Terms and Conditions

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Terms and Conditions

This document is an electronic record in terms of Information Technology Act, 2000, amendments thereof from time to time and the rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

Please read the terms and conditions carefully before registering, accessing or using the Services (defined below). The terms and conditions is a legal contract ("Agreement") between You and PhonePe Private Second Floor, Mohan Cooperative Industrial Area New Delhi,

South Delhi - 110044, India. You agree and acknowledge that you have read the terms and conditions set forth below. If you do not agree to bound by these terms and conditions, you may not use the Services and/or immediately terminate the these terms and conditions or do not wish to be Services.

We may amend the terms and conditions at any time by posting an updated version at www.phonepe.com ("PhonePe Site"). The updated version of the Terms of Service shall take effect immediately upon posting. . It is Your responsibility to review these Terms of Use periodically for updates / changes. Your continued use of PhonePe App following the posting of changes will mean that You accept and agree to the revisions including additional Terms or removal of portions of these Terms, modifications etc. . As long as You comply with these Terms of Use, We grant You a personal, non-exclusive, non-transferable, limited privilege to enter and avail the Services.

USING PHONEPE APP INDICATES YOUR AGREEMENT TO ALL THE TERMS AND CONDITIONS UNDER THESE TERMS OF USE, SO PLEASE READ THE TERMS OF USE CAREFULLY BEFORE PROCEEDING. By impliedly or expressly accepting these Terms of Use, You also accept and agree to be bound by PhonePe Policies (including but not limited to Privacy Policy) available Limited(“PhonePe”) having its registered office at A 41, on the PhonePe website www.phonepe.com as amended from time to time.

Terms of Service

PhonePe is a payment solution which facilitates payments and acts as such by creating, hosting, maintaining and providing Services to you via the Internet. PhonePe provides its Services to customers through 'PhonePe' mobile payments application (“PhonePe App”), which acts as a container for various payment instruments including but not limited to Wallet. Debit/Credit card, Unified Payment Interface (“BHIM UPI”)and External Wallets (hereinafter collectively referred to as “Services”). PhonePe provides its Services to businesses by enabling them to accept payments and services from its customers for the products and/or services on their platform via PhonePe App.

PhonePe facilitates payments and services in connection with online transactions for products or services concluded on and through the PhonePe App and website, or any third party merchant app, website, physical store or any individual both within and outside the PhonePe network.

By using the Services, you acknowledge and agree that PhonePe is not a bank and the Services should in no way be construed as the provision of banking services.

Services

PhonePe offers its services in compliance with local laws and regulations.

PhonePe App comprises of the following payment instruments/services:

PhonePe Wallet :

"PhonePe Wallet" is a Semi-Closed Pre-paid Payment Instrument approved by the "Reserve Bank of India" vide Authorisation number: 98/2016 dated 9th December 2016. If you do not have sufficient wallet balance to make a purchase you can combine it with Credit/Debit Card and/or BHIM UPI.

Direct-Debit Using UPI:

The Unified Payment Interface ("BHIM UPI") is a payment service platform ("Platform") developed by National Payments Corporation of India ("NPCI"), an umbrella organization incorporated in 2008 and acting as the settlement/clearing house/regulatory agency for BHIM UPI services. The application software ("PhonePe App") connects the Platform in partnership/association with Yes Bank Limited ("YBL"), a bank licensed under the Banking Regulation Act, 1949.

Debit/Credit Cards:

You can make merchant payments, recharge/bill payments and other In-App category purchases using Debit/Credit cards. We have partnered with multiple banks which follow the standard regulations and safety standards to enable this solution.

External Wallets:

You can use wallet balance from external wallets which are available inside the PhonePe App to make merchant payments, recharges/bill payments and In-App category purchases. If you do not have sufficient external wallet balance you can combine it with PhonePe Wallet, Debit/Credit Card or BHIM UPI. Please note that BHIM UPI and Debit/Credit card modes cannot be combined to make a merchant payments,recharge/bill payments and In-App category Purchases.

PhonePe Gift Card:

"PhonePe Gift Card" is a Semi-Closed Pre-paid Payment Instrument approved by the "Reserve Bank of India". If you do not have sufficient Gift Card balance to make a purchase you can combine it with Wallets, and Credit/Debit Card or BHIM UPI.

Eligibility

PhonePe Services are currently available to customers with an active Indian mobile number, a smartphone and having a bank account in India.

PhonePe UPI payment is available only to people :

  • with bank accounts in one of the UPI member banks
  • who have provided the same mobile number to PhonePe (during registration) as the one registered with their respective bank

Registration

In order to use the full spectrum of PhonePe Services, You need to register on the PhonePe App and provide Us with accurate and complete information. You are also required to keep your accounts and contact information complete and updated at all times. Any account found to contain incorrect and/or outdated information will be suspended.

You can also register with PhonePe from any third party merchant platform. But in such cases, PhonePe BHIM UPI service may not be enabled. You may have to download the PhonePe app to link your bank account and enable BHIM UPI transactions from PhonePe.

Contact Information

Mobile Number

Upon downloading the PhonePe App, You have to necessarily allow permission to PhonePe to send an SMS from Your smartphone to PhonePe’s Virtual mobile number, which allows PhonePe to verify Your mobile number and register Your device details against Your PhonePe account. This is a mandatory security step, and You accept that PhonePe has the sole right to not allow you to use Your PhonePe app without the completion of this step.

It is Your responsibility to provide Your correct mobile number so that We can communicate with You via SMS. You understand and agree that if We send you an SMS but You do not receive it because Your mobile number on file is incorrect or out of date, blocked by your service provider, or you are otherwise unable to receive SMS, We shall be deemed to have provided the communication to You effectively. Please note that if You use a spam filter that blocks or re-routes SMSes from senders not listed in Your contacts, you must ensure that PhonePe SMSes are marked as trusted as 'not-spam', so that you will be able to view the Communications we send to you.

The mobile number provided by you should be the same as registered with your bank against your bank account, to enable BHIM UPI transactions from PhonePe app. PhonePe will not be liable for any such mismatch leading to your failure to access BHIM UPI transactions on PhonePe app.

Email Address

It is Your responsibility to keep Your primary email address up to date so that We can communicate with You electronically. You understand and agree that if We send you an electronic communication but You do not receive it because Your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic Communications, We shall be deemed to have provided the communication to You effectively. Please note that if You use a spam filter that blocks or re-routes emails from senders not listed in Your email address book, you must add PhonePe to your email address book so that you will be able to view the Communications we send to you.

You can update your primary email address at any time by logging into the PhonePe App. If Your email address becomes invalid such that electronic communications sent to you by Us is returned, We may deem your account to be inactive, and You will not be able to transact any activity using your PhonePe Account until We receive a valid, working primary email address from you.

Device Information

The device (smartphone) on which You download PhonePe App and use during registration, shall become Your registered device and it's details shall be stored by us. The moment You log into your PhonePe account from a different device using the PhonePe app, You will be asked to allow PhonePe to send an SMS from the new device, after which the new device becomes the registered device. You will not be able to access your PhonePe account or authorize BHIM UPI transactions using your previous device until you re-login and re-authorize yourself on that device.

Any Other information

We may ask for and store additional information to either extend more Services or even as additional requirement for continuing the existing Services or sub-services.

Terms of Use of Payment Instruments/Services


By agreeing to this Agreement you hereby agree to the PhonePe Terms of Use for its services, which may be updated by PhonePe from time to time. All transactions concluded by users using PhonePe on the PhonePe the platform of any of its affiliates and partners, or any third party platform, which can accept payments and services from PhonePe users, will be in accordance with the PhonePe Terms of Use.


Privacy

We collect, hold, use and transfer Your personal data in accordance with Our Privacy Policy. By agreeing to the Terms of Service, You hereby agree to Our Privacy Policy, which may be updated by Us from time to time. You understand and agree that, to the extent permitted by applicable law, any data provided by You in connection with the Services may be shared with Our affiliates or partners. Please refer to the link below for detailed terms and conditions on Our  Privacy Policy.

User Responsibilities

Beneficial Owner

You must be the beneficial owner of the Account, and conduct business only on behalf of yourself.

Username and Password

You must be the beneficial owner of the Account, and conduct business only on behalf of yourself.

A set of username and password is unique to Your use of the Service and You shall not share, assign or permit the use of Your username and password to any other persons. You acknowledge that sharing of Your username and password with other persons (collectively, "multiple use") may cause irreparable harm to PhonePe. You shall indemnify PhonePe against any loss or damage suffered by PhonePe as a result of such multiple use. You undertake to notify PhonePe immediately of any unauthorized use of your username or password or any other breach of security. You agree that PhonePe shall not be liable for any loss or damage arising from your failure to comply with this section.

  1. You shall be solely responsible for:
    • maintaining the confidentiality of Your PhonePe username and password
    • maintaining the confidentiality of Your Bank account BHIM UPI PIN and OTP messages
    • maintaining the confidentiality of any credentials or/and information using which, one can impersonate you
    • all transactions and activities that occur under your username and password
    • all consequences of use or misuse of your username and password
    • never sharing any of the above credentials with anyone including anyone claiming-from or from bank, PhonePe etc.
  2. If you are a business entity, you agree that all officers, employees, agents, representatives and others having access to the username and/or password have been duly authorized by you to use the Services on your behalf and to legally bind you. You shall be responsible for all actions by current and former officers, employees, agents, representatives and others, regardless of whether authorized by you, that access the Services using the business' user name and password.


You must be the beneficial owner of the Account, and conduct business only on behalf of yourself.

Wallet User Obligations

  1. You must ensure the availability of sufficient funds before executing any transaction from your Account.

  2. If you have submitted KYC documents to us, You shall intimate us about change in your address, if any, in writing along with such proof of address as per the KYC documents.

  3. Your PhonePe wallet might be a trusted instrument with certain merchants after validating your identity, in such cases misuse of wallet because of auto-authentication on same device because of lost/theft/misuse of device or information will be solely User's responsibility.

BHIM UPI User Obligations

  1. You must ensure the availability of sufficient funds in the bank account before executing any transaction from your Account.

  2. You acknowledge, represent and warrant that the BHIM UPI PIN generated by You, at any time, that is either before/at the time of linking Your account with PhonePe BHIM UPI or regenerated anytime thereafter, provides access to the fund transfer through your linked bank a/c and that You are the sole and exclusive owner, and the only authorized user of the BHIM UPI PIN. You accept sole responsibility for use, confidentiality and protection of the BHIM UPI PIN as well as for the Services availed through the use of BHIM UPI PIN. The BHIM UPI PIN is issued and verified by the Bank and is neither stored nor accessed by PhonePe. The User grants express authority to PhonePe for carrying out instructions authenticated by such BHIM UPI PIN. The User unconditionally undertakes to have BHIM UPI PIN of such number of digits as may be notified by Bank from time to time and to ensure that the same is kept confidential. If the User forgets the BHIM UPI PIN, then the User may regenerate the BHIM UPI PIN from his PhonePe App.

  3. You authorize PhonePe to forward to your bank, your request to debit your linked bank account when You link your account with PhonePe App. You are solely responsible for complying with any terms set by your bank or with respect to your account, including any fee terms, such as non-sufficient fund or overdraft fee terms.