This document is an electronic record in the form of an electronic contract formed under Information Technology Act, 2000 and Rules made thereunder. These UPI terms and conditions (“UPI Terms
”) shall be read together with the Fi Money terms and conditions (https://fi.money/T&C
) (“Fi Terms
”). The UPI Terms regulate payments made by you on the Platform by using UPI Facility (as defined hereinafter).Definitions
“Bank Account”- Any bank account or any other payment accounts offered by a regulated entity where money can be held, money can be debited from, and can be credited to.
“Customer’s Bank” - The bank where the end-user customer maintains his/her account that has been linked for the purpose of debiting/crediting the payment transactions made through UPI.
“NPCI” - NPCI is an authorized payment system operator by RBI. NPCI owns and operates the UPI payment system.
“Platform” - is the mobile application/website, provided by us for providing various financial services to you including enabling payments through UPI.
“PSP Bank” - PSP Bank is the banking company authorized to act as a Payment Service Provider (PSP) under the UPI framework. PSP Bank engages the TPAP to provide UPI Facility to the end-user customers.
“TPAP” - Third Party Application Provider (TPAP) is an entity that provides the UPI compliant mobile applications to the end-user customers to facilitate UPI transactions.
“UPI” - Unified Payment Interface, operated by NPCI.
“UPI Facility” - UPI based electronic fund transfer and fund collection facility provided by us to users through the NPCI UPI System as per the applicable guidelines.
“UPI PIN”- PIN used as authorization credentials for authorizing a UPI transaction.
“we”, “our”, “ourselves”, “us”, “Epifi”- Refers to Epifi Technologies Private Limited
“you”, “your”, “end user customer”, “user”- is the individual who uses UPI Facility on the Platform to send and receive payments.Registration
Registration for the UPI Facility may be done in the manner as provided on the Platform by registering on the Platform. User can link their Bank Accounts through a one-time registration process defined and standardized by NPCI.
UPI Facility can be used for money transfers to other persons or to pay merchants for purchase of products and services. To conduct a UPI transaction you would need to enter either the UPI ID/phone number of the beneficiary or scan their QR Code and then enter your UPI PIN to authorize every UPI payment. You need to ensure that you are connected to the internet at the time of making any transaction.
You understand that the UPI Facility is only a payment option available for payments and we shall not be responsible for the products / services purchased using the UPI Facility.
UPI transactions are subject to transaction limits that may be set by us or any other participant of the UPI payment system and/or as may be prescribed under applicable law. Further, you understand that a UPI transaction initiated by you may also be rejected/suspended by any UPI payment participant based on their respective policies and assessment or pursuant to applicable law.
In case you notice any unauthorized transaction, you should report it to us through our dispute redressal mechanism provided in these UPI Terms.
We may review your activity and transactions on the Platform for identifying high risk transactions. We may also engage third parties to assist us in these efforts. In case, we believe that any other activity may be suspicious or unusual, we may temporarily or permanently suspend your access to the UPI Facility.Your Responsibility & Obligations