Terms & Conditions
Terms and Conditions of "Paykar" Wallet Services provided by Paykart Technologies Pvt. Ltd. (here-inafter referred to as "PTPL") having its registered office at 192 Naveen Kunj Shyam Industrial Area Loni Ghaziabad 201102, India under the license of Reserve Bank of India (RBI) as semi-closed system payment instruments comprising of the "Paykar" Wallet from PTPL.
These 'Terms and Conditions' (defined below) and any attachments or accompanying supplement(s) shall also include the terms and conditions stated on PTPL's website www.Paykar.co.in ,governing usage of the PPI ("Paykar Wallet Account") held by you ("You/user/Customer") youhereby agree to abide by these Terms and Conditions and You shall be deemed to have unconditionally agreed to and accepted these terms by performing a transaction with the PPI and shallhave complied with all the relevant notifications/ guidelines / circulars issued by the Reserve Bank of India (RBI)/ any other competent authority / statutory or regulatory body/ies governingthe issue and use of the PPI. PTPL disclaims all liability on account of any breach by You of the relevant notifications/ guidelines / circulars in force at the relevant time and as may be modifiedfrom time to time, governing usage of the PPIs. You understand and agree that PTPL reserves the right to update the Paykar Terms and Conditions from time to time. If these Terms and Conditions are not acceptable, you must not use the PPI.
THESE TERMS AND CONDITIONS ARE AN ELECTRONIC RECORD IN THE FORM OF AN ELECTRONIC CONTRACT FORMED UNDER INFORMATION TECHNOLOGY ACT, 2000 AND RULES MADE THEREUNDER AND THE AMENDED PROVISIONS PERTAINING TO ELECTRONIC DOCUMENTS / RECORDSIN VARIOUS STATUTES AS AMENDED BY THE INFORMATION TECHNOLOGY ACT, 2000. THE SAMEDOES NOT REQUIRE ANY PHYSICAL, ELECTRONIC OR DIGITAL SIGNATURE. IT IS DISCLOSED IN COMPLIANCE WITH SECTION 21 OF PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 AND AS REQUIRED TO BE DISCLOSED UNDER POLICY GUIDELINES ON ISSUANCE AND OPERATION OF PREPAID PAYMENT INSTRUMENTS IN INDIA.
THESE TERMS AND CONDITIONS WILL BE EFFECTIVE UPON YOUR ACCEPTANCE OF THE SAME (IN ELECTRONIC FORM OR BY MEANS OF AN ELECTRONIC RECORD OR OTHER MEANS) AND WILL GOVERN THE RELATIONSHIP BETWEEN YOU AND PTPL FOR THE USE OF THE PPI AND YOU UNCONDITIONALLY AGREE TO ABIDE BY THE SAME. IF ANY OF THESE TERMS AND CONDITIONS CONFLICT WITH ANY OTHER DOCUMENT/ELECTRONIC RECORD IN THIS BEHALF, THESE TERMS AND CONDITIONS SHALL PREVAIL, UNTIL FURTHER CHANGES/ MODIFICATIONS ARE NOTIFIED BY PTPL
1. Definitions:
1.1 "AGENT Opening Form"/ "AOF" shall mean the form to be completed in writing by the Applicant Agent and to be submitted along with full KYC documents, physically at PTPL location and/or such other locations as may be intimated by PTPL.
1.2 "Agent(s)"/ "API Based Agent(s)" shall mean the retail agents appointed by PTPL, who shall be acting as agents of the PTPL to support opening of Paykar Wallet, loading money into Paykar Wallet & educate customers to use Paykar Wallet.
1.3 "Telecom Operator" shall mean the telecom service provider and its subsidiaries having thenecessary government approvals/ licenses, issued inter alia by the Department of Telecommunications, Government of India, and who shall provide telecom access service such as, Short Message Service ("SMS"), Unstructured Supplementary Service Data ("USSD"), General Packet Radio Service ("GPRS"), 3G & 4G or any other telecommunication protocols to facilitate networkcommunications required for operation of Paykar Wallet.
1.4 "User / Customer /Subscriber" shall mean an individual person above the age of 18 (eighteen) years, using an operational mobile phone connection of Telecom Operator in India (with country code +91), who download or approaches Agent's locations and/or such other locationsas may be intimated by PTPL from time to time, for availing the Paykar Wallet Services.
1.5 "Bill Payment" shall mean the transactions wherein the Customer uses the Paykar Wallet Services to make payments towards utility bills, merchant payments and other such bill payments as may be permitted under the RBI guidelines by utilizing the Paykar Wallet.
1.6 "Charges" shall mean all charges pertaining to the Transactions and more particularly specified in "Wallet Charges and Validity Section" hereof.
1.7 "Force Majeure Event" shall have the meaning ascribed to it in clause "15" hereof.
1.8 "KYC" shall mean the various norms, rules, laws and statutes issued by RBI from time to timeand shall include the Know Your Customer guidelines issued by the RBI, under which PTPL is required to procure personal identification details and proof of documents from the Agent and/or Customer as may be required at the time of submission of Application for premium Paykar Wallet and/or at a later date, for availing and/or continuation of the Paykar Services.
1.9 "Paykar Wallet" shall mean account which permit only payment of utility bills/ essential services. The amount loaded during any month shall not exceed Rs 10,000/- and can be issued by accepting minimum details of customer provided the amount outstanding at any point of time does not exceed Rs. 10,000 and the total value of reloads during any given month does notexceed Rs.10,000. These can be issued only in electronic form without any KYC being undertakenby PTPL. Cash withdrawal & redemption and transfer of funds to other Paykar Wallets/Bank Accounts is not permissible as per RBI guidelines.
1.10 "Premium Paykar Wallet" shall mean account which permit unlimited number of transactions with full KYC and can be reloaded in nature. However, the balance in the premium Paykar Wallet should not exceed Rs 100,000.00 at any point in time. Cash withdrawal & redemption isnot allowed as per RBI guidelines.
Subscribers can register their own beneficiaries and the limit for the fund transfer for these preregistered beneficiaries shall not exceed Rs. 1,00,000/- per month per beneficiary.
The fund transfer limit for all other cases shall be restricted to Rs. 10,000/- per month.
Fund transfer to a Bank Account can be done by specifying the Bank Account Numberand the Bank IFSC Code.
1.11 "Paykar Wallet & Premium Paykar Wallet" shall mean the semi closed pre-paid instrument issued by PTPL as authorized and licensed by RBI under the RBI Guidelines.
1.12 "Merchant / Merchant Establishment" shall mean and include any outlet/ service providerwho have been authorized by PTPL to accept payment for goods or services.
1.13 "Paykar Wallet / Premium Paykar Wallet" shall mean a non-interest-bearing account opened in the name of the Customers, issued and maintained by PTPL for the purpose of ensuring usage of the account as per these Terms and Conditions, in order to enable the Customers to avail the "Paykar" Wallet Services on their mobile phones & "Paykar.com" website, in compliance with the RBI Guidelines.
1.14 "Transaction PIN" shall mean a secret password set up by the customer that would enablethe Customer to secure, access and operate their Paykar Wallet.
1.15 "Paykar Wallet Services" or "Services" shall mean the services offered by PTPL by operation of the "Paykar" Wallet.
1.16 "RBI" shall mean the Reserve Bank of India.
1.17 "RBI Guidelines" shall mean the applicable guidelines, regulations, notifications and instructions issued by RBI in relation to the issuance and operation of semi-closed system pre- paid payment instruments in India and operation of the "Paykar Wallet" and Paykar Wallet Services and all other guidelines and instructions inclusive of their respective amendments as may be issued and notified by RBI from time to time including The Payment and Settlement Systems Act, 2007 & regulations made there under.
1.18 "Transaction/s" shall mean any credit or debit of money balances in the Customer's PaykarWallet Account including but not limited to money transfer payments and receipts, payments for goods and services, utility payments & load money.
1.19 "Website" shall mean the website www.Paykar.com which is owned, established and maintained by PTPL.
1.20 "Cash Back (s)" shall mean the money credited to Customer of Paykar / Premium PaykarWallet as incentive to make transactions using Paykar Wallet.
1.21 The Customer / Agent would be allowed to perform wallet transaction either from the Mobile Phone App (downloaded and registered) or from the website www.Paykar.com
2. General Conditions:
2.1 PTPL shall operate and issue Paykar Wallet and be responsible to the Customers & Agentsfor all its acts of omissions and commissions as regards the Paykar Wallet in accordance with these Terms and Conditions.
2.2 The Paykar Wallet Services can only be availed by a person who has attained the age of 18Years (eighteen). A minor under a guardianship of a person who has capacity to contract may hold and use Paykar Wallet under such guardianship.
2.3 To avail of the Paykar Wallet Services from any Agent location, the Customers are requiredto only approach the authorized retail agents appointed by PTPL. Updated list of all the agents along with their phone numbers and addresses can be found on Paykar.com website and fromthe mobile application.
2.4 For Transactions conducted at Merchant Establishments and/ or Agent locations, the Cus- tomer should ensure receipt of a SMS as a confirmation of such Transactions.
2.5 In the event of any loss, and/or theft of the mobile phone, the Customer shall immediately do the following in order to deactivate the active Paykar session on the mobile device:
(a) call the customer care center on the number listed on the Website to have the active sessionon the mobile device deactivated; and
(b) register a complaint with the Mobile Telecom Operator to have the SIM number deactivated,
2.6 The Customer shall promptly inform PTPL about any changes in his/her permanent or communication address or other relevant KYC details and provide the supporting KYC document(s) that PTPL may require from time to time.
2.7 The Customer shall not assign or transfer the Paykar Wallet Account, or the Services, or otherwise grant any third party a legal or equitable interest over it.
2.8 The Customer shall be the sole and exclusive owner of the Transaction PIN set up by the user for authorizing Paykar Wallet transactions, and the Customer accepts sole responsibility for use, confidentiality and protection of the Transaction PIN. The Customer shall not disclose the Transaction PIN to any other person and shall not respond to any unauthorized SMS/ e-mail/phone call in which the Transaction PIN is asked for. PTPL and/ or Agent shall, in no manner whatsoever, be held responsible or liable, if the Customer incurs any loss as a result of the Trans-action PIN being disclosed/ shared by the Customer with any unauthorized persons or in any other manner whereby the security of the Transaction PIN is compromised.
2.9 The Customer acknowledges that any information provided to PTPL and/or Agent with the intention of securing the Paykar Wallet Account shall vest with PTPL and/or Agent (as the casemay be), and may be used by PTPL and/or Agent, at its discretion, for any purpose consistent with any applicable law or regulation and privacy policy and/or statement displayed on its web-site.
2.10 Any information submitted by the Customer while using the Paykar Wallet Services may be shared with third parties by PTPL and Agent, inter- alia, to facilitate the provision of PaykarWallet Services and any other additional services.
2.11 The Customer shall not use Paykar Wallet Services for any purpose that might be construed as contrary or repugnant to any applicable law, public policy or for any purpose that is contrary to PTPL or Agent policy or might prejudice the goodwill of PTPL and Agent.
2.12 The Customer acknowledges that in accordance with the RBI guidelines, PTPL maintains anescrow account with Bank for maintaining the outstanding balances and creation of necessary charge on such balance in the escrow account, as may be required in relation to Paykar Walletin such escrow account. The Customer upon signing of these Terms and Conditions agrees thatthe Customer shall have no objection in this regard.
2.13 The Customer confirms that he/she holds only one Paykar Wallet account for using the services offered on the mobile as well on the web and does not hold multiple active Paykar Wallet Account in violation of the applicable laws and regulations of the RBI.
2.14 The Customer shall have and shall continue to have, during the tenure of the Paykar Wal-let Services being offered to the Customer, an operational mobile phone connection with the Telecom Operator. The Customer shall immediately inform the PTPL and / or Agent in writing or at the Customer Service numbers of PTPL / Agent provided on their website, in the event of any change, cancellation, termination or surrender of the mobile phone connection with the Telecom Operator, failing which neither PTPL nor Agent shall be liable for any unauthorized Transactions on the Paykar Wallet Account.
2.15 You may need to install updates to your Paykar Mobile App or related Paykar software that PTPL introduces from time to time to access, use, or continue to use Paykar Services. YourPaykar Mobile App may communicate with Paykar servers from time to time to check for available updates to Paykar, such as bug fixes, patches, enhanced functions, missing plug-ins and new versions (collectively, "Updates"). Your use of Paykar requires that you have agreed to receive such automatically requested Updates. If you do not agree to such automatically re- quested and received Updates, then please do not use the Paykar App. Notwithstanding the foregoing, PTPL may update the Paykar App to a new version of such app, irrespective of any update settings that you may have selected within the Paykar App or your device, if PTPL determines that the update will fix a critical security vulnerability related to the app.
2.16 No outstanding balance shall be transferred to Company’s Profit & Loss account for at leastthree years from the expiry date of PPI. In case the PPI holder approaches the PPI issuer for refund of such amount, at any time after the expiry date of PPI, then the same shall be paid to the PPI holder in a bank account.
2.17 The electronic loading reloading of PPI only by cash, payment instruments issued only by regulated entities in India and shall be in INR only.
2.18 PTPL shall be responsible for all the PPIs issued by the authorized / designated agents.
2.19 PTPL shall be responsible as the principal for all acts of omission or commission of theirauthorized / designated agents, including safety and security aspects.
2.20 PTPL shall ensure preservation of records and confidentiality of customer information intheir possession as well as in the possession of their authorized /designated agents.
3. Wallet Charges & Validity:
3.1 Customer shall pay the Service Charges prescribed by PTPL in the form and manner pre- scribed for such payment. PTPL may at its discretion, change, amend, increase, or reduce the Service Charges without prior intimation to the Customer.
3.2 Any value in your Paykar Wallet that is utilized towards making payments for any Transaction shall be automatically debited from your Paykar Wallet. PTPL's responsibility is limited tothe debiting of your Paykar Wallet and the subsequent payment to any Merchant Establishment that you might transact with. PTPL does not endorse, promote, champion or warrant anygoods and/or services that might be bought/availed or proposed to be bought/availed using Paykar Wallet.
3.3 PTPL reserves the right to levy charges/ charge commission upon any amounts loaded uponyour PTPL Wallet or any amounts spent/utilized by Customer using Paykar Wallet.
3.4 To avail Paykar Wallet facility, Customer has to maintain minimum balance of Rs.100 all thetime. Customer can use Paykar Wallet for the loaded money minus Rs 100. For example: If Customer loaded his Paykar Wallet with Rs 500 then Customer can use Rs 400 against any transactions.
3.5 In case Customer decides to close the Paykar Wallet, PTPL reserves the right to charge up to Rs 150 as a maintenance/admin/infrastructure/opening charge for the duration of Paykar wallet used.
3.6 An Account Maintenance Charge (AMC) of up to Rs 150 (inclusive of applicable taxes) will be deducted by PTPL from the wallet balance annually on completion of 1 year of account activation, and thereafter every 1 year of completion of wallet usage.
3.7 If in case the Wallet balance on the date when the AMC is due is less than annual AMC value then the total available balance would be deducted as AMC (including the applicable taxes) and the wallet account will be closed.
3.8 If the Wallet balance has gone below the AMC value, then PTPL will send monthly SMS to the subscriber to remind that the Wallet balance has gone below the AMC value and if sufficient balance is not maintained then the Wallet will be closed on the next AMC due date and subsequently the Wallet account will be closed and the available balance will be charged towards theAMC.
3.9 Money Loading Charges for customer application
Transaction Type Charges
At Agent Location Nil
Credit Card Nil
Debit Card Nil
Net Banking Nil
UPI Nil
3.10 For money loaded at Agent locations, the Customer should ensure & verify the credit inPaykar Wallet after the transaction.
Maximum Service Fees* for portion of amount in the wallet loaded via
Type of Transaction Agent Location Credit Card Debit Card Net Banking UPI
Payment to 3rd Party Mer-chant Loca-tion / Web Sites Nil 1.75% 1% 1% 1%
Recharges / Top ups like mobile, DTH etc. Nil 1% Nil Nil Nil
Bill Payments Rs 10 to 1% (whichever is higher) Rs 10 to 3% (whichever is higher) Rs 10 to 2% (whichever is higher) Rs 10 to 2% (whichever is higher) Rs 10 to 2% (whichever is higher)
Money Transfer to Bank up to Rs 2000 Rs 40 Rs 40 plus 2% of transaction value Rs 40 plus 1% of transaction value Rs 40 plus 1% of transaction value Rs 40 plus 1% of transaction value
Money Transfer to Bank from Rs 2000 - Rs 5000 Rs 75 Rs 75 plus 2% of transaction value Rs 75 plus 1% of transaction value Rs 75 plus 1% of transaction value Rs 75 plus 1% of transaction value
Money Transfer to Friend (Wallet to Wallet Transfer) Nil 2% of the transaction value 1% of the transaction value 1% of the transaction value 1% of the transaction value
* Service Fee are excluding applicable government taxes.
3.11 Wallet Charges & Fees for Transactions
The fee displayed above are the maximum fees chargeable by PTPL for the transaction.The actual fee charged may be less than the maximum as decide by PTPL from time to time.
All service fees are exclusive of applicable government taxes and would be charged extra as per the applicable rates.
All the above charges will be displayed as service charges at the time of transaction. Customer may decline to any transactions before committing the transaction.
PTPL reserves the right to update the above-mentioned service charges.
Customer may contact the agent for pickup of money to be loaded into the PaykarWallet. In such case the agent may charge for pickup service as appropriate as mutuallyaccepted by agent and user on per visit basis.
Agent can load Customer Paykar Wallet only thru their Agent Account.
If multiple channels are used to load the Paykar Wallet. The following sequence willbe used to Debit the money from the Paykar Wallet
i. Amount loaded thru Credit Card
ii. Amount loaded thru Debit Card
iii. Amount loaded thru Net Banking
iv. Amount loaded at Agent location
3.12 PTPL reserves the right to set off any balance in your Wallet in order to recover funds for transactions processed as per your request.
4. Validity, Redemption and Forfeiture:
The validity of the PTPL Wallet remains in the active state as long as the transactions are done.
4.1 Any value in Your PTPL Wallet must be utilized:
Within 24 months from the date of your last Transaction or
Within 24 months from the date of activation; whichever is later.
4.2 Any value in your PTPL Wallet which is not utilized in the aforesaid manner may stand forfeited at the discretion of PTPL. PTPL reserves the right to forfeit the amount post adherence tothe following communication process:
If you do not use your wallet balance for 24 months, the wallets will be blocked in compliance with RBI guidelines. Paykar will intimate the customer three times at an interval of 15 days, through SMS, during the 45 days period prior to deactivating or suspension of the wallet.
4.3 All PPI holders can either re-activate the wallet after the due diligence or reclaim their amount in their bank accounts
5. Additional Terms for Agents:
5.1 Agent can only load Customer Paykar Wallet using his / her Agent Account.
5.2 PTPL reserves the right to do the due diligence / get police verification / get scrutiny of KYCdocuments submitted at the time of submitting AOF thru their own means or any 3rd party agency
5.3 Person applying for AOF has to fully co-operate with agency / PTPL staff for undergoing theprocess of due diligence / get police verification / get scrutiny of KYC documents
5.4 Agent Account will be opened after completion of due diligence / police verification / scrutiny of KYC documents process.
5.5 Agent can load their Agent Account only thru bank account registered with PTPL. All the commission to Agent will be credited to his / her Agent Account weekly.
5.6 Agent can register maximum up to 5 bank accounts with PTPL.
5.7 Person willing to become an Agent has to sign the detailed "Conduct Agreement" and "Terms and Conditions Agreement/" with PTPL.
5.8 Agent cannot object for displaying credit balance in their Agent Account, name, Home / Office / Shop address, landline, mobile numbers to the Customer by PTPL in order to facilitate Customer selecting the Agent thru which Customer wants to load money.
6. Reservations:
6.1 The collection, verification, audit and maintenance of correct and updated Customer information is a continuous process and PTPL reserves the right, at any time, to take steps necessaryto ensure compliance with all relevant and applicable KYC requirements.
6.2 PTPL reserves the right to discontinue the Services and/or reject the KYC documents at anytime at their sole discretion, if there are discrepancies in the information provided by the Customer or Agent and the particulars provided by the Customer or Agent in the KYC documents do not match the details mentioned in the AOF. In such cases, PTPL reserves the right to take appropriate action as they may deem fit and proper without incurring any liability in any manner whatsoever.
6.3 PTPL reserves the right to suspend and/or discontinue the Paykar Wallet Services at anytime, without giving prior intimation to the Customer, for any one of the following reasons, including but not limited to:
6.3.1 For any suspected violation of any rules, regulations, orders, directions, notifications is-sued by RBI from time to time or for any violation of these Terms and Conditions.
6.3.2 For any discrepancy or suspected discrepancy in the particular(sor documentation or AOFprovided by the Agent.
6.3.3 To combat potential fraud, sabotage, will full destruction, threat to national security or forany other force majeure reasons (more particularly detailed in clause 15 herein below) etc.
6.3.4 In order to comply with any applicable laws and regulations.
6.3.5 For any technical failure, modification, upgradation, variation, relocation, repair, and/ormaintenance due to any emergency or for any other technical reasons.
6.3.6 For any transmission deficiencies caused by topographical and geographical constraints/limitations.
6.3.7 If the Alliance Telecom Operator Provider's connection with which the Customer's PaykarWallet Account ceases to be operational.
6.3.8 On account of ineligibility of the Customer under any criteria as mandated by PTPL. However, prior to such suspension/ discontinuance of the Paykar Wallet Services, the Customer, at the sole discretion of PTPL, shall be provided with the ability to transfer and/ or utilizethe balances lying in the Paykar Wallet Account.
6.4 In the event of occurrence of Transactions that may be construed as dubious or undesirable,PTPL reserves the right to freeze operations in such Paykar Wallet Accounts and /or close the Paykar Wallet Account including reporting to authorities as may be required as per applicableregulations and as may be deemed fit and proper.
6.5 In case of network failure or for any other reason beyond the control of PTPL, there could be delay or failure to complete the Transaction. PTPL reserves the right to cancel the Transactionin case of any network failure. PTPL shall not be responsible for any kind of losses that may occurto the Customer due to such delay of failure to complete Transactions.
6.6 PTPL reserves the right to reject the Application along with the KYC and any documents of the Customer or Agent without providing any reason. PTPL reserves the right to retain such AOF and documents and photographs submitted along with it.
7. Customer/Agent conduct on the Mobile Phone Application & Website:
7.1 If PTPL requests registration information from Customer or Agent, then in such case Customer or Agent will promptly provide PTPL with true, accurate, current, and complete information.
7.2 Customer / Agent will promptly update their registration to keep it accurate, current, and complete.
7.3 If PTPL issues Customer / Agent a password, Customer / Agent must not reveal it to anyoneelse for safety of their Paykar Wallet.
7.4 Customer / Agent are responsible for maintaining the confidentiality of their accounts and passwords.
7.5 Customer / Agent agree to immediately notify PTPL of any unauthorized use of their passwords or accounts or any other breach of security.
7.6 Customer / Agent also agree to exit from their accounts at the end of each session.
7.7 PTPL will not be responsible for any loss or damage that may result if Customer / Agent failto comply with above requirements.
7.8 PTPL will not be responsible for any loss or damage that may result if Customer / Agent failto comply with above requirements.
7.9 Customer / Agent agree not to copy, modify, rent, lease, loan, sell, assign, distribute, reverseengineer, grant a security interest in, or otherwise transfer any right to the technology or software underlying its website/app or the Services.
7.10 Customer / Agent agree not to modify the software underlying its website/app in any manner or form or to use modified versions of such software, including (without limitation) for the purpose of obtaining unauthorized access to its website/app.
7.11 Without limiting the foregoing, Customer / Agent agree that Customer / Agent will not usethe services offered through its website/app to take any of the following actions.
(a) Obscene, offensive, indecent, racial, hatred to religion, anti-national, objectionable, defame,abuse, harass, stalk, threaten, or otherwise violate the legal right of others.
(b) Publish, post, upload, e-mail, distribute, or disseminate (collectively, "Transmit") any inappropriate, profane, defamatory, infringing, obscene, indecent, or unlawful content.
(c) Transmit files that contain viruses, corrupted files, or any other similar software or programsthat may damage or adversely affect the operation of another person's computer, its web- site/app, any software or hardware, or telecommunications equipment.
(d) Advertise or offer to sell any goods or services for any commercial purpose unless Customer/Agent have its written consent to do so.
(e) Transmit websites /app, services, products, surveys, contests, pyramid schemes, spam, unsolicited advertising or promotional materials, or chain letters.
(f) Download any file, recompile, or disassemble or otherwise affect its products that Customer / Agent know or reasonably should know cannot be legally obtained in such manner.
(g) Falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or the source of software or other material.
(h) Restrict or inhibit any other user from using and enjoying any public area within its websites/app
or store personal information about other end use
(j) Interfere with or disrupt its websites/app, servers, or networks.
(k) Impersonate any person or entity, including, but not limited to, a representative of PTPL or falsely state or otherwise misrepresent your affiliation with a person or entity.
(l) Forge headers or manipulate identifiers or other data in order to disguise the origin of any content transmitted through its websites/app or to manipulate your presence on its websites/app
(m) Take any action that imposes an unreasonably or disproportionately large load on its infrastructure/ network.
(n) Engage in any illegal activitiy
(o) Customer / Agent agree to use its bulletin board services, chat areas, news groups, forums, communities and/or message or communication facilities (collectively, the "Forums") only to send and receive messages and material that are proper and related to that particular Forum.
(p) Unauthorized access to its website/app is a breach of these Terms and a violation of the law.
(q) Customer / Agent agree not to access its website/app by any means other than through theinterface that is provided by PTPL for use in accessing its website/app.
(r) Customer / Agent agree not to use any automated means, including, without limitation, agents, robots, scripts, or spiders, to access, monitor, or copy any part of its website/app, exceptthose automated means that PTPL have approved in advance and in writing.
(s) Use of its website/app is subject to existing laws and the Terms. Any violation by Customer /Agent of any terms of this Terms and Condition or the laws of land may result in severe civil andcriminal prosecution under respective laws, penalties, forfeiture of Paykar Wallet Balance, sus-pension of Paykar Wallet Account, blacklisting on all PTPL website/app, and intimation/disclosure to the third-to-third parties to whom PTPL deems necessary.
(t) All rights reserved. Any rights not expressly granted herein are reserved. Violators may be prosecuted to the maximum extent possible.
(u) Nothing contained in these Terms shall limit its right to comply with governmental, court, and law enforcement requests or requirements relating to their use of its website/app.
7.12 In accessing www.Paykar.com web pages/app, Customer agrees that Customer may only access the content for their own personal non-commercial use.
7.13 Customer shall also not include excerpts or limited portions of information from www.Paykar.com /app in printed memos, reports, and presentations or any other manner.
7.14 Paykar Requests Customer / Agent to inform them in writing to remove certain content from its website/app, if they believe that content have been copied, are offensive and have been published in a manner that violates their intellectual property rights.
8. Copyright:
All rights, including copyright/trademark, in the content of www.Paykar.com web-pages/app is either owned or controlled by PTPL or used with due permission of the owner of that right.In accessingwww.Paykar.com pages/app, Customer / Agent agree that Customer / Agent mayonly access the content for their own personal non-commercial use.
Except where expressly stated otherwise, you are not permitted to copy, broadcast, download, store (in any medium), transmit, show or play in public, adapt or change in any way the content of www.Paykar.com web pages/app for any other purpose whatsoever without the prior writ- ten permission of PTPL. Use for any other purpose is expressly prohibited by law, and may resultin severe civil and criminal penalties. Violators will be prosecuted to the maximum extent pos- sible.
9. Refund Policy:
9.1 All sales/ Money Transfer / Bill Payments / Recharges are final with no refund or exchange permitted.
9.2 Customer / Agent are responsible for the mobile number, DTH account number, utility identification number, bank account number and details for Purchases / Money Transfer / Bill Payments / Recharges and all charges that result from those Purchases / Money Transfer / Bill Payments / Recharges.
9.3 PTPL is not responsible for any Purchase / Money Transfer / Bill Payment / Recharges for anincorrect mobile number, DTH account number, utility identification number, and bank accountnumber.
9.4 However, if in a transaction performed by Customer on the Site, money has been charged to their card or bank account or Paykar Wallet and a Purchase / Money Transfer / Bill Payments/ Recharges are not successful within 72 hours of their completion of the transaction, then Customer may inform us by sending an email to our customer services email address mentioned onthe Contact Us page.
9.5 Please include in the email the following details - the mobile number / DTH account number/Utility identification number / bank account, operator name, Transaction value, Transaction date and Order Number. PTPL shall investigate the incident and if it is found that money was indeed charged to Customer's card or bank account or Paykar Wallet without delivery of the Recharge then Customer will be refunded the money within 21 working days from the date of receipt of their email. All Refunds will be credited to your Semi Closed Wallet.
10. Termination: Agreement Violations:
Customer agrees that PTPL, in its sole discretion, for any or no reason, and without penalty, may suspend or terminate their account (or any part thereof) or their use of the Services and removeand discard all or any part of their account, Customer profile, or their recipient profile, at any time. PTPL may also in its sole discretion and at any time discontinue providing access to the Services, or any part thereof, with or without notice. Customer agrees that any termination of their access to the Services or any account Customer may have or portion thereof may be effected without prior notice, and Customer agrees that PTPL will not be liable to Customer or anythird party for any such termination. Any suspected fraudulent, abusive or illegal activity may be referred to appropriate law enforcement authorities. These remedies are in addition to any other remedies PTPL may have at law or in equity. Upon termination for any reason, Customer agrees to immediately stop using the Services. Any balance in your wallet, at the time of termination of service, would be refunded to you as per RBI guideline.
11. Limitation of Liability and Damages:
In no event will PTPL or its contractors, agents, licensors, partners, suppliers be liable to Customer for any special, indirect, incidental, consequential, punitive, reliance, or exemplary dam-ages (including without limitation lost business opportunities, lost revenues, or loss of anticipated profits or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever)arising out of or relating to (i) this agreement, (ii) the services, the site or any reference site, or (iii) their use or inability to use the services, the site (including any and all materials) or any reference sites, even if PTPL or a PTPL authorized representative has been advised of the possibility of such damages. In no event will PTPL or any of its contractors, directors, employees, agents, third party partners, licensors or suppliers' total liability to you for all damages, liabilities, losses, and causes of action arising out of or relating to (i) this Agreement, (ii) the Services, (iii) their use or inability to use the Services or the Site (including any and all Materials) or any Reference Sites, or (iv) any other interactions with PTPL, however caused and whether arising in contract, tort including negligence, warranty or otherwise, exceed the amount paid by Customer, if any, for using the portion of the Services or the Site giving rise to the cause of action or One Hundred Rupees (Rs.100), whichever is less. Customer acknowledge and agree that PTPLhas offered its products and services, set its prices, and entered into this agreement in relianceupon the warranty disclaimers and the limitations of liability set forth herein, that the warrantydisclaimers and the limitations of liability set forth herein reflect a reasonable and fair allocationof risk between Customer and PTPL, and that the warranty disclaimers and the limitations of liability set forth herein form an essential basis of the bargain between Customer and PTPL. PTPLwould not be able to provide the services to Customer on an economically reasonable basis without these limitations. Applicable law may not allow the limitation or exclusion of liability orincidental or consequential damages, so the above limitations or exclusions may not apply to Customer. In such cases, PTPL's liability will be limited to the fullest extent permitted by applicable law. This paragraph shall survive termination of this Agreement.
12. Indemnification:
Customer agrees to indemnify, save, and hold PTPL / Agent, its affiliates, contractors, employees, officers, directors, agents and its third party suppliers, licensors, and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to their use or misuse of the Servicesor of the Site, any violation by Customer of this Agreement, or any breach of the representations, warranties, and covenants made by Customer herein. PTPL reserves the right, at their expense, to assume the exclusive defense and control of any matter for which Customer is re- quired to indemnify PTPL / Agent, including rights to settle, and Customer agrees to cooperate with PTPL's defense and settlement of these claims. PTPL will use reasonable efforts to notify. Customer of any claim, action, or proceeding brought by a third party that is subject to the fore-going indemnification upon becoming aware of it. This paragraph shall survive termination of this Agreement.
13. Disclaimer; No Warranties:
To the fullest extent permissible pursuant to applicable law, PTPL and its third-party partners, licensors, and suppliers disclaim all warranties, statutory, express or implied, including, but notlimited to, implied warranties of Merchantability, fitness for a particular purpose, and non-in- fringement of proprietary rights. No advice or information, whether oral or written, obtained by Customer from PTPL or through the services or the site will create any warranty not expresslystated herein. Customer expressly acknowledge that as used in this section, the term "PTPL" includes PTPL's officers, directors, employees, shareholders, agents, licensors, subcontractors and affiliated companies. Customer acknowledges that PTPL is a reseller of Mobile recharges and is not liable for any 3rd party (Telco's & suppliers) obligations due to rates, quality, and all other instances, whether to any such telco's subscribers or otherwise. Customer expressly agrees that use of the services and the site is at your sole risk. It is Customer's responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise and other information provided through the site or on the internet generally. We do not warrant that the service will be uninterrupted or error-free or that defects in the site will be corrected. The services and the site and any data, information, third party software, reference sites, services, or software made available in conjunction with or through the services and the site are provided on an "as is" and "as available," "with all faults" basis and without warranties or representations of any kind either express or implied. PTPL, and its third-party suppliers, li- censors, and partners do not warrant that the data, PTPL software, functions, or any other in- formation offered on or through the services, the site or any reference sites will be uninterrupted, or free of errors, viruses or other harmful components and do not warrant that any of the foregoing will be corrected. PTPL and its third-party suppliers, licensors, and partners do notwarrant or make any representations regarding the use or the results of the use of the services,the site or any reference sites in terms of correctness, accuracy, reliability, or otherwise. Customer understands and agrees that Customer use, access, download, or otherwise obtain information, materials, or data through the services, the site or any reference sites at your own discretion and risk and that you will be solely responsible for any damage to your property (including your computer system and device) or loss of data that results from the download or use of such material or data. We do not authorize anyone to make any warranty on our behalf and Customer should not rely on any such statement. This paragraph shall survive termination of this agreement. In no event will PTPL be liable for any incidental, consequential, or indirect dam-ages (including, but not limited to, damages for loss of profits, business interruption, loss of programs or information, and the like) arising out of the use of or inability to use the site.
14. Arbitration:
PTPL may elect to resolve any dispute, controversy or claim arising out of or relating to these terms and conditions or Service provided in connection with these terms and conditions by binding arbitration in accordance with the provisions of the Indian Arbitration & Conciliation Act, 1996. Any such dispute, controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration shall be conducted in New Delhi, India and judgment on the arbitration award may be entered in any court having jurisdiction thereof. Either Customer or PTPL may seek anyinterim or preliminary relief from a court of competent jurisdiction in New Delhi, India, necessary to protect the rights or the property of Customer or PTPL (or its agents, suppliers, and sub-contractors), pending the completion of arbitration. Any arbitration shall be confidential, and neither Customer nor PTPL may disclose the existence, content or results of any arbitration, except as may be required by law or for purposes of the arbitration award. All administrative fees and expenses of arbitration will be divided equally between Customer and PTPL. In all arbitrations, each party will bear the expense of its own lawyers and preparation. The language of Arbitration shall be English.
15. Governing Law:
Except as otherwise agreed by the parties or as described in the Arbitration section above, youagree that any claim or dispute Customer may have against PTPL must be resolved by a court located in New Delhi, India. Customer agrees to submit to the personal jurisdiction of the courtslocated within New Delhi, India for the purpose of litigating all such claims or disputes. This termof Agreement shall be governed by the laws of India, without giving effect to any principles of conflicts of law.
16. Modifications of Terms and Condition
PTPL has the right, in it sole and absolute discretion, to change, modify, or amend any portion of the Terms and Conditions at any time. The changes will become effective, and shall be deemed accepted by you, after the initial posting and shall apply on a going-forward basis withrespect to transactions initiated after the posting date. In the event that you do not agree withany such modification, your sole and exclusive remedy is to terminate your use of the Services.
17. Severability:
If any provision of this Agreement is held to be unlawful, void, invalid or otherwise unenforceable, then that provision will be limited or eliminated from this Agreement to the minimum ex- tent required, and the remaining provisions will remain valid and enforceable.
18. Assignment:
This Agreement, and any rights granted hereunder, may not be transferred or assigned by Customer without PTPL prior written consent which may be withheld in our sole discretion, but maybe assigned by PTPL without restriction. Any assignment attempted to be made in violation of this provision shall be void and of no effect.
19. Force Majeure:
19.1 PTPL shall inform the Customer of the existence of a Force Majeure Event and shall consulttogether to find a mutually acceptable solution. "Force Majeure Event" means any event due toany cause beyond the reasonable control of PTPL, including, without limitation, unavailability of any communication system, breach or virus in the processes or payment mechanism, sabotage,fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots,insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage device, computer crashes, breach of security and encryption, etc.
19.2 PTPL shall not be liable for any failure to perform any of its obligations under these terms or the specific terms and conditions if the performance is prevented, hindered or delayed by a Force Majeure Event and in such case its obligations shall be suspended for so long as the ForceMajeure Event continues.
20. Entire Agreement:
This is the entire agreement between Customer and PTPL relating to the subject matter hereofand will not be modified except in writing, signed by both parties, or by a change to this Agree-ment made by PTPL in accordance with the terms of this Agreement.
21. Full KYC of the PPI holder
21.1 The cash loading in such wallets shall not exceed Rs 49,500 per month.
21.2 The amount outstanding at any point of time in such wallets shall not exceed Rs.1,00,000/-
21.3 Each sender shall be allowed to add only 5 beneficiaries per day.
21.4 Fund transfer at Paykar is only possible if the beneficiary is pre-registered. customers can register the beneficiary by providing bank account details of the beneficiary.
21.5 For each beneficiary, The funds transfer limit shall not exceed Rs.1,00,000/- per month per beneficiary.
21.6 The PPI holder may at their discretion set fund transfer limits on their wallet by contactingthe customer care. The customer care after due verification process shall implement the trans-fer limits within 48 working hours. The customer shall be informed of the transfer limit set by call or sms.
21.7 PTPL shall also give an option to close the PPI and transfer the balance as per the applicablelimits of this type of PPI. For this purpose, the PTPL shall provide an option, including at the timeof issuing the PPI, to the holder to provide details of pre-designated bank account or other PPIsof same issuer (or other issuers as and when permitted) to which the balance amount availablein the PPI shall be transferred in the event of closure of PPI, expiry of validity period of such PPIs,etc.
21.8 The features of such PPIs shall be clearly communicated to the PPI holder by SMS.
21.9 PTPL shall clearly indicate the expiry period of the PPI to the customer at the time of issuance of PPIs. Such information shall be clearly enunciated in the terms and conditions of sale ofPPI. Where applicable, it shall also be clearly outlined on the website / mobile application of the issue.
21.10 PTPL has a 5 minutes cooling minutes for funds transfer upon opening the PPI so as to mitigate the fraudulent use of PPIs.
21.11 PTPL shall also give an option to close the wallet and transfer the balance as per the applicable limits. For this purpose, the PTPL shall provide an option, including at the time of issuingthe wallet, to the holder to provide details of pre-designated bank account or other wallets of PTPL (or other PTPL as and when permitted) to which the balance amount available in the walletshall be transferred in the event of closure of wallet, expiry of validity period of such wallets, etc.
21.12 The features of wallets shall be clearly communicated to the PPI holder by SMS / e-mail /post or by any other means at the time of issuance of the PPI / before the first loading of funds.
21.13 The wallet holders are permitted to redeem the outstanding balance in the wallet, if for any reason the scheme is being wound-up or is directed by RBI to be discontinued.
22. Customer Management Policy
22.1 Customer Liability
A customer’s liability arising out of an unauthorized payment transaction will be limited to:
Customer liability in case of unauthorised electronic payment transactions through a PPI
S. No. Particulars Maximum Liability of Customer
(a) Contributory fraud / negligence / deficiency on the part ofthe PTPL, including PPI-MTS issuer (irrespective of whether ornot the transaction is reported by the customer) Zero
(b) Third party breach where the deficiency lies neither with PTPL nor with the customer but lies elsewhere in the system, and the customer notifies PTPL regarding the unauthorised payment transaction. The per transaction customer liability in such cases will depend on the number of days lapsed between the receipt of transaction communicationby the customer from the PTPL and the reporting of unauthorised transaction by the customer to the PTPL - Third party breach where the deficiency lies neither with PTPL nor with the customer but lies elsewhere in the system, and the customer notifies PTPL regarding the unauthorised payment transaction. The per transaction customer liability in such cases will depend on the number of days lapsed between the receipt of transaction communicationby the customer from the PTPL and the reporting of unauthorised transaction by the customer to the PTPL -
i. Within three days# i. Within three days#
ii. Within four to seven days# ii. Within four to seven days#
iii. Beyond seven days# iii. Beyond seven days#
(c) In cases where the loss is due to negligence by a customer, such as where he / shehas shared the payment credentials, the customer will bear the entire loss until he / she reports the unauthorised transaction to the PTPL. Any loss occurring afterthe reporting of the unauthorised transaction shall be borne by the PTPL.
(d) PTPL may also, at their discretion, decide to waive off any customer liability in caseof unauthorised electronic payment transactions even in cases of customer negligence.
# The number of days mentioned above shall be counted excluding the date of receiving the communication from PTPL.
The above shall be clearly communicated to all Wallet holder.
22.2 Reversal timeline for zero liability / limited liability of a customer
22.2.1 On being notified by the customer, the PTPL shall credit (notional reversal) the amount involved in the unauthorized electronic payment transaction to the customer’s PPI within 10days from the date of such notification by the customer (without waiting for settlement of insurance claim, if any), even if such reversal breaches the maximum permissible limit applicable to that type / category of PPI. The credit shall be value-dated to be as of the date of the unauthorized transaction.
22.2.2 Further, PTPLs shall ensure that a complaint is resolved and liability of the customer, if any, established within such time, as may be specified in the PTPL’s Board approved policy, but not exceeding 90 days from the date of receipt of the complaint, and the customer is compensated as per provisions of paragraph 2.1 above. In case the PTPL is unable to resolve the complaint or determine the customer liability, if any, within 90 days, the amount as pre- scribed in paragraph 1.1 shall be paid to the customer, irrespective of whether the negligenceis on the part of customer or otherwise
22.3 Board approved policy for customer protection
22.3.1 Considering the risks arising out of unauthorised debits to PPIs owing to customer negligence / PTPL negligence / system frauds / third party breaches, PTPLs need to clearly define the rights and obligations of customers in case of unauthorised payment transactions in specified scenarios. PTPLs shall formulate / revise their customer management policy, with approval of their Boards, to cover aspects of customer protection, including the mechanism of creating customer awareness on the risks and responsibilities involved in electronic payment transactions and customer liability in such cases of unauthorised electronic payment transactions. The policy must be transparent, non-discriminatory and should stipulate the mechanism of compensating the customers for the unauthorised electronic payment transactions and pre- scribe the timelines for effecting such compensation. PTPLs shall provide the details of their Board approved policy in regard to customers’ liability formulated in pursuance of the provisions of paragraph 15 and 16 of PPI MD, to all customers at the time of issuing the PPI. PTPLs shall display their Board approved policy, along with the details of grievance handling / escalation procedure, in public domain / website / app for wider dissemination
22.3.2 We will educate our customers quarterly for the security purpose for account handling, transactions, dos and don’ts.
22.4 Burden of proof
The burden of proving customer liability in case of unauthorised electronic paymenttransactions shall lie on the PTPL.
23. Reporting and monitoring requirements:
23.1 PTPLs shall put in place a suitable mechanism and structure for reporting of the customerliability cases to the Board or one of its Committees. The reporting shall, inter-alia, include volume / number of cases and the aggregate value involved and distribution across various categories of cases. The Board or one of its Committees shall periodically review the unauthorised electronic payment transactions reported by customers or otherwise, as also the action taken thereon, the functioning of the grievance redressal mechanism and take appropriate measures to improve the systems and procedures.
23.2 PTPL shall provide an option for the Wallet holder to generate / receive account statements for at least past 6 months. The account statement shall, at the minimum, provide de- tails such as date of transaction, debit / credit amount, net balance and description of trans- action. Additionally, the PTPL shall provide transaction history for at least 10 transactions.
23.3 In case of PPIs issued by banks, customers shall have recourse to the Banking OmbudsmanScheme for grievance redressal.
23.4 PTPLs shall report regarding the receipt of complaints and action taken status thereon inthe enclosed format on a Quarterly basis by the 10th of the following month to the respectiveRegional Office of DPSS, RBI. Banks shall submit the same report to DPSS, Mumbai Regional Office, RBI.
23.5 PTPL shall ensure transparency in pricing and the charge structure as under:
a. Ensure uniformity in charges at agent level.
b. Disclosure of charges for various types of transactions on its website, mobile app, agentlocations, etc.
c. Specific agreements with agents prohibiting them from charging any fee to the customersdirectly for services rendered by them on behalf of the PTPL.
d. Require each retail outlet / sub-agent to post a signage indicating their status as serviceproviders for the PPI issuer and the fees for all services available at the outlet.
e. The amount collected from the customer shall be acknowledged by issuing a receipt(printed or electronic).
23.6 PTPL shall be responsible for addressing all customer service aspects related to all PPIs(including co-branded PPIs) issued by them as well as their agents.
23.7 PTPL shall also display Frequently Asked Questions (FAQs) on their website / mobile apprelated to the PPIs.
24. Information System Audit
24.1 Authorised non-bank entities shall submit the System Audit Report, including cyber security audit conducted by CERT-IN empanelled auditors, within two months of the close of their financial year to the respective Regional Office of DPSS, RBI.
24.2 Banks shall also be guided by the RBI circular DBS.CO/CSITE/BC.11/33.01.001/2015-16onCyber Security Framework in Banks dated June 02, 2016, which inter alia, covers requirements for mobile-based applications.
24.3 The scope of the Audit shall include the following:
(a) Security controls shall be tested both for effectiveness of control design (Test of Design - ToD) and control operating effectiveness (Test of Operating Effectiveness - ToE).
(b) Technology deployed so as to ensure that the authorised payment system is being operated ina safe, secure, sound and efficient manner.
(c) Evaluation of the hardware structure, operating systems and critical applications, security and controls in place, including access controls on key applications, disaster recovery plans, training of personnel managing systems and applications, documentation, etc.
(d) Evaluating adequacy of Information Security Governance and processes of those which support payment systems.
(e) Compliance as per security best practices, specifically the application security lifecycle and patch / vulnerability and change management aspects for the authorised system and adherence to the process flow approved by RBI.
(f) Comment on the deviations, if any, in the processes followed from the process flow submitted to RBI while seeking authorisation.
24.4
PTPL shall, at the minimum, put in place following framework:
(a) Application Life Cycle Security: The source code audits shall be conducted by profession-ally competent personnel / service providers or have assurance from application providers / OEMs that the application is free from embedded malicious / fraudulent code.
(b) Security Operations Centre (SOC): Integration of system level (server), application level logs of mobile applications (PPIs) with SOC for centralised and co-ordinated monitoring and management of security related incidents.
(c) Anti-Phishing: PTPL shall subscribe to anti-phishing / anti-rouge app services from externalservice providers for identifying and taking down phishing websites / rouge applications in thewake of increase of rogue mobile apps / phishing attacks.
(d) Risk-based Transaction Monitoring: Risk-based transaction monitoring or surveillance process shall be implemented as part of fraud risk management system.
(e) Vendor Risk Management:
(i) PPI issuer shall enter into an agreement with the service provider that amongst others provides for right of audit / inspection by the regulators of the country;
(ii) RBI shall have access to all information resources (online / in person) that are consumedby PPI provider, to be made accessible to RBI officials when sought, though the infrastruc- ture / enabling resources may not physically be located in the premises of PPI provider;
(iii) PTPL shall adhere to the relevant legal and regulatory requirements relating to geo- graphical location of infrastructure and movement of data out of borders
(iv) PPI issuer shall review the security processes and controls being followed by service providers regularly.
(v) Service agreements of PTPL with provider shall include a security clause on disclosing the security breaches if any happening specific to issuer’s ICT infrastructure or process in- cluding not limited to software, application, and data as part of Security incident Manage- ment standards, etc
(vi) Disaster Recovery: PTPL have DR facility to achieve the Recovery Time Objective (RTO) / Recovery Point Objective (RPO) for the PPI system to recover rapidly from cyber- attacks / other incidents and safely resume critical operations aligned with RTO whileensuring security of processes and data is protected.
