EASY PLATFORM SERVICES PRIVATE LIMITED, a company incorporated under the Companies Act, 2013, bearing CIN: U72900MH2019PTC327468 and has its registered office at Ground Floor, Dyna Business Park, Street No 01, MIDC, Andheri (East), Chakala MIDC, Mumbai-400 093, Maharashtra, India (hereinafter referred to as “Company” or “us” or “we”) has developed and is the owner of the mobile application called “Zype” (“App”) and website at https://www.getzype.com/ (“Website”) (the App and Website are hereinafter together referred to as the “Platform“). All services provided by Zype under these Terms have been specifically detailed in separate Parts herein.
Please read these Terms and Conditions (“Terms”) carefully before accessing or using the Zype platform (“Platform”). By accessing or using the Platform—whether through the website or by downloading the app—you (“User” or “You” or “Your”) acknowledge that you have read, understood, and unconditionally agreed to be bound by these Terms, along with our Privacy Policy https://www.getzype.com/privacy-policy/ ,disclaimer, and policies set forth herein.
In order to avail any of the services offered on the Platform, whether provided directly or in partnership with third-party service providers (“Platform Partners”), it is essential that you accept and comply with all the Terms and related policies. If you do not agree with any part of these Terms, you should not access or use the Platform, create an account, review any content, or subscribe to any of the services or offerings made available on the Platform.
PART A: DIGITAL LENDING SERVICES
The Platform provides access between multiple users in the form of consumers, financial institutions, data partners and other partners, lenders, borrowers, service providers etc. (“User“, “you” or “your”) with a view to facilitate lending and borrowing activities, including providing other financial products between the Users. List of our lending partners is provided at Schedule I herewith.
THE COMPANY IS NOT A LENDER (AS DEFINED BELOW) AND DOES NOT PROVIDE ANY LOANS OR OTHER CREDIT FACILITIES. THE COMPANY IS MERELY OPERATING THE PLATFORM TO FACILITATE YOUR APPLICATION TO AVAIL THE LOAN OR CREDIT FACILITIES AND ANY OTHER PRODUCTS.
Headings of clauses are only for convenience and are not intended to be used to interpret the contents thereunder. Please read these Terms in full.
“Affiliates” mean any bodies incorporated which are controlled by, control, or under common control with, the Company, whether by virtue of owning, including as a beneficiary, the majority of voting capital or by having the right to appoint a majority on the board of directors or other management organ, or both.
“Lender(s)” shall mean our lending partners which are non-banking financial company or banks registered with RBI with whom the Company has partnered for Loan sanction, which would approve, sanction, process and grant the Loan to the customer(s), through the Platform.
“Loan” shall mean the loan/credit facilities that you may apply for through the Platform and which is approved, sanctioned and granted by Lenders, subject to the applicable terms and conditions of the Loan Agreement and these Terms and accepted by you in favour of the Lenders.
“Loan Agreement” shall mean the loan agreement to be executed between the Lenders and the customer(s)/borrower(s) for granting the Loan whether in physical or electronic form as may be applicable from time-to-time.
“Platform” shall mean the App and the Website and other facilities including the Zype call-center facility, collectively.
USE OF THE PLATFORM IS AT YOUR SOLE RISK. WHILE WE MAKE REASONABLE EFFORTS TO ENSURE THE SAFETY AND FUNCTIONALITY OF THE PLATFORM, THESE EFFORTS MAY FAIL AND ERRORS MAY OCCUR. IN NO EVENT SHALL COMPANY OR ANY OTHER PARTY INVOLVED IN THE CREATION, PRODUCTION, OR DELIVERY OF THE CONTENT OF THIS PLATFORM BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES OF ANY KIND, OR ANY DAMAGES WHATSOEVER RESULTING FROM LOSS OF USE, COMPUTER VIRUS OR SYSTEM FAILURE, OR LOSS OF DATA OR PROFITS, ARISING OUT OF OR IN CONNECTION WITH THE USE OR PERFORMANCE OF THE PLATFORM (OR THE CONTENT PROVIDED AT THE PLATFORM ON ANY APPLICATION RELATED TO ANY THIRD PARTY), OR USERS’ INABILITY TO USE THE CONTENT CONTAINED IN THE PLATFROM, ON ANY THEORY OF LIABILITY. WE WILL NOT BE LIABLE OR RESPONSIBLE FOR ANY LOSS OR DAMAGE CAUSED BY OR ARISING FROM YOUR RELIANCE ON THE CONTENT ON THE PLATFORM. THESE WAIVERS APPLY EVEN IF THE COMPANY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. IN NO EVENT SHALL OUR LIABILITY TO YOU FOR ANY DAMAGES, LOSSES, OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT, INCLUDING, BUT NOT LIMITED TO, NEGLIGENCE OR OTHERWISE) EXCEED THE AMOUNT, IF ANY, PAID BY YOU TO US FOR ACCESSING THIS PLATFORM SUBJECT TO THE MAXIMUM LIABILITY OF THE COMPANY, WHICH SHALL BE Rs.500.
You hereby agree to defend, indemnify, and hold harmless the Company and Lenders and their Affiliates, parents, subsidiaries, and their respective employees, agents, contractors, officers, directors, third party associates, successors and assigns from all liabilities, claims, demands, damages and expenses, including without limitation attorneys’ fees and costs, that arise from your use or misuse of this Platform or the services provided therein, without limitation, any actual or threatened suit, demand, or claim made against the Company arising out of or relating to any breach of the representations, warranties, and covenants made by you herein, your conduct, your violation of these Terms, or your violation of the rights of any third party including intellectual property rights or as a result of any threatening, libelous, obscene harassing or offensive material posted/ transmitted by you on the Platform. The Company reserves the right, at your expense, to assume the exclusive defence and control of any matter for which you are required to indemnify the Company, including rights to settle, and you agree to cooperate with the Company’s defense and settlement of these claims. The Company will use reasonable efforts to notify you of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This indemnification obligation shall survive these Terms and use of the Platform.
Schedule I
PART B: ZYPE UPI SERVICES – TERMS AND CONDITIONS
“NPCI” – refers to the National Payments Corporation of India, the RBI-authorized operator of the UPI payment system.
“UPI” – Unified Payment Interface, as defined by NPCI under respective directives and notifications.
“PSP Bank” – a banking company authorized under the UPI framework to function as a Payment Service Provider. It collaborates with the TPAP to offer UPI services to end-user customers.
“TPAP” – Third Party Application Provider (TPAP) refers to an entity that offers UPI-compliant application(s) to end users for facilitating UPI-based payment transactions.
“Bank Account”– any account held with a regulated entity, including bank or other payment accounts, that allows funds to be stored, debited, and credited.
“VPA” – Unique Virtual Payment Account, registered with NPCI that can be linked with Your Bank Account.
“UPI PIN”– a 4 to 6-digit numeric Personal Identification Number used as an authorization credential by the Issuer Bank to debit the customer’s account.
“UPI Number”– Is an 8-11 digit number, without any UPI handle (@PSP), which can be chosen by You, which will act as a proxy to Your VPA. By default, Your 10 digit mobile number can be configured as Your UPI Number by Zype, along with the other UPI Numbers chosen by You.
Unified Payments Interface (“UPI”) is a real-time payment system developed by the National Payments Corporation of India (“NPCI”) that enables instant fund transfers between bank accounts. UPI provides a unified architecture and a set of standardized API specifications to support seamless online transactions. Its primary goal is to simplify digital payments by offering a single interface across all NPCI systems, promoting interoperability and enhancing user experience.
The Company operates as a Third-Party Application Provider (“TPAP”), authorized by NPCI to offer UPI payment services through its partner sponsor bank(s) (“PSP Bank(s)”). Through its Platform, the Company facilitates UPI payments for Users using functionalities made available by NPCI from time to time. These include, but are not limited to, payments via Virtual Payment Address (VPA)/UPI ID, mobile number, bank account transfers, and QR code-based Scan & Pay options.
In its role as a TPAP, the Company enables You to send and receive funds from Your linked bank account on the Platform (“UPI Payment Services”). As NPCI continues to enhance the UPI ecosystem with new features, the Company will integrate such developments into its Platform. These enhancements may include services such as UPI Lite, UPI Global, Credit on UPI, and more, in line with NPCI’s directives.
Additionally, the Company may leverage the UPI infrastructure to enhance the User experience across other features and products that require payments, such as bill payments, EMI repayments, and other similar services.
You acknowledge and agree that: (i) Zype acts solely as a facilitator of payment transactions through its Platform and is not a party to any such transactions; (ii) Zype is not a PSP Bank nor a payment system operator; (iii) Zype does not handle or process any funds and is not involved in the actual flow of funds between the sender and the recipient within the UPI ecosystem; (iv) Zype is not responsible for the goods or services that You choose to purchase using the UPI payment facility offered on its Platform; (v) Zype shall not be liable for the actions or omissions of any Users who utilize its UPI Payment Services; and (vi) Zype is not a party to, and bears no responsibility for, any disputes, chargebacks, or reversals that may arise in connection with payment transactions carried out using its UPI Payment Services.
Access to and use of the UPI Payment Services is permitted only to individuals who are legally capable of entering into a binding contract and are not disqualified or declared incompetent under the Indian Contract Act, 1872. By using the services, You represent and warrant that:
(i) You are a resident of India with a valid Indian bank account and an active Indian mobile number;
(ii) You are at least 18 (eighteen) years old and legally eligible to enter into a binding agreement;
(iii) You are not prohibited from availing UPI Payment Services under any applicable laws; and
(iv) You have the legal capacity to enter into a binding contract.
If You are accessing or using the UPI Payment Services on behalf of a legal entity, You further represent and warrant that:
(i) You are duly authorized to act on behalf of such entity and have the authority to bind it to these UPI Terms; and
(ii) You acknowledge that upon Your acceptance, the Privacy Policy shall apply to and be binding on all individuals who access or use the UPI Payment Services on the Platform on behalf of the said entity.
To avail the UPI Payment Services, You are required to register on the Platform and link Your bank account in accordance with these UPI Terms.
The UPI Payment Services on the Platform are available only to Users who have registered using their mobile number and email address (referred to as the “User Account”). To use these services, You must link your bank account associated with your active mobile number on the Platform (the “Source Account”).
The UPI registration process is governed by the guidelines issued by the National Payments Corporation of India (“NPCI”), which Zype is obligated to comply with. To access the UPI Payment Services on the Platform, You are required to grant specific permissions, such as sending an SMS to verify the mobile number linked to your Source Account. This verification process allows You to link your Source Account to your User Account. The linkage can be completed by using your debit card details, OTP, or any other authentication method prescribed by NPCI under its UPI guidelines.
Once your Source Account is successfully linked, all UPI payment transactions initiated on the Platform will be managed by the Payment Service Provider (PSP) Bank or the remitter bank, in accordance with applicable UPI regulations. This also means that certain features or updates in the UPI Payment Services may be defined by the PSP Bank, which Zype is required to implement to remain compliant with NPCI’s UPI framework.
You acknowledge and agree that the information you provide during the UPI registration process—including your Source Account details and any other relevant data—may be shared with and securely stored by the PSP Bank and/or NPCI. By proceeding, You provide your explicit and informed consent to Zype, the PSP Bank, and/or NPCI to collect, process, store, and share such information for the purpose of enabling the UPI Payment Services and to ensure compliance with applicable legal and regulatory requirements.
The UPI Payment Services on the Platform may be used for Peer-to-Peer (P2P) transactions through various UPI features such as Scan & Pay, payments to a Virtual Payment Address (VPA), Pay to Contact, Bank Transfer, and similar options. In addition to these, Users may also make payments to merchants for purchasing goods or services, whether through online or offline modes, using the Platform.
To authorize any UPI transaction, You must enter your UPI PIN. It is Your responsibility to ensure that You have an active internet connection at the time of initiating a transaction. While UPI is available as one of the payment methods across multiple merchant platforms, Zype does not take any responsibility for the quality, delivery, or performance of the goods or services purchased using its UPI Payment Services. All liability relating to such purchases is expressly disclaimed.
You also acknowledge and agree that UPI transactions may be subject to minimum and maximum transaction limits, which may be set by Zype, the PSP Bank, You, or other payment participants, or as mandated under applicable laws. Furthermore, Zype, the PSP Bank, or other payment participants reserve the right to reject or suspend transactions (in full or in part) based on their internal policies and risk assessments.
You may view the records of Your transactions on the Platform under the ‘Transaction History’ section. It is solely Your responsibility to regularly review the transactions carried out through Your User Account. If You notice any discrepancies or unauthorized transactions, You must report them in accordance with the Dispute Redressal Mechanism detailed below.
Zype does not charge its Users for availing UPI Payment Services on the Platform. However, We reserve the right to change the fee policy from time to time, subject to applicable laws. We may introduce fees for any new services or amend/introduce fees for existing services, as the case may be. Changes to the fee(s) shall be notified accordingly to You via the Platform and such changes shall automatically become effective immediately after they are notified. The payment system participants or payment system operators may charge You a nominal transaction fee for UPI transfers, as may be communicated to You by such respective payment system participants or payment system operators.
Zype reserves the right to monitor Your activity and transactions on the Platform to identify transactions that may be considered high-risk. To support this process, Zype may engage third-party service providers for assistance in monitoring and risk assessment.
If any transaction initiated by You, or any other activity associated with Your User Account, is deemed suspicious or unusual, Zype may, at its sole discretion, temporarily or permanently restrict or suspend Your access to the UPI Payment Services on the Platform.
Transactions may be declined for various reasons, including but not limited to risk management, suspected fraudulent or illegal activity, transactions involving the purchase or sale of prohibited items, usage of compromised or blacklisted payment instruments (such as cards or UPI accounts), chargebacks, complaints, or any other reasons in accordance with applicable laws and regulations.
Zype may further investigate such transactions and, based on its findings, suspend or terminate Your User Account. Additionally, Zype may report the transaction and associated User Account details to law enforcement agencies or regulatory authorities, as required or permitted under applicable law.
By registering and conducting transactions on the Platform, You agree and undertake the following responsibilities:
a. Correct Mobile Number Registration:
You are solely responsible for registering the correct mobile number on the Platform. This mobile number will be used to verify and link Your Source Account. Accordingly, the mobile number registered with Zype must also be linked to the bank account that You intend to use as Your Source Account for UPI Payment Services.
b. Mobile Number Changes:
If You update or change the mobile number linked to Your Source Account, You must re-register on the Platform using the new mobile number. UPI Payment Services will be discontinued for the previous mobile number that is no longer associated with Your Source Account.
c. Confidentiality of Credentials:
You are entirely responsible for maintaining the confidentiality of any One-Time Password (OTP), UPI PIN, passcode, or similar authentication information used on the Platform. Zype will not be held liable for any unauthorized use arising from Your disclosure of such confidential information.
d. Accuracy of Payment Details:
You are solely responsible for ensuring the accuracy of the payment details of the intended recipient, including (but not limited to) their correct VPA, mobile number, UPI ID, QR code, or bank account details. You are also solely responsible for initiating and verifying any payment requests made through the Platform to other individuals or entities.
e. Sufficient Balance:
You are responsible for maintaining adequate funds in Your Source Account to ensure successful transaction processing and to avoid any failure charges that may be levied by Your bank.
f. Numeric UPI ID Mapping:
You acknowledge that Zype will onboard You to the UPI Central Mapper, which enables creation of a Numeric UPI ID (linked to Your mobile number) as per NPCI guidelines. This allows You to send and receive funds using Your mobile number. You further agree that Zype will not validate this against the NPCI Mapper when a Zype User sends funds to Your Zype-registered mobile number and will directly process the transaction to Your linked Source Account.
g. Defined Roles of UPI Participants:
You understand that the roles and responsibilities of NPCI, the PSP Bank, and Zype (as a TPAP) are defined and governed by NPCI. These can be accessed via the official link provided by NPCI.
Subject to applicable laws, all payment transactions processed through the Platform are non-refundable to the User. In the event there is a request for chargeback by a payment system provider, Zype reserves the right to reverse the transaction amount. Such reversal of transaction amount shall also be subject to the internal policies of the relevant payment system provider and Your arrangement with such payment system provider.
The UPI foreign inward remittance feature is currently available in select countries and allows You to receive payments from payers located in those countries through their respective mobile applications. By choosing to use this feature, You provide your consent for Zype’s partner bank(s) to share your personal information—including your Virtual Payment Address (VPA), account number, bank name, IFSC code, and other relevant details—with international payment or remittance partners to facilitate cross-border payments via the Zype Application.
You acknowledge and agree that You are solely responsible for complying with all applicable laws, rules, and regulations prescribed by regulatory authorities, including the Reserve Bank of India (RBI), in relation to foreign inward remittances.
The consent provided by You is a one-time authorization that will enable inward remittances to all VPAs and bank accounts linked to your Zype account. You may revoke this consent at any time by visiting the “Permissions” section within your Zype mobile application.
Non-Resident Indian (“NRI”) Users may access and use the Zype App/Zype Platform by registering with their non-Indian mobile numbers that are linked to their Non-Resident External (“NRE”) or Non-Resident Ordinary (“NRO”) bank accounts maintained with banks in India. NRI Users are responsible for ensuring that their NRE/NRO accounts are operated in compliance with all applicable Indian laws and regulations, and that their Know Your Customer (KYC) details are kept up to date at all times.
All data and information, including personal and payment-related data of NRI Users, will be stored, accessed, and processed in accordance with the applicable laws of India.
We may, subject to the applicable guidelines issued by the Reserve Bank of India (“RBI”) and/or NPCI from time to time, enable You to avail ‘UPI Lite’ on the Zype App. UPI Lite is an ‘on-device wallet’ introduced by NPCI for facilitating small-value transactions. Please note that not all banks may support the UPI Lite functionality. You may enable UPI Lite for only one bank account that is linked to Your Zype App (hereinafter referred to as the “UPI Lite Facility”).
To activate the UPI Lite Facility, You must navigate to the relevant section on the Zype App and add funds to the UPI Lite balance. By clicking/tapping on this section, You explicitly provide Your consent to activate the UPI Lite Facility. Funds can only be added from the bank account that has been linked to the UPI Lite Facility via the Zype App, using Your UPI PIN.
You will be able to track the status of transactions conducted through the UPI Lite Facility on the Zype App. Please note that any amount added to UPI Lite will not earn any interest. Payments made using UPI Lite will not require a UPI PIN for each transaction. However, the following transaction limits shall apply:
These limits may be revised at any time without prior notice.
Before switching or changing Your mobile device, You must disable the UPI Lite Facility from the device following the instructions provided on the Zype App, and transfer the remaining balance to Your linked bank account. If You are unable to disable UPI Lite from Your previous device, You should contact Your issuing bank to initiate the transfer of the UPI Lite balance to Your bank account. Zype shall not be liable in such cases.
You may choose to deactivate the UPI Lite Facility at any time by following the steps outlined on the Zype App. Upon deactivation, the remaining balance will be credited back to Your linked bank account.
Unless specifically stated otherwise in this section, all terms applicable to Zype UPI shall also apply to the UPI Lite Facility. In the event of a conflict between this section and the general Zype UPI Terms of Use (excluding this UPI Lite section), the provisions of this section shall prevail. Any disputes arising from transactions made using UPI Lite shall be addressed in accordance with the dispute resolution procedures applicable to Zype UPI.
Zype may offer You the option to avail cardless cash withdrawals at select Automated Teller Machines (“ATMs”) in accordance with these Terms (“Facility”). To use this Facility, You must meet certain eligibility requirements, including but not limited to:
(i) being a customer of a bank that supports UPI-ATM functionality;
(ii) using an ATM that is enabled for this Facility;
(iii) being registered with Zype UPI (to enable UPI as a payment method for this Facility); and/or
(iv) fulfilling other conditions as may be prescribed by NPCI or RBI from time to time.
Once eligible and present at a supported ATM, You may select the “UPI Cash Withdrawal” option and input the desired withdrawal amount. A dynamic, single-use QR code will then appear on the ATM screen. You must scan this QR code using the Zype App on Your registered mobile number and choose the bank account from which the funds are to be withdrawn.
You will then be required to authenticate the transaction using Your UPI PIN via the Zype App. Upon successful authorization, confirmation will be displayed both on the Zype App and the ATM screen. You will then be prompted to collect the dispensed cash from the ATM, and Your issuing bank will notify You of the debit from Your account.
If the transaction fails for any reason after funds have been debited, You are advised to contact Your issuing bank to initiate a refund. Zype shall not be responsible for any such failed transactions or reversals.
You must not leave the ATM unattended until the cash has been successfully dispensed and collected. All transactions through this Facility will be subject to applicable limits set by NPCI, RBI, or Your issuing bank, which may be revised without prior notice. You can view all transactions completed using this Facility in the ‘transaction history’ section of the Zype App.
By using this Facility, You acknowledge and agree that:
(i) Zype only facilitates access to this Facility via its App and does not have information about which ATMs are enabled for this feature. It is Your sole responsibility to confirm the eligibility of the ATM;
(ii) Upon receiving confirmation (via the Zype App and/or ATM screen), You are responsible for collecting the cash and ensuring the currency notes are not damaged, counterfeit, or of a different value than requested. Zype disclaims any liability in this regard.
If Your issuer bank has granted You a credit line (“Credit Line”), Zype may facilitate the linking of this Credit Line to Zype UPI, in accordance with these terms. To initiate this linkage, You will be required to complete certain steps on the Zype App. Once successfully linked, You may use the Credit Line to make payments to select merchants that accept payments through Credit Line via UPI. Note that You may only link a Credit Line that is associated with the mobile number registered on the Zype App.
Within the designated section on the Zype App, You can view a list of issuer banks supported for this Facility. Upon selecting the bank that has issued the Credit Line to You, Zype will retrieve Your Credit Line details. You acknowledge and consent that, for verification purposes, Your mobile network may send an SMS from Your device, and standard SMS charges may apply. Upon successful completion of the necessary steps, a unique Virtual Payment Address (“VPA”) will be created, linking the Credit Line to the Zype App. You may add multiple Credit Lines issued by Your bank in this manner.
To activate UPI transactions for a linked Credit Line, You will need to set a UPI PIN through methods supported by Zype. Based on the method selected, Zype may prompt You to validate associated account details such as Your bank account or debit card before setting the UPI PIN for the linked Credit Line.
Once set up, You can make payments to eligible merchants that support Credit Line payments through Zype UPI. These payments must be authorized by entering Your UPI PIN. Please note that the linked Credit Line may only be used for payments to these specified merchants and cannot be used for peer-to-peer transfers, bank transfers, or cash withdrawals.
You acknowledge that usage of this Facility is subject to:
(i) the Credit Line limit established by Your issuer bank, and
(ii) any applicable UPI transaction limits as prescribed by NPCI.
You may view the available balance of Your Credit Line through the Zype App. This balance information is provided by the issuer bank, and Zype disclaims any responsibility for discrepancies, errors, or inaccuracies. Additionally, You can access Your transaction history for payments made using the Credit Line within the Zype App.
You further agree and acknowledge that:
In case of any refunds related to payments made using the Credit Line through Zype UPI, the refunded amount will be adjusted to the Credit Line in accordance with the terms agreed with Your issuer bank.
Disputes arising from transactions carried out via the linked Credit Line on Zype UPI shall be handled in accordance with the “Disputes and Grievance” section of the Zype UPI Terms of Use and any applicable NPCI guidelines. Refunds and reversals will follow the standard UPI transaction timelines.
Zype has tripartite contractual agreements with sponsor PSP Banks and NPCI and We are obligated to facilitate grievances / complaints resolution of the customers onboarded on our UPI application.
We shall be the first point of contact for all UPI related grievances/complaints for customers on- boarded by us. In case the complaint/grievance remains unresolved, the next level for escalation will be the PSP Bank, followed by the bank (where You maintain the account) and NPCI in the same order. After exercising these options, You can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.
Dispute Redressal Mechanism
You may access the grievance redressal mechanisms of the following entities below:
Entity | Grievance Redressal Link |
PSP Bank | https://www.yesbank.in/pdf?name=grievanceredressal_policy_english.pdf |
NPCI | https://www.npci.org.in/what-we-do/upi/dispute-redressal-mechanism |
In no event will Zype be liable for any indirect, consequential, incidental, special or punitive damages liabilities (including statutory), 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 Zype UPI payment facility.
You agree to indemnify, defend, and hold harmless Zype, its group entities, owners, licensors, affiliates, subsidiaries, and their respective officers, directors, employees, and agents, from and against any and all claims, demands, actions, penalties, losses, liabilities, damages, costs, or expenses (including reasonable legal fees) brought by any third party, arising from or related to:
You acknowledge and agree that Zype reserves the right, at its sole discretion, to terminate Your agreement and restrict Your access to the Zype App without prior notice if it is determined that You have breached these Terms of Use. Additionally, You consent that if Your actions result in any loss to Zype—including but not limited to financial losses—Zype shall be entitled to seek injunctive or other appropriate legal remedies as deemed necessary under the circumstances. Zype may also suspend services or terminate Your access in the event of a violation of the user conduct guidelines applicable to the Zype Platform, as defined by Zype.
Please note that even after termination of the contract, Zype shall retain Your registration details, Virtual Payment Addresses (VPAs), transaction records, and any other information it is permitted to retain in accordance with applicable regulations or as notified by NPCI from time to time, for the duration prescribed under the UPI Payment System guidelines.
This Agreement, along with the rights and obligations arising hereunder, including any matters relating to its interpretation, validity, performance, or termination, as well as the relationship between the parties, shall be governed by and construed in accordance with the laws of the Republic of India. Any disputes or legal proceedings arising in connection with the Zype Services shall fall under the exclusive jurisdiction of the competent courts located in Mumbai, Maharashtra.
Your access to and use of the Platform and the UPI Payment Services is at Your own risk. You understand and agree that the Platform and the UPI Payment Services is provided to You on an “AS IS” and “AS AVAILABLE” basis. Without limiting the foregoing, Zype disclaims all warranties and conditions, whether express or implied, of title, of merchantability, fitness for a particular purpose, or non-infringement. You agree that Zype, PSP Bank or any other system participants shall not be liable for any delay in the completion of the funds transfer or any loss on account of error in the execution of the funds transfer by You .
You understand that the terms of availing of UPI Services using UPI Platform, PSP Bank and Zype shall not create any contractual obligation against any NCPI system participants and downloading or using the Platform does not automatically entitle You for availing the UPI Payment Services. Zype may stop (permanently or temporarily) providing the UPI Payment Service or any features within the Platform to You or to Users generally and may not be able to provide You with prior notice. Zype reserves the right to refuse access to the UPI Payment Services to new Users or to terminate access granted to existing Users at any time without according any reasons for doing so.
Zype endeavours to execute and process transactions as per the defined process, however, Zype makes no warranty and disclaim all responsibility and liability for: (i) the completeness, accuracy, availability, timeliness, security or reliability of the Platform and the UPI Payment Service; (ii) whether the UPI Payment Services will meet Your requirements or be available on an uninterrupted, secure, or error-free basis or whether any errors or defects will be corrected.
Zype shall not be responsible for the delay or inability to use the Platform, UPI Payment Services or related functionalities the provision of or failure to provide functionalities, or for any information, software, functionalities and related graphics obtained through the Platform or otherwise arising out of the use of the Platform or the UPI Payment Services whether based on contract, tort, negligence, strict liability or otherwise. Further, Zype shall not be held responsible for non-availability of UPI Payment Services during periodic maintenance operations or any unplanned suspension of access to UPI Payment Services that may occur due to technical reasons or for any reason beyond Zype’ s control.
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