REFUND AND TRANSACTION REVERSAL POLICY
PYPAY TECHNOLOGIES LIMITED
Last Updated: September 2, 2026
Effective Date: September 2, 2026
1. PURPOSE AND SCOPE
1.1 This Refund and Transaction Reversal Policy ("Policy") sets out the circumstances under which PyPay Technologies Limited ("PyPay," "we," "us") will refund, reverse, or otherwise remediate transactions carried out through the PyPay platform (the "Services").
1.2 This Policy applies to all users of the Services and should be read alongside our Terms and Conditions and Privacy Policy. In the event of any conflict, the Terms and Conditions shall prevail, except where a specific provision of this Policy is more favorable to you in line with applicable consumer protection law.
1.3 Nothing in this Policy limits any statutory right you may have under the CBN Consumer Protection Regulations, the Federal Competition and Consumer Protection Act, or other applicable law.
2. GENERAL PRINCIPLE
2.1 As a payment technology provider, PyPay generally facilitates the transmission of funds between parties. Because most transactions are executed at your instruction and are final once completed, refunds are not automatic and are assessed on a case-by-case basis in accordance with this Policy.
2.2 PyPay distinguishes between:
(a) Failed Transactions — where a transaction did not complete successfully but your account was debited;
(b) Erroneous Transactions — where you sent funds to the wrong recipient, entered an incorrect amount, or made a duplicate transaction due to your own error;
(c) Unauthorized Transactions — where a transaction was carried out without your consent or knowledge (e.g., fraud, account compromise);
(d) Merchant/Service Disputes — where you paid a merchant or biller through PyPay but did not receive the goods or services paid for.
3. FAILED TRANSACTIONS
3.1 Where your account is debited but the intended transaction (transfer, bill payment, airtime purchase, etc.) does not complete due to a system, network, or processing failure attributable to PyPay or its partners, PyPay will:
(a) automatically detect and reverse the failed transaction within 24 hours, where the failure is identified by our automated reconciliation systems; or
(b) investigate and resolve manually reported failed transactions within 48–72 hours of your complaint, in line with CBN guidelines on timelines for resolution of failed transactions.
3.2 If a failed transaction is not automatically reversed within the above timelines, you should report it immediately through the in-app support channel, our customer care line, or Support@pypay.ng, quoting your transaction reference number.
3.3 Where the failure is attributable to a third-party bank, switch (e.g., NIBSS), or telecommunications provider, PyPay will escalate the matter on your behalf and keep you informed of progress, though final resolution timelines may depend on the responsiveness of the relevant third party.
4. ERRONEOUS TRANSACTIONS (USER ERROR)
4.1 Where you have transferred funds to an incorrect account number, entered an incorrect amount, or made a duplicate payment due to your own error, PyPay's ability to reverse the transaction is limited, as funds may have already settled into the recipient's account.
4.2 In such cases, PyPay will, upon your written request:
(a) attempt to contact the receiving bank/institution to request voluntary return of the funds by the recipient;
(b) provide you with the transaction reference and relevant details to support your own recovery efforts, including formal petitions to the receiving bank or, where necessary, law enforcement;
(c) not guarantee recovery, as this depends on the recipient's consent or the receiving institution's cooperation, in line with standard interbank practice.
4.3 You are strongly advised to verify all recipient and transaction details before confirming any payment, as PyPay bears no liability for losses arising from user-input errors, save where PyPay's system independently caused or contributed to the error.
5. UNAUTHORIZED AND FRAUDULENT TRANSACTIONS
5.1 If you notice a transaction on your account that you did not authorize, you must report it to PyPay immediately via +234 913 147 0291, and in any event within 24 hours of noticing the discrepancy, to maximize the chances of fund recovery and to limit your liability.
5.2 Upon receiving a report of an unauthorized transaction, PyPay will:
(a) immediately suspend or place a security hold on your account to prevent further unauthorized activity;
(b) investigate the transaction, including reviewing authentication logs, device data, and transaction patterns;
(c) provide a resolution or interim update within 5 business days, consistent with CBN guidelines on the resolution of disputed electronic transactions.
5.3 Where PyPay's investigation confirms that the transaction was genuinely unauthorized and not attributable to your gross negligence (e.g., voluntary disclosure of your PIN, password, or OTP to a third party), PyPay will refund the disputed amount in full, subject to applicable regulatory timelines.
5.4 Where the investigation indicates that the transaction resulted from your negligence (e.g., sharing OTPs, PINs, or falling victim to a scam where you authorized the transaction under false pretenses), PyPay's liability may be limited, and refund will be assessed on a case-by-case basis. This does not, however, exclude any liability PyPay may bear under the CBN's liability shift framework for compromised systems.
5.5 PyPay will never ask you for your PIN, password, or full OTP. You should treat any such request as fraudulent and report it immediately.
6. MERCHANT AND BILLER DISPUTES
6.1 Where you have made a payment to a merchant or biller through PyPay (e.g., for goods, services, airtime, or utility bills) and:
(a) did not receive the goods/services paid for;
(b) received defective, incomplete, or materially different goods/services; or
(c) were charged an incorrect amount by the merchant/biller,
you should first attempt to resolve the matter directly with the merchant or biller. If unresolved within 7 days, you may escalate the dispute to PyPay via in-app support.
6.2 For airtime, data, and utility bill payments specifically, where PyPay's system confirms that the payment was received by PyPay but not successfully delivered to the biller/telco, a refund or re-attempt of the service will be processed within 24–48 hours.
6.3 For disputes involving third-party merchants integrated on PyPay's platform, PyPay will act as an intermediary to facilitate resolution but is not the merchant of record and does not guarantee refunds for merchant-side service failures, except to the extent required by applicable consumer protection law or PyPay's merchant agreements.
7. REFUND PROCESSING
7.1 Approved refunds will be credited back to the original payment source (wallet, linked bank account, or card) used for the transaction, unless otherwise agreed.
7.2 Refund processing times:
(a) Wallet refunds: typically instant to 24 hours upon approval;
(b) Bank account/card refunds: typically 3–10 business days, depending on the receiving bank or card issuer's processing timelines, which are outside PyPay's control.
7.3 PyPay does not charge a fee for processing legitimate refunds arising from PyPay or third-party system errors. Where a refund arises solely from user error under Clause 4, applicable recovery/processing fees may apply, as disclosed to you at the time.
8. NON-REFUNDABLE ITEMS
8.1 The following are generally not eligible for refund, except where required by law or where PyPay determines, at its discretion, that exceptional circumstances apply:
(a) transactions correctly executed as instructed by you, where no error, fraud, or system failure occurred;
(b) fees and charges properly incurred for services rendered (e.g., transaction fees, card issuance fees);
(c) transactions where the recipient has already withdrawn or spent the funds and cannot be compelled to return them;
(d) losses arising from your voluntary disclosure of security credentials, except where such disclosure resulted from a PyPay system compromise.
9. HOW TO REQUEST A REFUND OR REPORT A DISPUTED TRANSACTION
To report a failed, erroneous, unauthorized, or disputed transaction:
1. Log into the PyPay app and navigate to Transaction History > [Select Transaction] > Report Issue; or
2. Contact Customer Support at Support@pypay.ng / +234 913 147 0291 / in-app chat;
3. Provide your transaction reference number, date, amount, and a description of the issue.
You will receive an acknowledgment within 24 hours and a reference number to track your complaint.
10. ESCALATION AND REGULATORY RECOURSE
10.1 If you are dissatisfied with the outcome or timeline of PyPay's investigation, you may escalate your complaint to:
- PyPay's Compliance/Complaints Unit: Support@pypay.ng
- Central Bank of Nigeria (CBN) Consumer Protection Department: cpd@cbn.gov.ng
- Any other applicable regulator or ombudsman with jurisdiction over the dispute.
10.2 PyPay is committed to resolving all complaints within the timelines prescribed under the CBN Consumer Protection Regulations and will provide written confirmation of resolution or reasons for any delay.
11. AMENDMENTS
11.1 PyPay may update this Policy from time to time to reflect regulatory changes or operational improvements. Material changes will be communicated via the app, email, or SMS at least 14 days before taking effect.
12. CONTACT
For all refund and transaction dispute inquiries:
PyPay Technologies Limited
No 3 RA Adeleye, Utako
Support@pypay.ng
+234 913 147 0291
in-app support