Terms of Use of PhonePe UPI

The Unified Payments Interface (UPI) is a payment platform built by NPCI (National Payments Corporation of India) that allows instant online payments between the bank accounts of any two parties. UPI offers an architecture and a set of standard API specifications to facilitate these online payments. It aims to simplify and provide a single interface across all NPCI systems besides creating interoperability and superior customer experience.

These terms and conditions regulate the payments under the Unified Payment Interface (“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 UPI services. The application software (“PhonePe App”) which connects the Platform is being offered by PhonePe Private Limited (“PhonePe”) a company incorporated under the Companies Act, 1956 with its registered office at Office-2, Floor 5, Wing A, Block A, Salarpuria Softzone, Bellandur Village, Varthur Hobli, Outer Ring Road, Bangalore South, Bangalore, Karnataka, India, 560103 (hereinafter referred to as “PhonePe”) through notified Payment Service Provider Banks (“PSP”). The UPI services (“Services”) are being offered under the brand “PhonePe”.

PhonePe Private Limited (“PhonePe”) is a TPAP authorized by NPCI to facilitate payments through sponsor PSP Bank(s) namely Yes Bank Ltd., Axis Bank Ltd. and ICICI Bank Ltd. PhonePe is a service provider in the UPI payment ecosystem, and We participate in UPI through the PSP Banks.

“NPCI” – NPCI is an authorized payment system operator by RBI. NPCI owns and operates the UPI payment system.

“UPI” – Unified Payment Interface, as defined by NPCI under respective directives and notifications.

“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.

“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.

“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.

“You”, “Yours”, “Yourself”, “end user customer”, “user”– is the individual who uses UPI payment facility to send and receive payments and avails UPI payment facility by linking their Bank Account(s).

“We”, “Our”, “Ourselves”, “PhonePe”– Refers to PhonePe Private Limited.

“PhonePe App” – The mobile application(s), hosted by PhonePe and PhonePe entities for providing PhonePe services to its users, including merchants and service providers.

‘PhonePe Platform” – Refers to any platform owned/subscribed/used by PhonePe Private Limited or any other PhonePe entities not limited to websites, mobile applications, devices, URLs/links, notifications, chatbot, or any other communication medium used by PhonePe entities to provide its services to its Users.

“PhonePe Services” – shall include all services extended / to be extended by PhonePe and PhonePe entities as a group including but not limited to Pre-Paid Instruments, Gift cards, payment gateway, Recharges and Bill Payments, Insurance, Mutual Funds, Gold sale & purchase, switch including others.

“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.

“VPA” – uunique Virtual Payment Account, registered with NPCI that can be linked with Your Bank Account.

“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.

PhonePe UPI is offered via PhonePe App to its registered users having PhonePe account. UPI is a qualified PhonePe service and You need to have Your own Bank Account linked with Your active mobile number in order to register and access to PhonePe 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. PhonePe 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”).

PhonePe 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 PhonePe App.
• Online through certain merchant websites.
• For making payment for PhonePe Services as permitted by the regulators and 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.

PhonePe UPI can be used for Person to Person money transfers or to purchase products and services online or offline on any Merchant platform. Your UPI PIN needs to be entered on Your mobile to authorize every PhonePe 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 PhonePe or PhonePe entities for all transactions.

While making Payments for PhonePe Services on PhonePe Platform, You may make Payments using PhonePe UPI.

PhonePe 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 PhonePe UPI and any liability thereof is expressly disclaimed.

UPI transactions are subject to minimum and maximum transaction limits that may be set by PhonePe, User, Issuer Bank, the Payment Participants or as may be prescribed under the provisions of Applicable Law. Further, PhonePe, 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 PhonePe 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.

• Charges:
  PhonePe does not charge its Users any fee for creating an Account, however, We reserve the right to change the fee policy from time to time, subject to applicable laws. We may introduce fees for any new services or amend/introduce fees for existing services, as the case may be. Changes to the fee(s) shall be displayed accordingly to You via website/app and such changes shall automatically become effective immediately after they are posted. Unless otherwise stated and for UPI International, all fees shall be quoted in Indian Rupees.
  Your bank may charge you a nominal transaction fee for UPI transfers- please check with your bank for any such charges.
• Transaction Monitoring:
  PhonePe may review Your activity and transactions on PhonePe and PhonePe 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 PhonePe UPI services.
  Your transaction may be rejected due to reason not limited to risk management, suspicion of fraudulent, illegal Transactions, buying/selling of prohibited items, use of compromised or blacklisted cards or UPI accounts, chargebacks/complaints or for other reasons as prescribed in the Payment Participant Rules. We may further investigate and may suspend or terminate Your PhonePe account, report the transaction and Your account details to legal enforcement agencies or other regulatory authorities as applicable or notified by law.
• Multiple VPA(s) and Bank Account(s):
  As a registered User of PhonePe UPI, You shall have an option to link multiple BankAccount(s) on the PhonePe App and enable VPA(s) for each such Bank Account. There maybe a scenario wherein You have the option of re-linking an already enabled VPA with another Bank Account that is previously linked by You on the PhonePe App. In such a scenario, You agree that PhonePe shall have the exclusive right to assign each unique VPAs to each Bank Accounts linked by You on the PhonePe App, by providing a prior intimation toYou in this regard via the PhonePe App. Once such change has been made, You shall be able to access the details of each of Your unique VPA(s) for all Your linked Bank Account(s) under the profile section of Your account on the PhonePe App.

While You register and transact on using PhonePe 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 PhonePe App in case of any changes.
• If You change the mobile number registered with Your PhonePe Account, You will have to re-register Your new mobile number with PhonePe. To re-enable the Service, You need to register Your new mobile number with Your bank as well.
• You are solely responsible to keep Your OTP, UPI PIN and bank account related details confidential. Sharing such information with others may lead to unauthorized usage, for which PhonePe shall not be responsible.
• You shall take full responsibility of the payment request that You make and authorize on PhonePe UPI, including addition of beneficiary, typing and reviewing VPAs and validating intended recipients and We do not verify correctness of information that You enter during payment processing, including authorization.
• You agree that if You provide any information that is untrue, inaccurate, not current or incomplete or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with this Terms of Use, We shall have the right to indefinitely suspend or terminate or block access to Your Account.
• We shall ensure that all Your confidential data pertaining to Your transactions, bank account details, and all other sensitive personal information are protected and kept confidential by employing best available protection standards, which are more fully set out in our Privacy Policy.
• You agree that PhonePe UPI, PSP or any other system participant in 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 PhonePe UPI linked Bank Account(s) in order to avoid transaction declines and charges if any accessed by Your Issuer Bank.
• You agree and understand that ‘PhonePe’ shall onboard You on the NPCI operated centralised mapper(s) such as‘Numeric UPI ID Mapper’to enable You to send or receive funds using a defined ‘UPI Number’ (which would be Your mobile number by default) and You agree and consent that such onboarding shall be done by PhonePe on Your behalf within the defined and permitted structure of NPCI. This process shall be as per directives of NPCI and shall include but not limited to sharing Your UPI details (collected and maintained by PhonePe to provide UPI services) with NPCI and linking of default bank account / VPA to Your ‘UPI Number’. This would enable You to accept payments against Your UPI number. PhonePe shall provide You an option to de-link the default mapping of UPI number processed on PhonePe mobile application. You further agree to receive funds from other users registered on PhonePe and consent that PhonePe will process such transactions to Your linked default bank account without checking with the NPCI Mapper.

• NPCI:
  • NPCI owns and operates the Unified Payments Interface (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.
  • 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.
• PhonePe (TPAP)
  • PhonePe is a service provider and participates in UPI through PSP Bank.
  • PhonePe is responsible to comply with all the requirements prescribed by PSP Bank and NPCI in relation to TPAP’s participation in UPI.
  • PhonePe is responsible to ensure that its systems are adequately secure to function on the UPI platform.
  • PhonePe 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 PhonePe’s participation on the UPI platform including all circulars and guidelines issued by NPCI in this regard.
  • PhonePe has to store all the payments data including UPI Transaction Data collected by TPAP for the purpose of facilitating UPI transactions, only in India.
  • PhonePe is responsible to facilitate RBI, NPCI and other agencies nominated by RBI/ NPCI, to access the data, information, systems of PhonePe related to UPI and carry out audits of PhonePe, as and when required by RBI and NPCI.
  • PhonePe shall facilitate the end-user customer with an option to raise grievance through the PhonePe’s grievance redressal facility made available through PhonePe App or website and such other channels as may be deemed appropriate by the PhonePe like email, messaging platform, IVR etc.

Wherever feasible and in select locations, UPI international as a feature will enable the users who travel abroad to pay merchants in such countries using UPI payment facility. The payment flow shall be similar to normal UPI merchant transactions where a user scans a QR (UPI Global QR, local QR, static or dynamic QR, as the case may be) or raises a collect request, enters the amount, and authorizes it with a UPI PIN.

To use this feature, the users shall have to activate their international payments with a UPI PIN. Activation can also be done from any location i.e., within India or outside India. If users scan an international QR before activation, then they will be asked to complete activating UPI international first and then complete their payment. Based on user’s request, PhonePe shall activate the Bank Accounts opted by the users for UPI international transactions. For all users for whom UPI international is activated, such activation will remain only for a period 3 month i.e., activation will be disabled on expiry of 3 months by default. However, users may also deactivate this feature in their settings on the PhonePe App prior to expiry of 3 months through UPI PIN authentication process.

For all UPI international transactions, the amount will be entered in the local currency of that country where the transaction is taking place. In real time, the amount will also be shown in Indian Rupees based on the forex rates & mark up. Transaction history will have identifier Of UPI international payments with payment details of each transaction. You consent to all charges applicable for UPI international transactions including any processing fee that is levied by Your bank. You also understand and agree that fluctuations in the currency rates during the transaction may result into dynamic charges levied at the end of the transaction with reference to charges displayed at initiation of transaction.

UPI foreign inward remittance as a feature is available in select countries and will enable You to receive payments from payers located in such select countries, using their own mobile application. To use this feature, you provide your consent to allow PhonePe partner bank(s) to share your personal information including VPA, account number, banking name, IFSC code etc. with international payment/remittance partners to enable receipt of cross border payment, through your PhonePe Application.

You further understand and agree that you shall be solely liable to comply with the laws and guidelines issued by Regulatory Authorities including RBI on foreign inward remittances. The consent provided hereunder is a onetime activity and will enable inward remittance on all your ‘VPA’ and bank account linked on PhonePe. You may revoke your consent anytime, through the “permissions” section on your PhonePe mobile application.

Disclaimers and Additional Terms:

• All the transactions are strictly between the Payee and Payer without any liability on PhonePe whatsoever.
• PhonePe disclaims all liability arising out of the failure of the transactions, non-availability of the services and/or legality of the transactions and shall not be liable for any error, failure, disruption, non-availability of the services/transactions. Please reach out to your bank for any issues arising out of any transaction.
• All foreign inward transaction history shall be visible in your bank accounts only. Foreign inward transaction history is not visible on your PhonePne mobile application. PhonePe is not liable for providing any confirmation, messages, transactions alerts against success or failure of any transaction. Please reach out to your bank for any such queries or complaints.
• You shall abide by anti-money laundering and counter terrorism financing regulations and guidelines.
• PhonePe does not verify, check or monitor any transactions or payers under foreign inward transactions.

For all foreign inward transactions, the amount will be paid by the payer in their local currency and received by you in Indian currency only. The value of the transaction shall be determined by the applicable currency exchange rates of your receiving bank account.

Non-Resident Indian (NRI) users may use/access the PhonePe App/PhonePe Platform by registering through their non-Indian mobile numbers linked with the Non Resident External (NRE)/ Non Resident Ordinary (NRO) bank accounts held with the Banks in India. NRI users shall ensure that their Indian NRE/NRO accounts are held in accordance with applicable laws of India and shall keep their KYC updated at all times. All data/information including personal and payment data of the NRI users shall be stored, accessed and processed in accordance with applicable laws of India. 

We may, subject to the applicable guidelines issued by the Reserve Bank of India (“RBI”) and/or National Payments Corporation of India (“NPCI”) from time to time, enable You to avail ‘UPI Lite’ on the PhonePe App. UPI Lite is an ‘on-device wallet’ for small value transactions enabled by NPCI. All banks may not enable/support UPI Lite. You shall be able to enable only one Bank Account that is linked on Your PhonePe App for UPI Lite (hereinafter referred to as “UPI Lite Facility”).

In order to enable UPI Lite Facility, You shall be required to click/tap on the specific section on the PhonePe App and add funds into the UPI Lite Facility. By clicking/tapping on the specific section on the PhonePe App, You provide your consent to enable the UPI Lite Facility. The funds can be added only via Your Bank Account linked to UPI Lite on the PhonePe App using Your UPI PIN. You shall be able to track the status of each transaction via UPI Lite Facility on the PhonePe App. Any amount added to the UPI Lite shall be non-interest bearing. In order to make payment via UPI Lite Facility, You shall not be required to enter a UPI PIN. However, there would be limits that would be applicable with respect to the transactions via UPI Lite Facility. The applicable transaction limits shall be as follows:

• Every transaction using UPI Lite Facility shall be limited to a maximum of INR 500.
• The cumulative value of all transactions using UPI Lite Facility in a day shall be limited to a maximum of INR 4000.
• The maximum balance that can be held in the UPI Lite Facility at one point in time shall be limited to INR 2000

The above stated transaction limits may be modified without any prior notice.

Before changing Your mobile device, You must disable UPI Lite Facility from such mobile device as per the steps prescribed on the PhonePe App and move Your UPI Lite Facility available balance funds to Your linked Bank Account. In case You fail to disable UPI Lite Facility from your old mobile device, You can reach out to Your issuer bank for moving Your UPI Lite Facility available balance to Your linked Bank Account. PhonePe shall not be liable in this regard

You shall have the right to disable the UPI Lite Facility, at any time, by following the steps/procedure prescribed on the PhonePe App. Once the UPI Lite Facility is disabled, the balance funds shall be credited into Your linked Bank Account.

Except as provided above, all terms provided with respect to PhonePe UPI shall be applicable to UPI Lite. In case of a conflict between the terms under this section viz. UPI Lite and the Terms of Use of PhonePe UPI (excluding the UPI Lite section), the terms under this section shall prevail. Any disputes with respect to the transaction(s) authorized using UPI Lite shall be dealt with as per the process applicable for PhonePe UPI.

We may enable You to opt for cardless cash withdrawal facility at selected Automated Teller Machines (“ATM(s)”) based on these Terms (“Facility”). In order to avail this Facility, You need to fulfil certain criteria such as (i) be a customer of an eligible bank enabled for UPI-ATM Facility, (ii) use such ATM which is enabled for this Facility; (iii) register with PhonePe UPI (in order to use UPI as a payment option for this Facility); and/or other criteria as defined by NPCI or RBI (as the case may be).

If the above-mentioned criteria are fulfilled and once You are present at such eligible ATM to withdraw cash, You would have an option to select “UPI cash withdrawal” at such eligible ATM, and enter the withdrawal amount. After entering the required amount, a single use dynamic QR code shall be displayed on the ATM screen. You would be required to scan the QR code using PhonePe App via Your registered mobile number and select Your bank account where You need to withdraw cash from.

Upon selection of the above, You shall be asked to authorize the transaction via PhonePe UPI using Your UPI PIN on Your PhonePe App. Upon successful authentication, a confirmation screen shall appear on Your PhonePe App and the ATM machine, further which You shall be prompted to collect the cash on the ATM screen (and further notified about the debit from Your bank account by Your issuer bank). The cash from such ATM machine will be dispensed and You would be required to collect the same.

In case if Your money is debited from Your bank account and the transaction is unsuccessful for any reason(s), You can reach out to Your issuer bank for the reversal of such amount debited from Your account. PhonePe shall not be liable in this regard.

Please note that You cannot leave the ATM machine unattended until the cash is dispensed and collected by You from such ATM. You shall be subject to such transaction limit(s) to withdraw cash as provided by NPCI / RBI, or Your issuer bank (which may be modified from time to time without prior notice to You). Further, You shall be able to view the transactions completed through this Facility, on Your history section within Your PhonePe App.

You agree: (i) PhonePe is only enabling this Facility through its PhonePe App and will not have visibility about the eligible ATM machines for this Facility. It shall be Your responsibility to check whether the ATM machine is enabled for this Facility; (ii) You shall be liable to collect cash after getting the confirmation (via Your PhonePe App / ATM machine after successful authentication), and check that the notes received are not (i) soiled, damaged or counterfeit and (ii) of the same value which You had chosen to be withdrawn. PhonePe shall not be liable in this regard.

If Your issuer bank has sanctioned/extended credit line to You (“Credit Line”), We may enable You to link such Credit Line to PhonePe UPI in accordance with these terms. With respect to the linking of the Credit Line to PhonePe UPI, You shall be required to complete certain steps as required on the PhonePe App. Upon successful linkage of Your Credit Line to PhonePe UPI, You would be able to make payment(s) to select merchant(s) that accept payments via Credit Line. Please note that You shall only be able to link such Credit Line to Your PhonePe UPI which is linked to Your mobile number registered on PhonePe App. 

In the relevant section on the PhonePe App, You shall be able to view the list of issuer banks that are enabled by PhonePe for this facility. Once You select the issuer bank that has sanctioned the Credit Line to You, PhonePe shall fetch the details of Your Credit Line. For this purpose, You agree that Your mobile network may send a unique SMS using Your phone to verify the details in relation to Your Credit Line and standard SMS charges may apply. Upon completion of the required steps, a unique VPA in relation to such Credit Line shall be generated and such Credit Line would be linked to PhonePe App. You shall have an option of adding multiple such Credit Line(s) which are sanctioned by Your issuer bank to PhonePe UPI on PhonePe App in the abovementioned manner. 

Post creation of a VPA, in order to set a UPI PIN to Your Credit Line linked to PhonePe App, You can choose mode(s) enabled by PhonePe. Based on the chosen mode to set a UPI PIN to the Credit Line linked on the PhonePe App, PhonePe may further ask You to verify the details associated to the Credit Line, including, without limitation, details of Your account, debit card, etc., and set a UPI PIN to Your Credit Line linked on PhonePe App.  

In order to make payment(s) to the select merchant(s) who enable credit line payment(s) using PhonePe UPI, You shall be required to authorize such payments by inserting Your UPI PIN. You agree that Your Credit Line linked to PhonePe UPI, shall enable payments to the enabled merchants only and cannot be used to make any other payment(s) (including, but not limited to, transfers to individuals, bank account transfer/ cash withdrawal). 

Further, You agree that You shall be subject to: (i) the limit of the Credit Line mandated by Your issuer bank, and (ii) such transaction limit(s) applicable for UPI transactions by NPCI. 

Additionally, You shall have the option of checking ‘available/Credit Line balance’ in Your linked Credit Line. You understand that under this facility, We shall display the ‘available/credit line balance’ as provided by issuer bank and will not hold any liability in respect to the discrepancies, error(s), inaccuracy of the information, in relation to the same. You can also view the history of the payment(s) happened via Credit Line linked to PhonePe UPI under the history section under transaction details on PhonePe App. 

You agree that: 

1. The Credit Line is enabled by Your issuer bank, based on the contractual terms agreed between You and the issuer bank. PhonePe has no role in determining the eligibility criteria to define the credit limit in relation to the Credit Line and/or risks in relation to the same. PhonePe is merely enabling You to link the Credit Line to PhonePe UPI via PhonePe App and shall not be liable for any risks associated in determining or verifying the contractual term(s) agreed between You and Your issuer bank.
2. Any amount utilized by You using the Credit Line linked via PhonePe UPI under this facility, shall be a payment towards the relevant enabled merchant. You shall be required to repay the pending dues in relation to the Credit Line to Your issuer bank within the due date mentioned in the bill(s) raised by the issuer bank and as per the modes extended by Your issuer bank(s) with respect to the same. 

In case any refunds of forward payment(s) paid by You via the Credit Line UPI through PhonePe App, the same shall get accrued/adjusted in the Credit Line as per the contractual terms agreed between You and Your issuer bank.  

Any disputes with respect to the transaction(s) authorized using Your Credit Line via PhonePe UPI on PhonePe App, shall be dealt with as per the process provided in the section Disputes and Grievance under the Terms of Use of PhonePe UPI and any other process as may be prescribed by NPCI (from time to time) with respect to UPI transactions. Any refunds/reversals shall be as per timelines applicable to UPI transaction(s).

PhonePe 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 PhonePe App.
• You can select the relevant UPI transaction and raise a complaint in relation thereto.
• You can raise a complaint with PhonePe with respect to all UPI related grievances / complaints if the UPI transaction is made through PhonePe 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 PhonePe by means of updating the status of Your complaint on PhonePe App or any other means such as Email, Telephone.

Entity	Grievance Redressal Link
PSP Bank	Yes Bank https://www.yesbank.in/contact-us Axis Bank https://www.axisbank.com/contact-us/grievance-redressal/retail-banking-grievance-redressal ICICI Bank https://www.icicibank.com/complaints/complaints.page
NPCI	https://www.npci.org.in/what-we-do/upi/dispute-redressal-mechanism

You understand and agree that PhonePe and PhonePe entities reserve the right to use the services of themselves to provide any of the mentioned PhonePe Services to You within PhonePe Platforms.

In no event will PhonePe 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 PhonePe UPI payment facility.

You shall indemnify and hold harmless PhonePe, PhonePe entities, its owner, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim or demand, or actions including reasonable attorneys’ fees, made by any third party or penalty imposed due to or arising out of Your breach of this Terms of Use, Privacy Policy and other policies, or Your violation of any law, rules or regulations or the rights (including infringement of intellectual property rights) of a third party.

You agree that PhonePe at its sole discretion may terminate Your contract without prior notice and restrict Your access to PhonePe App if We determine that You have violated this Terms of Use and You consent that in case PhonePe suffers losses, not limited to monetary losses, due to Your actions, We can take injunctive relief as deemed necessary within the said circumstances. We may also suspend services or terminate Your contract in case of violation of User conduct of PhonePe Platforms as defined by PhonePe and PhonePe entities.

You may note that PhonePe shall retain Your registration information, VPAs, transactional information or any other information that We are permitted to store as permitted under the UPI Payment System for the duration as specified in regulations or notified by NPCI from time to time even after termination of contract.

This agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Terms of Use, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India. The courts in Bengaluru, Karnataka shall have exclusive jurisdiction over all matters connected with the PhonePe Services.

You understand that the terms of availing of UPI payment facility using NPCI Platform, PSP and PhonePe shall not create any contractual obligation against any NCPI system participants and downloading or using the PhonePe App does not automatically entitle You for PhonePe UPI payment facility.

We do not make any warranties and make no representation about the quality and availability of UPI payment 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.