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Chargeback Issue with Axis Bank and AeronPay - Compensation Query

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Çàrdøhôlïç

Çàrdøhôlïç

TF Select
*Hello TF Community,*

I'm sharing my frustrating experience with raising a chargeback through Axis Bank (source bank) for a transaction with AeronPay. Despite multiple escalations to the Nodal Officer and Principal Nodal Officer, Axis Bank denied my chargeback request.

I eventually filed a complaint with the RBI Ombudsman, which led to Axis Bank raising the chargeback request with AeronPay. Thankfully, after that axis bank refunded the full amount to my card.

However, I'm seeking clarification on refund compensation. According to RBI guidelines, e-commerce purchases require refunds to be credited within T+5 days; otherwise, compensation of ₹100/day is applicable. Since my money was stuck with AeronPay for 3 months, I believe the merchant or my source bank ( axis bank) is liable to pay me compensation.

Axis Bank offered me ₹2000 as compensation, but I calculate that I'm eligible for ₹8000 based on the guidelines. Has anyone faced a similar issue? Can someone confirm if I'm correct in seeking the higher compensation amount?

*TL;DR:* Chargeback issue with Axis Bank and AeronPay. Refund received, but seeking clarification on compensation eligibility.
 
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Plz explain how did you raise complaint against Aeronpay? I am also facing the similar situation, i paid my cc bill using Kotak rupay cc and Axis rupay cc in August 2024 for a combined value of 10,000. But Aeron did not pay my cc bill while money was deducted from my credit card. Guide me whether am i still eligible to escalate the issue? Aeronpay is replying all the time in general language that they are working on it bla bla.
 
CardTox said:
Plz explain how did you raise complaint against Aeronpay? I am also facing the similar situation, i paid my cc bill using Kotak rupay cc and Axis rupay cc in August 2024 for a combined value of 10,000. But Aeron did not pay my cc bill while money was deducted from my credit card. Guide me whether am i still eligible to escalate the issue? Aeronpay is replying all the time in general language that they are working on it bla bla.
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Actually i had received the same response from aeronpay so that i lost hope and raised a request to chargeback the amount from my source back.

Since the transaction is successful from their end they said that axis bank( My source bank) cannot raise a chargeback.

Hence I escalated my complaint to RBI Ombudsman. Yes in the CMS portal we cannot see aeronpay since they aren't regulated by RBI i think so. You should mail Rbi Ombudsman they will raise a complaint on our behalf.

But the first thing to do is raise a chargeback request from your source bank which is kotak and axis in your case.
Also if its a upi transaction you could raise it via npci portal.

Also i had mentioned in the mail that a lot of people are facing issues on that application and i had requested to blacklist that merchant dont know RBI is capable of doing that.

Also my question was is the refund compensation criteria (t+5 days for cards and after that 100/day ) applicable for chargebacks?
 
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Çàrdøhôlïç said:
Actually i had received the same response from aeronpay so that i lost hope and raised a request to chargeback the amount from my source back.

Since the transaction is successful from their end they said that axis bank( My source bank) cannot raise a chargeback.

Hence I escalated my complaint to RBI Ombudsman. Yes in the CMS portal we cannot see aeronpay since they aren't regulated by RBI i think so. You should mail Rbi Ombudsman they will raise a complaint on our behalf.

But the first thing to do is raise a chargeback request from your source bank which is kotak and axis in your case.
Also if its a upi transaction you could raise it via npci portal.

Also i had mentioned in the mail that a lot of people are facing issues on that application and i had requested to blacklist that merchant dont know RBI is capable of doing that.

Also my question was is the refund compensation criteria (t+5 days for cards and after that 100/day ) applicable for chargebacks?
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Hi all, even I am also a victim of this areonpay fraud. I lost around Rs. 90000/- ninety thousand rupees in August 2024; since then, I raised the issue with INGRAM, but no use. I sent many emails to all levels. Now, when I see the app, it asks for an upgrade. When I upgraded, I was unable to log in, and the app says OTP will come if the account exists. I AM CLUELESS AND FOOLED BY AERONPAY. PLEASE DON'T REFER OR SUGGEST THIS BLOODY APP.
 
REGIUS24 said:
Hi all, even I am also a victim of this areonpay fraud. I lost around Rs. 90000/- ninety thousand rupees in August 2024; since then, I raised the issue with INGRAM, but no use. I sent many emails to all levels. Now, when I see the app, it asks for an upgrade. When I upgraded, I was unable to log in, and the app says OTP will come if the account exists. I AM CLUELESS AND FOOLED BY AERONPAY. PLEASE DON'T REFER OR SUGGEST THIS BLOODY APP.
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Did you ask your bank to raise a chargeback?
If INGRAM didn't solve your problem then register a complaint in e-daakhil portal.
 
REGIUS24 said:
Hi all, even I am also a victim of this areonpay fraud. I lost around Rs. 90000/- ninety thousand rupees in August 2024; since then, I raised the issue with INGRAM, but no use. I sent many emails to all levels. Now, when I see the app, it asks for an upgrade. When I upgraded, I was unable to log in, and the app says OTP will come if the account exists. I AM CLUELESS AND FOOLED BY AERONPAY. PLEASE DON'T REFER OR SUGGEST THIS BLOODY APP.
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Raise a chargeback request to your bank and the money would get refunded. Will take around 45-50 days for that process but still worth it.

Also you could ask for compensation for the delay in refund.

If bank denies chargeback then escalate the concern to RBIO.

Got my ₹19500 refunded and also uninstalled that application. Since our money would get credited to aeronpay's bank accounts they could resolve this issue.

My issue was not even getting addressed by axis bank and i escalated my issue to RBIO via email and my money got refunded to source.

Also the people who are facing this issues raise a chargeback asap if lot of chargebacks are filed to a merchant they would get blacklisted that is the only option to stop aeronpay from cheating customers.
 
Çàrdøhôlïç said:
Raise a chargeback request to your bank and the money would get refunded. Will take around 45-50 days for that process but still worth it.

Also you could ask for compensation for the delay in refund.

If bank denies chargeback then escalate the concern to RBIO.

Got my ₹19500 refunded and also uninstalled that application. Since our money would get credited to aeronpay's bank accounts they could resolve this issue.

My issue was not even getting addressed by axis bank and i escalated my issue to RBIO via email and my money got refunded to source.

Also the people who are facing this issues raise a chargeback asap if lot of chargebacks are filed to a merchant they would get blacklisted that is the only option to stop aeronpay from cheating customers.
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i have scrren shots of the same ..would you help me how to proceed further? dear technofino. since it happened long back i dont know how to go further.
 
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What is the time limitation for filing the charge back? I did transaction of 10k in August 2024, since then Aeronpay kept my money, can i still file chargeback with Kotak? Can i still file RBIO complaint?
 
CardTox said:
What is the time limitation for filing the charge back? I did transaction of 10k in August 2024, since then Aeronpay kept my money, can i still file chargeback with Kotak? Can i still file RBIO complaint?
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yes it might be possible.

But one question what made you wait for this long to take action on a huge amount which is stuck for more than an year.

I didn't even care to wait for 30 days (specified by RBIO ) to escalate my complaint.

Hope your funds get refunded, please update here with the details.

Also you didn't mention the bank/ card which you used for payment.
 
CardTox said:
What is the time limitation for filing the charge back? I did transaction of 10k in August 2024, since then Aeronpay kept my money, can i still file chargeback with Kotak? Can i still file RBIO complaint?
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Charge back not possible directly but raise issue on ombudsman that bank has denied of filling chargeback.

Other way you can complain on consumer grievance cell (nch) . Their also put complaint but not with bank here with merchant. If no option just enter merchant name there and email or contact no if they have. Just do immediately otherwise 1 year will be completed and you can't do nothing.
 
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