. Introduction

PrestoRewards is a loyalty and rewards management platform that allows eligible users to earn rewards through coupon redemptions and withdraw their available wallet balance directly to their bank accounts.

This Payout & Refund Policy explains the payout process, eligibility requirements, transaction failures, refunds, reversals, and applicable deductions.

2. Payout Eligibility

To request a payout, users must meet the following conditions:

• Have an active PrestoRewards account.
• Complete the required KYC and profile verification.
• Maintain sufficient withdrawable wallet balance.
• Provide valid and accurate bank account details.
• Comply with PrestoRewards terms and applicable regulations.

PrestoRewards reserves the right to hold or reject payout requests that do not meet these requirements.

3. Payout Process

• Users can request wallet withdrawals through the PrestoRewards application.
• Payouts are processed through supported banking channels, including IMPS and NEFT, subject to availability.
• Users must provide accurate beneficiary bank details.
• Transaction status can be tracked through the application.
• Processing time depends on banking networks, verification requirements, and transaction status.

A payout request submission does not guarantee immediate credit to the beneficiary’s bank account.

4. Payout Processing Time

Payouts are generally initiated after successful verification and applicable approvals.

Actual credit time may vary depending on the receiving bank, payment network, bank holidays, technical issues, or other operational circumstances.

PrestoRewards does not guarantee instant settlement of every transaction.

5. Failed Payouts & Refunds

If a payout transaction fails or is rejected by the banking system:

• The transaction status will be verified with the banking service provider.
• The failed payout amount will be reversed or restored to the user’s PrestoRewards wallet, wherever applicable.
• Wallet reversals will be processed only after confirmation that the payment has not been successfully credited.
• Transactions marked as pending will not be treated as failed until the final banking status is confirmed.

Users should not submit duplicate payout requests while an existing transaction is pending.

6. Cancellation & Reversal Policy

Once a payout has been successfully processed and credited to the beneficiary’s bank account, it generally cannot be cancelled or reversed through PrestoRewards.

Cancellation of pending requests may be permitted only where technically and operationally feasible.

Any duplicate, incorrect, or disputed transaction will be reviewed individually.

7. TDS & Applicable Deductions

Rewards and withdrawals may be subject to Tax Deducted at Source (TDS) under Section 194R of the Income Tax Act, 1961, where applicable.

• Applicable TDS is calculated according to prevailing tax regulations.
• TDS deductions and wallet adjustments are reflected in the user’s transaction records.
• The final withdrawable balance may differ from the total rewards earned due to applicable deductions or adjustments.

Users are responsible for providing accurate PAN and other required tax information.

8. Incorrect Bank Details

Users are responsible for ensuring that their bank account number, account holder name, IFSC code, and other required information are correct.

PrestoRewards shall not be responsible for payout delays or failures resulting from incorrect information provided by users.

Transactions involving incorrect or disputed beneficiary details will be handled in accordance with applicable banking procedures.

9. Refunds for Purchases

PrestoRewards is primarily a rewards and loyalty management platform and does not directly sell products or services through its wallet payout facility.

Therefore, traditional product return or purchase refund policies are generally not applicable to PrestoRewards reward transactions.

Refunds under this policy refer primarily to failed bank payouts, eligible wallet reversals, and transaction corrections.

10. Fraud Prevention & Transaction Security

PrestoRewards may temporarily hold, investigate, or reject transactions involving:

• Suspicious or fraudulent redemption activities.
• Duplicate or unauthorized payout requests.
• Incomplete or incorrect KYC information.
• Violation of platform terms and conditions.
• Banking or regulatory compliance concerns.

Such measures are intended to protect users and maintain transaction security.

11. Customer Support & Dispute Resolution

Users experiencing payout delays, failed transactions, wallet discrepancies, or other payout-related issues can contact the PrestoRewards Support Team through the application or official support channels.

Users should provide their registered mobile number, payout reference number, and relevant transaction details to assist with verification.

All disputes will be reviewed based on available transaction records and banking confirmations.

12. Policy Updates

PrestoRewards reserves the right to update this policy to reflect changes in operational procedures, banking requirements, applicable laws, or platform features.

The latest version will be made available through the official PrestoRewards website or application.