Refund & Cancellation Policy
Product: Near2Pay • Parent Entity: Sathus Technology Pvt. Ltd. • Status: Informational Draft
Demonstration Scope Notice:
Live financial transactions, payment cancellations, and money refunds are not active on this demonstration website. No actual charges are debited during simulated payment tests. This policy outlines the intended dispute and reversal principles planned for our future production integration.
1. Overview & Two-Tier Refund Framework
Near2Pay operates as a technology facilitator between educational institutions and families. Consequently, fee adjustments and refunds fall under two distinct categories:
A. Technical Gateway Reversals
Occurs when an amount is debited from a parent's bank account but the gateway transaction fails or drops before reaching the institution.
B. Institutional Academic Refunds
Occurs when a student withdraws admission, transfers school, or claims a fee concession post successful settlement.
2. Technical Failed Transaction Reversals
In our planned production release, technical transaction failures (such as bank timeouts, UPI network drops, or duplicate debits) will be governed by standard RBI turnaround time (TAT) guidelines:
- Amounts debited but not settled will be automatically reconciled via the acquiring bank network.
- Reversals are credited back to the parent's original payment instrument (UPI VPAs, source bank account, or card).
- Near2Pay will provide automated transaction UTR references to help parents track reconciliation with their issuing bank.
3. Institutional Policy Autonomy (School & College Discretion)
Near2Pay does not determine, influence, or override the fee refund policies of enrolled schools, colleges, or coaching centres. All decisions regarding admission fee cancellations, term fee refunds, caution deposit returns, or transport charge deductions are governed exclusively by the enrolled institution's official prospectus and management regulations.
Parents seeking fee refunds due to student withdrawal or category changes must apply directly to their respective school principal or college administration office.
4. Support Contacts for Technical Inquiries
For questions regarding transaction verification or payment rail status, please reach out via our Support Hub or email Sathus Technology Pvt. Ltd. at support@near2pay.com.