REFUND, CANCELLATION &
CHARGEBACK POLICY

This Policy establishes a controlled framework for cancellation, refund, reversal and chargeback handling for gift-card, voucher and related transactions processed by or through CYBERVED AI PRIVATE LIMITED.

• Provide clear and consistent refund and cancellation handling.
• Protect customers from incorrect or unauthorised transactions.
• Coordinate efficiently with PPI, banking, payment and merchant partners.
• Prevent refund abuse and duplicate reimbursement.
• Maintain accurate records and reconciliation.
• Ensure customer communications are timely and transparent.

This Policy applies to eligible purchases, gift-card/voucher issuance, activation, failed transactions, cancellations, refunds, reversals, payment disputes and chargebacks.

The responsible issuer, payment processor, bank, merchant or PPI partner may control the actual movement of funds. CYBERVED AI PRIVATE LIMITED shall perform only those activities permitted by its role and applicable contractual arrangements.

Eligibility shall depend on product terms, transaction status, issuer/partner rules, applicable law and the reason for the request. Some products may be non-refundable except where legally required or expressly permitted.

Cancellation requests shall be assessed against the product status and applicable terms. Where cancellation is not technically or contractually possible, the customer shall be informed of the available resolution route.

1. Receive and record the request.
2. Verify the customer and transaction where appropriate.
3. Check product, payment and voucher status.
4. Determine eligibility under applicable terms.
5. Obtain partner approval where required.
6. Process or initiate the refund through the approved channel.
7. Record the refund reference and status.
8. Notify the customer of the outcome.

Refunds shall normally be made through the original or an approved payment route, subject to the payment partner's capabilities, applicable law and transaction conditions.

Indicative timelines may vary depending on the payment method, partner, banking network and transaction status. Customer communications shall avoid guaranteeing a settlement date where it is outside the Company's control.

Failed transactions shall be reviewed against payment and partner records. Where funds were debited but the product was not successfully delivered, reconciliation and refund/reversal shall be initiated according to the applicable process.

Potential duplicate charges shall be investigated using transaction references and partner records. Confirmed duplicate charges shall be resolved through the appropriate reversal or refund process.

Suspected unauthorised transactions shall be handled under the Unauthorised Transaction Policy and relevant fraud controls, including customer verification and partner escalation.

Chargebacks received through payment networks or payment partners shall be recorded, investigated and responded to within the applicable network or partner timelines.

• Transaction/order reference
• Payment reference
• Product/voucher status
• Customer communication where relevant
• Delivery/activation/redemption evidence
• Refund/reversal history
• Partner or processor correspondence

Where a chargeback appears invalid or is supported by available evidence, the Company may provide appropriate documentation through the responsible payment partner or processor.

• Repeated refund requests
• Multiple claims for the same transaction
• Refund after successful redemption
• Suspicious account/payment patterns
• Manipulation of transaction or voucher information

Suspected abuse may be escalated under the Fraud Prevention & Transaction Monitoring Policy.

Customers shall receive clear information about request status, required information, approval/rejection reasons where appropriate, and applicable processing timelines.

Refunds, reversals and chargebacks involving PPI issuers, banks, payment processors or merchants shall be coordinated through approved partner channels.

All refunds, reversals and chargebacks shall be reconciled against transaction and settlement records to prevent duplicate or missing adjustments.

Higher-value, exceptional or manually processed refunds may require additional approval based on internal thresholds and risk.

Refund and cancellation functions shall be protected through role-based access, transaction validation, audit logs and appropriate maker-checker controls where applicable.

Customer and payment information used for refund or dispute handling shall be handled securely and in accordance with applicable privacy and retention requirements.

• Customer Support → Operations
• Operations → Finance / Partner Management
• Finance → Payment / PPI / Bank Partner
• Fraud concerns → Risk / Fraud / Compliance
• Material legal or regulatory matters → Compliance / Legal / Management

Refund, cancellation, reversal and chargeback records shall include relevant transaction references, decisions, evidence, approvals, partner communications and closure status.

Periodic reporting may include refund volumes, values, ageing, chargebacks, reversal rates, dispute outcomes, fraud-related refunds and unresolved exceptions.

Refund and chargeback controls may be periodically tested to verify accuracy, approval controls, reconciliation, customer communication and partner compliance.

Exceptions shall be documented, risk-assessed and approved by authorised management. Applicable law, network rules and binding partner requirements shall not be bypassed.

This Policy shall be reviewed at least annually and whenever there is a material change in products, payment methods, partner arrangements, customer processes or applicable requirements.