• Refunds are reversal transactions wherein complete or partial money is moved back to the Customer's source account (account from which actual payment was made) with some exception cases as given below. A refund can only be created for a successful or settled transaction as per the refund policy of the third-party merchants. A refund arises in the following scenarios:

1. Customer has changed his mind about the consumption of product pre/post order delivery.

2. Refund can be initiated by the Merchant in the following scenarios:

1. Product/service is out of stock.

2. Mismatch in transaction status between the Company and Merchant wherein the transaction is in a failed state at the Merchant's end but is successful at the Company's end.

•The Customer/Merchant can initiate complete refunds to the Customer's source account.

•The process followed for Refunds is as under:

1. Merchant to initiate refund.

2. The Company validates the refund against the original order. These are basic validations like a cumulative refund on this order i.e. order value, the order is not more than a year old etc or as per the merchant refund policy.

3. Sync confirmation after validation of refund is provided in response to the request.

4. Once the refund is validated at Company's end, the Company deducts the refund amount from the Merchant's pending settlement amount.

5. The Company initiates the refund to the Bank. Apart from net banking refunds as it is instant in nature, most of the net banking refunds are file-based and hence, are sent to the Bank on the next working day.

6. Once the Bank accepts the refund, the Company sends the message 'Success Refund' to the Merchant. This depicts that a refund has been initiated.

7. Bank credits the customer's source account with the refund amount.

8. There are some exception cases where a refund is not processed in the customer source account/mode when source account/mode is closed, wallet limit exhaust, customer requested to get a refund in a different account and when order is old and hence automatic refund couldn't be processed in the source.