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Closed Wallet Terms and Conditions

These terms and conditions ("T&Cs") are applicable to your use of 'myRupee Wallet'. 'myRupee Wallet' is the branding for stored value accounts issued by BPSPLUS Pvt Ltd, a private limited company registered under the companies act, 2013 having its registered office at Office No: 6, 3rd floor, Gamma Block, Sigma Soft Tech Park, Varthur Kodi, Whitefield, Bengaluru, Karnataka - 560066

By registering for or using my rupee wallet, you signify your agreement to be bound by these T&Cs and our privacy policy.

1. Eligibility

  1. You will be "eligible" to register on the site and/or use our services only when you fulfill the following conditions:
    1. You have attained 18 (eighteen) years of age;
    2. You are competent to enter into a contract under the applicable laws;
    3. You have the legal and/or right capacity to enter into this arrangement with us by virtue of availing of our services so offered on the site and to abide by the user terms contained herein and/or as informed by us from time to time;
    4. the quality, safety, reliability, legality, delivery, or any other aspect of any goods or services that You may purchase using the Wallet or other payment mechanism made available to thecustomers on the SITE.
    5. You are an Indian citizen, Indian resident, and tax resident of India (under the applicable laws) and of no other country and agree to submit any new details to us within 30 (thirty) days of any change in the said information; and
    6. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent your identity, age, or affiliation with any person or entity. In the event of any violation of these user terms, we reserve the right to suspend or permanently prevent you from availing the services, using the site, or take any appropriate action under applicable laws.
  2. You can avail the services only if you fulfill the conditions as mentioned above. If you are not eligible, please immediately abandon any and all attempts to register with us, and cease your use of the site.
  3. We rely completely on the information provided by you and we shall not be held liable if you or anyone who uses your account or the services is not an eligible user.
  4. As a minor, if you wish to avail the services, such services may be availed by your legal guardian or parents who have registered as customers on the site. Notwithstanding anything contained under these user terms, we reserve the right to terminate your membership, refuse to provide you with access to the site, and/or refuse to provide the services to you, if it is brought to our notice or if it is discovered that you are not eligible to register on/use the site under these user terms and/or applicable laws.
  5. Even upon the satisfaction of the above conditions, payRup reserves the right to determine your eligibility or extend the services to you, at its sole discretion.

2. Registration

  1. You can register as a customer by providing a valid phone number and any other additional information that company may prescribe to be necessary to satisfy know your customer norms ("KYC norms") or any other information that we may deem fit and require from time to time (together referred to as "registration data").
  2. You hereby allow payRup to collect and verify your registration data, including any information provided by you as per the KYC norms and applicable laws. Further, you also hereby consent and allow payRup to store your registration data for a period of three years from the date of termination of your account with payRup, or any other period as mandated under any applicable laws.
  3. You shall ensure that the registration data provided by you is accurate, complete, current and true. We shall bear no liability for false, incomplete, old, or incorrect registration data provided to us by you.
  4. You hereby expressly consent to receive communications from us to your registered phone number and/or e-mail id. You consent to be contacted by us via phone calls/SMS notifications.
  5. You agree that any communication so received by you from us will not amount to spam, unsolicited communication or a violation of your registration on the national do not call registry.
  6. You are solely responsible for maintaining the confidentiality of your registration data and will be liable for all activities and transactions that occur through your account, whether initiated by you or by any third party. Your account should not be shared with anybody. Your account is non-transferable and is not capable of being sold to a third party. We shall not be liable for any loss that you may incur as a result of someone else using your account or accessing your device, either with or without your knowledge. We shall not be liable for any claims, damages, liabilities etc. That may be suffered by you or any third party as a consequence of any unauthorized use of your account, and you shall be solely liable for the same.
  7. In the event of any change in the said registration data, you agree to promptly update your account information to ensure that the communications we intend to send to you are promptly delivered to you and are not sent to any other entity/third party
  8. We reserve the right to suspend or terminate your account with immediate effect and for an indefinite period if we have reason to believe that the registration data or any other data provided by you is incorrect or false, or that the security of your account has been compromised in any way. We also reserve the right to suspend or terminate your account, if your registration data is modified or changed and the same adversely impacts your account.
  9. We reserve the right to suspend or terminate your account for reasons including but not limited to any fraud charges against you raised by any bank, other account holders, or concerned authorities, and you hereby authorize us to share your information with them for the purposes of investigation.
  10. We allow you to open only one account in association with the registration data provided by you.
  11. In case of any unauthorized use of your account, please immediately reach us at support@payrup.com
  12. In case you are unable to access your account or the wallet, please inform us at support@payrup.com and make a written request for blocking your account, if required. We will not be liable for any unauthorized transactions made through your account prior to you making a request in writing for blocking and during the processing of such requests. We shall require at least 72 (seventy-two) hours to process your request (except in case of unauthorized transaction and blocking due to theft etc.) and the same shall be subject to the occurrence of any force majeure events or any other events, which are beyond our reasonable control.

3.Permissible use

  1. myRupee wallet may only be redeemed towards the purchase of eligible products offered by merchants on payRup. No cash withdrawal will be permitted at any point in time, to any customer.
  2. Recharges
    1. myRupee wallet can be used to recharge prepaid mobile phones. myRupee does not provide any mobile service and is only a reseller of prepaid mobile services by telecommunications service providers. myRupee is not a warrantor, insurer, or guarantor of the services to be provided by the telecommunications service providers.
    2. Recharges made through myRupee may take 3 to 4 working days to get processed. Any disputes regarding the quality, minutes provided, cost, expiration, or other terms of the recharge purchased must be handled directly between the user (or the recipient of the recharge) and the telecommunications service providers.
    3. payRup reserves the right to charge and recover from the user fees for availing the recharge services. payRup will recover any charges, whatsoever, that may be levied by any of the service providers for recharge initiated through the myRupee wallet.
  3. Bill Pay
    1. “Bill Pay” features allow users to pay bills pertaining to services of mobile, landline, DTH, data card, electricity, gas, and insurance.
    2. If a user has given standing instructions for payment of a bill, it will be the user's responsibility to ensure that there is sufficient balance in the wallet.
    3. Bill payments made through myRupee may take 3 to 4 working days to get processed. The customer should ensure that payment is made at least 3 to 4 working days before the due date. The customer should also ensure that the date selected in case of auto pay is at least 3 to 4 working days before the due date. payRup bears no responsibility in such cases of late payment or late payment fees levied by the biller. payRup reserves the right to charge and recover from the user, fees for availing the bill payment services. payRup will recover any charges, whatsoever, that may be levied by any of the billers for bill payment initiated through the myRupee wallet.
    4. Depending upon the payRup business partner and biller/s through whom the services are availed by user (i) the specific features of the service may differ (ii) the number of billers available over the service can differ (iii) the type and range of payment accounts that can be used to issue a payment instruction can differ and (iv) the modes/devices over which the service can be accessed can differ; and (v) the charges, fees for availing the service or any aspect of the service can differ.
    5. From time to time, payRup, at its sole discretion, can add to or delete from such a list of billers or types of payment accounts that can be used in respect of making payments to a biller.
    6. payRup assumes no responsibility and shall incur no liability if it is unable to affect any payment instruction(s) on the payment date owing to any one or more of the following circumstances:
      1. If the payment instruction(s) issued by the user is/are incomplete, delayed, inaccurate, and invalid.
      2. If the payment account has insufficient funds/limits to cover for the amount as mentioned in the payment instruction(s) if the funds available in the payment account are under any encumbrance or charge.
      3. If user’s bank refuses or delays honoring the payment instruction(s)
      4. If payment is not processed by the biller upon receipt.
      5. Circumstances beyond the control of payRup
      6. In case the bill payment is affected for any reason, users will be intimated about the failed payment accordingly.
  4. Limitation on transactions:
    1. payRup in its sole discretion can limit the number of transactions users will be allowed to carry out through the myRupee wallet for the day, may introduce new limits or modify the said limits. Transactions include fund transfer, mobile recharge, and bill payment. If the daily transaction limit is exhausted, then users will not be allowed to carry out transactions through the myRupee for the day.
  5. Offers
    1. All offers listed on this platform are subject to change/ withdrawal without prior notice. Offers are not transferable, are not for sale or resale nor redeemable for cash and may not have a monetary value. No two offers can be clubbed together. Any discounts herein are valid only on the net amount (excluding taxes or any other additional charges) .
    2. Any transactions for purchase or booking via myRupee are subject to the terms & conditions of the respective sellers.
    3. Availing offers is subject to availability and the merchant’s discretion. Individual merchants’ terms & conditions apply to all customer transactions with them. payRup bears no responsibility for the products/ services availed using any offer.
    4. The products are sold and the services are provided by respective merchants, under such terms and conditions as determined by the merchants, and payRup accepts no liability whatsoever in connection with such products and services.
    5. Circumstances beyond the control of payRup
    6. The products and services have not been certified by payRup and under no circumstances shall the inclusion of any product or service in offers be construed as an endorsement or recommendation of such product or service by payRup

4. Fees and charges

  1. payRup reserves its right, in its sole discretion and without any prior notice, to impose and/or revise charges/commissions in relation to the use of your myRupee wallet.

5. General conditions for use of services

  1. You may avail the services of the wallet, upon successful registration and creation of an account on the site, unless restricted due to applicable law or due to internal policies of payRup.
  2. The currency of issue of the wallet shall be Indian rupees (INR).
  3. You can reload the wallet by using only those modes of payment as enabled by us and permitted under applicable law. These payment modes may be revised by us from time to time at our sole discretion.
  4. You hereby authorize us to hold, receive and disburse funds in your wallet in accordance with any payment instructions we receive from you.
  5. In the event any service provided by a merchant (where you have chosen wallet as the payment option) is of a nature where the actual payment happens after the service is provided by the merchant, you hereby authorize us to withhold the estimated amount of the transaction (as notified by the merchant as a service request) from the balance in your wallet until the merchant notifies us of the completion of the service delivery and requests a debit from your wallet. For the sake of clarity, such withheld amount will however continue to reflect in your wallet account, until deducted as per the terms hereof.
  6. The amount payable by you to the merchant will be deducted from your wallet once we receive a confirmation from the merchant on completion of that particular service. You can reach out to the concerned merchant in case of any disputes in this regard.
  7. In the event any service provided by a merchant (where you have chosen wallet as a payment option) is of a nature where the actual payment happens before the service is provided by the merchant, such as subscription based services etc. You hereby authorize us to deduct the transaction amount (as notified by the merchant) from the balance in your wallet.
  8. All transactions shall be subject to: (i) the amount of the outstanding balance existing in the wallet at the time of initiating a transaction, (ii) any other limits/ conditions as may be prescribed by us from time to time.
  9. You may not withdraw and/or redeem (for cash) any outstanding balance in the wallet.
  10. You may not transfer your wallet account to any third party.
  11. In the event there is no transaction carried out on your wallet consecutively for a period of 1 (one) year or any other time limit as may be prescribed under applicable laws, your wallet will be made inactive. Once your wallet is made inactive, it can be reactivated only after completing the applicable due diligence process.
  12. Subject to the above clause, your wallet account shall be valid from the date of activation/issuance to you, for an indefinite period subject to applicable laws and internal policies of payRup. We will send communications to you at least 45 days prior, in the event of inactivation of your wallet account
  13. Wallets are not and shall not be used as a domestic remittance service and as such, no customer will be entitled to redeem and/or cause to be redeemed the same for cash.
  14. Wallet services are being offered as a service using mobile phones, mobile application, including mobile application operated through the site, using SMS and may also be offered by other methods as intimated by us to customers from time to time. However, different mobile service providers may have different restrictions / limitations in their packages offered to their mobile subscribers. payRup is not responsible for any such limited service offering from any mobile service provider or for such differences in between any two or more such providers. You may be charged a fee for using SMS and mobile services by your mobile operator, and payRup is not responsible for such charges.
  15. payRup does not permit, facilitate or allow the following services on the site and payments for the following services on or through the use of the site and/or the wallets:
    1. Online gambling
    2. Remittance services
    3. Any other service prohibited under applicable laws.
  16. You understand that advertising plays an important role in the provision of this service, and that we will display advertisements and other information whether as part of the services or otherwise, which you may use. Subject to applicable laws, we may periodically send promotional materials to you using email/SMS/whatsapp/any other channel about services offered by us and our advertisers and any communication so received by you from us will not amount to spam, unsolicited communication or a violation of your registration on the national do not call registry.
  17. In many cases, we provide services of third parties, or our services in conjunction with that of third parties. In those cases, we provide such services subject to the terms, conditions and limitations imposed by those third parties, which shall also be binding on you. If those third parties change, suspend or stop providing such services, we may similarly change, suspend or stop providing the services to you without notice. We may nevertheless endeavor to provide such a service in another way or by using another third party. You shall have no claims against us in this regard. You authorize us to provide any of your personal information (as defined below) to those third parties to the extent that it may be necessary to enable us and the third parties to provide the services to you.
  18. To the extent that there is a conflict between the third party's terms and conditions and these user terms, these user terms with regard to payRup, will prevail.
  19. You provide us the required information, except as required under applicable laws, or to the extent necessary for us to implement any payment instructions we receive from you or as per the terms of the privacy policy. Please read our privacy policy for further details regarding the use of your personal information. We will bear no liability for the consequences in any event where your personal information has been willingly or inadvertently shared by you with any third party.

6.Payments to merchants

  1. When we receive payment instructions from you to pay a merchant, you authorize and order us to commit your payment to that merchant. This authorization will remain in effect as long as you maintain a wallet with us.
  2. In the event you have any dispute with the merchant in relation to the goods or services provided to you by a merchant, you must report the matter to the concerned merchant. payRup shall neither be liable for the goods and/or services provided by the merchants nor be made a party to the dispute between the merchant and you. payRup shall also not be required to mediate any such dispute between you and the merchant.

7. Refunds

  1. In the event that you desire a refund on any amount that has been debited from your wallet account please email support@payrup.com and make a refund request clearly explaining the circumstances of your refund request.
  2. Where we determine that a refund request is valid, we shall make reasonable efforts to honor the refund request and return the requisite funds to your wallet subject to applicable laws.
  3. We will make reasonable efforts to respond to your refund request at the earliest. Please note that we will not be responsible for delays, which may be caused by any third parties such as banks and merchants, on whom we rely while processing your refund request, or for any delay caused in the case of any force majeure events which are beyond our reasonable control. Therefore, we bear no liability for the processing of the refund requests.
  4. Any refund request for the funds added to the wallet from your bank account shall be made only after 3 days from the date on which the amount is added to the wallet.
  5. Funds added to the wallet are refundable and transferable only to the wallet holder's account. Wallet funds that are deemed abandoned or unused by will be returned or restored only to the wallet holder's account.
  6. In order to initiate a transaction from the wallet to the account of the wallet holder, the wallet holder shall provide their id proof and address proof as requested by us. The wallet to fund transfer shall be allowed only if the name mentioned in the bank account and name mentioned in the wallet account are one and the same. Refund requests are subject to successful verification of the bank account and its link to the wallet holder.

8. Liability for unauthorized transactions

  1. In the event you incur loss due to unauthorized transactions, on a case to case basis, we will decide the course of action in accordance with the customer grievance redressal policy.

9. Any offers, promotions by payRup in relation to the wallet shall be subject to the terms and conditions issued along with such offer and payRup shall at its sole discretion modify/alter such terms and conditions and you agree to be bound by such terms and conditions when accepting the offer.

10. Without limitation and without prejudice to the foregoing paragraphs, payRup shall not be liable for refusal by or inability of a merchant to honor or accept the wallet.

11. If you violate any of these user terms, payRup reserves the right to deactivate your wallet and/or cancel/suspend any or all wallet balance, without any notice or refund, and that you shall be solely liable in this regard.

12. As your account is connected to your mobile number, it is your responsibility to inform payRup in case your mobile number that corresponds to your account is no longer being used by you. Your account corresponding to the mobile number you register with, can be accessed by you only till the time you have access to the corresponding mobile number. It is your responsibility to transfer your account to a new mobile number if and when you change your number. Not doing so may give the new user the same mobile number (if any), access to your wallet balance, and payRup will not be liable or responsible for the same. In case of loss of your mobile phone, you should immediately intimate payRup in writing. payRup shall make every attempt to block access to your account/ wallet under such circumstances; however, payRup shall not be liable for any losses a user may incur due to the above. The responsibility to safeguard the wallet balance rests entirely with the customer.

13. Add money in the wallet per transaction 5k, per month 10k and per year 120k/year, per transation 5k only allowed.

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