Simplifying Payment Collections for Your Business.
This document constitutes an electronic record in accordance with the provisions of the Information Technology Act, 2000, the rules made there under including the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 and other applicable laws, as amended from time to time. This electronic record is generated by a computer system and does not require any physical, electronic, or digital signature for its validity or enforceability. These Terms and Conditions of Use (“Terms”), together with any schedules, annexures, policies, guidelines, service-specific terms, and documents incorporated by reference, govern your access to and use of the website located at https://www.indiconnect.in, include all associated web pages, mobile applications, APIs, dashboards, software, integrations, content, products, features, tools, and services made available by Indiconnect Paytech Private Limited (“Indiconnect”, “Company”, “We”, “Us”, or “Our”).
Indiconnect Paytech Private Limited is a company incorporated under the provisions of the Companies Act, 2013 and having its registered office at Fl. No. 2, Pl. No. 61, Mangal Murti Apartment, Basayye Nagar, Sambhajinagar (Aurangabad), Maharashtra – 431001 and corporate office at Office No. 412, Tower – 2, World Trade Center (WTC), Opp. EON IT Park, Kharadi, Pune – 411014, Maharashtra, India.
“Applicable Laws” shall mean all applicable laws, statutes, rules, regulations, notifications, circulars, directions, guidelines, judgments, governmental orders, regulatory requirements, and industry standards having the force of law, including those issued by the Reserve Bank of India (“RBI”), National Payments Corporation of India (“NPCI”), Financial Intelligence Unit – India (“FIU-IND”), Unique Identification Authority of India (“UIDAI”), Indian Computer Emergency Response Team (“CERT-In”), payment networks, and any other competent governmental, regulatory, judicial, or statutory authority.
Indiconnect primarily acts as a technology service provider and infrastructure facilitator. Certain payment, banking, settlement, verification, onboarding, authentication, or other regulated financial services made available through the Website may be provided, operated, or fulfilled by regulated banks, financial institutions, payment system providers, network participants, or authorized third-party partners in accordance with applicable laws and regulatory requirements.
Before accessing or using the Website or any Services, You must carefully read these Terms together with the Privacy Policy and any applicable service-specific terms (collectively, the “Agreement”). By accessing, browsing, registering with, integrating with, or otherwise using the Website or Services, You acknowledge that You have read, understood, and agreed to be bound by this Agreement.
Such acceptance may be provided through website access, account registration, API integration, click-wrap acceptance, electronic communications, continued use of the Services, or any other legally recognized electronic means.
You acknowledge and agree that electronic records, transaction logs, audit trails, authentication records, API logs, system-generated records, communications, timestamps, and other digital evidence maintained by Indiconnect may be relied upon for operational, compliance, fraud prevention, dispute resolution, investigative, evidentiary, and legal purposes in accordance with applicable law.
Indiconnect reserves the right to modify, amend, update, suspend, discontinue, or replace any part of the Website, Services, or these Terms at any time in its sole discretion. Any such modification shall become effective upon publication on the Website unless otherwise specified. Your continued access to or use of the Website or Services following such publication shall constitute Your acceptance of the revised Terms.
Indiconnect may suspend, restrict, limit, investigate, or terminate access to the Website or Services, in whole or in part, at any time where required for compliance, fraud prevention, risk management, security purposes, operational requirements, legal obligations, regulatory directions, or suspected violations of these Terms.
If You do not agree with these Terms, the Privacy Policy, or any subsequent modifications thereto, You must immediately discontinue access to and use of the Website and Services.
The Services are intended for use only in jurisdictions where such use is permitted under applicable law. Indiconnect reserves the right to restrict or deny access to any person, entity, geography, transaction type, or activity at its sole discretion and in accordance with applicable laws, regulatory requirements, internal risk policies, and business considerations.
1.1. You acknowledge and agree that Indiconnect and/or its licensors exclusively own all rights, title, and interests in and to the Website, Services, software, APIs, SDKs, dashboards, applications, technology, documentation, content, workflows, databases, trademarks, trade names, logos, domain names, proprietary information, know-how, trade secrets, business processes, and all intellectual property rights therein, whether registered or unregistered, including any modifications, enhancements, updates, derivative works, and improvements thereto.
You further acknowledge that the Services may contain confidential, proprietary, commercially sensitive, or trade secret information belonging to Indiconnect and/or its licensors. You shall maintain the confidentiality of such information and shall not disclose, publish, reproduce, distribute, or otherwise make available such information to any third party without the prior written consent of Indiconnect.
1.2. Subject to compliance with these Terms, Indiconnect grants You a limited, revocable, non-exclusive, non-transferable, non-sublicensable right to access and use the Website and Services solely for their intended lawful purpose.
Except as expressly permitted under these Terms, You shall not directly or indirectly:
1.3. Indiconnect shall retain all rights, title, and interest in anonymized, aggregated, statistical, analytical, operational, fraud-monitoring, risk-management, security, performance, and platform intelligence data generated through the use of the Services, provided such information does not identify any individual in contravention of applicable law.
1.4. Any suggestions, feedback, enhancement requests, recommendations, ideas, comments, or other inputs provided by You regarding the Services may be used by Indiconnect without restriction, obligation, compensation, or attribution, and You hereby grant Indiconnect a perpetual, irrevocable, worldwide, royalty-free right to use and incorporate the same into its products and services.
2.1. In order to use the Website and Services, you must register as a user and be at least 18 years old and capable of entering into binding contracts in accordance with applicable laws. you are responsible for keeping your passwords, login, and account information confidential. you will be liable for all activities conducted on the Website and/or Services using your password and login information, whether authorized by you or not. you are also responsible for maintaining the confidentiality of any login information and secure access credentials associated with your Indiconnect account. Indiconnect will not be responsible for any unauthorized use of your account or credentials on the Website.
2.2. You agree to provide accurate and complete information about yourself as prompted by the Website. If you provide false, inaccurate, outdated, or incomplete information, or if Indiconnect has reasonable grounds to suspect that your information is false, inaccurate, outdated, or incomplete, Indiconnect has the right to suspend or terminate your account and/or refuse your current or future use of the Website or Services.
2.3. You acknowledge and agree that Indiconnect may send service-related communications, transactional alerts, compliance notifications, security updates, operational messages, and other communications relating to the Services through email, SMS, telephone, messaging applications, dashboard notifications, or other communication channels.
2.4. Where permitted under Applicable Laws and subject to Your preferences and consent, Indiconnect, its affiliates, partners, service providers, and authorized third parties may communicate with You regarding products, services, offers, promotions, or other business-related opportunities.
2.5. You authorize Indiconnect to share information with partner banks, financial institutions, Facility Providers, affiliates, vendors, service providers, regulators, governmental authorities, and authorized third parties for service delivery, onboarding, KYC, due diligence, compliance, fraud prevention, risk management, operational support, and other lawful purposes. Such processing and sharing shall be governed by the Privacy Policy and Applicable Laws.
2.6. You acknowledge that Indiconnect may undertake due diligence measures and request information for Know-Your-Customer (KYC) purposes for any payment or financial transaction through the Website. You are responsible for understanding and complying with all applicable laws, including RBI Guidelines on Regulation of Payment Aggregators and Payment Gateways, Payment and Settlement Systems Act, 2007, Prevention of Money Laundering Act, 2002, KYC/AML/CFT guidelines issued by the Department of Regulation, RBI, and other applicable laws in your jurisdiction in connection with your business and use of Services. Indiconnect may also undertake enhanced due diligence measures in accordance with applicable laws.
2.7. Prior to commencing any Service(s) under these Terms, you agree and promise to provide Indiconnect with the necessary documents (referred to as "KYC Documents") as determined by Indiconnect in its sole discretion, or as required by Facility Providers, governmental authorities, or law enforcement agencies, to enable Indiconnect to conduct due diligence on you and your business/activities. Indiconnect has the right to share the KYC Documents (or the information contained therein) and other related documents with Facility Providers, governmental authorities, or law enforcement agencies, as required by Applicable Laws. you expressly consent to Indiconnect relying on the KYC Documents provided by you for the purpose of providing Services. Furthermore, you acknowledge and agree that Indiconnect reserves the right to monitor, review, retain, and/or disclose any information related to the Service(s) as necessary to comply with Applicable Laws, legal processes, or governmental requests.
2.8. Indiconnect has the right to request from you additional KYC Documents and/or KYC related or other documents of your customers or invoices, in its sole discretion and/or as required by Applicable Laws or pursuant to requests from governmental authorities or Facility Providers. If you fail to submit the KYC Documents when requested, Indiconnect is entitled to suspend the Services and/or stop settlement of funds (as applicable) until you submit such KYC Documents to the sole satisfaction of Indiconnect.
Indiconnect reserves the right, at its sole discretion, to suspend, restrict, investigate, decline, reverse, withhold settlements, terminate, or otherwise limit access to any Service, transaction, account, Merchant, or activity where required under Applicable Laws, regulatory requirements, Facility Provider requirements, fraud prevention measures, risk management practices, cybersecurity concerns, sanctions screening obligations, or where suspicious, unlawful, unauthorized, or high-risk activity is identified or reasonably suspected.
2.9. You agree that Indiconnect is not responsible for any delivery, after-sales service, payment, invoicing, collection, customer inquiries (including sales inquiries), technical support, maintenance services, or any other obligations or services related to or in respect of your products or services. Such obligations are your sole responsibility. You shall indemnify Indiconnect against any claims arising from such services or obligations and shall bear any and all expenses and/or costs related thereto.
You acknowledge and agree that You shall remain solely responsible for:
2.10. During your use of the Services, you declare that you, your affiliates, and/or its Beneficial Owner are not a Politically Exposed Person. You shall immediately notify us in writing if this declaration becomes untrue during any period of your use of the Services. Capitalized terms used here but not defined shall have the meaning ascribed to them in the KYC Guidelines issued by the RBI, as amended from time to time.
2.11. You acknowledge and agree that the collection, processing, storage, sharing, transfer, and use of Personal Information shall be governed by Indiconnect's Privacy Policy, the Digital Personal Data Protection Act, 2023, and other Applicable Laws. You authorize Indiconnect to obtain, verify, process, store, and share information from governmental authorities, public registries, Facility Providers, service providers, credit bureaus, verification agencies, and other authorized sources for onboarding, KYC, due diligence, fraud prevention, risk management, compliance, and service delivery purposes.
2.12. You agree not to use the Website and/or Services for any purpose that is unlawful, illegal, or prohibited by these Terms, or any local laws that may apply to you. Since the Website is operated in India, while using the Website and/or the Services, you agree to comply with the laws that apply in India. We may, at our sole discretion, at any time and without advance notice or liability, suspend, terminate, or restrict your access to all or any component of the Website and/or Services.
2.13. Prohibited actions on this Website include posting or transmitting:
2.14. You represent and warrant that:
2.15. You further covenant and agree that you will ensure that:
2.16. You acknowledge that the Services are complex and require the involvement of the Facility Providers. You acknowledge and agree that Indiconnect will only be liable for acts or omissions that are solely and directly attributable to Indiconnect.
You shall maintain appropriate safeguards to protect passwords, authentication credentials, API keys, access tokens, OTPs, and account access mechanisms. You shall be solely responsible for losses arising from credential compromise, phishing, malware, social engineering, unauthorized access, or security failures attributable to You or Your systems. Indiconnect shall not be liable for any such losses.
2.17. To use the Services, you must ensure that Indiconnect's solutions are integrated with your platform. It is clarified that any Server to Server (S2S) integration, if done, is solely for the purpose of availing the Services and is intended to be used or accessed only by you.
2.18. You must assist Indiconnect in providing KYC Documents, relevant books, original copies of proof of transactions, invoices, or other records to its auditors, Facility Providers, governmental authorities, or law enforcement agencies upon request from time to time. You must retain records related to transactions for a period of 10 (ten) years from the relevant date of the order placed on your website. Indiconnect, Facility Providers, governmental agencies, and/or law enforcement agencies are entitled to audit and inspect the records and other data related to customer's orders at any time without prior notice. You shall retain records relating to transactions, invoices, customer communications, KYC documentation, and supporting evidence for a minimum period of ten (10) years from the relevant transaction date or such longer period as may be required under Applicable Laws, regulatory directions, audit requirements, investigations, dispute resolution proceedings, or legal proceedings.
2.19. You must not (whether online or otherwise):
2.20. When a customer purchases goods or services from you, you may, at your sole discretion, impose any convenience fee on the customer. You are responsible for any losses incurred by Indiconnect as a result of the charge of any such convenience fee by you to your customers. You must also indemnify Indiconnect for such liability or losses.
You shall be solely responsible for ensuring that any convenience fee, surcharge, levy, charge, or similar amount imposed upon Customers complies with Applicable Laws, regulatory requirements, card network rules, and Facility Provider requirements. Indiconnect shall not be responsible for any liability arising from such charges.
3.1. Indiconnect shall levy applicable fees for the provision of Services, which may be updated by Indiconnect at its sole discretion in terms of manner, rates, and frequency of charges. Indiconnect reserves the right to introduce new fees, revise existing fees, modify billing structures, or discontinue any fee concession, promotional pricing, or discount upon publication on the Website, dashboard, or through any other communication channel, unless otherwise agreed in writing.
3.2. Fees charged by Indiconnect are exclusive of applicable taxes, which Indiconnect may charge from time to time. Any changes in applicable taxes during the term of these Terms shall be borne by you. All payments due to Indiconnect shall be made without set-off, counterclaim, deduction, withholding, or adjustment except to the extent required under Applicable Laws.
3.3. Invoices for fees charged for Services provided during each month will be raised by Indiconnect and made available on the dashboard. Any disputes regarding an invoice must be communicated to Indiconnect by you through a notice within ten (10) days from the date of the invoice. Any undisputed portion of an invoice shall remain payable in accordance with the applicable payment terms. Raising a dispute shall not entitle You to withhold, delay, or defer payment of any undisputed amount.
3.4. You are responsible for daily reconciliation of all processed transactions. Any discrepancies must be reported to Indiconnect within three (3) working days. However, if reconciliation issues are highlighted by you to Indiconnect after three (3) working days from the transaction date, Any reconciliation issue, discrepancy, claim, dispute, settlement concern, or transaction-related query reported after the prescribed period may be reviewed by Indiconnect at its sole discretion, subject to data availability, Facility Provider records, regulatory requirements, and operational feasibility, and Indiconnect shall not be obligated to investigate or resolve such delayed claims.
3.5. For fees deducted upfront before provision of a specific Service, it is agreed that if you deposit applicable taxes under Section 194H of the Income Tax Act, 1961 (in respect of invoices received by you) and furnish Form 16-A for such taxes paid to Indiconnect, then Indiconnect shall reimburse you, on a quarterly basis, the amount in respect of such taxes paid. In all other cases, in case LTDC is provided as per the LTDC issued, applicable taxes under Section 194H of the Income Tax Act, 1961 will be withheld by you at the time of payment of the Fees. You shall deposit the withheld taxes with the government treasury, file the statutorily mandated returns, and furnish the requisite tax deduction certificate (Form 16-A) to Indiconnect within the prescribed timelines, to enable Indiconnect to obtain full credit for the taxes deducted at source. Any loss of tax credit, denial of deduction, interest, penalty, demand, assessment, or adverse tax consequence arising from Your failure to comply with applicable tax obligations shall be solely borne by You.
3.6. You are solely responsible for updating your GST registration number on the Indiconnect dashboard before Indiconnect generates the invoice and submitting the GST certificate as part of KYC. Indiconnect will raise a GST tax invoice and report the transactions in the GST returns based on the information provided by you. The GST returns will be filed as per the statutory timelines, to enable you to avail appropriate input tax credit. Indiconnect shall not be responsible for any mistakes or misrepresentations by you in updating the GST number and other particulars as per the GST certificate. Furthermore, any liability raised on Indiconnect by the GST authorities due to incorrect information provided by you or deliberate withholding of any statutory information by you shall be recovered by Indiconnect from you. You shall indemnify and keep Indiconnect indemnified against any tax demand, interest, penalty, disallowance, loss of input tax credit, assessment, proceeding, cost, expense, or liability arising from incorrect, incomplete, misleading, inaccurate, or outdated information provided by You.
Indiconnect shall have the right, without prior notice, to recover, deduct, set-off, withhold, adjust, or debit any amount due, payable, owed, disputed, contingent, anticipated, or arising from chargebacks, refunds, reversals, penalties, taxes, assessments, regulatory actions, investigations, customer claims, fraud losses, operational losses, legal expenses, indemnity claims, or any other liability from settlements, reserve balances, security deposits, rolling reserves, future receivables, linked bank accounts, or any other amounts payable to You.
Any amount remaining unpaid beyond the applicable due date shall attract interest at the rate of 18% per annum or the maximum rate permitted under Applicable Laws, whichever is lower, from the due date until the date of actual payment, without prejudice to any other rights or remedies available to Indiconnect.
Indiconnect reserves the right to audit, verify, inspect, and reconcile transaction records, settlement records, invoices, tax records, and payment-related information for the purpose of validating fees, recoveries, settlements, deductions, chargebacks, refunds, and compliance obligations.
By accessing or using the Website or Services, You acknowledge that You have read, understood, and agreed to the Privacy Policy available on the Website. You further acknowledge and agree that Indiconnect may collect, process, store, use, disclose, transfer, and otherwise handle Your information, including Personal Information, in accordance with the Privacy Policy, Applicable Laws, regulatory requirements, and legitimate business purposes relating to the provision, security, compliance, improvement, and operation of the Services.
Where required under Applicable Laws, Your consent shall be obtained for specific processing activities. You acknowledge that certain Services may not be available, may be restricted, or may be discontinued if the information required for providing such Services, undertaking KYC, fraud prevention, regulatory compliance, or operational purposes is not provided or if the relevant consent is withdrawn.
The Privacy Policy forms an integral part of these Terms and is incorporated herein by reference.
The Website or Services may contain links to, integrations with, connections to, or access to third-party websites, applications, software, content, products, services, APIs, payment systems, financial institutions, banks, verification providers, technology service providers, or other external resources ("Third-Party Services").
Such Third-Party Services are provided solely for convenience and may be governed by separate terms, conditions, privacy policies, and operational practices of the relevant third parties. Indiconnect does not own, operate, control, monitor, endorse, guarantee, or assume responsibility for any Third-Party Services or the accuracy, legality, availability, security, performance, quality, or reliability thereof.
Your access to and use of any Third-Party Services shall be solely at Your own risk and subject to the terms and policies of the relevant third party. Indiconnect shall not be responsible or liable for:
Indiconnect may share information with Third-Party Services where necessary for providing Services, complying with Applicable Laws, regulatory requirements, fraud prevention measures, security obligations, operational purposes, or in accordance with the Privacy Policy.
Nothing contained on the Website shall be construed as an endorsement, sponsorship, recommendation, partnership, guarantee, or warranty by Indiconnect in relation to any Third Party Services unless expressly stated otherwise.
The Website may provide information regarding financial products, banking services, lending facilities, payment services, verification services, investment-related offerings, current accounts, and other products or services offered by banks, financial institutions, regulated entities, payment system providers, NBFCs, or other authorized third-party partners ("Partner Services").
Such Partner Services are offered, operated, underwritten, administered, and fulfilled solely by the respective partner institutions in accordance with their applicable terms, eligibility criteria, policies, and regulatory requirements.
Indiconnect acts solely as a technology platform, facilitator, referral partner, distributor, aggregator, or integration provider (as applicable) and does not provide, issue, underwrite, guarantee, approve, sanction, administer, or assume responsibility for any Partner Services unless expressly stated otherwise.
Any application, onboarding, approval, rejection, pricing, interest rate, credit limit, account opening, investment decision, disbursement, settlement, servicing, suspension, or termination relating to Partner Services shall remain the sole responsibility of the relevant partner institution.
Users are advised to independently review the applicable terms, conditions, disclosures, privacy policies, and product documentation of the relevant partner institution before availing any Partner Services.
Indiconnect shall not be liable for any loss, claim, rejection, delay, dispute, service deficiency, financial loss, regulatory action, or other consequence arising from or relating to any Partner Services or any decision taken by the relevant partner institution.
Except as expressly provided under these Terms and to the maximum extent permitted under Applicable Laws, the Website, Services, APIs, software, integrations, dashboards, content, and all related features are provided on an "as is", "as available", and "with all faults" basis.
Indiconnect does not represent or warrant that:
You acknowledge that the Services may depend upon banks, financial institutions, payment system providers, card networks, regulators, telecommunications providers, cloud service providers, technology vendors, internet service providers, governmental authorities, and other third-party entities beyond Indiconnect's reasonable control. Indiconnect shall not be responsible for any interruption, delay, failure, error, inaccuracy, loss, or unavailability arising from the acts, omissions, failures, outages, restrictions, or decisions of such third parties.
To the fullest extent permitted under Applicable Laws, all express, implied, statutory, or other warranties, including any implied warranties of merchantability, satisfactory quality, fitness for a particular purpose, non-infringement, title, quiet enjoyment, accuracy, availability, performance, or reliability, are expressly disclaimed.
8.1. To the fullest extent permitted under Applicable Laws, Indiconnect, its affiliates, directors, officers, employees, agents, licensors, service providers, Facility Providers, contractors, representatives, and partners shall not be liable for any direct, indirect, incidental, special, exemplary, punitive, consequential, or economic loss or damage whatsoever, including loss of profits, revenue, business opportunity, goodwill, reputation, anticipated savings, data, use, contracts, customers, or business interruption arising out of or in connection with:
8.2. Notwithstanding anything contained in these Terms, and to the maximum extent permitted under Applicable Laws, the aggregate liability of Indiconnect arising out of or relating to the Website, Services, or these Terms, whether arising in contract, tort (including negligence), strict liability, statutory liability, or otherwise, shall not exceed the lower of:
8.3. Indiconnect shall have no liability whatsoever for:
8.4. Any liability of Indiconnect shall be proportionately reduced to the extent that any loss, damage, claim, liability, or expense has been caused, contributed to, or aggravated by You, Your customers, affiliates, service providers, employees, agents, contractors, or any third party acting on Your behalf.
You shall defend, indemnify, and hold harmless Indiconnect, its affiliates, group companies, directors, officers, employees, agents, representatives, licensors, Facility Providers, payment system providers, banks, partners, successors, and assigns (collectively, the “Indemnified Parties”) from and against any and all losses, liabilities, claims, actions, proceedings, damages, penalties, fines, costs, expenses, demands, settlements, assessments, judgments, investigations, regulatory actions, and reasonable legal fees and expenses arising out of or relating to:
Indiconnect shall have the right to recover any amounts payable under this Clause by deduction, set-off, withholding, adjustment, debit, or recovery from settlements, reserve balances, security deposits, future receivables, linked bank accounts, or any other amounts payable to You.
The indemnities contained herein shall survive suspension, termination, expiration, discontinuation of Services, closure of accounts, and termination of these Terms.
10.1. "Card Payment Network Rules" refer to the written rules, regulations, releases, guidelines, processes, interpretations, and other requirements (whether contractual or otherwise) imposed and adopted by the card payment networks. These card payment networks have infrastructure and processes to enable transaction authorization. You are required to comply with all applicable guidelines, rules, and regulations formulated by them.
10.2. The card payment networks reserve the right to amend their guidelines, rules, and regulations. We may be required to amend, modify or change these Terms pursuant to amendments to the Card Payment Network Rules and such amendments, modifications, directions, advisories, mandates, interpretations, or requirements shall automatically become binding upon You from the date specified by the relevant Card Payment Network, regulator, Facility Provider, or Indiconnect, as applicable.
10.3. You agree to fully comply with all programs, guidelines, and requirements that may be published and/or mandated by the card payment networks. Despite our assistance in understanding the Card Payment Network Rules, you expressly acknowledge and agree that you are assuming the risk of compliance with all provisions of the Card Payment Network Rules, regardless of whether you are aware of or have access to those provisions. MasterCard, Visa, Diners, RuPay, and American Express make excerpts of their respective rules available on their websites.
10.4. You shall be solely responsible for complying with all applicable Card Payment Network Rules and requirements. If any fine, assessment, chargeback monitoring fee, compliance fee, fraud-related assessment, penalty, levy, loss, liability, expense, investigation cost, remediation cost, monitoring program fee, data compromise assessment, non-compliance fee, or other amount is imposed upon or recovered from Indiconnect, any Facility Provider, acquiring bank, payment system provider, or card payment network as a result of:
then You shall immediately reimburse, indemnify, and hold harmless Indiconnect for the full amount of such losses, liabilities, penalties, costs, expenses, and assessments upon demand.
10.5. Without prejudice to any other rights available to Indiconnect, Indiconnect may suspend settlements, establish reserves, withhold funds, impose transaction limits, restrict processing, require corrective measures, suspend onboarding of new customers, or immediately suspend or terminate the Services where:
10.6 Where applicable, You shall comply with PCI-DSS requirements, Card Payment Network Rules, data security standards, information security requirements, and any other technical, operational, or compliance requirements prescribed by the relevant card payment network, acquiring bank, Facility Provider, regulator, or Indiconnect from time to time. Any failure to comply with such requirements shall constitute a material breach of these Terms.
10.7. Indiconnect shall not be liable for any action, restriction, penalty, assessment, suspension, monitoring program classification, fine, operational requirement, or decision imposed by any card payment network, acquiring bank, issuing bank, Facility Provider, or regulator in connection with Your activities, transactions, or compliance obligations.
No failure, delay, omission, relaxation, forbearance, or partial exercise by Indiconnect of any right, power, privilege, remedy, or provision under these Terms or under Applicable Laws shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power, privilege, or remedy preclude any other or further exercise thereof.
Any waiver, consent, approval, or concession granted by Indiconnect in respect of any breach, default, non-compliance, delay, omission, transaction, or event shall not constitute a waiver of any subsequent or continuing breach, default, non-compliance, delay, omission, transaction, or event, whether of a similar or different nature.
The continued provision of Services, processing of transactions, release of settlements, acceptance of payments, or failure to immediately exercise any right or remedy shall not be construed as a waiver of any rights available to Indiconnect under these Terms, Applicable Laws, regulatory requirements, Card Payment Network Rules, Facility Provider requirements, or otherwise.
Any waiver shall be effective only if expressly made in writing and signed by an authorized representative of Indiconnect. No oral statement, course of dealing, trade practice, email communication, operational conduct, or delay in enforcement shall constitute a waiver by Indiconnect.
Indiconnect shall not be liable for any failure, delay, interruption, suspension, degradation, or inability to perform any of its obligations, provide the Services, process transactions, settle funds, or operate the Website to the extent such failure, delay, interruption, suspension, degradation, or inability results from or is caused by a Force Majeure Event.
For the purposes of these Terms, a “Force Majeure Event” shall include, without limitation, acts of God, flood, earthquake, fire, storm, lightning, epidemic, pandemic, public health emergency, war, invasion, armed conflict, terrorism, cyberattack, hacking, malware, ransomware, denial-of service attacks, data breach, communication failure, internet disruption, power outage, cloud infrastructure failure, utility failure, labour dispute, strike, lockout, civil unrest, riot, embargo, sanctions, governmental action, judicial order, regulatory restriction, RBI directions, NPCI mandates, actions of card networks, banking system failures, payment system disruptions, Facility Provider restrictions, or any other event or circumstance beyond the reasonable control of Indiconnect.
During the continuance of a Force Majeure Event, Indiconnect shall be excused from the performance of the affected obligations and shall not be deemed to be in breach of these Terms or otherwise liable for any losses, damages, penalties, claims, costs, expenses, delays, service interruptions, settlement delays, transaction failures, data loss, or other consequences arising therefrom.
Indiconnect reserves the right to suspend, restrict, modify, or discontinue any part of the Services during the occurrence of a Force Majeure Event where reasonably necessary to protect the integrity, security, compliance, stability, or operation of the Services, payment ecosystem, users, or business operations.
You shall comply with all applicable anti-bribery, anti-corruption, anti-money laundering, counter-terrorist financing, sanctions, anti-fraud, and other Applicable Laws, regulations, guidelines, and regulatory requirements.
You represent, warrant, and undertake that neither You nor any of Your directors, partners, shareholders, beneficial owners, employees, agents, representatives, affiliates, contractors, or persons acting on Your behalf shall directly or indirectly:
You shall promptly notify Indiconnect upon becoming aware of any investigation, enforcement action, regulatory inquiry, sanctions-related matter, fraud event, corruption allegation, money laundering concern, or violation of this Clause.
Indiconnect reserves the right, at its sole discretion and without liability, to suspend, restrict, withhold settlements, investigate, report to competent authorities, terminate Services, or take any other action deemed necessary where it reasonably suspects a violation of this Clause, Applicable Laws, sanctions requirements, AML/CFT obligations, or regulatory requirements.
You shall indemnify and hold harmless Indiconnect, its affiliates, directors, officers, employees, Facility Providers, and partners against any loss, liability, penalty, fine, assessment, investigation cost, regulatory action, claim, damage, or expense arising from or relating to any breach of this Clause.
14.1 Assignment and Transfer
You shall not assign, transfer, delegate, novate, subcontract, create any encumbrance over, or otherwise dispose of any of Your rights, interests, or obligations under these Terms without the prior written consent of Indiconnect.
Indiconnect may assign, transfer, novate, delegate, subcontract, or otherwise transfer any of its rights, interests, obligations, or benefits under these Terms, in whole or in part, to any affiliate, group company, successor entity, acquirer, purchaser, transferee, lender, service provider, or any other third party without obtaining Your consent or providing prior notice.
Any permitted assignment shall be binding upon and inure to the benefit of the parties and their respective successors and permitted assigns.
14.2 Set-Off and Recovery Rights
Without prejudice to any other rights or remedies available to Indiconnect, You irrevocably authorize Indiconnect to recover, deduct, debit, withhold, adjust, set-off, or appropriate any amount due, payable, contingent, disputed, anticipated, or otherwise owed by You to Indiconnect, its affiliates, Facility Providers, banks, payment system providers, or partners against any settlements, reserves, receivables, balances, deposits, credits, refunds, or other amounts payable to You under these Terms or any other arrangement with Indiconnect or its affiliates.
Where such recovery is insufficient, You shall immediately pay the outstanding shortfall upon demand.
14.3 Merchant Representations
You represent, warrant, and undertake that:
14.4 Amendments
Indiconnect reserves the right to amend, modify, supplement, update, replace, suspend, discontinue, or revise these Terms, the Privacy Policy, related policies, operational requirements, pricing, features, Services, or any associated documentation at any time.
Any such amendment may be made to comply with Applicable Laws, regulatory directions, Card Payment Network Rules, Facility Provider requirements, business requirements, operational changes, risk management considerations, technological developments, industry practices, security requirements, or organizational restructuring.
The revised version shall become effective upon publication on the Website or through any other communication mechanism determined by Indiconnect. Continued access to or use of the Services after such publication shall constitute acceptance of the revised Terms.
14.5 Dynamic Currency Conversion (DCC)
Where Dynamic Currency Conversion (“DCC”) services are made available through the Services, such services may be provided by banks, payment system providers, card networks, Facility Providers, or authorized third-party partners.
The applicable foreign exchange conversion rate, mark-up, fees, taxes, charges, and other costs relating to DCC transactions shall be displayed or communicated in accordance with applicable requirements. By selecting or proceeding with a DCC transaction, the end user acknowledges and agrees to the applicable conversion terms and charges.
Indiconnect acts solely as a technology facilitator in relation to DCC services and shall not be responsible for foreign exchange rates, conversion calculations, pricing decisions, fees, charges, settlement outcomes, or disputes relating to DCC transactions that are determined by the relevant service provider.
Requests relating to DCC invoices or transaction details may be submitted through the contact details notified by Indiconnect from time to time.
Indiconnect may display, publish, distribute, or make available advertisements, promotional content, sponsored content, partner offerings, product recommendations, marketing campaigns, or other commercial communications through the Website, mobile applications, dashboards, electronic communications, social media platforms, or other channels.
Such advertisements, recommendations, or promotional communications may be based on information relating to Your use of the Services, preferences, interactions, location, transaction history, account profile, or other information processed in accordance with the Privacy Policy and Applicable Laws.
Where required under Applicable Laws, promotional communications shall be subject to Your consent and communication preferences. You may opt out of certain promotional communications in accordance with the mechanisms provided by Indiconnect, provided that service-related, transactional, compliance, security, legal, or operational communications may continue to be sent where necessary.
The appearance of any advertisement, sponsored content, third-party offering, or promotional material on the Website shall not constitute an endorsement, recommendation, warranty, guarantee, or representation by Indiconnect regarding the quality, suitability, legality, availability, or performance of the advertised products or services.
Indiconnect shall not be responsible or liable for any loss, damage, claim, dispute, deficiency, or liability arising from Your interaction with, reliance upon, purchase of, subscription to, or use of any third-party advertisement, product, service, offer, promotion, or content.
16.1 Suspension of Services
Without prejudice to any other rights or remedies available to Indiconnect, Indiconnect may, at its sole discretion and without prior notice or liability, suspend, restrict, withhold settlements, establish reserves, reverse transactions, decline processing, limit access to, investigate, or discontinue any part of the Services where:
16.2 Termination
These Terms shall remain effective from the date You first access or use the Services and shall continue until terminated by either party.
Indiconnect may terminate, suspend, discontinue, restrict, or close Your account and access to the Services, in whole or in part, at any time and for any reason permitted under Applicable Laws, regulatory requirements, internal risk policies, operational considerations, or business requirements.
16.3 Effect of Termination
Termination, suspension, restriction, discontinuation, or closure of Services shall not affect any rights, remedies, liabilities, obligations, recoveries, indemnities, settlements, chargebacks, disputes, investigations, audits, taxes, fees, penalties, or claims that accrued prior to such termination.
Indiconnect may continue to withhold settlements, maintain reserves, recover outstanding amounts, investigate transactions, comply with regulatory obligations, respond to law enforcement requests, process chargebacks, resolve disputes, retain records, and take any other action required under Applicable Laws or operational requirements following termination.
You shall remain liable for all obligations, liabilities, fees, fines, penalties, chargebacks, refunds, reversals, taxes, assessments, losses, indemnity obligations, and amounts owed to Indiconnect arising before or after termination in connection with Your use of the Services.
Indiconnect shall not be liable for any compensation, reimbursement, loss of business, loss of profits, goodwill, data, opportunities, or damages arising from any suspension, restriction, withholding, investigation, reserve creation, termination, or discontinuation of the Services.
(A) Illegal Activities
(B) Regulated Financial Activities
(C) Adult and Offensive Content
(D) Weapons and Hazardous Materials
(E) Drugs and Controlled Substances
(F) Intellectual Property Violations
(G) Fraud and Cybercrime Services
(H) High-Risk Businesses
(I) Restricted Goods
(J) Other Prohibited Activities
Any activity which:
Indiconnect provides technology-enabled payment aggregation, payment processing, collection, settlement facilitation, verification, reconciliation, and related services through integrations with banks, payment system providers, card networks, Facility Providers, and other authorized partners.
The availability, scope, features, functionality, transaction limits, settlement timelines, payment methods, and operational processes relating to the Services may vary depending upon regulatory requirements, Facility Provider requirements, risk assessments, technical constraints, product configurations, and business considerations.
You acknowledge and agree that:
Nothing contained herein shall obligate Indiconnect to provide any specific Service, payment method, feature, Facility Provider integration, transaction volume, settlement arrangement, or commercial offering.
2.1 Payment Processing Services
Subject to the General Terms of Use, these Specific Terms, Applicable Laws, regulatory requirements, and Facility Provider requirements, Indiconnect shall facilitate the collection, processing, routing, reconciliation, and settlement of payments received from Customers for products and services offered by You through the Services.
Indiconnect acts solely as a technology platform and payment aggregation service provider and does not assume responsibility for the underlying transaction between You and the Customer.
2.2 Settlement of Funds
Subject to successful receipt of funds into the Escrow Account, reconciliation, risk review, Applicable Laws, Card Payment Network Rules, Facility Provider requirements, and deduction of Permissible Deductions, Indiconnect shall endeavour to settle the Transaction Amount into Your designated bank account in accordance with applicable settlement timelines.
Settlement timelines are indicative and may be revised due to regulatory requirements, Facility Provider requirements, operational considerations, banking delays, reconciliation requirements, disputes, investigations, chargebacks, fraud reviews, or force majeure events.
2.3 Early Settlement Recovery
Where Indiconnect provides settlement prior to actual receipt of corresponding funds into the Escrow Account or prior to final confirmation from Facility Providers, such settlement shall be deemed provisional.
Indiconnect reserves the right to immediately recover, reverse, debit, set-off, withhold, or adjust any amount prematurely settled where the corresponding funds are not received, are reversed, are disputed, are subject to chargeback, fraud review, regulatory restriction, operational failure, or for any other reason whatsoever.
2.4 Transaction Limits
Indiconnect may establish, modify, impose, reduce, suspend, or remove transaction limits, processing limits, settlement limits, reserve requirements, velocity limits, exposure limits, or other operational restrictions at its sole discretion based on risk assessments, regulatory requirements, fraud monitoring, business considerations, or Facility Provider requirements.
2.5 Fee Credits and Fee Recovery
Where Fee Credits are made available, Indiconnect may deduct applicable Fees, charges, commissions, and taxes from such Fee Credits.
If Fee Credits are insufficient, exhausted, suspended, expired, withdrawn, or unavailable for any reason, Indiconnect may deduct Fees, charges, commissions, taxes, penalties, recoveries, or other amounts from settlements, reserves, balances, receivables, or any amounts otherwise payable to You.
Indiconnect reserves the right to modify, discontinue, suspend, or withdraw any Fee Credit programme at any time.
2.6 Pay-Later and Credit-Based Transactions
Where payment processing involves credit facilities, deferred payment arrangements, EMI products, BNPL products, or other lending-based payment methods provided by partner banks, NBFCs, or regulated lenders, You shall ensure that all disclosures, consents, customer authorizations, and onboarding requirements prescribed by Applicable Laws and the relevant lender are obtained.
Indiconnect acts solely as a technology facilitator and shall not be responsible for lending decisions, underwriting decisions, approvals, rejections, disbursements, repayment obligations, interest charges, fees, defaults, collections, or disputes arising from such lending arrangements.
2.7 Settlement Holds, Reserves and Risk Controls
Notwithstanding anything contained herein, Indiconnect may suspend settlements, establish reserves, withhold funds, delay settlements, impose rolling reserves, retain security amounts, or otherwise restrict access to funds where required due to:
3.1 Chargeback Notification and Merchant Response
Upon receipt of any chargeback, retrieval request, dispute, pre-arbitration request, arbitration request, fraud claim, inquiry, compliance case, network assessment, or similar claim ("Chargeback Request") from a Facility Provider, bank, payment system provider, card network, regulator, or other authorized entity, Indiconnect may notify You through the dashboard, email, API notification, or any other communication channel.
You acknowledge and agree that You shall be solely responsible for all Chargeback Requests relating to Transactions processed through the Services.
Indiconnect may immediately withhold, reserve, debit, deduct, or otherwise recover the disputed amount from settlements, reserves, balances, or any other amounts payable to You pending final resolution of the Chargeback Request.
You shall provide all documents, records, evidence, delivery confirmations, customer communications, transaction records, invoices, KYC records, or other supporting documentation requested by Indiconnect within three (3) calendar days or such shorter period as may be prescribed by the relevant Facility Provider or card payment network.
3.2 Resolution of Chargebacks
The acceptance, rejection, reversal, representment, pre-arbitration, arbitration, or final disposition of any Chargeback Request shall be determined solely in accordance with the applicable Card Payment Network Rules, Facility Provider requirements, banking partner requirements, or regulatory requirements.
Indiconnect shall not be responsible for the outcome of any Chargeback Request and shall not be liable for any decision made by any Facility Provider, issuing bank, acquiring bank, card network, regulator, or other competent authority.
3.3 Recovery of Chargeback Amounts
Notwithstanding anything contained in these Terms, Indiconnect shall be entitled, at any time and without prior notice, to recover any Chargeback Amount, dispute amount, arbitration amount, fraud-related assessment, network assessment, penalty, fee, levy, investigation cost, operational cost, or other liability arising from a Chargeback Request by:
You shall reimburse any amount specified in a debit note within seven (7) days of receipt.
3.4 Post-Termination Chargeback Reserve
Upon termination, suspension, expiry, or discontinuation of the Services, Indiconnect may retain, withhold, reserve, or defer settlement of funds for a period of up to one hundred and eighty (180) days or such longer period as may be required under Applicable Laws, Card Payment Network Rules, Facility Provider requirements, ongoing investigations, disputes, or operational requirements.
Such amounts may be utilized towards chargebacks, refunds, reversals, fraud losses, network assessments, penalties, customer claims, regulatory actions, or any other liabilities arising from Transactions processed prior to termination.
Any remaining balance after adjustment of all liabilities shall be released to You subject to applicable requirements.
3.5 Insufficient Funds
Where the amounts withheld, reserved, or available for adjustment are insufficient to satisfy any Chargeback Amount or related liability, Indiconnect may issue a debit note and You shall reimburse the shortfall within seven (7) days of receipt of such debit note.
Failure to reimburse such amount shall constitute a material breach of these Terms and shall entitle Indiconnect to pursue all available legal, contractual, and equitable remedies.
3.6 EMI, BNPL and Lending-Based Transactions
For Transactions involving EMI facilities, deferred payment arrangements, BNPL products, credit facilities, or lending products provided by partner banks, NBFCs, or regulated lenders, You shall cooperate with Indiconnect and the relevant lender in relation to loan cancellations, disputes, reversals, customer complaints, and chargeback-related matters.
Any amount required to be reversed, refunded, recovered, adjusted, or cancelled pursuant to lender instructions, regulatory requirements, customer claims, or loan cancellation requests may be recovered from settlements, reserves, or any amounts payable to You.
4.1 Refund Initiation
Subject to Applicable Laws, regulatory requirements, availability of funds, Card Payment Network Rules, and Facility Provider requirements, You may initiate refunds for Transactions through the Services.
You acknowledge and agree that the decision to issue a refund shall remain solely Your responsibility and Indiconnect shall not be responsible for determining whether a refund is due to a Customer.
4.2 Processing of Refunds
Indiconnect shall process refund instructions only upon receipt of a valid refund request initiated by You through the dashboard, API, or other approved channels.
Indiconnect shall not be responsible for delays, failures, reversals, or unsuccessful refunds resulting from incorrect instructions, insufficient balances, technical issues, banking delays, Facility Provider restrictions, payment system failures, or circumstances beyond its reasonable control.
4.3 Refund Destination
Refunds shall ordinarily be credited to the same payment instrument, account, card, UPI ID, wallet, or payment method used for the original Transaction, subject to Applicable Laws, Card Payment Network Rules, and Facility Provider requirements.
4.4 Fees and Charges
All Fees, charges, commissions, taxes, processing fees, convenience fees, platform fees, and other amounts payable to Indiconnect in respect of a Transaction shall remain payable and non- refundable notwithstanding any refund, reversal, cancellation, dispute, chargeback, or reversal of the underlying Transaction.
4.5 Auto Refunds
Where a Transaction is authorized but not captured, remains incomplete, expires, fails post- authorization, or otherwise requires reversal under Applicable Laws, regulatory requirements, Card Payment Network Rules, Facility Provider requirements, or operational processes, Indiconnect may initiate an automatic refund or reversal without prior notice.
4.6 Recovery of Refund Amounts
Indiconnect shall be entitled to recover, deduct, withhold, debit, adjust, or set-off any refund amount from settlements, reserves, balances, future receivables, or any other amounts payable to You.
Where available balances are insufficient, You shall immediately reimburse Indiconnect upon demand for any refund amount processed on Your behalf.
4.7 Refund Timelines
Refund timelines are dependent upon banks, card networks, payment system providers, UPI participants, Facility Providers, and other third parties. Indiconnect does not guarantee the time within which refunded amounts will be credited to Customers after initiation of a refund.
4.8 Fraudulent or Excessive Refund Activity
Indiconnect reserves the right to suspend, reject, delay, review, limit, or investigate refund requests where excessive refund activity, suspected fraud, operational risks, regulatory concerns, customer disputes, chargeback risks, or other suspicious circumstances are identified.
5.1. You shall not use the Services for any fraudulent, unauthorized, deceptive, illegal, suspicious, or prohibited activity and shall ensure that all Transactions initiated through the Services are genuine, lawful, and supported by valid underlying business activity.
5.2. Indiconnect reserves the right to monitor, review, investigate, suspend, reject, delay, reverse, cancel, or restrict any Transaction or activity that it reasonably believes may involve fraud, money laundering, terrorist financing, sanctions violations, identity theft, transaction laundering, unauthorized payment aggregation, cybersecurity threats, or any other unlawful or high-risk activity.
5.3. Indiconnect may, without prior notice, withhold settlements, establish reserves, impose transaction limits, request additional information or documentation, suspend access to the Services, or take any other action reasonably required to prevent or mitigate fraud, financial crime, operational risk, regulatory exposure, or reputational harm.
5.4. You shall promptly provide all information, records, documents, customer details, transaction evidence, and assistance reasonably requested by Indiconnect, Facility Providers, banks, payment system providers, regulators, governmental authorities, or law enforcement agencies in connection with any investigation, review, dispute, or suspected fraudulent activity.
5.5. Where any Transaction is determined to be fraudulent, unauthorized, unlawful, or in violation of Applicable Laws, Card Payment Network Rules, or Facility Provider requirements, Indiconnect may reverse, recover, debit, deduct, set-off, or withhold the relevant amounts from settlements, reserves, balances, future receivables, or any other amounts payable to You.
5.6. Indiconnect shall not be liable for any loss, delay, business interruption, settlement hold, account restriction, transaction rejection, or other consequence arising from actions taken in good faith for fraud prevention, risk management, regulatory compliance, or investigation purposes.
5.7. Indiconnect reserves the right to report suspicious or potentially unlawful activities to banks, payment system providers, card networks, regulators, governmental authorities, law enforcement agencies, or any other competent authority as required under Applicable Laws.
6.1 Interpretation
In the event of any inconsistency, conflict, ambiguity, or discrepancy between the General Terms of Use and these Specific Terms of Use, these Specific Terms of Use shall prevail solely to the extent of such inconsistency, conflict, ambiguity, or discrepancy. The General Terms of Use and these Specific Terms of Use shall otherwise be read together and interpreted harmoniously to give effect to the intent of the parties.
6.2 Definitions
Capitalized terms used but not defined in these Specific Terms of Use shall have the meanings assigned to them in the General Terms of Use.
6.3 Survival
Termination, suspension, expiry, discontinuation, or closure of the Services shall not affect any rights, remedies, obligations, liabilities, recoveries, settlements, reserves, chargebacks, refunds, reversals, investigations, audits, taxes, fees, penalties, indemnities, confidentiality obligations, record retention obligations, limitation of liability provisions, dispute resolution provisions, or any other provisions which by their nature are intended to survive termination.
All accrued rights, obligations, claims, liabilities, recoveries, and remedies existing as of the effective date of termination shall survive and remain enforceable notwithstanding such termination.
6.4 No Waiver of Recovery Rights
Indiconnect shall retain the right, following termination or suspension of the Services, to recover any outstanding amounts, losses, liabilities, chargebacks, refunds, penalties, fees, taxes, assessments, or other sums payable by You under the Terms.
7.1 Regulatory Compliance
You represent, warrant, and undertake that throughout the term of the Services You shall comply with all Applicable Laws, regulatory requirements, Card Payment Network Rules, Facility Provider requirements, RBI directions, Payment Aggregator Guidelines, anti-money laundering and counter-terrorist financing requirements, sanctions requirements, data protection laws, consumer protection laws, and information security requirements.
You shall ensure that Your business activities, products, services, websites, applications, customer journeys, advertisements, refund policies, cancellation policies, and operational practices remain fully compliant with Applicable Laws at all times.
You shall clearly display on Your website, application, platform, or customer interface:
7.2 Customer Grievance Redressal
You shall establish and maintain an effective customer grievance redressal mechanism and designate an officer responsible for handling customer complaints.
You shall acknowledge customer complaints promptly and endeavour to resolve customer grievances within five (5) business days or such shorter period as may be required under Applicable Laws.
You shall remain solely responsible for customer disputes, complaints, refunds, cancellations, product delivery issues, service deficiencies, and customer claims relating to Your business activities.
7.3 Data Security and Payment Instrument Data
You shall not store, retain, process, copy, capture, disclose, or otherwise handle any payment instrument data, card credentials, CVV data, PIN data, authentication credentials, full card details, sensitive authentication data, or customer payment credentials except to the extent expressly permitted under Applicable Laws and applicable Card Payment Network Rules.
You shall comply with PCI-DSS, PA-DSS (where applicable), RBI requirements, and any information security standards prescribed by Indiconnect, Facility Providers, or regulators.
7.4 Security Incidents and Breach Reporting
You shall immediately, and in any event within twenty-four (24) hours of becoming aware, notify Indiconnect of:
7.5 Compliance Verification and Audit Rights
Upon request, You shall provide evidence of compliance, audit reports, certifications, vulnerability assessment reports, penetration testing reports, PCI-DSS certifications, security assessments, or any other information reasonably requested by Indiconnect.
Indiconnect and its representatives shall have the right to conduct compliance reviews, security assessments, audits, investigations, or inspections to verify compliance with this Clause.
7.6 Information Security Measures
You shall implement and maintain appropriate technical, administrative, organizational, and physical safeguards to protect customer data, systems, networks, credentials, and transactions against unauthorized access, misuse, disclosure, alteration, destruction, cyber threats, or operational failures.
7.7 Non-Compliance
Without prejudice to any other rights available to Indiconnect, any actual, suspected, or anticipated non-compliance with this Clause may result in suspension of Services, withholding of settlements, establishment of reserves, enhanced monitoring, termination of Services, reporting to regulatory authorities, or any other action deemed necessary by Indiconnect.
These terms shall apply exclusively to Merchants engaged in gaming, fantasy sports, skill based gaming, esports, tournaments, contests, or similar activities identified by Indiconnect as Gaming Merchants.
8.1. Representations and Warranties:
You represent, warrant and undertake that:
8.2 Continuing Compliance
The representations, warranties, undertakings, and obligations contained in Clause 8.1 shall be deemed repeated and reaffirmed by You on a continuous basis throughout the term of the Services.
8.3 Compliance Certifications
You shall provide compliance certifications, declarations, licenses, registrations, legal opinions, audit reports, geo-blocking evidence, KYC compliance confirmations, or other supporting documentation as may be requested by Indiconnect from time to time.
Indiconnect may require such certifications periodically or at any time upon reasonable request.
8.4 Suspension Rights
Without prejudice to any other rights available to Indiconnect, Indiconnect may suspend settlements, establish reserves, restrict transactions, withhold funds, suspend Services, or terminate the relationship immediately upon actual or suspected non-compliance with Applicable Laws, gaming regulations, regulatory requirements, or this Clause.
8.5 Indemnity
You shall defend, indemnify, and hold harmless Indiconnect, its affiliates, directors, officers, employees, agents, Facility Providers, banking partners, and payment system providers from and against any claims, actions, proceedings, losses, liabilities, penalties, fines, regulatory actions, assessments, costs, damages, expenses, and legal fees arising out of or relating to:
8.6 Regulatory Changes
Indiconnect reserves the right to impose additional restrictions, compliance requirements, onboarding conditions, transaction limits, reserve requirements, reporting obligations, or operational controls in response to changes in Applicable Laws, regulatory directions, judicial decisions, Card Payment Network Rules, Facility Provider requirements, or risk assessments relating to gaming activities.
1.1. Indiconnect has implemented reasonable security practices and procedures that are appropriate for safeguarding the information assets it handles. This includes technical, operational, managerial, and physical security controls to protect against loss, misuse, unauthorized access, disclosure, alteration, and destruction of information.
1.2. In the course of providing Magic Checkout Services, you acknowledge and agree that Indiconnect may collect, store, and use certain personally identifiable information (PII) from your customers. Indiconnect is committed to protecting this information and taking reasonable precautions to maintain its confidentiality. Furthermore, for the purpose of providing Magic Checkout Services, you understand and agree that Indiconnect has the right to collect, store, and use customers' PII provided by you, which may include but is not limited to names, email addresses, phone numbers, and addresses, as provided by customers directly or indirectly to Indiconnect from time to time (or provided in the past).
1.3. The information referred to above may be used by Indiconnect for the following purposes: (i) providing Magic Checkout Services (including verification of identity, payment processing, communication about purchases, and monitoring of past behaviour to identify fraudulent transactions); (ii) administrative, operational, fraud prevention, security, customer support, service improvement, analytics, regulatory compliance, risk management, and other lawful purposes in accordance with Applicable Laws and Indiconnect's Privacy Policy.
1.4. You represent and warrant to Indiconnect that:
1.5. Your use/access of the Magic Checkout Services constitutes your acceptance of the Terms and the Privacy Policy. You acknowledge and confirm that you will obtain valid consent under applicable laws to share your customers' PII with Indiconnect. If you withdraw your consent/acceptance to these Terms (including withdrawing consent for the use of PII by Indiconnect and/or defaulting on your representations and warranties), Indiconnect may, at its sole discretion, discontinue your access, in whole or in part, to the Services (including but not limited to discontinuing access to Magic Checkout Services), associated features, and/or present and future benefits. You shall promptly notify Indiconnect of any customer request relating to withdrawal of consent, correction, deletion, restriction, or exercise of any privacy or data protection rights under Applicable Laws. You shall indemnify and hold Indiconnect, its directors, officers, employees, and affiliates harmless at all times from any and all claims, liabilities, losses, damages, and similar expenses incurred by Indiconnect as a result of any breach of these Terms, including your obligations herein.
2.1. If you have opted for RTO Protection as a service from Indiconnect and paid a fee, you can
claim reimbursement for return shipping fees incurred by you for orders that have been
returned to you, subject to the following conditions:
2.2. You acknowledge that Indiconnect will only reimburse you under RTO Protection upon submission of valid return shipping invoices/documents as verified by Indiconnect.
2.3. You are required to raise an invoice at the end of every month to claim reimbursements under RTO Protection, which will be processed by Indiconnect within 30 days from the date of the invoice, provided that all the conditions specified in Clauses 2.1 and 2.2 above are fulfilled to the satisfaction of Indiconnect.
2.4. RTO Protection is a value-added service and does not constitute an insurance product, guarantee, warranty, indemnity, or assurance against return-to-origin losses. Indiconnect makes no representation or warranty regarding the accuracy, effectiveness, or performance of any predictive, analytical, risk assessment, or intelligence tools used in connection with the service.
2.5. Indiconnect reserves the right to modify, suspend, withdraw, discontinue, limit, or terminate the Magic Checkout Services, Magic Intelligence features, RTO Protection programme, reimbursement criteria, eligibility conditions, coverage limits, or associated benefits at any time without liability.
In case of any conflict between the General Terms of Use and Specific Terms of Use, the Specific Terms of Use shall take precedence over the General Terms of Use. To the extent possible, they shall be interpreted in a harmonious manner.
Capitalized terms used in this document but not defined herein shall have the meanings ascribed to them in the General Terms of Use.
By accessing, browsing, registering for, integrating with, or using the Website, Services, APIs, products, platforms, applications, or any functionality provided by Indiconnect, You acknowledge that You have read, understood, and agreed to be bound by these Terms, the Privacy Policy, and all other policies, guidelines, and documents incorporated herein by reference.
If You do not agree to these Terms or any part thereof, You must immediately discontinue access to and use of the Services.
Your continued access to or use of the Services shall constitute Your ongoing acceptance of these Terms, as amended from time to time.
412, 4th Floor, Tower 2, World Trade Center (WTC), Kharadi, Pune - 411014, India
Fl No.2, Pl No. 61, Mangal Murti Apartment, Bassaye Nagar, SambhajiNagar (Aurangabad), Maharashtra - 431001
CIN: U62099MH2023PTC399289
An indifly ventures group of companies
