Credit Card Distribution Terms and Conditions

This Agreement (defined below) sets forth the terms and conditions that apply to the access and use of the PhonePe Mobile Application and/or any other online platform/website (referred to as “Website“), which is managed and operated by PhonePe Private Limited, (hereinafter referred to as “Company“/ “PhonePe“), incorporated under the laws of India and registered under the Companies Act, 1956.

This Credit Card Distribution Terms and Conditions (referred to as “Agreement”) is an electronic record in terms of Information Technology Act, 2000 and generated by a computer system and does not require any physical or digital signatures. This Agreement is published in accordance with the provisions of Rule 3 of the Information Technology (Intermediaries guidelines) 2011, that provides for the due diligence to be exercised for the access or usage of this Website.

By accessing this Website or registering your information on the Website, the users (hereinafter referred to as “you” or “your“) agree to be bound by this Terms of Use (“TOU“/ “Agreement”). This Agreement along with Privacy Policy and Disclaimer describes our relationship with you will be subject to the rules, guidelines, policies, terms, and conditions applicable to any specific Service that is provided by this Website, and they shall be deemed to be incorporated into this TOU and shall be considered as part and parcel of this TOU.

Be sure to return to this page periodically to review the most current version of the TOU. We reserve the right at any time, at our sole discretion, to change or otherwise modify the TOU without prior notice, and your continued access or use of this Website signifies your acceptance of the updated or modified by TOU.

PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY. YOUR ACCEPTANCE OF TERMS CONTAINED HEREIN CONSTITUTES THE AGREEMENT BETWEEN YOU AND THE COMPANY FOR THE PURPOSE AS DEFINED HEREUNDER.

1. Description and Acceptance of Services

1. PhonePe, hereby offers you access to certain financial products/services including, but not restricted, to credit cards facility (collectively referred as “Service(s)“), offered by its partner financial institutions. 
2. PhonePe through its and/or affiliate’s platform shall offer credit card distribution Services in partnership with partner banks and financial institutions.
3. The above said Services are provided on a commercially reasonable effort basis and you agree that your participation for availing the above-mentioned services is purely at your will and consent.
4. Your continued usage of the services from time to time would also constitute acceptance of the TOU including any updates or modification thereof and you would be bound by this Agreement until this Agreement is terminated as per provisions defined herein.
5. The information/document/details provided by you during the credit card application journey shall be shared by PhonePe to its partner banks for processing the application.
6. Partner banks shall be solely responsible to conduct the KYC and/or other due diligence of the customer and may require additional information/documents/details to be shared with them for processing the application.
7. Partner banks and financial institutions shall be responsible for evaluating the application and be solely liable to decide on approvals and rejections of these applications.
8. PhonePe is not involved in and/or responsible for issuance of credit cards and/or provide any after issuance support regarding the same. 
9. Any fees or charges with respect to issuance or maintenance of the card will be charged directly by the issuing partner bank.
10. Once the card is issued, the users can also link their Rupay Credit Cards to UPI. T&C mentioned here.
11. You agree and authorize Company to share your information with its group companies, partner banks, financial institutions and other third parties, in so far as required for joint marketing purposes/offering various services/report generations and/or to similar services to provide you with various value added services, in association with the Services selected by you or otherwise. 
12. You agree to receive communications through emails, telephone and/or SMS, from the Company or its third-party vendors/business partners/ marketing affiliates regarding the services updates, information/promotional emails and/or product announcements. 
13. In this context, you agree and consent to receive all communications at the mobile number provided by you, even if this mobile number is registered under DND/NCPR list under TRAI regulations. And for that purpose, you further authorize Company to share/disclose the information to any third-party service provider or any affiliate, its group companies, authorized agents.
14. Company will retain and use your information as necessary to comply with our legal obligations, resolve disputes and enforce our agreements entered into for providing services.
15. PhonePe does not provide any warranty or guarantee for issuance/offer applicability of credit cards by the partner banks.

2. License and Website Access

You acknowledge and agree that PhonePe owns all legal right, title and interest in and to the Services, including any intellectual property rights which subsist in the Services (whether those rights are registered or not). You further acknowledge that the Services may contain information which is designated confidential by Company and that you shall not disclose such information without Company`s prior written consent. The contents of the Website, including its “look and feel” (e.g. text, graphics, images, logos and button icons), photographs, editorial content, notices, software and other material are the owned/licensed by/to Company and/or its third Party service providers/their licensors and are duly protected by them under applicable copyright, trademark and other laws.

Company grants you a limited license to access and make use of the Website and its services. This license does not include any downloading or copying of any kind of information for the benefit of another individual, vendor or any other third party or to create a derivative work from, modify, reverse engineer, reverse assemble or otherwise attempt to discover any source code, sell, assign, sublicense, grant a security interest in or otherwise transfer any right in the Services. Any unauthorized use by you shall terminate the permission or license granted to you.

By using the Website you agree not to: (i) use this Website or its contents for any commercial purpose; (ii) make any speculative, false, or fraudulent transaction or any transaction in anticipation of demand; (iii) access, monitor or copy any content or information of this Website using any robot, spider, scraper, or other automated means or any manual process for any purpose without our express written permission; (iv) violate the restrictions in any exclusion headers on this Website or bypass or restrict or circumvent other measures employed to prevent or limit access to this Website; (v) take any action that imposes, or may impose, in our discretion, an unreasonable or disproportionately large load on our infrastructure; (vi) deep-link to any portion of this Website (including, without limitation, the purchase path for any service) for any purpose without our express written permission; or (vii) “frame”, “mirror” or otherwise incorporate any part of this Website into any other website without our prior written authorization or (viii) initiate any fraudulent applications or use the Website to commit any fraud with/on Company/partner banks/financial institutions or any third party(ies).

3. Privacy Policy

By using the Website, you hereby consent to the use of your information as we have outlined in our Privacy Policy. This Privacy Policy explains how the Company treats your personal information when you access the Website.

4. Your Registration/Account

By using the Website and signing up with us, you confirm that you are legally of age to enter into a binding contract and are not prohibited by the laws of India or any other relevant jurisdiction from accessing our services. Your use of the Website is intended solely for genuine usage for yourself. In the latter case, you will ensure that these individuals are informed about the Terms of Use and Privacy Policy that are relevant to the purchase made on their behalf, including all associated regulations and limitation.

You acknowledge and accept that it is your sole responsibility to uphold the confidentiality of your password, which, in combination with your Login ID (as per the relevant Service chosen), grants access to the Service. Your Login ID and password, along with any mobile number or contact details you provide, collectively constitute your “Registration Information.” You commit to maintaining the secrecy of your Login ID and password and agree to control access to your computer. Furthermore, you consent to being accountable for all activities carried out through your account or password. For this reason, it’s strongly advised that you log out of your account at the end of each session. You also agree to promptly inform the Company of any unauthorized use of your account or any security breach. You further agree that the Company will not be held responsible for any unauthorized use or access, unless it can be proven that such unauthorized access occurred solely due to reasons directly attributable to the Company.

You undertake to provide true, accurate, current and complete information about yourself and undertake to inform/update of any change in your Registration Information promptly and keep it up-to-date and accurate at all times, as it has a direct bearing on the provision of services by or through Company. You agree not to misrepresent your identity nor will you make an attempt to make unlawful access to the Website or use of the Services. Additional terms and conditions will apply to your purchase/availing of services that you select. Please read these additional terms and conditions carefully.

5. Customer Due Diligence requirements (CDD)

You agree and acknowledge that for undertaking any financial transaction through the website, Our partner financial institutions shall undertake client/customer due diligence measurers and seek mandatory information required for KYC purpose which as a customer you are obliged to give, while facilitating your request of loan/credit card/mutual fund and other financial product requirements with the banks/financial institutions, in accordance with applicable Prevention of Money Laundering Act (“PMLA”) and rules. Our partner financial institutions may obtain sufficient information to establish, to its satisfaction, the identity of each new customer/user, and to ascertain the purpose of the intended nature of the relationship between you and the bank/financial institution. You agree and acknowledge that the Company can undertake enhanced due diligence measures (including any documentation), to satisfy itself relating to customer due diligence requirements in line with the requirements and obligations under the applicable PMLA Act and rules. You understand and expressly agree for sharing of your information/data/details by the Company with the financial institutions. If you fail to provide the information/data/details to the satisfaction of the financial institution, you may not be able to avail the product/services. KYC and customer due diligence are conducted by the financial institutions alone and the Company is not responsible and liable for the same. The products and services are offered solely by the financial institutions and the Company shall not be liable for any rejection of the application, denial/delay for issuance of product/services by the financial institutions and post issuance usage/servicing of the products/services. 

6. Eligibility

You declare and confirm that you are a resident of India, above 18 (Eighteen) years of age, and have the capacity to contract as specified under the Indian Contract Act, 1872, while availing the Services offered by the Company.

7. Submitted Content

When you share or submit any content, including data and information on the Website, you acknowledge that you are entirely responsible for all the content you post on the Website. The Company will not be held accountable for any content you choose to make available on or through the Website. At Company`s sole discretion, such content may be included in the services (in whole or in part or in a modified form). With respect to such content you submit or make available on the Website, you grant Company a perpetual, irrevocable, non-terminable, worldwide, royalty-free and non-exclusive license to use, copy, distribute, publicly display, modify, create derivative works, and sublicense such materials or any part of such content. You agree that you are fully responsible for the content you submit. You are prohibited from posting or transmitting to or from this Website: (i) any unlawful, threatening, libelous, defamatory, obscene, pornographic, or other material or content that would violate rights of publicity and/or privacy or that would violate any law; (ii) any commercial material or content (including, but not limited to, solicitation of funds, advertising, or marketing of any good or services); and (iii) any material or content that infringes, misappropriates or violates any copyright, trademark, patent right or other proprietary right of any third party. You shall be solely liable for any damages resulting from any violation of the foregoing restrictions, or any other harm resulting from your posting of content to this Website.

8. Third Party Links/Offers

The Website may contain links to other websites or resources. You acknowledge and agree that the Company is not accountable for the availability of these external sites or resources. The Company does not endorse, and is not responsible or liable for, any content, advertising, products, or other materials found on or made available from these sites or resources. You further recognize and agree that the Company shall not be held responsible or liable, either directly or indirectly, for any damage or loss caused or claimed to be caused by, or in connection with, the use of or reliance on any content, goods, or services available through such sites or resources. 

9. Disclaimer of Warranty

You expressly understand and agree that your use of the services and other content (including that of the third parties) included in or accessible from the Website is at your sole risk. The services are provided on an “as is” and “as available” basis. Company makes no representations, warranties or guarantees, express or implied, regarding the accuracy, reliability or completeness of the content on the Website or of the services (whether or not sponsored by third party service providers), and expressly disclaims any warranties of non-infringement or fitness for a particular purpose.

The Company expressly disclaim all warranties of any kind as to the services and all information, products, services and other content (including that of the third parties) included in or accessible from the services, whether express or implied, including but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

Company and its service providers, affiliates, partners banks make no warranty that (i) the services will meet your requirements, (ii) the services will be uninterrupted, timely, secure, or error-free, (iii) the results that may be obtained from the use of the services will be accurate or reliable, (iv) the quality of any products, services, information, or other material purchased or obtained by you through the services will meet your expectations, and (v) any errors in the technology will be corrected.

The Company reserves the absolute right to charge any fee for registration/ membership or browsing fee at any time. All such fees that the Company may charge will be intimated to the users and such change shall automatically become effective immediately after they are posted on the Website. All such fees charged by the Company shall be in Indian Rupees. Your continued use of the Company shall be deemed as an acceptance of the amended terms of the TOU.

While availing any of the payment method/s available on the Website, the Company will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to you due to:

1. Lack of authorization for any transaction/s, or
2. Any payment issues arising out of the transaction, or
3. Illegitimacy of the payment methods (credit/debit card frauds etc.) being used by a you;
4. Decline of transaction for any other reason(s)

Notwithstanding anything contained herein, the Website reserves the right to conduct additional verification for security or other reasons if it is not satisfied with the creditability of you/your transaction.

Company shall not be held responsible and shall bear no liability in case of failure or delay of delivering the products or services by its partner financial institutions including any damage or loss caused to you due to such delay. No deliveries of the products/services shall be made outside the territorial boundaries of India.

10. Limitation of Liability

You agree and understand that the Company has a limited role in the entire process, and it is only acting as a facilitator between You and the financial institution. You agree and understand that in case of any issue with the product or services of the partner financial institution (or any person other than the Company), your rights will be governed as per the applicable laws and the loan documents executed/accepted by You. You further agree and undertake not to make the Company and/or Company’s group entities a party to any dispute and/or make any claim against the Company and/or Company’s group entities.  

Without prejudice to the generality of clause (a) above, in no event shall the Company and/or Company’s group entities, its subsidiaries, affiliates, directors & officers, employees, agents, partners and licensors be liable for any direct, indirect, consequential, incidental, special or punitive damages, including, but not limited to, damages for loss of profits or revenues, goodwill, business interruption, loss of business opportunities, loss of data or loss of other economic interests, whether in contract, negligence, tort or otherwise, arising from the use of or inability to avail the PhonePe Services.

11. Indemnity

You shall indemnify and hold the Company and its officers, directors, agents, affiliates, , subsidiaries, joint ventures, and employees, harmless from any and against any claims, causes of action, demands, recoveries, losses, damages, fines, penalties or other costs or expenses of any kind or nature, including reasonable attorneys’ fees, or arising out of or related to Your breach of the TOU, Your violation of any law or the rights of a third party, or Your use of Website.

12. Additional Terms and Conditions

Company reserves the right to make changes to the Website, related policies and agreements, this TOU and the Privacy Policy at any time as it deems fit and proper, including but not limited to comply with changes in law or regulation, correct inaccuracies, omissions, errors or ambiguities, reflect changes in the process flow, scope and nature of the services, company re-organization, market practice or customer requirements. Your continued use of the services constitutes acceptance of the changes and an agreement to be bound by Terms, as amended. If you do not agree to the changes, you may please discontinue your use of the services.

Company reserves the right to discontinue or suspend, temporarily or permanently, the services, by giving reasonable time period notice, on a best effort basis, unless it is merely to change certain features/contents of the Services and/or Website or maintain the security and integrity of the Services. You agree that the Company will not be liable to you in any manner whatsoever for any modification or discontinuance of the services.

You agree not to use the services for illegal purposes or for the transmission of material that is unlawful, harassing, libelous (untrue and damaging to others), invasive of another’s privacy, abusive, threatening, or obscene, or that infringes the rights of the other.

13. General

If any of these conditions are deemed invalid, void, or for any reason unenforceable, the parties agree that the court should endeavor to give effect to the parties intentions as reflected in the provision, and the unenforceable condition shall be deemed severable and shall not affect the validity and enforceability of any remaining condition. Headings are for reference purposes only and do not limit the scope or extent of such sections. This TOU and the relationship between you and Company will be governed by the laws of India. In case of any contradiction or conflict between the laws of India and other jurisdictions, the laws of India shall prevail. The Website is specifically for users in the territory of India. In case of any dispute, either judicial or quasi-judicial, the same will be subject to the laws of India, with the courts in Bengaluru having exclusive jurisdiction. The failure of Company to act with respect to a breach by you or others does not waive its right to act with respect to subsequent or similar breaches. This Agreement/TOU constitutes the entire agreement between you and Company and governs your use of the Website, superseding any prior agreements between you and Company with respect to the Website.