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 ( (“Fi Terms”). The UPI Terms regulate payments made by you on the Platform by using UPI Facility (as defined hereinafter).


“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 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
  • You are solely responsible to keep your UPI PIN and Bank Account related details confidential. Sharing such information with others may lead to unauthorized usage, for which we shall not be responsible.
  • You shall take full responsibility of the payment request that you make and authorize through the UPI Facility, including addition of beneficiary, typing and reviewing UPI IDs, phone numbers, QR Codes and validating intended recipients and we do not verify correctness of information that you enter during payment processing, including authorization.
  • You agree that you shall provide all accurate and correct information to us and we shall not be responsible for any losses, liabilities that may arise due to incorrect information provided by you. 
  • You agree that participants in the UPI payment system 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 are required to ensure availability of sufficient funds in your Bank Account(s) in order to avoid transaction declines.
NPCI Roles and Responsibilities
  • NPCI owns and operates the UPI platform. 
  • NPCI prescribes rules, regulations, guidelines, and the respective roles, responsibilities and liabilities of the participants, with respect to UPI. This also includes transaction processing and settlement, dispute management and clearing cut-offs for settlement 
  • NPCI approves the participation of issuer banks, PSP Banks, TPAPs and Prepaid Payment Instrument issuers (PPIs) in UPI.
  • NPCI provides a safe, secure and efficient UPI system and network
  • NPCI provides online transaction routing, processing and settlement services to members participating in UPI.
  • NPCI can, either directly or through a third party, conduct audits on UPI participants and call for data, information and records, in relation to their participation in UPI.
  • NPCI provides the banks participating in UPI access to a system where they can download reports, raise chargebacks, update the status of UPI transactions etc.
PSP Bank Roles and Responsibilities
  • PSP Bank, either through its own app or through TPAP’s app, on-boards and registers the end-user customers on UPI and links their bank accounts to their respective UPI ID. 
  • PSP Bank is responsible for authentication of the end-user customer at the time of registration of such customer, either through its own app or TPAP’s app 
  • PSP Bank engages and on-boards the TPAPs to make the TPAP’s UPI app available to the end-user customers  
  • PSP Bank has to ensure that TPAP and its systems are adequately secure to function on UPI platform
  • PSP Bank is responsible to ensure that UPI app and systems of TPAP are audited to safeguard security and integrity of the data and information of the end-user customer including UPI transaction data as well as UPI app security 
  • PSP Bank has to store all the payments data including UPI Transaction Data collected for the purpose of facilitating UPI transactions, only in India
  • PSP Bank is responsible to give all UPI customers an option to choose any bank account from the list of Banks available on UPI platform for linking with the customer’s UPI ID.
  • PSP Bank is responsible to put in place a grievance redressal mechanism for resolving complaints and disputes raised by the end-user customer
 EPIFI or TPAPs Roles and Responsibilities
  • We are a service provider and participate in UPI through PSP Bank
  • We are responsible to comply with all the requirements prescribed by PSP Bank and NPCI in relation to our participation in UPI 
  • We are responsible to ensure that our systems are adequately secure to function on the UPI platform
  • We are responsible to comply with all applicable laws, rules, regulations and guidelines etc. prescribed by any statutory or regulatory authority in relation to UPI and our participation on the UPI platform including all circulars and guidelines issued by NPCI in this regard 
  • We have to store all the payments data including UPI Transaction Data collected by us for the purpose of facilitating UPI transactions, only in India. 
  • We are responsible to facilitate RBI, NPCI and other agencies nominated by RBI/ NPCI, to access the data, information, systems of Epifi  related to UPI and carry out audits, as and when required by RBI and NPCI
  • We shall facilitate the end-user customer with an option to raise grievance through our grievance redressal facility made available through the Platform or website and such other channels as may be deemed appropriate by us like email, messaging platform etc.
Dispute & Grievance Redressal
  • We shall be the first point of contact for all UPI related grievances/complaints. 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.
  • You can raise a complaint with respect to a UPI transaction, on the Platform. 
  • You can select the relevant UPI transaction and raise a complaint in relation thereto
  • The complaint can be raised for both the types of transactions i.e. fund transfer and merchant transactions
  • You shall be kept communicated by us with regards to the status of your complaint on the Platform.


Grievance Redressal Link

PSP Bank

Sharing of Information

You understand that in order to provide you with the UPI Facility we may require access to your personal information including your mobile number and the UPI Transaction Data. You hereby agree and understand that this is information that we need to collect to provide you with the UPI Facility and consent to the same.

In order to understand how we protect and use your information you may refer to our Privacy Policy.

Indemnity & Liability

In no event will we 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 UPI Facility. You shall indemnify and hold us harmless from any claim or demand, or actions including reasonable attorneys’ fees, made by any third party or penalty imposed due to or arising out of your breach of these UPI Terms or your violation of any law, rules or regulations or the rights (including infringement of intellectual property rights) of a third party.


You understand that the terms of availing of UPI payment facility using NPCI Platform, PSP and us shall not create any contractual obligation against any NCPI system participants.

We do not make any warranties and make no representation about the quality and availability of UPI Facility.

We endeavor to execute and process transactions as per the defined process, however, we shall not be held responsible for any non-responsiveness, delay, failure of systems or any other circumstances that might not be in our control.

Your transaction records and other logs maintained with us shall be final and binding as a proof of this facility and transactions.