Last Update on 05.07.2024
1.The Merchant agrees to process returns of, and provide refunds and adjustments for, Products sold and/or payment collected through its Merchant Site in accordance with these Good 'til canceled , the Acquiring Banks instructions and Scheme Rules. The Merchant understands that all refunds must be routed through the same Acquiring Bank payment gateway through which the Transaction was made. In the event that the Merchant initiates refund through any other mode, the Merchant shall be fully liable for all Chargebacks raised in respect of the Transaction refunded. The Merchant shall ensure that Ezeepay Services at all times have sufficient funds of the Merchant to process refunds initiated. Ezeepay Services shall not be liable to process any refund initiated in the event of insufficient funds.
2.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 Product. The Merchant understands that if the refund policy prohibits returns or is unsatisfactory to the Customers, the Merchant may still receive a Chargeback relating to the Disputed Transaction.
3.The Merchant shall (a) maintain a fair return, cancellation or adjustment policy in accordance with type of business (b) disclose its return or cancellation policy to Customers at the time of purchase (c) not give cash refunds to a Customer in connection with a card sale, unless required by law and (d) not accept cash or any other item of value for preparing a card sale refund.
4.The Merchant understands that no refund shall be processed by Ezeepay Services after a period of 90 days from the date of the Transaction.
5. It is hereby agreed and acknowledged by the Parties that the Service Fees charged by Ezeepay Services in respect of a Transaction that has been confirmed shall not be refunded or repaid by Ezeepay Services to the Merchant or any other person irrespective of the Customer Charge being rejected, chargeback, refunded or disputed.
a. Ezeepay provides a Ezeepay Platform to various Merchants (applications/ websites/ stores/ shops) for accepting money through multiple instruments like UPI, Net Banking, Credit Card, Debit Card, Wallets, etc. In case the transaction don’t successfully go through and the funds are deducted from the Customer’s account, in such case, Ezeepay shall support to resolving the disputes within the prescribed turnaround time.
b. The Chargeback shall be processed in the following manner:
i. Customer to contact his/ her bank to file a dispute;
ii. On receipt of intimation from the acquiring bank, the Company shall create a Dispute ID on behalf of the acquiring Bank and sends a communication to the Merchant.
iii. Merchant shall log in to Application/ web-portal of the Company to see all pending disputes.
iv. Merchant shall upload proof(s) against each new Dispute ID within the timelines given by acquiring bank.
v. The Company shall review the document and share them with the acquiring Bank on behalf of the Merchant.
vi. Basis the proof(s) submitted, the acquiring Bank may choose to accept or reject the claim.
vii. Acquiring Bank shall inform the Customer and the Company about the final result of the Dispute.
viii. The Company shall mark the status of the dispute as ‘Won’/ ‘Lost’ as per acquiring Bank’s feedback, and shall debit the amount from the respective Merchant if the dispute is lost.
ix. Debit against any lost dispute will be settled with Merchant’s upcoming settlement as per the settlement cycle. However, no debit would be done if the dispute is defended successfully.
a. Refunds are reversal transactions wherein complete or partial money is moved back to 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 only as per the refund policy of the third-party merchants. A refund arises in the following scenarios:
i. Customer has changed his mind about the consumption of product pre/ post order delivery.
ii. 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 transaction is failed state at Merchant's end but is successful at Company's end
b. The Customer/ Merchant can initiate complete refunds to the Customer’s source account.
c. The process followed for Refunds is as under:
i. Merchant to initiate refund.
ii. 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;
iii. Sync confirmation after validation of refund is provided in response to the request.
iv. Once the refund is validated at Company’s end, the Company deducts the refund amount from the Merchant’s pending settlement amount.
v. 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.
vi. Once the Bank accepts the refund, the Company sends the message ‘Success Refund’ to the Merchant. This depicts that a refund has been initiated.
vii. Bank credits the customer's source account with the refund amount.
viii. 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.
a. Merchant shall pay and Ezeepay shall receive Consideration for Services rendered in accordance with the terms of the Agreement. The rate at which the Merchant Discount Rate or the Transaction Discount Rate or the Platform fee shall be agreed by the Merchant and Ezeepay in terms of the Agreement. The TDR/ Consideration shall be deducted from the Settlement Amount or Ezeepay Payout Account (as applicable) for the Transactions made using Ezeepay Services.
b. The Consideration shall be exclusive of the tax applicable on such Consideration and such tax shall be charged in addition to the Consideration by Ezeepay.
c. Ezeepay undertakes to comply with all the compliances mandated under the GST as may be applicable on Ezeepay as and when the same are implemented by the relevant government authority including timely deposit of GST to the government and maintaining appropriate compliance rating.
d. The Consideration shall be deducted from the amount so collected on behalf of the Merchant before the amount so collected from the Customer is settled in the Designated Bank Account.
e. In addition to the Consideration, Ezeepay shall be entitled to charge a penalty, fine, or additional liability imposed by the law enforcement authorities including tax authorities or regulators upon Ezeepay because of the act of the Merchant.