Refund & Cancellation Policy

1. Scope

This Refund & Cancellation Policy applies to all transactions performed through the Setupay website, mobile application and partner panel operated by DEEPFI SERVICES PRIVATE LIMITED (“Setupay”, “we”, “us”). It should be read together with our Terms & Conditions (in particular Section 11 – Refunds, cancellations, reversals and failed Transactions).

2. Nature of digital transactions

Money transfers, AEPS withdrawals, recharges, bill payments and credit-card payments are executed in real time through banks, NPCI systems, operators and billers. Once a transaction is successfully completed and confirmed by the receiving bank, operator or biller, it cannot be cancelled or reversed by Setupay. Please verify the beneficiary, mobile number, consumer number and amount carefully before confirming any transaction.

3. Failed transactions

• Failed with instant reversal: if a transaction fails and the partner bank/operator returns a failure response, the debited amount is automatically credited back to your Setupay wallet, normally within a few minutes.
• Failed but amount debited (pending): where the status is pending or the partner has not confirmed, the amount is placed on hold. On receipt of the final status the amount is either settled or refunded to the wallet. Such cases are generally resolved within T+1 to T+3 working days, and in exceptional cases within the timelines prescribed by RBI/NPCI (up to T+7 working days).
• Do not repeat a transaction while its status is pending. Duplicate instructions are treated as separate transactions.

4. Money transfer (DMT) specific rules

• Transfers to an incorrect but valid account number provided by the remitter cannot be recalled by Setupay. We will assist by raising a request with the beneficiary bank; recovery depends on the account holder's consent.
• Where the beneficiary bank returns the funds (account closed, invalid, frozen, etc.), the amount is refunded to the retailer wallet upon receipt, typically within 3–7 working days.
• Always use beneficiary verification (penny-drop) before the first transfer to a new account.

5. AEPS specific rules

• If cash was not paid to the customer but the customer's bank account was debited, the customer must raise a dispute with their own bank; the issuing bank is responsible for resolution under NPCI's AEPS dispute framework (typically within 5 working days).
• Retailers must not hand over cash until the transaction shows Success in the Setupay panel and a receipt is generated.

6. Recharge and bill payment (BBPS) rules

• Recharges done on a wrong number or wrong operator/plan are not refundable once the operator confirms success.
• Bill payments confirmed with a BBPS reference number are final. If the biller has not updated the payment within 3 working days, raise a ticket with the BBPS reference and we will log a complaint with the biller through the BBPS complaint system.
• Failed recharges/bill payments are auto-refunded to the wallet.

7. Wallet load / Add Fund

• Funds added to the Setupay wallet are for use of Setupay services. Wallet balance may be withdrawn to the registered bank account of the partner subject to settlement charges (if any), verification and applicable law.
• Fund requests submitted with incorrect UTR or slip may be rejected; the money remains in your bank account and no refund from Setupay is involved.
• On account closure, remaining wallet balance (after adjusting dues, chargebacks and holds) is transferred to the registered bank account within 15 working days.

8. Onboarding, device and subscription charges

Any onboarding fee, device (biometric scanner) purchase or subscription charge, where applicable, is disclosed before payment. Device purchases are covered by the manufacturer's warranty; Setupay does not offer refunds on devices once activated. Onboarding fees are non-refundable once the account has been activated.

9. How to request a refund or raise a dispute

1. Log in to your panel → Help & Support → Raise a complaint, or email support@setupay.co.in with subject “Setupay Transaction Dispute”.
2. Provide the Transaction ID / UTR / BBPS reference, date, amount, beneficiary/consumer details and a short description.
3. You will receive a ticket number. Most disputes are resolved within 3–7 working days; complex bank-side cases may take up to 30 days.
4. If unsatisfied, escalate as per our Grievance Redressal Policy.

10. Mode and timeline of refund

All refunds are credited to the Setupay wallet from which the transaction was initiated. Refunds to the end customer (where applicable) are the responsibility of the retailer. Bank-initiated refunds follow the bank's timelines and are credited when received by Setupay.

11. Changes to this policy

We may update this policy from time to time. The updated version will be published on this page with a new “Last updated” date.

12. Contact