UPI Terms and Conditions

These UPI Terms and Conditions (“UPI Terms”) mandate the terms on which the Users may register and avail UPI Payment Services on the “Moneyview Personal Loan App”(“App”, which expression shall include future releases of the application) or on the Company’s website www.moneyview.in  (The App and the Website are hereinafter collectively referred to as the “Platform”) owned and operated by Whizdm Innovations Private Limited (hereinafter referred to as the “Company”, “Moneyview”, “We”, “Us”, “Our”). 

Please read these UPI Terms, the Terms and Conditions and Our Privacy Policy carefully before using or registering on the Platform and availing UPI Payment Services or accessing any material, information, etc., through the Platform. By accepting the Terms and our Privacy Policy, You hereby undertake that You have read, understood and have agreed to be bound by these UPI Terms for availing UPI Payment Services on the Platform. If You do not agree to these UPI Terms, please do not access or avail the UPI Payment Services. These UPI Terms shall be incorporated into and subject to Our Terms and shall be read harmoniously and in conjunction with the Terms. All capitalized terms used and not defined in these UPI Terms shall have the same meaning as ascribed to them under the Terms. 

These UPI Terms are an electronic record in terms of the Information Technology Act, 2000 and rules made thereunder as applicable and are generated by a computer system and do not require any physical, electronic, or digital signatures.

1. Scope of Services

The Unified Payments Interface (“UPI”) is a payment platform built by the National Payments Corporation of India (“NPCI”) that allows instant online payments between the bank accounts of any two parties. UPI offers an architecture and a set of standard API specifications to facilitate these online payments. It aims to simplify and provide a single interface across all NPCI systems besides creating interoperability and superior customer experience. The Company is a Third-Party Application Provider (“TPAP”) authorized by NPCI to facilitate payments through its partner sponsor payment service provider bank(s) (“PSP Bank(s)”). The Company enables Users to make UPI payments on its Platform using features provided by NPCI from time to time. These include (but not limited to) payment using Virtual Payment Address (VPA)/UPI ID, Mobile number, Bank Transfer, and Scan & Pay. The Company, in the capacity of a TPAP through the Platform provides payment services to You in transactions involving the payment request made by You for sending or receiving payments to and from Your bank account linked for this purpose on the Platform (“UPI Payment Services”). As NPCI keeps on bringing new features to the UPI payment ecosystem, Moneyview will also add these features on the Platform. These include UPI Lite, UPI Global, Credit on UPI, etc. as per the directions of NPCI. Moneyview will also use the UPI payment ecosystem to provide better customer experience on other features/products where any payment needs to be done by the User. This may include (but not limited to) bill payments, EMI repayments, etc.

You agree and acknowledge that (i) Moneyview is only a facilitator of payment transactions through its Platform and is not a party to such payment transactions; (ii) Moneyview is not a PSP Bank or otherwise a payment system operator; (iii) Moneyview does not handle any funds and is not involved in facilitating the flow of funds between the sender and recipient of funds within the UPI ecosystem; (iv) Moneyview shall not be responsible for any responsible for the products or services You purchase using the UPI Payments facility provided by Moneyview; (v) Moneyview shall not be responsible for any acts or omissions of any Users who use its UPI Payment Services; and (vi) Moneyview shall not be a party to and will not be responsible for any disputes, chargebacks or reversals arising pursuant to any payment transaction undertaken using its UPI Payment Services.

2. Eligibility to use UPI Payment Services

Use and access to the UPI Payment Services is available only to all persons who can be legally bound by contract and who are not disqualified or declared incompetent under the Indian Contract Act, 1872. You hereby represent that You are: (i) a person resident in India having a valid Indian bank account and an active Indian mobile number; (ii) of legal age to form a binding contract i.e., above 18 (eighteen) years of age; (iii) not a person barred from receiving UPI Payments Services under applicable laws and (iv) competent to enter into a binding contract. In case You are using the UPI Payment Services as a representative on behalf of a legal entity You: (i) represent and warrant that You have the full authority to represent the legal entity and have power to bind them; and (ii) understand that the Privacy Policy upon acceptance by You, is applicable to and binds all other persons accessing or using the UPI Payment Services offered on the Platform on behalf of the same legal entity or organization for this purpose. To use the UPI Payment Services, You would have to register on the Platform and link Your bank account in the manner set out in these UPI Terms. 

3. Registration and Linking of Source Account

UPI Payment Services are provided on the Platform only to those Users who have registered on the Platform using their mobile number and email address (“User Account”). For the purpose of using the UPI Payment Services, You would have to connect Your bank account linked with Your active mobile number on the Platform (“Source Account”). 

UPI registration process is defined by NPCI under its UPI guidelines and Moneyview has to adhere to all the guidelines prescribed by NPCI. To avail the UPI Payment Services on the Platform, Users will have to provide necessary permissions like Sending SMS to validate the phone number linked with the Source Account and subsequently verify and link it to Your User Account. Users can link their Source Account by using the debit card details, OTP, or any other mode as prescribed by NPCI in its UPI guidelines. Once the Source Account is linked, all the payment transactions using the UPI Payment Services will be governed by the PSP Bank, or remitter bank as per the applicable UPI guidelines - this means PSP Bank may define the features or updates which Moneyview has to implement to make sure We adhere by UPI guidelines prescribed by NPCI.

You hereby understand that the details provided by You as part of the UPI registration process to create Your User Account, such as details of Your Source Account and other details, shall be shared and maintained at PSP Bank’s and/or NPCI’s secure library. Accordingly, You provide Your explicit and informed consent to Moneyview and/or PSP Bank and/or NPCI to collect, process, share and store such data, for provision of UPI Payment Services and / or for compliance with applicable laws. 

4. Nature of Transactions Facilitated

The UPI Payment Services may be used to make Peer-to-Peer transactions using the features provided by UPI like Scan & Pay, Pay to virtual payment account (VPA), Pay to Contact, Bank Transfer, etc. In addition to the foregoing, Users can purchase goods/services either offline/online and make payments to merchants using the Platform. You need to enter Your UPI PIN for authorizing every UPI payment. You need to ensure that You are connected to the internet at the time of making any transaction. UPI is one of the payment options available to You on various merchant platforms, We assume no responsibility for the products / services purchased using the UPI Payment Services provided by Moneyview and any liability thereof is expressly disclaimed. You also acknowledge and agree that UPI transactions are subject to minimum and maximum transaction limits that may be set by Moneyview, You, PSP Bank, other payment participants or as may be prescribed under the provisions of applicable laws. Further, Moneyview, the PSP Bank or other payment participants may also reject/suspend transactions (in whole or in part) based on their respective policies and assessment. You may review Your transaction records within the Platform under the ‘transaction history’ section. You are solely responsible to review all transactions initiated through Your User Account. from time to time, and in case You identify any error or unauthorised transaction, You are requested to notify the same as per the notified Dispute Redressal Mechanism, set out below. 

5. Charges 

Moneyview 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. . 

6. Transaction Monitoring

Moneyview may review Your activity and transactions on the Platform for identifying high risk transactions. Moneyview may also engage third party service providers to assist it in these efforts. In case the transactions processed by You or any other activity that We believe may be suspicious or unusual, We may temporarily or permanently suspend Your access to the UPI Payment Services on the Platform. Your transaction may be rejected due to reason not limited to risk management, suspicion of fraudulent, illegal transactions, buying/selling of prohibited items, use of compromised or blacklisted cards or UPI accounts, chargebacks/complaints or for other reasons as prescribed under applicable laws. We may further investigate and may suspend or terminate Your User Account, report the transaction and Your account details to legal enforcement agencies or other regulatory authorities as applicable or notified under applicable law. 

7. User’s Responsibilities and Obligations

While You register and transact on the Platform, You hereby agree and undertake to the following: 

1. You are responsible for registering Your correct mobile number on the Platform which will be used to verify and add Your Source Account. Therefore, the mobile number registered with Moneyview should also be linked to the bank account You want to operate as Your Source Account for the purposes of the UPI Payment Services. 

2. If You change Your mobile number from Your Source Account, You will need to register on the Platform using the updated mobile number and the UPI Payment Services will be stopped on the number which is no longer linked to Your Source Account. 

3. You are solely responsible for the confidentiality of any OTP, PIN, Passcode, etc. used on the Platform. Any unauthorized usage arising due to You sharing such confidential information will not be the responsibility of Moneyview.

4. You are solely responsible for entering the correct details of the receiver of whom You want to send money to. These may include (but not limited to) correct VPA, Mobile number, UPI Number, QR code, Bank Details, etc. In addition to this, You are also solely responsible for any payment request You make to any other person/entity using the Platform. 

5. You are responsible for maintaining sufficient balance on Your Source Account to avoid any transaction failures or subsequent charges levied by Your bank. 

6. You understand that Moneyview will onboard You to UPI Central Mapper which is a Numeric UPI ID Mapper which will enable You to send or receive funds using a Numeric ID (Your mobile number) thus created by You on the Moneyview app as per the guidelines prescribed by NPCI. You further agree that Moneyview will not check NPCI Mapper when a Moneyview registered sends an amount to Your Moneyview linked mobile number and will process the transaction to Your Source Account .

7. You understand that the roles and responsibilities of NPCI, PSP, and TPAP are defined by NPCI and can be accessed using this link.

8. Refunds and Chargebacks 

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, Moneyview 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. 

9. Disputes and Grievances

Moneyview has adequate grievances / complaints resolution mechanisms for addressing the grievances and / or complaints on the Platform. Moneyview will be the first point of contact for all UPI Payment Services – 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 Your Source 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 understand that the payment transaction using the UPI Payment Services is between You and the recipient of funds. Moneyview does not provide any guarantees or warranties with respect to any User, third party or any service, good or delivery level commitment provided by such User or third party. You should ensure that You have undertaken adequate due diligence prior to transferring payments to anyone using the UPI Payment Services. In no event shall Moneyview be a party to any dispute between You and the recipient of funds. 

You can raise a complaint with respect to the UPI Payment Services in relation to a particular transaction. You can select the relevant UPI transaction and raise a complaint in relation thereto. You can raise a complaint with Moneyview with respect to all UPI Payment Services-related grievances if the UPI transaction is made through the Platform. You can raise a complaint for both the types of transactions i.e., fund transfer to merchants and peer-to-peer fund transfers. You may raise such complaints by contacting Moneyview at care@moneyview.in. The status of Your compliant/grievance shall be communicated to You on the Platform or any other means such as e-mail, telephone, etc. from time to time. Notwithstanding anything to the contrary in these UPI Terms, the Company or the PSP Bank shall not be liable for any completed peer-to-peer fund transfers.  

You may access the grievance redressal mechanisms of the following entities below: 

10. Disclaimers 

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, Moneyview disclaims all warranties and conditions, whether express or implied, of title, of merchantability, fitness for a particular purpose, or non-infringement. You agree that Moneyview, 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 Moneyview 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. Moneyview 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. Moneyview 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. 

Moneyview endeavours to execute and process transactions as per the defined process, however, Moneyview 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. 

Moneyview 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, Moneyview 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 Moneyview’ s control.