Refund Policy

This Refund Policy outlines the terms and conditions under which refunds, reversals and chargebacks shall be processed by Veyronix Technology Private Limited referred to as “Genixpay” ("Genixpay"). By availing the services of Genixpay, you ("User", "Payer" or "Payee") acknowledge and agree to the terms stated herein.

A chargeback shall refer to any transaction that becomes uncollectible and is consequently returned to Genixpay or its service providers by the payer, payee or acquiring bank. Such transactions shall be eligible for a refund under the following circumstances, including but not limited to: when the payer refuses to honour a payment or requests a refund because the products or services rendered were defective, deficient, incomplete, not delivered as promised or unsatisfactory for any reason whatsoever; when the payment has already been made through other means; when the acquiring bank returns the payment for any reason whatsoever; when there are charges or debits resulting from alleged breaches in security, hacking or encryption-related issues affecting the services provided by Genixpay, the service provider or payee; or when a transaction has failed to complete successfully.

Owing to the instantaneous and irreversible nature of digital fund transfers, once a payment has been initiated through Genixpay’s platform, it may not be feasible to retract or reverse it through our systems. In the event that a User seeks to cancel, retract or initiate a chargeback for a payment already made, the User must promptly notify their issuing bank as well as Genixpay and must furnish all relevant documentation and information as requested. While Genixpay will make reasonable efforts to assist in the retraction process, it cannot assure or guarantee the reversal of any transaction. Chargeback requests may be considered where the transaction was executed via debit or credit card and only if the instruction is given to the concerned bank and Genixpay within the statutory time period prescribed by applicable regulations. However, chargebacks shall not be applicable in cases where the payment was made through other methods, including but not limited to UPI, wallet transfers, AEPS or IMPS.

In instances where a chargeback situation arises in relation to a product or service purchased, for which the payment has not yet been disbursed to the payee or merchant, Genixpay shall, in good faith, advise the concerned payer and payee to amicably resolve the dispute within a period of forty-five (45) days from the date of the transaction. Upon conclusion of the resolution period, Genixpay shall take steps to release or hold the funds as per the outcome mutually agreed upon by the disputing parties.

If the parties fail to arrive at a resolution within the aforementioned period of forty-five (45) days, Genixpay and/or its service providers shall have the sole and absolute discretion to initiate a reversal of the disputed amount in favour of the payer. In such a case, Genixpay may execute a debit from the payee’s wallet or account and credit the same to the payer’s account without requiring further consent or validation. The payee hereby expressly waives any right to dispute or challenge such an action taken by Genixpay in furtherance of equitable dispute resolution. Should the parties resolve the matter mutually within the forty-five (45) day window, Genixpay shall act in accordance with the terms of that resolution.

In cases where the payment has already been made to the payee prior to the chargeback claim, the payer shall be encouraged to resolve the matter directly with the payee. Genixpay shall not be liable to process or disburse any refund unless it has first received the disputed funds from the relevant payee, acquiring bank or service provider. Upon successful receipt of the refund amount by Genixpay from such third parties, the same shall be transferred to the payer’s account within a maximum of seven (7) working days.

In the event that the payer and payee reach an understanding, recognizing the payer’s right to a refund or chargeback, Genixpay, at its sole discretion, may give effect to such understanding by deducting the disputed sum either wholly or in part from any future payments due to the payee or by raising a debit claim or invoice to recover the said amount directly from the payee.

This Refund Policy is to be read in conjunction with Genixpay’s Terms and Conditions and Privacy Policy. Any inconsistency or ambiguity shall be resolved in favour of applicable law and regulatory directives.

For any questions regarding this policy or to initiate a chargeback or refund request, please contact Genixpay support through the channels mentioned on our official website.