Refund Policy

1. Introduction and Scope

This Refund Policy explains how money is returned on the Fyatu platform operated by Fyatu Financial Technologies Limited (“Fyatu,” “we,” “us,” or “our”). It applies to business Clients (“you,” “your,” the “Client,” or “partner”) who operate a card programme, and to the Cardholders (end users) to whom you issue Cards.

It covers every situation in which funds may be returned — card purchase refunds, reversals, failed funding, chargebacks, fees, card expiry, card termination, and the final settlement when a programme ends. It should be read together with the Terms of Service, the Card Program Agreement, and your Pricing & Commercial Terms. Where a specific commercial agreement differs from this Policy, that agreement prevails.

2. Key Principles

A few principles apply to all refunds on the platform:

• Refunds return to source, not to cash. Money is returned along the path it came in — a card refund lands back on the Card, and card balances flow back to your Programme Balance. Fyatu does not pay refunds out to third-party accounts, and Cards do not support ATM cash withdrawals.
• Refunds are net of fees and obligations. Amounts returned to a Client are settled net of outstanding fees, pending disputes, and any amounts owed to Fyatu or a BIN Sponsor.
• Cardholders are supported by you. First-line Cardholder support is the Client’s responsibility. Cardholders must direct refund requests to the Client who issued their Card, not to Fyatu.
• Completed services are not refundable. Fees for services already delivered (issuance, verification, processing) are not refunded. See Section 10.

3. Definitions

• Programme Balance — the prefunded balance held against your programme, from which card spend and fees are settled.
• Card balance — funds loaded onto an individual Card.
• Refund — a return of funds for a completed purchase, initiated by a merchant.
• Reversal — the release of a card authorisation that never fully settled.
• Chargeback / dispute — a formal challenge to a settled transaction raised through the card network.

4. Merchant Refunds (Card Purchases)

When a merchant refunds a purchase made on a Card issued under your programme:

• The refund is credited to the originating Card balance;
• If that Card has been terminated or has expired, the refund is credited to your Programme Balance;
• Processing time depends on the merchant and typically takes 5 to 15 business days from when the merchant issues the refund;
• No refund or reversal fee is charged by Fyatu on merchant refunds.

Fyatu cannot force or accelerate a merchant refund — the merchant controls whether and when a refund is issued. For cross-border purchases, the refunded amount may differ slightly from the original charge due to exchange-rate movement between the purchase and the refund (see Section 12).

5. Authorisation Reversals and Declined Transactions

• Declined transactions never move funds — no charge is made and nothing needs to be refunded.
• Authorisation holds that do not settle (for example, a hotel or fuel pre-authorisation) are released back to the available Card balance automatically once the hold expires, typically within a few business days depending on the merchant and network.
• The decline fee (where applicable) reflects the processing of a declined authorisation and is not refundable.

6. Failed or Incomplete Card Funding

If a card-funding (load) instruction fails, is not completed, or is reversed by a provider, the amount is returned to your Programme Balance. The platform automatically detects and refunds stale or failed card loads so funds are never left in limbo. No fee is charged for a failed funding attempt.

7. Chargebacks and Disputes

You are responsible for managing chargeback disputes on behalf of your Cardholders. Cardholders may not raise disputes with Fyatu directly.

• Submit disputes via your dedicated Slack channel or at [email protected] with supporting documentation;
• A $30.00 chargeback fee applies per case, regardless of outcome, deducted from the Programme Balance at the time of filing;
• Disputes follow the standard resolution timelines of the applicable card network (Visa or Mastercard), which can take several weeks to a few months;
• The outcome is determined by the card network and is final. If the dispute is won, the disputed amount is credited back to the Card or Programme Balance; if lost, the Client bears the loss;
• The Client bears full financial responsibility for chargeback losses and any associated network fines.

8. Programme Balance Funding

Your Programme Balance is funded by stablecoins — USDT (TRC20) and USDC (Polygon) — and any other rails agreed for your programme.

• Confirmed on-chain deposits are irreversible. Once a stablecoin deposit is confirmed on the blockchain and credited, it cannot be “refunded” to the sending wallet. Credited funds remain available in your Programme Balance (which can be held indefinitely) and are returned only via the wind-down process in Section 11.
• Failed or unconfirmed deposits are not credited and require no refund.
• Wrong-network or wrong-asset transfers (for example, sending on an unsupported chain) may be unrecoverable. Always fund using the exact network and asset shown in your dashboard.
• If you no longer wish to keep a credited balance, it is returned to your designated account through programme wind-down, not by reversing the deposit.

9. Card Expiry, Freeze, and Termination

• Expiry — Cards are not auto-renewed. When a Card expires, any remaining Card balance is returned to your Programme Balance automatically.
• Freeze — Freezing a Card temporarily declines new transactions but does not move funds; the balance stays on the Card until unfrozen or terminated.
• Termination — Terminating a Card is permanent. The remaining Card balance is returned to your Programme Balance. Authorisations already submitted to the network before termination may still settle.

10. Fees — What Is and Isn’t Refundable

Fees reflect services that have already been delivered and are generally non-refundable. The table below summarises how each fee is treated:

Where Fyatu charges a fee in error or a duplicate charge occurs due to a platform fault, it is corrected and refunded in full to your Programme Balance (see Section 13).

11. Programme Wind-down — The Final Settlement

When a programme is closed — whether you terminate, Fyatu terminates, or the relationship otherwise ends — the following final operations run:

1. All active Cards are terminated.
2. Card balances are returned to the Programme Balance.
3. The Programme Balance is refunded to your designated account, net of outstanding fees and pending disputes, within two (2) calendar days.
4. Your data is exported in standard formats (CSV, JSON) on request.

Where funds are held by a BIN Sponsor or banking partner, release may take up to 14 calendar days. Setup fees and already-paid Monthly Platform Fees are non-refundable and are not returned as part of wind-down. Pending chargebacks may be held back from the final settlement until the network resolves them.

12. Currency and Exchange Rates

Programme Balances are USD-denominated and Cards are denominated in USD or EUR. For cross-border or multi-currency transactions, refunds are converted at the exchange rate in effect at the time the refund is processed, which may differ from the rate at the time of the original transaction. Fyatu does not compensate for exchange-rate differences between a charge and its later refund.

13. Errors, Duplicate Charges, and Platform Faults

If funds are deducted incorrectly because of a Fyatu platform error — a duplicate fee, a mischarge, or a failed operation that still debited your balance — we correct it and credit the affected amount back to your Programme Balance once verified. Report suspected errors promptly via your Slack channel or [email protected] so we can investigate.

14. Fraud, Sanctions, and Compliance Holds

Refunds and balance releases may be delayed, withheld, or redirected where required for security, fraud investigation, or legal and regulatory compliance, or at the direction of a BIN Sponsor, card network, or competent authority. Funds connected to sanctioned parties, fraud, or prohibited activity may be frozen and are handled in accordance with the Terms of Service and AML Policy rather than refunded.

15. Refund Timelines at a Glance

16. How to Request a Refund or Raise an Issue

All refund requests, disputes, and balance questions go through your two support channels:

• Dedicated Slack channel — day-to-day support and dispute filing;
• Email — [email protected] for operational and refund matters.

Please include the Card or transaction reference, the amount, the date, and a short description. Cardholders should always contact the Client (their card programme operator), who will raise the matter with Fyatu where necessary.

17. Changes to This Policy

Fyatu may update this Refund Policy from time to time. Material changes will be communicated via your dedicated Slack channel and by email at least 30 days before taking effect. Continued use of the platform after the effective date constitutes acceptance of the updated Policy.

18. Contact

• Refunds & support: [email protected]
• Business inquiries: [email protected]
• Legal: [email protected]