Legal

Refund and Cancellations Policy

Effective Date: 1st April 2026  ·  Absird Financial Technologies Private Limited (RocketPay)  ·  CIN: U72900KA2022PTC160353

1. Introduction

This Refund and Cancellations Policy (“Policy”) applies to all services provided by Absird Financial Technologies Private Limited, operating under the brand name “RocketPay” (“Company”, “we”, “our”, or “us”).

RocketPay is a B2B collections and recovery infrastructure platform. We do not process consumer-to-merchant payments or one-time retail transactions. Our services consist of:

• UPI Autopay mandate management — enabling recurring debit collections from End-Users on behalf of Customers;
• eNACH mandate management — enabling recurring bank account debit collections via the NACH framework;
• Device Locking (Trustonic / Google DLC) — enabling lenders to lock financed mobile devices upon payment default;
• Platform subscription and usage fees — charged to Customers for access to the Platform.

This Policy sets out the rules for cancellation of mandates, refunds arising from wrongful debits, and RocketPay’s own platform fee refund terms. It does not govern refunds or disputes between Customers and their End-Users under the underlying loan, financing, or commercial agreement — those are the Customer’s sole responsibility.

2. UPI Autopay Mandate — Cancellation

2.1 End-User Cancellation Rights

End-Users have the right to cancel a UPI Autopay mandate at any time. Cancellation can be done through:

• The UPI-enabled app used to register the mandate (e.g., BHIM, Google Pay, PhonePe, Paytm, or any bank’s UPI app) — by navigating to Manage Mandates or Autopay settings;
• Contacting the Customer (lender, MSME, or business) who set up the mandate;
• Contacting RocketPay at support@rocketpay.co.in for assistance.

Once a cancellation request is successfully processed through the UPI app, the mandate is deactivated on the NPCI network and no further debits will be initiated. Cancellation is effective at the network level — RocketPay cannot override or delay a mandate cancellation that has been completed through the UPI ecosystem.

2.2 Customer-Initiated Cancellation

Customers may cancel active UPI Autopay mandates at any time through the RocketPay Platform dashboard or API. Customers must cancel mandates that are no longer valid — for example, where a loan has been fully repaid or a commercial relationship has ended. Failure to cancel stale mandates that result in wrongful debits is the Customer’s liability.

2.3 Wrongful Debit — UPI Autopay

A wrongful debit occurs when an amount is debited from an End-User’s account without a valid, active mandate or in excess of the authorised mandate amount. If an End-User believes they have been wrongfully debited:

• Step 1: Contact the Customer (the lender or business that set up the mandate) first, as they are the Data Fiduciary and party to the mandate.
• Step 2: If not resolved, contact RocketPay at support@rocketpay.co.in with the transaction reference number, date, amount, and UPI ID.
• Step 3: RocketPay will investigate with the relevant payment network and initiate a refund where a wrongful debit is confirmed.

3. eNACH Mandate — Cancellation

3.1 End-User Cancellation Rights

• Contacting their bank directly — the bank can cancel the mandate at the account level;
• Contacting the Customer who registered the mandate and requesting cancellation;
• Writing to RocketPay at support@rocketpay.co.in for assistance in raising the cancellation with the sponsor bank.

Once a cancellation request is processed through the bank or sponsor bank network, no further debit presentations will be accepted against that mandate.

3.2 Customer-Initiated Cancellation

Customers may cancel eNACH mandates through the RocketPay Platform. The cancellation is submitted to the NACH network via the sponsor bank and takes effect within the NPCI/NACH-prescribed processing window (typically 1–2 business days). Customers must not present debits against a mandate after initiating cancellation.

3.3 Dishonoured Presentations

Where an eNACH presentation is dishonoured (returned by the End-User’s bank), no debit occurs and no refund is applicable. Dishonour charges, if levied by the banking network, are borne by the Customer per the fee schedule agreed during onboarding.

3.4 Wrongful Debit — eNACH

• Step 1: Contact the Customer who set up the mandate.
• Step 2: If unresolved, contact RocketPay at support@rocketpay.co.in with the NACH mandate reference, date of debit, and bank account details.
• Step 3: RocketPay will raise a return/reversal request with the sponsor bank. Refunds are subject to the NACH network’s return processing timelines.

4. Device Locking — Cancellation and Wrongful Lock

4.1 Cancellation of Device Locking Service

Customers may cancel their Device Locking subscription through their Customer Agreement or by notifying RocketPay at support@rocketpay.co.in with 30 days’ written notice. Upon cancellation:

• All active device locks managed through the Platform must be deactivated by the Customer before or at the time of cancellation;
• RocketPay will decommission the Customer’s access to the Trustonic/DLC infrastructure;
• Any devices that are locked at the time of cancellation remain the Customer’s responsibility to unlock directly through Trustonic’s portal or via their own integration.

4.2 Individual Device Lock Cancellation (Unlock)

When an End-User settles their overdue payment, the Customer must initiate an unlock instruction through the RocketPay Platform within a reasonable time. RocketPay will transmit the unlock instruction to the Trustonic infrastructure. Actual unlock is subject to the device being connected to a network at the time of the instruction.

4.3 Wrongful Device Lock

A wrongful device lock occurs when a device is locked without a valid default condition, or is not unlocked promptly after payment. This is a serious matter with potential consumer protection implications.

If an End-User believes their device has been wrongfully locked or not unlocked after payment:

• Step 1: Contact the Customer (lender or retailer) immediately — they control the lock/unlock instruction.
• Step 2: If the Customer is unresponsive, contact RocketPay at support@rocketpay.co.in with the device IMEI, Customer name, and details of the payment made.
• Step 3: RocketPay will investigate and, where a wrongful lock or failure to unlock is confirmed, will escalate with the Customer and, where necessary, take action under the Customer’s service agreement.

RocketPay does not control the business decision to lock or unlock a device — that is the Customer’s sole authority. However, RocketPay will not facilitate device locking that it knows to be in violation of the Customer’s financing agreement or RBI’s Device Locking Compliance framework. Customers found misusing the Device Locking feature may have their access suspended.

5. RocketPay Platform Fee Refunds

5.1 General Rule

Platform fees paid to RocketPay — including subscription fees, per-transaction fees, and onboarding fees — are generally non-refundable once the service period has commenced or the transaction has been processed.

5.2 Exceptions — When Platform Fees May Be Refunded

Scenario	Refund Eligibility	Process
Duplicate charge — same fee charged twice due to a billing system error	Full refund of the duplicate charge	Auto-credited or refunded within 7 business days of confirmation
Service not delivered — RocketPay fails to activate a paid feature within the agreed timeline	Pro-rata refund for the period the service was unavailable	Raised via support; processed within 10 business days of confirmation
Onboarding fee — Customer onboarding rejected by RocketPay after payment	Full refund of onboarding fee	Refunded within 7 business days of rejection notice
Transaction fee for a mandate execution that failed due to RocketPay platform error (not network error)	Refund of the specific transaction fee	Raised via support with transaction reference; processed within 7 business days of confirmation

5.3 Non-Refundable Items

• Subscription fees for a period already commenced and services made available;
• Per-transaction fees for mandate presentations that were successfully submitted to the NPCI/NACH network, regardless of whether the debit was successful at the End-User’s bank;
• Setup and integration fees once technical integration has been completed;
• Fees for API calls made against the Platform, regardless of the outcome;
• Any fees waived or discounted under a promotional arrangement — the pre-discount rate applies for refund calculations;
• Unused subscription balance where the Customer voluntarily terminates mid-period — fees are charged for the full billing period.

6. Refund Timelines

Once a refund is confirmed and approved by RocketPay, the following timelines apply for credit to the originating account:

Refund Type	Processing Time	Credit Timeline
Wrongful UPI Autopay debit — confirmed by NPCI	3–5 business days from NPCI confirmation	Credited to originating bank account within NPCI settlement cycle
Wrongful eNACH debit — confirmed return via sponsor bank	5–7 business days from return confirmation	Credited via NACH return credit
Platform fee refund (billing error / service not delivered)	7–10 business days from confirmation of refund approval	NEFT/IMPS to Customer’s registered bank account
Prepaid credit balance refund at closure	14 business days from account closure	NEFT to Customer’s registered bank account

All timelines are subject to banking network availability and may be extended during public holidays or banking system outages. RocketPay is not responsible for delays attributable to the receiving bank’s processing times.

7. How to Raise a Refund or Cancellation Request

7.1 Customers (Businesses and Lenders)

Raise a support request at support@rocketpay.co.in with the following information:

• Your registered business name and Customer ID;
• Nature of the request — refund type or cancellation type;
• Relevant transaction reference, mandate reference, or invoice number;
• Amount in dispute and date of the original transaction or charge;
• Supporting documentation where applicable (bank statement, settlement report, etc.).

7.2 End-Users (Borrowers / Debtors)

End-Users should first contact the Customer (the lender or business) who set up the mandate. If the issue is not resolved, contact RocketPay at:

• Email: support@rocketpay.co.in
• Phone: +91 8951158001 (Monday to Friday, 10:00 AM to 6:00 PM IST)

Provide: your name, mobile number, the disputed debit amount, date, and the name of the business that set up the mandate.

8. Scope Limitations — What RocketPay Cannot Process

RocketPay cannot process refunds for:

• Disputes between a Customer and an End-User about the loan amount, EMI schedule, interest charges, or principal balance — these are governed by the Customer’s loan or financing agreement;
• Amounts debited correctly under a valid active mandate that the End-User now disputes on commercial grounds with the Customer;
• Failed debits — no money leaves the End-User’s account on a failed debit, so no refund applies;
• Amounts collected and settled to the Customer — once funds are settled to the Customer’s bank account, any refund to the End-User must be initiated by the Customer directly;
• One-time UPI payments or card transactions — RocketPay does not process these transaction types.

9. Escalation and Grievance Redressal

9.1 First-Level Resolution

All refund and cancellation requests are handled by our support team. We will acknowledge requests within 2 business days and aim to resolve them within 7 business days. For complex cases involving network-level investigation (NPCI or bank), resolution may take up to 30 business days.

9.2 Grievance Officer

Name	Arpit Bajpai
Designation	Compliance Officer
Company	Absird Financial Technologies Private Limited (RocketPay)
Address	Building Number 917, 1st Floor, 5th Main Rd, Sector 7, HSR Layout, Bengaluru
Email	support@rocketpay.co.in
Phone	+91 8951158001
Resolution Timeframe	30 days from receipt of escalation

9.3 Regulatory Escalation

• RBI Ombudsman (rbiombudsman.org.in) — for payment system grievances including UPI and NACH mandate disputes;
• NPCI Dispute Resolution — for UPI Autopay-specific network disputes;
• National Consumer Helpline (1800-11-4000) — for consumer protection matters.

10. Governing Law

This Policy is governed by the laws of India. Any disputes arising out of or in connection with this Policy shall be subject to the exclusive jurisdiction of the competent courts in Bengaluru, Karnataka.

11. Amendments

We may update this Policy from time to time. Material changes will be communicated to registered Customers via email or platform notification at least 30 days before the change takes effect. The current version of this Policy is available at rocketpay.co.in/refundandcancellations.

— End of Refund and Cancellations Policy —
Absird Financial Technologies Private Limited | RocketPay | rocketpay.co.in