is the compensation paid to a customer for over-invoicing or for returned goods which is to be mentioned on the website if allowed and the conditions under which refunds will be given to the customers.

For eg:

• The wrong product was sent by the merchant.
• The product is defective.
• The product was damaged in shipping.
• The item was not delivered on the agreed time

Required Statements to be added on this section are as follows:

Refunds will be done only through the Original Mode of Payment.

If No refund policy/cancellation policy, this must be very clearly communicated to Cardholders before the purchase decision is made, to prevent misunderstanding and disputes. Kindly add the following statement:

In the event that transaction error has occurred while making the payment , a refund in most cases will be issued to the same credit card you used for the original purchase.