1. Purpose

The purpose of this Grievance Redressal Policy (“Policy”) is to define a structured and transparent mechanism for receiving, handling, resolving, and monitoring customer and merchant grievances arising out of the Payment Aggregator (PA) business of the Mpurse. This Policy aims to ensure prompt, fair, and effective resolution of complaints in compliance with applicable laws, regulations, and guidelines issued by the Reserve Bank of India (RBI) and other competent authorities.

2. Scope & Applicability

This Customer Grievance Redressal Policy is applicable to the Payment Aggregator (PA) operations of the Company and is formulated in accordance with the guidelines, directions, and circulars issued by the Reserve Bank of India (RBI) from time to time. The policy covers all customers, including merchants and end-users, availing payment aggregation services of the Company, and applies to all payment transactions processed through the Mpurse’s PA platform across all payment instruments and channels. It encompasses grievances relating to failed or disputed transactions, incorrect or delayed debits/credits, settlement and reconciliation issues, unauthorized or fraudulent transactions attributable to PA services, and deficiencies in service. The policy is binding on all employees, officers, and relevant service providers of the Company and shall be effective from the date of Board approval, subject to periodic review to ensure continued compliance with RBI requirements.

3.Governance and Board Oversight

• The Board of Directors of the Mpurse shall have overall responsibility for ensuring an effective, transparent, and customer-centric grievance redressal framework in accordance with the directions, guidelines, and circulars issued by the Reserve Bank of India (RBI) from time to time.
• The Customer Grievance Redressal Policy and any subsequent amendments thereto shall be approved by the Board of Directors. The policy shall be reviewed at least annually or earlier, if required, due to regulatory changes or operational requirements.
• Senior Management shall be responsible for the effective implementation of the grievance redressal mechanism approved by the Board, including adequate staffing, infrastructure, system controls, and escalation processes to ensure timely resolution of customer complaints.
• The Mpurse shall appoint a senior official as the Nodal Officer / Grievance Redressal Officer, responsible for overseeing customer grievance handling, ensuring compliance with RBI timelines, and acting as the point of escalation for unresolved complaints.
• The Board or a Board-level Committee shall periodically review:
• Number and nature of customer grievances received
• Timeliness and quality of grievance resolution
• Root cause analysis and corrective actions taken
• Complaints escalated to RBI, Ombudsman, or other authorities
• The Board shall ensure that the Company complies with all RBI requirements related to customer grievance redressal, including reporting, disclosures, and submission of data on regulatory portals such as CMS / RBI Ombudsman systems, as applicable.
• The Board shall ensure that customers are adequately informed about their right to approach the RBI Integrated Ombudsman Scheme in case their grievances are not resolved within the stipulated timelines or to their satisfaction.
• The Board and Senior Management shall promote a culture of fair customer treatment, accountability, and transparency across the organization, ensuring that grievance handling is not treated merely as a compliance requirement but as a key component of customer trust and service quality.

4. Regulatory Framework

This Policy is framed in line with,  – RBI Guidelines on Regulation of Payment Aggregators and Payment Gateways; – RBI Master Directions / Circulars issued from time to time relating to customer protection and grievance redressal; – Applicable provisions of the Payment and Settlement Systems Act, 2007; – Any other applicable laws, rules, and regulations.

5. Definitions

• Grievance / Complaint: Any communication expressing dissatisfaction or concern regarding PA services, transaction processing, settlement, chargebacks, refunds, customer support, or any related matter.
• Customer: Any individual or entity availing PA services of the Mpurse.
• Merchant: Any entity onboarded by the Mpurse to accept payments through PA services.
• TAT (Turnaround Time): The defined timeline for acknowledgment and resolution of grievances.

6. Grievance Redressal Mechanism

Grievances may be lodged through any of the following channels

• Please reach out to MPurse’s customer care center on the number listed below, available from 09:00 AM to 06:00 PM.

18005724160/ 9773973388 – for PA, PG merchants

• For any queries or concerns, please send an email to care.pa-pg@mpurse.co.in
• By visiting MPurse‘s website https://mpurse.co.in/ and selecting ’Contact Us

Details such as transaction reference number, date of transaction, nature of complaint, and contact details should be provided to facilitate faster resolution.

APPLICATION TO MPURSE BY COMPLAINANT FOR REDRESSAL OF GRIEVANCE

(All fields are mandatory)

Date To,

Customer Grievance Redressal Officers

MPurse Services Private Limited

AltF JMD Empire Square 2nd Floor,

Sikanderpur Ghosi, Sector – 28,

Gurugram – 122002 Haryana

1. Name
2. Full Address
3. Mobile Number
4. Details of the Grievance

(If Space is not sufficient, please enclose separate sheet)

5. Date Of Original Intimation of Grievance by the Complainant to Customer Care
6. Remedy Provided by Customer Care, If Any

(If remedy has been provided, please enclose relevant communication from the Customer Care Centre)

7. List Of Documents Enclosed

(Please enclose copies of any relevant documents which support the facts giving rise to the Grievance)

8. Declaration
9. I, the Customer herein declare that:
10. the information furnished hereinabove is true and correct; and
11. I have not concealed or misrepresented any fact stated hereinabove and the documents submitted herewith.
12. The subject matter of the present Grievance has never been submitted to MPurse by me or by any of the parties concerned with the subject matter to the best of my knowledge.

• The subject matter of my Grievance has not been settled by MPurse / Customer Support in any previous proceedings.

1. The subject matter of my Grievance has not been decided by any competent authority / court / arbitrator and is not pending before any such authority / court / arbitrator.

Yours faithfully

(Signature) (Customer’s name)

Terms of Use (Without prejudice)

7. Acknowledgement of Complaints

• An acknowledgment shall include a unique ticket / reference number for future correspondence.
• Suitable timelines have been set for every complaint depending upon the investigations which would be involved in resolving the same. The estimated timelines at various levels of queries/escalations are:
• First response to a Complainant’s query / concern 24 hrs
• Follow-up queries 48 hrs
• Customer grievances 7 days
• NEFT to Complainant’s bank account 7 days

8. Resolution Process and TAT

• The Mpurse shall examine the grievance, seek additional information if required, and initiate corrective actions.
• Grievances shall be resolved within 7–15 working days, depending on the nature and complexity of the complaint.
• In cases involving third parties (banks, networks, or merchants), resolution timelines may be extended, with periodic updates provided to the complainant.

Indicative grievance categories include: – Failed or declined transactions – Settlement delays – Unauthorized or disputed transactions – Refund and chargeback issues – Service deficiencies

Harmonization of Turnaround Time (TAT) and Customer Compensation
for Failed Transactions Using Authorized Payment Systems

The Reserve Bank of India (RBI), through its notification DPSS.CO.PD No.629/02.01.014/2019-20 dated September 20, 2019, has established comprehensive guidelines for Turnaround Times (TAT) and customer compensation in cases of failed transactions using authorized payment systems. These guidelines aim to ensure that the consumers’ interests are safeguarded, and that failed or delayed transactions are resolved promptly. Here’s an attractive, easy-to-understand summary of these key rules:

• The prescribed TAT is the outer limit for resolution of failed transactions; and
• The banks and other operators / system participants shall endeavour towards quicker resolution of such failed transactions.

RBI/2019-20/67

DPSS.CO.PD No.629/02.01.014/2019-20                                             September 20, 2019

All Operators and Participants of Authorized Payment Systems

Madam/Dear Sir,

Harmonization of Turn Around Time (TAT) and customer compensation for failed transactions using authorized Payment Systems

Please refer to the Statement on Developmental and Regulatory policies issued as part of Monetary Policy statement dated April 4, 2019 wherein it was proposed that the Reserve Bank would put in place a framework on Turn Around Time (TAT) for resolution of customer complaints and compensation framework across all authorized payment systems.

2. It has been observed that a large number of customer complaints emanate on account of unsuccessful or ‘failed’ transactions. Failure could be on account of various factors not directly attributable to the customer such as disruption of communication links, non-availability of cash in ATMs, time-out of sessions, non- credit to beneficiary’s account due to various causes, etc. Rectification / Compensation paid to the customer for these ‘failed’ transactions is not uniform.
3. After consultation with various stakeholders, the framework for TAT for failed transactions and compensation therefor has been finalized which will result in customer confidence and bring in uniformity in processing of the failed transactions. The same is enclosed as Annex to this circular.
4. It may be noted that:
   • the prescribed TAT is the outer limit for resolution of failed transactions; and
   • the banks and other operators / system participants shall endeavour towards quicker resolution of such failed transactions.
5. Wherever financial compensation is involved, the same shall be affected to the customer’s account Suo moto, without waiting for a complaint or claim from the customer.
6. Customers who do not get the benefit of redress of the failure as defined in the TAT, can register a complaint with the Reserve Bank – Integrated Ombudsman Scheme, 2021 (as amended from time to time).
7. This directive is issued under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007) and shall come into effect from October 15, 2019.

Yours faithfully

(P. Vasudevan)

Chief General Manager Encl.: As above

(Annex to Circular DPSS.CO.PD No.629/02.01.014/2019-20 dated September 20, 2019)

Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorized Payment Systems

General Instructions covering the TAT:

1. The principle behind the TAT is based on the following:
   1. If the transaction is a ‘credit-push’ funds transfer and the beneficiary account is not credited while the debit to originator has been affected, then credit is to be affected within the prescribed time period failing which the penalty has to be paid to the beneficiary.
   2. If there is delay in initiation of a transaction at the originator bank’s end beyond the TAT, then penalty has to be paid to the originator.
2. A ‘failed transaction’ is a transaction which has not been fully completed due to any reason not attributable to the customer such as failure in communication links, non-availability of cash in an ATM, time-out of sessions, etc. Failed transactions shall also include the credits which could not be affected to the beneficiary account on account of lack of full information or lack of proper information and delay in initiating a reversal transaction.
3. Terms like, Acquirer, Beneficiary, Issuer, Remitter, etc., have meanings as per common banking parlance.
4. This the day of transaction and refers to the calendar date.
5. R is the day on which the reversal is concluded, and the funds are received by the issuer / originator. Reversal should be affected at the issuer / originator on the same day when the funds are received from the beneficiary end.
6. The term bank includes non-banks also and applies to them wherever they are authorized to operate.
7. Domestic transactions i.e., those where both the originator and beneficiary are within India are covered under this framework

Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorized Payment System.

9. Escalation Matrix

If the complainant is not satisfied with the resolution or does not receive a response within the stipulated TAT, the grievance may be escalated as follows:

Level 1:     Write to us at care.pa-pg@mpurse.co.in

Call us on   18005724160/ 9773973388

Level 2:      Grievance Officer

AltF JMD Empire Square 2nd Floor,

Sikanderpur Ghosi, Sector – 28,

Gurugram – 122002 Haryana

grievanceofficer@mpurse.co.in

grievanceofficer@mpurseservices.com

Level 3:     Nodal Officer

Garima Jain

AltF JMD Empire Square 2nd Floor,

Sikanderpur Ghosi, Sector – 28,

Gurugram – 122002 Haryana

nodalofficer@mpurse.co.in

10. RBI Ombudsman / Regulatory Escalation

In case the grievance is not resolved to the satisfaction of the complainant within the stipulated timelines, or where applicable, the complainant may approach the RBI Ombudsman or any other authority as prescribed under the prevailing regulatory framework.

Introduction to the RBI Integrated Ombudsman Scheme (RIOS), 2021

The Reserve Bank – Integrated Ombudsman Scheme, 2021, notified under Section 35A of the Banking Regulation Act, 1949, provides a unified and simplified mechanism for resolving customer complaints against entities regulated by the RBI, including:

• Banks
• Non-Banking Financial Companies (NBFCs)
• Payment System Participants (including Payment Aggregators and Gateways)

It follows the principle of “One Nation One Ombudsman” and integrates the following schemes:

• Banking Ombudsman Scheme, 2006
• Ombudsman Scheme for NBFCs, 2018
• Ombudsman Scheme for Digital Transactions, 2019

1. Scope and Applicability

Customers can approach the RBI Ombudsman in case of unsatisfactory resolution or no response from the Regulated Entity (RE), such as a bank or payment aggregator, within the prescribed time frame (usually 30 days from the date of complaint submission).

Applicable for grievances related to:

• Failed or delayed digital transactions
• Non-adherence to RBI guidelines
• Refusal to provide a service
• Excessive charges without prior notice
• Delays in payment settlements or refunds
• Unauthorized electronic transactions
• Deficiency in customer service or grievance redressal

2. Customer Redressal Process (Recourse Flow)

Step 1: File a Complaint with the Regulated Entity (RE)

• The customer must first lodge a complaint with the customer support or grievance cell of the concerned bank, NBFC, or Payment Aggregator.
• A complaint reference number should be generated and shared with the customer.
• Timeline for Response: The RE must resolve the complaint within 30 days.

Step 2: Escalation to RBI Ombudsman (if not resolved or unsatisfactory response)

If the complaint is not resolved within 30 days, or if the customer is not satisfied with the response, they may approach the RBI Ombudsman via the Centralised Receipt and Processing Centre (CRPC) through:

Online:

• RBI’s Complaints Management System (CMS):
  https://cms.rbi.org.in

Offline:

• Customers may write to:
  Centralised Receipt and Processing Centre
  Reserve Bank of India, 4th Floor, Sector 17, Chandigarh – 160017
  Email: crpc@rbi.org.in

3. Key Features of the Ombudsman Scheme

4. Grounds for Rejection

The Ombudsman may reject a complaint under the following circumstances:

• If the complaint is frivolous or malicious
• If there is no financial loss or deficiency of service
• If the matter is already pending before a court or tribunal
• If the complaint is not filed within the stipulated time
• If the customer has not approached the RE first

5. Responsibilities of Regulated Entities (REs)

To comply with RBI’s Ombudsman Scheme, all regulated entities must:

• Display the name and contact details of the internal grievance redressal officer.
• Provide customers with acknowledgement and reference numbers for all complaints.
• Resolve complaints within 30 days of receipt.
• Share information about the Ombudsman Scheme clearly on their website and at branches/offices.

6. Disclosure in Policy Documents

Regulated Entities must include the following in their Customer Grievance Redressal Policy:

“If the customer is not satisfied with the resolution provided by the Grievance Redressal Officer, or if the complaint is not resolved within 30 days of lodging, the customer has the right to approach the RBI Ombudsman under the Integrated Ombudsman Scheme, 2021. Complaints can be filed online at https://cms.rbi.org.in or sent in writing to the Centralized Receipt and Processing Centre, RBI.”

11. Monitoring, Reporting, and Review

• The Mpurse shall maintain a centralized grievance register capturing details of complaints, status, TAT, and resolution.
• Periodic reports on grievances shall be reviewed by senior management and/or the Board or a designated committee.
• Root cause analysis shall be conducted for recurring or material grievances, and corrective actions shall be implemented.

12. Confidentiality and Data Protection

All information pertaining to grievances shall be handled in accordance with the Mpurse’s data protection, privacy, and information security policies and applicable laws

AltF JMD Empire Square 2nd Floor,

Sikanderpur Ghosi, Sector – 28,

Gurugram – 122002 Haryana