This document/agreement/understanding is a computer-generated electronic record published in terms of Rule 3 of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 (amended from time to time) read with Information Technology Act, 2000 (amended from time to time) and does not require any physical or digital signatures.
These Terms and Conditions ("Terms") constitute a legal agreement between You and Razorpay Software Private Limited ("Razorpay" or "us", or "we" or "our"). The Terms, constituted of Part A: General Terms and Conditions and Part B: Specific Terms and Conditions, govern Your access to and use of Razorpay services, including payments, technology, software, analytics or any other services, tools or products offered or made available by Razorpay and/or its Affiliates, and/or their Facility Providers, ("Services"). The Services may be offered or made available to You via our website, mobile applications, software, APIs, social media, or other access channels ("Platform"). "You", "Yours", "Yourself" or "Merchant" refers to customers, who may be a non-registered individual or corporate body, who register for, use, or access the Platform or Services. The Services provided by Razorpay through the Platform are available and are appropriate only for use in India.
Please read these Terms carefully before accessing the Platform or using the Services. By accessing the Platform or using the Services, You agree to be bound by these Terms, including our Privacy Policy and any other policy applicable to the Services received via the Platform. If You do not agree to these Terms or do not wish to be bound by these Terms, You must immediately terminate the use of the Services. Razorpay reserves the right to amend or otherwise modify the Terms at any time by posting an updated version on the website.
1. Proprietary Rights
1.1. We (and our licensors, as applicable) remain the sole owner of all right, title and interest in the Services, including the Platform and the website www.razorpay.com, including any intellectual property rights which subsist in the Services (whether registered or not). Razorpay grants You a personal, non-exclusive, non-transferable, limited right to access the Platform and make personal use of the website and the Services. You shall not remove, obscure, or alter any proprietary rights notices (including trademark and copyright notices), which may be affixed to or contained within the Services.
1.2. You grant a royalty-free, non-exclusive, irrevocable, transferable and sub-licensable license to Razorpay, its Affiliates and third party service providers, to use Your data, Your customer's data, information, content, trademarks, logos and any other materials/information You upload or make available to us or on the Platform ("Your materials"). You agree that Razorpay may use Your materials to operate and improve the Platform, provide the Services, and fulfil Razorpay's rights and discharge its obligations under the Terms.
2. Usage of the Website and Use of Services by the User
2.1. Eligibility: You shall register to become a user of the Website only if You are of the age of 18 or above and can enter into binding contracts as per Applicable Laws. You are responsible for maintaining the secrecy of Your passwords, login and account information.
2.2. Accuracy of Information: You agree to provide true, accurate, current and complete information about Yourself as and when prompted by the Platform.
2.3. Communications & DND Waiver: By using the Services and providing your contact information, you consent to receiving information about, and offers for, various products and services from Razorpay, its Affiliates or third parties. You explicitly waive any registration or preferences listed under the Do Not Disturb (DND) or National Customer Preference Register (NCPR) in accordance with TRAI regulations.
2.6 & 2.7. KYC & Regulatory Compliance: You acknowledge and agree that for undertaking any payment and/or financial transaction through the Platform, Razorpay may undertake due diligence measures and seek information required for KYC purposes in accordance with Applicable Laws including RBI Guidelines on Payment Aggregators, Payment and Settlement Systems Act, 2007, Prevention of Money Laundering Act, 2002 (PMLA), etc. You agree to submit all required KYC Documents.
2.14(e) Crypto & Virtual Currency Prohibition: You do not, and shall not, engage in any activity related to virtual currency, cryptocurrency and other crypto products (like non-fungible tokens or NFTs), prohibited investments for commercial gain or credits that can be monetized. Any breach shall result in immediate termination of Services.
2.22. Payment Orchestration Restrictions: You shall not engage, appoint, or otherwise utilize any third-party service provider in connection with the Services without prior written consent of Razorpay. You shall not route payments through an unapproved third-party orchestrator.
3. Payment, Reconciliation & Tax Compliance
3.1. Fees & MDR: Applicable fees for the provision of Services shall be levied by Razorpay from time to time. Razorpay fees include zero MDR for RuPay Debit Cards and UPI transactions.
3.3. Monthly Invoices: Monthly invoices are generated on the dashboard. Any dispute in respect of an invoice must be communicated in writing no later than ten (10) days from the date of the invoice.
3.4. Daily Reconciliation: You shall be responsible to do reconciliation on a daily basis for all transactions processed. In case of discrepancies, You shall report to Razorpay regarding such discrepancy within three (3) days upon receipt of funds.
3.5 & 3.5A. Tax Deductions (TDS): Compliance with Section 194H and Section 194O of the Income Tax Act, 1961. Where applicable, Form 16-A tax certificates must be submitted within 180 days. E-commerce operators are responsible for TDS under Section 194O.
3.6 & 3.6A. GST Registration & B2B Tax Invoices: You are responsible for providing valid GSTIN and GST certificates on the dashboard prior to invoice generation.
4. Privacy Policy
By using the website, You hereby consent to the use of Your information as outlined in our Privacy Policy.
5. Third Party Links / Offers
The Platform may contain links to third-party websites over which we have no control. Razorpay is not responsible for the content, privacy policies, or practices of third-party sites.
6. Our Partners
This Platform offers access to financial products/services including loan facilities, credit cards, and bank current accounts offered by lending partners.
7. Disclaimer of Warranty
To the maximum extent permitted by Applicable Laws, the Platform and Services are provided on an "AS IS" basis without warranties of uninterrupted or error-free operation.
8. Limitation of Liability
8.1. Razorpay shall not be liable for direct, indirect, incidental, punitive or consequential damages resulting from platform use or service delays.
8.2. Liability Cap: Razorpay's aggregate liability relating to the Services will not exceed an amount equal to one (1) month fees paid by You for the specific Service giving rise to liability.
9. Indemnity
You agree to indemnify and hold harmless Razorpay, its officers, directors, employees, and affiliates from all claims, damages, losses, penalties, and legal fees arising out of Your breach of these Terms or violation of Applicable Laws.
10. Card Association & Payment Network Rules
You agree to fully comply with all guidelines, rules, and regulations formulated by card payment networks (MasterCard, Visa, RuPay, etc.) and payment authorization systems.
11. Governing Law & Court Jurisdiction
These Terms shall be governed by and construed in accordance with the laws of India. Any legal action or proceedings arising out of or in connection with the Services shall be brought exclusively in the competent courts/tribunals having jurisdiction in Bengaluru, India.