Terms & Conditions

Version 1.1 | Effective Date: 26 October 2026

1. GENERAL

1.1 These terms and conditions (“Terms”), together with the Privacy Policy made available on the Platform, constitute an agreement between ASANPAY INNOVATION PRIVATE LIMITED, a company incorporated under the Companies Act, 2013, having its registered office at H No. 103, Street No. 10, Main Bazar, Birla Road, Malout, District Sri Muktsar Sahib, Punjab 152107 (“ASANPAY”, “we”, “us” or “our”) and its super distributors, distributors, retailers and agents (“You”, “Your” or “Retailer”), entitling You to provide the Services (defined below) to Customers in India through the AsanPay website/portal https://asanpay.in and the AsanPay mobile application (together, the “Platform”). These Terms are in addition to any other agreement executed between ASANPAY and You for providing the Services. In case of any inconsistency between these Terms and such agreement, these Terms prevail to the extent of the inconsistency.

1.2 You acknowledge that You propose to be engaged with ASANPAY as its Retailer in order to provide the Services to Customers in India and have therefore started to log in to the Platform. Before You start providing the Services, You must read and understand these Terms. You are shown these Terms at sign-up and login and must tick the box confirming that You have read and agree to them. By ticking the box, logging in, accessing the Platform or providing the Services, You agree to be bound by these Terms. If You do not agree, do not log in and leave the Platform immediately; You will then not be entitled to provide the Services or be associated with ASANPAY as its Retailer.

1.3 Your access to and use of the Platform is voluntary and of Your own accord, and is subject to Applicable Law.

1.4 Nature of ASANPAY’s role. ASANPAY is a technology and distribution platform. ASANPAY is not a bank, and the Services are made available through Service Partners (defined below), such as banks, their business correspondents, authorised payment aggregators, BBPS operating units and other licensed or authorised entities, with whom ASANPAY has arrangements, directly or through intermediaries. The processing, authorisation, settlement and reversal of each Transaction is carried out by the relevant Service Partner on its systems.

1.5 For certain Services, You may not deal in them unless Your account or outlet has been approved or registered by the relevant Service Partner. ASANPAY is not liable if a Service Partner rejects, delays or withdraws such approval.

1.6 The phrase “to provide the Services” or “provisioning of the Services” means onward provisioning, sale, distribution and supply of the Services through the Platform.

1.7 Terms specific to a particular Service, including the terms of the relevant Service Partner as communicated to You, apply to You when You opt for or are enabled for that Service.

1.8 You authorise ASANPAY to share Your details, documents and credentials with Service Partners for onboarding, outlet registration and Service activation, and with prospective customers and business partners of ASANPAY with the objective of increasing Your business, subject to the Privacy Policy.

1.9 All terms, conditions and policies of ASANPAY governing the Services, as published on the Platform, are incorporated into these Terms by reference.

2. DEFINITIONS

In these Terms, unless the context otherwise requires:

2.1 Applicable Law means all applicable laws, statutes, rules, regulations, directions, guidelines, circulars, orders, policies, judgments and decrees of any governmental, statutory or regulatory authority, including the Reserve Bank of India (RBI), National Payments Corporation of India (NPCI), Unique Identification Authority of India (UIDAI), banks and courts of law.

2.2 Authentication Device means any biometric scanner, registered device (RD) service, micro ATM, POS terminal, card reader, mobile phone or other machine, device or software provided to, purchased by, or registered on the account of You for providing the Services, including any replacement, modification, enhancement or upgrade.

2.3 Commission means the commission, margin, incentive or other earning credited to You for Transactions, as shown on the Platform for the relevant Service and period.

2.4 Customers means the end users approaching You to avail the Services, or You yourself where You avail a Service.

2.5 Privacy Policy means the AsanPay Privacy Policy published on the Platform.

2.6 Retailer Location means the shop or office premises owned or rented by You and registered with ASANPAY for rendering the Services to Customers.

2.7 Services means the services made available to You through the Platform for onward provisioning, sale, distribution and supply, which may include: (i) Aadhaar Enabled Payment System (AEPS), Aadhaar Pay and micro ATM services; (ii) domestic money transfer (DMT); (iii) Bharat Bill Payment System (BBPS) bill payments and mobile/DTH recharges; (iv) cash collection (CMS) services; (v) PAN card application services; (vi) facilitation of travel bookings; (vii) referral or distribution of loans, insurance, accounts and other financial products of Service Partners; and (viii) any other services made available on the Platform from time to time, in each case only to the extent enabled for Your account.

2.8 Service Partner means a bank, business correspondent, payment aggregator, BBPS operating unit, API provider, technology service provider or other entity through whom ASANPAY makes a Service available, directly or indirectly.

2.9 Transactions means the electronic transactions undertaken by You for the onward provisioning, sale, distribution and supply of the Services to Customers through the Platform, whether successful, pending, failed, reversed or disputed.

2.10 Upline means the super distributor or distributor under whom Your account is mapped on the Platform.

2.11 Wallet means the trade balance ledgers maintained for Your account on the Platform, including the MAIN wallet and the AEPS wallet, and any other wallet introduced by ASANPAY.

3. CODE OF CONDUCT

3.1 Customer service

(a) Customer information, including Service details, fees, charges, transaction limits and terms, must be displayed at the Retailer Location so that it is prominently visible to approaching Customers.

(b) Customers must be attended attentively and their doubts and queries clarified with Your best effort.

(c) Any dispute or Transaction error at the counter must be resolved, or raised to ASANPAY, before the Customer leaves the counter.

(d) You must prominently display at the Retailer Location the customer grievance policy, the complaint redressal mechanism and the contact details for complaint redressal, as provided by ASANPAY.

(e) You must display proper ASANPAY signage and customer care contact details, including grievance officer details, as provided by ASANPAY.

3.2 Workplace conduct

You must maintain honesty and transparency at every stage of carrying out the Services; ensure that the dignity, privacy and personal rights of Customers are respected; and work with people of all genders, cultures, religions and backgrounds in a professional manner. You must not discriminate against, harass or offend anyone by any means.

4. CONFLICT OF INTEREST

4.1 Conflicts of interest can occur if business practices sacrifice the interests of one set of Customers in favour of another or place business interests ahead of Customers.

4.2 You must be sensitive to any activity, interest or relationship that might interfere, or appear to interfere, with Your ability to act in the best interests of Customers and ASANPAY.

5. INFORMATION SECURITY – DO’S AND DON’TS

5.1 You must: properly control access to Your work area, computers and mobile devices; protect the physical security of official information; and limit access to information strictly to persons with a legitimate business reason.

5.2 You must not: discuss sensitive or confidential information in public places; transfer official information into personal databases or carry hard copies outside the office except for official purposes; disclose Your Platform username, password or MPIN to anyone; share passwords or sensitive financial details by email or messaging apps; or open emails, links or attachments from unidentified sources.

6. PHISHING NOTICE

6.1 Always check for the correct website address https://asanpay.in and use only the official AsanPay app. Do not enter Your login or other sensitive information on any other website or app.

6.2 Change Your password and MPIN periodically (recommended every 3 months). Do not share Your ID, password, MPIN or OTP with anyone.

6.3 Phishing is a fraudulent attempt, usually made through social media, email, phone calls (including IVR), SMS or WhatsApp, to obtain Your personal and confidential information; fraudsters may claim to be in a position of authority. Phishing can also happen through shared or virus-infected systems, so log in only from a system free of viruses and malware. Fraudsters may also collect information from discarded devices (hard drives, pen drives, phones), through unverified downloads or external devices, or by offering a gift or benefit in exchange for information.

6.4 ASANPAY never sends social media messages, emails, SMS or WhatsApp messages, or calls You, to ask for Your password, MPIN, OTP or personal information. Any such request is an attempt to fraudulently withdraw money from Your Wallet. Never respond to it and report it immediately to help@asanpay.in.

6.5 Some websites or apps may copy the design of the AsanPay Platform. Always check the website address or app publisher before entering Your credentials, and report any phishing activity to help@asanpay.in.

7. KNOW YOUR CUSTOMER (KYC) / ANTI-MONEY LAUNDERING

7.1 You must always strictly follow the KYC policy of ASANPAY and of the relevant Service Partner, and provide all documentation required under that policy promptly, from time to time, as directed.

7.2 You understand and acknowledge that: (i) money laundering legislation criminalises money laundering in respect of all crimes, including drug trafficking, terrorism, theft, tax evasion, fraud, handling of stolen goods, counterfeiting and blackmail; (ii) it is an offence to undertake or facilitate transactions with individuals and entities involved in criminal activity; and (iii) You must comply with all Applicable Law, including the Prevention of Money Laundering Act, 2002.

7.3 You must report to ASANPAY all suspicious activities and Transactions where there is a concern of money laundering, regardless of the amount involved or the nature of the offence. Failure to report suspicious transactions despite having knowledge is an offence.

7.4 You must not assist any person to launder the proceeds of any crime, or prejudice an investigation by informing (“tipping off”) the person who is the subject of a suspicious transaction.

8. GENERAL OBLIGATIONS

8.1 You must provide full support and cooperation to ASANPAY and promptly furnish all information, papers and documents in connection with any enquiry, investigation or audit by ASANPAY, a Service Partner or any regulatory or governmental authority, and You consent to ASANPAY sharing Your information, details, credentials and documents with any such authority or Service Partner as required.

8.2 You must ensure that Customers visiting the Retailer Location are informed about the Services, the terms governing them, the grievance redressal mechanism and any other details required by Applicable Law or ASANPAY.

8.3 You must inform Customers that the Services are provided through the AsanPay Platform.

8.4 All terms of these Terms are material to Your engagement with ASANPAY, and You agree to comply with them. Your obligations apply jointly and severally to You and Your permitted assigns and, as far as permitted by law, bind Your legal heirs, executors and successors.

8.5 You must not cede or assign any of Your rights or obligations under these Terms without the prior written consent of ASANPAY.

8.6 You agree to abide by all terms, conditions and obligations published elsewhere on the Platform, which are incorporated into these Terms by reference.

8.7 You are not, and must not claim to be, an employee of ASANPAY, any Service Partner or any Customer.

8.8 You must, at all times, comply with the instructions, directions, guidelines and policies issued by ASANPAY and the Service Partners relating to the Services, and maintain and preserve all records, registers and information required under Applicable Law (including NPCI and RBI guidelines for BBPS, AEPS and payment systems, and KYC/AML/CFT norms), which must be available for inspection and audit by ASANPAY, Service Partners, RBI, NPCI or other competent authorities.

8.9 You consent to receive transactional and promotional messages from ASANPAY and its Service Partners through SMS, email, calls (human or pre-recorded), in-app notifications and WhatsApp. You may opt out of promotional messages at any time through the Platform or by contacting support; transactional and service messages will continue.

8.10 You must cooperate in good faith to correct any practice found deficient during an audit or inspection, within a reasonable time after receiving the audit report.

8.11 You must deal with and resolve all queries, disputes and complaints of Customers in relation to the Services provided by You, and You are responsible for resolving complaints and disputes raised by Customers or third parties against You. ASANPAY is not liable for any dispute between You and a Customer or third party.

8.12 You must not accept any gift, commission or gratification in cash or kind from any person dealing with ASANPAY, and must immediately report any such offer to ASANPAY.

8.13 You are solely responsible for paying salaries and other employee-related payments to Your staff, for their insurance, and for compliance with all labour and employment laws; ASANPAY has no responsibility for the same.

8.14 You must, at Your own risk and cost, maintain the Retailer Location in proper condition for rendering the Services, and keep complete and proper accounts of the Services rendered.

8.15 You must not indulge in or promote any unlawful, illicit or illegal activity while providing the Services.

8.16 ASANPAY officials and Service Partner representatives may visit the Retailer Location on any day to verify the authenticity of the information provided by You or Your performance under these Terms.

8.17 You must facilitate digital identification and verification of Customers as enabled on the Platform before initiating any Transaction. You must not collect or keep in Your custody the KYC documents, Aadhaar details or biometric data of Customers. Where required, You must submit the Customer registration form and KYC in the manner provided by ASANPAY.

8.18 You must discharge Your obligations towards Customers promptly and without failure, and have suitable arrangements and controls to avoid default or delay in delivery of the Services.

8.19 You must promptly inform ASANPAY in writing or by email of any change in Your business details, mobile number, email, address, Retailer Location or bank details.

8.20 You must hold all licences and registrations required to run Your business and undertake the Transactions.

8.21 You permit ASANPAY and the Service Partners to use Your personal information (including sensitive personal data) to process and provide the Services, and to share it with government, statutory, regulatory and law-enforcement authorities and payment networks for monitoring and reporting, as described in the Privacy Policy.

8.22 You must not host, display, upload, modify, publish, transmit or share any information that: belongs to another person without right; is harmful, harassing, defamatory, obscene, pornographic, paedophilic, invasive of privacy, hateful, racially or ethnically objectionable, or relates to money laundering or gambling; harms minors; infringes any patent, trademark, copyright or other proprietary right; violates any law; deceives or misleads about the origin of a message; impersonates another person; contains viruses or malicious code; threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states or public order; or is false, inaccurate or misleading.

8.23 Network hierarchy

(a) ASANPAY operates a network of super distributors, distributors and retailers. Your role, Upline and permissions are as shown on the Platform.

(b) Fund requests, Wallet top-ups and fund transfers between network members must be made only through the Platform flows enabled for Your role. Any off-platform arrangement between network members is at their own risk.

(d) A super distributor or distributor must not onboard or support any retailer it knows or suspects to be engaged in fraud or misuse, and must cooperate with ASANPAY in any investigation of its downline. An Upline is not liable for a retailer’s fraud except to the extent of its own participation, negligence or breach.

8.24 Advertising and representation

(a) You must provide adequate space at the Retailer Location for display, branding and marketing of the Services as per ASANPAY’s guidelines and the requirements of Service Partners and regulators.

(b) In all dealings with third parties You must describe Yourself only as a retailer/agent of ASANPAY, and not as an employee of ASANPAY or of any bank, nor represent ASANPAY in any other manner.

(c) You must not publish any article or statement, or make any communication to the press or on social media, of a malicious or wrongful nature relating to the Services or ASANPAY, without ASANPAY’s written permission.

(d) You must not give any guarantee, warranty or representation on behalf of ASANPAY about the Services other than those provided by ASANPAY in writing, and must not use misleading advertising or make false representations about the Services or the Platform.

(e) ASANPAY may, at its discretion, provide advertising support, technical and marketing guidance and training. You must not use ASANPAY’s name or logo on slips, receipts, visiting cards, letterheads or advertisements without ASANPAY’s written approval.

(f) You must not do anything that damages the name, goodwill or reputation of ASANPAY, its affiliates, Service Partners or clients.

(g) You must display the charges and fees for the Services as advised by ASANPAY or required by Applicable Law, any certificate of authorisation or training issued to You, and the grievance redressal policy, in the manner communicated by ASANPAY. Where You act as a business correspondent agent of a bank, or as a service provider or merchant of a prepaid payment instrument (PPI) issuer through a Service Partner, You must put up the signage required by that bank or issuer, display any certificate issued to You, and disclose the name of ASANPAY, the contact details of the bank’s base branch or the issuer, the banking ombudsman details and the fees charged for the Services.

8.25 Technology-related obligations

(a) You must integrate Your hardware and software with ASANPAY’s systems as and when required for seamless rendering of the Services.

(b) You must maintain the strict secrecy and confidentiality of Your user ID, password, MPIN and OTPs and must not disclose them to any third party. You are solely responsible for any unauthorised use or disclosure of them, and ASANPAY is not liable for any loss arising from such use or disclosure.

(c) You must bear all costs of establishing and maintaining Your internet connectivity, devices and infrastructure for the Services.

(d) You must ensure the availability of the required system, hardware, software, network, biometric scanners and other devices at the Retailer Location.

(e) You must promptly notify ASANPAY if there is an error in Your connection or You are unable to process Transactions for any reason.

(f) You must not compromise the integrity and robustness of the systems, network, Platform or any hardware or software used for the Services, and are solely responsible for keeping Your hardware and software free from malware, viruses, trojans and similar code.

(g) You must not sell, redistribute, reproduce, modify, decompile, disassemble or reverse engineer any part of the Platform, or use it for any unlawful purpose, and must not permit any third party to use the Platform.

(h) ASANPAY, Service Partners, RBI and NPCI may periodically review Your security practices and controls, and You must immediately disclose any security breach that comes to Your knowledge.

(i) ASANPAY may temporarily suspend Your access to the Platform or a Service in case of system instability, an emergency, or downtime or instruction of a Service Partner.

(j) You must have adequate safeguards to protect the privacy and confidentiality of sensitive Customer data (bank details, passwords, card details, PINs, Aadhaar and biometric data) in line with industry standards and Applicable Law.

(k) You must comply with the Digital Personal Data Protection Act, 2023, the Information Technology Act, 2000 and the rules made under them in the processing, storage and transfer of personal data.

8.26 Transaction-related obligations

(a) You must at all times maintain sufficient balance in Your Wallet for the Services. The Transaction amount and any other amount payable by You are debited from the Wallet in real time, and Commissions payable to You are credited to the Wallet. The Transaction amount must not exceed the Wallet balance at any time. You must replenish the Wallet as required, only through the methods enabled on the Platform. The Wallet must be funded only through banking channels (bank transfer, UPI or an approved fund request) and never by handing over cash to any person.

(b) You must give Customers confirmation of each Transaction through the system-generated receipt (physical or electronic).

(d) You must not charge any fee to Customers for the Services, except as specified by ASANPAY in writing. You must not take any additional fee directly from a Customer on behalf of ASANPAY.

(e) You must conspicuously disclose the charges and fees for the Services at the Retailer Location.

(f) You must take all necessary care and due diligence while carrying out Transactions and are wholly responsible for any liability arising from failure to do so. You must enter Customer details correctly; ASANPAY is not liable for any wrong Transaction caused by incorrect details entered by You.

(g) You must maintain the secrecy of Transactions in accordance with the Fair Practices Code of the Indian Banks’ Association and other applicable regulations.

(h) You must maintain sufficient cash at the Retailer Location for undertaking cash-based Transactions.

(i) You must reimburse ASANPAY for any chargeback, dispute or recovery raised by a Service Partner, bank or network in respect of Your Transactions.

(j) You must not keep or store any data relating to Transactions or payments, except the Transaction logs and receipts available on the Platform. You must not download or export Transaction or Customer data from the Platform except the receipts and statements the Platform provides.

(k) You must reconcile Your Transactions and Wallet statement daily and report any discrepancy, missing credit or settlement issue to ASANPAY within 2 (two) working days.

(l) Transaction status, reversal and refund timelines are determined by the systems of the relevant Service Partner, bank or network. ASANPAY will raise and follow up disputes with the Service Partner on Your behalf, but the final outcome depends on the Service Partner’s process.

(m) Set-off, recovery and hold. You authorise ASANPAY to debit, recover or set off from any balance in Your MAIN, AEPS or other Wallet, or from any amount payable to You: (i) chargebacks, disputes and recoveries raised by a Service Partner, bank or network; (ii) amounts credited to You by mistake, as a duplicate, or on a Transaction later failed or reversed; (iii) Commissions on Transactions later found to be fraudulent, improper or reversed; (iv) fines, penalties or liquidated damages under these Terms; and (v) any other amount due from You. ASANPAY may hold all or part of Your Wallet balance while an investigation into suspected fraud, chargeback or misuse is pending, or where directed by a Service Partner, bank, regulator or law-enforcement agency.

(n) You must, on a monthly basis and whenever asked by ASANPAY, confirm the number of Customer registrations (if any) done on Your behalf, with details of the related Transactions and their purpose.

9. SYSTEM REQUIREMENTS AND AUTHENTICATION DEVICES

9.1 You must ensure that all equipment used for the Services, whether provided by ASANPAY or a Service Partner or purchased by You, is kept in good working order and condition.

9.2 You must safe-keep and control the use of the Authentication Device. Any Transaction carried out through You using the Authentication Device is deemed authorised by You, and You are responsible for all Transactions initiated from the Authentication Device or account assigned to You.

9.3 You must use only UIDAI-registered, STQC-certified biometric devices with a valid RD service for Aadhaar-based Services, and keep the Authentication Device updated with the patches and upgrades prescribed by RBI, NPCI, UIDAI or the Service Partner.

9.4 ASANPAY may charge You the cost of repairing or replacing any device provided by ASANPAY that is damaged by improper handling, payable on demand.

9.5 You must not conclude a Transaction in the event of a breakdown or failure of the Authentication Device.

9.6 You must not sell, assign, transfer, lease or create any encumbrance on a device provided by ASANPAY; must not remove or alter any markings or tags on it; and must not permit any third party to maintain, modify or tamper with any Authentication Device, or share Transaction files or Customer details, without ASANPAY’s prior written consent.

9.7 You must immediately notify ASANPAY of any seizure or loss of an Authentication Device, by written intimation and on the support number, and must inform ASANPAY of any breakdown or inaccessibility of an Authentication Device within 24 hours.

9.8 Any liability, including to Customers, arising out of the inaccessibility of an Authentication Device for a reason attributable to You will be borne by You.

9.9 To access the Platform You need an internet-enabled desktop, laptop or mobile device that meets the technical specifications required by the Platform, with licensed and original operating system, antivirus and other software.

10. CHARGES AND PAYMENTS

10.1 Unless otherwise agreed in writing, You agree to pay ASANPAY any onboarding, ID activation or registration charge intimated by ASANPAY for providing the Services through the Platform. Such charge is non-refundable in any circumstance and is towards ASANPAY’s set-up and maintenance costs.

10.2 ASANPAY may levy integration charges, outlet or device registration charges payable to Service Partners, software or Platform upgrade fees, or other fees to recover the cost of installation or upgrade at Your end.

10.3 The charges, Commissions and payments for the Services are as prevailing on the date of the Transaction, as communicated by email, SMS, the Platform or any other mode from time to time, and are subject to TDS, GST and other taxes under Applicable Law. Commission rates may change when the pricing of a Service Partner changes.

10.4 For AEPS Services, no service fee of any kind may be recovered or charged by You from Customers.

11. CONFIDENTIALITY

11.1 You must treat as confidential, and must not disclose or make public, any Confidential Information of ASANPAY or its Service Partners that You gain access to while accessing and using the Platform.

11.2 “Confidential Information” includes, without limitation: Customer names and other Customer information, including KYC details and details of Transactions; price lists, commission structures, pricing policies and financial information; software, source code, APIs, designs, specifications, data, documentation, processes, know-how, and marketing materials and plans received from ASANPAY; and any information received from ASANPAY or any third party under these Terms.

11.3 These confidentiality obligations continue after Your engagement ends.

12. SUSPENSION OF SERVICE

12.1 ASANPAY may, at its sole discretion, temporarily deny, limit or suspend Your login and access to the Platform and the Services, hold Your Wallet under Section 8.26(m), levy liquidated damages, pursue any remedy available under Applicable Law, or terminate Your engagement immediately, without liability to You and without notice, on the occurrence of any of the following (each an “Event of Default”):

(a) You are found to be in material violation, breach or non-compliance of these Terms or the Privacy Policy; (b) You are found to be involved in gross negligence, serious misconduct, any undesirable activity or any criminal offence, including cyber crime, fraud, forgery, misappropriation of funds or breach of trust, or criminal proceedings are pending against You; (c) You are found to be overcharging Customers or collecting fees or charges other than those specified by ASANPAY; (d) there are frequent Customer complaints against You, or You misbehave with any Customer, or complaints continue after repeated warnings; (e) in the opinion of ASANPAY, a breach is not curable, or Your continuation is not desirable or poses a grave systemic risk; (f) You no longer meet the eligibility criteria set by ASANPAY, a Service Partner or any regulatory authority; (g) You fail to comply with Applicable Law; (h) You abuse Your rights to provide the Services; (i) You do any act likely to be harmful to or defamatory of ASANPAY, its Service Partners, Customers or any third party; (j) You use the Services to perform, facilitate or induce an illegal act; (k) You make public any confidential or proprietary information of ASANPAY or the Services without prior written consent; (l) a Service Partner, bank, network, regulator or law-enforcement agency directs ASANPAY to block, suspend or deactivate You, or reports suspicious activity on Your account; or (m) Your continuation as a Retailer poses a risk to ASANPAY, as decided by ASANPAY in its sole discretion.

13. TERMINATION, EFFECTS OF TERMINATION

13.1 Termination

(a) ASANPAY may terminate Your engagement, without liability to You and without assigning any reason, by giving You 15 (fifteen) days’ prior written notice. You may terminate Your engagement by giving ASANPAY 30 (thirty) days’ prior written notice.

(b) ASANPAY may terminate Your engagement immediately by written notice, without liability to You, if there is: (i) any fraud, gross negligence or wilful misconduct by You; (ii) any material adverse change in the business environment; (iii) any change in Applicable Law; (iv) any requirement or direction of a Service Partner that prevents continuation of the arrangement; or (v) termination, suspension or withdrawal of ASANPAY’s arrangement with a Service Partner, or of any licence, approval or permission given by any authority, bank or Service Partner.

(c) ASANPAY may terminate Your engagement immediately by written notice if You cease or threaten to cease all or a substantial part of Your business, become insolvent, make an assignment for the benefit of creditors, have a receiver appointed, or an order is made for Your winding up (other than for amalgamation or reconstruction).

13.2 Effects of termination

(a) On termination for any reason: You must stop representing ASANPAY in any dealing with any third party; all rights granted under these Terms end and Your login and access to the Platform are terminated; You must promptly return, in good condition, all assets, devices, materials, manuals and documents provided by ASANPAY, and remove ASANPAY signage; and You are not entitled to claim any loss or compensation for the termination.

(b) Wallet balance. After all pending Transactions, chargebacks, disputes and reconciliations are settled and amounts due from You are recovered under Section 8.26(m), ASANPAY will refund the remaining Wallet balance to Your verified bank account within 7 (seven) working days. The refund may be held for longer where an investigation, legal requirement or direction of a Service Partner, bank or authority requires it.

(c) Termination does not affect any rights or obligations that accrued before termination or that are expressed or intended to continue after termination.

(d) ASANPAY may continue to use the information supplied by or collected from You for its audit, legal and compliance purposes, as described in the Privacy Policy.

14. INDEMNIFICATION

14.1 You agree to indemnify and hold ASANPAY, its Service Partners, contractors, vendors, affiliates, and their respective officers, directors, shareholders and employees, harmless from any claim, liability, damage, cost, loss, demand, expense, chargeback, charge and penalty, including reasonable attorneys’ fees, made by any third party in connection with or arising out of: (i) Your provisioning of the Services; (ii) any act or omission by You amounting to non-compliance with these Terms; (iii) any breach of Applicable Law by You; (iv) any fraudulent, illegal, unlawful or undesirable practice, negligence or mischief on Your part; (v) any infringement of the intellectual property rights of any third party by You; (vi) any unauthorised use of the Services or devices by You; or (vii) the occurrence of any Event of Default.

15. DISCLAIMER OF WARRANTIES

15.1 ASANPAY EXPRESSLY DISCLAIMS ALL EXPRESS AND IMPLIED WARRANTIES WITH RESPECT TO THE USE OR PROVISIONING OF THE PLATFORM AND THE SERVICES, WHICH ARE PROVIDED WITHOUT ANY GUARANTEE OR ASSURANCE OF QUALITY OR RELIABILITY.

15.2 ASANPAY DOES NOT WARRANT THAT THE USE OF THE PLATFORM WILL NOT CAUSE DAMAGE TO YOUR DEVICE OR SYSTEM. YOUR USE OF THE PLATFORM AND PROVISION OF THE SERVICES IS, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, AT YOUR OWN RISK.

15.3 ASANPAY DOES NOT WARRANT THAT THE PLATFORM OR THE SERVICES WILL BE SUITABLE FOR YOUR NEEDS, OR WILL OPERATE IN AN UNINTERRUPTED, TIMELY, SECURE OR ERROR-FREE MANNER, OR THAT THEY WILL BE FREE FROM TECHNICAL INACCURACIES, VIRUSES OR OTHER HARMFUL CODE. IT IS YOUR RESPONSIBILITY TO IMPLEMENT APPROPRIATE SECURITY SAFEGUARDS.

15.4 YOU ACKNOWLEDGE THAT THE ROLE OF ASANPAY IS LIMITED TO PROVIDING THE PLATFORM, AND THAT THE SERVICES ARE PROCESSED BY SERVICE PARTNERS ON THEIR OWN SYSTEMS. ASANPAY IS NOT RESPONSIBLE FOR ANY ACT, OMISSION, DELAY, DOWNTIME, ERROR, DECISION OR FAILURE OF ANY SERVICE PARTNER, BANK, NETWORK, BILLER, UIDAI OR NPCI.

15.5 THE PLATFORM, SERVICES AND ANY HARDWARE, DOCUMENTATION, SOFTWARE OR EQUIPMENT PROVIDED BY ASANPAY ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. THEIR AVAILABILITY AND QUALITY MAY BE AFFECTED BY NETWORK CONNECTIVITY, INTERNET ISSUES, SERVER BREAKDOWN, SCHEDULED DOWNTIME, OTHER TECHNICAL ISSUES, OR UNAVAILABILITY AT THE END OF ANY SERVICE PARTNER, BANK OR AUTHORITY.

15.6 ASANPAY MAY USE, SUBJECT TO THE PRIVACY POLICY, ANY INFORMATION SUPPLIED BY YOU WHILE ACCESSING THE PLATFORM AND PROVIDING THE SERVICES.

16. LIMITATION OF LIABILITY

16.1 TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, ASANPAY, INCLUDING ITS OFFICERS, DIRECTORS, SHAREHOLDERS, EMPLOYEES, BUSINESS ASSOCIATES AND AFFILIATES, WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL OR CONSEQUENTIAL DAMAGE, OR ANY OTHER DAMAGE OR LOSS (INCLUDING LOSS OF PROFIT, LOSS OF DATA AND WORK STOPPAGE), COSTS, EXPENSES OR PAYMENTS, WHETHER IN CONTRACT, TORT OR OTHERWISE, OR FROM ANY FAILURE, ERROR OR DOWNTIME IN THE SERVICES.

16.2 WITHOUT PREJUDICE TO THE ABOVE, THE AGGREGATE LIABILITY OF ASANPAY FOR ANY REASON WHATSOEVER WILL NOT EXCEED RS. 100/- (RUPEES ONE HUNDRED ONLY).

16.3 This limit does not apply to ASANPAY’s obligation to refund Your own undisputed Wallet balance in accordance with these Terms.

17. DAMAGES

17.1 On the occurrence of any Event of Default, ASANPAY may, without prejudice to its other rights, impose liquidated damages up to the value of the fraud or the direct damages caused by You per instance, and You agree to pay the same on demand without demur.

17.2 You are liable to pay or indemnify ASANPAY for any fine or penalty imposed by any statutory, regulatory or governmental authority, RBI, NPCI, a Service Partner or a court in connection with Your acts or omissions while providing the Services. ASANPAY may set off or adjust such fine or penalty from Your Wallet or any payment due to You.

17.3 For the purposes of this Section, “You” includes Your employees, officers, agents, representatives, successors and assigns.

18. AMENDMENTS TO THE TERMS

18.1 ASANPAY may amend and modify these Terms and the Privacy Policy from time to time, including any documents and policies incorporated in them, by publishing the updated version on the Platform. You agree to be bound by such changes. ASANPAY may ask You to accept the updated Terms at Your next login. Continuing to access the Platform and provide the Services indicates Your acceptance of the amended Terms. If You do not agree with any amendment, You must stop using the Platform and providing the Services. You should read these Terms periodically.

19. GRIEVANCE REDRESSAL AND GRIEVANCE OFFICER

Level 1

Customer Support

For any query or complaint, contact:

Phone: 9780777781

Email: help@asanpay.in

Hours: Business days (except public holidays)

Level 2

Grievance Officer

If You are not satisfied with the resolution at Level 1, escalate by emailing our Grievance Officer, mentioning Your earlier complaint reference:

Name: Ajay Kumar

Designation: Director & Grievance Officer

Email: help@asanpay.in (subject: “Attn: Grievance Officer”)

Hours: Business days (except public holidays)

Level 3

Nodal Officer

If Your issue remains unresolved after contacting the Grievance Officer, escalate to:

Kind attention: Ajay Kumar, Director

Email: help@asanpay.in (subject: “Attn: Grievance Officer”)

Address: ASANPAY INNOVATION PRIVATE LIMITED, H No. 103, Street No. 10, Main Bazar, Birla Road, Malout, District Sri Muktsar Sahib, Punjab 152107

Phone: 9780777781 (business days, except public holidays)

19.1 Complaints are acknowledged within 24 hours and resolved within 15 days of receipt, or any shorter period required by law.

20. ENTIRE AGREEMENT

20.1 These Terms, the Privacy Policy and any other agreement between You and ASANPAY constitute the entire agreement governing Your access to the Platform and provision of the Services. Any other agreement executed between ASANPAY and You for the Services applies in addition to these Terms; in case of inconsistency, these Terms prevail to the extent of the inconsistency.

21. GOVERNING LAW AND JURISDICTION

21.1 These Terms are governed by the laws of India.

21.2 Any dispute arising out of or in reference to these Terms or the Services will first be raised through the grievance process in Section 19. If it is not resolved within 30 (thirty) days, it will be referred to a sole arbitrator appointed by mutual consent of the parties or, failing agreement within 30 (thirty) days, appointed in accordance with Section 11 of the Arbitration and Conciliation Act, 1996. The arbitration will be governed by the Arbitration and Conciliation Act, 1996, as amended. The seat and venue of arbitration will be Malout, Punjab, and the proceedings will be conducted in English only. The costs of the arbitration will be borne equally by the parties.

21.3 Subject to the above, the courts at Sri Muktsar Sahib, Punjab have exclusive jurisdiction over all matters which a court is entitled to determine under the Arbitration and Conciliation Act, 1996, including interim relief under Section 9 of that Act.

21.4 Legal communications may be sent by registered post or courier to the registered office stated in Section 1.1, to the attention of the Legal Department, with a copy by email to help@asanpay.in.

22. WAIVER AND SEVERABILITY

22.1 Any failure, delay or neglect by ASANPAY to enforce any provision of these Terms is not a waiver of ASANPAY’s rights and does not affect the validity of these Terms or prejudice ASANPAY’s right to take subsequent action. The remedies under these Terms are cumulative and in addition to any other remedy available at law, in equity or by statute, and the election of one remedy is not a waiver of any other.

22.2 If any provision (or part) of these Terms is held to violate Applicable Law, it will be deemed deleted to the extent of the violation, and the remainder of these Terms will remain in full force. ASANPAY may provide an acceptable alternative provision in place of the deleted provision, which will be binding on You.

23. FORCE MAJEURE

23.1 ASANPAY is not liable for any delay or failure to perform caused by events beyond its reasonable control, including natural disasters, epidemics, war, riots, strikes, government action, regulatory directions, failure or downtime of Service Partners, banks, networks, UIDAI, NPCI, telecom or power systems, or cyber attacks.

24. SURVIVAL

24.1 The indemnities, confidentiality obligations, set-off and recovery rights, limitation of liability, disclaimer of warranties and dispute resolution provisions survive the termination of Your engagement.

25. ASSIGNMENT

25.1 You must not assign or transfer any of Your rights, benefits or interest under these Terms without ASANPAY’s prior written approval. ASANPAY may assign these Terms to its affiliates, a successor in business, or a Service Partner without Your consent.

26. ELECTRONIC ACCEPTANCE AND RECORDS

26.1 These Terms are an electronic record under the Information Technology Act, 2000 and do not require a physical signature. No eSign, Aadhaar eSign or physical signature is required to accept these Terms at sign-up or login; ticking the acceptance box is Your electronic acceptance. When You accept them on the Platform, ASANPAY records Your account identifier, the versions of these Terms and the Privacy Policy shown, the date and time, and the acceptance method (web or app), as evidence of acceptance. Passwords and OTPs are never stored as part of this record.

SERVICE-SPECIFIC OBLIGATIONS

The following obligations apply to You in respect of the specific Services below, when such Services are enabled for Your account, in addition to the terms of the relevant Service Partner.

A. AEPS, Aadhaar Pay and Micro ATM Services

(a) Access to AEPS and Aadhaar Pay is subject to Your outlet being registered and approved by the relevant Service Partner and bank. ASANPAY is not liable for any loss if Your onboarding is denied, rejected or withdrawn by the Service Partner or bank, or for any act or omission of the Service Partner or bank.

(b) You must render AEPS to any Customer who approaches You with his or her Aadhaar number, whether or not the Customer banks with a particular bank, for the Services enabled on the Platform.

(c) You must enter the Aadhaar number in the Platform and ask the Customer to authenticate through a UIDAI-compliant biometric device, confirming the Customer’s explicit consent to authentication.

(d) You must not capture any Aadhaar-related information of Customers except to the extent necessary for the Transaction, and must not under any circumstances store Aadhaar numbers, biometric data or other personal information of Customers in any form.

(e) You must not charge Customers any fee for AEPS Transactions. You must not cause a Customer to pay any surcharge, whether through an increase in price or otherwise, for an Aadhaar Pay Transaction; non-compliance is a material breach.

(f) You must process Aadhaar Pay and AEPS Transactions only within the per-Transaction and daily limits prescribed by RBI, NPCI, UIDAI, the Service Partner or ASANPAY from time to time (for Aadhaar Pay, currently not more than Rs. 10,000 per Transaction, or such other limit as notified).

(g) You must not adopt unethical Transaction practices, including Aadhaar Pay Transactions without a valid purchase, or cash withdrawals without paying the Customer.

(h) You are solely responsible for chargebacks raised for fraudulent Transactions by You or Customers, and for all risks and liability arising out of Transactions, including payment instructions, chargebacks and fraud in relation to Your business.

(i) Funds for successful AEPS and Aadhaar Pay Transactions are credited to Your AEPS Wallet after confirmation from the Service Partner, and may be settled to Your verified bank account in accordance with the settlement options and timelines shown on the Platform.

(j) You must ensure that any software or hardware used does not retain default passwords and that passwords are changed regularly. If You suffer a data compromise, You must provide all information and assistance required for forensic analysis.

(k) You must provide the documents, reports and Transaction evidence required by the Service Partner or bank for any dispute within the time required, handle Customer queries and complaints relating to Your Transactions, train Your staff, and reconcile Transactions daily, reporting any deviation within 2 (two) working days.

(l) For micro ATM or POS-based Services, devices may be purchased from ASANPAY or its technology partner at the price and terms communicated, paid through Your Wallet or bank transfer. Title, risk of loss and the duty to insure pass to You on delivery. Devices are covered only by the manufacturer’s warranty, if any.

(m) Prohibited businesses. You must not use AEPS, Aadhaar Pay or any other Service in connection with: illegal products or services; narcotics or psychotropic substances; counterfeit, replica or stolen goods; gambling, betting, lotteries or casinos; arms and ammunition; adult or escort services; unregulated financial services, chit funds or money-circulation schemes; prescription drugs without a licence; hazardous materials; endangered species, body parts or live animals; hacking materials; tobacco or alcohol where prohibited; or any business requiring a licence that You do not hold. You must not be on any RBI, bank or Service Partner defaulter or negative list.

B. Domestic Money Transfer (DMT)

(a) You must register and verify the remitter and beneficiary as required by the Platform and the Service Partner, and must not split Transactions to bypass limits.

(b) You must enter beneficiary bank details correctly. ASANPAY and the Service Partner are not liable for funds credited to a wrong account due to incorrect details entered by You.

(c) You must accept cash only for an amount equal to the Transaction plus the charges displayed, and issue the system-generated receipt.

C. BBPS, Bill Payments and Recharges

(a) You must enter the biller, consumer number and amount correctly and confirm them with the Customer before submission.

(b) You must follow the BBPS guidelines of NPCI and RBI, issue the BBPS receipt where applicable, and not collect any charge beyond the convenience fee (if any) displayed on the Platform.

(c) Successful payments and recharges cannot be reversed by ASANPAY; refunds for failed Transactions are processed as per the Service Partner’s timelines.

D. Cash Collection (CMS)

(a) You must collect cash only against a valid reference generated through the Platform, deposit or settle it as required by the Service Partner, and issue the receipt.

(b) You must not retain cash collected from a Customer without completing the Transaction.

E. Travel Bookings

(a) Where railway e-ticketing is enabled through an authorised Service Partner, You must describe Yourself only as an authorised e-ticketing agent of that partner and not as an authorised railway agent; display the applicable service charges at the Retailer Location; not modify or tamper with any electronic reservation slip; obtain a written request from the Customer before filing any TDR; refund amounts received from the Service Partner to the Customer immediately (within 3 to 5 days of receipt); and not collect any extra charge for cancellation or checking availability.

(b) For flight, bus and hotel bookings, the cancellation, refund and baggage rules of the relevant airline, operator or hotel apply, and You must explain them to the Customer before booking.

Back to Homepage