Customer Grievance Redressal Policy

Introduction

IndiConnect Fintech Private Limited, a company incorporated under the Companies Act 2013, having its registered office at Office No. 412, Tower - 2, World Trade Center (WTC), Opp. EON IT Park, Kharadi, Pune – 411014, (hereinafter referred to as "IndiConnect") provides digital payment, banking, and verification solutions that help businesses collect, disburse, and manage funds.

IndiConnect enables a range of business entities, including SMEs and Co-operatives ("Merchants"), to handle payments from their end-users through its robust, scalable platform for domestic and international transactions. IndiConnect delivers multiple tools to its Merchants, enabling secure, transparent, affordable, and efficient payment collections via UPI, cards, net banking, and more. As a customer-focused fintech provider, the satisfaction of Merchants and end-users is central to IndiConnect's operations, fostering long-term trust and promoting secure digital transactions.

To uphold this commitment, IndiConnect has established this Policy, approved by its Board of Directors, to outline processes (a) ensuring fair treatment of Merchants and end-users without bias, and (b) providing avenues for Merchants and end-users to raise or escalate concerns within or beyond IndiConnect if dissatisfied with its products or services.

Objective & Scope

• Define IndiConnect's responsibilities as a Regulated Entity.
• Comply with RBI policies and all relevant applicable regulations.
• Document protocols and principles for grievance redressal and dispute resolution, establishing systems, procedures, and review mechanisms for handling Merchant and end-user complaints to ensure timely resolution.
• Outline channels for end-users to report suspected or actual fraud, deception, or unethical practices by any of IndiConnect's Merchants.
• Establish mechanisms for prompt compensation to end-users as mandated by applicable laws.

This Policy applies to all regulated products and services offered by IndiConnect, including payment gateways, banking services, and BizStack verification tools.

Governance & Oversight

The Board oversees the implementation of IndiConnect's Grievance Redressal framework, approving the Policy and any subsequent changes to maintain adherence to laws, regulations, and RBI directives. The Board appoints a Nodal Officer to ensure compliance with Policy requirements.

The Nodal Officer monitors complaint trends quarterly, reviews corrective and preventive actions to minimize grievances, and incorporates customer-focused initiatives to improve service quality. With inputs from Business Unit heads on service enhancements, the Nodal Officer presents key findings and recommendations to senior management, including heads of functions contributing to the majority of grievances in the review period.

Record Keeping

Records of customer complaints must be retained for at least five years after the business relationship ends. Regular backups of complaint data systems ensure data availability at all times.

Definitions

• "Customer(s)" refers to an end-user purchasing goods/services from Merchants via payment instruments or an individual/entity using IndiConnect's banking or BizStack products.
• "Merchant(s)" means a user of IndiConnect's services for accepting payments from Customers to fulfill obligations.
• "Complaint(s)" covers service deficiencies or errors by IndiConnect in any product/process leading to disputes/grievances by Merchants or Customers. Examples include:
  • Customers facing undue delays or Merchant failures in delivering goods/services after payments processed via IndiConnect, with no Merchant support.
  • Customers detecting unauthorized funds in their accounts used for IndiConnect transactions, pursued through legal channels.
  • Delays in refunds beyond timelines communicated by the Merchant post-confirmation.
  • Non-compliance with RBI instructions, circulars, or applicable laws by IndiConnect or Merchants.
  • Merchants not receiving promised services, such as payment gateway downtime.
  • Any other transaction-related issues processed via IndiConnect.

Grievance Redressal and Escalation Matrix

Grievance Redressal Framework

Merchants/Customers with queries, feedback, or complaints related to transactions processed or attempted via IndiConnect's platform, or concerning its products/services, can contact IndiConnect through these channels:

Visit the IndiConnect website for FAQ-based information on specific issues.

Upon receipt, a ticket is generated with a unique reference number emailed to the Merchant/Customer. The IndiConnect Support team responds within 10 business days.

If unsatisfied with the resolution, Merchants/Customers can escalate via the mechanisms below. Customers may also contact Issuing Banks for non-delivery issues or Law Enforcement Agencies for unauthorized transactions, as detailed later.

Escalation Matrix & Turn Around Time for Disposal of Complaints

Level 1

To escalate complaints/grievances, email to: grievance@indiconnect.in

IndiConnect responds within 5 business days. Track status via email or Merchant dashboard throughout the grievance lifecycle.

Request updates if timelines extend; Merchants/Customers receive status notifications.

If unsatisfied, proceed to Level 2.

Level 2

Escalate unresolved complaints/grievances to IndiConnect's Grievance Officer:

ADDRESS: IndiConnect Fintech Private Limited, Office No. 412, Tower - 2, World Trade Center (WTC), Opp. EON IT Park, Kharadi, Pune – 411014.

E-MAIL: grievance@indiconnect.in

The Grievance Officer responds within 5 business days. Updates provided if extended; status notifications continue.

Level 3

If unsatisfied with the resolution or no reply within 30 days, file with RBI's Integrated Ombudsman:

Toll-Free: 14448

Email: crpc@rbi.org.in

Address: Centralised Receipt and Processing Centre, Reserve Bank of India, 4th Floor, Sector 17, Chandigarh, PIN – 160017.

For details, refer to RBI Ombudsman Scheme.

Regulatory Reporting

IndiConnect notifies RBI of the Nodal Officer details and displays them prominently on its website. It ensures timely submission of ad hoc/periodic reports on customer grievance redressal as required by RBI.

Dispute Management/Chargebacks Mechanism

A dispute ("chargeback") occurs when a Customer claims with their Issuing Bank against a transaction on their account. Card networks and entities like NPCI allow chargebacks for reasons such as:

• Fraudulent transactions;
• Non-delivery of products/services;
• Defective products/services;
• Duplicate payments/double debits, etc.

Timelines for raising disputes vary by network.

Chargeback Process

The process involves the cardholder, issuer, acquirer, processor, and Merchant, each with defined roles:

Broadly, if a Customer disputes a transaction via their Issuing Bank:

1. The acquiring partner notifies IndiConnect to validate the transaction; a dispute record gets created in the system.
2. IndiConnect notifies the Merchant with details to submit supporting documents.
3. Upon Merchant upload, IndiConnect forwards documents to banks for review.
4. The banking partner evaluates evidence to confirm if services were delivered as promised.

Chargeback Resolution

Outcomes include:

Refunds

Customers may request refunds from Merchants for non-delivery or service issues. Merchants initiate refunds via IndiConnect, routed to the original payment method unless agreed otherwise. Credits/refunds route through IndiConnect's escrow.

Refund requests accepted within 120 days of transaction, subject to acquiring partner support.

Post-initiation, refunds reflect in 5-7 working days, varying by stakeholders.

Failed Transactions and Reversals

Per RBI's TAT harmonization and compensation guidelines, a "failed transaction" includes incomplete ones due to non-customer factors (e.g., link failures, session timeouts). Includes delayed credits from incomplete info. Covers domestic transactions.

IndiConnect ensures reversals within prescribed TAT per payment mode or compensates Customers for delays.

Fraud Alerts from the LEA

If IndiConnect receives LEA alerts via NCRP, email from Income Tax/MHA, etc., on unauthorized transactions, it halts Merchant-end activities to recover funds or provide good-faith delivery proofs.

IndiConnect follows LEA instructions. A dedicated team handles requests, with Nodal Officer:

Nodal Officer (LEA Support)

ADDRESS: IndiConnect Fintech Private Limited, Office No. 412, Tower - 2, World Trade Center (WTC), Opp. EON IT Park, Kharadi, Pune – 411014

E-MAIL: cybercell@indiconnect.in

Details updated on IndiConnect's website.

Review

This Policy undergoes Board review as needed; annually assesses grievance mechanism functioning.

Obligation of Secrecy

IndiConnect maintains secrecy on Merchant/Customer information from contractual relationships.

For government/agency data requests, IndiConnect verifies non-violation of banking secrecy laws. Exceptions:

• Compulsion of law;
• Public duty to disclose;
• Bank interest requires disclosure;
• Express/implied Customer consent.

No divulgence for cross-selling or other purposes without express permission.

Applicable Regulations/Guidelines

This Policy complies with applicable laws, including RBI rules, regulations, guidelines, directives, superseding prior versions:

• RBI Guidelines on Regulation of Payment Aggregators and Payment Gateways (as amended);
• RBI Notification on TAT Harmonisation and Compensation for Failed Transactions;
• RBI Integrated Ombudsman Scheme, 2021;
• Regulation of Payment Aggregator – Cross Border (as amended).

Changes/amendments incorporate by reference; Policy deemed amended accordingly.

Merchant Fraud Grievance & Reporting Policy

Purpose

This policy enables customers and stakeholders to report suspected merchant fraud or unethical practices in a safe, transparent, and confidential manner.

What Can Be Reported?

• Overcharging / hidden fees
  
• Fake or duplicate billing
  
• Sale of counterfeit / prohibited goods
  
• Misuse of customer data
  
• Non-compliance with refund/return commitments
  

Reporting Channels

• Online Fraud Reporting Form (with option to remain anonymous)
  
• Dedicated Helpline: +91-92010-10130
  
• Email: support@indiconnect.in
  

Process

1. Submit grievance with supporting evidence (receipts, screenshots, communication).
   
2. Acknowledgment issued within 48 hours.
   
3. Investigation conducted by compliance team.
   
4. Resolution / Action communicated within 30 days.
   

Confidentiality & Protection

• Reporter's identity remains confidential.
  
• Protection against retaliation under Whistleblower framework.
  

Commitment

IndiConnect is committed to ensuring a fair, transparent, and secure business environment. Every grievance is treated seriously, with corrective measures taken against verified fraud.

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