GIFT CARD / GIFT VOUCHER ISSUANCE & PRODUCT GOVERNANCE POLICY

This Policy establishes the governance framework for designing, approving, configuring, issuing, activating, redeeming, modifying and retiring gift-card and gift-voucher products offered by REMPINDIA MULTITRADE PRIVATE LIMITED through its approved business and regulated partner arrangements.

Where gift-card or voucher issuance, stored value, payment processing or settlement is performed by an authorised PPI issuer, bank or other regulated partner, REMPINDIA shall operate within the partner's approved framework and applicable law. REMPINDIA shall not represent itself as the issuer of a regulated PPI unless separately authorised.

• Ensure every product has documented ownership and approval.
• Define product features, limits, restrictions and customer terms before launch.
• Protect customers from incorrect issuance, duplication, misuse and operational errors.
• Maintain controlled product configuration and change management.
• Ensure product-level reconciliation and auditability.
• Provide a controlled process for suspension and retirement.

This Policy applies to digital and physical gift cards/vouchers, product catalogues, denominations, merchant-funded or partner products, promotional vouchers where applicable, APIs, issuance systems, activation, redemption, refunds, expiry, cancellation, settlement and product retirement.

Each product shall have a designated business owner and documented product specification covering purpose, customer segment, merchant/issuer relationship, value/denominations, validity, redemption conditions, restrictions, fees if any, refund rules, settlement flow and support process.

1. Prepare product proposal and specification.
2. Identify applicable legal and regulatory requirements.
3. Confirm authorised partner responsibilities.
4. Complete risk, fraud, information-security and privacy assessment.
5. Confirm customer-facing terms and disclosures.
6. Complete technology and operational testing.
7. Obtain required partner and management approvals.
8. Record approval before production launch.

Products shall use controlled identifiers, versioning and configuration records so that transactions, settlements, customer support and reporting can be traced to the correct product version.

Gift-card/voucher denominations, transaction limits, purchase limits, redemption limits and other restrictions shall be configured according to approved product specifications and applicable partner requirements.

• Generate or obtain voucher identifiers through approved systems.
• Prevent duplicate issuance.
• Maintain issuance status and transaction reference.
• Ensure activation occurs only after applicable conditions are satisfied.
• Restrict administrative issuance rights.
• Maintain audit logs for material issuance actions.

Activation shall be controlled so that a voucher becomes usable only according to the approved product flow. Failed, cancelled or exceptional activation events shall be recorded and reconciled.

Redemption shall be processed through approved merchant, partner or system channels. The system should validate status, validity, available value and applicable restrictions before completing redemption.

Validity periods shall be defined in the product specification and communicated clearly to customers. Expiry handling shall follow applicable law, product terms and partner requirements.

Product terms shall clearly disclose material conditions including purchase, activation, validity, redemption, restrictions, cancellation, refund, dispute and support arrangements.

Changes to value, validity, merchant network, redemption rules, customer eligibility, fees, technology flow or other material features shall undergo appropriate impact assessment, approval, testing and controlled deployment.

Products or voucher series may be suspended where there is a material security issue, fraud risk, partner instruction, regulatory concern, system error or other approved business reason. Suspension actions shall be documented and customer impact assessed.

Product design shall consider fraud risks including bulk purchase abuse, stolen payment instruments, automated issuance, account compromise, voucher leakage, redemption abuse, refund abuse and merchant misuse.

Where customer identification or financial-crime controls apply, product design shall support applicable KYC, AML/CFT and transaction-monitoring requirements and shall not introduce features that bypass mandatory controls.

Each product shall have a documented payment and settlement flow, including transaction identifiers, settlement responsibilities, reconciliation requirements, refunds and exception handling.

Issuance, activation, redemption, refund, cancellation and settlement records shall be reconciled at appropriate intervals. Unmatched or exceptional items shall be investigated and resolved.

Product systems and APIs shall follow approved security, access control, authentication, logging, change-management and testing requirements. Production configuration shall be protected from unauthorised modification.

Product design shall follow data minimisation, access control, confidentiality, retention and secure-disposal requirements applicable to customer and transaction data.

Critical product services shall be included in continuity and recovery planning. Dependencies on PPI, bank, payment, merchant and technology partners shall be documented.

Support procedures shall cover activation issues, redemption issues, lost or compromised accounts/vouchers, refunds, disputes, expiry queries and other product-related complaints.

Material product defects, incorrect issuance, widespread redemption failures, security incidents or customer-impacting errors shall be escalated under the applicable incident-management process.

1. Approve retirement decision.
2. Assess outstanding customer and merchant obligations.
3. Stop new issuance as planned.
4. Provide appropriate customer/partner communication where required.
5. Complete redemption/refund/settlement reconciliation.
6. Archive required records.
7. Disable product configuration and access.

Product specifications, approvals, configuration records, test evidence, change records, transaction/reconciliation records, customer terms, incidents and retirement records shall be retained according to applicable requirements.

Any exception shall be documented, risk-assessed and approved by authorised management. Mandatory law, regulation or partner controls shall not be overridden.

This Policy shall be reviewed at least annually and whenever there is a material change in product design, partner arrangements, regulatory requirements, technology or risk profile.