1. The ownership, operation, management, and control of the website Kaaspay.in ("Website") and the mobile application, "Kaaspay" ("Application"), are vested in FinLeaf Fintech India Private Limited ("Kaaspay"). Kaaspay is a company incorporated under the laws of India, with its registered office at New No.3, Old No.2A, Padma Complex 5A, C S Rathnasabapathy Street, NSR Road, Sai Baba Colony, Coimbatore, Tamil Nadu-641 038, operating under the brand name "Kaaspay." In these Terms of Service (as defined below), the term "User" refers to the individual or entity utilizing the Website/Application and/or availing any Service (as defined below) from Kaaspay. It is emphasized that for companies, partnerships, trusts, or other legal entities utilizing or accessing the Services, "User" encompasses such entities.
2. Kaaspay provides the Website, the Application, and any Services subject to the User's acceptance of all terms, conditions, policies, and notices outlined herein. By availing a Service from Kaaspay or using the Website or Application, the User explicitly agrees to be bound by these terms and conditions ("Terms of Service"). Additionally, the use of the Application is subject to the terms of the Play Store / App Store, as specified by the respective provider.
3. Consequently, all rights, benefits, liabilities, and obligations under these Terms of Service accrue to the benefit of Kaaspay concerning the User's use of the Website and/or the Application.
4. Kaaspay facilitates Users to make online payments for rent, utilities, GST, vendor payments, or other business transactions through the Website and/or the Application ("Services"). Users acknowledge full responsibility for platform transactions, including the nature of the transaction, beneficiary details, and associated tax implications. Kaaspay and its payment partners serve as facilitators of authorized payments and bear no responsibility or liability for unauthorized transactions. Kaaspay reserves the right to hold/suspend/refund and report suspicious transactions at its discretion. Furthermore, Kaaspay may alter, limit, or impose additional restrictions on User transactions on the Application, as deemed fit in its sole discretion. Kaaspay assumes that the User has authorized all transactions by providing the relevant payment instrument and completing necessary verifications under Applicable Laws.
5. These Terms of Service, in conjunction with Kaaspay's privacy policy available at Privacy Policy, cancellation and refund policy, and chargeback policy, as detailed below or in another policy in force on the Website and the Application, govern the relationship between the User and Kaaspay. Users are urged to carefully read and understand these Terms of Service before registering, accessing, browsing, downloading, or using the Website and/or the Application and before contributing to the Application in any way. Kaaspay reserves the right to amend these Terms of Service at any time without prior notice. It is the User's responsibility to read the Terms of Service before using the Services. The User agrees to be bound by any revisions, which may be notified upon logging into their User Account. The User must stay informed of terms and conditions updates periodically. By continuing to access the Application or use the Services after the effective date of revised Terms of Service, the User agrees to have read, understood, and be bound by the revised terms. If, at any point, the User does not wish to be bound by these Terms of Service or disagrees with them, the User must refrain from using the Application and immediately terminate their use of the Services or Application.
6. The User bears exclusive responsibility for comprehending and adhering to all relevant laws in their specific jurisdiction. This includes, but is not limited to, adhering to the provisions of the RBI Guidelines on Regulation of Payment Aggregators and Payment Gateways, the Payment and Settlement Systems Act, 2007, the Prevention of Money Laundering Act, 2002, the Income Tax Act, 1961, and the Know Your Customer (KYC) / Anti-Money Laundering (AML) / Combating Financing of Terrorism (CFT) guidelines issued by the Department of Regulation, RBI (referred to as the "KYC GUIDELINES"). These regulations apply to the User in connection with the business and utilization of Kaaspay.
7. The headings in this Terms of Service are included for convenience only and do not limit or otherwise affect the provisions of these Terms of Service.
8. PLEASE NOTE THAT Kaaspay DOES NOT VERIFY THE AUTHENTICITY OF ANY TRANSACTION OR PAYEE, AND USERS ARE URGED TO VIGILANTLY SAFEGUARD THEIR PAYMENT INFORMATION AND DETAILS. IN THE EVENT OF ANY MISHAP, MISUSE, FRAUD, OR UNAUTHORIZED TRANSACTION, Kaaspay SHALL NOT BE HELD LIABLE, PROVIDED SUCH TRANSACTION HAS BEEN DULY AUTHORIZED BY THE USER, ACQUIRING BANK, CREDIT CARD ISSUING COMPANY, OR ANY OTHER RELEVANT PARTY, AS THE CASE MAY BE.
For the purpose of these Terms of Service, the following words and phrases shall have the meaning assigned to them under this Terms of Service:
a. Acquiring Bank:- means any bank or financial institution that processes debit card or credit card payments or payments from any other payment instrument of the User.
b. Affiliate:Application programming interface (API) is a set of subroutine definitions, communication protocols, and tools for building software and implies a software code that allows two software programs to communicate with each other.
d. Convenience Fee:means the convenience fee payable by the User to Kaaspay for using the Services through the Application.
e. Payee:means any person to whom a payment is made by the User using the Services.
f. Password:- means the one-time password sent by the card issuing or any other relevant third party for authorizing the payment from the User’s designated account or PIN set by the User or the alphanumeric password set by the User to access the Services through the User Account.
g. Person:means any natural person, limited or unlimited liability company, corporation, partnership (whether limited or unlimited), proprietorship, Hindu undivided family, trust, union, association, government, or any agency or political subdivision thereof, or any other entity that may be treated as a person under applicable law.
h. Self–Financing Transaction:- means a Transaction where the registered User avails or uses the Application to, inter alia, fund his own business account or that of his spouse or relatives or affiliates, transfer funds to the Payee against any fake or fraudulent transactions, transfer funds to a self-owned account, use of a payment instrument of a User by any other User on the Application for funding the User, transfer of funds to any subsidiary, holding, associate company of the User, or any related party, unless such transfer of funds is towards a genuine transaction between the User and the Payee.
i. Service Provider:- means a bank, association, facility provider, card issuing institution, Acquiring Bank, payments gateway, other financial institution, card processor, clearing house networks, or any such vendors or service providers that Kaaspay may engage with from time to time to provide the Services.
j. Settlement Account:- means such a bank account maintained by Kaaspay or the account of any payment Service Provider (who provides services in the capacity of a payment aggregator or payment gateway) on-boarded by Kaaspay for the provision of the Services.
k. Transaction:- means a payment instruction that results in the successful transfer of monies or settlement from a User to a Payee.
l. Transaction Amount:- means the total amount payable by a User to a Payee. This amount shall not include all applicable taxes, charges, interest, delivery costs, Convenience Fee, and other such incidental charges, etc.
m. User Account:- shall mean the account of the User created on the Application for availing the Services.
- By agreeing to these Terms of Service, a User (a natural Person) represents that they are at least 18 years old, the age of majority, and are competent to contract. If the User is registering on behalf of a company, partnership, or any other legal entity, they confirm being duly authorized by such entity and permitted under Applicable Laws to accept these Terms of Service. The User warrants having the full power and authority to accept and abide by these Terms of Service, making them binding and enforceable. All Services provided by Kaaspay are subject to these Terms of Service. When availing Services on behalf of a legal entity, the User represents that the entity is fully authorized to accept these Terms of Service, binding it accordingly.
- If Kaaspay modifies or amends the eligibility criteria and the User no longer complies, as determined by Kaaspay, the User accepts that Kaaspay may restrict or suspend access to the Services without any liability. The User is responsible for ensuring compliance with these Terms of Service.
- The User agrees to update devices as instructed by Kaaspay and ensures proper encryption and security measures on their devices to prevent hacking. The User accepts liability for any compromise, unauthorized use, or disclosure of information.
- The Services may not be used for illegal or unauthorized purposes, and the User must not violate any Applicable Laws. Kaaspay reserves the right to refuse or discontinue Services to anyone at any time.
- To avail the Services, the User must be registered with Kaaspay and, if required, with Service Providers. The User provides necessary documents for identity verification. By registering, the User agrees to provide accurate information, and failure to do so may result in rejection of registration. A User Account is created upon registration, and the User is responsible for activities under the account.
- The User undertakes to use the User Account only for valid and genuine transactions. It is the User's responsibility to keep account information updated, and any change must be reported promptly. The User must not impersonate any person or entity and is solely responsible for maintaining the confidentiality of their username and password.
- The User is required to submit specific information during registration, including valid identification, address proof, PAN, GST number, and other details specified by Kaaspay. The User authorizes inquiries for identity validation and agrees to allow Kaaspay access, use, processing, and sharing of provided information to comply with applicable laws or court orders.
- By using the Application and/or the Website, the User consents to receive calls, messages, or WhatsApp messages from Kaaspay, Service Providers, and specified third parties. This includes promotional and transactional messages, subject to the Privacy Policy.
- The Services are for making payments to the Payee or settling valid and legal transactions. The User is responsible for any loss or damage resulting from non-compliance with Kaaspay's instructions.
- Kaaspay is appointed as an agent to hold, receive, disburse, and settle funds on behalf of the User. The User confirms that Kaaspay may engage payment aggregators or gateways for transaction processing.
- Kaaspay initiates fund transfers to the Payee's account promptly, deducting Convenience Fees and other charges. Kaaspay has no obligation to verify transaction authenticity once initiated with valid credentials. The User is responsible for maintaining the security and confidentiality of the User Account.
- The User must furnish correct information, and Kaaspay is not responsible for goods or services delivery. Disputes must be communicated within three hours of the transaction. Kaaspay is an online intermediary, not liable for payment issues, product defects, or service deficiencies between the User and the Payee.
- All transactions are in Indian Rupees. Kaaspay or Service Providers are not liable for any issues preventing payment processing, and the User acknowledges Kaaspay's role as a facilitator for tax payments.
- Users are prohibited from using the Application or Services to share content that is harmful, harassing, defamatory, obscene, pornographic, libelous, invasive of privacy, hateful, racially or ethnically objectionable, encouraging illegal activities, or related to money laundering, gambling, gaming, or transactions involving Virtual Digital Assets.
2. Intellectual Property Infringement:- Users shall not infringe on any patent, trademark, copyright, or other proprietary rights.
3. Malicious Software:- Users are prohibited from uploading or transmitting content containing viruses, corrupted files, or any other software designed to interrupt, destroy, or limit the functionality of computers, websites, software, hardware, or telecommunications equipment.
4. Commercial Activities:- Advertising or offering goods or services for commercial purposes is not allowed.
5. Unlawful Nature:- Users shall not engage in illegal activities, promote promotional services, products, surveys, contests, pyramid schemes, spam, unsolicited advertising, chain letters, or falsify information.
6. False Information:- Users must not publish false or misleading information with the intent to mislead or harass others for financial gain or to cause harm.
7. Defamation:- Users shall not defame Kaaspay, its employees, officers, directors, agents, partners, or service providers, including posting defamatory content on social media.
8. Threats and National Integrity:- Users are prohibited from posting content that threatens the unity, integrity, defense, security, or sovereignty of India, friendly relations with foreign states, public order, incites the commission of any cognizable offense, or insults any other nation.
9. Virtual Digital Asset Definition:- For the purpose of these restrictions, "Virtual Digital Asset" is defined as any digital representation of value, non-fungible tokens, or other digital assets specified by the Central Government.
10. Prohibited Activities:- Users shall not attempt to reverse engineer, decompile, or extract the source code of the Application or Website, use automated means to create User Accounts, collect information for illegal purposes, transmit harmful items, disrupt services, or engage in any activity contrary to applicable laws, regulations, guidelines, or public policy.
11. Misuse of Application:- Users must not use the Application, Website, or Services in a manner contrary or repugnant to applicable laws, regulations, guidelines, judicial dicta, or public policy. Kaaspay reserves the right to suspend User Accounts or take legal action without prior notice.
These restrictions aim to maintain a secure and lawful environment for users, safeguarding against harmful activities and ensuring compliance with legal and ethical standards.
- Kaaspay will provide Users with a transaction confirmation when a payment is made to a Payee's designated bank account. This confirmation serves as the User's receipt.
2. Account Activity Summary:- Upon request, Kaaspay may furnish a summary of the User's account activity, covering up to one year. However, the User is solely responsible for maintaining permanent records of all transactions and associated data, reconciling transactional information, and compiling permanent records.
3. Error or Unauthorized Transaction:- If the User suspects an error or unauthorized transaction activity in their account, they must contact Kaaspay immediately. The User assumes responsibility for any errors or unauthorized transactions on their account and shall indemnify, defend, and hold Kaaspay harmless in such cases.
1. Disputes with Payees:
- Kaaspay and Service Providers are not responsible for disputes between Users and Payees, including issues related to prices, delivery, service quality, or any other aspect of the transaction. Disputes are to be resolved directly between the User and the Payee, with Kaaspay not acting as a party to such disagreements.
2. Payment Timings:- Kaaspay does not guarantee payment timings, as they depend on various factors such as the User's bank, card issuing bank/processor, Acquiring Bank, and other Service Providers. Kaaspay is not liable for delays in payment delivery or fund availability.
3. User Responsibility for Information:- Users are responsible for providing accurate information to Kaaspay when enabling the Services. Miscommunication or incorrect information provided by the User may lead to consequences for which the User is accountable.
4. Transaction Limits:- Kaaspay and Service Providers reserve the right to impose limits on the number and amount of transactions. They also reserve the right to reject and refund transactions exceeding specified limits or for Users with a history of questionable charges.
- Kaaspay is not liable for any improper, fraudulent, unauthorized, duplicate, or erroneous use of the User's mobile, web-based access, or any other platform due to loss, theft, cloning, or any other reason. Users are responsible for the security of their accounts.
2. Third-Party Access:- Users will be fully liable for any unauthorized use of their mobile/email accounts. Kaaspay is not responsible for direct or indirect consequences related to the use or misuse of the User's accounts by third parties. Users indemnify Kaaspay against any liability arising from such misuse.
3. No Liability for Various Scenarios:- Kaaspay holds no liability for defects in products or services supplied by third parties, refusals to honor payments, malfunctions of computer terminals or equipment, unsuccessful transactions, misstatements, errors, or omissions by the User, whether or not Kaaspay had prior notice.
These terms emphasize the importance of user responsibility for accurate information, secure account practices, and the resolution of disputes directly with Payees. Users should maintain records and promptly report any issues to Kaaspay.
- The content of the Application and its trademarks, service marks, and logos ("Marks") are owned or licensed to Kaaspay, subject to intellectual property rights. Users are prohibited from copying, reproducing, distributing, or exploiting the Application content without prior written consent from Kaaspay.
2. Use of User's Marks:- Users expressly agree, undertake, and consent to the use of their marks on the Application by Kaaspay.
- Kaaspay, acting as an intermediary between banks, service providers, and users, provides content and functionality on the Application. It is not engaged in making payments itself.
2. No Warranty of Services:- All content and functionality on the Application are provided "as is," without any warranty. Kaaspay makes no warranties, express or implied, regarding the accuracy, adequacy, uninterrupted service, or error-free functionality of the Application.
3. User Acknowledgment:- Users acknowledge that their use of the Application and services is at their sole risk. Kaaspay is not liable for any direct, incidental, punitive, special, consequential, or exemplary damages resulting from the use or inability to use the Application or services.
- Users agree that the entire risk arising from access and use of the Application and services remains with them. Neither Kaaspay nor the acquiring bank nor any other party involved will be liable for incidental, special, exemplary, or consequential damages.
2. System Failures and Non-Completion of Transactions:- Kaaspay is not responsible for system failures, downtime, or non-availability on the bank/utility provider's website or tax authorities' website. Except for payment obligations, Kaaspay's aggregate liability is limited to INR 1,000 or the amount paid by the user for availing the application, whichever is lesser.
3. Additional Liability:- In case Kaaspay incurs additional liability due to user negligence or fault, Kaaspay reserves the right to recover such amount from the user, along with damages, losses, costs, and fees. These terms outline the limitations of Kaaspay's liability, the acknowledgment of risks by users, and disclaimers regarding warranties associated with the Application and its services.
- Service Providers will authenticate, authorize, and process payment instructions from the User, transferring the approved Transaction Amount to Kaaspay's Settlement Account.
2. Convenience Fee:- Users shall pay a Convenience Fee to Kaaspay for the services rendered. The details of the Convenience Fee are available on the Application, and Kaaspay reserves the right to charge fees differentially.
- Users are informed of the Convenience Fee before making a Transaction, and their agreement to the Fee is a prerequisite for proceeding. Convenience Fees are non-refundable.
- Kaaspay deducts its Convenience Fees and applicable taxes per successful Transaction and transfers the remaining Transaction Amount to the Payee's designated bank account.
3. Taxation:- Kaaspay deducts its Fees and GST from Transaction Amounts. Users are responsible for determining and paying any other applicable taxes. Kaaspay disclaims liability for any other taxes and is not obligated to assess, collect, or remit them.
4. Payout Schedule:- Kaaspay initiates automatic payouts to the Payee's designated bank account based on timelines specified by Acquiring Banks and Service Providers.
- Payments are made by Kaaspay, subject to processing and receipt of funds, through its designated bank account or other banking channels.
- Payouts on non-business days are initiated on the next business day. Kaaspay may defer payout or restrict access to funds to investigate disputes or comply with legal requirements.
5. Processing Errors:- Kaaspay endeavors to rectify processing errors to the best of its efforts. In case of Payee receiving fewer funds than entitled, Kaaspay credits the account for the difference upon receiving necessary funds and verifying the shortfall.
- If Payee receives excess funds, Kaaspay notifies and requests a refund. Users must notify Kaaspay of processing errors before transaction processing to attempt corrections. Failure to notify promptly constitutes a waiver of any owed amounts.
These terms outline the payment procedures, Convenience Fees, taxation, payout schedules, and the resolution of processing errors. Users are responsible for understanding and adhering to these payment terms.
- A "Chargeback" refers to a request initiated by the Reserve Bank of India, cybercrime cell, governmental authority, or any Service Providers under the direction of a governmental authority. It is made for a refund to the concerned User based on certain circumstances.
2. Reasons for Chargeback:- User refusal to honor payment or demands a refund due to unsatisfactory, defective, or undelivered products/services.
- Payments returned by the Acquiring Bank.
- Charges arising from alleged hacking, breach of security, or encryption utilized by Service Provider/Kaaspay/Payee.
3. Irreversibility of Payments:- Once a payment is initiated through the Application, retracting it might not be possible due to the rapid movement of funds.
- Neither the Acquiring Bank nor Kaaspay is responsible for chargebacks or refunds in such cases.
- Kaaspay disclaims liability for any Chargeback or related issues.
4. User-Payee Resolution:- Retraction of payment and Chargeback resolution should occur directly between the User and Payee.
- Chargeback requests may be entertained only if the Payee refunds the amount, and Kaaspay disclaims liability in this context.
5. Responsibility and Reimbursement:- Kaaspay is not responsible for making payments regarding Chargebacks unless it receives the requisite amounts from the Reserve Bank of India, cybercrime cell, governmental authority, or Service Providers under their direction.
- Upon receiving such amounts, Kaaspay will pass them on to the User within 7 working days.
This policy outlines the conditions and procedures related to Chargebacks, emphasizing the direct involvement of Users and Payees in resolving payment issues. Kaaspay's role is defined concerning the reimbursement process. Users are urged to acknowledge and adhere to this policy.
- Once a User initiates a Transaction, it cannot be canceled after processing has begun.
2. User Responsibility for Payee Details:- Users are solely responsible for adding accurate Payee bank account details on the Application.
- Kaaspay is not liable to validate or check account details on behalf of the User.
- Incorrect bank details entered by the User are non-refundable, and Kaaspay, Service Providers, and Acquiring Banks are not responsible for wrong/incorrect transactions.
3. Dispute/Query Resolution:- Users can raise a dispute or query regarding a Transaction within 3 hours of initiation.
- Disputes/queries raised after 3 hours will not be considered valid, and Kaaspay is not liable for refunds in such cases.
4. Refund Claims after Settlement:- Refund claims after Transaction settlement cannot be rolled back.
- Users agree to resolve such transactions directly with the Payee offline and inform Kaaspay of the resolution.
5. No Refunds for Successfully Processed Transactions:- There will be NO REFUNDS or REVERSALS for successfully initiated/processed Transactions.
- Refunds are not applicable even if a transaction occurs due to User default or negligence.
6. Refunds for Technical Failures:- Users will be fully refunded for any debits due to technical failure on the Application.
- Complete refund, including the Convenience Fee (if any), will be credited within 7 to 10 working days.The refunded amount will be credited to the original source of payment within this timeframe.
7. No Chargeback of Convenience Fee:- Refunds to Users will not include any Chargeback of Convenience Fee and related taxes.
8. Suspicious or Invalid Payments:- Kaaspay reserves the right to hold back payments deemed suspicious or invalid due to User violation of the Terms of Service.
1. Users indemnify and hold Kaaspay, Acquiring Bank, and Service Providers harmless from liabilities, judgments, damages, losses, claims, costs, and expenses arising from: