Refund Policy

Chargeback Policy

A "Chargeback" refers to a refund request initiated by the Reserve Bank of India, cybercrime cell, or any other governmental authority, or by Service Providers under governmental direction for the following reasons:

• User refusal to honor payment or demand refund due to product or service discrepancies, defects, deficiencies, incomplete delivery, or unsatisfactory quality.
• Payments returned by the Acquiring Bank for any reason.
• Charges resulting from alleged security breaches.

Once a payment is initiated via the Application, retracting it may not be feasible due to the swift movement of funds. Therefore, neither the Acquiring Bank nor Instant Payz bears responsibility for chargebacks or refunds. Users acknowledge that Instant Payz is not liable for any chargeback-related issues.

Any payment retractions must be settled directly between the User and the Payee, and chargebacks can only proceed if the Payee refunds the amount. Instant Payz disclaims liability in this regard.

Instant Payz is not obligated to make payments for chargebacks unless it receives the requisite amounts from relevant authorities or Service Providers. Upon receipt of a chargeback request, Instant Payz will transfer any received amounts to the User within 7 working days.

Cancellation and Refund Policy

Initiated Transactions:

• Once a Transaction is initiated, it cannot be canceled after processing.

User Responsibility:

• Users must accurately add Payee bank account details to the Application.
• Instant Payz is not liable for verifying or validating these details.
• Incorrect details entered by the User will not result in a refund from Instant Payz.

Irreversible Transactions:

• Payments made to a Payee's bank account are irreversible and fall under the jurisdiction of the Payee.

Dispute Resolution:

• Disputes or queries regarding a Transaction must be raised within 3 hours of initiation.
• Instant Payz will not consider disputes raised after this period as valid.

Refund Process:

• Users claiming a refund after settlement must resolve the issue with the Payee offline and inform Instant Payz.
• No refunds or reversals will be issued for successfully initiated or processed Transactions.

Technical Failures:

• Users will be fully refunded for any debts due to technical failures on the Application.
• Refunds, including the Convenience Fee, will be processed within 7 to 10 working days.

Exclusions:

• Refunds to Users will not include a Chargeback of Convenience Fee and related taxes.

Instant Payz Discretion:

• Instant Payz reserves the right to withhold payments for suspicious or invalid Transactions until fully validated.