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1. General Refund Principles
This Policy governs all refunds for services offered through the Laraware Authorized Digital Platform.
By using the platform, the Partner agrees that Laraware:
- Is a technology service provider, not a bank or payment aggregator
- Does not hold customer funds
- Does not reverse transactions on demand
- Does not provide refunds except where expressly mandated by banking partners or NPCI
All refunds are governed strictly by banking rules, NPCI guidelines, and service provider settlement norms.
2. No Refund on OTC Fees / Service Fees
Laraware Private Limited charges various service fees, including:
- OTC (Over-The-Counter) Fee
- Convenience Fee
- Platform Fee
- AEPS charges
- BBPS charges
- DMT charges
- Payout charges
- API charges
- Wallet load charges (if applicable)
These fees are NON-REFUNDABLE under all circumstances.
Once charged, they cannot be reversed, refunded, adjusted, or waived.
Even if:
- Customer changes mind
- Transaction fails due to customer mistake
- Partner input error occurs
- Service downtime occurs
- Bank server fails
- Customer disputes
3. AEPS, BBPS, DMT, Recharge, UPI Load – No Refund Policy
3.1 AEPS Transactions
AEPS withdrawals, balance inquiries, and mini statements cannot be refunded, because:
- Bank executes the withdrawal
- Amount is debited from customer's bank
- Laraware does not control fund flow
3.2 BBPS Payments
BBPS bill payments are final and irreversible.
No refund possible if:
- Wrong consumer ID entered
- Customer provides incorrect details
- Biller declines reversal
Refunds only if biller initiates reversal — not Laraware.
3.3 Recharge Services
Mobile/DTH/Broadband/OTT recharges:
- Once processed → NON-REVERSIBLE
- No refund for wrong number or plan
3.4 Domestic Money Transfer (DMT)
DMT transactions:
- Are final
- Cannot be reversed
- Refund only if beneficiary bank rejects
3.5 UPI Wallet Load
Wallet load via UPI can never be refunded.
Reason:
- Wallet is not a bank account
- Funds are treated as prepaid business balance
- Payout/withdrawal not meant for refund
4. Payout Failed – Refund / Reversal Policy
This is the ONLY place where refund (reversal) is applicable, because it depends on the bank.
- If payout fails at bank level → amount returned automatically
- Refund timeline is standard banking turnaround time (T+1 to T+5)
- Laraware CANNOT speed up or manually process payout refunds
Timeline Explanation:
| Reason |
Refund Timeline |
| Beneficiary Bank rejects payout |
T+1 to T+3 working days |
| Wrong IFSC but account exists |
T+1 to T+5 working days |
| Bank downtime |
When bank completes reconciliation |
| IMPS technical reversal |
Within 24 hours (bank dependent) |
Partner understands:
- Refund will return to Partner's wallet, not bank account
- No manual refund is possible
- No guarantee of exact timeline
- Bank's decision is final
5. Company Non-Liability Clause
Laraware is NOT responsible for delay or non-refund if the issue is caused by:
- Bank downtime
- NPCI switch failure
- Biller server issue
- Customer mistake
- Partner wrong input
- AEPS biometric/customer issue
- Banking reversal delay
- External operator/server failure
Laraware has ZERO control on banking settlement systems.
6. Chargeback or Cyber Complaint — No Refund from Laraware
If a customer files:
- Chargeback
- Dispute
- Cyber fraud complaint
- Transaction reversal request
Partner agrees:
- Laraware will NOT refund any amount
- Only the concerned Bank/NPCI decides
- Partner bears full liability
- Wallet may be frozen until investigation completes
Laraware is NOT a settlement authority.
7. Final and Binding Refund Terms
Partner agrees:
- No refund of fees, OTC charges, platform charges
- No refund for operational mistakes
- No refund of service charges
- No refund of wallet load
- ONLY payout-failed refunds follow banking timelines
This policy overrides:
- Verbal promises
- Messages
- Customer requests
- Partner demands
- Threat calls
- Support tickets
Contact Information
For refund-related queries:
- Company: Laraware Private Limited
- Email: support@laraware.com
- Website: www.nxtbanking.ai
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