Credit Card Distribution Terms and Conditions

These Credit Card Distribution Terms and Conditions (the “TOUs”) set forth the terms and conditions that apply to the access and use of the website(s), mobile application and/or other online platforms owned / operated by PhonePe Limited (Formerly known as ‘PhonePe Private Limited’) and/or its affiliates (hereinafter collectively referred to as “PhonePe Platform”). PhonePe Limited (Formerly known as ‘PhonePe Private Limited’), a company incorporated under the provisions of the Companies Act, 1956, is hereinafter referred to as “Company” / “PhonePe”.

These TOUs are an electronic record in terms of Information Technology Act, 2000 and are generated by a computer system and do not require any physical or digital signatures.

By accessing the PhonePe Platform to avail the Services (as defined below) or registering Your information on the PhonePe Platform for availing the Services, You (hereinafter referred to as “You” or “Your”) agree to be bound by these TOUs in addition to agreeing to be bound by the General PhonePe Terms and Conditions, the PhonePe Privacy Policy and the PhonePe Grievance Policy, each of which shall be deemed to be incorporated into these TOUs and shall be considered as an integral part of these TOUs (collectively referred to as the “Agreement”).

Please return to this page periodically to review the most current version of the TOUs. We reserve the right to change or otherwise modify the TOUs without prior notice at any time, at our sole discretion, and Your continued access or use of the PhonePe Platform signifies Your acceptance of the TOUs, as amended from time to time.

PLEASE READ THESE TOUS CAREFULLY. YOUR ACCEPTANCE OF TERMS CONTAINED HEREIN CONSTITUTES THE AGREEMENT BETWEEN YOU AND THE COMPANY FOR THE PURPOSE AS DEFINED HEREUNDER.

1. DESCRIPTION AND ACCEPTANCE OF SERVICES

1. PhonePe hereby facilitates access to certain financial products/services including but not limited to credit card distribution services (the “Services”) for credit cards issued by various banks/non-banking financial companies (the “Financial Institutions”).
2. The Services are provided on a commercially reasonable effort basis, and You agree that Your participation for availing the Services is purely at Your sole discretion.
3. You hereby provide Your consent to Phone to share any information/document/details provided by You during the credit card application journey with the Financial Institutions for processing Your application.
4. The Financial Institution shall be solely responsible to conduct Your KYC and/or other due diligence and may require additional information/documents/details to be shared with them for processing Your credit card application. We may facilitate the collection and submission of such data/information to the Financial Institutions.
5. Financial Institutions shall be solely responsible for evaluating, approving and/or rejecting Your application.
6. PhonePe is not involved in and is not responsible for the issuance of credit cards and/or to provide any support post-issuance of any credit card. 
7. Any fees or charges with respect to issuance or maintenance of the credit card will be charged directly by the Financial Institution issuing such credit card as per the terms agreed between You and the Financial Institution.
8. If You have been issued a Rupay credit card, You can also link such Rupay credit card to Your UPI account as per the terms and conditions mentioned here.
9. You agree and authorize the Company to share Your information with its group companies, Financial Institutions and other third parties, in so far as required for joint marketing purposes/offering various services/report generations and/or to provide You with various value added services, in connection with the services availed by You or otherwise. 
10. To the extent permitted by applicable law, You agree to receive communications through emails, telephone and/or SMS, from PhonePe or its third-party vendors/business partners/ marketing affiliates or Financial Institutions regarding the services updates, information/promotional emails and/or product announcements. 
11. To the extent permitted by applicable law, You agree and consent to receive all communications at the mobile number provided by You, even if such mobile number is registered under Do Not Disturb (“DND”) / National Customer Preference Register (“NCPR”) list under the applicable law, including the rules and regulations made by the Telecom Regulatory Authority of India (“TRAI”). For this purpose, You further authorize the Company to share/disclose Your information to its group companies, Company’s third-party service provider or any authorized agents.
12. While PhonePe takes reasonable steps to ensure that all communications are properly sent, there may be failure(s) in sending communications owing to issues such as any restrictions on the contact information, the phone number being registered under the DND list, insufficiency in email data storage, errors with telecom service providers etc. In consideration of the foregoing, PhonePe shall not be held responsible or liable for non-receipt of any communications.
13. While PhonePe makes all communications in good faith, please note that PhonePe makes no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, availability, legality, validity, reliability, or completeness of any communication. PhonePe shall not be held responsible or liable under any circumstance for any loss or damage of any kind incurred by any person in relation to any use of or reliance upon the content of any communication made by PhonePe.
14. PhonePe will retain and use Your information as necessary to comply with our legal obligations, resolve disputes and enforce our agreements entered into for providing services.
15. The credit cards and all connected services are offered solely by the Financial Institutions and PhonePe shall not be liable for any rejection of the application, denial/delay for issuance of product/services by the Financial Institutions, post-issuance performance, usage or servicing of the credit cards/credit facilities. Your relationship with the Financial Institutions shall be independently governed as per their respective terms and conditions agreed between You and the Financial Institutions, without involving PhonePe in any manner.
16. PhonePe does not provide any warranty or guarantee in relation to the Services, or fixed deposit facilities or FD-backed credit cards/facilities including without limitation in relation to the issuance/offer applicability, post issuance performance etc.

2. LICENSE AND ACCESS TO PHONEPE PLATFORM

You acknowledge and agree that PhonePe owns all legal right, title and interest in and to the PhonePe Platform and the Services, including any intellectual property rights which subsist in the PhonePe Platform and Services (whether those rights are registered or not). You further acknowledge that the Services may contain information which is designated confidential by Company and that You shall not disclose such information without Company`s prior written consent. The contents of the PhonePe Platform, including its “look and feel” (e.g. text, graphics, images, logos and button icons), photographs, editorial content, notices, software and other material are owned by/licensed to the Company and/or its third party service providers/their licensors, as the case may be, and are duly protected by them under applicable copyright, trademark and other laws.

Company hereby grants You a limited license to access and make use of the PhonePe Platform and the Services. This license does not include any downloading or copying of any kind of information for the benefit of another individual, vendor or any other third party or to create a derivative work from, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sublicense, grant a security interest in or otherwise transfer any right in the Services. Any unauthorized use by You shall terminate the permission or license granted to You.

By using the PhonePe Platform, You agree not to: (i) use the PhonePe Platform or its contents for any commercial purpose; (ii) make any speculative, false, or fraudulent transaction or any transaction in anticipation of demand; (iii) access, monitor or copy any content or information of the PhonePe Platform using any robot, spider, scraper, or other automated means or any manual process for any purpose without our express written permission; (iv) violate the restrictions in any exclusion headers on the PhonePe Platform or bypass or restrict or circumvent other measures employed to prevent or limit access to the PhonePe Platform; (v) take any action that imposes, or may impose, in our discretion, an unreasonable or disproportionately large load on our infrastructure; (vi) deep-link to any portion of the PhonePe Platform (including, without limitation, the purchase path for any service) for any purpose without our express written permission; or (vii) “frame”, “mirror” or otherwise incorporate any part of the PhonePe Platform into any other website without Our prior written authorization or (viii) initiate any fraudulent applications or use the PhonePe Platform to commit any fraud with/on Company/Financial Institutions or any third party(ies); and (ix) provide any incorrect, incomplete or false information/ data to PhonePe and/or Financial Institutions.

3. PRIVACY POLICY

By using the PhonePe Platform, You hereby consent to the use of Your information as we have outlined in PhonePe’s Privacy Policy. This Privacy Policy explains how the Company treats Your personal information when You access the PhonePe Platform.

4. YOUR REGISTRATION/ACCOUNT

By using the PhonePe Platform, You confirm that You are competent to enter into a binding contract and are not prohibited by the laws of India or any other relevant jurisdiction from accessing / availing the Services. Your use of the PhonePe Platform is intended solely for genuine usage for Yourself.

You agree to promptly inform the Company of any unauthorized use of Your account or any security breach. You further agree that the Company will not be held responsible for any unauthorized use or access, unless it can be proven that such unauthorized access occurred solely due to reasons directly attributable to the Company.

You undertake to provide true, accurate, current and complete information about Yourself and undertake to inform/update of any change in Your information (including but not limited to contact details) promptly and keep it up-to-date and accurate at all times, as it has a direct bearing on the provision of Services by or through Company. You agree not to misrepresent Your identity or make an attempt to make unlawful access to the PhonePe Platform or use of the Services. Additional terms and conditions will apply to Your purchase/availing of services that You select, including terms of the Financial Institution(s). Please read these additional terms and conditions carefully.

5. CUSTOMER DUE DILIGENCE REQUIREMENTS

You agree and acknowledge that for undertaking any financial transaction through the PhonePe Platform, Our Financial Institutions shall undertake client/customer due diligence measurers and seek mandatory information required for KYC purpose which, as a customer, You are obliged to give, while facilitating Your request of credit card or other financial product requirements with the Financial Institutions, in accordance with applicable Prevention of Money Laundering Act, 2002 (“PMLA”) and the rules and regulations made thereunder. The Financial Institution(s) may obtain sufficient information to establish, to its satisfaction, the identify each customer/user, and to ascertain the purpose of the intended nature of the relationship between You and such Financial Institution(s). You agree and acknowledge that the Company may facilitate such process and may further facilitate enhanced due diligence measures (including any documentation), to satisfy itself relating to customer due diligence requirements in line with the requirements and obligations under the applicable laws, including PMLA. You understand and expressly consent to the sharing of Your information/data/details by the Company with the Financial Institutions. You understand and acknowledge that if You fail to provide the information/data/details to the satisfaction of the Financial Institutions, You may not be able to avail the products/services/offerings of the Financial Institutions. KYC and customer due diligence are conducted by the Financial Institutions in its sole discretion and the Company is not responsible and/or liable for the same.

6. ELIGIBILITY

You declare and confirm that You are a resident of India, above 18 (eighteen) years of age, and have the capacity to contract as specified under the Indian Contract Act, 1872, while availing the Services offered by the Company.

7. SUBMITTED CONTENT

When You share or submit any content, including data and information on the PhonePe Platform, You acknowledge that You are entirely responsible for all the content You post/ provide on the PhonePe Platform. The Company will not be held accountable for any content You choose to make available on or through the PhonePe Platform. At Company`s sole discretion, such content may be included in the Services (in whole or in part or in a modified form). With respect to such content You submit or make available on the PhonePe Platform, You grant Company a perpetual, irrevocable, non-terminable, worldwide, royalty-free and non-exclusive license to use, copy, distribute, publicly display, modify, create derivative works, and sublicense such materials or any part of such content. You agree that You are fully responsible for the content You submit. You are prohibited from posting or transmitting to or from the PhonePe Platform: (i) any unlawful, threatening, libelous, defamatory, obscene, pornographic, or other material or content that would violate rights of publicity and/or privacy or that would violate any law; (ii) any commercial material or content (including, but not limited to, solicitation of funds, advertising, or marketing of any good or services); and (iii) any material or content that infringes, misappropriates or violates any copyright, trademark, patent right or other proprietary right of any third party. You shall be solely liable for any damages resulting from any violation of the foregoing restrictions, or any other harm resulting from Your posting of content to the PhonePe Platform.

8. THIRD PARTY LINKS/OFFERS

The PhonePe Platform may contain links to other websites or resources. You acknowledge and agree that the Company is not accountable for the availability of these external sites or resources. The Company does not endorse, and is not responsible or liable for, any content, advertising, products, or other materials found on or made available from these sites or resources. You further recognize and agree that the Company shall not be held responsible or liable, either directly or indirectly, for any damage or loss caused or claimed to be caused by, or in connection with, the use of or reliance on any content, goods, or services available through such sites or resources. 

9. DISCLAIMER OF WARRANTY

You expressly understand and agree that Your use of the Services and other content (including that of the third parties) included in or accessible from the PhonePe Platform is at Your sole risk. The Services are provided on an “as is” and “as available” basis. Company makes no representations, warranties or guarantees, express or implied, regarding the accuracy, reliability or completeness of the content on the PhonePe Platform or of the Services (whether or not sponsored by third party service providers), and expressly disclaims any warranties of non-infringement or fitness for a particular purpose.

The Company expressly disclaim all warranties of any kind as to the Services and all information, products, services and other content (including that of the third parties) included in or accessible from the Services, whether express or implied, including but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

Company and its service providers, affiliates, Financial Institutions make no warranty that (i) You are eligible for the Services, (ii) the Services will meet Your requirements, (iii) the Services will be uninterrupted, timely, secure, or error-free, (iv) the results that may be obtained from the use of the Services will be accurate or reliable, (v) the quality of any products, Services, information, or other material purchased or obtained by You through the Services will meet Your expectations, and (vi) any errors in the technology will be corrected.

The Company reserves the absolute right to charge any fee for registration/ membership or browsing fee at any time. All such fees that the Company may charge will be intimated to You, and shall automatically become effective immediately after they are published/ posted. All such fees, if any, charged by the Company shall be in Indian Rupees.

While availing any of the payment method/s available on the PhonePe Platform using the credit card availed from the Financial Institutions under the Services referred here, the Company will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to You due to any reasons including without limitation:

1. Lack of authorization for any transaction/s, or
2. Any payment issues arising out of the transaction, or
3. Illegitimacy of the payment methods (credit/debit card frauds etc.) being used by You;
4. Decline of transaction for any other reason(s)

Notwithstanding anything contained herein, the PhonePe Platform reserves the right to conduct additional verification for security or other reasons if it is not satisfied with the creditability of You/Your transaction.

Company shall not be held responsible and shall bear no liability in case of failure or delay of delivering the products or services by its Financial Institutions including any damage or loss caused to You due to such delay. No deliveries of the products/services shall be made outside the territorial boundaries of India.

10. LIMITATION OF LIABILITY

You agree and understand that the Company has a limited role in the entire process, and it is only acting as a facilitator between You and the Financial Institutions. You agree and understand that in case of any issue with the credit card/credit facility of the Financial Institutions, Your rights will be governed as per the applicable laws and the credit card documents or terms and conditions executed/accepted by You and the Financial Institutions. You further agree and undertake not to make the Company and/or Company’s group entities a party to any dispute and/or make any claim against the Company and/or Company’s group entities.  

Without prejudice to the generality of the paragraph above, in no event shall the Company and/or Company’s group entities, its subsidiaries, affiliates, directors and officers, employees, agents, partners and licensors be liable for any direct, indirect, consequential, incidental, special or punitive damages, including, but not limited to, damages for loss of profits or revenues, goodwill, business interruption, loss of business opportunities, loss of data or loss of other economic interests, whether in contract, negligence, tort or otherwise, arising from the use of or inability to avail the Services.

11. INDEMNITY

You shall indemnify, defend and hold the Company and its officers, directors, agents, affiliates, subsidiaries, joint ventures, and employees, harmless from any and against any claims, causes of action, demands, recoveries, losses, damages, fines, penalties or other costs or expenses of any kind or nature, including reasonable attorneys’ fees, or arising out of or related to Your breach of the TOUs, Your violation of any law or the rights of a third party, or Your use of the PhonePe Platform/Services and credit cards/credit facility/ products offered by the Financial Institutions.

12. ADDITIONAL TERMS AND CONDITIONS

Company reserves the right to make any changes whatsoever to the PhonePe Platform, these TOUs, the Agreement and/or any related policies and agreements at any time and without any notice to You. Any updated version of these TOUs and/or the Agreement shall take effect immediately upon posting. You understand and acknowledge that it is Your responsibility to review these TOUs and/or the Agreement regularly for updates/changes. Your continued use of the Services/PhonePe Platform constitutes acceptance of the changes and an agreement to be bound by terms, as amended from time to time. If You do not agree to the changes, You may please discontinue Your use of the Services.

Company reserves the right to discontinue or suspend, temporarily or permanently, the Services, without any notice. You agree that the Company will not be liable to You in any manner whatsoever for any modification or discontinuance of the Services.

You agree not to use the Services for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another’s privacy, abusive, threatening, or obscene, that infringes the rights of the other, or that does not belong to You.

13. GENERAL

If any of these conditions are deemed invalid, void, or for any reason unenforceable, the parties agree that the court should endeavour to give effect to the parties intentions as reflected in the provision, and the unenforceable condition shall be deemed severable and shall not affect the validity and enforceability of any remaining condition. Headings are for reference purposes only and do not limit the scope or extent of such sections. The PhonePe Platform is specifically for users in the territory of India. These TOUs, the Agreement and the relationship between You and Company will be governed by the laws of India. The courts in Bengaluru shall have exclusive jurisdiction to settle any claim or matter arising out of these TOUs. The failure of Company to act with respect to a breach by You or others does not waive its right to act with respect to subsequent or similar breaches. These TOUs read with the Agreement constitute the entire agreement between You and Company and governs Your use of the PhonePe Platform and the Services.

14. TERMS AND CONDITIONS APPLICABLE TO FIXED DEPOSIT-BACKED CREDIT CARDS

1. In addition to the terms and conditions set forth above, You understand that Your usage of / application for a fixed deposit (“FD”) backed credit card shall be governed by the following terms and conditions.

2. The Company facilitates access to the below listed FD-backed credit card(s) through the Upswing Financial Technologies Private Limited’s (“Upswing”) proprietary technology platform (the “Upswing Platform”):

• Utkarsh Small Finance Bank WISH Credit Card.

3. For the purposes of offering FD-backed credit card(s) to You, the PhonePe Platform contains links or redirection functionalities to the Upswing Platform.

4. By choosing to avail FD-backed credit card(s), You explicitly acknowledge and consent to being redirected to the Upswing Platform and understand that PhonePe does not own / operate the Upswing Platform and is not responsible for the same in any manner.

5. You further understand, acknowledge and agree that the FD-backed credit card(s) are offered by the respective card-issuing Financial Institution(s) through Upswing as per the arrangements between Upswing and such Financial Institution(s).

6. You further understand, acknowledge and agree that Your access and use of the Upswing Platform shall be subject to additional terms and conditions of Upswing and You are solely responsible to review any such terms and conditions regularly for updates/changes.

7. You understand, acknowledge and agree that the application form for the FD-backed credit card(s) is managed exclusively by Upswing, which has been duly authorised for the same by the respective Financial Institution. Upon opting to initiate an application for any of the FD-backed credit card(s) via the PhonePe Platform, You shall be redirected to the Upswing Platform.

8. Any information/document/details provided by You in relation to the FD-backed credit card(s) is being collected by Upswing on behalf of the Financial Institution issuing the respective the FD-backed credit card(s).

9. When You share or submit any content, including data and information on the Upswing Platform or to any Financial Institution, You acknowledge that You are entirely responsible for accuracy and completeness of the content You submit on the Upswing Platform or to any Financial Institution. The Company will not be held accountable for any content You choose to make available on or through the Upswing Platform or to any Financial Institution.

10. You understand, acknowledge and agree that You may be required, by the relevant Financial Institution, to create an FD for the purpose of the creation of a security in relation to the issuance of an FD-backed credit card and the same shall be as per the terms and conditions of such Financial Institution binding on You. The Company is not involved in and/or responsible for FD creation, payment of interest on FD, pre-mature withdrawal of FD amount and any other actions associated with the FD. The Financial Institutions are solely responsible for all FD related aspects and Your use of the FD facility of any Financial Institution in connection with any of the FD-backed credit card(s) shall be governed by the terms agreed between You and the relevant Financial Institution(s).

11. You understand and agree that the Company has a limited role in the entire process, and it is only acting as a facilitator between You and the Financial Institutions. You understand and agree that in case of any issue with the FD or credit card facilities of the Financial Institutions, Your rights will be governed as per the applicable laws, the FD and credit card documents, and/or terms and conditions applicable between You and the Financial Institutions.

12. Any queries and/or grievances in relation to Your usage of the FD-backed credit card(s) must be addressed to the relevant Financial Institution and shall be governed by the grievance redressal policies of such Financial Institution. PhonePe’s role, if any, shall be limited to communicating to You, the responses on ‘as-is’ basis as received from Upswing and/or the Financial Institution, as the case may be.