Terms & Conditions of Service
Last Updated: [15th July 2026]
This Is The Official Website Of Terrafin Solutions Private limited (“Terrafin”),
1507, 19th Main, 11th Cross Rd, 1st Sector, HSR Layout, Bengaluru, Karnataka 560102.
This Website https://Cheq.money/ that Terrafin May Specify From Time To Time, (“Website”) Is Owned And Operated By Terrafin. The Access To And Use Of This Website Is Subject To The Following Terms And Conditions Of Use (“Terms”). Please Read The Terms Very Carefully As They Shall Apply To All Users Of This Website. A User May Opt For Services Through This Website Only If He Accepts And Abides By All Of The Terms. Terrafin May Periodically Change These Terms Without Notice.
User Terms
This document is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediary Guidelines) Rules, 2011 or any other applicable laws which requires the publishing of the rules and regulations governing the use and access of https://Cheq.money/ and the Cheq or Ace services (as defined below) or any other portal as may be launched by Terrafin Solutions Private Limited.
Introduction
1.1. The terms and conditions mentioned in the User Terms (as defined below) constitute a contract between the User (as defined below) and Terrafin Solutions Private Limited, a company incorporated under the laws of India and having its registered office at 1507, 19th Main, 11th Cross Rd, 1st Sector, HSR Layout, Bengaluru, Karnataka 560102 (“Cheq or Ace”) with respect to access to and use of the Services (as defined below) offered by Cheq or Ace, superseding any prior written or oral contracts in relation to the same subject matter herein.
1.2. Cheq or Ace is a payment solution which facilitates payments and acts as such by creating, hosting, maintaining, and providing Services to you via the internet. Cheq or Ace provides its Services to Users through the Cheq or Ace App (“App”), which acts as a container for various payment instruments including but not limited to Wallet, Debit/Credit card, Unified Payment Interface (“BHIM UPI”) and External Wallets (hereinafter collectively referred to as “Services”).
1.3. Cheq-Transcorp PPI wallet is issued to all users who complete their full KYC. The terms and conditions of the PPI wallet specifically are listed below.
1.3.1. Hindi
1.3.2. English
1.4. These terms and conditions under this agreement (“User Terms”) apply on your usage of our Services.
1.5. The term “User” shall mean any individual or entity as approved by Cheq or Ace.
1.6. The term “You / Your” refers to the User of the Services.
1.7. By availing the Services, (i) you confirm that you are eligible under applicable law to contract with Cheq or Ace, (ii) you agree to be bound by the terms and conditions of these User Terms, including all rules, guidelines policies, terms and conditions applicable to the Services, as may be modified by Cheq or Ace from time to time, and (iii) you consent to receive communications, notices and information from us through post or any other physical medium or electronically (whether through SMS, emails, phone calls and automated phone calls). Electronic communications shall be deemed to have been received by you when we send the electronic communication to the email address / mobile number / details provided by you or any other third party during the sign-up process as per our records, or when we post the electronic communication on the App.
1.8. If at any time you do not agree with these User Terms, you shall immediately cease your use of the Services. Cheq or Ace reserves the right to amend, add or remove portions of these User Terms, from time to time, without notice to you by posting revised User Terms on the App. It is hereby clarified that you shall be responsible for reviewing these User Terms periodically and keeping yourself updated with any changes. Once posted, those changes are effective immediately, unless stated otherwise. Continued access or use of the Services constitutes your acceptance of the changes and the amended User Terms. However, if you do not agree with the changes, please do not use the Services or submit information to us.
User Eligibility
2.1. The access to the Services is only available to persons who are competent to enter into legally binding contracts as per Indian Contract Act, 1872. If you access the Services, you, as a User, represent to Cheq or Ace that you are at least 18 years of age and competent to enter into legally binding contracts under Indian Contract Act, 1872.
2.2. You also represent that you are an Indian National having a tax residency in India to use the eligible product for Indian nationals with Aadhaar and PAN based KYC. If you are a foreign national you are eligible for the UPI one world program.
2.3. It is hereby clarified that Cheq or Ace reserves the right to provide the Services to only those Users who are both competent to enter into legally binding contracts, have made the representations as provided above and also qualify under the internal policy for the same, determined solely by Cheq or Ace from time to time. Cheq or Ace shall have the sole right to change, modify, add or remove in whole or in part, the internal policy in relation to the provision of the Services at any time without any prior written notice of intimation to the Users and Cheq or Ace shall have the right to not entertain any request in relation to the same from the Users towards such Services without assigning any reason.
The Service
3.1. By using the Services you hereby acknowledge that Cheq or Ace is not a Merchant. Cheq or Ace only facilitates the payment and provides a hassle-free buying experience to the User on third party merchant shops, websites and applications (“Merchant”).
3.2. For the avoidance of any doubt, Cheq or Ace itself does not provide the goods and services offered by Merchants (“Products”). It is up to the Merchant to offer the Products, which may be requested through the Merchant’s shop, website or mobile application. The provision of the Products provided by the Merchant to you and any liability therefrom is therefore subject to the agreement (to be) entered into between you and the Merchant. Cheq or Ace is not privy to such agreement.
3.3. Cheq or Ace does not at any point of time during any transaction between User and Merchant, take the ownership of any of the Products provided by the Merchant nor does it at any point assert any rights or claims over the Products offered by Merchant to User.
3.4. For enabling the Services, Cheq or Ace may partner with one or more banks, financial institutions or other entities (“Financial Partner”). A part or whole of the Service may be provided by or delegated to, the Financial Partners. Further, the Service may also be linked, transferred or assigned to products provided by our Financial Partners and may reflect on your account or profile with our Financial Partners. Any linking or transfer to Financial Partners shall be made with your consent. Further, in case of bankruptcy or our failure to pay our creditors, our creditors shall have the rights to claim any dues owned by you in accordance with applicable law.
3.5. The User availing the Service shall be entitled to make the payment of the purchase price of the Products subject to monetary limit specified by Cheq or Ace or the amount approved or transferred into the User’s account, as the case may be (“Transaction Amount”). Cheq or Ace reserves the right to amend such monetary limit/ approve or reject funds in case of option as applicable to each User, at its sole discretion, for any reason whatsoever.
3.6. You hereby understand that when you apply for a monetary limit, Cheq or Ace, on behalf of one or more lending partners, may check your records from time to time, amongst other things, with its own records, and any information as available to Cheq or Ace through any of its sources, including those at credit information companies (CICs); those at fraud prevention agencies (FPAs for assessing your credit worthiness, verifying identity to prevent and detect crime and money laundering, including information available with Experian Credit Information Company of India Private Limited and its affiliates in India. Refer Policy.
3.7. The User agrees and acknowledges that the payment of the Transaction Amount shall be made by the User to Cheq or Ace who is authorized by the Merchant and/ or Financial Partner to collect the Transaction Amount on behalf of the Merchant and/ or Financial Partner, as the case may be, in the manner specified by Cheq or Ace. By availing the Services you authorize Cheq or Ace or its authorized representatives to collect the Transaction Amount from you on behalf of the Merchant and process, facilitate and remit the payments to the Merchants selling the Products.
3.8. Upon selection of the Service option at the Merchant’s platform by the User, the User will be required to complete the transaction through one of the methods of authorization prescribed by Cheq or Ace from time to time, including but not limited to, entering the one-time password issued by Cheq or Ace to such User to complete the transaction (“Authentication Process”). Completion of the Authentication Process shall effectuate the transaction vis-à-vis the Merchant or the Merchant and the Financial Partners as the case may be and the transaction shall be deemed completed and the User hereby authorizes Cheq or Ace to deduct such Transaction Amount from the Cheq or Ace account upon completion of the Authentication Process.
3.9. For provision of the option of transfer of funds into the User’s bank account, User KYC will be collected and/ or validated. Bank account for credit of Cheq or Ace approved amount and repayment thereof, will be linked once the User accepts the credit agreement between the User, the Financial Partner and Cheq or Ace and allied terms and conditions governing such credit. Upon completion, the funds will be transferred into the User’s / Merchant’s bank account. The User hereby authorizes Cheq or Ace to deduct such Transaction Amount from the User’s Cheq or Ace account or the User’s bank account in which the Transaction Amount was collected. The User shall ensure that true and correct details are furnished to Cheq or Ace including all information required for the account opening process and the KYC process and such other information details and clarifications that Cheq or Ace may require from time to time.
3.10. Cheq or Ace shall maintain necessary records in respect of the transactions entered into by the User with the Merchants and amounts due in respect of Products and the User agrees to sharing of such records by Cheq or Ace with the Financial Partner or the Merchant in order to facilitate the Service. The User agrees that such records as maintained by Cheq or Ace shall be sufficient proof of the transactions entered into between the User and Merchants and the amounts due thereto, which the User shall not dispute.
3.11. Cheq or Ace reserves the right to change the nature of Services from time to time without any prior notice.
3.12. The User acknowledges and agrees that Cheq or Ace may stop (permanently or temporarily) providing the Services (or any features within the Services) to you or to Users generally at Cheq or Ace’s sole discretion, without prior notice to you. You may stop using the Services at any time, provided that amounts that are due from you to Cheq or Ace under these User terms shall be discharged by you. You do not need to specifically inform Cheq or Ace when you stop using the Services.
3.13. The User acknowledges that each transaction shall be assessed by Cheq or Ace in accordance with its own internal standards for processing of such transactions and Cheq or Ace shall have the right to deny the processing of any transaction at its sole discretion.
3.14. The User acknowledges and agrees that you shall be solely responsible for immediately notifying Cheq or Ace of any change in the email address and/ or mobile number registered with Cheq or Ace. You further acknowledge and agree that you shall be solely liable for any losses, dispute and/ or fraudulent transactions undertaken on a Merchant platform due to your failure in complying with this clause or any other reason and Cheq or Ace shall have no liability in this regard.
3.15. You hereby agree and acknowledge that Cheq or Ace has been authorized by the Merchant and/ or Financial Partners, as the case may be, to collect the Transaction Amount on behalf of the Merchant and/ or Financial Partner, and you shall be liable to pay to Cheq or Ace the Transaction Amount in this regard. You hereby agree and acknowledge that upon authentication and completion of transactions, Cheq or Ace shall raise a statement on the User pertaining to the transactions undertaken by the User through Cheq or Ace (“Statement Amount”) specifying details pertaining to the timeline and manner in which the Statement Amount is required to be repaid by the User to Cheq or Ace, by email / SMS / any other medium as identified by Cheq or Ace, from time to time. You hereby agree, acknowledge and confirm that Cheq or Ace shall not be liable under any circumstances whatsoever in relation to non-delivery and/ or delay in receipt of the statement whether by email / SMS / any other medium as may be identified by Cheq or Ace, due to default/ non-delivery at the end of the third party telecom service providers.
3.16. It is hereby clarified that all Products made available to the Users through the Merchant are provided on an ‘as is’ and ‘as available’ basis without any representations and warranties, express or implied by Cheq or Ace. Cheq or Ace does not make any representations pertaining to the information, content, Products included or delivery of the Products made available to a User through the Merchant and only acts as an intermediary between the Merchant and the User. You hereby agree, acknowledge and confirm that Cheq or Ace is not responsible in any way for the Products purchased by you from the Merchant and it is explicitly agreed by you that Cheq or Ace will not in any way, under any circumstances whatsoever, be responsible or liable for the Product purchased by you from the Merchant and are/or in relation to any issue and/ or dispute thereof. You hereby further agree, acknowledge and confirm that under the aforesaid circumstances your only recourse will be against the Merchant and/ or the Financial Partner, and Cheq or Ace will not be made a party to any such issue and/ or dispute between yourself and the Merchant and/ or the Financial Partner, as the case may be.
3.17. You hereby acknowledge and agree that Cheq or Ace shall not be liable for failure of any transaction undertaken on the Merchant platform for any reason whatsoever including but not limited to non-performance or omission or commission on the part of the Merchant, deficiency of service and/ or products delivered, or technical errors on the Merchant platform. You further acknowledge that Cheq or Ace shall not be responsible in any manner whatsoever for any loss incurred by you for a failed / incomplete transaction undertaken by you using our Services.
Payment
4.1. The User shall make payments for the purchases made via the Service in the following manner:
4.1.1. For purchases made between the 1st and 15th of a month, the payment will be made by the 20th of that month or any later date as maybe be intimated by Cheq or Ace.
4.1.2. For purchases made between the 16th and 30th of a month, the payment will be made by the 5th of the following month or any later date as maybe be intimated by Cheq or Ace.
4.2. The User shall have the option to pay the Statement Amount through the payment methods specified by Cheq or Ace. You hereby further agree to not use any payment method other than the payment methods prescribed and permitted by Cheq or Ace for the purpose of paying the Statement Amount and/ or any other amount due and outstanding to Cheq or Ace.
4.3. The User hereby agrees and acknowledges that the due date specified in the Statement for payment of the Statement Amount is the date by which the Statement Amount should be credited to Cheq or Ace’s account. You hereby agree and acknowledge that you shall be solely liable for any delay caused in payment of the Statement Amount due to the time taken for settlement and clearing of the Statement Amount from the account of the User to the Cheq or Ace’s account.
4.4 Cheq or Ace shall issue reminders to the User post issuance of the Statement in relation to the Statement Amount due and payable by such User. In the event the User fails to make the payment within the timeline specified in the Statement, the User shall be issued a written reminder within 3 days of the due date. In the event you fail to make the payment within the period specified in such written reminder, Cheq or Ace shall send you a final intimation in writing informing you regarding the amounts so due by you and the steps Cheq or Ace shall take to realise the same from you on behalf of the Merchant.
4.5. In this regard you hereby agree and acknowledge that in the event the Statement Amount is not credited to Cheq or Ace’s account by the payment date specified in the Statement, Cheq or Ace shall have the right to impose a fine of INR 10 per day of delay per billing cycle of the User. You hereby undertake that you will not raise any objections against any imposition of fine. Cheq or Ace may, at its sole discretion waive such fine imposed on the User. You hereby consent and agree that Cheq or Ace, acting on behalf of the Merchant and/ or Financial Partners shall realise or set-off the Statement Amount from you by any one of the following methods:
4.5.1. Setting off the amounts due against any amounts lying in your account; and/ or
4.5.2. By charging / debiting any other payment instrument like a designated credit card or a designated debit card under your name; and/or
4.5.3. By debiting your bank account in which the Transaction Amount was credited; and/ or
4.5.4. Engaging any person at your sole risk and cost, to collect the amount due from you.
4.6. You hereby acknowledge and agree that Cheq or Ace may share any and/ or all the information provided by you to Cheq or Ace to any service provider, Financial Partner and/ or government agency for the purpose of providing the Services including but not limited to realising the amounts due and payable to Cheq or Ace by you in relation to the Services. Similarly, Cheq or Ace also reserves the right to pull information from any service provider, Financial Partner, and/ or government agency for the purposes of offering Services. Further, Cheq or Ace may share any and/ or all the information provided by you to Cheq or Ace to any third party including any agency or bureau in relation to any default payment status and default in meeting your obligations in the manner contemplated in these User Terms.
4.7. In the event a User fails to pay the Statement Amount for a period of 30 days from the date such Statement Amount becomes due, Cheq or Ace shall have the right to suspend the account of such User and notify the Merchant and Financial Partner regarding the suspension of the User’s account and take any other legal recourse against you.
Submission of Personal Information
5.1 Cheq or Ace collects general user data including name, email-id, phone number etc. to facilitate Services by creating an account of the User on the App in accordance with applicable laws. Cheq or Ace also collects relevant user data from the Merchants to facilitate the Service efficiently. The collection, verification, audit and maintenance of correct and updated User information is a continuous process and Cheq or Ace reserves the right, at any time, to take steps necessary to ensure User’s compliance with all relevant and applicable KYC requirements, if any.
5.2. You agree that all information provided by you for signing up on the App is correct, accurate current and complete. Cheq or Ace shall have the right to suspend or terminate your account without any prior notice to you, and refuse any and/ or all use, either present or future, of the Services if the information provided by you is untrue, inaccurate, not current or complete.
5.3. User account bearing details provided by the User are created and owned by Cheq or Ace. You hereby confirm that you have no objection to receive any promotional discounts, offers, marketing material, promotional material and any other form of communication from Cheq or Ace and/ or Financial Partner in such form as may be determined by Cheq or Ace.
5.4. In the case where the system is unable to establish unique identity of the User against the details provided to Cheq or Ace, the account shall be indefinitely suspended. Cheq or Ace reserves the full discretion to suspend a User’s account in the above event and does not have the liability to share any account information whatsoever.
5.5. You further agree that such personal information may be displayed, automatically or otherwise, upon login to your account and for initiating any transaction. Please know that your information including personal information and information required to service your account is readily available on the App and only viewable by you by logging onto the App.
5.6. It may be noted that Cheq or Ace handles all such information, including personal information in accordance with the provisions of the applicable law as may be applicable from time to time and only for the duration lawfully required thereunder.
5.7. You hereby specifically agree that you shall at all times comply with the requirements of the Information Technology Act, 2000, and also the rules, regulation, guidelines, byelaw, and notifications made thereunder.
Usage Conditions
6.1. Users agree to use the Services only for purposes that are permitted by these User Terms and any applicable laws as amended from time to time for the time being in force.
6.2. By using the App, you agree not to:
6.2.1. Authorize others to use your account;
6.2.2. Assign or otherwise transfer your account to any third person or legal entity;
6.2.3. Use the Service for unlawful purposes, including but not limited to sending or storing any unlawful material or for fraudulent purposes;
6.2.4. Use the Service for the purpose of Peer to Peer Lending;
6.2.5. Use the Service to cause nuisance, annoyance or inconvenience;
6.2.6. Use the Service with an incompatible or unauthorized device;
6.2.7. Impair the proper operation of the network and/or interfere with or disrupt the integrity or performance of the Service;
6.2.8. Reverse engineer or access the Service in order to design or build a competitive product or service, design or build a product using similar ideas, features, functions or graphics of the App or copy any ideas, features, functions or graphics of the App.
6.2.9. Launch an automated program or script, including, but not limited to, web spiders, web crawlers, web robots, web ants, web indexers, bots, viruses or worms, or any program which may make multiple server requests per second, or unduly burdens or hinders the operation and/or performance of the Service;
6.2.10. Try to harm the Service in any way whatsoever;
6.2.11. Disclose information designated as confidential by Cheq or Ace, without Cheq or Ace’s prior written consent; and
6.2.12. Copy or distribute the Service or other Cheq or Ace content without written permission from Cheq or Ace.
6.3. You are solely responsible for any breach of your obligations under these User Terms (including financial obligations) and for the consequences (including any loss or damage which Cheq or Ace may suffer) of any such breach.
Cancellations and Refunds
7.1. In the event of cancellation or refund in relation to a transaction undertaken by the User using our Services, such User will continue to be liable for paying the Statement Amount to Cheq or Ace within the timelines specified by Cheq or Ace.
7.2. You hereby undertake and agree to pay the Statement Amount within the timeline specified irrespective of cancellation / refund of a transaction. Cheq or Ace hereby undertakes and agrees that in the event of a cancellation / refund request being made by the User in accordance with the terms of the Merchant platform, the refund transaction amount (less cancellation charges, if any) (“Refund Amount”) shall be credited to the User’s account within the timelines agreed with the Merchant and subject to availability of funds of the Merchant.
7.3. You hereby acknowledge and agree that Refund Amount can only be utilised by the User to make payments to Cheq or Ace in the future against the use of our Services from time to time. It is hereby clarified that the User shall not have the right to transfer or withdraw the Refund Amount or use the Refund Amount in relation to any other services rendered by Cheq or Ace. You hereby agree, acknowledge and confirm that the Refund Amount will be credited to a designated bank account, a designated credit card account or any other designated financial account other than your account with us solely at the discretion of Cheq or Ace.
7.4. Refunds can be requested from Cheq app by contacting support or mailing us at contactus@terrafin.tech. Refunds typically take 7-10 working days to send money back to your card or bank account. For escalation please reach out to sreeram@remit2any.in
Limitation of Liability
8.1. Cheq or Ace shall not be responsible or liable for any loss or damage, howsoever caused or suffered by the User arising out of the use of the Products offered by Merchant or due to the failure of Merchant to provide Product to the Users for any reason whatsoever including but not limited to the User’s non-compliance with the Service’s terms, malfunction, partial or total failure of any network terminal, data processing system, computer telecom transmission or telecommunications system or other circumstances whether or not beyond the control of Cheq or Ace or any person or any organization involved in the above mentioned systems.
8.2. Cheq or Ace will not be liable for any damages of any kind arising from the use of the Products offered by the Merchant including, but not limited to direct, indirect, incidental, punitive, and consequential damages.
8.3. Cheq or Ace shall not be liable for any content that you may find indecent, offensive or objectionable. You shall use the Services at your own risk.
8.4. Cheq or Ace will not be held liable for any such compensation on account of the Merchant not meeting expectations of Users.
8.5. Cheq or Ace shall not be liable for any conduct of the Merchant or the Financial Partner. Cheq or Ace encourages Users to notify any complaints that User may have against any Merchant, directly to such Merchant.
8.6. No advice or information, whether oral or written, obtained by you from Cheq or Ace or through or from the Services shall create any warranty not expressly stated in the terms.
8.7. Cheq or Ace disclaims any and all liability in respect of the Merchant and their Products provided thereof.
8.8. User agrees to indemnify and keep Cheq or Ace, its affiliates and licensors indemnified against all costs, expenses, damages, losses and liabilities incurred or suffered by Cheq or Ace or its affiliated companies related to any User content posted or transmitted by User during the use of the App or Service or any unauthorised use of the App or Service in contravention of these User Terms.
Termination
9.1 Cheq or Ace may forthwith terminate and/ or suspend, in whole or in part, these User Terms, App or Services provided hereunder, for any reason including for reasons of breach of these User Terms.
9.2. Your sole right to terminate these User Terms is by deleting your account with us.
9.3. In the event of termination of these User Terms by Cheq or Ace or the User, the User shall be liable to pay the amounts due to Cheq or Ace under these User Terms, as per the Statement raised by Cheq or Ace till date of such termination.
Governing Law
10.1. These User Terms shall be governed by, and construed in accordance with, the laws of India, without reference to principles of conflicts of law. The parties agree that the courts of Mumbai shall have exclusive jurisdiction over any dispute arising from or relating to the User Terms and/or the App.
10.2. You expressly consent to the personal jurisdiction of said courts and waive any objection to such personal jurisdiction based on forums non convenience or any other basis.
Intellectual Property, Trademarks and Copyright
11.1. All notices, requests, demands, waivers, complaints, queries and other communications required or permitted to be given hereunder in relation to the Services under these Users Terms shall be emailed at contactus@terrafin.tech, if to Cheq or Ace, and if to the User, it shall be to the address registered with Cheq or Ace. Any other notices, requests, demands, waivers, complaints, queries and other communications arising out of any Merchant’s acts or omissions whatsoever including but not limited to deficiency of service, quality, merchantability of products or services, shall be resolved between the User and the Merchant only, and Cheq or Ace shall have no responsibility or liability whatsoever in this regard.
Intellectual Property, Trademarks and Copyright
12.1 Cheq or Ace is the sole owner or lawful licensee of all the rights to the App and its content. App content means its design, layout, text, images, graphics, sound, video etc. The App content embodies trade secrets and intellectual property rights protected under worldwide copyright and other applicable laws. All title, ownership and intellectual property rights in the App and its content shall remain with Cheq or Ace, its affiliates or licensor’s of Cheq or Ace content, as the case may be.
12.2. These User Terms do not constitute a sale and do not convey to User any rights of ownership in or related to the App, or any intellectual property rights owned by Cheq or Ace.
12.3. All rights not otherwise claimed under this contract are hereby reserved. The information contained in this App is intended, solely to provide general information for the personal use of the reader, who accepts full responsibility for its use. Cheq or Ace does not represent or endorse the accuracy or reliability of any information, or advertisements (collectively, the “Content”) contained on, distributed through, or linked, downloaded or accessed from any of the Services contained on this App, or the quality of any products, information or other materials displayed, or obtained by you as a result of an advertisement or any other information or offer in or in connection with the Services provided through the online technology platform. Cheq or Ace reserves the right to make changes and corrections to any part of the Content of this App at any time without prior notice.
12.4. Cheq or Ace accepts no responsibility for any errors or omissions, or for the results obtained from the use of this information. All information on this App is provided “as is” and “as available” with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose. Nothing herein shall to any extent substitute for the independent investigations and the sound technical and business judgment of the User(s). In no event shall Cheq or Ace be liable for any direct, indirect, incidental, punitive, or consequential damages of any kind whatsoever with respect to the Service. User(s) of this App must hereby acknowledge that any reliance upon any content shall be at their sole risk. Cheq or Ace reserves the right (but shall have no obligation) to pre-screen, review, flag, filter, modify, refuse or remove any or all Content from any Service. It reserves the right to moderate, publish, re-publish, and use all user generated data, contributions and comments (including but not limited to reviews, comments, likes, favourites, votes) posted on the App as it deems appropriate (whether in whole or in part) for its product(s), whether owned or affiliated. It is not liable to pay royalty to any user for re-publishing any content across any of its platforms.
12.5. Cheq or Ace reserves the right, in its sole discretion and without any obligation, to make improvements to, or correct any error or omissions in any portion of the Services or the App.
12.6. All related icons and logos are registered trademarks or service marks of Cheq or Ace in various jurisdictions and are protected under applicable copyright, trademark and other proprietary rights applicable laws. The unauthorized copying, modification, use or publication of these marks is strictly prohibited.
12.7. All content on the App and Service is the copyright of Cheq or Ace except the third party content and any link to third party website on our App.
12.8. Any systematic retrieval of Cheq or Ace content to create or compile, directly or indirectly, a collection, compilation, database or directory (whether through robots, spiders, automatic devices or manual processes) without written permission from Cheq or Ace is prohibited.
12.9. In addition, use of the content for any purpose not expressly permitted in this agreement is prohibited and may invite legal action. As a condition of your access to and use of Cheq or Ace’s Services, you agree that you will not use the App and/or Service to infringe the intellectual property rights of others in any way. Cheq or Ace reserves the right to terminate the account of a User(s) upon any infringement of the rights of others in conjunction with use of Cheq or Ace’s Service, or if Cheq or Ace believes that User’s conduct is harmful to the interests of Cheq or Ace, its affiliates, or other Users, or for any other reason in Cheq or Ace’s sole discretion, with or without cause.
General terms
13.1. These User Terms may be varied, amended or modified, in whole or in part by Cheq or Ace at any time without notice to the Users.
13.2. These User Terms constitute a principal-to-principal relationship between Cheq or Ace and the Users and do not attempt to create any agency relationship. The Services are being rendered by Cheq or Ace as an independent entity and nothing contained herein shall be deemed to create any association, partnership, joint venture or relationship of principal and agent or master and servant, or employer and employee between Cheq or Ace and the Users hereto or any affiliates or subsidiaries thereof or to provide either Cheq or Ace or the User with the right power or authority, whether express or implied to create any such duty or obligation on behalf of the other party, i.e. either Cheq or Ace or the User.
13.3. Cheq or Ace may assign in whole or in part the benefits or obligations of these user Terms to its associates of affiliates of other group company. or any other company, in circumstances including but not limited to pursuant to a restructuring or re-organization or demerger of its or something of the nature. Cheq or Ace shall not require approval or consent of the User. Cheq or Ace can at its discretion provide an intimation of such assignment to the Users. However, the User shall not assign, in whole or in part, the benefits or obligations of these User Terms, without the prior written permission of Cheq or Ace
13.4. Cheq or Ace shall not be liable for its failure to perform under these User Terms as a result of occurrence of any force majeure events like acts of God, fire, wars, sabotage, civil unrest, labour unrest, action of statutory authorities or local or central governments, change in laws, rules and regulations, affecting the performance of Cheq or Ace, payment gateways or Merchant.
13.5. Unless otherwise expressly stated, failure to exercise or delay in exercising a right or remedy hereunder shall not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy, hereunder shall prevent any further exercise of the right or remedy or the exercise of any other right or remedy.
13.6. The terms and provisions of these User Terms by their nature and content are intended to survive the performance hereof by any or all parties hereto shall so survive termination.
13.7. If any provision, hereunder becomes, in whole or in part, invalid or unenforceable but would be valid or enforceable if some part of that provision was deleted, that provision shall apply with such deletions as may be necessary to make it valid If any court/tribunal of competent jurisdiction holds any of the provisions, hereunder unlawful or otherwise ineffective, the remainder shall remain in full force and the unlawful or otherwise ineffective provision shall be substituted by a new provision reflecting the intent of the provision so substituted.
13.8. The User warrants that it shall not directly or indirectly solicit for employment, nor offer employment to nor enter into any contract of services with any person employed by Cheq or Ace
13.9. By clicking on the tab/button/ checkbox of Cheq or Ace option or any other button/checkbox/confirmation of similar nature or by the virtue of usage of App and Services or continued usage thereof:
13.9.1. You confirm that you are eligible under applicable law to contract;
13.9.2. You consent to conduct transactions, accept these User Terms as displayed on the App;
13.9.3. You consent to receive communications, notices and information from us physically/ electronically, whether by email or other electronic means.
13.10. It is agreed and clarified that the arrangement set out by these User Terms between Cheq or Ace and Users is on a non-exclusive basis.
Transcorp Terms & Conditions
These Terms and Conditions (“Terms”) govern access or use by you (“User”, “you”, “your”) of the Services (defined below) provided by Transcorp International Limited (“Transcorp”, “we”, “us” or “our”), a company established under the laws of India, having its principal office at Plot No. 3, HAF Pocket, Sector 18A, Dwarka, Phase-II, New Delhi-110075. Transcorp is authorized by the Reserve Bank of India (“RBI”) to issue and operate prepaid payment instruments in India in accordance with the provisions of the Payment and Settlement Systems Act, 2007 and directions and regulations framed thereunder, as amended from time to time. Please read these Terms carefully before accessing or using the Services. These Terms also include our privacy policy, available at https://transcorpint.com/ppi-policies-and-tc/ (“Privacy Policy”).
1. Definitions
1.1. “Applicable Law(s)” shall mean all applicable statutes, enactments, ordinances, rules, by-laws, regulations, notifications, guidelines, policies, directions, directives and orders of any Governmental Authority, tribunal, board, or a court of competent jurisdiction, in force at the relevant time in India.
1.2. “ATM” shall mean Automated Teller Machines where withdrawal through Card is allowed.
1.3. “Add-on Card” means additional Card(s) issued to a cardholder.
1.4. “Card” shall mean Prepaid Card issued by Transcorp in association with payment networks.
1.5. “Min-KYC Wallet/ Card” shall mean the Wallet/Card issued to you after obtaining ‘minimum details’ about you, these details may be determined by Transcorp from time to time.
1.6. “Full KYC Wallet/ Card” shall mean the Wallet/Card issued to you after completing your full KYC according to the relevant RBI regulations.
1.7. “KYC” shall mean the Know-Your-Customer process undertaken by Transcorp as prescribed under Applicable Law.
1.8. “Governmental Authority” shall mean any national governmental authority, statutory authority, regulatory authority, government department, agency, commission, board, rule or regulation making entity or authority having or purporting to have jurisdiction over any Party, or other subdivision thereof to the extent that the rules, regulations, standards, requirements, procedures, or orders of such authority, body, or organisation have the force of any Applicable Law or any court or tribunal having jurisdiction, including but not limited to the RBI.
1.9. “OTG Device” shall mean the physical device (card or otherwise) offered to you and linked to the Wallet provided by Transcorp.
1.10. “PIN” shall mean the 4 digits Personal Identification Number which will be handed over along with the Card(s) in a secured and sealed Welcome Pack or set up by the User as the case may be.
1.11. “Password” shall mean the password used for accessing or making any transaction of account over Internet, received along with the Card as set by the User.
1.12. “PPI Master Directions” shall mean the Master Directions on Prepaid Payment Instruments, 2021 issued by the RBI on 27th August 2021, as amended from time to time.
1.13. “RBI” shall mean the Reserve Bank of India.
1.14. “Services” shall mean the products and services made available by Transcorp to the Users in connection with the Wallets/Cards and as more specifically mentioned in clause 2 of these Terms.
1.15. “Transaction” shall mean transaction includes cash withdrawals by utilizing the Card at ATMs.
1.16. “Wallet” shall mean the prepaid payment instruments issued by Transcorp in accordance with the PPI Master Directions.
2. Services
2.1. Small PPI Wallet/ Cards
2.1.1. For the purpose of availing the Small PPI Wallet, the User shall be required to register with Transcorp.
2.1.2. At the time of onboarding, you will be required to provide minimum details as may be required by Transcorp under Applicable Law. Transcorp will collect and authenticate your personal identification details to undertake KYC in accordance with Applicable Law prior to issuing a Wallet.
2.1.3. You will be able to load a maximum of INR 10,000/- per month, and a maximum of INR 1,20,000/- in a financial year in such a Min-KYC (Small PPI) Wallet. In addition, the available balance in such Small PPI Wallet shall not exceed INR 10,000/- at any given point in time. You will be allowed to perform debit transactions in Small PPI Wallet up to a maximum of INR 10,000/- per month. The Small PPI Wallet can be loaded through online payment methods such as domestic credit/debit cards, net banking, permitted instruments and such other instruments/modes as may be permitted from time to time as per the RBI Master Directions.
2.1.4. You cannot load or top-up your Min-KYC Wallet using cash.
2.2. Full KYC Wallet/ Cards
2.2.1. For the purpose of availing the Full KYC Wallet Services, the User shall be required to register with Transcorp.
2.2.2. At the time of onboarding, you will be required to provide KYC documents, as may be required by Transcorp, such as proof of address, proof of identity, Permanent Account Number (PAN) and your photograph, as per the prescribed mechanism, including but not limited to audio-visual means.
2.2.3. You hereby give consent to Transcorp to use copies of the KYC documents (including the information contained in such documents) submitted by you, for completing your KYC as required under Applicable Law and update your records wherever required. You further authorise Transcorp to verify your PAN details with the National Securities Depository Limited (“NSDL”) and with other permitted repositories, as the case may be, to conduct KYC, and for any other purpose as consented by you. Transcorp may also request, and you may provide your consent, to retrieve your KYC Documents (uploaded by a third party pursuant to the customer due diligence done by such third party on you earlier), from the Central KYC Records Registry (“CKYCR”). On receipt of your consent, Transcorp will search your KYC documents on the CKYCR using your PAN and date of birth provided by you to Transcorp and will subsequently download the same from the CKYCR.
2.2.4. In addition to the above, please note that you may also choose to complete the KYC verification process by opting for the video KYC facility made available by Transcorp. You may avail this video KYC facility only if you: (a) are physically present in India; and (b) have good internet connection which allows Transcorp to identify you and the KYC Documents adequately, beyond doubt as per the Applicable Law. By opting for this video KYC facility, an audio-video call will be initiated between you and a Transcorp official for undertaking necessary steps towards completing your full KYC. By initiating the KYC process using video KYC facility, you consent to the terms provided herein. You understand and acknowledge that the availability of the video KYC facility is dependent on the availability of a Transcorp officer and may be impacted basis availability of other technical stipulations such as any delay, interruption, or failure in network or system connectivity at either end. Further, any disruption in the video KYC process may require a fresh session as per the Applicable Laws. By participating in the video KYC process, you consent for Transcorp to capture, store, and share your live GPS coordinates, audio, video, photographs, screenshots etc. (including your signatures and other information) for the purpose of verifying your identity in connection with the KYC process for your Full KYC Wallet/Card. You are strictly prohibited from recording/ using any content of the audio-video call during the video KYC process and/or publishing it in any form or any manner whatsoever. If you violate any of the applicable terms and conditions, which includes any unauthorized recording and/or publishing of the audio-video call during the video KYC, then Transcorp shall have the right to remove your account, including any information, material or content associated with the same, immediately, and take any other action as it deems fit in relation to the Wallet/Cards and/or Services provided by us, including any legal action.
2.2.5. The available balance in such Full KYC Wallet/Card shall not exceed INR 2,00,000/- at any given point in time. The Full KYC Wallet/Card can be loaded through online payment methods such as domestic credit/debit cards, net banking, instruments and such other instruments/modes as may be permitted from time to time as per the RBI Master Directions.
2.2.6. I hereby authorize Transcorp and its agent/partner to extract my CKYC Documents from the CKYC Registry for the purposes of issuance of Transcorp PPI. I undertake to provide further information and documents that may be required by them and follow all the terms and conditions which are applicable on issuance and usage of PPI and do not have a temporary OTP based E-KYC uploaded on the CKYC Registry. I understand my KYC status may be downgraded in case my record is invalid or breaches to meet the AML/CFT rating guidelines.
3. UPI Services
3.1. You may use the UPI functionality, only if you have a valid and an operational Full KYC Wallet/Card with a verified mobile number.
3.2. By using the UPI functionality, you provide your unequivocal and explicit consent to Transcorp to access your mobile device credentials including mobile device identification number, location and SIM identification number (in encrypted form or otherwise) to enable Transcorp to verify and authenticate your Full KYC Wallet/Card held with Transcorp and/or enable any transactions undertaken by you through your Full KYC Wallet/Card, inter alia to enable Transcorp to identify/detect any possible fraud or abuses, and/or for any other similar purposes.
3.3. Should you choose to avail the UPI functionality, you will be issued a virtual payment address that will be linked to your Full KYC Wallet/Card (“UPI VPA”). You may thereafter use the said UPI VPA to undertake PPI interoperability transactions via UPI.
3.4. Each UPI transaction made by you cannot exceed any limit prescribed by the NPCI from time to time.
3.5. Transcorp may, at its sole discretion or on instructions of any Governmental Authority, temporarily or permanently suspend or terminate your access to the UPI functionality and/or your Full KYC Wallet/Card, if it has reason to believe that there is suspicious or unusual activity being carried out through your UPI VPA or for such other reasons as we may deem fit.
3.6. Transcorp may reject your transaction via the Wallet/Card for any reason, including but not limited to risk management, fraud, suspicion of fraudulent/ unlawful transactions and/ or transactions in violation of Applicable Laws or Transcorp policies. In such case, you may be issued a refund for such transaction in accordance with the applicable refund policy.
3.7. Transcorp may suspend your account in the event Transcorp identifies a risk of purported, fraudulent activity/ abusive behaviour or for such other reason as Transcorp may deem fit.
4. ATM Transactions
4.1. The ATM Transactions will be allowed only to Full KYC Cards as mentioned in clause 1.6 of these Terms and Conditions or accordance with the guidelines issued by Reserve Bank of India from time to time.
4.2. The PIN is used for cash withdrawals and balance enquiry at ATMs. The PIN should be safeguarded carefully. Usage of wrong PIN three times would invalidate the Card for the rest of the day. Transcorp bears no liability for unauthorised use of the Card. It is the cardholder’s liability to ensure that the knowledge of the PIN/PIN mailer does not fall into any other person’s hand.
4.3. The change of PIN (if required by the User) may be allowed subject to the policies of Issuer.
4.4. Transcorp has the authority of the cardholder to debit the Card Balance of the cardholder for all withdrawals affected by the cardholder by using the Card, as evidenced by PPI Issuer’s records, which will be conclusive and binding on the cardholder.
4.5. Transcorp also has the authority of the cardholder to debit the Card balance with service charges (if any) notified by Transcorp from time to time via website/SMS or other modes of communications.
4.6. The Transaction record generated by the ATM will be binding on the cardholder and it will be conclusive unless verified otherwise and corrected by Transcorp.
4.7. Expiry date of Card is printed on Card itself. On expiry of the validity period, cardholder is advised to request for issuance of new card with extended expiry date. Expired card cannot be used at ATM.
4.8. The cardholder shall sign the Card on the reverse as per the specimen signature given on the application form for the card.
4.9. Transactions at ATMs: Withdrawals are subject to the transaction limit set by the Reserve Bank India from time to time.
4.9.1. The cardholder’s balance is liable to be debited with the fees, as laid down in the schedule of charges placed on the website of the Issuer.
4.10. Other important conditions governing the transactions:
4.10.1. The Card is meant for withdrawals against the balance already available in the Card. It is the cardholder’s obligation to maintain sufficient balance in the Card to meet withdrawals and service charges.
4.10.2. The cardholder should fulfil and abide by all Act/regulations issued by the Reserve Bank of India and PPI Issuer. The cardholder should carry out transactions at ATMs in accordance with the applicable Regulations.
4.10.3. Transcorp at its discretion may amend the Terms and conditions governing Cards. Suitable notification for such changes will be placed in PPI Issuer’s website or any other mode by the PPI Issuer, and the same will be binding on the cardholder.
4.10.4. Fees / charges (if any) for the use of the Card is not refundable under any circumstances.
4.10.5. Use of the Card shall be terminated without notice, upon the death, bankruptcy or insolvency of the cardholder or on receipt of a letter from the cardholder, receipt of an attachment order from a competent court or revenue authority or from RBI due to violation of regulations, or for other valid reasons or when the whereabouts of the cardholder become unknown to Transcorp due to any cause attributable to the cardholder.
4.10.6. Transcorp is not held responsible/ liable for failure of any ATM to dispense cash or if the customer is unable to withdraw cash for any reason whatsoever or is unable to avail any facility mentioned herein.
4.10.7. Transcorp at its discretion will approve/reject any card transaction. Transcorp shall put in place suitable cooling period for funds transfer and cash withdrawal upon opening the PPI or loading / reloading of funds into the PPI or after adding a beneficiary so as to mitigate the fraudulent use of PPIs.
4.10.8. A transaction put through by utilizing the card in ATM shall be binding on the customer.
4.10.9. The cardholder should not countermand a withdrawal or any other transaction, which he has undertaken by means of his card.
4.10.10. Transcorp is not responsible/liable for the failure of any ATM to dispense cash or if the customer is unable to withdraw cash due to any reason whatsoever or is unable to avail any facility mentioned herein.
4.10.11. Transcorp not responsible/liable for the failure of any transactions made at merchant establishments or online due to any reason whatsoever or is unable to avail any facility mentioned herein.
4.10.12. Transcorp shall not be liable for any loss caused by a technical breakdown of the Payment system.
4.10.13. The Card is the property of the Transcorp and will be returned by the cardholder unconditionally and immediately to Transcorp upon request by the Transcorp. Transcorp reserves the right to cancel the Card and stop its operations unilaterally without assigning any reason. The decision of Transcorp is conclusive and binding upon the cardholder.
4.10.14. The Card is non-transferable.
4.10.15. In the event of death of the cardholder during the currency of the card, Transcorp will stop operations in the account. The balance available in the card account will be settled as per the rules governing the disposal of assets of the Deceased Constituents and paid in INR.
4.10.16. Use of the Card shall be terminated without notice, upon receiving intimation of the death, bankruptcy or insolvency of the cardholder or on receipt of an attachment order from a Competent court or revenue authority or from RBI due to violation of any guidelines/ rules including FEMA/Exchange Control Regulations, or for other valid reasons or when the whereabouts of the cardholder become unknown to Transcorp due to any cause attributable to the cardholder.
5. Escrow Account
5.1. Wallet/Card balances held by you are held in an escrow account with a bank which is operated by Transcorp for settling the funds in connection with the Services.
6. Permissible Use
6.1. The Wallet/Card may be used for the following purposes:
6.1.1. Making payment goods and services, bills, and all purposes as permitted in the RBI Master Directions (updated from time to time);
6.1.2. The Min-KYC Wallet/Card may only be used for transactions with prescribed merchants for the products/services as mentioned by the merchant on its platform;
6.1.3. No redemption or cash withdrawal is permitted on the Wallet/Card, except as per directions of the RBI, if any;
6.1.4. Any duplication of the physical device issued by Transcorp linked to the Wallet/Card will be subject to cancellation;
6.1.5. The Wallet/Card may not be used for transactions in foreign currency;
6.1.6. The Wallet/Card balance once utilised for any transaction cannot be reverted;
6.1.7. The Wallet/Card is not transferrable or assignable;
6.1.8. Transcorp reserves the right at any time to refuse for any reason whatsoever, the use of the Wallet/Card with the website/mobile application/payment gateway/POS machines of designated merchants.
6.1.9. You shall promptly inform Transcorp of any change of your name, mailing address, e-mail address or any other required data provided for the issuance of Wallet/Card and submit the fresh KYC documents in respect of such change, as may be demanded by Transcorp.
7. Representations and Warranties
7.1. You represent and warrant that:
7.1.1. You are at least 18 years old;
7.1.2. You are a citizen or a legal resident of India;
7.1.3. You have full legal capacity and authority to agree and bind yourself to these Terms;
7.1.4. if you represent an entity, organisation, or any other legal person, you confirm and represent that you have the necessary power and authority to bind such entity, organisation, or legal person to these Terms.
7.1.5. You are not barred or otherwise legally prohibited from accessing or using the Service;
7.1.6. All information that you provide in relation to the Service is complete, true, and correct on the date of agreeing to these Terms and shall continue to be complete, true, and correct while you use the Service;
7.1.7. You are not politically exposed (PEP) or related to a PEP;
7.1.8. You permit the issuer to consider the address input by you as your current address even if the address does not match that as per the KYC documents submitted/processed;
7.1.9. You agree to permit notifications related to the wallet/card/OTG to be sent to your alternate mobile number (different from your registered mobile number) if so is provided by you;
7.1.10. You permit entering into shared/joint account programs and consent to funds loaded by you to be loaded into another Transcorp user’s account and these funds may be utilised by other users who are part of the shared/joint account program.
7.1.11. As part of a shared/joint account programs, you will make spend transactions only after informing the other users who are part of the shared/joint account program and obtain explicit consent for spending the funds of the user(s) who have loaded funds into your account. Transcorp will not be responsible for this matter.
7.1.12. You will not load the Wallet/Card/card/OTG with proceeds or source of funds which are directly or indirectly related to Cryptocurrencies, VDA (Virtual Digital Assets), unauthorised Foreign Currencies/unauthorised Foreign Exchange, Gambling, Gaming, Pornography and related demerit goods/services.
7.1.13. You will not spend funds that are on the Wallet/Card/card/OTG with proceeds or source of funds which are directly or indirectly related to Cryptocurrencies, VDA (Virtual Digital Assets), unauthorised Foreign Currencies/unauthorised Foreign Exchange, Gambling, Gaming, Pornography and related demerit goods/services.
7.1.14. You have not fabricated any KYC documents or user details submitted and they are genuine in nature.
8. User Responsibility
8.1. You agree that you are solely responsible for understanding and complying with the provisions of the Applicable Law at all times.
8.2. You hereby agree to use the Wallet/Card in accordance with Applicable Law and further agree not to use it for any unlawful purpose. You will not undertake or encourage any illegal, criminal, money laundering, terrorist activities or any other activity that is in violation of Applicable Laws while using the Wallet/Card.
8.3. You are solely responsible for maintaining the security and confidentiality of your password/PIN/credentials associated with your Wallet/Card and immediately notify us of any loss or theft of your online Wallet/Card and OTG Device, or authentication data or if any fraud/abuse is detected, any unauthorised use, any other breach of security etc. with respect to your Wallet/Card. You shall be responsible in case of any compromise of your password/PIN/credentials and transaction done due to such compromise of security and confidentiality of your password/PIN/credentials and other related sensitive information.
8.4. In case the OTG Device is lost or misplaced, you shall promptly inform Transcorp in writing and the same shall be addressed in accordance with the various policies of the issuer.
8.5. You shall extend all cooperation to us in our defence of any proceedings that may be initiated against us due to a breach of your obligations or covenants under these Terms.
8.6. You shall not use the Service in any manner except as expressly permitted in these Terms. Without limiting the generality of the preceding sentence, you shall not:
8.7. Make any unauthorized use of the Services, including collecting usernames and/or email addresses of other users by electronic or other means.
8.8. Circumvent, disable, or otherwise interfere with security-related features.
8.9. Trick, defraud, or mislead us and other users, especially in any attempt to learn sensitive information.
8.10. Engage in any automated use of the system, such as using scripts, or using any data mining, robots, or similar data gathering and extraction tools.
8.11. Interfere with, disrupt, or create an undue burden on the networks or services connected to the Services.
8.12. Attempt to impersonate another user or person or use the username of another User.
8.13. Use the Services as part of any effort to compete with us.
8.14. Decipher, decompile, disassemble, or reverse engineer any of the software comprising or in any way making up a part of the Services.
8.15. Harass, annoy, intimidate, or threaten any of our employees or agents engaged in providing any portion of the Services to you.
8.16. Copy or adapt the software comprising the Services.
8.17. Disparage, tarnish, or otherwise harm, in our opinion, us and/or the Services.
8.18. Attempt to gain unauthorised access to any portion or feature of the Service, any other systems or networks connected to the Service, to any of our servers by hacking, password mining, or any other illegitimate means.
8.19. Use the Services in a manner inconsistent with any Applicable Laws.
9. Validity
9.1. The Full KYC Wallet/Card shall be valid for the validity as mentioned on your Wallet/Card OTG. Any unutilized balance remaining after the date of expiry will be treated as per Applicable Law.
9.2. The Min-KYC Wallet/Card shall be valid for the validity as mentioned on your Wallet/Card OTG or as per timelines prescribed under Applicable Laws. Any unutilized balance remaining after the date of expiry will be treated as per Applicable Law.
9.3. Wallet/Cards with no financial transactions for a consecutive period of one year will be made inactive by us, after notifying you. We may re-activate such Wallet/Card after validation and applicable due diligence. Transcorp reserve the right to make the card inactive based on its desecration after informing the Wallet/cardholder and close the Card/Wallet in case no response is received from the customer.
10. Charges
10.1. Transcorp may levy the following charges on the Users:
10.1.1. Any fees charged by Transcorp in respect of any Card and/or Wallet issued to the User, including replacement, renewal, handling and other fees, if any. These fees are non-refundable, non-transferrable and non-assignable in nature.
10.1.2. Service charges on specific types of transactions. The method of computation of such charges will be as notified by Transcorp from time to time on its website: www.transcorpint.com
10.1.3. Any charges levied by the co-branding partner or any other partner that is involved in providing the services to the users as updated from time to time.
10.1.4. Any network related surcharges including but not limited to fuel, IRCTC, governmental payments etc. and others.
10.1.5. All charges, in the absence of manifest error, shall be final and binding on the User and shall be conclusive in nature.
10.1.6. All statutory taxes, goods and service tax, all other imposts, duties (including stamp duty and relevant registration charges, if any, in connection with the Wallet/Card) and taxes (of any description whatsoever) as may be levied from time to time by a Governmental Authority in respect of or in connection with the Wallet/Card, will be borne by the Customer.
10.1.7. Nothing contained herein shall prevent Transcorp from deducting tax deductible at source as required under the Applicable Laws, from any transaction through the Wallet/Card.
10.1.8. Transcorp shall not pay any interest on Wallet/Card balances.
11. Third Party Services
11.1. While using the Services, you may avail services provided by third party service providers including but not limited to merchants and payment aggregators in conjunction with the Services provided by Transcorp (“Third Party Services”).
11.2. Your use of each of the Third-party services is subject to the terms of use, if any, that each of those Third-party services may be subject to.
11.3. We have not reviewed the Third-party services, and we are not responsible for them. We have no control over the third-party services, and we accept no responsibility for them or for any loss or damage that may arise from your use of them. If you decide to use any of the Third-party services, you do so entirely at your own risk and subject to the terms and conditions for use of such third-party services. Nothing may be considered as an endorsement by Transcorp of the Third-party services or the entities that own or operate the Third-party services.
11.4. The User specifically acknowledges that we are not liable, and you agree not to seek to hold us liable, for the conduct of third-party service providers, including other users of such Third-party services, and that the risk of the third-party services and of injury from the foregoing rests entirely with you.
12. Co-Branding Partner
12.1. For the purpose of provision of Services, Transcorp may enter into an agreement with a co-branding partner as per the board approved policy of Transcorp.
13. Intellectual Property Rights
13.1. All rights, title, and interest in and to the Services, including all intellectual property rights arising out of Services, are owned by or otherwise licensed to us. Subject to compliance with these Terms, we grant you a non-exclusive, non-transferable, non-sublicensable, royalty-free, revocable, and limited licence to use the Services in accordance with these Terms and its written instructions issued from time to time.
13.2. Except as expressly stated in these Terms, nothing in these Terms should be construed as conferring any right in or license to our or any third-party’s intellectual rights.
14. Indemnity
14.1. You shall indemnify, defend at Transcorp’s option, and hold Transcorp, its affiliates, and their officers, associates, successors, assigns, licensors, employees, directors, agents, and representatives, harmless from and against any direct or indirect losses, actions, damages, penalties, cost and expenses, claim, demand, lawsuits, judicial proceeding, (including, without limitation, from all damages, liabilities, settlements, costs and attorneys’ fees) arising from or relating to:
14.1.1. Acts, commissions or omissions, errors, misrepresentations, misconduct, negligence, fraud, forgery, dishonesty, violation attributable to you and/or your personnel, agents, representatives, or any third party who may use your account, use of the Services, violation of these Terms or any infringement of these Terms;
14.1.2. Contravention of any Applicable Law or industry practice applicable to you;
14.1.3. Any claim from any authority or any third party as a result of any action or inaction on your part, including but not limited to breach of these Terms or any acts committed beyond the scope of these Terms.
15. Limitation of Liability
15.1. Notwithstanding anything to the contrary contained herein, neither Transcorp nor any of its affiliates or related parties shall have any liability to you or any third party for any direct, indirect, incidental, special or consequential damages or any loss of revenue or profits arising under, directly or indirectly, or relating, in any manner whatsoever, to these Terms, including any action taken by any adjudicating authority. To the maximum extent permitted by law, you agree to waive, release, discharge, and hold harmless Transcorp, its affiliated and subsidiary companies, its parent company, and each of their directors, officers, employees, and agents, from any and all claims, losses, damages, liabilities, expenses and causes of action arising out of your use of the Services.
16. Term and Termination
16.1. These Terms shall remain in effect unless terminated in accordance with the terms hereunder.
16.2. We may terminate your access to the Wallet/Card or use of the Service, or any portion thereof, immediately and at any point, at our sole discretion (a) if you violate or breach any of the obligations, responsibilities, or covenants under these Terms, or (b) when you cease to become a user of our Service, or (c) if you do not, or are likely not to, qualify under Applicable Law, to access and use the Services, or (d) for any other business, legal, or regulatory reason.
16.3. If you wish to stop availing the Services, you need to notify us via email to cards@transcorpint.com and your account will be closed as per the Board Approved Policy and/or any other policies of the issuer.
16.4. We may terminate the Services we provide at any time, for any reason, and without advance notice to you your account will be closed as per the Board Approved Policy and/or any other policies of the issuer.
16.5. Upon termination or expiry of these Terms:
16.5.1. The validity of the Wallet/Card will expire;
16.5.2. These Terms shall terminate, except for those clauses that expressly or are intended to survive termination or expiry; and
16.5.3. The balance amount available in the Wallet/Card shall be transferred to the source account, or your pre-designated bank account intimated by you to Transcorp or as may be permitted under Applicable Law.
17. Disclaimer
17.1. The Services of Transcorp are provided on an “as is” and “as available” basis, and Transcorp hereby expressly disclaims any and all warranties, express or implied, including but not limited to any warranties of condition, quality, durability, performance, accuracy, reliability, merchantability or fitness for a particular purpose. All such warranties, representations, conditions, undertakings and terms are hereby excluded. Transcorp makes no representations or warranties about the validity, accuracy, correctness, reliability, quality, stability, or completeness of any information provided by Transcorp. Transcorp does not represent or warranty that the manufacture, importation, distribution, offer, display, purchase, sale and/or use of products or services offered or displayed on the website does not violate any third party rights; and Transcorp makes no representations or warranties of any kind concerning any product or service offered or displayed on the web site. No information, whether oral or written, obtained by you from Transcorp shall create any warranty not expressly stated herein.
17.2. We do not take part in the actual transaction that takes place between the buyers and sellers and hence are not a party to any such contract for sale negotiated between buyers and sellers. All transactions will be the responsibility of the consumers/customers and users only.
17.3. Transcorp is under no obligation to partake in disputes between any Users, or between Users and any third party arising in connection with the use of the Services. This includes, but is not limited to, delivery of goods and services by any third parties, including third-party service providers. You release Transcorp, its officers, employees, agents, and successors in rights from all claims, damages, and demands of every kind, known or unknown, suspected or unsuspected, disclosed or undisclosed, arising directly or indirectly out of or in any way related to such disputes and the Services. Transcorp reserves the right, but has no obligation, to become involved in any way with disputes between you and any other User of the Services.
18. Changes to Terms
18.1. The Terms are subject to revisions at any time, as determined by Transcorp, and all changes are effective immediately upon being posted. It is your responsibility to review these Terms periodically, for changes. Any continued use by you of the Services after such change will be deemed to be an acceptance of the changes by you.
19. Customer Support
19.1. For further details and enquiries, contact our customer support service at +91 7597182222.
19.2. You can also email us at cards@transcorpint.com or visit www.transcorpint.com and submit your queries and details.
20. Governing Law and Jurisdiction
20.1. These Terms shall be governed by and construed in accordance with the laws of India and subject to the various clauses of this document, the courts of New Delhi, India shall have exclusive jurisdiction over any Dispute (defined below) concerning these Terms.
20.2. Any instances of fraud, misuse of the Wallet/Card, or any dispute will be resolved as per the Customer Grievance Policy of the company available at https://transcorpint.com/report-issue-for-ppi-card-instrument/
20.3. Any dispute or claim arising out of or in connection with or relating to these Terms or their breach, termination, or invalidity hereof (“Dispute”) shall be referred to and finally resolved by arbitration in Delhi in accordance with the Arbitration and Conciliation Act, 1996 for the time being in force, which rules are deemed to be incorporated by reference.
20.4. Within 30 (thirty) days of the issue of a notice of Dispute, Transcorp and you shall mutually agree on the appointment of a sole arbitrator. If such mutual agreement is not arrived at within the aforesaid 30 (thirty) days’ period, Transcorp and you shall appoint such sole arbitrator in accordance with the Arbitration and Conciliation Act, 1996.
20.5. The seat of arbitration shall be Delhi and the arbitration proceedings shall be conducted in the English language.
20.6. We/You agree to keep the arbitration confidential and not disclose to any person, other than those necessary to the proceedings, any information, transcripts, or award unless required by Applicable Law. The decision of the arbitrator shall be final and binding on us/you hereto.
20.7. We/You hereto agree that our/your consent for the resolution of the Dispute through arbitration shall not preclude or restrain us from seeking suitable injunctive relief in appropriate circumstances from courts in Delhi.
20.8. The cost of arbitration shall be borne in a manner by us/you as determined by the arbitrators. In the meantime, we/you shall bear our/your own cost for the arbitration which shall be reimbursed as per the directions in the arbitral award.
21. Miscellaneous
21.1. Severability — If any provision of these Terms is determined by any court or other competent authority to be unlawful or unenforceable, the other provisions of these Terms will continue in effect. If any unlawful or unenforceable provision would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect (unless that would contradict the clear intention of the clause, in which case the entirety of the relevant provision will be deemed to be deleted).
21.2. Waiver — No failure or delay in exercising any right, power or privilege hereunder shall operate as a waiver thereof nor shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof or the exercise of any other right, power or privilege. Every right or remedy herein conferred upon or reserved to either party shall be cumulative and shall be in addition to every right and remedy existing at law or equity or by statute and the pursuit of any one right or remedy shall not be construed as an election.
21.3. Force Majeure — You agree that we shall not be liable for any breach of these Terms if such breach is caused by an event that is unforeseeable and beyond our reasonable control such as, depending on the circumstances, unavailability of any communication system, breach or virus in our system, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, unauthorized access to computer data and storage devices, computer crashes and regulatory or government actions (“Force Majeure Event”). In such circumstances, we will be entitled to a reasonable extension of time to perform our obligations and shall take commercially reasonable methods to inform you of the Force Majeure Event and use all reasonable endeavours to mitigate the effects of the Force Majeure Event.
21.4. Notices — All notices or demands to or upon web site shall be effective if in writing and shall be duly made when sent to Transcorp at the following address:
Transcorp International Limited, Plot No. 3, HAF Pocket, Sector 18A, Dwarka, Phase-II, New Delhi-110075
21.5. Third Party Rights — No third party shall have any rights to enforce any terms contained herein.
21.6. Translations — Transcorp may provide you with translated versions of these Terms solely to assist you with understanding these Terms in greater detail. The English version of these Terms shall be controlling in all respects. In the event of any inconsistency between the English version of these Terms and any translated version, the terms of the English version shall prevail.
Transcorp Support Team
Phone: +91-7597182222
Email: cards@transcorpint.com
