Refund & Cancellation Policy
Effective Date: 15/02/2025
Last Updated: 15/02/2025
At FastFlowPe, we strive to ensure secure, seamless, and efficient digital transactions. This Refund & Cancellation Policy outlines the criteria, timelines, and process for handling refunds, reversals, and cancellations, in compliance with RBI’s Turnaround Time (TAT) Guidelines (2019) and NPCI UPI Dispute Resolution Framework.
By using FastFlowPe’s payment services, all customers and merchants agree to abide by this policy.
1. Eligibility for Refunds & Reversals
A refund or transaction reversal may be initiated under the following circumstances:
- Failed Transactions – When money is debited from the customer’s account but not credited to the merchant due to banking or network failures.
- Duplicate Payments – If a customer is charged twice for the same transaction.
- Merchant-Initiated Refunds – Refunds issued by the merchant for cancellations, order failures, or returns.
- Disputed Transactions – Transactions disputed by customers due to unauthorized charges, fraud, or service non-fulfillment.
- UPI Disputes & Chargebacks – As per NPCI UPI Dispute Redressal Mechanism.
Note:FastFlowPe does not directly approve refunds for purchases— refund eligibility depends on the merchant’s refund & cancellation policy. Customers must first raise refund requests with the merchant.
2. Refund Timelines & Processing for Different Payment Modes
Refund timelines vary based on the payment method used:
| Payment Mode | Refund Processing Time | Reversal Process |
|---|
| UPI | T+1 to T+3 days | Auto-reversed to the same bank account/UPI ID |
| Credit/Debit Cards | T+5 to T+7 days | Reversed to the original card |
| Net Banking (IMPS/NEFT/RTGS) | T+3 to T+5 days | Credited back to the customer’s account |
| Wallet Payments | T+1 to T+3 days | Reversed to the same wallet |
| BNPL/EMI Transactions | T+7 to T+14 days | Depends on lender’s policy |
- T = Date of Refund Request Initiation
- NPCI UPI Auto-Reversal Rule: If a UPI transaction fails, it will be automatically reversed within T+1 working day.
- Regulatory Reference: RBI Circular on Turnaround Time (TAT) for Failed Transactions (2019)
3. Roles & Responsibilities in Refund Processing
The refund process involves multiple entities:
3.1 FastFlowPe’s Role
- Facilitates refund processing by forwarding refund requests to banks/payment processors.
- Ensures that merchants adhere to their refund policies & timelines.
- Provides real-time refund status tracking via the FastFlowPe dashboard.
- Assists customers & merchants in case of delayed or disputed refunds.
3.2 Bank & Payment Processor’s Role
- Processes fund reversals as per RBI timelines.
- Verifies & resolves failed transactions through the automated dispute resolution mechanism.
- Reconciles refunds and updates transaction records.
3.3 Merchant’s Role
- Defines & communicates their refund and cancellation policy.
- Initiates timely refunds for canceled transactions.
- Resolves customer complaints related to refunds & disputes.
Important: Refunds are subject to the merchant’s policy, and FastFlowPe does not have authority over order cancellations or service issues.
4. Transaction Security Policy
FastFlowPe ensures bank-grade security measures for all transactions, preventing fraud and unauthorized access.
4.1 Security Standards & Compliance
- PCI-DSS Level 1 Certified – Ensures secure storage & processing of card transactions.
- AES 256-bit Encryption – Protects payment data in transit & at rest.
- Two-Factor Authentication (2FA) – Mandatory for high-value transactions.
- Tokenization of Card Data – Complies with RBI’s Card-on-File Tokenization (CoFT) guidelines.
4.2 Fraud Prevention & Risk Monitoring
- Real-time AI-driven fraud detection to flag unusual transaction behavior.
- Suspicious transaction alerts for large or high-frequency payments.
- Geolocation tracking & device fingerprinting to prevent unauthorized UPI fraud.
4.3 Customer Responsibilities for Secure Transactions
- Do not share OTP, PIN, or passwords with anyone.
- Always verify merchant details before making a payment.
- Report suspicious transactions to FastFlowPe within 24 hours.
5. Dispute Resolution & Grievance Redressal
Customers can raise complaints for:
- Failed transactions (not auto-reversed within TAT).
- Delayed refunds beyond the expected processing time.
- Disputed transactions due to fraud or unauthorized charges.
5.1 How to Raise a Refund or Dispute Request
- Step 1: Contact the merchant for refunds related to service issues.
- Step 2: If the merchant is unresponsive, contact FastFlowPe at support@gofastflowpe.com.
- Step 3: If unresolved, escalate the complaint to the RBI Ombudsman.
5.2 Grievance Redressal Officer Contact
- Email: compliance@gofastflowpe.com
- Helpline: +91 8296210723
- Working Hours: Monday–Friday, 9:00 AM to 6:00 PM
Escalation to RBI Ombudsman: If a refund is not processed within the defined turnaround time (TAT), users may approach the Banking Ombudsman as per RBI’s Consumer Protection Guidelines.
6. Governing Law & Compliance
This policy is governed by:
- RBI’s Circular on Turnaround Time for Failed Transactions (2019)
- NPCI Guidelines for UPI Refunds & Disputes
- IT Act 2000 & Payment Security Regulations
Any disputes will be resolved in courts of Bengaluru, Karnataka., India.
7. Policy Updates & Contact Information
FastFlowPe reserves the right to modify this policy at any time to reflect regulatory changes. Users will be notified of updates via email or dashboard notifications.
Last Updated: 01/04/2025
Support: compliance@gofastflowpe.com
Helpline: +91 8296210723
By using FastFlowPe, you acknowledge and accept this Refund & Cancellation Policy.