Refund Policy

Definitions

“Collexo Platform”: Collexo website(s), mobile application and/or other online platforms “Collexo Pixi”: A prepaid payment instrument issued by Transcorp with Collexo (a product of NoPaperForms) as the Co-branding partner as per the rules and procedures defined by RBI and shall refer to a Minimum details Prepaid Payment Instrument (“Small PPI”) or a Full KYC Prepaid Payment Instrument (“Full KYC PPI”) or a Full KYC Wallet Non Face-to-face Aadhaar OTP Based (“Full KYC- Non F2F Wallet”), as applicable. “Merchant/Vendor”: shall mean any establishment and/or entity which accepts Collexo services as a payment method for online or offline purchase of goods and/or services. “User(s)”: shall mean the end user of the Collexo Platform

1. General Conditions

• Collexo acts as a payment facilitator and intermediary and does not own or claim ownership over products or services provided by merchants/vendors.
• Refunds, if applicable, are governed by the terms and conditions of the respective merchant/vendor.
• Collexo holds no responsibility for refund processing, cancellation charges, or addressing any associated disputes.

2. Refunds of Payments and Transactions

• Collexo does not guarantee the reversal or refund of payments made to wrong parties or for incorrect amounts. Users are solely responsible for ensuring the accuracy of beneficiary details and transaction amounts.
• Once a payment order is executed, it is deemed irrevocable and cannot be reversed by Collexo.
• If the customer has paid twice for one transaction, the excess amount would either get automatically refunded within 30 days or you would need to contact the respective merchant/vendor for the refund.
• Any amount transferred erroneously by the user to an incorrect account or party shall not be refunded by Collexo. Users must contact the recipient directly to resolve such issues.
• Users are advised to carefully review the terms and conditions provided by merchants/vendors before initiating transactions.
• All disputes related to product quality, service delivery, warranties, or refunds must be resolved directly between the user and the merchant/vendor.
• Approved refunds for Collexo Pixi card transactions will be credited to the user’s Collexo Pixi wallet account only.
• Approved refunds for transactions done via the Collexo platform via any other payment method will be credited as per the merchant/vendor’s refund policy.
• In the case of refunds involving promotional cashback, the cashback amount will be adjusted from the refund amount.

3. Refund of Fees and Charges

• Any fees charged by Collexo or its affiliates, including but not limited to replacement, renewal, handling, or other charges associated with the issuance or management of the card and/or wallet, payment gateway and handling charges, are non-refundable, non-transferable, and non-assignable for any reasons whatsoever.

4. Refunds in case of Lost or Stolen Cards

• If the Collexo Pixi card (issuer: Transcorp) is lost or stolen, the cardholder must immediately block the card using the Collexo app and report the loss/theft to Transcorp Customer Care. Upon receipt of such intimation, Collexo Pixi/Transorp shall, upon adequate verification, block/hotlist the card and terminate all associated facilities. The cardholder will remain liable for any charges incurred on the card until the loss/theft is reported.
• Failure to block the card and report the loss/theft promptly or to comply with the prescribed steps will result in the cardholder bearing full financial liability for any misuse.
• Collexo and it’s affiliates are not liable for refunding the balance on the card in cases of loss/theft. Offline transactions processed before or after the report of loss/theft will continue to be received.
• Any unutilized balance on the card chip will be held until the card’s expiry and subsequently refunded to the cardholder’s wallet or linked bank account within 5-7 business days after the card’s expiration.

5. Refunds of NCMC Wallet

• The balance in the NCMC Wallet cannot be blocked and is vulnerable to misuse if the card is lost, misplaced, or stolen.
• Collexo and its issuing partner Transcorp will not bear any liability for the residual balance in the NCMC Wallet in cases of loss or misuse.
• Funds transferred to the NCMC Wallet cannot be refunded or transferred under any circumstances.

6. Refunds in case of Prepaid Payment Instrument (PPI) Expiry

• The PPI issued by Transcorp will remain valid for up to 5 years from the date of issuance.
• Transcorp and Collexo will notify the customer via SMS on the registered mobile number 45 days prior to the expiry of the PPI.
• Customers must utilize the remaining balance before the expiry date.
• If the balance remains unutilized after the expiry period, customers can approach Transcorp for a refund or transfer of the outstanding balance.
• If the customer does not claim the balance within the period specified by regulatory guidelines, the outstanding amount will be transferred to a fund or managed in compliance with applicable regulations.