Refund Policy

Last updated: 01/12/2025

1. Overview

NeoTec Financial Services Ltd provides payment onboarding and operational support services to merchants and intermediaries processing payments via regulated acquiring and banking partners.

Refunds relating to transactions processed through these payment rails are handled in accordance with applicable card-scheme rules, partner institution requirements, contractual arrangements, and regulatory obligations.

This policy explains how refunds relating to transactions processed through NeoTec’s operational infrastructure are managed.

2. Merchant Responsibility

Refunds are initiated and managed by the merchant providing goods or services to the customer, not by NeoTec directly.

Merchants are responsible for:

• Setting and communicating their own refund and returns policies to customers
• Initiating refunds through the relevant payment channels
• Complying with Visa, Mastercard and other applicable card-scheme rules
• Meeting applicable consumer protection and regulatory obligations

NeoTec does not determine merchant refund policies.

3. Processing of Refunds

Where refunds are approved by a merchant, funds are typically returned to the original payment method used for the transaction.

Processing times may vary depending on:

• The merchant’s refund policy and internal procedures
• Card-scheme and partner institution rules
• Issuing bank processing times

NeoTec does not control the time required for issuing banks or payment institutions to credit funds back to cardholders.

4. Fees and Charges

Certain processing or operational fees may be non-refundable, subject to the commercial terms agreed between NeoTec and the merchant or intermediary.

Details of applicable fees are set out in the relevant merchant or service agreements.

5. Chargebacks and Disputes

Refunds differ from chargebacks or disputes raised by cardholders through their issuing bank.

Chargebacks and disputes are handled in accordance with:

• Card-scheme rules
• Merchant and partner acquiring agreements
• Applicable legal and regulatory requirements

NeoTec may assist in operational coordination but does not make dispute determinations.

6. Consumer Enquiries

Cardholders seeking a refund should contact the merchant directly in the first instance.

NeoTec does not have authority to issue refunds on behalf of merchants except where explicitly agreed under specific contractual arrangements.

7. Contact

For general queries relating to this policy, please contact:

info@neotecfinancial.com
NeoTec Financial Services Ltd
167–169 Great Portland Street
London, England, W1W 5PF
Company Number: 16134360