Value Added Services Terms
Last updated: August 10, 2016 | Ver. 1.2
By using ePaisa, Inc. (“ePaisa,” “we,” “our,” or “us”) value added services (“VAS Services”), you agree to be bound by the General Terms of Service (“General Terms”), these additional terms and conditions (“VAS Terms”) and all other terms, policies and guidelines applicable to the Services (as defined in the General Terms) used. If you are using the VAS Services on behalf of a business, that business accepts these terms. VAS Services may only be used for business purposes in India and all its states / jurisdictions. Defined terms will have the same meaning as those found in the General Terms, unless otherwise re-defined herein.
Value Added Services
- 1. Our Role
ePaisa is a facilitator that allows you to provide Recharge services, Utility Bill payment facilities, Money Transfer facility, Bus ticketing & Gift cards to your customers domestically. We may remove or add those billers that we accept at any time without prior notice.
In order to serve in this role, we must enter into agreements with service providers. The Networks require that any person that signs up for a ePaisa Account to use Value Added Services (a “Seller”) and providers more than Network specified, enter into an agreement directly with ePaisa. By accepting or otherwise agreeing to these VAS Terms, you agree to the terms and conditions of the applicable “Commercial Entity Agreement” effective as of the date you process such specified amounts. If you fail to agree to any “Commercial Entity Agreement”, we may suspend or terminate your ePaisa Account.
- 2. Commissions
We will share or update your commission receivables through email or through any other medium of communication on a regular basis, which will be credited to your ePaisa account on a successful execution of the Recharge transactions or Money Transfer transaction or Bus Ticketing or Gift Voucher transaction. We reserve the right to change your commission receivable for all the services upon Seven (7) days’ advance notice. You must agree to the change in commission receivable to continue to use the Value Added Services.
- 3. Our Fees
You agree to pay the applicable fees listed on our Fee Schedule (“Fees”) for use of the Value Added Services. All Fees are charged at the time we process a transaction and are deducted first from the transferred or collected funds and thereafter from the Balance (as defined in Section 15) in your ePaisa Account. Subject to the General Terms and these VAS Terms, we reserve the right to change our Fees upon Seven (7) days’ advance notice. You must agree to the change in Fees to continue to use the Value Added Services. All Balances and all Fees, charges, and payments collected or paid through the Value Added Services are denominated in INR (Indian Rupees).
- 4. Processing Errors
We will attempt to fix processing errors we discover. If the error resulted in your receipt of fewer funds than you were entitled, we will credit your ePaisa Account for the difference subject to the approvals from ePaisa management team. If the error results in your receipt of more funds than you were entitled, ePaisa will debit the extra funds from your ePaisa Account or your linked bank account. We will only correct transactions that you process incorrectly if you notify us of such an error. Your failure to notify us of a processing error within seven (7) days of when it first appears on your electronic transaction history will be deemed a waiver of any right to amounts owed to you.
Value Added Services Account Setup
- 5. ePaisa Account Registration for Value Added Services
You must open a ePaisa Account to access any Proceeds. You confirm that you are either a legal resident of the India, an India citizen, or a business entity authorized to conduct business by the Indian state(s) in which you operate and that you are an authorized signatory for the business you represent. You must use your or your business’ true and accurate name when opening a ePaisa Account. This name will appear on the credit or debit card statements of your customers for all payments you accept using the VAS Services.
- 6. Underwriting and Identity Verification & KYC
- 7. Requests for Additional Information and Inspection
ePaisa may request additional information from you at any time. For example, ePaisa may ask you to present invoices from your suppliers, a government issued identification such as a passport or driver’s license, a business license, or other information. ePaisa may also ask for permission to inspect your business location. If you refuse any of these requests, your ePaisa Account may be suspended or terminated.
Use of Your ePaisa Account for VAS Services
- 8. Right of Setoff
To the extent permitted by applicable law, you grant us a security interest in, as well as a right of setoff against, and assign, convey, deliver, pledge and transfer to us, as security for repayment of any obligations due under these VAS Terms, all of your right, title, and interest in and to all of your accounts with us. You authorize us, without prior notice to you and irrespective of (i) whether we have made demand under these VAS Terms or any other related agreements; and (ii) whether the obligation is contingent, matured or un-matured, to the extent permitted by law, to collect, charge, and/or setoff all sums owing on the indebtedness against any and all such accounts and other obligations, and our option, to administratively freeze or direct any third party bank holding the account to freeze all such accounts to allow us to protect our security interest, collection, charge and setoff rights as provided for in this section.
- 9. Credit Schedule
ePaisa will automatically initiate a Proceeds to your ePaisa Account for Value Added Services commission receivables on the immediate basis, based on the commission receivable list shared with you on the regular basis.
- 10. Availability of Proceeds
We may defer payout or restrict access to your Proceeds if we need to conduct an investigation or resolve any pending dispute related to your use of the Services. We also may defer payout or restrict access to your Proceeds as necessary to comply with applicable law or court order, or if requested by any governmental entity.
- 11. ePaisa Account History
When a Value Added Service is used through your ePaisa Account, we will update your ePaisa Account activity on the website and provide you a transaction confirmation. The confirmation will serve as your receipt. Summaries of your ePaisa Account activity, including monthly statements, are available on our website for up to one year of account activity. Except as required by law, you are solely responsible for (a) compiling and retaining permanent records of all transactions and other data associated with your ePaisa Account and your use of the VAS Services, and (b) reconciling all transactional information that is associated with your ePaisa Account. If you believe that there is an error or unauthorized transaction activity is associated with your ePaisa Account, you must contact us immediately.
- 12. ePaisa Account Balances
While you have funds in your ePaisa Account (your “Balance”), your Balance will be co-mingled and held with other participants’ funds in one or more pooled accounts at one or more banks by us on your behalf and for the benefit of you and others holding balances (each a “Pooled Account”). We have sole discretion over the establishment and maintenance of any pooled account. We will not voluntarily make funds available to our creditors in the event of bankruptcy or for any other purpose. You will not receive interest or any other earnings on any funds that we handle for you. As consideration for using the Value Added Services, you irrevocably assign to us all rights and legal interests to any interest and/or other earnings that may accrue or are attributable to our holding of your Balance in a Pooled Account or Reserve.
- 13. Our Set-off Rights
To the extent permitted by law, we may set off against the Balances for any obligation you owe us under any agreement with ePaisa (e.g., Chargebacks or refunds). If you owe us an amount that exceeds your Balance, we may charge or debit a payment instrument registered in your ePaisa Account or any connected ePaisa Account (as well as set off against any Balance in any connected ePaisa Account). Your failure to fully pay amounts that you owe us on demand will be a breach of these terms. You are liable for any of our costs associated with collection in addition to any amounts owed, including attorneys’ fees and expenses, collection agency fees, and any applicable interest.
- 14. Dormant ePaisa Accounts
If you do not process payments through your ePaisa Account for an extended period of time or have not linked a valid bank account, you may have a Balance that is deemed “unclaimed” or “abandoned” under your state’s or Indian law. If this occurs, ePaisa will provide you with notice as required by applicable law and instructions for how to deposit your Balance. If funds still remain in your ePaisa Account, ePaisa will escheat such funds as required by applicable law or, as permitted, to ePaisa.
Termination of VAS Services
- 15. Termination of Value Added Services
ePaisa may Terminate your use of the Value Added Services at any time for any reason. Any termination of these terms does not relieve you of obligations to pay Fees or costs accrued prior to the termination and any other amounts owed to us as provided in these VAS Terms or the Terms of Service. If your access to Value Added Services has been terminated, you may still be permitted to use ePaisa’s other products, subject to our discretion.
- 16. Value Added Services Upon Closure of Your ePaisa Account
Closure of your ePaisa Account will cancel any pending transactions. Any funds that we are holding in custody for you at the time of closure, less any applicable Fees, will be paid out according to your payout schedule, subject to the other conditions in these VAS Terms. If an investigation is pending at the time you close your ePaisa Account, we may hold your funds as described herein. If you are later determined to be entitled to some or all of the funds, we will release those funds to you.