This document is an electronic record in terms of Information Technology Act, 2000, amendments thereof from time to time and the rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.
Please read the terms and conditions carefully before making a payment using Your Debit/Credit Card for availing any products or services (“PhonePe Services”) on PhonePe Platform(s). These terms and conditions, (herein referred as “Debit/Credit Card Payments” or “DCCP”) is a legal contract (“Agreement”) between You and PhonePe Private Limited (“PhonePe”/ “We”/ ”Us” / “Our”) having its registered office at Office-2, Floor 5, Wing A, Block A, Salarpuria Softzone, Bellandur Village, Varthur Hobli, Outer Ring Road, Bangalore South, Bangalore, Karnataka, India, 560103. You agree and acknowledge that you have read the terms and conditions set forth below. If you do not agree to these terms and conditions or do not wish to be bound by these terms and conditions, you may not use the Services and/or immediately terminate the Services.
We may amend the terms and conditions at any time by posting an updated version at PhonePe website(s) and PhonePe App(s). The updated version of the Terms of Service shall take effect immediately upon posting. It is Your responsibility to review these Terms of Use periodically for updates / changes or while using DCCP. Your continued use of DCCP on PhonePe Platforms following the posting of changes will mean that You accept and agree to the revisions including additional Terms or removal of portions of these Terms, modifications etc. As long as You comply with these Terms of Use, We grant You a personal, non-exclusive, non-transferable, limited privilege to avail the Services.
By proceeding to use the DCCP on PhonePe Platform, You (“User”/ “You”/ “Your”) signify your consent to be bound by the General PhonePe Terms and Conditions(“General ToU”) and PhonePe“Privacy Policy”. By use of PhonePe Application, you shall be contracting with PhonePe and these Terms and Conditions referenced herein will constitute Your binding obligations with PhonePe.
These terms and conditions regulate the payments under the Payment Card Networks (AMERICAN EXPRESS, DINERS CLUB,MASTERCARD,RUPAY, MAESTRO, VISA or any other Payment Card Network that might be offered or used to make Payments on PhonePe Platform).
PhonePe facilitates Debit/Credit Card Payment facilitation services for You to make payments for products and services on PhonePe App or to PhonePe merchants/sellers. These transactions are between the merchants/billers and You and We are only acting as an intermediary. We facilitate the collection of payments from you and facilitate the settlement of such payments to the respective merchant/biller. In order to do so, we have entered into agreements with various Banks, Payment System Providers, as defined under the Payment and Settlement Systems Act, 2007, Card Associations and other payment processing system providers, to enable use of internet payment gateways provided by them in order to effect payments between you and the merchants/billers and provide clearing, payment and settlement services with respect to your transaction.
Payment instructions provided by You are authenticated, authorized and processed by the Card Associations and your card issuing bank/ financial institution through the Payment System Provider’s payment gateway and PhonePe does not control, intervene or have any role in such authentication/ authorization.
“Card Payment Network Rules” refer to the written rules, regulations, releases, guidelines, processes, interpretations and other requirements (whether contractual or otherwise) imposed and adopted by the Card Payment Networks. These Card Payment Networks have infrastructure and processes to enable transaction authorisation. The Card Payment Networks require you to comply with all applicable guidelines, rules, and regulations formulated by them.
You consent and agree to comply with the rules, guidelines, directions, instructions, requests, etc. made by the Payment System Providers and Card Associations from time to time. You further acknowledge that the Payment System Providers, Card Associations and your issuing bank / financial institution may also put limitations and restrictions on You Debit/Credit Cards basis their own discretion and PhonePe might not have visibility of such controls/limits and hence is no circumstances, PhonePe can assure successful transaction processing and hence shall not be liable for any direct, indirect or consequential losses that You may incur due to transaction failure.
PhonePe shall monitor Your transactions and to safeguard Your account and may reject certain transactions basis certain internal risk parameters and may report certain transactions to regulators or legal enforcement agencies and may temporarily suspend Your PhonePe account in case such transactions are perceived to be unusual or are high risk transactions.
Card Tokenisation: In order to facilitate smooth and secure transaction processing, PhonePe provides You an option to tokenise Your Card so that its available for your Card payments. By choosing to tokenise your Card, you provide your express consent for PhonePe to facilitate tokenisation of your Card through token service providers such as authorised card networks or card issuers. You authorise PhonePe to transmit your data to the token service providers for the purpose of generating the token for your Card and to use it for the processing of Card transactions. You acknowledge that PhonePe does not store your actual card data except such data as permitted under applicable laws including applicable RBI regulations, and it will use the Card token for processing of your Card transactions. You can manage your tokenized Cards, including deregistering them on the PhonePe App.
You may be charged a fee, charges or any other processing fee(s) by Your card issuer bank / financial institution for making payment to or on PhonePe Platform. You understand that PhonePe does not have any control over such charges or fee(s) and takes on liability of such charges. You are required to check for such charges or fee(s) with Your card issuing bank / financial institution.
Any refund/reversals initiated by the merchants/billers or PhonePe in case of non-fulfilment or return of orders will be refunded back to the source account or might be credited to Your PhonePe Wallet or eGVs or to any other permitted financial instrument with Your consent.
If you have opted for ‘subscriptions’ or recurring payment mandate, then you consent that the relevant amount will be charged to such card as per the mandate authorised by You. You agree that PhonePe, PhonePe Group, PhonePe affiliates or such merchants/billers shall continue to charge the relevant amount to Your card until you terminate such instruction.
As part of this continual innovation and improvement, we sometimes may add or remove features and functionalities, increase, or decrease limits to our PhonePe Services, start offering new services or stop offering old ones on PhonePe Platforms. Such offering can also be due to discontinuation of any service or offering on PhonePe Platform by third party service providers or business partners.
Except as expressly provided herein and to the full extent permitted by law, the PhonePe Services are provided “as is”, “as available” and “with all faults”. All such warranties, representations, conditions, undertakings and terms, whether express or implied, are hereby excluded. It is Your responsibility to evaluate the accuracy, completeness and usefulness of the PhonePe Services and other information provided by PhonePe or generally available. We do not authorize anyone to make any warranty on our behalf and You should not rely on any such statement.
RUPAY CREDIT CARD VIA UPI
We may enable You to make payment(s) using Your RuPay Credit Card via UPI on select merchants, for such card issuers that enable such payment(s). In order to enable payments via UPI on Your RuPay Credit Card, you would be required to link Your RuPay Credit Card with UPI on PhonePe App and set an M-PIN. It is clarified that You would only be able to link such RuPay Credit Card via UPI which is linked with Your mobile number registered on PhonePe App.
In order to generate the M-PIN, You would be required to enter the expiry date and the last six (6) digits of Your RuPay Credit Card. We will fetch RuPay Credit Card details that are linked to Your mobile number and You will have the option of linking such RuPay Credit Card with UPI. Once the M-PIN has been generated, You shall be able to authorize transaction(s) using the M-PIN and would not be required to enter details of Your RuPay Credit Card along with the OTP.
Any amount that is paid to the RuPay Credit Card account linked with UPI using the VPA shall be a payment towards the credit card bill. Additionally, in case any refunds of forward payment(s) authorized via the RuPay Credit Card using UPI is received, the same shall get accrued/adjusted in the credit account. Your RuPay Credit Card can be used via UPI to enable payments to enabled merchants only and cannot be used to make any other payment(s) (including, but not limited to, transfers to individuals, bank account transfer)/cash withdrawal.
While transacting using RuPay Credit Card via UPI, transaction limits as applicable for UPI transactions shall apply. Additionally, any limits that are imposed by the Issuer shall take precedence over such limit (if the limit imposed by the Issuer are lower than the transaction limits applicable for UPI transactions). You would also have the option of checking ‘available/card limit balance’ in Your linked RuPay Credit Card. You understand that under this facility, We shall display the ‘available/card limit balance’ as provided by NPCI. We shall not be liable for any failure or delay in providing such balance details nor shall We be liable for any error or inaccuracy of such information.
Any disputes with respect to the transaction(s) authorized using UPI on Your RuPay Credit Card shall be dealt with as per the process provided in the section Disputes and Grievance under the Terms of Use of PhonePe UPI (available at: https://www.phonepe.com/terms-conditions/upi/) and any other process as may be prescribed by NPCI (from time to time) with respect to UPI transactions. Any refunds/reversals shall be as per timelines applicable to UPI transaction(s).
RuPay Credit Card via UPI – Equated Monthly Installments (“EMI(s)”)
If You have already linked Your RuPay Credit Card to PhonePe UPI, and You make a payment using the same, You maybe provided an option to convert Your transaction amount (either partially or entirely) to EMI, and the same shall be governed under these terms and conditions read with the General TOU and the Privacy Policy captured above.
It is important to note that (a) this option shall be made available to You only where the card issuing bank provides this facility (There may be certain issuer bank(s) that do not provide this facility); (b) the issuer bank for Your RuPay Credit Card may prescribe limits (minimum and maximum) for a transaction to be eligible to be converted into an EMI; (c) There may be additional eligibility criteria (including, but not limited to, eligibility in the product/service ; and (d) You shall be bound by any terms and conditions that may be prescribed by the issuer bank in relation to Your RuPay Credit Card and such facility.
Upon successful completion of such a transaction using Your RuPay Credit Card (via PhonePe UPI on PhonePe Platform), which is eligible for conversion to EMI, You shall be able to view a call to action (“CTA”) button to convert the transaction amount to EMI. Based on Your eligibility for EMI (as provided and verified by the issuer bank associated with Your RuPay Credit Card), PhonePe will fetch and display eligible EMI plans (which shall also consist of the duration of the EMI, interest rate(s), processing fee (charged by the issuer bank) from the issuer bank ‘as is’, and display the applicable convenience fee / platform fee charged by PhonePe (as may be applicable). An illustration has been provided below for Your understanding:
**Illustration:
| EMI Plans for a completed transaction via RuPay Credit Card of INR 15,000* | ||
| Duration and Interest | EMI amount per month | Total re-payment amount |
| 6 months (14% p.a.) | INR 2,604 | INR 15,618 |
| 9 months (14 % p.a.) | INR 1,766 | INR 15,889 |
| 12 months (14% p.a.) | INR 1,347 | INR 16,162 |
*This excludes the processing fee charged by the issuer bank (as the case may be) and convenience fee / platform fee charged by PhonePe (as may be applicable).
**The figures are only for illustrative purposes and have been rounded off.
On clicking on the EMI plan, You shall be able to view the breakdown of (i) total monthly EMI, (ii) interest rate charged by the issuer bank associated with the relevant RuPay Credit Card, against the time period for the EMI, (iii) total amount to be paid, (iv) other charges (including processing fees levied by the bank, a platform fee charged by PhonePe (as may be applicable)) and (v) payment schedule.
You understand that Your eligibility to the EMI plan(s) shall be provided and verified by the issuer bank in the backend, and PhonePe is merely fetching and displaying the eligible EMI plans to You as is. Before selecting/opting for any EMI plan, You should ensure that You go through the EMI plans and associated terms and conditions carefully. PhonePe shall have no liability with respect to the same.
On selection of the chosen EMI plan, You shall be required to enter Your UPI PIN (M-PIN) linked to Your RuPay Credit Card, in order to authorize and convert Your transaction amount to EMI. Thereafter relevant re-payment amount of Your RuPay Credit Card shall be blocked by the issuer bank. Your RuPay Credit Card limit gets adjusted as and when the EMI payments are made by You.
The confirmation of the successful conversion of the transaction amount to EMI would be provided by Your issuer bank associated with Your RuPay Credit Card via message on Your registered mobile number. Upon successful conversion of Your transaction to EMI plan, You shall be able to view the details under Your history section of Your profile on the PhonePe Platform.
You further undertake and agree to the following:
(i) You shall be bound to make the regular payment(s) to the bill(s) generated by Your issuer bank of Your RuPay Credit Card. Further, You agree and understand that the issuer bank may take any relevant action(s) on You in case You fail to make such payments, and that You are and shall be bound by the terms and conditions of the issuer bank in relation to Your RuPay Credit Card and any EMI facility You may avail thereon.
(ii) Once you choose an EMI plan, there is a contractual agreement between You and the issuer bank of Your RuPay Credit Card as per the applicable terms and conditions. PhonePe is only facilitating the option for conversion of a particular transaction amount to EMI. Further, PhonePe shall have no role for any cancellation, pre-payment or any foreclosure of EMI request raised by You with the relevant issuer bank of Your RuPay Credit Card, and You must reach out to Your bank for the same. You further confirm that you have read and understood the terms and conditions pertaining to the conversion of Your transaction amount into an EMI, as well as your EMI plan, as laid down by Your issuer bank in relation to Your RuPay Credit Card.
(iii) All payments of Your EMI plan shall be made by You to Your Issuer bank, as per the relevant frequency of the EMI plan selected by You. The issuer bank has the right to close the EMI facility in the event of default in payment of EMI by You, for a consecutive period of time, as per the banks policy/ terms.
(iv) If you wish you cancel or pre-pay Your EMI (if allowed by the issuer bank associated with Your RuPay Credit Card), You need to get in touch with Your issuer bank for cancelling, pre-paying and/or foreclosing the EMI, and the relevant issuer bank(s) may charge a fee in relation to the same. In case the underlying transaction (where the amount was converted to EMI) itself is subsequently cancelled due to any reason, and You are entitled to refund from the merchant, You should immediately contact Your issuer bank and place a request for EMI cancellation. The same shall be handled by the issuer bank as per the applicable terms.
(v) PhonePe shall not be responsible or liable for any action of the issuer bank in relation to Your RuPay Credit Card and/or EMI plan and/or any charges levied by the issuer bank in relation to the same, and the same shall be solely between You and Your issuer bank.
(vi) You hereby consent to and authorize PhonePe to share Your information, which is essential in relation to Your request for the EMI facility, with the issuer bank.
DISPUTES
If You face any issue in converting Your eligible transaction amount to EMI, You can raise a ticket with PhonePe, as per the Disputes and Grievance section under the Terms of Use of PhonePe UPI. In case of any dispute(s), issues or concerns with respect to Your EMI payment(s), cancellation, pre-payment, or any other issues with Your issuer bank associated with Your RuPay Credit Card, You need to directly get in touch with Your issuer bank associated with Your RuPay Credit Card.