Refund & Cancellation Policy

This Refund and Cancellation Policy outlines the terms and conditions for refunds, chargebacks, and service cancellations at NovaPay Fintech Solutions Private Limited.

1. Transaction Refunds

1.1 Refund Requests

Refund requests for transactions processed through our platform should be initiated by the merchant through their dashboard or by contacting our support team. Refund eligibility is subject to:

• The refund policies of the respective merchant
• Transaction being within the refund window (typically 180 days)
• Availability of funds in the merchant account
• Compliance with applicable payment network rules

1.2 Refund Processing

Once a refund is approved, it will be processed within 5-7 business days. The actual credit to the customer's account may take additional time depending on the issuing bank and payment method used.

1.3 Partial Refunds

Merchants may initiate partial refunds for transactions where applicable. Partial refunds follow the same processing timeline as full refunds.

2. Chargebacks

Chargebacks occur when a customer disputes a transaction with their issuing bank. Our chargeback policy includes:

• Immediate notification to the merchant upon chargeback initiation
• Assistance in providing documentation for chargeback disputes
• Temporary hold on the disputed amount
• Resolution based on card network rules and evidence provided

Merchants are encouraged to maintain proper transaction documentation and implement fraud prevention measures to minimize chargebacks.

3. Service Fee Refunds

Service fees charged by NovaPay are generally non-refundable. However, refunds may be considered in the following cases:

• System errors resulting in incorrect charges
• Duplicate processing of fees
• Service unavailability due to platform issues

4. Service Cancellation

4.1 Cancellation by Merchant

Merchants may request to cancel their services by:

• Submitting a written cancellation request to our support team
• Providing at least 30 days advance notice
• Settling all pending transactions and dues
• Completing the account closure process

4.2 Cancellation by NovaPay

We reserve the right to cancel services in the following circumstances:

• Violation of our Terms and Conditions
• Fraudulent or suspicious activities
• Non-compliance with regulatory requirements
• Excessive chargebacks or disputes
• Failure to maintain required documentation

4.3 Post-Cancellation

Upon cancellation, any remaining balance in the merchant account will be settled within 45-90 days, subject to a holdback period for potential chargebacks and refunds.

5. Dispute Resolution

For any disputes related to refunds or cancellations, please contact our support team. We aim to resolve all disputes fairly and promptly. If not resolved through direct communication, disputes may be escalated as per the terms outlined in our merchant agreement.

6. Policy Updates

We may update this policy from time to time. Merchants will be notified of significant changes via email or through the merchant dashboard.

7. Contact Us

For refund requests, cancellations, or questions about this policy: