Terms and Conditions

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These terms and conditions ("Terms of Use" or "Terms of Service" or "Terms") are a computer-generated electronic record published under Rule 3 of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (as amended from time to time) read with Information Technology Act, 2000 (as amended from time to time) and do not require any physical or digital signatures.

These Terms are legally binding and govern your use of the "24Pay Platform" created, owned, and operated by 24Pay Technolab Private Limited, a limited company incorporated under the laws of India, having registered office at H-187, Sector 63 Rd, Noida, Uttar Pradesh 201301 ("24Pay" or "Company"). Please read these Terms carefully before using the Platform and/or availing any of the Services provided by 24Pay through its Platform.

By accessing or using the Platform or Services, you agree to be bound by these Terms and 24Pay’s Privacy Policy. If you do not agree to be bound by these Terms and the Privacy Policy, you shall not use the Platform and Services in any manner whatsoever.

These Terms are in addition to and not in derogation of any other terms stipulated by 24Pay from time to time. In case of any conflict between these Terms and such other terms, these Terms shall prevail. Throughout these Terms, “we” and “our” shall refer to 24Pay and “you” and “your” shall refer to you, i.e., the User (defined below) of the Platform. Both 24Pay and the User are collectively referred to as “Parties” and individually referred to as “Party” hereof.

Notwithstanding anything contained elsewhere, 24Pay reserves the right to modify, alter, amend, revise these Terms, update the Platform and Services at any time, without prior notice, to improve your experience on the Platform and on account of changes in Applicable Law. It is strongly recommended that you visit the Platform periodically to review the latest and updated version of the Terms. If you do not agree with any changes made by us, you may stop using the Platform and Services. Your continued access or use of the Platform or Services after such modifications/updation shall constitute your acceptance of the modifications/updation.

ACCEPTANCE

These Terms were last updated on 10th April 2024. By accessing, signing-up and/or accepting or using the Platform or the Services in any manner whatsoever, you acknowledge that you have read these Terms and agree to be bound by them. You also acknowledge that you have read our Privacy Policy and agree to be bound by it. By accessing or using the Platform or Services, you represent that you have provided us with valid credentials which may be used to verify your identity. We reserve the right to restrict, suspend, or terminate your access to the Platform or Services, at any time without prior notice, if we believe that you are in breach of these Terms. For the security of your account and to enhance your overall experience on the Platform, we may use certain technologies to monitor your activities on the Platform. 24Pay reserves the right to make your details available to its affiliates and partner institutions and you may be contacted by them for information and sales enquiries through e-mail, telephone, and/or SMS. You agree to receive promotional materials and/or special offers from 24Pay its affiliates and partner institutions. These promotional materials and/or special offers will be consent based and you will have the option to unsubscribe.

ELIGIBILITY

You shall register or become a User of the Platform or Services only if you are 18 years or above, and can enter into legally binding contracts as per Applicable Law. To access/use the Platform or Services, you need a valid e-mail address and Indian mobile phone number. Users who have been previously suspended or removed from availing any of the Services shall not be eligible to access/use the Platform or Services at any time. Users shall not impersonate any person or entity, or falsely state or otherwise misrepresent identity, age, or affiliation with any person or entity and you may not have more than one active Account (defined below).

DEFINITIONS

For the purpose of these Terms including General Terms and Conditions, Digi Kendra Terms and Conditions, and Prepaid Card Terms and Conditions, the following words and phrases shall have the meaning assigned to them here in below.

  • “Account” shall have the same meaning as ascribed to it under Clause 1.2 of these Terms;
  • “Affiliate” shall mean and include any individual, entity, firm, body corporate, which directly or indirectly, controls, is controlled by, or is under common control with 24Pay;
  • “Applicable Law” shall mean and include (i) any law, statute, rule, regulation, order, circular, decree, directive, judgment, decision or other similar mandate of any applicable central, national, state or local governmental/regulatory authority having competent jurisdiction and force of law over, or applicable to you, 24Pay or the subject matter in question, as may be amended from time to time, and (ii) any notification, circular, directive or other similar instructions issued by a financial sector regulator including but not limited to the Reserve Bank of India (“RBI”) and/or rules, regulations, roles, responsibilities, and processes laid down by National Payments Corporation of India (“ NPCI ”) and other law enforcement agencies or regulatory authorities from time to time;
  • “Chargeback” shall mean and include reversal of any transaction made by Service Provider’s User on account of, including but not limited to:
  • Any alleged forgery of the User’s account, card, or other details pertaining to the transaction;
  • Any charge/debit made on Account or card that has been listed as a hot-listed card or otherwise listed on the card association warning bulletins; duplicate processing of the transaction; any amount required to be refunded due to denial of a transaction by the User/valid cardholder as wrongly charged payment/extra payment and/or; any fraudulent use/misuse of personal and financial information of the Service Provider’s User by any unauthorized person(s) and/or; any other reason as required/approved by the concerned banks, as the case may be;
  • “Confidential Information” shall mean and include any and all business, technical and financial information of 24Pay or of any of its Affiliates that is related to any of the arrangements contemplated in these Terms or any other document in which these Terms are incorporated by reference or otherwise disclosed by 24Pay to the User; any information which relates to its financial and/or business operations, including but not limited to, specifications, models, merchant lists/information samples, reports, forecasts, current or historical data, computer programs or documentation and all other technical, financial or business data, information related to its internal management, customers, products, services, anticipated products/services, processes, financial condition, employees, merchants, Intellectual Property (defined below), marketing strategies, experimental work, trade secrets, business plans, business proposals, customer contract terms and conditions, compensation/commission/service charges payable to the User, and other valuable confidential information and materials that are customarily treated as confidential or proprietary, whether or not specifically identified as confidential or proprietary;
  • “Effective Date” or “Registration Date” shall mean the date of registration of Account of the User on 24Pay’s platform.
  • “24Pay Platform or Platform” shall mean and include without limitation, 24Pay’s websites or web applications including
  • “Intellectual Property” shall mean all intellectual property used for the purpose of or in association with or in relation to the performance of these Terms and applicable agreement, and includes without limitation, (a) software, operating manuals, software code, program, instructions, specifications, processes, input methods, data or information used in relation to, or in association with, or for the operation of the software installed by 24pay, (b) patents, copyrights, designs, trademarks, service marks, trade names, business names, logos, symbols, styles, colour combinations used by 24pay during the course of its business and all depictions, derivations and representations, graphics, images, content, and the “look and feel” of all of the above (whether registered or not), (d) all information, data or material in whatever form, whether tangible or not, provided by 24pay to the User on the Platform; and (e) all techniques, formulae, patterns, compilations, processes, inventions, practices, methodology, techniques, improvement, utility model, procedures, designs, skills, technical information, notes, experimental results, service techniques, samples, specifications of the products or Services, labelling specifications, rights on software, and any other knowledge or know-how of any nature whatsoever.

KYC

“KYC” or “Know Your Customer” shall mean the process prescribed under the Applicable Law to collect and authenticate a User’s personal or business identification details before offering Services to the User;

SERVICES

“Services” shall mean the services provided, either directly or indirectly, by 24pay and/or any Service Provider to the User including, but not limited to, access and use of the Platform, banking services, non-banking services and other such services;

SERVICE PROVIDER

“Service Provider” shall mean any banking and/or non-banking entity with which 24pay has, directly or indirectly, executed an agreement for facilitating transactions between such entity and its customers;

USERS

“Users” shall mean and include individuals, body corporate, partnership, limited liability partnership, 24pay, merchants, etc., who accessing the Platform and/or using the Services.

GENERAL TERMS AND CONDITIONS

These General Terms and Conditions govern the User’s access and use of the Services.

INFORMATION SUPPLIED TO 24PAY

Users agree that the information provided by the Users to 24pay on registration and at all other times, including payment, shall be true, accurate, current, and complete. If you provide any information that is untrue, inaccurate, not updated or incomplete (or becomes untrue, inaccurate or incomplete), or 24pay has reasonable grounds to suspect that such information is untrue, inaccurate, not updated or incomplete, 24pay shall have the right to suspend or terminate your Account and/or refuse any and all current/future access/use of the Platform or Services or any portion thereof.

SECURITY OF ACCOUNT

Users’ mobile number, Permanent Account Number (“PAN”) and e-mail shall be used to identify their Account with 24pay through which Services shall be dispensed (“Account”). The User is recommended to choose a strong password and Personal Identification Number (“PIN”) to protect their Account. The User shall not share their password and PIN with anyone. Neither 24pay nor its Service Providers, under any circumstances, will ever ask for a User’s Account password, PIN or OTP or any other Confidential Information. If a User has any reason to believe that his/her Account is no longer secure, the User shall immediately change the Account password and PIN. In case the User is unable to secure his/her Account or has sufficient reason to believe that his/her Account might be compromised, the User shall inform 24pay promptly.

PRIVACY POLICY

All information collected from a User pursuant to provision of Services under these Terms is subject to 24pay’s Privacy Policy. By using our Platform and/or Services, you hereby consent to the use of your information as outlined in our Privacy Policy.

RECLAIMING INACTIVE ACCOUNTS

24pay reserves the right to reclaim an Account without any prior notice to the concerned User if the Account is found to be inactive. For the purpose of this clause, an Account is considered as inactive if the concerned User has not signed in and/or has not done any transaction(s) for more than three (3) consecutive months.

THIRD PARTY SITES, PRODUCTS AND SERVICES

24pay’s Services and/or Platform may include links or references to third-party websites or services solely for User’s convenience (“Reference Sites”). 24pay has no control over the Reference Sites and does not endorse any such Reference Sites or the information, materials, products, or services contained on or accessible through them. Correspondence or business dealings between Users and the concerned Reference Sites are solely between such User and the concerned Reference Site. Access and use of Reference Sites, including the information, materials, products, and services on or available through Reference Sites is solely at the concerned User’s own risk. You acknowledge and agree that 24pay shall not be liable, directly, or indirectly, for any loss or damage caused or alleged to be caused by your use of or reliance on any materials, products, and services on or available through Reference Sites.

COMMUNICATION POLICY

The User hereby accepts that:

24pay may send transactional or non-transactional business communication in the form of SMS or email or push notifications as part of its efforts to fulfil your request or service your Account. A User may continue to receive transactional and critical communication from 24pay even after opting out of marketing communications. You expressly waive any registration or preference made under DND/NCPR list under applicable TRAI regulations.

24pay will make the best efforts to provide notifications and it shall be deemed that the User shall have received the information sent from it during the course of, or in relation to, using the Platform or availing any Services. 24pay shall not be under any obligation to confirm the authenticity of the person(s) receiving the alert. The User shall not hold the Company liable for non-availability of any notification service in any manner whatsoever.

LIMITATION OF LIABILITY

In no event will 24pay or its directors, agents, officers, or employees be liable to a User for any special, indirect, incidental, consequential, punitive, or exemplary damages (including without limitation lost business opportunities, lost revenues, or loss of anticipated profits or loss of goodwill, or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever) of any kind arising out of or relating to:

  • these Terms or any other agreement entered between the User and 24pay;
  • The Services, Platform, or Reference Sites;
  • User’s use or inability to use the Services, Platform, or any Reference Sites, even if 24pay or its authorized representative has advised of the possibility of such inaccessibility;
  • Unauthorized access to or alterations or transmission of data, any material or data sent or received or not sent or received;
  • Any transaction(s) entered into by any third person or conduct of any other third-party or any infringement of another’s intellectual property rights;
  • The use of counterfeit or stolen cards, or stolen devices, or;
  • Fraudulent electronic transactions.
  • It shall be at the sole discretion of 24Pay to reverse any transaction subject to approval of the concerned Service Provider. Notwithstanding the above, if any court of law finds that 24Pay or its directors, officers, or employees, are liable to indemnify a concerned User despite the existence of this Clause 1.7, such liability shall not exceed the amount paid by the concerned User, if any, for using the portion of the Services or the Platform giving rise to such cause of action.
  • Users acknowledge and agree that 24Pay has offered its products and Services, set its prices, and entered into these Terms and applicable agreement in reliance upon the warranty, disclaimers, and the limitations of liability set forth herein.
  • Users acknowledge that the warranty, disclaimers, and the limitations of liability set forth herein reflect a reasonable and fair allocation of risk between Users and 24Pay, and that the warranty, disclaimers, and the limitations of liability set forth herein form an essential basis of the bargain between Users and 24Pay. 24Pay would not be able to provide the Services to Users on an economically reasonable basis without these limitations.
  • Users understand that 24Pay or the Service Providers may reject authentication and/or authorization of transaction placed by Users for any reason including but not limited to insufficient funds, incorrect authentication details provided, expired card/bank account, risk management, suspicion of Fraudulent Transaction (defined below), selling of restricted or banned items, use of compromised cards or bank account numbers, use of banned/blacklisted cards or bank account numbers, use of suspicious API or in accordance with Applicable Law.
  • Users further acknowledge that as a security measure 24Pay and/or the Service Providers may at their sole discretion, and in accordance with Applicable Law, permanently or temporarily, block any or all Services from any specific blocked or blacklisted group of IP addresses, devices, geographic locations and/or undertake any such risk mitigation measures as deemed necessary.
  • As a risk management tool, 24Pay and/or the Service Providers reserve the right to limit or restrict the transaction size, amount and/or monthly volume at any time. 24Pay considers various factors and such determination will be at its sole discretion.
    • FRAUDULENT TRANSACTIONS
  • If 24Pay identifies any unauthorized transaction and/or use case (“Fraudulent Transaction”), the User shall be notified by 24Pay. The User shall furnish documents and information pertaining to the transaction within one (1) day (or such other period specified by the bank).
  • The User agrees and acknowledges that:
  • If the User is unable to furnish relevant documents, or the bank is not satisfied with the documents furnished by the User, then the bank shall be entitled to order 24Pay to affect a reversal of the amount associated with the Fraudulent Transaction. 24Pay shall also be entitled to suspend the settlement of the amount under dispute or hold the value of transaction under dispute from following the settlement of the transaction during the pendency of inquiries, investigations, and resolution thereof by the Service Provider to the User.
  • If the amount in respect of the Fraudulent Transaction has already been settled to you pursuant to these Terms, any dispute arising in relation to the said Fraudulent Transaction, following settlement, shall be resolved in accordance with notifications, circulars and guidelines issued by the RBI in this regard from time to time.
  • The User also agrees and acknowledges that it shall be liable to pay fines, penalties and charges imposed by banks, card payment networks or any regulatory authority on account of transactions that are in violation of Applicable Law.
  • The User further agrees and acknowledges that following 24Pay incurring the charge stipulated in clause 1.8 (ii), if the available transaction amounts are insufficient for deduction of the Amount associated with the transaction, then 24Pay is entitled to issue a debit note seeking reimbursement of the amount from the User. The User shall reimburse the amount within three (3) working days of receipt of the debit note.
  • The Parties hereto agree that the User shall be solely liable for any payment instructions for transactions accepted by the User as per the Terms hereof which are subsequently disputed due to (a) authorization by the User of any Transaction with an amount exceeding the User’s account balance or credit limit, or (b) authorization by the User of a Fraudulent Transaction.
  • The User hereby acknowledges and agrees that 24Pay is a facilitator for payment processing services which are requested by the User. 24Pay shall not be responsible for any unauthorized transactions done by any person including a third-party which may cause infringement of such third-party’s rights or loss of any amounts claimed by the customers. Users shall be responsible to ensure due protection while transacting online or otherwise. 24Pay will assist the Users in settling any queries related to the Services that arise between the Users, and their customers. However, 24Pay shall bear no responsibility with respect to any dispute or query related to payment made to the Users by their customers.
  • You agree and acknowledge that 24Pay shall not be liable for any liability arising in respect of a Fraudulent Transaction whether it is domestic or international.
    • SECURITY OF YOUR ACCOUNT
  • While accessing/using the Platform and Services, Users shall comply with these Terms and Applicable Law including without limitation pertaining to data security and management, data storage, sharing and data protection, and shall ensure the same level of compliance by all its employees, agents, and representatives.
  • User confirms and certifies that it shall not engage in any act that violates Applicable Law. It shall also ensure that financial data or any other information of the customers received by the User are stored in a system only in India. This data shall include full end to end transaction details/information collected/carried/processed as part of the message/payment instructions. The User also acknowledges and agrees that the Account balance maintained by the Users on the Platform shall be non-interest bearing and shall be forfeited by 24Pay if found lying unused for more than three hundred and sixty-five (365) days.
  • User hereby grants and confirms the existence of the right of lien and set-off with 24Pay, which 24Pay may exercise at any time without prejudice to any of its specific rights under any other agreements with the User. 24Pay may at its sole discretion and without notice to User, utilize and/or appropriate any monies belonging to such User which are lying/deposited with 24Pay or due by 24Pay to such User and/or any balance monies lying and/or any monies deposited and/or any future receivables by way of deposit of the monies in the Account/wallet in order to recover funds for transactions which are incorrectly or erroneously processed.
  • 24Pay shall also be entitled to freeze operations of the Account of any User and/or exercise the right of lien and/or set-off with or without notice, if 24Pay is of the view and/or suspects any omission and/or commission of any act including but not limited to any malafides/ fraud/ mischief/ impersonation/ phishing/ hacking/ unauthorized access etc., for such period as it may deem fit until it has received to its satisfaction necessary clarifications as sought from the User and/or until it is convinced that operations in that Account can recommence. The User shall forthwith furnish all clarifications/information sought by 24Pay and 24Pay shall not be held responsible or liable for any losses, expenses, costs etc. suffered or incurred by the User by

TERMINATION

1. Termination by 24Pay 24Pay reserves the right to terminate or suspend your access to and use of the services, in whole or in part, at its sole discretion, with or without cause and without prior notice. Reasons for termination may include, but are not limited to:

Breach of Terms: Violation of any terms and conditions outlined in this agreement. Illegal or Improper Use: Engaging in activities that are illegal, fraudulent, or improper. Abuse of Services: Misuse or abuse of 24Pay's services or resources. Security Concerns: If there are security concerns related to your account or activities. Non-Payment: Failure to pay for services rendered as per the Payments and Billing Policy.

2. Effect of Termination Upon termination: Account Access: You will no longer have access to your account and associated services. Data and Content: Any data, content, or information associated with your account may be deleted or retained, as per 24Pay's data retention policies. Termination does not relieve you of any obligations or liabilities incurred before termination.

3. User Termination You may terminate your account and stop using 24Pay's services at any time. Termination by the user does not release them from any outstanding obligations or liabilities.

4. Survival of Terms Sections pertaining to Intellectual Property, Privacy, Payments and Billing, Disclaimer of Warranties, Limitation of Liability, and Governing Law and Dispute Resolution shall survive the termination of this agreement.