Financial Transaction Reversal, Refund & Cancellation Framework

C. Refund & Cancellation Policy

1. Electronic Core Settlement and FinTech Transaction Reversals

In accordance with the standard turnaround time (TAT) optimization frameworks instituted by the National Payments Corporation of India (NPCI) and the RBI, any transaction executed via AEPS, BBPS, or core Payout networks that results in a definitive "Failed Status" due to network packet drops or core banking switch latency — wherein the User's originating account is debited but value is not settled — shall be processed via an automated reconciliation engine. The funds shall be systemically reversed to the originating funding node within a strict window of T+3 operational days.

2. Travel Aggregator Dynamic Ticket Reversal Framework (ZePay Safar)

All transaction cancellations and standard monetary refund workflows associated with aviation, rail, or hospitality bookings are governed strictly by the underlying transactional policies enforced by the respective primary inventory supplier (operating carrier or hotel institution). ZePay Money, upon receiving an authenticated transaction cancellation request, shall compute and deduct its baseline administrative operational processing fees and transmit the net refundable balance directly to the original payment source within 5 to 7 operational bank settlement days.

3. Financial Credit Products & InsurTech Free-Look Provisions

All core processing and administrative underwriting origination fees applied during loan processing or facility scaling remain entirely non-refundable. For products issued under the ZePay Suraksha umbrella, all policyholders are granted a mandatory, statutory 15-day Free-Look Period from the date of digital policy receipt, as dictated by the Insurance Regulatory and Development Authority of India (IRDAI). Within this specific timeline, the consumer may formally cancel the policy on grounds of dissatisfaction, and receive a complete refund of premium payments, subject only to deductions for prorated risk coverage and administrative medical exam expenses.

4. Refund Request Process

To initiate a refund or cancellation request, contact team@zepay.money with your transaction reference number, registered mobile number, and reason for the request. Our team will process eligible refunds within the timelines specified above.