UPI Transaction Refunds

SkyPay processes UPI transactions through the Unified Payments Interface (UPI) framework regulated by NPCI. If a transaction fails or is disputed, we ensure your money is returned promptly in accordance with RBI and NPCI guidelines.

When money is debited from your account but not credited to the recipient, the transaction is automatically flagged for reversal.

• Auto-reversal initiated within 24 hours of the failed transaction
• Funds credited back to your bank account within T+1 to T+5 working days
• No action required from you for auto-reversals
• SMS and in-app notification sent once the reversal is processed

Transactions may fail at various stages. Here's what happens in each scenario:

If you notice a transaction you did not authorise, report it immediately for the best chance of recovery.

• Report within 3 days: Full refund within 10 working days (RBI guidelines)
• Report within 4–7 days: Refund after investigation, max liability ₹10,000
• Report after 7 days: Liability as per your bank's policy
• Zero-liability protection for transactions proven to be unauthorised

If you accidentally approve a UPI collect request or fall victim to a fraudulent collect request:

• Report immediately via Transaction History → Report Fraud
• Investigation initiated within 24 hours
• If fraud is confirmed, refund processed within 10 working days
• Block suspicious UPI IDs from sending future collect requests

Follow these steps to raise a refund request for a UPI transaction:

• Open SkyPay → Transaction History → Select the transaction
• Tap 'Raise Dispute' or 'Report an Issue'
• Select the issue type (failed, unauthorised, wrong amount, etc.)
• Provide your UPI transaction reference number (UTR)
• Submit — you will receive a complaint ID for tracking