VOLOPAY PLATFORM TERMS AND CONDITIONS

1. GENERAL

a) This document ("Terms") is an agreement between you and VOLOPAY INDIA PRIVATE LIMITED (CIN:UK6910KA2021FTC153594) ("Company") which set outs the term and conditions governing your use and access of:

  • i) the electronic platform that is owned and operated by the Company ("Volopay"); and

  • ii) the products and services offered by the Company and third parties engaged by, or in partnership with, the Company through Volopay ("Services").

b) The version of the Terms currently in force will be available through Volopay and on the official website of the Company at www.volopay.com ("Website") and you agree that it shall be your sole responsibility to check for any updates to the Terms.

c) Our Privacy Policy [link on website] also governs your use of our Service and explains how we collect, safeguard, and disclose information that results from your use of our services.

d) Your agreement with us includes these Terms and our Privacy Policy ("Agreements"). You acknowledge that you have read and understood Agreements, and agree to be bound of them.

e) If you do not agree with (or cannot comply with) Agreements, then you may not use the Service, but please let us know by emailing at in.support@volopay.co so we can try to find a solution. These Terms apply to all visitors, users and others who wish to access or use Service.

f) Notwithstanding that we may notify you of any major changes we made to these Terms and Conditions electronically, you shall be responsible for regularly reviewing these Terms and Conditions. At any time, you can view our current Terms and Conditions on our Website and/or applications. All amendments, supplements and revisions shall be effective upon publication on our Website and/or applications. When you use the Services after our publication of any such amendment, supplement or revision, you are deemed to have read and agreed to the latest version of our Terms and Conditions, Privacy Policy and such other policies and guidelines. If you do not agree to such amendments, supplements or revisions, you shall close your Account and stop using any of the Services.

g) These Terms and Conditions shall be effective and legally binding on the date when (a) Customer creates an Account, affirmatively accepts the Agreement in writing or electronically; or (b) otherwise uses the Services. Subsequently, these Terms and Conditions shall be continued until your termination of use of the Account or the Services.

h) You acknowledge that you and your use of our Services shall be subject to all mandatory provisions of the Applicable Laws. You shall solely be responsible for understanding and complying with any and all laws, rules and regulations of your home country and the Account Jurisdiction that may be applicable to you in connection with your use of our Services, which shall include, without limitation, laws governing payment services, anti-money laundering or anti-terrorist financing requirements, consumer protection, data protection laws, anti-discrimination, gambling, false advertising, illegal sale or purchase or exchange of any goods or services, and those related to export/import activity, taxes or foreign currency exchange or licensing.

i) Volopay is neither a bank nor a credit institution, and we are not permitted to pay interest to you on Funds held in the Payment Account. Our Services might offer features or benefits of a bank account in partnership with respective Service Providers and Bank.

j) We may at any time close, suspend or limit your access to your use of the Services if we suspect that you may have committed any breach to this Agreement or any other agreement you enter into with us or pursuant to any proprietary monitoring used by us when assessing the risk associated with your transaction activity.

k) We may close your Account if your account becomes inactive.

l) You acknowledge and agree that Volopay reserves the right to access and disclose personal data relating to you to third parties to comply with all applicable laws and lawful requests from government and/or other regulatory authorities, and/or to provide services of Volopay or protect Volopay, its customers and other users.

m) The Terms shall be of a continuing nature.

2. ELIGIBILITY

a) To be eligible to use Volopay and/or the Services, you must:

in the case of an individual:

  • i) have attained at least 18 years of age at the time of accessing and/or using Volopay and/or the Services; and

  • ii) have the legal capacity to accept the Terms under the laws applicable to you or,

in the case of a legal entity other than an individual, have the full legal capacity (including obtaining the necessary approvals) to accept the Terms (each an "Eligible User").

b) By accessing and/or using Volopay, you are representing and warranting to the Company that you are an Eligible User.

c) Despite being an Eligible User, the Company reserves the right to limit your access and/or use of Volopay and/or the Services in accordance with the Terms at the sole discretion of the Company.

3. SUBMITTING OF DATA

It shall be your sole responsibility to ensure that any data, document or other information, whether electronic otherwise, that you submit to the Company or through Volopay and/or the Website:

  • i) is complete, true and accurate in all respects at all times;

  • ii) where applicable, is provided within reasonable time;

  • iii) is not false, misleading or deceptive in any respect at all times; and

  • iv) does not omit anything that affects or is likely to affect the meaning or significance of such data, document or other information in any respect at all times.

4. COMPLIANCE WITH THE TERMS AND APPLICABLE LAWS

In accessing and/or using Volopay and/or the Services, you agree that it is your sole responsibility to ensure your compliance with the following at all times:

  • a) the Terms; and

  • b) any applicable laws and regulations (whether in or out of India).

5. DATA COLLECTION

a) In order to access and/or use the Services, you must first register an account with the Company ("Account") which will require you to provide us with data relating to you, including:

  • i) your full legal name;

  • ii) date of birth/incorporation;

  • iii) residential/registered address;

  • iv) in the case of individuals, your nationality;

  • v) AADHAR or PAN or passport number  (in the case of individuals) or unique entity number (in the case of entities);

  • vi) contact details, including an email address and telephone number at which you can be contacted at;

  • vii) other information as may be required to verify data provided by you; and other information as may be required to allow the Company to comply with its anti-money laundering and countering the financing of terrorism obligations under the applicable laws.

b) You may refer to the Personal Data Policy of the Company which is available at www.volopay.com for details on how the Company collects, uses, stores and protects personal data that the Company comes into possession of.

c) The Company reserves the right to request for further information from you relating to your Account (whether active or inactive) at any time.

6. ACCOUNT AND PAYMENT SERVICES

General

i) You may apply for an Account by following the relevant instructions on Volopay.

ii) Where Volopay approves your application, Volopay may provide you with access to an Account and/or such other account, payment or accounts payable functionality as may be made available on the Platform from time to time.

iii) Subject to the applicable approval and eligibility requirements, you may register sub-accounts, payment accounts, virtual accounts, bank accounts or other account structures made available through the Platform ("Account") in accordance with the instructions provided by Volopay.

iv) The Account and related payment functionality may be enabled, supported or facilitated through one or more third-party banks, regulated financial institutions, payment service providers, technology service providers or other service providers engaged by Volopay from time to time ("Service Providers").

v) Depending on the applicable product or arrangement, the Account may include:

  • a dedicated bank account provided by a bank and connected to the Platform for accounts payable and related banking services ("Connected Banking Account"); and/or

  • a virtual account provided through the Platform and facilitated by Easebuzz Private Limited ("Easebuzz") and/or its underlying banking partner, including Slice Bank, where applicable ("Virtual Account").

vi) Easebuzz may act as a technology and/or service provider supporting certain payment and account-related functionality made available through the Platform. Easebuzz does not, solely by virtue of providing such technology or services, become the provider of every Account, Connected Banking Account or banking service made available through the Platform.

vii) Where a Connected Banking Account is provided by a bank, the relevant bank shall be responsible for the provision and operation of such banking account and the underlying banking services, subject to the terms and conditions applicable to that bank account.

viii) Where a Virtual Account is provided through Easebuzz, Easebuzz and/or the relevant underlying banking partner shall be responsible for the applicable Virtual Account services, subject to the terms and conditions applicable to such services.

ix) You acknowledge that different Accounts, banking arrangements, payment services and Service Providers may be subject to separate terms and conditions, eligibility requirements, onboarding requirements, privacy policies, network rules and other applicable terms imposed by the relevant Service Provider.

x) You agree to comply with all applicable terms, requirements and instructions of the relevant bank, Easebuzz and/or other Service Provider in relation to the Account or service being used by you.

xi) Volopay may share information relating to you, your business, your authorised representatives and your transactions with the relevant Service Provider to the extent reasonably required for onboarding, verification, account opening, transaction processing, fraud prevention, compliance, risk management, customer support and provision of the Services.

xii) You authorise Volopay and the relevant Service Providers to request and obtain such information and documents as may reasonably be required to provide the Services in a lawful, prudent and compliant manner.

xiii) You acknowledge that Volopay may change, replace, add or remove any Service Provider, bank, technology provider or underlying infrastructure used to provide the Services from time to time, subject to applicable law and the Terms.

Responsibility for your Account

i) You are solely responsible for your Account and for all activity conducted through your Account by you or your authorised representatives.

ii) Your Account may only be used for legitimate business purposes and in accordance with these Terms, applicable law and the applicable terms of the relevant Service Provider.

iii) You are responsible for ensuring that all information, documents, instructions, beneficiary details, payment information and other information submitted through the Platform are accurate, complete and not misleading.

iv) You are responsible for maintaining the confidentiality and security of your Account credentials, authentication information and access rights.

v) You shall be fully responsible for any communication, transaction, instruction or operation made or attempted through your Account by you, your authorised representatives or any person who has access to your Account, subject to applicable law.

vi) You must immediately notify Volopay if you suspect or become aware of:

  • unauthorised access to your Account;

  • fraudulent or suspicious activity;

  • an unauthorised transaction or payment instruction;

  • misuse of a Connected Banking Account or Virtual Account; or

  • any other compromise of your Account or Account credentials.

vii) Volopay may rely on any instruction received through the Platform that it reasonably believes to have been submitted by you or your authorised representative. Volopay may, however, refuse, delay, suspend or seek additional verification for any instruction where it considers this necessary for security, fraud prevention, compliance, operational or other legitimate reasons.

viii) Records maintained by Volopay in relation to instructions and transactions submitted through the Platform shall, subject to applicable law, constitute evidence of such instructions and transactions.

7. CONNECTED BANKING AND VIRTUAL ACCOUNTS

Connected Banking Accounts

i) Where you use a Connected Banking Account, the relevant bank providing such account shall be responsible for the underlying bank account and banking services.

ii) Any issue relating specifically to the Connected Banking Account, including account access, account status, bank-side transaction processing, banking credentials, account restrictions, bank-side reconciliation or other matters relating to the underlying bank account, should be raised directly with the relevant bank.

iii) You shall keep Volopay informed of any material issue, dispute, suspected fraud, unauthorised activity or service disruption relating to your Connected Banking Account.

iv) Volopay may assist with coordination or troubleshooting where reasonably required, but shall not be responsible for matters that are solely within the control of the relevant bank.

Virtual Accounts

i) Where a Virtual Account is made available to you through Easebuzz, the Virtual Account may be issued, maintained or facilitated by Easebuzz and/or its underlying banking partner, including Slice Bank, as applicable.

ii) Easebuzz shall act as the relevant technology and/or service provider for the applicable Virtual Account functionality.

iii) Any issue specifically relating to the Virtual Account, including Virtual Account setup, account details, account availability, technical connectivity, Virtual Account transactions or other Virtual Account-related matters, should be raised with Easebuzz through the applicable support or service channel.

iv) You shall keep Volopay informed of any material issue, dispute, suspected fraud, unauthorised activity or service disruption relating to the Virtual Account.

v) Volopay may coordinate with Easebuzz and/or the relevant banking partner to assist in resolving such matters where reasonably required.

vi) The availability of any Virtual Account is subject to the applicable onboarding, KYC/KYB, compliance, risk and eligibility requirements of Easebuzz and/or the relevant underlying banking partner.

Service Provider Terms

i) You acknowledge that the use of a Connected Banking Account or Virtual Account may be subject to separate terms and conditions issued by the relevant bank, Easebuzz and/or other Service Provider.

ii) In the event of a conflict between these Terms and the terms governing a specific regulated banking or payment service, the terms applicable to that specific service may govern the relevant service to the extent required by applicable law or the relevant Service Provider's contractual arrangements.

iii) Nothing in these Terms shall be construed as making Volopay the bank, issuer, holder of funds, payment service provider or regulated financial institution responsible for a service that is provided directly by a bank or other regulated Service Provider.

8. FUNDING AND TRANSACTIONS

Funding

i) You may fund or use your Account through the funding methods made available by Volopay from time to time.

ii) Where funding is made through a Connected Banking Account, the relevant bank shall process the underlying banking transaction in accordance with its applicable terms and procedures.

iii) Where funds are received through a Virtual Account, the relevant transaction shall be processed through the applicable Virtual Account infrastructure provided by Easebuzz and/or its underlying banking partner.

iv) The balance or transaction status displayed on the Platform may depend on information received from the relevant bank, Easebuzz or other Service Provider and may be subject to processing, reconciliation or settlement timelines.

v) You acknowledge that Volopay does not guarantee the availability, processing time or successful completion of any transaction where such transaction depends on a bank, Easebuzz or another Service Provider.

Payments and Transfers

i) You may initiate payments, transfers and other accounts payable transactions through the functionality made available on the Platform.

ii) You may only initiate transactions for legitimate and lawful business purposes and to beneficiaries for whom you are authorised to make such payments.

iii) You must ensure that all payment instructions, beneficiary information, invoices, supporting documents and other transaction information submitted through the Platform are accurate, complete and genuine.

iv) You must not use the Platform to initiate, facilitate or disguise transactions that are fraudulent, unlawful, deceptive, unauthorised or otherwise prohibited under these Terms or applicable law.

v) Volopay and/or the relevant Service Provider may refuse, delay, suspend, reverse or otherwise restrict a transaction where reasonably required for fraud prevention, compliance, security, risk management, operational reasons or to comply with the requirements of a bank, payment network, regulator or other competent authority.

vi) A transaction may be subject to additional verification, documentation or approval before it is processed.

Disputes and Service Issues

i) You should promptly notify Volopay of any disputed, unauthorised, fraudulent or incorrectly processed transaction.

ii) Where the issue relates specifically to a Connected Banking Account, you should also contact the relevant bank directly.

iii) Where the issue relates specifically to a Virtual Account provided through Easebuzz, you should contact Easebuzz directly and keep Volopay informed.

iv) Volopay may coordinate with the relevant bank, Easebuzz or other Service Provider where necessary to investigate and resolve the issue.

v) You agree to provide Volopay and/or the relevant Service Provider with all information, documents and cooperation reasonably required to investigate a dispute, suspected fraud, unauthorised transaction or other account-related issue.

All other FAQs and detailed Terms and Conditions can be accessed at: https://easebuzz.in/terms/ 

9. TERMS AND CONDITIONS OF CORPORATE CARD — Powered by LivQuik and PineLabs

a) As part of the Services, you may apply for corporate prepaid cards to be issued to you in relation to each Account ("Corporate Card").

b) All Corporate Cards are issued by LivQuik Technology (India) Pvt Ltd ("LivQuik") and/or PineLabs Limited (“PineLabs”), being the issuer engaged by the Company, and you are required to register an account with LivQuik and/or PineLabs in order to receive any Corporate Card.

c) LivQuik and PineLabs are issuers of Prepaid Payment Instruments (PPIs) under the applicable RBI regulatory framework. The Corporate Card and its use shall be subject to these Terms, the applicable terms and conditions of the relevant Card Issuer, applicable payment network rules and applicable RBI regulations. In the event of any inconsistency relating specifically to the issuance, operation or use of the Corporate Card, the applicable Card Issuer's terms and applicable regulatory requirements shall prevail to the extent required by applicable law.

d) You may apply for a Corporate Card by following the relevant instructions set out in Volopay.

e) The terms and conditions governing each Corporate Card shall apply to you which shall be a part of the onboarding form. Please take some time to read through the terms and conditions governing each Corporate Card as you and/or your authorised representative(s) must accept such terms and conditions before any Corporate Card may be issued to you. Corporate Cards are issued for the use of the approved Account Holder and/or authorised Cardholder(s) only and may not be resold, transferred for value, assigned, exchanged, redeemed for cash or otherwise made available to any unauthorised person or entity. You shall not permit any third party to use or access a Corporate Card except as expressly permitted under the applicable Card programme and these Terms.

f) Cards issued under co-branding arrangement with LivQuik and PineLabs for this program will be valid for 5 years or valid until the expiry date printed on the card (whichever is earliest).

Once the Card linked to wallet is expired the following process shall be followed:

  • A new Card can be reissued based on customer request in lieu of expired card which can be used by card holders.

  • Card which has expired can be blocked and the remaining balance in card can be refunded back to customer.

  • LivQuik and PineLabs may transfer the outstanding balance to its Profit & Loss account three years after the expiry date of PPI. In case the PPI holder approaches LivQuik and PineLabs for refund of such amount, at any time after the expiry date of PPI, then the same shall be paid to the PPI holder in a bank account.

A Corporate Card by respective issuer may be made inactive where there have been no financial transactions on the Card for a continuous period of one (1) year, following notice to the Account Holder and/or Cardholder, and may be reactivated only subject to applicable validation, due diligence and other requirements of Volopay and/or the relevant Card Issuer.

g) Load to Card

  • The amount that can be loaded in the Card Account is governed by policies laid down by RBI. These involve monthly limits, transaction limits as well as balance limits on the account.

  • In addition to RBI guidelines, LivQuik and/or PineLabs at its discretion, could impose further limits on the amount of money you deposit in your account. These limits may change from time to time on LivQuik’s and/or PineLabs’s sole discretion.

  • The Card Account Holder can use multiple funding sources for depositing money in their account. These sources could be but not limited to Prepaid Cards, Debit Cards, Net Banking, and Transfer from another Card Account.

  • In order to manage risk, LivQuik and/or PineLabs may limit the funding sources available for your use to fund any particular transaction.

  • LivQuik and/or PineLabs, along with Volopay will monitor each Deposit made into your account to monitor high-risk & fraudulent transactions. If your deposit is classified as a high-risk transaction or is suspected of fraud, LivQuik and/or PineLabs will place a hold on the deposit and may ask you for more information. LivQuik and/or PineLabs will conduct a review and either clear or cancel the deposit.

  • When you make a deposit, you are liable to Volopay for the full amount of the deposit plus any fees if the deposit is later invalidated for any reason.

h) Features / Condition of Minimum and Full KYC

The default limit on completing the Min KYC requirement by any customer shall be Rs. 10,000. Such PPIs shall be issued by the PPI Issuer after obtaining minimum details of the PPI holder.

1. MIN KYC

  • Minimum details shall necessarily include a mobile number verified with OTP and a self-declaration of name and unique identity / identification number of any mandatory document or OVD.

  • Such PPIs shall be reloadable in nature. Loading / Reloading shall be from a bank account / credit card / full-KYC PPI.

  • The amount loaded in such PPIs during any month shall not exceed Rs.10,000 and the total amount loaded during the financial year shall not exceed Rs.1,20,000.

  • The amount outstanding at any point of time in such PPIs shall not exceed Rs.10,000.

  • These PPIs shall be used only for purchase of goods and services. Cash withdrawal or funds transfer from such PPIs shall not be permitted.

  • PPI issuer shall give an option to close the PPI at any time. The closure proceeds can be transferred back to source account.

  • The features of such PPIs shall be clearly communicated to the PPI holder by SMS / e-mail / any other means at the time of issuance.

2. FULL KYC

  • The Video-based Customer Identification Process (V-CIP) can be used to open full-KYC PPIs as well as to convert Small PPIs into full-KYC PPIs.

  • Such PPIs shall be reloadable in nature.

  • The amount outstanding shall not exceed Rs.2,00,000/- at any point of time.

  • The funds can be transferred back to source account or own bank account of the PPI holder (duly verified by the PPI issuer).

  • PPI issuer shall provide the facility of pre-registered beneficiaries whereby the PPI holder can register beneficiaries by providing their bank account details.

  • In case of pre-registered beneficiaries, the funds transfer limit shall not exceed Rs.2,00,000/- per month per beneficiary.

  • Funds transfer limits for all other cases shall be restricted to Rs.10,000/- per month.

  • Funds transfer from such PPIs shall also be permitted to other PPIs, debit cards and credit cards as per the limits given above.

  • There is no separate limit on purchase of goods and services using PPIs and PPI issuer may decide limit for these purposes within the overall PPI limit.

  • Cash withdrawal shall be permitted upto a maximum limit of Rs.2,000/- per transaction within an overall monthly limit of Rs.10,000/- per PPI across all channels (agents, ATMs, PoS devices, etc.).

3. Cash withdrawal shall be permitted upto a maximum limit of Rs.2,000/- per transaction within an overall monthly limit of Rs.10,000/- per PPI across all channels. The fee applicable on each ATM Withdrawal transaction is Rs 25 + GST 4.5.

4. PPI issuer shall also give an option to close the PPI and transfer the balance as per the applicable limits. The holder shall provide details of pre-designated bank account or other PPIs to which the balance amount available in the PPI shall be transferred in the event of closure of PPI, expiry of validity period of such PPIs, etc.

5. The features of such PPIs shall be clearly communicated to the PPI holder by SMS / e-mail / post or by any other means at the time of issuance of the PPI / before the first loading of funds.

i) Obligations of a PPI Holder

  • i) Account Holder will be liable for all Transactions and for the related charges.

  • ii) Account Holder accepts that at his request and risk Volopay has agreed to provide him the Account wallet & accepts full responsibility for all Transactions recorded by use of his Account.

  • iii) An instruction given by means of the Account shall be irrevocable.

  • iv) Account Holder shall, in all circumstances, accept full responsibility for the use of the wallet, whether or not processed with his knowledge or his authority, expressed or implied.

  • v) Account Holder irrevocably authorizes Volopay to debit the amounts utilized by using the wallet for Transactions to his wallet Account.

  • vi) Account Holder should hold LivQuik and/or PineLabs indemnified and harmless for its actions in good faith and in the normal course of business based on Transactions.

  • vii) Volopay will employ its best efforts in carrying out the Transactions but will not incur any liability either to the Wallet Account Holder or any other person for any reason whatsoever including for its delay or inability to carry out a Transaction or an instruction.

  • viii) You shall be responsible for all applicable fees, charges, surcharges, taxes and other amounts relating to the Corporate Card/Wallet and transactions carried out using the Corporate Card/Wallet, as communicated by Volopay and/or the relevant Card Issuer from time to time. Volopay and/or the relevant Card Issuer may deduct or recover such amounts from the applicable Account or Card balance, where permitted.

  • ix) Any government charges, or debits, or tax payable as a result of the use of Wallet shall be Account Holder's responsibility.

  • x) Amounts due and payable by Account Holder, if not paid separately shall be recovered by Volopay from the Available Amount.

  • xi) Volopay may at its sole discretion withdraw or suspend Wallet or amend any of its features without notice to the Account Holder.

  • xii) Volopay shall have discretion for not to allow the Account Holder to carry out a transaction where it has reason to believe that the use of Wallet is not authorized or the Transaction appears not genuine or unclear or such as to raise a doubt.

  • xiii) Card/Account Holder shall ensure that all information and documentation provided in connection with the Corporate Card, including information relating to the Account Holder and/or Cardholder(s), is true, accurate, complete and up to date. Volopay and/or the relevant Card Issuer may suspend, block or cancel the Corporate Card where any such information is found to be false, inaccurate, incomplete or misleading, subject to applicable law and the requirements of the relevant Card Issuer. Any change to Cardholder information or credentials, including registered mobile number, email address or other details, shall be made through the process prescribed by Volopay and/or the relevant Card Issuer. Where required under the applicable Card programme, such changes may only be requested or authorised by the Account Holder/Card Purchaser.

j) Refund Process

  • The Account Holder and/or Cardholder shall notify Volopay promptly of any unauthorised transaction, transaction discrepancy, irregularity or other issue relating to a Corporate Card transaction and, where applicable, within the period prescribed under the applicable Card Issuer's terms and conditions. Any such dispute shall be handled in accordance with the applicable Card Issuer's dispute and grievance redressal procedures.

  • Account Holder can choose to use Available Amount to pay merchants in exchange of some goods or services provided by the merchant.

  • If the LivQuik/PineLabs Card Account Holder is unsatisfied with the service provided by the merchant or has not received goods promised by the merchant then the Account Holder can raise a dispute with Volopay/LivQuik/PineLabs after first raising and failing to get redressal of his grievance from the concerned merchant. Any such dispute should be raised within a period of 30 days from the date of the payment.

  • LivQuik and/or PineLabs will be the sole arbitrator in these disputes between the Account Holder and the Merchant. LivQuik and/or PineLabs will investigate within 7 working days from the receipt of the complaint.

  • If the dispute is found valid, the amount charged for the payment will be refunded from the merchant and credited back to source within 7 to 10 working days.

  • Complaints and grievances relating specifically to a Corporate Card, including card issuance, transactions, blocking, refunds or other Card-related matters, may also be subject to the grievance redressal process of the relevant Card Issuer, in addition to Volopay's applicable grievance redressal mechanism.

All other FAQs and detailed Terms and Conditions can be accessed at:

10.ACCEPTABLE USE, FRAUD, PROHIBITED AND RESTRICTED ACTIVITIES

Acceptable Use

i) You may use Volopay, the Platform and the Services, including any Account, Connected Banking Account, Virtual Account, Corporate Card, payment functionality or other product or service made available through Volopay (collectively, the "Services"), only for legitimate and lawful business purposes and in accordance with these Terms, applicable laws and regulations, and the applicable terms and conditions of the relevant Service Providers.

ii) You shall ensure that your use of the Services is consistent with the business activities, purpose and information disclosed by you to Volopay during onboarding and at any subsequent review.

iii) You shall be solely responsible for ensuring that all transactions, payments, purchases, card usage, account activity and other use of the Services are authorised, genuine and undertaken for legitimate business purposes.

Accuracy and Non-Misrepresentation

You must not, directly or indirectly:

i) provide, submit, upload or maintain any false, inaccurate, incomplete, misleading or deceptive information to Volopay, any bank, Easebuzz, any card issuer, payment service provider or other Service Provider;

ii) misrepresent your identity, business, ownership, source or destination of funds, business activities, relationship with any beneficiary or merchant, or the purpose or nature of any transaction;

iii) submit, upload or use any fictitious, altered, forged or misleading invoice, receipt, purchase order, supporting document, beneficiary information, payment instruction, transaction record or other information;

iv) impersonate any person or entity or falsely represent your affiliation, authority or relationship with any person or entity;

v) use the Services in a manner intended to conceal, disguise or misrepresent the actual nature, purpose, source, destination or beneficiary of any transaction or activity.

Fraud and Unauthorised Activities

You must not, directly or indirectly:

i) use the Services for any fraudulent, unlawful, deceptive, unauthorised or otherwise prohibited activity;

ii) initiate or facilitate any transaction, payment, transfer or card transaction that you are not authorised to initiate or process;

iii) use, or permit the use of, any Account, Connected Banking Account, Virtual Account or Corporate Card by an unauthorised person;

iv) share, transfer, sell, assign or otherwise provide your Account credentials, authentication credentials, Corporate Card or other access mechanisms to any unauthorised third party;

v) use the Services to facilitate money laundering, terrorist financing, sanctions evasion, fraud, tax evasion or any other unlawful financial activity;

vi) use the Services to circumvent transaction limits, approval requirements, KYC/KYB requirements, card controls, fraud controls, security measures, sanctions restrictions or other compliance requirements;

vii) structure or split transactions for the purpose of circumventing any applicable limit, control, approval or monitoring mechanism;

viii) knowingly process or facilitate transactions involving proceeds of crime or funds derived from unlawful activities; or

ix) assist, permit or knowingly facilitate any other person or entity to engage in any activity prohibited under these Terms or applicable law.

Misuse of Accounts, Cards and Payment Services

 You must not:

i) use any Account, Connected Banking Account, Virtual Account or Corporate Card for any purpose other than the legitimate business purposes for which it has been approved or made available;

ii) use a Corporate Card for personal, unauthorised or non-business expenditure;

iii) allow a Corporate Card to be used by any person other than the authorised cardholder, except where expressly permitted under the applicable card programme;

iv) use any Corporate Card, Account or payment functionality to conduct transactions that are fictitious, circular, self-dealing, unauthorised or otherwise intended to improperly move or obtain funds;

v) attempt to obtain funds, goods, services, credits, refunds or other benefits through fraudulent, duplicate, fictitious or unauthorised transactions;

vi) misuse any refund, reversal, chargeback or dispute mechanism;

vii) manipulate or interfere with transaction records, payment status, card information, account information or other information displayed or processed through the Platform; or

viii) use any technical, operational or other vulnerability in the Platform or any Service Provider's systems for an improper or unauthorised purpose.

Resale, Redistribution and Unauthorised Commercial Use

i) You may not resell, redistribute, sublicense, commercially exploit or otherwise make available any part of the Services to any third party without the prior written approval of Volopay.

ii) Without limiting the above, you must not:

  • offer or provide Volopay's Platform, Accounts, Corporate Cards, payment capabilities or other Services to your own customers, clients, vendors or other third parties as a standalone or bundled service;

  • onboard or attempt to onboard your customers, clients or other third parties under your own Account, business profile or customer relationship with Volopay;

  • issue, distribute, market, promote or arrange access to Volopay Corporate Cards or other payment products for persons or entities that have not been approved by Volopay;

  • package, bundle or combine the Services with your own products or services and offer the resulting product or service to third parties without Volopay's prior written approval;

  • represent or imply that you are an authorised reseller, distributor, issuer, agent, partner or representative of Volopay except to the extent expressly authorised by Volopay in writing; or

  • use the Services as an underlying infrastructure, white-label, embedded finance or "powered by" solution for your own customers or third parties without Volopay's prior written approval.

iii) Volopay may, at its discretion, permit such arrangements, including reseller, referral, white-label, embedded or other partnership arrangements, subject to prior written approval, applicable commercial terms, onboarding requirements, compliance requirements and any additional contractual documentation required by Volopay.

iv) Where Volopay has approved any such arrangement, you shall not represent, market or operate the arrangement in any manner that is inconsistent with the scope of Volopay's approval or the applicable agreement.

Platform and Technical Restrictions

You must not:

i) upload, transmit or introduce any virus, malware, malicious code, destructive code, agent, program, macro or other harmful material into the Platform or any system connected to the Platform;

ii) interfere with, disrupt, disable, overload or compromise the Platform or any systems, networks or infrastructure used to provide the Services;

iii) attempt to gain unauthorised access to any account, system, network, data or information;

iv) reverse engineer, decompile, disassemble, copy, modify or otherwise attempt to derive the source code, underlying technology or proprietary functionality of the Platform, except to the extent expressly permitted by applicable law;

v) scrape, extract, reproduce or systematically collect data or information from the Platform without Volopay's prior written permission;

vi) circumvent or attempt to circumvent any technical, security, access, authentication, fraud or risk-control mechanism implemented by Volopay or any Service Provider; or

vii) use the Platform in a manner that may compromise the security, availability, integrity or operation of the Platform or any Service Provider's systems.

Prohibited Goods, Services and Activities

You must not use the Services for any goods, services, business activities or transactions that are prohibited under applicable law or restricted by Volopay, the relevant bank, card issuer, payment network or other Service Provider.

You must also comply with any prohibited or restricted business categories, merchant category restrictions, transaction restrictions, sanctions requirements and other applicable restrictions communicated to you from time to time.

Verification, Monitoring and Investigation

i) Volopay may conduct checks, reviews and investigations of your Account, transactions, card activity and use of the Services where Volopay reasonably suspects fraud, misuse, unauthorised activity, a breach of these Terms, violation of applicable law or any other activity that may expose Volopay or a Service Provider to financial, regulatory, legal, security or reputational risk.

ii) Volopay may request additional information, documents or explanations from you in connection with your Account, business activities, customers, beneficiaries, transactions, source or destination of funds, card usage or any other matter relevant to the provision or continued use of the Services.

iii) You agree to provide such information and documents promptly and ensure that all information provided is accurate, complete and not misleading.

iv) Volopay may share relevant information with the applicable bank, Easebuzz, card issuer, payment network, other Service Providers, regulators, law enforcement authorities or other competent authorities where reasonably necessary for fraud prevention, investigation, compliance, risk management, security or as required by applicable law.

Suspension and Restriction

Without prejudice to any other rights available to Volopay, Volopay may suspend, restrict, delay, decline or refuse access to any part of the Services or any transaction where Volopay reasonably believes that:

  • your Account, Corporate Card or other Service has been compromised or may be subject to unauthorised use;

  • fraudulent, suspicious, unlawful or prohibited activity has occurred or may occur;

  • you have breached these Terms;

  • information provided by you is false, misleading or materially incomplete;

  • you are using the Services for unauthorised resale, redistribution, white-label, embedded or other third-party use;

  • a transaction or activity may expose Volopay or a Service Provider to financial, regulatory, legal, security or reputational risk;

  • a bank, Easebuzz, card issuer, payment network or another Service Provider has requested or required such action; or

  • such action is necessary to comply with applicable law, regulatory requirements or the requirements of a competent authority.

Where reasonably practicable, Volopay may request additional information or clarification before restoring access or processing a restricted transaction. However, Volopay shall not be required to provide advance notice where doing so may compromise fraud prevention, security, compliance or an investigation.

Cooperation and Responsibility

i) You agree to cooperate fully with Volopay, the relevant bank, Easebuzz, card issuer and other Service Providers in connection with any investigation into suspected fraud, unauthorised activity, misuse, transaction dispute, security incident or breach of these Terms.

ii) You remain responsible for all activity conducted through your Account, Corporate Cards and other Services used by you or your authorised representatives.

iii) You shall be responsible for any losses, costs, claims or liabilities arising from your breach of these Terms, misuse of the Services, unauthorised resale or distribution, or unauthorised use resulting from your failure to maintain appropriate access controls, except to the extent otherwise required by applicable law.

12. TERMINATION

You agree that the Company may, at its sole discretion, deny you access to Volopay (or any part thereof) and/or the Platform Materials (whether in part or in whole) for any reason, including where:

  • the Company believes that you have violated or acted inconsistently with any terms or conditions set out herein;

  • the Company and/or any regulatory authority is of the opinion that it is not suitable to continue providing the services relating to Volopay and/or the Platform Materials, whether generally or specifically to you.

13. INTELLECTUAL PROPERTY

The Company and its licensor(s) (if any) reserve and retains all rights (including copyrights, trademarks, patents as well as any other intellectual property right) in relation to the products, services and all content and data contained in or provided on or via Volopay and/or the Platform Materials (including all texts, graphics and logos).

You may not do anything that will violate or infringe such intellectual property rights and, in particular, you shall not copy, download, publish, distribute, transmit, disseminate, sell, broadcast, circulate, exploit (whether for commercial benefit or otherwise) or reproduce any of the information or content contained in or provided on or via Volopay and/or the Platform Materials in any form without the prior written permission of the Company and/or its licensor(s) (as the case may be).

No part or parts of Volopay and/or any Platform Materials may be reproduced, distributed, republished, displayed, broadcast, hyperlinked, mirrored, framed, transferred or transmitted in any manner or by any means or stored in an information retrieval system without the prior written permission of the Company and/or its licensor(s) (as the case may be).

Subject to any other applicable terms, guidelines, notices, rules and policies, the Company grants you a non-transferable, non-exclusive, revocable, limited licence to use and access Volopay and the Platform Materials solely for your own personal, informational and non-commercial use, provided that you do not modify any Platform Materials and that you retain all copyright and other proprietary notices contained in the Platform Materials.

Save as expressly provided otherwise in the Terms, you acknowledge that you are not granted any licence, interest or right by virtue of your use of or access to Volopay and/or the Platform Materials.

14. LIMITATION OF LIABILITY

In no event will Volopay, or its Service Providers, be liable with respect to any subject matter of this Agreement under any contract, negligence, strict liability or other legal or equitable theory for: (i) any special, incidental or consequential damages; (ii) the cost of procurement for substitute services; (iii) for interruption of use or loss or corruption of data; or (iv) for any amounts that exceed the fees paid by you to Volopay under this Agreement during the twelve (12) month period prior to the cause of action. Volopay shall have no liability for any failure or delay due to matters beyond its reasonable control.

Cross Border Payment Orders can only be executed if they comply with regulatory standards. We will not be held liable for any damages which could result from the non-execution or defective execution of a Cross Border Payment Order where such non-execution or defective execution is due to the fact that the Customer provided information which was untrue, inaccurate, incomplete or incorrect.

You acknowledge that Volopay may provide the Services using facilities provided by banks, payment service providers, clearing networks and other third-party payment processing services. No commercial agreement exists between the Service Providers and yourself and each of the Service Providers will accordingly have no direct liability to you.

We shall not be liable for any underlying sales transactions occurring on the Platform between either you or a Buyer. Volopay has no influence on the underlying process of buying or selling goods, and no legal relationship with the Platform or Buyers.

You shall solely be responsible for reporting to all applicable government tax authorities all Funds underlying your use of the Services and for the payment of any applicable taxes that apply to such payments as well as any other applicable reporting requirements including, but not limited to, any customs or foreign currency controls.

Neither party shall be held liable or considered to have failed under these rules in case of late or non-performance when their cause is related to a force majeure situation.

The maximum liability of Volopay under this Agreement (including any and all claims for breach of this Agreement) for any single event shall not exceed 5% of the Fees collected by Volopay from you for the 12 months immediately before such event. The aggregate maximum liability of Volopay under this Agreement for all events shall not exceed 100% of the Fees collected by Volopay from you for the 12 months immediately before such events.

Except as prohibited by law, you will hold us and our officers, directors, employees, and agents harmless for any indirect, punitive, special, incidental, or consequential damage, however it arises (including attorneys' fees and all related costs and expenses of litigation and arbitration, or at trial or on appeal, if any, whether or not litigation or arbitration is instituted), whether in an action of contract, negligence, or other tortious action, or arising out of or in connection with this agreement.

15. INDEMNITY

You expressly agree to indemnify, defend, save and hold harmless all Relevant Persons from all liabilities, claims and Losses arising out of or in connection with:

  • your Account;

  • the access and use of Volopay;

  • the access and use of the Services, including any Loss incurred or suffered as a result of the Company having to convert any currency;

  • any breach by you of the Terms;

  • any negligent act and/or omission by you in connection with Volopay and/or the Terms, other than through the wilful default or fraud by the Relevant Person.

16. NOTICES

You acknowledge and agree that any communication and/or document to be sent to you may be by way of electronic communication and you shall be considered to have received any such communication and/or document:

  • at the time of which the email containing such communication and/or document is sent to you or such other time as may be prescribed in the email;

  • at the time of posting (whether through ordinary post or otherwise) such communication and/or document to you or such other time as may be prescribed in such communication and/or document;

  • through such other means at such times as the Company may prescribe from time to time.

17. ASSIGNMENT

The Company may, at any time, assign, mortgage, charge or otherwise transfer any or all of our rights and obligations under the Terms without restriction.

You may not assign, mortgage, charge or otherwise transfer any of your rights and obligations under the Terms (including the licence granted to you) without the prior written consent of the Company and any attempted assignment, mortgage, charge or otherwise transfer in violation of the Terms shall be null and void.

18. SEVERABILITY

If any provision of the Terms or part thereof is rendered void, invalid, illegal or unenforceable by any legislation to which it is subject or by a decision of a court of competent jurisdiction ("Affected Provision"), the Affected Provision shall be rendered void, invalid, illegal or unenforceable only to that extent and it shall in no way affect or prejudice the enforceability of the remainder of the Affected Provision or the other provisions of the Terms.

19. WAIVER

No failure or delay to exercise or enforce any right conferred upon the Company under the Terms shall be deemed to be a waiver of any such rights or operate so as to bar the exercise or enforcement thereof at any subsequent time or times.

Any waiver of any right arising from a breach or non-performance of the Terms or arising upon default under the Terms granted to you shall be null and void unless made in writing and signed by the Company.

20. TRANSLATION

If the Terms are translated into a language other than the English language and there is any conflict or inconsistency between such translation and the English text, the English text shall prevail.

21. RIGHTS OF THIRD PARTIES

Save for a Relevant Person(s), no person or entity who is not a party to the Terms shall have any right to enforce the Terms or any part thereof, regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description.

For the avoidance of doubt, any amendments to the Terms in accordance with the provisions herein shall not require any consent from any person or entity (including any Relevant Person) who is not a party to the Terms.

Nothing in the above shall affect the rights of any permitted assignee or transferee under the Terms.

22. GOVERNING LAW AND JURISDICTION

The Terms shall be governed by and construed in accordance with the laws of India.

In the event of any claim, dispute or difference ("Dispute") that may arise out of or in connection with the Terms and/or Volopay (including any question relating to the existence, validity of termination of the Terms), you agree to enter into negotiations with the Company in good faith to resolve such Dispute ("Good Faith Negotiations").

Where a Dispute is not resolved within 30 days of the commencement of Good Faith Negotiations, the Dispute shall be referred to and finally resolved by arbitration in accordance with Arbitration and Conciliation Act, 1966.

The seat of arbitration shall be Bangalore, India.

The arbitration shall be conducted by a single arbitrator and wholly in the English language.

Any decision and/or award made by an arbitrator in accordance with the Terms shall be final and binding on the parties to such arbitration and the parties to such arbitration expressly waive their rights to appeal any such decision and/or award.

23. GRIEVANCE POLICY

We value all our customers, and assure a sincere and transparent approach with all our customers. For the convenience of our customers and to offer optimum support, we, along with our partners, have set up a grievance redressal mechanism and implemented this Grievance Policy for our prestigious customers ("Grievance Policy"). This Grievance Policy aims at minimizing instances of customer complaints and grievances through proper channelized approach, review mechanism and prompt redressal of all customer grievances.

We understand that customer grievances could come in various circumstances like a gap in the promised and delivered service levels. And also due to the genuine technical or communicative errors in the system. Customers have complete authority to share feedback / raise a complaint if they are disappointed with the services rendered by LivQuik and/or PineLabs.

For the purpose of this Grievance Policy, (i) a customer means user of QuikWallet powered by LivQuik and/or PlusPay powered by PineLabs and (ii) a grievance means any gap in the promised and delivered service levels which may be technical or communicative errors. The grievance policy may be viewed here:

https://livquik.com/ppi/grievance-policy/ 

https://www.pinelabs.com/grievance-policy 


24. PROMOTIONAL ACTIVITIES

By using our services, you grant Volopay the right to use your company name and logo for promotional activities, including but not limited to pitch decks, emails, calls, social media posts, case studies, testimonials, and website content. Volopay may use your company name and logo in a manner that accurately represents the nature of our business relationship, without any false or misleading statements. You acknowledge that such promotional activities are intended to showcase the successful use of our services and to raise awareness about Volopay, and you grant Volopay a free license to use your company name and logo for these purposes. If you wish to revoke this permission, you may do so by providing written notice to Volopay. However, please note that this revocation will not affect any promotional activities that have already been initiated or completed prior to receiving your notice. Customers cannot use Volopay's name, trademarks, logos, product names or other brand assets to represent themselves as an authorised reseller, issuer, distributor, agent or partner unless Volopay has expressly authorised this in writing.

Terms and Conditions