Payworld money Wallet is a semi-closed prepaid instrument issued 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 (hereinafter referred to as “Payworld money Wallet” or “Wallet”). The value in the Payworld money Wallet can be used by you for money transfer services, online payments for purchase of goods/or services from any merchants associated/registered with the Payworld money wallet. Payworld money wallet represents the payment instrument used for the above purposes and does not represent sale, resale, or license of any of the products or the services, and Payworld money disclaims any responsibility for or liability related to them.
General Conditions of Payworld money Wallet
a) Payworld money Wallet will be issued only to resident Indians who have attained the age of 18 years, are
Competent to contract and are not a person barred from purchasing or receiving the wallet services under the applicable law.
b) The maximum monetary value that can be stored at any point of time in a Payworld money wallet is INR
1,00,000/-(INR One lakh only). The maximum permitted value of transactions at any point of time in Payworld money Wallet is INR 1,00,000/- (INR One lakh only).
Payworld money facilitates following types of wallets depending on the level of KYC:
||Monetary Value of the Payworld money
||Upto Rs. 10,000
||By accepting minimum Details mostly mobile number, name & a valid ID proof no.
||Total amount of reloads during any given month should not exceed Rs. 10,000 & in a year Rs .100,000
||Upto Rs. 1,00,000
||Reloadable in nature
c) Any duplication/cloning of an Payworld money wallet will be subject to cancellation and necessary legal action, if required, by Payworld money.
d) Amount loaded in an Payworld money Wallet, being a semi-closed wallet, in no case will be refunded to any Customer for any reason whatsoever. Payworld money shall not be liable/ responsible for any defect in the product/merchandise/goods purchased through third parties using the Payworld money Wallet. Payworld money will only assist on service failures of recharges and bill payments availed on Payworld money Wallet.
e) You understand and agree that your Payworld money Wallet account is linked to your registered mobile number. Payworld money will not be held liable for unauthorized use of Payworld money Wallet on account of loss/theft/misplacement of mobile number and/or SIM, unless you have informed Payworld money about such loss/theft/misplacement and have blocked Payworld money Wallet temporarily till you reactivate the same using a new SIM with same mobile number.
f) Payworld money may deal with or amend the Payworld money Wallet in compliance with any direction of any competent authority, laws, order or court with or without intimation to the wallet holder.
g) Your correspondence or related activities with third parties, including payment transactions and goods-delivery transactions, are solely between you and that third party. You agree that Payworld money will not be responsible or liable for any loss or damage of any sort incurred as the result of any of your transactions with third parties. Any questions, complaints, or claims related to any third party product or service should be directed to the appropriate vendor.
h) Payworld money reserves the right, at its sole discretion, to change, modify, add or remove portions of these T&C’s, at any time. It is your responsibility to keep yourself updated and to check them periodically for any new changes or modifications. Your continued use of Payworld money Wallet shall mean that you accept and agree to the changes and modifications so made.
i) You are permitted to maintain and operate only one Payworld 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 Payworld money.
j) Payworld money Wallet is available for use in India only and cannot be used for cross-border transactions.
k) You must ensure the availability of sufficient funds before executing any transaction from your Payworld money wallet.
l) You may note that withdrawing money from Payworld money wallet is not allowed. Any outstanding credit
Payworld money Wallet must be utilized only to make online payments or for money transfer.
m) Payworld money Wallet are non-transferable.
n) In the event of any dispute, Payworld money records shall be binding as the conclusive evidence of the transactions carried out through use of Payworld money Wallet.
o) Payworld money 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.
p) You agree to receive all commercial message including transactional messages from Payworld money.
q) Any web-link on the Website to a third party site is not an endorsement of that web-link. By using or browsing any such other web-link, you shall be subject to the terms and conditions in each such web-link.
r) Any amount transferred erroneously using the Payworld money Wallet by you to any merchant or third person shall not be refunded to you by Payworld money in any circumstances.
To be able to use the Payworld money Wallet, you will have to get yourself registered with Payworld money. You acknowledge and agree that you are solely responsible for the activity that occurs from your Payworld money Wallet account, whether authorized by you or not, and you must keep your Wallet information secure and confidential, including without limitation your User number/login, password, payment method(s), and PIN/OTP (if any). You agree, inter alia, to: (i) provide true, accurate, current and complete information about yourself as prompted by the Payworld money’s registration form while registering (such information being the "R egistration Data" ); (ii) maintain and promptly update the Registration Data to keep it true, accurate, current and complete at all times; (iii) immediately notify us of any unauthorized use of your Wallet or any other breach of security.
You further agree that if you provide any information that is untrue, inaccurate, not current or incomplete or we have any reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with the these T&C’s, we shall have the right to indefinitely suspend or terminate or block access of your membership with Payworld money.
Payworld money Wallet shall have a minimum validity of 1 year from the date of last use . You will be intimated through SMS, e-mail/post or any other means, information to this effect in accordance with regulatory frame work prevailing and amended from time to time. In case of non- reloadable Payworld money Wallet, the transfer of outstanding amount at the expiry of the validity of the Wallet to a new similar Wallet purchased by the holder may be permitted at the sole discretion of Payworld money
Wallet Charges & Validity
You shall pay the service charges prescribed by Payworld money in the form and manner prescribed for such payment. Payworld money charges for Domestic Money Transfer are upto 2%. Payworld money may at its discretion, change, amend, increase, or reduce the service charges without prior intimation to you. Any value in your Payworld money Wallet that is utilized towards making payments for any transaction shall be automatically debited from your Payworld money Wallet. Payworld money’s responsibility is limited to the debiting of your Payworld money Wallet and the subsequent payment to any other third party merchant that you might transact with. Payworld money does not endorse, promote, or warrant any goods and/or services that might be bought/availed or proposed to be bought/availed using Payworld money Wallet. Payworld money reserves the right to levy charges/ charge commission upon any amounts loaded upon your Payworld money Wallet or any amounts spent/utilized by you using Payworld money Wallet. Payworld money reserves the right to set off any balance in your Wallet in order to recover funds for transactions processed as per your request.
Redemption and Forfeiture
a. Any value in your Payworld money Wallet which is not utilized in the aforesaid manner may stand forfeited at the discretion of Payworld money. Payworld money reserves the right to forfeit the amount post adherence to the following communication process:
i. Payworld money will send 30 days advance communication for outstanding amount in Payworld money Wallet by SMS
at the mobile number on which Services have been activated.
ii. In case no response is received from you, second reminder will be sent to the Customer to respond within next 15 days
iii. In case no response is received on the second reminder, third reminder will sent to you to respond within next 7 days.
iv. Again if no response is received on the third reminder, amount will be tagged in the system as
Forfeited & customer can claim the amount upto 3 years form the date of forfeited .
Suspension of Services
Payworld money reserves the right to suspend/discontinue Payworld money Wallet services to you at any time, 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), documentation or Enrolment Form 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 the mobile connection with which your Payworld money Wallet is related ceases to be operational or in your possession or control.
g. If Payworld money believes, in its reasonable opinion, that cessation/ suspension is necessary.
Disclaimer of Warranties
PAYWORLD MONEY WALLET, INCLUDING ALL CONTENT, FUNCTIONS, MATERIALS, AND INFORMATION MADE AVAILABLE ON, PROVIDED IN CONNECTION WITH OR ACCESSIBLE THROUGH THE PAYWORLD MONEY WALLET SERVICE, IS PROVIDED "AS IS." TO THE FULLEST EXTENT PERMISSIBLE BY LAW, PAYWORLD MONEY MAKES NO REPRESENTATION OR SERVICE, CONTENT, MATERIALS, INFORMATION AND FUNCTIONS MADE ACCESSIBLE BY THE SOFTWARE USED ON OR ACCESSED THROUGH THE WALLET SERVICE, OR FOR ANY BREACH OF SECURITY ASSOCIATED WITH THE TRANSMISSION OF SENSITIVE INFORMATION THROUGH THE SERVICE. PAYWORLD MONEY DISCLAIMS WITHOUT LIMITATION, ANY WARRANTY OF ANY KIND WITH RESPECT TO THE PAYWORLD MONEY WALLET SERVICES, NON-INFRINGEMENT, MERCHANTABILITY, OR FITNESS OF WALLET FOR A PARTICULAR PURPOSE. PAYWORLD MONEY DO NOT WARRANT THE PAYWORLD MONEY WALLET SERVICES WILL BE UNINTERRUPTED OR ERROR FREE. PAYWORLD 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.
Limitation Of Liability
IN NO EVENT SHALL PAYWORLD MONEY BE LIABLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT OR
CONSEQUENTIAL DAMAGES OF ANY KIND IN CONNECTION WITH THESE T&C’s INCLUDING BUT NOT LIMITED TO, DAMAGES FOR LOSS OF PROFITS, GOODWILL, USE, DATA OR OTHER INTANGIBLE LOSSES ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF PAYWORLD MONEY WALLET, EVEN IF PAYWORLD MONEY HAS BEEN INFORMED IN ADVANCE OF THE POSSIBILITY OF SUCH DAMAGES INCLUDING BREACH OF CONTRACT OR WARRANTY, NEGLIGENCE OR OTHER TORTIOUS ACTION, OR ANY OTHER CLAIM ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF SERVICES.
You agree to indemnify, save, and hold Payworld money, its affiliates, contractors, employees, officers,
directors, agents and its third party suppliers, licensors, and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to your use or misuse of the Payworld money Wallet Services, any violation by you of these T&C’s, or any breach of the representations, warranties, and covenants made by you herein. Payworld money reserves the right, at your expense, to assume the exclusive defense and control of any matter for which you are required to indemnify Payworld money, including rights to settle, and you agree to cooperate with Payworld money’s defense and settlement of these claims. Payworld money will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it.
Intellectual Property Rights
We, or our licensors, own all right, title and interest, including, but not limited to all copyright,
trademark, patent, trade secret or other proprietary rights (“Intellectual Property Rights”), in and to Website and the Payworld money Wallet. You shall not reproduce, distribute, transmit, modify, create derivative works, display, perform or otherwise use any of the Intellectual Property Rights, or attempt to reverse engineer, decompile, disassemble the said rights to create a competing product.
You have the right to register your complaint if you are not satisfied with the services or finds attitudinal deficiencies when dealing with agents/staff/service providers or finds system errors or
sees gaps between standards of service promised and actual service rendered by Payworld money. You can lodge a complaint by sending email to email@example.com
Force Majeure: We shall not be liable for failure or delay in performing our obligations under these T&C’s if such failure or delay is due to circumstances beyond our reasonable control, including, without limitation, acts of any governmental body, war, insurrection, sabotage, embargo, terrorist or other attack, fire, flood, strike or other labor disturbance, interruption of or delay in transportation, unavailability of or interruption or delay in telecommunications or third party services, failure of third party software or inability to obtain raw materials, supplies, or power used in or equipment needed for provision of the services.
Governing Law and Jurisdiction: These T&C’s shall be interpreted and construed according to, and governed by the laws of India. All disputes arising under this Agreement or any other agreement in relation to Services are subjected to the exclusive jurisdiction of courts at India.
Entire Agreement: These T&C’s inclusive of all such conditions and policies that are incorporated into these T&C’s by reference, set forth the entire understanding and agreement between you and Payworld money with respect to the subject matter hereof.