PARTA: GENERALTERMS ANDCONDITIONS

This document/agreement/understanding is a computer-generated electronic record published in terms ofRule3oftheInformationTechnology(IntermediaryGuidelinesandDigitalMediaEthicsCode) Rules, 2021 (amended from time to time) read with InformationTechnologyAct, 2000 (amended from timetotime)anddoesnotrequireanyphysicalordigitalsignatures.

TheseTermsandConditions(“Terms”)constitutealegalagreementbetweenYouandRazorpaySoftware Private Limited (“Razorpay”or “us”, or “we”or “our””). The Terms, constituted of PartA: General TermsandConditionsandPartB:SpecificTermsandConditions,governYouraccesstoanduseofRazorpay services,includingpayments,technology,software,analyticsoranyotherservices,toolsorproductsoffered ormadeavailablebyRazorpayand/oritsAffiliates,and/ortheirFacilityProviders,(“Services”).TheServices maybeofferedormadeavailabletoYouviaourwebsite,mobileapplications,software,APIs,socialmedia, or other access channels (“Platform”). “You”, “Yours”, “Yourself”or “Merchant”refers to customers, who maybeanon-registeredindividualorcorporatebody,whoregisterfor,use,oraccessthePlatformor Services.TheServicesprovidedbyRazorpaythroughthePlatformareavailableandareappropriateonlyfor use in India.

PleasereadtheseTermscarefullybeforeaccessingthePlatformorusingtheServices.Byaccessingthe PlatformorusingtheServices,YouagreetobeboundbytheseTerms,includingourPrivacyPolicyandany otherpolicyapplicabletotheServicesreceivedviathePlatform.IfYoudonotagreetotheseTermsordonot wishtobeboundbytheseTerms,YoumustimmediatelyterminatetheuseoftheServices.Razorpayreserves therighttoamendorotherwisemodifytheTermsatanytimebypostinganupdatedversiononthewebsite. TheupdatedTermsshalltakeeffectimmediatelyuponposting.ItisYourresponsibilitytoreviewtheseTerms periodicallyforupdates/amendments.YourcontinuedaccessofthePlatformoruseoftheServicessignifies Yourassent/ratificationoftheupdatedormodifiedTerms.IfYouobjecttotheseTermsoranysubsequent modificationstotheseTermsinanyway,Youronlyrecourseistoimmediatelyterminatetheuseofthe Services.

WemayrequireYoutoagreetoadditionaltermsinconnectionwithspecificServices,providedeitherby RazorpayoritsAffiliates,thatYoumayavailfromtimetotime.Youagreetobeboundbysupplemental termsofanyspecificServicethatYouaccessoruseviaourPlatformand/orareavailablebyhyperlinkonour Platform.WemayaskYoutoagreetothosesupplementaltermsbywayof‘acceptance’.ShouldYouchoose toavailanyspecificService,Youmayberequiredtocompleteformsandprovideadditionaldata/information. Youherebygiveyourconsentforustostore,andusethedata/informationYouprovideonthePlatform during(i)theinitialsignup/registrationprocessand(ii)registrationoronboardingforanyspecificServicein future.YouherebyfurthergiveYourconsentforustopre-fillformsfortheregistrationoronboardingprocess ofanyspecificServicewithsuchdata/informationprovided.Youacknowledgeandagreethatwereservethe righttoverify,andre-verifywhereapplicable,thedata/informationYouprovideinrelationtoanyspecific Service.YourrighttoaccessanduseanyspecificServiceissubjecttosuccessfulcompletion,atoursole discretion,ofregistrationoronboardingprocessforthatspecificService.TotheextenttheseTermsare inconsistentwithanysupplementaltermsforaspecificService,thenthosespecifictermsshallprevailover theseTerms.YoufurtheragreethatanyclaimsrelatingtoanyspecificServicesshallbebroughtsolelyagainst theRazorpayAffiliateprovidingthespecificServices.

WhereYouintendtoavailonlineaswellasofflinepaymentaggregationservices,Youunderstandandagree thatonlineServiceswillbeprovidedbyRazorpaySoftwarePrivateLimitedandofflineServiceswillbe providedbyEzetapMobileSolutionsPrivateLimited(RazorpayPOS),anAffiliateofRazorpay.You acknowledgeandagreethattheprovisionofofflinepaymentaggregationservicesbyRazorpayPOSwillbe governedbyPartA:GeneralTermsandConditionsalongwithPartVII:SpecificTermsforOffline AggregationServicesandDevicesofPartB:SpecificTermsandConditionsenumeratedbelow.Forthe avoidanceofdoubt,thereferencetoRazorpayunderPartA:GeneralTermsandConditionsshallinclude Razorpay POS as well.

1.    PROPRIETARYRIGHTS

 

• We(andourlicensors,asapplicable)remainthesoleownerofallright,titleandinterestintheServices, includingthePlatformandthewebsiterazorpay.com(“website”),includinganyintellectualproperty rightswhichsubsistintheServices(whetherregisteredornot).RazorpaygrantsYouapersonal,non- exclusive,non-transferable,limitedrighttoaccessthePlatformandmakepersonaluseofthewebsiteandthe Services.Youshallnotremove,obscure,oralteranyproprietaryrightsnotices(includingtrademarkand copyrightnotices),whichmaybeaffixedtoorcontainedwithintheServices.Wereserveallrightsnot grantedundertheTerms.We(andourlicensors,asapplicable)retainsitsrightsinandtotrademarks,trade names,servicemarks,logos,domainnames,andotherdistinctivebrandfeatures(“marks”)ownedorusedby usinthecourseofourbusiness.Youdonothavetherighttouseanyofourmarkswithoutexplicitconsent fromus.Youshallnotdownload,copy,createaderivativework,modify,reverseengineer,reverseassemble, transmitorotherwiseattempttodiscoveranysourcecode,sell,assign,sub-license,grantasecurityinterestin orotherwisetransferanyrightintheServicesormarks.YoufurtheracknowledgeandagreethattheServices maycontaininformationthatisdesignatedconfidentialbyusandYoushallnotdisclosesuchinformation without our prior written consent.
• Yougrantaroyalty-free,non-exclusive,irrevocable,transferableandsub-licensablelicensetoRazorpay, itsAffiliatesandthirdpartyserviceproviders,touseYourdata,Yourcustomer’sdata,information,content, trademarks,logosandanyothermaterials/informationYouuploadormakeavailabletousoronthePlatform (“Yourmaterials”).YouagreethatRazorpaymayuseYourmaterialstooperateandimprovethePlatform, providetheServices,andfulfilRazorpay’Youagree thatRazorpaymayuseYourmaterialsinitsmarketingandpromotionalmaterialswithoutrequiringany incrementalconsentfromYou.YoufurtheragreethatRazorpaymayconductanalyticsonYourmaterialsand thatRazorpayshallretainownershipoftheresultsorreportsderivedfromsuchdatawhichshallbein aggregatedandanonymisedformforitsbusinesspurposesinaccordancewithApplicableLaws.Youshall indemnifyandholdharmlessRazorpay,itsAffiliatesanditsserviceprovidersondemandagainstallclaims andlossesarisingoutoforinconnectionwithouruseofYourMaterialsinaccordancewiththisclause.

2.    USAGEOFTHEWEBSITEANDUSEOFSERVICESBYTHE USER

• YoushallregistertobecomeauseroftheWebsiteonlyifYouareoftheageof18oraboveandcanenter YouareresponsibleformaintainingthesecrecyofYour passwords,loginandaccountinformation.Youareresponsibleformaintainingtheconfidentialityofany logininformationandsecureaccesscredentialsassociatedwithYourRazorpayaccount.Youwillbe responsibleforalluseofthePlatformand/orServicesbyYouoranyoneusingYourpasswordandlogin information(withorwithoutourpermission).YouareresponsibleforallactivitiesthatoccurunderYour account/inusingYoursecurecredentialsandRazorpayshallnotbeliableforanysuchchangeoraction performedbyusingYoursecurecredentialsontheWebsite.
• Youagreetoprovidetrue,accurate,currentandcompleteinformationaboutYourselfasandwhen promptedbythePlatform.IfYouprovideanyinformationthatisuntrue,inaccurate,notupdatedor incomplete(orbecomesuntrue,inaccurateorincomplete),orRazorpayhasreasonablegroundstosuspect thatsuchinformationisuntrue,inaccurate,notupdatedorincomplete,Razorpayshallhavetherightto immediatelysuspendorterminateYouraccountand/orrefuseanyandallcurrentorfutureuseofthePlatform orServices,oranyportionthereof,inconnectionthereto.
• ByusingtheServicesandprovidingyourcontactinformation,youconsenttoreceivinginformation about,andoffersfor,variousproductsandservicesfromRazorpay,itsAffiliatesorthirdparties.These communicationsmayoccurthroughvariouschannels,includingbutnotlimitedtotelephone,SMS,email, WhatsApp,othermessagingservices,oranyotherphysical,electronic,ordigitalmeans.Youagreethat Razorpaymaycontactyouelectronicallyorbyphonetogaugeyourinterestinspecificproductsandservices Additionally,youauthorizeRazorpay,alongwithitspartners, serviceproviders,vendors,andotherthirdparties,tocontactyouforpurposessuchas(i)presentingor solicitingyourinterestinotherproductsorservicesfromthirdparties,or(ii)sendingmarketingmaterials, offers,orotherinformationthroughtheWebsiteorviaothermethodsincludingtelephone,SMS,email, WhatsApp, or other messaging services or digital means.You consent to receiving these communications on thephoneormobilenumberyouprovidedonthewebsiteandexplicitlywaiveanyregistrationorpreferences

listedundertheDoNotDisturb(DND)orNationalCustomerPreferenceRegister(NCPR)inaccordance withTelecomRegulatoryAuthorityofIndia(TRAI)regulations.

• YouagreeandauthorizeRazorpaytoshareyourinformationwithitspartnerbanks,financialinstitutions, groupcompanies,Affiliates,vendors,serviceproviders,andotherthirdpartiesasnecessarytoprovidethe variousproductsandservicesyouselectortoofferadditionalvalue-addedservices.Youalsoconsentto receivingcommunicationsviaemail,telephone,and/orSMSfromRazorpayorthesethirdparties.Ifyou requesttooptoutofreceivingsuchcommunicationsormarketingmaterialsinthefuture,thisrequestwill onlyapplyprospectivelyandwillnotaffectdatathathasalreadybeensharedbyRazorpaywithyourprior
• ByaccessingthePlatformorusingourServices,Youacknowledgeandagreethatwemaydisplayoffers, promotions,andothercontentfromourpartners,Affiliates,andthirdpartiestoYouorYourendusers.These offersandpromotionsmaybetailoredbasedontheinformationprovided,includingpastinformationonour PlatformorbyYourorendusersuseofourServices.Wemayleveragethedata,includingpersonaldata,that YouorYourenduserssubmittopersonalizeandoptimizetheseoffers,ensuringthattheyarerelevantand valuabletoYou,andYouexplicitlyconsenttosuchusage.Thismayinclude,butisnotlimitedto,Youror Yourenduserpreferences,interactions,andusagepatternsonourPlatform.Wedonotguaranteethe accuracy,quality,orsuitabilityofanyofferspresented,andsuchoffersmaybesubjecttoadditionaltermsand Your,oranenduser’s,engagementwiththeseoffersissolelyatYourdiscretion.
• Youacknowledgeandagreethatforundertakinganypaymentand/orfinancialtransactionthroughthe Platform,RazorpaymayundertakeduediligencemeasuresandseekinformationrequiredforKYCpurposes, whichasacustomer/merchantYouareobligedtogiveinaccordancewithApplicableLaws.You acknowledgeandagreethatRazorpaymayundertakeenhancedduediligencemeasures(includingany documentation),tosatisfyitselfrelatingtoduediligencerequirementsinlinewiththerequirementsand obligationsunderApplicableLaws.Youaresolelyresponsibleforunderstandingandcomplyingwithall ApplicableLaws,includingbutnotlimitedtotheprovisionsoftheRBIGuidelinesonRegulationofPayment AggregatorsandPaymentGateways,PaymentandSettlementSystemsAct,2007,PreventionofMoney LaunderingAct,2002,KYCGuidelines,etc.issuedbytheRBIasmaybeamendedfromtimetotimethat
• YouagreeandcovenantthatbeforethecommencementofanyService(s)undertheseTerms,Youshall providethenecessarydocuments(asdeterminedinRazorpay’ssolediscretionorwhenrequiredbyFacility Providersorgovernmentalauthoritiesorlawenforcementagencies)(“KYCDocuments”)toenableRazorpay toconducttheduediligenceinrespectofYouandYourbusiness/activities.Razorpayshallhavetherightto sharetheKYCDocuments(ortheinformationtherein)andotherrelateddocumentswiththeFacility Providersorgovernmentalauthoritiesorlawenforcementagencies,asrequiredundertheApplicableLaws. You expressly consent Razorpay to rely on the KYC Documents provided byYou for providing Services.You furtheracknowledgeandagreethatRazorpayreservestherightatalltimestomonitor,review,retainand/or discloseanyinformationinrelationtotheService(s)asnecessarypursuanttosatisfyanyApplicableLaws, legal process or governmental request.
• RazorpayshallhavetherighttodemandfromYou,any(i)additionalKYCDocumentsand/or(ii)any KYCrelatedorotherdocumentsofYourcustomersorinvoices,initssolediscretionand/orasperthe ApplicableLawsorpursuanttorequestsfromgovernmentalauthorities,lawenforcementagenciesorFacility YourfailuretosubmittheKYCDocumentswhenrequisitionedshallentitleRazorpaytosuspend theServicesand/orstopsettlementofmonies(asapplicable)untilYousubmitsuchKYCDocumentstothe sole satisfaction of Razorpay.
• YouagreethatRazorpayshallnotberesponsibleforanydelivery,after-salesservice,payment,invoicing orcollection,customerenquiries(notlimitedtosalesenquiries),technicalsupportmaintenanceservices and/oranyotherobligationsorservicesrelatingtoorinrespectofYourproductsorservices.Suchobligations YoushallindemnifyRazorpayagainstanyclaimarisingfromsuchservices orobligationsandshallbearanyandallexpensesand/orcostsrelatingthereto.
• ThroughoutYouruseoftheServices,YoudeclarethatYouorYouraffiliatesand/oritsBeneficial OwnerarenotaPoliticallyExposedPerson.Youshallforthwithinformusinwritingifthisdeclaration Capitalisedtermsusedherebutnotdefined

shallhavethemeaningascribedtothemintheKYCGuidelinesissuedbytheRBI,asamendedfromtimeto time.

• TheusageofthePlatformmayalsorequireYoutoprovideconsentforprovidingYourPersonal Information(“PI”)(includingbutnotlimitedtoanypersonaldataorsensitivepersonaldataasdefinedunder ApplicableLaws)ortoauthorizeRazorpaytoderiveYourdata/informationfromanysourceorpublicregistry orportal,asmaybenecessarytocompleteYourprofileorYourapplicationonthePlatform,conductdue diligenceonYou,undertakeKYCchecksbyitselforanyotherthirdpartyand/ortoprovideYouServices throughthisPlatform.YouexplicitlyauthoriseRazorpaytorelyonsuchinformationandYourepresentand Razorpayshalladheretobest industrypracticesincludinginformationsecurity,dataprotectionandprivacylawwhileprocessingsuch applications.However,RazorpayshallnotbeliabletoYouagainstanyliabilityorclaimswhichmayariseout ofsuchtransactionsasanysuchPIisbeingcollected,used,processedandsharedwithYourexplicitconsent.
• YouagreenottousethePlatformand/orServicesforanypurposethatisunlawful,illegalorforbidden bytheseTerms,oranylocallawsthatmightapplytoYou.Wemay,atoursolediscretion,atanytimeand withoutadvancenoticeorliability,suspend,terminateorrestrictYouraccesstoalloranycomponentofthe Platform and/or Services.
• YouareprohibitedfrompostingortransmittingtoorthroughthisPlatform:(i)anyunlawful, threatening,libellous,defamatory,obscene,pornographicorothermaterialorcontentthatwouldviolate rightsofpublicityand/orprivacyorthatwouldviolateanylaworthatharmsminorsinanyway;(ii)any commercialmaterialorcontent(including,butnotlimitedto,solicitationoffunds,advertising,ormarketing ofanygoodorservices);(iii)anymaterialorcontentthatinfringes,misappropriatesorviolatesany copyright, trademark, patent right or other proprietary right of any third party; (iv) contains software viruses oranyothercomputercode,filesorprogramsdesignedtointerrupt,destroyorlimitthefunctionalityofany computerresource;(v)threatenstheunity,integrity,defense,securityorsovereigntyofIndia,friendly relationswithforeignstates,orpublicorderorcausesincitementtothecommissionofanycognizable offenceorpreventsinvestigationofanyoffenceorisinsultingtoanyothernation;(vi)impersonatesanother person;or(vii)isillegalinanyotherway.Youshallbesolelyliableforanydamagesresultingfromany violationoftheforegoingrestrictions,oranyotherharmresultingfromYourpostingofcontenttothis Platform.
• Yourepresentandandwarrantthat:

• YouaredulyincorporatedorestablishedunderthelawsofYourjurisdictionandhaveallrequisitepower
• Youhavethefulllegalcapacityandpowertoenterinto,exerciseYourrightsunder,andperformYour obligations under these Terms.
• Theexecution,deliveryandperformanceoftheseTermshasbeenauthorizedbyallnecessarycorporate andorganizationalactionsincludingbutnotlimitedtoboardresolutionand/orpowerofattorneyand/orletter ofauthoritytobindYourbusinessandYourcompany/firm/organization.
• YouhavedulyacceptedtheseTerms,whichformalegal,validandbindingobligation,enforceablein accordance with its clauses.
• Youdonot,andshallnot,engageinanyactivityrelatedtovirtualcurrency,cryptocurrencyandother crypto products (like non-fungible tokens or NFTs), prohibited investments for commercial gain or credits thatcanbemonetized,re-soldorconvertedtophysicalordigitalgoodsorservicesorotherwiseexitthe AnybreachofthisprovisionshallbesubjecttoimmediatesuspensionorterminationofYour accesstooruseofthePlatformoranyorallServices,atRazorpay’ssolediscretion.Youshallindemnify RazorpayfromanylossesarisingfromYourbreachofthisprovision.
  • Youfurtherrepresent,warrant,andcovenantthat:
• YouruseofthePlatformandServicesandsaleofYourproducts/servicesaresolelyforYourownbona fidebusinessactivitieswhichareincompliancewiththeApplicableLawsandalsotheinstructionsissued

fromtimetotimebytheRazorpayanditsFacilityProviders.

• YouruseoftheServicescorrespondstothoseactivitiesunderthecategoriesYouhaveexpresslyregistered foratthetimeofenteringintotheseTermsandassetoutinYouronboardingformontheRazorpay dashboardorasotherwiseapprovedinwritingbyRazorpay.
• YoushallnotresellorassigntheServices,inwholeorinpart,orotherwiseallowtheuseoftheServices byanythirdparties,includingYouraffiliates.
• YouruseofServicesdoesnotfacilitateanyactivitywhichisunlawful,illegal,unauthorised,iscarriedon withtheintenttodefraud,orislikelytoresultinYourunjustenrichmentand/orunlawfulgain.
• YouruseofServicesdoesnotfacilitatetheoffer,saleorpurchaseofprohibitedproductsand/orservices specified under these Terms.
  • YouholdexpressinformedconsentofYourcustomerstosharecustomers’information,including personaldata,withRazorpayanditsaffiliates(i)inconnectionwithprovisionofServicestoYouandother usersofthePlatformorServices,(ii)forthepurposesofsharingsuchinformationwithgovernmental authoritiesasandwhendemandedunderApplicableLaws,(iii)forthepurposeoftransactiontrackingand fraudprevention,or(iv)pursuanttoregulatoryauthorities’ordersand/ornoticesincludingbutnotlimitedto notices under Section 94 of BNSS.
  • YouacknowledgethattheServicesareofcomplexnatureandrequiretheinterventionoftheFacility YouacknowledgeandagreethatRazorpayshallonlybeliableforactsoromissionswhichare solelyanddirectlyattributabletoRazorpay.
  • InordertoavailtheServices,YoushalltakeallnecessarystepstofacilitatetheintegrationofRazorpay’ssolutionswithYourplatform.ItisherebyclarifiedthatanyServertoServer(S2S)integration,if done,shallbesolelyforthepurposeofavailingtheServicesandintendedtobeusedoraccessedonlybyYou.
  • YoushallassistRazorpayinfurnishingtoitsauditors,theFacilityProviders,governmentalauthorities, orlawenforcementagencies,forthwithuponrequestfromtimetotime,KYCDocuments,relevantbooks,the originalcopy/copiesofproofoftransactions,invoicesorotherrecords,includingpertainingtoanyorder Youshallretainrecordsrelatingtotransactionsforaperiodof10(ten)yearsfrom therelevantdateoftheorderplacedonYoursite.RazorpayandtheFacilityProviders,and/orgovernmental agenciesand/orlawenforcementagenciesshallbeentitledtoauditandinspecttherecordsandotherdata relatingtothecustomer’sordersatanytimewhatsoeverandwithoutanypriornotice.Youshallensure cooperationwithRazorpay,itsauditors,FacilityProviders,governmentalauthorities,orlawenforcement agenciesforanyaudit,inspectionorpursuanttoanyotherrequest.
  • Youshallnot(whetheronlineorotherwise):(i)describeYourselfasanagentorrepresentativeof RazorpayortheFacilityProvider;(ii)representthatYouhaveanyrightstoofferanyproductsorservices offeredbyRazorpayortheFacilityProvider;and(iii)makeanyrepresentationstoYourcustomeroranythird partyorgiveanywarrantieswhichmayrequireRazorpayorFacilityProvidertoundertaketoorbeliablefor, whetherdirectlyorindirectly,anyobligationand/orresponsibilitytoYourcustomeroranythirdparty.
  • When a customer purchases goods or services fromYou,You may, inYour sole discretion, impose any AnyresponsibilityorlossesincurredbyRazorpayasaresultofthecharge ofanysuchconveniencefeebyYoutoYourcustomersshallbebornebyYou.Youshallalsoindemnify Razorpay for such liability or losses.
  • Youshallnotengage,appoint,orotherwiseutilizeanythird-partyserviceproviderinconnectionwith Youfurtheragreesthatthey shallutilizetheServicessolely(a)directlyfromRazorpay;(b)throughapaymentorchestrationsolution providedorexpresslyapprovedbyRazorpay;or(c)viaaproprietaryin-houseorchestrationsolution developedbytheMerchant,subjecttoRazorpay’spriorwrittenapproval.Youshallnotengage,integrate,or routeanypaymentsthroughathird-partypaymentorchestratornotexplicitlyapprovedbyRazorpay.Any breachofthisclause,includinguseofanunapprovedthird-partyorchestrator,shallentitleRazorpayto immediatelysuspendand/orterminatetheServiceswithoutanyliabilitytoRazorpay.

3.    PAYMENT

• Youagree thatthefeesshallbechargedaccordingtothemanner,ratesandfrequencydeterminedbyRazorpay. Razorpayreservestherighttoupdatetheamountofthefeeschargedatitssolediscretion.Razorpayfees allowaccesstotheentiresuiteofpaymentsproducts,dashboardandcustomreports,andincludesMDR charges,ifany,forpaymentinstrumentsasprescribedunderapplicableguidelines.Forclarity,Razorpayfees includezeroMDRforRupayDebitCardsandUPItransactions.
• FeesareexclusiveofapplicabletaxesandRazorpaywillchargesuchapplicabletaxesonthefeesfrom YouagreethatanystatutoryvariationsinapplicabletaxesduringthesubsistenceoftheseTerms shall be borne byYou.
• Invoicesareavailableonthedashboardonamonthlybasis.Anydisputeinrespectofaninvoicemustbe communicatedbyYoutousviaanoticenolaterthanten(10)daysfromthedateoftheinvoice.Razorpay shallusegoodfaitheffortstoreconcileanyreasonablydisputedamounts.
• Incaseof discrepancies,YoushallreporttoRazorpayregardingsuchdiscrepancywithinthree(3)daysuponthereceipt ofthefunds.RazorpayshallnotbeliableforanyreconciliationissueifthesameishighlightedbyYouto Razorpay after such time.
• ForfeesdeductedupfrontbeforeprovisionofthespecificService,itisagreedthatifYoudeposit applicabletaxesunderSection194HoftheIncomeTaxAct,1961(inrespectofinvoicesreceivedbyYou) andfurnishtoRazorpayForm16-Ainrespectofsuchtaxespaid,thenRazorpayshallreimbursetoYou,ona quarterlybasis,theamountinrespectofsuchtaxespaid.Inallothercases,withrespecttoinvoicesreceived byYou,atthetimeofpaymentoftheFees,YouwillwithholdapplicabletaxesunderSection194Hofthe IncomeTaxAct,1961(incaseLTDCisprovidedaspertheLTDCissued).Youshalldepositthewithheld taxeswiththegovernmenttreasury,filethestatutorilymandatedreturnsandfurnishtherequisitetax deductioncertificate(Form16-A)toRazorpaywithinonehundredandeighty(180)dayssoastoenable Razorpaytoobtainfullcreditforthetaxesdeductedatsource.
• IfYouoperateasane-commerceoperator,facilitatingthesaleofgoodsorprovisionsofservicesofa residente-commerceparticipant,YoushallevaluateandcomplywiththerequirementsofTDSunderSection

19.40oftheIncomeTaxAct,1961.You,asane-commerceoperator,willwithholdtaxunderSection19.40of theActanddepositthesamewithintheapplicabletimelines,includingcarryingoutallthenecessary compliancesasprescribedundertheIncomeTaxAct,1961.Asthepaymentserviceprovider,Razorpay wouldnotbeobligatedtodeducttaxunderSection19.40andthesamewillbeYourresponsibilityasthee- commerceoperator.Forthepurposesofthisclause3.5A,”e-commerceoperator”and”e-commerce participant”shallhavethemeaningassignedtotheminsection19.40oftheIncomeTaxAct,1961.

• YoushallbesolelyresponsibleforupdatingYourGSTregistrationnumberontheRazorpaydashboard Razorpay willraiseaGSTtaxinvoiceandreportthetransactionsintheGSTreturnsbasedontheinformationprovided byYou.TheGSTreturnswillbefiledasperthestatutorytimelines,toenableYoutoavailappropriateinput taxcredit.RazorpayshallnotberesponsibleforanymistakeandormisrepresentationbyYouinupdatingthe GSTnumberandotherparticularsaspertheGSTcertificate.Further,anyliabilityraisedonRazorpaybythe GSTauthoritiesduetoincorrectinformationprovidedbyYouordeliberatewithholdingofanystatutory informationbyYoushallberecoveredbyRazorpayfromYou.
• AInorderforRazorpaytoissueaproperB2BtaxinvoiceundertheGSTlawandtoensureGSTinput creditisavailabletoYou,RazorpayshallrecordYourcorrectGSTIN.Towardsthis,Youareadvisedtoverify YourGSTINandregisteredaddresscapturedwithintheaccountmaintainedwithRazorpayatperiodical intervalsandcorrectthesamewherevernecessary.Intheevent,correctGSTINisnotupdatedinYour accountmaintainedwithRazorpay,thenYoushallbesolelyresponsibleinrespectthereofandRazorpayshall notbeliabletoaccommodateanyrequestforrevisionofinvoiceand/oramendmenttoGSTreporting.

4.    PRIVACYPOLICY

Byusingthewebsite,YouherebyconsenttotheuseofYourinformationaswehaveoutlinedinourPrivacyPolicy.

5.   THIRDPARTYLINKS/OFFERS

ThePlatformcontainslinkstootherwebsitesoverwhichwehavenocontrol.WeencourageYoutoreview thetermsandprivacypoliciesofthoseotherwebsitessoYoucanunderstandYouruseofthewebsitesand howtheycollect,useandshareYourinformation.Razorpayisnotresponsibleforthetermsandconditions, privacypoliciesorpracticesofotherwebsitestowhichYouchoosetolinkfromthePlatform.Youfurther acknowledgeandagreethatRazorpayshallnotberesponsibleorliable,directlyorindirectly,foranydamage orlosscausedorallegedtobecausedbyorinconnectionwithuseoforrelianceonanysuchcontent,goods orservicesavailableonorthroughanysuchsiteorresource.Yourinteractionwithanythirdpartyaccessed throughthewebsiteisatYourownrisk,andRazorpaywillhavenoliabilitywithrespecttotheacts, omissions,errors,representations,warranties,breachesornegligenceofanysuchthirdpartiesorforany personalinjuries,death,propertydamage,orotherdamagesorexpensesresultingfromYourinteractionswith the third parties.

6.    OURPARTNERS

ThisPlatformalsooffersYouaccesstoinformationprimarilyaboutcertainfinancialproducts/services including,butnotrestricted,toloanfacility,creditcardsfacility,investmentservicessuchascurrentaccounts offeredbyourlendingpartners.Thetermsandconditionsforthesamecanbeaccessedhere.

7.    DISCLAIMEROFWARRANTY

TothemaximumextentpermittedbyApplicableLaws,thePlatformandtheServicesareprovidedonan“as is”basis.YouacknowledgethatRazorpaydoesnotwarrantthattheService(s)willbeuninterruptedorerror freeorfitforYourspecificbusinesspurposes.

8.    LIMITATIONOFLIABILITY

• Razorpay(includingitsofficers,directors,employees,representatives,affiliates,andproviders)willnot beresponsibleorliablefor(a)anyinjury,death,loss,claim,actofGod,accident,delay,oranydirect,special, exemplary,punitive,indirect,incidentalorconsequentialdamagesofanykind(includingwithoutlimitation lostprofitsorlostsavings),whetherbasedincontract,tort,strictliabilityorotherwise,thatariseoutoforis inanywayconnectedwith(i)anyfailureordelay(includingwithoutlimitationtheuseoforinabilitytouse anycomponentofthePlatform),or(ii)anyuseofthePlatformorServicesorcontenttherein,or(iii)the performanceornon-performancebyusoranyFacilityProvider,evenifwehavebeenadvisedofthe possibilityofdamagestosuchpartiesoranyotherparty,or(iv)anydamagestoorvirusesthatmayinfect YourcomputerequipmentorotherpropertyastheresultofYouraccesstothePlatformorServicesorYour use of any content therein.
• NotwithstandinganythingundertheseTerms,Razorpay’saggregateliabilityandthatofitsaffiliates, officers,employeesandagentsrelatingtotheService(s),willnotexceedanamountequaltoone(1)month feespaidbyYouforthespecificService(s)givingrisetotheliability.Razorpay’sliabilityunderorin connectionwithTermswillbeproportionatelyreducedtotheextentanylossordamageiscontributedtoby

9.    INDEMNITY

YouagreetoindemnifyandholdRazorpay(anditsofficers,affiliates,groupcompany,directors,agentsand employees)harmlessfromanyandagainstallclaims,whetherornotbroughtbythirdparties,causesof

action,demands,recoveries,losses,damages,fines,penaltiesorothercostsorexpensesofanykindornature, includingreasonableattorneys’fees,orarisingoutoforrelatedtoYourbreachoftheseTerms,Yourviolation ofanyApplicableLawsortherightsofathirdparty,orYouruseofthePlatformoranydisputesbetweenYou andanythirdparty.Thecovenantsofindemnitysetforthhereinshallsurviveandcontinueevenafterthe terminationofYouruseoftheServices.

10.    CARDASSOCIATIONRULES

• “CardPaymentNetworkRules“refertothewrittenrules,regulations,releases,guidelines,processes, interpretationsandotherrequirements(whethercontractualorotherwise)imposedandadoptedbythecard paymentnetworks.Thesecardpaymentnetworkshaveinfrastructureandprocessestoenabletransaction authorisation.ThecardpaymentnetworksrequireYoutocomplywithallapplicableguidelines,rules,and regulations formulated by them.
• Thecardpaymentnetworksreservetherighttoamendtheirguidelines,rulesandregulationsfromtime Wemayberequiredtoamend,modifyorchangetheseTermspursuanttoamendmentstotheCard PaymentNetworkRulesandsuchamendments,ifany,shallbedeemedtobebindingonYouwithimmediate effect.
• Youagreetofullycomplywithallprograms,guidelines,requirementsthatmaybepublishedand/or NotwithstandingourassistanceinunderstandingtheCardPayment NetworkRules,YouexpresslyacknowledgeandagreethatYouareassumingtheriskofcompliancewithall provisionsoftheCardPaymentNetworkRules,regardlessofwhetherYouareawareoforhaveaccessto thoseprovisions.Forillustrationpurposes-MasterCard,Visa,Diners,RuPayandAmericanExpressmake excerptsoftheirrespectiverulesavailableontheirinternetsites.
• IntheeventthatYournon-complianceofCardPaymentNetworkRules,resultsinanyfines,penaltiesor otheramountsbeingleviedonordemandedofusbyacardpaymentnetwork,thenwithoutprejudicetoour otherrightshereunder,Youshallforthwithreimburseusinanamountequaltothefines,penaltiesorother amountsoleviedordemandedorspentbyusinanymannerinrelationtosuchfines,penaltiesandlevies.If YoufailtocomplywithYourobligationstowardsthecardpaymentnetworks,Razorpaymaysuspend settlementorsuspend/terminatetheServicesforthwith.

11.   WAIVER

RazorpayshallnotbedeemedtohavewaivedanyrightorprovisionofthisAgreementunlesssuchwaiveris madeinwriting.AwaiverofanytermorconditionofthisAgreementshallnotbedeemedawaiverofany othertermorcondition,norshallitbeacontinuingwaiver.

12.    FORCEMAJEURE

IfperformanceofServices/PlatformbyRazorpayisprevented,restricted,delayedorinterferedwithby reasonoflabourdisputes,strikes,actsofGod,epidemic,pandemic,floods,lightning,severeweather, shortagesofmaterials,rationing,inducementofanyvirus,malware,trojanorotherdisruptivemechanisms, anyeventofhackingorillegalusageofthePlatform,utilityorcommunicationfailures,earthquakes,war, revolution,actsofterrorism,civilcommotion,actsofpublicenemies,blockade,embargooranylaw,order, proclamation,regulation,ordinance,demandorrequirementhavinglegaleffectofanygovernment, regulatoryoranyjudicialauthorityorrepresentativeofanysuchgovernment,oranyotheractwhatsoever, whethersimilarordissimilartothosereferredtointhisclause,whicharebeyondthereasonablecontrolof Razorpay,thenRazorpayshallbeexcusedanddischargedfromsuchperformancetotheextentofandduring theperiodofsuchforcemajeureevent,andsuchnon-performanceshall,innomannerwhosoever,amountto abreachbyRazorpayofitsobligationshereinorincuranylegalliabilityonRazorpay.

13.   ANTIBRIBERYANDSANCTIONSLAWS

 

Youagreetocomplywithallapplicableanti-briberyandanti-corruptionlawswhichprohibitofficials, representatives,agentsoranyotherpersonassociatedwithoractingonbehalfofYoufromgiving,offering, promisingtooffer,receiving/acceptingoractinginanyothermannersoastoinduceapayment,gift, hospitalityoranythingelseofvalue(eitherdirectlyorindirectly)whetherfromwithinthecountryorfrom abroad to government officials, public servants, regulatory bodies, judicial authorities, persons in positions of authority,electedorcontestingelectoralcandidates,politicalpartiesorofficebearersthereoforanyother thirdpartyorpersoninordertoobtainanimpropercommercial/businessadvantageofanykind.Government officialsincludeanygovernmentemployee,candidateforpublicoffice,anemployeeofgovernment-owned orgovernment–controlledcompanies,publicinternationalorganisationsandpoliticalparties.Youalsoagree nottogive,offer,pay,promiseorauthorisetogiveorpay,directly,indirectlyorthroughanyotherperson,of anythingofvaluetoanybodyforthepurposeofinducingorrewardinganyfavourableactionorinfluencing any decision inYour favour.

14.   ADDITIONALTERMS

• Razorpaymay assignitsrightsanddutiesundertheseTermswithoutanysuchassignmentbeingconsideredachangetothe TermsandwithoutanynoticetoYou.IfwefailtoactonYourbreachoranyoneelse’sbreachonany occasion,wearenotwaivingourrighttoactwithrespecttofutureorsimilarbreaches.
• Razorpaymay,atitsreasonablediscretionandincompliancewithApplicableLaws,blacklistYourend Blacklistedusersmayberestrictedfromtransactions,andremovalof blacklistingmayoccurbasedonupdatedriskassessments.YouacknowledgeandagreethatRazorpaymay takesuchmeasurestoprotecttheintegrityofthepaymentecosystem.Razorpayisnotobligatedtoprovide priornoticeorreasonsfortheseactions.Youagreetobesolelyresponsibleforprovidinganynotificationto Your end users.
• Additionaltermsapplicable tothe Servicesprovided byRazorpay oritsAffiliates areas under:

• ThelawsofIndia,withoutregardtoitsconflictoflaws,rules,willgoverntheseTerms,aswellasYour andourobservanceofthesame.IfYoutakeanylegalactionrelatingtoYouruseofthePlatformorthese Terms,YouagreetofilesuchactiononlyinthecourtslocatedinBangalore,India.InanysuchactionthatWe mayinitiate,theprevailingpartywillbeentitledtorecoveralllegalexpensesincurredinconnectionwiththe legalaction,includingbutnotlimitedtocosts,bothtaxableandnon-taxable,andreasonableattorneyfees. YouacknowledgethatYouhavereadandhaveunderstoodtheseTerms,andthattheseTermshavethesame ThisclauseshallsurviveterminationoftheTerms.
• WithoutprejudicetoanyotherrightsorremediesRazorpaymayhave,Youherebyagreeandconfirmthat Razorpayshallhavetherighttoset-offbywhatevermeansthewholeoranypartofYourliabilitytoRazorpay undertheseTerms(oranyotheragreementbetweenYouandRazorpayoritsaffiliates)againstanyfunds, sumsorotheramountscreditedto,orowingto,YouundertheseTerms(oranyotheragreementbetweenYou andRazorpayoritsaffiliates).YouagreethatRazorpaymayexercisetherightofset-offatanytime,without anypriornoticetoYou.Intheeventsuchset-offdoesnotfullyreimburseRazorpayfortheliabilityowed,
• Youshallnot(whetheron-lineorotherwise):(i)describeYourselfasanagentorrepresentativeof RazorpayoranyFacilityProvider;(ii)representthatYouhaveanyrightstoofferanyproductsorservices offeredbyRazorpayortheFacilityProvider;and(iii)makeanyrepresentationstoYourcustomeroranythird partyorgiveanywarrantieswhichmayrequireRazorpayorFacilityProvidertoundertaketoorbeliablefor, whetherdirectlyorindirectly,anyobligationand/orresponsibilitytocustomeroranythirdparty.(d) Razorpayreservestherighttomakechangestothewebsite,relatedpoliciesandagreements,theseTermsand thePrivacyPolicyatanytimeasitdeemsfitandproper,includingbutnotlimitedtocomplywithchangesin laworregulation,correctinaccuracies,omissions,errorsorambiguities,reflectchangesintheprocessflow, scope and nature of the Services and ancillary services, company reorganization, market practice or customer
  • YouagreethatthefeesforanyServicesundertheseTermsshallbechargedaccordingtothemanner, ratesandfrequencydeterminedbyRazorpay.Razorpayreservestherighttoupdatetheamountofthefees

includingforServicesforwhichnochargehasbeenleviedpreviouslyinaccordancewiththisclause.You agreethatYoushallbeliabletopayanyadditionalfeesasdeterminedbyRazorpayintheevent:

• Youavailcertainvalue-addedservicesavailableonthedashboardirrespectiveofwhethertheyhavebeen
• YouagreethatYouruseofanyServiceora value-addedserviceshallbeconstruedasaconsenttoanyadditionalfeeswhichmaybeleviedbyRazorpay onsuchadditionalServiceorvalue-addedservice.
  • Anendusermayavaildynamiccurrencyconversion(“DCC”)serviceswhichmaybemadeavailableby Razorpaytoanenduser,asapplicable.Thetransactionamountpayablebytheendusertowardsthepurchase ofgoodsorservicesfromamerchantshallbeinclusiveofchargesforsuchDCCservicesavailedbytheend Anendusermayreachouttodcc_invoice@razorpay.com,byprovidingthepaymentIDandenduser contactnumber,togetinvoicesforDCCtransactions.

15.   ADVERTISING

SomeoftheServicesmaybesupportedbyadvertisingrevenueandmaydisplayadvertisementsand promotionalmaterial.Theseadvertisementsmaybetargetedtothecontentofinformationstoredonthe Services,queriesmadethroughtheServicesorotherinformation.Themanner,modeandextentof advertisingbyRazorpayaresubjecttochangewithoutanyspecificnoticetoYou.Inconsiderationfor RazorpaygrantingYouaccesstoanduseoftheServices,YouagreethatRazorpaymayplacesuch advertisementsontheServicesthroughwebsite,printmedia,electronicmedia,socialmedia,advertising platforms, etc.

16.    SUSPENSIONANDTERMINATION

• Notwithstandinganythingtothecontrary,Razorpayshallhavetherighttoimmediatelysuspend ServicesandsettlementofanymoniesorpaymentstoYou,withoutanyliabilitytoYou,intheeventofthe following:

•  
• Youfacilitateanytransactionwhichisunlawfulorincontraventionwith‘ProhibitedProductsand Services’listedbelowinclause17ofPartA:GeneralTermsandConditions.
• RazorpayreceivesinstructionsfromFacilityProvidersorgovernmentalauthoritiesorlawenforcement agenciestoeithersuspendtheServices,orpartthereof,ordirectstosuspendtheServicesorpartthereof regardlessofwhetherthereispendinginvestigation/enquiryintoanyallegedillegal/unlawfulactivities.
• YouusetheServicesforanytransactionswhichhaveahigh-riskscoreasperRazorpay’sinternalfraud assessment tools and other policies.
•  
• Razorpayisoftheopinionthattherearepending,anticipated,orexcessivedisputes,refunds,orreversals relating toYour use of Services.
• Yourproducts/servicesinfringe,oraresuspectedofinfringing,intellectualpropertyrights,copyrightable works,patentedinventions,trademarksandtradesecrets,orYouaresuspectedofsellingcounterfeitand/or knock-off goods.
• Youmateriallychangethetypeoftheproducts/servicesprovidedtoendcustomersandasdeclaredonthe onboardingform,withoutobtainingRazorpay’spriorwrittenpermissiontousetheServicesforthenewor changedtypesofservices/products,oritisdiscoveredbyRazorpaythatYouprovidedsubstantially misleadingand/orfalseinformationaboutYourproducts/servicesaspartoftheonboardingactivities.

• RazorpayinitssolediscretiondeterminesthatYouractivitiesexposeRazorpaytoriskswhichare unacceptable to Razorpay.
• Razorpayin its sole discretion is required to do so due toregulatory changes impacting the Services.
  • TheseTermsareeffectiveuponthedateYoufirstaccessorusethePlatformorServicesandcontinue Unlessyouhaveaseparateofflineagreementin relationtousetheServices,oranypartthereof,theseTermswillapply.WemayterminatetheseTermsor closeYourRazorpayaccountatanytimeforanyreason(including,withoutlimitation,foranyactivitythat maycreateharmorlosstothegoodwillofRazorpay).WhereApplicableLawsrequireadvancenoticeof terminationtobeprovided,wewill,priortotermination,provideYouwiththerequiredadvancenoticeof termination.
  • Termination does not immediately relieveYou of obligations incurred byYou under these Terms. Upon termination,YouagreetostopusingtheServices.YourcontinuedorreneweduseoftheServicesafter terminationservestorenewYourconsenttotheTerms.Inaddition,uponterminationYouunderstandand agreethatwewillnotbeliabletoYouforcompensation,reimbursement,ordamagesrelatedtoYouruseof theServices,oranyterminationorsuspensionoftheServicesordeletionofYourinformationoraccount data;andYouwillstillliabletousforanyfeesorfines,orotherfinancialobligationincurredbyYouor throughYouruseoftheServicespriortotermination.

17.    PROHIBITEDPRODUCTSANDSERVICES

1. Adultgoodsandserviceswhichincludespornographyandothersexuallysuggestivematerials(including literature,imageryandothermedia);escortorprostitutionservices;websiteaccessand/orwebsite membershipsofpornographyorillegalsites;
2. Alcoholwhichincludesalcoholoralcoholicbeveragessuchasbeer,liquor,wine,orchampagne;
3. Bodypartswhichincludesorgansorotherbodyparts;
4. Bulkmarketingtoolswhichincludesemaillists,software,orotherproductsenablingunsolicitedemail messages (spam);
5. Cabledescramblersandblackboxeswhichincludesdevicesintendedtoobtaincableandsatellitesignals for free;
6. Childpornographywhichincludespornographicmaterialsinvolvingminors;
7. Copyrightunlockingdeviceswhichincludesmodchipsorotherdevicesdesignedtocircumventcopyright protection;
8. Copyrightedmediawhichincludesunauthorizedcopiesofbooks,music,movies,andotherlicensedor protected materials;
9. Copyrightedsoftwarewhichincludesunauthorizedcopiesofsoftware,videogamesandotherlicensedor protectedmaterials,includingOEMorbundledsoftware;
10. Counterfeitandunauthorizedgoodswhichincludesreplicasorimitationsofdesignergoods;items withoutacelebrityendorsementthatwouldnormallyrequiresuchanassociation;fakeautographs,counterfeit stamps,andotherpotentiallyunauthorizedgoods;
11. Drugsanddrugparaphernaliawhichincludesillegaldrugsanddrugaccessories,includingherbaldrugs like salvia and magic mushrooms;
12. Drugtest circumvention aidswhich includes drug cleansingshakes, urine testadditives, and related items;
13. Endangeredspecieswhichincludesplants,animalsorotherorganisms(includingproductderivatives)in danger of extinction;

14. Gaming/gamblingwhichincludeslotterytickets,sportsbets,memberships/enrolmentinonlinegambling sites, and related content;
15. GovernmentIDsordocumentswhichincludesfakeIDs,passports,diplomas,andnobletitles;
16. Hackingandcrackingmaterialswhichincludesmanuals,how-toguides,information,orequipment enablingillegalaccesstosoftware,servers,website,orotherprotectedproperty;
17. Illegalgoodswhichincludesmaterials,products,orinformationpromotingillegalgoodsorenabling illegal acts;
18. Miraclecureswhichincludesunsubstantiatedcures,remediesorotheritemsmarketedasquickhealth fixes;
19. Offensivegoodswhichincludeliterature,productsorothermaterialsthat:(a)defameorslanderany personorgroupsofpeoplebasedonrace,ethnicity,nationalorigin,religion,sex,orotherfactors;(b) encourageorinciteviolentacts;or(c)promoteintoleranceorhatred.
20. Offensivegoods,crimewhichincludescrimescenephotosoritems,suchaspersonalbelongings, associated with criminals;
21. Pyrotechnicdevices,combustibles,corrosivesandhazardousmaterialswhichincludesexplosivesand relatedgoods;toxic,flammable,andradioactivematerialsandsubstances;
22. Regulatedgoodswhichincludesairbags;batteriescontainingmercury;Freonorsimilar substances/refrigerants;chemical/industrialsolvents;governmentuniforms;cartitles;licenseplates;police badgesandlawenforcementequipment;lock-pickingdevices;pesticides;postagemeters;recalleditems;slot machines;surveillanceequipment;goodsregulatedbygovernmentorotheragencyspecifications;
23. Securitieswhichincludesgovernmentbondsorrelatedfinancialproducts;
24. Tobaccoandcigaretteswhichincludescigarettes,cigars,chewingtobacco,andrelatedproducts;
25. Trafficdeviceswhichincludesradardetectors/jammers,licenseplatecovers,trafficsignalchangers,and related products;
26. Weaponswhichincludesfirearms,ammunition,knives,brassknuckles,gunparts,andotherarmaments;
27. Wholesalecurrencywhichincludesdiscountedcurrenciesorcurrencyexchanges;
28. Live animalsorhides/skins/teeth, nailsandotherparts etc.ofanimals;
29. Multi-levelmarketingcollection fees;
30. Matrixsitesorsitesusingamatrixschemeapproach;
31. Offeringwork-at-homeapproachand/orwork-at-homeinformation;withanintentiontodeceive;
32. Drop-shippedmerchandise;
33. Anyproductorservicewhichisnotincompliancewithallapplicablelawsandregulationswhether federal,state,localorinternational,includingthelawsofIndia;
34. Provisionofanyservicesthathavethepotentialofcastingthepaymentgatewayfacilitatorsinapoorlight and/orthatmaybepronetobuyanddenyattitudeofthecardholderswhenbilled(e.g.adultmaterial/mature content/escortservices/friendfinders)andthusleadingtochargebackandfraudlosses;
35. Businessesorwebsitethatoperatewithinthescopeoflawswhicharenotabsolutelyclearorare ambiguousinnature(e.g.web-basedtelephony,Websitesupplyingmedicinesorcontrolledsubstances, websitethatpromiseonlinematch-making);

36. Businessesoutrightlybannedbylaw(e.g.bettingandgambling/publicationsorcontentthatislikelytobe interpretedbytheauthoritiesasleadingtomoralturpitudeordecadenceorincitecaste/communaltensions, lotteries/sweepstakes&gamesofchance;
37. IfYoudealinintangiblegoods/services(eg.softwaredownload/health/beautyproducts),andbusinesses involvedinpyramidmarketingschemesorget-rich-quickschemesandanyotherproductorservice,whichin thesoleopinionofeitherthepartnerbankortheacquiringbank,isdetrimentaltotheimageandinterestsof eitherofthem/bothofthem,ascommunicatedbyeitherofthem/bothofthemtoYoufromtimetotime.This shallbewithoutprejudicetoanyothertermsandconditionsmentionedintheseTerms;
38. Mailinglists;
39. Virtualcurrency,cryptocurrencyandothercryptoproducts(likenon-fungibletokensorNFTs),prohibited investmentsforcommercialgainorcreditsthatcanbemonetized,re-soldorconvertedtophysicalordigital goodsorservicesorotherwiseexitthevirtualworld;
40. Moneylaunderingservices;
41. Databaseproviders (for tele-callers);
42. Bidding/auctionhouses;
43. ActivitiesprohibitedbytheTelecomRegulatoryAuthorityofIndia;
44. Anyotheractivities prohibitedbyApplicable Laws;
45. Entitiesoperatingas chitfunds/nidhi companies(exceptgovernment orpublic sectorunit(PSU) entities);
46. Unregulated/unlicensedmoneyservicebusiness(MSB)ormoneyandvaluetransferservices(MVTS) likeexchangehouses,remittanceagentsorindividualsrunningsuchbusinessesinjurisdictionsthatrequire license for such businesses.

Theabovelistissubjecttoupdates/changesbyRazorpaybasedoninstructionsreceivedfromFacility Providers.

18.    DEFINITIONS:

• “AD-1Bank”meansascheduledcommercialbankinIndiawhichisauthorizedundertherelevant legislationtoundertakeallcurrentandcapitalaccounttransactionsaccordingtothedirectionsissuedbythe
• “Affiliate”shallmeananyentitythatdirectlyorindirectlycontrols,iscontrolledby,orisunder commoncontrolwithRazorpay,whereby“control”(including,withcorrelativemeaning,theterms “controlledby”and“undercommoncontrol”)meansthepossession,directlyorindirectly,ofthepowerto direct,orcausethedirectionofthemanagementandpoliciesofsuchperson,whetherthroughtheownership ofvotingsecurities,bycontract,orotherwise.
• “ApplicableLaws”shallmean(i)anylaw,statute,rule,regulation,order,circular,decree,directive, judgment,decisionorothersimilarmandateofanyapplicablecentral,national,stateorlocal governmental/regulatoryauthorityhavingcompetentjurisdictionandforceoflawover,orapplicabletoYou, usorthesubjectmatterinquestion,asmaybeamendedfromtimetotime,and(ii)shallwithoutlimitation includeanynotification,circular,directiveorothersimilarinstructionissuedbythe‘FinancialSector Regulators’includingbutnotlimitedtotheReserveBankofIndia(RBI)and/orrules,regulations,roles, responsibilitiesandprocessesasdefinedbyNPCIontheirnpci.org.in.
• “Chargeback”shallmeanthereversal(suchreversalbeingrequestedbyaFacilityProviderpursuantto arequestfromtheFacilityProvider’scustomer)ofthedebitoftheTransactionAmountthatwaschargedby You,wherethereversalisapprovedbytheFacilityProviderfollowingexaminationoftheTransactionrelated

documentsandinformationfurnishedbyYou,consequentlyresultinginRazorpaybeingchargedthe TransactionAmountandcharges,penaltiesorfinesassociatedwithprocessingtheChargeback.

• “ChargebackAmount”shallmeantheaggregateamountthattheFacilityProviderchargesRazorpay pursuant to a Chargeback.
• “ChargebackDocuments”1ofPartI:SpecificTerms forOnlinePaymentAggregationServices.
• “ChargebackRequest”meansaclaimforChargebackbytheFacilityProvider’scustomer.
• “Claims”meansanyclaimassertedagainsttheMerchant,thatispaidorpayabletoathirdparty pursuanttoanorderofacourtoflaw,judicialandquasi-judicialauthorities.
• “Customer”meanstheMerchant’scustomerwhowillbemakingpaymentstotheMerchantin considerationforgoods/servicesavailedofbythecustomerfromtheMerchant.
• “Device”meansthepointofsale(POS)ormobilepointofsale(mPOS)devicesonwhichthe Razorpay POS Software is enabled.
• “EscrowAccount”isanaccountheldbyRazorpaywithanEscrowBankforthepurposeofreceiving theTransactionAmountandeffectingsettlementstoYou.
• “EscrowBank”meansabankthatisauthorisedbytheRBI,tooperateanEscrowAccountunderthe PaymentAggregation Guidelines.
• “EscrowBankWorkingDays”meansdaysonwhichtheEscrowBankisoperationaltoundertake settlements.
• “FacilityProviders”shallmeansbanks,financialinstitutions,NPCI,technologyserviceproviders,or otherthirdpartiesfacilitatingtheprovisionsofServicesoranypartthereof,includingbutnotlimitedto(a) acquiringbanks,(b)banksissuingcreditcards,debitcards,prepaidinstrumentsandaccounts,and(c)card payment networks.
• “FeeCredit”5ofPartI:SpecificTermsforOnline Payment Aggregation Services.
• “ImportCollectionAccount”or“ICA”meansthecurrentaccountopenedandmaintainedbyRazorpay withanAD-1bank,asperPA-CBforthepurposeofsettlementofmoniesreceivedfromtheCustomers
• “KYCGuidelines”meansKYCnormsassetoutintheMasterDirection-KnowYourCustomer,2016 MasterDirection DBR.AML.BC.No.81/14.01.001/2015-16,totheextentapplicabletotheServicesandasmaybedetermined byRazorpayortheFacilityProviders.KYCmeansknow-your-customer.
• “NPCI”meanstheNationalPaymentsCorporationofIndiaconstitutedpursuanttotheprovisionsof thePaymentandSettlementSystemsAct,2007.
• “OFAC”meanstheOfficeofForeignAssetsControlconstitutedunderthelawoftheUnitedStatesof America.
• “PaymentAggregator Guidelines”means the RBI circular DPSS.CO.PD.No.1810/02.14.008/2019-20 datedMarch17,2020,includinganyamendments,clarifications,FAQs,etc.whichmaybeissuedfromtime to time.
• “PaymentAggregator–CrossBorderGuidelines”or“PA–CB”means,asapplicable,RBIcircular DPSS.POLC.No.S-786/02-14-008/2023-24datedOctober31,2023includinganyamendments, clarifications,FAQs,etc.whichmaybeissuedfromtimetotime.

• “PaymentInstrument”includescreditcard,debitcard,bankaccount,prepaidpaymentinstrumentor anyotherinstrumentissuedunderApplicableLaw,usedbyacustomertopaytheTransactionAmount.
• “PermissibleDeductions”means(a)feeschargedbyRazorpay;(b)ChargebackAmountincluding finesandpenalties;and(c)anyothersumdueandpayablebyYoutoRazorpay.
• “Refund”meansprocessingofYourrequesttoRazorpay,forreturningtheTransactionAmount(orpart thereof)tothePaymentInstrumentwhichwasusedforeffectingthepaymentoftheTransactionAmount.
• “RBI”shallmeantheReserveBankof
• “TerminalID(TID)”shallmeananuniquenumberassignedtoaMerchantthatissetupinthe TIDsmayalsobeassociatedwithanyDeviceatthediscretionofRazorpayandthe Merchant.AnyDevicecanbedeactivatedatanytimeattherequestoftheMerchant.
• “Transaction”meansanorderorrequestplacedbythecustomerwithYou(orathird-partyvendor availingofYourservices)forpurchasinggoods/servicesfromYou,whichresultsinadebittothecustomer’s Payment Instrument.
• “TransactionAmount”

PARTB:SPECIFICTERMSAND CONDITIONS

PARTI-SPECIFICTERMSFORONLINEPAYMENT AGGREGATIONSERVICES

1. PAYMENTPROCESSING
   • SubjecttoPartA:GeneralTermsandConditionsinconjunctionwithPartI:SpecificTermsforOnline PaymentAggregationServices,Razorpayshallfacilitatecollectionofonlinepaymentsforproducts/services soldbyYou.YouagreethatwhereanysettlementamountislessthanRupee1,Razorpayshallendeavourto, butisnotobligatedtoYou,makesuchsettlement.
   • SubjecttoClause2and3ofPartI:SpecificTermsforOnlinePaymentAggregationServices,Specific TermsforOnlinePaymentAggregationServices,RazorpayshallsettletheTransactionAmount(netof PermissibleDeductions)intoyouraccountasperagreedtimelinesincompliancewiththePA/PGguidelines. TheMerchantacknowledgesandagreesthattheforegoingissubjecttocreditto/receiptoffundsby RazorpayintheEscrowAccountfromacquiringbanksorgateways.
   • IfRazorpaysettlestheTransactionAmountunderPartA:GeneralTermsandConditionsorPartB: SpecificTermsandConditions,atanearliertimethanagreedabove,Razorpayshallhaveanabsoluterightto recovertheTransactionAmountforthwithifthesameisnotreceivedintheEscrowAccountwithinthree(3) EscrowBankWorkingDaysfollowingthedateoftheTransactionforanyreasonwhatsoever.
   •  
   • YoumaychoosetopurchaseFeeCreditsfromRazorpayinrespectoftheServicesbeingrenderedunder PartI:SpecificTermsforOnlinePaymentAggregationServices.Itisagreedthatinrespectofeach Transaction,RazorpayshallbeentitledtodeductanamountequivalenttoRazorpayfeesalongwith applicabletaxesfromtheFeeCredit.YouagreethatifsufficientfundsarenotavailableintheFeeCredits, thenRazorpayshallbeentitledtodeductRazorpayfeesalongwithapplicabletaxesfromtheTransaction “FeeCredits”arethecreditsusingwhichYoumayreceivethefullsettlementamountwithoutany feededuction.Forexample,ifYouhaveaFeeCreditofINR100thenalltheTransactionswillbesettledin fullandthefeesforthesepaymentswillbedeductedfromtheFeeCreditofINR100.

• YouagreethatRazorpayshallbeentitled,atitssolediscretion,torecoveranyamountsfromYouthatare chargedtoRazorpayand/ordebitedbyFacilityProvidersfromaccountsmaintainedbyYouoranyreason attributabletotheprovisionofServicestoYoubywayofdeductionfrom(i)theTransactionAmounttobe settledtoYouand/or(ii)anyofYourotherfundsheldbyRazorpayinthecourseofprovidingtheServices.In theeventsuchset-offorrecoverydoesnotfullyreimburseRazorpayfortheliabilityowed,Youshallpay
• YouherebyacknowledgeandagreethatincaseofreversalofTransactionAmounttoRazorpay’sEscrow Accountduetoanyreason,includingbutnotlimitedtoyourbank(whereyoursettlementaccountresides) rejectingacceptanceoftheTransactionAmountforanyreasonwhatsoever,Razorpaymayrefundthemonies
• NotwithstandinganythingsetforthintheTerms,Youacknowledge,agreeandaffirmthatintheevent Razorpayinitsabsolutediscretiondeterminesthat,forreasonsincludingbutnotlimitedtointernaldecisions orregulatorymandates,itisnotfeasibleorsuitabletosettlethefundsheldintheRazorpay’sEscrowAccount toyou,Razorpayreservestherighttowithholdsuchsettlementandaftergivingpriornoticetoyou,shall refundthesaidamountbacktothesourceaccountfromwhichitwasreceived.
• Merchantherebyconsentsandconfirmsthat,whereanybankasapaymentaggregator/payment facilitatortakesRazorpayservicesforprocessingsettlementoffundsforsuchMerchant,actingasRazorpay’s partnerbank,theMerchantauthorizesRazorpaytomakesettlementstosuchpartnerbankoranythirdparty, wherebyMerchantgivesitsinstructionstosucheffecteitherdirectlytoRazorpayortosuchpartnerbank Additionally,theMerchantunderstandsand agreesthatRazorpaymaycarryoutKYCprocedureforthesaidMerchantthroughanypermissiblemeans.

2.    CHARGEBACKS

• IfaFacilityProvidercommunicatestoRazorpaythereceiptofaChargebackRequest,Youwillbe notified of the Chargeback.You agree that liability for Chargeback, whether domestic or international, under YoufurtheragreethatitisYoursolediscretionwhethertoavailnon-3D secureservicesornotandadditionaltermsforthesamewillapplyassetoutintheMerchantdashboard. Subjecttoavailabilityoffunds,RazorpayuponreceiptofaChargebackRequestshallforthwithdeduct ChargebackAmountfromtheTransactionAmounts,whichmaybeused,basedonthedecisionoftheFacility Provider,eithertoa)processChargebackinfavourofthecustomerorb)credittoYou.Fortheavoidanceof doubt,RazorpayshallbeentitledtodeducttheChargebackAmountuponreceivingaChargebackclaim.You shallbeentitledtofurnishtoRazorpaydocumentsandinformation(“ChargebackDocuments”)pertainingto theTransactionassociatedwiththeChargebackRequestinordertosubstantiate(i)thecompletionofthe aforesaidTransaction;and/or;(ii)deliveryofgoods/servicessoughtbythecustomerpursuanttothesaid Transaction.YoushallfurnishtheChargebackDocumentswithinthree(3)calendardays(orsuchother periodspecifiedbytheFacilityProvider)ofreceivingnotificationoftheChargebackRequest.
• Youagreethat(i)ifYouareunabletofurnishChargebackDocuments;and/or;(ii)theFacilityProvider isnotsatisfiedwiththeChargebackDocumentsfurnishedbyYou,thentheFacilityProvidershallbeentitled toorderRazorpaytoeffectareversalofthedebitoftheChargebackAmountassociatedwiththeChargeback suchthatthesaidChargebackAmountiscreditedtothecustomer’sPaymentInstrument.
• Notwithstanding anything in theseTerms, if the Facility Providers charge the ChargebackAmount from RazorpaythenYouagreeandacknowledgethatRazorpayisentitledtorecoversuchChargebackAmount fromYoubywayofdeductionfrom(i)theTransactionAmountstobesettledtoYouand(ii)anyofYour Providedhowever,iftheavailable TransactionAmountsorotherfundsareinsufficientfordeductionoftheChargebackAmount,thenRazorpay isentitledtoissueadebitnoteseekingreimbursementoftheChargebackAmount.Youshallreimbursethe ChargebackAmountwithinseven(7)daysofreceiptofthedebitnote.
• OntheissuanceofnoticeofterminationundertheTerms,Razorpayreservestherighttowithholdfrom eachsettlementmadeduringthenoticeperiod,asumcomputedbasedonaStipulatedPercentage(defined hereinbelow)foraperiodofonehundredandtwenty(120)days(“WithholdingTerm”)fromthedateof ThesumssowithheldshallbeutilizedtowardssettlementofChargebacks.After

processingsuchChargebacks,Razorpayshalltransfertheunutilizedamounts,ifany,toYouforthwithupon completionoftheWithholdingTerm.The‘StipulatedPercentage’istheproportionoftheChargeback AmountsoutofthetotalTransactionAmountssettledduringthesubsistenceoftheseTerms.

• NotwithstandinganythingintheTerms,iftheamountwithheldpursuanttoclause2.4aboveis insufficienttosettleChargebacksAmountsreceivedduringtheWithholdingTerm,thenRazorpayisentitled toissueadebitnoteseekingreimbursementoftheChargebackAmount.YoushallreimbursetheChargeback Amountwithinseven(7)daysofreceiptofthedebitnote.
• ThefollowingappliesforChargebacksassociatedwithEMIproductswhicharesupportedbyFacility Providers.Foranyloancancellationrequests,YouneedtorespondtoRazorpaywithinseven(7)working dayswithasuitableresponse.Ifloanistobecancelled,thenthesameneedstobeinformedtoRazorpayand Forloans whichwouldgetcancelledonthebasisofYourconfirmation,theamountwouldberecoveredfromthedaily settlement.

3.    REFUNDS

• YouagreeandacknowledgethatsubjecttoavailabilityoffundsreceivedintheEscrowAccount,Youare
• YoufurtheragreeandacknowledgethatinitiationofRefundsisatYourdiscretionandRazorpayshall
• AllRefundsinitiatedbyYoushallberoutedtothesamepaymentmethodthroughwhichtheTransaction was processed.
• YouagreethatRazorpayfeesshallalwaysbeapplicableandpayablebyYouoneachTransaction irrespectiveofwhetherYouhaverefundedthesametoYourcustomereitherthroughnormalchannelsof refundsorthroughtheinstantrefundserviceofRazorpayaffiliate(ifavailed).
• YouacknowledgeandagreethatforpaymentsthatarelateauthorizedbutnotcapturedbyYou,Razorpay mayinitiateauto-refundtothecustomerwithinfive(5)days.

4.    FRAUDULENTTRANSACTIONS

• 1and2.2ofthisPartI:SpecificTermsforOnlinePaymentAggregationServices,if Razorpayisintimated,byaFacilityProvider,thatacustomerhasreportedanunauthoriseddebitofthe customer’sPaymentInstrument(“FraudulentTransaction”),theninadditiontoitsrightsunderclause16of PartA: GeneralTerms and Conditions, Razorpay shall be entitled to suspend settlements toYou during the pendencyofinquiries,investigationsandresolutionthereofbytheFacilityProviders.
• IftheamountinrespectoftheFraudulentTransactionhasalreadybeensettledtoYoupursuanttothese Terms,anydisputearisinginrelationtothesaidFraudulentTransaction,followingsettlement,shallbe resolvedinaccordancewiththeRBI’snotificationDBR.No.Leg.BC.78/09.07.005/2017-18,datedJuly6, 2017readwithRBI’snotificationDBOD.LEG.BC86/09.07.007/2001-02datedApril8,2002andother notifications,circularsandguidelinesissuedbytheRBIinthisregardfromtimetotime.
• 2above,iftheFraudulentTransactionresultsinaChargeback,thensuchChargeback shallberesolvedinaccordancewiththeprovisionssetoutintheTerms.
• YouacknowledgethatRazorpayshallnotberesponsibleforanyliabilityarisinginrespectofFraudulent
• YoushallbeliableintheeventofbreachofthefraudamountthresholdsasprovidedundertheNPCI guidelineon‘FraudliabilityguidelinesonUPItransactions’NPCI/2022-23/RMD/001.Youhereby understandandagreethatthedecisionoftheNPCIortheconcernedacquiringbank,asthecasemaybe,shall be final and binding.

5.    GENERAL

• IntheeventofanyconflictbetweenPartA:GeneralTermsandConditionsandPartB:SpecificTerms andConditions,PartB:SpecificTermsandConditionsshallprevail.Tothemaximumextentfeasible,they shall be construed harmoniously.
• CapitalisedtermsusedbutnotdefinedinthisPartI:SpecificTermsforOnlinePaymentAggregation ServicesofPartBshallhavethemeaningascribedtosuchtermsinPartA:GeneralTermsand
• Clauses2and4ofPartI:SpecificTermsforOnlinePaymentAggregationServicesofPartBshall
• YouherebyconsentforRazorpaytoshareYourinformation/data,includingactivityrelatedinformation andpersonalinformation,withitsAffiliates,for(i)theAffiliatestofacilitateaccessto/marketalongwith Razorpay,suchproductsandservicesastheAffiliatesmaydeemYoueligible;and/or(ii)tosharesuch informationwithFacilityProviders(suchasbanks,NBFCs)associatedwiththeAffiliates,forsuchFacility Torevokeormodifysuchconsent pleasereachouttosupport.razorpay.com.
• YouherebyagreeandconfirmthatincaseYouhaveoptedforaloan/lineofcreditoranyothersimilar productthroughRazorpay’saffiliates/groupcompanies,anditsFacilityProviders/lendingpartners,You herebyacknowledge,confirm,agreeandprovideunconditionalconsentthatRazorpaymayfacilitateits affiliates/groupcompanieswhichreservetherighttorecovertheoutstandingduesfromthepositivebalance DependingonthetypeofloanproductoptedbyYou:(i)whereNACH mandateprovidedbyYouasthefirstmodeofrepaymentfailsduetoinsufficientbalance,recoveryshall happen from your positive balance maintained with Razorpay, providedYou have not completed repayment tolendingpartnerofRazorpayaffiliate/groupcompaniesthroughanyothermode;or(ii)whereyourpositive balanceisfirstmodeofrepayment,recoveryshallhappenfromthesame.
• YouherebyagreethatRazorpaymaydeductamountsfromYoursettlementaccountinaccordancewith instructionsprovidedbyYoutoRazorpay.Razorpaymayfirstdeductitsfeesandotherliabilities,including butnotlimitedtochargebacks,fines,andpenaltiesfollowedbyotherdeductions,basedonthechronological

6.    COMPLIANCEWITHPAYMENTAGGREGATOR GUIDELINES

• Yourepresentandwarrantthat(i)YoushallduringtheentiretermoftheusageoftheServices, implement,observeandcomplywithapplicablerequirementsprescribedunderApplicableLaws,including butnotlimitedtotheprovisionsofthePaymentAggregatorGuidelines.YoushallfurtherensurethatYour operationsareincompliancewiththePaymentAggregatorGuidelinesandYoushallnotundertakeanyaction inbreachofthesame(ii)YoushallonYourwebsite/webapp/mobilesite/mobileappclearlyindicate/display

(a)thereturnandrefundpolicyofYourproducts/servicestoYourcustomers,includingthetimelinesfor processingsuchreturns,refundsorcancellations;and(b)thegeneraltermsofuseandconditionsofuseby Yourcustomers.YoushallensurethatYoudeliverproductsandservicesinaccordancewithinstructionsof thecustomers.(iii)Youshallatnotimehold,store,copyorkeepanycustomerdatarelatingtoacustomer’s PaymentInstrumentandshallnotifyinwritingtoRazorpaywithoutanydelayifYoususpectorhavebecome awareofapossiblesecuritybreachrelatedtoanycustomerdata.(iv)Youshallnotstoreanydatapertaining tothePaymentInstrument/customerPaymentInstrumentcredentials.Ondemand,Youshallprovidea writtenconfirmation,inaformandmanneracceptabletoRazorpayandFacilityProviders,certifying compliance to this aspect.

• Youshallsetupacomprehensivecustomergrievanceredressalmechanismwhichprovidestheprocedure foraddressingcomplaintsreceivedfromYourcustomerandYoushallincludethedetailsoftheperson designatedbyYouforhandlingsuchcustomercomplaints.Itisclarifiedthatsuchcustomergrievance redressalmechanismshallprovidethefacilitytothecustomersforregisteringtheircomplaintsoverphone, email,oranyotherelectronicmeans.YoushallrespondtosuchgrievancesorcomplaintsreceivedfromYour

customerswithinaperiodof5(five)businessdaysfromthedateofreceivingsuchgrievanceorcomplaint. YoushallbesolelyresponsibleforsortingorhandlinganycomplaintsreceivedagainstYou.

• Youshallcomplywithorenterintoanagreementwithathirdpartyserviceproviderofpayment processingservicesforcompliancewiththePaymentCardIndustryDataSecurityStandard(“PCIDSS”),as maybeamendedfromtimetotime,andthePaymentApplication-DataSecurityStandard(“PA-DSS”),if YoushallalsosubmitanannualreportinwritingtoRazorpaysignifyingproofofcompliancewith theabove.IfYoubecomeawarethatYouwillnotbeorarelikelynottobe,incompliancewithPCIDSSor PADSSforanyreason,YouwillpromptlyreportinwritingtoRazorpaysuchnon-complianceorlikelynon- compliance.
• YoushallprovideRazorpaywithevidenceofcomplianceslistedinthisclause6atRazorpay’srequest andprovide,ormakeavailable,toRazorpaycopiesofanyaudit,scanningresultsorrelateddocuments Notwithstandingtheabove,Razorpayshallhavetherighttoconductasecurity audittocheckYourcompliancewiththisclause6andinsuchcases,Youshallextendfullcooperationto Razorpayanditsrepresentativessoastoenablethemtoconducttheaudittotheirsolesatisfaction.
• Youagreetoimplement,maintainandenforceappropriatemeasuresforthesecurityandprivacyof Youshallpromptlyreportsecurityincidentsorbreaches involving customer data to https://razorpay.com/grievances/.

7.    SERVICEDESCRIPTIONS

7.1Optimizer

Forthe purpose of these services, unless the context otherwise requires:

• “OptimizerServices”meansatechnologysolutiondevelopedbyRazorpaywhichenablesYoutoroute This solutionisasoftwarelayerontopofYourpaymenttorouteeverypaymentrequestreceivedforYourunique id,basedontherulescreatedbyYouonOptimizer’smerchantfacingdashboard.
• “OptimizerTransaction”meansanytransactionroutedbyYouthroughtheOptimizerServices,which involvesanorderorrequestplacedbythecustomerwithYoubypayingtheOptimizerTransactionAmountto You,whileusingtheservicesofanypaymentgatewayorpaymentaggregator.
• “OptimizerTransactionAmount”meanstheamountpaidbythecustomertoYouwhichisthenrouted
• YouagreethattheOptimizerServicesarebeingprovidedbyRazorpaysolelyasasoftwareasasolution (SaaS)provider.TheOptimizerServicesareindependentandseparatefromtheotherServicesbeingprovided toYou.Itisclarifiedthat,fortheseOptimizerServices,Razorpay’srolewillstrictlybethatofaSaaSprovider
• YouherebyconsentRazorpaytouseorprocessanytypeofdatasharedbyYoufortheprovisionofthe Optimizer Services.
• Razorpayshallhave theright tocharge additionalfees forprovision ofthe OptimizerServices.
• YoushallforYouromission/commissionindemnifyandholdRazorpay,itsdirectors,managers,officers, employeesandagentsharmlessfromandagainstalllossesarisingfromclaims,demands,actionsorother proceedingsasaresultofdisputesorclaimsraisedbyanypaymentgateway/paymentaggregatorinrelation to Optimizer Services.

7.2. ValueAddedServices

• Youmayoptforcertainvalueaddedservicesavailableonthedashboardwhichwillbesubjecttoan additionalchargetobeagreeduponbytheparties.Suchchargesaretobepaidonamonthly/quarterly/ Youherebyconsentthatpaymentstowardssuch

valueaddedservicesshallbedeductedfromthesettlementamountpayablefromEscrowAccountunderthese Terms.

• Inadditiontotheabove,YouacknowledgethatRazorpayprovidesasavalueaddedservicecertain customisabletemplatesforwebsitetermsofuseandconditions,returnandrefundandshippingpolicy, privacypolicy,etc.(together,“CustomisableTemplates”)whichYoumaychoosetousetodisplayonYour website/webapp/mobilesite/mobileapp/otherdigitalappinordertocomplywithYourobligationsunder Youacknowledgeandagreethat:(a)theCustomisableTemplatesare availableduringtheonboardingprocesstobeusedatYoursolediscretion;(b)Razorpayprovidesthe CustomisableTemplatesonan“asis”basis;and(iii)Yourepresentandwarrant(i)thatitisYoursole responsibility to verify the suitability of the CustomisableTemplates forYour products/services, (ii) thatYou havesoughtindependentlegaladvicepriortousingtheCustomisableTemplates,(iii)thatYouabsolve RazorpayofanyliabilityarisingfromtheuseoftheCustomisableTemplates,(iv)thatYouhavereadand modifiedthe CustomisableTemplates as necessary before publishing onYour website / web app / mobile site

/mobileapp.NotwithstandinganythingtothecontraryintheseTerms,Razorpayexpresslydisclaimsall liabilityinrespectofanyactionsoromissionsbasedonanyoralloftheCustomisableTemplates.Razorpay doesnotnecessarilyendorseandisnotresponsibleforanythird-partycontentthatmaybeaccessedthrough the Customisable Templates.

8.    SPECIFICTERMSFORSNRRMERCHANTS

YouagreethatthefollowingtermsshallonlyapplyincaseYouholdaSpecialNon-ResidentRupeeAccount (“SNRRAccount”)pursuanttotheRBI‘MasterDirection-DepositsandAccounts’datedJanuary1,2016 andCircularon‘Non-residentRupeeAccounts–ReviewofPolicy’datedNovember22,2019detailed hereinbelow.

• AnypersonresidentoutsideIndia,havingabusinessinterestinIndiashallopenanSNRRAccountwith anauthoriseddealerforthepurposeofputtingthroughbonafidetransactionsinrupees,notinvolvingany violation of provisions ofApplicable Laws.The business interest, apart from generic business interest, shall includethefollowingINRtransactions,namely:-

• InvestmentsmadeinIndiainaccordancewithForeignExchangeManagement(Non-debtInstruments) Rules,2019datedOctober17,2019andForeignExchangeManagement(DebtInstruments)Regulations, FEMA396/2019-RBdatedOctober17,2019,asapplicable,asamended from time to time;
• ImportofgoodsandservicesinaccordancewithSection5oftheForeignExchangeManagementAct 1999(42of1999),readwithNotificationNo.G.S.R.381(E)datedMay3,2000,viz.,ForeignExchange Management(CurrentAccountTransaction)Rules,2000,asamendedfromtimetotime;
• ExportofgoodsandservicesinaccordancewithSection7oftheForeignExchangeManagementAct 1999(42of1999),readwithNotificationNo.G.S.R.381(E)datedMay3,2000,viz.,ForeignExchange Management(CurrentAccountTransactions)Rules,2000,asamendedfromtimetotime,andfurtherread 23(R)/2015-RBdatedJanuary12,2016,asamendedfromtimetotime;
• TradecredittransactionsandlendingunderExternalCommercialBorrowings(ECB)frameworkin accordancewithForeignExchangeManagement(BorrowingandLending)Regulations,2018,asamended from time to time; and
• BusinessrelatedtransactionsoutsideInternationalFinancialServiceCentre(IFSC)byIFSCunitsatGIFT citylikeadministrativeexpensesinINRoutsideIFSC,INRamountfromsaleofscrap,government incentivesinINR,etc.TheaccountwillbemaintainedwithabankinIndia(outsideIFSC).
  • Indianbanksmay,atitsdiscretion,maintainaseparateSNRRAccountforeachcategoryoftransactionsora singleSNRRAccountforapersonresidentoutsideIndiaengagedinmultiplecategoriesoftransactions provideditisabletoidentify/segregateandaccountthemcategory-wise.

• YoushallensurethattheoperationsintheSNRRAccountshallnotresultintheaccountholdermaking availableforeignexchangetoanypersonresidentinIndiaagainstreimbursementinrupeesorinanyother manner.
•  
• ThedebitsandcreditsintheSNRRAccountshallbespecific/incidentaltothebusinessproposedtobe done by the account holder.
• ThetenureoftheSNRRAccountshallbeconcurrenttothetenureofthecontract/periodofoperation/ ApprovaloftheRBIshallbe obtainedincasesrequiringrenewal,providedtherestrictionofsevenyearsshallnotbeapplicabletoSNRR accountsopenedforthepurposesstatedatsub.paragraphsitovofparagraph1ofSchedule4ofRegulation 5(4)ofForeignExchangeManagement(Deposit)Regulations,2016.
• AlltheoperationsintheSNRRAccountshallbeinaccordancewiththeprovisionsoftheAct,rulesand regulations made thereunder.
•  
• YoushallnottransferfromanyNon-ResidentOrdinaryaccount(“NRO”)accounttotheSNRRAccount.
• Alltransactions intheSNRRAccount shallbesubject topaymentofapplicable taxesinIndia.
•  
• Theamountdue/payabletonon-residentnomineefromtheaccountofadeceasedaccountholder,shall becreditedtoNROaccountofthenomineewithanauthoriseddealer/authorisedbankinIndia.
• ThetransactionsintheSNRRAccountshallbereportedtotheRBIinaccordancewiththedirections issued by it from time to time.
• YoushallensurethatYouhavepriorapprovalofRBIincaseYouhaveentitiesincorporatedinPakistan and/orBangladeshorYouareaPakistanorBangladeshnational.

9.    SPECIFICTERMSFORGAMINGMERCHANTS

ThesetermsinthissectionshallonlyapplyifYouareagamingmerchant.

• YourepresentandwarranttoRazorpaythat:

• YoudonotengageinanyactivitythatviolatesanyApplicableLawpertainingtogaming,gambling, betting or wagering.
• NoservicesprovidedbyYoutoanycustomer(“MerchantServices”)areofanaturethatmaybe construedasacompetition/contest/game/sport/event(onlineoroffline)whoseoutcomeisbasedmerelyor
• TheMerchantservicesareatalltimesincompliancewithallApplicableLawsincludingpertainingto restrictionorprohibitionongambling,betting,wageringandgamingactivities.
• TheprovisionoftheMerchantServicestocustomersinthestatesofNagalandandSikkim(ifsoprovided) areinaccordancewiththeApplicableLawsofthesestatesandYouhaveobtainedandholdallnecessaryand
• NoMerchantservicesincludingfacilitation,hostingorprovidingaplatformforany competition/contest/game/sport/event(onlineoroffline)formoniesarerenderedbyitto(i)anycustomersin thestatesofTelangana,OdishaandAssamor(ii)anycustomerswhoareresidentsofthestatesofTelangana, Odisha and Assam.

• 1.aboveshallberepeatedoneachdayduringthe term of these Terms.
• YouherebyagreeandundertaketoprovideatthetimeofcommencinguseoftheServicesawritten confirmation,inaformandmannersetoutbelow,certifyingthattherepresentationsandwarrantiessetoutin 1abovearetrueandcorrect.Youagreethatwemayrequireyoutoprovideafreshconfirmationon demandatanytimeduringYouruseoftheServices.
• NotwithstandinganyotherprovisionoftheTermsforgamingmerchants,Youshallindemnifyandhold Razorpay,itsaffiliates,andeachoftheirdirectors,managers,officers,employeesandagentsharmlessfrom andagainstalllosses(includinganylossesthatarespecial,incidental,indirect,consequential,exemplaryor punitivein nature) arising from claims, demands, actionsor other proceedings as a result ofor on account of

(a)anyofYourrepresentationsorwarrantiesassetoutinClause9.1abovebeingbreachedorbecoming untrueorincorrect,or(b)YourengagementinanyactivitythatviolatesanyApplicableLawpertainingto gaming,gambling,bettingorwagering.

FormofUndertakingforgamingmerchants

LETTEROFUNDERTAKING

 

(On merchant’s letterhead) Date:

To,

Razorpay Software Private Limited, SJR Cyber, 1st Floor,

22Laskar-HosurRoad,Adugodi,Bangalore – 560030

Subject:Undertakingtocomply,stayfullycompliantfromtimetotime,withapplicablelaws,includingbut notlimitedto,gaminglaws,rules,regulations,amongothers.

Sir/Madam,

M/s___________ <pleaseaddmerchant’sname>(‘Merchant’,“We”)representandwarranttoRazorpay

SoftwarePrivate Limited andits affiliates (‘Razorpay’)that:

• Weshall comply with all applicable KnowYour Customer (KYC) norms and/or rules and/or regulations andAnti-MoneyLaundering(AML)standardsunderthePreventionofMoneyLaunderingAct,2002.Inthis regard,anynoticereceivedorsubsistingfromanygovernmentalauthoritiesshallimmediatelybeforwarded to Razorpay.
• Noservicesprovidedbyusand/ortoanyofourcustomers(“MerchantServices”)areofanaturethatmay beconstruedasacompetition/contest/game/sport/event(onlineoroffline)whoseoutcomeisbasedmerelyor
• TheMerchantServicesareatalltimesincompliancewithallapplicablelaws,rulesandregulations, includingpertainingtorestrictionand/orprohibitionongambling,betting,wageringandgamingactivities. TheMerchantundertakestostaycompliant,fromtimetotime,initsduecourseofengagementwith
• The provision of the Merchant Services to our customers in certain specific states of India are in accordancewiththeapplicablelaws,rulesandregulationsofthosestatesandtheMerchanthasobtainedand

holds all necessaryand valid licensesand/or permissions and/orregistrations to thateffect.

• NoMerchantServicesincludingfacilitation,hostingorprovidingaplatformforany competition/contest/game/sport/event(onlineoroffline)formoniesarerenderedbyusto(i)anycustomersin thosestateswhereitisnotpermittedbyanyapplicablelawsorgovernmentalaction(‘RestrictedStates’)(ii) anycustomerswhoareresidentsoftheRestrictedStates.
• TheMerchantshallindemnifyandholdRazorpay,itsAffiliates,andeachoftheirdirectors,managers, officers,employeesandagentsharmlessfromandagainstalllossesarisingfromclaims,demands,actionsor otherproceedingsasaresultoforonaccountofanyoftherepresentationsorwarrantiesoftheMerchantas
• Thisletterofundertakingshallbereadharmoniouslywithotheragreements,ifany,betweenMerchantand

Yourssincerely,

For(Merchant’sname)

Name of theAuthorised Signatory DesignationoftheAuthorisedSignatory

Part IB: SPECIFIC TERMSAND CONDITIONSFOR ONLINE PAYMENTAGGREGATION(CROSSBORDER)SERVICES

IfYouareaMerchantincorporatedoroperatingfromoutsideIndiaandintendtoreceivepaymentsfrom CustomerslocatedinIndia,thefollowingtermsshallapplytoyouinsteadofPartIA.

1.    PAYMENTPROCESSING

• SubjecttoPartA:GeneralTermsandConditionsinconjunctionwithPartI:SpecificTermsforOnline PaymentAggregation(CrossBorder)Services,Razorpayshallfacilitatecollectionofonlinepaymentsfor products/servicessoldbyYou.YouagreethatwhereanysettlementamountislessthanRupee1,Razorpay shallendeavourto,butisnotobligatedtoYou,makesuchsettlement.
• SubjecttoClauses2,3,4and5oftheseTerms,RazorpayshallsettletheTransactionAmount,netof applicablefees,charges,taxes,andotherpermissibledeductions(“PermissibleDeductions”),intoYour designatedaccountwithinfive(5)EscrowBankWorkingDaysfromthedateoftheTransaction.
• Youshall,withinthree(3)daysfromthedateofrequest,provideallnecessarytransaction-related documentsincludingbutnotlimitedtodigitalinvoices,transportdocuments,andanyotherinformationor documentationasmayberequestedbyRazorpayatitssolediscretion,orasmayberequiredunderapplicable lawsorbyFacilityProviders(“SupportingDocuments”)foreveryinstanceoffundrepatriation.Delayin submissionordiscrepanciesintheSupportingDocumentsmayresultinRazorpayrejectingtheTransaction YouagreethatRazorpaymayrelyontheSupporting DocumentsprovidedbyYouwithoutindependentverificationandmaysharesuchdocumentsorrelated informationwithFacilityProviders,GovernmentalAuthorities,orlawenforcementagenciesasrequired under applicable law or upon request.
• SubjecttoClauses2,3,4and8oftheseTerms,Razorpayshallinitiatethewiretransfertoremitthe TransactionAmountscollectedintheImportCollectionAccount(netofapplicablefees)toYourdesignated account.YouacknowledgeandagreethatthefinalremittanceisdependentonprocessesbeyondRazorpay’s control,andRazorpayshallnotbeliableforanydelayorlossarisingduetoanysuchdelayinfinalsettlement of funds.

• Priortosuchsettlementoffunds,Razorpayshall,ifrequired,deductapplicablewithholdingtaxesin Youshallprovidesuchsupportingdocumentationas requiredunderapplicablelaw.RazorpayshallissuequarterlyTaxWithholdingCertificates(i.e.Transaction BasedReports)toenableYoutomakeanytaxclaimsintherelevantoverseasjurisdiction.
• RazorpayshallprocesssettlementswithoutwithholdingtaxesprovidedthatYoufurnishvalid documentation,includingbutnotlimitedtoaNoPermanentEstablishment(No-PE)declarationandother certificatesordocumentsrequiredunderapplicabletaxlawsordoubletaxationavoidanceagreements (DTAAs).Intheeventataxauthorityimposesanytaxes,penalties,interestorotherchargesdueto Razorpay’srelianceonYourdocumentation,YouagreetofullyindemnifyandholdRazorpayharmlessfrom anysuchliabilities,includingassociatedcosts,expenses,andlegalfees.Youalsoagreetocooperatewith
• YouacknowledgethatnosettlementshallbemadeuntiltheImportCollectionAccountisdulycredited Razorpayshallnotbeliableforanydelaysin settlementresultingfromnon-receiptoffundsintheImportCollectionAccount.
• TheconversionshallbebasedontherateagreedbetweenYouandRazorpay.Theapplicablerateshallbethe prevailingrateasofthedateandtimeRazorpayinitiatestheactualsettlementintoYouraccount.
• IntheeventRazorpaysettlestheTransactionAmountearlierthantheagreedtimelines,Razorpayshall havetheunconditionalrighttorecovertheTransactionAmountifthecorrespondingfundsarenotreceivedin theEscrowAccountwithinthree(3)EscrowBankWorkingDaysfromthedateofTransaction.
• YourepresentandwarrantthatYouare,andshallatalltimesremain,infullcompliancewithall
• IfRazorpaymakesanysettlementorpaymentthatwasnotdue,orisinexcessoftheamountrequiredto bepaidundertheseTerms,Razorpayreservestherighttorecoversuchexcessorerroneousamountsfrom Youoranyotherappropriateparty,atitssolediscretion.
• YourepresentandwarrantthatYouhaveindependentlyassessedwhethertheservicesrenderedbyYou fallunderthedefinitionandapplicabilityofOnlineInformationDatabaseAccessandRetrieval(OIDAR) YoufurtheragreetocomplywithallapplicableGSTrequirements,including obtaining GSTregistration in India where applicable. In the event GSTregistration becomes mandatory,You shallpromptlynotifyRazorpayandprovideallrelevantregistrationdetails.

2.    CHARGEBACKS

• IfaFacilityProvidercommunicatestousthereceiptofachargebackrequestfromaCustomer,wewill Youagreethatliabilityforchargeback,whetherdomesticorinternational, undertheseTermsrestswithYou.YoufurtheragreethatitisYoursolediscretionwhethertoavailnon-3D secureservicesornot.Subjecttoavailabilityoffunds,weshall,uponreceiptofachargebackrequest,deduct thechargebackamountfromthetransactionamountswhichmaybeused,basedonthedecisionofthe FacilityProvider,eitherto(a)processchargebackinfavouroftheCustomeror(b)credittheamounttoYou. Fortheavoidanceofdoubt,weshallbeentitledtodeductthechargebackamountuponreceivinga chargebackclaim.Youshallbeentitledtofurnishuswithdocumentsandinformation(“Chargeback Documents”)pertainingtothetransactionassociatedwiththechargebackrequestinordertosubstantiate(i) thecompletionofthetransactionand/or(ii)deliveryofgoods/servicessoughtbytheCustomerpursuantto suchtransaction.YoushallfurnishtheChargebackDocumentswithinfive(5)calendardays(orsuchother periodspecifiedbytheFacilityProvider)ofreceivingnotificationofthechargebackrequest.
• Youagreethat(i)ifYouareunabletofurnishChargebackDocuments;and/or(ii)theFacilityProvideris notsatisfiedwiththeChargebackDocumentsfurnishedbyYou,thentheFacilityProvidershallbeentitledto directustoeffectareversalofthedebitofthechargebackamountsuchthatthesaidamountiscreditedtothe Customer’s payment instrument.

• Ifthechargebackissuccessful,Youagreeandacknowledgethatweareentitledtorecoversuch chargebackamountfromYoubywayofdeductionfrom(i)thetransactionamountstobesettledtoYou,and

(ii)anyotherfundsheldbyusinthecourseofprovidingtheServices.Iftheavailabletransactionamountsor otherfundsareinsufficientfordeduction,wemayissueadebitnoteseekingreimbursementofthe chargebackamount.Youshallreimbursethechargebackamountwithinseven(7)daysofreceiptofthedebit note.

• OntheissuanceofnoticeofterminationoftheseTerms,wereservetherighttowithhold,fromeach settlementmadeduringthenoticeperiod,asumcomputedbasedonaStipulatedPercentage(definedbelow) foraperiodofonehundredandtwenty(120)days(“WithholdingTerm”)fromthedateofterminationof theseTerms,whicheverislater.Thesumssowithheldshallbeutilizedtowardsettlementofchargebacks. Afterprocessingsuchchargebacks,weshalltransfertheunutilizedamounts,ifany,toYouuponcompletion The”StipulatedPercentage”referstotheproportionofthechargebackamountsout ofthetotaltransactionamountssettledduringthesubsistenceoftheseTerms.
• Notwithstandinganythingtothecontrary,iftheamountwithheldunderClause2.4isinsufficienttosettle chargebacksreceivedduringtheWithholdingTerm,weareentitledtoissueadebitnotefortheshortfall.You agreetoreimbursethechargebackamountwithinseven(7)daysofreceiptofsuchdebitnote.

3.    REFUNDS

• Youagreeandacknowledgethat,subjecttoavailabilityoffundsreceivedintheEscrowAccount,Youare
• YoufurtheragreeandacknowledgethatinitiationofrefundsisatYourdiscretionandweshallprocessa
• AllrefundsinitiatedbyYoushallberoutedtothesamepaymentmethodthroughwhichthetransaction was processed.
• YouagreethatourfeesshallalwaysbeapplicableandpayablebyYouoneachtransactionirrespectiveof whetherYouhaverefundedthesametotheCustomereitherthroughnormalrefundchannelsorviaourinstant refund service (if availed).

4.    FRAUDULENTTRANSACTIONS

• 1and2.2above,ifwearenotifiedbyaFacilityProviderthataCustomerhas reportedanunauthoriseddebitoftheirpaymentinstrument(“FraudulentTransaction”),theninadditiontoour rightsunderClause6.10oftheAgreementandtotheextentpermittedunderapplicablelaw,weshallbe entitled to suspend settlements toYou during the pendency of inquiries, investigations, and resolution thereof by the Facility Providers.
• IftheamountinrespectoftheFraudulentTransactionhasalreadybeensettledtoYoupursuanttothese Terms,anydisputearisinginrelationtothesaidFraudulentTransaction,followingsettlement,shallbe resolvedinaccordancewiththeRBI’snotificationDBR.No.Leg.BC.78/09.07.005/2017-18,datedJuly6, 2017readwithRBI’snotificationDBOD.LEG.BC86/09.07.007/2001-02datedApril8,2002andother notifications,circularsandguidelinesissuedbytheRBIinthisregardfromtimetotime.
• IftheFraudulentTransactionresultsinachargeback,thensuchchargebackshallberesolvedin accordance with Clause 2 above.
• Youacknowledgethatweshallnotberesponsibleforanyliabilityarisinginrespectofchargebacks whetherforinternationalordomestictransactions.YoufurtheragreethatYoushallbeliableintheeventof breachoffraudamountthresholdsasprovidedundertheNPCIguidelinetitled”Fraudliabilityguidelineson UPItransactions”(NPCI/2022-23/RMD/001).YouunderstandandagreethatthedecisionoftheNPCIorthe concernedacquiringbank,asthecasemaybe,shallbefinalandbinding.

5.    GENERAL

• IntheeventofanyconflictbetweenPartA:GeneralTermsandConditionsandPartB:SpecificTerms andConditions,PartB:SpecificTermsandConditionsshallprevail.Tothemaximumextentfeasible,they shall be construed harmoniously.
• CapitalisedtermsusedbutnotdefinedinthisPartI:SpecificTermsforOnlinePaymentAggregation (CrossBorder)ServicesofPartBshallhavethemeaningascribedtosuchtermsinPartA:GeneralTermsand
• Clauses2and4ofPartI:SpecificTermsforOnlinePaymentAggregation(CrossBorder)Servicesof

6.    COMPLIANCEWITHPAYMENTAGGREGATOR GUIDELINESANDPA–CB

Yourepresentandwarrantthat:

• Youshall,duringtheTerm,implement,observe,andcomplywithapplicablerequirementsprescribed underApplicableLawincludingbutnotlimitedtotheprovisionsofthePaymentAggregatorGuidelinesand PA-CB.YoushallfurtherensurethatyouroperationsareincompliancewiththePaymentAggregator GuidelinesandPA-CBandthatyoushallnotundertakeanyactioninbreachofthesame;
• Youshallonyourwebsite/webapp/mobilesite/mobileappclearlyindicate/display(i)yourreturnand refundpolicyforyourproducts/servicestoyourCustomers,includingthetimelinesforprocessingsuch returns,refunds,orcancellations;and(ii)thegeneraltermsandconditionsofusebyyourCustomers.You shallensurethatyoudeliverproductsandservicesinaccordancewithinstructionsoftheCustomers;
• Youshallatnotimehold,store,copy,orkeepanyCustomerdatarelatingtoaCustomer’sPayment Instrumentandshallnotifyusinwritingwithoutanydelayifyoususpectorbecomeawareofapossible securitybreachrelatedtoanyCustomerdata;
• YoushallnotstoreanydatapertainingtothePaymentInstrument/CustomerPaymentInstrument Ondemand,youshallprovideawrittenconfirmation,inaformandmanneracceptabletousand ourFacilityProviders,certifyingcompliancetothisaspect.
• Youshallsetupacomprehensivecustomergrievanceredressalmechanismwhichprovidestheprocedure foraddressingcomplaintsreceivedfromyourCustomersandshallincludethedetailsoftheperson Thismechanismshallprovidethefacilityto Customerstoregistertheircomplaintsoverphone,email,oranyotherelectronicmeans.Youshallrespondto suchgrievancesorcomplaintswithinfive(5)businessdaysfromthedateofreceivingthesame.
• Youshallcomplywithorenterintoanagreementwithathird-partyserviceproviderofpayment processingservicesforcompliancewiththePCIDSS,asmaybeamendedfromtimetotime,andthe PaymentApplication-Data Security Standard (“PA-DSS”), if applicable.You shall also submit an annual reportinwritingtous,signifyingproofofcompliance.
• Ifyoubecomeawarethatyouareorarelikelytobenon-compliantwithPCIDSSorPA-DSSforany reason,youwillpromptlyreportsuchnon-complianceorlikelynon-compliancetousinwriting.
• YoushallprovideuswithevidenceofcompliancewiththeobligationslistedinthisClause6atour request,andprovide,ormakeavailabletous,copiesofanyaudit,scanningresults,orrelateddocuments. Notwithstandingtheabove,weshallhavetherighttoconductasecurityauditofyoursystemsandoperations tocheckcompliancewiththisClause6,andinsuchcases,youshallextendfullcooperationtousandour representatives to enable the audit.

• Youagreetoadoptandenforceanyinformationsecurityrequirementthatwemaydeemadvisableto
• YoushallensurethatthevalueofeachunderlyingimportTransaction,thesumofwhichiscreditedin theImportCollectionAccount,doesnotexceedINR25,00,000/-(RupeesTwenty-FiveLakhsOnly)per IfanyTransactionexceedsthese limits,wereservetherighttorejectsuchTransactionsandwillnotberesponsibleforanyassociatedlosses, claims, or liabilities.
• IfanytransactionexceedsINR2,50,000/-(RupeesTwoLakhsFiftyThousand),youshallpromptly Failuretodoso entitlesustorejecttheTransactionwithoutanyliability.
• Youagreeandundertakethatyouhave,andshallatalltimesmaintain,therequisiteconsentsfromyour CustomerstosharetheirKYCwithus,ourFacilityProviders,GovernmentalAuthorities,lawenforcement agencies,orthirdpartiesforthepurposeofthisAgreement.Youshallensurecompliancewithapplicabledata protectionlaws,includingtheDigitalPersonalDataProtectionAct,2023.Breachofthisclauseshallbe deemedamaterialbreachoftheAgreement.Youagreetoindemnifyandkeepusharmlessfromanyclaims made against us in this regard.

7.   AUDIT

• YouagreethattheAD-1BankmaintainingtheImportCollectionAccountwillperformquarterly Forauditpurposes,theAD–1Bankshallhavetherighttorequest documents,information,agreements,orvisitanyofourpremises.Iftheauditrequiresanydocumentor informationfromyou,youshallprovidefullcooperationandsharesuchdocumentswithus,theBank,or theirauditoruponatleastthree(3)workingdays’notice.

8.    SPECIFICTERMSFORPAYMENTAGGREGATORS/E- COMMERCEMARKETPLACESONBOARDEDAS MERCHANTS

Thesetermsshallapplyonlyifyouareacceptingpaymentsonbehalfofyoursellers/clients/customers(“Sub- Merchants”).

• YouagreeandundertakethatYouhaveandshallatalltimesmaintaintherequisitelicenses,permissions and/or permits to operate as a payment aggregator/e-commerce marketplace in the jurisdiction whereinYou aresituatedandoperatesitspaymentaggregationbusiness/e-commercemarketplace
• YouwillbeonboardedasamastermerchantwithustoacceptpaymentsonbehalfofyourSub-
• YourepresentthatyourSub-Merchantshaveauthorizedyoutocollectpaymentsontheirbehalf.Upon ourrequest,youshallfurnishevidenceofsuchauthorization.
• Youagreeandundertakethefollowing:
  • YoushallconductduediligenceonyourSub-MerchantsasrequiredbyYouunderApplicableLaws;
  • YoushallensurethatyourSub-Merchantsdonotsellprohibitedproducts/servicesaslistedinthe Prohibited List of Goods and Services
  • YoushallensurethatyourSub-MerchantsacceptandcomplywiththetermsofourServices.
  • YouareresponsiblefortheactionsandomissionsofyourSub-Merchantsandshallindemnifyusfrom any related claims or liabilities.

• IfYouoperateasane-commerceoperatorfacilitatingthesaleofgoodsorprovisionofservicesbya residente-commerceseller,itshallevaluateandensurecompliancewiththerequirementsofTaxDeductedat Source(TDS)underSection194OoftheIncomeTaxAct,1961(“ITAct”).Youshallberesponsiblefor withholdingtaxunderSection194O,depositingthesamewithintheprescribedtimelines,andfulfillingall othercomplianceobligationsasmandatedundertheITAct.RazorpayshallnotbeobligatedtodeductTDS underSection194O.However,ifYouidentifyanynon-compliancewiththeseobligations,itshallpromptly

9.   ADDITIONALTERMSFORTRANSACTIONSUNDER LIBERALISEDREMITTANCESCHEMES

IfYouusetheServicesforTransactionsthatfallundertheLiberalisedRemittanceSchemeissuedbythe ReserveBankofIndia(“LRSGuidelines”),thefollowingadditionaltermsapply:

• Yourepresent,warrant,andagreethatallTransactionsundertheLRSwillfullycomplywiththeForeign ExchangeManagementAct,1999(“FEMA”),theLRSGuidelines,andallapplicableRBIregulations, notifications,andcirculars,asamendedfromtimetotime.
• YoushallcollectfromeachCustomertheLRSdeclarationandtheTaxCollectedatSource(“TCS”) declarationintheformandformatprescribedorprovidedbyRazorpay,inaccordancewithSection206C(1G) oftheIncomeTaxAct,1961,andotherapplicablelaws.Razorpaymayupdatetheseformsaslawschange, andyouagreetoimplementsuchchangespromptly.Copiesofthesedeclarationsmustbeprovidedto Razorpay.
• YoumustperformappropriateduediligenceonyourCustomerstoensureallTransactionscomplywith
• YoumustimmediatelynotifyRazorpayinwritingifyoubecomeawareofanynon-compliance, investigation,orregulatorynoticerelatingtoTransactionsundertheLRS.
• RazorpayreservestherighttosuspendorterminatetheprocessingofanyLRS-relatedTransactions, withoutliability,ifyouaresuspectedorfoundtobeinbreachoftheLRSGuidelinesoranyapplicablelaw.
• Youagreetoindemnify,defend,andholdharmlessRazorpayand/ortheAD-1Bankagainstanylosses, liabilities,damages,costs,expenses(includinglegalfees),fines,orpenaltiesarisingfromany misrepresentation,omission,falsedeclaration,ornon-compliancebyyouoryourCustomerswiththeLRS Guidelines,FEMA,theIncomeTaxAct,oranyotherapplicablelaworregulation.

10.    SPECIFICTERMSFORGAMINGMERCHANTS

ThesetermsinthissectionshallonlyapplyifYouareagamingmerchant

• Yourepresentandwarrantthat:
  • YoudonotengageinanyactivitythatviolatesanyApplicableLawpertainingtogaming,gambling, betting or wagering.
  • NoservicesprovidedbyYoutoanycustomer(“MerchantServices”)areofanaturethatmaybe construedasacompetition/contest/game/sport/event(onlineoroffline)whoseoutcomeisbasedmerelyor
  • TheMerchantservicesareatalltimesincompliancewithallApplicableLawsincludingpertainingto restrictionorprohibitionongambling,betting,wageringandgamingactivities.
  • TheprovisionoftheMerchantServicestocustomersinthestatesofNagalandandSikkim(ifso provided)areinaccordancewiththeApplicableLawsofthesestatesandYouhaveobtainedandholdall necessaryandvalidlicenses andregistrationstoprovide theMerchantServices inNagalandand

• NoMerchantservicesincludingfacilitation,hostingorprovidingaplatformforany competition/contest/game/sport/event(onlineoroffline)formoniesarerenderedbyitto(i)anycustomersin thestatesofTelangana,OdishaandAssamor(ii)anycustomerswhoareresidentsofthestatesofTelangana, Odisha and Assam.

• 1.aboveshallberepeatedoneachdayduringthe term of these Terms
• YouherebyagreeandundertaketoprovideatthetimeofcommencinguseoftheServicesawritten confirmation,inaformandmannersetoutbelow,certifyingthattherepresentationsandwarrantiessetoutin 1abovearetrueandcorrect.Youagreethatwemayrequireyoutoprovideafreshconfirmationon demandatanytimeduringYouruseoftheServices.
• NotwithstandinganyotherprovisionoftheTermsforgamingmerchants,Youshallindemnifyandhold Razorpay,itsaffiliates,andeachoftheirdirectors,managers,officers,employeesandagentsharmlessfrom andagainstalllosses(includinganylossesthatarespecial,incidental,indirect,consequential,exemplaryor punitiveinnature)arisingfromclaims,demands,actionsorotherproceedingsasaresultoforonaccountof

(a)anyofYourrepresentationsorwarrantiesassetoutinClause11.1abovebeingbreachedorbecoming untrueorincorrect,or(b)YourengagementinanyactivitythatviolatesanyApplicableLawpertainingto gaming,gambling,bettingorwagering.

PARTII:SPECIFICTERMSFORE-MANDATESERVICES

1.  Definitions:

• “BankAccount”meansabankingaccountmaintainedbyYourcustomerwithaDestinationBankasper Applicable Law.
• “CollectionInformation”shallmeaninformationordataprovidedbyYouinasecuredformatspecifying theamounttobecollectedandotherdetailstoidentifytheBankAccountandthedateonwhichtheamount shall be collected.
• “DestinationBank”meansabankregisteredwithNPCIaspertheProceduralGuidelinesandwhich authenticatesdetailsofYourcustomer’sBankAccountheldwiththeDestinationBankandapprovestheE-
• “E-MandatePayments”shallmeanautomateddeductionsofpre-determinedpaymentsspecifiedfromthe BankAccount(pursuanttoelectronicmandatesissuedYourcustomers)inaccordancewiththeProcedural Guidelines.
• “E-MandateRegistration”meanstheapprovedandauthenticatedE-MandateRegistrationRequestbased onwhichE-MandatePaymentscanbeeffected.
• “E-MandateRegistrationRequest”meanstherequest(inelectronicorphysicalform)madebyYour customerfordeductionofthecustomer’sBankAccountforeffectinganE-MandatePaymenttoYou.
• “EscrowAccount”isanaccountheldbyRazorpaywithanEscrowforthepurposeofreceivingthe
• “EscrowBank”meansabankthatisauthorisedbytheRBI,tooperateanEscrowAccountunder PaymentAggregator Guidelines.
• “EscrowBankWorkingDays”meansdaysonwhichtheEscrowBankisoperationaltoundertake settlements.
• “ProceduralGuidelines”meanstheguidelinesgoverninginteraliatheprocessestobefollowedand implementedbySponsorBanks,DestinationBanksandintermediariesforeffectingE-MandatePayments, issuedbytheNPCIandshallincludeanyrevisions,modificationsandamendmentsthereto.

• “SponsorBanks”meanthebanks/entitieswhichareauthorisedtoimplementtheE-MandatePayments byinteraliareceivingAPIcallsfromRazorpayforinitiatingE-MandatePayments,communicatingthe necessaryE-MandateRegistrationinformationtoNPCI,authenticationbytheDestinationBankand deductionofBankAccounts,allinaccordancewiththeProceduralGuidelines.

2. YoushallprovidethenecessaryKYCDocumentstoRazorpayasspecifiedinthisPartII:SpecificTerms forE-MandateServicesofPartB(“MandateTerms”),suchthatRazorpaycansharetheKYCDocuments(or theinformationtherein)totheSponsorBankfortheSponsorBank’sdecisiononissuingaregistrationtoYou toavailofservicesfore-mandatepayments.
3. YouacknowledgethattheonboardingandregistrationprocessisaprerequisiteundertheProcedural GuidelinesinorderforYoutoavailofServicesfore-mandatepaymentsandthecustomerstobeabletostart submittingE-MandateRegistrationRequests.RazorpayshallnotbeliabletoprovideanyServicesunder theseTermsuntiltheSponsorBankhasissuedaregistrationinYourfavour.
4. Following completion of integration, Razorpay shall enable E-Mandate registration requests by customers onYourwebsitebymakingavailabletheprescribedE-mandateRegistrationRequestformissuedbyNPCI andalsoputinplacethenecessaryAPIprotocolstotransmitcustomerinformationtotheSponsorBanksin ordertofacilitatetheprocessofcustomerverificationandauthenticationofcustomerandbankaccount detailsbytheDestinationBank,followingwhichtheNPCIshallconfirmtheE-mandateRegistrationrequest.
5. Beinganintermediary,Razorpayshallberesponsibleonlyfortransmissionofthecustomerdetailstothe SponsorBankandshallnotberesponsibleforfailureorrefusaloftheE-MandateRegistrationrequestbythe Destination Bank or NPCI.
6. IntheeventanyqueryorclarificationissoughtbyNPCI,RBIoranygovernmentalauthorityorFacility Providerinrespectofanye-mandatepaymenttransaction,Youshall(forthwithuponcommunicationofthe queryorclarificationbyRazorpaytoYou)providetherelevanttransactionand/orcustomerdetails,as
7. OnsuccessfulapprovaloftheE-MandateRegistrationRequest,Razorpayshallonaperiodicbasis(asper theE-MandateRegistration)initiateE-MandatePaymentrequestswiththeSponsorBankandbasedonand pursuanttoauthenticationbyNPCIandtheDestinationBank,receivethefundsintheEscrowAccount.
8. TheperiodicpaymentswillbefacilitatedbyRazorpaysolongastheE-MandateRegistrationisnot cancelledbytheCustomer,DestinationBankortheSponsorBank.Razorpayshallnotbeliableforthefailure ofapaymentonaccountofthedeclineoftheapprovalbyDestinationBankorNPCIoronaccountof cancellation of the E-Mandate Registration by the Sponsor Bank, Destination Bank,Your customer or NPCI.
9. FollowingthereceiptoffundsintheEscrowAccount,Razorpayshall,subjecttoRazorpay’swithholding rightsundertheseTerms,settlethefundsintoYourdesignatedaccountwithintheapplicablesettlement period.
10. IfRazorpaysettlesthefunds,atanearliertimethanagreedabove,Razorpayshallhaveanabsoluteright torecoversuchfundsforthwithifthesameisnotreceivedintheEscrowAccountwithinthree(3)working
11. InadditiontorightsundertheseTerms,iftherearereasonablegroundsforRazorpaytosuspectthata transactiontoeffectanE-MandatePaymentisdonefraudulentlyoriftheSponsorBank,NPCIorDestination Banksuspectingso,communicatethesametoRazorpay,thenRazorpayshallbeentitledtowithhold settlements to You.
12. Pursuanttoclause11above,Youshall,totheextentavailable,provideinformationaboutsuch transactionstoRazorpay,SponsorBank,NPCIorDestinationBankforthwithuponreceivingarequestfrom Razorpay,SponsorBank,NPCIorDestinationBankrespectively.
13. RazorpayshallbeentitledtoterminatetheseServicesiftheSponsorBankorNPCIdirectscancellationof Yourregistration.YouacknowledgethatRazorpaybeingmerelyanintermediaryinthesystemforE-Mandate

PaymentisboundtofollowdirectionsfromtheSponsorBank,NPCIortheDestinationBankinmatters relatingtofraudulentorsuspicioustransactions.

14. RazorpayshallbeentitledtorecoverfromYou(bydeductingamountsfromYourfundsheldbyRazorpay inthecourseofprovidingtheServices,orifthefundsheldareinsufficient,byissuingadebitnotetoYou), anyamounts(a)chargedbySponsorBanktoRazorpayonaccountofrefundanddisputedclaimsfromYour customers;and(b)representingpenalties,finesorothercharges(whatsoevernamereferredto)leviedbythe SponsorBank,NPCIoranygovernmentalauthority(intheirsolediscretion)onRazorpayonaccountof fraudulenttransactionsonYourwebsite.
15. Youagreethatpaymentseffected,orfundsdebitedfromYourcustomer’sBankAccountonthefollowing groundsshallnotbetheresponsibilityofRazorpayandnoliabilityshallariseforRazorpayinrespectofsuch claims fromYour customers:

•  
• Thecharge/debitonYourcustomer’sBankAccounthasoccurredbecauseofhacking,phishing,breachof security/encryptionofYourcustomer’sPIthroughYourplatformoranyotherthirdpartyplatformotherthan that of Razorpay.
• Yourcustomerclaimingrefundoftheamountsdeductedfromhis/herBankAccountonanyground whatsoever,includingYourcustomer’sdissatisfactionwithYoursaleofthegoodsand/orservicestothe

16. RazorpaywillnotbeliablecollecttheamountsfromYourcustomersandcreditthesametoYouinthe following circumstances:

• IfanyofYourcustomersdoesnothavesufficientfundsintheBankAccountfordebitingtheamount
• RazorpayisprohibitedfromdebitingtheamountsfromYourcustomers’accountbyanygovernmental authority or Facility Provider.
• IfYourcustomer’saccountisclosedoroperationsfromsuchaccountarebarredbygovernmental authorities or Facility Providers.
• IfYoudonotprovidecompleteandcorrectinformation
•  
• Razorpayhasreasonto believethata CollectionInformationhasnot beenproperlyauthorized.

17. IntheeventofanyconflictbetweenthePartII:SpecificTermsforE-MandateServicesandtherestofthe Terms,thentheformershallprevail.Tothemaximumextentfeasible,theyshallbeconstruedharmoniously.
18. CapitalisedtermsusedhereinshallhavethemeaningascribedtosuchtermsinPartA:GeneralTermsand

PARTIII:SPECIFICTERMSFORTOKENHQSERVICES

1. YouunderstandandacknowledgethattheTokenHQisanend-to-endsolutionforYoutoallowYour customerstocontinueusingthesavedcardsfeatureincompliancewithRBI’sguidelinesontokenisationset outintheCircularCO.DPSS.POLC.No.s-516/02-14-003/2021-22readwithDPSS.CO.PD 1463/02.14.003/2018-19datedJanuary8,2019andrelatedguidelinesandclarificationsissuedbytheRBI (together“Circular”).ForthepurposesoftheseTerms,theApplicableLawsshallbedeemedtoincludethe Circular.
2. WhereRazorpayisactingasatechnicalserviceproviderandYouarethetokenrequestor,You acknowledgeandagreethatRazorpayshallhavenoliabilitytowardsYouoranythirdpartyforYouractsor

omissionsorYourfailuretocomplywithApplicableLaws.

3. WhereRazorpayisactingasthetokenrequestoronYourbehalf,Youacknowledgeandagreethat Razorpay’sroleislimitedtorequestingfortokensonYourbehalfuponreceivingconsentofYourcustomers. Razorpaywillintegratewithavailablecardnetworksandissuingbanks(eacha“TokenServiceProvider”or “TSP”)
4. Youacknowledgeandagreethatinordertoallowusingthesavedcardfeature,thecustomercarddetails Accordingly,Youshall,exceptinthecaseofstandardcheckout:
   • besolelyresponsibleforobtainingconsentofthecustomertotokenize(andsave)thecustomer’scard. Suchconsentshallbeexplicitandnotbywayofaforced/default/automaticselectionofcheckbox,radio button, etc.
   • informthecustomersofthepurposeofobtainingsuchconsentandthatthecardwillnotbetokenized(and saved)ifthecustomerdoesnotprovideexplicitconsent,andshalldoallthingsasrequiredtotokenize(and save)thecarddetailspursuanttoApplicableLaws.
   • sharesuchcustomerconsentwithRazorpayinorderforRazorpaytotriggertheadditionalfactor authentication(AFA)withtheissuingbankwhichisrequiredtoregisterthetokenisationrequest.You acknowledgeandagreethatifsuchcustomerconsentisnotsharedduringthepaymentflowthenRazorpay shallnottokenize(andsave)thecustomercarddetails.
   • providethe customer an option to de-registerthe token and delete the card.
5. YoushallkeepRazorpayfullyindemnifiedatalltimesfromandagainstalllosses,damages,penalties,etc., incurredbyorimposedonRazorpaytotheextentitarisesfromanybreachbyYouofPartIII:SpecificTerms for TokenHQ Services.
6. YoushallkeepalogofallinstancesofobtainingcustomerconsentunderApplicableLawsandofYour compliancewithPartIII:SpecificTermsforTokenHQServicesandprovidethesametoRazorpayonareal Inadditiontoanyrighthereunder,RazorpayandFacility ProvidershavetherighttoauditYourcompliancewiththesetermsandconditionsatanytimeuponnotice.
7. Forthepurposesofthisservice,tokenshallhavethemeaningassetforthintheCircular.
8.  
9. IntheeventofanyconflictbetweenthePartIII:SpecificTermsforTokenHQServicesandtherestofthe Terms,thentheformershallprevail.Tothemaximumextentfeasible,theyshallbeconstruedharmoniously.
10. Capitalisedterms usedherein butnot defined shallhave themeaning ascribedto such termsin theTerms.

PARTIV:SPECIFICTERMSFORSUBSCRIPTIONSERVICES

1. SubscriptionservicesprovideYoutheplatformtocreateandmanagesubscriptionplansforYourcustomers WiththisproductYoucan(i)createmultiplesubscriptionplansfor customers,(ii)automaticallychargecustomersbasedonabillingcyclethatYoucontrol,and(iii)getinstant alertsonpaymentactivityaswellasthestatusofsubscriptions.
2. Youacknowledgeandagreethattheseterms(i)shallapplyfordebit,creditandprepaidinstrumentsor othermethodsasnotifiedfromtimetotime(together“Card”)ofcustomers,and(ii)doesnotapplytoonce- only / one-time payments.
3. Youacknowledgeandagreethat:
   1. The customer desirous of opting for e-mandate facility on Card is required to undertake a one-time registrationprocess,withanAdditionalFactorAuthentication(AFA)validationbytheissuerbankandthatan

e-mandateonCardofcustomersforrecurringtransactionsshallberegisteredonlyaftersuccessfulAFA validation.

1. Wherethefirsttransactionisbeingperformedalongwiththeregistrationofe-mandate,thenAFA SubsequentrecurringtransactionsshallbeperformedonlyforthoseCardwhich havebeensuccessfullyregisteredandforwhichthefirsttransactionwassuccessfullyauthenticatedand authorised.
2. Onsuccessfulregistrationandapprovalofthee-mandaterequest,Razorpayshallonaperiodicbasis(as perthee-mandate)initiatesubsequentrecurringpaymentsunlesssuche-mandateismodifiedorde-registered by the customer.
3. Razorpay expresslydisclaimsallliabilityforanyoutages orfailuresattributabletoFacilityProviders.

4. Youfurtheracknowledgeandagreethatinordertoprocessrecurringtransactions,customerCarddetails willneedtobesaved/secured/tokenizedinaccordancewithApplicableLaws.Accordingly,forcustom checkoutandserver-to-serverintegrationYoushall:
   1. solelyberesponsibleforobtaininginformedconsentfromcustomersforthepurposeofprocessingofe- mandates,including saving/securing/tokenizing the customer’s Card details, in accordance withApplicable Suchconsentshallbeexplicitandnotbywayofaforced/default/automaticselectionofcheckbox, radio button, etc.
   2. sharecustomerconsentwithRazorpayforRazorpaytotriggertheAFAwiththeissuingbankwhichis requiredtobothsavetheCardandprocessthee-mandateregistration.Youacknowledgeandagreethatif suchcustomerconsentisnotsharedduringthepaymentflow,thenRazorpaywillnottokenizethecardor processthee-mandate/recurringtransaction.
5. Youagreethatpaymentseffected,orfundsdebitedfromacustomer’sbankaccountonthefollowing groundsshallnotbetheresponsibilityofRazorpayandnoliabilityshallariseforRazorpayinrespectofsuch customer claims:
   1. Customerdisputingatransaction asnotdoneor authorizedbyhim/her.
   2. Thecharge/debitonthecustomer’sbankaccounthasoccurredbecauseofhacking,phishing,breachof security/encryptionofthecustomer’spersonaldatathroughYourplatformoranyotherthird-partyplatform other than that of Razorpay.
   3. Customerclaimingrefundoftheamountsdeductedfromhis/herbankaccountonanygroundwhatsoever, includingcustomer’sdissatisfactionwithYoursaleofthegoodsand/orservicestothecustomer.
6. YouagreethatthereareinstanceswhereRazorpayisonlyactingasatechnicalserviceproviderandYou arethetokenrequestorforthepurposesofsaving/securing/tokenizingtheCardandYoushallaccordinglybe liabletopassthecustomer’sinformedconsentforsavingtheCardandregisteringthee-mandatetoRazorpay. YouagreethatRazorpayshallhavenoliabilitytowardsYouoranythirdpartyforYouractsoromissionsor
7. YouagreetokeepRazorpayfullyindemnifiedatalltimesfromandagainstalllosses,damages,penalties, ,incurredbyorimposedonRazorpaytotheextentitarisesfromanybreachbyYouofPartIV:Specific Terms for Subscription Services.
8. Youshallmaintainrecordsofitsactivitiesundertheseterms,includingwhereapplicablekeepinglogofall instancesofobtainingcustomerconsent,andshallprovidethesametoRazorpayonarealtimebasisoras InadditiontoanyrightunderPartIV:SpecificTermsforSubscriptionServices, RazorpayandFacilityProvidershavetherighttoauditYourcompliancehereunderatanytimeuponnotice.
9.  
10. IntheeventofanyconflictbetweenthePartIV:SpecificTermsforSubscriptionServicesandtherestof theTerms,thentheformershallprevail.Tothemaximumextentfeasible,theyshallbeconstrued

harmoniously.

11. Capitalisedtermsusedhereinbutnotdefinedhereinshallhavethemeaningascribedtosuchtermsinthe

PARTV:RAZORPAYPARTNERPROGRAM

TheRazorpaypartnerprogramisareferralprogramthroughwhichYoucanrefertheRazorpayservicesto Yourclientsorcustomersandgetrewarded.YoumaybecomeapartnerbyagreeingtothedetailedPartnerTermsandConditionsandsigningupasapartner.

PARTVI:MAGICCHECKOUT

MagiccheckoutisthecheckouttechnologyplatformdevelopedbyRazorpayforYourcustomersregistered withRazorpaywhichenablesthecustomertoseamlesslysaveandusetheirinformationforplacingorders withYou (“Magic Checkout Services”).You can avail Magic Checkout Services as per terms specified below:

1. PrivacyandDataProtectionRights

 

• Razorpay has adopted reasonable security practices and procedures that are commensurate with the informationassetsbeingprotected,andhasimplementedrelevanttechnical,operational,managerialand physicalsecuritycontrolmeasurestoprotecttheinformationinitspossessionfromloss,misuseand unauthorizedaccess,disclosure,alterationanddestruction.
• IntheprocessofprovidingMagicCheckoutServices,YouacknowledgeandagreethatRazorpaymay collect,storeandusecertaininformation,includingpersonaldata,fromYourcustomers.Razorpayis committedtoprotectsuchinformationandtotakeallreasonableprecautionsformaintainingconfidentiality thereof.Additionally,forthepurposesofprovidingMagicCheckoutServices,Youherebyunderstandand agreethatRazorpayshallhavetherighttocollect,storeanduseofcustomers’personaldata,includingbutnot limitedtoname,emailaddress,phonenumberandaddress,asprovidedbythecustomersand/orYouto Razorpayfromtimetotimedirectlyorindirectly(orprovidedinpast).
• Theinformation,asreferredabove,maybeusedbyRazorpayfor:(i)providingMagicCheckoutServices (includingforthepurposesofverificationoftheidentity,processingofpayment,communicationregarding thepurchaseandmonitoringofpastbehaviourtoidentifyfraudulenttransactions);(ii)administrative, marketingandcustomersupportpurposes;and/or(iii)providingotherRazorpayservices.
• YourepresentandwarranttoRazorpaythat:

• YoushallusetheMagicCheckoutServicessolelyforprovidingservices/goodstoYourcustomers.
• YoushallobtainallconsentsrequiredunderApplicableLawfromYourcustomersbeforesharingPIIof the Customers with Razorpay.
  • Yourusage/accessoftheMagicCheckoutServicesshallconstituteYouracceptancetotheTermsandthe PrivacyPolicy.You acknowledge and confirm thatYou shall obtain a valid consent under theApplicable Law IntheeventYouwithdrawYour consent/acceptancetotheseterms(includingwithdrawingconsentforusingofpersonaldatabyRazorpay and/ordefaultsinitsrepresentationandwarranties),RazorpaymayinitssolediscretiondiscontinueYour access,inpartorfull,totheServices(includingbutnotlimitedtodiscontinuingtheaccesstoMagic CheckoutServices),associatedfeaturesand/orpresentandfuturebenefits.YoualsoacknowledgethatYou shallimmediatelyinformRazorpayintheeventthatanycustomerwithdrawstheirconsent/acceptanceto sharingoftheirpersonaldatawithRazorpay.YoushallindemnifyandkeepRazorpay,itsdirectors,officers, employees,andaffiliatesindemnifiedatalltimesfromanyandallclaims,liabilities,losses,damagesandthe likeincurredbyRazorpayasaresultofanybreachoftheseterms,includingYourobligationshereunder.

2. RTOProtection

 

• IncaseYouareavailingtheRTOProtectionasaservicefromRazorpayforaconsideration,Youshallbe entitledtoclaimreimbursementfor,thereturnshippingfeesincurredbyYouonsuchorderswhichhavebeen returnedtoYou(“RTOProtection”)providedthateachofthefollowingconditionsaremet:

• Youhaveswitchedon/acceptedtheMagicIntelligence(theproprietarytechnologysolutiondevelopedby Razorpaywhichanalyses,identifiesordersplacedbycustomersthatmaypotentiallyresultinto‘returnto origin’)featureatalltimesonYourdashboard.
• ThereturnofsuchordershavebeensolelyduetotheMagicIntelligencefeaturefailingtodetect/identify such‘returntoorigin’order.ItishoweverclarifiedthatanyreturnshippingfeesincurredbyYouon exchange/productreturn/productrefusalafterdelivery,bycustomersshallnotbecoveredunderRTO Protection.
• TheordersforwhichRTOProtectionisclaimedarenotpre-paidorders.
  • YouagreethatRazorpayshallbeliabletoprovidereimbursementtoYouunderRTOProtectiononly uponsubmissionofreturnshippinginvoice/documentsasvalidatedbyRazorpay.
  • Youshall,attheendofeverymonth,raiseaninvoiceforclaimingreimbursementsundertheRTO Protection,whichshallbedischargedbyRazorpaywithinaperiodof30(thirty)daysfromthedateofthe invoice,providedalltheconditionsspecifiedunderClauses2.1and2.2abovearefulfilledtothesatisfaction of Razorpay.

3. IntheeventofanyconflictbetweenthePartVI:MagicCheckoutandtherestoftheTerms,thentheformer Tothemaximumextentfeasible,theyshallbeconstruedharmoniously..
4. Capitalisedtermsusedhereinbutnotdefinedhereinshallhavethemeaningascribedtosuchtermsinthe

PART VII:SPECIFICTERMSFOROFFLINEAGGREGATION SERVICESANDDEVICES

1.    SERVICES

• RazorpayPOS willprovideofflinepaymentcollectionandaggregationServices(fortheofflinetransactionsconductedvia Devices)andtheDevicestotheMerchantforitslegitimate,bonafideandlegalbusinessactivitiesonly.In caseswhereRazorpayPOSisnotperforminganypaymentcollectionandaggregationservicesandhasonly providedtheDevices,thenRazorpayPOSshallnotbeliableforsettlementofthefunds.RazorpayPOSshall settletheregularcard/UPITransactionAmount(netofPermissibleDeductions)intoYouraccountasperthe agreedtimelinesorwithintwo(2)Bankworkingdays,whicheverishigher,holdingtheEscrowaccount followingthedateoftheTransaction.Furthermore,foranyadditionalvalueaddedservices(VAS)subscribed bytheMerchantspursuanttothisPartVII:SpecificTermsforOfflineAggregationServicesandDevices, Transactionamountshallbesettledasperseparateagreedsettlementtimeline.RazorpayPOSshallhavean absoluterighttoplacelimitsontheTransactionvalue.
• RazorpayPOSwillprovide:

• RazorpayPOSPaymentServices(asdefinedabove)whichincludestheabilitytoprocesspaymentsfrom
• AcceptanceofAmericanExpresscards-UponrequestoftheMerchant,RazorpayPOShastheabilityto ActivationofAmericanExpresswill besubjecttoRazorpayPOSapprovalandwillcomplywithAmericanExpresspolicy.
• MobileApplication:Insupportoftheaboveservices,RazorpayPOSwillsupplytheMerchantwitha mobileapplication(whichisaninterfacerequiredtoaccesstheRazorpayPOSsoftwaresolutionsthroughthe Device)andtheRazorpayPOS’

• Portal:RazorpayPOSagreestoretainandmaintaintransactionrecordsfortheServicespurchasedbythe MerchantandprovideaportaltotheMerchantshowingsuchrecordsandallowtheMerchanttodownload such records from time to time.
• AffordabilityServices:

AttherequestoftheMerchantRazorpaytoenableaffordabilitypaymentoptionsonthePOSterminals whichwillfacilitatetheMerchanttoprovideanoptiontoitscustomerstopayviaEMI(CC,DC,Brand EMI,NBFC)/BNPL/CashbackOffers/IBD(InstantDiscount)paymentoption.

TheMerchantunderstandsthatRazorpayismerelyafacilitatorfortheenablementofvarious affordabilitypaymentoptionandisnotresponsibleforanydeclineinthesetransactionsornon- approvalofcustomerloanrequestbytherespectiveNBFC/Banks/lendingserviceproviderorbrand EMIscheme/cashbackoffersbythepartnerbrand(asthecasemaybe)forwhatsoeverreasons.

ForbrandEMIservices,brandschemes,andSKUdetailsasintimatedbytherespectivebrandpartner toRazorpayarepre-fedinthePOSterminalandaresubjecttochangefromtimetotimeatthe discretion of the brand.

ThePartiesshallberesponsibleforcomplianceandpaymentofalltaxes,duties,levies,surcharge,cess oranyotherchargesthatmaybeapplicabletotherespectivePartyundertheApplicableLaw,in relation to the Services.

TheMerchantunderstandsthatunlesstheMerchanthasoptedforpaymentaggregationservicesfrom Razorpay,settlementofaffordabilitytransactionamountshallnotbeundertakenbyRazorpay.The MerchantunderstandsthatRazorpaymaystillmanagesettlementsincertainscenarios,under contractualrelationwiththirdpartieswhomaybeprovidingservices/offeringstotheMerchant,where theyhavenotavailedthepaymentaggregationservices,forclaritysuchservicesmayinvolveDCEMI, Instant Business Discount etc.

IncaseRazorpayisthepaymentaggregatorfortheMerchant,thensettlementofaffordability transactionamountwillbe;asperbelowtimelines:

PARTICULARS	SETTLEMENTTIMELINES(asper bankworkingdays)
DCEMI	T+2days
CCEMI	T+1day
NBFCEMI	T+2day
BrandEMI	T+1day
BNPL	T+1day

• ‘T’meansthedayoftransaction
• TheabovesettlementtimelinemaygetimpactedbythedelayinsettlementtoRazorpaybythe respectivebank/NBFC/lendingpartner/brandpartner

Merchantagreesandacknowledgesthatallrisks,responsibilities,disputesassociatedwiththesaleand deliveryoftheproductsand/orserviceswhichareprovidedbytheMerchanttoitscustomersshall solelyvestwiththeMerchantandthatRazorpayshallnothaveanyresponsibilitythereof,inany mannerwhatsoever.Alldisputesregardingthequality,merchantability,non-delivery,anddelayin deliveryoftheproductsand/orservicesofferedforsalebytheMerchantshallberesolveddirectly betweentheMerchantandthecustomerwithoutmakingRazorpayapartytosuchdisputes.

MerchantherebyundertakesthattheMerchantshallcooperateandassistRazorpayinresolving chargebackdisputefromtherespectivebanks/NBFC/lendingpartnerandsubmitproper documentation/proofinsupportofchargebackdispute.Incaseanychargebackdisputeisruledagainst theMerchantthentheMerchantshallpaybackthetransactionamounttoRazorpaywhichwillbe eventuallycreditedtotheendcustomerviaissuingbank/NBFC/lendingserviceprovider.Nothingin thisclauseshallprejudiceRazorpay’righttodeduct/withholdthechargebackamountfromthe settlement amount.

• ReconciliationServices:

RazorpaywillprovidetransactionreconciliationservicestotheMerchant.Undertheseservices, RazorpaywillprovideareconciliationreportonthebasisoftransactioninitiatedatPOSterminals deployedatMerchantlocationvis-à-vissettlementoftransactionamountmadebyMerchant’partner bank.

Merchantagreesthatpreparationofreconciliationreportisdependentonsettlementdatasharedby Merchant’spartnerbankwithRazorpay.Ifsuchpartnerbankdelays/failstosharedatawithRazorpay, thenRazorpayshallnotbeheldresponsibleforanydelayinsharingornotsharingthereconciliation report with the Merchant.

• EMIPlusServices(EMIPlusClubWallet):

RazorpayEMIPlusClubWalletprogrammeisRazorpayledprogrammeforthebenefitofMerchants tosellanyproducttoitscustomersonZeroCostEMIwithoutanyinterestchargetocustomer.Brands applicableunderRazorpayEMIPlusClubWalletProgramwillbecommunicatedtotheMerchantin advanceandmayvaryfromtimetotime.

Inordertoavailthisservice,theMerchantisrequiredtocollect1%ofthetransactionamountas processingfeesonallRazorpayEMIPlusClubWallettransactionsfromthecustomeronbehalfof Razorpay.Razorpaywilldeduct/collectthisprocessingfeefromtheMerchantatthetimeof settlement(ofthetransactionsettlementamount)totheMerchant.

MonthlydefaultWalletlimitshallbeINR.2,00,000perPOSterminal/Device.MaximumPOS terminal/Devicelimitforavailingtheseservicesshallbe4POSterminal/Devicespermerchant.The WalletlimitwillberesettoINR2,00,000onthe1stdayofeverycalendarmonth.

MerchantcanincreasetheirEMIPlusClubWalletbalancebycompletingBrandEMITransactionson theRazorpayPOSterminal.(Example:WhenaMerchantcompletesaBrandEMITransactiononthe RazorpayterminaltheirEMIPlusClubWalletlimitwillincreasebythevalueofthetransaction.)

MerchantshallutilisetheClubWalletonlyinrelationtotheSKUs(StockKeepingUnits)defined underRazorpayEMIPlusClubWalletprogram.

Overall,walletsizeforRazorpayEMIPlusClubWalletacrossallmerchantssignedupforthis programmeforanygivenmonthshallbeINR5crores.Hence,iftheINR5crorelimithasbeen reachedforanygivenmonth,Merchantwillnotbeabletousethewalletuntilthenextcalendarmonth. Thislimitwillbereseteverycalendarmonth.

AttherequestofRazorpay,theMerchantshallsubmitinvoicesagainstthetransactionsdoneusing RazorpayEMIPlusClubWallet.IncasetheMerchantfailstoproducethesaidinvoice/s,then Razorpaymayatitsdiscretiondiscontinue/suspendRazorpayEMIPlusClubWalletfortheMerchant.

TheMerchantunderstandsthatRazorpayEMIPlusClubWalletprogramisownedandfacilitatedby Razorpay.RazorpaymayatitssolediscretionmakechangestothetermsandconditionsofRazorpay EMIPlusClubWalletprogrammeordiscontinuetheprovisionofthisprogrammetotheMerchant.

• SMSPay–CardNotPresent(CNP):

TheMerchanthasrequestedRazorpaytoenableSMSpayservicewhereintheMerchantcancollect paymentsfromthecustomersviaSMSpaylinks.

AspertheServices,anSMSpaylinkwillbesenttothecustomermobilenumber.Subsequently,the CustomermayopentheSMSpaylinkandinitiatethepaymentbyenteringrequisitesdetails.

TheMerchantunderstandsthattheSMSpaylinkissenttothecustomersonbehalfoftheMerchant. Therefore,theresponsibilityforrecordingexplicitconsentfromthecustomersforusingtheirmobile numbersforsendingoutSMSpaylinksshallsolelyvestwiththeMerchant.

• DigitalInvoicing services:

AttherequestofMerchant,RazorpaywillenableDigitalInvoicingServicesfortheMerchant,whereinthe Merchantanditscustomerwillhaveanoptiontoshareand/ormaintaintheinvoicecopyrelatingtothe transactioninadigitalform.TheMerchanthasagreedtoavailsuchDigitalInvoicingServicesonsuchTerms andconditionsmentionedhereandadditionaltermsandconditions,asareincorporatedhereinbelow:

RazorpaywillprovideaccesstoaplatformthatwillfacilitatetheMerchantanditscustomertosubmit/ receivetheinvoices,respectivelyindigitalform.BothMerchantandthecustomerwillhavethe

provisiontostoretheinvoiceonRazorpay’splatformprovidedforthispurpose.

VariousfeaturesandfunctionalityoftheDigitalInvoicingServiceshasbeenincorporatedinthelist below (Digital Invoicing Service Features). If the Merchant requires any additional / premium features ofDigitalInvoicingServices,thesamemaybeprovidedbyRazorpay,atsuchadditionalcostandother terms,asmaybeagreedbetweentheParties.

TheMerchantunderstandsthatRazorpaywillbeprovidingthisDigitalInvoicingServicesin associationwithitsAffiliatenamedJHKPTechnologiesPrivateLimited(a.k.a.BillMe).

TheMerchantacknowledgesandagreesthatRazorpayholdstherighttoadd,removeormodify featuresoftheDigitalInvoicingServicesatitsowndiscretion,withpriorintimationtotheMerchant. Razorpaydoesnotclaimanyownershipofthedigitalinvoicecopies.Merchanthastheauthorityto makedeletionstotheMerchantcopyasandwhentheMerchantfindsitnecessarytodoso.

TheMerchantagreesandauthorizesRazorpaytoshareMerchant’sandcustomer’sinformationand makesuchdetailsavailabletoitsaffiliates,vendors,serviceproviders/facilityprovidersandotherthird parties,insofarasrequiredinassociationwiththeDigitalInvoicingServicesavailedbytheMerchant. Merchantagreestoreceivecommunicationsthroughemails,telephoneand/orSMS,fromRazorpay/it Affiliatesorthirdparties.IftheMerchantrequestsnottoreceivesuchcommunication/marketing materialanyfurther,suchdissentshallonlybeapplicableprospectively.

IncasewheretheMerchantoptsforDigitalInvoicingServices,Razorpayherebygrantstothe Merchantanon-exclusive,non-transferable,revocablerighttousetheDigitalInvoicingServices duringthetermsolelyfortheMerchant’slegitimatebusinessoperations.

TheMerchantherebyagreesandunderstandsthatRazorpaymayeitherbyitselforinassociationwith anythird-partycontractor/affiliatesprovideDigitalInvoicingServices.Inanycase,theMerchant understandsthatRazorpayorsuchthird-partycontractor/affiliatesreservestheright/ownershipof DigitalInvoicingServicesandtheplatformincludingbutnotlimitedtoanyintellectualpropertyrights associated with the same.

RazorpaywillchargeaseparatefeeforprovidingDigitalInvoicingServiceswhichmaybecollected alongwithDevicerentals.Furthermore,theMerchantalsoagreestopaySMSchargesonperSMS basisfortransmittingdigitalinvoices.Thesameshallberecoveredaspertheprovisionsincorporated under the Agreement.

ForavailmentofDigitalInvoicingServicesandtoreceiveaccesstotheplatform,theMerchantshall providesuchinformationasmayberequestedbyRazorpayfromtimetotime.TheMerchanthereby undertakes:

Toprovidetrue,accurate,andcompleteinformationabouttheMerchantasmayberequiredduringthe accountcreation/registrationprocessfortheprovisionofDigitalInvoicingServices;and

TomaintainandpromptlyupdateMerchant’sinformationfromtimetotime,asapplicable. MerchantunderstandsthatRazorpaywilluseMerchant’sdetailstoprovidetheDigitalinvoicing

Servicesandifanyinformationturnsouttobeinaccurateoroutdated,thensomeoralloftheservices may not operate correctly.

TheMerchantherebyundertakesliabilityforanylosses,claims,defaultintheDigitalinvoicing ServicesduetoincorrectinformationprovidedbytheMerchantandtherebyagreestoindemnify Razorpay for such losses.

TheMerchantshallberesponsibletoundertakeexplicitconsentfromthecustomerstouseandshare antdatabeingcollectedtoprovidesuchservices,withRazorpayanditsAffiliates,thecustomer’s mobilenumberforthepurposeoffacilitatingdigitalinvoicing.Theconsenttobetakenbythe Merchantfromcustomersmustincludeconsentforsharingcustomersmobilenumberalreadyexisting inRazorpaydatabasewithRazorpay’sAffiliatesandvice-versa.

IftheMerchantprovidesanyinformationforthepurposesofundertakingorindulgingfraudulentor criminalactivitiesandRazorpayhasreasonablegroundstosuspectthatsuchinformationhasbeen provided,inallsuchinstancesRazorpayreservestherighttosuspendorterminateDigitalInvoicing ServicesandMerchant’saccesstotheplatform.

TheMerchantgrantsRazorpay/itsaffiliates/orthird-partycontractorinvolvedintheprovisionofthe DigitalInvoicingServices,withalimited,non-transferablerighttodisplaytheMerchant’scompany name,brandname,trademarksorregisteredtrademarksonitswebsites,applicationsandothermedia andonlineresourcesforrepresentational/promotionalpurposes.

TheMerchantshallbesolelyresponsibleforensuringthesafetyofaccesstoitsaccountontheplatform foravailingtheDigitalInvoicingServices.TheMerchantagreesthatRazorpayshallnotberesponsible

foranylossthattheMerchantsuffersasaresultofanunauthorizedpersonaccessingitsaccountand/or using the Digital Invoicing Services.

DIGITALINVOICINGSERVICEFEATURES

 

Particulars	S. No.	Feature	Remark	Quantity
DigitalBilling Features	1	DigitalInvoicing-BillMeDigi Printer (Windows OS)
	2	Customerdatacollection(BillMe Digi Printer)	UItype3
	3	Digital billcomplaint Management		100 Complaints
	4	Bannerinbill(Singleimage, Carousel or GIF)	Couponscanbesenton the images	SingleImage Only
	5	Ad below bill (Single image, Carousel,GIF,YouTubevideoor MP4 video)	Couponscanbesenton the images	SingleImage Only
	6	Socialmediabuttonsofyour brands
	7	Starratingfeedback
	8	UserAccess(unlimitedusers)
CRM	1	SMScampaignbuilderwith scheduler	5 Templates Pre- RegisteredunderBillMe/Razorpay Name	100
ReportExports	1	DailySalesReport
UserBills	1	user.billme.co.in

• Devices:ForenablingtheServices,RazorpaywillprovideDevicestotheMerchantonagreedpricing ForprovisionoftheseServices,theMerchantshallprovidenecessaryKYCdetailsandother informationasmayberequiredbyRazorpayinrelationtoMerchantstoresandlocations,wheretheDevices are requested to be deployed.
  • MerchantagreesthateachDeviceorderedbyMerchantshallhaveaminimumperiodofusageof12 (twelve)months(incasetheMerchantoptsformonthlyplan),alsoreferredtoasthe“Lock-inperiod”Itistobeclarifiedthatin theeventtheMerchantdeactivatesorreturnsaparticularDeviceorsetofDevices,beforetheexpiryofthe Lock-inperiod,Merchantshallmakeaone-timepaymenttoRazorpayPOSofanamountequivalenttothe remainingrentalorfees(asapplicable)fortheunexpireddurationoftheLock-inPeriodforsuchDevices.On terminationofServicesforwhateverreasons,theMerchantshallreturnalltheDevicesimmediatelyto RazorpayPOS(iftakenonrentalbasis).
  • RazorpayPOSwillprovideDevicesandmobileapplicationthatarenecessaryfortheprovisionofthe RazorpayPOSServices.MerchantshallacknowledgethereceiptofsuchDeviceinaformandmanner

• RazorpayPOS,oritsbusinessassociate,shallafterreceivinginstructionsinwriting,installtheDeviceat Merchant’Merchantshallensurethatthenecessaryinfrastructure(likemobilephone(s)or tablet(s)andinternet)requiredtoinstalltheDeviceisavailableattheMerchant’sdesignatedlocation.Tothe fullestextentpermittedbylaw,Razorpayisnotresponsibleforanydelays,deliveryfailures,oranyotherloss ordamageresultingfrom(i)thetransferofdataoverpubliccommunicationsnetworksandfacilities, includingtheinternet,or(ii)anydelayordeliveryfailureonthepartofanyotherserviceprovidernot contractedbyus,andYouacknowledgethattheservicemaybesubjecttolimitations,delaysandother problemsinherentintheuseofsuchcommunicationsfacilities.
• Merchantshallarrange,co-operate,andprovideforinstallationatitspremisestheDeviceandsuch Merchantstatesandagrees thattheDeviceshallbeusedexclusivelyattheMerchant’sdesignatedestablishment/locationforthe purchaseofgoodsorservicesforwhichtheMerchanthasbeensignedupandfornootherpurpose whatsoever.RazorpayPOSshallnotbeusedinextremeorhazardousenvironmentslike(exposuretohigh heat,firehazardorwater)neitherMerchantshallforcefullyplugandunplugthecharginginterfaceortiltit.
• MerchantshallretaininitspossessionandforitsexclusiveusetheDeviceandkeepthesameingood condition.MerchantagreesandacknowledgestosafekeepandcontroltheuseoftheDevicesuchthatany Merchantshall notusetheDeviceforanyfraudulenttransactions,businessmalpracticesandillegalactivities.Merchantshall notandshallensurethatthepersonnelofMerchantusingtheDeviceshallnot,usetheDeviceinsucha mannerthatitharmsthesecuritysystemsenabledontheDevice.
• MerchantshallnotleaseorreselltheDeviceand/orsuchotherservicesasmaybemutuallyagreedto betweenMerchantandRazorpayPOStoanyotherPartywithoutthepermission,inwriting,ofRazorpay
• RazorpayPOSshallbeentitledtochargeMerchantforthecostsandchargesoftheDevice(including accessories)and/orthecostsofrepairingtheDevice/sintheeventtheDevice(s)is/aredamagedorlostasa resultofimproperhandlingbyMerchantunlesstheDeviceisbought(andnotleased/rented)byMerchant from Razorpay POS.
• IncasetheDeviceisprovidedbyRazorpayPOStoMerchantonrentalbasis,thentheDeviceshallbe theexclusivepropertyofRazorpayPOS,andMerchantshallforthwith(notlessthan3days)surrenderthe During thetenureofthisarrangementandthereafterMerchantshallnotclaimanyright,title,interestorlienoverthe Device.
• IncasetheDeviceisprovidedbyRazorpayPOSonleasetoMerchant,Merchantshallnot(i)sell, assign,transfer,leaseorotherwisecause\oralloworattempttocauseorallow,anydealingswiththeDevice oranyencumbranceontheDevicetobecreated(ii)remove,concealoralteranymarkings,tagsorplates attachedtotheDeviceorpartofitindicatingRazorpayPOS’ownershipoftheDevice(iii)reverseengineer, decompile,disassemble,tamperwithorotherwiseseektoobtainthesourcecodeornon-publicAPIstothe softwareortheRazorpayPOS;(c)copyormodifythesoftwareorRazorpayPOSoranydocumentation,or createanyderivativeworkfromit(iv)CauseorallowRazorpayPOS’righttoaccess,repossessionor dispositionoftheDevicepursuanttothisAgreementorotherwisetobeencumberedinanywayjeopardized byanyactof/byMerchantoritsservantsoragentsorbyanyotherfactorwithinitscontrol(iv)Permitany thirdpartytoperformthemaintenanceservicesontheDeviceoreffectmodifications,enhancementor software/hardwarechangestotheDevicewithoutthepriorwrittenconsentofRazorpayPOS.
• ThelossordamagecausedtoRazorpayPOSarisingoutofnegligence,ormisuseoftheDeviceand/or defaultinpaymentduetoanyreasonwhatsoeverorthatofanytelecommunicationdevicesattachedto/ inbuiltwithin/embeddedintheDevice,bytheMerchantoritsemployeesshallbetotheaccountof Merchant,andRazorpayPOSwillrecoversuchlossesandexpensesfromMerchant.
• MerchantshallpermittherepresentativesofRazorpayPOSoranyotherconcernedserviceproviderto carryoutphysicalinspectionsoftheDeviceortelecomequipment(orpossessionofanyofthese,incaseof terminationofthisarrangement)duringbusinesshours,withorwithoutpriornotice(incaseswhereDevices are taken on rental basis).

• YouagreethatRazorpay,mayobtaininformationrelatedtoaccountsandtransactionalongwithpersonal informationoftheMerchantanditsrespectiveCustomers,andRazorpaymayusethesuchdatatoanalyse, improve,market,supportandoperatetheRazorpayPOSandtheservicesandotherwiseforanybusiness purposeduringthetermandafterterminationofthepresentengagement.Allusageofsuchdata,itsretention andprocessshallbegovernedunderapplicablelaw(s)andinternalpolicesofRazorpay.
• LimitedtothejurisdictionofIndia,Merchantshallensurethat:(a)itenterintotransactionsonlyin IndianRupeesunlessotherwisepermittedbyBank/Razorpayinadvanceinwriting;(b)Retaininvoices, chargeslip’sandtransactionaldataforaminimumperiodofsix(6)monthsandprovidethesameinlegible formatasandwhenrequiredbyRazorpay,(c)whilepresentinganytransactioninformation,certifyto Razorpaythat(i)thatthesaleofsuchgoodsand/orservicesarenotunlawful,(ii)thetransactioninformation pertainingtoeachsalehasbeensuppliedonlyonce(iii)Merchanthassuppliedgoodsand/orservicesto whichthetransactioninformationrelatesandtothevaluestatedtherein,and(iv)allstatementsoffacts (d)intheeventRazorpayPOSisleasedbyRazorpay, acceptanydecisiontoremovethesaidPOSduetothereasonofnon-performanceofthetermmentioned hereinoranyfraud(e)theMerchantshallimmediatelyreturntheEquipmenttoRazorpayuponrequest.
• RazorpayshallhavetherighttorecoverortakebacktheRazorpayPOSwhere(a)YOUareinbreachof itsapplicableTermsandConditions;(b)UponterminationorexpiryofthisTermsandConditions;(c)Upon YOURfailuretopaytheFeesforaperiodof60days;(d)AtRazorpay’
• Incases of rentalDevices, any lossesor damages causedto Devices shallbe calculated asbelow:

• Lost/Misplaced/IrreparableDevicecharges:Intheeventthereisanyloss/misplacement/irreparableharm toaDevice,theMerchantshallbeliabletopaythefullPriceoftheDevice,inadditiontotheapplicable
• DamagedRepairableDevices(includingaccessories):TheMerchantshallbeliabletopayrepaircharges includinginspectioncharges,asincurredbyRazorpayPOSatactuals.

2.    Chargebacks

• IfaFacilityProvidercommunicatestoRazorpaythereceiptofaChargebackRequest,Youwillbe notifiedoftheChargeback.YouagreethatliabilityforChargebackrestswithYou.Subjecttoavailabilityof funds,RazorpayuponreceiptofaChargebackRequestshallforthwithdeductChargebackAmountfromthe TransactionAmountswhichmaybeused,basedonthedecisionoftheFacilityProvider,eithertoa)process Chargebackinfavourofthecustomerorb)credittoYou.Fortheavoidanceofdoubt,Razorpayshallbe Youshallbeentitledto furnishtoRazorpaydocumentsandinformationpertainingtotheTransactionassociatedwiththeChargeback Requestinordertosubstantiate(i)thecompletionoftheaforesaidTransaction;and/or;(ii)deliveryof goods/servicessoughtbythecustomerpursuanttothesaidTransaction.YoushallfurnishtheChargeback Documentswithinthree(3)calendardays(orsuchotherperiodspecifiedbytheFacilityProvider)of receivingnotificationoftheChargebackRequest.
• Youagreethat(i)ifYouareunabletofurnishChargebackDocuments;and/or;(ii)theFacilityProvideris notsatisfiedwiththeChargebackDocumentsfurnishedbyYou,thentheFacilityProvidershallbeentitledto orderRazorpaytoeffectareversalofthedebitoftheChargebackAmountassociatedwiththeChargeback suchthatthesaidChargebackAmountiscreditedtothecustomer’
• NotwithstandinganythingintheseTerms,iftheFacilityProviderschargetheChargebackAmountfrom RazorpaythenYouagreeandacknowledgethatRazorpayisentitledtorecoversuchChargebackAmount fromYoubywayofdeductionfrom(i)theTransactionAmountstobesettledtoYouand(ii)anyofYour Providedhowever,iftheavailable TransactionAmountsorotherfundsareinsufficientfordeductionoftheChargebackAmount,thenRazorpay isentitledtoissueadebitnoteseekingreimbursementoftheChargebackAmount.Youshallreimbursethe ChargebackAmountwithinseven(7)daysofreceiptofthedebitnote.

• OntheissuanceofnoticeofterminationoftheTerms,Razorpayreservestherighttowithholdfromeach settlementmadeduringthenoticeperiod,asumcomputedbasedonaStipulatedPercentage(defined hereinbelow)foraperiodofonehundredandtwenty(120)days(“ WithholdingTerm”)fromthedateof ThesumssowithheldshallbeutilizedtowardssettlementofChargebacks.After processing such Chargebacks, Razorpay shall transfer the unutilized amounts, if any, toYou forthwith upon completionoftheWithholdingTerm.ThestipulatedpercentageistheproportionoftheChargeback AmountsoutofthetotalTransactionAmountssettledduringthesubsistenceoftheseTerms.
• NotwithstandinganythinginthisSpecificTermsofUse,iftheamountwithheld,asspecifiedaboveis insufficienttosettleChargebacksAmountsreceivedduringtheWithholdingTerm,thenRazorpayisentitled toissueadebitnoteseekingreimbursementoftheChargebackAmount.YoushallreimbursetheChargeback Amountwithinseven(7)daysofreceiptofthedebitnote.
• ThefollowingappliesforChargebacksassociatedwithEMIproductswhicharesupportedbyFacility Foranyloancancellationrequests,YouneedtorespondtoRazorpaywithin7workingdayswitha suitableresponse.Ifloanistobecancelled,thenthesameneedstobeinformedtoRazorpayandif cancellationrequestistobedeclinedthenYouneedtoprovideproofofdeliveryandjustification.Forloans whichwouldgetcancelledonthebasisofYourconfirmation,theamountwouldberecoveredfromthedaily settlement.

3.    Refunds

• YouagreeandacknowledgethatsubjecttoavailabilityoffundsreceivedintheEscrowAccount,Youare
• YoufurtheragreeandacknowledgethatinitiationofRefundsisatYourdiscretionandRazorpayshall
• AllRefundsinitiatedbyYoushallberoutedtothesamepaymentmethodthroughwhichtheTransaction was processed.
• YouagreethatRazorpayfeesshallalwaysbeapplicableandpayablebyYouoneachTransaction, irrespective of the Refunds.

4.    Payment

• ChargesassociatedwiththeprovisionofServicestotheMerchantandDeviceRentals(“Fees”)shallbein accordancewiththepricingtermsagreedtobytheMerchantatthetimeofsubscribingtotheServicesonthe Website.TheMerchantagreesthatsuchFeesshallbechargedaccordingtothemanner,ratesandfrequency AllFeeswillbedeductedfromthemoniesrequiredtobesettledtothe Merchant.However,iftheDevicerentalsarenotdeductedfromthetransactionsettlementamountthenthe samewillbedeductedfrome-nach/e-mandatesetupbytheMerchantattheinstructionofRazorpayPOS.
• ThePartiesagreethattheFeesareexclusiveofapplicabletaxesandRazorpayshallchargesuch Itisagreedthatanystatutoryvariationsinapplicabletaxes duringthesubsistenceofthisAgreementshallbebornebytheMerchant.
• IntheeventofanydelayinpaymentofanyamountstoRazorpaybeyondtheduedateofpayment, Razorpayatitssolediscretionmayoptoneormoreofthefollowingremedies:

1. Chargealatepaymentinterestattherateof15%perannumonthedueamount;
2. SuspendsomeoralloftheService(s)itprovidesunderthisagreement,untilpaymentofthedueamount. Consequently,itisagreedbetweenthepartiesthatRazorpayshallnotbeliableforanyloss,damages,claims includingthirdpartyclaims,whichmayresultowingtosuspensionofsomeorallofservicesbyRazorpayin caseofnon-paymentordelayedpayment.

•  

PRIVACY

 

YOURPRIVACYISEXTREMELYIMPORTANTTOUS.UPONACCEPTANCEOFTHESETERMSYOUCONFIRM THATYOUHAVEREAD,UNDERSTOODANDUNEQUIVOCALLYACCEPTEDOURPOLICIES,INCLUDINGTHE PROVISIONS OFOURPRIVACYPOLICY.

 

Youmayaddressanycomplaintsordiscrepanciesinrelationtotheprocessing(includingstoringandusing) ofYourPersonalInformation(includingSensitivePersonalInformation)to:

DPO

 

MR.SHASHANKKARINCHETI

 

RAZORPAYSOFTWAREPRIVATELIMITED

 

ADDRESS:NO.22,1STFLOOR,SJRCYBER,LASKAR-HOSURROAD,ADUGODI,BANGALORE-560030

 

E-MAIL:dpo@razorpay.com

 

GRIEVANCESPORTAL:https://razorpay.com/grievances/COMPLAINTSAND GRIEVANCE REDRESSAL

ANY COMPLAINTSORCONCERNSWITHREGARDSTOCONTENTOFTHISWEBSITEORCOMMENTOR BREACHOFTHESETERMSORANYINTELLECTUALPROPERTYOFANYUSER,INSTANCESOF CUSTOMERGRIEVANCES,REGULATORYQUERIESANDCLARIFICATIONSSHALLBE INFORMED/COMMUNICATEDTOTHENODAL OFFICER AT THECOORDINATESMENTIONEDBELOWIN WRITINGORBYWAY OF RAISINGAGRIEVANCETICKET THROUGHTHEHYPERLINKMENTIONED BELOW:

NODALOFFICERMR.VIJAYTHAKRAL

RAZORPAYSOFTWAREPRIVATELIMITED

 

ADDRESS:NO.22,1STFLOOR,SJRCYBER,LASKAR-HOSURROAD,ADUGODI,BANGALORE-560030

 

E-MAIL:nodal-officer@razorpay.com

 

GRIEVANCESPORTAL:https://razorpay.com/grievances/

 

AcceptanceDetails

 

OwnerName	CKNINNOVATIONSPRIVATELIMITED
IPAddress	10.26.130.42
DateOfAcceptance	2026-01-2822:08:42IST
SignatoryName	.SATISH
ContactNumber	+917305004689
Email	satshare2020@gmail.com