Last Updated: August 2026

Refund Policy

Introduction

This policy is created by Nixafin Technologies Private Limited (hereinafter referred to as the “Company” or Nixafin or “We”) to clearly document guidelines & practices followed by the Company for refund in the course of its RBI Compliant businesses.

Objective

  • Customer requesting for refund of a transaction to the merchant.
  • In case merchant faces any technical issue while processing the refund at their end, Nixafin to assist in processing the refund from Nixafin platform. Nixafin to ensure that that refunds are process to the source account.

Process

  • As per the standard process, customer raises a refund request with the merchant for the transaction.
  • Merchant evaluates the refund request.
  • Merchant will refund the transaction from his platform successfully
  • Refunds are offered via API and Nixafin command centre using merchant login
  • Refunds can only be follow-on refunds when using API or portal. No stand-alone refund is supported through these channels.
  • All refunds using API and Nixafin command centre always refund to the original source of the payment
  • Merchant faces technical issue while refunding the transaction from their end.
  • In case if the merchant faces a technical issue merchant will reach out to Nixafin to process the refund.
  • Merchant would be requested to shares the transaction details/unique transaction identifier for Nixafin to process the refund on merchant's behalf
  • As as exception, Nixafin offers refunding service to merchants on their request and ensures that refunds are always processed to the source account as per the existing regulatory guidelines
Note: Once the refund is processed from Nixafin the same will reflect on to customers account within 3 to 5 working days.

Policy Review

The Policy shall be reviewed as and when required (at least annually), or when significant regulatory changes occur to ensure its continuing suitability, adequacy, and effectiveness for incorporating any updates / regulatory changes. The changes must be approved by the Board of the Company.