PLEASE READ THESE TERMS AND CONDITIONS CAREFULLY. BY ACCESSING OR USING THE FAVE APPLICATION (“APP”) , YOU AGREE TO BE BOUND BY THE TERMS DESCRIBED HEREIN AND ALL TERMS INCORPORATED BY REFERENCE. IF YOU DO NOT AGREE TO ALL OF THESE TERMS, DO NOT USE THIS APP.
The App is owned and operated by Pine Labs Private Limited and/or its Hold Co, subsidiaries, affiliates and authorized service provider (hereinafter referred to as “Pine Labs” or “We” or “Our” or “Us” or “Company”).
1. Legal Relationship
Fave acts as a facilitator to assist Users in making cashless payment at select merchants. An independent relationship is established between Us and the User. All action which is performed through the App is directed by the User and is in no way, controlled by the Company (including all its subsidiaries, brands, related and/or associated companies/brands). All of the User’s funds will be held separately from Company funds at all times. All transactions or therefore, lack of transactions, will be decided by the User.The App and service only function by hosting, maintaining and facilitating transactions between Users and merchants via the internet.
We do not pose any authority and therefore will not be held responsible for any liability from using Our service. We act as a facilitator and do not guarantee that Users or merchants which are being dealt with will complete the transaction.
2. Purchases and Payment
The Company (including all its subsidiaries, brands, related and/or associated companies/brands), in the event of any loss or damages, will not be held liable regardless of the circumstance whether it be contract, tort, negligence, strict liability or other basis arising from the use and/or the access of our service and/or App. This includes any third-party link to or from the Company’s App. The services listed and provided on the App constitute a ‘willing seller and willing buyer’ basis. Thus, the Company is absolved of any form of liability which may occur as a result of any transaction. The exclusion clause is to be taken into full extent as permitted by law.
Taxes: Any/all purchases made through the website/App will be inclusive of (if any) taxes which are constituted by the specific regional law. You will be in agreement to any form of prevailing tax, duties, fees, charges and/or cost, however denominated, which may be charged by extent of the regional law at any time.
Refunds: All transactions which are conducted are non-refundable in the case of partially used cashback or unclaimed purchases. In cases whereby you have been wrongfully billed, a “case-to-case” basis approach will be taken in the presence of credible evidence of such. The Company holds full authority and discretion towards the outcome of such circumstances. All refunds will be processed in Fave cashback or UPI linked bank account from which the payment was made on basis of discretion of Company. Cash refund requests will be considered on a “case-to-case” basis and will be subjected to a surcharge of ten per cent (10%) on the transacted amount. The Company reserves the right to conduct thorough investigations over a period of time that is deemed necessary by customer service agents of the Company.
3. Holding of Funds
In order to ensure the authenticity and integrity of all transactions, the Company (including all its subsidiaries, brands, related and/or associated companies/brands) reserves the right to hold funds or proceeds from transactions under a “pending” state beyond the normal distribution period. This is done in order to avoid any risk which may be related to suspicious transactions.
By using the App and its services, You hereby agree to indemnify and keep indemnified the Company and in addition, do not hold the Company responsible for any and all liabilities, financial losses, expenses which it may incur from the misuse of the services, breach of terms and conditions or claims of infringement of intellectual property made towards the Company as a result of Your use of services.
You allow us to your user details to send all communications including any transactional, marketing, promotional updates via any mode of communication including SMSs/email/WhatsApp message etc.
Terms and Conditions for Cashback
- Fave is a cashless payment mechanism developed by the Company that allows the customers making purchases at the merchant outlets to make cashless payments via a QR code (“Customer”). Fave also provides a value-added service of cashback in the form of virtual points,subject to the terms and conditions mentioned hereunder (“Cashback”).
- The Cashback T&Cs shall be effective from date of acceptance by the Customer.
- Cashback will be issued to eligible Customers paying using Fave for each specific merchant at the rate as displayed on the merchant page of the App.
- The Cashback will be credited in the form of virtual pointsinto the Customer’s Fave account which will be redeemable as instant discount against the subsequent purchase by the Customer at the merchant outlet using Fave.
- Cashback can only be used at the same merchant’s outlet(s).
- Cashback is not transferable from one merchant to another.
- Cashback is not exchangeable for cash at any of the merchant’s outlet(s) nor at Pine Labs.
- The Cashback will be valid for a period of as specified in the“Savings History” page in the App and will be cancelled from Customer’s Fave account upon expiry.
- Unutilised Expired Cashback is not exchangeable for cash. For the avoidance of doubt, Cashback Has monetary value only when it is applied as a discount on subsequent purchase. Therefore, the Customer will not have, or be entitled to claim from Pine Labs, any rights and/or interests in respect of unutilised expired cashback.
- The merchant is solely responsible for providing the goods & services purchased by the Customer at the Merchant outlet, including but not limited to, delivery, Customer Service, after-sales-service and return management. Pine Labs will have no liability towards the same.
- CashbackT&Cs may be updated by Pine Labs from time to time.
- The laws of India govern the Cashback T&Cs. All disputes shall be settled within the jurisdiction of New Delhi only.
These terms and conditions regulate the payments under the Unified Payment Interface (“BHIM UPI”), a payment service platform (“Platform”) developed by National Payments Corporation of India (“NPCI”), an umbrella organisation incorporated in 2008 and acting as the settlement/clearing house/regulatory agency for BHIM UPI services. The application software (App) which connects the Platform is being offered by Pine Labs Private Limited (“Pine Labs”) a company incorporated under the Companies Act, 1956 with its registered office at 207, Gupta Arcade, L.S.C. Plot No. 5, Mayur Vihar Phase-I Extension, New Delhi-110091 through notified Payment Service Provider Banks (“PSP”). The BHIM UPI services (“Services”) are being offered under the brand Pine Labs UPI.
Pine Labs is a Third Party Application Provider (TPAP) authorized by NPCI to facilitate payments through sponsor PSP bank(s) namely IDFC First Bank. Pine Labs is a service provider in the UPI payment ecosystem and participates in UPI through the PSP Banks.
- “App” - The mobile application(s), hosted by Pine Labs and Pine Labs entities for providing Fave services to its users, including merchants and service providers.
- “Bank Account / Payment Account”- Any bank account or any other payment accounts offered by a regulated entity where money can be held, money can be debited from, and can be credited to.
- “BHIM-UPI” - Unified Payment Interface, as defined by NPCI under respective directives and notifications.
- “Customer’s Bank” - The Bank where the end-user customer maintains his/her account that has been linked for the purpose of debiting/crediting the payment transactions made through UPI.
- “Fave Platform” - Refers to any platform owned/subscribed/used by Pine Labs or any other Pine Labs entities not limited to websites, mobile applications, devices, URLs/links, notifications, chatbot, or any other communication medium used by Pine Labs entities to provide its services to its Users.
- “NPCI” - NPCI is an authorized payment system operator by Reserve Bank of India. NPCI owns and operates the UPI payment system.
- “PSP Bank” - PSP is the banking company authorized to act as a Payment Service Provider (PSP) under the UPI framework. PSP engages the TPAP to provide UPI services to the end-user customers.
- “Services” - shall include all services extended / to be extended by Pine Labs and Pine Labs entity as a group including but not limited to pre-paid Instruments, gift cards, payment gateway, recharges including others.
- “TPAP” - Third Party Application Provider (TPAP) is an entity that provides the UPI compliant app(s) to the end-user customers to facilitate UPI based payment transactions.
- “UPI PIN”- Personal Identification Number which is used as authorization credentials by the issuer bank for debiting a customer's account. It will be 4-6 digits numeric PIN only.
- “VPA” - unique Virtual Payment Account, registered with NPCI that can be linked with your Bank Account.
- “We”, “Our”, “Ourselves”, “Pine Labs”- Refers to Pine Labs Private Limited.
- “You”, “Yours”, “Yourself”, “end user customer”, “user”- is the individual who uses UPI payment facility to send and receive payments and avails UPI facility by linking their bank account(s).
Pine Labs UPI is offered via the App to its registered users having Pine Labs account. UPI is a qualified Pine Labs service and you need to have Your own Bank Account linked with Your active mobile number in order to register and access to Pine Labs UPI.
The registration process is a standard process which is defined and governed by NPCI under UPI guidelines and may change from time to time. Pine Labs in the capacity of TPAP is responsible for implementing the process as notified by NPCI from time to time. You understand that the registration process may include access to Your mobile network and sending a unique SMS using your phone to verify, validate, register and link Your Bank Account on UPI Platform and create a unique Virtual Account Number (“VPA”).
Pine Labs does not store the Bank Account number linked to Your VPA. Further, VPA can be used to:
- Pay at merchant locations using QR code through your Fave App.
- Online through certain merchant websites.
- For making payment for Pine Labs Services as permitted by the regulators and BHIM Payment System Providers.
The details provided by You as part of the UPI registration process, which includes your banking information, shall be shared and maintained at PSP Bank’s and NPCI’s secure library and You consent to share and authorize PSP Bank and NPCI to maintain this data.
Pine Labs can be used for Person to Person money transfers or to purchase products and services online or offline on any Merchant platform. Your BHIM UPI PIN needs to be entered on Your mobile to authorize every Pine Labs UPI payment. You need to ensure that You are connected to the internet at the time of making any transaction. However, this facility may not be extended by Pine Labs or Pine Labs entities for all transactions.
BHIM Pine Labs UPI is one of the payment options available to You on various Merchant platforms and We assume no responsibility for the products / services purchased using BHIM Pine Labs UPI and any liability thereof is expressly disclaimed.
BHIM UPI transactions are subject to minimum and maximum transaction limits that may be set by Pine Labs, User, issuer bank, the payment participants or as may be prescribed under the provisions of applicable law. Further, Pine Labs, Bank - PSP or other payment participants may also reject/suspend transactions (in whole or in part) based on their respective policies and assessment.Your transaction records can be reviewed within the App - “History” section. You are required to review all transactions and in case you identify any error or unauthorised transaction, you are requested to notify this as per the notified Dispute Redressal Mechanism.
Pine Labs does not charge its Users any fee for using the App and the Services, however, We reserve the right to change the fee policy from time to time as per applicable law.
Pine Labs may review Your activity and transactions on Pine Labs and Pine Labs entities for identifying high risk transactions. We may also engage third party providers to assist Us in these efforts. In case, 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 BHIM Pine Labs UPI services.Your transaction may be rejected due to reason not limited to risk management, suspicion of fraudulent, illegal transactions, selling of prohibited items, use of compromised or blacklisted cards or BHIM UPI accounts, chargebacks/complaints or for other reasons as prescribed in the Payment Participant Rules. We may further investigate and may suspend or terminate your Pine Labs account, report the transaction and your account details to legal enforcement agencies or other regulatory authorities as applicable or notified by law.
User Responsibility & Obligations
While your register and transact on using BHIM Pine Labs UPI, You are required to ensure the following –
- You are solely responsible for linking Your correct Bank Account.
- Since Your mobile number is treated as the primary identifier, Your mobile number needs to be updated with the bank linked to Pine Labs App in case of any changes.
- If You change the mobile number registered with Your Pine Labs Account, You will have to re-register your new mobile number with Pine Labs. To re-enable the Services, you need to register your new mobile number with your bank as well.
- You are solely responsible to keep Your OTP, BHIM UPI PIN and bank account related details confidential. Sharing such information with others may lead to unauthorized usage, for which Pine Labs shall not be responsible.
- You shall take full responsibility of the payment request that you make and authorize on BHIM Pine Labs UPI, including addition of beneficiary, typing and reviewing VPAs and validating intended recipients and We do not take correctness of information that you enter during payment processing, including authorization.
- You agree that BHIM Pine Labs UPI, PSP or any other system participant in BHIM UPI payment system shall not be liable for any delay in the completion of the funds transfer or any loss on account of error in the execution of the funds transfer by you.
- You are required to ensure availability of sufficient funds in BHIM Pine Labs UPI linked Bank Account(s) in order to avoid transaction declines and charges if any accessed by your issuer bank.
UPI Participant’s Roles and Responsibilities
- NPCI owns and operates the Unified PaymentsInterface (UPI) platform
- NPCI prescribes rules, regulations, guidelines, and the respective roles, responsibilities and liabilities of the participants, with respect to UPI. This also includes transaction processing and settlement, dispute management and clearing cut-offs for settlement.
- NPCI approves the participation of issuer banks, PSP banks, Third Party Application Providers (TPAP) and Prepaid Payment Instrument issuers (PPIs) in UPI.
- NPCI provides a safe, secure and efficient UPI system and network.
- NPCI provides online transaction routing, processing and settlement services to members participating in UPI.
- NPCI can, either directly or through a third party, conduct an audit on UPI participants and call for data, information and records, in relation to their participation in UPI.
- NPCI provides the banks participating in UPI access to system where they can download reports, raise chargebacks, update the status of UPI transactions etc.
- PSP Bank
- PSP Bank is a member of UPI and connects to the UPI platform for availing UPI payment facility and providing the same to the TPAP which in turn enables the end-user customers / merchants to make and accept UPI payments.
- PSP Bank, either through its own app or TPAP’s app, on-boards and registers the end-user customers on UPI and links their bank accounts to their respective UPI ID.
- PSP Bank is responsible for authentication of the end-user customer at the time of registration of such customer, either through its own app or TPAP’s app.
- PSP Bank engages and on-boards the TPAPs to make the TPAP’s UPI app available to the end-user customers.
- v. PSP Bank has to ensure that TPAP and its systems are adequately secure to function on UPI platform.
- PSP Bank is responsible to ensure that UPI app and systems of TPAP are audited to safeguard security and integrity of the data and information of the end-user customer including UPI transaction data as well as UPI app security.
- PSP Bank has to store all the payments data including UPI Transaction Data collected for the purpose of facilitating UPI transactions, only in India.
- PSP Bank is responsible to give all UPI customers an option to choose any bank account from the list of Banks available on UPI platform for linking with the customer’s UPI ID.
- PSP Bank is responsible to put in place a grievance redressal mechanism for resolving complaints and disputes raised by the end-user customer.
- Pine Labs (TPAP)
- Pine Labs is a service provider and participates in UPI through PSP Bank.
- Pine Labs is responsible to comply with all the requirements prescribed by PSP Bank and NPCI in relation to TPAP’s participation in UPI.
- Pine Labs is responsible to ensure that its systems are adequately secure to function on the UPI platform.
- Pine Labs is responsible to comply with all applicable laws, rules, regulations and guidelines etc. prescribed by any statutory or regulatory authority in relation to UPI and Pine Labs’s participation on the UPI platform including all circulars and guidelines issued by NPCI in this regard.
- Pine Labs has to store all the payments data including UPI transaction data collected by TPAP for the purpose of facilitating UPI transactions, only in India.
- Pine Labs is responsible to facilitate RBI, NPCI and other agencies nominated by RBI/ NPCI, to access the data, information, systems of Pine Labs related to UPI and carry out audits of Pine Labs, as and when required by RBI and NPCI.
- Pine Labs shall facilitate the end-user customer with an option to raise grievance through the Pine Labs’ grievance redressal facility made available through Pine Labs UPI app or website and such other channels as may be deemed appropriate by the Pine Labs like email, messaging platform, IVR etc.
Dispute & Grievance
Pine Labs has tripartite contractual agreements with sponsor PSP Banks and NPCI and we are obligated to facilitate grievances / complaints resolution of the customers onboarded on our UPI application.We shall be the first point of contact for all UPI related grievances/complaints for customers on- boarded by Us. In case the complaint/grievance remains unresolved, the next level for escalation will be the PSP Bank, followed by the bank (where you maintain the account) and NPCI in the same order. After exercising these options, you can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.
Dispute Redressal Mechanism
- You can raise a complaint with respect to a UPI transaction, on the Pine Labs App.
- You can select the relevant UPI transaction and raise a complaint in relation thereto.
- You can raise a complaint with Pine Labs with respect to all UPI related grievances / complaints if the UPI transaction is made through Pine Labs App. 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 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.
- The complaint can be raised for both the types of transactions i.e. fund transfer and merchant transactions.
- You shall be kept communicated by Pine Labs by means of updating the status of your complaint on Pine Labs App or any other means such as email, telephone.
Use of Group Companies
You understand and agree that Pine Labs and Pine Labs entities reserve the right to use the services of themselves to provide any of the mentioned Pine Labs services to you within Pine Labs Platforms.
Indemnity & Liability
In no event will Pine Labs be liable for any indirect, consequential, incidental, special or punitive damages liabilities (including statutory), including without limitation damages for loss of profits or revenues, business interruption, loss of business opportunities, loss of data or loss of other economic interests, whether in contract, negligence, tort or otherwise, arising from the use of or inability to use the BHIM Pine Labs UPI facility.
You may note that Pine Labs shall retain your registration information, VPAs, transactional information or any other information that We are permitted to store as permitted under the BHIM UPI Payment System for the duration as specified in regulations or notified by NPCI from time to time even after termination of contract.
You understand that the terms of availing of UPI facility using NPCI Platform, PSP and Pine Labs shall not create any contractual obligation against any NCPI system participants and downloading or using the Pine Labs App does not automatically entitle You for BHIM Pine Labs UPI facility.
We do not make any warranties and make no representation about the quality and availability of BHIM UPI facility.
We endeavor to execute and process transactions as per the defined process, however, We shall not be held responsible for any non-responsiveness, delay, failure of systems or any other circumstances that might not be in our control.
Your transaction records and other logs maintained with Us shall be final and binding as a proof of this facility and transactions.