DISPUTE RESOLUTION & REVERSAL GUIDELINES

Refund & Dispute Policy

Fair consumer protection rules governing transaction refunds, duplicate payment reconciliations, failed interbank transfers, and chargeback arbitration.

Last revised: 29 August 2026
🏛ī¸ Regulatory Notice & Consumer Protection Mandate

Fimpaypoint (operated by Fim Digital Ventures Limited) is a financial technology software provider, not a bank. We do not hold a banking license or accept customer deposits directly. Payment collection checkouts, virtual accounts, and interbank reversals operate in technical partnership with Central Bank of Nigeria (CBN) licensed commercial banks, microfinance banks, and payment switching institutions. All refund workflows adhere to the Central Bank of Nigeria Consumer Protection Framework.

1. Scope & Core Principles

This Refund & Dispute Policy outlines the protocols and operational timelines for resolving unfulfilled orders, failed transactions, duplicate debits, and contested payments processed through Fimpaypoint.

Fimpaypoint operates as a payment infrastructure gateway connecting buyers and merchants through licensed banking rails. We provide automated refund tools, dispute logging consoles, and reconciliation audit trails to ensure transparent resolution.

2. Merchant Refund Responsibilities

The merchant selling goods or services is the primary merchant of record responsible for order fulfillment, customer satisfaction, and published return policies:

  • Voluntary Merchant Refunds: A merchant may initiate a full or partial refund to a customer directly from their dashboard for any settled transaction where the customer is entitled to a refund.
  • Refund Source: Merchant-initiated refunds are deducted directly from the merchant's available ledger balance and credited back to the original funding source (payer bank account or card).
  • Fulfillment Disputes: When a customer reports non-delivery or defective items, the merchant is given a reasonable window to provide delivery documentation or issue a refund before formal chargeback escalation.

3. Failed Interbank Transfers & Automatic Reconciliations

In cases where a payer initiates a bank transfer to a dynamic or dedicated virtual account, but the downstream bank network encounters a timeout:

  • Automated Retry & Match: Our settlement reconciliation system continuously polls interbank rails for delayed credits. If the deposit arrives late, it is matched to the pending transaction reference.
  • Unmatched Deposit Auto-Reversals: If funds were deducted from the payer's bank but cannot be credited to an active order (e.g. expired link or incorrect reference), the sending bank automatically processes an interbank reversal within 24 to 48 banking hours in compliance with NIBSS dispute timelines.

4. Duplicate Debits & Overpayments

If a customer experiences a duplicate debit for a single invoice due to multiple clicks or parallel bank network authorization:

  • Our automated reconciliation system flags duplicate credits with identical reference hashes.
  • Upon confirmation from our banking partner, the excess amount is queued for programmatic reversal back to the payer's source bank account without service fees.

5. Chargebacks & Interbank Dispute Arbitration

When a payer's bank issues a formal chargeback claim through switching networks (NIBSS, Mastercard, Visa, Verve):

Dispute Lifecycle:
  1. Notice & Temporary Hold: The disputed amount is placed on temporary hold from the merchant's available balance to prevent negative ledger risk.
  2. Evidence Window: The merchant receives an automated notification and has 5 business days to submit fulfillment proof, waybills, or signed customer receipts.
  3. Arbitration Ruling: If the evidence satisfies card scheme rules, the hold is released immediately. If the claim is upheld in favor of the customer, the disputed funds are refunded to the customer's issuing bank.

6. Non-Refundable Statutory Levies

In accordance with applicable financial directives, statutory regulatory taxes and processing levies remitted to government authorities on completed transactions are strictly non-refundable.

7. Initiating a Dispute or Refund Inquiry

If you are a customer or merchant seeking assistance with a failed transaction, duplicate debit, or unfulfilled order:

Dispute Arbitration Desk Include your transaction reference (e.g. FIM_TXN_...) and proof of payment.
[email protected]
Last Revised: 29 August 2026 • Published by Fim Digital Ventures Limited Dispute Desk: [email protected]