Paytm issue of not actually initiating the refund but showing status as initiated refund, my 99.5k stuck.

147°

949
26
Last Comment 2024-01-16

2023-12-27

My cc bill payment of 50k done on 19.12.23, 48k done on 22.12.23, 1500/- done on 25.12.23 and 5/- done on 27.12.23 were failed after deducting the amount from source and immediately Paytm shown message that refund has been initiated.

But the thing is that their system displaying that refund message as a template mechanism but not actually initiating the refund.

My 99.5k stuck in this way so please be careful and better stay away from them until such technical issues are sorted out in their platform.

Every time I am trying to raise my concern through help section, their system closing down my ticket as resolved by simply throwing a message that the refund has been initiated and when it will be credited contact the source bank without giving any kind of refund reference number.

I contacted their twitter handle today and am yet to get any response.

I will post updates here if I get any.

In the meantime if any of you faced same experience, please post how you resolved it. ThanQ.

Update 1:- Their twitter handle admitted that refund were not processed yet but in a escaping terminology that refunds were failed so initiating refunds again today. I asked them to share refund reference numbers if there is any truth in their version but no response from them.

Update 2:- For 2nd and 3rd transactions app showing some refund reference number now but no refund received actually to source. For the 1st, even no reference number generated.

Top Comments

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9782865

aam_aadmi

2023-12-27

Link Copied

This is one of the main sources of income for Paytm and Mobikwik. As interest is earned on daily basis, the longer they retain the failed payment amount with themselves, the higher is their income.

They may be deliberately failing some of the transactions for this purpose.

25 Comments |

10 Dimers

Sort By

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9782860

B3A5T

2023-12-27

Link Copied

Thank god, am not the only one.

My 20k is stuck.

Tried customer care from app and over call, bullshit it is.

Then I DM them over twitter, still not yet resolved. They said 7 business days.

If they can't solve anything over chat or call, why not declare twitter as default customer care place.

But unlike yours, I made payment of 5k+5k on 20th, it went through.

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9782863

rtejafriends

2023-12-27

Link Copied

If you have done txn between Saturday and Monday wait will tonight. It takes 48-72hrs for refund and till Monday it was holiday

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9782920

B3A5T

2023-12-27

Link Copied

Both of our transaction were on 19th.

A week ago.

View 3 more replies

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9782865

aam_aadmi

2023-12-27

Link Copied

This is one of the main sources of income for Paytm and Mobikwik. As interest is earned on daily basis, the longer they retain the failed payment amount with themselves, the higher is their income.

They may be deliberately failing some of the transactions for this purpose.

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9782968

narayana1dd249

2023-12-27

Link Copied

@neel648 the timeline specified by their own Paytm system and their customer support team is 48 to 72 hours not week businesses days.

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9782976

narayana1dd249

2023-12-27

Link Copied

@B3A5T what is the status it's showing in your Paytm account. Refund initiated only or refund initiated to so and so source also it's displaying there.

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9783096

B3A5T

2023-12-27

Link Copied

"Refund has been initiated from our end"

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9783102

P_A_N_K_A_J

2023-12-27

Link Copied

When 1st txn fails don't perform another 🥺

Wait for 7 BUSINESS DAYS. By this time you will recieve your refund. These are banking procedures. It gets lengthy.

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9783116

narayana1dd249

2023-12-27

Link Copied

Ok, if you receive your refund please update me @B3A5T

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9783243

narayana1dd249

2023-12-27

Link Copied

@P_A_N_K_A_J where it's written that if we perform 2nd transaction the failed first transaction refund delayed or will not be given

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9783615

Tanmayyy

2023-12-27

Link Copied

haye raam 😭

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9783333

Deal_Breaker_

2023-12-27

Link Copied

why are you guys using paytm for cc payment any offers??

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9784286

Sidhi.Baat.No.Bakwas

2023-12-27

Link Copied

Why system can't be like this made failed it will refund instantly?

Maybe 10 min time frame max.. it's always hedech when big ant stuck for week in air

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9788705

B3A5T

2023-12-30

Link Copied

@narayana1dd249 did you get the refund?

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9788950

narayana1dd249

2023-12-30

Link Copied

Update 3:- In my earlier update 2, I mentioned that for the 2nd and 3rd failed transactions I got some refund reference number. With those reference numbers I contacted the bank and yesterday those were refunded as paid from Branch not as Paytm refund. For the 1st failed transaction, there is no reference number yet and the bank told me to wait as they are gonna file or filed the chargeback. @B3A5T

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9789102

B3A5T

2023-12-30

Link Copied

Oh, so in your transaction bank was a party?
Mine was paid using wallet, and I can't even contact them.

View 3 more replies

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9789113

narayana1dd249

2023-12-30

Link Copied

In Twitter, DM them with a threat that we will raise our concern to RBI. @B3A5T

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9820684

loldeet12353

2024-01-15

Link Copied

I also did payment on 5th Jan, it also got failed , Twitter guys are not even responding, after giving threats to file RBI ombudsman case ...

They need a RBI Ombudsman bamboo, so that they don't do it again

https://www.desidime.com/discussions/paytm-issue-of-not-actually-initiating-the-refund-but-showing-status-as-initiated-refund-my-99-5k-stuck?page=1#post_9822680

narayana1dd249

2024-01-16

Link Copied

my refund issue resolved after almost 3 weeks from the transaction date, that too only after multiple attempts of raising my concern. Actually they are supposed to pay compensation of 100/- for each day of delay as per RBI prescribed TAT guidelines but they paid NIL.