REFUND & CANCELLATION POLICY

REFUND & CANCELLATION POLICY

• Cashmo processes digital financial transactions in real time. Due to the instantaneous and irreversible nature of most digital payment services, successfully completed transactions are generally not eligible for cancellation or refund.
• Refunds shall be processed only in circumstances expressly recognized under this Policy.
• Each refund or cancellation request shall be independently evaluated by Cashmo based on transaction records, system logs, and third-party confirmation.
• Cashmo's decision on refund eligibility, following investigation, shall be final and binding, subject to the User's right to escalate to regulatory authorities as provided under this Policy.
• Cashmo does not guarantee refund outcomes in cases involving third-party service provider failures where Cashmo has successfully transmitted the transaction.
• Submission of fraudulent, false, or exaggerated refund claims shall result in immediate account suspension and may attract legal action.

• A transaction may be cancelled by the User only if it has not yet been processed or transmitted to the relevant Service Provider or payment network.
• Due to the real-time nature of digital transactions on the Cashmo Platform, the window for cancellation is extremely limited and may not be available in all cases.
• Where a cancellation window is available, it shall be clearly indicated on the transaction confirmation screen prior to final submission.
• Once a transaction has been submitted and is in "Processing" or "Pending" status, cancellation may not be possible.

• Where the Platform offers the facility of scheduling future transactions, such scheduled transactions may be cancelled by the User up to 2 hours before the scheduled execution time.
• Cancellation of a scheduled transaction must be initiated through the Platform's transaction management section.
• Cashmo shall not be liable for execution of a scheduled transaction if the cancellation request is received after the stipulated cut-off time.

• Mobile and DTH recharge transactions that have been processed.
• Utility bill payments that have been confirmed by the biller.
• Domestic Money Transfer (DMT) transactions credited to the beneficiary account.
• AePS and Micro ATM cash disbursement transactions.
• UPI transactions that have received a successful payment confirmation.
• Any transaction marked as "Successful" in Cashmo's system.

• The User's account or Wallet has been debited but the intended service has not been delivered or confirmed by the Service Provider.
• A transaction has been marked as failed in Cashmo's system but the debit has not been reversed automatically within the standard processing timeline.

• The User's account has been debited more than once for a single transaction due to a technical error on Cashmo's Platform.
• Documentary evidence of duplicate debit must be provided by the User.

• A transaction failure caused solely by a system error, server fault, or processing error on Cashmo's Platform.
• Incorrect transaction amount charged due to a system calculation error.

• Recharge or bill payment processed by Cashmo but not delivered or credited by the respective Service Provider, confirmed by the Service Provider's official response.
• Cashmo shall initiate a refund only after receiving confirmation of non-delivery from the relevant Service Provider.

• A transaction executed without the User's knowledge or authorization, reported promptly and substantiated upon investigation.
• Refund eligibility in unauthorized transaction cases shall be subject to Cashmo's investigation findings and RBI guidelines on zero-liability obligations.

• Successfully completed recharge, bill payment, money transfer, or any other digital service transaction.
• Transactions where the failure resulted from the User entering incorrect beneficiary details, mobile number, account number, UPI ID, or any other erroneous information.
• Transactions declined or rejected by the User's own bank or card issuer.
• Change of mind after a transaction has been successfully initiated or completed.
• Transactions impacted by the User's insufficient account balance, expired card, or blocked account.
• Promotional cashback, bonus credits, referral rewards, or any incentive amounts credited to the Wallet.
• Transactions suspended or blocked due to regulatory or compliance directions.
• Transactions involving accounts suspended for KYC non-compliance, fraud, or violation of Terms and Conditions.
• Service charges, convenience fees, and platform fees once a transaction has been initiated.
• Transactions where the User claims non-receipt of service but the Service Provider has confirmed successful delivery.

• If an auto-reversal does not occur within the timelines stated above, the User must raise a formal refund request as described in Section 7 of this Policy.
• Cashmo shall compensate eligible Users for delays in auto-reversal as per RBI guidelines at ₹100 per day of delay beyond the prescribed timeline, subject to a maximum of the transaction amount.

• Registered mobile number and User ID.
• Transaction ID / Reference Number.
• Date, time, and amount of the transaction.
• Nature of the service for which the transaction was initiated.
• Clear description of the issue or reason for refund request.
• Supporting documents such as bank statement, payment screenshot, or error message (where available).

• Processing timelines are indicative and may vary depending on the User's bank, payment network, and applicable regulations.
• Cashmo shall not be responsible for delays caused by the User's bank or card issuer beyond the stated timelines once the refund has been initiated from Cashmo's end.

• Refunds shall ordinarily be credited to the same source account or payment instrument used for the original transaction.
• In cases where the original payment instrument is no longer active, closed, or unavailable, the refund shall be processed to the User's registered and verified bank account or Cashmo Wallet after due verification.
• Cashmo shall not process refunds to any third-party account under any circumstances
• Cash refunds shall not be provided under any circumstances.
• Cashmo reserves the right, in its sole discretion, to credit refunds to the User's Cashmo Wallet in exceptional cases, with prior intimation to the User.

• Upon receipt of a refund request, Cashmo shall acknowledge the request within 24 working hours.
• Cashmo shall conduct a thorough investigation involving:
  • Review of Cashmo's internal transaction logs and system records.
  • Verification with the relevant Service Provider or payment network.
  • Assessment of bank debit and credit confirmations.
  • Review of User-submitted supporting documents.
• Cashmo shall communicate the outcome of the investigation to the User within the timelines specified in Section 11.
• During the investigation period, Cashmo may temporarily place the disputed transaction amount on hold.
• The User is required to cooperate fully with the investigation process and provide any additional information or documents requested by Cashmo within 5 business days of such request. Failure to cooperate may result in closure of the refund request.

• If the User is dissatisfied with the resolution of a refund request, the User may escalate the matter to Cashmo's Grievance Officer within 15 days of receiving the initial resolution.
• Escalation must be submitted in writing to: grievance@cashmo.in
• The Grievance Officer shall provide a final internal resolution within 30 business days of receiving the escalation.

• RBI Ombudsman for Digital Transactions — at https://cms.rbi.org.in (for complaints relating to UPI, PPI, and digital payment services).
• Consumer Disputes Redressal Commission — under the Consumer Protection Act, 2019, at the appropriate district, state, or national level.
• Cyber Crime Cell — at https://cybercrime.gov.in for complaints involving unauthorized or fraudulent transactions.

• Users holding debit or credit cards linked to the Platform may initiate a chargeback through their card-issuing bank for eligible disputed transactions.
• Cashmo shall fully cooperate with chargeback investigations initiated by banks or card networks.
• Cashmo reserves the right to contest chargebacks that are found to be frivolous, false, or in respect of successfully delivered services.
• Repeated or abusive use of chargeback mechanisms shall constitute a violation of Cashmo's Terms and Conditions and may result in account suspension.
• Any chargeback decision made by the bank or card network shall be binding on both Cashmo and the User in accordance with applicable payment network rules.

• API Partners accessing Cashmo services through authorized API integrations shall be governed by the refund and cancellation terms stipulated in their respective API Partner Agreements.
• In cases of conflict between the API Partner Agreement and this Policy, the terms of the API Partner Agreement shall prevail to the extent of such conflict.
• API Partners are solely responsible for communicating refund and cancellation terms to their end users in accordance with applicable law.
• Cashmo shall not be directly liable to end users of API Partners for refund claims arising from service failures attributable to the API Partner's own systems or processes.
• Refund requests originating from API Partner transactions must be submitted by the API Partner on behalf of the end user through the designated API Partner support channel.

• Cashmo employs advanced fraud detection systems to monitor all refund and cancellation requests.
• Any refund request found to be based on false, fabricated, or misleading information shall be immediately rejected.
• Users found to be engaged in systematic abuse of the refund mechanism — including but not limited to filing repeated false claims, colluding with third parties, or manipulating transaction records — shall be subject to:
  • Immediate and permanent account suspension.
  • Forfeiture of Wallet balance pending legal proceedings.
  • Civil recovery action for amounts fraudulently refunded.
  • Criminal complaint under the Indian Penal Code, 1860 / Bharatiya Nyaya Sanhita, 2023 and the Information Technology Act, 2000.
• Cashmo reserves the right to withhold any refund pending completion of a fraud investigation without any liability for such withholding.

• Cashmo's liability in respect of any failed or disputed transaction shall be strictly limited to the principal transaction amount involved in the specific dispute.
• Cashmo shall not be liable for any consequential, indirect, incidental, or punitive losses arising from a failed transaction or delay in refund, including but not limited to:
  • Loss of business opportunity.
  • Loss of income or profit.
  • Reputational damage.
  • Late payment penalties imposed by third parties.
• Where a refund delay is caused by the User's bank, card network, or any third-party payment processor, Cashmo's liability shall be limited to confirming dispatch of the refund and providing relevant reference details for the User to follow up with their financial institution.
• Compensation payable under RBI guidelines for delayed auto-reversals shall constitute the maximum liability of Cashmo in such cases.

• Refunds shall be processed for the transaction amount net of any applicable taxes or charges that are non-recoverable under applicable law.
• GST and other statutory taxes already remitted to the government in relation to a completed transaction shall not form part of the refund amount.
• Any tax implications arising from receipt of a refund shall be the sole responsibility of the User. Cashmo shall not provide tax advice in connection with refund transactions.

• Cashmo shall maintain records of all refund and cancellation requests, investigations, and resolutions for a minimum period of 5 years from the date of the relevant transaction.
• Such records shall be made available to regulatory authorities upon lawful request.
• Users may request a copy of their refund transaction history by writing to support@cashmo.in.

• Cashmo reserves the right to amend, update, or revise this Refund and Cancellation Policy at any time to reflect changes in law, RBI guidelines, or business practices.
• Material changes to this Policy shall be communicated to registered Users via email or SMS at least 7 days prior to the effective date of the change.
• The updated Policy shall be published on the Platform with a revised effective date.
• Continued use of the Platform following the effective date of any amendment shall constitute Your acceptance of the revised Policy.

• This Refund and Cancellation Policy is governed by and shall be construed in accordance with the laws of India, including:
  • Payment and Settlement Systems Act, 2007
  • RBI Master Direction on Prepaid Payment Instruments
  • RBI Circular on Harmonisation of Turn Around Time (TAT) for Failed Transactions
  • Consumer Protection Act, 2019
  • Information Technology Act, 2000
• Any dispute arising from or in connection with this Policy shall be subject to the exclusive jurisdiction of the courts at Biswan, Sitapur, Uttar Pradesh, India.
• Prior to approaching any court, the parties shall attempt resolution through Cashmo's internal grievance mechanism as described in Section 12 of this Policy.

• You have read and fully understood this Refund and Cancellation Policy.
• You agree to be bound by all terms and conditions contained herein.
• You understand that successfully completed digital transactions are generally non-refundable.
• You are aware of the timelines and procedures for raising valid refund requests.
• You acknowledge that fraudulent or false refund claims may attract civil and criminal liability.