‍

As per Reserve Bank of India (RBI) guidelines, a closed wallet system according to the Reserve Bank of India (RBI) refers to a type of prepaid payment instrument (PPI) that is issued by a company for its own use, primarily to facilitate transactions within a specific ecosystem of the company. The key characteristics of a closed wallet system are:

• Restricted Usage: The funds stored in a closed wallet can only be used to purchase goods and services from the issuer of the wallet. Users cannot use the wallet to make payments to other merchants or transfer funds to other users or bank accounts.
• No Cash Withdrawal: Users cannot withdraw cash from a closed wallet. The balance can only be used for the specific purposes defined by the issuer, such as buying products or services from the issuer's platform.
• No Interoperability: Closed wallets are not interoperable with other payment systems. This means users cannot transfer money from a closed wallet to an open or semi-closed wallet or a bank account.
• No Requirement for RBI Authorization: Since the funds in a closed wallet are only used within the issuer's platform and are not transferable, the RBI does not require such wallets to be authorised or regulated as PPIs. However, the issuer must still comply with applicable laws and ensure customer protection.

Overview 

IONAGE is committed to providing a seamless and transparent experience for all users of our EV charging platform. As part of this commitment, we have established the following refund policy for our closed wallet system. This policy outlines the conditions under which refunds may be issued, the process for requesting a refund, and the timelines involved.

Eligibility for Refunds

Refunds from the IONAGE wallet will be considered under the following circumstances:

• Technical Errors: If a charging session is interrupted or fails due to a technical error or malfunction of the charging station, and the user is charged more than what was consumed during the session.
• Incorrect Charges: If a user is charged incorrectly or more than the actual cost of the charging session due to billing errors or discrepancies.

Non-Refundable Situations

The following situations are not eligible for refunds:

• Change of Mind: Refunds will not be provided for unused wallet balances simply because the user no longer wishes to use the IONAGE service/App.

Refund Request Process

• Submission: To request a refund, users must submit a request through support@ionage.in within 7 days of the charging session in question. The request should include the date, time, location of the session, and a brief description of the issue.
• Verification: Once a request is received, IONAGE will review the transaction details, technical logs, and any other relevant information to verify the claim.
• Decision: Users will be notified of the decision regarding their refund request within 10 business days of submission through an email. If the request is approved, the refund will be credited back to the user’s IONAGE wallet in the next 7 business days.

Refund Methods

• Wallet Refund: Approved refunds will be credited back to the user’s IONAGE wallet. The refund amount will be available for use in future charging sessions.
• No Cash Refunds: Refunds will only be issued in the form of wallet credits. No cash or direct bank transfers will be provided.

Contact Information

For any questions or concerns regarding this refund policy, users may contact our customer support team at support@ionage.in or call our helpline at +91 7892548366.

Policy Updates

IONAGE reserves the right to update or modify this refund policy at any time. Any changes will be communicated to users via the IONAGE app and website.

Governing Law

This refund policy is governed by the laws of India. Any disputes arising from this policy will be subject to the jurisdiction of the courts in Bangalore, India.