Platform Terms of Use
- About Skydo
- Skydo Technologies Private Limited is a company incorporated under the laws of India with company registration number U72501KA2022PTC158593 (“Skydo”) with its registered office at Third Floor, No.581, 1st Main HSR Layout 6th Sector, Bangalore South, Karnataka-560102. The Services or any services provided by Skydo through the Website and the Platform, shall be governed by these terms & conditions (“Terms & Conditions” or “Terms”).
- Skydo provides a platform available at https://www.skydo.com/ (“Platform”) which facilitates the User to process payments from Customers as set out in these Terms & Conditions. Specifically, Skydo is duly authorized under the RBI’s Circular on “Processing and settlement of import and export related payments facilitated by Online Payment Gateway Service Providers” dated 24 September 2024 and the RBI’s Circular on “Regulation of Payment Aggregator – Cross Border (PA - Cross Border)” dated 31 October 2023 (“PACB Guidelines”) for providing payment collection for Indian exporters.
- Definitions
Capitalized terms, not defined elsewhere in these Terms & Conditions, shall mean as follows:
“Affiliate” in relation to Skydo, means any entity, (i) in which Skydo together with persons acting in concert has control over such entity, (ii) which entity with persons acting in concert with such entity has control over Skydo, and (iii) which is under the control of the persons and entities (together with persons acting in concert) who control Skydo, where “control” means the power, direct or indirect, to direct or cause the direction of the management and policies of such entity whether by contract or otherwise, ownership of the majority ownership rights or voting rights in such entity, or the right to appoint the majority of the board of directors or other governing body of such entity;
“Applicable Laws” means all applicable (i) statutes, enactments, acts of legislature or parliament, laws, bye-laws, ordinances, rules, regulations, listing agreements, notifications, guidelines or policies of any applicable jurisdiction; (ii) administrative interpretation, writ, injunction, directions, directives, judgment, arbitral award, decree, orders or consents of, or agreements with, any Governmental Authority or a recognized stock exchange; and (iii) international tax treaties, as may be in force from time to time;
“Customers” means a customer of the User who has entered into a transaction with the User;
“Governmental Authority” means any Indian or non-Indian court of competence, arbitral tribunal, legislative, executive or administrative agency or commission or other governmental or regulatory agency or authority or any securities exchange, and shall include, without limitation the RBI and any Partner Banks;
“Facility Provider” means payment aggregators, payment processors and other entities with whom Skydo has entered into arrangements for providing payment processing services for the Services;
“Fees” means the fee payable for the use of the Platform and the Services, as specified by Skydo from time to time;
“Intellectual Property Rights” means all patents, trademarks, trade names, service marks, service names, logos, internet domain names, corporate names, rights in designs, copyright (including right in computer software) and moral rights, database rights, semiconductor topography rights, utility models, formulae, processes, trade secrets, proprietary information, rights in knowhow and other intellectual property rights, in each case, whether registered or not and including applications for registration, and all rights or forms of protection having equivalent or similar effect anywhere in the world;
“Partner Bank” mean a bank partnered with Skydo to facilitate Skydo in providing Services;
“Person” shall mean any natural person, limited or unlimited liability company, corporation, partnership (whether limited or unlimited), proprietorship, Hindu undivided family, trust, union, association, government or any agency or political subdivision thereof or any other entity that may be treated as a person under Applicable Law;
“Platform” shall mean a platform that is used to provide Services;
“Privacy Policy” means the policy document of Skydo available at https://www.skydo.com/privacy-policy which sets out the terms on which Skydo process any personal data that Skydo collects from the User, or that the User provides to Skydo;
“Prohibited Transactions” shall mean the transactions listed out in the Annexure;
“RBI” means the Reserve Bank of India;
“Refund Policy” means the policy document of Skydo available at https://www.skydo.com/refund-policy which sets out the guidelines and conditions under which refunds are processed by Skydo;
“Services” means the service provided by Skydo which facilitates the processing of payments to Users from Customers, as provided by Skydo;
“User” means the Person or entity using the Website, the Platform and/or procuring the Services from the Skydo and, where such User is acting on behalf of, or under the authority of, a company, partnership, trust or any other legal entity, it shall also include such company, partnership, trust or any other legal entity; and
“Website” means the website operated by Skydo.
- Terms and conditions
- Skydo offers the Website, any application, Platform and any services conditioned upon the User’s acceptance of these Terms & Conditions. These Terms & Conditions apply to all users of the Website, Platform and any services provided by Skydo, except as may be specifically agreed otherwise in writing. Any new product or services provided by Skydo, or any new features or tools which are added to the application, website or platform shall, unless specifically stated otherwise, be subject to these Terms & Conditions.
- The User agrees that the User shall be bound by these Terms & Conditions by accessing the Website, using the Platform, or by otherwise availing of the services from Skydo. If the User does not agree to all the Terms & Conditions, then the User may not access the Website, Platform or the use any products, applications or services provided by Skydo. If these Terms & Conditions are considered an offer, except as may be specifically agreed otherwise in writing, acceptance is expressly limited to these Terms & Conditions.
- By use of the Website, Platform and any services provided by Skydo, the User also agrees to be bound by the additional terms and conditions and policies referenced herein and/or available by hyperlink, including without limitation Skydo’s Privacy Policy, other policies of Skydo.
- Skydo may revise these Terms & Conditions at any time by amending this page. The User must check this page from time to time to take notice of any changes made to these Terms & Conditions, as they are binding on the User. Skydo reserves the right to update, change or replace any part of these Terms & Conditions by posting updates and/or changes to Skydo’s application, Website or Platform. It is the User’s responsibility to check this page periodically for changes. Following the posting of any changes, the User’s continued use of or access to the Website, application or Platform or the use of the product or services from Skydo, constitutes acceptance of such revised Terms & Conditions.
- Skydo may, without prior notice, change all or any features of the Platform; add or remove functionalities or features; stop providing the Platform; or create usage limits for the Platform.
- Third-party links
Persons other than Skydo may provide services through the Platform. In addition, Skydo may provide links to the sites of such companies and may enable a User to communicate with such Persons. If a User transacts or deals with any other User or such Person, the User is transacting or dealing directly with those third parties and not Skydo. Skydo is not responsible for examining or evaluating, and Skydo does not warrant, the offerings of, or the actions of any such Persons. Skydo does not assume any responsibility or liability for the actions, product, materials, items and content of all these and any other third parties and does not assume any liability for any misconduct of such persons. In case of any misconduct or improper behaviour of any such Person, the User is requested to report the same promptly to Skydo.
- Skydo’s Services
- General terms and conditions
- The User agrees and accepts that Skydo is not involved in any transactions between the Customer and the User and the User shall be solely responsible for the same. The User shall not use the Services for any Prohibited Transactions or transactions in violation of these Terms. The User shall not make Skydo, the Partner Banks or the Facility Providers a party to any dispute involving any transactions between the Customer and the User and shall defend, indemnify and hold harmless Skydo, Partner Bank and the Facility Providers and their respective agents, employees, officers, directors and affiliates from the same.
- The User may use the Services solely for bona fide transactions between the Customer and shall not use the Services or effect any transactions which are contrary to Applicable Laws, including the foreign trade policy of the Government of India.
- Skydo, the Partner Banks and the Facility Providers may suspend the User’s access to the Services or any funds paid to the User through the Services in case Skydo, the Partner Banks or the Facility Providers suspect any illegal, unlawful or fraudulent activity. The User’s access may also further be suspended if so directed by any government or regulatory body. Skydo reserves the right to reject or limit payments for reasons related to compliance with anti-money laundering regulations or Skydo’s risk management policies where Skydo has justified reasons relating to the security of the Service or the suspicion of unauthorized or fraudulent use of it.
- The User shall maintain all proofs and evidence related to any transactions between the Customer and the User and shall provide them to Skydo immediately on demand. In case the User fails to provide relevant proofs and evidence, Skydo may immediately suspend or cancel the relevant Services. Such information may include invoices for any transactions between the Customer and the User, and payment confirmation from the Customer. Skydo may request such additional information to enable Skydo to comply with any Applicable Law. Failure to provide such requested information may result in Skydo denying User’s use of the Services. All information provided by the User to Skydo must be accurate and complete. If Skydo cannot verify that this information is accurate, Skydo may deny, terminate or suspend User’s use of the Service, or any part thereof.
- Skydo, the Partner Banks and the Facility Providers will not be liable for any foreign exchange fluctuations or changes. Skydo and the Partner Banks reserve the right to deduct amounts owed to them.
- The User is not, and shall not be on any RBI’s exporter’s caution list, wilful defaulter, is compliant with Applicable Laws and is not restricted from otherwise availing the Services. In case Skydo, the Partner Banks and/or the Facility Providers discovers that the User is restricted under Applicable Laws from availing the Services, Skydo, the Partner Banks and/or the Facility Providers may immediately suspend the access the Services, terminate any transactions and withhold settlement of any amounts. The User will further defend, indemnify and hold harmless Skydo, Partner Bank, the Facility Providers and their respective, agents, employees, officers, directors and affiliates from the same.
- Export transaction collection payments
- Subject to the Terms & Conditions, a User will be entitled to use the Services to receive payments from its Customers located outside India (or other jurisdictions as permitted under the PACB Guidelines) into the bank account of a User for export of goods, services and software from India by the User to Customers as permitted under the PACB Guidelines (“Export Transactions”). The payments from Customers for an Export Transaction may be effected by: (i) direct transfer by the Customer to User’s unique account specified by Skydo, or (ii) by payment on the payment link generated by the User utilizing the Services.
- The User confirms that Skydo is not the User’s agent or trustee for the purpose of carrying out the sale of products or services provided by the User in an Export Transaction and Skydo does not have control of, or liability for, the products or services. Skydo does not guarantee or ensure that a Customer, buyer will complete a transaction and Skydo makes no representation or warranty as to any products and services provided by the User or delivery thereof.
- By accepting these Terms & Conditions, the User authorizes Skydo and its Affiliates to act as an agent of the User, as necessary, for the collection of payments from Customers for Export Transaction in connection with the Services. The User agrees and accepts that Skydo and its Affiliates shall be acting as an agent for the User for the limited purposes of collection of payments from Customers for Export Transactions and the User shall indemnify, defend and hold harmless Skydo from any claims, losses, demands, damages and amounts suffered or incurred by Skydo, Partner Banks, Facility Providers, and their respective employees, agents, officers, directors and shareholders from any breach of Applicable Laws by the User or the Customer, the actions or omissions of the User or the Customer, any fraud or negligence of the User or the Customer. The User confirms and accepts that Skydo shall be entitled to appoint sub-agents, processors and service providers for the provision of the Services.
- Without prejudice to the foregoing, subject to the other provisions in these Terms & Conditions, the User agrees that in connection with the collection of any payments in SGD for Export Transactions with Customers located in Singapore, the User appoints Skydo Payments Pte. Ltd. (“Skydo Singapore”) as the User’s collection agent. The User agrees that Skydo Singapore is authorized to collect funds into its bank account on behalf of the User, from Customers in Singapore for Export Transactions, and to settle the same into the User’s bank account registered with Skydo.
- The Services for Export Transactions are payment services and are not a credit, charge or debit card and are not a bank account nor do they offer the features and benefits of a traditional bank account. The funds held in connection with Skydo do not constitute deposits and do not earn any interest.
- The User shall use the Services only for undisputed amounts that a Customer owes to the User in connection with an Export Transaction and that are due for payment. In case the User uses the Services to generate a payment request to a Customer, including regarding the payment to be made to the User, the User shall be responsible for the correctness of the same. The User should not use the Service more than once for the same payment or same Export Transaction. The Services cannot be used as a debt collection or enforcement tool.
- The Services are currently available in certain currencies only and the User may generate or receive requests for payments in the specified currencies. Skydo reserves the right to limit the number of requests or receipts that may be made by a User a day, from same Customer, all Customers, or the total amounts. Skydo does not guarantee the availability of Service at all times and may make changes to or discontinue all or any part of the Services at any time.
- Payments sent by the Customers that are not approved in the manner prescribed by Skydo will be declined and returned to the Customer. Any costs and expenses associated with declined payments shall be borne by the User or the Customer, as applicable. If a payment is rejected, fees may be charged by the bank or other provider sending the payment and the User shall be responsible for such fees incurred in connection with the payment that was rejected.
- Collection of any payments in relation to Export Transactions, will be subject to the limits specified under Applicable Laws). Any payments collected from the Customers shall be subject to the terms and conditions specified by the offshore partners of Skydo.
- Following the receipt of a payment from a customer for an Export Transaction, Skydo will provide the User with the following information: (i) a transaction reference number that is unique to the payment; (ii) the amount of the transaction in the transaction currency; (iii) the charges or fees which have been paid or are to be paid, together with a breakdown where applicable; and (iv) the credit value date of the payment transaction.
- Skydo shall make commercial reasonable efforts to ensure that the payments made to a User by the Customer for Export Transactions will be credited to User within 7 (seven) business days of the Customer’s payment being credited to Skydo. Please note that the credit and timelines would also depend on processing and receipt of payments by payment processors engaged by Skydo for the provision of the Services as well as any hindrances or limitations reasonably encountered by Skydo in crediting any payments.
- If Skydo is required to make any payment to a Customer on account of any refund or chargeback, Skydo may attempt to reverse the payment and may debit the balance in the User’s account for the reversed payment as well as any applicable fees imposed by the issuer of Customer’s credit or debit card or third party stored value acquirer. Refunds shall only be processed to the original source account from which the payment was made by the Customer, subject to Refund Policy. If the transferred funds are no longer available in the User’s account for the reversal and Skydo is required to make such payment to the Customer, the User agrees to pay Skydo promptly for any missing funds as well as the cost of any applicable fees actually incurred by Skydo, the Partner Banks and Facility Providers in connection with refunds as aforesaid. The User shall bear all charges in connection with refund or chargeback and the User agrees that any fees and charges will be non-refundable. The User agrees that Skydo may set off any amount owed by the User to Skydo, the Facility Providers or Partner Bankes from any other amounts of the User held with Skydo, as determined by Skydo in its sole discretion.
- General terms and conditions
- Eligibility
- By agreeing to these Terms & Conditions, a User (which such User is a natural Person) represents that the User is at least the age of majority i.e. 18 years, and is competent to contract. Additionally, where the User is registering on behalf of, and is the authorized representative of, a company, partnership or any other legal entity, such User has been duly authorized by such entity and is permitted under Applicable Laws to accept these Terms & Conditions. The User represents and warrants that the User has the full power and authority to accept the Terms & Conditions, access the Platform and use the Services provided by Skydo, under these Terms & Conditions and that these Terms & Conditions are binding upon the User and enforceable in accordance with their terms. Where the Services are availed by a company, partnership or any other legal entity, the User represents and warrants that the entity has the full power and authority to accept the Terms & Conditions and such Terms & Conditions shall bind such company, partnership or any other legal entity, as applicable.
- In case a User is accessing the Website or the Platform as a representative of and on behalf of a legal entity or organisation, (i) the User represents and warrants that the User has the full authority to represent the legal entity and have power to bind such entity; and (ii) User understands that the Privacy Policy, upon acceptance by the User, is applicable to and binds all other persons accessing or using the Platform and the Services on behalf of the same legal entity or organisation for this purpose.
- In case Skydo alters or amends the eligibility criteria to be registered for accessing the Platform, the Website or receiving services of Skydo and the User no longer complies with the new eligibility criteria, as determined by Skydo in its sole discretion, the User accepts that Skydo may restrict or suspend the access to the Platform, the Website or receiving services of Skydo without any liability for Skydo. The User is solely responsible for ensuring that the User are in compliance with these Terms & Conditions.
- The User shall ensure that there are proper encryption and security measures at its respective desktop, mobile device or other device used to access the Platform and Website to prevent any hacking and the User accepts all liabilities with respect to any compromise or unauthorized use or disclosure or access to such information.
- The User may not use the Services provided by Skydo, the Platform or the Website for any illegal or unauthorised purpose nor may the User, in the use of the Platform or Website, violate any Applicable Laws (including but not limited to copyright laws). Skydo reserves the right to refuse or discontinue any services provided by Skydo or the Platform to anyone for any reason at any time.
- Registration, maintenance and security of account
- In order to avail the Services of Skydo, the User must be registered on the Platform. The User shall provide Skydo all such documents as may be required by Skydo for identity verification of the User as required under the Applicable Law.
- By registering with Skydo, User agrees to provide true, accurate, current and complete information, failing which Skydo may at any time reject User's registration and terminate his right to use or access the Platform and Services. When User registers on the Platform, a User Account will be created, that is associated with User's user name, password and other identifying information. User shall be responsible for anything that happens through his User Account.
- The User expressly undertakes to keep his/her account information, which includes but not limited to his primary email address, contact number, bank account number, communication address, ownership or legal status current and valid and in case of any change in information provided, update his account immediately.
- In the event of any action/notice by any law enforcement agency or conviction by a court of law, the User shall undertake to forthwith without any delay inform Skydo about the same and keep Skydo updated.
- Skydo strictly prohibits using the Services while impersonating any person or entity or falsely claiming an affiliation with any person or entity. The Services are intended to enable payments for business-related and commercial activities and are not intended for personal or person-to-person use. Skydo shall block any and all payments initiated for personal reasons. By using the Services, User also confirm that he shall not accept payments in connection with any Prohibited Transactions.
- User must ensure that User’s information on record with Skydo is always accurate and up to date and Skydo shall not be liable for any loss arising out of User’s failure to do so. Skydo may ask the User at any time to confirm the accuracy of User’s information or to provide documents or other evidence verifying such information.
- Skydo may contact User with information or notices regarding User’s use of the Services. It shall be User’s responsibility to regularly check its account on the Website, e-mail account or other methods of communication that User have registered with Skydo and to promptly retrieve and read messages relating to User’s use of the Services. Skydo will not be responsible for User’s inability to use the Services as a result of any failure to submit to, or notify Skydo of a change in, User’s contact details in accordance with these Terms & Conditions.
- Information regarding payments received, payments sent, purchases made, withdrawals and other Services activity are displayed in the online transactions history under User’s account on the Platform, together with the fees charged. Each transaction is shown in the transaction history. User should check their balance and transaction history regularly. User must report any irregularities or clarify any questions he has as soon as possible by contacting Skydo’s customer care.
- If for a period of 6 (six) consecutive months no usage or activities have taken place on User’s account or if User have maintained a zero balance, Skydo may consider such User to be “Inactive”. If an account remains inactive for an additional 12 (twelve) months, such User shall be considered as a “Dormant”. Once a User has been deemed dormant, Skydo may disable certain features and services, up to and including terminating User’s use of the Services. If a User is deemed dormant, User may request Skydo to reactivate the account at any time and Skydo may reactivate such account subject to the re-KYC and re-verification of the User, as specified by Skydo.
- User shall be responsible for maintaining the confidentiality of the account information and is fully responsible for all activities that occur under such account. User agrees to (a) immediately notify Skydo of any unauthorized use of his account information or any other breach of security, and (b) ensure that the User logs out from his account at the end of each session. Skydo shall not be liable for any loss or damage arising from User’s failure to comply with this provision. User may be held liable for losses incurred by Skydo or any other user of or visitor to the Platform due to authorized access or unauthorized use of User’s account as a result of User’s failure in keeping his account information secure and confidential.
- User is prohibited from selling, trading, or otherwise transferring his account to another party.
- User hereby acknowledges and agrees that the deletion of the application or Platform from the device does not constitute termination of his account and agrees to undertake the process detailed herein in order to complete the de-registration of his account (“De-registration”). If and when User is desirous of De-registering the account, immediately upon receiving User’s written request to that effect, Skydo shall remove and/delete all such information. However, Skydo may retain certain information regarding the User, even after receiving such deletion request, where such retention is required under Applicable Laws. User hereby acknowledges that the removal of his details from the Platform does not constitute termination of his outstanding obligations, if any, to Skydo.
- KYC Process
- At the time of registration of the User on the Platform, Skydo shall endeavor to accurately identify and verify User’s identity (or where such User is acting on behalf of any legal entity, the identity and details of such entity) and carry out appropriate customer due diligence. User may also have to provide the information and documents as prescribed under the Skydo’s know your customer policy and requirements, Applicable Laws and these Terms & Conditions for know your customer purposes, including but not limited to the provisions of the RBI Regulation of Payment Aggregator – Cross Border dated 31 October 2023, RBI Guidelines on Regulation of Payment Aggregators and Payment Gateways dated March 17 2020, Payment and Settlement Systems Act, 2007, Prevention of Money Laundering Act, 2002 and the Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016 (“KYC”), either at the time of opening of the account or undertaking certain transactions or periodically. Skydo shall collect, store and process the information provided to it for KYC purposes as per Applicable Laws and Privacy Policy at all times.
- User agrees that the User shall provide all documents, details and other information, as specified by Skydo to carry out the KYC of the User (or where such User is acting on behalf of any legal entity, the entity) including carry out any video KYC process as instructed by Skydo. Unless the KYC is completed to the satisfaction of Skydo, Skydo is not obligated to provide any Services. Any determination by Skydo in this regard shall be final and binding on the User.
- The User consents to any virtual customer identification process instituted by Skydo, including without limitation, the recording of video, capture photos, verification of the User’s location, verification of documents presented during such process and all other matters as may be reasonably required for carrying out such virtual customer identification process. In case Skydo cannot carry out such customer identification process to its satisfaction, the User may not be able to access the Services.
- User warrants and represents to Skydo that all information and documents provided by such User for the purpose of KYC are true, correct and up to date. This shall be material for the User to access and avail Services on the Platform. Skydo may verify the User’s identity for KYC purposes either by itself or through third parties that have partnered with Skydo for this purpose. Further, Skydo may also use / deploy various software and/or technology or other means, either directly or through external service providers / vendors to establish and verify User’s identity and/or the documents /information provided by such User. User hereby consents to any such identity verification and KYC checks.
- Skydo shall also share, use and retain User’s information and documents, to report any and all suspicious transactions to any Governmental Authority and/or to comply with the requests or requisitions made by any such Governmental Authority. Skydo may also require the User to provide any additional information or documents requested by such Governmental Authority. Skydo shall also use such information / documents to conduct internal enquiries as per its Terms & Conditions and may report the findings of such enquiry to any Governmental Authority.
- User shall not be allowed to register on the Platform and open an account without providing the necessary documents as detailed in these Terms & Conditions and/or the Privacy Policy. Skydo may, in its sole discretion, terminate existing accounts after giving due notice, or refuse to process any transactions, or require re-verification of User if it is unable to ensure compliance with the customer due diligence process as required under Applicable Law, either due to non- cooperation by such User or due to the details provided by User being inadequate, unreliable or incorrect, the User (or its beneficial owners) being enlisted on any sanction list or being politically exposed persons or the User is otherwise restricted from availing the Services.
- User agrees to provide any additional information sought by Skydo in the course of the enquiry conducted by Skydo and/or upon the request of any Governmental Authority. In case the User fails to provide any additional information as required by Skydo, Skydo may suspend or terminate the access to the Services.
- Skydo may examine the ownership and financial position, including sources of funds of the User, and in some cases, User’s affiliates, and the User shall provide assistance and cooperation in this regard. If the User fails/ refuses to comply with the requirements provided herein, Skydo reserves the right to deactivate, suspend or terminate the User’s Account as according to the Terms.
- In case Skydo determines that the User has attempted to open multiple accounts, fraudulently avail the Services, committed or attempted to commit any acts which violate Applicable Laws, without prejudice to the other rights of Skydo, Skydo may report such Users to relevant Governmental Authorities.
- Prohibited Transaction
- User shall not use the Platform, Services or website for any illegal, fraudulent or other prohibited activity or any Prohibited Transactions. If Skydo, the Partner Banks or Facility Providers suspects that User may be engaging in or have engaged in a Prohibited Transaction, and Conditions, User’s access to the Services, Platform and Website may be suspended or terminated. Additionally, Skydo will report such Prohibited Transactions with a Governmental Authority in accordance with applicable laws. User is prohibited from using the Services in any attempt to abuse, exploit or circumvent any Applicable Law.
- To the extent any payments received by the User are restricted under Applicable Laws, it is strictly User’s responsibility to verify User’s relationship with the Customer. Skydo may at any time request the User to provide Skydo with documentation or other evidence reflecting the nature of User’s relations with Customer. User is solely responsible for reporting to all Governmental Authority with regard to such payments and for the payment of any applicable taxes that apply to such payments, as well as compliance with applicable reporting requirements, including but not limited to, any customs or foreign currency controls.
- User may not use the Services if such User is residing, working or conducting business in any country restricted by Governmental Authority or as specified by Skydo from time to time in its sole discretion.
- Skydo reserves the right to suspend or terminate User’s use of the Services (including access to funds) at any time if Skydo reasonably believes to be required to do so by Applicable Law or in order to comply with recommendations issued by a Governmental Authority for the prevention of financial crime.
- If User conducts or attempts to conduct any transaction in violation of the prohibitions contained in this provision or without the necessary approval from Skydo, Skydo reserves the right to (i) reverse the transaction; (ii) terminate or suspend use of the Services for such User; (iii) report the transaction to the Governmental Authority; and (iv) claim damages from such User, provided however suspension of the Services shall be only made where Skydo have objectively identified reasons relating to the security of any Service, or the suspicion of unauthorized or fraudulent use of any Service.
- User Obligations
- Every User is responsible to furnish correct and accurate information of the User as may be required.
- User shall act in compliance with all Applicable Laws, rules and regulations and shall at all times comply with the guidelines set by Bank Partner, as may be applicable from time to time.
- User shall bear and be solely and exclusively responsible for the payment of all relevant & applicable taxes (including any applicable withholding taxes) as may be due from time to time. The User shall be responsible for duly filing all tax returns in connection with the Services.
- The User is solely responsible for protecting the confidentiality of its own username and password and any activity under the account will be deemed to have been done by the User.
- A User shall inform Skydo of any change in his email address, mobile number, address, ownership or legal status or his cessation of business in writing forthwith on such change.
- User shall not use the Services or the Platform in any manner that could damage, disable, overburden, or impair it, including, without limitation, using the Services or the Platform in an automated manner or otherwise.
- User shall not hold Skydo liable in case of any improper/ fraudulent/unauthorized/ duplicate/erroneous use of his/her mobile and/or the web-based access or through any other platform due to loss or theft of his mobile or cloning of his/her mobile or for any other reason whatsoever.
- The User shall be responsible for compliance with all Applicable Laws in relation to a transaction.
- The User shall not hold Skydo, the Partner Banks, the Facility Providers or their agents liable or responsible in any manner whatsoever in connection with any underlying transactions executed between the User and the Customers.
- Third-party applications
- User may connect his account to any third party application if the same is approved by and made available for connection to Skydo (“Third Party Business Application”). Connecting the account to a Third Party Business Application may allow the User to utilize different functions of his account from such Third Party Business Application including view information relating to the account from within a Third Party Business Application, sending payment requests, initiating withdrawals, and any other actions relating to his account from within a Third Party Business Application, in each case as made available by Skydo and such Third Party Business Application from time to time.
- By connecting the account to a Third Party Business Application User agrees and confirm that the Third Party Business Application is authorized to send requests for payment to Customer and receive payment status notifications on behalf of the User in connection with payment requests and/or to the extent approved perform other actions initiated by User from within the Third Party Business Application;
- In addition, User agrees and acknowledges that when his account is connected to a Third Party Business Application, all information and data relating to actions initiated from the Third Party Business Application shall be shared with and/or disclosed to such Third Party Business Application. This includes (but is not limited to) data and information relating to payments a User receives in response to a payment request initiated from the Third-Party Business Application platform. If the User has connected his account with a Third Party Business Application (such as an ERP system), to enable viewing of and/or access to information of his account from and/or by of said Third Party Business Application, all applicable information relating to his account shall be shared with such platform.
- User may disable and/or reactivate his election to connect a Third Party Business Application at any time from the Platform. User may view information relating to the Third Party Business Application from the Platform including the charges and fees applicable to payments received via the Third Party Business Applications connected to the account.
- Skydo is not responsible for any services User receives or actions User perform on the Third Party Business Application. User’s registration with or use of the services of the Third Party Business Application shall be at his own risk and responsibility, and nothing herein shall be construed as solicitation to register for or use the services of any Third Party Business Application.
- Payment of Fees
- The User agrees and undertakes to pay the Fee for the use of the Services of Skydo, as specified by Skydo. Skydo may debit the Fee payable to Skydo at the time of delivery of any Services to the User, in case Skydo is unable to debit the Fees, Skydo may not deliver the Services or process any payments to the User. In case Skydo is unable to debit such Fees, the User shall, promptly on demand by Skydo, make payment of such Fees.
- All pricing and fees are set forth in the Fees page under the User’s account and are subject to change in Skydo’s sole discretion upon notice to the User or a relevant update in the page / account. A User’s your continued use of the Services indicates a User’s continued acceptance of any change in the Fees.
- The User’s use of the Services may be subject to currency conversions. If the User’s transaction involves a currency conversion it will be completed at a retail foreign exchange rate determined by Skydo or its Partner Banks. Skydo and the Partner Banks do not guarantee or assure that any conversion will be effected at the most favourable exchange rates or at a precise point in time.
- Restrictions on the use of the Platform and the Website
- The User shall not redistribute, sublicense, rent, publish, sell, assign, lease, market, transfer, or otherwise make the Platform, the Website or any component or content thereof, available to any third parties prior the prior written consent of Skydo.
- The User shall not circumvent or disable any digital rights management, usage rules, or other security features of Platform or the Website; remove, alter, or obscure any proprietary notices (including copyright notices) on any portion of the Platform or the Website; and not use the Platform in a manner that threatens the integrity, performance, or availability of the Platform or the Website.
- Without limiting the foregoing, the User agrees that the User shall not use the Platform, the Website or the Services to undertake any of the following actions or to display, upload, modify, publish, distribute, disseminate, transmit, update or share any information that:
- that the User does not have a right to make available under any law or contractual or fiduciary relationship, unless the User owns or controls the rights thereto or have received all necessary consents for such use of the content;
- is defamatory, vulgar, obscene, pornographic, paedophilic, invasive of another person’s privacy, including bodily privacy, insulting or harassing on the basis of gender, libellous, racially or ethnically objectionable, relating or encouraging money laundering or gambling, or otherwise inconsistent with or contrary to the laws in force;
- is harmful to minors and children;
- infringes patent, trademark, copyright or other proprietary rights or intellectual property rights of any person or entity;
- violates any Applicable Law, regulation or generally accepted practices or guidelines in India;
- deceives or misleads any other user of the Platform or the Website, Skydo or any other person the origin of any messages on the Platform or the Website or knowingly and intentionally communicates any information which is patently false or misleading in nature but may reasonably be perceived as a fact;
- impersonates any person or entity, or falsely state or otherwise misrepresent the User’s affiliation with a person or entity;
- threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign States, or public order, or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting other nation;
- contains viruses, trojan horses, worms, spyware, time bombs, cancelbots, or other computer programming routines, code, files or such other programs that may harm the Platform or the Website, interests or rights of other users or limit the functionality of any computer software, hardware or telecommunications, or that may harvest or collect any data or personal information about other Users without their consent; and
- is patently false and untrue, and is written or published in any form, with the intent to mislead or harass a person, entity or agency for financial gain or to cause any injury to any person.
- Without limiting the foregoing, the User agrees that the User shall not:
- decompile, reverse engineer, or disassemble the contents of the Platform or the Website or modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information or software obtained from the Platform or the Website, or remove any copyright, trademark registration, or other proprietary notices from the contents of the Platform or the Website;
- (i) use the Platform or the Website and any of the Skydo’s services for commercial purposes of any kind except as permitted, or (ii) advertise or sell the Platform or the Website or any services of Skydo or domain names or otherwise (whether or not for profit), or solicit others (including, without limitation, solicitations for contributions or donations) or use any public forum for commercial purposes of any kind, or (c) use the Platform, the Website or the services of Skydo in any way that is unlawful, or harms Skydo or any other person or entity as determined by Skydo;
- Engage in any activity which would interfere with any other person's use or enjoyment of the Platform, the Website or the services of Skydo including engage in disruptive attacks such as denial of service attack on the Platform, the Website or the services of the Skydo;
- Access or use the Platform, the Website or the services of Skydo in any manner that could damage, disable, overburden or impair any of the Platform and the Website’s servers or the networks;
- Disrupt or interfere with the security of, or otherwise cause harm to, the Platform, the Website or the services of Skydo, materials, systems resources, or gain unauthorized access to user accounts, passwords, servers or networks connected;
- Use deep-links, page-scrape, robot, spider or other automatic device, program, algorithm or methodology, or any similar or equivalent manual process, to increase traffic to the Platform, the Website or the services of Skydo, to access, acquire, copy or monitor any portion of the Platform, the Website or the services of Skydo, or in any way reproduce or circumvent the navigational structure or presentation of the Platform and the Website, or any content, to obtain or attempt to obtain any content, documents or information through any means not specifically made available through the Platform, the Website or the services of Skydo; and
- use the Platform, the Website or the services of Skydo for purposes that are not permitted by: (i) these Terms & Conditions; and (ii) any Applicable Law, regulation or generally accepted practices or guidelines in the relevant jurisdiction.
- The User shall not use the Platform, the Website or the services of Skydo for any purpose that might be construed as contrary or repugnant to any Applicable Law, regulation, guideline, judicial dicta, or public policy or for any purpose that might negatively prejudice the goodwill of Skydo, its partners or violate the Terms & Conditions.
- Skydo’s rights
- Skydo reserves the right to suspend/discontinue the access to the Website, Platform or the services of Skydo, terminate its relationship with the User including suspending the User, at any time, for any cause, including, but not limited, to the following:
- For any suspected violation of Applicable Laws or the terms and conditions mentioned in these Terms & Conditions;
- For any suspected discrepancy in the particular(s), documentation or information provided by the User;
- To combat potential fraud, sabotage, wilful destruction, threat to national security, for any other force majeure reasons etc.;
- If the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons;
- If the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;
- If the User does not have the control over the User’s login details and password or the User’s account is compromised in any other manner;
- If the User indulges in any abusive or aggressive or threatening behaviour or any act or any intimidation or harassment of any kind (be it verbal or physical or written) against any employee / representative / agent of Skydo or any other User; and
- If Skydo believes, in its reasonable opinion, that cessation/suspension is necessary.
- Skydo reserves the right to suspend/discontinue the access to the Website, Platform or the services of Skydo, terminate its relationship with the User including suspending the User, at any time, for any cause, including, but not limited, to the following:
- Accuracy of information
- Skydo is not responsible if information made available on the Platform or the Website (including any information in relation to the services of Skydo) is not accurate, complete or current. The material on the Website and the Platform is provided for general information only and should not be relied upon or used as the sole basis for making decisions without consulting, primary, more accurate, more complete or more timely sources of information.
- The Platform and the Website may contain certain historical information. Historical information, necessarily, is not current and is provided for the User’s reference only. Skydo reserves the right to modify the contents of the Platform and the Website at any time, but Skydo has no obligation to update any information on the Platform and the Website. The User agrees that it is the User’s responsibility to monitor changes to the Platform and the Website or any other information provided by Skydo.
- Warranties
No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, is given in conjunction with the Platform, the Website or the services of Skydo. While Skydo may apply such technology as it deems fit to ensure the security of and prevent unauthorised access to its products/services, Skydo does not warrant that products/services or any content/data will be provided uninterrupted or free from errors or that any identified defect will be immediately corrected. Further, no warranty is given that products/services or any data/content are free from any computer virus or other malicious, destructive or corrupting code, agent, program or macros. Skydo provides the Platform, the Website or the services of Skydo and other products/services an “as is”, “where is”, “with all faults” basis.
ALL OTHER WARRANTIES, WHETHER LEGAL, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY EXPRESS OR IMPLIED WARRANTIES OF MERCHANTABILITY, OF FITNESS FOR A PARTICULAR USAGE OR FOR THE INTENDED USE THEREOF ARE EXPRESSLY EXCLUDED IN CONNECTION WITH THE USE OF THE PLATFORM, THE WEBSITE OR THE SERVICES OF SKYDO.
- Exclusions of liability
Notwithstanding anything to the contrary, Skydo, the Partner Banks, the Facility Providers and their successors, agents, assigns, and each of their directors, officers, employees, associates, agents, and representatives shall in no event be liable to the User or any other Person for:
- any indirect, incidental, special, consequential, punitive or economic loss, expense or damage arising from or in connection with any access, use or the inability to access or use the Platform, the Website or the services of Skydo or reliance on those, howsoever caused and regardless of the form of action (including tort or strict liability);
- any downtime costs, loss of revenue or business opportunities, loss of profit, loss of anticipated savings or business, loss of data, loss of goodwill or loss of value of any equipment including software; and/or
- any loss or damage arising as a result of a disclosure/sharing or hacking of the User’s login details and password, and any improper usage, failure or malfunction of any computer or mobile phone, unavailability of an electricity connection, other telecommunications equipment, any other services or equipment necessary to access the Platform, the Website or the services of Skydo.
Skydo, the Partner Banks and the Facility Providers shall not be liable for any inconvenience, loss, cost, damage or injury suffered by the User or any third Person arising from or caused by:
- act or omission of any third party including but not limited to any participants, interviewers or any equipment or software providers, any service providers, any network providers (including but not limited to telecommunications providers, internet browser providers and internet access providers), or any agent or subcontractor of any of the foregoing; and
- theft or loss of the User’s computer, mobile phone, the User’s data, the User’s login details and password, hardware.
NOTWITHSTANDING ANYTHING TO THE CONTRARY, IN NO EVENT, SHALL SKYDO OR ANY OF ITS DIRECTORS, EMPLOYEES, AGENTS AND/OR PERSONNEL, BE LIABLE TO THE USER OR ANY PERSON FOR ANY DAMAGES, LIABILITIES, LOSSES, AND CAUSES OF ACTION ARISING OUT OF OR RELATING TO: (I) THESE TERMS & CONDITIONS, THE PLATFORM, THE WEBSITE OR THE SERVICES OF SKYDO, OR ANY REFERENCE SITE, APP, PRODUCTS OR SERVICES; OR (II) THE USER’S USE OR INABILITY TO USE THE WEBSITE, THE PLATFORM, OR OTHER PRODUCTS OR SERVICES OF SKYDO OR ANY REFERENCE SITE; OR (III) ANY OTHER INTERACTIONS WITH SKYDO; HOWEVER CAUSED AND WHETHER ARISING IN CONTRACT, TORT INCLUDING NEGLIGENCE, WARRANTY OR OTHERWISE, BEYOND OR IN EXCESS INR 10,000, OR ANY LOWER AMOUNT AS MAY BE PERMITTED UNDER APPLICABLE LAWS, WHICHEVER IS LESS.
- Skydo shall make all best efforts to provide uninterrupted services subject to down time and regular maintenance Notwithstanding anything in these Terms & Conditions, the User acknowledges that the Platform, the Website or the services of Skydo may not be uninterrupted or error free or free from any virus or other malicious, destructive or corrupting code, program or macro. Skydo shall adopt all such best technical and non-technical security measures that it considers are appropriate and are the same as that is prevalent in the industry, however Skydo does not guarantee that such security measures cannot be subverted to gain unauthorized access. In the event of interruption to the Platform, the Website or the services of Skydo or loss of use and/or access, Skydo shall use best endeavors to restore access as soon as reasonably possible.
- Skydo is not responsible for any information or content uploaded by any User on the Platform or the Website.
- Third party services
- Skydo provides the User with access to third-party tools and services and certain content, products and services available by Skydo may include materials from third-parties which Skydo neither monitor nor have any control over. Third-party links on the Platform or the Website may direct the User to third-party websites that are not affiliated with Skydo.
- The User acknowledges and agrees that Skydo provides access to such links, website, tools and services “as is” and “as available” without any warranties, representations or conditions of any kind and without any endorsement and Skydo does not warrant and will not have any liability or responsibility for any third-party materials or websites, or for any materials, products, or services of third-parties.
- Intellectual property
- All Intellectual Property Rights in the Platform, the Website or the services of Skydo belong to Skydo or the applicable third-party owner of such rights. Nothing in these Terms & Conditions shall operate to transfer any Intellectual Property Rights beyond the specific licenses, as may be specifically agreed in writing. Skydo retains ownership of all right, title to, and interest in any and all Intellectual Property Rights developed, owned, licensed or created by Skydo.
- No part or parts of the Platform or the Website may be reproduced, distributed, republished, displayed, broadcast, hyperlinked, transmitted, adapted, modified to create derivative works or otherwise commercially exploited in any manner or by any means or stored in an information retrieval system without Skydo’s prior written permission. The User may view, print or use Skydo’s content for personal, non-commercial use only, provided further that the User does not modify the content and that the User retains all copyright notices and other proprietary notices contained in the content.
- The User shall not claim any rights or interest in the Intellectual Property Rights of Skydo or its partners, or in connection with any other services, features or product offered by Skydo to the User. In no event shall the User alter, tamper, vary, modify, change, disassemble, decompile, or reverse engineer any Intellectual Property Rights of Skydo (including without limitation any Intellectual Property Rights licensed to Skydo by any other Person) (collectively, “IP Property”), or permit others to do so. Altering, tampering, varying, modifying, changing, disassembling, decompiling and reverse engineering include, without limitation:
- converting the IP Property from a machine-readable form into a human-readable form;
- disassembling or decompiling the IP Property by using any means or methods to translate machine-dependent or machine-independent object code into the original human-readable source code or any approximation thereof;
- examining the machine-readable object code that controls the IP Property’s operation and creating the original source code or any approximation thereof by, for example, studying the IP Property’s behaviour in response to a variety of inputs;
- performing any other activity related to the IP Property that could be construed to be reverse engineering, disassembling, or decompiling; or
- making any alteration or change to the IP Property without the express prior written consent of Skydo.
- Indemnification
The User agree to indemnify, defend and hold harmless Skydo, the Partner Banks, the Facility Providers and their respective parents, subsidiaries, affiliates, partners, officers, directors, agents, contractors, licensors, service providers, subcontractors, suppliers, interns and employees (“Indemnified Parties”), from all claims, demands, losses, costs, fees suffered or incurred by the Indemnified Parties due to or arising out of the User’s breach of these Terms & Conditions or the documents they incorporate by reference, or the User’s violation of any law or the rights of a third-party or any disputes with any Customers.
- Waiver
If Skydo does not exercise a right under these Terms & Conditions, shall not constitute a waiver of such right. Waiver of any right, remedy or breach of any subject matter contained in these Terms & Conditions shall not be viewed as a waiver by Skydo, unless specifically agreed by Skydo in writing.
- Force Majeure
For purposes of these Terms & Conditions, “Force Majeure Event” means any event or circumstance, regardless of whether it was foreseeable (including without limitation an act of war, hostility, or sabotage; act of God; electrical, internet or telecommunication outage that is not caused by the obligated party; government restrictions (including the denial or cancellation of any export or other license); criminal, revolutionary, or terrorist activity), that: (a) was not caused by a party and, (b) prevents that party from complying with any of its obligations pursuant to these Terms and Conditions (other than an obligation to pay money) or provision of the Platform or the Website. If a Force Majeure Event occurs, Skydo will be excused from performing those obligations rendered un-performable by the Force Majeure Event. During a Force Majeure Event, Skydo shall use reasonable efforts to limit damages to the User and to resume its performance pursuant to these Terms & Conditions.
- Relationship of the parties
The User agree that no joint venture, partnership, employment, or agency relationship exists between the User and Skydo as a result of these Terms, the User’s use of the Platform or the Website, or the availing of Services from Skydo.
- Assignment
The User shall not assign or transfer the rights and obligations if the User under these Terms, including any assignment or transfer by reason of merger, reorganization, sale of all or substantially all of its assets, change of control or operation of law, without Skydo’s prior written consent.
- Governing law and jurisdiction
- These Terms & Conditions will be governed by the laws of the India without any application of conflict of laws principles.
- In case of any differences, disputes or disagreements between the User and Skydo, the dispute shall be resolved by a sole arbitrator appointed by the mutual consent of the User and Skydo. The seat of arbitration shall be Bengaluru and the language of arbitration shall be English.
- Confidentiality
For the purposes of this Terms, the term “Confidential Information” shall mean and include all tangible and intangible information obtained, developed or disclosed or accessed including all documents, data papers and statements and trade secrets. In case the User comes into possession of any Confidential Information of Skydo, the User shall safeguard the same and shall not disclose such Confidential Information without the prior written consent of Skydo.
- Contact Information
- Any grievances in relation to the Website, Platform or the Services may be communicated by the User in accordance with Skydo’s Grievance Policy available at https://www.skydo.com/grievance-policy
- Skydo may give telephonic notice, email or otherwise message the User by calls, messages and emails to appropriate numbers, by messaging to the telephone number, or by an email to the email address of the User available on record with Skydo. Irrespective of User's registration with DND, or DNC or NPCR, User still authorises us to call, message or email. The User’s agree that in case there are any changes changes in any information provided by the User to Skydo, including the User’s phone number, e-mail address and other contact details, the User will be solely responsible to update them regularly. The User agrees that all agreements, notices, disclosures and other communications that Skydo provides to the User’s electronically satisfy any legal requirement that such communications be in writing. If Skydo sends any sends any communication by e-mail or message or to the User’s phone number, it shall be sent to the User’s e-mail address or phone number available on the records created by the User on the Platform and it shall be deemed to have been received by the User once it is reflected as sent for Skydo. Skydo shall not be under any obligation to confirm the authenticity of the person(s) receiving the alert. You cannot hold Skydo liable for non-availability of the SMS/email alert in any manner whatsoever.
- The SMS/e-mail alert provided by Skydo is an additional facility provided for the User’s convenience and that it may be susceptible to error, omission and/or inaccuracy. In the event that the User observes any error in the information provided in the alert, Skydo shall be immediately informed about the same by the User and Skydo will make best possible efforts to rectify the error as early as possible. In no event shall Skydo be liable for any losses, damages, expenses or other amounts in connection with any error, omissions or non-receipt of such messages or communications.
- Cumulative rights
The rights and remedies of Skydo provided in these Terms & Conditions are not exclusive, but are cumulative upon all other rights and remedies to the full extent allowed by law.
- Severability
If any part of these Terms & Conditions is found by a court of competent jurisdiction to be invalid, unlawful or unenforceable then such part shall be severed from the remainder of the Terms & Conditions, which shall continue to be valid and enforceable to the fullest extent permitted by law.
- Entire understanding
These Terms & Conditions constitute the entire agreement between Skydo and the User pertaining to the subject matter hereof and supersedes in their entirety all written or oral agreements between Skydo and the User.
Prohibited Transactions
- Adult Goods/Services: Adult goods and services which includes pornography and other sexually suggestive materials (including literature, imagery and other media); escort or prostitution services; Website access and/or Website memberships of pornography or illegal sites;
- Alcohol: Alcohol which includes alcohol or alcoholic beverages such as beer, liquor, wine, or champagne;
- Body Parts: Body parts which includes organs or other body parts including natural hair extensions;
- Bulk Marketing: Bulk marketing tools which includes email lists, software, or other products enabling unsolicited email messages (spam);
- Black Boxes: Cable descramblers and black boxes which includes devices intended to obtain cable and satellite signals for free;
- Child Pornography: Child pornography which includes pornographic materials involving minors;
- Copyright Circumvention: Copyright unlocking devices which includes Mod chips or other devices designed to circumvent copyright protection;
- Copyrighted Media: Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials; Products and services that infringe another party’s Intellectual property, copyright, patent, trademark, trade secret or any other proprietary rights
- Pirated Softwares: Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software;
- Counterfeit Goods: Counterfeit and unauthorized goods which includes replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods; Unauthorized sale of designer and/or brand products. Sale of illegally imported or exported goods
- Drug Paraphernalia: Drugs and drug paraphernalia which includes illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms;
- Drug Test Circumvention: Drug test circumvention aids which includes drug cleansing shakes, urine test additives, and related items;
- Endangered Species: Endangered species which includes plants, animals or other organisms (including product derivatives) in danger of extinction;
- Gambling: Gaming/gambling which includes lottery tickets, sports bets, memberships/ enrolment in online gambling sites, and related content;
- Fake Documents or Govt IDs: Government IDs or documents which includes fake IDs, passports, diplomas, and noble titles;
- Hacking Tools/Guides: Hacking and cracking materials which includes manuals, how-to guides, information, or equipment enabling illegal access to software, servers, website, or other protected property;
- Illegal Goods: Illegal goods which includes materials, products, or information promoting illegal goods or enabling illegal acts; Firms involved in the servicing of illegal goods/services including but not limited to counterfeit goods/trademark infringement, human trafficking, child labor, prostitution.
- Miracle Cures: Miracle cures which includes unsubstantiated cures, remedies or other items marketed as quick health fixes;
- Offensive Goods - I: Offensive goods which includes literature, products or other materials that: (a) Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors; (b) Encourage or incite violent acts; or (c) Promote intolerance or hatred
- Offensive Goods - II: Offensive goods, crime which includes crime scene photos or items, such as personal belongings, associated with criminals;
- Pyrotechnics: Pyrotechnic devices, combustibles, corrosives and hazardous materials which includes explosives and related goods; toxic, flammable, and radioactive materials and substances;
- Regulated Goods: Regulated goods which includes air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications;
- Securities/Bonds: Securities which includes government bonds or related financial products;
- Tobacco: Tobacco and cigarettes which includes cigarettes, cigars, chewing tobacco, and related products;
- Traffic Devices: Traffic devices which includes radar detectors/jammers, license plate covers, traffic signal changers, and related products;
- Weapons & Firearms: Weapons which includes firearms, ammunition, knives, brass knuckles, gun parts, and other armaments; Weapons (including weapons of historic significance), military software, or any other goods or services intended for military use; Weaponry, military and semi-military goods and services; Firearm related products
- Currency Exchanges: Wholesale currency which includes discounted currencies or currency exchanges;
- Animal Parts: Live animals or hides/skins/teeth, nails and other parts etc of animals;
- MLM, Ponzi: Multi-Level Marketing Entities; Multi-Level Marketing collection fees; pyramid or ponzi schemes; unreasonably high rewards schemes;
- Matrix Scemes: Matrix sites or sites using a matrix scheme approach;
- Non-compliant Products: Any product or service which is not in compliance with all applicable laws and regulations whether federal, state, local or international, including the laws of India;
- Ambiguous Business Activities: Businesses or website that operate within the scope of laws which are not absolutely clear or are ambiguous in nature (e.g. Web-based telephony, Website supplying medicines or controlled substances)
- Banned by Law: Businesses out rightly banned by law (e.g. Betting & Gambling/ publications or content that is likely to be interpreted by the authorities as leading to moral turpitude or decadence or incite caste/communal tensions, lotteries/sweepstakes & games of chance;
- Generic: If You deal in intangible goods/ services (e.g. Software download/ Health/ Beauty Products), and businesses involved in pyramid marketing schemes or get-rich-quick schemes and any other product or Service, which in the sole opinion of either the Partner Bank or the Acquiring Bank, is detrimental to the image and interests of either of them / both of them, as communicated by either of them/ both of them to You from time to time. This shall be without prejudice to any other terms & conditions mentioned in these Terms;
- Virtual Currencies/Tokens: Virtual currency, cryptocurrency and other crypto products (like non-fungible tokens or NFTs), prohibited investments for commercial gain or credits that can be monetized, re-sold or converted to physical or digital goods or services or otherwise exit the virtual world;
- Money Laundering Services: Money laundering services;
- Bidding: Bidding/Auction houses;
- TRAI Banned Activities: Activities prohibited by the Telecom Regulatory Authority of India (TRAI);
- Prohibited Activities: Any other activities prohibited by Applicable Laws;
- Chit Funds: Entities operating as chit funds/ nidhi companies (except government or public sector unit (PSU) entities);
- Unregulated MSBs: Unregulated/ unlicensed money service business (MSB) or money and value transfer services (MVTS) like exchange houses, remittance agents or individuals running such businesses in jurisdictions that require license for such businesses;
- Ponzi: Ponzi schemes, pyramid and chain marketing;
- Pawnbrokers: Pawnbrokers [MCC: 5933 - Pawn Shops];
- PEPs: Political organizations [MCC: 8651 - Organizations, Political];
- Precious Metals and Stones: Precious metals and stones, including diamond traders, Precious Watches and Jewellery;
- Luxury Goods Resale: Unauthorized re-sale of luxury goods - including watch traders;
- CBD Related Products: Cannabidiol and related products;
- Carbon Credits: Carbon credits, including carbon credits traders;
- Mining & Extraction: Mining and extraction;
- Scrap Metals: Scrap metal traders;
- Energy Traders: Energy traders;
- Speculative Trading: Speculative trading;
- Chemicals: Chemicals;
- Medical Devices: FDA classified medical devices;
- Prescription Drugs: Medications or prescription drugs;
- Dietary Supplements: Dietary supplements;
- Seeds or Plants: Seeds or plants, Florists Supplies, Nursery Stock, and Flowers;
- Layering: Financial Institutions making payments on behalf of other financial institutions, also known as ‘nested relationships’ or ‘layering.’;
- Shell Companies: Shell banks;
- NGOs: Charities, Section 8 Entities except: UNICEF, Prime Minister Relief fund, The International Red Cross. Any other registered and highly reputable charity only upon explicit approval by the Compliance Head / Risk and Compliance oversight committee, as the case may be.;
- FX Trading: Clients are not allowed to use our services to speculate changes in FX;
- Cash Transactions: Remittances funded in cash;
- Sanctions: Individuals, entities, or countries subject to international sanctions;
- Sanctions - Patriot Act: Section 311 of USA Patriot Act designated entities;
- Binary Options: Binary options;
Last updated on: 19 Sep 2024
Bengaluru, Karnataka
3rd floor, Incubex HSR 18, 581, 1st Main Rd,Sector 6, HSR Layout, Bengaluru, Karnataka 560102
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