an End Customer disputes a transaction directly with their bank or card issuer. As the Merchant of Record, Finvex Technologies manages the chargeback process:

• Merchants will be notified of chargebacks promptly and must provide supporting documentation within 7 business days.
• Chargeback amounts, including any fees imposed by the payment network, will be deducted from the Merchant's settlement balance.
• Finvex Technologies will represent the Merchant in chargeback disputes where sufficient evidence is provided.
• Merchants with excessive chargeback rates (exceeding 1% of transactions) may be subject to account review, additional monitoring, or termination.
• We strongly recommend that Merchants issue proactive refunds to avoid chargebacks, which carry additional fees and administrative costs.

10. Dispute Resolution

If you are dissatisfied with the outcome of a refund request or chargeback decision, you may pursue the following dispute resolution process:

• Step 1: Contact Finvex support at support@finvexpay.com with your dispute details and any additional evidence.
• Step 2: Our dispute resolution team will review the case within 10 business days and provide a written response.
• Step 3: If the dispute remains unresolved, the matter may be escalated to mediation or arbitration in accordance with our Terms of Service.

All disputes are handled in accordance with applicable Indian consumer protection laws and the Arbitration and Conciliation Act, 1996.

11. Exceptions

Finvex Technologies reserves the right to make exceptions to this Refund Policy on a case-by-case basis. Exceptions may be considered in circumstances including but not limited to:

• Platform outages or system failures that directly caused transaction issues.
• Verified cases of fraud or unauthorized transactions.
• Regulatory or legal requirements mandating refunds beyond standard terms.
• Compassionate or exceptional circumstances at the sole discretion of Finvex Technologies.

12. Contact Us

For refund-related inquiries, please contact us:

We aim to respond to all refund inquiries within 2 business days. For urgent matters involving unauthorized transactions, please indicate "URGENT" in your email subject line.