TERMS AND CONDITIONS FOR THE REWARDS PROGRAM

1. Introduction

1.1 These terms and conditions (“Rewards Terms”) for the Rewards Program (defined below) are incorporated into and subject to Our Terms & Conditions (“Terms”) and shall be read harmoniously and in conjunction with the Terms. All capitalised terms used but not defined herein shall have the meaning ascribed to them under the Terms.

1.2 We operate a rewards program (“Rewards Program”) as an initiative to reward Our valued Users for their continued engagement and loyalty towards Our App. This Rewards Program is accessible through the latest version of the App obtained through the Official Sources.

1.3 Users can earn Rewards (defined below) through their usage of the App, in accordance with these Rewards Terms. Rewards earned will be visible to Users within the App, where all details associated with the Rewards (such as how they were earned, how they may be redeemed, applicable limitations, specific terms, conditions and indicators), are accessible. Certain Rewards are provided on Android devices only. Information regarding this will be communicated to the User on the App.

2. Eligibility

To participate in the Rewards Program, You must:

2.1 be a registered User of the App with an active account, in good standing, in accordance with the Terms;

2.2 comply with all KYC requirements as mandated by the Company from time to time. In this regard, the User acknowledges that KYC may be undertaken by the Company either by itself or with the assistance of third parties; and

2.3 comply with any other such terms and conditions as may be specified by the Company, in relation to the Rewards Program and the Activities.

2.4 have downloaded and installed the App from the Official Sources, and must access and use the App and the Rewards Program only through a version of the App obtained from the Official Sources

3. Earning Rewards

3.1 Rewards are earned through specific activities on the App, such as:

(a)  UPI Registration and Transactions (“UPI Rewards”): By registering for the UPI payments feature on the App and subsequently completing transactions identified in the Annexure, Users may earn such Rewards (as set out in the Annexure), against each successfully completed transaction;

(b)  Availing Certain other Services: By availing certain other Services offered on the App; and

(c)  Setting up UPI AutoPay for Loan Repayments: By successfully setting up and activating a UPI AutoPay mandate through Moneyview UPI for repayment of a loan availed through the App, Users may earn such Rewards as may be determined and communicated by the Company from time to time;

(d)  Referral: Referral by Users (“Referrer”), of our products and services on the App, to friends, family or other contacts (“Referred User”); and subsequent actions undertaken by the Referred User pursuant to such referrals. Referral by Users and subsequent actions undertaken by the Referred User pursuant to such referrals shall collectively be referred to as “Successful Referrals”. It is hereby clarified that the Company shall determine, in its sole discretion, the actions that may comprise a Successful Referral and timelines within which any action is required to be undertaken to qualify for Rewards.

(e) Money Manager Rewards: By activating the Money Manager feature on the App and successfully setting a monthly budget through Money Manager, an eligible User may earn such Rewards as may be determined and communicated by the Company from time to time. Such Reward shall be available only once per User and may be availed only upon successful completion of the qualifying activity in the manner prescribed and recognised by the Company’s systems. Re-setting, modifying or creating any subsequent monthly budget shall not entitle the User to any additional Reward.

3.2 Specific activities set forth in Clause 3.1(a) to (e) shall collectively be referred to as “Activities”.

3.3 The Company reserves the right to modify, add, or remove Activities at its sole discretion.

3.4 For eligible Activities specified in Section 3.1 above, Users will earn rewards (“Rewards”) in the form of:

(a)  Internal reward points that can be accumulated and redeemed as specified (“Mcoins”); and

(b)  Any other form of Rewards as decided by the Company from time to time.

3.5 The number of Mcoins earned by the User may vary per Activity and per transaction, as determined by the Company. The User may view the number of Mcoins earned and redeemed, in the ‘Mcoins Zone’ (or otherwise labelled by the Company) available on the App.

3.6 The Company shall have the right to subject the User to additional terms and conditions in order to earn Rewards in case of any Activity. Such information will be communicated to the User on the App.

3.7 In no event can the Rewards be purchased directly by Users. They can only be earned and are solely obtainable through eligible Activities as outlined above and provided by the Company at its sole discretion.

3.8 Exclusions:

(a)  The Rewards Program does not apply to the insurance products solicited, marketed or sold by the Company as an IRDAI registered Corporate Agent (Composite) operating as an Insurance Self-Network Platform (ISNP). No Rewards can be earned from the purchase or referral of insurance products on the App.

(b)  Rewards are not applicable to any fraudulent, unlawful, or unauthorized activities (each as determined by the Company in its sole capacity) or reversed or cancelled transactions, as detailed in these terms and conditions.

(c) Rewards are not applicable to any Activity initiated, undertaken or completed through or in connection with an Unofficial Version, even if the Activity is otherwise successfully completed.

(d) Rewards are not applicable to any Potentially Fraudulent Transaction, as set out in Clause 5.9

4. Redemption of Rewards

Users can redeem their Mcoins in the following ways:

4.1 By redeeming Mcoins against the digital gold product offered by the Company through the App, per the terms specified by the Company. For the purpose of redemption of Mcoins, the value of 10 (ten) Mcoins is equivalent to INR 1/- (Indian Rupee One Only). The value of Mcoins for the purpose of redemption may be modified by the Company at its sole discretion.

4.2 By redeeming Mcoins for a cash payout, the cash amount will be credited either (i) to the bank account linked to the User’s Moneyview UPI ID, or (ii) to a bank account manually provided by the User for this purpose (“Manual Bank Account”), subject to Clauses 4.3 to 4.4 and Clause 6.2 below. For the purpose of redemption of Mcoins into cash, the value of 10 (ten) Mcoins is equivalent to INR 1/- (Indian Rupee One Only). The value of Mcoins for the purpose of cash redemption may be modified by the Company at its sole discretion and may differ from the value applicable to redemption against digital gold or any other redemption option.

4.3 Where the User has to provide a Manual Bank Account for the purpose of cash redemption, the User is solely responsible for ensuring the accuracy and correctness of the bank account details provided. The Company does not undertake any independent verification of the Manual Bank Account details provided by the User. The Company shall not be liable for any loss, delay, misdirected payout, or failure of redemption arising from incorrect, incomplete, or outdated Manual Bank Account details provided by the User, and the User shall bear sole responsibility for any resulting loss. The Company reserves the right, but is not obligated, to conduct verification (including penny-drop or similar validation) of the Manual Bank Account prior to processing any payout, and may decline to process a payout where such verification fails or is not undertaken.

4.4 Where the User redeems Mcoins for cash payout to the bank account linked with the User’s Moneyview UPI ID, such payout shall be made to the account so linked at the time of UPI registration.

4.5 Cash payouts under Clause 4.2 are processed at the Company’s discretion and may be subject to timelines, minimum/maximum payout thresholds, transaction fees (if any, which shall be disclosed prior to redemption), and such other conditions as the Company may specify on the App from time to time. The Company shall not be liable for any delay in credit of the payout amount arising from the User’s bank, the banking system, or any third-party payment infrastructure used to process the payout.

4.6 The User must have accumulated a minimum number of Mcoins, as determined and communicated by the Company, to be eligible for redemption against any redemption option. The redemption of Rewards is subject to such conditions or limits as specified in these terms and conditions, which may be updated periodically and such other conditions or limits as determined by the Company in its sole discretion.

4.7 The Rewards redeemed as digital gold may also be subject to certain conditions and/or restrictions (including a lock-in), as determined and communicated by the Company, in its sole discretion.

4.8 The Company does not guarantee the availability of any specific redemption option and may modify, add, or remove redemption options at any time.

5. General Terms and Conditions

5.1 Transferability: All Rewards are non-transferable and can only be redeemed by the User to whom they are awarded and redeemed as per the redemption process mentioned in these terms and conditions and as communicated by the Company.

5.2 Limit on Redemption: The maximum value of all rewards (including benefits, digital gold or other incentives provided by the Company under other schemes and offers) that a User can redeem from the Company per financial year is capped at INR 49,900 (Indian Rupees Forty Nine Thousand Nine Hundred Only).

5.3 Eligibility Period for Redemption: Rewards become eligible for redemption only after a specific time period, as determined and communicated by the Company, since it was credited to the User.

5.4 Expiry of Rewards: Rewards have an expiry date of 1 (one) year from the date of being credited to the User. Expired Rewards will be forfeited without any compensation.

5.5 Reversal of Rewards: The Company reserves the right to reverse the credit of Rewards in some cases, which may be decided by the Company in its sole discretion and communicated to the User on the App. This includes without limitation reversal of transaction for which Rewards were awarded, any suspected fraud etc. Where the Company determines, at any time, that Rewards were earned or redeemed through an Unofficial Version or in breach of Clause 2.4, the Company may, without prior notice, reverse or cancel such Rewards, block their redemption and, to the extent permitted by applicable law, recover the value of any Rewards already redeemed (including digital gold obtained by redeeming Mcoins) by adjusting or setting it off against the User's other Rewards or by any other lawful means.

5.6 Modification and Termination:

(a)  The Company reserves the right to modify, suspend, or terminate the Rewards Program, including the methods of earning and redeeming Rewards, at any time without prior notice.

(b)  Continued participation in the Rewards Program will constitute Your acceptance of any updates to these terms and conditions governing the Rewards Program.

5.7  Nature of Rewards: The Rewards, including Mcoins, are provided by the Company solely at its discretion as an incentive for User engagement with the App, and do not constitute a deposit, stored value instrument, or prepaid payment instrument. Mcoins cannot be purchased, transferred to any other User, or used to make payments to any third party, and may only be redeemed through the specific redemption options made available by the Company from time to time, including redemption against digital gold or for a cash payout as set out in Clause 4. The availability of a cash payout redemption option does not alter the nature of Mcoins as a non-transferable, internal reward mechanism, and any cash payout made pursuant to Clause 4 represents a benefit disbursed by the Company at its sole discretion and not the return, withdrawal, or encashment of any value deposited or held by the User with the Company.

5.8 Purpose: The Rewards Program is solely for rewarding Users for their loyalty towards usage of the App and does not serve to promote any specific products offered by third parties or any Services.

5.9 Fraud Prevention and Withholding of Rewards

Notwithstanding anything in these Rewards Terms, the Company may, in its sole discretion and without prior notice, withhold, delay, reverse, cancel or forfeit any Rewards relating to any transaction or Activity that the Company identifies, through its fraud, risk or compliance systems (for e.g., payments made to VPAs such as ‘XXXX7269@ucba0000291.ifsc.npci’) or on information received from NPCI, a bank, a payment service provider or any authority, as potentially fraudulent, suspicious or high risk (a "Potentially Fraudulent Transaction"). The Company shall not be liable for any loss arising from any action taken in good faith under this Clause.

5.10 Dispute Resolution: In the event of any dispute regarding the Rewards Program and/or the Rewards, the Company’s decision shall be final and binding. The provision on ‘Governing Law and Arbitration’ in the Terms shall apply mutatis mutandis to these terms and conditions of the Rewards Program.

6. Responsibilities and Liabilities

6.1 Company’s Responsibility:

(a)  The Company will bear all expenses related to the provision and redemption of Rewards.

(b)  The Company is not liable for any issues arising from the redemption process, including delays or errors, beyond the control of the Company , including delays or errors arising from incorrect Manual Bank Account details provided by the User, or from the banking or payment infrastructure used to process cash payouts..

6.2 User Responsibility:

(a)  Users are responsible for maintaining the confidentiality of their account credentials.

(b)  Users shall be responsible for any tax obligations, which may arise under applicable law from their participation in the Rewards Program including but not limited to earning any Rewards, redemption of any Mcoins for digital gold, or any other method of redemption which may be specified by the Company from time to time. You agree to indemnify and hold harmless the Company and its affiliates from all losses, claims and liabilities resulting from or relating to any tax obligations (including any interests and penalties) that may arise from your participation in the Rewards Program and receipt of Rewards.

(c)  Unauthorized use of an account for earning or redeeming Rewards will result in account suspension and possible forfeiture of all Rewards.

(d) The User shall be solely responsible for the accuracy of any Manual Bank Account details provided for the purposes of cash redemption under Clause 4 and agrees to indemnify and hold harmless the Company and its affiliates from all losses, claims and liabilities arising from any inaccuracy, error, or unauthorized use of such details.

6.3 The Company may display details of selected Users for the purpose of communicating Campaign results. By participating in the Campaign, you hereby provide your consent to the Company to display your name for the purposes of announcing the Users who have received a Reward.

6.4 Participation in the Program: Participation in the Rewards Program and redemption of the Rewards is voluntary, and the Users are free to not avail or redeem any Rewards. Users may automatically earn Rewards through their usage of the App. Not engaging with the Rewards Program or not redeeming the Rewards will not have any adverse effects on the services provided by the Company.

6.5 Rewards shall not be earned, credited, redeemed or otherwise made available in connection with any activity that is incomplete, unsuccessful, reversed, made through an Unofficial Version, constitutes a Potentially Fraudulent Transaction, cancelled, fraudulent, unlawful, unauthorised or otherwise ineligible, or where the User fails to comply with any eligibility criteria, conditions, limitations or requirements specified under these Rewards Terms or as otherwise determined and communicated by the Company from time to time. The Company may, in its sole discretion, withhold, reverse, cancel or forfeit any Rewards in such cases.

7. Privacy and Data Usage

7.1 All personal data collected in connection with the Rewards Program will be handled in accordance with the Privacy Policy of the Company. By participating in the Rewards Program, Users consent to the collection, use, processing and sharing of their data as described in the Privacy Policy.

7.2 Bank account details provided by the User for the purposes of cash redemption, including under a Manual Bank Account, will be collected, used, and stored in accordance with the Privacy Policy and applicable law, solely for the purpose of processing such redemption.

Annexure – UPI Rewards: Specific Terms and Conditions

This Annexure forms part of, and must be read in conjunction with the Rewards Terms. Terms and conditions set out in the Rewards Terms (including but not limited to eligibility redemption, KYC) shall continue to apply unless expressly modified below. Unless otherwise stated, UPI Rewards models set out below are available on latest version of the App, on Android devices only.