RANAPAY INDIA PRIVATE LIMITED

This Policy establishes a consistent framework for cancellation, refund, reversal, dispute and chargeback handling for RanaPay's gift card, voucher and virtual product transactions, taking into account the product terms, transaction status, partner rules, applicable law and RanaPay's actual operational role.

RanaPay shall clearly distinguish between its own responsibilities and those of the relevant PPI issuer, bank, payment processor, merchant or other partner. Where the partner controls the payment or refund process, RanaPay shall coordinate the case and provide required information rather than represent that it independently controls the regulated process.

• Provide clear refund/cancellation criteria.
• Process eligible requests consistently.
• Prevent duplicate or fraudulent refunds.
• Support chargeback and dispute handling.
• Maintain transaction and refund records.
• Coordinate with PPI/bank/payment partners.
• Escalate exceptions and material cases.

This Policy applies to purchases, issuance, activation, redemption, cancellations, refunds, reversals and chargebacks relating to gift cards, gift vouchers and virtual gift products handled through approved RanaPay channels and partners.

• Refund eligibility depends on product terms and applicable law.
• No refund shall be promised where the product is non-refundable, except where required by law or partner rules.
• A transaction shall not be refunded more than once.
• Refunds shall be linked to the original transaction wherever practicable.
• Fraud indicators shall be escalated before processing where appropriate.

Eligibility shall be determined based on the specific product terms, transaction status, redemption status, partner rules and applicable legal requirements.

• Cancelled order before successful issuance, where permitted
• Failed issuance/payment where funds were captured
• Duplicate payment
• Eligible technical failure
• Partner-approved refund
• Other documented circumstances permitted by product terms/law

• Successfully redeemed voucher/card
• Expired product where no refund is legally or contractually due
• Fraudulent or prohibited transaction
• Unauthorised resale or misuse
• Cases excluded by disclosed product terms, subject to applicable law

1. Receive cancellation request.
2. Verify transaction reference and customer details.
3. Check issuance/activation/redemption status.
4. Check applicable product and partner terms.
5. Determine eligibility.
6. Approve/reject with documented reason.
7. Initiate cancellation/refund where applicable.
8. Update records and notify customer.

1. Validate original transaction.
2. Confirm refund eligibility.
3. Check fraud/dispute status.
4. Obtain required partner approval where applicable.
5. Initiate refund through the responsible payment/partner channel.
6. Record refund reference.
7. Reconcile refund with settlement.
8. Notify customer where applicable.

Refunds shall ordinarily be processed through the original payment channel or another permitted method determined by the responsible payment/partner entity. Actual credit timing may depend on banks, payment networks and partner processing.

Partial refunds may be permitted only where supported by the product, transaction system and partner rules. The approved amount and reason shall be recorded.

Where a transaction fails, is duplicated or is otherwise reversed by the payment/processing system, RanaPay shall reconcile the reversal with the original transaction and partner settlement records.

Chargebacks received through payment partners shall be handled according to applicable network, bank, processor and partner procedures.

• Record chargeback reference
• Validate transaction
• Preserve relevant evidence
• Coordinate with responsible partner
• Respond within applicable timelines
• Record outcome
• Reconcile financial impact

Customer disputes shall be logged and reviewed. The customer may be requested to provide transaction details or supporting evidence where reasonably required.

• Multiple refund requests
• Refund to unrelated account/channel where inappropriate
• Refund after redemption
• Duplicate refund attempts
• Suspicious customer/account patterns
• Chargeback abuse
• Fraud-linked transactions

Suspicious cases may be referred to the Fraud/Risk function and relevant partner before action.

Claims of unauthorised purchases or redemptions shall also be handled under the Unauthorised Transaction Policy and applicable partner procedures.

Customers shall receive clear communication regarding the status of cancellation/refund/dispute requests, including where a request is rejected, delayed or dependent on a third party.

• High-value or material refund
• Repeated refund abuse
• Fraud indicator
• Chargeback with significant exposure
• Partner dispute
• Systemic processing issue
• Regulatory/legal complaint
• Refund outside standard rules

Finance/Operations shall reconcile approved refunds, reversals and chargebacks against transaction and partner settlement records. Unmatched items shall be investigated and tracked until closure.

• Original transaction
• Refund/cancellation request
• Eligibility assessment
• Approval/rejection
• Refund reference
• Chargeback/dispute evidence
• Partner communications
• Settlement/reconciliation record
• Customer communication
• Closure record

Refund, dispute and chargeback information shall be accessed and shared only on a need-to-know basis and handled in accordance with RanaPay's Data Protection, Privacy & Retention Policy.

Relevant PPI issuers, banks, payment processors and merchants shall have documented refund/dispute responsibilities, escalation contacts and applicable service timelines.

• Refund volume/value
• Cancellation rate
• Chargeback rate
• Refund exceptions
• Pending cases
• Aging of disputes
• Fraud-linked refunds
• Unreconciled items
• Partner SLA performance

RanaPay may periodically sample refund and chargeback cases, verify approvals, reconcile financial records and review partner compliance with agreed procedures.

Any exception shall be documented, risk-assessed and approved by an authorised function. No exception may override a mandatory legal or regulatory requirement.

This Policy shall be reviewed at least annually and whenever there is a material change in product terms, partner arrangements, payment processes, applicable requirements or dispute trends.