Terms & Conditions

PAYSE – CUSTOMERS TERMS AND CONDITIONS

The terms and conditions (as may be amended from time to time) is a legal contract between you being, an individual customer, user, or beneficiary of PaySe Services/PaySe Platform(Hereinafter to be referred as “you/your/user/Customer”) and Nucleus Software Exports Limited (hereinafter to be referred as “we/us/NSEL”) having its registered office at 33-35, Thyagraj Nagar, New Delhi-110003 and its Corporate Office at A-39, Sector-62, Noida-201307.

1. INTRODUCTION

PaySe is a semi-closed pre-paid payment Instrument issued and operated by NSEL under authorization received from the Reserve Bank of India (RBI).The purpose of theseterms and conditions is to define theprovision and use of /PaySe Services/PaySe Platform. Use of PaySe Services/PaySe Platform in any form is subject to your adherence with the terms and conditions set forth below including relevant policies
The Customer on opening and using aPaySe Account through PaySe Card, PaySe Device , Web, App or any other mode or channel shallbe deemed to have read, understood and accepted these terms and conditions.NSELreserves the absolute right to withdraw/change/modify/suspend/cancel and/or alter these terms and conditions or portionthereof any time without further notice,and the Customer agrees to be bound by such amended/ altered terms and conditions by continuing to use the PaySe Platform. The updated terms will be posted on PaySe’s website/application www.meraPurse.PaySe.cash.

2. DEFINITIONS


I. ““Charges” or “Service Charge” shall mean the charges which wemay levy upon the Customer in consideration for delivering PaySe Services.
II. “Conversion Point” shall mean a specially appointed agent who will convert physical cash into digital cash on the request of Customer by loading/ topping-up the Customer’s PaySe Account.
III. “Customer” means an Indian resident individual and has registered with usfor availing PaySe Services and is competent to contract under the Indian laws.
IV. “Field executive” or “Sales executive” means individuals which are either on payroll of NSEL or third party agents specifically deployed to onboard NSEL Customers.
V. “Know Your Customer” or “KYC” refers to the various norms, rules and laws issued by RBI and under Prevention of Money Laundering Act, 2002 and Prevention of Money Laundering Rules, 2005 as amended) from time to time under which wearerequired to identify and verify such identity of individuals registering as a Customers.
VI. “Merchant” or “Merchant Establishment” shall mean and include physical merchants and online merchants which have been authorized by usto accept paymentsmade through PaySe Account.
VII. “Password” refers to an alphanumeric string required for authenticating the usage of PaySe services in online mode.
VIII. “PaySe Account” refers to the semi-closed prepaid payment instrument issued and operated by usas an authorized entity under the Payments & Settlements Systems Act and applicable Regulations. This account may be operated by the Customer through a PaySe Deviceand/or offline (physical) card or, using PaySe website/mobile application, services of Conversion Point,etc. in accordance with the prescribed regulations and terms of this T&Cs. Post successful onboarding a Customer can request for the physical card/ Device which will enable the Customer to perform offline transactions at registered merchant outlets/Conversion Points.
IX. “PaySe Card” refers to a physical card which carries NSEL’s logo and other information provided to Customer for the purpose of availing services defined herein.
X. “PaySe Platform” refers to any/all associated technology, devices, methods, applications, instruments etc. used in providing PaySe Services.
XI. “PaySe Services” refers to the services offered by NSEL in lieu of PaySe Account.
XII. “PIN” refers to a four digit numeric field used by the Customer for authenticating transactions using PaySe card in an offline mode.
XIII. “PaySe Device” refers to a device which may be purchased by the Customer from NSEL, for holding the PaySe Account balances and initiating payments.
XIV. “Transaction/s” means cash-in, purchase or payment for goods or services from merchant establishments/ Conversion Points, funds transfer and any other service added from time to time as permissible for a semi closed prepaid payment instrument. This will include all financial transactions conducted using the PaySe Account.

3. KYC DOCUMENTATION AND LIMITS



The Customer shall be provided with PaySe Services associated with a Low KYC Account and within limits/restrictions/requirements as prescribed by Applicable Law (currently upto Rs.10,000 per month). Services for Full KYC account will also be available to the Customer upon successful completion ofprescribed KYC requirements (currently upto Rs.1,00,000/- at any point of time).
II. The list of documentswhich may be provided by the Customer as a proof of address (POA) and proof of identity (POI),any one, for a full KYC account, as mentioned below:
a. Passport
b. Aadhaar Card/ Letter issued by UIDAI for the same
c. PAN Card (This will be treated only as a POI and the Customer will be required to provide another document mentioned in the list as POA)
d. Driver’s License
e. Voter’s ID Card
f. Job Card issued by MNREGA
III. Wereserve the right to discontinue service or reject applications for PaySe Account at any time if there are discrepancies in the information and/or documentation provided by the Customer.
IV. Any information provided to NSEL for securing PaySe Services shall vest with NSEL, and may be used by NSEL, for any purpose consistent with any applicable law or regulation, at its discretion. Wemay further request the existing Customers / beneficiaries of the PaySe Device/ card to submit additional KYC documents for the purpose of ongoing monitoring and Customer due diligence.
V. The amount that can be transacted in the PaySe Account is governed by Applicable Laws including rules, regulations and guidelines laid down by RBI which include monthly limits, transaction limits and balance limits on the PaySe Account. Subject to any change in Applicable Law including guidelines/notifications issued by RBI from time to time the limitations stated hereunder may be reviewed and modified at the discretion of NSEL without prior intimation to the Customer.
VI. The per transaction limit for Bank Transfers and Funds Transfers to other PaySe Account is Rs. 5,000/- per transaction and the monthly limit of Funds Transfers to Bank or PaySe Account is Rs. 25,000/- (this services are restricted for Low KYC PaySe Account holder as per PBI guidelines). These limits may be revised from time to time, in accordance with prevailing RBI guidelines.
VII. The prescribed account limits may be revised by NSEL in accordance with the instructions of the regulator at any given point in time. Any change in such limits will be intimated to the Customer through such terms and conditions or any other mode as communicated by NSEL/regulator from time to time.

4. CUSTOMER OBLIGATIONS



Where the PaySe Cardis being used to access PaySe Account, loss of PaySe Card orany known/suspected fraudulent transaction must be reported to us by the Customer immediately. Such complaint can be reported at the Customer care email id PaySeSupport@nucleussoftware.com,We reserve the right to restrict transaction on such account, in order to prevent any unauthorized usage of the PaySe account.
II. In case of failed transactions, Customer shall report NSEL immediately about the same. NSEL, on receipt of such complain, within a period of two (2) months,shall verify the failed transaction and take corrective steps accordingly.
III. We will not be liable for any transactions conducted prior to intimation to the call center about the loss of PaySe Card and fraudulent transaction as stated above. Customer may be required to prove such alleged loss or fraudulent transaction.
IV. Under no circumstances should the Customer share his/her Password/PIN with anyone, including any NSEL official or CP of NSEL/PaySe. The disclosure of the Password/PIN to a third party shall be at the sole risk and consequences of the Customer, and weshall not be liable in any way for any loss suffered by the Customer.
V. The Customer shall not use NSEL Services for any purpose that might be construed as contrary or repugnant to any applicable law or for any purpose that is contrary to NSEL’s policy or terms and conditions detailed herein
VI. For full KYC Customers, in case of any change in the information/documents provided to NSEL at the time of onboarding, the Customer is liable to intimate NSEL regarding the same and provide adequate documents as proof for the same.

5. FEES AND CHARGES

Customer shall pay the Service Charges prescribed by NSEL in the form and manner prescribed for such payment. NSEL may at its discretion, change, amend, increase, or reduce the Service Charges without prior intimation to the Customer.
PaySe reserves the right to levy charges or charge a commission upon any amounts loaded upon Your PaySe Accountor any amounts spent/utilized by customer using PaySe Account. There would be no interest payable by PaySe on the balances kept in your PaySe Account. The current charges (which may be changed in future at our sole discretion and after giving due notice) are as follows:

6. VALIDITY, FORFEITURE, SUSPENSION/ DISCONTINUATION OF PAYSE SERVICE



A Customer will be able to use the PaySe Account for indefinite period subject to the following conditions:
II. Where the PaySe Account of a Customer is inactive for a period of twelve(12) months, the Customer will be given a notice period of 45 days to utilize any unused funds in the account.
III. Post completion of aforesaid period, the Customer’s PaySe Account will be suspended and the Customer will be provided an additional grace period of one (1) month for claiming the unused funds
IV. The PaySe Account is valid for 12 months from the (i) date of issuance/activation; or (ii) last financial transaction conducted by the Customer, whichever is later. Any unutilized balance remaining in the PaySe Account after the date of expiry maystand forfeited, at the discretion of NSEL. In such an event NSEL shall give 45 (forty five) days’ notice to the Customer in accordance with the RBI Guidelines before termination of PaySe wallet account and forfeiture of balance.
V. In case of death of the Customer, the legal heir shall be bound by thepolices of NSEL. The legal heir shall submit necessary documents and information with NSEL as requested for processing the legal heirs claim.
VI. We reserve the right to terminate Customer’s PaySe Account at any time if we have reason to believe that the Customer’s PaySe Account is being used by any person who is not eligible, or not in compliance with the terms and conditions detailed herein . The PaySe Account balance in all such cases would be forfeited.
VII. We reserve the right to modify, terminate or suspend any/all PaySe Platform related services to the Customer at any time without prior notice due to any changes in internal policy or due to RBI Regulations or other applicable laws.
VIII. PaySe Services will be discontinued/ suspended or closed in cases of:
a. Potential fraud, sabotage, willful destruction, threat to national security or any other force majeure reasons etc.;
b. If the relevant scheme is being wound-up or is directed by the RBI or any other Regulatory/Statutory Authority to be discontinued;
c. In case of occurrence of transactions which may be construed as dubious or undesirable;
d. Any other scenario as prescribed by RBI from time to time.
e. Wereserve the right to freeze the operations of such accounts, and/or close the accounts and /or report them to the appropriate authorities.
IX. Prior to such suspension/discontinuation of the PaySe services, the Customer, at the sole discretion of NSEL or as may be prescribed by the regulator, shall be provided with the ability to utilize and / or transfer the balance funds in the PaySe Account to bank account.

7. INTELLECTUAL PROPERTY RIGHTS AND CONFIDENTIALITY



Both NSEL and the Customer shall keep in confidence any information received by either of them irrespective of the business or the matters concerning the other and shall not disclose the same to any third party, save and except to any State or Central Government or to any of their agencies and / or any other concerned legal and other competent authorities on specific demand or under a general/contractual obligation.
II. The Customer specifically agree that in order to facilitate the provision of PaySe Services, NSEL may be required to disclose any information or particulars pertaining to the Customer to any regulatory and statutory authority.
III. NSEL has and shall continue to have sole and exclusive rights to any and all trade-marks, trade names, trade secrets, design, processes, know-how, copyrights, patents and other intellectual property rights and related rights to the services/product provided to Customer.Customer agrees not to use any logo, trademark or other propriety information of NSEL or PaySe Platform for any purpose except as granted herein.

8. GENERAL TERMS AND CONDITIONS

Any demographic/ personal information, such as such as name, address, contact details (mobile or email address), proof of identity and proof of address, e.g. Aadhaar card that NSEL may collect from Customer, will be used to provide agreed upon services alongwith any other business purposes. Customer data is saved securely in database and back up of database is also encrypted. By agreeing to these terms and conditions, you agree that Nucleusmay use information or data obtained herein for the any business purposes. NSEL also reserves the right to communicate Customer’s personal information to any third party that makes a legally-complaint request for its disclosure.

NSEL, at its sole discretion, with or without reason, and without any financial liability, may suspend or terminate PaySe Services and/or any other services/product under PaySe Platform in entirety or part thereof. You agree that such termination may be effected without prior notice to you, and you also agree that NSEL will not be liable, in any manner, to you or any third party for any such termination or interruption. Upon termination, you agree to immediately stop using the PaySe Services/PaySe Platform.

III. LIMITATION OF LIABILITY

In no event will NSEL be liable for any loss of profits, loss of use, business interruption, and cost of cover or indirect, special, incidental or consequential damages of any kind in connection with or arising out of the furnishing, performance or use of the services performed hereunder. NSEL’s maximum aggregate liability (whether in contract or under any other form or liability) for damages or loss, howsoever arising or caused, whether or not arising from NSEL’s negligence, shall in no event be greater than the amount of INR 500/-(Five Hundred Only).

You agree to indemnify and hold NSEL, its affiliates, employees, directors, officers, agents and its representatives harmless, from any and all losses, damages, actions, claims and liabilities (including legal costs) which may arise, directly or indirectly, from your use or misuse of the PaySe Services/PaySe Platform or from your breach of terms and conditions contained herein. NSEL, at your expense, may defend and settle any matter for which you are required to indemnify NSEL. NSEL shall use reasonable efforts to notify you regarding aforesaid claim, action or proceeding brought by a third party.

SERVICES AND/OR PRODUCT PROVIDED BY NSEL PURSUANT TO THESE TERMS AND CONDITIONS IS MADE AVAILABLE TO THE YOU ON AN “AS IS” BASIS AND NSEL HEREBY DISCLAIMS AND YOU EXPRESSLY WAIVES ANY AND ALL IMPLIED WARRANTIES (STATUTORY OR OTHERWISE), INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE.

We have always given utmost importance to the security of the money you store in your PaySe account. We have a dedicated team which monitors irregular transactions and in case such transaction is detected / reported, we block such account instantly.
In case of any security concerns regarding your PaySe account or any unauthorized payment transaction from your account, give us a call at 958219188 or report the issue at PaySeSupport@nucleussoftware.com and we’ll get in touch with you instantly.
Kindly report cases of unauthorized access in your account as soon as possible. Faster reporting often helps us effectively work towards recovering lost money.
Please refer to the below note for calculating your liability in case a fraudulent transaction:

VII. MISCELLANEOUS

1. A Customer is permitted to maintain only one PaySe Account. Such account cannot be transferred. Any suspected non-compliance with this requirement can result into suspension /discontinuation of any/ all PaySe services.
   b. PaySe Services can only be used for specific purposes such as fund transfers, merchant payments etc. or any other services made permissible by the regulator from time to time. Cash withdrawal and fund transfers to wallets/other platform issued by other entities is not permitted.
   c. Any dispute or complaint (including the discrepancy of transacted amount)against any merchant establishment, for which payment has been made through PaySe Account, must be directly resolved by the Customer with the concerned merchant establishment. NSEL is only an instrument for processing the payment and shall not be responsible or liable for any deficiency in goods and /or services purchased using PaySe services.
   d. The Customer shall not use the PaySe Services for any illegal, unlawful, unauthorized, immoral or fraudulent purpose.
   e. The Customer shall not assign or transfer in any other manner the use of the PaySe Accountor card to any other person/entity, even temporarily.
   f. NSEL or any of its agents shall not be held responsible or liable for loss of the Customer related information and/or instruments of payments or any delay in the receipt when sent by mail or courier or by any other means.
   g. NSEL shall not be responsible for any civil, criminal or any other liabilities incurred by the Customers due to the misuse of the PaySe Services provided by it.
   h. NSEL reserves the right to seek / verify contact information provided by the Customer to NSEL in any manner without notice or intimation. The Customer shall be solely responsible for any errors or omissions in the details provided for provisioning/de-provisioning of the user address for availing of the PaySe Services.
   i. These terms and conditionsaresubject to the RBI’s Master Circular – Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India dated July 01, 2016 and rules framed thereunder and any statutory modification on re-enactment for the time being in force and any Government/RBI regulations issued from time to time.
   j. In the event of any of these terms and conditions becoming invalid, illegal or unenforceable in any respect under the law, such invalidity, illegality or un-enforceability shall not, in any manner, affect or impair other terms and conditions but this agreement shall be construed as if such an invalid or illegal or unenforceable terms and conditions had never been contained herein.
   k. In addition to other remedies wemay have at law or in equity, we reserve the right to report suspected fraudulent or illegal activity to appropriate law enforcement authorities.
   l. All disputes pertaining to PaySe Platform will be resolved by NSEL at its sole discretion. Decision of NSEL in this regard shall be final and bindingon Customer.
   m. In all respects these terms and conditions shall be governed by the substantive laws of India without regard to conflict of law principles. Also, the Courts at New Delhi alone shall have jurisdiction over any dispute which arises pursuant terms and conditions contained herein.
   n. These terms and conditions are the complete and exclusive statements of the agreement between the Customer and NSEL. It supersedes all the understandings or other prior agreements, whether oral or written, and all representations or other communications between the Customer and NSEL.

VIII. PROHIBITIVE SERVICES

Any Merchant / Customer should not engage in selling / providing below prohibitive services:
1. Adult goods and services which includes pornography and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services; Website access and/or website memberships of pornography or illegal sites;
2. Alcohol which includes alcohol or alcoholic beverages such as beer, liquor, wine, or champagne;
3. Body parts which includes organs or other body parts;
4. Bulk marketing tools which includes email lists, software, or other products enabling unsolicited email messages (spam);
5. Cable descramblers and black boxes which includes devices intended to obtain cable and satellite signals for free;
6. Child pornography which includes pornographic materials involving minors;
7. Copyright unlocking devices which includes Mod chips or other devices designed to circumvent copyright protection;
8. Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials;
9. Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software;
10. Counterfeit and unauthorized goods which includes replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods;
11. Drugs and drug paraphernalia which includes illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms;
12. Drug test circumvention aids which includes drug cleansing shakes, urine test additives, and related items;
13. Endangered species which includes plants, animals or other organisms (including product derivatives) in danger of extinction;
14. Gaming/gambling which includes lottery tickets, sports bets, memberships/ enrolment in online gambling sites, and related content;
15. Government IDs or documents which includes fake IDs, passports, diplomas, and noble titles;
16. Hacking and cracking materials which includes manuals, how-to guides, information, or equipment enabling illegal access to software, servers, website, or other protected property;
17. Illegal goods which includes materials, products, or information promoting illegal goods or enabling illegal acts;
18. Miracle cures which includes unsubstantiated cures, remedies or other items marketed as quick health fixes;
19. Offensive goods which includes literature, products or other materials that:
(a) Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors;
(b) Encourage or incite violent acts;
(c) Promote intolerance or hatred.
20. Offensive goods, crime which includes crime scene photos or items, such as personal belongings, associated with criminals;
21. Pyrotechnic devices, combustibles, corrosives and hazardous materials which includes explosives and related goods; toxic, flammable, and radioactive materials and substances;
22. Regulated goods which includes air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications;
23. Securities which includes government bonds or related financial products;
24. Tobacco and cigarettes which includes cigarettes, cigars, chewing tobacco, and related products;
25. Traffic devices which includes radar detectors/jammers, license plate covers, traffic signal changers, and related products;
26. Weapons which includes firearms, ammunition, knives, brass knuckles, gun parts, and other armaments;
27. Wholesale currency which includes discounted currencies or currency exchanges;
28. Live animals or hides/skins/teeth, nails and other parts etc. of animals;
29. Multi-Level Marketing collection fees;
30. Matrix sites or sites using a matrix scheme approach;
31. Work-at-home approach and/or Work-at-home information;
32. Drop-shipped merchandise;
33. Any product or service which is not in compliance with all applicable laws and regulations.;
34. The Merchant providing services that have the potential of casting the Payment Gateway Facilitators in a poor light and/or that may be prone to Buy & Deny attitude of the cardholders when billed (e.g. Adult material/ Mature content/Escort services/ friend finders) and thus leading to chargeback and fraud losses;
35. Businesses or website that operate within the scope of laws which are not absolutely clear or are ambiguous in nature (e.g. Web-based telephony, Website supplying medicines or controlled substances, website that promise online match-making);
36. Businesses out rightly banned by law (e.g. Betting & Gambling/ publications or content that is likely to be interpreted by the authorities as leading to moral turpitude or decadence or incite caste/communal tensions, lotteries/sweepstakes & games of chance;
37. The Merchant who deals in intangible goods/ services (eg. Software download/ Health/ Beauty Products), and businesses involved in pyramid marketing schemes or get-rich-quick schemes. Any other product or service, which in the sole opinion of NSEL, is detrimental to the image and interests of company, as communicated to the Merchant from time to time. This shall be without prejudice to any other terms & conditions mentioned herein ;
38. Bulk marketing tools which includes email, lists, software, or other products enabling unsolicited email messages (spam);
39. Web-based telephony/ SMS/Text/Facsimile services or Calling Cards. Bandwidth or Data transfer/ allied services. Voice process /knowledge process services; and
40. Mailing lists
41. Virtual currency or credits that can be monetized, re-sold or converted to physical or digital goods or services or otherwise exit the virtual world.
42. Money laundering services.
43. Database providers (for tele-callers).
44. Bidding/Auction houses.
45. Firms promoting business opportunities, investment opportunities and mortgages

Customer Grievance Policy
Objective:
The purpose of this policy is to provide a framework to employees for handling customer’s complaints. Ensure consistency in handling and resolving complaints from customers and support our commitment to provide quality product and services to customers. The core objective of this policy is to ensure that all customers are treated fairly and are given required assistance within stipulated timeframe. This policy also covers the initiatives which the entity will entail to ensure customer education
Complaint Channels:
Customers can raise their complaints / queries over phone / internet
I. Customer care number 9582191818
II. Email Address- PaySeSupport@nucleussoftware.com
Complaint Tickets:
The customer will be given an acknowledgement/ complaint ticket number of complaint once ticket is logged in the system
Redressal mechanism for grievances raised by customers:
Level 1

Customers can access self-help material provided by our field executive or Information can also be attained from the Frequently Asked Questions (FAQ) page on our website https://merapurse.payse.cash/FAQ

Level 2
Customer care is responsible for resolution of all customer queries / complaints
I. The Customer can contact
9582191818
or
PaySeSupport@nucleussoftware.com

for any queries/grievances with respect to PaySe™ Services and its functioning.

Resolution time: 15 working days

Note: In case customer is not satisfied with the response of the query / complaint resolution needs additional time, PaySe will inform the customer the reasons for the delay and provide expected timelines for resolution

Escalation Level
If the customer’s issue is not resolved even after contacting the above mentioned modes or if the customer is not satisfied with the response, he/she can reach out to Grievance Redressal Officer at the following:
Mr. Ajay Raj Sharma
Nodal Officer- PaySe,
Nucleus Software Exports Limited,
A-39, Sector-62, Noida-201307
Phone no: 0120-4031400
Email: NodalOfficerPaySe@nucleussoftware.com
Disclaimer:
This policy will be reviewed at least annually or upon any changes in the regulations as suggested by the regulator and shall be approved by the Board