Wallet Terms and Conditions

The following terms and conditions (“ T&C’s ”) are a binding agreement between you and FINO PayTech Ltd. (“FINO PayTech”). By using ‘FINO Money’ you agree to be bound by the below T&C.

1. FINO Money provides the customer a convenient mode of money transfer to the beneficiary. FINO PayTech Limited is a licensed semi-closed prepaid payment instrument (SCPPI) provider. The SCPPI license is issued by the Reserve Bank of India (RBI) in accordance with the Issuance and Operation of Prepaid Payment Instruments in India (Reserve Bank) Directions, 2009 and the Master Circular – Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India issued by the Reserve Bank of India dated 1 July 2015, as amended from time to time.

FINO Money represents the SCPPI for providing money transfer service only and does not represent sale, resale or license of any other product or service offered by FINO PayTech Limited or its group company and FINO will not be liable to any claims related to any product or service offered outside the scope of FINO Money.

General Terms and Conditions of FINO Money

a. Only resident Indian citizens above the age of 18 years are eligible to avail the services of FINO Money and enter into a contract with FINO.

b. Under the applicable law of the land the person availing the service must not be barred from availing or receiving the service

c. The balance and reload limits for the customer availing FINO Money service are as given below:-

· For the wallet opened with minimum details of the customer, generally name, mobile number and DOB (Date of Birth), the maximum balance at any point of time cannot exceed Rs. 10,000 and the total value of reloads per month cannot exceed Rs. 10,000. (In cases of cancelled/returned/failed/rejected transactions, the amount will be applied to the respective SCPPI accounts even if the remaining wallet balance may exceed the limits prescribed above)

· For a full KYC wallet, i.e. FINO Money wallet opened after full KYC process, the balance limit will be 1,00,000 per month and reloadable in nature.

d. The limits and conditions for money transfer from FINO Money are as below:-

e. FINO Money is a product created by FINO and subject to the copyright, trade secret and other intellectual property rights (IPR) of FINO. Any material violation of the IPR and copyright laws by copying or reproduction or reuse of methodologies, techniques, algorithms, designs, know-how etc. of the product will be subject to necessary legal action by FINO. Any duplication/cloning of FINO Money will be subject to cancellation and necessary legal action, if required, by FINO PayTech

f. FINO Money, being a semi-closed wallet, does not allow the facility for cash out of the money loaded in the wallet to any customer under any circumstances.

g. FINO Money will not be responsible for any un-authorized usage or misuse of the wallet under any circumstances by any person/entity other than the customer entering into contract with FINO. All associated risk under this circumstance lie with the customer only.

h. FINO Paytech may amend FINO Money without any prior intimation to customers to ensure compliance with all the relevant laws, authorities, courts, regulatory guidelines etc. as and when required

i. Any change pertaining to FINO Money will be made public as per the regulatory guidelines. It will be the responsibility user to keep himself/ herself updated and to check them periodically for any new changes or modifications. The continued usage of FINO Money will be interpreted as acceptance and agreement to the changes and modifications so made.

j. You are permitted to maintain and operate only one FINO Money wallet at a time. Any suspected non-conformity with this requirement shall be just cause for the suspension/ discontinuation of any/all Wallets associated with you by FINO PayTech.

k. Fino Money is available for use in India only and cannot be used for cross-border transactions.

l. FINO Money Wallet is non-transferable.

m. In the event of any dispute, Fino Paytech records shall be binding as the conclusive evidence of the transactions carried out through use of Fino Money Wallet.

n. Fino Paytech shall send all customer communications by SMS and/or email and the SMS shall be deemed to have been received by you after they have been submitted for delivery to the mobile phone operator.

o. You agree to receive all commercial message including transactional messages from Fino Paytech.

p. Any amount transferred erroneously using Fino money will not be refunded under any circumstances

2. Blocking/Termination of Services

FINO Money can suspend, cancel or terminate Fino Money services including transactions at any time at its discretion, for any cause, including, but not limited, to the following:-

a. For any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of the terms and conditions mentioned in these T&C’s;

b. For any suspected discrepancy in the particular(s) or documentation provided by you;

c. To combat potential fraud, sabotage, willful destruction, threat to national security or for any other force majeure reasons etc;

d. If the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons.

e. If the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;

f. If FINO Money believes, in its reasonable opinion, that cessation/ suspension is necessary.

3. Enrollment

To be able to use the FINO Money, the user should should first provide the requisite details and register for the wallet. By registering for the wallet, it is also accepted that you will provide accurate and current information and will immediately update FINO Paytech as and when the information changes. If the information provided during registration is found to be in accurate or outdated. Fino Paytech reserves the right to terminate, suspend either temporarily or permanently your association with FINO Money and its services.

Fino PayTech will not take any responsibility for any transaction from your wallet whether authorized by you or not, under any circumstances.

It is your duty to inform Fino immediately of any unauthorized use of your wallet or if you believe the security has been compromised.

. 4. Wallet Charges, Expiry & Forfeiture

a. FINO Money may at its sole discretion, change, amend, increase, or reduce the service charges without prior intimation to you. The service charges will be communicated to the merchant by Fino PayTech and it is the customer’s responsibility to get themselves updated with the service charges.

b. Fino PayTech reserves the right to levy charges/ charge commission upon any amounts loaded upon your FINO Money wallet or any amounts spent/utilized by you using FINO Money wallet.

c. Fino PayTech reserves the right to set off any balance in your Wallet in order to recover funds for transactions processed as per your request.

d. Fino Money Wallet shall have a minimum validity of six (6) months from the date of activation.

e. You shall be intimated through SMS or any other means in accordance with the regulatory guidelines prevailing at the time of registration or activation with regards to wallet expiry.

f. Any value in your Fino Money Wallet must be utilized within 6 months from the date of your last transaction or within 6 months from the date of activation, whichever is later.

g. Any value in your Fino Money Wallet which is not utilized in the aforesaid manner may stand forfeited at the discretion of Fino PayTech. Fino PayTech reserves the right to forfeit the amount post adherence to the following communication process in accordance with the stipulate guidelines

h. Communication will be sent to the user via SMS on the registered mobile number 30 days prior to wallet expiry. Messages will be sent at an interval of 7 days (Interval can be changed on the sole discretion of Fino).

i. On completion of 30 days since the first reminder the amount in the wallet will be considered forfeited and after board approval will be appropriated by Fino PayTech.

5. Grievance Redressal

The customer can log the complaints through the following co-ordinates:-

Call: 8080668800

e-mail:- care@finopaytech.com

Escalation and resolution time information is provided on the website.

6. Intellectual Property Rights

FINO Money is a product created by FINO and subject to the copyright, trade secret and other intellectual property rights (IPR) of FINO. Any material violation of the IPR and copyright laws by copying or reproduction or reuse of methodologies, techniques, algorithms, designs, know-how etc. of the product will be subject to necessary legal action by FINO. Any duplication/cloning of FINO Money will be subject to cancellation and necessary legal action, if required, by FINO PayTech

7. Indemnification

The Customer shall be liable to FINO Money for losses, expenses or damages and agree to indemnify, defend and hold harmless FINO Money and /or the Agent harmless from any and all claims, losses, damages, liabilities, costs and expenses, including and without limitation legal fees and expenses arising out of or related to its use or misuse of FINO Money services, violation of these terms and conditions or any breach of any representations, warranties and covenants made by the Customer.

The Customer shall indemnify FINO Money against any fraud or any loss or damage suffered by FINO Money due to the failure on the part of the Customer to communicate correct permanent or communication address and/or failure on the part of the Customer to communicate any change/alteration in the said permanent or communication address.

8. Privacy and confidentitallity

Fino Paytech reserves the right to collect information generally referred to as traffic data (IP addresses, domain servers, type of device being used for access, and such information based on your interaction with FINO Paytech web based services and etc..) and information collected through ‘cookies’. Fino will also collect information the customer provides voluntarily for using it’s services, promotions, coupons surveys and any such initiative of Fino Paytech.

Fino PayTech reserves the right to use and store the information collected about the customer and transactions for providing the full range of features of the service requested by the customer, to enhance Fino PayTech’s own internal process and services provided to you, to communicate Fino PayTech’s product or service offerings and notifications, Analytical and security purposes and regulatory or legal compliance.

Fino PayTech reserves the right to disclose information to a third party for legal reasons or in compliance with regulatory guidelines. It may also disclose to any third party for purposes of carrying out the requested service for the customer. Aggregate data may be shared with third parties under specific circumstances like contractual obligations.

The above policy can be changed without prior intimation to the customer. Links to any third party sites will come under the purview of the privacy policy of the owner of that particular site. By using FINO’s website, mobile application, services, promotions, coupons, surveys and etc. you are providing your consent to agree to the above mentioned conditions.

9. Miscellaneous Provisions:

Limitation Of Liability:

FINO Money will not be liable under any circumstances to the other Party for any incidental, indirect, special or consequential damages of any kind, including infringement by third parties, third party claims, loss of profits, loss of use of equipment or services or data, cost of substitution goods or damages to business or reputation arising from the performance or non performance of any aspect of this Agreement, whether in contract or tort or otherwise.

Force Majeure: FINO Money shall inform the customer of the existence of a Force Majeure Event and shall consult together to find a mutually acceptable solution. “Force Majeure Event” means any event due to any cause beyond the reasonable control of FINO Money, including, without limitation, unavailability of any communication system, breach or virus in the processes or payment mechanism, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorized access to computer data and storage device, computer crashes, breach of security and encryption, etc. FINO Money shall not be liable for any failure to perform any of its obligations under these terms or the specific terms and conditions if the performance is prevented, hindered or delayed by a Force Majeure Event and in such case its obligations shall be suspended for so long as the Force Majeure

Governing Law and Jurisdiction: The laws of India shall govern these terms. In case of any dispute arising out of or in connection with FINO Money wallet the Customer shall approach the grievance redresses forum in accordance with the grievance redress policy as laid out on the website. The Customer hereby agrees that any legal action or proceedings arising out of these Terms and Conditions shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. FINO Money may, however, in its absolute discretion, commence any legal action or proceedings arising out of the terms in any other court, tribunal or other appropriate forum, and the user hereby consents to that jurisdiction. Any provision of these terms, which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction

Entire Agreement : These terms and conditions and the associated clauses which are incorporated into these terms and conditions by virtue of association set forth the entire understanding and agreement between the customer and FINO Money with respect to the subject matter hereof.

FINO Money disclaims without limitation, any warranty of any kind with respect to the FINO Money services, non-infringement, merchantability, or fitness of wallet for a particular purpose. FINO Money does not warrant the uninterrupted service to customer. FINO Money shall not be responsible for any interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of payment transactions or any other service.

10. Additional Terms and Conditions:

The customer understands that FINO Paytech Limited is in the process of transferring its existing business to a Payments Bank entity called FINO Payments Bank Limited (FPBL, which is part of same group) by way of any legally permissible mode of transfer, which may involve an amalgamation, de-merger, business transfer agreement / arrangement or any other mode that FINO Paytech may decide and the customer hereby expressly and irrevocably agrees to and consents to FINO Paytech to transfer or migrate, his or her “FINO Money Wallet or Account” to FPBL(w.e.f 1-Aug-2016). No other specific consent or permission shall be required to be procured by FINO Paytech from the customer at later point of time as a result of (the happening of) the above and any such further permission / approval, if any, is hereby expressly waived by the customer.