Refund & Cancellation Policy
Last updated: May 23, 2026
1. Purpose of This Policy
The purpose of this Policy is to establish clear rules regarding refunds & cancellations, responsibilities of merchants and customers, Ztake's limited role as a payment facilitator, procedures for initiating and processing refunds, conditions for allowing or denying refunds, timelines, charges, and settlement treatments.
Ztake maintains full compliance with RBI, NPCI, banking, and card network guidelines.
2. Role of Ztake
Ztake operates solely as a Payment Aggregator / Payment Facilitator and does not sell any product or service to customers. All refund decisions are entirely the responsibility of the Merchant.
Ztake cannot force a merchant to approve or deny a refund unless required by law, court order, bank mandate, card network rules, or risk/fraud triggers. Ztake facilitates the refund process only after the Merchant approves the refund.
3. Merchant Responsibility
Merchants must clearly display their own Refund, Return, Replacement, and Cancellation policy on their website, mobile app, checkout flow, and product pages.
Merchants are solely responsible for investigating refund requests, approving or rejecting claims, communicating outcomes to customers, and providing documentary proof during disputes. Ztake may impose penalties, holds, or risk reserves on merchants with excessive refund/chargeback ratios.
4. Types of Refunds
Full Refund
Returned when the merchant cancels or reverses the entire transaction amount.
Partial Refund
Returned when the merchant refunds only a portion of the transaction amount.
Auto-Refund
Triggered due to payment failures (e.g. bank downtime) without transaction confirmation.
Chargeback-Related
Initiated by the customer through their issuing bank following a formal dispute.
5. Timelines for Refund Processing
Once the Merchant approves a refund on the Ztake dashboard, Ztake processes it within Instant to 24 hours for UPI, T+1 to T+3 working days for Cards & Netbanking, and up to 7 working days for complex or high-risk cases.
Customer bank credit timelines:
- UPI refunds: Instant to 48 hours
- Debit/Credit Cards: 5–7 working days
- Netbanking: 2–4 working days
6. Conditions for Refund Eligibility
Eligible Scenarios
- Duplicate payment or failed transaction with amount debited.
- Payment made to incorrect merchant (verified cases).
- Merchant-approved refund request.
- Overcharge or incorrect amount charged.
- Merchant service/product non-delivery.
- Regulatory or bank-directed refund.
Ineligible Scenarios
- Customer change of mind (unless merchant policy explicitly allows).
- Merchant policy denial.
- Digital goods already downloaded/used.
- Fraudulent or unverified refund requests.
7. Refund Process (Step-by-Step)
- Step 1: Customer raises refund request by contacting Merchant directly.
- Step 2: Merchant verifies claim and reviews evidence.
- Step 3: Merchant approves/denies request and communicates to customer.
- Step 4: Merchant triggers refund on Ztake dashboard.
- Step 5: Ztake processes refund with banking partners.
- Step 6: Customer receives money credited to the same payment method.
8. Chargebacks & Bank Disputes
Customers may raise a dispute directly with their issuing bank. Ztake forwards all chargeback notifications to Merchants.
Merchants must provide proof within defined timelines (usually 48–72 hours). Failure to respond results in automatic chargeback loss. Ztake may recover the chargeback amount, penalties, fees, and legal costs from the Merchant's settlements.
9. No Liability Clause
Ztake is not liable for merchant denial of refund, delays caused by banks or card networks, issues with product delivery or service fulfillment, customer dissatisfaction, or quality/warranty of merchant goods.
Ztake only facilitates payments and refund routing and is not responsible for the underlying merchant services.