The goals of these terms of use are to make you aware of the conditions that govern your use and access to the (Website Name) Platform (described below), as well as what you may expect from us as you use and interact with the (Website Name) Platform that we provide.
With the help of the (Website Name) Platform, companies may use technology to manage their banking, compliance, accounting, payments, and collections from a single dashboard.
According to the Information Technology Act of 2000 and its implementing laws, as relevant and as occasionally revised, these terms of use are an electronic record. There are neither physical nor digital signatures necessary for this electronic record because it is produced by a computer system. These Terms are published in accordance with the requirements of Rule 3(1)(a) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 created under the Information Technology Act, 2000 (as amended from time to time), and they serve as a legally binding and enforceable contract between (Website Name) and the User (as defined below)
The User's use of and/or access to the Website is subject to these General Terms. These Terms are an essential component of and must be read in conjunction with the following:
The Privacy Policy ("Privacy Policy"), which is available at (Website URL), governs how the Website may be used or otherwise made available to Users. Your access to the Service(s) is subject to the terms and conditions set forth by the Server Providers.
The meanings given to the following capitalized words are to be followed, unless the context clearly dictates otherwise.
In accordance with the User information provided, KYC, risk assessment, and execution of any additional controls or protocols that may be necessary to verify and authenticate the User in accordance with applicable laws, including but not limited to the RBI Guidelines, the Administrator at (Website Name) will grant permission for the User to use a specific Service or set of Services. This approval is referred to as "Admin Verified".
Any bank that receives money transferred by the User to the Customer is referred to as the "Acquiring Bank."
Any bank or financial institution that is licenced and governed by the Reserve Bank of India ("RBI"), with whom (Website Name) has partnered to provide the Services, is referred to as a "Bank." This statement makes it clear that the term "Bank" also refers to any sponsor banks with which (Website Name) has partnered to create software protocols and direct API connections.
Any day that banks in (State Name), (Country Name) are open for business is referred to as a "Business Day."
A bank account that the User has connected to the (Website Name) Platform for the purpose of settling proceeds is referred to as a "Business Current Account" or "Payment Account." The Business Current Account can be opened with any Bank and linked to the (Website Name) Platform for settlements, or it can be opened already and linked to the (Website Name) Platform by completing KYC verification. Any User's use of the Business Current Account is subject to the conditions outlined by the relevant bank.
The written rules, regulations, releases, procedures, interpretations, and other restrictions (whether contractual or otherwise) imposed and implemented by the Card Payment Network are referred to as "Card Payment Network Rules."
"Confirmation of Delivery" is the confirmation that the User gives to (Website Name) that the goods or services have been delivered to the customer, allowing (Website Name) to transfer the cash gathered in the Escrow Account to the User's Business Current Account in compliance with RBI Guidelines. Until specifically terminated in writing by the User, this authorization will continue in full force and effect.
Any person or organization that transacts with the User and transfers funds to the User is referred to as a "customer."
According to the RBI Guidelines, "Escrow Account" refers to the nodal account or escrow account that (Website Name) maintains with the Bank.
"Know Your Customer" or "KYC" refers to a number of standards, directives, laws, and ordinances that must be followed in order for (Website Name) to get personal identity information from Users wishing to access or use the (Website Name) Platform, including any updated RBI Guidelines.
Online accounts opened by Users in accordance with RBI Guidelines and subject to the (Website Name) Platform's onboarding criteria are referred to as "Online Business Accounts," "(Website Name) Pay," or "User Accounts."
Any individual to whom a payment is made via the Services is referred to as a "Payee," and this term includes Users who use the Services to receive payments.
Any individual who utilizes the Services to make a payment is referred to as a "Payer," and this term includes Users who do the same.
"Service(s)" refers to and encompasses the following products and services that (Website Name) offers to Users upon their request:
Any organization, group of people, facility provider, lender, card-issuing institution, bank, card processor, or clearing house network is referred to as a "Service Provider" if their facilities or services are used in the delivery of the Services.
"Transaction" refers to a payment instruction that successfully transfers money from a User to a Payee or a Payer to a User, depending on the circumstances.
Any natural person or legal person (single proprietor, partnership business, company, LLPs, trusts, societies, or HUFs) that registers on the (Website Name) Platform and/or transacts with it or uses its services is referred to as a "User," "You," "Your," and "Yourself," depending on the context. The term "User" also refers to any of the User's employees, officers, directors, or other representatives who use their user account credentials to access the (Website Name) platform with either full access or, as appropriate, restricted access.
Only those who are "competent to contract" as defined by Section 11 of the Indian Contract Act, 1872, and are therefore "eligible to contract" under the Indian Contract Act may access or utilize the (Website Name) Platform.
You must have a User Account registered on the (Website Name) Platform in order to access and utilize the (Website Name) Platform and Services. You are given a User Account in collaboration with the Banks in compliance with the RBI Guidelines. In this regard, You shall make all documents and information necessary to carry out KYC in accordance with the RBI Guidelines available to the Company and the Service Providers (where applicable). If you do not always submit true, accurate, current, and complete information, (Website Name) has the right to refuse your registration and revoke your access to the (Website Name) Platform and/or Services. (Website Name) has the right to request the self-attested copies of the papers that were submitted during or after the registration procedure in order to undertake KYC on the User.
You comprehend and indisputably concur that even if You are permitted to conduct transactions on the (Website Name) Platform, the monies will not be credited to Your account if You have outstanding KYC requirements according to RBI Guidelines. Additionally, We reserve the right to withhold the settlement amounts from You upon non-fulfillment of Your KYC obligations, as stated above, to the satisfaction of (Website Name), and to ultimately reverse the funds to the account from which such payment originated if the non-fulfillment of Your KYC obligations persists.
Based on the information you supply while registering on the (Website Name) Platform, a User Account will be made for you. While you will be fully responsible for anything that occurs through the User Account, it is important that you keep the User credentials private. You are responsible for making sure that the User Account information is always accurate and up to date. You must notify (Website Name) in writing at least 30 (thirty) Business Days in advance of any change to the User's email address, cell phone number, address, authorization, control, or legal status, as well as any termination of the User's business.
The security and secrecy of the login, password, and any other information relevant to the User Account, as well as preventing unauthorized access to the User Account and devices, are your constant responsibility. (Website Name) disclaims all responsibility for any error or abuse of the User Account made by the User, by anyone to whom the User has granted authorization, or by anyone who uses the User Account to access the Services.
It shall be Your obligation to routinely check these Terms for modifications or revisions. Any changes to these Terms will be deemed accepted if you continue to use the (Website Name) Platform after they are made. (Website Name) grants the User a personal, non-exclusive, non-transferable, restricted right to access and use the (Website Name) Platform, subject to the User's continuous compliance with these Terms.
You agree to use the (Website Name) Platform only for legal business purposes and to refrain from engaging in any prohibited, illegal, or immoral behavior or helping in any way the continuation of any such activity that violates any law or regulation, including but not limited to the RBI Guidelines.
This statement makes it clear that any money in the business current account is kept by the appropriate bank and is subject to the rules established by that bank. The account holder listed on the bank's records shall be the rightful owner of any funds in the business current account, subject to any relevant bank fees.
You will be accountable for any liabilities, expenses, or losses resulting from (a) the User supplying false, inaccurate, or misleading information; and (b) the compromise of the User Account credentials, and you will hold (Website Name) harmless from any such losses. In the event that these Terms are broken, (Website Name) retains the right to deny access to the (Website Name) Platform, terminate accounts, remove, or change content at any time without prior warning to the User in question.
In order to make the Services possible, the User unconditionally allows (Website Name) to create Lightweight Directory Access Protocol (LDAP), the User credentials, and subscribe to the APIs on the sponsor Bank's web portal or software platform. In order to facilitate the Services, including authorisation for initiating inquiries with the Banks on their behalf, the User hereby authorizes (Website Name) to service the User's Business Current Account with respect to queries and complaints raised by the User and/or third parties.
Depending on the services you have requested or used, as well as the pricing or subscription plan you have chosen on the (Website Name) Platform, you will be charged costs ("Fee"). Any fee or charge or institute may be changed by (Website Name), and the User agrees to pay all fees and charges that are subsequently imposed without objection or delay.
Any fees paid in excess of what is specified in these Conditions will not be refunded by (Website Name).
If any use or sales tax, income tax, duty, or other governmental tax or charge is imposed on the fees, the User is responsible for paying it.
To identify and stop high-risk behavior and fraudulent transactions, (Website Name) may monitor all Transactions. It is acknowledged that (Website Name) might work with Service Providers to support these efforts as well. The user account may be suspended temporarily or permanently if there is any suspicious or unusual conduct occurring through it.
The User and (Website Name) each represent and covenant to the other that: (a) they do not store card information or any related data within their databases or any servers they access, aside from for specific, lawful purposes that comply with the RBI Guidelines; (b) they will abide by the data security protocols specified under the RBI Guidelines, including the procedures for incident management and reporting; and (c) their systems and infrastructure comply with the Payment Card Industry Data Security Standard. Additionally, the User guarantees to (Website Name) that its infrastructure and systems abide by the Payment Application-Data Security Standard (or "PA-DSS"), if applicable.
At its sole and absolute discretion, (Website Name) may conduct audits, risk and security assessments, and inspections of the User. In addition, (Website Name) may impose additional conditions or restrictions on the User Account, including but not limited to: (a) setting up a reasonable reserve to cover potential Chargebacks (defined below) and associated costs; and (b) withholding Services and requiring the User to upgrade its infrastructure in accordance with applicable laws.
Without first obtaining the third party's prior written consent, the User will not sell, provide, exchange, or otherwise disclose to third parties or use themselves (other than for the purpose of concluding a transaction or as expressly required by law) any personal information about any third party (whether its Customer or otherwise), including the financial information and any personal identification information.
In the (Website Name) Platform, we make use of cookies. The majority of interactive websites employ cookies to make it possible to retrieve user information for each visit. In various areas of the (Website Name) Platform, cookies are used to enable and improve the functioning and user-friendliness for the Users. The User agrees to the use of cookies in accordance with the Privacy Policy by using the (Website Name) Platform. Moreover, some Service Providers might employ cookies.
Usage of the Services does not allow (Website Name) the right to use, reproduce, adapt, alter, publish, or distribute any content created and/or saved in the User Account, unless express permission is given by the User. Despite the above, the User grants (Website Name) permission to access, copy, distribute, store, transmit, reformat, or disclose the information in the User Account in order to provide the Services that the User has requested or accessed.
The User is free to send or publish any content they have produced, whether utilizing one of the Services or otherwise. Nonetheless, the repercussions of such content's transmission or publication are completely the User's responsibility. When using the Services, the User may receive content from third parties. This content is provided to the User "AS IS" for their information and personal use only. As a result, the User agrees not to use, copy, reproduce, distribute, transmit, broadcast, display, sell, license, or otherwise exploit this content for any purpose without the express written consent of the third party whose rights to it.
If information provided on the (Website Name) Platform is not true, complete, or correct, we disclaim all liability. The content on the (Website Name) Platform is primarily for general informational purposes, and it should not be relied upon or utilized as the only basis for choices without first contacting primary, more reliable, more comprehensive, or more up-to-date sources of information. User assumes all risk associated with any reliance on information found on the (Website Name) Platform. The (Website Name) Platform might include some historical data. Historical material is supplied solely for the User's reference and is inherently out of date. While we reserve the right to change the (Website Name) Platform's contents at any time, we are under no responsibility to keep it updated. The User acknowledges that it is his or her duty to keep track of modifications to the (Website Name) Platform.
The (Website Name) Platform may make reference to or contain connections to websites, programmes, services, and resources from third parties, but this does not imply that we support those channels. The Company makes no representation or warranty of any kind regarding the accuracy, reliability, effectiveness, or correctness of any aspect of any third-party services, and as a result, the Company is not responsible for the content, products, or services that are available from third-party services. We only provide these links as a convenience to the User to access certain services. The User acknowledges entire responsibility and assumes all risk arising from the User's use of any third-party services. The User is responsible for reading and comprehending the terms and conditions and privacy policy that apply to the User's use of any third-party services.
All intellectual property and proprietary rights (collectively, "IPR") in the (Website Name) Platform and Services shall remain the sole and exclusive property of (Website Name) and its licensors, as applicable. This includes all copyrights, patents, trade secrets, trademarks, service marks, trade names, moral rights, and other IPR. Without (Website Name)'s prior written approval, the IPR may not be copied, duplicated, distributed, transmitted, broadcast, displayed, sold, licenced, uploaded, or otherwise used.
You recognise and acknowledge that nothing in these Terms should be read as establishing a partnership or joint venture between the User and (Website Name) or as making one party in any way liable for the debts and obligations of the other.
You will not identify yourself (online or off) as an agent or representative of (Website Name), nor will you give any assurances that could obligate (Website Name) or the Service Provider to take on or be held accountable for, whether directly or indirectly, any obligation and/or responsibility to the User or any third party.
The User agrees not to divulge any non-public information that it may acquire or discover on the Website or through the Services, try to utilize it, or use it for its own personal gain. This requirement will exist until the User's activity causes the previously private information to become known to the public. The User agrees to promptly and diligently notify (Website Name) and cooperate fully with (Website Name) in protecting such information to the extent permitted by applicable law if the User is required to divulge any such non-public information by order of a court or other governmental or legal body (or has knowledge that such an order is being sought).
If necessary to facilitate providing any Services to the User at the User's request, or if necessary to ensure compliance with applicable law, or if we reasonably believe in good faith that it is necessary to I respond to claims made against (Website Name) or to comply with legal process, or (ii) for fraud prevention, risk investigation, user support, product development, and debugging, (Website Name) may access, preserve, and disclose any information about the User.
(Website Name) shall have the right to rely on all electronic communications, orders, or messages given to (Website Name) through the Service Providers in processing Transactions, including and to the extent that this complies with the Service Providers' processing mechanism, any relevant laws, and the RBI Guidelines. (Website Name) is not required to confirm the sender's identity or conduct any research into the authenticity of any communications, orders, or messages.
(Website Name) will make every effort to provide uninterrupted and error-free access to the availability of the Services. In such instances, (Website Name) shall not be liable for any disruption of any Services. However, access to the application may periodically be suspended or limited to allow for maintenance, repairs, or the introduction of new facilities and Services. We reserve the right to choose when and what will be in software updates, which may be downloaded and installed by a programme automatically at any moment without giving the user a warning.
The Services are offered "as is" and "as available." With the exception of the implied warranties of merchantability and fitness for a particular purpose, (Website Name) expressly disclaims all warranties, whether express or implied. (Website Name) disclaims any assurance for the continuity, punctuality, security, or error-free operation of the Services. The full risk associated with the User's access to and use of the Website and Services is with the User to the fullest extent permitted by law. Each of the Services shall be subject to a different limitation of liability.
In the event of a force majeure event, such as an act of God, a fire, lightning strike, explosion, flood, inclement weather, a communication system failure, equipment failure, a strike, a lockout, or any other cause beyond (Website Name)'s control, (Website Name) shall not be liable for any breach of these Terms.
A claim, suit, or proceeding brought against (Website Name) by another User, a Service Provider, or a third party may be brought for a variety of reasons, including but not limited to I a breach, non-performance, non-compliance, or inadequate performance by the User of any of the terms. The User shall hold (Website Name) harmless from and against any and all liability (including but not limited to liabilities, judgements, damages, losses, claims, costs and expenses,) or any other loss that may occur,
As part of using the Services, Users may get emails or text messages from (Website Name) with notifications, offers, discounts, and general information in order to provide feedback on User's services. The User is aware that the ability to stop receiving non-service-related communications can be found in the user account settings or by sending an email to (E-Mail ID), and by using the Service, the User expressly agrees to receive such communications. The User understands that the (Website Name) SMS service is an extra amenity offered for the User's convenience and that it may be subject to error, omission, and/or inaccuracy.
(Website Name) reserves the right to suspend or terminate a User's access to any or all of its services in the event that (a) the User violates these Terms; (b) the User engages in or is suspected of engaging in any illegal, fraudulent, or abusive activity; or (c) the User provides any information that is untrue, inaccurate, not current, or incomplete, or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with these Terms.
If (Website Name) notices that the User is engaging in any suspicious or unusual activity on the (Website Name) Platform, (Website Name) may, in its sole discretion, suspend the User's access to the (Website Name) Platform temporarily or permanently and/or take any other steps necessary to reduce risk, including but not limited to withholding funds or returning funds to the source from which the payment was made.
Without limiting the terms below, these Terms are governed by Indian law, and (city name), India's competent courts shall have exclusive jurisdiction over any issues arising out of or related to the Terms.
In the event of a dispute or claim arising out of or related to the Terms, (Website Name) and the User acknowledge and agree that: (a) the transaction logs kept by (Website Name) will be the only source of information to verify the accuracy of such transactions; (b) such logs will be fully binding as evidence for the purposes of adjudicating the said dispute or claim; and (c) the said dispute or claim shall be settled by binding arbitration in accordance with the Arbitration and Council Rules.
A valid, enforceable provision that most closely matches the intent of the original provision will be deemed to have superseded it in the event that any part of these Terms is found to be unlawful, unenforceable, or invalid under applicable law, including, but not limited to, the warranty disclaimers and liability limitations set forth herein.
Contact us if you have any questions or concerns about this Terms and Conditions.
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