Cancellation Policy
Last updated: March 6, 2026
Summary
- ✅ Merchants can cancel their FYNBIT account at any time — no lock-in
- ✅ Customers can cancel orders before payment is processed
- ⚠️ Once a payment is successfully processed, cancellation follows the refund process
- ⚠️ FYNBIT's platform fee is non-refundable after a transaction is completed
- ⚠️ Subscription cancellations take effect at the end of the current billing period
1. Order Cancellation by Customers
Before Payment Is Processed
Customers may abandon or cancel a payment at any point during the checkout flow before the payment is confirmed. No amount is debited and no cancellation request is needed. Simply closing the checkout page cancels the order automatically.
After Payment Is Successfully Processed
Once a payment is confirmed, the transaction cannot be "cancelled" in the traditional sense. The customer must request a refund from the merchant. Whether a refund is granted depends on the merchant's own refund policy for that product.
For FYNBIT's refund handling process, see our Refund & Return Policy.
2. Subscription Cancellation (if applicable)
Some merchants on FYNBIT offer subscription-based products (monthly or annual access). Cancellation terms for customer subscriptions are set by each individual merchant. Customers should refer to the merchant's product page or contact the merchant directly for subscription cancellation instructions.
General principle (where merchant has not specified otherwise):
- Subscriptions cancelled before the next billing date will not be renewed
- Access continues until the end of the current paid period
- Pro-rata refunds for the unused portion of a subscription period are at the merchant's discretion
3. Merchant Account Cancellation
Merchants can cancel their FYNBIT account at any time with no lock-in period. To initiate account closure:
- Email support@fynbit.com with the subject "Account Closure Request"
- Include your registered business name and merchant email
- We will confirm within 2 business days and initiate the offboarding process
Before closing your account, please note:
- Any pending settlements will be processed to your bank account within the standard T+2 cycle
- Outstanding disputes or chargebacks must be resolved before account closure is finalized
- Transaction records are retained for 5 years as required by PMLA, 2002 — this data cannot be deleted upon account closure
- Active payment links and checkout pages will be deactivated upon closure
4. FYNBIT-Initiated Cancellation
FYNBIT reserves the right to suspend or terminate merchant accounts in cases of:
- Violation of our Terms & Conditions
- Fraudulent or suspicious transaction activity
- Failure to complete or maintain KYC verification
- Excessive chargebacks or dispute rates
- Use of FYNBIT for prohibited business categories
In such cases, we will notify the merchant via their registered email. Pending settlements will be handled per applicable law, subject to any holds required for dispute resolution.
5. Transaction Cancellation by FYNBIT
FYNBIT does not cancel successfully processed transactions. If a transaction needs to be reversed, it must go through the refund process. FYNBIT may, however, flag or hold transactions that are identified as potentially fraudulent pending merchant or customer verification.
6. Fee Treatment on Cancellation
| Scenario | Fee Treatment |
|---|---|
| Order abandoned before payment | No charge — no transaction occurred |
| Payment failed (OTP timeout, bank decline) | No charge — no successful transaction |
| Payment successful → merchant issues refund | FYNBIT 5% platform fee is non-refundable; gateway charges per aggregator policy |
| Merchant account closure (no pending transactions) | No fee for account closure itself |
7. Contact for Cancellation Requests
Merchants — Account Closure:
📧 support@fynbit.com — Subject: "Account Closure Request"
Customers — Order Cancellation / Refund:
Contact the merchant first. If unresponsive, email 📧 support@fynbit.com with your transaction ID.