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Please read these terms and conditions (the “Terms”) carefully before using Your Credit Card / Debit Card to undertake Card Payment Transactions (as defined below) via the PhonePe website(s), mobile application and/or other online platforms (collectively, the “PhonePe Platform”).
These Terms govern Your (“User”/ “You”/ “Your”) constitute a binding legal contract between You and PhonePe Limited (Formerly known as ‘PhonePe Private Limited’) having its registered office at Office-2, Floor 5, Wing A, Block A, Salarpuria Softzone, Bellandur Village, Varthur Hobli, Outer Ring Road, Bangalore South, Bangalore, Karnataka, India, 560103 (“PhonePe”/ “We”/ ”Us” / “Our”) governing Your access to and usage of the Card Payment Services (as defined below). If You do not agree to these Terms or do not wish to be bound by these Terms, You may not use the Card Payment Services and/or PhonePe may, in its sole discretion, immediately terminate the Card Payment Services.
These Terms form a part of PhonePe’s Terms and Conditions (“General Terms and Conditions”), which includes without limitation PhonePe’s Privacy Policy (“Privacy Policy”) and other policies/terms and conditions made available on the PhonePe Platform, as amended from time to time. By proceeding to use the Card Payment Services on the PhonePe Platform, You signify Your consent to be bound by the General Terms and Conditions and the Privacy Policy. Accordingly, these Terms shall be read harmoniously and in conjunction with the General Terms and Conditions and Privacy Policy and capitalised terms used herein but not otherwise defined shall have the meanings ascribed to them in the General Terms and Conditions. In case of any conflict between the General Terms and Conditions or these Terms, these Terms shall prevail unless repugnant to the context thereof.
We may amend the Terms at any time by posting an updated version on the PhonePe Platform. The updated version of these Terms shall take effect immediately upon posting. It is Your responsibility to review these Terms periodically for updates / changes or while using the Card Payment Services. Your continued use of Card Payment Services on the PhonePe Platform following the posting of changes will mean that You accept and agree to the Terms as revised from time to time.
1. DEFINITIONS
“Card” means a Credit Card or Debit Card.
“Card Issuer” means the bank issuing the Credit Card / Debit Card or the non-banking financial company authorized by the RBI to issue the Credit Card.
“Card Network” refers to Rupay, American Express, Diners Club, Mastercard, Maestro, Visa or such other card network authorized by the RBI to operate as a cards payment network in India.
“Card Network Rules” means the rules, regulations, releases, guidelines, processes, interpretations and other requirements (whether contractual or otherwise) imposed and adopted by the Card Networks.
“Card Payment Services” means the services provided by PhonePe for facilitation of Card Payment Transactions.
“Card Payment Transaction” means any Card payment request made by You via the PhonePe Platform including through a Token (as defined below).
“Credit Card” means a physical or virtual payment instrument containing a means of identification, issued with a pre-approved revolving credit limit, that can be used to purchase goods and services or draw cash advances, subject to the terms and conditions prescribed under law or by the Card Issuer, as applicable.
“Debit Card” means a physical or virtual payment instrument containing a means of identification, linked to a bank’s savings account / current account which can be used to withdraw cash, make online payments, do point-of-sale terminal / quick response (QR) code transactions, fund transfer, etc. subject to the terms and conditions prescribed under law or by the Card Issuer, as applicable.
“Payment Participant” means all the entities involved in a Card Payment Transaction including without limitation, the User, Card Networks, Card Issuer, acquiring bank, payment aggregators, payment gateways etc.
“Recipient” means a person or entity who receives Card payments.
“RBI” means the Reserve Bank of India.
2. CREDIT CARD – DEBIT CARD PAYMENT SERVICES
In order to offer the Card Payment Services, PhonePe has entered into agreements with various Payment Participants to, inter alia, enable the use of their respective payments infrastructure to facilitate Card Payment Transactions.
You understand and agree that the use of Your Card(s) shall be governed by the terms and conditions of the agreements executed between You and the respective Card Issuer for such Card(s).
Payment instructions provided by You are authenticated, authorized and processed by the Card Networks and Your Card Issuer and PhonePe does not control, intervene or have any role in such authentication / authorization and/or processing.
You understand, agree and acknowledge that:
- The Card Payment Transactions are solely between You and the Recipient;
- PhonePe is not a party to the Card Payment Transaction;
- PhonePe’s role is limited to acting as a facilitator of the Card Payment Transaction;
- Once a Card Payment Transaction is authorized, authenticated and processed by the concerned Payment Participants, the transaction amount will be settled to the Recipient directly by the respective Payment Participants;
- The provision of Card Payment Services by PhonePe does not constitute a guarantee that the respective Card Payment Transaction will be successful and the same is subject to various factors including availability of sufficient balance in the respective Card account, acceptance of the applicable transaction by the Payment Participants in accordance with their respective risk controls / fraud prevention mechanisms etc.;
- PhonePe is not responsible for any aspect of the products and/or services purchased from the Recipient through Card Payment Transaction(s) including without limitation, the price, nature, quality or quantity of such products/services, or any representations warranties provided by the Recipient in respect of their products/services; and
- PhonePe will not be responsible for any disputes, chargebacks or reversals arising out of or in connection with the Card Payment Transaction(s);
You consent and agree to comply with the Card Network Rules and any rules, regulations, releases, guidelines, processes, directions, instructions, requests, etc. made by the Payment Participants, as applicable. You further acknowledge that the Your Card Issuer and/or the Card Networks may also place limitations and restrictions on Your Card basis their own discretion and PhonePe might not have visibility of such controls/limits and hence in no circumstances can PhonePe assure successful transaction processing. PhonePe shall not be liable for any direct, indirect or consequential losses that You may incur due to any transaction failure(s).
PhonePe may monitor Your Card Payment Transactions to safeguard Your account and may reject certain Card Payment Transactions basis certain internal risk parameters and may report certain transactions to regulators or legal enforcement agencies and may temporarily suspend Your PhonePe account in case such transactions are perceived to be unusual or high risk transactions.
As part of PhonePe’s continual innovation and improvement, PhonePe reserves the right to update, modify, suspend or discontinue all or any part of the Card Payment Services without notice and without liability.
3. FEES AND CHARGES
You may be charged a fee, charges or any other processing fee(s) by Your Card Issuer for making payments through the PhonePe Platform. You understand that PhonePe does not have any control over such charges or fee(s) and does not undertake any liability for such charges. You are required to check for such charges or fee(s) with Your Card Issuer. All queries, disputes, or claims relating to the card, billing, interest, fees, or rewards must be addressed directly to the Card Issuer.
In addition to the foregoing, PhonePe may charge You fees for the Card Payment Services which will be displayed to You during the course of the relevant Card Payment Transaction.
Any chargebacks, reversals, refunds, or disputes in relation to a card transaction shall be handled as per the rules of the Card Issuer and the relevant Card Network. Without prejudice to the above, any refund/reversals initiated by the Recipient, Card Issuer, or Card Network in case of non-fulfilment or return of orders will be refunded back to the source account or to any other permitted account with Your consent.
4. DISCLAIMER, WAIVER AND RELEASE
EXCEPT AS EXPRESSLY PROVIDED HEREIN AND TO THE FULL EXTENT PERMITTED BY LAW, THE CARD PAYMENT SERVICES ARE PROVIDED “AS IS”, “AS AVAILABLE” AND “WITH ALL FAULTS”. ALL SUCH WARRANTIES, REPRESENTATIONS, CONDITIONS, UNDERTAKINGS AND TERMS, WHETHER EXPRESS OR IMPLIED, ARE HEREBY EXCLUDED. IT IS YOUR RESPONSIBILITY TO EVALUATE THE ACCURACY, COMPLETENESS AND USEFULNESS OF THE Card PAYMENT SERVICES AND OTHER INFORMATION PROVIDED BY PHONEPE OR WHICH IS GENERALLY AVAILABLE. WE DO NOT AUTHORIZE ANYONE TO MAKE ANY WARRANTY ON OUR BEHALF AND YOU SHOULD NOT RELY ON ANY SUCH STATEMENT.
You agree to release PhonePe and its affiliates, agents, contractors, directors, employees and authorized representatives from all claims, liabilities or damages arising out of or in connection with any cause of action or dispute pertaining to Card Payment Transactions. You agree and covenant not to involve PhonePe in any legal proceedings arising out of or in connection with any cause of action or dispute pertaining to Card Payment Transactions.
Nothing contained in these Terms shall constitute a waiver of any rights, claims or defences that PhonePe may have with respect to a Card Payment Transaction under the applicable laws.
5. CARD TOKENIZATION
Card Tokenisation: In order to facilitate smooth and secure transaction processing, PhonePe provides You an option to tokenise Your Card on the PhonePe Platform so that it is available for Your future Card Payment Transactions. You understand that tokenisation of your Card means the replacement of actual card details with a unique alternate code called the ‘token’ (the “Token”), which shall be unique for a combination of Card, the token requestor and the mobile phone, tablet or such other device on which the token is stored (the “Token Device”).
You understand and agree that You have the sole discretion to initiate a request for tokenisation of Your Card through the PhonePe Platform to the Card Networks.
By choosing to tokenise your Card through the PhonePe Platform, you provide your express consent for PhonePe to act as a token requestor on your behalf to facilitate tokenisation of your Card on Your by the Token Service Providers i.e., Card Networks or Card Issuers (as applicable).
You further authorise PhonePe to transmit your data to the relevant Token Service Provider for the purpose of generating a Token for your Card.
You further authorise PhonePe to use such Token for the processing of Your Card Payment Transactions.
You acknowledge that PhonePe does not store your actual Card data except such data as permitted under applicable laws including applicable RBI regulations,.
You can manage your tokenized Cards, including de-tokenising them on the PhonePe Platform.
When you initiate a payment transaction using Your Token, PhonePe may share the details of your Token and related information to the transacting party so that such party can charge Your Card. After sharing the Token and related information to such party, PhonePe shall have no further involvement in the transaction between You and such party. You acknowledge, understand and agree that You shall be required to contact such party or Your Card Issuer for any issues including refunds, disputes etc. pertaining to Your transactions undertaken using a Token.
You understand, acknowledge and agree that:
- The Token Service Provider and/or the Card Issuer have the sole discretion to approve or reject the tokenisation of any Card and such decision shall be final and binding on You.
- PhonePe shall not be liable for any loss of, or unauthorized access to, Your Card data as a result of the use of electronic means of communication undertaken as per the standards prescribed by applicable law.
- The use of the Token may be subject to additional transactional limits which may be imposed by the Card Issuer from time to time in its sole discretion.
- You are solely responsible for ensuring the physical security of Your Token Device, including by setting adequate authentication measures such as PIN, password, pattern, biometric, etc. to prevent unauthorised access to the device and the PhonePe Platform. You must not share the credentials of Your Token Device credentials with any other person.
- PhonePe shall not be liable for any losses or misuse of the Token arising from any loss or theft of Your Token Device. In the event of any loss or theft, You shall be solely responsible to immediately report the same to the Card Issuer.
- If Your Card is blocked for any reason including loss, theft, damage etc., the Token will also be blocked automatically and hence cannot be used to undertake further payments.
6. PHONEPE TAP AND PAY SERVICES
Subject to the terms and conditions set forth in these Terms, PhonePe may enable You to undertake contactless payments to Recipients using Token(s) on your Device through certain point-of-sale terminals (the “PhonePe Tap & Pay Services”).
Eligibility:
- PhonePe Tap & Pay Services are offered for Mastercard Credit Cards and Mastercard Debit Cards;
- Your Card must be equipped with ‘tap-to-pay’ functionality;
- Your Device must operate on the Android operating system;
- Your Device must be equipped with Near Field Communication (NFC) capability;
- You shall be required to enable the ‘tap-to-pay’ functionality on Your Card through Your Card Issuer’s mobile application or as per such other process prescribed by Your Card Issuer to update Your Card’s preferences; and
- You shall be required to tokenise such Card on the PhonePe Platform.
You understand, acknowledge and agree that any transaction which can be completed through the PhonePe Tap & Pay Services can also be undertaken through a contact-based payment and that You may choose to utilize the PhonePe Tap and Pay Services in your sole discretion.
You understand and acknowledge that the PhonePe Tap and Pay Services can be utilized to make contactless payments only if the relevant Recipient has a POS terminal with NFC functionality.
You may undertake contactless transactions up to INR 5,000 without any Additional Factor Authentication (AFA), or such other limit as permitted under applicable law. For contactless transactions exceeding INR 5,000, You will be required to enter your Card’s PIN to complete the payment. You understand and acknowledge that Your Card Issuer may enable you to set per-transaction limits lower than INR 5,000.
The PhonePe Tap and Pay Services are provided on an “as is” and “as available” basis. PhonePe does not guarantee uninterrupted, secure, or error-free access to the PhonePe Tap and Pay Services. PhonePe may, at its discretion, add, modify, or remove any part of the PhonePe Tap and Pay Services without prior notice.
You shall indemnify, defend and hold harmless PhonePe, PhonePe Entities, its owner, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim, loss, penalty or demand, or actions including reasonable attorneys’ fees, arising out of or in connection with Your use of the PhonePe Tap & Pay Services.
7. EMI PAYMENT OPTION
By choosing to pay via EMI (Equated Monthly Installments), you agree to the following terms and conditions. Please read them carefully before proceeding.
7.1 EMI Payment Option Overview
The EMI payment option allows eligible customers to convert their purchase amount into monthly installments using select Credit Cards/Debit Cards subject to approval by the Card Issuer. EMI payment option is provided directly by the Card Issuer and is facilitated by PhonePe on behalf of the participating merchants.
7.2 Eligibility Criteria
- EMI payment options are available only on select Card Issuers and Card types, as displayed at checkout.
- All EMI-related terms, including final eligibility; approval on EMI conversion; minimum purchase amount required for availing EMI; interest rate, processing fee, tenure, and foreclosure terms, are governed by the Card Issuer’s internal policies, credit limits, and approval mechanisms.
- You are advised to read and understand the Card Issuer’s applicable terms before selecting the EMI payment option.
7.3 Interest and Charges
- Some EMI options may be interest-free (No-Cost EMI), while others may carry standard interest rates as determined by the Card Issuer. For some Card Issuers, the interest amount on the first EMI will be calculated from the loan booking date till the payment due date. This will be clearly indicated during the checkout process.
- Any applicable processing fee, foreclosure charges will be levied by the Card Issuer as per their policy.
- Any applicable statutory taxes including but not limited to Goods and Services Tax (GST) will be levied by the Card Issuer as mandated by applicable laws and regulations.
- In case of No-Cost EMI, the interest amount may be borne by the participating merchant.
- The EMI amount will be billed to your Credit Card as part of your monthly statement, starting from the billing cycle following the transaction.
7.4 Cancellations, Refunds & Pre-closure
- In case of order cancellation or refund, the refund will be processed to the original payment method or as per the participating merchant’s refund policy. You are advised to check with the respective Card Issuer offering the EMI how the cancellations or refund will affect the EMI terms and of any pre-closure or interest charges levied on the customer.
- PhonePe shall not be responsible for any charges levied by the Card Issuer in such cases.
7.5 Dispute Resolution
- Any dispute related to EMI approval, billing, interest, or repayment must be taken up directly with the Card Issuer.
- PhonePe shall not be liable for any dispute arising out of the EMI arrangement between the you and the Card Issuer.
7.6 Limitation of Liability
- PhonePe only facilitates the EMI payment option at checkout and has no role to play in determining eligibility criteria, approval of EMI or any other matter incidental to offering of EMI payment option.
- PhonePe make no representations or warranties regarding the Card Issuer’s decision to approve or reject your EMI application.
7.7 Modifications
PhonePe reserves the right to modify these terms and conditions at any time without prior notice. The updated terms will be displayed at checkout and will apply at the time of transaction.
By selecting the EMI option and completing your purchase, you confirm that you have read and understood these terms and agree to abide by the Card Issuer’s terms and conditions.
8. RUPAY CREDIT CARD VIA UPI
We may enable You to make payment(s) using Your RuPay Credit Card via UPI on select merchants, for such Card Issuers that enable such payment(s). In order to enable payments via UPI on Your RuPay Credit Card, You would be required to link Your RuPay Credit Card with UPI on PhonePe App and set an M-PIN. It is clarified that You would only be able to link such RuPay Credit Card via UPI which is linked with Your mobile number registered on PhonePe App.
In order to generate the M-PIN, You would be required to enter the expiry date and the last six (6) digits of Your RuPay Credit Card. We will fetch RuPay Credit Card details that are linked to Your mobile number and You will have the option of linking such RuPay Credit Card with UPI. Once the M-PIN has been generated, You shall be able to authorize transaction(s) using the M-PIN and would not be required to enter details of Your RuPay Credit Card along with the OTP.
Any amount that is paid to the RuPay Credit Card account linked with UPI using the VPA shall be a payment towards the Credit Card bill. Additionally, in case any refunds of forward payment(s) authorized via the RuPay Credit Card using UPI is received, the same shall get accrued/adjusted in the credit account. Your RuPay Credit Card can be used via UPI to enable payments to enabled merchants only and cannot be used to make any other payment(s) (including, but not limited to, transfers to individuals, bank account transfer)/cash withdrawal.
While transacting using RuPay Credit Card via UPI, transaction limits as applicable for UPI transactions shall apply. Additionally, any limits that are imposed by the Card Issuer shall take precedence over such limit (if the limit imposed by the card issuer are lower than the transaction limits applicable for UPI transactions). You would also have the option of checking ‘available/card limit balance’ in Your linked RuPay Credit Card. You understand that under this facility, We shall display the ‘available/card limit balance’ as provided by NPCI. We shall not be liable for any failure or delay in providing such balance details nor shall We be liable for any error or inaccuracy of such information.
Any disputes with respect to the transaction(s) authorized using UPI on Your RuPay Credit Card shall be dealt with as per the process provided in the section Disputes and Grievance under the Terms of Use of PhonePe UPI (“UPI ToU”) and any other process as may be prescribed by NPCI (from time to time) with respect to UPI transactions. Any refunds/reversals shall be as per timelines applicable to UPI transaction(s).
9. RUPAY CREDIT CARD VIA UPI – EQUATED MONTHLY INSTALMENTS (“EMI(S)”)
If You have already linked Your RuPay credit card to PhonePe UPI, and You wish to make a payment using the same, You may be provided an option to convert Your transaction amount (either partially or entirely) to EMI, and the same shall be governed by all applicable terms, including these Terms read with the Terms and the Privacy Policy mentioned above.
It is important to note that: (a) this option shall be made available to You only where the Card Issuer provides this facility (There may be certain Card Issuer that do not provide this facility); (b) the card issuer for Your RuPay credit card may prescribe limits (minimum and maximum) for a transaction to be eligible to be converted into an EMI; (c) There may be additional eligibility criteria (including, but not limited to, eligibility in the product/service); and (d) You shall be bound by any terms and conditions that may be prescribed by the card issuer in relation to Your RuPay credit card and such facility.
Either at the time of making the payment for Your purchase (“In Transaction EMI”) or upon successful completion of such a transaction using Your RuPay credit card (via PhonePe UPI on PhonePe Platform) (“Post Transaction EMI”), which is eligible for conversion to EMI, You shall be able to view a call to action button to convert the transaction amount to EMI. Based on Your eligibility for EMI (as provided and verified by the card issuer associated with Your RuPay credit card), PhonePe will fetch and display eligible EMI plans (which shall also consist of the duration of the EMI, interest rate(s), processing fee (charged by the card issuer) from the card issuer ‘as is’, and display the applicable convenience fee / platform fee charged by PhonePe (as may be applicable). An illustration has been provided below for Your understanding:
**Illustration:
| EMI Plans for a completed transaction via RuPay credit card of INR 15,000* | ||
| Duration and Interest | EMI amount per month | Total re-payment amount |
| 6 months (14% p.a.) | INR 2,604 | INR 15,618 |
| 9 months (14 % p.a.) | INR 1,766 | INR 15,889 |
| 12 months (14% p.a.) | INR 1,347 | INR 16,162 |
*This excludes the processing fee charged by the card issuer (as the case may be) and convenience fee / platform fee charged by PhonePe (as may be applicable).
**The figures are only for illustrative purposes and have been rounded off.
On clicking on the EMI plan, You will be able to view the breakdown of (i) total monthly EMI, (ii) interest rate charged by the card issuer associated with the relevant RuPay credit card, against the time period for the EMI, (iii) total amount to be paid, (iv) other charges (including processing fees levied by the bank, platform fee charged by PhonePe (as may be applicable)) and (v) re-payment schedule.
You understand that Your eligibility to the EMI plan(s) shall be provided and verified by the card issuer in the backend, and PhonePe is merely fetching and displaying the eligible EMI plans to You as is. Before selecting/opting for any EMI plan, You should ensure that You go through the EMI plans and associated terms and conditions carefully. PhonePe shall have no liability with respect to the same.
On selection of the chosen EMI plan, You shall be required to enter Your UPI PIN (M-PIN) linked to Your RuPay credit card, in order to authorize and convert Your transaction amount to EMI. Thereafter, relevant re-payment amount of Your RuPay credit card shall be blocked by the card issuer. Your RuPay credit card limit gets adjusted as and when the EMI payments are made by You.
In case of an In Transaction EMI, after conversion of Your transaction amount into an EMI, there will be a display of “EMI set successfully” on the payment confirmation page. However, despite this, You understand the EMI is still subject to approval of the card issuer, and PhonePe bears no liability for the rejection of Your EMI conversion by Your issuing bank, for any reason whatsoever.
The confirmation of the successful conversion of the transaction amount to EMI would be provided by Your card issuer associated with Your RuPay credit card via message on Your registered mobile number. Upon successful conversion of Your transaction to an EMI plan, You will be able to view the details under the history section of Your profile on the PhonePe Platform.
You further undertake and agree to the following:
- You shall be bound to make the regular payment(s) to the bill(s) generated by the issuer of Your RuPay credit card. Further, You agree and understand that the card issuer may take any relevant action(s) on You in case You fail to make such payments, and that You are and shall be bound by the terms and conditions of the card issuer in relation to Your RuPay credit card and any EMI facility You may avail thereon.
- Once You choose an EMI plan, there is a contractual agreement between You and the issuer of Your RuPay credit card as per the applicable terms and conditions. PhonePe is only facilitating the option for conversion of a particular transaction amount to EMI. Further, PhonePe will have no role for any cancellation, pre-payment or any foreclosure of EMI request raised by You with the relevant issuer of Your RuPay credit card, and You must reach out to Your bank for the same. You further confirm that You have read and understood the terms and conditions pertaining to the conversion of Your transaction amount into an EMI, as well as Your EMI plan, as laid down by Your card issuer in relation to Your RuPay credit card.
- All payments of Your EMI plan shall be made by You to Your card issuer, as per the relevant frequency of the EMI plan selected by You. The card issuer has the right to close the EMI facility in the event of default in payment of EMI by You, for a consecutive period of time, as per the banks policy/ terms.
- If You wish to cancel or pre-pay/ foreclose Your EMI (if allowed by the card issuer associated with Your RuPay credit card), You need to get in touch with Your card issuer for cancelling, pre-paying and/or foreclosing the EMI, and the relevant card issuer may charge a fee in relation to the same. In case the underlying transaction (where the amount was converted to EMI) itself is subsequently cancelled due to any reason, and You are entitled to a refund from the merchant, You should immediately contact Your card issuer and place a request for EMI cancellation. The same shall be handled by the card issuer as per the applicable terms.
- PhonePe will not be responsible or liable for any action of the card issuer in relation to Your RuPay credit card and/or EMI plan and/or any charges levied by the card issuer in relation to the same, and the same shall be solely between You and Your card issuer.
- You hereby consent to and authorize PhonePe to share Your information, which is essential in relation to Your request for the EMI facility, with Your card issuer.
Disputes: If You face any issue in converting Your eligible transaction amount to EMI, You can raise a ticket with PhonePe, as per the Disputes and Grievance section under the UPI ToU. In case of any dispute(s), issues or concerns with respect to Your EMI payment(s), cancellation, pre-payment, or any other issues with the card issuer associated with Your RuPay credit card, You need to directly get in touch with the card issuer associated with Your RuPay credit card.