Terms of Use of PhonePe Wallet/eGV

Definition

“PhonePe Wallet”: A prepaid payment instrument issued by PhonePe as per the rules and procedures defined by RBI and shall refer to a Minimum details Prepaid Payment Instrument (“Small PPI”) or a Full KYC Prepaid Payment Instrument (“Full KYC PPI”) including a Full KYC Wallet Non Face-to-face Aadhaar OTP Based PPI (“Full KYC- Non F2F Wallet”), as applicable.

“Politically Exposed Persons (PEPs)”: are individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials.

“Merchant”: shall mean any establishment and/or entity who accepts the PhonePe wallet as a payment method for online or offline purchase of goods and/or services. Similarly, the term “Buyer” shall refer to the person who purchases any of the goods or services provided online or offline by the Merchants and pays for such goods/ services through the PhonePe Wallet.

“PhonePe – Single Sign On (P-SSO)” refers to the login service of PhonePe provided to You, which is used to access all services provided in PhonePe application using your secure and unique credentials.

Eligibility

By registering for PhonePe Wallet, You represent that you are –

• An Indian Resident having a valid PhonePe account.
• A natural or legal person above 18 years of age or older within the meaning of the Indian Contract Act 1872.
• You can enter into a legally binding agreement.
• You have the right, authority, and capability to enter into this Agreement based on all the requirements under the Agreement.
• You are not barred or otherwise legally prohibited from accessing or using services of PhonePe or PhonePe Entities under the laws of India.
• You represent that you are currently not a Politically Exposed Person (“PEP”) as defined by RBI.

You shall not impersonate any person or entity, or falsely state your age or affiliation with any person or entity. PhonePe shall reserve the right to terminate your contract to use PhonePe Wallet in case of any incorrect representation of the conditions mentioned herein.

You agree and undertake to immediately notify PhonePe in circumstances where your PEP status changes, or you become related to a PEP. You should promptly notify PhonePe in writing to ensure that appropriate steps are taken in accordance with applicable laws and PhonePe’s policy . You further understand that as a PEP you will be subject to additional customer due diligence requirements as determined by the relevant regulators. As a PEP you hereby agree to fully comply with all the aforesaid additional customer due diligence requirements as well as cooperate with PhonePe to complete all continuing compliance requirements applicable to a PEP as will be notified to you by PhonePe to ensure uninterrupted use of your PhonePe Wallet.

To declare your PEP status, kindly download, print and fill this form and upload it on the Help section here

Issuance of PhonePe Wallet might be subject to additional due diligence, which may include but not be limited to reviewing and validating the credentials provided by You as part of the PhonePe Wallet application, internally or using other business partners / service providers, sanctions check as notified by regulators, our risk management processes and PhonePe shall have the absolute discretion regarding issuance of the PhonePe Wallet to You. Hence, You shall not be entitled to become a PhonePe Wallet holder by merely sharing the required data.

Application and Issuance of PhonePe Wallet

• Financial institutions deploy KYC or “Know Your Customer” process to confirm the identity of their clients and determine the risk of such clients being involved in money laundering or terrorist funding. The RBI has mandated that banks and other financial institutions ask their clients for KYC. We may collect documents and information pertaining to You as part of Your application to avail PhonePe Wallet as a service and such collection and usage of information shall be subject to PhonePe’s Privacy Policy, PhonePe’s internal policies, regulatory directives and notifications, including but not limited to procedures defined by any regulators/ authorities.
• As part of application, onboarding, or update of Your PhonePe Wallet, you might also be required to agree to the terms and conditions of third party, whose services are used as part of your application. For example, You might be required to accept Unique Identification Authority of India’s (UIDAI) terms and conditions or any other authority whom You authorise to share your data/information with/by Us.
• You shall be responsible for the documents/information and declarations provided to PhonePe about Yourself, Your residential and tax status, information about PEP and other information including but not limited to Your KYC documents. PhonePe shall not be liable for incorrect documents/information and declarations. PhonePe reserves the right to refuse activation and the right to deactivate or take such other action on Your PhonePe Wallet, including to report such incident to Legal Enforcement Agencies (LEAs) and the regulator(s)/ authorities as per extant directives.
• We may review the data/information provided by You and undertake appropriate due-diligence, including risk management before issuing PhonePe Wallet as per the extant regulatory directives issued by RBI or any other regulator/ authority, such as RBI’s Know Your Customer Directions, 2016 (“KYC Directions”), Prevention of Money Laundering Act, 2002 (“PMLA”), Prevention of Money-Laundering (Maintenance of Records) Rules, 2005, RBI’s Master Directions on Prepaid Payment Instruments, 2021 and other directives that are notified by the regulator from time to time and applicable to PhonePe Wallet. We may also fetch data from other sources available in public or through our business partners or service providers which may pertain to You as part of due diligence and risk management.
• We may appoint associates or agents to collect Your KYC information/data as part of PhonePe Wallet application, upgrade or risk assessment.
• Once you complete the minimum KYC (self-declaration) process, your ‘minimum KYC’ account will be opened, and you will be eligible to use the Small PPI PhonePe Wallet. However, in order to receive full-fledged PhonePe Wallet experience, you must complete the ‘Full KYC’ process. Upgradation of minimum KYC account to the Full KYC account is optional and at your sole discretion. PhonePe, may in its sole discretion, accept or reject Your request for a Small PPI/ Full KYC PPI in line with the applicable laws and PhonePe policies, without assigning any reasons, and You shall not raise a dispute on the same.
• You must ensure that you open/ hold only one PhonePe Wallet at any point of time, and You understand that in case of any non-adherence to this requirement, PhonePe shall take any such action as We deem fit.

PhonePe Wallets

PhonePe issues Small PPI and Full KYC PPI to PhonePe account holders. This section refers to the different categories of PhonePe Wallets issued by Us in accordance with the regulatory directives issued by RBI under its Master Directions on Prepaid Payment Instruments, 2021 (“MD-PPIs, 2021”) and subsequent updates.

• Small PPI or Minimum-detail PPI (with no cash loading facility)
  Small PPI (with no cash loading facility) PhonePe Wallets issued under this category are governed by Paragraph 9.1 (ii) of MD-PPIs, 2021 with the features and limitations mentioned herein.
  1. In order to avail this PhonePe Wallet, You shall have an active mobile number issued by Indian telecom service providers which will be verified with OTP, You shall provide a self-declaration of your Name and unique identity/identification number of any ‘mandatory document’ or ‘Officially Valid Document’ (“OVD”) listed in the KYC Directions. PhonePe shall provide You list of acceptable documents shown as part of your application process.
  2. Your PhonePe Wallet is reloadable and issued in electronic form. Loading is permissible using Your Bank account and / or Credit Card permitted by the regulator from time to time and as per PhonePe’s internal policies. Cash load into such PhonePe Wallet is not allowed.
  3. Loading limits shall apply to Your PhonePe Wallet, with a Monthly limit of Rs, 10,000/- and an annual limit (calculated on the basis of a financial year) of Rs. 1,20,000/-. Further, Your PhonePe Wallet balance shall be limited to Rs. 10,000/- at any point in time (“Small PPI Limit”) and no funds will be allowed to be credited to Your PhonePe Wallet in case funds in Your wallet have reached the Small PPI Limit except in case of refunds on cancelled transactions, wherein such credit may increase the balance in the PhonePe Wallet to be higher than the limit of Rs. 10,000/-.
  4. You cannot use Your Small PPI PhonePe Wallet balance to transfer any funds or withdraw any cash.
  5. YYou can use the Small PPI PhonePe Wallet balance only for purchasing goods and services.
  6. PhonePe Wallet maybe one of the payment options available to You while making payment to a Merchant / Merchant platform and We take no responsibility for the products purchased or services availed using the PhonePe Wallet and any liability thereof is expressly disclaimed. User can pay directly from his/her PhonePe account linked bank account, if the order value exceeds the available amount in the PhonePe Wallet.
  7. PhonePe shall communicate the features of PhonePe Wallet at the time of wallet issuance by SMS/e-mail/link to terms and conditions or any other means.
  8. You shall use your P-SSO to login and access Your PhonePe Wallet. We may ask/provide you additional security measures in order to access Your PhonePe Account.
  9. PhonePe also allows you an option to fix a cap on transactions that You want to perform on PhonePe Wallet, and You can change it with an additional factor of authentication at any point in time.
  10. The features and limits mentioned herein are subject to PhonePe’s internal risk assessment and We may reduce load and spend limits, apply cooling period on Your PhonePe Wallet after fresh loading of funds and restrict spending on certain merchants, restrict You to access Your PhonePe Wallet or report Your account to Legal Enforcement Agencies (“LEA”) or other regulators/ authorities. You understand that We may or may not communicate the above action to You. This is part of our transactional risk management practice to keep Your PhonePe Wallets and ecosystem secure for our users and merchants.
  11. In case You had PhonePe Wallet prior to December 24, 2019 and it is existing in “Inactive” state, Your PhonePe Wallet will get migrated to this category of PhonePe Wallet upon activation of Your wallet account initiated by You and features and limits provided herein shall apply. This migration is expected to happen immediately at the time of activation.
  12. In case You opt to close Your PhonePe Wallet and Your PhonePe Wallet has a stored value, We shall return the funds back to the source account from where the funds were loaded, as part of Your PhonePe Wallet closure process.

• Full KYC PPI
  Full KYC PPI PhonePe Wallets issued under this category are governed by Paragraph 9.2 of MD-PPIs, 2021 with the features and limitations mentioned herein. As permitted by PhonePe, You may either choose to open a Small PPI or a Full KYC PPI with PhonePe. If you already have a Small PPI, at your discretion and as permitted by PhonePe, You may upgrade Your Small PPI PhonePe Wallet into Full KYC PPI PhonePe Wallet (“Full KYC Wallet”) by providing requisite documentation as per the process defined by PhonePe.

1. In order to avail this PhonePe Wallet, You shall have an active mobile number issued by Indian telecom service providers, and shall undergo KYC process as per the KYC Directions updated from time to time, and the process defined by PhonePe based on the regulatory directions.
2. The KYC requirements are defined by the regulator(s) and are updated from time to time and may involve fetching Your KYC data from various sources permitted by the regulator. In such a case, You shall authorize PhonePe to fetch that data and agree to the terms and conditions of Your KYC service provider and it’s data sharing terms. For example, We may enable You to share Your KYC documents with Us via the e-KYC process or Offline Aadhaar verification process of the UIDAI as part of the KYC process, and any other evolving and permissible source, subject to Us enabling such provisions for KYC.
3. You will be eligible to upgrade Your current Small PPI PhonePe Wallet to Full KYC wallet by undertaking the below process:
   • Aadhaar and PAN verification: Complete your Aadhaar and PAN verifications (“Aadhaar-PAN Verification”). Post completion of the Aadhaar-PAN Verification, You shall be required to provide Your additional personal details, as may be required.
   • Video Verification: As a second step to complete the full KYC process, you need to undergo a video verification, which involves a video call between You and a PhonePe representative. In this video verification call, You shall be required to share a few details and answer some questions.  During the video call, in case of any call drop / disconnection, a fresh video session will need to be initiated. Please ensure that You complete this video verification within 3 working days from completion of Your Aadhaar-PAN Verification. Any failure to do so, would require you to redo the KYC process, in line with the KYC Directions.
4. You understand and agree that You are authorizing PhonePe to collect/obtain/retrieve and verify/check your identity and demographic details (Know your customer i.e. KYC details) from UIDAI and/or National Securities Depository Limited (NSDL), basis the details shared by You with PhonePe for the purpose of authentication and for providing PhonePe Wallet services to you. For the same, you provide your consent to:
   • Share your details with UIDAI for Aadhaar authentication and with NSDL for PAN (Permanent Account Number) verification, through PhonePe or any permitted agency/ authority
   • Collection of your identity and demographic information from UIDAI by PhonePe
   • Submission of your authentication status/ identity / demographic information with any other Regulatory Authority [including Central KYC Record Registry] as per applicable laws.
   • Receipt of sms/email from UIDAI / any agency authorised by it and/or PhonePe on your registered number/email address

Pursuant to the same, You understand and confirm that

1. You will share/submit any/all documents and information, in such form and manner as may be required by PhonePe in relation to Your application, including but not limited to details as may be required for completion of the Aadhaar-PAN Verification requirement. Further in case of any changes in Your information, including Your registered Aadhaar/PAN details, mobile number etc., you will promptly update such changes, in writing, to PhonePe by reaching out to Our Customer Support team. If you plan to surrender or deactivate your mobile number, please reach out to us in advance and/or update Your new number with PhonePe. Do also reach out to us immediately in case You lose your mobile device, so We can take appropriate action on Your PhonePe account, PhonePe Wallet and/or eGV.
2. You confirm that You are providing Your consent voluntarily and at Your own discretion and opting to share Your Aadhaar information to PhonePe and UIDAI, for the purpose of establishing Your identity and authentication of the same under UIDAI guidelines or under any applicable law, as may be amended from time to time.
3. Your Aadhaar details will be used for KYC documentation, Aadhaar-PAN Verification, and due diligence, as permitted under applicable law for availing PhonePe Wallet services from PhonePe.
4. You shall participate in the Aadhaar-PAN Verification process and carry out necessary steps needed to complete the Aadhaar authentication process of UIDAI.
5. You understand and confirm that any of Your records/information, including record of the Aadhaar authentication process, may be used by PhonePe for evidentiary purposes, including for submission to any regulatory bodies/ judicial or quasi-judicial bodies / auditors/ LEA/ mediators or arbitrators, and you hereby provide Your consent to the same.
6. Where the details provided by You, including any KYC document or details retrieved by PhonePe through UIDAI / NSDL/ its authorised agencies, do not match or any discrepancies are observed, PhonePe shall not be obligated to provide or continue to provide services to You and may choose to reject Your application, or discontinue/ restrict Your account/ services or take such other action as it may deem fit, in its sole discretion.
7. If Your Aadhaar-PAN Verification process could not be completed due to any reasons, PhonePe shall not be held responsible towards the same in any manner whatsoever. PhonePe shall not be liable to provide the PhonePe Wallet services to you unless such Aadhaar-PAN Verification/ Full KYC process is completed to the satisfaction of PhonePe.
8. PhonePe does not take any responsibility or provide any guarantee whatsoever, even if advised otherwise by You or anyone on Your behalf, in respect of any loss, damage that may be incurred by you due to any reasons (including but not limited to technical, systematic or server errors/issues, or any other issue occurred while undertaking the Aadhaar-PAN Verification process).
9. All particulars, information, and details pertaining to You which shall be received by Us through You or on Your behalf including from UIDAI in relation to this Aadhaar-PAN Verification authentication process reflect the true, correct and up-to-date information of yourself in all respects (including Your current address) and that You have not withheld any material information that may be required by PhonePe / UIDAI / its authorised agencies for the purpose of performing Aadhaar authentication.
10. Providing Your KYC documents and information required as part of the KYC process, may not entitle You to avail a Full KYC PPI, since the data provided by You shall be validated and reviewed as per the KYC Directions and PhonePe policies before issuing Full KYC PPI to You. PhonePe Wallet under this category shall be issued only after successfully completing the KYC process as mentioned above.
11. You shall not record any part of the video call, and/or use it in any form whatsoever. You must not engage in any vulgar, abusive behaviour, etc., with PhonePe and/or its representatives, failing which, We may take appropriate action against You.
12. Your Full KYC PPI is reloadable and issued in electronic form. Loading is permissible using options as maybe made available by PhonePe, including Your Bank account and / or Credit Card and other instruments as permitted by the regulator from time to time and as per PhonePe’s internal policies. PhonePe does not support cash load into, or cash withdrawal from, Full KYC PPIs.
13. You will be able to load money in Full KYC PPI within the regulatory permissible limits or any limits applied on the basis of Our internal risk policies. The available balance in Your Full KYC Wallet shall however not exceed INR 2,00,000/- (Rupees Two Lakhs) at any given point of time. Money can be loaded into the Full KYC Wallet through UPI, or a debit/credit card. Also, refunds that might arise due to cancellations and returns of your transactions on PhonePe application or on Merchant Platforms done via PhonePe Wallet, shall be processed back into Your PhonePe Wallet itself.
14. Full KYC PPI can be used to purchase products and services online or offline on any Merchant platform. Full KYC PPI can be used by selecting it as the payment mode at the time of payment. PhonePe currently does not permit money transfer between Full KYC Wallets.
15. Full KYC PPI PhonePe Wallet is one of the payment options available to You while making payment to a Merchant / Merchant platform and We take no responsibility for the products purchased using the Full KYC PPI and any liability thereof is expressly disclaimed. User can also pay directly from his/her PhonePe account linked bank, if:
    • the order value exceeds the available amount in the Full KYC PPI; or
    • the User has exceeded his/her limit for purchases (if any) using the Full KYC Wallet.
16. You shall use your P-SSO to login and access Your Full KYC PPI. We may ask/provide you additional security measures in order to access Your PhonePe account.
17. PhonePe also allows you an option to fix a cap on transactions that You want to perform on Full KYC PPI and You can change it with an additional factor of authorization at any point in time.
18. You shall be careful while updating your bank accounts and adding beneficiaries, as PhonePe shall not be liable for any incorrect details submitted by You on PhonePe account / PhonePe Wallet.
19. The features and limits mentioned herein are subject to PhonePe’s internal risk assessment and We may reduce load and spend limits, apply cooling period on Your Full KYC PPI after fresh loading of funds and restrict spending on certain merchants, restrict Your access to Your Full KYC PPI or report Your account to LEAs or other regulators/ authorities. You understand that We may or may not communicate the above action to You. This is part of our transactional risk management practice to keep Your PhonePe Wallet and ecosystem secure for our users and Merchants.
20. You can close Your Full KYC PPI at any time by placing a request provided within Your PhonePe App or as per any other process specified by PhonePe. The outstanding balance (if any) at the time of closure shall be transferred ‘back to source’ (i.e. payment source from where the Full KYC PPI was loaded), and in case that is not possible due to any reason, customer needs to raise a ticket on the PhonePe App and follow the process outlined on the App. You hereby agree and understand that PhonePe shall be entitled to call for the relevant information/documents pertaining to Your bank account and/or ‘back to payment source’ instrument to which funds have to be transferred post closure of the Full KYC PPI, including any KYC documents.
21. You provide Your consent to PhonePe for recording and storing the video and audio of the entire Video KYC process, along with Your geolocation and such other details as we may collect during the KYC process. You also agree and understand that PhonePe may share such information with other PhonePe entities as per the Privacy Policy and to also ensure compliance with the requirements under the KYC Directions and PMLA.
22. You must attend the video call yourself only. You will be asked mandatory questions on the video call by the PhonePe representative, which must be answered by You in a truthful and correct manner, without any prompting from anyone.
23. You shall maintain a good lighting environment with minimum background noise/disturbances. PhonePe in its sole discretion may reject the KYC if it feels that the video call is not clear, is fraudulent, ambiguous, inconsistent, suspicious and/or is not satisfied with the same for any reasons whatsoever.
24. PhonePe may ask for additional information/documents and/or another video call, as may be required by it in its sole discretion.
25. Acceptance / rejection of KYC documents and/or KYC is at the discretion of PhonePe, subject to the verification process and information provided by You.

CENTRAL KYC (CKYC): In accordance with the applicable RBI guidelines and other applicable laws, PhonePe shall submit your KYC records with the CERSAI (Central Registry of Securitisation Asset Reconstruction and Security Interest of India) in the CKYC Registry (CKYCR), when you complete/ update your KYC with PhonePe. Once a CKYCR ID is generated from the registry, We will communicate the same to You via SMS or any other mode of communication as we deem fit. PhonePe shall also retrieve your existing KYC records from CKYCR for validation. Further, if the KYC details provided by You to PhonePe are updated from the records available with CERSAI, Your details with CERSAI shall stand updated with the details as provided by You to PhonePe.

STATUS: For checking the status of your Full KYC, log in to the PhonePe platform/application and open wallet page, if your VKYC is approved it will show the PhonePe Wallet as upgraded.

CHARGES: PhonePe does not charge Users for conducting any KYC.

Full KYC Wallet Non Face-to-face Aadhaar OTP Based (Full KYC- Non F2F Wallet)

Where You hold a Full KYC-Non F2F Wallet, You understand and agree that the usage of the Full KYC- Non F2F Wallet issued to You is based on and governed by the following terms:

1. You have provided consent for authentication through OTP for opening the Full KYC- Non F2F Wallet using Aadhaar OTP based e-KYC.
2. You confirm that no other account has been opened nor will be opened using OTP based eKYC by You or anyone else on Your behalf.
3. In case You are holding or in future open any other OTP-based eKYC account, PhonePe may prohibit any further top-ups of amount in the Full KYC- Non F2F Wallet provided by PhonePe, or take such other action as we deem fit.
4. In terms of the KYC Directions, an eKYC based account holder needs to complete the Full KYC/ customer identification process within 1 year of commencement of the eKYC based account. PhonePe may provide You with the option to complete Full KYC (via video KYC or such other permitted mode) within 1 year of issuance of Full KYC- Non F2F Wallet. If You fail to complete the Full KYC process within such timeframe, PhonePe shall take necessary actions, including stoppage of any further top ups in your PhonePe Wallet. Subject to regulatory requirements, you may be allowed to consume your existing balance in the Full KYC- Non F2F Wallet for debit transactions only.
5. In terms of the KYC Directions, the aggregate balance of all the deposit accounts opened on the basis of eKYC authentication shall not exceed Rs. 1,00,000 (Rupees One Lakh Only). Similarly the aggregate of all the credits in a financial year in all deposit accounts taken together shall not exceed Rs. 2,00,000/- (Rupees Two Lakhs Only). In case the balance exceeds the threshold, Your Full KYC- Non F2F Wallet shall cease to be operational, unless the customer due diligence/ KYC process or video KYC process is completed as per extant regulations.

Please note that the above e-KYC authentication process is in accordance with the KYC Directions as amended from time to time. In case of any further details or queries on the terms of use of PhonePe, You may reach out to us via https://support.phonepe.com

Wallet interoperability: Once you complete Your Full KYC successfully, you can create and link a handle in relation to Your Full KYC wallet, using which you can undertake wallet interoperable transactions on UPI rails, such as merchant payments, fund transfers and any other transactions as permitted by RBI. PhonePe may, at its discretion, also apply any restrictions/ prohibitions in relation to your use of such wallet, including imposing transaction limits/ cool off periods etc., as we deem fit, and/or as per our risk assessment. You can also find more details regarding wallet interoperability in the  FAQs published here.

Gift PPI

• Non-Reloadable Gift Instrument (“eGV”) issued by PhonePe under this category are governed by Paragraph 10.1 of MD-PPIs, 2021 with the features and limitations mentioned herein. As a PhonePe User, You may purchase/gift eGVs from the PhonePe App, or may receive an eGV as a gift. Alternatively, We may also gift You eGVs at Our sole discretion. For the purposes of these ‘Gift PPI terms’, ‘You’ will include the purchaser and/or the redeemer of the eGV, as the case maybe.

1. Purchase: eGVs can only be purchased in denominations upto Rs. 10,000/-. PhonePe may further cap the maximum amount of eGV, based on Our internal risk management program. You may purchase eGV using Debit Card, Credit Card or any other instrument permitted by RBI and provided and supported by PhonePe. eGVs cannot be purchased using PhonePe Wallet (including Full KYC Wallet) or another eGV balance. Usually eGVs are delivered instantly. But sometimes, the delivery can be delayed by up-to 24 hours. In case the eGV is not delivered within this timeframe, You are requested to report the issue to Us immediately for Us to resolve the same. The eGVs might be offered with a purchase limit or a minimum purchase value depending on Our internal policies. You also agree to provide such other information as maybe required by PhonePe for purchase of any eGV.
2. Limitation: eGVs, including any unused eGV balances, expire one year from the date of issuance. eGVs cannot be reloaded, resold, transferred for value or redeemed for cash. As of now, eGVs cannot be purchased using cash. Unused eGV balances on Your PhonePe account may not be transferred to another PhonePe account. No interest will be payable by PhonePe on any eGV or eGV balance.
3. Redemption: eGVs purchased by You can be claimed by another person who has the details or to whom You have gifted such eGV. If the redeemer is not registered with PhonePe, he/she shall be first required to do so, before claiming the eGV balance in the PhonePe account. Once claimed, eGV may only be redeemed toward transactions on eligible Merchants on PhonePe platform. Purchase amount is deducted from the User’s eGV balance. Any unused eGV balance will remain associated with the User’s PhonePe account and applied to purchases in order of earliest expiration date, in case of multiple eGVs contributing to the aggregate balance. If a purchase value exceeds the User’s eGV balance, the remaining amount must be paid with any of the other available instruments. Also, refunds that might arise due to cancellations and returns of your transactions on PhonePe application or on Merchant Platforms done via eGV, shall be processed back into eGV itself. PhonePe may further cap the maximum amount of eGV redemption, based on our internal risk management program if found to be risky or suspicious
4. You agree and understand that eGVs are a Pre-Paid Payment Instrument subjected to regulations by RBI, and PhonePe might be required to share KYC details of the purchaser/ redeemer of the eGV and/or any other information with relation to the purchase of the eGV and/or transaction or associated transactions on PhonePe account undertaken using the eGV, with RBI or such statutory authorities/ regulators. We may also contact the purchaser/redeemer of the eGV including You for any such information, and You agree to duly cooperate with PhonePe in this regard.
5. eGVs are issued to You and the eGV is shared with any other person, at Your discretion, and such other person shall be subject to the terms of the Agreement as well. PhonePe is not responsible if eGV is lost, stolen, destroyed or used without permission. PhonePe will have the right to take appropriate action, without notice, including closure of any customer accounts from which any fraud has been committed or suspected, and to take payment from alternative forms of payment if a fraudulently obtained eGV is redeemed and/or used to make purchases on PhonePe platform (where required). PhonePe risk management program shall cover both the purchases of eGVs and redemption on PhonePe platform. Transactions that are deemed suspicious by Our risk management program (including anti-fraud rules/policies) may be disallowed by PhonePe. PhonePe reserves the right to cancel fraudulently obtained / purchased eGVs and put restrictions on suspicious accounts as deemed appropriate by our risk management programs.
6. eGVs might also be issued to You as an incentive or reward as part of PhonePe Rewards Program and We reserve the sole right and discretion to award such rewards to You in form of eGV.

• Limit and limitations
  • The eGVs shall be valid for 1 year and is subject to a maximum limit of Rs.10,000 per eGV. You may request for revalidation of the eGVs, which request shall be handled as per our policy and evaluation.
  • PhonePe reserves the right to impose additional amount limits within the overall applicable limit.
  • PhonePe reserves the right to award offers and related benefits in the form of eGVs as per internal policy decided by PhonePe from time to time. In case any transaction is cancelled, the cashback/ reward given on the transaction (in eGV form) will continue to remain as eGV and non-withdrawable to your bank account. This can continue to be used on PhonePe platforms.
  • Refunded amount less of cashback will be credited back to the source of funds used while making payment.
  • eGVs (including eGVs issued as cashback) can be used for permitted transactions on PhonePe App and for making payments on PhonePe partner platforms/stores.
  • eGV cannot be withdrawn to any linked bank account or transferred to other customers.
  • You can earn up to maximum INR 9,999 of cashback as eGV per financial year (i.e. 1 April to 31 March) across all offers disbursed on PhonePe.
  • PhonePe reserves the right to take any outstanding balance of the eGV into its profit and loss account, at anytime three years after the expiry of the respective eGV(s).

General Terms and Conditions

• These general terms and conditions shall apply to the PhonePe Wallet and eGV in addition to the terms mentioned above.
• Your login credentials are personal to You and You should ensure Your login credentials are safe and secure. You are responsible for security of your PhonePe Wallet and eGV, and shall take all steps to keep the details secure including the devices that You may use to access Your PhonePe account. Further, You shall not disclose Your account access credentials to anyone in any form, whether verbally or in writing, and shall not record it in any other form. In case You divulge such details in error or due to negligence, You shall immediately report the activity to PhonePe. However, PhonePe shall not be liable for any unauthorized transaction performed by any third party with Your secure account access credentials.
• We may monitor Your transaction(s) for probable risky/fraudulent/ suspicious transactions. Basis Our continuous transaction monitoring, We may take any action as we deem fit, such as place a hold on transaction(s), block or reject such transaction(s), temporarily block Your PhonePe Wallet or eGV or account (or access thereto), and ask You for more information regarding You and Your funding source before releasing / reinstating Your account/transaction where applicable. You shall also note that Your account could also be temporarily or permanently blocked basis abuse/ misconduct against any employee, company, or incorrect declaration by You, and We shall not be liable for any loss caused to You due to this.
• You agree and understand that PhonePe, based on its internal policies, regulatory and statutory guidelines, may report information/ transactions to appropriate authorities in case of any suspicious or fraudulent transactions, and We shall not be made liable for any loss caused to You for such obligatory reporting by Us, even if any such transaction is found to be regular and lawful at a later stage.
• While executing any transaction, You must ensure the availability of sufficient funds on Your PhonePe Wallet / eGV or other sources of funds that You use to execute any transaction.
• You understand that the services offered by PhonePe on PhonePe application uses internet connection, service providers and partners to successfully execute Your transactions, and We shall not be responsible for any liability arising therefrom, including but not limited to any loss or interruption of the PhonePe Wallet/ eGV services or the unavailability of the PhonePe Wallet/ eGV services due to mobile or internet not supporting, non-responsiveness of Merchant websites or applications.
• You understand that the information that You share for availing PhonePe Wallet/ eGV services might be shared with third parties inter alia, to facilitate the provision of such services and in such case, data policies of service providers shall also apply to such transactions and You are required to update Yourself of their policies and You acknowledge that You understand that PhonePe would not have any control on data sharing and use in such case.
• You further agree and acknowledge that Your bank/financial institution may charge fee(s) or charge(s) against any transaction, and PhonePe shall not be liable to acknowledge or refund such fee(s)/ charges and the same shall be borne You in all circumstances, or as per the terms agreed between You and Your bank/ financial institution.
• Funds loaded into Your PhonePe Wallet or eGV and spent on PhonePe application or partner Merchants for services offered by them are conducted over the internet and involve multiple stakeholders including but not limited to Your Bank, service providers, internet services, telecom operator etc. You understand that transaction confirmations and acknowledgements may not always reflect service delivery due to the possibility of failures at multiple points. In such cases, PhonePe is not liable for any loss caused due to inefficiencies / process failures at other such stakeholders and PhonePe shall credit the funds or recover the funds from You in such cases and shall apply appropriate limits/restrictions on Your PhonePe Wallet / eGV or account accordingly at its own discretion, and can take appropriate legal actions to collect the amount due (if any), to the extent allowed by applicable law.
• You can view Your PhonePe Wallet and eGV transactions in Your PhonePe app, and can also review transactions for at least the past 6 (six) months.
• All categories of PhonePe Wallets and eGVs are non-transferable in nature, except the ones that are unclaimed, and no interest is payable on the outstanding PhonePe Wallet/ eGV balances.
• Your account is secured and any transaction that is processed on Your PhonePe Wallet / eGV shall be authorized by You explicitly or processed via RBI notified debit mandates authorised by You on Your PhonePe Wallet/ eGV, and permitted by PhonePe.
• While You can purchase multiple eGVs as permitted by PhonePe from time to time, any suspected violation of the Wallet ToUs and/or Agreement shall constitute grounds for suspension/ restriction of Your access to Your PhonePe Wallet / eGVs or PhonePe account.
• PhonePe Wallet balance displayed on the online Merchant platform during payments include any eGV that you have received as cashback(s) on PhonePe Platform.
• While, the continued availability of the PhonePe Wallet/ eGV shall be subject to the requirements under applicable law and MD-PPIs, 2021, PhonePe reserves the right to suspend/discontinue the PhonePe Wallet/ eGV or access thereto, at any time, for any cause, including but not limited to the following-
  • For any violation or suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of any Wallet ToUs and/or the Agreement;
  • any suspected discrepancy in Your particular(s), KYC documentation or information provided by You; or
  • to combat potential fraud, sabotage, wilful destruction, threat to national security or for any other force majeure event; or
  • PhonePe in its sole opinion and discretion believes that cessation/ suspension/ restriction of Your PhonePe Wallet/ eGV is necessary for any other legitimate purpose.
• You agree that, upon any closure or winding up of any Prepaid Payment Instrument as notified by the regulator or due to any other circumstances provided under law, the outstanding balance (if any) shall be handled as per any instruction by the regulator/ under law or as per PhonePe policy.

Refund and cancellation

• All payments made through PhonePe Wallet/eGV for mobile/ DTH recharge, bill pay, or any other payment processed by You on PhonePe platform or Merchant partners accepting PhonePe Wallet (including eGVs) as a payment option shall be final and PhonePe shall not be responsible for any error and omission by You or Merchant partners. Bill Pay and Recharge transactions cannot be refunded, returned or cancelled once initiated.
• If you erroneously processed a payment to an unintended Merchant or processed a payment for the wrong amount (for instance a typographical error at your end), Your only recourse will be to contact the Merchant directly to whom You have made the payment and ask them to refund the amount. PhonePe shall not be liable to handle such disputes, nor can We reimburse You or reverse a payment that You have erroneously made.
• In case We receive a refund for a transaction which You have processed earlier, We will refund the funds back to the source, including PhonePe Wallet/eGV, unless specified or directed by You otherwise.
• In case of any cancellations where payments were made using any eGV loaded through cashback offer, any refund of such amount shall continue to remain as eGV and is non-withdrawable to Your bank account. This can continue to be used on PhonePe platforms for eligible transactions.
• Further, in case of cancellation of a transaction, refunded amount less of cashback (credited in form of eGV) will be credited back to the source of funds used while making payment.

Fees and Charges

• PhonePe Wallet (including Full KYC Wallet) or eGVs issued by PhonePe are not subject to any membership fee. PhonePe does not charge You any fee for creating an account or opening a PhonePe Wallet, or use of PhonePe services, unless specified explicitly.
• A convenience fee may be charged for certain payment transactions You may make using your PhonePe Wallet, the details of which shall be published to you during such transaction. You shall be notified before any such charge is added to Your transaction.
• PhonePe may charge Users a PhonePe Wallet loading fee(s) based on the instrument of choice and the details of the charges shall be displayed to the Users upfront while loading their PhonePe Wallet. A convenience fee is charged for credit-card based loading of PhonePe Wallet ranging from 1.5% – 3% + GST. The exact charges will be shown on the application before You complete the loading.
• PhonePe reserves the right to change its fee(s) policy from time to time. We may at our sole discretion introduce new services and modify some or all the existing services offered and may introduce fees for the new/existing services offered or amend/introduce fees for existing services. Changes to the fee(s) policy shall automatically become effective immediately and will be notified via changes to these Wallet TOUs/ Agreement.

Operational Validity & Forfeiture

• Your PhonePe Wallet/ eGV shall be valid as per the regulatory directives issued by RBI from time to time and as permitted by PhonePe. Currently Your PhonePe Wallet is valid unless closed. However, eGVs (including unused eGV balances) issued shall have a minimum validity period of 12 (twelve) months from the date of issuance and PhonePe may extend the validity period for such tenures as PhonePe may in its discretion determine.
• You may also note that PhonePe reserves the right to terminate Your PhonePe Wallet in case of violation of any terms of the Agreement or any rule/policy issued by the RBI or Government of India or any other concerned body or any order/ directive issued by any LEA or other authority, and in such event, any balance in Your PhonePe Wallet shall be credited back to Your bank account linked to the PhonePe platform. In such an event, PhonePe might report any information/ records (including details relating to Your account, KYC, transaction etc.) to the concerned authorities/ regulators. We may also freeze Your PhonePe Wallet/ eGV balance, until given a clearance by the concerned body/authority.
• In the event that Your PhonePe Wallet / eGV is due for expiry on the grounds as set out herein, PhonePe shall caution You of such impending expiry at reasonable intervals during the 45 (forty-five) days period prior to the date of expiry by sending a communication in this regard via e-mail/phone/notification or any other method of communication which is permissible. In the event that there is an outstanding balance in Your PhonePe Wallet/eGV subsequent to the expiry, You may at any time subsequent to the expiry of the PhonePe Wallet/eGV make a request to PhonePe to initiate a refund of the outstanding PhonePe Wallet/eGV balance and the aforesaid balance will be transferred to a bank account that You had either linked to Your PhonePe Wallet/eGV previously or the bank account details You have provided to PhonePe at the time of raising the request for refund. However, eGVs cannot be refunded to bank account and shall be reinstated for further use at the sole discretion of PhonePe. PhonePe further reserves the right to move your PhonePe Wallet to Debit Only mode if You are involved in any suspicious transaction and/or any transaction in gross violation of the rules and regulations issued by the RBI governing the use of Pre Paid Payment Instruments including but not limited to rules and regulations under Prevention of Money Laundering Act, 2002 and any amendments thereto or in case of any discrepancy noted in Your information/ KYC. In such an event, PhonePe may report the matter to RBI/ appropriate authorities, and take appropriate account action, until the receipt of findings, and clear report from RBI/ authorities in this regard.
• In case Your PhonePe Wallet or eGV has no financial transaction within the last 12 months, Your PhonePe Wallet/ eGV shall be flagged as inactive and You can operate Your PhonePe Wallet/ eGV only after completing appropriate due-diligence process defined by PhonePe from time to time. Your PhonePe Wallet/ eGV balance shall be maintained securely with Us and any pending refunds will still be credited to Your PhonePe Wallet/ eGV and You shall continue to receive all communications from us, including promotional communications. However, You would not be able to use Your inactive PhonePe Wallet/ eGV for any transactions including loading of Your PhonePe Wallet, without undergoing such due-diligence.

Suspension/Discontinuation of services

• You can close Your PhonePe Wallet at any time by placing a request provided within Your PhonePe App or as per any other process specified by PhonePe. The outstanding balance (if any) at the time of closure shall be transferred ‘back to source’ (i.e. payment source from where the PhonePe Wallet was loaded), and in case that is not possible due to any reason, customer needs to raise a ticket on the PhonePe App and follow the process outlined on the App. You hereby agree and understand that PhonePe shall be entitled to call for the relevant information/documents pertaining to Your bank account and/or ‘back to payment source’ instrument to which funds have to be transferred post closure of the Full KYC PPI, including any KYC documents.
• You agree and acknowledge that there can be certain risk-based scenarios when Your PhonePe Wallet may not be immediately closed but suspended and then eventually closed.
• You agree and understand that PhonePe also reserves the right to take any action on your PhonePe account, PhonePe Wallet and/or eGV, including closure/ suspension of such account/ product/ services, in case of any breach of the Agreement and/or further to any of the rights retained under this Wallet TOUs.
• You further understand that once Your PhonePe Wallet is closed, We would not be able to reinstate Your PhonePe Wallet and may sometimes not allow You to create a new wallet as per regulatory directives or based on our internal policies.
• You also understand that We are also obligated to retain Your data and information even after discontinuation of Your PhonePe Wallet for record retention.

Unauthorized transactions and Grievance Redressal

• PhonePe shares transaction alerts in the form of SMS (or email, if needed) against debit to Your PhonePe Wallet/ eGV. In case You observe any transaction on Your account which is not processed with Your consent/ authorization, You should immediately report such transaction to Us via the emergency 24×7 contact number/email/ forms as made available to You by PhonePe under the Grievance Policy. Any delay in such notification, can result in higher risk to You and/or PhonePe.
• Once You report a transaction as unauthorized, We may also temporarily suspend Your PhonePe Wallet/eGV while we review Your claim. As We investigate the claim, We shall keep funds claimed under dispute, where available, and shall credit the same to Your PhonePe Wallet/eGV in case the investigation outcome is in Your favor.
• In case the unauthorized transaction is processed due to any contributory fraud / negligence / deficiency on the part of PhonePe, We will refund the funds to Your PhonePe Wallet / eGV.
• In cases where the loss is due to Your negligence, such as where You might have shared the payment credentials, You shall bear the entire loss until You report such unauthorised transaction to Us. You shall not be made liable for any further loss on Your PhonePe Wallet / eGV after You have reported the unauthorised transaction to Us.
• You shall note that in case of any third party breach which is not caused due to any deficiency at Your end or at Our end but lies somewhere else in the system, You shall report such unauthorized transaction within 3 (three) days from the date of receipt of transaction communication (excluding the date of receiving the communication from PhonePe), failing which Your liability on such transaction will be (a) transaction value or ₹ 10,000/- per transaction, whichever is lower, in case You report such transaction within four to seven days or (b) liability as defined by our Board approved policy in case You report such transaction beyond seven days.
• In case We are not able to complete our investigation within 90 (ninety) days, We shall refund the funds to Your PhonePe Wallet or eGV as per the RBI directives and Our policies.
• PhonePe communicates all terms and conditions governing Your PhonePe Wallet / eGVs through SMS/links/notification/any other mode of communication, details of charges and fees, expiry period of Your PhonePe Wallet/PPI, and nodal officer details at the time of issuing Your PhonePe Wallet/eGV and is also available for Your review at all times on the PhonePe platform.
• In case Your report any complaint / grievance, We would review Your concern and will try to resolve Your complaint / grievance within 48 (forty eight) hours, but not later than 30 (thirty) days from the date of receipt of Your complaint / grievance. You may refer to our Grievance Policy for further details.

Transaction Monitoring

• You are allowed to use Your PhonePe Wallet / eGV for permitted Merchants and permitted purposes within the overall transactional limit(s) applicable to Your PhonePe Wallet / eGV . However, in order to secure Your account and safeguard Your transactions, we may monitor Your transactions and account activity for identifying risks and We may decide to put in place limits/restrictions/suspension on Your PhonePe Wallet/eGV taking into account the risk perception that We may generate basis our monitoring and risk management practices.
• For the above, You understand and authorize Us to review Your PhonePe account, including but not limited to services offered on Your PhonePe mobile application.
• You also acknowledge that We may need to block/suspend/limit/restrict usage of Your PhonePe account for any anomalies that we may observe in Your PhonePe account/ PhonePe Wallet/ eGV and for any of the services provided in PhonePe application.

Prohibited use of PhonePe Wallet/eGV, user conduct and responsibilities

• You shall not impersonate any person or entity, falsely claim or otherwise misrepresent an affiliation with any person or entity, or access the accounts of others without permission, forge another person’s digital signature or perform any other fraudulent activity.
• You shall not use the PhonePe Wallet/ eGV to defraud PhonePe, our affiliates or other members or users, or engage in other unlawful activities (including without limitation dealing in products or services prohibited by law).
• You shall not use fraudulent funds to load money into Your PhonePe Wallet/ eGV and shall not purchase anything (products or services) using fraudulent funds. You shall not use the PhonePe Wallet/ eGV for money laundering, tax evasion or any other illegal/ suspicious activities.
• You shall not use the PhonePe Wallet/eGV balances in a manner that may result in complaints, disputes, imposition of fines, penalties, charges, or any other liability to PhonePe or loss to other persons.
• You shall apply appropriate due-diligence while transacting using Your PhonePe Wallet/eGV as in case any amount is transferred erroneously by You to any Merchant or any other person, PhonePe shall not be liable to refund such amount to You under any circumstances.
• Any web-link on the website/App, to a third-party site, is not an endorsement of that web-link. By using or browsing any such other web-link, you shall be subject to the terms and conditions in each such web-link and You should review such terms and conditions before using such website/application.
• PhonePe shall send all customer communications by SMS/ email/ notification or any other communication mode, and they shall be deemed to have been received by You after they have been submitted for delivery to the SMS/email service providers. You are required to review all such communication and report back to Us in case of any concern or query.
• You agree to receive all transactional and promotional messages from PhonePe/ Merchants. However, in case You do not want to receive promotional messages, You can opt-out from receiving such messages by expressing Your consent on the opt-out option provided as part of such emails or via any other medium made available to You by PhonePe/Merchant.
• You shall use the PhonePe Wallet and/or eGV in good faith and in compliance with all applicable laws and regulations and be solely responsible for payment of any taxes, duties or other governmental levies or any financial charges that may be imposed on any products or services purchased or supplied by a Merchant or otherwise arising from transactions.
• You shall ensure that the PhonePe Wallet/ eGV is not used for transactions in foreign currency. PhonePe Wallet/ eGV is issued and shall be valid only in India and shall be used for Merchants located in India only.
• You agree and understand that when you acquire goods or any other services from a Merchant platform through PhonePe services, we are not a party to the contract between You and the Merchant. We do not endorse any advertiser or Merchant linked to its website or app. Furthermore, we are under no obligation to monitor the Merchant’s service used by you; the Merchant alone will be responsible for all obligations under the contract including (without limitation) warranties or guarantees. Any dispute with or complaint against any Merchant must be directly resolved by the User with the Merchant, as per the terms applicable between You and the Merchant. It is clarified that We shall not be responsible or liable for any deficiency in goods and/or services purchased from Merchant, using PhonePe services. You are instructed to satisfy yourself regarding the quality, quantity and fitness of any good and/or service before purchasing the same.

Communication

• PhonePe may communicate with You on the contact information that You may have provided to Us during the course of Your engagement, including but not limited to signup, transacting or availing any third party products or services on or through the PhonePe platform.
• We will send you communication alerts via emails or SMS or push notifications or via any other technology. You also agree that there can be disruption in communications due to factors that are not under Our control, including but not limited to Your phone being switched off, incorrect email address, network interruptions. You agree not to hold PhonePe liable for non-delivery of any alert or any loss suffered by You due to delay, distortion or failure of communication.
• You further acknowledge that You are responsible for the contact details shared with Us and shall immediately update Us on any change of Your contact details. You authorise Us to contact You and communicate with You for any PhonePe service or offer(s). We may use third party service providers to send alerts or to communicate with You. You authorise PhonePe and PhonePe entities to override the DND settings to reach out to you over calls, SMS, emails and any other mode of communication.

Disputes

• Any disputes against Your PhonePe Wallet/ eGV usage and operation shall be notified to Us within 30 days, beyond which, We shall not be held liable for any such claim/event. However, when a dispute is received from You, We shall identify Your dispute by a unique tracking reference and acknowledge the same.
• Any disputes not resolved amicably, shall be referred for resolution as per the governing law and jurisdiction section below.

Indemnification & Limitation of Liability

• In no event will PhonePe be liable for any indirect, consequential, incidental, special or punitive damages, including without limitation damages for loss of profits or revenues, 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 use the PhonePe Wallet or eGV, however caused and whether arising in contract, tort, negligence, warranty or otherwise. The liability, if any, shall in no event exceed the amount paid by You for using the PhonePe Wallet or eGVs giving rise to the cause of action, or Rupees One Hundred (Rs. 100), whichever is lesser.

Amendment to the Wallet ToUs

• These Wallet ToUs govern our mutual rights, responsibilities and obligations and is subject to change as required, including but not limited to notifications by regulators, enforcement agencies, changes in law of land or PhonePe’s internal policies and procedures.
• These Wallet ToUs may be modified to reflect our current practices, procedures, product features and other notified changes by regulators and changes in law. We shall update the Wallet ToUs accordingly and You are required to review the terms while using Your PhonePe Wallet/eGV. These Wallet ToUs and Agreement shall be deemed to be accepted by You in case of Your continuing usage and operation of PhonePe platform.
• Your PhonePe Wallet/eGVs are issued basis permissible regulatory directives and You understand and acknowledge that any change in such directives may impact Your PhonePe Wallet/eGV’s issuance, operation and use, including suspension/termination, which is solely defined by such directions and may not reflect in these Wallet ToUs.

Intellectual Property Rights

• Intellectual property rights for the purpose of this Wallet ToUs shall always mean and include copyrights whether registered or not, patents including rights of filing patents, trademarks, trade names, trade dresses, house marks, collective marks, associate marks and the right to register them, designs both industrial and layout, geographical indicators, moral rights, broadcasting rights, displaying rights, distribution rights, selling rights, abridged rights, translating rights, reproducing rights, performing rights, communicating rights, adaptation rights, circulating rights, protected rights, joint rights, reciprocating rights, infringement rights. All those intellectual property rights arising as a result of domain names, internet or any other right available under applicable law shall vest in the domain of PhonePe or PhonePe entities as the owner of such domain name. The Parties hereto agree and confirm that no part of any intellectual property rights mentioned hereinabove is transferred in the name of the User and any intellectual property rights arising as a result of the operation of the PhonePe Wallet or eGV or this Agreement shall also be in the absolute ownership, possession and control of Us or Our licensors, as the case may be.
• All material on the PhonePe platform, including images, illustrations, audio clips, and video clips, are protected by copyrights, trademarks, and other intellectual property rights of PhonePe, PhonePe entities or business partners. Material on the PhonePe platform is solely for Your personal, non-commercial use. You must not copy, reproduce, republish, upload, post, transmit or distribute such material in any way, including by email or other electronic means and whether directly or indirectly and You must not assist any other person to do so. Without the prior written consent of the owner, modification of the materials, use of the materials on any other platform or networked computer environment or use of the materials for any purpose other than personal, non-commercial use is a violation of the copyrights, trademarks and other proprietary rights, and is prohibited.

Governing law / Jurisdictions

• This Agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with the Agreement and this Wallet TOUs, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India.
• If any dispute or difference of any kind whatsoever shall arise between the parties in connection with or arising out of or in connection with Your use of the PhonePe Wallet or the eGV, You and PhonePe’s designated employee or representative shall promptly and in good faith negotiate with a view to arriving at an amicable resolution and settlement of the dispute or difference.
• The existence of any dispute or difference or the initiation shall not postpone or delay the performance by the parties of their respective obligations under this Agreement or under law. Notwithstanding anything contained herein, the parties shall have a right to institute legal proceedings to prevent any continuing breach and to seek an injunctive or any other specific relief.
• Subject to and without prejudice to the amicable settlement, the courts in Bengaluru, Karnataka shall have exclusive jurisdiction to try and adjudicate all matters arising in connection with Your use of the PhonePe Wallet or eGVs or other matters covered herein.

General Provisions

• PhonePe shall have the right to assign this Agreement (including all of Our rights, titles, benefits, interests, and obligations and duties in this Agreement) or any part thereof to any of its affiliates and to any successor in interest. PhonePe may delegate certain PhonePe rights and responsibilities under this Agreement to independent contractors or other third parties. You may not assign, in whole or part, this Agreement to any person or entity without Our prior written consent, which may be withheld at our sole discretion.
• A “Force Majeure Event” shall mean any event that is beyond the reasonable control of PhonePe and shall include but not limited to war, riots, fire, flood, acts of God, explosion, strikes, lockouts, slowdowns, prolonged shortage of energy supplies, pandemic, computer hacking, unauthorized access to computer data and storage devices, computer crashes, acts of State or governmental action prohibiting or impeding PhonePe/ PhonePe entities from performing its respective obligations under this Agreement.

Disclaimers

• If there is any conflict between the English version and another language version of this Agreement, the English version shall prevail.
• Any failure by PhonePe to exercise any of our rights under this Agreement shall not constitute a waiver of such right or a waiver with respect to subsequent or similar breach. A waiver shall be effective only if made in writing.
• If any provision of this Agreement is held to be invalid or otherwise unenforceable, then that provision shall be deleted/ modified to that limited extent, and the remaining provisions shall remain valid and enforceable.
• Headings are for convenience purposes only and in no way define, limit, construe or describe the scope or extent of such section.
• PhonePe, its entities, business partners and third party partners make no warranty, express or implied regarding the quality of PhonePe services including but not limited to whether: i) the services will meet Your requirements; ii) the services will be uninterrupted, timely or error free; or iii) any products, information or material obtained by You in connection with the services will meet Your requirements.
• If You are unable to use the PhonePe Wallet or eGV as a result of improper operation of the systems due to any of the following reasons, You agree You will not hold PhonePe and/or its affiliates liable for:
  • system suspension which has been announced by PhonePe in advance through any mode of communication;
  • failure in data transmission due to breakdown in the telecommunications equipment or systems;
  • failure in system operations due to breakdown resulting from typhoon, earthquake, tsunami, flood, electricity blackout, war, terrorist attack, and other Force Majeure Events which are beyond Our reasonable control; or
  • interruption or delay in services due to hacking, website upgrade, directions from banks/ authorities/ regulators, and other reasons that are beyond control of PhonePe.
• Except as expressly provided herein and to the full extent permitted by law, the services for the PhonePe Wallet or eGV 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 services and other information provided by PhonePe or generally available. We do not authorise anyone to make any warranty on Our behalf and You should not rely on any such statement.
• If You have a dispute with other parties, you release PhonePe (and its affiliates and officers, directors, agents, service providers, and employees thereof) from claims, demands and damages (actual and consequential) of every kind and nature, known and unknown, arising out of or in any way connected with such disputes.
• You agree that all risks arising from online transactions will be borne by You and In the event of any dispute, PhonePe records shall be binding as the conclusive evidence of the transactions carried out through use of PhonePe Wallet or eGV.