Cancellation & Refund Policy

Last updated: 9 September 2026 · Version: 1.0.0 · Effective date: 9 September 2026

1. Introduction

This Cancellation & Refund Policy ("Policy") of USR Enterprises Private Limited ("Company", "ZulePay", "we", "us", "our") explains when and how you may cancel a transaction, when refunds are initiated automatically, the timelines you can expect, and the fees that are non-refundable. It applies to all users and merchants of the ZulePay Services and forms part of our Terms & Conditions. Capitalised terms have the meanings given in the Terms.

We follow the refund timelines and customer-protection norms applicable to prepaid payment instruments and electronic transactions under Reserve Bank of India ("RBI") directions, and the Consumer Protection Act, 2019 read with the Consumer Protection (E-Commerce) Rules, 2020.

2. Company Information

USR Enterprises Private Limited CIN: U62011KA2026PTC224718 VO-843, WeWork 10th Floor, RMZ Latitude, No. 69/458/69, Hebbal Kempapura, Bengaluru – 560024, Karnataka, India Email: support@zulepay.com · Phone: +91 95381 07745

3. Scope

This Policy covers:

1. Wallet loads (UPI, cards, net-banking, wallet loads via our payment gateway, and VPA-based credits);
2. Person-to-person (P2P) and person-to-merchant (P2M) payments, both online and offline (ISUT);
3. Payment Requests (collect requests) and their expiry;
4. Bills and recharges (BBPS);
5. Withdrawals;
6. Merchant receipts, settlements and merchant-initiated refunds; and
7. Account closure and refund of remaining balance.

It does not cover disputes about the underlying goods or services purchased from a merchant — those remain governed by your contract with the merchant (Section 9).

4. Definitions

5. Cancellation of Wallet Loads

1. Before authorising payment at the gateway: you can simply close the payment page / cancel in the app. Nothing is debited; no fee applies.
2. After authorising but before we credit your wallet (pending state): you may request cancellation in the app or via support. If the gateway has not captured the payment, it is cancelled at once. If it has been captured, the load completes and a refund may be initiated instead (Section 6).
3. After credit to your wallet: a load cannot be "cancelled"; you may withdraw the balance (subject to the Terms) or request a refund to the Original Source for accidental loads. Refunds to Original Source are permitted for loads made within the last 30 days, limited to the amount still lying in your Main Wallet from that load, and are processed per Section 15.
4. Gateway-initiated cancellations: if the gateway expires, times out or fails an authorisation, any hold on your instrument is released by your bank/gateway per their timelines (typically within T+7 for cards).

6. Failed Transactions and Automatic Refunds

1. If a wallet load is debited from your source but fails or remains unconfirmed on our side, the amount is automatically refunded — to your Main Wallet instantly on reconciliation, or to your Original Source through the gateway.
2. If a P2P/P2M payment, withdrawal or bill payment fails after debiting your wallet, the amount is credited back to your Main Wallet automatically, generally immediately upon failure detection and in any case within T+1 of confirmation of failure.
3. For refunds to an Original Source (cards/net-banking/UPI), credit depends on your bank: typically T+3 to T+5 Working Days, and up to T+7 for card networks. The reference used to track the refund is shared in the app and on request.
4. If you do not see a refund within the applicable timeline, contact support with the transaction reference; we will provide the gateway refund reference (ARN/UTR) for you to trace with your bank.

7. Duplicate Payments

If the same payment is debited more than once (gateway retry, double-tap, merchant double-billing):

1. Report it in the app or at support@zulepay.com with the transaction references.
2. Verified duplicates are refunded automatically to the payer's Main Wallet (for wallet-to-wallet payments, generally the same day) or to the Original Source per Section 6.
3. Where a merchant received a duplicate, we may reverse the excess credit to the merchant's Pending Settlement balance and refund the payer.

8. Completed Payments Are Final

1. P2P and P2M payments are irrevocable once the recipient's wallet/ISUT is credited. ZulePay executes the payment instruction it receives; it does not adjudicate the underlying purpose.
2. Wrong recipient: if you sent money to the wrong identifier, we will, on your request and at our discretion, attempt to contact the recipient and seek a voluntary return. We cannot force a reversal without the recipient's consent or a valid legal/regulatory direction (court order, police cybercrime direction, or RBI-mandated process). For cyber-fraud cases, we cooperate with law enforcement and the banking system's fraud-response processes (e.g., freeze/return directions).
3. Nothing in this Section limits your statutory rights under the Consumer Protection Act, 2019 or the RBI's limited-liability framework for unauthorised transactions (Section 13).

9. Disputes About Goods or Services (Merchant Payments)

1. ZulePay is a payment platform; the merchant is responsible for the goods/services. First raise the issue with the merchant.
2. If the merchant agrees to refund, they can initiate a merchant refund (Section 10), which returns the payment to you.
3. For assistance, contact us with the payment reference, merchant details and the nature of the dispute; we will endeavour to help facilitate communication with the merchant for a period of up to 30 days from your complaint. Where multiple complaints are established against a merchant, we may take action against the merchant's account (holds, termination) as permitted by the Terms.
4. Certain consumer-protection rights (repair/replacement/refund for defective goods) are enforceable against the seller under the Consumer Protection Act, 2019; this Policy does not extinguish those rights.

10. Merchant-Initiated Refunds

1. A merchant may refund a payment you made to them (full or partial) where the feature is available.
2. Refunds are credited to your Main Wallet by default; on your request (and where the original instrument supports it), the merchant refund may be routed to the Original Source through the gateway, in which case bank timelines in Section 6 apply.
3. The merchant's MDR on the refunded transaction is reversed to the merchant where the gateway/biller process permits; GST on the reversed fee follows tax rules.
4. Merchant refunds are usually credited to your wallet within 24 hours of the merchant initiating them.

11. Offline ISUT Payments — Cancellation, Expiry and Auto-Return

1. Before transfer: while preparing an offline payment you can cancel at any confirmation step; nothing leaves your device and no fee applies.
2. Before the recipient redeems: once generated, an ISUT is single-use and its spending power is destroyed on your device; you cannot "cancel" a transferred ISUT. The recipient must voluntarily return it (e.g., by sending the amount back) — there is no unilateral claw-back.
3. Expiry auto-return: every ISUT has a 30-minute validity. If the recipient does not redeem it within the validity window, the ISUT expires automatically and the amount is returned to you — credited back to your Offline Pocket/Main Wallet as soon as your device is online and the expiry is synchronised. No fee is charged for an expired-and-returned ISUT.
4. Merchant did not receive / cannot redeem: if a recipient reports a failed redemption (e.g., damaged QR, transfer interrupted), and the ISUT is unredeemed after expiry, the auto-return in clause 3 applies. If the ISUT was redeemed but the merchant says it was not credited, we will reconcile from ledger and device records and correct any discrepancy.
5. Disputed offline payments: for disputes, both parties should retain the in-app receipt; the cryptographic evidence and our ledger resolve authenticity.

12. Bills and Recharges — Failures and Refunds

1. If a bill payment or recharge fails or times out per BBPS timelines, the amount is refunded automatically — to your Main Wallet (instant on reconciliation) or to your Original Source (per Section 6 timelines), depending on how you paid.
2. Successful-but-not-delivered recharges (e.g., operator delay): operators usually post the recharge late; if the operator confirms failure, refunds follow clause 1. For "successful" transactions where you allege non-delivery, we will raise a complaint with the biller/operator through BBPS; refunds depend on the operator's response (typically up to T+5–T+7).
3. Duplicate bill payment: if you paid the same bill twice and the biller adjusts only one, the excess follows Section 7.
4. Bill payments are not cancellable once the biller has accepted them.

13. Unauthorised Transactions and Your Liability

1. We send you notifications/alerts for transactions on your account. Please review them.
2. Per the RBI's circular on Customer Protection — Limiting Liability of Customers in Unauthorised Electronic Banking Transactions, and as adopted by us:
   • If you notify us within 3 Working Days of receiving our communication of an unauthorised transaction, you bear zero liability; the amount is returned to your wallet within 10 Working Days of notification.
   • Where notification is delayed (4–7 Working Days), the transaction risk may be shared per the framework; beyond that, liability is determined per the framework and the facts (e.g., contributory negligence such as sharing your PIN/OTP may shift liability to you).
3. Notify us immediately through the app, at support@zulepay.com or +91 95381 07745, and also report cyber-fraud to the national helpline 1930 / cybercrime.gov.in where applicable.
4. Zero-liability does not apply to losses caused by your own sharing of credentials, or collusion, as determined by law.

14. Fees That Are Not Refunded

1. Load/convenience fees collected on a wallet load are not refunded merely because you later spent or withdrew the money, or closed your account. If the load itself failed, any fee charged on it is refunded automatically along with the amount.
2. MDR / platform fee is earned on completed merchant receipts. It is reversed only when the underlying transaction is refunded to the payer.
3. GST follows the underlying fee — reversed when the fee is reversed, retained when it is not.
4. Fees displayed and charged before confirmation are deemed accepted; there are no hidden charges.

15. Refund Timelines Summary

16. Account Closure and Balance Refund

1. You may close your account as described in the Terms. Before closure: de-provision your Offline Pocket, ensure there are no unredeemed ISUTs you intend to keep (unredeemed ISUTs expire per Section 11 and return to you), and clear any dues.
2. Your remaining Main Wallet balance (net of dues and applicable charges) is remitted to your verified bank account in your name within 5 Working Days of closure approval, via the banking system.
3. Balances below a de-minimis threshold may be refundable on request; dormant-account treatment follows RBI norms for unclaimed balances (transfer to the RBI's Depositor Education and Awareness Fund after the prescribed period, reclaimable from the Fund).

17. How to Request a Cancellation or Refund

1. In-app: open the transaction in your activity feed and use "Report an issue" where available.
2. Support: write to support@zulepay.com with your registered mobile/email, transaction reference, date and amount, and a short description; or call +91 95381 07745.
3. Please raise requests within 30 days of the transaction (we may consider later requests at our discretion where law permits or the underlying process allows, e.g., chargebacks).
4. We will acknowledge within 48 hours and keep you informed of status until resolution or rejection with reasons.

18. Grievance Redressal and Escalation

Chethan Kumar TP — Grievance Officer USR Enterprises Private Limited, VO-843, WeWork 10th Floor, RMZ Latitude, No. 69/458/69, Hebbal Kempapura, Bengaluru – 560024, Karnataka, India Email: support@zulepay.com · Phone: +91 95381 07745

1. Level 1 — Support: acknowledgement within 48 hours; resolution target within 30 days of the complaint.
2. Level 2 — Grievance Officer: if unresolved or dissatisfied after Level 1, or after 30 days, escalate to the Grievance Officer, who will respond within the timelines prescribed under the Consumer Protection (E-Commerce) Rules, 2020.
3. Level 3 — Ombudsman / fora: if the complaint is rejected or not resolved within 30 days, you may approach the Reserve Bank – Integrated Ombudsman Scheme, 2021 (RBI CMS portal), consumer fora under the Consumer Protection Act, 2019, or, for data-protection matters, the Data Protection Board of India.

19. Withdrawal Cancellations

1. A withdrawal request in pending state may be cancelled in the app (if the feature is shown) or by contacting support before it is dispatched to the banking channel; the amount returns to your Main Wallet immediately.
2. Once dispatched, a withdrawal cannot be cancelled; if it is returned by the bank (wrong account, name mismatch, frozen account), the amount is credited back to your Main Wallet within T+1 of the return reaching us, and bank return timelines apply (typically T+1–T+3).

20. Amendments and Versioning

1. We may update this Policy from time to time. Every version carries a version number and effective date at the top; the current version is always available at https://zulepay.com/cancellation-refund-policy.
2. Material changes will be notified in the app and/or by other channels before they take effect. Continued use after the effective date constitutes acceptance where consent is not separately required.
3. Version history is maintained, and the app records which version you accepted, when, and on which device.

21. Governing Law and Jurisdiction

This Policy is governed by the laws of India. Subject to the escalation in Section 18, the courts at Bengaluru, Karnataka, India shall have exclusive jurisdiction, without prejudice to statutory rights to approach consumer fora or other authorities.

22. Contact Us

USR Enterprises Private Limited CIN: U62011KA2026PTC224718 VO-843, WeWork 10th Floor, RMZ Latitude, No. 69/458/69, Hebbal Kempapura, Bengaluru – 560024, Karnataka, India Email: support@zulepay.com · Phone: +91 95381 07745