Refund Policy
Last updated: March 5, 2026
Summary
- ✅ Merchants can issue full or partial refunds from the FYNBIT dashboard
- ✅ Customer refunds are processed within 5–7 business days
- ✅ FYNBIT facilitates refunds — your bank and our payment aggregator do the actual transfer
- ⚠️ FYNBIT's 5% platform fee is non-refundable once a transaction is processed
- ⚠️ Payment gateway charges (2%) may or may not be refunded depending on the aggregator's policy
1. Overview
FYNBIT is a technology platform that enables merchants to collect payments. Refund obligations and policies toward end customers are entirely the merchant's responsibility. FYNBIT's role is to facilitate the technical processing of refunds when instructed by the merchant.
This document covers two things: (a) how refunds work technically on the FYNBIT platform, and (b) FYNBIT's own fee refund position.
2. Merchant-Initiated Refunds to Customers
As a FYNBIT merchant, you may initiate a refund for any completed transaction directly from your FYNBIT dashboard. You can issue:
- Full refund: The entire transaction amount is returned to the customer
- Partial refund: A specified portion of the transaction amount is returned
Refunds can be initiated within 180 days of the original transaction date, subject to your payment aggregator's policy.
3. Refund Timeline
| Payment Method | Typical Refund Timeline |
|---|---|
| UPI | 2–5 business days |
| Debit Card | 5–7 business days |
| Credit Card | 5–7 business days (reflects in next billing cycle) |
| Net Banking | 5–7 business days |
Timelines are indicative. Actual processing depends on the customer's bank. FYNBIT and our payment aggregator partner do not control the issuing bank's processing speed.
4. Fee Handling on Refunds
FYNBIT Platform Fee (5%) — Non-refundable
FYNBIT's 5% platform fee is charged for providing the technology infrastructure (checkout, dashboard, settlement flow). This fee is non-refundable once a transaction has been successfully processed, regardless of whether the merchant later refunds the customer.
Payment Gateway Charges (2%) — Aggregator policy applies
Whether the 2% gateway charge is refunded depends on the payment aggregator's refund policy. In most cases, gateway charges for UPI refunds are returned; for card and net banking refunds, the gateway charge may be retained by the aggregator. FYNBIT passes through the aggregator's decision exactly — we do not earn additionally on this.
Example — ₹1,000 UPI transaction refunded in full:
- Original settlement to merchant: ₹930 (after 7% deduction)
- Customer receives back: ₹1,000 (full amount paid)
- Merchant's net cost of refund: ₹70 (the 5% FYNBIT fee + 2% gateway fee already deducted)
- Gateway charge refund: varies by aggregator policy
5. Merchant's Responsibility Toward Customers
Each merchant on FYNBIT sets their own refund terms for customers. FYNBIT does not mandate a specific refund policy for merchants. However, merchants must:
- Clearly display their refund/return policy on their product pages or checkout
- Honor the refund commitments made to customers
- Process customer-eligible refunds within a reasonable time frame
- Not misrepresent refund terms at the point of sale
Merchants who repeatedly fail to honor refund commitments may have their accounts reviewed or suspended.
6. Chargebacks
A chargeback occurs when a customer disputes a transaction with their bank directly. Chargebacks are separate from merchant-initiated refunds.
If a chargeback is filed against a transaction, FYNBIT will:
- Notify you via email and dashboard
- Request supporting documentation (order confirmation, delivery proof, etc.)
- Submit your evidence to our payment aggregator on your behalf
Chargeback decisions are made by the card networks (Visa, Mastercard) or UPI system, not by FYNBIT. FYNBIT is not liable for chargeback losses. A chargeback reserve fund may be applied for merchants with elevated chargeback rates.
7. Failed Transactions
If a payment is initiated but fails (e.g., OTP timeout, bank decline, network error), no amount is charged to the customer and no settlement is made to the merchant. Failed transaction amounts are automatically reversed to the customer's account within 5–7 business days by the payment aggregator. No platform fee is charged for failed transactions.
8. Disputes & Escalations
If you have a dispute about a refund processed via FYNBIT — or if a customer contacts you about a refund that has been delayed — please reach out to us:
Email: support@fynbit.com
Include in your email: Transaction ID, payment date, amount, and issue description
Response time: Within 2 business days
9. Changes to This Policy
We may update this Refund Policy from time to time. Merchants will be notified of material changes via email or the FYNBIT dashboard with at least 30 days' notice.