Paygent agrees & follows the RBI Policy, which says that the agreements between PAs, merchants, acquiring banks, and all other stakeholders shall clearly delineate the roles and responsibilities of the involved parties in sorting/handling complaints, refund / failed transactions, return policy, customer grievance redressal (including turnaround time for resolving queries), dispute resolution mechanism, reconciliation, etc.
Paygent agrees & follows a Board-approved policy for disposal of complaints/dispute resolution mechanism/timelines for processing refunds, etc., in such a manner that the RBI instructions on Turn Around Time (TAT) for resolution of failed transactions issued vide DPSS.CO.PD NO.629/02.01.14/2019-20 DATED September 20, 2019.
A transaction which has failed for any reason directly attributable to Paygent and Paygent has received corresponding confirmation from the payment gateway, will be automatically refunded to the User's bank account or wallet within 0–7 working days from the date of transaction and a confirmation mail will be sent to the User's email ID registered with Paygent.