Refund & Cancellation Policy

Last updated: May 1, 2024

1. Overview

This Refund and Cancellation Policy outlines the conditions under which transactions processed via SIVO (SIRAV INDIA LLP) can be cancelled or refunded. Because SIVO processes real-time financial transactions on behalf of billers and banks, specific rules apply based on the service type.

2. Bill Payments (BBPS) & Recharges

  • Successful Transactions: Once a bill payment, mobile recharge, or DTH recharge is successful and confirmed by the biller/operator, it cannot be cancelled or refunded by SIVO. Any dispute regarding the service must be taken up directly with the respective biller/operator.
  • Failed Transactions: If a customer's account is debited but the transaction fails at the biller's end, the amount will be automatically refunded to the original payment source within 3 to 5 business days.

3. Money Transfer (IMPS/NEFT)

  • Transactions routed to a valid account number are final and cannot be reversed. SIVO is not responsible for funds transferred to an incorrect account number provided by the user.
  • If an IMPS/NEFT transaction fails due to network issues but the sender's account is debited, the auto-reversal process initiated by the bank will credit the amount back within 48 to 72 hours.

4. AePS & Cash Withdrawals

For AePS transactions, if the customer's bank account is debited but cash is not dispensed by the agent (Timeout/Deemed Success), the customer's issuing bank will automatically reverse the transaction within T+5 working days as per NPCI guidelines. The customer must contact their bank for chargebacks.

5. Merchant Payments (QR/UPI)

For payments made to merchants via SIVO QR codes, customers seeking a refund for goods/services must contact the merchant directly. SIVO will process refunds only upon explicit API request from the merchant.

6. B2B Wallet Top-ups

SIVO partners and agents transferring funds into their SIVO wallet for business operations can request a refund of unutilized balances subject to a closure of their account and deduction of any applicable administrative charges.