Refund and Cancellation Policy

Platform: Cashmo
Company: Arthvriksh Digital Solutions Pvt. Ltd.
Registered Office: Biswan, Sitapur, Uttar Pradesh, India
Effective Date: April 20, 2026
Version: 1.0

01  Introduction

This Refund and Cancellation Policy ("Policy") sets out the terms and conditions governing refunds, cancellations, and reversals of transactions conducted on the Cashmo platform, website, mobile application, and all associated services (collectively referred to as the "Platform") operated by Arthvriksh Digital Solutions Pvt. Ltd. (hereinafter referred to as "Cashmo", "Company", "We", "Us", or "Our").

Cashmo is committed to providing transparent, fair, and legally compliant refund and cancellation procedures to all its Users. This Policy has been formulated in accordance with the Payment and Settlement Systems Act, 2007, RBI guidelines on failed transactions and customer grievances, Consumer Protection Act, 2019, and all other applicable Indian laws and regulations.

By using the Cashmo Platform and initiating any transaction, You acknowledge that You have read, understood, and agree to be bound by this Policy.

02 Definitions

Term Meaning
Transaction Any financial activity initiated through the Cashmo Platform
Failed Transaction A transaction where the User's account is debited but the intended service is not delivered
Pending Transaction A transaction that has been initiated but not yet completed or confirmed
Successful Transaction A transaction that has been fully processed and confirmed by the system
Refund Return of the debited amount to the User's source account or Cashmo Wallet
Cancellation Termination of a transaction before its completion
Chargeback A dispute-initiated reversal of a transaction through the card network or bank
Wallet The digital prepaid account maintained by Cashmo for the User
User Any registered individual, retailer, distributor, or API partner using the Platform
Service Provider Third-party operators including telecom companies, utility providers, banks, and NPCI

03 GENERAL PRINCIPLES

  • Cashmo processes digital financial transactions in real time. Due to the instantaneous and irreversible nature of most digital payment services, successfully completed transactions are generally not eligible for cancellation or refund.
  • Refunds shall be processed only in circumstances expressly recognized under this Policy.
  • Each refund or cancellation request shall be independently evaluated by Cashmo based on transaction records, system logs, and third-party confirmation.
  • Cashmo's decision on refund eligibility, following investigation, shall be final and binding, subject to the User's right to escalate to regulatory authorities as provided under this Policy.
  • Cashmo does not guarantee refund outcomes in cases involving third-party service provider failures where Cashmo has successfully transmitted the transaction.
  • Submission of fraudulent, false, or exaggerated refund claims shall result in immediate account suspension and may attract legal action.

04 CANCELLATION POLICY

1. Cancellation Before Processing

  • A transaction may be cancelled by the User only if it has not yet been processed or transmitted to the relevant Service Provider or payment network.
  • Due to the real-time nature of digital transactions on the Cashmo Platform, the window for cancellation is extremely limited and may not be available in all cases.
  • Where a cancellation window is available, it shall be clearly indicated on the transaction confirmation screen prior to final submission.
  • Once a transaction has been submitted and is in "Processing" or "Pending" status, cancellation may not be possible.

2. Cancellation of Scheduled Transactions

  • Where the Platform offers the facility of scheduling future transactions, such scheduled transactions may be cancelled by the User up to 2 hours before the scheduled execution time.
  • Cancellation of a scheduled transaction must be initiated through the Platform's transaction management section.
  • Cashmo shall not be liable for execution of a scheduled transaction if the cancellation request is received after the stipulated cut-off time.

3. Non-Cancellable Transactions

The following transactions cannot be cancelled once initiated:

  • Mobile and DTH recharge transactions that have been processed.
  • Utility bill payments that have been confirmed by the biller.
  • Domestic Money Transfer (DMT) transactions credited to the beneficiary account.
  • AePS and Micro ATM cash disbursement transactions.
  • UPI transactions that have received a successful payment confirmation.
  • Any transaction marked as "Successful" in Cashmo's system.

05 REFUND POLICY

1. Eligible Circumstances for Refund

Cashmo shall process a refund in the following circumstances:

1. Failed Transactions

  • The User's account or Wallet has been debited but the intended service has not been delivered or confirmed by the Service Provider.
  • A transaction has been marked as failed in Cashmo's system but the debit has not been reversed automatically within the standard processing timeline.

2. Duplicate / Double Debit

  • The User's account has been debited more than once for a single transaction due to a technical error on Cashmo's Platform.
  • Documentary evidence of duplicate debit must be provided by the User.

3. Technical Errors Attributable to Cashmo

  • A transaction failure caused solely by a system error, server fault, or processing error on Cashmo's Platform.
  • Incorrect transaction amount charged due to a system calculation error.

4. Service Non-Delivery

  • Recharge or bill payment processed by Cashmo but not delivered or credited by the respective Service Provider, confirmed by the Service Provider's official response.
  • Cashmo shall initiate a refund only after receiving confirmation of non-delivery from the relevant Service Provider.

5. Unauthorized Transactions

  • A transaction executed without the User's knowledge or authorization, reported promptly and substantiated upon investigation.
  • Refund eligibility in unauthorized transaction cases shall be subject to Cashmo's investigation findings and RBI guidelines on zero-liability obligations.

2. Non-Eligible Circumstances for Refund

Refunds shall not be processed in the following circumstances:

  • Successfully completed recharge, bill payment, money transfer, or any other digital service transaction.
  • Transactions where the failure resulted from the User entering incorrect beneficiary details, mobile number, account number, UPI ID, or any other erroneous information.
  • Transactions declined or rejected by the User's own bank or card issuer.
  • Change of mind after a transaction has been successfully initiated or completed.
  • Transactions impacted by the User's insufficient account balance, expired card, or blocked account.
  • Promotional cashback, bonus credits, referral rewards, or any incentive amounts credited to the Wallet.
  • Transactions suspended or blocked due to regulatory or compliance directions.
  • Transactions involving accounts suspended for KYC non-compliance, fraud, or violation of Terms and Conditions.
  • Service charges, convenience fees, and platform fees once a transaction has been initiated.
  • Transactions where the User claims non-receipt of service but the Service Provider has confirmed successful delivery.

06 AUTOMATIC REFUND — FAILED TRANSACTIONS

1. Auto-Reversal Timeline

In accordance with RBI guidelines on failed transactions, Cashmo shall process automatic reversals within the following timelines:

Transaction Type Auto-Reversal Timeline
UPI Transactions Within T+1 business day (T = date of failed transaction)
IMPS Transactions Within T+1 business day
NEFT Transactions Within T+2 business days
Debit Card / Net Banking Within T+5 business days
Wallet Debit Within 4 working hours
Mobile / DTH Recharge Within T+1 business day
Utility Bill Payments Within T+2 business days
AePS Transactions Within T+1 business day
T = Date of the failed transaction. Business days exclude Sundays and public holidays.

2. Delay in Auto-Reversal

  • If an auto-reversal does not occur within the timelines stated above, the User must raise a formal refund request as described in Section 7 of this Policy.
  • Cashmo shall compensate eligible Users for delays in auto-reversal as per RBI guidelines at ₹100 per day of delay beyond the prescribed timeline, subject to a maximum of the transaction amount.

07 REFUND REQUEST PROCEDURE

1. How to Raise a Refund Request

Users may submit a refund request through any of the following channels:

Channel Details
Platform (App / Website) Login → Help & Support → Raise a Refund Request
Email refund@cashmo.in
Customer Support Cashmo helpline (as listed on www.cashmo.in)
Written Application Arthvriksh Digital Solutions Pvt. Ltd., Biswan, Sitapur, Uttar Pradesh

2. Information Required

The following information must be provided with every refund request:

  • Registered mobile number and User ID.
  • Transaction ID / Reference Number.
  • Date, time, and amount of the transaction.
  • Nature of the service for which the transaction was initiated.
  • Clear description of the issue or reason for refund request.
  • Supporting documents such as bank statement, payment screenshot, or error message (where available).

3. Time Limit for Raising Refund Requests

Transaction Type Maximum Time to Raise Request
Mobile / DTH Recharge Within 24 hours of transaction
Utility Bill Payment Within 48 hours of transaction
UPI / Bank Transfer Within 24 hours of transaction
DMT / Money Transfer Within 24 hours of transaction
AePS / Micro ATM Within 24 hours of transaction
Duplicate / Double Debit Within 7 days of transaction
Unauthorized Transaction Within 3 days of becoming aware
Technical / System Error Within 48 hours of transaction

Refund requests submitted beyond the applicable time limit shall not be entertained unless exceptional circumstances are established to Cashmo's satisfaction.

08 REFUND PROCESSING TIMELINE

Upon acceptance of a valid refund request, Cashmo shall process the refund within the following timelines:

Refund Mode Processing Timeline
Cashmo Wallet Within 24 to 48 working hours
UPI Within 3 to 5 business days
Bank Account (IMPS/NEFT) Within 5 to 7 business days
Debit Card Within 7 to 10 business days
Credit Card Within 10 to 14 business days
  • Processing timelines are indicative and may vary depending on the User's bank, payment network, and applicable regulations.
  • Cashmo shall not be responsible for delays caused by the User's bank or card issuer beyond the stated timelines once the refund has been initiated from Cashmo's end.

09 MODE OF REFUND

  • Refunds shall ordinarily be credited to the same source account or payment instrument used for the original transaction.
  • In cases where the original payment instrument is no longer active, closed, or unavailable, the refund shall be processed to the User's registered and verified bank account or Cashmo Wallet after due verification.
  • Cashmo shall not process refunds to any third-party account under any circumstances
  • Cash refunds shall not be provided under any circumstances.
  • Cashmo reserves the right, in its sole discretion, to credit refunds to the User's Cashmo Wallet in exceptional cases, with prior intimation to the User.

10 INVESTIGATION PROCESS

  • Upon receipt of a refund request, Cashmo shall acknowledge the request within 24 working hours.
  • Cashmo shall conduct a thorough investigation involving:
    • Review of Cashmo's internal transaction logs and system records.
    • Verification with the relevant Service Provider or payment network.
    • Assessment of bank debit and credit confirmations.
    • Review of User-submitted supporting documents.
  • Cashmo shall communicate the outcome of the investigation to the User within the timelines specified in Section 11.
  • During the investigation period, Cashmo may temporarily place the disputed transaction amount on hold.
  • The User is required to cooperate fully with the investigation process and provide any additional information or documents requested by Cashmo within 5 business days of such request. Failure to cooperate may result in closure of the refund request.

11 RESOLUTION TIMELINES

Stage Timeline
Acknowledgement of refund request Within 24 working hours
Initial investigation and response Within 7 business days
Final resolution for standard cases Within 15 business days
Final resolution for complex cases Within 30 business days
Cases requiring third-party confirmation Up to 45 business days

12 ESCALATION AND APPEALS

1. Internal Escalation

  • If the User is dissatisfied with the resolution of a refund request, the User may escalate the matter to Cashmo's Grievance Officer within 15 days of receiving the initial resolution.
  • Escalation must be submitted in writing to: grievance@cashmo.in
  • The Grievance Officer shall provide a final internal resolution within 30 business days of receiving the escalation.

2. External Escalation

If the User remains unsatisfied with Cashmo's final resolution, the User may approach the following external authorities:

  • RBI Ombudsman for Digital Transactions — at https://cms.rbi.org.in (for complaints relating to UPI, PPI, and digital payment services).
  • Consumer Disputes Redressal Commission — under the Consumer Protection Act, 2019, at the appropriate district, state, or national level.
  • Cyber Crime Cell — at https://cybercrime.gov.in for complaints involving unauthorized or fraudulent transactions.

13 CHARGEBACK POLICY

  • Users holding debit or credit cards linked to the Platform may initiate a chargeback through their card-issuing bank for eligible disputed transactions.
  • Cashmo shall fully cooperate with chargeback investigations initiated by banks or card networks.
  • Cashmo reserves the right to contest chargebacks that are found to be frivolous, false, or in respect of successfully delivered services.
  • Repeated or abusive use of chargeback mechanisms shall constitute a violation of Cashmo's Terms and Conditions and may result in account suspension.
  • Any chargeback decision made by the bank or card network shall be binding on both Cashmo and the User in accordance with applicable payment network rules.

14 SPECIAL PROVISIONS FOR API PARTNERS

  • API Partners accessing Cashmo services through authorized API integrations shall be governed by the refund and cancellation terms stipulated in their respective API Partner Agreements.
  • In cases of conflict between the API Partner Agreement and this Policy, the terms of the API Partner Agreement shall prevail to the extent of such conflict.
  • API Partners are solely responsible for communicating refund and cancellation terms to their end users in accordance with applicable law.
  • Cashmo shall not be directly liable to end users of API Partners for refund claims arising from service failures attributable to the API Partner's own systems or processes.
  • Refund requests originating from API Partner transactions must be submitted by the API Partner on behalf of the end user through the designated API Partner support channel.

15 FRAUD PREVENTION AND MISUSE

  • Cashmo employs advanced fraud detection systems to monitor all refund and cancellation requests.
  • Any refund request found to be based on false, fabricated, or misleading information shall be immediately rejected.
  • Users found to be engaged in systematic abuse of the refund mechanism — including but not limited to filing repeated false claims, colluding with third parties, or manipulating transaction records — shall be subject to:
    • Immediate and permanent account suspension.
    • Forfeiture of Wallet balance pending legal proceedings.
    • Civil recovery action for amounts fraudulently refunded.
    • Criminal complaint under the Indian Penal Code, 1860 / Bharatiya Nyaya Sanhita, 2023 and the Information Technology Act, 2000.
  • Cashmo reserves the right to withhold any refund pending completion of a fraud investigation without any liability for such withholding.

16 LIMITATION OF LIABILITY IN REFUND MATTERS

  • Cashmo's liability in respect of any failed or disputed transaction shall be strictly limited to the principal transaction amount involved in the specific dispute.
  • Cashmo shall not be liable for any consequential, indirect, incidental, or punitive losses arising from a failed transaction or delay in refund, including but not limited to:
    • Loss of business opportunity.
    • Loss of income or profit.
    • Reputational damage.
    • Late payment penalties imposed by third parties.
  • Where a refund delay is caused by the User's bank, card network, or any third-party payment processor, Cashmo's liability shall be limited to confirming dispatch of the refund and providing relevant reference details for the User to follow up with their financial institution.
  • Compensation payable under RBI guidelines for delayed auto-reversals shall constitute the maximum liability of Cashmo in such cases.

17 TAXES ON REFUNDS

  • Refunds shall be processed for the transaction amount net of any applicable taxes or charges that are non-recoverable under applicable law.
  • GST and other statutory taxes already remitted to the government in relation to a completed transaction shall not form part of the refund amount.
  • Any tax implications arising from receipt of a refund shall be the sole responsibility of the User. Cashmo shall not provide tax advice in connection with refund transactions.

Any disputes arising from this Policy shall be subject to the jurisdiction of courts at Biswan, Sitapur, Uttar Pradesh, India.

18 RECORD KEEPING

  • Cashmo shall maintain records of all refund and cancellation requests, investigations, and resolutions for a minimum period of 5 years from the date of the relevant transaction.
  • Such records shall be made available to regulatory authorities upon lawful request.
  • Users may request a copy of their refund transaction history by writing to support@cashmo.in.

19 AMENDMENTS TO THIS POLICY

  • Cashmo reserves the right to amend, update, or revise this Refund and Cancellation Policy at any time to reflect changes in law, RBI guidelines, or business practices.
  • Material changes to this Policy shall be communicated to registered Users via email or SMS at least 7 days prior to the effective date of the change.
  • The updated Policy shall be published on the Platform with a revised effective date.
  • Continued use of the Platform following the effective date of any amendment shall constitute Your acceptance of the revised Policy.

20 GOVERNING LAW AND JURISDICTION

  • This Refund and Cancellation Policy is governed by and shall be construed in accordance with the laws of India, including:
    • Payment and Settlement Systems Act, 2007
    • RBI Master Direction on Prepaid Payment Instruments
    • RBI Circular on Harmonisation of Turn Around Time (TAT) for Failed Transactions
    • Consumer Protection Act, 2019
    • Information Technology Act, 2000
  • Any dispute arising from or in connection with this Policy shall be subject to the exclusive jurisdiction of the courts at Biswan, Sitapur, Uttar Pradesh, India.
  • Prior to approaching any court, the parties shall attempt resolution through Cashmo's internal grievance mechanism as described in Section 12 of this Policy.

21 CONTACT INFORMATION

For all refund and cancellation related queries, requests, or escalations, please contact:

Refund and Support Team

Arthvriksh Digital Solutions Pvt. Ltd.

Biswan, Sitapur, Uttar Pradesh, India

Email: refund@cashmo.in

Support: support@cashmo.in

Grievance: grievance@cashmo.in

Website: www.cashmo.in

ACKNOWLEDGEMENT

By using the Cashmo Platform and initiating any transaction, You confirm that:

  • You have read and fully understood this Refund and Cancellation Policy.
  • You agree to be bound by all terms and conditions contained herein.
  • You understand that successfully completed digital transactions are generally non-refundable.
  • You are aware of the timelines and procedures for raising valid refund requests.
  • You acknowledge that fraudulent or false refund claims may attract civil and criminal liability.

Document: Refund & Cancellation Policy

Company: Arthvriksh Digital Solutions Pvt. Ltd.

Platform: Cashmo

Version: 1.0

Effective Date: April 20, 2026

Jurisdiction: Biswan, Sitapur, Uttar Pradesh, India

This document is legally drafted for Cashmo (Arthvriksh Digital Solutions Pvt. Ltd.) and is protected under applicable intellectual property laws. Unauthorized reproduction is strictly prohibited.