How failed transactions are reversed, when refunds are given, and how to raise a refund request.
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1. Who this policy applies to
This policy explains how refunds, reversals and cancellations work on the NeoFyn Bharat platform. It applies to:
Partners – retailers, shop owners and distributors registered with NeoFyn Bharat; and
Customers who carry out a transaction at a partner's outlet.
Many services on the platform are delivered together with banks, National Payments Corporation of India (NPCI) systems, billers, mobile and DTH operators, travel suppliers and PAN agencies. Their rules also apply to those transactions. Where a bank or payment system gives a customer a faster timeline or stronger right than this policy, that timeline or right applies.
2. Key terms
Wallet – the balances in a partner's NeoFyn Bharat account: the Main wallet (used for services and payouts), the AEPS wallet (AEPS settlements) and the Commission wallet (earned commissions).
Transaction ID / RRN – the reference number shown on the receipt and in your transaction report. Please keep it for any query.
T – the calendar date on which the transaction was made.
Successful – the bank, operator or biller has confirmed the transaction.
Failed – the transaction was not completed, for reasons not caused by the partner or customer.
Pending – the final status has not yet been received from the bank, operator or biller.
3. The basic rules
Successful transactions are final. A completed withdrawal, money transfer, bill payment or recharge cannot be cancelled or refunded.
Failed transactions are reversed automatically. You do not need to request a refund for a failed transaction; the amount is returned as described in section 4.
Refunds go back to where the money came from – normally the partner's wallet, or the customer's bank account for bank-debited transactions. Refunds are never paid in cash by NeoFyn Bharat.
Charges follow the transaction. If a transaction fails, any service charge deducted for it is also returned. If a transaction is reversed, any commission earned on it is also reversed.
Wait for the final status. Partners must not hand over cash or goods, or settle with a customer, while a transaction is pending or has failed.
4. Failed and pending transactions
The table shows what happens when a transaction fails and the latest date by which it will be put right. Most failures are reversed much sooner.
Service
If the transaction fails
Reversal timeline
AEPS (cash withdrawal, Aadhaar Pay)
If the customer's bank account was debited but the transaction failed, the customer's bank reverses the debit. If the amount was already credited to the partner's AEPS wallet, it is taken back, and any charge is returned to the Main wallet.
Within T+5 days, as set by the Reserve Bank of India (RBI)
Mini ATM (card withdrawal)
If the customer's account was debited but cash was not given, the customer's bank reverses the debit.
Within T+5 days (RBI)
Domestic Money Transfer
If the beneficiary account is not credited, the amount and charge are returned to the partner's Main wallet.
Within T+1 day for IMPS (RBI); other transfer modes as per the bank
Bill Payments
If the biller does not accept the payment, the amount is returned to the partner's Main wallet.
As soon as the biller or Bharat Bill Payment System confirms the failure, and within 3 working days
Mobile and DTH Recharge
The amount is returned to the partner's Main wallet as soon as the operator confirms the failure, and the receipt shows "refunded".
Usually immediate; within 2 working days if the operator delays
Wallet payout to bank
If the bank transfer to the partner's account fails, the amount is returned to the wallet it came from.
Within 2 working days
Under RBI rules, if a bank does not reverse a failed AEPS, Mini ATM or IMPS transaction within the timeline above, the bank pays the customer compensation of ₹100 for each day of delay. This is paid by the bank directly, without the customer having to ask.
Pending transactions. Most pending transactions are updated to successful or failed automatically, usually within 24 hours. Check the latest status in your transaction report before raising a query. If a transaction is still pending after the timeline in the table, raise a request as explained in section 10.
5. Wrong details entered
A transaction that goes through successfully to a wrong mobile number, DTH ID, consumer number, bank account or beneficiary is not a failed transaction and is not refundable. Please check every detail with the customer before confirming.
If this happens, contact us straight away. We will ask the operator, biller or bank to help recover the amount, but recovery depends on them and on the recipient, and cannot be guaranteed.
6. Wallet top-ups, withdrawals and closure
Fund requests. Money deposited to add balance is credited to the Main wallet after the deposit is verified. If a deposit cannot be matched to a fund request, or the request is rejected, the amount is returned to the account it came from, within 7 working days of verification.
Duplicate or excess credits. If a wallet is credited twice or by mistake, NeoFyn Bharat will reverse the extra amount and inform the partner.
Withdrawals. Wallet balances can be withdrawn only to the partner's own bank account registered and verified on the platform. Commission can be moved to the Main wallet (minimum ₹100) and then withdrawn.
Closing your account. When a partner account is closed, the remaining wallet balance is paid to the registered bank account, after settling any amounts owed, pending transactions, chargebacks or holds (section 9), within 30 days of closure.
7. Travel, PAN, account opening and shopping
Travel booking. Cancellations and refunds follow the rules of the railway, airline or bus operator, including any cancellation charges they deduct. For railway tickets, no extra charge is added by NeoFyn Bharat on cancellation. Refunds are credited to the partner's wallet once received from the supplier, and the partner must pass the refund on to the customer promptly. Where a claim has to be filed with the supplier (for example, a Ticket Deposit Receipt for rail tickets), the refund is made after the supplier settles it. The booking fee or convenience charge for a successful booking is not refundable.
PAN services. Once an application has been submitted to the PAN agency, the fee is not refundable. A refund is given if the payment was taken but the application was not submitted because of a technical failure, or if the same application was charged twice.
Account opening. Account opening is carried out on behalf of the partner bank, and any charges or refunds follow that bank's rules.
Shopping. An order can be cancelled for a full refund before it is dispatched. A product that arrives damaged, defective or different from the order must be reported within 48 hours of delivery, with photos, for a replacement or refund. Refunds are credited to the partner's wallet within 7 working days of the return being accepted.
8. Onboarding fees and devices
Registration or onboarding fees, where charged, are not refundable once the partner account has been activated. If an application is rejected before activation, the fee is refunded in full.
Devices (for example biometric scanners or Mini ATM terminals) that arrive damaged or do not work must be reported within 7 days of delivery for a replacement. After that, devices are covered only by the manufacturer's warranty, which does not include physical damage, tampering or misuse. Devices are not returnable for a refund once delivered and working.
9. Disputes, chargebacks and fraud checks
If a bank or customer disputes a transaction, the partner must provide the receipt and any information requested within the time given, so the dispute can be answered.
If a dispute or chargeback is decided against a transaction, the amount (and any commission paid on it) may be recovered from the partner's wallet.
If a transaction or account is suspected of fraud, or a bank, NPCI or a law-enforcement agency instructs us, NeoFyn Bharat may hold the related amount while it is checked. Holds last only as long as the check requires, and we will tell the partner unless the law does not allow it.
10. How to request a refund
For a failed or pending transaction that has not been reversed within the timeline in section 4, or any other refund query, contact Partner Support:
the service, transaction ID or RRN, date and amount;
a short description of the problem, and a screenshot of the receipt if you have one.
Please report the issue within 30 days of the transaction. Every request gets a reference number. We will acknowledge it within 48 hours and aim to resolve it within 7 working days. Where the answer depends on a bank, NPCI, a biller or a supplier, we will follow up with them and keep you informed; their timelines then apply.
Customers who were debited for a failed AEPS, Mini ATM or money transfer transaction can also contact their own bank directly.
11. If you are not satisfied
If your request is not resolved, or you are not happy with the outcome, you can escalate it as explained on our Grievance Redressal page.
For a transaction made from a bank account, a customer can also complain to their bank. If the bank does not reply within 30 days, or the customer is not satisfied with the reply, they can complain to the RBI Ombudsman under the Reserve Bank – Integrated Ombudsman Scheme, at cms.rbi.org.in or on the RBI helpline 14448.
12. Changes to this policy
NeoFyn Bharat may update this policy when services, partner banks or regulations change. The latest version is always published on this page, with the date it was last updated.
