Refund Policy

1 Overview

This Refund Policy describes how refunds, voids, chargebacks, and transaction disputes are handled within the BIX® Payment System. It applies to all merchants, system operators, and end-users who process or receive payments through the platform.

BIX® acts as a payment gateway and processing platform. We facilitate the technical processing of payment transactions on behalf of merchants. Refund eligibility, return windows, and customer-facing return policies are determined by each individual merchant — not by BIX®.

2 Supported Payment Methods

The BIX® Payment System supports the following payment methods, all of which are eligible for refund processing:

2.1 Credit & Debit Card Payments

The platform processes payments using all major credit and debit card brands, including Visa and Mastercard. All card data is handled in full compliance with PCI DSS Level 1 standards.

2.2 ACH (Bank Account) Payments

The platform supports bank-to-bank transfers through the ACH network, including:

• ACH Credit: Receiving payments into a bank account.
• ACH Debit: Making payments from a bank account.

3 Refunds

3.1 Who Determines Refund Eligibility

Refund eligibility is determined solely by the merchant from whom you made your purchase. BIX® processes refund transactions on behalf of merchants but does not independently evaluate or decide whether a refund is warranted. If you believe you are entitled to a refund, please contact the merchant directly.

3.2 How Refunds Are Processed

When a merchant initiates a refund through the BIX® platform, the refund is processed back to the original payment method used by the customer. Refunds cannot be redirected to a different card, bank account, or payment method than the one used for the original transaction.

3.3 Partial Refunds

Merchants may issue partial refunds for a portion of the original transaction amount. Partial refunds are processed in the same manner as full refunds and are returned to the original payment method.

3.4 Refund Limits

A refund cannot exceed the amount of the original transaction. Multiple partial refunds may be issued against a single transaction, provided the combined total does not exceed the original payment amount.

4 Void Transactions

A transaction may be voided before it has been settled. Voiding cancels the transaction entirely, and the funds are released back to the customer's account — typically faster than a standard refund.

• Void requests must be initiated by the merchant or system operator through the platform.
• A void can only be processed before the transaction batch has been settled (typically within the same business day).
• Once a transaction has been settled, it cannot be voided. A refund must be processed instead.

5 Chargebacks

5.1 What Is a Chargeback

A chargeback occurs when a cardholder disputes a transaction with their card issuer or bank, and the issuer reverses the payment. Chargebacks are governed by the rules of the applicable card network (Visa, Mastercard, etc.).

5.2 Chargeback Fees

A chargeback fee of $20.00 per occurrence applies and is borne by the merchant. This fee is non-refundable regardless of the outcome of the chargeback dispute.

5.3 Merchant Obligations

Merchants are responsible for responding to chargeback disputes within the timeframes required by the card network. BIX® will provide merchants with the transaction data and documentation necessary to contest a chargeback, but the merchant is solely responsible for submitting a response to the issuing bank.

5.4 Excessive Chargebacks

Merchants with chargeback rates that exceed acceptable thresholds established by the card networks may be subject to additional monitoring, increased fees, or suspension of processing services. BIX® reserves the right to terminate a merchant's account if chargeback activity poses a risk to the platform or its payment processor relationships.

6 Transaction Fees & Refunds

To be clear, when a refund or void is processed:

• The customer receives their money back (in full or in part, as applicable).
• The original transaction processing fee charged by BIX® is not returned to the merchant.
• The refund transaction itself does not incur an additional processing fee.

7 Refund Processing Times

Refund timing depends on the original payment method and is subject to the policies of the customer's financial institution:

• Credit & debit card refunds: Typically reflected on the customer's statement within 5–10 business days, depending on the card issuer.
• ACH refunds: Typically completed within 3–5 business days.
• Void transactions: Funds are typically released within 1–3 business days, as the original charge is simply cancelled before settlement.

BIX® processes refund requests promptly upon receipt from the merchant. Delays beyond the timeframes above are attributable to the customer's bank or card issuer and are outside BIX®'s control.

8 Merchant Responsibilities

As a merchant using the BIX® Payment System, you are responsible for:

• Establishing and clearly communicating your own refund and return policy to your customers at or before the point of sale.
• Processing refund and void requests in a timely manner through the BIX® platform.
• Responding to chargeback disputes within the required timeframes and providing supporting documentation.
• Maintaining chargeback rates within acceptable thresholds as defined by the applicable card networks.
• Ensuring that your refund practices comply with all applicable laws and consumer protection regulations in your jurisdiction.

BIX® provides the technical infrastructure to process refunds and manage disputes but does not act as an intermediary between you and your customers in refund decisions.

9 Contact

If you have questions about this policy, need assistance processing a refund, or wish to report a transaction dispute, please contact us at admin@bixsystem.com.