Terms & Conditions of Use

The below mentioned terms and conditions read with the payment terms and the privacy policy governs the relationship between you and PayMate India Limited (“PayMate”) [previously known as PayMate India Limited formerly known as PayMate India Private Limited].

You are hence requested to read and understand the following terms and conditions, carefully, before registering on, accessing, browsing, downloading or using our website located at www.paymate.in or through any mobile application or API or any similar platform (hereinafter referred to as “PayMate Platform”) owned, managed and controlled by PayMate India, having their registered office at 111, 1st Floor, A-Wing, Sundervilla, S.V.Road, Santa Cruz West, Mumbai – 400054 on any such device and/or before availing any services offered by PayMate on or through this Paymate Platform. A User can opt for the services through the PayMate platform, only when he accepts to abide by all of the Terms and Conditions hereinafter contained.

The access to and use of this PayMate platform is subject to the following terms and conditions of use ("Terms"). The words, “he”, "his", "You" “Your” “User” and "Customer" refer to the person(s) who opens the account and shall include both singular and plural. Reference to masculine shall include the feminine and third gender. The terms may be accepted by individuals or entities/non-individuals such as corporates, private limited companies, public limited companies, trusts, association of persons, public sector undertakings, non-government organisations, partnership firms etc. and the terms within the document need to be construed accordingly irrespective of the usage therein. Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, modifications amendments, re-enactments or replacements as may be applicable, for the time being in force. All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms.

The User shall comply with all such terms and conditions as PayMate may prescribe from time to time with regard to the Services provided by it. All Transactions effected by or through this PayMate platform, shall constitute legally binding and valid transactions between the user and PayMate.

By using the PayMate Platform and/or by availing any products offered by PayMate’s partner institutions/lending partners, banks, financial institutions, NPCI, and technology service providers, card payment networks, (“Facility Providers”) or third parties (“Services”), You understand and agree that PayMate will treat Your use of the Services as acceptance of these Terms from such point of usage. You agree that PayMate reserves the right to update the Services from time to time.

These terms and conditions as accepted by User shall be read along with and in addition to any terms and conditions in force from time to time and issued if any issued by any Service Provider, relating to the usage of this PayMate Platform

It is clarified that the Privacy Policy (that is provided separately), form an integral part of these Terms of Use and should be read contemporaneously with the Terms of Use and by accepting this terms and conditions of use and further by using the PayMate Platform, User hereby confirms that you have read and unequivocally accept and consent to the collection, processing, use, storage and transfer of Your information as we have outlined in our Privacy policy.

Illegality or unenforceability of one or more provisions of these Terms of Use shall not affect the legality and enforceability of the other terms of the Terms of Use. For avoidance of doubt, if any of the provisions becomes void or unenforceable, the rest of the provisions of these Terms of Use shall be binding upon the User.

The User is solely and exclusively responsible for understanding and complying with all applicable laws of your specific jurisdiction, including but not limited to the provisions of the RBI Guidelines on Regulation of Payment Aggregators and Payment Gateways dated 17th April 2020 and any other notifications issued by RBI from time to time, Payment and Settlement Systems Act, 2007, the Directions issued by Indian Computer Emergency Response Team (CERT-In) under Section 70B(6) of the Information Technology Act, 2000 (“IT Act”) and the Information Technology (The Indian Computer Emergency Response Team and Manner of Performing Functions and Duties) Rules, 2013, Prevention of Money Laundering Act, 2002, Know Your Customer (KYC) / Anti-Money Laundering (AML) / Combating Financing of Terrorism (CFT) guidelines issued by the Department of Regulation, RBI (the "KYC GUIDELINES") etc., as may be modified from time to time that may be applicable to the user in connection with the business and use of PayMate Services.

This terms and conditions of use is an electronic record in terms of the Information Technology Act, 2000 and rules thereunder as applicable and amended from time to time. This electronic record is generated by an electronic system and does not require any physical or digital signatures.

 

Paymate reserves the right to change or modify the Content, or information appearing on or in connection with this Paymate platform, including these Terms at any time without notice to the User. Paymate may at any time revise these Terms of Use by updating this posting. The user is bound by such revisions and should therefore do visit these pages to review the current Terms of Use from time to time. All future Changes shall be notified once you log in into your account and please ensure to read and keep updated of the terms and conditions from time to time. By continuing to access the PayMate Platform or use the Services on or after the Effective Date of the revised Terms, the User agrees to have read, understood and also be bound by the revised Terms.

 

2.1. For the purpose of these Terms, the following words and phrases shall have the meaning assigned to them under this Article.

2.1.1 “Acquiring bank" :-
means any bank or financial institution that processes debit card or credit card payments of the user

2.1.2 “Card Payment Network Rules "
refer to the written rules, regulations, releases, guidelines, processes, interpretations and other requirements (whether contractual or otherwise) imposed and adopted by the card payment networks.

2.1.3 "Services" :-
means the service provided by PayMate, Facility Providers and Service Providers, if any, to Users, whereby a User can (i) receive payments from their vendors or other payers; or (ii) make payment to suppliers, beneficiaries or other payees, or (iii) make settlement by (a) NEFT/RTGS; or (b) credit/ debit card; or (c) net banking; or (d) any other mode of payment or settlement through banks, that may be accepted by PayMate from time to time; or (v) make goods and service tax payments or any other taxes that may be offered for payment by PayMate on the PayMate Platform; or (vi) make utility bill payments or such other services as may be offered by PayMate from time to time and availed and used by the User on the PayMate platform

2.1.4 "User”:-
shall mean any person [ individual resident in India and/or a company/partnership firm/sole proprieXtor/ or entity registered in India] who/which is registered on the PayMate platform for using this PayMate platform and/or who/ which subscribes for the Services through this PayMate platform, to make or to receive payments to or from third parties or to make any settlement. The term "User" shall also cover such personnel of any User who are duly authorized to avail of the Services on behalf of the User.

2.1.5 "Escrow Bank Account”: -
means such bank account maintained by PayMate under the relevant Payment Aggregator guidelines of Reserve Bank of India or under any other law or regulation as may be applicable from time to time

2.1.6 “Escrow Bank ”
means a bank that is authorised by the RBI, to operate an Escrow Bank Account / Nodal Account under Payment Aggregator Guidelines.

2.1.7 “Payee”: -
means any person to whom a payment is made, using the Services, (and the term includes a User who uses the Services to receive payment).

2.1.8. “Payer” :-
means any person who makes a payment, using the Services (and the term includes a User who uses the Services to make payment) and for tax payments or utility bill payments it means a person on whose behalf the User has paid taxes or utility bills using PayMate Services.

2.1.9”Payment Aggregator Guidelines ”
means, as applicable, the RBI circular DPSS.CO.PD.NO.1102/02.14.08/2009-10 dated November 24, 2009 or DPSS.CO.PD.No.1810/02.14.008/2019-20 dated March 17, 2020, including any amendments, clarifications, FAQs, etc. which may be issued from time to time.

2.1.10” Permissible Deductions ”
means (a) fees charged by PayMate; (b) Chargeback Amount including fines and penalties; and (c) any other sum due and payable by You to PayMate including but not restricted to fines, penalties or any such amount levied under this services by the Service Providers or RBI

2.1.11 “Products”:-
mean any services or products which are purchased/ offered for sale by a User to third parties from time to time, Products shall not include those banned products and services that are listed in Annexure A.

2.1.12. “Service Provider”: -
means a bank, association, facility provider, card issuing institution, acquiring bank, other financial institution, card processor, clearing house networks or any such vendors or service providers, that PayMate may engage with from time to time to provide the services

2.1.13 “Transaction”:-
means a payment instruction that results in the successful transfer of monies or settlement (a) from a User to a Payee; or (b) from a Payer to a User.

2.1.14 “Transaction Amount”:-
means the total amount payable/ receivable by a User/Payee. This amount shall include all applicable taxes, charges, interest, delivery costs, commissions and other such incidental charges etc.

2.1.15 “API”:-
Application programming interface (API) is a set of subroutine definitions, communication protocols and tools for building software and implies a software code that allows two software programs to communicate with each other.

2.1.16 “Affiliate” –
i) any natural person, partnership, corporation, association, or other legal entity directly or indirectly owning, controlling, or holding with power to vote 10% or more of the outstanding voting securities of the user; (ii) any partnership, corporation, association, or other legal entity 10% or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote by the user; (iii) any natural person, partnership, corporation, association, or other legal entity directly or indirectly controlling, controlled by, or under common control with, user; or (iv) any officer or director of the user. Notwithstanding the foregoing, “affiliates” for purposes of this Section 2 shall include only those persons acting on behalf of the user and performing services for the user within the scope of the authority of the user, as set forth in this Agreement.

 

To be eligible to use the PayMate Services, User must be (a) an entity eligible and registered to carry out business or operate in India; or (b) an individual who is at least 18 years old and a resident of India. The PayMate platform and Services are intended solely for persons who can form legally binding contracts under Indian Contract Act, 1872 and who are 18 years of age or older and anyone who is not previously suspended or removed by PayMate from availing the PayMate Services or accessing the PayMate Platform. Any access to or use of the PayMate platform or Services by anyone under 18 is expressly prohibited. User also confirms and declares that his payer/ Payee is similarly competent to contract. A User represents and warrants that he has full power and authority for using the Services and is in strict compliance of all laws as applicable from time to time. Finally, the User also represents not to impersonate any person or entity, or falsely state or otherwise misrepresent his identity, age or affiliation with any person or entity.

 

In order to avail the Services, User must be registered with PayMate and the Service Providers, if required. User shall provide PayMate with all such identification and address proof documents as may be required by PayMate. By registering with PayMate, User agrees to provide true, accurate, current and complete information, failing which PayMate may at any time reject User’s registration and terminate his right to use or access the PayMate platform and/or Services.

The User’s onboarding on PayMate Platform shall take place in accordance with our internal Merchant Onboarding and Know Your Customer Policy as well as guidelines prescribed by the Reserve Bank of India or any other regulatory authority.

The User shall be required to submit to PayMate all the necessary documents and details as may be required by PayMate to complete Your onboarding in accordance with our internal Merchant Onboarding and Know Your Customer Policy as well as guidelines prescribed by the Reserve Bank of India or any other regulatory authority.

The User’s failure to share the required documents or details in accordance with our internal Merchant Onboarding and Know Your Customer Policy shall entitle PayMate to put the User’s onboarding on hold. PayMate may also refrain from providing access to the PayMate Platform or Services in the event, User fails to provide such documents as required by PayMate. PayMate may choose to on a case-to-case basis activate certain Services in case the documents as sought by PayMate are not provided by the User. However, such an accommodation will not entitle the User to continue with the use of Services unless the KYC exercise is completed in accordance with the applicable law.

The User shall ensure that the documents so provided are true and correct. The User shall also provide the original of the documents so produced to PayMate to complete the exercise related to onboarding for verification.

When User registers on the PayMate, a User Account will be created, that is associated with User’s name, password and other identifying information. User shall be responsible for anything that happens through his User Account. User also expressly covenants that the User Account shall be used by him only for his valid and genuine business transactions and not otherwise or for any activity prohibited in Annexure A or for scrupulous/fake transactions. User/Payer/Payee hereby expressly acknowledges, agrees and undertakes not to enter into/ facilitate /carry on or attempt to enter into/ facilitate/ carry on any self-financing transaction [“self – financing” means where the registered user avails or uses the Platform to fund his own business account or that of his spouse or relatives or affiliates] on or through PayMate platform. In the event, the User/Payer or Payee is found to be doing so or attempting to do such self-financing transaction, PayMate shall at its discretion have recourse to take such actions as it deems fit (including suspension of account, investigation etc, levy of fines or penalty, appropriation of funds lying in the user account) as the case may be, including initiating appropriate legal action as may be

By registering with PayMate, User expressly consents to the terms and conditions, payment terms and Privacy Policy. If the User do not feel comfortable with any part of our Terms of Service, he must not use or access the Service. The User expressly undertakes to keep his account information, which includes but not limited to his primary email address, contact number, credit card number, bank account number, communication address, ownership or legal status current and valid and in case of any change in information provided, update his account immediately. In the event of any action/notice by any law enforcement agency or conviction by a court of law, the User shall undertake to forthwith without any delay inform PayMate about the same and keep PayMate updated

By making use of the PayMate Platform, and furnishing the User’s contact details, the User hereby agrees that he is interested in knowing more or availing and/or purchasing various Services that PayMate Platform or any other third party may offer to /provide to the User from time to time through any means including but not limited to telephone, SMS (short messaging service), electronic mail (e-mail), whatsapp or any other messaging service/mobile application or any other physical, electronic or digital means/mode. The User hereby agree that PayMate may contact the User either electronically or through phone, to understand User’s interest in the selected products and Services and to fulfil the User’s demand or complete User’s application. Further, User also expressly agree and authorize PayMate, its partners, service providers, vendors and other third parties to contact the User for the purpose of (i) offering or inviting the User interest in availing other products or services offered by third parties, or (ii) for sending other marketing campaigns, offers, or any other information either on the Website or through other means including but not limited to telephone, SMS (short messaging service), electronic mail (e-mail), whatsapp or any other messaging service/mobile application or any other physical, electronic or digital means/mode.

 

The User will be required to submit the following information while registering:

• Valid Identification and address proof
• Permanent Account Number Card [PAN CARD]
• Business document in case of an entity
• And such other information or document including but not limited to any personal data or sensitive personal data as defined under Applicable Laws and as required to be submitted by the User under the KYC guidelines as applicable from time to time

The User authorises PayMate directly or through third parties, to make any inquiries as PayMate consider necessary to validate the identity, including as necessary to comply with the obligations under applicable laws and regulations. This may include asking the user for further information or documentation, requiring him to provide personal identification documents, valid identity proof and address proof.

 

The Services may be used exclusively by the User for making and receiving payments from and/or to Payer/Payee or making settlement of a valid and legal transaction and/or to make tax payments or make utility bill payments or such other services as may be offered by PayMate from time to time and availed and used by the User on the PayMate platform.

To enable the User to use the Services, a link with login credentials will be communicated to the User on his mobile phone or notified email address and the User irrevocably and unconditionally accepts the sole responsibility for use, confidentiality and protection of said login credentials, including passwords, as well as for all orders and information and changes entered into the mobile/ e mail/web account using such login credentials. For use of services provided by PayMate, the user hereby shall subscribe to a suitable plan as he may deem appropriate and make payment to PayMate as per Payment Terms laid down hereunder.

As a default configuration for the use of the Services, only the admin registered by the User will be able to undertake Transaction on the User Account. For making any change/modification in the default configuration, the User will need to submit a request through his account on PayMate Platform. The User will be notified via email once the requested change is being effected.

The User hereby understands, accepts and acknowledges that he is solely responsible for any loss or damage caused to the User or User’s vendors/customers arising as result of this configuration whether directly or indirectly and shall release PayMate from any such liability arising therefrom.

PayMate has no obligation to verify the authenticity of the Transaction once the transaction is generated through a valid login and authenticated through a password. The User shall at all times take all appropriate steps, including those as mentioned herein, to maintain the security and confidentiality of the information. PayMate shall not be liable for any mistake or misuse of the Services by either the User or by any person authorized by the User, or by any person gaining access to the Services through the User. User agrees that PayMate accepts all instructions originating from his Account in good faith and that they are genuine and are normal business transaction and, in a manner, consistent with commercially reasonable security standards. User shall indemnify and hold PayMate safe and harmless for direct or indirect losses resulted as a result of the disclosure of sensitive information by or through User or for any loss or damage caused to PayMate, its officers and employees or the acquiring bank for any breach of the terms of use/privacy policy/payment terms by the user or his customer or vendor, or for any Intellectual Property infringement claim brought by third party or for any other loss or damage due to security breach

1. On receiving the necessary details from the Service Provider, PayMate shall initiate the required payment to Payee/User/ as instructed by User/ Payer.
2. Confirmation of the Transaction performed using valid login credentials shall be conclusive evidence of a Transaction being effected.
3. User is responsible to furnish PayMate with correct and current Payee or Payer information. In the event that the payment is in respect of a purchase or sale of product or services by the User/Payee, PayMate shall not be required to ensure that the purchased Products and/or services have been duly delivered. In the event a User chooses to complain about a Transaction, the same should be communicated to PayMate within 3 (three) days of the Transaction. The User expressly agrees and warrants that PayMate is only an online intermediary / platform for facilitating the payment or settlement of transaction and hence is not responsible to the User or to any other third party for any wrong payment or defect in products delivered or any other dispute between the user and the payee or with banks.
4. All transactions shall be done in Indian Rupees
5. In case of any request under clause 2.1.2(i) for an amount more than INR 2,00,000/- and is in fraction, PayMate may retain fraction component in the user account and the transaction amount shall be processed through RTGS immediately to the user.
6. In case of tax payment, once the GST and/or other tax payment is processed successfully, the status of the payment will be updated on the GST and/or Direct Tax Portal.

The user shall get a challan confirmation on receipt of the same from the respective tax authorities.

7. In case of tax payments or utility bill payments PayMate will require that the user makes make payments 3 to 4 days in advance to ensure seamless settlement.

 

1. Every User is responsible to (i) furnish correct and accurate information of the Payer/ Payee as may be required, on an independent basis; (ii) furnish to PayMate forthwith on demand, the original copy/copies of proof of delivery of Products, invoices or other records pertaining to any Transaction; (iii) ensure that all licenses and registrations required by him are in full force and effect to enable them to carry on the business of sale/ purchase of Products and rendering of Services and agrees to furnish immediately copies of such licenses on request by PayMate
2. User shall not (i) carry out any activity, which is banned, illegal or immoral, (ii) use the Services in any manner or in furtherance of any activity, which constitutes a violation of any law or regulation or which may cause PayMate to be subject to investigation, prosecution or legal action.
3. User undertakes and assures to PayMate that payments shall not be made/ received in respect of any Products mentioned in the banned items list set out in Annexure A hereto and that payments are been made in under valid business contract with the customer or vendor and the payments are in respect of genuine business transaction
4. User undertakes to inform PayMate if he has any dealing or engages as a vendor/supplier/customer/dealer in any of such prohibited goods at any point of time
5. User shall act in compliance with all laws, rules and regulations and shall at all times comply with the guidelines set by Visa/Master Card/ acquiring banks/ Service Providers, as may be applicable from time to time
6. User shall not sell, provide, exchange, or otherwise disclose to third parties or use themselves (other than for the purpose of completing a Transaction, or as specifically required by law) any personal information about any third party, including the account details and mobile number, without obtaining the prior written consent of such third party.
7. User shall take all precautions as may be feasible or as may be directed by PayMate to ensure that there is no breach of security and that the integrity of the link between their systems/ site, the PayMate platform and the payment mechanism is maintained at all times. In the event of any loss being caused as a result of the link being breached or as a consequence of the link being improper or being in violation of the provisions of this clause, the loss shall be to the account of the User and the User shall indemnify and keep indemnified PayMate and the Service Providers from any loss as may be caused in this regard.
8. User shall bear and be solely and exclusively responsible for the payment of all relevant & applicable taxes (including any applicable withholding taxes) as may be due from time to time
9. A User shall not at any time require any other user or any other person to provide him with any details of the accounts held by the other users with any Banks including, the passwords, account number, card numbers, mobile phone numbers and PIN which may be assigned to them by the Banks from time to time.
10. A User shall use the information regarding a Payee/ Payer (including name, address, e-mail address, telephone numbers and other data) conveyed to him whilst using the Services, only for the purpose of completing the Transaction for which it was furnished, and not to sell or otherwise furnish such information to others unless he has an independent source of such information or obtains the express written consent of such Payee/ Payer.
11. A User shall inform PayMate of any change in his email address, mobile number, address, ownership or legal status or his cessation of business in writing forthwith on such change.
12. User shall not interfere with or damage the PayMate platform, including, without limitation, through the use of viruses, cancel bots, Trojan horses, harmful code, flood pings, denial-of-service attacks, backdoors, packet or IP spoofing, forged routing or electronic mail address information or similar methods or technology.
13. As a condition of use of the Services, the User will not use the Services for any purpose that is unlawful or prohibited by these terms, conditions, or violate the T&Cs. PayMate reserves the right to suspend the user’s PayMate account or restrict use of services or any such other action as PayMate may deem fit [ including but not restricted to such legal recourses as may be available], without any prior notice to the user
14. User shall not impersonate any person or entity, falsely claim or otherwise misrepresent his affiliation with any person or entity, or access the accounts of others without permission, forge another person’s digital signature, misrepresent the source, identity, or content of information transmitted, perform any other similar fraudulent;
15. User shall not infringe Paymate’s or any third party’s intellectual property rights, rights of publicity or privacy;
16. User shall not use the PayMate Services or the Paymate Platform in any manner that could damage, disable, overburden, or impair it, including, without limitation, using the Paymate Services or the Paymate Platform in an automated manner or otherwise;
17. PayMate has the right to investigate and prosecute violation of any of the above to the fullest extent of the law or seek such legal recourse as available.[including but not restricted to indemnify and keep PayMate and its officers, affiliates from any such losses or damages as PayMate may incur on account of such violations and also right to adjust any money lying in the Escrow Bank Account towards losses or damages that PayMate may suffer on account of such violation, without prior notice to the user
18. User shall not use PayMate Services or Paymate Platform for any self-financing activities which includes but not limited to transfer of funds to the Payee against any fake or fraudulent transactions, use of credit card registered in User’s name by any other User/Payer on Paymate Platform, transfer of funds to any subsidiary, holding, associate company of the User or any related party, unless such transfer of funds is towards a genuine transaction between the User and the other Party.
19. PayMate has the right to temporary terminate such User’s access to the PayMate platform. User shall be given a reasonable opportunity of being heard and provide evidences/proof ensuring the validity of the transaction, any failure to prove the validity of the transaction will lead to permanent embargo on the User to access the PayMate Platform. In addition to this, PayMate also has the right to impose penalty or appropriate funds in the user account as it deems fit
20. The User hereby expressly agrees and undertakes not to use this PayMate platform to facilitate any payment or settlement or collect monies from Vendor/Customer who /which is an affiliate.
21. Every User availing GST payment service on PayMate Platform shall ensure that: i) valid login credentials are entered by the User while accessing the GST portal; (ii) correct and accurate amounts are mentioned against respective type of tax heads; (iii) CPIN amount mentioned on the PayMate Platform should be verified; (iv) losses that may incur due to providing of incorrect CPIN or incorrect amounts in the tax heads while making GST payments, User shall be held solely and exclusively responsible in such instances.
22. Every User availing utility bill payment service on PayMate Platform is responsible to (i) furnish correct and accurate information of himself or of the Payer if the User is making payment of utility bill on behalf of the Payer (ii) verify name, address, e-mail address, telephone numbers, utility/consumer account number and other data of the Payer if the User is making utility payment on behalf of the Payer
23. The card payment networks reserve the right to amend their guidelines, rules and regulations. PayMate may be required to amend, modify or change these Terms pursuant to amendments to the Card Payment Network Rules and such amendments, if any, shall be deemed to be binding on the User with immediate effect.
24. The Useragrees to fully comply with all programs, guidelines, requirements that may be published and/ or mandated by the card payment networks. Notwithstanding our assistance in understanding the Card Payment Network Rules, the User expressly acknowledge and agree that You are assuming the risk of compliance with all provisions of the Card Payment Network Rules, regardless of whether the User is aware of or have access to those provisions. Visa and RuPay make excerpts of their respective rules available on their internet sites.
25. In the event that the User’s non-compliance of Card Payment Network Rules, results in any fines, penalties or other amounts being levied on or demanded of us by a card payment network, then without prejudice to our other rights hereunder, the User shall forthwith reimburse us in an amount equal to the fines, penalties or other amount so levied or demanded or spent by us in any manner in relation to such fines, penalties and levies. If the User fail to comply with the obligations towards the card payment networks, PayMate may suspend settlement or suspend/ terminate the Services forthwith.
26. In the event of any dispute between the User and the Payer with respect to the tax payments, Paymate shall not be made a party to any litigation, arbitration or other proceeding instituted in respect of such disputes.

 

A User is required to subscribe to any of the available plans to be able to utilize the Services. The Subscription Fees shall be payable by User as per the subscription plan chosen by him. The various plans available are set out in the Payment Terms. Subscription plans of various durations are available to Users. Payments for subscription plans can be made only by credit card.

A User’s subscription will be automatically renewed at the end of each subscription period unless User downgrades his paid subscription plan to a free plan or informs PayMate that he does not wish to renew the subscription. At the time of automatic renewal, the Subscription Fee will be charged to the credit card last used by a User. PayMate provides Users the option of changing credit card details if he would like the payment for the renewal to be made through a different credit card. If User does not wish to renew the subscription, he must inform PayMate at least seven days prior to the renewal date. If User has not downgraded to a free plan and if User has not informed PayMate that he does not wish to renew the subscription, he will be presumed to have authorized PayMate to charge the Subscription Fee to the credit card last used by him.

A User shall not be entitled to any refunds or credits in respect of the Subscription Fees/ other fees or payments paid by him, even in cases where the User has elected to terminate his subscription to the Services or cancel his Account prior to the end of the period of his subscription.

PayMate may, from time to time, make changes in the subscription plans, Subscription Fees, the prices of any Services or PayMate may charge Users for use of Services that are currently available free of charge. Any such changes made by PayMate will however not apply until the expiry of a User’s existing subscription period/ billing cycle.

PayMate reserves the right to terminate unpaid User accounts that are inactive for a continuous period of 120 days. In the event of such termination, all data associated with such User account will be deleted unless required to be maintained by law as may be applicable. PayMate will provide User prior notice of such termination and option to back-up his data. The data deletion policy of PayMate may be implemented with respect to any or all of the Services.

The acquiring bank will authenticate, authorize, and process the payment instructions given by the Payer in respect of a Transaction upon fulfilment of valid criteria as set forth by the acquiring bank from time to time and accordingly transfer such approved Transaction Amount from the Payer’s bank account to the Escrow Bank Account maintained by PayMate

In consideration of the Services rendered by PayMate to the User, the User shall pay to PayMate a Transaction Fee that is more specifically detailed in the Fee Schedule defined in the Payment Terms

PayMate shall deduct its Transaction Fees plus service tax per successful Transaction and make payment of the balance of the Transaction Amount to User/ Payee’s designated bank account. All other taxes, duties or charges shall be borne and paid by User, unless otherwise agreed between the Parties. PayMate reserves the right to alter / modify / change the discount / commission or transaction fee payable at its discretion at any time without notice to the user.

It is hereby agreed and acknowledged by the User that the transaction fees charged by PayMate in respect of a Transaction that has been settled or completed shall not be returned or repaid by PayMate to the User or any other person irrespective of the Transaction being rejected, charged back, refunded or disputed.

Subject to the above, PayMate shall settle the Transaction Amount (net of Permissible Deductions) into the user’s bank account within time limits as laid down in the Payment Aggregator Guidelines

 

1. PayMate and or the Acquiring Bank will not be responsible for any disputes between the Users and the Payers/ Payees, including issues regarding prices, delivery, non-delivery, deficiency of services or delay in delivery of the Products, quality of Products or services or otherwise. All such disputes will be dealt with by and between the User and the Payer/ Payee directly, and PayMate shall not be a party to such disputes.
2. PayMate cannot and does not guarantee the timings of any payments made or received as such timing is dependent upon User’s or the Payer’s bank, card issuing bank/ card processor (where a credit/ debit card is used), acquiring financial institution and other Service Providers. PayMate assumes no liability and shall not be held responsible for any delays in delivery of payment or availability of funds when using the Services.
3. PayMate and the Acquiring Bank shall not be a party to the contract between the User and any Payer/ Payee in any manner whatsoever. All contracts are directly between Users and their Payers/ Payees.
4. User shall be responsible for any miscommunication or incorrect User/ third party/ other information that may be provided to PayMate at the time of enabling the Services for the User.
5. PayMate/ Service Provider reserve the right to impose limits on the number of Transactions which may be charged on an individual credit card or other account during any time period and reserve the right to refuse to make payments in respect of Transactions exceeding such limit. PayMate also reserves the right to impose limits on each and every amount which may be charged on an individual credit card or other account at any point of time. PayMate/ Service Provider also reserve the right to refuse to make payments in respect of Transactions by Users with a prior history of questionable charges or for any other reason as the case may be
6. PayMate has set up a comprehensive grievance redressal mechanism which provides the procedure for addressing your query/complaints received. This is available at support@paymate.co.in for Level 1 and +918657419140 for Level 2 and the facility is available to user for registering their complaints over phone, email, or any other electronic means.

In case there is no response within the defined timeframe for Level 2 or in case the response provided is not satisfactory, the customer can escalate the matter to the Nodal Officer – PayMate India Limited at details available on our website.

 

a) The User will not hold PayMate liable in case of any improper/ fraudulent/unauthorized/ duplicate/erroneous use of his mobile and/or the web-based access or through any other platform. PayMate will also not be liable for any direct or indirect consequences connected with the use/ misuse of User’s web/ mobile/ e mail account by any third party. If any third parties gain access to the Services, the User will be responsible and shall indemnify PayMate against any liability, costs or damages arising out of such misuse / use by third parties based upon or relating to such access and use, or otherwise.

b) The User shall be fully liable for: (a) any unauthorised use of his mobile/ email account; and/or (b) all authorised Transactions on his web/mobile/email account.

c) Without prejudice to the remedies available to PayMate and these Terms, PayMate shall be under no liability whatsoever to the User in respect of any loss or damage arising directly or indirectly out of:

• any defect in any Products supplied to him or services rendered to him;
• any inability of a third party to supply or deliver the required Products or services in the necessary numbers or types or manner;
• the refusal of any person (including a Service Provider) to honour or accept a payment;
• the malfunction of any computer terminal or equipment;
• the utilization of the Services by any person other than by the User;
• any transaction which is unsuccessful or fails for any reason whatsoever, whether PayMate has a prior notice of it or not;
• any mis-statement, error or omission in any details disclosed to PayMate.

 

A “Chargeback” shall mean a Transaction that is uncollectible and returned to Service Provider/ PayMate by User/ Payee or acquiring bank for a refund to the concerned Payer / User due to any of the following reasons:

1. Any payment which the User/ Payer refuses to honour or demands a refund of because the Products or services, purchased or sold or the delivery thereof, was not as promised or was defective, deficiency of service, incomplete and /or unsatisfactory for any reason whatsoever, or that payment for the same has already been made.
2. Any payments by a User/ Payer using the Services, which is returned by the acquiring bank for any reason whatsoever.
3. Any charge/debit arising out of any alleged hacking breach of security or encryption that may be utilized by Service Provider/ PayMate/ Payee from time to time or
4. Any Transaction that is unsuccessful.

As a result of the rapid nature of movements of funds, once a payment has been initiated through the Services, it may not be possible to retract the same using the Services. Hence neither the Acquiring Bank or PayMate shall be responsible to the User or anyone else for chargeback or refund. The user hereby expressly acknowledges and confirms that PayMate shall not be liable for the Chargeback

Any such retraction of a payment shall be between user and payee directly and a chargeback can be considered only if the Payee refunds the amount back.

In the event of a Chargeback situation arising in case of any Products or services purchased by a User or Payer, for which payment has not yet been made to the Payee or User, the User or Payer shall be advised by PayMate to resolve the issue with the Payee or User at the earliest and PayMate shall then settle the payment in accordance with the solution agreed upon by the Parties once the same is communicated to PayMate.

In any event, chargeback request may be entertained only if the payee refunds the amount and hence PayMate is under no obligation otherwise.

In the event of a Chargeback situation arising in case of any Products purchased by a User/ Payer, for which payment has been made to the Payee/User / Service Provider, the User/ Payer shall be advised to resolve the issue with the Payee/User / Service Provider at the earliest and shall then settle the payment in accordance with the solution agreed upon by the Parties only if the Payee refunds the amounts back.

PayMate shall not be responsible or liable to make payments in respect of any Chargeback unless it has received the requisite amounts from the concerned acquiring bank/ Service Provider/ Payee/ User.

In the event of the receipt by PayMate of an amount of a Chargeback from the acquiring bank / Service Provider, PayMate shall pass on to User/ Payer such amount received by them within 7 working days.

Furthermore :-