Terms & Conditions

We would like you to read these general terms of conditions (“Terms of Use” / “Terms of Service” / “Terms”) carefully, before you use our platform or any of its services (“Services”). These Terms are legally binding and govern the use of our website, our mobile application, our API and other properties collectively called as the “instantwalletpay Platform” or “Platform” created by instantwalletpay.com Limited, a company incorporated under the laws of UK, with its registered office at 107A Gaisford Street London, UK NW5 2EG (“instantwalletpay” or “Company”).

By signing-up to use the Platform, 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 signing up to use the Platform, you represent that you have provided us with valid identifying information which may be used to verify your identity. Please note that we may restrict, suspend, or terminate your access at any time to the Platform if we believe you have breached these Terms. We may use certain technologies to monitor your activities on the Platform.

We may modify these Terms or any other terms at any time by posting a revised version of the same at www.instantwalletpay.com on our website (“Website”), and the amended version of these Terms shall become automatically binding on you if you continue to avail the Services. The amended terms will be applicable even if not accepted by you separately. These Terms & Conditions were updated on Feb 2021. You shall have the responsibility to review these Terms on a regular basis. If you do not wish to be bound by the updated Terms, we request you to stop accessing the platform and the Services and to reach out to us to deactivate your User Account. Throughout this document, we use the terms “we” and “our” to refer to instantwalletpay and the terms “you” and “your” to refer to you, the User of the Platform. Both instantwalletpay and the User are collectively referred to as “Parties” and singularly referred to as “Party”.

If you are into a separate written agreement with the instantwalletpay, for any of its services these Terms shall be deemed to be incorporated into that agreement, whether it is specifically called out or not. When you access or use our Website and/or the Services, these Terms shall apply and shall be legally binding on you and to your access and use of the same even if not accepted by you separately.

ELIGIBILITY

instantwalletpay’s services are available to anyone having a valid UKn mobile phone number and an e-mail address. Users below the age of 18 years (“Minor(s)”) can use the Platform only with the permission and under the supervision of their legally appointed guardian (“Guardian”). Users who have been previously suspended or removed from availing any service by instantwalletpay shall not be eligible to avail services from instantwalletpay. Users shall not impersonate any person or entity, or falsely state or otherwise misrepresent identity, age or affiliation with any person or entity.

DEFINITIONS

For the purpose of these Terms of Use including General Terms and Conditions, Inclusive Banking Terms and Conditions and API Banking Terms and Conditions, the following words and phrases shall have the meaning assigned to them under this Article.

“Applicable Law” includes all applicable UKn statutes, enactments, acts of the state legislature or parliament, laws, ordinances, rules, bye-laws, regulations, notifications, guidelines, directions, directives and orders of any governmental authority, statutory authority, board, recognized stock exchange, as may be applicable including but not limited to Guidelines on Managing Risks and Code of Conduct in Outsourcing of Financial Services by Banks, Business Correspondent Guidelines issued by RBI from time to time, Payment & Settlement Systems Act, 2007, Aadhaar (Authentication) Regulations, 2016, Aadhaar (Data Security) Regulations, 2016, Aadhaar (Sharing of Information) Regulations, 2016 issued by UIDAI and rules made thereunder, Policy Guidelines on Issuance and operation of Pre-paid Payment Instruments in UK.

“Chargeback” shall mean and include reversal of any transaction made by Service Provider’s User inter alia, on account of, including but not limited to:

any alleged forgery of User’s account, card or other details;

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 transaction by the User / valid card holder as wrongly charged payment / extra payments and/or due to the fraudulent use / misuse of the personal and financial information of the Service Provider’s User by any unauthorized person and / or any other reason as required / approved by the concerned banks, as the case may be.

“Confidential Information” means and includes the Intellectual Property and any and all business, technical and financial information of instantwalletpay or of any of its affiliates that is related to any of the arrangements contemplated in these Terms of Use or any other document in which these Terms of Use are incorporated by reference or otherwise disclosed by instantwalletpay 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, 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.

“Credit” shall mean the payment made by the User to the Company to carry out transactions through the instantwalletpay platform.

“Effective Date or Registration date” shall mean the date of registration of account of the User on instantwalletpay’s platform.

“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 of Use 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 the Company, (b) the trademarks, service marks, trade names, business names, logos, symbols, styles, colour combinations used by the Company 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, (d) all information, data or material in whatever form, whether tangible or not, provided by the Company to the User during the course of Applicable Agreement; 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, labeling specifications, rights on software, and any other knowledge or know-how of any nature whatsoever.

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

“Services” shall mean the services provided by instantwalletpay and various Service Providers to the Users utilizing the instantwalletpay Platform including but not limited to banking services, non-banking services and other such services..

“Service Provider” shall mean any banking and/or non-banking entity with which instantwalletpay has, directly or indirectly, executed an agreement for facilitating Transactions between such entity and its Customers.

“Users” shall mean and include individuals or corporate entities who are accessing & availing instantwalletpay services through instantwalletpay platform either directly or indirectly.

1. GENERAL TERMS AND CONDITIONS

These General Terms and Conditions govern the User’s access to the Services provided by instantwalletpay:

INFORMATION SUPPLIED TO instantwalletpay. Users agree that the information provided by the Users to instantwalletpay on registration and at all other times, including payment, is true, accurate, current, and complete.

SECURITY OF ACCOUNT. Users’ mobile number and email identifies a Users’ account with instantwalletpay through which instantwalletpay services are dispensed (“Account”). instantwalletpay encourages Users to choose a strong password to protect their Account. It is advised that Users do not share their password with anyone or write it down. Neither instantwalletpay nor its Service Providers, under any circumstances, will ever ask for a User's Account password or any other confidential information. If a User has any reason to believe that his Account is no longer secure, then the User shall immediately change the Account password and indemnify instantwalletpay from any liabilities that may arise from the misuse of such User’s Account.

PRIVACY POLICY. All information collected from a User pursuant to provision of instantwalletpay’s services during the performance of these Terms of Use or Applicable Agreement, is subject to instantwalletpay’s Privacy Policy.

RECLAIMING INACTIVE ACCOUNTS. If an Account is found to be overly inactive, the Account may be reclaimed by instantwalletpay without providing notice to the concerned User. An Account is considered as inactive if the concerned User is not signing in and/or has not done any transactions for more than 6 consecutive months.

THIRD PARTY SITES, PRODUCTS AND SERVICES. instantwalletpay’s services and/or the Site may include links or references to other web sites or services solely for the Users’ convenience (“Reference Sites”). instantwalletpay does not endorse any such Reference Sites or the information, materials, products, or services contained on or accessible through Reference Sites. Correspondence or business dealings between Users and 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.

COMMUNICATION POLICY. The User hereby accepts that:

instantwalletpay 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 the User’s request or service your account. A User may continue to receive all such communication from instantwalletpay even after opting out of marketing communications.

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

LIMITATION OF LIABILITY. In no event will instantwalletpay 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 any other pecuniary or non-pecuniary loss or damage of any nature whatsoever) of any kind arising out of or relating to (i) this Terms of Use or any other agreement entered by a User with instantwalletpay, (ii) instantwalletpay’s services, the Site or any Reference site, or (iii) User’s use or inability to use instantwalletpay’s services, the Site or any Reference Sites, even if instantwalletpay or a instantwalletpay authorized representative has advised of the possibility of such damages, (iv) unauthorized access to or alterations of transmissions or data, any material or data sent or received or not sent or received, (v) any transactions entered into by any third person or conduct of any other third party or any infringement of another’s rights, (vi) the use of counterfeit or stolen cards, or stolen devices, or (vii) fraudulent electronic transactions. It shall be at the sole discretion of instantwalletpay to reverse any transaction subject to approval of the concerned Service Provider. Notwithstanding the above, if any court of law finds that instantwalletpay 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 instantwalletpay’s services or the Site giving rise to the cause of action. Users acknowledge and agree that instantwalletpay has offered its products and services, set its prices, and entered into these Terms of Use 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 instantwalletpay, and that the warranty, disclaimers, and the limitations of liability set forth herein form an essential basis of the bargain between Users and instantwalletpay. instantwalletpay would not be able to provide the services to Users on an economically reasonable basis without these limitations.

FRAUDULENT TRANSACTIONS

If instantwalletpay is intimated, by the bank, that a Customer has reported an unauthorized debit/chargeback of the Customer’s Payment Instrument (“Fraudulent Transaction”), User shall be notified by the instantwalletpay. The User shall be entitled to furnish documents and information pertaining to the Transaction associated with the Chargeback within five (5) days (or such other period specified by the bank). The User agrees and acknowledges that (i) if the User is unable to furnish Chargeback Documents (ii) the bank is not satisfied with the Chargeback documents furnished by the User, then the bank shall be entitled to order the instantwalletpay to effect a reversal of the debit of the Chargeback Amount associated with the Chargeback such that the said chargeback amount is credited to the Customer’s Payment Instrument. instantwalletpay shall also be entitled to suspend the settlement of the amount under dispute or hold the value of transaction under dispute from the following settlement of the transaction during the pendency of inquiries, investigations and resolution thereof by the Service Providers to the User.

Pursuant to clause 1.8 (i) above, if the amount in respect of the Fraudulent Transaction has already been settled to the User, any dispute arising in relation to the said Fraudulent Transaction, shall be resolved in accordance with the RBI’s notifications, circulars and guidelines issued in this regard from time to time.

The User also agrees and acknowledges that it is liable to pay fines, penalties and charges imposed by the 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 instantwalletpay.com curring the charge stipulated in clause 1.8(iii), if the available Transaction Amounts are insufficient for deduction of the Chargeback Amount, then instantwalletpay is entitled to issue a debit note seeking reimbursement of the Chargeback Amount from the User. The User shall reimburse the Chargeback Amount within three (3) working days of receipt of the debit note.

The Parties hereto agree that any payment instructions for Transactions accepted by the User as per the terms hereof which are subsequently disputed due to (a) the authorization by the User of any Transaction with an amount exceeding the User’s account balance or credit limit, or (b) the authorization by the User of a fraudulent Transaction, shall always be the liability and responsibility of User.

The User hereby acknowledges and agrees that instantwalletpay is a facilitator for payment processing services which are requested and authorized by Users and instantwalletpay shall not be responsible for any unauthorized transaction done by any person including third party and amounting to infringement of another’s rights or any chargebacks claimed by the Customers. It will be the responsibility of Users to ensure due protection while transacting online or otherwise. instantwalletpay will assist the Users in settling any queries related to the Services that arise between the Users, and its Customers. However, instantwalletpay shall bear no responsibility with respect to the dispute or query related to payment made by the Customers to the Users.

SECURITY OF YOUR ACCOUNT.

The User shall comply with the provisions contained in the Information Technology Act, 2000 and the statutory rules framed there under, from time to time, in so far as the same has application to its operations in accordance with these Terms of Use, and also with all other Laws, rules and regulations, whether already in force or which may be enacted from time to time, pertaining to data security and management, data storage, sharing and data protection, and various rules, regulation and provisions as may be applicable, as and when the same is enacted into a law and comes into force, and shall ensure the same level of compliance by all its employees.

The User confirms and certifies that it shall not engage in any act that violate any laws and regulations. It shall also ensure that the financial data or any other information of the Customers received by the User are stored in a system only in UK. This data shall include full end to end transaction details/information collected/carried/processed as part of the message/payment instructions.

USER’S REPRESENTATIONS AND WARRANTIES. The User represents and warrants that:

it shall immediately intimate instantwalletpay of any violation or potential violation of these Terms of Use or of other circumstances that may cause damage to the goodwill and reputation of instantwalletpay,

it shall be responsible to obtain any and all consents and approvals that are required from regulatory or governmental authorities, including any consent from Customers required to transfer data to the User and/or the instantwalletpay Platform, as the case may be, in accordance with Applicable Law,

All costs associated with purchasing of software licenses and hardware (if any) are to be absolutely and unconditionally borne by the User,

it shall be solely responsible for and hereby undertakes to strictly comply with Privacy Policy, and Applicable Law having jurisdiction in any manner whatsoever in connection with discharge of its duties under the Applicable Agreement, including but not limited to data protection, security, piracy, and directions issued by the Reserve Bank of UK relating to payment data, and shall obtain and maintain in full force and effect all registrations required under Applicable Law for the operation of the business in terms of the Applicable Agreement, and

it shall not access (or attempt to access) the website and the Products by any means other than through the interface that is provided by instantwalletpay. It shall not use any deep-link, page scrape, robot, spider or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to access, acquire, copy or monitor any portion of the instantwalletpay Platform, or in any way reproduce or circumvent the navigational structure or presentation of the platform, without instantwalletpay’s express prior written consent.

it shall not attempt to gain unauthorized access to any portion or feature of the Platform, or any other systems or networks connected to the Platform or to any server, computer, network, or to any of the services offered on or through the Platform, by hacking, password "mining" or any other illegitimate means.

INDEMNIFICATION. (A) User agrees to indemnify, save, and hold instantwalletpay, its affiliates, contractors, employees, officers, directors, agents and its third-party suppliers, licensors, and partners harmless from any and all claims, demands, actions, suits which may be threatened or brought against instantwalletpay, and also against all losses, damages, liabilities, costs, charges and expenses, including without limitation, legal fees and expenses arising out of or related to:

Users’ use or misuse of instantwalletpay’s services or of the Site/application,

any violation by the User of Terms of Use or Applicable Agreement,

any breach of representations, warranties and covenants made by the User in these Terms of Use, or Applicable Agreement,

any claim or legal notice or quasi-legal proceedings to which instantwalletpay may be required to become party or to which instantwalletpay may be subjected by any person including any governmental authority, by reason of breach of any Applicable Law,

due to failure of a User to obtain any required statutory or regulatory approval necessary for the performance of its obligations in the Applicable Agreement with instantwalletpay,

all liability, claims, damages, costs, expenses suffered or incurred by instantwalletpay as a result of any act or violation by User under Section 269ST of the Income Tax Act, 1961 while acting as collection agent of the Company

instantwalletpay reserves the right, at User’s expense, to assume the exclusive defense and control of any matter, including rights to settle, for which concerned User is required to indemnify instantwalletpay. The User agrees to cooperate with instantwalletpay’s defense and settlement of these claims. instantwalletpay will use reasonable efforts to notify concerned the User of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it.

DISCLAIMER To the fullest extent permissible pursuant to Applicable Law, instantwalletpay and its officers, directors, employees, and agents disclaim all warranties, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, and non-infringement of proprietary rights. No advice or information, whether oral or written, obtained by a User from instantwalletpay or through instantwalletpay’s services or the Site will create any warranty not expressly stated herein. instantwalletpay does not authorize anyone to make any warranty on its behalf and Users should not rely on any such statement. Users acknowledge that instantwalletpay is a reseller and is not liable for any third-party seller’s obligations. It is User’s responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, merchandise and other information provided through the Site or on the internet generally. instantwalletpay does not warrant that its services will be uninterrupted, or free of errors, viruses or other harmful components, and that any of the foregoing defects will be corrected. instantwalletpay’s services and the Site and any data, information, third party software, Reference Sites, or Software made available in conjunction with or through its 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. instantwalletpay and its third-party suppliers, licensors, and partners do not warrant or make any representations regarding the use or the results of the use of instantwalletpay’s services, the Site or any Reference Sites in terms of correctness, accuracy, reliability, or otherwise.

INTELLECTUAL PROPERTY.

instantwalletpay’s services and the Site are owned and operated by instantwalletpay and/or third-party licensors. The visual interfaces, graphics, design, compilation, information, computer code (including source code and object code), products, software, services, and all other elements of instantwalletpay’s services and the Site provided by instantwalletpay (the “Materials”) are protected by Applicable Law. As between User and instantwalletpay, all Materials and instantwalletpay’s Intellectual Property are the property of instantwalletpay and/or third-party licensors or suppliers. User agrees not to remove, obscure, or alter instantwalletpay or any third party's copyright, patent, trademark, or other proprietary rights notices affixed to or contained within or accessed in conjunction with or through instantwalletpay’s services. Except as expressly authorized by instantwalletpay, the User agrees not to sell, license, distribute, copy, modify, publicly perform or display, transmit, publish, edit, adapt, create derivative works from, or otherwise make unauthorized use of the Materials or instantwalletpay’s Intellectual Property. Parties do not accrue any rights or interest in the other Party’s Intellectual Property and use of any Intellectual Property by either User or instantwalletpay shall be strictly in for the fulfillment of and in compliance with the terms of the agreement between such User and instantwalletpay. Parties undertake that they shall not, nor will they allow others to, reverse engineer or disassemble any parts of the other’s Intellectual Property. If Users’ have comments regarding instantwalletpay's services and the Site or ideas on how to improve it, please contact our Helpdesk. Please note that by doing so, concerned User hereby irrevocably assign to instantwalletpay, and shall assign to instantwalletpay, all right, title and interest in and to all ideas and suggestions and any and all worldwide intellectual property rights associated therewith. The concerned User agrees to perform such acts and execute such documents as may be reasonably necessary to perfect the foregoing rights.

The User undertakes that:

they shall use the Intellectual Property solely for discharge of their duties under the Applicable Agreement,

they shall use Intellectual Property of other party only in the form and manner stipulated by such other party,

they shall seek prior written consent from other party for use of such party’s Intellectual Property which is not previously provided for by such Party,

they shall bring to other party’s notice all cases concerning such party’s Intellectual Property’s (a) infringement, (b) passing off, (c) registration, or (d) attempted registration,

they shall render to other party all assistance in connection with any matter pertaining to the protection of such party’s Intellectual Property whether in courts, before administrative agencies, or otherwise,

they shall refrain from taking any action which shall or may impair other party’s right, title or interest in the Intellectual Property, or create any right, title or interest therein or thereto, adverse to that of the other party,

they shall not use or permit to be used the Intellectual Property by any unauthorized person, and

they shall not misuse the Intellectual Property or use it together with any other mark or marks.

CONFIDENTIALITY.

The User shall keep Confidential Information as confidential. The User confirms that it shall protect Confidential Information with such security, confidentiality and degree of utmost care as it would prudently apply to its own confidential information and use it solely in connection with the transaction to which the Confidential Information relates. The User acknowledges and agrees that it is aware of the sensitivity & secrecy involved in keeping the customer data/information and transaction records and shall ensure that neither the User nor their employees, directors etc. will do any act to violate the same. Notwithstanding anything contained in this Clause 1.15, Confidential Information shall exclude any information:

which is already in the possession of the receiving Party and not subject to any other duty of confidentiality,

that is at the date hereof, or subsequently becomes, public otherwise than by reason of a breach by the receiving Party of these Terms of Use,

Information that becomes legally available to the receiving Party and/or its affiliates or professional advisors on a non-confidential basis from any third party, the disclosure of which does not, to the knowledge of that Party, violate any contractual or legal obligation which such third party has to the other Party with respect to such information, and

Information that is independently acquired or developed by the receiving Party and/or its affiliates or professional advisors.

The User hereby agrees that it shall not disclose any Confidential Information received by it without the prior written consent of the Company to any third party at any time. Provided however, that either Party may make the following disclosures for which no consent shall be required from the other Party:

Disclosures to its directors, officers, employees, affiliates/subsidiaries/group/holding companies, third party service providers and any employees thereof that it reasonable determines need to receive the Confidential Information;

Disclosures to its legal and other professional advisers, instructed by it that it reasonably determines need to receive the Confidential Information; or

Disclosures to any person to whom it is required by law or any applicable regulatory, supervisory, judicial or governmental order, to disclose such information, or at the request of any regulatory or supervisory or judicial or government authority.

GOVERNING LAW . This Terms of Use shall be governed by and construed in accordance with the laws of UK, without regard to its conflict of law provisions and the exclusive jurisdiction of competent courts in New Delhi, UK.

FORCE MAJEURE . instantwalletpay shall not be liable for failure to perform its obligations under these Terms of Use to the extent such failure is due to causes beyond its reasonable control. In the event of a force majeure, the Company if unable to perform shall notify the User in writing of the events creating the force majeure and the performance obligations of the Company will be extended by a period of time equal to the length of the delay caused by force majeure; provided that if any such delay exceeds ninety days, then following such ninety day period, either Party hereto may terminate the unperformed portions of these Terms of Use on ten days prior written notice to the other Party. For the purposes of these Terms of Use, force majeure events shall include, but not be limited to, acts of God, failures or disruptions, orders or restrictions, war or warlike conditions, hostilities, sanctions, mobilizations, blockades, embargoes, detentions, revolutions, riots, looting, strikes, stoppages of labor, lockouts or other labor troubles, earthquakes, fires or accidents and epidemics.

MISCELLANEOUS .

SEVERABILITY. If any provision of this Terms of Use is held to be unlawful, void, invalid or otherwise unenforceable, then that provision will be limited or eliminated from this Terms of Use to the minimum extent required, and the remaining provisions will remain valid and enforceable.

ASSIGNMENT. These Terms of Use and any rights granted hereunder, shall not be assignable by the User, but may be assigned by instantwalletpay without restriction. Any assignment attempted to be made in violation of this provision shall be void and of no effect.

HEADINGS. The heading references herein are for convenience purposes only, do not constitute a part of these Terms of Use, and will not be deemed to limit or affect any of the provisions hereof.

NOTICE. instantwalletpay may provide Users with notices and communications by email, regular mail, or posts on the instantwalletpay website, www.instantwalletpay.com or by any other reasonable means. Except as otherwise set forth herein, notice to instantwalletpay must be sent by courier or registered post to the Legal Department, instantwalletpay.com Limited, 1st Floor, 107A Gaisford Street London, UK NW5 2EG

WAIVER. The failure of instantwalletpay to exercise or enforce any right or provision of these Terms of Use will not constitute a waiver of such right or provision. Any waiver of any provision of these Terms of Use will be effective only if in writing and signed by instantwalletpay.

RELATIONSHIP BETWEEN THE PARTIES. The Terms of Use are not intended by the Parties to constitute or create a joint venture, pooling arrangement, partnership, agency or formal business organization of any kind. instantwalletpay and the User shall be independent contractors with each other for all purposes at all times and neither Party shall act as or hold itself out as an agent or representative of the other Party nor shall create or attempt to create liabilities for the other Party by acting or holding itself out as such.

GRIEVANCE REDRESSAL: Any complaint, dispute, grievance can be addressed to instantwalletpay through its Customer Service in accordance with its Grievance Policy.

Privacy Policy

instantwalletpay.com Limited (“instantwalletpay”, “we”, “us”, “our”), respects every individual’s right to privacy and it is our endeavour to protect their personal and Sensitive personal data or information (defined below).

This Privacy Policy (“Policy”) applies to all visitors (i.e. those who do not have an Account with instantwalletpay) and users (i.e. those who have an Account with instantwalletpay) (collectively referred to as “User”) who share their personal and Sensitive personal data with us, while visiting, accessing, browsing and using our website and mobile application (collectively referred to as “Website”). The purpose of this Policy is to inform Users regarding collection, use, storage, transfer and disclosure of their data. Before submitting any information to us, please carefully read this Policy to understand how we shall treat your information.

The User acknowledges that this Policy is a part of instantwalletpay’s Terms & Conditions available at Terms & Conditions and all terms defined in the Terms of Use have the same meaning here in this Policy. Access, browsing and continuous use of the Website constitutes the User’s unconditional consent to this Policy read together with the Terms of Use. If the User does not agree with the terms of this Policy, please do not visit and use our Website. This Policy can be easily accessed at various places on our Website, including but not limited to when Users create an account with us on our Website.

instantwalletpay reserves its right to modify, alter, and update this Policy at any time, with or without prior notice. Although, Users shall be notified of material changes through their registered email address or any other mode of communication available with us, it is advised that they consult this Policy regularly to be updated about the changes. If a User continues to use or avail the services of the Website after any modification, amendment, alteration or change of this Policy, irrespective of whether notice was sent to the User or published on the Website, such User is hereby deemed to provide consent to this Policy and instantwalletpay’s other Policies and practices existing at the time of visiting, accessing and/or using the Website.

This Policy is published in compliance of:

Section 43A of the Information Technology Act, 2000 (“Act”)

Regulation 4 of the Information Technology (Reasonable Security Practices and Procedures and Sensitive Personal Information) Rules, 2011 (“SPI Rules”)

Definitions

Personal Information

SPI Rules define “Personal Information” as any information that relates to a natural person, which, either directly or indirectly, in combination with other information available or likely to be available with a body corporate, is capable of identifying such person. Such information includes name, address, mobile number, etc.

Sensitive personal data or information

SPI Rules define “Sensitive personal data or information” of a person as personal information which consists of information relating to:

passwords;

financial information such as bank accounts or credit card or debit card or other payment instrument details;

physical, physiological and mental health condition;

sexual orientation;

medical records and history;

biometric information;

any of the information received under above clauses by body corporate for processing or storage under lawful contract or otherwise.

Information which is freely available in the public domain or furnished under the Right to Information Act, 2005 or any other law shall not be regarded as sensitive personal data or information.

Payment Data

“Payment Data” is defined as end-to-end transaction details and information pertaining to payment or settlement transaction that is gathered / transmitted / processed as part of a payment message / instruction. Payment Data includes - Customer data (Name, Mobile Number, email, Aadhaar Number, PAN number, etc. as applicable); Payment sensitive data (customer and beneficiary account details); Payment Credentials (OTP, PIN, Passwords, etc.); and, Transaction data (originating & destination system information, transaction reference, timestamp, amount, etc.).

Consent for collection of Personal Information

Users provide their consent to the use, disclosure, storage, possession, receiving, dealing or handling of their Personal Information by accessing, browsing, or availing services on the Website.

In accordance with Rule 5 of SPI Rules, Users provide their specific consent to the use, disclosure, storage, possession, receiving, dealing or handling of their Sensitive personal data or information for lawful purposes enumerated in this policy through checking the box affirming such consent appearing at the time of creation of their Account on the Website.

instantwalletpay presumes adequate and lawful parental consent in case the Personal Information or Sensitive personal data or information is shared by a User under the age of 18 years.

Types of information we collect

The Users who access and use our Website are required to submit certain Personal Information and Sensitive personal data or information for creating an Account, entering into transactions with us and obtaining customer support services. Personal Information and Sensitive personal data or information which may be collected by us includes:

full name and age;

username and password;

PAN;

password of User’s account registered with us;

postal address;

E-mail address;

mobile number;

internet protocol (IP) addresses (through cookies);

URL of website accessed prior to and post Users’ accessing our Website;

credit/debit card number, credit/debit card expiration date and/or other payment instrument details;

User’s feedback, queries, e-mails, letters, suggestions provided to us;

third party information about concerned User’s activities or postings on the Website;

Information about the mobile/tab device the App is installed on or mobile device identifier.

any other information relevant for accessing and using our Website as maybe required by us.

Purpose of collection

We shall collect your Personal Information or Sensitive personal data or information only for specific, clear and lawful purposes. These include:

to give the User a safe, efficient, smooth and personalised experience while using our Website;

to improve our services and products;

to respond to your queries or complaints generally related to our services, etc;

to send promotional emails containing information about our existing and new products/services, newsletters, notify changes in this Policy or other policies etc;

to analyse the traffic on our Website and conduct market research regarding users’ demographics, interests, and behaviour;

to create new products and services;

to provide customer support services;

to detect, prevent and address error, fraud, criminal activity, abuse of our services and technical issues;

to enforce Terms of Conditions;

to provide co-branded services in affiliation with more than one corporate entity;

other such lawful purposes as described at the time of collection of Personal Information or Sensitive personal data or information.

How information is collected

We collect information which the User voluntarily provides us at the time of visiting, accessing, browsing and using our Website, our social media profiles, and customer support service. We also collect data automatically by analysing your online behaviour (through cookies).

The User has an option to not provide us with certain information or withdraw consent to provide certain information at any time, in accordance with the terms of this Policy. In case consent is withdrawn, we shall retain your Personal Information or Sensitive personal data or information for a period deemed appropriate by us or as mandated by law. On revoking of your consent, we reserve the right to limit access to the various features and services provided on the Website.

Disclosure of information

You expressly consent to and authorize us to share your Personal Information and Sensitive personal data or information with our trusted affiliates and any other third party, to the extent and for the lawful purposes as stated in this Policy. We shall not disclose any Personal Information or Sensitive personal data or information to any government institution or authority, except where such disclosure is (i) obligated by law, (ii) requested by a lawfully authorized government authority, (iii) pursuant to a judicial decree, (iv) for enforcing and protecting the legal rights of instantwalletpay or others’, (v) for seeking any relief, (vi) for defending any charge, (vii) for opposing any claim, (viii) for enforcing this Policy or our Terms of Use, (ix) for obtaining any legal advice. We also reserve our right to disclose, share or transfer your Personal Information or Sensitive personal data or information to a third party due to any change in ownership, merger, restructuring or sale of our business assets.

Use of cookies and other technologies

To improve the effectiveness and usability of the Website for our Users, we use “cookies”, or similar technology to collect information and assign each visitor a unique random number called as a User Identification (User ID) in order to understand the User's individual interests. Our web servers automatically collect limited information about the User’s computer connection to the Internet, including User’s IP address, when the User visits the Website (User’s IP address is a number that lets computers connected to the internet know where to send data to the User such as the web pages viewed by the User).

Users may encounter “cookies” or other similar devices on certain pages of the Website that are placed by third parties. We do not control the use of cookies by third parties and disclaim any obligation or liability associated thereto.

Links to other websites

The Website provides links to other websites which may or may not collect information about the User. The User acknowledges that this Policy does not cover the collection and use of information by such sites and that we shall not be responsible for the privacy policies, practices or content of the linked websites.

Correction and updation of information

The User shall promptly notify us in case any Personal Information or Sensitive personal data or information supplied by such User as maintained in our records is inaccurate, misleading or incomplete. Further, the User may also review, update or modify the information by logging into their Account on the Website. We shall not be responsible for the authenticity of Personal Information or Sensitive personal data or information supplied by a User.

Retention of information

Your Personal Information and Sensitive personal data or information may be retained and used until: (i) the relevant purposes for the use of your information described in this Policy are no longer applicable; and (ii) we are no longer required by applicable law, regulations, contractual obligations or legitimate business purposes to retain your information; and (iii) the retention of your information is not required for the establishment, exercise or defense of any legal claim.

Mailers

instantwalletpay may send direct mailers to the User at the email address given by the User. The User has the option to opt-out of this direct mailer by way of links provided at the bottom of each mailer or any other means as instantwalletpay deems appropriate. instantwalletpay respects every User’s privacy and in the event that User chooses to not receive such mailers, instantwalletpay will take all steps to remove the User from the list. If a User wants to remove his/her/it’s contact information from all mailing lists and newsletters, the same can be done through “Profile” page of his/her/it’s account with instantwalletpay.

Advertising

We use third-party advertising companies to serve ads when you visit our Website. These companies may use your anonymized information (i.e. information which does not include your name, address, email address or mobile number) in order to provide advertisements about goods and services of interest to you. Such anonymized information is usually in the form of aggregated statistics on traffic to various pages within our Website.

Data Localization

In compliance with Reserve Bank of UK’s circular RBI/2017-18/153 DPSS.CO.ODNo.2785/06.08.005/2017-2018 dated April 6, 2018, all Users, including system participants, service providers, intermediaries, payment gateways, third party vendors and other entities in the payments ecosystem, who are retained or engaged by instantwalletpay for providing payment services shall mandatorily store entire Payment Data in systems located only in UK. Notwithstanding the above, for cross border transaction data, consisting of a foreign component and a domestic component, a copy of the domestic component may also be stored abroad, if required.

How we secure the information

The Website has put stringent security measures necessary to prevent misuse, unauthorised access, modification, disclosure or destruction of your Personal Information and Sensitive personal data or information in our control. All information collected by us is stored on servers secured behind a firewall; such servers are password-protected and access is strictly limited based on need-to-know basis.

We may undertake periodic review of our security safeguards and this Policy to incorporate such future changes as may be appropriate to ensure that integrity of your Personal Information and Sensitive personal data or information is intact. In case of any security breach which is likely to cause harm to the User, we shall notify the User of such breach as soon as practicable and take necessary measures to remedy the breach or mitigate any immediate harm.

If you seek any clarifications regarding this Policy or wish to raise any issue or grievance with respect to illegal access, use or disclosure of Personal Information, please e-mail at [email protected]

We shall attempt to resolve any issues within a period of thirty (30) days from the date of receipt of the question, concern, grievance or report.

Grievance Policy

instantwalletpay believes that excellence in customer service is an important imperative for sustained business growth. As a service organization, customer service and customer satisfaction are our prime focus. Our goal is to ensure that our customers receive exemplary service across all our touch points. This policy encompasses a structured grievance redressal mechanism and a framework for addressing customer grievances/complaints.

instantwalletpay will treat the customers in a transparent and fair manner, and will deal with customer complaints with courtesy and in a timely manner.

Redressal Mechanism for grievances:

The customer can contact the below mentioned two levels for effective resolution of their complaints:

Level	Response Time	Description	Contact details
Level 1	Less than 24 hours	24x7 Customer Service	[email protected]
Level 2	Less than 48 hours	Manager - Customer Service	[email protected]

If customer’s issue is not resolved even after contacting the above complaint resolution channels, or in the timelines mentioned above or the customer is not satisfied with the response, the Complaint may be escalated to the Nodal officer at:

Level	Response Time	Description	Contact details
Level 3	Less than 72 hours	Nodal Officer	[email protected]

Report a Fraud:

In case of any fraudulent or unauthorised transaction the customer can directly report to [email protected] or can call the helpline no. 011-40849944.

T&Cs - Prepaid Cards

These Terms and Conditions (hereinafter referred to as “T&Cs” or Terms) in addition to the General Terms and Conditions as set out above are applicable to the usage of the “instantwalletpay Prepaid Cards”. We would like you to read these T&Cs thoroughly prior to the usage of the instantwalletpay Prepaid Card as these Terms are legally binding. The instantwalletpay Prepaid Card is issued by instantwalletpay.com Limited, a company incorporated under the laws of UK, with its registered office at 107A Gaisford Street London, UK NW5 2EG (“instantwalletpay”) in association with its banking partner(s) (“Bank”).

Definitions

Prepaid Payment Instrument (“PPI”): PPIs (“Prepaid Card” or “Account” or “Wallet”) are payment instruments that facilitate purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments.

Know your Customer (“KYC”): KYC shall mean Know Your Customer guidelines adopted by the Bank for the purpose of identification and verification of the Customer, pursuant to the guidelines, circular and notifications, issued by the Reserve Bank of UK, from time to time.

Personal Identification Number (“PIN”): PIN is a numeric password which is part of the kit handed over to the customer by the bank while issuing the PPI.

Holder or Customer: Individuals or organizations who obtain or purchase these PPIs and use the same for purchase of goods and services, including financial services, remittance facilities etc. against the value stored on such instruments.

Obligation of the Customer who purchases Prepaid Payment Instrument:

Prepaid Instrument (PPI) shall be issued to a Customer at the sole discretion of the Bank post complying with “Know Your Customer” guidelines.

instantwalletpay shall levy a fee for issuance/usage of the PPI as per Schedule of Charges communicated by instantwalletpay to the Customer from time to time on its website.

The Bank shall issue a PIN to the Customer wherever applicable for operating the PPI. The Customer shall take reasonable precaution to prevent misuse of the PIN. The Customer shall be solely responsible for any consequences arising directly or indirectly out of the disclosure of the PIN and/or unauthorized use of PPI as a result of any misuse for want of reasonable care and precaution. The Customer disclaims liability of instantwalletpay or the Bank for any unauthorized use of PPI and for any loss or damage incurred directly or indirectly as a result of such misuse.

The Customer shall be responsible for the safe custody of the PPI. In case of loss or theft or misuse of the PPI, the Customer shall immediately block the PPI from the instantwalletpay web or mobile application or inform any of the branch/customer service of the Bank. The Customer shall be responsible and liable for all unauthorized transactions till the time the customer reports the unauthorized transaction to the Bank. A new PPI shall be issued to the Customer, in lieu of lost/stolen one upon request placed through the instantwalletpay web or mobile application and payment of applicable fee as per the Schedule of Charges.

The PPI can be used at any of the ATMs for permitted transactions depending on the type and features of the PPI. The charge slip dispensed by the ATM during usage of the PPI shall not be construed as an evidence of the transaction. The records of transactions maintained by the Bank shall be conclusive and binding for all purposes.

The Bank shall not pay any interest on the balance outstanding in the PPI at any point in time.

The Bank will intimate the Customer through a SMS or Email on the registered mobile number, 45 days prior to expiry of validity period of the PPI. Customer needs to utilize the balance amount prior to expiry of the instrument. In case Customer does not utilize the balance amount within the validity period, the Customer can approach the bank for refund or transfer of outstanding balance. In case the Customer does not approach the bank within a specified period as prescribed by the regulator, the outstanding balance will be transferred to a fund in compliance with the regulatory guidelines.

Any claim for compensation made by the customer shall be settled purely as per the provisions of the Compensation Policy of the Bank.

All card holders will be covered under Customer liability policy of the Bank. For more details on customer liability policy please refer to the respective Bank’s website.

Confidentiality: The Customer hereto shall keep strictly confidential all information including but not limited to that which may be disclosed or confided to it by the other in the course of the performance of the obligations (“Confidential Information”) under these T&Cs. The Customer shall not disclose Confidential Information to any third party without prior approval of the Bank and instantwalletpay. This clause shall survive the termination of PPI. Information may not be considered as Confidential Information is the same is:

Already in public domain;

Required to be disclosed by the Customer under any laws, rules or regulations or pursuant to the order or direction, of any Court, authority, tribunal or forum.

Change in information: The Customer shall always inform instantwalletpay or the Bank of any change in the Customers mailing address. Further, the Customer shall also inform instantwalletpay or the Bank about any change in the details such as name, mobile number or email address.

Prohibition against assignment: The functions, rights or obligations under these T&Cs shall not be assigned or delegated to any party or person by the Customer without the express prior written consent of the Bank. Any purported assignment or delegation is a contravention of the terms under this T&Cs’ and shall be null and void.

Suspension or Termination or Cancellation or Discontinuance of the PPI: Bank may, if it is satisfied that it is necessary to do so, at any time and on such conditions as it thinks fit, suspend or deny or terminate the PPI under the following circumstances:

In the event of the Customer being declared insolvent or in the event the Bank receives any notice/intimation about the death of the Customer;

In the event of the Customer committing breach of any of the terms, conditions, stipulations or its obligations under these Terms;

In the event of any restriction imposed on the Customer by an order issued by any regulatory authority or a Court in UK or by any investigating agency.

Indemnity: The Customer shall indemnify and keep the Bank, its directors, officers, employees and agents indemnified of, from and against any cost, expenses, charges, which the Bank is required to incur or has incurred to defend any such claim, suit, demand, prosecution, proceedings, due to any act of omission or commission, fraud, negligence or default on the part of the Customer as a holder of the Prepaid Instrument.

Force Majeure: Notwithstanding anything contained herein, Bank shall not be liable to the Customer for any harm, loss, damage or injury caused due to causes beyond its control such as tide, storm, cyclone, flood, lightning, earthquake, fire, blast, explosion or any other act of God, war, rebellion, revolution, insurrection, embargo or sanction, blockade, riot, civil commotion, labor action or unrest including strike, lock-out or boycott, interruption or failure of any utility service, enemy action, criminal conspiracy, act of terrorism or vandalism, sabotage, hacking, unanticipated technological or natural interference or intrusion, loss or damage to satellites, loss of satellite linkage or any other data communications linkage, loss of connectivity or any other irresistible force or compulsion.

Service of Notice: Any notice or communication required to be given under these T&Cs shall not be binding unless the same is in writing and shall have been served by hand delivery against acknowledgement or by registered post at the Registered Office address of respective bank (in case a notice is to be served to the bank) and to address recorded with the bank in case notice is to be served to the Customer.

Grievance Redressal: Any complaint, dispute, grievance can be addressed to instantwalletpay or the respective Bank through its Customer Service in accordance with the Grievance Redressal Policy of the entity to which the grievance is being raised.

Governing Language: All deeds, documents and writings that may be executed and all correspondence that may be exchanged between the Customer and the bank hereto in relation to the subject matter of this T&Cs shall be in English language, which shall be the governing language between the Customer the bank hereto.

Changes to “T&Cs”: The Bank and instantwalletpay reserves the right, in its sole and absolute discretion to amend, delete, modify, vary, or supplement any of the T&Cs at any time and will endeavor to give prior notice of seven days for such changes. Please refer to the exhaustive T&Cs displayed on the website of the respective Bank for the latest and comprehensive applicable terms and conditions.

T&Cs - Digi Kendra

1. DIGI KENDRA TERMS AND CONDITIONS

instantwalletpay.com Limited (“instantwalletpay”) is a neo-banking platform delivering full-stack banking services to individuals and businesses. instantwalletpay is authorised by multiple banks to act as a Corporate Business Correspondent (“CBC”) and appoint Agent Business Correspondents (“ABC”) to deliver mainstream financial and citizen services to Customers under the guidelines issued by RBI vide RBI/2010-11/217 DBOD. No. BL.BC.43/22.01.009/2010-11 dated September 28, 2010, and the related constraints therein, with such further changes as may be initiated by the RBI respectively from time to time.

“Digi Kendra(s)” shall mean and include the Users registered on the instantwalletpay Platform who are authorised by instantwalletpay and the Bank to operate as ABC(s) under the above-mentioned guidelines for providing banking and citizen services envisaged in these Digi Kendra Terms and Conditions.

Subject to the compliance of applicable regulations and basis the representations and the affirmations given by the Digi Kendra about it having the requisite capability to provide the services further and to carry out various other activities as mutually agreed to between the Digi Kendra and the Company, the Digi Kendra is desirous of facilitating the sale of services of the Bank(s).

These Digi Kendra Terms and Conditions (“Digi Kendra Terms and Conditions”) as set out below are in addition to the Terms and Conditions as set out above and are applicable to all the Digi Kendras registered on the instantwalletpay Platform.

DIGI KENDRA OBLIGATIONS AND DUTIES

The Digi Kendra shall only undertake the activities in accordance with all the applicable Terms, relevant regulations and standard operating procedures issued by the Bank or the Regulators from time to time.

The Digi Kendra shall take an appropriate insurance policy in order to protect itself from any business impediments, financial and non-financial risks.

The Digi Kendra shall operate at its own cost as may be required by the Company or the Bank to effectively deliver the services to the Customers.

The Digi Kendra shall ensure that any additional resource(s) engaged by the Digi Kendra, subject to prior written approval from the Company, are selected through a process found suitable by the Company for providing the services in a timely and efficient manner.

The Digi Kendra shall be solely responsible for compliance with all applicable labour laws in relation to the personnel it employs along with the associated costs. instantwalletpay will not have any right, obligation or responsibility whatsoever to control, supervise or manage the Digi Kendra’s employees, agents or independent contractors.

The Digi Kendra may utilize any third-party software other than the Software for providing the Services only after prior written permission of the Company. The Digi Kendra shall ensure that such third-party Software is validly licensed, procured and installed. It shall ensure that the use of third-party Software shall not affect or damage instantwalletpay’s Software.

The Digi Kendra shall act prudently in accordance with these Terms and Conditions and shall exercise all due diligence in carrying out its duties and obligations under these Terms and Conditions. The Digi Kendra agrees that they will preserve the data in accordance with the legal/regulatory obligations of the Company and as required under various circulars, guidelines, notifications etc. issued by the Bank or other regulatory authorities.

The Digi Kendra shall not exercise any lien or right to set-off or appropriation on any of the assets, properties, documents, instruments or material belonging to the Company and/or the Customers and/or non-Customers in the custody of the Digi Kendra for any amount due or claimed to be due by the Digi Kendra from the Bank.

The Digi Kendra shall promptly provide the details provided by the Company indicating the charges (if any) for the Services rendered to each and every Customer. The Digi Kendra shall ensure that the charges for offering Services are clearly communicated to the Customer prior to rendering the services.

The Digi Kendra shall not charge any fee from the Customer either directly or indirectly or on behalf of the Company over and above the fee specified by the Company from time to time.

The Digi Kendra undertakes to perform the Services in accordance with the instructions provided by the Company from time to time.

The Digi Kendra undertakes that any software or hardware used by the Digi Kendra shall comply with the industry standards and will be updated regularly.

The Digi Kendra shall immediately notify the Company of any breach of security and leakage of confidential information. In such eventualities, the Digi Kendra shall be liable for all the damages and repercussions.

The Digi Kendra shall familiarize itself with the Grievance Policy of the Company; the Digi Kendra shall communicate this policy to each and every Customer and shall notify the Company within the specified time period of any claims/complaints/grievances made by the Customers.

The Digi Kendra undertakes that any Customer information taken shall be strictly protected as per the Terms and Conditions and the Digi Kendra would not source any other personal sensitive information from the Customers.

In no event shall the Digi Kendra indulge or enter into any financial transaction with any of the instantwalletpay employees, associates, agents and/or personnel. instantwalletpay shall not be liable for any damages, losses (direct or indirect) whatsoever caused to the Digi Kendra arising out of such transactions.

The Digi Kendra shall treat all the Customers with dignity and respect and shall not resort to any kind of intimidation or harassment, either verbal or physical against any person.

If any legal proceeding is instituted by any Customer, the Digi Kendra shall immediately intimate the same to the Company and provide all documents and information to enable the Company to take appropriate action. The Company shall not be liable for any dispute arising between the Digi Kendra and any other entity / third party. The Digi Kendra shall not make any representation to the Customers or otherwise give any warranties other than those contained in the standard terms and conditions laid down by the Company.

CASH MANAGEMENT

instantwalletpay shall from time to time authorise certain Digi Kendras for cash management activities and to further extend the reach of banking services to the Customers for greater financial inclusion. Such Digi Kendras shall:

Collect and/or dispense cash at other Digi Kendra outlets in the assigned territory to ensure uninterrupted delivery of banking and citizen services to the Customers as per the mutually agreed terms.

Confirms that it assumes all the risks associated with cash logistics and shall take an appropriate insurance policy in order to protect itself from any business impediments, financial and non-financial risks.

Be solely responsible for providing genuine currency to all the Digi Kendras and hence to the Customers towards the Transactions performed and the Company shall not assume any responsibility in this regard.

Ensure that the credit or debit against the cash collected or dispensed to the other Digi Kendra(s) happens on an immediate basis at the time of handing over the cash.

SETTLEMENT

The payment mechanism for settlement of the fee payable by the Digi Kendra or the Company as applicable shall be as follows:

The Company shall make available to the Digi Kendra a report in electronic form setting forth the following information relating to each Transaction: The Transaction amount, date and time of the Transaction, Transaction serial number, Service Provider identification and response code ("MIS"). The MIS shall be made available to the Digi Kendra via an online portal. The format and controls on the portal and process will be as provided by the Company and as updated from time to time.

The Digi Kendra shall maintain sufficient credit/balance with the Company so as to enable each Transaction to be carried out smoothly. The Company reserves the right to decline any Transactions done over and above the balance of Digi Kendra available with the Company.

The Digi Kendra hereto agrees that any payment instructions for Transactions accepted by the Digi Kendra as per the terms hereof which are subsequently disputed due to (a) the authorization by the Digi Kendra of any Transaction with an amount exceeding the Digi Kendra’s account balance or credit limit, or (b) the authorization by the Digi Kendra of a fraudulent Transaction, shall always be the liability and responsibility of Digi Kendra.

The Digi Kendra hereby acknowledges and agrees that instantwalletpay is a facilitator for payment processing services which are requested and authorized by Digi Kendra and instantwalletpay shall not be responsible for any unauthorized transaction done by any person including third party and amounting to infringement of another’s rights or any chargebacks claimed by the Customers. It will be the responsibility of Digi Kendra to ensure due protection while transacting online or otherwise. instantwalletpay will assist the Digi Kendra in settling any queries related to the Services that arise between the Digi Kendra and its Customers and any other Digi Kendra. However, instantwalletpay shall bear no responsibility with respect to the dispute or query related to the payment made by the Customers to the Digi Kendra.

On the receipt of the Chargeback from the customer, Digi Kendra shall be notified by the Company. The Digi Kendra shall be entitled to furnish documents and information pertaining to the Transaction associated with the Chargeback within one (1) working day or such other period as specified by the bank whichever is higher. The Digi Kendra agrees and acknowledges that (i) if the Digi Kendra is unable to furnish Chargeback Documents (ii) the bank is not satisfied with the Chargeback documents furnished by the Digi Kendra, then the bank shall be entitled to order the instantwalletpay to affect a reversal of the debit of the Chargeback Amount associated with the Chargeback such that the said chargeback amount is credited to the Customer’s Payment Instrument.

DATA SECURITY AND STORAGE

The Digi Kendra shall comply with the provisions contained in the Information Technology Act, 2000 and the statutory rules framed thereunder, from time to time, in so far as the same has applied to its operations in accordance with all these Terms and Conditions, and also with all other Laws, rules and regulations, whether already in force or which may be enacted from time to time, pertaining to data security and management, data storage, sharing and data protection, and various rules, regulation and provisions as may be applicable, as and when the same is enacted into law and comes into force, and shall ensure the same level of compliance by all its employees.

The Digi Kendra confirms and certifies that it will never engage in any acts that violate any laws and regulations. It shall also ensure that the financial data or any other information of the Customers received by the Digi Kendra are stored in a system only in UK. This data shall include a full end to end transaction details/information collected/carried/processed as part of the message/payment instructions.

TERMINATION

The Digi Kendra agrees that instantwalletpay, in its sole discretion, for any or no reason, and without penalty, may suspend or terminate the account (or any part thereof) or the use of the instantwalletpay Platform. instantwalletpay may also in its sole discretion and at any time discontinue providing access to the instantwalletpay Services, or any part thereof, with or without notice. Digi Kendra agrees that any termination of the access to the instantwalletpay platform may be effected without prior notice, and Digi Kendra agrees that instantwalletpay shall not be liable to the Digi Kendra or any third party for any such termination or interruption. Any suspected fraudulent, abusive or illegal activity may be referred to appropriate law enforcement authorities. These remedies are in addition to any other remedies instantwalletpay may have at law or in equity. Upon termination for any reason, Digi Kendra agrees to immediately stop using the instantwalletpay Services and Platform.

Investments