Refund & Cancellation Policy

1. Overview

This Refund & Cancellation Policy applies to transactions processed through PENEU LIMITED ("Peneu") on behalf of merchants using our payment orchestration platform. Peneu routes refund instructions to the payment provider, bank or payment gateway that processed the original transaction; the merchant remains responsible for their own refund and cancellation terms with their end customers.

2. Merchant Refund Responsibility

Each merchant using the Services is responsible for defining, publishing, and honoring their own refund and cancellation policy toward their end customers. Peneu does not set or override a merchant's customer-facing refund terms.

3. How Refunds Are Processed

• A refund is initiated by the merchant through the Peneu dashboard or Refund API.
• Peneu routes the refund instruction to the banking or payment gateway partner that originally processed the transaction.
• The refund is credited to the original payment method used by the end customer, in line with RBI guidelines that require refunds to be routed back to the original payment source.
• Refund timelines depend on the payment method and the processing bank, typically ranging from instant (for UPI) to 5–7 business days (for cards and net banking), though this can vary by partner.

4. Failed and Pending Transactions

If a payment is deducted from a customer's account but the transaction is reported as failed or pending on the merchant's end, any auto-reversal is handled by the processing bank or payment gateway in line with RBI's timelines for failed transaction reversals. Peneu's dashboard reflects the reconciliation status reported by the relevant partner.

5. Peneu Service Fees

Fees charged by Peneu for facilitating a transaction are governed by the commercial agreement between Peneu and the merchant, and are handled separately from any refund issued to the merchant's end customer.

6. Disputes and Chargebacks

Disputes and chargebacks raised by an end customer's issuing bank are routed to the merchant through Peneu's dashboard for response within the timelines specified by the relevant card network or payment partner. Merchants are responsible for responding to disputes with supporting evidence within the required window.

7. Cancellation of Peneu Services

A merchant may request cancellation of their Peneu account in accordance with the notice period and terms set out in their commercial agreement with Peneu. Cancellation does not affect the processing of refunds for transactions completed prior to the cancellation date.

8. Contact Us

For questions about a specific refund or this policy, contact us through the contact form at https://peneu.com/contact, or escalate through our Grievance Redressal process if unresolved.