Terms of use

Terms of Use

  • 2. Scope of these Terms of Use
  • 2.1. These Terms of Use govern the opening, use and closure of your Payzak.com Account and other related payment services as referred to herein. Together with our Privacy Policy, and any other terms and conditions referred to therein, they constitute the legal relationship between you and us. For the use of additional services you may have to accept additional terms and conditions as notified to you when you are ordering or using such services. You are advised to print or download and keep a copy of these Terms of Use for future reference. You can always view the current Terms of Use on our Website.
  • 2.2. You are also advised to read the answers to the Frequently Asked Questions which are published on our Website.
  • 2.3. Depending on the type of Payzak.com Account you have, additional terms and conditions may apply as communicated to you at the appropriate time.
  • 3. Your Payzak.com Account
  • 3.1. Your Payzak.com Account is an electronic money account which enables you to send and receive electronic payments.
  • 3.2. Your Payzak.com Account is denominated in Indian currency.
  • 3.3. Subject to section 7, the electronic money held on your Payzak.com Account does not expire but it will not earn any interest.
  • 4. Opening Your Payzak.com Account
  • 4.1 In order to use our payment services you must first open a Payzak.com Account by registering your details on our Website. As part of the signup process you will need to accept these Terms of Use and our Privacy Policy and you must have legal capacity to accept the same. If you order additional services, you may be asked to accept additional terms and conditions.
  • 4.2 If you are an individual, you must be 18 years or older to use our services and by opening a Payzak.com Account you declare that you are 18 years or older. This does not apply to products for which we set a different age limit. We may require at any time that you provide evidence of your age.
  • 4.3 You may only open one Payzak.com Account unless we explicitly approve the opening of additional accounts.
  • 4.4 You may only open a Payzak.com Account if it is legal to do so in your country of residence. By opening a Payzak.com Account you represent and warrant to us that your opening of aPayzak.com Account does not violate any laws or regulations applicable to you. You shall indemnify us against any losses we incur in connection with your breach of this section.
  • 4.5 All information you provide during the signup process or any time thereafter must be accurate and truthful.
  • 4.6 You may only add payment instruments (such as bank accounts, credit cards or debit cards) to your Payzak.com Account if you are the named holder of that payment instrument. We take any violation of this requirement very seriously and will treat any attempt to add a payment instrument of which you are not the named holder as a fraudulent act.
  • 4.7 During signup you will be asked whether you intend to use your Payzak.com Account for private or commercial purposes. If you have any intention to use your Payzak.com Account for commercial purposes, you must tell us, even if you use it also for private purposes. If you have stated that you will use your Payzak.com Account for private purposes only, you must tell us immediately before, at any point in the future you use it for commercial purposes by contacting Customer Service. You are using your Payzak.com Account for commercial purposes if you are receiving payments for or in connection with any business activity. We reserve the right to determine whether, in our reasonable opinion, you are using your Payzak.com Account for commercial purposes. If you are using your Payzak.com Account for commercial purposes, in addition to these Terms of Use, you shall be bound by our Merchant Terms and Conditions. If you are in any doubt about whether or not an activity amounts to a commercial activity, you should contact Customer Service.
  • 5. Maintaining Your Payzak.com Account
  • 5.1. You must ensure that the information recorded on your Payzak.com Account is always accurate and up to date and we shall not be liable for any loss arising out of your failure to do so. We may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence.
  • 5.2. We may contact you by e-mail or in other ways described in section 19 with information or notices regarding your Payzak.com Account. It is your responsibility to regularly check the proper functioning of your e-mail account or other methods of communication that you have registered with your Payzak.com Account and to retrieve and read messages relating to your Payzak.com Account promptly. We shall not be liable for any loss arising out of your failure to do so.
  • 6. Keeping Your Payzak.com Account Safe
  • 6.1. You must take all reasonable steps to keep your Payzak.com Account password safe at all times and never disclose it to anyone. Our personnel will never ask you to provide your password to us or to a third party. Any message you receive or website you visit that asks for your password, other than the Payzak.com Website or a Payzak.com payment gateway on a merchant website, should be reported to us. If you are in doubt whether a website is genuine, you should contact Customer Service. It is advisable to change your password regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to your Payzak.com Account. We also advise you not to choose a password that is easily guessed from information someone might know or gather about you or a password that has a meaning. You must never allow anyone to access your Payzak.com Account or watch you accessing your Payzak.com Account.
  • 6.2. If you have any indication or suspicion of your Payzak.com Account, login details, password or other security feature being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you are advised to change your password. You must contact Customer Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorised use of your Payzak.com Account, login details, password or other security features. Any undue delay in notifying us may not only affect the security of your Payzak.com Account but may result in you being liable for any losses as a result. If you suspect that your Payzak.com Account was accessed by someone else, you should also contact the police and report the incident.
  • 6.3. We may suspend your Payzak.com Account or otherwise restrict its functionality on reasonable grounds relating to the security of the Payzak.com Account or any of its security features or if we reasonably suspect that an unauthorised or fraudulent use of your Payzak.com Account has occurred or that any of its security features have been compromised. We will notify you of any suspension or restriction and of the reasons for such suspension or restriction in advance or, where we are unable to do so, immediately after the suspension or restriction has been imposed, unless notifying you would be unlawful or compromise our reasonable security interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons for the suspension and/or restriction have ceased to exist.
  • 6.4. You must take all reasonable care to ensure that your e-mail account(s) are secure and only accessed by you, as your e-mail address may be used to reset passwords or to communicate with you about the security of your Payzak.com Account. In case any of the e-mail addresses registered with your Payzak.com Accounts are compromised, you should without undue delay after becoming aware of this contact Customer Service and also contact your e-mail service provider.
  • 6.5. Irrespective of whether you are using a public, a shared or your own computer to access your Payzak.com Account, you must always ensure that your login details are not stored by the browser or cached or otherwise recorded. You should never use any functionality that allows login details or passwords to be stored by the computer you are using.
  • 6.6. Additional products or services you use may have additional security requirements and you must familiarise yourself with those as notified to you.
  • 7. Closing Your Payzak.com Account
  • 7.1. You may close your Payzak.com Account at any time by contacting Customer Service.
  • 7.2. We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorising any withdrawal of your funds, including in relation to returning any funds to you after you have closed your Payzak.com Account.
  • 8. Sending Payments
  • 8.1. To send a payment you are required to authorise the payment with your login details and password. We may also ask you additional security questions relating to you or your Payzak.com Account. If your Payzak.com Account is protected by additional security measures such as password tokens, you need to follow the instructions provided to you with such additional security measures. If your Payzak.com Account is enabled to make mass payments, the procedure to make such payments will be communicated to you in the relevant integration manual.
  • 8.2. Every recipient of a payment you wish to send through us must have a valid means that we can use for their identification. For most of our services that means of identification will be a valid e-mail address but other means of identification may be required for our other services (for example for the Payzak.com iT money transfer services, we may require you to provide us with the recipient's mobile telephone number).
  • 8.3. If you are asked to provide details of the recipients e-mail address or other means of identification, where applicable, you must take great care to properly type the exact details of who you wish to send money to. We use those details as the unique identifier to determine the intended recipient of the payment which you instruct us to process. Other information you provide along with the recipients means of identification may be disregarded and we shall not be liable for any error you make when entering the recipients means of identification.
  • 8.4. Payments are subject to payment limits due to security and legal requirements. These limits are set dynamically depending on your verification status. You can view these limits at any time in your Payzak.com Account profile. You should ensure that your limits are sufficient to cover the payment you intend to make as well as any applicable fees including service fees and currency conversion fees. You should be aware that the recipient of a payment may also be subject to spending and withdrawal limits and that this may affect the recipients access to the funds you intend to send.
  • 8.5. Sending payments is subject to fees and currency conversion fees depending on the type of payment you make and the type of Payzak.com Account you hold.
  • 9. Prohibited Transactions
  • 9.1 It is strictly forbidden to send or receive payments as consideration for the sale or supply of: Tobacco products Prescription drugs Drugs and drug paraphernalia Weapons (including without limitation, knives, guns, firearms or ammunition) Satellite and cable TV descramblers Pornography, adult material, material which incites violence, hatred, racism or which is considered obscene Government IDs and licences including replicas and novelty items and any counterfeit products Unlicensed or illegal lotteries or gambling services (including without limitation the use of or participation in illegal gambling houses) Unregistered charity services Items which encourage or facilitate illegal activities Prepaid debit cards or other stored value cards that are not associated with a particular merchant and are not limited to purchases of particular products or services Third party processing or payment aggregation products or services Multi-level marketing, pyramid selling or ponzi schemes, matrix programmes or other get rich quick schemes or high yield investment programmes Goods or services that infringe the intellectual property rights of a third party. Un- coded/miscoded gaming Timeshares or property reservation payments (On and Off Plan) We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories either to these Terms of Use or an acceptable use policy published on the Website.
  • 9.2.It is strictly forbidden to make payments to or to receive payments from persons or entities offering illegal gambling services, including (but not limited to) illegal sports betting, casino games and poker games. We may suspend or terminate your Payzak.com Account at any time or refuse to execute or reverse a transaction if we believe that you directly or indirectly use or have used your Payzak.com Account for or in connection with illegal gambling transactions. Countries where online gambling is illegal include the United States of America, Turkey, China, Malaysia and Israel. This list is not exhaustive and it is your responsibility to ensure that you do not use our services for transactions that may be considered illegal in your jurisdiction.
  • 9.3. You may not use our services if you are residing in any of the following countries: Afghanistan, Cuba, Iran, Myanmar, Nigeria, North Korea, North Sudan, Somalia, South Sudan, Syria or Yemen. This list is not exhaustive and we may in our sole discretion decide to discontinue or restrict our services in other countries at any time and without prior notice. We reserve the right to suspend or terminate your Payzak.com Account at any time if we reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognised body for the prevention of financial crime.
  • 9.4. It is strictly forbidden to use your Payzak.com Account for any illegal purposes including but not limited to fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency. You are prohibited from using your Payzak.com Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides.
  • 9.5. You may only accept payments for certain categories of business after approval from us in our sole discretion. Such business categories include but are not limited to: money exchange or remittance businesses, including but not limited to bureaux de change, currency exchanges and purchase of travel money; the collection of any form of donations or payments to charitable or not- for-profit organisations; dealing in natural resources such as jewels, precious metals or stones; live streaming the sale or supply of alcoholic beverages; the sale of supply of dietary supplements and alternative health products; any other business category published in an acceptable use policy on the Website from time to time. In case you are in doubt whether your business falls under any of the above categories, you must contact Customer Service.We reserve the right in our sole discretion, to add business categories requiring approval by adding such categories either to these Terms of Use or an acceptable use policy published on the Website.
  • 9.6. If you conduct or attempt to conduct any transaction in violation of the prohibitions contained in this section 9 or without the necessary approval under section 9.5, we reserve the right to: reverse the transaction; and/or close or suspend your Payzak.com Account; and/or report the transaction to the relevant law enforcement agency; and/or claim damages from you; and charge you an administration fee of up to 15,000 INR in case we apply any of the above.
  • 9.7. It is your and not our responsibility to ensure that you only send payments to or receive payments from persons or entities for the sale or supply of goods and services that you may provide or receive in compliance with any applicable laws and regulations. The mere fact that a person or entity accepts payments through us is not an indication of the legality of the supply or provision of their goods and services. If you are in doubt as to the legality of a supply or purchase, you should not continue with your payment.
  • 10. Your Data
  • 10.1. The processing of your data is governed by our Privacy Policy which can be found on our Website. By accepting these Terms of Use, you also agree to the terms of our Privacy Policy. You should print and keep a copy of the Privacy Policy together with these Terms of Use.
  • 10.2. As a default, you will receive e-mail newsletters that will inform you about new product features, events, promotions, special deals etc. By accepting these Terms of Use, you agree to receive such e-mail newsletters on a regular basis. If you do not wish to receive any newsletters from us, you can opt out at any time by logging into your Payzak.com Account and changing the appropriate setting in your Payzak.com Account profile. You can also opt out of receiving newsletters by contacting Customer Service. Any e-mail newsletter you receive will also give you the option to unsubscribe from any future newsletter.
  • 11. Liability
  • 11.1. In case of an unauthorised payment or a payment that was incorrectly executed due to an error by us, we shall at your request immediately refund the payment amount including all fees deducted therefrom. This shall not apply:
  • 11.1.1. where the unauthorised payment arises from your failure to keep the personalised security features of your Payzak.com Account safe in accordance with section 6 in which case you shall remain liable for the first 5000 INR (or equivalent in the currency of your Payzak.com Account) unless section
  • 11.1.3. Applies
  • 11.1.2. If you fail to notify us without undue delay of any loss of your password or other event that could reasonably be expected to have compromised the security of your Payzak.com Account after you have gained knowledge of such event in which case you shall remain liable for losses incurred up to your notification to us;
  • 11.1.3. if the transaction was unauthorised but you have compromised the security of your Payzak.com Account with intent or gross negligence in which case you shall be solely liable for all losses; or
  • 11.1.4. if you fail to dispute and bring the unauthorised or incorrectly executed transaction to our attention within 13 months from the date of the transaction;
  • 11.2. Section
  • 11.1.1 Shall not apply to transactions made after you have notified us in accordance with section 6.2 in which case we shall remain liable and refund any unauthorised transaction immediately to you.
  • 11.3. Without prejudice to the foregoing, you are asked to check the transactions history of your Payzak.com Account regularly and frequently and to contact Customer Service immediately in case you have any questions or concerns.
  • 11.4. In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.
  • 11.5. Subject to the foregoing, we shall not be liable for any disruption or impairment of our service or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, provided that such disruption or impairment is due to abnormal and unforeseeable circumstances beyond our reasonable control or the control of the intermediary affected.
  • 11.6. We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with legal and regulatory requirements.
  • 11.7. Nothing in these Terms of Use shall operate to exclude liability for death or personal injury due to negligence or for fraud or fraudulent misrepresentation or for any statutory liability that cannot be excluded or amended by agreement between the parties.
  • 11.8. Our obligation under these Terms of Use is limited to providing you with an electronic money account and related payment services and does not make any statement in relation to or endorsement of the quality, safety or legality of any goods or services provided by a Payzak.com customer or intermediary.
  • 11.9. We shall not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and another Payzak.com customer.
  • 11.10. Indemnification/re-imbursement. You agree to defend, reimburse or compensate us and hold us and our other companies in our corporate group harmless from any claim, demand, expenses or costs (including legal fees, fines or penalties) that we incur or suffer due to or arising out of your or your agents' breach of these Terms of Use, breach of any applicable law or regulation and/or use of the services. This provision shall survive termination of the relationship between you and us.
  • 12. Termination and suspension
  • 12.1. We may terminate your Payzak.com Account or any payment service associated with it by giving you two months prior notice. You may terminate your Payzak.com Account with us at any time. Different termination provisions may apply if you use your Payzak.com Account for commercial purposes as set out in section 4.7 above.
  • 12.2. Together with a termination notice or at any time thereafter we may give you reasonable instructions on how to withdraw remaining funds.
  • 12.3. If your Payzak.com Account is subject to a reserve, termination of your Payzak.com Account will not affect our right to hold the reserve and to make deductions therefrom for the time agreed.
  • 12.4. We may at any time suspend or terminate your Payzak.com Account without notice in case:
  • 12.4.1. You breach any condition of these Terms of Use or any other condition applicable to specific services covered by separate terms and conditions;
  • 12.4.2. You violate or we have reason to believe that you are in violation of any law or regulation that is applicable to your use of our services; or
  • 12.4.3.We have reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.
  • 12.5. We may suspend your Payzak.com Account at any time if:
  • 12.5.1. we reasonably believe that your Payzak.com Account has been compromised or for other security reasons; or
  • 12.5.2. We reasonably suspect your Payzak.com Account to have been used or is being used without your authorisation or fraudulently; and we shall notify you either prior to the suspension or, if prior notification is not possible under the circumstances, promptly after the suspension unless we are prohibited by law to notify you.
  • 13. Changes to these Terms of Use
  • 13.1. These Terms of Use and any additional terms and conditions that may apply are subject to change. Changes will be implemented with prior notice from us under the procedure set forth in this section.
  • 13.2. We shall give notice to you of any proposed change by sending an e-mail to the primary e-mail address registered with your Payzak.com Account.
  • 13.3. The proposed change shall come into effect two (2) months after the date of the change notice, unless you have given us notice that you object to the proposed changes before the changes come into effect. Changes that make these Terms of Use more favourable to you shall come into effect immediately if so stated in the change notice. Changes to exchange rates shall come into effect immediately without notice and you shall not have the right to object to such a change.
  • 13.4. If you object to the changes, they will not apply to you, however, any such objection shall constitute a notice by you to terminate and close your Payzak.com Account. Your Payzak.com Account will be closed in accordance with the provisions of section 7 above.
  • 14. How We Communicate
  • 14.1. We usually communicate to you via e-mail. For this purpose you must at all times maintain at least one valid e-mail address in your Payzak.com Account profile. You are required to check for incoming messages regularly and frequently. E-mails may contain links to further communication on our Website. Any communication or notice sent by e-mail will be deemed received by you on the same day if it is received in your e-mail inbox before 4.30 pm on a Business Day. If it is received in your email inbox after 4:30pm on a Business Day or at any other time, it will be deemed received on the next Business Day.
  • 14.2. Where legislation requires us to provide information to you on a durable medium, we will either send you an e-mail (with or without attachment) or send you a notification pointing you to information on our Website in a way that enables you to retain the information in print format or other format that can be retained by you permanently for future reference. You are required to keep copies of all communications we send or make available to you.
  • 14.3. You can request a copy of the current Terms of Use or any other contractual document relevant to you by contacting Customer Service.
  • 14.4. In order to view emails you need a computer with e-mail software that can display e-mails in HTML format. We may also send you attachments in Adobe Systems Incs Portable Document Format (PDF), for which you need Adobe Acrobat Reader, which can be downloaded for free at www.adobe.com.
  • 14.5. We will never send you any e-mails with executable files attached or with links to any executable files. If you receive any e-mail with such attachments, you should delete the message without clicking on the attachment. If you are unsure whether a communication is originating from us, please contact Customer Service.
  • 14.6. We will communicate to you in English and will always accept communications made to us in English. You can choose your preferred language from the list of supported languages in your Payzak.com Account profile and we will send you automated e-mail notifications and communications regarding changes to these Terms of Use in your chosen language. For non-standard communication, we reserve the right to communicate with you in English. Documents or communications in any other languages are for convenience only and shall not constitute an obligation on us to conduct any further communication in that language.
  • 14.7. Apart from communicating via e-mail, we may contact you via letter or telephone, where appropriate. If you use any mobile services, we may communicate with you via SMS. Any communication or notice sent by post will be deemed received three days from the date of posting for Indian post or within five days of posting for international post. Any communication or notice sent by SMS will be deemed received the same day.
  • 14.8. You may contact us at any time by sending a message to Customer Service via the E-Mail Support facility on our Website or by calling +91 7299 114455.