Terms of Refunds


  1. You may be charged a fee, charges or any other processing fee(s) by Your card issuer bank / financial institution for making payment to or on Shepays Platform. You understand that Shepays does not have any control over such charges or fee(s) and takes on liability of such charges. You are required to check for such charges or fee(s) with Your card issuing bank / financial institution.
  2. Any refund/reversals initiated by the merchants/billers or Shepays in case of non-fulfilment will be refunded back to the source account or might be credited to Your Shepays savings account or eGVs or to any other permitted financial instrument with Your consent.
  3. If you have opted for ‘subscriptions’ or recurring payment mandate, then you consent that the relevant amount will be charged to such card as per the mandate authorized by You. You agree that Shepays, Shepays Group, Shepays affiliates or such merchants/billers shall continue to charge the relevant amount to Your card until you terminate such instruction.
  4. As part of this continual innovation and improvement, we sometimes may add or remove features and functionalities, increase, or decrease limits to our Shepays Services, start offering new services or stop offering old ones on Shepays Platforms. Such offering can also be due to the discontinuation of any service or offering on the Shepays Platform by third-party service providers or business partners.
  5. Except as expressly provided herein and to the full extent permitted by law, the Shepays Services are provided “as is”, “as available” and “with all faults”. All such warranties, representations, conditions, undertakings and terms, whether express or implied, are hereby excluded. It is Your responsibility to evaluate the accuracy, completeness and usefulness of the Shepays Services and other information provided by Shepays or generally available. We do not authorize anyone to make any warranty on our behalf and You should not rely on any such statement.
  6. Shepays marks refunds as successful as soon as we receive confirmation from your card issuing bank that the money has reached them. This is because your bank does not inform us about depositing the money into your account. In case of card refunds, the money is deposited into your card account within 7 to 9 working days. However, sometimes your card issuing bank may take longer than usual due to technical difficulties or other issues in the banking system.
  7. If you see that your refund has not reached your bank account, please do not worry. Your money is absolutely safe with your card-issuing bank. You will receive the money within 9 working days from the date the refund was marked successful on your Shepays app.
  8. In the rare case that the refund amount is still not deposited into your card account even after 9 days, please contact your card issuing bank with the ARN provided by Shepays for this refund to raise a complaint. For ARN, please get in touch with a customer care executive.
  9. Shepays facilitates adding money to your savings account via Payment Gateway through any other banks Debit/Credit Card Payment facilitation services for You to make payments for products and services on Shepays App or to Shepays merchants/sellers. These transactions are between the merchants/billers and You and We are only acting as an intermediary. We facilitate the collection of payments from you and facilitate the settlement of such payments to the respective merchant/biller. In order to do so, we have entered into agreements with various Banks, Payment System Providers, as defined under the Payment and Settlement Systems Act, 2007, Card Associations and other payment processing system providers, to enable use of internet payment gateways provided by them in order to effect payments between you and the merchants/billers and provide clearing, payment and settlement services with respect to your transaction.
  10. The Virtual/Physical debit card shall not be issued or dispatched to the Customer on an unsolicited basis; rather the Customer shall expressly opt for this Service.
  11. The debit card shall be used in accordance with the Applicable Law, specifically the Foreign Exchange Management Act, 1999 and the rules and regulations framed thereunder.
  12. The Customer shall immediately notify the Bank (through any authorized channel or the NSDL Payments Bank Customer Care Centre) in case of any loss or theft or copying of the card; or any unauthorized transaction and any error or irregularity in maintaining the Account by the Bank.
  13. The Bank shall not be held liable in case of any loss incurred on account of any loss, theft or unauthorized use of the debit card or technical breakdown of the payment system, other than in case of a system malfunction directly within the Bank’s control or on account of any breach of security or failure of the security mechanism on part of the Bank. The Bank shall not be liable for any loss caused by a technical breakdown of the payment system if the breakdown was otherwise known to the Customer.
  14. The fees and charges applicable for the debit card Services shall be subject to the type of the debit card (i.e., Classic or Platinum debit card) and shall be specified in schedule of charges available on the Website.
  15. Upon usage of the debit card, the Account shall be debited within [3] days from the date of transaction.
  16. The debit card availed by the Customer shall be valid for only 5 years, subsequent to which the Bank shall undertake a renewal process, including submission of KYC or additional documents, subject to consent of the Customer.
  17. The Bank does not seek or reach out to the Customer for any information related to his PIN, password, OTP or CVV details of the debit card. The Customer shall not disclose such details to any person and shall take all appropriate steps to keep the debit card and its details safe. The Customer shall not record the PIN or CVV, in any form that may be accessible by any third party.
  18. The Bank shall notify the Customer in case of any changes to the Terms applicable to debit cards, 30 days prior to implementing any changes. Upon such notification, the Customer may surrender the debit card. In case no response is received from the Customer within 30 days, the amended Terms shall be applicable to the Customer and the Customer shall be deemed to have accepted the same.
  19. The Bank shall not share any information relating to the debit card or the Customer, without the specific consent of the Customer.
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