This Refund Policy outlines the procedure for refund requests as agreed between the Merchant and OSSL. It includes detailed steps for refunds, settlement fees, and other related conditions.

Refund Policy:

The Merchant may issue refund requests to OSSL in relation to a transaction (“Refund Transaction”) through a mode as agreed between the Parties from time to time and OSSL shall honor all such refund requests. The Merchant may request a refund via API or through the designated mail of OSSL for refund. In case of refund requests by email, the refund shall be made within 03-05 business days of the request to the Customer depending on fund availability in [Company]’s Bank Account or Digital Account. If there is a Refund Transaction, any Settlement Fee charged by OSSL shall be reversed to [Company] in case of full refund. However, in case of a partial refund, OSSL shall deduct a settlement fee subject to the deduction of the settlement fee by the concerned bank.

Following procedure and policies are agreed upon by [Company] and OSSL for any kind of refund-related cases:

Case 1: Refund Generated by Merchant

Step 1: A merchant will send a request to OSSL for refunding the amount to the customer’s account if the customer has not availed the service. The Merchant shall send an email to OSSL at ______.eps.com.bd, mentioning the issue for refunding the transacted amount to the customer’s account with details of the service. The following information should be provided:

Step 2: If it’s a partial refund, OSSL refunds the amount from [Company]’s Account to the Customer’s Account. In case of a full refund, OSSL will also refund OSSL’s Settlement Fee amount. However, in case of a partial refund, OSSL shall deduct a partial settlement fee as required by the concerned Bank.

Notes:

• Merchants have the full right to deduct any service charge from the refund amount as they are providing the service and may have already incurred courier or other expenses for the customer.
• OSSL will not refund any amount if the product/service has been delivered to the customer. In such cases, OSSL will communicate the merchant’s proof of delivery to the customer.
• Reference ID (provided by OSSL) should always be mentioned/shared whenever a refund-related email is sent from OSSL.
• Refunded amounts will be adjusted from [Company]’s Account to the customer’s account, whether partial or full.
• A refund claim should be settled within a maximum of 7 working days.
• A refund claim will be accepted for processing only if it is within 90 working days.
• Refunds for transactions processed by the Payment Service Operator (PSO) shall be governed by the applicable provisions under the Bangladesh Bank Order, 1972, the Bangladesh Bank Payment Systems Regulations, 2014, and any other relevant laws, rules, and guidelines issued by Bangladesh Bank or other competent regulatory authorities in Bangladesh.
• OSSL shall not be liable for any delay in the processing of refunds attributable to factors outside its reasonable control, including issues arising with third-party payment providers.
• Refunds shall not be applicable in cases involving transactions that are fraudulent, illegal, or carried out in violation of applicable laws, regulations, or terms and conditions of the PSO.

Operation and Refund Support:

For any support related to refunds, please contact:

• Email: support@eps.com.bd
• Phone: +8801324722898

Return, Refund, and Settlement Policy

This section outlines the standard terms and conditions for returns, refunds, and settlements according to the guidelines set by Bangladesh Bank for Payment System Operators (PSOs) and any other relevant government laws. It includes anti-money laundering measures, customer data safety, and privacy policies for compliance and transparency.

Anti-Money Laundering (AML) Policies:

• Compliance: EPS - Easy Payment System strictly complies with the Government rules and Bangladesh Bank's AML regulations to prevent money laundering, terrorist financing, and illicit activities.
• Customer Identification: KYC is mandatory for transactions above Bangladesh Bank's prescribed limit. Verification measures are applied to prevent suspicious activities.
• Transaction Monitoring: All transactions are monitored for financial safety and security. Suspicious activities will be reported regularly to the Financial Intelligence Unit (FIU) of Bangladesh Bank.
• Record Keeping: Records of transactions and KYC details will be maintained as specified by Bangladesh Bank.

Customer Data Safety and Privacy Policy:

• Data Encryption: EPS - Easy Payment System employs encryption protocols to secure customer transactional data during transmission and storage.
• Confidentiality: Customer data is handled with strict confidentiality and is not disclosed to third parties unless required by government law enforcement authorities.
• Data Retention: Personal data is retained only as long as necessary to fulfill regulatory, legal, and business purposes, after which it is securely disposed of.

Settlement Criteria Based on Product/Service Delivery:

• Completed Deliveries: Settlements will be initiated for transactions where product/service delivery has been confirmed. Merchants will notify EPS upon successful delivery of the product/service.
• Failed or Incomplete Deliveries: If delivery cannot be completed due to merchant/service provider issues, merchants may request refunds as per the terms in Section 1.
• Digital Services: Delivery is considered complete upon successful access by the customer. Settlement will occur post-confirmation of access.
• Escrow Arrangements: EPS may hold funds in escrow until product/service delivery confirmation to ensure fairness and transparency in settlements.