TERMS AND CONDITIONS

RAZORPAY CO-BRANDED PREPAID PAYMENT INSTRUMENT

1. PURPOSE

a. In accordance with the PPI Master Direction (defined below), Razorpay Technologies Private Limited
(“Razorpay”) has issued a co-branded prepaid payment instrument in partnership with its co-branding
partner (“Co-Branding Partner”).

b. The issuance of PPI (defined below) by Razorpay is subject to the terms and conditions set out below.

c. By registering for this PPI, the User (defined below) agrees that the User has acknowledged, read,
understood and accepted these Terms and Conditions to access and use the PPI.

d. The User further understands and agrees that Razorpay reserves the right to amend or supplement these
Terms and Conditions at its sole discretion.

2. DEFINITIONS
a. “Affiliate” shall mean any person or entity that directly or indirectly controls or is controlled by or is
under common control with Razorpay or Co-Branding Partner. As used herein, the term “control” means
the possession of more than fifty percent (50%)
of issued and voting capital or share participation or the possession of the power to direct or cause the
direction of the management and policies through the ownership of securities or interests.
b. “App” or “Website” means the Co-Branding Partner owned and operated mobile application or the
website through which Users may avail the PPI and services connected therewith.
c. “Applicable Law” shall mean any statute, law, regulation, master direction, circular, guideline,
ordinance, rule, judgment, notification, order, decree, injunction, arbitral award, bye-law, directive,
requirement or other governmental restriction or any similar
form of decision by any governmental authority having the force of law.
d. “Electronic Instructions” means any communication, instruction, order, message, data, information or
request relating to a PPI made using the App or Website.
e. “Intellectual Property Rights” means all intellectual property and proprietary rights now known or
hereafter recognized in any jurisdiction, including rights associated with any of the following: patents,
copyrights, designs, trademarks, trade names,
service marks, domain names, websites, including all contents of the websites, trade dress, logos and
corporate names, trade secrets, software, including source code and object code, technologies, know-
how, databases, layouts, designs, specifications and other proprietary, in each case, owned by Razorpay
or Co-Branding Partner and/or their respective Affiliates.

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 f. “IT Act” shall mean the Information Technology Act, 2000 and allied rules and
regulations.
g. “KYC Master Direction” shall mean the RBI Master Direction – Know Your Customer (KYC)
Direction, 2016 RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16.
h. “Losses” means, in relation to any person, a damage, loss, cost, expense or liability incurred by the
person or a claim, action, proceeding or demand made against the person, arising out of or in connection
with these Terms and Conditions.
i. “Personal Data” refers to any personally identifiable information provided by User to Razorpay or Co-
Branding Partner in connection with availing the Wallet.
j. “PPI Issuer” shall have the same meaning ascribed to it under the PPI Master Direction.
k. “PPI Master Direction” shall mean the RBI Master Direction on Issuance and Operation of Prepaid
Payment Instruments RBI/DPSS/2021-22/82 CO.DPSS.POLC.No.S-479/02.14.006/2021-22 (as
amended from time to time).

l. “RBI” means the Reserve Bank of India.

m. “Transaction” means a transaction made by a User using the PPI including loads, transfers and spends
made using the PPI.
n. “User” refers to a holder of a PPI, authorized and eligible to avail the PPI and services related thereto
through the App or Website. User also refers to any person who has installed the Application and has
registered with Co-Branding Partner and/or
Razorpay for availing the PPI.
o. ”PPI” shall mean the digital prepaid payment instrument facility issued by Razorpay in partnership with
its Co-Branding Partner under a co-branding arrangement and available through the App or Website.
3. ISSUANCE AND USAGE OF THE PPI

a. GENERAL

(i) The User acknowledges and understands that the PPI is the sole and exclusive property of Razorpay
and is non-transferable in nature.

(ii) The User acknowledges and understands that the issuance of each PPI shall be the sole prerogative of
Razorpay, and nothing contained in these Terms and Conditions should be construed as an obligation
on Razorpay to issue PPI(s) to any person.

(iii) The PPI may be issued as a digital wallet or a gift instrument. Razorpay may subsequently issue the
PPI in such form i.e., virtual or physical, as it may determine in its sole and absolute discretion and
these Terms and Conditions would apply mutatis mutandis to all forms of the PPI. All digital PPIs
shall be restricted to ‘card-not-present’/electronic commerce Transactions.

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 (iv) The User shall provide to Razorpay, and/ or Co-Branding Partner shall procure the provision of, any
and all documents as Razorpay may require in order to comply with the requirements of the KYC
Master Direction or other Applicable Law prior to/ after the issuance of PPI.

(v) Any changes to these Terms and Conditions or any business rules or processes connected to the PPI
shall be notified on Razorpay’s website and such publication shall be construed as sufficient notice to
the User. The User shall stay updated about any improvements, versions, modifications relating to the
PPI which would be published on Razorpay and/or Co-Branding Partner’s websites. Continued use of
the PPI by the User constitutes acceptance of the Terms and Conditions as they may be updated from
time to time.

(vi) The User understands and acknowledges that no interest shall be payable on the monies stored in a
PPI.

(vii) The User acknowledges and understands that Razorpay shall not be responsible for and does not make
any commitment for the provision of access to the App and/or Website, including any risks and costs
associated therewith, or the same being provided in an uninterrupted and error-free manner.

(viii) The User hereby agrees that the monies stored in the PPI shall be utilized only for such Transactions
as may be offered by Co-Branding Partner in consultation with Razorpay and that User shall not be
entitled to require that the value stored in its PPI be converted to cash.

(ix) User understands that the PPI enables the User to transact through the App or Website using security
credentials (for instance: MPIN) and all Transactions shall be deemed to be bona-fide Transactions.

(x) User acknowledges and understands that as a condition to availing the PPI, Razorpay shall be entitled
to, and User hereby expressly authorizes Razorpay to, issue SMS and/or e-mail alerts for any
Transactions carried out on such User’s PPI.

b. ELIGIBILITY

(i) The PPI and the services connected thereto are only available to individuals who are:

● At least 18 years of age; and

● Are not a Politically Exposed Person.

(ii) By registering for the PPI, User represents that it is eligible to hold a PPI in accordance with the
aforesaid qualifications.

(iii) Razorpay reserves the right to immediately suspend/terminate any PPIs if Razorpay has any reason to
believe that a User does not meet the eligibility requirements stipulated herein or as otherwise stated
under Applicable Law.

c. REGISTRATION

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 In order to avail the PPI and services related thereto, the User must register on the App or Website in
accordance with the procedure laid out therein.

d. ACCURACY OF INFORMATION

The User shall be responsible for the accuracy and correctness of all information furnished in
connection with the PPI. Razorpay accepts no liability for any consequences arising out of erroneous,
incorrect or incomplete information provided by User. The User is required to promptly notify
Razorpay in the event there is any error in the information provided to Razorpay or Co-Branding
Partner. Razorpay shall remedy or correct the error wherever possible on a ‘reasonable efforts’ basis.
In the event Razorpay finds that any information provided by User is prima facie, incorrect or
inaccurate, Razorpay shall be entitled to terminate such User’s access to the PPI and related services
and effect closure of the PPI and forfeiture of any amounts contained therein.

e. APPLICABLE LIMITS

(i) Small KYC PPI (no cash loading)

● The PPI shall be reloadable from a bank account or credit card or Full KYC PPI only and
shall not be reloadable through cash.
● The amount loaded during any month shall not exceed Rs. 10,000/-.
● The total amount loaded during a financial year shall not exceed Rs. 1,2 0,000/-.
● The total amount outstanding at any given point of time shall not exceed Rs. 10,000/-.
● The total amount debited in any given month shall not exceed Rs. 10,000/-
● Fund transfers to bank accounts or PPIs of other PPI Issuers shall not be permitted. However,
where applicable, the funds may be transferred ‘back to source’ account.
● All Small KYC PPI Users must comply with the applicable KYC requirements within the
aforesaid validity period, failing which the PPI shall expire.

(ii) Full KYC PPI

● Full KYC PPIs will be issued to Users post requisite KYC compliance as provided in the PPI
Master Direction.
● Full KYC PPIs shall be reloadable in nature.
● The amount outstanding at any given point of time shall not exceed Rs. 2,00,000/-.
● Full KYC PPI Users shall be required to provide details of their pre-designated bank account to
which, upon due verification, the outstanding balance may be transferred upon closure or expiry
of validity of the Full KYC PPI.
● Full KYC PPI Users may register beneficiaries by providing the bank account details or the
Small/Full KYC PPI details (as applicable) of such beneficiaries.
● The fund transfer limit to such pre-registered beneficiaries shall not exceed Rs. 2,00,000/- per
month. Razorpay shall set the limits within this ceiling at its sole

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 discretion in accordance with the PPI Master Direction. Funds transfer limits for all other cases
shall be restricted to Rs.10,000/- per month.
● Funds transfer from the PPI may be permitted to other PPIs, debit cards and credit cards as per
the limits given above.Without prejudice to the foregoing the total amount debited in any given
month shall not exceed Rs. 10,000/-.

(iii) Gift PPIs

● The maximum value of each such prepaid gift instrument shall not exceed Rs. 10,000/-.
● A gift PPI is not reloadable.
● Cash-out or funds transfer shall not be permitted for gift PPI.
● Gift PPIs may be revalidated (including through issuance of new instrument) upon the request
of the User.

The limits described hereinabove shall be applicable based on the type of PPI in question.

f. LOADING/RE-LOADING FUNDS

(i) Co-Branding Partner may load monies into the PPI pursuant to or in connection with any goods and/
or services purchased by User on the App or Website; provided, however, that in the event of closure/
termination of the PPI, User shall have the sole discretion to require that such monies are transferred
‘back to source account’.

(ii) In the case of Gift PPI, the funds may be transferred ‘back to source account’ i.e., account of the
purchaser.

(iii) Razorpay reserves the right to subsequently enable Users to apply other modes of loading/re-loading
funds into PPIs.

g. INSTRUCTIONS

(i) The User shall be solely responsible to maintain the secrecy and confidentiality of any security
credentials without any liability to Razorpay.

(ii) The User shall be responsible and liable for all Transactions undertaken through its PPI. All
Electronic Instructions shall be given through the App, Website or such other medium as may be
specified by Razorpay.

(iii) The User agrees that Razorpay and its Affiliates shall be entitled (but not obliged) to place reliance on
and act upon Electronic Instructions received from such User’s registered mobile phone/device using
such User’s security credentials and hold such User solely responsible as if the Electronic Instructions
were carried out and transmitted by User.

(iv) All Electronic Instructions shall be deemed to be unconditional and irrevocable upon transmission
through the App or Website. Razorpay shall be entitled to give effect to Electronic Instructions
without any further consent from or reference to the User.

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 (v) The User may, at Razorpay’s sole discretion, be required to confirm (a) any Electronic Instructions
purporting to be transmitted from their PPI or (b) identify themselves through alternative means in
connection therewith.

(vi) Razorpay shall not have any obligation to independently verify the authenticity of any Electronic
Instruction received or purported to be received from the User. User absolves Razorpay from and
against any liabilities arising out of a risk of miscommunication or error.

(vii) Razorpay may, in its sole discretion, refuse to comply with any Electronic Instruction and shall have
the right to suspend operations of a PPI if it has reason to believe that such Electronic Instruction may
expose User or Razorpay to any direct or indirect Losses.

(viii) Razorpay shall not be responsible for any delay/failure to carry out or give effect to any Electronic
Instructions owing to any reason whatsoever including but not limited to failure of the requisite
systems or as per the requirement of Applicable Law.

(ix) Razorpay shall not be obligated to give effect to any requests for modifying, canceling or reversing
any Electronic Instructions.

(x) Razorpay shall not be obligated to keep and maintain a record of all Electronic Instructions given by a
User. The Transaction details recorded by Razorpay shall be regarded as conclusive proof of the
authenticity and accuracy of Transactions.

h. ACKNOWLEDGMENT OF SECURITY AND INTERNET RISKS

User hereby acknowledges the following security and internet risks in connection with the usage of the
PPI and related services and unconditionally absolves Razorpay from any liability arising therefrom:

(i) User agrees that while the IT Act states that a subscribed may authenticate an electronic record by
affixing its digital signature, Razorpay is authenticating the identity of the User in pursuance of the
Applicable Law and the sole discretion of Razorpay.

(ii) Usage patterns may be monitored by third parties. Third parties may, without your knowledge, gain
access to your usage of the PPI and your communications with Razorpay and/or Co-Branding Partner.

(iii) Usage of the PPI may be exposed to the risks of phishing, identity theft, spoofing, masking and other
similar cybersecurity risks.

(iv) The web browser, mobile phone/device or the computer systems used to access the PPI may be
exposed to viruses and similar malicious programs or code which may adversely interfere with your
usage of the PPI.

i. LOST, STOLEN OR MISUSED PPIs

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 (i) In the event any User suspects that its PPI has been compromised owing to the aforesaid reasons, the
User is required to promptly advise Razorpay to freeze the operations of such PPI.

(ii) Liability of the User for any unauthorized Transactions effected under the aforesaid circumstances
shall be in accordance with these Terms and Conditions.

j. CREDIT FREEZE

PPIs shall be placed under a credit freeze, disabled or otherwise suspended or terminated under the
following circumstances:

● Upon expiry of the validity period of 12 months following the date of registering for the PPI
due to inactivity.

● If Razorpay is of the opinion that fraudulent Transactions may have occurred on the PPI.

● If Razorpay is of the opinion that the use of any PPI may lead to regulatory, reputation or any
other risks as determined by Razorpay in its sole and absolute discretion.

k. SUSPENSION, CLOSURE OR TERMINATION OF PPIs

(i) Notwithstanding anything to the contrary contained herein, Razorpay may, in the following
circumstances, in its sole discretion and without assigning any reason therefore, with immediate
effect at any time (including during the validity period of the PPI), cancel or block or suspend or
withdraw or refuse to renew a User’s PPI with or without prior notice to the concerned User due to
various reasons including, but not limited to:

● If the User is in breach of these Terms and Conditions.

● If Razorpay is of the opinion that the continuance of usage of PPI by User may cause
material harm to its reputation.
● If a User registers or attempts to register multiple PPIs.
● If a User does not meet the eligibility requirements or becomes ineligible subsequently
after registering or using a PPI.
● If Razorpay is of the opinion that a User has furnished false, incorrect or inaccurate
information.
● Death, incapacity or incompetency of a User.
● Non-conversion of Small KYC PPI into a Full KYC PPI in the prescribed time.
● If any suspicious, fraudulent or unauthorized transactions occur on a PPI.
● If the termination of the PPI is required by Applicable Law.
● Any other legal or regulatory requirements as may be applicable.
● If the PPI is inactive for a period of twelve (12) months.

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 (ii) Razorpay’s decision in respect of any matters concerning the PPI (including with respect to
cancellation, suspension, closure or termination of any PPIs) and these Terms and Conditions shall be
final and binding on User.

(iii) In the event Razorpay is notified of the death or incompetence of a User, Razorpay shall suspend all
operations on the concerned PPI.

4. OBLIGATIONS OF THE USER

a. User shall be solely responsible to acquaint itself with the process of using the PPI and all related
technical knowledge including but not limited to safety and security precautions.

b. User shall ensure that its security credentials to access the PPI and access to the mobile/phone device
with the App shall not be shared with anyone and shall immediately notify Razorpay in case of
misuse/theft/loss of the mobile phone/device.

c. User shall be responsible, at its sole cost and expense, to procure, maintain and update/upgrade any
software and/or hardware device or equipment as may be required in order to comply with
Razorpay’s or Co-Branding Partner’s system, from time to time, in order to use the PPI and avail the
related services. Razorpay shall not be obligated to ensure continuing support for any software,
hardware, or operating systems and shall not be liable for any Losses that User may incur or suffer as
a result of any software/hardware incompatibility.

d. The User shall be solely responsible for all transactions, including but not limited to any unauthorized
or erroneous transactions made on the PPI using a User’s mobile phone/device, regardless of whether
or not such transactions are in fact entered into or authorized by it.

e. User understands and acknowledges that it may receive or have access to certain confidential and
proprietary information relating to Razorpay and its Affiliates not generally available to the public,
and any items in any form may or may not be
clearly identified as confidential ("Confidential Information"). User hereby agrees
to keep, hold and maintain all Confidential Information in strict confidence. User
shall not disclose any Confidential Information to any third party without the prior written consent of
Razorpay. These confidentiality obligations shall be binding on the User throughout the term of these
Terms and Conditions and for a period of 5 (five) years thereafter.
5. INTELLECTUAL PROPERTY RIGHTS

a. All right, title and interest in and to the Intellectual Property Rights owned by Razorpay or Co-
Branding Partner or in the PPI (as the case may be) are the sole and exclusive property of Razorpay or
Co-Branding Partner.

b. Nothing contained in these Terms and Conditions shall be construed as a grant of any right, title or
interest in or to the aforesaid Intellectual Property Rights.

6. LIEN & SET-OFF

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 a. Razorpay shall have an absolute and paramount right of lien, irrespective of any other lien or charge,
present as well as future, over the amounts contained in any PPIs to the extent of all outstanding dues,
howsoever arising.

b. Without prejudice to the foregoing, Razorpay shall have a paramount and irrevocable right to reverse any
transactions howsoever undertaken with reference to a PPI where during any scrutiny, audit or
investigation or any action of Razorpay, it is determined that the entry of such transaction was incorrect
or did not meet the applicable rules and regulations.

c. Razorpay shall continue to have a lien on your PPI to recover such costs, damages or liabilities that
Razorpay may incur and will further have the right to recover any shortfall from you.

7. USER LIABILITY FOR UNAUTHORIZED TRANSACTIONS

S. Particulars Maximum Liability of

No. the User

i. Contributory fraud / negligence / deficiency on the part of Nil

Razorpay/Co-Branding Partner (irrespective of whether or not
the Transaction is reported by the User)

ii. Third party breach where the deficiency lies neither with
Razorpay/Co-Branding Partner nor with the User but lies
elsewhere in the system, and the User notifies Razorpay/Co-
Branding Partner regarding the unauthorized Transaction. The
per Transaction User liability in such cases will depend on the
number of days lapsed between the receipt of Transaction
communication by the User from Razorpay and the reporting
of unauthorised Transaction by the User.

i. Within three days* Zero

ii. Within four to seven days* Transaction value or

₹10,000/- per
transaction
whichever is lower

iii. Beyond seven days* Transaction value or

₹5000/- per transaction,
whichever is lower
iii. In cases where the loss is due to negligence by the User, such as where it has shared the
payment credentials, the User will bear the entire loss until it reports the unauthorized
Transaction to Razorpay. Any loss occurring after the reporting of the unauthorized
Transaction shall be borne by Razorpay.

iv. Razorpay may at its sole discretion waive off any User liability in case of unauthorised
Transaction in cases of User negligence.

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 * The number of days mentioned above shall be counted excluding the date of receiving the
communication from Razorpay or the Co-Branding Partner.

In the event User desires to report an unauthorized Transaction or in case of any customer complaints
relating to the PPI, User may contact the designated nodal officer as per the below details:

Vijay Thakral
nodal-officer-wallet@razorpay.com

Prabhakar Tiwari
assistantnodal-officer-wallet@razorpay.com

8. PERSONAL DATA

a. User hereby agrees that any Personal Data and instructions shall be transmitted to and stored at various
locations and shall be accessible to Razorpay and Co-Branding Partner (including their respective
Affiliates).

b. Razorpay and Co-Branding Partner shall be authorized to provide any information relating to Users to
third parties in order to facilitate the provision of the PPI and related services and as may be necessary to
give effect to any instructions.

c. User further agrees that Razorpay and Co-Branding Partner (including their respective Affiliates) shall be
entitled to hold and process Personal Data and any other information relating to the PPI in connection
with the User’s access to and use of the PPI or for analysis, credit scoring, archiving, marketing and
promotional activities.

9. DISCLOSURE OF INFORMATION

User hereby agrees that Razorpay and its Affiliates shall be entitled to disclose to other institutions, in
strict confidence, such Personal Data as may be reasonably necessary for the participation in any
telecommunication or electronic clearing network, fraud prevention, credit rating or such other
reasons as Razorpay deems necessary.

10. DISCLAIMER OF WARRANTIES

a. The PPI/ PPI related services are provided on an ‘AS-IS’ basis and except as expressly warranted under
these Terms and Conditions, Razorpay and its Affiliates disclaim all warranties of any kind, express,
implied or statutory, including but not limited to the implied warranties of merchantability, fitness for a
particular purpose, data accuracy, completeness and any warranties relating to the non-intrusion by any
third-party actors into the PPI.

b. Razorpay and its Affiliates do not make any warranty that the PPI shall be accessible in a timely, secure,
error-free and uninterrupted manner and that the PPI, the App/ the Website and any related services are
free from computer viruses, malicious, destructive or corrupting code, agent, program or macros.

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 c. Razorpay and its Affiliates do not warrant and shall not be responsible for any delay in carrying out or
giving effect to Electronic Instructions due to any reason whatsoever, including due to the failure of
operational systems, technical issues or due to any requirement of Applicable Law.

11. LIMITATION OF LIABILITY

a. Neither Razorpay nor Co-Branding Partner (including their respective Affiliates) shall have any
liability for any unauthorized transactions occurring on any PPI and User hereby absolves Razorpay
and Co-Branding Partner (including their respective Affiliates) therefrom.

b. TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, IN NO EVENT WILL

RAZORPAY (AND ITS AFFILIATES, DIRECTORS, OFFICERS AND REPRESENTATIVES) BE
LIABLE FOR ANY LOSS OR DAMAGE WHETHER DIRECT, INDIRECT, SPECIAL,
PUNITIVE, INCIDENTAL, EXEMPLARY OR CONSEQUENTIAL INCLUDING WITHOUT
LIMITATION ANY ACTUAL OR ANTICIPATED LOSS OF BUSINESS, REVENUE OR PROFITS,
DATA, GOODWILL OR OTHER INTANGIBLE LOSSES WHETHER FORESEEABLE OR NOT
SUFFERED OR INCURRED BY THE USER OR ANY OTHER PERSON ARISING OUT OF OR
IN CONNECTION (I) WITH THE USE OF, THE INABILITY TO USE OR THE
UNAVAILABILITY OF THE PPI; OR (II) ANY DELAY, INTERRUPTION, SUSPENSION OR
ERROR OF RAZORPAY IN RECEIVING AND PROCESSING ELECTRONIC INSTRUCTIONS;
OR (III) FAILURE, DELAY OR ERROR IN THE TRANSMISSION OF ANY INFORMATION TO
OR FROM THE MOBILE PHONE/DEVICE OF THE USER AND RAZORPAY’S SYSTEM; OR
(IV) ANY BUGS, VIRUSES, TROJAN HORSES OR THE LIKE THAT MAY BE TRANSMITTED
TO OR THROUGH THE USE OF THE PPI; OR (V) THE SUSPENSION OR FAILURE OF THE
OPERATIONAL SYSTEM OR NETWORK OF ANY SERVICE PROVIDER WHO IS
PROVIDING SUCH SERVICES AS IS NECESSARY FOR THE PROVISION OF THE PPI AND
RELATED SERVICES.

12. INDEMNIFICATION

User hereby agrees to indemnify, defend and hold harmless Razorpay/Co-Branding Partner and their
respective officers, directors, employees, shareholders, agents, consultants and representatives from
and against all Losses arising out of or in connection or resulting directly or indirectly from any acts
and omissions of User in relation to the use, misuse or purported use of the PPI and related services.

13. TERMINATION

a. Razorpay reserves the right to terminate all or any variant of the PPI by notifying on the App and/or
Website.

b. User may initiate closure of its PPI and/or discontinue availing the PPI and related services by
following the procedures set out in the App /or Website.

14. GOVERNING LAW & JURISDICTION

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 These Terms and Conditions shall be governed by and construed in accordance with the laws of the
Republic of India. User hereby irrevocably submits to the jurisdiction of the courts at Bengaluru,
Karnataka.

15. MISCELLANEOUS

a. Relationship of Razorpay and Co-Branding Partner. Razorpay and Co-Branding Partner are
independent contractors and will not be considered as joint ventures, partners, agents or employees of
each other and nothing contained herein will be deemed to constitute an employer-employee, agency,
association, partnership or similar relationship.

b. Assignment. Razorpay shall be entitled to sell, assign or transfer Razorpay’s rights and obligations
under these Terms and Conditions and any such sale, assignment or transfer shall be binding on Co-
Branding Partner, User and all other relevant parties. User shall not be entitled to sell, assign or
transfer any of its rights and obligations hereunder. User, its heirs, legal representatives, executors,
administrators and successors are bound by these Terms and Conditions.

c. Documents sent by electronic delivery will contain all the information as it appears in the printed hard
copy version as prepared and distributed by the originator, with the possible exception of graphic
insertions such as photographs or logotypes. Electronic delivery may be in the form of an electronic
mail, an attachment to the electronic mail or in the form of a downloadable file on the Website or the
App. Razorpay would be deemed to have fulfilled its legal obligation to deliver to the User any
document if such document is sent via electronic means. Failure to advise Razorpay of any difficulty
in opening a document so delivered within twenty-four
(24) hours after delivery shall serve as an affirmation regarding the acceptance of the document.

d. The clause headings herein are only for convenience and do not affect/be deemed to affect the
meaning of the relative clause.

e. All costs incurred by the User including telecommunication costs to access the PPI/ avail the Service/
s shall be borne by the User.

f. User agrees and expressly authorizes Razorpay, at Razorpay’s sole discretion, and without further
consent of or prior notice to a User, to monitor and record any or all telephone conversations or
electronic communications between User and Razorpay or any Razorpay representatives or agents.

All User grievances to be raised in accordance with the Grievance Policy.

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