1. General Refund Principles
This Refund Policy governs all refunds for services offered through the
Shaymavenue digital platform.
By using the platform, the Partner agrees that Shaymavenue:
- Is a technology service provider.
- Does not hold customer funds.
- Does not reverse transactions on demand.
- Does not provide refunds except where expressly mandated by banking partners, payment networks, or applicable regulations.
All refunds are governed strictly by banking rules, NPCI guidelines, payment network regulations, and applicable settlement norms.
2. No Refund on OTC Fees / Service Fees
Shaymavenue may charge various service fees, including:
- OTC (Over-The-Counter) Fee
- Convenience Fee
- Platform Fee
- AEPS Charges
- BBPS Charges
- DMT Charges
- Payout Charges
- API Charges
- Wallet Load Charges (where applicable)
These fees are NON-REFUNDABLE under all circumstances.
Once charged, they cannot be reversed, refunded, adjusted, or waived.
This applies even if:
- Customer changes their mind.
- Transaction fails due to customer error.
- Partner enters incorrect information.
- Service downtime occurs.
- Bank server fails.
- Customer raises a dispute.
3. AEPS, BBPS, DMT, Recharge & UPI Wallet Load
3.1 AEPS Transactions
AEPS withdrawals, balance enquiries, and mini statements cannot be refunded because:
- The customer's bank executes the transaction.
- Funds are debited directly from the customer's bank account.
- Shaymavenue does not control the banking fund flow.
3.2 BBPS Payments
BBPS bill payments are final and irreversible.
No refund is available if:
- Wrong Consumer ID is entered.
- Incorrect bill details are provided.
- The biller declines reversal.
Refunds can only be initiated by the respective biller where applicable.
3.3 Recharge Services
Mobile, DTH, Broadband, and OTT recharges:
- Are irreversible once successfully processed.
- Cannot be refunded for incorrect mobile numbers or wrong recharge plans.
3.4 Domestic Money Transfer (DMT)
DMT transactions:
- Are final.
- Cannot be cancelled.
- Are refundable only if rejected by the beneficiary bank according to banking rules.
3.5 UPI Wallet Load
Wallet loading through UPI is non-refundable because:
- Wallet balances are maintained as internal service balances.
- Wallet loading is not considered a bank deposit.
- Wallet credits cannot be reversed after successful processing.
4. Payout Failed – Refund / Reversal Policy
Refunds are applicable only where a payout fails at the banking level.
If the beneficiary bank rejects the payout, the amount is automatically returned after banking reconciliation.
| Reason |
Refund Timeline |
| Beneficiary Bank Rejects Payout |
T+1 to T+3 Working Days |
| Incorrect IFSC with Existing Account |
T+1 to T+5 Working Days |
| Bank Downtime |
After Bank Reconciliation |
| IMPS Technical Reversal |
Usually Within 24 Hours (Bank Dependent) |
The Partner acknowledges that:
- Refunds will be credited back to the merchant wallet where applicable.
- Manual refund processing is not available.
- Banking timelines cannot be guaranteed.
- Final decisions rest with the banking system.
5. Company Non-Liability
Shaymavenue shall not be responsible for delays or failures caused by:
- Banking downtime.
- NPCI switch failures.
- Biller server issues.
- Customer mistakes.
- Incorrect partner inputs.
- AEPS biometric failures.
- Banking reconciliation delays.
- Third-party operator failures.
Shaymavenue has no direct control over external banking or payment settlement systems.
6. Chargeback & Cyber Complaints
If a customer raises:
- Chargeback
- Transaction Dispute
- Cyber Fraud Complaint
- Payment Reversal Request
The Partner acknowledges that:
- Shaymavenue will not independently refund disputed transactions.
- Decisions are made by the concerned bank, NPCI, or payment network.
- The merchant bears responsibility as per applicable banking regulations.
- Merchant wallets may be temporarily restricted while investigations are in progress.
7. Final & Binding Refund Terms
By using Shaymavenue's services, the Partner agrees that:
- Platform fees are non-refundable.
- OTC charges are non-refundable.
- Service charges are non-refundable.
- Operational mistakes do not qualify for refunds.
- Wallet loading charges are non-refundable.
- Payout failure refunds are subject solely to banking timelines and settlement rules.
This Refund Policy overrides:
- Verbal commitments
- Phone conversations
- Messages
- Customer requests
- Merchant requests
- Support ticket communications
8. Contact Information