Terms of Use of PhonePe Wallet

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These terms and conditions regulate the use of Semi Closed Prepaid Payment Instrument or such other services which may be added from time to time under the brand name “PhonePe Wallet” (hereinafter referred to as“PhonePe Wallet” or just “Wallet”) offered by PhonePe Private Limited, a company incorporated under the Companies Act, 1956 with its registered office at Unit No.001, Ground Floor, Boston House, Suren Road, Off. Andheri-Kurla Road, Andheri (East) Mumbai – 400 093, India (hereinafter referred to as“PhonePe”/ “we”/”us”/”our”). PhonePe has been authorised in this regard by the Reserve Bank of India (RBI) in accordance with the provisions of the Payment and Settlements Act, 2007 and the regulations and directions issued by RBI from time to time.

By proceeding to use the PhonePe Wallet, you (“User”/ “you”/ “your”) signify your consent to be bound by these Terms of Use (hereinafter “Wallet T&Cs”) in addition to agreeing to the General PhonePe Terms and Conditions (“General Terms” ) located at  General - Terms & Conditions  and Privacy Policy which is available at   Privacy Policy  . Whenever the context requires “User”/ “you”/”your” shall mean any natural or legal person who is a resident of India, atleast 18 (eighteen) years of age who is eligible to contract within the meaning of the Indian Contract Act, 1872, is not an undischarged insolvent and has registered for PhonePe Wallet by accepting these Wallet T&Cs.

By proceeding to use the Wallet and/or other service offerings of PhonePe, you represent that you are not currently a Politically Exposed Person (“PEP”) as defined by the Reserve Bank of India in Master Direction DBR.AML.BC.No.81/14.01.001/2015-16. However, you agree and undertake to immediately notify PhonePe in circumstances where your status in this regard changes or you become related to a PEP by promptly notifying PhonePe in writing to ensure that appropriate steps are taken in accordance with applicable laws and PhonePe’s standard policy. You further understand that as a PEP you will be subject to additional customer due diligence requirements as determined by RBI as well as transaction monitoring and reporting requirements. As a PEP you hereby agree to fully comply with all the aforesaid additional customer due diligence requirements as well as cooperate with PhonePe to complete all continuing compliance requirements applicable to a PEP as will be notified to you by PhonePe to ensure uninterrupted use of your PhonePe Wallet and other service offerings of PhonePe.

By mere use of the PhonePe wallet, you shall be contracting with PhonePe and these Wallet T & Cs including all policies referenced herein below will constitute Your binding obligations, with PhonePe.

Further, the term "Merchant" shall include any establishment and/or entity who accepts the PhonePe wallet as a payment method for online or offline purchase of goods and/or services. Similarly, the term "Buyer" shall refer to the person who purchases any of the goods or services provided online or offline by the Merchants and pays for such goods/ services through the PhonePe Wallet.

When you transact using the PhonePe Wallet through the PhonePe App or on any Merchant website/ Merchant platform/ Merchant store, these Wallet T & Cs will be applicable to you. We reserve the right, at Our sole discretion, to change, modify, add or remove portions of these Terms of Use, at any time without any prior written notice to You. It is Your responsibility to review these Terms of Use periodically for updates / changes. Your continued use of PhonePe wallet 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 utilize the PhonePe Wallet and other services that maybe offered through PhonePe Wallet from time to time.

USING THE PHONEPE WALLET INDICATES YOUR AGREEMENT TO ALL THE TERMS AND CONDITIONS. HENCE, PLEASE READ THESE TERMS CAREFULLY BEFORE PROCEEDING. By impliedly or expressly accepting the Wallet T&Cs, you also agree and consent to be bound by all PhonePe Policies including the Privacy Policy.

Wallet

  1. Registration, KYC Compliance and PhonePe Wallet Activation:

    • You shall be able to register by creating a PhonePe account through the PhonePe App or any Merchant platform and activating your PhonePe wallet by providing the required details, authorizing yourself by an OTP verification, providing basic details as more fully set out below and agreeing to the Wallet T & Cs.
    • Kindly note that the PhonePe login id created by you shall be used to access all your instruments including but not limited to PhonePe Wallet, Credit/Debit Cards, BHIM UPI and other 3rd Party Wallets.
    • To register for a PhonePe Wallet, you: (i) must be a tax resident of India; (ii) must be atleast 18 (eighteen) years of age; and (iii) have a valid PhonePe Account with us.
    • The types of PhonePe Wallets that will be activated for you will be dependent on the Know Your Customer (“KYC”) details provided by you to PhonePe.
      • What is KYC?

        • “KYC” shall mean Know your Customer and refers to the various norms, rules, laws and statutes issued by the Reserve Bank of India (“RBI”) from time to time under which PhonePe is required to procure personal identification details from you before any services can be delivered. Know your Customer (KYC) documents may be requested for by the merchant (on behalf of PhonePe) from you at the time of activation and/ or at a later date, for availing and / or continuing to use PhonePe wallet.
        • You are informed that, as per RBI guidelines read with the Prevention of Money Laundering Act, 2002 and rules made thereunder it is mandatory to do KYC or provide basic identification details before activation of the PhonePe Wallet for a User. Kindly note that you should provide valid Indian KYC documents for the purposes of verification and activation of the Wallet as more fully stipulated below. PhonePe does not validate any documents of foreign origin.
        • PhonePe shall not be responsible for wrong details being provided by you. In the event the KYC details or beneficial owner information provided by you are found to be incorrect/ insufficient, PhonePe retains the right to refuse activation of your Wallet or cancel your Wallet. Further, PhonePe retains the right to share the details of the transaction undertaken using your PhonePe Wallet and the end beneficiary/ KYC details with RBI, as per statutory guidelines issued from time to time.

      • Wallet Categories:
        The different categories of PhonePe Wallets based on KYC compliance and details provided by a User are as follows: -

        • Old type of minimum KYC Wallet:

          • For initial activation of your PhonePe Wallet, the mobile number of the User will be verified by sending a One Time Password (OTP) to the User’s mobile phone device via SMS. Please note that only mobile numbers of Indian telecom providers will be permitted. The User will then be required to enter the OTP sent to the mobile device on the PhonePe Application’s Wallet activation page. Once the OTP is verified, the User will have to provide a self-declaration of his/ her name and enter the unique identification number of any Officially Valid Document (defined below) as well as accept the Wallet T & Cs. Once the User’s Officially Valid Document self-declaration and Wallet T & Cs acceptance is complete, the PhonePe Wallet will be activated. Please note that you will be allowed to use only one PhonePe Wallet at any given point of time.
          • Users of international mobile numbers shall not be eligible for activation of PhonePe wallet.
          • You agree that if You provide any information that is untrue, inaccurate, not current or incomplete or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with the requirements of PhonePe as intimated from time to time, PhonePe shall have the right to indefinitely suspend, terminate or block access to Your PhonePe Wallet.
          • Officially Valid Document (“OVD”) shall have the meaning as ascribed to the term under the Prevention of Money Laundering Rules, 2005 as amended from time to time and shall inter alia mean the following: -

            • Passport
            • Proof of possession of Aadhar;
            • Driving License;
            • Voter Identity Card issued by the Election Commission of India;
            • Job card issued by NREGA and duly signed by an officer of the State Government;
            • Letter issued by the National Population Register containing details of name, address, or any other document as notified by the Central Government; or
            • Such other documents as maybe designated as OVD from time to time.

          • Features: This category of Wallets are reloadable only through BHIM UPI or a debit card, or from refunds that might arise due to cancellations and returns of your transactions at third party partner Merchant and can be used only for purchasing goods and services from Merchants registered with PhonePe only. Cash loading of PhonePe Wallet is not permitted
          • Top Up and Loading Limits: You will be able to load in this category of Wallet a maximum INR 10,000/- per month, and maximum INR 1,00,000/- in a financial year. In addition, the available balance in such Wallet shall not exceed INR 10,000/- at any given point of time. The same balance will be available for purchases from merchants.
          • Restrictions: Users with Minimum KYC PhonePe Wallets will not be allowed to transfer the money in their Wallets to bank accounts. Wallet to Wallet transfers shall also not be permitted. The only time you can transfer money out of Minimum KYC Wallet is at the point of closure of the Minimum KYC Wallet by transferring the Wallet balance to your own bank account that is linked to your Wallet after completing KYC or transfer money 'back to source' i.e payment source from where the money was loaded). Phonepe shall provide an option to provide details of predesignated bank account to which the balance amount available can be transferred in the event of closure.
          • Loading of Money: If you are a Minimum KYC Wallet holder and your Wallet already has an outstanding balance of Rs. 10,000/- or more, you will not be permitted to perform any further loading unless the balance goes below Rs. 10,000/-.
          • You will be allowed to perform debit transactions in Minimum KYC Wallet upto a maximum of Rs 10,000/- per month.
          • You have the option to fix a cap on the value of transactions and you will be allowed to change the caps, with additional authentication and validation. PhonePe has also incorporated certain velocity checks i.e. restrictions on number/value of wallet top-ups and purchase transactions to prevent, detect and restrict occurrence of fraudulent transactions.
          • There is a certain cooling period before which you cannot withdraw the funds to your bank account after the wallet top up is done. This is done to prevent, detect and restrict occurrence of fraudulent transactions.
          • Purchase Limits: A Minimum KYC Wallet shall have the following purchase limits:-

            Per TransactionPer DayPer MonthPer Financial Year
            Rs. 10,000 Rs. 10,000 Rs. 10,000 Rs. 10,000

          • PhonePe wallet is one of the payment options available to the Users on Merchant platform and We take no responsibility for the products purchased using the PhonePe wallet and any liability thereof is expressly disclaimed. User can pay directly from his/her PhonePe account linked bank, if:

            • The order value exceeds the available amount in the PhonePe wallet; or
            • The User has exceeded his/her limit for Purchases using the wallet, as per the RBI rules

          • Completion of KYC for Minimum KYC Wallets: If you have provided basic details and opened Minimum KYC Wallet Account, then KYC needs to be completed within 18 (eighteen) months from the date you have provided basic identification details. Once KYC is completed, your Minimum KYC Wallet will be upgraded to Full KYC Wallet with enhanced limits and other features as set out in Section 1.2, paragraph C below. If you fail to do so your Wallet with mobile number will be moved to Debit Only Mode. Please refer to section 10- Debit Only Mode of wallet for more details.

        • eKYC Wallets:

          • Please note that if you have done eKYC previously by submitting your Aadhaar, then full KYC needs to be completed within 18 (eighteen) months from the date you have done eKYC. If not done, the Wallet with that mobile number will be moved to Debit Only Mode. Please refer to section 10 - Debit Only Mode of wallet for more details.
          • PhonePe wallet is one of the payment options available to the Users on Merchant platform and We take no responsibility for the products purchased using the PhonePe wallet and any liability thereof is expressly disclaimed. User can pay directly from his/her PhonePe account linked bank, if:

            • The order value exceeds the available amount in the PhonePe wallet; or
            • The User has exceeded his/her limit for Purchases using the wallet, as per the RBI rules

        • Full KYC Wallets:

          • You can also register your Full KYC account or convert your existing Minimum KYC Wallet into a Full KYC Wallet by providing the requisite KYC documentation to PhonePe.
          • For the purpose of completing KYC compliance, you will be required to share documents, such as proof of address, proof of identity, Permanent Account Number (PAN) or Form 60 and your photograph through a digital first KYC compliance process enabled on the PhonePe Application and validated through physical verification process. For more details on the KYC validation process, please refer to Section 3. You hereby give consent to PhonePe for using copies of the original KYC documents (including the information contained in such documents) submitted by You digitally or otherwise ("KYC Documents"), for completing Your KYC and Customer Due Diligence as required under applicable laws, to validate and approve your Full KYC Wallet. If you complete the KYC process to the satisfaction of PhonePe and furnish all details requested for, PhonePe will activate your Full KYC Wallet within a reasonable period of time and of PhonePe will confirm status of your KYC in writing.
          • Features of Full KYC Wallet: You will be able to load money in such Full KYC account upto a maximum of INR 100,000/- (Rupees One Lakh). The available balance in such Full KYC account shall however not exceed INR 100,000/- (Rupees One Lakh) at any given point of time. Money can be topped-up through BHIM UPI or a debit card, or from refunds that might arise due to cancellations and returns of your transactions at third party partner Merchant Platforms or by PhonePe. PhonePe wallet will be displayed as an option on the order return/cancellation screen for all such refunds on the Merchant Platforms. PhonePe has the sole discretion to not allow refunds into the PhonePe wallet for purchases made through any particular payment method.
          • PhonePe wallet can be used to purchase products and services online or offline on any Merchant platform. PhonePe wallet can be used by selecting it as the payment mode at the time of payment. PhonePe currently does not permit money transfer between Wallets.
          • PhonePe wallet is one of the payment options available to the Users on Merchant platform and We take no responsibility for the products purchased using the PhonePe wallet and any liability thereof is expressly disclaimed. User can pay directly from his/her PhonePe account linked bank, if:

            • The order value exceeds the available amount in the PhonePe wallet; or
            • The User has exceeded his/her limit for Purchases using the wallet, as per the RBI rules

          • Please note that you can set the limits on transaction value for purchase made using Phonepe wallet. You can refer to help section in the Phonepe App for more details.
          • Purchase Limits: The purchase limits for this category of Wallets shall be as follows:-

            Per TransactionPer DayPer MonthPer Financial Year
            Rs. 1,00,000/-Rs. 1,00,000/-Rs. 1,00,000/-Rs. 2,00,000/-

          • The User will be allowed to withdraw his/her PhonePe Full KYC Wallet balance to his/her bank account anytime. In all cases, the top-up amount shall be reversed only to the bank account linked to the PhonePe App.
          • There is a certain cooling period before which you cannot withdraw the funds to your bank account after the wallet top up is done. This is done to prevent, detect and restrict occurrence of fraudulent transactions.
          • Withdrawing money from PhonePe wallet in the form of cash is not allowed.
          • However, user can link his/her bank account to PhonePe app and transfer money from PhonePe Wallet to the bank account anytime, subject to limits issued by RBI. The User shall be solely responsible for providing the updated and correct details of his/her bank details. The current limits on withdrawals is as follows: -

            Per TransactionPer DayPer MonthPer Financial Year
            Rs. 5,000/-Rs. 25,000/-Rs. 25,000/-Rs. 3,00,000/-

          • The User shall be solely responsible for providing the updated and correct details of his/her bank details.
          • Please note that although you are permitted to add beneficiaries we have restricted the number of beneficiaries which can be added in the App to 10 per day.
          • You will be receiving an alert via SMS to the registered mobile number when a new beneficiary is added.
          • A User with a Full KYC Wallet can at his/ her option close the Wallet at any time by place a request with PhonePe by writing to [insert e-mail]. The outstanding balance at the time of closure shall be transferred to the Customer’s bank account and/or to ‘back to source’ (payment source from where the Full KYC Wallet was loaded). The Customer hereby agrees and understands that PhonePe shall be entitled to call for the relevant information/documents pertaining to User’s bank account and/or ‘back to payment source’ instrument to which funds have to be transferred post closure of the Full KYC Wallet.

        • New type of Min KYC Wallet:

          • For initial activation of your PhonePe Application and/or wallet activation, two inputs are needed: 1) the mobile number of the User will be verified via a One Time Password (OTP) sent to the User’s mobile phone device via SMS. Please note that only mobile numbers of Indian telecom providers will be permitted, 2)the User will have to provide a self-declaration of his/ her name and enter the unique identification number of any Officially Valid Document or mandatory document as prescribed by RBI and as acceptable to PhonePe from time to time as well as accept the Wallet T & Cs. Once the User’s Officially Valid Document or Mandatory Document self-declaration and Wallet T & Cs acceptance is complete, the PhonePe Wallet will be activated. Please note that you will be allowed to use only one PhonePe Wallet at any given point of time.
          • Users of international mobile numbers shall not be eligible for activation of PhonePe wallet.
          • You agree that if You provide any information that is untrue, inaccurate, not current or incomplete or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with the requirements of PhonePe as intimated from time to time, PhonePe shall have the right to indefinitely suspend, terminate or block access to Your PhonePe Wallet.
          • You agree that information as submitted by you can be used by PhonePe, PhonePe group and associates for it's own purposes and/or while offering other PhonePe services
          • Information provided by You may be disclosed to regulatory / quasi regulatory bodies, or other third parties and auditors as may be required for product offering by PhonePe
          • Officially Valid Document (“OVD”) shall have the meaning as ascribed to the term under the ‘Master Direction - Know Your Customer (KYC) Direction, 2016’ as amended from time to time and shall inter alia mean the following: -

            • Passport;
            • Proof of possession of Aadhar
            • Driving License;
            • Voter Identity Card issued by the Election Commission of India;
            • Job card issued by NREGA and duly signed by an officer of the State Government;
            • Letter issued by the National Population Register containing details of name, address, or any other document as notified by the Central Government; or
            • Such other documents as may be designated as OVD by RBI and collected by PhonePe from time to time.
            • Alternatively, you may provide your PAN Number

          • Features: These PPIs shall be reloadable in nature and issued or electronic form. Loading / Reloading shall be from a bank account (debit cards, UPI or Net banking) as allowed by PhonePe from time to time
          • Top Up and Loading Limits: You will be able to load in this category of Wallet a maximum INR 10,000/- per month, and maximum INR 1,20,000/- in a financial year. In addition, the available balance in such Wallet shall not exceed INR 10,000/- at any given point of time. The same balance will be available for purchase of goods and services from merchants.
          • Restrictions: Users with this new category of min KYC PhonePe Wallet will not be allowed to withdraw the money in their wallet except at the time of closure. On closure, the transfer of money out of Minimum KYC Wallet will be done ‘back to source’ (i.e. payment source from where the money was loaded). Wallet to Wallet transfers shall not be permitted.
          • Loading of Money: If you are a Minimum KYC Wallet holder and your Wallet already has an outstanding balance of Rs. 10,000/- or more, you will not be permitted to perform any further loading unless the balance goes below Rs. 10,000/-.
          • You will be allowed to perform debit transactions in Minimum KYC Wallet upto a maximum of Rs 10,000/- per month.
          • You have the option to fix a cap on the value of transactions and you will be allowed to change the caps, with additional authentication and validation. PhonePe has also incorporated certain velocity checks i.e. restrictions on number/value of wallet top-ups and purchase transactions to prevent, detect and restrict occurrence of fraudulent transactions.
          • In order to prevent, detect and restrict occurrence of fraudulent transaction, the company may apply certain cooling period for fund transfer
          • You have an option to close the PPI at any time and any remaining balance (if any at the time of closure) shall be transferred to the payment source, i.e from where the PPI was loaded.
          • Purchase Limits: A Minimum KYC Wallet shall have the following purchase limits:

            Per TransactionPer DayPer MonthPer Financial Year
            Rs. 10,000Rs. 10,000Rs. 10,000Rs. 1,20,000

          • PhonePe wallet is one of the payment options available to the Users on Merchant platform and Phonepe takes no responsibility for any and all products or services purchased by the user using the PhonePe wallet. Further, PhonePe shall not be liable for any reason whatsoever and any such liability is expressly disclaimed. User can pay directly from his/her PhonePe account linked bank, if:

            • The order value exceeds the available amount in the PhonePe wallet; or
            • The User has exceeded his/her limit for Purchases using the wallet, as per the RBI rules

          • For users who are existing PhonePe wallet customers, You consent to be migrated to the new category from the current PPI category and agree to the terms and Conditions stipulated under this category of PPI for the use of PhonePe services.
          • Users who are existing PhonePe wallet customers being migrated to this category of PhonePe wallet, may choose to opt-out of this new category of PhonePe Wallet within 5 days from migration notification from PhonePe. You may opt out via the PhonePe app by clicking on “Closing PhonePe Wallet'' within the help section on the PhonePe Wallet screen and following the next steps.
          • Users who have an existing PhonePe wallet in “Inactive” state, will get migrated to this new category of PhonePe Wallet upon activation of their wallet account. This migration is expected to happen immediately at the time of activation

  2. General Wallet Terms:

    • Users may note that cash withdrawal from the Wallet is not allowed. Any outstanding credit in the Wallet must be utilized only to make payments for bona fide Transactions at Merchant locations or Person-to-bank transfers.
    • All categories of Wallets are non-transferable in nature.
    • No interest is payable on the outstanding Wallet balances.
    • A User is permitted to operate only 1 (one) Wallet. Any suspected violation of this condition shall constitute grounds for suspension of the User’s access to all Wallet accounts of the User.
    • Further, the continued availability of the PhonePe Wallet shall also be subject to the requirements under law, regulations or directions connected to Semi-closed pre-paid payment instruments.
    • PhonePe reserves the right to suspend/discontinue the Wallet at any time, for any cause, including, but not limited, to the following-

      • For any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of any PhonePe Terms;
      • any suspected discrepancy in the particular(s), KYC documentation provided by the Users; or
      • to combat potential fraud, sabotage, wilful destruction, threat to national security or for any other force majeure event; or
      • PhonePe in its sole opinion and discretion believes that cessation/ suspension of the User’s Wallet is necessary for any other legitimate purpose;

  3. KYC Compliance Terms:

    • For the purpose of providing a convenient experience to Users and ensure that all Users sign up to be fully KYC compliant, PhonePe provides a digital first process to enable Users to comply with KYC requirements. Through this paperless process, you can upload your KYC documents through the PhonePe Application and fix appointments for physical verification at your doorstep.
    • To facilitate the aforesaid, PhonePe provides the facility for doorstep collection of documents through its authorized agents. By continuing to use the PhonePe Services and opting to complete your KYC compliance to be eligible to use the PhonePe Wallet as a Full KYC Wallet, you consent to the sharing of your relevant information with PhonePe’s agents to facilitate the doorstep KYC process. You also consent to agents of PhonePe visiting your pre-registered address or other address you may designate from time to time. However, PhonePe disclaims all warranties as regards the quality or promptness of service delivery of these agents. The doorstep KYC facility may be subject to a service fee which will be communicated to you when you book a slot for our agent visit on the PhonePe Application.
    • KYC documents that PhonePe receives from you either directly or its agents does not guarantee your continued use of your Wallet Account. However, you represent and warrant to PhonePe that the documents you submit and other information you share in connection with the KYC compliance process are true, updated, genuine and correct and you agree to keep PhonePe indemnified and harmless from all loss arising from third party claims including claims from government authorities in connection with the same.
    • PhonePe reserves the right to reject documents submitted by You at the time of verification and require you to resubmit the requisite documents for the purpose of satisfactorily completing KYC subject to such limitations and restrictions on re- attempts as PhonePe may from time to time set out.
    • If you submit your KYC documents necessary for Full KYC Wallet and the documents are verified and approved by PhonePe, your Wallet Account will be upgraded to Full KYC Wallet within a reasonable period of time as will be notified to you by PhonePe. If You fail to meet the KYC requirements for upgrading to Full KYC Wallets, Your Wallet will continue to be a Debit Only Wallet.
    • You also acknowledge that the KYC documents submitted to PhonePe will be valid for any financial products or services offered by PhonePe, its subsidiaries, affiliates or its partners, whenever You opt to use these product and service offerings of Our affiliates and partners. You shall have the option to explicitly consent to PhonePe sharing your KYC information with any partners or affiliates/ subsidiaries of PhonePe in the event you opt to avail of service/ product offerings of our affiliates/ partners and once you have consented, these third parties shall be authorized to use such information purposes connected to their service/ product offerings which you have expressly consented to avail.
    • Confidentiality: We shall ensure that all your confidential data pertaining to money transactions, bank account details and all other sensitive personal information are protected and kept confidential by employing the best available protection standards elaborated in our Privacy Policy.

  4. Refund and Cancellation Terms:

    • In case of any cancellations, the cashback given on the transaction will continue to remain as gift voucher balance and is non-withdrawable to your bank account. This can continue to be used on PhonePe (recharges, bill payments, etc.)
    • Refunded amount less of cashback will be credited back to the source of funds used while making payment.
    • Cashback gift voucher can be used for recharges, bill payments and payments on PhonePe partner platforms/stores.
    • Cashback gift voucher cannot be withdrawn to any linked bank account or transferred to other customers.
    • A user can earn up to maximum INR 9,999 per financial year (i.e. 1 April to 31 March) across all offers disbursed on PhonePe

  5. Charges:

    • Membership is free for Users. PhonePe does not charge its Users any fee for creating an Account or use of Services. PhonePe reserves the right to change its fee policy from time to time. In particular, PhonePe may at its sole discretion introduce new services and modify some or all the existing services offered. In such an event, we reserve the right to introduce fees for the new services offered or amend/introduce fees for existing services, as the case may be. Changes to the fee policy shall be posted on the website and such changes shall automatically become effective immediately after they are posted on the website. Unless otherwise stated, all fees shall be quoted in Indian Rupees.

  6. Validity & Forfeiture Policy:

    • Your PhonePe wallet Account shall have a minimum validity period of 12 (twelve) months from the date of last loading/reloading of the Wallet and PhonePe may extend the validity period for such tenures as PhonePe may in its discretion determine. PhonePe may also terminate the Wallet at its discretion either without assigning reasons or on account of Your breach of these Terms or on account of a directive received from the RBI. Notwithstanding the foregoing, please note that PhonePe reserves the right to terminate Your PhonePe Wallet Account in case of violation of any policy or Terms of Use or any rule/policy issued by the RBI or Government of India or any other concerned body and in such event, any balance in your PhonePe wallet Account shall be credited back to your bank account linked to the PhonePe App. In such an event, PhonePe shall report the matter to the concerned body and may freeze your PhonePe wallet until given a clearance by the concerned body.
    • In the event that Your PhonePe Wallet Account is due for expiry on the grounds as set out herein, PhonePe shall caution You of such impending expiry atleast 45 (forty-five) days prior to the date of expiry by sending a communication in this regard to the e-mail id You have provided to PhonePe at the time of registering with Us. The communication shall be done in English. In the event that there is an outstanding balance in Your Wallet Account, you may at any time subsequent to the expiry of the Wallet make a request to PhonePe to initiate a refund of the outstanding Wallet Account balance and the aforesaid balance will be transferred to a bank account that you had either linked to Your Wallet Account previously or the bank account details you have provided to PhonePe at the time of raising the request for refund. PhonePe further reserves the right to move your PhonePe wallet to Debit Only Mode if You are involved in any suspicious transaction and/or any transaction in gross violation of the rules and regulations issued by the Reserve Bank of India (“RBI”), governing the use of Pre Paid Payment Instruments including but not limited to rules and regulations under Prevention of Money Laundering Act, 2002 and any amendments thereto. In such an event, PhonePe shall report the matter to RBI and shall also freeze your PhonePe wallet account until the receipt of findings, and clear report from RBI in this regard.
    • PhonePe shall caution You during the Forty-Five (45) days period prior to the expiry of the validity period of the PhonePe wallet by way of sending SMS, e- mail, post etc.

  7. One Time closure optionExisting users that do not want to complete KYC will have a one-time option to withdraw money and close the wallet. However, the following conditions shall apply: -

    • Any withdrawable balance will only be transferred to the default account linked in the Wallet as per the default account chosen by you;
    • Any non-withdrawable balance like cashback will be reversed back to PhonePe;
    • No top-ups will be allowed after closure
    • Any pending refunds will not be credited to a PhonePe closed loop wallet
    • Wallet cannot be closed for 7 days if you have recently done a wallet top-up using a debit card

  8. Inactive Wallet

    • Any wallet with no financial transaction for 12 months from the date of wallet creation/KYC status change will be treated as an Inactive Wallet
    • You will not be able to use existing wallet balance for merchant transactions if your Wallet is in inactive state
    • Any pending refunds shall be credited to your Wallet
    • Wallet top-up will also be disabled for inactive Wallets
    • Withdrawal to bank account will also be disabled for inactive Wallets.
    • You will continue to receive the promotional cashback received as Gift Voucher and such cashback amounts can only be used for merchant transactions on the PhonePe App.
    • Your Wallet Account will be reported to the RBI.

    However, you can reactivate the wallet subject to PhonePe completing appropriate due diligence and OTP based validation of the registered mobile number linked to your Wallet.
  9. Debit Only Mode of Wallet:

    • In case of Minimum KYC Wallets:

      • Minimum KYC Wallets will automatically move to Debit Only Mode 365 days/1 year from activation unless a full KYC is satisfactorily completed.
      • User credit to the Wallet, Wallet top-up, will not be allowed once a wallet is moved to Debit Only Mode and the associated mobile number will not be allowed to create a Minimum KYC Wallet in the future
      • Existing wallet balance may be used for merchant transactions
      • Any pending refunds to the Wallet will be credited to such a Wallet even after moving to Debit Only Mode
      • You will continue to receive the promotional cashback received as Gift Voucher and can use it for merchant transactions
      • You may reactivate your Debit Only Mode Wallet after completing your full KYC by submitting the requisite documents as maybe prescribed by PhonePe from time to time.

    • In case of eKYC Wallets:

      • eKYC wallets will automatically move to Debit Only Mode 365 days after eKYC is performed unless full KYC is done for the wallet.
      • User credit to wallet, wallet top-up, will not be allowed once a wallet is moved to Debit Only Mode. The associated mobile number will not be allowed to create a basic details or eKYC wallet.
      • Wallet withdrawal is not allowed for a Debit Only Mode eKYC wallet. However you can continue using the existing wallet balance for the merchant transactions.
      • Any pending refunds to the wallet will be credited to your wallet after moving to Debit Only Mode You will continue to receive the promotional cashback received as Gift Voucher and can use it for merchant transactions
      • The Debit Only Mode wallet can be activated after completing the full KYC.

  10. Prohibited Uses of Wallet:

    • Without prejudice to the other restrictions and limitations contained above, you shall not under any circumstances: -

      • use the Wallet to defraud PhonePe, our affiliates or other members or users, or engage in other unlawful activities (including without limitation dealing in products or services prohibited by law);
      • impersonate any person or entity, falsely claim or otherwise misrepresent an affiliation with any person or entity, or access the accounts of others without permission, forge another person’s digital signatures or perform any other fraudulent activity.
      • post or transmit any message, image or data which is pornographic in nature.
      • purchase anything (products or services) using fraudulent funds
      • use the Wallet balances in a manner that may result in complaints, disputes, imposition of fines, penalties, chargebacks or any other liability to PhonePe; or
      • use the Wallet for money laundering, tax evasion or any other illegal activities.

  11. Your Responsibilities: In connection with your use of the PhonePe Wallet, it shall be your responsibility to adhere to the following:

    • Promptly inform PhonePe of any unauthorized usage of your Wallet or loss of mobile device and any other circumstances which may lead to unauthorized usage of your account. The responsibility of any transaction prior to intimation, will solely be on the registered User;
    • that when you acquire goods or any other services from a Merchant and pay the Merchant through the PhonePe Wallet, you understand that we are not a party to the contract between you and the Merchant. PhonePe does not endorse any advertiser or Merchant linked to its website or app. Furthermore, PhonePe is under no obligation to monitor the Merchant's service used by you; the Merchant alone will be responsible for all obligations under the contract including (without limitation) warranties or guarantees. Any dispute with or complaint against any Merchant must be directly resolved by you with the Merchant. It is clarified that PhonePe shall not be responsible or liable for any deficiency in goods and/or services purchased using PhonePe Wallet balance. You are instructed to satisfy yourself regarding the quality, quantity and fitness of any good and/or service before purchasing the same.
    • In case any amount is transferred erroneously by You to any Merchant or any other person, PhonePe shall not be liable to refund such amount to You under any circumstances.
    • Any web-link on the website to a third-party site is not an endorsement of that web-link. By using or browsing any such other web-link, you shall be subject to the terms and conditions in each such web-link.
    • In the event of any dispute, PhonePe records shall be binding as the conclusive evidence of the transactions carried out through use of PhonePe Wallet.
    • PhonePe shall send all customer communications by SMS and/or email and they shall be deemed to have been received by You after they have been submitted for delivery to the SMS/email service providers.
    • agree to receive all commercial message including transactional messages from PhonePe/ Merchant.
    • To use the Wallet in good faith and in compliance with all applicable laws and regulations.
    • be solely responsible for payment of any taxes, duties or other governmental levies or any financial charges that may be imposed on any products or services purchased or supplied by a Merchant or otherwise arising from online transactions.
    • ensure that the PhonePe Wallet is not used for Transactions in foreign currency. PhonePe Wallet is issued & shall be valid only in India and shall be used at Merchant located in India only.

  12. Anti- Money Laundering:

    • PhonePe strongly condemns and prohibits money laundering and any activity that facilitates money laundering or financing of terrorist or criminal activities. At PhonePe the directors, officers, employees and any other individuals or organisations associated with PhonePe are supposed to adhere to the applicable law.

  13. Unauthorised Transactions and Redressal:

    • An unauthorized transaction occurs when a payment is made from your account that you did not authorize. For example, if someone makes a transaction from your account using a stolen password, an unauthorized transaction has occurred. If you provide access to your Wallet to a third party (by disclosing your login information or any other information) and they conduct transactions without your knowledge or permission, you are responsible for any resultant use.
    • The liability of any misuse is solely Yours, until you report the issue to PhonePe.
    • In the event of an unauthorized transaction in your account, you should immediately notify PhonePe if you believe:

      • there has been an Unauthorized Transaction or unauthorized access to your account;
      • there is an error in your account history statement (you can access your account history statement by logging into your app and go to transaction history section;
      • your PhonePe username and password and/or bank account BHIM UPI PIN has been compromised;
      • your device with the PhonePe App has been lost, stolen or deactivated;

    • For unauthorized transactions or errors in your Account, notify us by Calling on 0124-6789-345 or by sending an email using this link https://support.phonepe.com"

  14. No Refunds:

    • All payments made through PhonePe for mobile/ DTH recharge, bill pay, P2P transfers shall be final. Such transactions cannot be refunded, returned or cancelled once initiated.

  15. User Errors:

    • If you erroneously send a payment to the wrong party or send a payment for the wrong amount (for instance a typographical error at your end) your only recourse will be to contact the party to whom you have sent the payment and ask them to refund the amount. PhonePe will not reimburse you or reverse a payment that you have erroneously made.
    • However, if We discover an error at Our end, as a consequence of which You receive a lesser amount than your entitlement as a credit to the Wallet, PhonePe may credit your account for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, PhonePe may debit the extra funds from your Wallet balance.

  16. Wallet Related Disclaimers:

    • You agree that all risks arising from online transactions will be borne by You.
    • PhonePe and third-party partners make no warranty, express or implied regarding the quality of Services including but not limited to: i) the Services will meet your requirements; II) the Services will be uninterrupted, timely or error free; or III) any products, information or material obtained by You in connection with the services will meet Your requirements.
    • Except as expressly provided herein and to the full extent permitted by law, the Wallet feature is 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 Services and other information provided by PhonePe or generally available. We do not authorise anyone to make any warranty on our behalf and You should not rely on any such statement.
    • In no event will PhonePe be liable for any indirect, consequential, incidental, special or punitive damages, including without limitation damages for loss of profits or revenues, 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 use the Services, however caused and whether arising in contract, tort, negligence, warranty or otherwise, exceed the amount paid by You for using the Services giving rise to the cause of action or Rupees One Hundred (Rs. 100) whichever is less.
    • If you have a dispute with other parties, you release PhonePe (and our affiliates and officers, directors, agents, and employees thereof) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.

  17. Governing law and Dispute Resolution:

    • This Agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Wallet Terms of Use, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India.
    • If any dispute or difference of any kind whatsoever shall arise between the parties in connection with or arising out of or in connection with your use of the PhonePe Wallet, you and PhonePe’s designated employee or representative shall promptly and in good faith negotiate with a view to arriving at an amicable resolution and settlement of the dispute or difference.
    • In the event no amicable resolution or settlement is reached within a period of thirty (30) days, such dispute or difference shall be referred to a mutually acceptance single arbitrator or, upon the failure of the parties to agree upon a single arbitrator, within a period of ten (10) days, each party shall appoint one arbitrator each and the two appointed arbitrators shall appoint the third arbitrator who shall act as the presiding arbitrator under the provisions of the Indian Arbitration and Conciliation Act, 1996. The arbitration proceedings shall be held at Bangalore.
    • The existence of any dispute or difference or the initiation or continuance of the arbitration proceedings shall not postpone or delay the performance by the parties of their respective obligations under this Agreement. It is agreed that the arbitrators shall also determine and make an award as to the costs of the arbitration proceedings. Notwithstanding anything contained herein, the parties shall have a right to institute legal proceedings to prevent any continuing breach and to seek an injunctive or any other specific relief.
    • Subject to and without prejudice to the amicable settlement and arbitration clauses contained above, the courts in Bengaluru, Karnataka shall have exclusive jurisdiction to try and adjudicate all matters arising in connection with your use of the Wallet or other matters covered herein.

  18. Other Terms:

    All other terms including terms such as User Registration, Privacy, User Responsibilities, Indemnification, Liability, Intellectual Property, Confidentiality and General Provisions are deemed to be incorporated into these Wallet Terms of Use by reference.

Terms of Use of External Wallet

  1. External wallets are third party pre-paid payment instruments which are enabled inside PhonePe Application.
  2. PhonePe is only facilitating:
    • the usage of External wallet balance at various merchants.
    • Loading of External wallet balance by using instruments saved on PhonePe.
    PhonePe in no way is responsible for creation or regulatory adherence of External wallets for the above use cases.
  3. By agreeing to link your ‘External Wallet’ on PhonePe, you are confirming that you have read and agreed to all terms and conditions as set-out by the respective wallet companies on their websites/Applications.
  4. By linking your External Wallets to PhonePe, you are authorizing PhonePe to perform multiple operations on your External Wallets which includes, but is not limited to, debiting amounts against payments due to merchants, checking balance, crediting refunds and loading your External Wallet Balance etc.
  5. PhonePe reserves the right to disable the ‘External wallet’ option during payments.
  6. PhonePe reserves the right to de-link the ‘External Wallet’ from PhonePe at any point in time without prior intimation.
  7. Loading of External wallets inside PhonePe App is subject to KYC Terms & conditions and wallet limits defined by respective External wallets
  8. In case of failure of wallet loading and if PhonePe receives the money the amount would be refunded back to the source.
  9. If you do not have sufficient external wallet balance to complete a merchant payment you can combine it with PhonePe Wallet, Debit/Credit Card or BHIM UPI.

Other Responsibilities

  1. You shall promptly inform us for any unauthorized usage of your account, lost/stolen/misplaced/ device or account details, and any other circumstances which may lead to unauthorized usage of your account. The responsibility of any transaction prior to intimation, will solely be on the registered User.
  2. You agree and understand that when you acquire goods or any other services from a Merchant platform through PhonePe Services, we are not a party to the contract between you and the Merchant. We do not endorse any advertiser or Merchant linked to its website or app. Furthermore, we are under no obligation to monitor the Merchant's service used by you; the Merchant alone will be responsible for all obligations under the contract including (without limitation) warranties or guarantees. Any dispute with or complaint against any Merchant must be directly resolved by the User with the Merchant. It is clarified that We shall not be responsible or liable for any deficiency in goods and/or services purchased using PhonePe Services. You are instructed to satisfy yourself regarding the quality, quantity and fitness of any good and/or service before purchasing the same.
  3. In case any amount is transferred erroneously by the You to any Merchant or any other person , PhonePe shall not be liable to refund such amount to You under any circumstances.
  4. Any web-link on the website to a third party site is not an endorsement of that web-link. By using or browsing any such other web-link, you shall be subject to the terms and conditions in each such web-link.
  5. In the event of any dispute, PhonePe records shall be binding as the conclusive evidence of the transactions carried out through use of PhonePe Services.
  6. PhonePe shall send all customer communications by SMS and/or email and they shall be deemed to have been received by You after they have been submitted for delivery to the SMS/email service providers.
  7. You agree to receive all commercial message including transactional messages from PhonePe/Merchant.
  8. You will use the Services in good faith and in compliance with all applicable laws and regulations.
  9. The information and material you provide in connection with the use of the Services is true, lawful and accurate, and is not false, misleading or deceptive.
  10. You should be solely responsible for payment of any taxes, duties or other governmental levies or any financial charges that may be imposed on any products or services purchased or supplied through the Services or otherwise arising from online transactions.
  11. You shall not use PhonePe Services for any purpose that might be construed as contrary or repugnant to any applicable law, regulation, guideline, judicial dicta, Terms of Use or for any purpose that might negatively prejudice the goodwill of PhonePe.
  12. You shall ensure that the PhonePe Services are not used for Transactions in foreign currency. PhonePe services are issued & shall be valid only in India and shall be used at Merchants only in India.

Prohibitions

    You shall not:
  1. use the Services to defraud PhonePe, our affiliates or other members or users, or engage in other unlawful activities (including without limitation dealing in products or services prohibited by law).
  2. impersonate any person or entity, falsely claim or otherwise misrepresent an affiliation with any person or entity, or access the accounts of others without permission, forge another persons digital signatures or perform any other fraudulent activity.
  3. post or transmit any message, image or data which is pornographic in nature.
  4. purchase anything (products or services) using fraudulent funds
  5. use the Services in a manner that may result in complaints, disputes, imposition of fines, penalties, chargebacks or any other liability to PhonePe.
  6. use PhonePe services for money laundering, tax evasion or any other illegal activities.

Consent to Electronic Communications and Transactions

By registering with Us, you consent to conduct transactions and receive communications, notices and information from us electronically, whether sent by e-mail or other electronic means. Electronic communications shall be deemed to have been received by you when We send the electronic communication to the email address/mobile number that as per our records, or when We post the electronic communication on the website. The requirements for such electronic transactions and communications following: you must have access to the Internet, mobile web, applications and a valid e-mail address. You can withdraw your consent at any time by contacting Us, but We reserve the right to terminate your Account upon such withdrawal. Withdrawal of your consent will not affect the legal validity and enforceability of any notice, statement or disclosure previously received electronically. You agree to notify us promptly if your email address, phone number or other contact information changes by updating your account information or contacting us.

Anti-Money Laundering Policy

PhonePe strongly condemns and prohibits money laundering and any activity that facilitates money laundering or financing of terrorist or criminal activities. At PhonePe the directors, officers, employees and any other individuals or organisations associated with PhonePe are supposed to adhere to the applicable law.

Erroneous Transaction

Unauthorized Transactions

An unauthorized transaction occurs when a payment is made from your account that you did not authorize. For example, if someone makes a transaction from your account using a stolen password, an unauthorized transaction has occurred. If you provide access to your account to a third party (by disclosing your login or/and BHIM UPI PIN or MPIN information or any other information) and they conduct transactions without your knowledge or permission, you are responsible for any resultant use. The liability of any misuse is solely Yours, until you report the issue to PhonePe.

An unauthorized transaction occurs when your Debit/Credit card details and OTP(one time password) or ATM PIN details are compromised and they conduct transactions without your knowledge or permission, you are responsible for any resultant use. The liability of any misuse is solely Yours, until you report the issue to PhonePe.

In the event of an unauthorized transaction in your account, you should immediately notify PhonePe if you believe:

  1. there has been an Unauthorized Transaction or unauthorized access to your account;
  2. there is an error in your account history statement (you can access your account history statement by logging into your app and go to transaction history section;
  3. your PhonePe username and password and/or bank account BHIM UPI PIN has been compromised;
  4. your device with the PhonePe App has been lost, stolen or deactivated;
For unauthorized transactions or errors in your Account, notify us by Calling on 0124-6789-345 or by sending an email using this link https://support.phonepe.com

PhonePe Errors

We will rectify any error that we discover. If the error results in your receipt of less than the correct amount to which you are entitled, PhonePe may credit your account for the difference. If the error results in your receipt of more than the correct amount to which you are entitled, PhonePe may debit the extra funds from your account.

User Errors

If you erroneously send a payment to the wrong party, or send a payment for the wrong amount (for instance a typographical error at your end) your only recourse will be to contact the party to whom you have sent the payment and ask them to refund the amount. PhonePe will not reimburse you or reverse a payment that you have erroneously made.

No Refunds

All payments on PhonePe for mobile/DTH recharge, Bill Pay, P2P transfers are final. Such transactions cannot be refunded/ returned or cancelled once initiated.

Indemnification

You agree to indemnify and hold PhonePe, its affiliates, employees, directors, officers, agents and representatives and to hold them harmless, from any and all losses, damages, actions, claims and liabilities (including legal costs on a full indemnity basis) which may arise, directly or indirectly, from your use or misuse of the Services or from your breach of the Terms of use of the Services. PhonePe reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify PhonePe including right to settle, and you agree to co-operate with PhonePe defense and settlement of these claims. PhonePe shall use reasonable efforts to notify You of any claim, action or proceeding brought by a third party that is subject to the aforesaid indemnification.

Amendment

We will send notice of any change to You that involves an increase in fees or liability for You ("Material Change"), to the registered email address, and that Material Change will be effective 15 days from the earlier of posting it to our Website or otherwise communicating it to You. You will be deemed to accept any Material Change if you use the Website or Services after the 15-day notice period. We may make Material Changes without prior notice if immediate changes are necessary for security reasons.

PhonePe may suspend and/or terminate your PhonePe wallet anytime with or without prior notice due to any change in rules, regulations and laws by the relevant government authorities/regulators. In addition, your bank may suspend/ terminate BHIM UPI services at anytime with or without prior notice. PhonePe will not be responsible for such service outages.
PhonePe may revoke, suspend and/or terminate your Virtual Private Address (BHIM UPI) registered against your PhonePe account anytime with or without prior notice at its sole discretion.

Intellectual Property Rights

Intellectual Property Rights for the purpose of this Terms of Use shall always mean and include copyrights whether registered or not, patents including rights of filing patents, trademarks, trade names, trade dresses, house marks, collective marks, associate marks and the right to register them, designs both industrial and layout, geographical indicators, moral rights, broadcasting rights, displaying rights, distribution rights, selling rights, abridged rights, translating rights, reproducing rights, performing rights, communicating rights, adapting rights, circulating rights, protected rights, joint rights, reciprocating rights, infringement rights. All those Intellectual Property rights arising as a result of domain names, internet or any other right available under applicable law shall vest in the domain of PhonePe as the owner of such domain name. The Parties hereto agree and confirm that no part of any Intellectual Property rights mentioned hereinabove is transferred in the name of User and any intellectual property rights arising as a result of these presents shall also be in the absolute ownership, possession and Our control or control of its licensors, as the case may be.

Trademark, Copyright and Restriction

All material on this site, including images, illustrations, audio clips, and video clips, are protected by copyrights, trademarks, and other intellectual property rights. Material on Website is solely for Your personal, non-commercial use. You must not copy, reproduce, republish, upload, post, transmit or distribute such material in any way, including by email or other electronic means and whether directly or indirectly and You must not assist any other person to do so. Without the prior written consent of the owner, modification of the materials, use of the materials on any other platform or networked computer environment or use of the materials for any purpose other than personal, non-commercial use is a violation of the copyrights, trademarks and other proprietary rights, and is prohibited. Any use for which You receive any remuneration, whether in money or otherwise, is a commercial use for the purposes of this clause.

Limitation of Liability

IN NO EVENT SHALL PHONEPE OR ITS AFFILIATED COMPANIES, SUBSIDIARIES, OFFICERS, DIRECTORS, EMPLOYEES OR ANY RELATED PARTY BE LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES OR ANY LOSS OF REVENUE OR PROFITS ARISING UNDER OR RELATING TO THESE TERM OF USE. TO THE EXTENT PERMITTED BY LAW, OUR MAXIMUM AGGREGATE LIABILITY TO YOU FOR ANY CAUSES WHATSOEVER, AND REGARDLESS OF THE FORM OF ACTION (WHETHER LIABILITY ARISES DUE TO NEGLIGENCE OR OTHER TORT, BREACH OF CONTRACT, VIOLATION OF STATUTE, MISREPRESENTATION OR FOR ANY OTHER REASON) WHATSOEVER WILL AT ALL TIMES BE LIMITED TO INR ONE HUNDRED (INR 100).

Suspension or Breakdown of Systems

If You are unable to use the Services as a result of improper operation of the systems due to any of the following reasons, You agree you will not hold PhonePe and our affiliates liable for:

  1. System suspension which has been announced by PhonePe in advance through any mode of communication;
  2. Failure in data transmission due to breakdown in the telecommunications equipment and systems;
  3. Failure in system operations due to breakdown resulting from typhoon, earthquake, tsunami, flood, electricity blackout, war, terrorist attack, and other force majeure events which are beyond our reasonable control; or
  4. The Services are interrupted or delayed due to hacking, authority, website upgrade, banks, and other reasons.

Dispute Resolution; Governing Law; Jurisdiction

Dispute Resolution

If any dispute or difference of any kind whatsoever shall arise between the parties in connection with or arising out of the us of the Services (whether before or after the termination or breach of this Agreement) the concerned representatives of the parties shall promptly and in good faith negotiate with a view to an amicable resolution and settlement of the dispute.

In the event no amicable resolution or settlement is reached within a period of thirty (30) days, such dispute or difference shall be referred to a mutually acceptance single arbitrator or, upon the failure of the parties to agree upon a single arbitrator, within a period of ten (10) days, each party shall appoint one arbitrator each and the two appointed arbitrators shall appoint the third arbitrator who shall act as the presiding arbitrator under the provisions of the Indian Arbitration and Conciliation Act, 1996. The arbitration proceedings shall be held at Bangalore.

The existence of any dispute or difference or the initiation or continuance of the arbitration proceedings shall not postpone or delay the performance by the parties of their respective obligations under this Agreement. It is agreed that the arbitrators shall also determine and make an award as to the costs of the arbitration proceedings. Notwithstanding anything contained herein, the parties shall have a right to institute legal proceedings to prevent any continuing breach and to seek an injunctive or any other specific relief.

Jurisdiction

Subject to the above clause, the Courts of Bangalore, Karnataka, alone shall have the jurisdiction to try and adjudicate all suits, legal proceedings, etc. arising out of this Agreement.

Governing Law

This Agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Agreement, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India.

Disclaimer

  1. You agree that all risks arising from online transactions will be borne by You.
  2. PhonePe and third party partners make no warranty, express or implied regarding the quality of Services including but not limited to: i) the Services will meet your requirements; II) the Services will be uninterrupted, timely or error free; or III) any products, information or material obtained by You in connection with the services will meet Your requirements.
  3. Except as expressly provided herein and to the full extent permitted by law, the 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 Services and other information provided by PhonePe or generally available. We do not authorise anyone to make any warranty on our behalf and You should not rely on any such statement.
  4. In no event will PhonePe be liable for any indirect, consequential, incidental, special or punitive damages, including without limitation damages for loss of profits or revenues, 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 use the Services, however caused and whether arising in contract, tort, negligence, warranty or otherwise, exceed the amount paid by You for using the Services giving rise to the cause of action or Rupees One Hundred (Rs. 100) whichever is less.
  5. If you have a dispute with other parties, you release PhonePe (and our affiliates and officers, directors, agents, and employees thereof) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.

General Provisions

  1. If any provision of this Agreement is held to be invalid or otherwise unenforceable, then that provision shall be deleted and the remaining provisions shall remain valid and enforceable.
  2. Headings are for convenience purposes only and in no way define, limit, construe or describe the scope or extent of such section.
  3. Any failure by PhonePe to exercise any of our rights under this Agreement shall not constitute a waiver of such right or a waiver with respect to subsequent or similar breach. A waiver shall be effective only if made in writing.
  4. PhonePe shall have the right to assign this Agreement (including all of our rights, titles, benefits, interests, and obligations and duties in this Agreement) to any of our affiliates and to any successor in interest. PhonePe may delegate certain of PhonePe rights and responsibilities under this Agreement to independent contractors or other third parties. You may not assign, in whole or part, this Agreement to any person or entity without our prior written consent which may be withheld at our sole discretion.
  5. If there is any conflict between the English version and another language version of this Agreement, the English version shall prevail.