Refund Policy

This policy explains how MehaiPay Fintech Pvt. Ltd. handles a failed, stuck or disputed transaction, and how money is returned to a customer or to an agent’s wallet. It applies to every service on the platform and forms part of our Terms of Service.

1. Scope

This policy covers money that must come back because something went wrong: a transaction that failed, one that is stuck in pending, one where a customer’s account was debited without cash being handed over, or one where a partner declined the request after taking the money.

It is not a change-of-mind refund policy. Almost everything on this platform is irreversible once the bank, the biller or the operator has accepted it. A recharge delivered to the correct number, a bill paid against the correct consumer number, a money transfer credited to the account number that was keyed in — none of these can be pulled back by us or by anyone else. Check the number before you press send.

2. The general principle

• A failed transaction is reversed automatically. You do not have to ask.
• A successful transaction is not reversible on request.
• A pending transaction is one the other side has not answered yet. It will resolve to success or failure on its own, within the window shown in section 3.
• The money goes back to where it came from. If the customer’s bank account was debited, it returns to that account. If your wallet was debited, it returns to your wallet.
• How long it takes depends on the rail the transaction ran on, not on us. An IMPS reversal is minutes; an NPCI AEPS dispute cycle is days.

3. Timelines by service

These are the figures we work to. Automatic reversal is what happens without anyone doing anything. The dispute column is the outer limit once a dispute is formally raised.

T is the date of the transaction. Working days exclude Sundays and bank holidays. Where a customer’s own bank is the party refunding, the credit appears in their passbook on the bank’s own timeline, which we cannot control but can chase with the reference number.

4. Failed AEPS and micro ATM transactions

Two things can go wrong, and they are handled differently.

The customer’s account was debited, but no cash was paid out

This is the common case — the bank returned a success, the app timed out, and you never paid. Do not pay. The amount is reversed to the customer’s own account, usually the same day, and at the outside within five working days under the NPCI dispute cycle. Show the customer the transaction screen, give them the RRN, and tell them to check their passbook or SMS. If it has not landed by T+5, raise the dispute from the transaction screen.

You paid out cash, but your wallet was not credited

Raise this immediately, the same day. We pull the switch record against the RRN. If NPCI confirms the transaction was successful at the bank, the amount is credited to your wallet within two working days. If it was a genuine failure, the customer’s account is reversed and the cash you paid out is your own loss to recover from the customer — which is exactly why the rule above matters.

What an RRN is. The Retrieval Reference Number is a twelve-digit number that NPCI assigns to every AEPS and micro ATM transaction. It is printed on the receipt, shown on the transaction screen, and is the only way a bank can locate the transaction in its own system. Every MehaiPay transaction stays searchable by RRN for six years.

5. Money transfer failures

A transfer fails when the beneficiary bank refuses to credit. The usual reasons are an account that is closed, dormant or frozen, an account number that does not exist, a wrong IFSC, a name and account mismatch under the bank’s own check, or the bank simply being unreachable.

• IMPS returns a decline quickly. The amount comes back to your wallet, normally within thirty minutes, and at the outside by T+1.
• NEFT returns in the next settlement cycle. A transfer sent late in the evening or on a holiday returns on the next working day.
• Stuck in pending means the beneficiary bank has neither credited nor declined. Wait for the window to close before raising a dispute — a dispute raised on a pending transaction only delays it.

What a UTR is. The Unique Transaction Reference is a twelve to twenty-two character code that identifies a transfer on the IMPS or NEFT network. Give it to the beneficiary and their bank can find the credit within minutes. It is on the receipt and on the transaction screen in the app.

If the money reached the wrong account because the account number or IFSC was keyed in incorrectly, the transfer is technically successful and cannot be reversed by us. We will raise a request with the beneficiary bank to seek the account holder’s consent to return it, but the outcome is entirely theirs. Read the account number back to the customer before you send.

6. Bill payment and recharge failures

• Pending — the biller or operator has not confirmed. Most confirm inside a few minutes. A recharge that is still pending after 24 hours is refunded to your wallet automatically.
• Operator rejection — an invalid plan, a number that has been ported, a barred connection or a plan not available on that circle. The amount returns to your wallet, generally the same day and at the outside by T+3.
• Biller rejection under BBPS — a consumer number that does not match, or a bill already paid. The amount returns to your wallet by T+1, and at the outside by T+3.

A bill paid against a wrong consumer number is the hard one. The payment was successful; it simply credited someone else’s account with the electricity board, gas agency or water utility. BBPS has no reversal for a correctly processed payment. We will raise a written request with the biller, and some utilities will transfer the credit on proof, but many will not, and the process takes weeks. Read the consumer number back to the customer, every single time.

7. Insurance and travel cancellations

These are the partner’s products, and the partner’s own cancellation rules apply. We pass the request through and follow it up, but we do not set the terms.

• Insurance free-look — a life or health policy may be cancelled within the free-look period, which is fifteen days from receipt of the policy document (thirty days for a policy sold remotely). The insurer refunds the premium after deducting proportionate risk cover, stamp duty and any medical examination cost. The refund goes to the policyholder’s own bank account, not to your wallet, and takes up to fifteen working days from the insurer’s approval.
• Motor and other general insurance — cancellation after the free-look period follows the insurer’s short-period rate table. A refund may be small or nil.
• Travel — a rail, bus or air ticket cancellation is subject to the carrier’s charges and the timing of the cancellation. IRCTC, the bus operator or the airline deducts its cancellation fee and any convenience fee, and refunds the balance on its own schedule, typically three to seven working days for rail and up to fifteen working days for air.
• Commission earned on a cancelled policy or ticket is clawed back under section 9.

8. Wallet top-up failures

If your bank account was debited for a wallet load but the wallet was not credited, the money is either with the payment gateway or still in flight. In almost every case it reconciles on its own:

• UPI — credited or reversed within 30 minutes, at the outside by T+1.
• IMPS — credited or reversed by T+1 working day.
• NEFT — credited in the next settlement cycle, at the outside by T+2.
• Cash deposit through a distributor — credited once the distributor confirms; chase your distributor first, then us.

If it has not resolved by then, email support@mehaipay.com with the UTR of the debit and a screenshot of your bank statement line. We reconcile against the gateway record and credit the wallet, or confirm that the debit never reached us so you can take it up with your bank.

9. Commission on reversed transactions

Commission is paid on a successful transaction. When that transaction is later reversed, refunded or charged back, the commission is clawed back from your wallet. It appears on your statement as a negative entry carrying the same reference as the original credit, so the two can always be matched.

No commission is payable on a transaction that failed, that was never completed, or that is later found to be fraudulent. If your wallet balance is insufficient at the moment of a clawback, the amount is recorded as a negative balance and recovered from your next commission credit or wallet load.

10. How to raise a dispute

1. Find the transaction. Open the app, go to History, and locate it by date, amount or customer mobile number.
2. Note the reference. The RRN for AEPS and micro ATM, the UTR for a money transfer, the BBPS transaction reference for a bill, the operator reference for a recharge.
3. Check the status first. If it says Pending, wait out the window in section 3. Raising a dispute on a pending transaction does not speed it up.
4. Raise it. Tap Raise a dispute on the transaction screen, or email support@mehaipay.com from your registered email address.
5. Include everything. Agent ID, transaction date and time, amount, the RRN or UTR, the customer’s mobile number, what the app showed, what the customer’s bank SMS or passbook shows, and whether cash was handed over. Attach a photograph of the receipt if you have it.

You will receive a ticket number and an acknowledgement within 24 hours. We investigate against the switch record and, where needed, raise it with the bank, NPCI, the biller or the operator. A straightforward case is resolved within 3 working days. Where the matter depends on an external dispute cycle, resolution follows the maximum in section 3, and we update the ticket at least once every five working days until it closes.

Raise a dispute within 30 days of the transaction. After that the underlying network cycles have closed and there is very little anyone can do.

11. Escalation

If you are not satisfied with the outcome, take it up the ladder. Quote your ticket number at every step.

If a complaint is not resolved within thirty days, or you are not satisfied with the resolution, you may approach the RBI Ombudsman under the Reserve Bank – Integrated Ombudsman Scheme, 2021. The full process, with the forms and addresses, is on our grievance redressal page.

12. Compensation for delayed resolution

The Reserve Bank of India has harmonised the turnaround time for failed transactions and laid down compensation where that time is breached. We follow it.

Where a failed transaction is not reversed within the prescribed turnaround time, the affected customer is entitled to compensation of ₹100 for each day of delay, counted from the day after the TAT expires until the date the credit is made. The compensation is credited automatically, along with the reversal, without the customer or the agent having to ask for it. It is credited to the account that should have received the reversal — the customer’s bank account for an AEPS or micro ATM failure, the agent’s wallet where the wallet was debited.

Compensation is not payable where the delay is caused by something outside the payment system — for example an incorrect beneficiary account number supplied at the counter, or a customer account that is frozen by a court order.

13. Contact us

For a dispute, use the app or write to support. For anything this policy has not answered:

This policy is governed by the laws of India, and the courts at Kota, Rajasthan have exclusive jurisdiction. It is read together with our Terms of Service.

Related: Terms of Service · Privacy Policy · Grievance redressal process