Refund & Cancellation Policy
This Refund and Cancellation Policy outlines the conditions under which refunds or cancellations may be considered for services provided by SP Transaction Hub, applicable to both Merchants and End Users.
Entity: SP Transaction Hub Technology Private Limited
Compliance: RBI Master Directions & Consumer Protection
1. Purpose and Scope
This Refund and Cancellation Policy outlines the conditions under which refunds or cancellations may be considered for services provided by SP Transaction Hub, applicable to both Merchants (including business associates, distributors, and retailers) and End Users. The policy is designed in compliance with prevailing legal regulations and industry standards to ensure fairness, transparency, and customer protection.
2. General Policy
All payments made towards service plans, platform usage, or wallet loading via SP Transaction Hub are non-refundable and non-cancellable once successfully processed, unless otherwise specified under the exceptions below.
This policy is governed by the Terms and Conditions and/or Merchant Agreement signed between the respective parties and SP Transaction Hub. Users and merchants are advised to read these documents carefully before availing of any services.
3. KYC Requirement for Access
Access to SP Transaction Hub's platform and services is contingent upon successful Know Your Customer (KYC) verification. Incomplete or failed KYC will result in the non-creation of user IDs and ineligibility for service access. No refunds shall be entertained for transactions initiated prior to the completion of KYC, including registration or verification charges, if any.
4. Refund Eligibility
4.1 For End Users
In case of transaction failure due to a technical error attributable solely to SP Transaction Hub, and confirmed by the integrated payment gateway, the transaction amount (excluding payment gateway charges and applicable taxes) shall be automatically refunded to the originating bank account within 3 to 21 working days.
If a successful transaction confirmation is received but the service is not delivered, users must raise a complaint via support@sptransactionhub.in. Upon investigation and confirmation of failure to deliver, a full or partial refund may be processed at SP Transaction Hub's discretion.
4.2 For Merchants and Business Associates
Refunds to merchants will only be entertained in cases where the service failure is due to a platform-side issue and no value was delivered to the end customer. Sufficient logs and proofs (transaction ID, UTR, screenshots, etc.) must be provided.
Merchants must raise a dispute or refund request within 72 hours of transaction failure, via their registered communication channel. Any amount refunded shall exclude payment gateway and network partner fees unless otherwise approved under a specific commercial agreement.
5. Cancellation
Once a transaction is successfully initiated or a payout/collection service is triggered via the SP Transaction Hub platform, it cannot be cancelled. Scheduled transactions (if supported) may only be cancelled if done prior to execution and within platform limits. In cases of duplicate transactions, users or merchants must report immediately. SP Transaction Hub will verify and take corrective action as per policy.
6. Grievance Redressal
Grievance Redressal Officer
Email:
grievances@sptransactionhub.inResponse Time (TAT): Within 3 working days
7. Limitation of Liability
SP Transaction Hub's liability is strictly limited to the transaction amount actually received and verified by its systems. SP Transaction Hub shall not be liable for delays or failures caused due to third-party service providers, including banks, payment gateways, or network outages.
8. Final Provisions
SP Transaction Hub reserves the right to amend this Refund and Cancellation Policy at its discretion and without prior notice. The updated policy shall be published on the official website and shall be deemed binding upon publication.
For further clarification, please write to:
compliance@sptransactionhub.in