Automated reconciliation and refund handling for your transactions.
If a payout transaction fails due to invalid beneficiary details, downtime at the beneficiary bank, or network timeouts, the transaction amount and any associated fees are automatically reversed and credited back to the merchant's PayNit wallet immediately upon receipt of failure status from the banking network.
Transactions that remain in a 'Pending' state with the banking networks undergo automated status checks. If a transaction ultimately fails after the cooling period (typically T+1 days), the refund is automatically processed to the wallet.
Since PayNit facilitates API-driven bank transfers (IMPS/UPI), once a transaction is successfully processed and credited to the beneficiary's account, it cannot be reversed or refunded by PayNit. Merchants must settle disputes directly with their respective beneficiaries.
Merchants may request a withdrawal of their available wallet balance to their registered bank account at any time. Withdrawals are processed within 24-48 business hours after standard compliance checks.
