These terms and conditions governing use of the Website (as defined below) and the Services (as defined below) is divided into 2 (two) parts. Part A contains the general terms and conditions which govern use of the Website offered by Open (as defined below). Part B contains terms and conditions that are specific to each of the individual Services. The general terms and conditions as provided under Part A shall be read and understood in conjunction with the Services-specific terms and conditions as provided under Part B (“Services Specific Terms”) to the extent such Services are availed by the User (as defined below).



(General Terms & Conditions)


These general terms and conditions (“Terms”) govern the User’s access of the weblink and the mobile application by the name of “Open” (“Website”), and use of the Services (as defined below) provided to the User (as defined below) by Open Financial Technologies Private Limited (“Open”, “Company”, “We”, “Our” and “Us” as the context may require), including content, updates and new releases, and services provided by Service Providers (as defined below). These Terms shall be read in conjunction with:

  1. The privacy policy governing the use of the Website or provided to the User in any other manner or form. The Privacy policy of Open is currently available at (“Privacy Policy”).

  3. Additional terms and conditions stipulated by third-parties whom Open has partnered with, to provide the Services to the User.


  1. Definitions


    For the purpose of these Terms and the Services Specific Terms, the following words and phrases shall have the meaning assigned to them under this Article.

    1. Bank


      Means and includes any bank or financial institution which Open has partnered with, towards offering the Services.

    2. Business Days


      means any day in which banks are open for business in Mumbai, India New Delhi, India and Bangalore, India.

    3. Service(s)


      means and includes services as collectively provided by Open pertaining to the following Products (collectively referred to as the “Services”): 

      • Integrated Payment Gateway;

      • Open Pay Account;

      • Visa co-branded spend cards;

      • Automated Accounting;

      • Multi-Account Connect and Automated Accounting;

      • Wealth management services;

      • Quick Response codes (“QR Codes”)

      • App Store - Marketplace;

      • App Store – Loyalty Programs;

      • App Store – Lending;

      • App Store – Payroll Management; and

      • Any other product/service offered by Open, from time to time.

    4. Service Provider


      means a bank, association, company, partnership or any such facility provider whose facilities or services are utilized in the provision of these Services to Users through the Website.

    5. User


      shall mean any person who is boarded on the Company’s platform using the Website, who transacts or avails of the Services through this Website. The same shall also cover such personnel of any User who are authorized to avail of the Services on behalf of the user with full rights or limited rights login.

    6. Know Your Customer (“KYC”)


      shall mean the various norms, rules, laws and statutes issued by the Reserve Bank of India (“RBI”) from time to time under which Open is required to procure personal identification details from the User before any Services can be delivered.

  2. Business Current Account by Open


    A business current account powered by the Bank and created by an Open customer/User for executing any kind of online payment transactions, opened afresh through the Open platform or by connecting the User’s bank account through the Open platform. The terms governing the current account and various related banking facilities shall be as detailed on the concerned Bank’s website.

  3. Eligibility


    Use of the Services hereunder shall be available only to persons who can enter into legally binding contracts under Indian Contract Act, 1872. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents etc. shall not be eligible to use the Services.

    The User represents and warrants that they are at least 18 years old and all information submitted is true, accurate and complete while registering the account on the Service. If the User is a minor i.e. under the age of 18 years, they shall not register as a User of the Services and shall not transact on it.

  4. Registration


    In order to avail the Services, the User must be registered with Company and the Service Providers (as applicable), including any Bank for the purpose of availing a Business Current Account. The User shall provide the Company and the Service Providers (as applicable) with all such documents as may be required for complying with the KYC norms as per applicable law.

    By registering with the Company’s platform on the Website, the User agrees to provide true, accurate, current and complete information, failing which, the Company may at any time reject the User's registration and terminate his right to use or access the Website and/or Services. When the User registers with the Company’s platform, a User account will be created, that is associated with User's username, password and other identifying information. The User shall be responsible for anything that happens through its User’s account.   

    Based on the Services availed, and the plan selected, applicable fees shall be charged and any additional terms which specifically govern such Service shall become binding on such User.

    The Company reserves the right to change the fee policy applicable to such paid registration. Changes to the fee policy will be posted on the Website and such changes shall become effective immediately after they are posted on the Website.

  5. Access


    The User shall be responsible for maintaining the confidentiality of the username, password and any other information pertaining to the account for restricting and preventing unauthorized access to the account. The User shall be solely responsible for all activities that occur under the User’s account.

    The User can access and update account details on the Website. Further, the User shall ensure that the account details provided and/or updated are correct and complete at all times. Open reserves the right to refuse access to the Services, terminate accounts, remove or edit content at any time without notice to the User concerned.

    Open will endeavor to ensure that access to and availability of the Services remains uninterrupted and error free. However, access to the application may occasionally be suspended or restricted to allow for repairs, maintenance, or for the introduction of new facilities and Services and in such cases Open shall not be liable for any disruption of any Services.

  6. Obligations and Rights



    • The User shall not carry out any activity, which is banned, illegal or immoral.

    • The User shall not use the Services in any manner or in furtherance of any activity, which constitutes a violation of any law or regulation, or which may cause Open to be subject to investigation, prosecution or legal action, including trading in contraband items or providing services or activities online prohibited by applicable laws.

    • The User shall act in compliance with all laws, rules and regulations and shall at all times comply with the guidelines set by any and all Service Providers.

    • The User shall not sell, provide, exchange, or otherwise disclose to third parties or use themselves (other than for the purpose of completing a transaction, or as specifically required by law) any personal information about any third party, including the account details and mobile number, without obtaining the prior written consent of such third party.

    • The User shall take all precautions as may be feasible or as may be directed by Open to ensure that there is no breach of security and that the integrity of the link between their systems, the Website and the payment mechanism is maintained at all times. In the event of any loss being caused as a result of the link being breached or as a consequence of the link being improper or being in violation of the provisions of this clause, the loss shall be to the account of the User and the User shall indemnify and keep Open and the Service Providers indemnified from any loss as may be caused in this regard.

    • The User shall bear and be responsible for the payment of all relevant taxes (including any applicable withholding taxes) as may be due.

    • A User shall inform Open of any change in its email address, mobile number, address, ownership or legal status or his cessation of business in writing at least 30 (thirty) Business Days in advance of such change.




    • Open shall comply with all provisions regarding protection of the User’s funds as set out by the RBI through its banking partnership agreements. However, it is also clarified that all Business Current Account funds are the sole responsibility of the Bank and shall be governed by the related guidelines of the Bank and RBI.

    • Funds in the Business Current Account do not expire, and no interest is paid on the funds. Funds in the business current account shall belong to the holder, subject to applicable Bank charges.

    • Open has the right to conduct inspections, audits and/or impose additional conditions or restrictions relating to the User’s account including establishing a reasonable reserve amount to cover potential chargebacks and related fees and sanctions.

    • The User acknowledges and agrees that the specific transaction risks shall be governed by the terms and conditions between the User and the Service Provider.

    • Open shall be responsible for Services directly provided to the User and these Terms shall govern delivery and completion of the Services.

    • Open does not provide any banking services regulated by the RBI.

  7. Security


    Subject to the provisions stated herein and as specified by Open from time to time, the User will not hold Open liable in case of any improper/ fraudulent/unauthorized/ duplicate/erroneous use of his mobile and/or the web-based access. Open will also not be liable for any consequences connected with the use/ misuse of User's mobile/ e-mail account by any third party. If any third parties gain access to the Services, the User will be responsible and shall indemnify Open against any liability, costs or damages arising out of such misuse / use by third parties based upon or relating to such access and use, or otherwise.

    The User shall be fully and solely liable for: (a) any unauthorised use of his mobile/ email account; and/or (b) all authorised transactions on his mobile/email account.

  8. Use The Services at Your Own Risk


    We reserve the right to refuse any Service to anyone for any reason at any time. The User understands that its content (not including credit card information), may be transferred unencrypted and involve (a) transmissions over various networks; and (b) changes to conform and adapt to technical requirements of connecting networks or devices. Credit card information is always encrypted during transfer over networks.

    The User agrees not to reproduce, duplicate, copy, sell, resell or exploit any portion of the Services, use of the Services, or access to the Services or any contact on the Website through which the Service is provided, without express written permission by Us. 

  9. Complaints


    If we receive a complaint from any person against the User with respect to the User’s activities as part of use of the Services, Open will forward the complaint to the primary email address of the User’s account. The User must respond to the complainant directly within 7 (seven) days] of receiving the complaint as forwarded by Open and copy Open in the communication. If the User does not respond to the complainant within 7 (seven) days] from the date of Open’s email to the User, we may at our sole discretion opt to disclose the User’s name and contact information to the complainant for enabling the complainant to take legal action against the User. The User understands that its failure to respond to the forwarded complaint within the 7 (seven) days’ time limit will be construed as the User’s consent to disclosure of the User’s name and contact information by Open to the complainant.

  10. Inactive User Policy


    Open reserves the right to suspend or terminate User accounts that are inactive for a continuous period of 120 days. In the event of such termination, all data associated with such User account will be deleted. We will provide the User prior notice of such termination and option to back-up the User’s data. The data deletion policy may be implemented with respect to any or all of the Services.

  11. Data Ownership


    We respect the User’s right to ownership of content created or stored by them. The User owns the content created or stored by them. Unless specifically permitted by the User, the use of the Services does not grant Open the license to use, reproduce, adapt, modify, publish or distribute the content created and/or stored in the User account for Open’s commercial, marketing or any similar purpose. But the User grants Open permission to access, copy, distribute, store, transmit, reformat, publicly display and publicly perform the content of the User account solely as required for the purpose of providing the Services.

  12. User Generated Content


    The User may transmit or publish content created by using any of the Services or otherwise. However, the User shall be solely responsible for such content and the consequences of its transmission or publication. Any content made public will be publicly accessible through the internet and may be crawled and indexed by search engines. The User(s) is/are responsible for ensuring that the private content is not accidentally made publicly available. Any content that the User may receive from other Users of the Services, is provided to the User ‘AS IS’ for their information and personal use only and thus agree not to use, copy, reproduce, distribute, transmit, broadcast, display, sell, license or otherwise exploit such content for any purpose, without the express written consent of the person who owns the rights to such content. In the course of using any of the Services, if the User comes across any content with copyright notice(s) or any copy protection feature(s), User agree not to remove such copyright notice(s) or disable such copy protection feature(s) as the case may be. By making any copyrighted/copyrightable content available on any of the Services, the User affirms that the User has the consented, authorized or provided permissions, as the case may be from every person who may claim any rights in such content to make such content available in such manner. Further, by making any content available in the manner aforementioned, the User expressly agrees that Open will have the right to block access to or remove such content made available by such User if Open receives complaints concerning any illegality or infringement of third party rights in such content. By using any of the Services and transmitting or publishing any content using such Service, the User expressly consents to determination of questions of illegality or infringement of third party rights in such content by the agent designated by Open for this purpose.

  13. Sample Files and Applications


    Open may provide sample files and applications for the purpose of demonstrating the possibility of using the Services effectively for specific purposes. The information contained in any such sample files and applications consists of random data. Open makes no warranty, either express or implied, as to the accuracy, usefulness, completeness or reliability of the information or the sample files and applications.

  14. Accuracy


    We are not responsible if information made available on the Website is not accurate, complete or correct. The material on the Website is provided for general information only and should not be relied upon or used as the sole basis for making decisions without consulting primary, more accurate, more complete or more timely sources of information. Any reliance on the material on the Website is at the User’s own risk. The Website may contain certain historical information. Historical information, necessarily, is not current and is provided for the User’s reference only. We reserve the right to modify the contents of the Website at any time, but we have no obligation to update any information on Our Website. The User agrees that it is the User’s responsibility to monitor changes on Our Website.

  15. Trademarks


    Open, Open logo, the names of individual Service(s) and their logos are trademarks of Open Financial Technologies Private Limited. The User agrees not to display or use, in any manner, the Open trademarks, without Open’s prior permission.

  16. Disclaimer of Warranties


    The User expressly understands and agrees that the use of the Services is at their sole risk. The Services are provided on an as-is-and-as-available basis. Open expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability and fitness for a particular purpose. Open makes no warranty that the Services will be uninterrupted, timely, secure, or error free. Use of any material downloaded or obtained through the use of the Services shall be at the User’s own discretion and risk and they will be solely responsible for any damage to their computer system, mobile telephone, wireless device or data that results from the use of the services or the download of any such material. No advice or information, whether written or oral, has been or will be obtained by the User from Open, its employees or representatives shall not create any warranty not expressly stated in these terms.

  17. Cookies


    We employ the use of cookies. By using Our Website, the User consents to the use of cookies in accordance with Our Privacy Policy (as available at

    Most interactive websites use cookies to enable retrieval of user’s details for each visit. Cookies are used in some areas of Our site to enable the functionality of this area and ease of use for those people visiting. Some of Our affiliate/advertising partners may also use cookies.

  18. Arbitration


    Any controversy or claim arising out of or relating to the Terms shall be settled by binding arbitration in accordance with the Arbitration and Conciliation (Amendment) Act, 2019 and the rules of the Conciliation and Arbitration Centre, Bangalore. The seat of arbitration shall be at Bangalore.

  19. Suspension and Termination


    In the event that User breaches these Terms or in the event that any other user or a third party reports violation of any of its rights as a result of the User’s use of the Services, Open reserves the right, to suspend or terminate such User’s access to any or all of the Services with or without notice, and to exercise any other remedy available under applicable law. Separate suspension and termination provisions will be applicable to each of the Services as per Services Specific Terms (as applicable).

    Open shall have the right to indefinitely suspend or block access to the User’s account on the application and/or Website and refuse to provide the User access to the application and/or Website if:


    • If the User engages in or is suspected of engaging in any illegal, fraudulent or abusive activity; or

    • If the User provides any information that is untrue, inaccurate, not current or incomplete in any respect or Open has reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with these Terms.

  20. Indemnity


    The User shall keep the Company indemnified from and against any and all liability (including but not limited to liabilities, judgments, damages, losses, claims, costs and expenses,) or any other loss that may occur, arising from or relating to any claim, suit or proceeding brought against the Company by another User/ Service Provider/ third party for reasons including, but not limited (i) a breach, non-performance, non-compliance or inadequate performance by the User of any of the terms, conditions, representations, obligations or warranties made by him; (iii) any acts, errors, misrepresentations, willful misconduct or negligence of the User, or his employees, subcontractors and agents in performance of their obligations under these Terms.

    The User shall comply with all such terms and conditions as the Company or any Service Provider may prescribe from time to time with regard to the Services.

  21. Confidentiality


    The User agrees not to disclose or attempt to use or personally benefit from any non-public information that he may learn on the Website or through the Services. This obligation shall continue until such time as the non-public information has become publicly known through any action of the User. If the User is compelled by order of a court or other governmental or legal body (or have notice that such an order is being sought) to divulge any such non-public information, the User agrees to promptly and diligently notify Open and cooperate fully with Open in protecting such information to the extent possible under applicable law.

    Open may access, preserve and disclose any of User’s information if required to do so by law, or if we believe in good faith that it is reasonably necessary to (i) respond to claims asserted against Open or to comply with legal process, (ii) for fraud prevention, risk assessment, investigation, User support, product development and de-bugging purposes, or (iii) protect the rights, property or safety of Open, its Users or members of the public.

  22. Limitation of Liability


    The User acknowledges and agrees that, to the maximum extent permitted by law, the entire risk arising out of the User’s access of and use of the Website and Services, remains with themselves. Neither Open nor any Service Provider involved in providing or delivering the Services will be liable for any direct, incidental, special, exemplary or consequential damages, including lost profits, loss of data or loss of goodwill, service interruption, loss of monies pursuant to any of the Services, computer damage or system failure or the cost of substitute services, or in connection with these terms, as a result of the User’s use of the Website or Services, whether based on warranty, contract, tort (including negligence), product liability or any other legal theory, and whether or not Open has been informed of the possibility of such damage, even if a limited remedy set forth herein is found to have failed of its essential purpose. A separate limitation over liability shall be applicable to each of the Services.

  23. Miscellaneous Terms


    • Open may, if required by law, change any fee or charge or institute new fees or charges. The User agrees to pay all fees and charges so levied provided there is an intimation of the fees prior to the change.

    • Open shall not make any refunds of any amounts other than as agreed by these Terms.

    • Open reserves the right to vary any of the general Terms and/or Service Specific Terms contained herein by posting the revised terms on Open's Website without notice to the User.

    • The User hereby accepts that he may, from time to time, receive from Open or its affiliates, communications such as service announcements, advertisements or administrative communications.

    • All information provided by the User to Open shall be accurate, current and complete. User shall be solely responsible for the accuracy and correctness of all information provided by him. Open shall not be liable for any loss or costs incurred by any party due to any incorrect or mistaken information provided by User.

    • Open shall not be liable for any direct, indirect, punitive, incidental, exemplary, special or consequential damages or any loss of profit, business, revenue, goodwill or anticipated savings or any damages whatsoever arising out of or in any way connected with the use of the Website and/or Service(s) by the User or otherwise.

    • Neither Open nor any Service Provider shall in any event be liable to the User or any third party for any loss or damage whatsoever or howsoever caused arising directly or indirectly in connection with the Website and Services.

    • In no event shall Open nor a Service Provider be liable to a User or any other third party for any applicable taxes and government levies.

    • Any link on the Website to a third-party site is not an endorsement of that website. The use or browsing by a User of any other website shall be subject to the terms and conditions specified in or by each such website.

    • Open shall not be liable for any unauthorized access to the User's data or any unauthorized transmissions sent through the Services.

    • The User shall not (whether on-line or otherwise): describe itself as agent or representative of Open or make any representations to any User or any third party or give any warranties which may require Open or Service Provider to undertake to or be liable for, whether directly or indirectly, any obligation and/or responsibility to User or any third party.

    • Open shall not be liable for any breach of these general Terms and/or Service Specific Terms due to any force-majeure event such as act of god, fire, lightning, explosion, flood, inclement weather conditions, power failures, failure in any communication systems, equipment breakdown, strikes, lock-out or any other cause beyond the control of Open.

    • If any part of these Terms is determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, the warranty disclaimers and liability limitations set forth herein, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of the Terms shall continue in effect.

  24. Third-Party Links


    The Services contain, or may contain, links to third-party websites, applications, services and resources that are not under Our control and do not form a part of the Services. We provide these links only as a convenience to the User, the Company makes no representation or warranty of any kind regarding the accuracy, reliability, effectiveness, or correctness of any aspect of any third-party services, and consequently, the Company is not responsible for the content, products or services that are available from third-party services. The User is responsible for reading and understanding the terms and conditions and privacy policy that applies to the User’s use of any third-party services, and the User acknowledge sole responsibility and assume all risk arising from User’s use of any third-party services.

  25. Communication Policy


    The User agrees to receive alerts and notifications. As part of User’s use of the Services, User may receive notifications, offers, discounts and general information via text messages, or by emails for the purpose of collecting feedback regarding User’s services. The User agrees to the receipt of these communications. The User can control receipt of non-service related communications from User’s account settings or by sending mail to [email protected] The User acknowledges that the SMS service provided by Open is an additional facility provided for the User’s convenience and that it may be susceptible to error, omission and/ or inaccuracy. In the event the User observes any error in the information provided in the alert, Open shall be immediately informed about the same by the User and Open will make best possible efforts to rectify the error as early as possible. The User shall not hold Open liable for any loss, damages, claim, expense including legal cost that may be incurred/ suffered by the User on account of such facility.

  26. Taxes and Customs


    If User’s use of the Services is subject to any type of use or sales tax, duty or other governmental tax or levy, then we may charge the User for those taxes. The User is responsible for any taxes or duty or customs due with respect to the User’s use or receive the Services.

  27. Changes to the Services


    We may change or discontinue, temporarily or permanently, any feature or component of the Services at any time without prior notice to the User. We are not liable to the User or to any third party for any modification, suspension or discontinuance of any feature or component of the Services. We reserve the right to determine the timing and content of software updates, which may be automatically downloaded and installed by an application without prior notice to the User anytime.

  28. Termination


    In the event that any User (“Breaching Party”) breaches these Terms or any Service Specific Terms or in the event that any other User or a third party reports violation of any of its rights as a result of the Breaching Party’s use of the Services, Open reserves the right, to suspend or terminate such Breaching Party’s access to the Services with or without notice to such Breaching Party, and to exercise any other remedy available under the law. 

    Open shall have the right to indefinitely suspend or block access to such Breaching Party’s account on the application and/or Website and refuse to provide the Breaching Party access to the application and/or Website if:

    • If such User engages in or is suspected of engaging in any illegal, fraudulent or abusive activity; or

    • If such User provides any information that is untrue, inaccurate, not current or incomplete in any respect or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with the Terms.

  29. Governing Law and Jurisdiction


    These Terms and any separate agreements whereby We provide the Services to the User, shall be governed by and construed in accordance with the laws of India. Courts in Mumbai shall have the sole jurisdiction in relation to the use of the Website, the Services, the Terms and Services Specific Terms.











(Service Specific Terms & Conditions)




    These terms and conditions (“Gateway Terms”) regulate the use of the “Integrated Payment Gateway” (hereinafter referred to as “Integrated Gateway”) offered by Us as one of the Services. By proceeding to use the Integrated Gateway, the User also signifies its consent to be bound by the Gateway Terms in addition to agreeing to the Terms (set out under Part A and located at and Privacy Policy hosted at: (

  1. Definitions:


    For the purpose of these Gateway Terms:

    Acquiring Bank” shall mean any bank which receives funds as sent by the User to the Customer.

    Customer” shall mean any individual and/or entity which transacts with the User resulting in transference of funds.

    Card Payment Network” shall mean the network as managed by VISA/MasterCard/AMEX or any other card provider in order to facilitate transactions as done using cards issued by each respectively.

    Gateway Nodal Account” shall mean a nodal account opened with the partner Bank as required under applicable law.

  2. Authorization:


    By accepting these Terms, the User authorises Us to hold, receive, disburse and settle funds on, the User’s behalf. The User authorisation permits Us to generate an electronic funds transfer between the payment system providers and Our Gateway Nodal Account to process each payment transaction that the User authorises.

    Thereafter, the User authorises Us to transfer the payments received from the User’s Customer’s to the bank account designated by the User for this purpose at the time of registration. The User’s authorisation will remain in full force and effect until the User’s account is closed or terminated in accordance with the provisions contained hereunder.

  3. Card Association Rules


    Card Payment Network Rules” refer to the written rules, regulations, releases, guidelines, processes, interpretations and other requirements (whether contractual or otherwise) imposed and adopted by the Card Payment Network. The Card Payment Networks have infrastructure and processes to enable transaction authorisation. The Card Payment Network requires the User to comply with all applicable guidelines, rules, and regulations formulated by them.

    The Card Payment Network reserves the right to amend their guidelines, rules and regulations. We may be required to amend modify or change these terms of use pursuant to amendments to the Card Payment Network Rules and such amendments, if any, shall be deemed to be binding on the Users with immediate effect.

    The User agrees to fully comply with all programs, guidelines, requirements that may be published and/ or mandated by the Card Payment Network. Notwithstanding our assistance in understanding the Card Payment Network Rules, the User expressly acknowledges and agrees that, the User is assuming the risk of compliance with all provisions of the Card Payment Network Rules, regardless of whether the User is aware of or have access to those provisions. MasterCard, Visa and American Express make excerpts of their respective rules available on their internet sites.

    In the event that, the User’s non-compliance of Card Payment Network Rules, results in any fines, penalties or other amounts being levied on or demanded of Us by a Card Payment Network, then without prejudice to Our other rights hereunder, the User  shall forthwith reimburse Us in an amount equal to the fines, penalties or other amount so levied or demanded or spent by Us in any manner in relation to such fines, penalties and levies. If the User fails to comply with, the User’s obligations towards the Card Payment Network, We may suspend settlement or suspend/terminate the Services forthwith.

  4. Settlement


    In consideration of these Services rendered by Us, the User shall pay Us a fee (“Fee”). We reserve the right to revise the Fee periodically and We will intimate the User of any such change within a reasonable time. On receipt of the payments in the Gateway Nodal Account, We will endeavour to instruct the partner Bank to transmit the payments payable to the Customer, after deducting Our Fee, from the Gateway Nodal Account to the Customer's designated bank account, within 3 (three) Business Days (or such other period as may be prescribed by the RBI from time to time) from completion of transaction. Subject to any other provisions of the general Terms and/or the Gateway Terms and completion of transaction, the User acknowledges that We will settle the payments only upon actual receipt of payments in the Gateway Nodal Account and upon reconciliation of the payments by the Acquiring Banks, Our payment gateway and the partner Bank. The User will bear and be responsible and liable for the payment of all relevant taxes in relation to the payments made under these terms.

    Users receive the amount (minus Our Fee) in their designated bank account within T+3 days where ‘T’ is defined as the date of intimation of the completion of the transaction.

    Once a payment is authenticated by payment service providers, the funds are moved to Our Gateway Nodal Account and the first settlement is initiated only after all required documents (in hard copies) are received by Us.

    All risks associated with any delivery will be solely that of the User and not Us. Also, all disputes regarding quality, merchantability, non-delivery, delay in delivery or otherwise will be directly between the User and the Customer without making Us and/ or the payment service providers, a party to such disputes.

  5. Prohibited Services


    The User agrees that the User will not accept payments in connection with the following businesses, business activities or business practices:


    1. embassies, foreign consulates or other foreign governments;
    2. door-to-door sales;
    3. offering substantial rebates or special incentives to the cardholder subsequent to the original purchase;
    4. negative response marketing;
    5. engaging in deceptive marketing practices;
    6. evading card network's chargeback monitoring programs;
    7. engaging in any form of licensed or unlicensed aggregation or factoring;
    8. age restricted products or services;
    9. bail bonds;
    10. bankruptcy lawyers;
    11. bidding fee auctions;
    12. collection agencies;
    13. chain letters;
    14. cheque cashing, wire transfers or money orders;
    15. counterfeit goods (e.g. knock-offs, imitations, bootlegs);
    16. currency exchanges or dealers;
    17. firms selling business opportunities, investment opportunities, mortgage consulting or reduction, credit counselling, repair or protection or real estate purchases with no money down;
    18. credit card and identity theft protection;
    19. cruise lines;
    20. essay mills;
    21. flea markets (firms/ individuals operating from a booth, on a part time basis with no lease or telephone availability; whether indoor or outdoor);
    22. drug paraphernalia;
    23. extended warranties;
    24. fortune tellers;
    25. "get rich quick" schemes;
    26. gambling (including but not limited to lotteries, internet gaming, contests, sweepstakes, or offering of prizes as an inducement to purchase goods or services);
    27. sports forecasting or odds making;
    28. illegal products or services;
    29. mail-order brides;
    30. marijuana dispensaries and related businesses;
    31. money transmitters or money service businesses;
    32. multi-level marketing or pyramid schemes;
    33. online, mail, or telephone order pharmacies or pharmacy referral services;
    34. prepaid phone cards, phone services or cell phones;
    35. pseudo pharmaceuticals;
    36. quasi-cash or stored value;
    37. securities brokers;
    38. sexually-oriented or pornographic products or services;
    39. shipping or forwarding brokers;
    40. substances designed to mimic illegal drugs;
    41. telemarketing;
    42. timeshares;
    43. online, mail, or telephone order tobacco or e-cigarette sales;
    44. weapons and ammunitions;
    45. virtual currency or credits that can be monetized, re-sold or converted to physical or digital goods or services or otherwise exit the virtual world; or
    46. products/services intended to inflict or promote revenge, harassment, and other forms of abuse, humiliation and intimidation;

  7. Transaction Disputes


    Transactions may be disputed at any time up to 120 (one hundred twenty) days, from the date of transaction by the buyers as per the Card Payment Network Rules. Disputes resolved in favour of the Customers may result in reversal of payments to the Customers (“Chargeback”). In the event of rejection/ suspension of payments to the User, chargebacks, refunds and/or any other dispute relating to the transactions contemplated under these terms ("Disputed Transaction"), on any grounds whatsoever, We will forthwith notify the User of the same.

    On such notification the User will conduct an internal review of such matter and will, within 5 (five) Business Days from receipt of notification, revert to Us in writing either:

    1. requesting Us to refund ("Refund Request") the payment received by the Customer in respect of such Disputed Transaction ("Refund Monies"); or
    2. providing Us with a statement explaining how the Disputed Transaction is not warranted, together with all documentary evidence in support of contesting such Disputed Transaction.

    In the event that the User provides a Refund Request to Us or fails to contest such Disputed Transaction within the aforesaid 5 (five) Business  Days or contests Disputed Transaction without providing supporting documentation to the satisfaction of Open, the concerned payment service provider, Card Payment Network and/ or issuing institution, We will be entitled to recover the Refund Monies from credits subsequently made to the Gateway Nodal Account with respect to payments made by the User's Customers.

    The User will be liable to make payment of the Refund Monies or part thereof which has not been returned by Us forthwith. It is hereby agreed and acknowledged by the Parties that the Fees charged by Us in respect of the Disputed Transaction will not be refunded or repaid by Us to the User, Customer or any other person. Further, the Chargeback will be provided within 1 (one) week of the transaction and maximum amount of the Chargeback payable by Us to the Customer will be the value of the transaction only.