Privacy policy
Effective Date: 05th February
2025
Thank you for showing interest in SPCTRM
PE Private Limited. We value the trust you place in us. We are committed to
protecting your privacy. This Privacy Policy explains how we collect, use and
share your personal information. This Privacy Notice applies to your use of our
website, and/or Services, and covers information collected in connection with
your access to and use of our website and/or Services. Please read this Privacy
Notice carefully. By continuing to interact with us, you are consenting to the
practices described in this Privacy Policy. If you do not agree to the terms of
this Privacy Policy, please do not use or access our Website and/ or Services.
Our Privacy Policy is
subject to change from time to time without notice and it is strongly
recommended that you periodically review our Privacy Policy as available on the
Application/Website.
INFORMATION THAT WE
COLLECT AS YOU USE OUR SERVICES
We collect or receive information you
provide when you apply, use or sign up for/on a SPCTRM PE AEPS/MATM/POS/QR/PG/Acquiring or other
Services, go through our identity or account verification process, authenticate
into your account, communicate with us, answer our surveys, upload content, or
otherwise use the Services.
We collect or receive information about
you when you use our AEPS/MATM//POS/QR/PG/Acquiring and/or Services, including:
- Identification
Information. Your
name; email address; mailing address; mobile/phone number; photograph;
birthdate; passport, driver’s license, PAN, or other government-issued
identification; or other historical, contact, and demographic information
when you apply, use or sign up for a SPCTRM PE AEPS/MATM/POS/QR/PG/Acquiring and/or
other Services, signature, and authentication credentials (for example,
information you use to login to your account), including IP address.
- Background
Information. To the extent permitted by applicable laws, we
may obtain background check reports from public records of criminal
convictions and arrest records. We may use your information, including
your full name, government-issued identification number, and date of
birth, to obtain such reports.
- Financial
Information. Information
such as bank account, payment card numbers, credit reports, and other
publicly available information.
- Credit,
Compliance and Fraud. Information about you from third parties
in connection with any credit investigation, credit eligibility, identity
or account verification process, fraud detection process, or collection
procedure, or as may otherwise be required by applicable law. This
includes, without limitation, the receipt and exchange of account or
credit-related information with any credit reporting agency or credit
bureau, where lawful, and any person or corporation with whom you have
had, currently have, or may have a financial relationship, including
without limitation past, present, and future places of employment,
financial institutions, and personal reporting agencies.
- Transaction
Information. When
you use our AEPS/MATM/POS/QR/PG Acquiring and/or other Services to make,
accept, request, or record payments, we receive information about when and
where the transactions occur, the names of the transacting parties, a
description of the transactions, the payment or transfer amounts, billing
and shipping information, and the devices and payment methods used to
complete the transactions.
- Other
Information You Provide. Information that you voluntarily provide
to us, including any survey responses; participation in contests,
promotions, or other prospective seller marketing forms or devices;
suggestions for improvements; referrals; or any other actions performed on
the Services.
INFORMATION WE
COLLECT OR RECEIVE FROM YOUR USE OF OUR POS AND/OR SERVICES
We collect or receive information about
you and the devices you use to access the PoS and/or Services, such as your
computer, mobile phone, or tablet. The information that we collect or receive
includes:
- Precise
Geolocation Information. The location of your device.
- Device
Information. Information about your device, including your
hardware model, operating system and version, device name, unique device
identifier, mobile network information, and information about the device’s
interaction with our Services.
- Use
Information. Information
about how you use our Services, including your access time,
“log-in” and “log-out” information, browser type and
language, country and language setting on your device, Internet Protocol
(“IP”) address, the domain name of your Internet service
provider, other attributes about your browser, mobile device and operating
system, any specific page you visit on our website/platform, content you
view, features you use, the date and time of your visit to or use of the
Services, your search terms, the website you visited before you visited or
used the Services, data about how you interact with our Services, and
other clickstream data.
- Business
Information. Information
about products and services you sell (including inventory, pricing and
other data) and other information you provide about you or your business.
- Customer
Information. Information
you collect from your customers, including email address, phone number,
payment information, or other information.
We only collect and use such
information from you that we consider necessary for achieving a seamless,
efficient and safe experience, customized to your needs and use the personal
information to provide products to you, enhance the operation of the Application/
Website, improve our marketing and promotional efforts, analyse Application/
Website use, improve our product offerings, to personalise your experience and
to provide you a better experience.
HOW WE USE YOUR
INFORMATION
We may use information about you in the
following ways, including:
Providing, Improving,
and Developing our Services
Processing or recording payment
transactions or money transfers; Otherwise providing you with the SPCTRM PE products and features you choose to use;
Displaying your historical transaction or appointment information; Providing,
maintaining and improving our Services; Developing new products and services;
Delivering the information and support you request, including technical
notices, security alerts, and support and administrative messages including to
resolve disputes, collect fees, and provide assistance for problems with our
Services or your SPCTRM PE account;
Improving, personalizing, and facilitating your use of our Services; Measuring,
tracking, and analyzing trends and usage in connection with your use or the
performance of our Services
Communicating with
You About our Services
Sending you information we think you
may find useful or which you have requested from us about our products and
services;
Conducting surveys and collecting feedback about our Services.
Protecting our
Product and Services and Maintaining a Trusted Environment
Investigating, detecting, preventing,
or reporting fraud, misrepresentations, security breaches or incidents, other
potentially prohibited or illegal activities, or to otherwise help protect your
account, including to dispute chargebacks on your behalf;
Protecting our, our customers’, or your customers’ rights or property, or the
security or integrity of our Services;
Enforcing our Terms of Use or other applicable agreements or policies;
Verifying your identity (e.g., through government-issued identification
numbers);
Complying with any applicable laws or regulations, or in response to lawful
requests for information from the government or through legal process;
Fulfilling any other purpose disclosed to you in connection with our Services;
Contacting you to resolve disputes, collect fees, and provide assistance with
our Services.
Advertising and
Marketing
Communicating with you about
opportunities, products, services, contests, promotions, discounts, incentives,
surveys, and rewards offered by us and select partners;
If we send you marketing emails, each email will contain instructions
permitting you to “opt out” of receiving future marketing or other
communications.
Other Uses
For any other purpose disclosed to you
in connection with our Services from time to time.
Any information that you provide
directly to a third-party merchant, website or application is not covered by
this privacy notice. We are not responsible for the privacy or security
practices of merchants or other third parties with whom you choose to share
your personal information directly. We encourage you to review the privacy
policies of any third party with whom you choose to share your personal
information directly
HOW WE SHARE YOUR
INFORMATION
We may share information as per terms
of this Privacy Policy, however we shall endeavor that such use of information
does not create hindrance on your use of our application/services. We do not
share your personal information with third parties other than as follows:
“Others working for
us.” We use certain trusted third parties to provide, maintain, and improve
our Services, including service providers who access information about you to
perform services on our behalf (e.g., fraud prevention, identity verification,
and fee collection services), as well as financial institutions, payment
networks, payment card associations, credit bureaus, partners providing
services on SPCTRM PE behalf, and other
entities in connection with the Services.
With third parties; to help us provide,
improve, protect, and promote our application (such as third-party analytics
tools to help us measure traffic and usage trends for our application). These
third parties will access your information only to perform tasks on our behalf
and in compliance with this Privacy Policy.
With our Affiliates; With our group
companies and corporate affiliates, for the purposes outlined herein.
“Business Transfers and Corporate
Mergers.” To a subsequent owner, co-owner, or operator of one or more of the
Services; or
In connection with (including, without
limitation, during the negotiation or due diligence process of) a corporate
merger, consolidation, or restructuring; the sale of substantially all of our
stock and/or assets; financing, acquisition, divestiture, or dissolution of all
or a portion of our business; or other corporate change.
“Generally with your
Consent.” Any information or content that you voluntarily disclose for
posting on our application may become available to the public, as controlled by
any applicable privacy settings that you set. To change your privacy settings
on our application, you may change your profile setting. Once you have shared
the content/data or made it public, that content/data may be re-shared by0020others.
“Enforcing Rights.” We may also disclose
personal information to enforce our policies, respond to claims that a posting
or other content violates others’ rights, or protects anyone’s rights, property
or safety.
“Law & Order.” We may disclose your
information to third parties if we determine that such disclosure is reasonably
necessary to: (a) comply with the laws; (b) protect any person from death or
serious bodily injury; (c) prevent fraud or abuse of our name, brands, trademarks
or such other rights belonging to us or our other users; or (d) protect our
rights.
We also may share (within our group of
companies or with third parties) aggregated and anonymized information that
does not specifically identify you or any individual user of our Services
Stewardship of your data is critical to
us and a responsibility that we embrace. We believe that our usersБ─≥ data
should receive the same legal protections regardless of whether it’s stored on
our servers or on their home computer systems or devices. While complying with
the directions issued by the statutory authorities, our endeavour shall be to
protect the interest of users and follow transparency.
HOW LONG WE RETAIN
YOUR INFORMATION
We will retain your personal
information for as long as we need it.
We can retain copies of information about any transactions or Services in which
you may have participated for a period of time that is consistent with
applicable law, applicable statute of limitations or as we believe is
reasonably necessary to comply with applicable law, regulation, legal process,
or governmental request, to detect or prevent fraud, to collect fees owed, to
resolve disputes, to address problems with our Services, to assist with
investigations, to enforce our Terms of Use or other applicable agreements or
policies, or to take any other actions consistent with applicable law.
SECURITY PRECAUTIONS
The Website/App intends to protect your
personal information and to maintain its accuracy as confirmed by you. We
implement reasonable physical, administrative and technical safeguards to help
us protect your personal information from unauthorized access, use and
disclosure. We also require that our registered third party service providers
protect such information from unauthorized access, use and disclosure.
Our Platform has stringent security
measures in place to protect the loss, misuse and alteration of information
under control. We endeavour to safeguard and ensure the security of the
information provided by you. We use Secure Sockets Layers (SSL) based encryption,
for the transmission of the information, which is currently the required level
of encryption in India as per the law. Nevertheless, the internet is not a 100%
secure environment, and we cannot guarantee absolute security of the
transmission or storage of your information.
THIRD-PARTY
ADVERTISING AND ANALYTICS
- We
can use third-party service providers to provide site metrics and other
analytics services. These third parties can use cookies, web beacons, and
other technologies to collect information, such as your IP address,
identifiers associated with your device, other applications on your
device, the browsers you use to access our Services, webpages viewed, time
spent on webpages, links clicked, and conversion information (e.g.,
transactions entered into). This information can be used by SPCTRM PE and third-party service providers on
behalf of SPCTRM PE to analyze and
track usage of our Services, determine the popularity of certain content,
and better understand how you use our Services. The third-party service
providers that we engage are bound by confidentiality obligations and
other restrictions with respect to their use and collection of your
information.
This Privacy Notice does not apply to,
and we are not responsible for, third-party cookies, web beacons, or other
tracking technologies, which are covered by such third parties’ privacy
policies. For more information, we encourage you to check the privacy policies
of these third parties to learn about their privacy practices.
YOUR CONSENT
By using the Website/App and/ or by
providing your information, you consent to the collection and use of the
information you disclose on the Website in accordance with this Privacy Policy,
including but not limited to Your consent for collecting, using, sharing and
disclosing your information as per this privacy policy.
You have acknowledged that the Privacy
Policy contained herein have been explained to you in vernacular language and
you have understood the contents thereof.
If we decide to change our privacy
policy, we will post those changes on this page so that you are always aware of
what information we collect, how we use it, and under what circumstances we
disclose it.
YOUR CHOICES
Personal Information
You may access, change, or correct
information that you have provided by logging into your SahiPe account at any
time or by making a request to us on care@sahipe.com, in which case we may need
to verify your identity before granting access or otherwise changing or
correcting your information.
Deactivating Your
Account
If you wish to deactivate your account,
you can do so by logging into your SPCTRM PE account or by emailing us on: care@sahipe.com.
Location Information
In order to provide certain Services,
we may require access to location information, including precise geolocation
information collected from your device. If you do not consent to collection of
this information, certain Services will not function properly and you will not
be able to use those Services.
Promotional
Communications
You can opt out of receiving
promotional messages from SahiPe by
following the instructions in those messages, by informing the caller that you
would not like to receive future promotional calls, or by changing your
notification settings by logging into your SahiPe account. You may only opt-out of text messages
from SahiPe by replying STOP. Opting out
of receiving communications may impact your use of the Services. If you decide
to opt out, we can still send you non-promotional communications, such as
digital receipts and messages about your account or our ongoing business relations.
SECURITY
We take reasonable measures, including
administrative, technical, and physical safeguards, to protect your information
from loss, theft, misuse, and unauthorized access, disclosure, alteration, and
destruction. Nevertheless, the internet is not a 100% secure environment, and
we cannot guarantee absolute security of the transmission or storage of your
information. We hold information about you both at our own premises and with
the assistance of third-party service providers.
JURISDICTION
All disputes, differences and/or claims
arising out of, or relating to, or in connection with this Privacy Policy or
the breach, termination or validity hereof shall be referred to Sole
Arbitrator, to be jointly appointed by both the Parties, in accordance with the
Arbitration and Conciliation Act, 1996, as amended from time to time. The seat
of the arbitration shall be New Delhi, India. The award given by the arbitrator
shall be final and binding on both the Parties. The language of the arbitration
proceedings and award shall be English. The arbitration proceeding shall be
kept confidential and will not be open for public.
COMMUNICATION WITH
COMPANY
We welcome your comments or questions
regarding this Privacy Policy. Please contact our Customer Care Department
and/or Grievance Officer – Mr. Nikhil Goswami with any questions or concerns
regarding this Privacy Notice and/or security by writing an email on care@sahipe.com
You may contact us at the following
address: SPCTRM PE Private Limited Office No. 502, Plot No. 5, 5th Floor, Time
House Building, Community Centre, Wazirpur, Wazir Pur III, North West Delhi,
Delhi, Delhi, India, 110052.
If you have any questions or concerns
regarding our notice, or if you believe our notice or applicable laws relating
to the protection of your personal information have not been respected, you may
file a complaint with our Privacy Department listed above, and we will respond
to let you know who will be handling your matter and when you can expect a
further response. We may request additional details from you regarding your
concerns and may need to engage or consult with other parties in order to
investigate and address your issue. We may keep records of your request and any
resolution.
Terms and Conditions
Terms and Conditions
for SahiPe Wallet usage
Last Updated: Feb 22,
2025
Terms and Conditions of “SahiPe “if
Wallet Services provided by SPCTRM PE Pvt. Ltd. (here-inafter referred to as “SPPL”)
having its registered office at Office No. 502, Plot No. 5, 5th Floor, TIme
House Building, Community Centre, Wazirpur, Wazir Pur III, North West Delhi,
Delhi, Delhi, India, 110052.
These ‘Terms and Conditions’ (defined
below) and any attachments or accompanying supplement(s) shall also include the
terms and conditions stated on SPPL’s website www.SahiPe.com ,governing
usage of the PPI (“SahiPe Wallet Account”) held by you
(“You/user/Customer”) you here by agree to abide by these Terms and
Conditions and You shall be deemed to have unconditionally agreed to and
accepted these terms by performing a transaction with the PPI and shall have
complied with all the relevant notifications/ guidelines / circulars issued by
the Reserve Bank of India (RBI)/ any other competent authority / statutory or
regulatory body/ies governing the issue and use of the PPI. SPPL disclaims all
liability on account of any breach by You of the relevant notifications/
guidelines / circulars in force at the relevant time and as may be modified from
time to time, governing usage of the PPIs. You understand and agree that SPPL
reserves the right to update the SPCTRM PE Terms and Conditions from time to time. If
these Terms and Conditions are not acceptable, you must not use the PPI.
THESE TERMS AND CONDITIONS ARE AN
ELECTRONIC RECORD IN THE FORM OF AN ELECTRONIC CONTRACT FORMED UNDER
INFORMATION TECHNOLOGY ACT, 2000 AND RULES MADE THEREUNDER AND THE AMENDED
PROVISIONS PERTAINING TO ELECTRONIC DOCUMENTS / RECORDSIN VARIOUS STATUTES AS
AMENDED BY THE INFORMATION TECHNOLOGY ACT, 2000. THE SAME DOES NOT REQUIRE ANY
PHYSICAL, ELECTRONIC OR DIGITAL SIGNATURE. IT IS DISCLOSED IN COMPLIANCE WITH
SECTION 21 OF PAYMENT AND SETTLEMENT SYSTEMS ACT, 2007 AND AS REQUIRED TO BE
DISCLOSED UNDER POLICY GUIDELINES ON ISSUANCE AND OPERATION OF PREPAID PAYMENT
INSTRUMENTS IN INDIA.
THESE TERMS AND CONDITIONS WILL BE
EFFECTIVE UPON YOUR ACCEPTANCE OF THE SAME (IN ELECTRONIC FORM OR BY MEANS OF
AN ELECTRONIC RECORD OR OTHER MEANS) AND WILL GOVERN THE RELATIONSHIP BETWEEN
YOU AND SPPL FOR THE USE OF THE PPI AND YOU UNCONDITIONALLY AGREE TO ABIDE BY
THE SAME. IF ANY OF THESE TERMS AND CONDITIONS CONFLICT WITH ANY OTHER
DOCUMENT/ELECTRONIC RECORD IN THIS BEHALF, THESE TERMS AND CONDITIONS SHALL
PREVAIL, UNTIL FURTHER CHANGES/ MODIFICATIONS ARE NOTIFIED BY SPPL
1. Definitions:
1.1 “AGENT Opening Form”/
“AOF” shall mean the form to be completed in writing by the Applicant
Agent and to be submitted along with full KYC documents, physically at SPPL
location and/or such other locations as may be intimated by SPPL.
1.2 “Agent(s)”/ “API
Based Agent(s)” shall mean the retail agents appointed by SPPL, who shall
be acting as agents of the SPPL to support opening of SahiPe Wallet, loading
money into SahiPe Wallet & educate
customers to use SahiPe Wallet.
1.3 “Telecom Operator”
shall mean the telecom service provider and its subsidiaries having the necessary
government approvals/ licenses, issued inter alia by the Department of
Telecommunications, Government of India, and who shall provide telecom access
service such as, Short Message Service (“SMS”), Unstructured
Supplementary Service Data (“USSD”), General Packet Radio Service
(“GPRS”), 3G & 4G or any other telecommunication protocols to
facilitate network communications required for operation of SahiPe Wallet.
1.4 “User / Customer
/Subscriber” shall mean an individual person above the age of 18
(eighteen) years, using an operational mobile phone connection of Telecom
Operator in India (with country code +91), who download or approaches Agent’s
locations and/or such other locations as may be intimated by SPPL from time to
time, for availing the SahiPe Wallet Services.
1.5 “Bill Payment” shall
mean the transactions wherein the Customer uses the SahiPe Wallet Services to
make payments towards utility bills, merchant payments and other such bill
payments as may be permitted under the RBI guidelines by utilizing the SahiPe
Wallet.
1.6 “Charges” shall mean
all charges pertaining to the Transactions and more particularly specified in
“Wallet Charges and Validity Section” hereof.
1.7 “Force Majeure Event”
shall have the meaning ascribed to it in clause “15” hereof.
1.8 “KYC” shall mean the
various norms, rules, laws and statutes issued by RBI from time to time and
shall include the Know Your Customer guidelines issued by the RBI, under which SPPL
is required to procure personal identification details and proof of documents
from the Agent and/or Customer as may be required at the time of submission of
Application for premium SahiPe Wallet and/or at a later date, for availing
and/or continuation of the SPCTRM PE Services.
1.9 “SahiPe Wallet” shall
mean account which permit only payment of utility bills/ essential services.
The amount loaded during any month shall not exceed Rs 10,000/- and can be
issued by accepting minimum details of customer provided the amount outstanding
at any point of time does not exceed Rs. 10,000 and the total value of reloads
during any given month does not exceed Rs.10,000. These can be issued only in
electronic form without any KYC being undertakenby SPPL. Cash withdrawal &
redemption and transfer of funds to other SahiPe Wallets/Bank Accounts is not
permissible as per RBI guidelines.
1.10 Premium SahiPe Wallet” shall
mean account which permit unlimited number of transactions with full KYC and
can be reloaded in nature. However, the balance in the premium SahiPe Wallet
should not exceed Rs 100,000.00 at any point in time. Cash withdrawal &
redemption is not allowed as per RBI guidelines.
- Subscribers
can register their own beneficiaries and the limit for the fund transfer
for these preregistered beneficiaries shall not exceed Rs. 1,00,000/- per
month per beneficiary.
- The
fund transfer limit for all other cases shall be restricted to Rs.
10,000/- per month.
- Fund
transfer to a Bank Account can be done by specifying the Bank Account
Number and the Bank IFSC Code.
1.11 “SahiPe Wallet & Premium
SahiPe Wallet” shall mean the semi closed pre-paid instrument issued by SPPL
as authorized and licensed by RBI under the RBI Guidelines.
1.12 “Merchant / Merchant
Establishment” shall mean and include any outlet/ service providerwho have
been authorized by SPPL to accept payment for goods or services.
1.13 “SahiPe Wallet / Premium SahiPe
Wallet” shall mean a non-interest-bearing account opened in the name of
the Customers, issued and maintained by SPPL for the purpose of ensuring usage
of the account as per these Terms and Conditions, in order to enable the
Customers to avail the “SPCTRM PE ” Wallet Services on their mobile
phones & “SPCTRM PE .com” website, in compliance with the RBI
Guidelines.
1.14 “Transaction PIN” shall
mean a secret password set up by the customer that would enablethe Customer to
secure, access and operate their SahiPe Wallet.
1.15 “SahiPe Wallet
Services” or “Services” shall mean the services offered by SPPL
by operation of the “SPCTRM PE ” Wallet.
1.16 “RBI” shall mean the
Reserve Bank of India.
1.17 “RBI Guidelines” shall
mean the applicable guidelines, regulations, notifications and instructions
issued by RBI in relation to the issuance and operation of semi-closed system
pre- paid payment instruments in India and operation of the “SahiPe Wallet”
and SahiPe Wallet Services and all other guidelines and instructions inclusive
of their respective amendments as may be issued and notified by RBI from time
to time including The Payment and Settlement Systems Act, 2007 &
regulations made there under.
1.18 “Transaction/s” shall
mean any credit or debit of money balances in the Customer’s SahiPe Wallet
Account including but not limited to money transfer payments and receipts,
payments for goods and services, utility payments & load money.
1.19 “Website” shall mean
the website www.sahiPe
.com which is owned, established and maintained by SPPL.
1.20 “Cash Back (s)” shall
mean the money credited to Customer of SPCTRM PE / Premium SahiPe Wallet as incentive to make
transactions using SahiPe Wallet.
1.21 The Customer / Agent would be
allowed to perform wallet transaction either from the Mobile Phone App
(downloaded and registered) or from the website www.SPCTRM PE.com . Same login
credentials (Subscriber ID, Password) and Transaction PIN will be applicable
from both the mobile App and the Web based application.
2. General
Conditions:
2.1 SPPL shall operate and issue SahiPe
Wallet and be responsible to the Customers & Agents for all its acts of
omissions and commissions as regards the SahiPe Wallet in accordance with these
Terms and Conditions.
2.2 The SahiPe Wallet Services can
only be availed by a person who has attained the age of 18Years (eighteen). A
minor under a guardianship of a person who has capacity to contract may hold
and use SahiPe Wallet under such guardianship.
2.3 To avail of the SahiPe Wallet
Services from any Agent location, the Customers are required to only approach
the authorized retail agents appointed by SPPL. Updated list of all the agents
along with their phone numbers and addresses can be found on SPCTRM PE .com
website and from the mobile application.
2.4 For Transactions conducted at
Merchant Establishments and/ or Agent locations, the Customer should ensure
receipt of a SMS as a confirmation of such Transactions.
2.5 In the event of any loss, and/or
theft of the mobile phone, the Customer shall immediately do the following in
order to deactivate the active SPCTRM PE session on the mobile device:
(a) call the customer care center on
the number listed on the Website to have the active sessionon the mobile device
deactivated; and
(b) register a complaint with the
Mobile Telecom Operator to have the SIM number deactivated,
2.6 The Customer shall promptly
inform SPPL about any changes in his/her permanent or communication address or
other relevant KYC details and provide the supporting KYC document(s) that SPPL
may require from time to time.
2.7 The Customer shall not assign or
transfer the SahiPe Wallet Account, or the Services, or otherwise grant any
third party a legal or equitable interest over it.
2.8 The Customer shall be the sole
and exclusive owner of the Transaction PIN set up by the user for authorizing SahiPe
Wallet transactions, and the Customer accepts sole responsibility for use,
confidentiality and protection of the Transaction PIN. The Customer shall not
disclose the Transaction PIN to any other person and shall not respond to any
unauthorized SMS/ e-mail/phone call in which the Transaction PIN is asked for. SPPL
and/ or Agent shall, in no manner whatsoever, be held responsible or liable, if
the Customer incurs any loss as a result of the Trans-action PIN being
disclosed/ shared by the Customer with any unauthorized persons or in any other
manner whereby the security of the Transaction PIN is compromised.
2.9 The Customer acknowledges that
any information provided to SPPL and/or Agent with the intention of securing
the SahiPe Wallet Account shall vest with SPPL and/or Agent (as the casemay
be), and may be used by SPPL and/or Agent, at its discretion, for any purpose
consistent with any applicable law or regulation and privacy policy and/or
statement displayed on its web-site.
2.10 Any information submitted by the
Customer while using the SahiPe Wallet Services may be shared with third
parties by SPPL and Agent, inter- alia, to facilitate the provision of SahiPe
Wallet Services and any other additional services.
2.11 The Customer shall not use SahiPe
Wallet Services for any purpose that might be construed as contrary or
repugnant to any applicable law, public policy or for any purpose that is
contrary to SPPL or Agent policy or might prejudice the goodwill of SPPL and
Agent.
2.12 The Customer acknowledges that in
accordance with the RBI guidelines, SPPL maintains an escrow account with Bank
for maintaining the outstanding balances and creation of necessary charge on
such balance in the escrow account, as may be required in relation to SahiPe
Wallet in such escrow account. The Customer upon signing of these Terms and
Conditions agrees that the Customer shall have no objection in this regard.
2.13 The Customer confirms that he/she
holds only one SahiPe Wallet account for using the services offered on the
mobile as well on the web and does not hold multiple active SahiPe Wallet
Account in violation of the applicable laws and regulations of the RBI.
2.14 The Customer shall have and shall
continue to have, during the tenure of the SahiPe Wallet Services being offered
to the Customer, an operational mobile phone connection with the Telecom
Operator. The Customer shall immediately inform the SPPL and / or Agent in
writing or at the Customer Service numbers of SPPL / Agent provided on their
website, in the event of any change, cancellation, termination or surrender of
the mobile phone connection with the Telecom Operator, failing which neither SPPL
nor Agent shall be liable for any unauthorized Transactions on the SahiPe
Wallet Account.
2.15 You may need to install updates
to your SahiPe Mobile App or related SahiPe
software that SPPL introduces from time to time to access, use, or continue to
use SahiPe Services. Your SahiPe Mobile App may communicate with SahiPe servers from time to time to check for
available updates to SahiPe, such as bug fixes, patches, enhanced functions,
missing plug-ins and new versions (collectively, “Updates”). Your use
of SahiPe requires that you have agreed to receive such automatically requested
Updates. If you do not agree to such automatically requested and received
Updates, then please do not use the SahiPe App. Notwithstanding the foregoing, SPPL
may update the SahiPe App to a new version of such app, irrespective of any
update settings that you may have selected within the SahiPe App or your
device, if SPPL determines that the update will fix a critical security
vulnerability related to the app.
2.16 No outstanding balance shall be
transferred to CompanyБ─≥s Profit & Loss account for at least three years
from the expiry date of PPI. In case the PPI holder approaches the PPI issuer
for refund of such amount, at any time after the expiry date of PPI, then the
same shall be paid to the PPI holder in a bank account.
2.17 The electronic loading reloading
of PPI only by cash, payment instruments issued only by regulated entities in
India and shall be in INR only.
2.18 SPPL shall be responsible for all
the PPIs issued by the authorized / designated agents.
2.19 SPPL shall be responsible as the
principal for all acts of omission or commission of their authorized /
designated agents, including safety and security aspects.
2.20 SPPL shall ensure preservation of
records and confidentiality of customer information in their possession as well
as in the possession of their authorized /designated agents.
3. Wallet
Charges & Validity:
3.1 Customer shall pay the Service
Charges prescribed by SPPL in the form and manner pre- scribed for such
payment. SPPL may at its discretion, change, amend, increase, or reduce the
Service Charges without prior intimation to the Customer.
3.2 Any value in your SahiPe Wallet
that is utilized towards making payments for any Transaction shall be
automatically debited from your SahiPe Wallet. SPPL’s responsibility is limited
to the debiting of your SahiPe Wallet and the subsequent payment to any
Merchant Establishment that you might transact with. SPPL does not endorse,
promote, champion or warrant any goods and/or services that might be
bought/availed or proposed to be bought/availed using SahiPe Wallet.
3.3 SPPL reserves the right to levy
charges/ charge commission upon any amounts loaded up on your SPPL Wallet or
any amounts spent/utilized by Customer using SahiPe Wallet.
3.4 To avail SahiPe Wallet facility,
Customer has to maintain minimum balance of Rs.100 all the time. Customer can
use SahiPe Wallet for the loaded money minus Rs 100. For example: If Customer
loaded his SahiPe Wallet with Rs 500 then Customer can use Rs 400 against any
transactions.
3.5 In case Customer decides to close
the SahiPe Wallet, SPPL reserves the right to charge up to Rs 150 as a
maintenance/admin/infrastructure/opening charge for the duration of SahiPe
Wallet used.
3.6 An Account Maintenance Charge
(AMC) of up to Rs 150 (inclusive of applicable taxes) will be deducted by SPPL
from the wallet balance annually on completion of 1 year of account activation,
and thereafter every 1 year of completion of wallet usage.
3.7 If in case the Wallet balance on
the date when the AMC is due is less than annual AMC value then the total
available balance would be deducted as AMC (including the applicable taxes) and
the wallet account will be closed.
3.8 If the Wallet balance has gone
below the AMC value, then SPPL will send monthly SMS to the subscriber to
remind that the Wallet balance has gone below the AMC value and if sufficient
balance is not maintained then the Wallet will be closed on the next AMC due
date and subsequently the Wallet account will be closed and the available
balance will be charged towards the AMC.
3.9 Money Loading Charges for
customer application
|
Transaction
Type
|
Charges
|
|
At
Agent Location
|
Nil
|
|
Credit
Card
|
Nil
|
|
Debit
Card
|
Nil
|
|
Net
Banking
|
Nil
|
|
UPI
|
Nil
|
3.10 For money loaded at Agent
locations, the Customer should ensure & verify the credit inSahiPe Wallet
after the transaction.
|
Maximum
Service Fees* for portion of amount in the wallet loaded via
|
|
Type
of Transaction
|
Agent
Location
|
Credit
Card
|
Debit
Card
|
Net
Banking
|
UPI
|
|
Payment
to 3rd Party Mer-chant Loca-tion / Web Sites
|
Nil
|
1.75%
|
1%
|
1%
|
1%
|
|
Recharges
/ Top ups like mobile, DTH etc.
|
Nil
|
1%
|
Nil
|
Nil
|
Nil
|
|
Bill
Payments
|
Rs 10
to 1% (whichever is higher)
|
Rs 10
to 3% (whichever is higher)
|
Rs 10
to 2% (whichever is higher)
|
Rs 10
to 2% (whichever is higher)
|
Rs 10
to 2% (whichever is higher)
|
|
Money
Transfer to Bank up to Rs 2000
|
Rs 40
|
Rs 40
plus 2% of transaction value
|
Rs 40
plus 1% of transaction value
|
Rs 40
plus 1% of transaction value
|
Rs 40
plus 1% of transaction value
|
|
Money
Transfer to Bank from Rs 2000 – Rs 5000
|
Rs 75
|
Rs 75
plus 2% of transaction value
|
Rs 75
plus 1% of transaction value
|
Rs 75
plus 1% of transaction value
|
Rs 75
plus 1% of transaction value
|
|
Money
Transfer to Friend (Wallet to Wallet Transfer)
|
Nil
|
2% of
the transaction value
|
1% of
the transaction value
|
1% of
the transaction value
|
1% of
the transaction value
|
* Service Fee are excluding applicable
government taxes.
3.11 Wallet Charges & Fees for
Transactions
- The
fee displayed above are the maximum fees chargeable by SPPL for the
transaction. The actual fee charged may be less than the maximum as decide
by SPPL from time to time.
- All
service fees are exclusive of applicable government taxes and would be
charged extra as per the applicable rates.
- All
the above charges will be displayed as service charges at the time of
transaction. Customer may decline to any transactions before committing
the transaction.
- SPPL
reserves the right to update the above-mentioned service charges.
- Customer
may contact the agent for pickup of money to be loaded into the SahiPe
Wallet. In such case the agent may charge for pickup service as
appropriate as mutually accepted by agent and user on per visit basis.
- Agent
can load Customer SahiPe Wallet only thru their Agent Account.
- If
multiple channels are used to load the SahiPe Wallet. The following
sequence willbe used to Debit the money from the SahiPe Wallet
i. Amount loaded thru
Credit Card
ii. Amount loaded
thru Debit Card
iii. Amount loaded
thru Net Banking
iv. Amount loaded at
Agent location
3.12 SPPL reserves the right to set
off any balance in your Wallet in order to recover funds for transactions
processed as per your request.
4. Validity,
Redemption and Forfeiture:
The validity of the SPPL Wallet remains
in the active state as long as the transactions are done.
4.1 Any value in Your SPPL Wallet
must be utilized:
- Within
24 months from the date of your last Transaction or
- Within
24 months from the date of activation; whichever is later.
4.2 Any value in your SPPL Wallet
which is not utilized in the aforesaid manner may stand forfeited at the
discretion of SPPL. SPPL reserves the right to forfeit the amount post
adherence to the following communication process:
- If
you do not use your wallet balance for 24 months, the wallets will be
blocked in compliance with RBI guidelines. SPCTRM PE will intimate the customer three times at
an interval of 15 days, through SMS, during the 45 days period prior to
deactivating or suspension of the wallet.
4.3 All PPI holders can either
re-activate the wallet after the due diligence or reclaim their amount in their
bank accounts
5. Additional
Terms for Agents:
5.1 Agent can only load Customer SahiPe
Wallet using his / her Agent Account.
5.2 SPPL reserves the right to do the
due diligence / get police verification / get scrutiny of KYC documents
submitted at the time of submitting AOF thru their own means or any 3rd party
agency
5.3 Person applying for AOF has to
fully co-operate with agency / SPPL staff for undergoing the process of due
diligence / get police verification / get scrutiny of KYC documents
5.4 Agent Account will be opened
after completion of due diligence / police verification / scrutiny of KYC
documents process.
5.5 Agent can load their Agent
Account only thru bank account registered with SPPL. All the commission to
Agent will be credited to his / her Agent Account weekly.
5.6 Agent can register maximum up to
5 bank accounts with SPPL.
5.7 Person willing to become an Agent
has to sign the detailed “Conduct Agreement” and “Terms and
Conditions Agreement” with SPPL.
5.8 Agent cannot object for
displaying credit balance in their Agent Account, name, Home / Office / Shop
address, landline, mobile numbers to the Customer by SPPL in order to
facilitate Customer selecting the Agent thru which Customer wants to load
money.
6. Reservations:
6.1 The collection, verification,
audit and maintenance of correct and updated Customer information is a
continuous process and SPPL reserves the right, at any time, to take steps
necessary to ensure compliance with all relevant and applicable KYC
requirements.
6.2 SPPL reserves the right to
discontinue the Services and/or reject the KYC documents at anytime at their
sole discretion, if there are discrepancies in the information provided by the
Customer or Agent and the particulars provided by the Customer or Agent in the
KYC documents do not match the details mentioned in the AOF. In such cases, SPPL
reserves the right to take appropriate action as they may deem fit and proper
without incurring any liability in any manner whatsoever.
6.3 SPPL reserves the right to
suspend and/or discontinue the SahiPe Wallet Services at anytime, without
giving prior intimation to the Customer, for any one of the following reasons,
including but not limited to:
6.3.1 For any suspected violation of
any rules, regulations, orders, directions, notifications is-sued by RBI from
time to time or for any violation of these Terms and Conditions.
6.3.2 For any discrepancy or suspected
discrepancy in the particular(s) or documentation or AOF provided by the Agent.
6.3.3 To combat potential fraud,
sabotage, will full destruction, threat to national security or for any other
force majeure reasons (more particularly detailed in clause 15 herein below)
etc.
6.3.4 In order to comply with any
applicable laws and regulations.
6.3.5 For any technical failure,
modification, upgradation, variation, relocation, repair, and/or maintenance
due to any emergency or for any other technical reasons.
6.3.6 For any transmission deficiencies
caused by topographical and geographical constraints/limitations.
6.3.7 If the Alliance Telecom Operator
Provider’s connection with which the Customer’s SahiPe Wallet Account ceases to
be operational.
6.3.8 On account of ineligibility of
the Customer under any criteria as mandated by SPPL. However, prior to such
suspension/ discontinuance of the SahiPe Wallet Services, the Customer, at the
sole discretion of SPPL, shall be provided with the ability to transfer and/ or
utilize the balances lying in the SahiPe Wallet Account.
6.4 In the event of occurrence of
Transactions that may be construed as dubious or undesirable, SPPL reserves the
right to freeze operations in such SahiPe Wallet Accounts and /or close the SahiPe
Wallet Account including reporting to authorities as may be required as per
applicable regulations and as may be deemed fit and proper.
6.5 In case of network failure or for
any other reason beyond the control of SPPL, there could be delay or failure to
complete the Transaction. SPPL reserves the right to cancel the Transaction in
case of any network failure. SPPL shall not be responsible for any kind of
losses that may occur to the Customer due to such delay of failure to complete
Transactions.
6.6 SPPL reserves the right to reject
the Application along with the KYC and any documents of the Customer or Agent
without providing any reason. SPPL reserves the right to retain such AOF and
documents and photographs submitted along with it.
7. Customer/Agent
conduct on the Mobile Phone Application & Website:
7.1 If SPPL requests registration
information from Customer or Agent, then in such case Customer or Agent will
promptly provide SPPL with true, accurate, current, and complete information.
7.2 Customer / Agent will promptly
update their registration to keep it accurate, current, and complete.
7.3 If SPPL issues Customer / Agent a
password, Customer / Agent must not reveal it to anyone else for safety of
their SahiPe Wallet.
7.4 Customer / Agent are responsible
for maintaining the confidentiality of their accounts and passwords.
7.5 Customer / Agent agree to
immediately notify SPPL of any unauthorized use of their passwords or accounts
or any other breach of security.
7.6 Customer / Agent also agree to
exit from their accounts at the end of each session.
7.7 SPPL will not be responsible for
any loss or damage that may result if Customer / Agent fail to comply with
above requirements.
7.8 The technology and the software
underlying its websites/app and the Services is the property of SPPL & its
affiliates, and its partners or licensors or associates.
7.9 Customer / Agent agree not to
copy, modify, rent, lease, loan, sell, assign, distribute, reverse engineer,
grant a security interest in, or otherwise transfer any right to the technology
or software underlying its website/app or the Services.
7.10 Customer / Agent agree not to
modify the software underlying its website/app in any manner or form or to use
modified versions of such software, including (without limitation) for the
purpose of obtaining unauthorized access to its website/app.
7.11 Without limiting the foregoing,
Customer / Agent agree that Customer / Agent will not use the services offered
through its website/app to take any of the following actions.
(a) Obscene, offensive, indecent,
racial, hatred to religion, anti-national, objectionable, defame, abuse,
harass, stalk, threaten, or otherwise violate the legal right of others.
(b) Publish, post, upload, e-mail,
distribute, or disseminate (collectively, “Transmit”) any
inappropriate, profane, defamatory, infringing, obscene, indecent, or unlawful
content.
(c) Transmit files that contain
viruses, corrupted files, or any other similar software or programs that may
damage or adversely affect the operation of another person’s computer, its web-
site/app, any software or hardware, or telecommunications equipment.
(d) Advertise or offer to sell any
goods or services for any commercial purpose unless Customer/Agent have its
written consent to do so.
(e) Transmit websites /app, services,
products, surveys, contests, pyramid schemes, spam, unsolicited advertising or
promotional materials, or chain letters.
(f) Download any file, recompile, or
disassemble or otherwise affect its products that Customer / Agent know or
reasonably should know cannot be legally obtained in such manner.
(g) Falsify or delete any author
attributions, legal or other proper notices or proprietary designations or
labels of the origin or the source of software or other material.
(h) Restrict or inhibit any other user
from using and enjoying any public area within its websites/app
(i) Collect or store personal
information about other end users.
(j) Interfere with or disrupt its
websites/app, servers, or networks.
(k) Impersonate any person or entity,
including, but not limited to, a representative of SPPL or falsely state or
otherwise misrepresent your affiliation with a person or entity.
(l) Forge headers or manipulate
identifiers or other data in order to disguise the origin of any content
transmitted through its websites/app or to manipulate your presence on its
websites/app
(m) Take any action that imposes an
unreasonably or disproportionately large load on its infrastructure/ network.
(n) Engage in any illegal activities.
(o) Customer / Agent agree to use its
bulletin board services, chat areas, news groups, forums, communities and/or
message or communication facilities (collectively, the \”Forums\”)
only to send and receive messages and material that are proper and related to
that particular Forum.
(p) Unauthorized access to its
website/app is a breach of these Terms and a violation of the law.
(q) Customer / Agent agree not to
access its website/app by any means other than through the interface that is
provided by SPPL for use in accessing its website/app.
(r) Customer / Agent agree not to use
any automated means, including, without limitation, agents, robots, scripts, or
spiders, to access, monitor, or copy any part of its website/app, except those
automated means that SPPL have approved in advance and in writing.
(s) Use of its website/app is subject
to existing laws and the Terms. Any violation by Customer /Agent of any terms
of this Terms and Condition or the laws of land may result in severe civil and criminal
prosecution under respective laws, penalties, forfeiture of SahiPe Wallet
Balance, sus-pension of SahiPe Wallet Account, blacklisting on all SPPL
website/app, and intimation/disclosure to the third-to-third parties to whom SPPL
deems necessary.
(t) All rights reserved. Any rights not
expressly granted herein are reserved. Violators may be prosecuted to the
maximum extent possible.
(u) Nothing contained in these Terms
shall limit its right to comply with governmental, court, and law enforcement
requests or requirements relating to their use of its website/app.
7.12 In accessing www.sahipe.com web pages/app, Customer agrees that Customer
may only access the content for their own personal non-commercial use.
7.13 Customer shall also not include
excerpts or limited portions of information from www.sahipe.com /app in printed memos, reports, and
presentations or any other manner.
7.14 SahiPe Requests Customer / Agent to inform them in
writing to remove certain content from its website/app, if they believe that
content have been copied, are offensive and have been published in a manner
that violates their intellectual property rights.
8. Copyright:
All rights, including
copyright/trademark, in the content of www.sahipe.com web-pages/app is either owned or controlled
by SPPL or used with due permission of the owner of that right. In
accessing www.sahipe.com pages/app,
Customer / Agent agree that Customer / Agent may only access the content for
their own personal non-commercial use.
Except where expressly stated
otherwise, you are not permitted to copy, broadcast, download, store (in any
medium), transmit, show or play in public, adapt or change in any way the
content of www.sahipe.com web pages/app
for any other purpose whatsoever without the prior writ- ten permission of SPPL.
Use for any other purpose is expressly prohibited by law, and may result in
severe civil and criminal penalties. Violators will be prosecuted to the
maximum extent possible.
9. Refund
Policy:
9.1 All sales/ Money Transfer / Bill
Payments / Recharges are final with no refund or exchange permitted.
9.2 Customer / Agent are responsible
for the mobile number, DTH account number, utility identification number, bank
account number and details for Purchases / Money Transfer / Bill Payments /
Recharges and all charges that result from those Purchases / Money Transfer /
Bill Payments / Recharges.
9.3 SPPL is not responsible for any
Purchase / Money Transfer / Bill Payment / Recharges for an incorrect mobile
number, DTH account number, utility identification number, and bank account number.
9.4 However, if in a transaction
performed by Customer on the Site, money has been charged to their card or bank
account or SahiPe Wallet and a Purchase / Money Transfer / Bill Payments/
Recharges are not successful within 72 hours of their completion of the
transaction, then Customer may inform us by sending an email to our customer
services email address mentioned on the Contact Us page.
9.5 Please include in the email the
following details – the mobile number / DTH account number/Utility
identification number / bank account, operator name, Transaction value,
Transaction date and Order Number. SPPL shall investigate the incident and if
it is found that money was indeed charged to Customer’s card or bank account or
SahiPe Wallet without delivery of the Recharge then Customer will be refunded
the money within 21 working days from the date of receipt of their email. All
Refunds will be credited to your Semi Closed Wallet.
10. Termination:
Agreement Violations:
Customer agrees that SPPL, in its sole
discretion, for any or no reason, and without penalty, may suspend or terminate
their account (or any part thereof) or their use of the Services and remove and
discard all or any part of their account, Customer profile, or their recipient
profile, at any time. SPPL may also in its sole discretion and at any time
discontinue providing access to the Services, or any part thereof, with or
without notice. Customer agrees that any termination of their access to the
Services or any account Customer may have or portion thereof may be effected
without prior notice, and Customer agrees that SPPL will not be liable to
Customer or any third party for any such termination. Any suspected fraudulent,
abusive or illegal activity may be referred to appropriate law enforcement
authorities. These remedies are in addition to any other remedies SPPL may have
at law or in equity. Upon termination for any reason, Customer agrees to
immediately stop using the Services. Any balance in your wallet, at the time of
termination of service, would be refunded to you as per RBI guideline.
11. Limitation
of Liability and Damages:
In no event will SPPL or its
contractors, agents, licensors, partners, suppliers be liable to Customer for
any special, indirect, incidental, consequential, punitive, reliance, or
exemplary dam-ages (including without limitation lost business opportunities,
lost revenues, or loss of anticipated profits or any other pecuniary or
non-pecuniary loss or damage of any nature whatsoever)arising out of or
relating to (i) this agreement, (ii) the services, the site or any reference
site, or (iii) their use or inability to use the services, the site (including
any and all materials) or any reference sites, even if SPPL or a SPPL
authorized representative has been advised of the possibility of such damages.
In no event will SPPL or any of its contractors, directors, employees, agents,
third party partners, licensors or suppliers’ total liability to you for all
damages, liabilities, losses, and causes of action arising out of or relating
to (i) this Agreement, (ii) the Services, (iii) their use or inability to use
the Services or the Site (including any and all Materials) or any Reference
Sites, or (iv) any other interactions with SPPL, however caused and whether
arising in contract, tort including negligence, warranty or otherwise, exceed
the amount paid by Customer, if any, for using the portion of the Services or
the Site giving rise to the cause of action or One Hundred Rupees (Rs.100),
whichever is less. Customer acknowledge and agree that SPPL has offered its
products and services, set its prices, and entered into this agreement in
reliance upon the warranty disclaimers and the limitations of liability set
forth herein, that the warranty disclaimers and the limitations of liability
set forth herein reflect a reasonable and fair allocation of risk between
Customer and SPPL, and that the warranty disclaimers and the limitations of
liability set forth herein form an essential basis of the bargain between
Customer and SPPL. SPPL would not be able to provide the services to Customer
on an economically reasonable basis without these limitations. Applicable law
may not allow the limitation or exclusion of liability or incidental or
consequential damages, so the above limitations or exclusions may not apply to
Customer. In such cases, SPPL’s liability will be limited to the fullest extent
permitted by applicable law. This paragraph shall survive termination of this
Agreement.
12. Indemnification:
Customer agrees to indemnify, save, and
hold SPPL / Agent, its affiliates, contractors, employees, officers, directors,
agents and its third party suppliers, licensors, and partners harmless from any
and all claims, losses, damages, and liabilities, costs and expenses, including
without limitation legal fees and expenses, arising out of or related to their
use or misuse of the Services or of the Site, any violation by Customer of this
Agreement, or any breach of the representations, warranties, and covenants made
by Customer herein. SPPL reserves the right, at their expense, to assume the
exclusive defense and control of any matter for which Customer is required to
indemnify SPPL / Agent, including rights to settle, and Customer agrees to
cooperate with SPPL’s defense and settlement of these claims. SPPL will use
reasonable efforts to notify. Customer of any claim, action, or proceeding
brought by a third party that is subject to the fore-going indemnification upon
becoming aware of it. This paragraph shall survive termination of this
Agreement.
13. Disclaimer;
No Warranties:
To the fullest extent permissible
pursuant to applicable law, SPPL and its third-party partners, licensors, and
suppliers disclaim all warranties, statutory, 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 Customer from SPPL or through
the services or the site will create any warranty not expressly stated herein.
Customer expressly acknowledge that as used in this section, the term “SPPL”
includes SPPL’s officers, directors, employees, shareholders, agents,
licensors, subcontractors and affiliated companies. Customer acknowledges that SPPL
is a reseller of Mobile recharges and is not liable for any 3rd party (Telco’s
& suppliers) obligations due to rates, quality, and all other instances,
whether to any such telco’s subscribers or otherwise. Customer expressly agrees
that use of the services and the site is at your sole risk. It is Customer’s
responsibility to evaluate the accuracy, completeness and usefulness of all
opinions, advice, services, merchandise and other information provided through
the site or on the internet generally. We do not warrant that the service will
be uninterrupted or error-free or that defects in the site will be corrected.
The services and the site and any data, information, third party software,
reference sites, services, or software made available in conjunction with or
through the services and the site are provided on an “as is” and
“as available,” “with all faults” basis and without
warranties or representations of any kind either express or implied. SPPL, and
its third-party suppliers, li- censors, and partners do not warrant that the
data, SPPL software, functions, or any other in- formation offered on or
through the services, the site or any reference sites will be uninterrupted, or
free of errors, viruses or other harmful components and do not warrant that any
of the foregoing will be corrected. SPPL 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 the services, the site or any reference
sites in terms of correctness, accuracy, reliability, or otherwise. Customer
understands and agrees that Customer use, access, download, or otherwise obtain
information, materials, or data through the services, the site or any reference
sites at your own discretion and risk and that you will be solely responsible
for any damage to your property (including your computer system and device) or
loss of data that results from the download or use of such material or data. We
do not authorize anyone to make any warranty on our behalf and Customer should
not rely on any such statement. This paragraph shall survive termination of
this agreement. In no event will SPPL be liable for any incidental,
consequential, or indirect dam-ages (including, but not limited to, damages for
loss of profits, business interruption, loss of programs or information, and
the like) arising out of the use of or inability to use the site.
14. Arbitration:
SPPL may elect to resolve any dispute,
controversy or claim arising out of or relating to these terms and conditions
or Service provided in connection with these terms and conditions by binding
arbitration in accordance with the provisions of the Indian Arbitration &
Conciliation Act, 1996. Any such dispute, controversy or claim shall be
arbitrated on an individual basis and shall not be consolidated in any
arbitration with any claim or controversy of any other party. The arbitration
shall be conducted in New Delhi, India and judgment on the arbitration award
may be entered in any court having jurisdiction thereof. Either Customer or SPPL
may seek any interim or preliminary relief from a court of competent
jurisdiction in New Delhi, India, necessary to protect the rights or the
property of Customer or SPPL (or its agents, suppliers, and sub-contractors),
pending the completion of arbitration. Any arbitration shall be confidential,
and neither Customer nor SPPL may disclose the existence, content or results of
any arbitration, except as may be required by law or for purposes of the
arbitration award. All administrative fees and expenses of arbitration will be
divided equally between Customer and SPPL. In all arbitrations, each party will
bear the expense of its own lawyers and preparation. The language of
Arbitration shall be English.
15. Governing
Law:
Except as otherwise agreed by the
parties or as described in the Arbitration section above, you agree that any
claim or dispute Customer may have against SPPL must be resolved by a court
located in New Delhi, India. Customer agrees to submit to the personal
jurisdiction of the courts located within New Delhi, India for the purpose of
litigating all such claims or disputes. This term of Agreement shall be
governed by the laws of India, without giving effect to any principles of
conflicts of law.
16. Modifications
of Terms and Condition:
SPPL has the right, in it sole and
absolute discretion, to change, modify, or amend any portion of the Terms and
Conditions at any time. The changes will become effective, and shall be deemed
accepted by you, after the initial posting and shall apply on a going-forward
basis with respect to transactions initiated after the posting date. In the
event that you do not agree with any such modification, your sole and exclusive
remedy is to terminate your use of the Services.
17. Severability:
If any provision of this Agreement is
held to be unlawful, void, invalid or otherwise unenforceable, then that
provision will be limited or eliminated from this Agreement to the minimum ex-
tent required, and the remaining provisions will remain valid and enforceable.
18. Assignment:
This Agreement, and any rights granted
hereunder, may not be transferred or assigned by Customer without SPPL prior
written consent which may be withheld in our sole discretion, but maybe
assigned by SPPL without restriction. Any assignment attempted to be made in
violation of this provision shall be void and of no effect.
19. Force
Majeure:
19.1 SPPL shall inform the Customer of
the existence of a Force Majeure Event and shall consult together to find a
mutually acceptable solution. “Force Majeure Event” means any event
due to any cause beyond the reasonable control of SPPL, including, without
limitation, unavailability of any communication system, breach or virus in the
processes or payment mechanism, sabotage, fire, flood, explosion, acts of God,
civil commotion, strikes or industrial action of any kind, riots, insurrection,
war, acts of government, computer hacking, unauthorized access to computer data
and storage device, computer crashes, breach of security and encryption, etc.
19.2 SPPL shall not be liable for any
failure to perform any of its obligations under these terms or the specific
terms and conditions if the performance is prevented, hindered or delayed by a
Force Majeure Event and in such case its obligations shall be suspended for so
long as the Force Majeure Event continues.
20. Entire
Agreement:
This is the entire agreement between
Customer and SPPL relating to the subject matter here of and will not be
modified except in writing, signed by both parties, or by a change to this
Agreement made by SPPL in accordance with the terms of this Agreement.
21. Full KYC of
the PPI holder
21.1 The cash loading in such wallets
shall not exceed Rs 49,500 per month.
21.2 The amount outstanding at any
point of time in such wallets shall not exceed Rs.1,00,000/-
21.3 Each sender shall be allowed to
add only 5 beneficiaries per day.
21.4 Fund transfer at SahiPe is only
possible if the beneficiary is pre-registered. customers can register the
beneficiary by providing bank account details of the beneficiary.
21.5 For each beneficiary, The funds
transfer limit shall not exceed Rs.1,00,000/- per month per beneficiary.
21.6 The PPI holder may at their
discretion set fund transfer limits on their wallet by contacting the customer
care. The customer care after due verification process shall implement the transfer
limits within 48 working hours. The customer shall be informed of the transfer
limit set by call or sms.
21.7 SPPL shall also give an option to
close the PPI and transfer the balance as per the applicable limits of this
type of PPI. For this purpose, the SPPL shall provide an option, including at
the time of issuing the PPI, to the holder to provide details of pre-designated
bank account or other PPIs of same issuer (or other issuers as and when
permitted) to which the balance amount available in the PPI shall be
transferred in the event of closure of PPI, expiry of validity period of such
PPIs, etc.
21.8 The features of such PPIs shall
be clearly communicated to the PPI holder by SMS.
21.9 SPPL shall clearly indicate the
expiry period of the PPI to the customer at the time of issuance of PPIs. Such
information shall be clearly enunciated in the terms and conditions of sale of PPI.
Where applicable, it shall also be clearly outlined on the website / mobile
application of the issue.
21.10 SPPL has a 5 minutes cooling
minutes for funds transfer upon opening the PPI so as to mitigate the
fraudulent use of PPIs.
21.11 SPPL shall also give an option to
close the wallet and transfer the balance as per the applicable limits. For
this purpose, the SPPL shall provide an option, including at the time of
issuing the wallet, to the holder to provide details of pre-designated bank
account or other wallets of SPPL (or other SPPL as and when permitted) to which
the balance amount available in the wallet shall be transferred in the event of
closure of wallet, expiry of validity period of such wallets, etc.
21.12 The features of wallets shall be
clearly communicated to the PPI holder by SMS / e-mail /post or by any other
means at the time of issuance of the PPI / before the first loading of funds.
21.13 The wallet holders are permitted
to redeem the outstanding balance in the wallet, if for any reason the scheme
is being wound-up or is directed by RBI to be discontinued.
22. Customer
Management Policy
22.1 Customer
Liability
A customerБ─≥s liability arising out of
an unauthorized payment transaction will be limited to:
|
Customer
liability in case of unauthorised electronic payment transactions through a
PPI
|
|
S. No.
|
Particulars
|
Maximum
Liability of Customer
|
|
|
|
|
(a)
|
Contributory
fraud / negligence / deficiency on the part of the SPPL, including PPI-MTS
issuer (irrespective of whether or not the transaction is reported by the
customer)
|
Zero
|
|
|
|
|
(b)
|
Third
party breach where the deficiency lies neither with SPPL nor with the
customer but lies elsewhere in the system, and the customer notifies SPPL
regarding the unauthorised payment transaction. The per transaction customer
liability in such cases will depend on the number of days lapsed between the
receipt of transaction communicationby the customer from the SPPL and the
reporting of unauthorised transaction by the customer to the SPPL –
|
|
|
|
|
|
i.
Within three days#
|
Zero
|
|
|
|
|
ii.
Within four to seven days#
|
Transaction
value
|
|
|
|
|
iii.
Beyond seven days#
|
The
customer is liable
|
|
|
|
|
(c)
|
In
cases where the loss is due to negligence by a customer, such as where he /
shehas shared the payment credentials, the customer will bear the entire loss
until he / she reports the unauthorised transaction to the SPPL. Any loss
occurring afterthe reporting of the unauthorised transaction shall be borne
by the SPPL.
|
|
|
|
|
(d)
|
SPPL
may also, at their discretion, decide to waive off any customer liability in
caseof unauthorised electronic payment transactions even in cases of customer
negligence.
|
|
|
|
# The number of days mentioned above
shall be counted excluding the date of receiving the communication from SPPL.
The above shall be clearly communicated
to all Wallet holder.
22.2 Reversal
timeline for zero liability / limited liability of a customer
22.2.1 On being
notified by the customer, the SPPL shall credit (notional reversal) the amount
involved in the unauthorized electronic payment transaction to the customerБ─≥s
PPI within 10days from the date of such notification by the customer (without
waiting for settlement of insurance claim, if any), even if such reversal
breaches the maximum permissible limit applicable to that type / category of
PPI. The credit shall be value-dated to be as of the date of the unauthorized
transaction.
22.2.2 Further, SPPLs
shall ensure that a complaint is resolved and liability of the customer, if
any, established within such time, as may be specified in the SPPLБ─≥s Board
approved policy, but not exceeding 90 days from the date of receipt of the
complaint, and the customer is compensated as per provisions of paragraph 2.1
above. In case the SPPL is unable to resolve the complaint or determine the
customer liability, if any, within 90 days, the amount as pre- scribed in
paragraph 1.1 shall be paid to the customer, irrespective of whether the
negligenceis on the part of customer or otherwise
22.3 Board
approved policy for customer protection
22.3.1 Considering the
risks arising out of unauthorised debits to PPIs owing to customer negligence /
SPPL negligence / system frauds / third party breaches, SPPLs need to clearly
define the rights and obligations of customers in case of unauthorised payment
transactions in specified scenarios. SPPLs shall formulate / revise their
customer management policy, with approval of their Boards, to cover aspects of
customer protection, including the mechanism of creating customer awareness on
the risks and responsibilities involved in electronic payment transactions and
customer liability in such cases of unauthorised electronic payment
transactions. The policy must be transparent, non-discriminatory and should
stipulate the mechanism of compensating the customers for the unauthorised
electronic payment transactions and pre- scribe the timelines for effecting
such compensation. SPPLs shall provide the details of their Board approved
policy in regard to customersБ─≥ liability formulated in pursuance of the
provisions of paragraph 15 and 16 of PPI MD, to all customers at the time of
issuing the PPI. SPPLs shall display their Board approved policy, along with
the details of grievance handling / escalation procedure, in public domain /
website / app for wider dissemination
22.3.2 We will educate
our customers quarterly for the security purpose for account handling,
transactions, dos and donts.
22.4 Burden of
proof
The burden of proving customer
liability in case of unauthorised electronic paymenttransactions shall lie on
the SPPL.
23. Reporting
and monitoring requirements:
23.1 SPPLs shall put in place a
suitable mechanism and structure for reporting of the customer liability cases
to the Board or one of its Committees. The reporting shall, inter-alia, include
volume / number of cases and the aggregate value involved and distribution
across various categories of cases. The Board or one of its Committees shall
periodically review the unauthorised electronic payment transactions reported
by customers or otherwise, as also the action taken thereon, the functioning of
the grievance redressal mechanism and take appropriate measures to improve the
systems and procedures.
23.2 SPPL shall provide an option for
the Wallet holder to generate / receive account statements for at least past 6
months. The account statement shall, at the minimum, provide de- tails such as
date of transaction, debit / credit amount, net balance and description of
trans- action. Additionally, the SPPL shall provide transaction history for at
least 10 transactions.
23.3 In case of PPIs issued by banks,
customers shall have recourse to the Banking Ombudsman Scheme for grievance
redressal.
23.4 SPPLs shall report regarding the
receipt of complaints and action taken status thereon in the enclosed format on
a Quarterly basis by the 10th of the following month to the respective Regional
Office of DPSS, RBI. Banks shall submit the same report to DPSS, Mumbai
Regional Office, RBI.
23.5 SPPL shall ensure transparency in
pricing and the charge structure as under:
a. Ensure uniformity in charges at
agent level.
b. Disclosure of charges for various
types of transactions on its website, mobile app, agent locations, etc.
c. Specific agreements with agents
prohibiting them from charging any fee to the customers directly for services
rendered by them on behalf of the SPPL.
d. Require each retail outlet /
sub-agent to post a signage indicating their status as service providers for
the PPI issuer and the fees for all services available at the outlet.
e. The amount collected from the
customer shall be acknowledged by issuing a receipt (printed or electronic).
23.6 SPPL shall be responsible for
addressing all customer service aspects related to all PPIs (including
co-branded PPIs) issued by them as well as their agents.
23.7 SPPL shall also display
Frequently Asked Questions (FAQs) on their website / mobile app related to the
PPIs.
24. Information
System Audit
24.1 Authorised non-bank entities
shall submit the System Audit Report, including cyber security audit conducted
by CERT-IN empanelled auditors, within two months of the close of their
financial year to the respective Regional Office of DPSS, RBI.
24.2 Banks shall also be guided by the
RBI circular DBS.CO/CSITE/BC.11/33.01.001/2015-16 onCyber
Security Framework in Banks dated June 02, 2016, which inter alia, covers
requirements for mobile-based applications.
24.3 The scope of the Audit shall
include the following:
(a) Security controls shall be tested
both for effectiveness of control design (Test of Design ToD) and control
operating effectiveness (Test of Operating Effectiveness ToE).
(b) Technology deployed so as to ensure
that the authorised payment system is being operated in a safe, secure, sound
and efficient manner.
(c) Evaluation of the hardware
structure, operating systems and critical applications, security and controls
in place, including access controls on key applications, disaster recovery
plans, training of personnel managing systems and applications, documentation,
etc.
(d) Evaluating adequacy of Information
Security Governance and processes of those which support payment systems.
(e) Compliance as per security best
practices, specifically the application security lifecycle and patch /
vulnerability and change management aspects for the authorised system and
adherence to the process flow approved by RBI.
(f) Comment on the deviations, if any,
in the processes followed from the process flow submitted to RBI while seeking
authorisation.
24.4 SPPL shall, at the minimum, put
in place following framework:
(a) Application Life Cycle Security:
The source code audits shall be conducted by profession-ally competent
personnel / service providers or have assurance from application providers /
OEMs that the application is free from embedded malicious / fraudulent code.
(b) Security Operations Centre (SOC):
Integration of system level (server), application level logs of mobile
applications (PPIs) with SOC for centralised and co-ordinated monitoring and
management of security related incidents.
(c) Anti-Phishing: SPPL shall subscribe
to anti-phishing / anti-rouge app services from external service providers for
identifying and taking down phishing websites / rouge applications in the wake
of increase of rogue mobile apps / phishing attacks.
(d) Risk-based Transaction Monitoring:
Risk-based transaction monitoring or surveillance process shall be implemented
as part of fraud risk management system.
(e) Vendor Risk Management:
(i) PPI issuer shall enter into an
agreement with the service provider that amongst others provides for right of
audit / inspection by the regulators of the country;
(ii) RBI shall have access to all
information resources (online / in person) that are consumed by PPI provider,
to be made accessible to RBI officials when sought, though the infrastructure /
enabling resources may not physically be located in the premises of PPI
provider;
(iii) SPPL shall adhere to the relevant
legal and regulatory requirements relating to geo- graphical location of
infrastructure and movement of data out of borders
(iv) PPI issuer shall review the
security processes and controls being followed by service providers regularly.
(v) Service agreements of SPPL with
provider shall include a security clause on disclosing the security breaches if
any happening specific to issuers ICT infrastructure or process including not
limited to software, application, and data as part of Security incident Management
standards, etc.
(vi) Disaster Recovery: SPPL have DR
facility to achieve the Recovery Time Objective (RTO) / Recovery Point
Objective (RPO) for the PPI system to recover rapidly from cyber- attacks /
other incidents and safely resume critical operations aligned with RTO while ensuring
security of processes and data is protected.
