Last Updated: 1st June 2025
1. Policy Overview
FUPAY is committed to providing transparent and fair cancellation and refund policies. This policy outlines the terms and conditions under which you can cancel services and request refunds.
Key Principles
- Transparent and fair refund policies
- Quick processing of valid refund requests
- Clear communication about refund status
- Compliance with RBI and regulatory guidelines
2. Service Cancellation
2.1 Account Cancellation
You may cancel your FUPAY account at any time by:
- Contacting our customer support team
- Using the cancellation option in your account settings
- Sending a written request to our support email
2.2 Transaction Cancellation
Transaction cancellations are subject to the following conditions:
- Pending Transactions: Can be cancelled before processing
- Processing Transactions: May be cancelled if not yet completed
- Completed Transactions: Cannot be cancelled but may be eligible for refund
2.3 Subscription Cancellation
For subscription-based services:
- Cancel anytime through your account dashboard
- Service will continue until the end of current billing period
- No additional charges after cancellation
3. Refund Eligibility
3.1 Eligible for Refund
- Failed Transactions: Payments that failed due to technical issues
- Duplicate Charges: Multiple charges for the same transaction
- Service Unavailability: When services are not provided as promised
- Unauthorized Transactions: Transactions not initiated by you
- Overcharges: Amounts charged in excess of agreed fees
3.2 Refund Conditions
Refund Requirements
- Refund request must be submitted within 90 days of transaction
- Valid proof of transaction and reason for refund
- Account must be in good standing
- Compliance with KYC and regulatory requirements
4. Refund Process
4.1 How to Request a Refund
To request a refund, follow these steps:
- Contact Support: Reach out to our customer support team
- Provide Details: Include transaction ID, amount, and reason
- Submit Documents: Provide any required supporting documents
- Track Status: Monitor your refund status through our portal
4.2 Required Information
- Transaction ID or reference number
- Date and time of transaction
- Amount involved
- Reason for refund request
- Supporting documents (if applicable)
4.3 Refund Methods
Refunds will be processed through the original payment method:
- Bank Transfer: Refunded to the same bank account
- UPI: Refunded to the same UPI ID
- Card Payment: Refunded to the same card
- Wallet: Refunded to the same wallet
5. Refund Timeline
Refund Processing Timeline
1
Request Submission
Refund request received and acknowledged within 24 hours
2
Review & Verification
Request reviewed and verified within 2-3 business days
3
Approval & Processing
Refund approved and processing initiated within 1-2 business days
4
Bank Processing
Refund credited to your account within 3-7 business days
Important Notes
- Timeline may vary based on your bank's processing time
- Complex cases may require additional investigation time
- You will receive SMS/email notifications at each stage
- Track your refund status through our customer portal
6. Non-Refundable Services
6.1 Services Not Eligible for Refund
- Processing Fees: Transaction processing charges
- Subscription Fees: For services already used
- Convenience Charges: Service convenience fees
- Penalty Charges: Late payment or violation penalties
- Third-party Charges: Fees charged by external service providers
6.2 Partial Refunds
In certain cases, partial refunds may be provided:
- When only part of the service was used
- For subscription cancellations mid-cycle
- When regulatory requirements allow partial refunds
7. Dispute Resolution
7.1 Escalation Process
If you're not satisfied with our refund decision:
- Level 1: Contact our customer support team
- Level 2: Escalate to our grievance officer
- Level 3: Approach banking ombudsman if applicable
7.2 Grievance Redressal