This document aims to elaborate on Cash Friend Fintech Private Limited board-approved policies for handling grievances of Customers with respect to Disposal of Complaints, Dispute Resolution Mechanism and Refunds/Chargeback policy.

All of the above policy matters bind all participants i.e. the Customer, Merchant and Cash Friend Fintech Private Limited (‘Payment Aggregator’ or ‘Payfi’) and shall contain a detailed explanation of types of disputes, the process of dealing with them, compliance, responsibilities of all the parties, documentation, reason codes and procedures for addressing the grievance, turnaround-time for each stage, etc.

  1. Disposal of Complaints

Listing of common queries and resolutions with TATs:

Customer QueriesResolutionsTAT
Customer enquiries about his Transaction statusWe provide all the details like order no, PA reference number, date of Transaction, amount of Transaction, Merchant Site/URL and status of Transaction.24 hours (for queries received between 10 am – 6 pm Monday to Sunday)
Transaction successful, but no response from MerchantWe provide all the information to the Customer, including the Merchant details. Additionally, we forward the same mail to the Merchant providing services, keeping the customer in CC.24 hours (for queries received between 10 am – 6 pm Monday to Sunday)
Refund issuesWe provide all the refund details to the Customers, with the bank reference number and ARN number for Customer to further check with his concerned bank.24 hours (for queries received between 10 am – 6 pm Monday to Sunday)
Refund not reflecting in customer accountWe recheck the funds status and update the customer OR raise the issue with the concerned bank. The updates received are shared with the Customer.24 hrs to 48 hrs (working days) post receiving an update from the concerned entity.
Amount debited but Transaction not foundWe search for the Transaction with details like:   email id used while performing the Transactiondate and amount of Transaction,and if still not found, then ask Customers to contact their concerned bank for more details or other reference nos.24 hours (for queries received between 10 am-6 pm Monday to Sunday)
  1. Dispute Resolution Mechanism

Customers can raise disputes on shipped orders for the following reasons:

  • Transaction amount is different
    • Request is made for the copy of the Receipt
    • Merchandise is defective or damaged
    • Alleged fraudulent Transaction investigated by the Acquiring Bank
    • Multiple charges for the same order
    • Merchant agreed to issue a refund on merchandise returned or for any other reason
    • Merchandise not as advertised
    • Customer did not engage in or authorize this Transaction
    • Merchandise has not been delivered
    • Cardholder is not in possession of the card used for the Transaction
    • Service not received from Merchant
    • Order was cancelled
    • Customer paid for order by other payment method Supporting Documents

Payfi may request for a set of supporting documents for cases that need further investigation. These documents could include the Authorization Letter from the Cancellation Policy, etc. Merchants can respond by attaching the required documents with a clarification message using our messaging facility.

Dispute Resolution

Payfi team can either close the dispute in the Merchant’s favour or allow Chargeback to the Customer.

Resolution of Open Cases

Payfi designates the status as Open for disputed cases that need further investigation and sets the amount and end date for resolution. The amount set aside for resolution at this stage cannot be greater than the disputed amount.

Different Types of Resolution for Open and Hold Cases:

  • Time limit is defined for each Open and Hold case. When the time limit set for the Open and Hold case is over and the disputed status has not changed, Payfi will release the amount held against the dispute and close the dispute.
  • After further investigation, when Payfi changes the status for the Open and Hold case to Chargeback, the amount set aside for resolution (the balance amount payable) is treated as the Chargeback amount and debited from the Merchant’s account in favour of the Customer.
  • When Payfi changes the status for the Open and Hold case to Closed, the amount set aside for resolution is ruled in the Merchant’s favour i.e. credited to their account.
  1. Refund/ Chargeback

The Merchants shall maintain a fair return, cancellation or adjustment policy in accordance with the type of business; disclose its return or cancellation policy to Customers at the time of purchase, not give cash refunds to a Customer in connection with a card sale, unless required by law, and not accept cash or any other item of value for preparing a card sale refund.

The amount of the refund/adjustment must include any associated taxes required to be refunded and cannot exceed the amount shown as the total on the original sales data except by the exact amount required to reimburse the customer for postage (if any) that the Customer paid to return the Product.

The Merchant understands that even if its refund policy prohibits returns or is unsatisfactory to the Customer, the customer may still receive a Chargeback relating to the Disputed Transaction.

The Service Fee charged by Payfi in respect of a transaction that has been confirmed shall not be refunded or repaid irrespective of the Customer Charge being rejected, chargeback, refunded or disputed.

Grievance Redressal Officer and Nodal Officer Details

Level IGrievance Redressal OfficerRisk Head Email: Phone: +919650377335  
Level IINodal Officer DetailsNodal Officer Email: Phone: +919560970986