Terms and Conditions
Terms
& Conditions of Service
Last
updated: August 30, 2020
This Is The Official Website Of Momentpay Pvt Limited
(“Momentpay”),
<>
.This Website www.momentpay.in That Momentpay May
Specify From Time To Time, ("Website") Is Owned And Operated By Momentpay.
The Access To And Use Of This Website Is Subject To The Following Terms And
Conditions Of Use ("Terms"). Please Read The Terms Very Carefully As
They Shall Apply To All Users Of This Website. A User May Opt For Services
Through This Website Only If He Accepts And Abides By All Of The Terms. Momentpay
May Periodically Change These Terms Without Notice.
Definitions
For
The Purpose Of These Terms, The Following Words And Phrases Shall Have The
Meaning Assigned To Them Under This Article. "Services" Means The
Service Provided By Momentpay And Service Providers To Users, Whereby A User
Can (I) Receive Payments From Their Customers Or Other Payers; Or (Ii) Make
Payment To Suppliers, Beneficiaries Or Other Payees, By (A) IMPS/NEFT/RTGS; Or
(B) Credit/ Debit Card; Or (C) Net Banking; Or (D) Any Other Mode Of Payment
Through Banks, That May Be Accepted By Momentpay From Time To Time In These
Terms.
User
Shall
Mean Any Person Who Is Boarded On The Momentpay Platform For Using This Website
And/Or Who Transacts Or Avails Of The Services Through This Website, To Make Or
To Receive Payments To Or From Third Parties. The Term "User" Shall
Also Cover Such Personnel Of Any User Who Are Authorized To Avail Of The
Services On Behalf Of The User.
Nodal
Account
Means
Such Bank Account Maintained By Momentpay As Required By The RBI Guidelines.
Payee
Means
Any Person To Whom A Payment Is Made, Using The Services, (And The Term
Includes A User Who Uses The Services To Receive Payment.
Payer
Means
Any Person Who Makes A Payment, Using The Services (And The Term Includes A
User Who Uses The Services To Make Payment).
Products
Mean
Any Services Or Products Which Are Purchased/ Offered For Sale By A User To
Third Parties From Time To Time, Using These Services. Products Shall Not
Include Those Banned Products And Services That Are Listed In Annexure A.
Service
Provider
Means
A Bank, Association, Facility Provider, Card Issuing Institution, Acquiring
Bank, Other Financial Institution, Card Processor, Clearing House Networks
Whose Facilities Or Services Are Utilized In The Provision Of These Services.
Transaction
Means
A Payment Instruction That Results In The Successful Transfer Of Monies (A)
From A User To A Payee; Or (B) From A Payer To A User.
Transaction
Amount
Means
The Total Amount Payable/ Receivable By A User/Payee. This Amount Shall Include
All Taxes, Charges, Interest, Delivery Costs, Commissions, Etc.
Eligibility
The Website And Services Are Intended Solely For
Persons Who Can Form Legally Binding Contracts Under Indian Law And Who Are 18
Years Of Age Or Older. Any Access To Or Use Of The Website Or Services By
Anyone Under 18 Is Expressly Prohibited. By Using The Website Or Services User
Represents And Warrants That He Is 18 Or Older And Is Competent To Contract.
User Also Agrees That His Payer/ Payee Is Similarly Competent To Contract.
A User Represents And Warrants That He Has Full Power And Authority For Using The
Services And Is In Strict Compliance Of All Laws.
These Terms And Conditions As Accepted By User Shall Be Read Along With And In
Addition To Any Terms And Conditions In Force From Time To Time And Issued By
Any Service Provider. They Will Also Be Read In Conjunction With The Privacy
Policy
A User May Use The Services And This Website Only If He Accepts And Abides By
All Of The Following Terms And Conditions.
Registration:
In
Order To Avail The Services, User Must Be Registered With Momentpay And The
Service Providers. User Shall Provide Momentpay With All Such Documents As May
Be Required by Momentpay And The Service Provider. The User is strictly
prohibited to use our Services for the Websites/Business not registered with Momentpay
and the Services Providers. The User shall keep Momentpay and the Service
Provider fully indemnified in the event this Clause is breached.
By
Registering With Momentpay, User Agrees To Provide True, Accurate, Current And
Complete Information Failing Which Momentpay May At Any Time Reject User’s
Registration And Terminate His Right To Use Or Access The Website And/Or
Services. When User Registers With Momentpay, A User Account Will Be Created,
That Is Associated With User’s User Name, Password And Other Identifying
Information. User Shall Be Responsible For Anything That Happens Through His
User Account.
Use
of Services:
The Services May Be Used By User For Making And
Receiving Payments From / To Third Parties.
To Enable The User To Use The Services, A Link With Login Credentials Will Be
Communicated To The User On His Mobile Phone Or Email Address And The User
Irrevocably And Unconditionally Accepts The Sole Responsibility For Use,
Confidentiality And Protection Of Said Login Credentials, Including Passwords,
As Well As For All Orders And Information Changes Entered Into The Mobile/ E
Mail Account Using Such Login Credentials.
Momentpay Has No Obligation To Verify The Authenticity Of The Transaction Other
Than By Means Of Verification Of The User’s Basic KYC Information. The User
Shall At All Times Take All Appropriate Steps, Including Those As Mentioned
Herein, To Maintain The Security And Confidentiality Of The Information. Momentpay
Shall Not Be Liable For Any Mistake Or Misuse Of The Services By Either The
User Or By Any Person Authorized By The User, Or By Any Person Gaining Access
To The Services Through The User. User Agrees That Momentpay Accepts All
Instructions Originating From His Account In Good Faith And In A Manner
Consistent With Commercially Reasonable Security Standards. User Shall
Indemnify And Hold Momentpay Harmless For Direct Or Indirect Losses Sustained
As A Result Of The Disclosure Of Sensitive Information By Or Through User.
On Receiving The Necessary Details From The Service Provider, Momentpay Shall
Initiate The Required Payment To Payee/User/ As Instructed By User/ Payer.
Confirmation Of The Transaction Performed Using Valid Login Credentials Shall
Be Conclusive Evidence Of A Transaction Being Effected. User Is Responsible To
Furnish Momentpay With Correct And Current Payee Information. In The Event That
The Payment Is In Respect Of A Purchase Of Products By The User/Payee, Momentpay
Shall Not Be Required To Ensure That The Purchased Products Have Been Duly
Delivered. In The Event A User Chooses To Complain About A Transaction, The
Same Should Be Communicated To Momentpay Within 10 (Ten) Days Of The
Transaction.
User
Obligations:
Each User Shall Be Responsible To (I) Furnish Correct
And Accurate Information Of The Payer/ Payee As May Be Required, On An
Independent Basis; (Ii) Furnish To Momentpay Forthwith On Demand, The Original
Copy/Copies Of Proof Of Delivery Of Products, Invoices Or Other Records
Pertaining To Any Transaction; (Iii) Ensure That All Licenses And Registrations
Required By Him Are In Full Force And Effect To Enable Them To Carry On The
Business Of Sale/ Purchase Of Products.
User Shall Not (I) Carry Out Any Activity, Which Is Banned, Illegal Or Immoral,
(Ii) Use The Services In Any Manner Or In Furtherance Of Any Activity, Which
Constitutes A Violation Of Any Law Or Regulation Or Which May Cause Momentpay
To Be Subject To Investigation, Prosecution Or Legal Action.
User Undertakes And Assures To Momentpay That Payments Shall Not Be Made/
Received In Respect Of Any Products Mentioned In The Banned Items List Set Out
In Annexure A Hereto.
User Shall Not Sell, Provide, Exchange, Or Otherwise Disclose To Third Parties
Or Use Themselves (Other Than For The Purpose Of Completing A Transaction, Or
As Specifically Required By Law) Any Personal Information About Any Third
Party, Including The Account Details And Mobile Number, Without Obtaining The
Prior Written Consent Of Such Third Party.
User Shall Take All Precautions As May Be Feasible Or As May Be Directed By Momentpay
To Ensure That There Is No Breach Of Security And That The Integrity Of The
Link Between Their Systems/ Site, The Website And The Payment Mechanism Is
Maintained At All Times. In The Event Of Any Loss Being Caused As A Result Of
The Link Being Breached Or As A Consequence Of The Link Being Improper Or Being
In Violation Of The Provisions Of This Clause, The Loss Shall Be To The Account
Of The User And The User Shall Indemnify And Keep Indemnified Momentpay And The
Service Providers From Any Loss As May Be Caused In This Regard.
User Shall Bear And Be Responsible For The Payment Of All Relevant Taxes,
Surcharge, Levies (Including Any Applicable Withholding Taxes) As May Be Due.
A User Shall Not At Any Time Require Any Other User To Provide Him With Any
Details Of The Accounts Held By The Other Users With Any Banks Including, The
Passwords, Account Number, Card Numbers, Mobile Phone Numbers And PIN Which May
Be Assigned To Them By The Banks From Time To Time.
A User Shall Use The Information Regarding A Payee/ Payer (Including Name,
Address, E-Mail Address, Telephone Numbers And Other Data) Conveyed To Him
Whist Using The Services, Only For The Purpose Of Completing The Transaction
For Which It Was Furnished, And Not To Sell Or Otherwise Furnish Such
Information To Others Unless He Has An Independent Source Of Such Information
Or Obtains The Express Consent Of Such Payee/ Payer.
A User Shall Inform Momentpay Of Any Change In His Email Address, Mobile
Number, Address, Ownership Or Legal Status Or His Cessation Of Business In
Writing 30 Working Days In Advance Of Such Change.
User Shall Not Interfere With Or Damage The Website, Including, Without
Limitation, Through The Use Of Viruses, Cancel Bots, Trojan Horses, Harmful
Code, Flood Pings, Denial-Of-Service Attacks, Backdoors, Packet Or IP Spoofing,
Forged Routing Or Electronic Mail Address Information Or Similar Methods Or
Technology;
Momentpay Has The Right To Investigate And Prosecute Violations Of Any Of The
Above To The Fullest Extent Of The Law.
Fees
The Acquiring Bank Will Authenticate, Authorize, And
Process The Payment Instructions Given By The Payer In Respect Of A Transaction
Upon Fulfillment Of Valid Criteria As Set Forth By The Acquiring Bank From Time
To Time And Accordingly Transfer Such Approved Transaction Amount From The
Payer’s Bank Account To The Account(S) Maintained By Momentpay In Accordance
With The RBI.
In Consideration Of The Services Rendered By Momentpay To The User, The User
Shall Pay To Momentpay A Fee That Is Agreed Upon In The Fee Schedule Defined In
The Merchant Agreement Or Proposed By Momentpay Over Email To The Registered
Email Address.
Momentpay Shall Deduct Its Transaction Fees Plus Service Tax Per Successful
Transaction, And Make Payment Of The Balance Of The Transaction Amount To User/
Payee’s Designated Bank Account. All Other Taxes, Duties Or Charges Shall Be
Borne And Paid By User, Unless Otherwise Agreed Between The Parties. Momentpay
Reserves The Right To Alter / Modify / Change The Discount / Commission Rate At
Its Discretion. Momentpay Also Reserves The Right To Forthwith Revise The
Transaction Fee Payable In The Event Of Any Revision In The Rates Charges By
The Acquiring Banks Or Card Associations Or Guidelines Issued By The RBI From
Time To Time.
It Is Hereby Agreed And Acknowledged By The Parties That The Transaction Fees
Charged By Momentpay In Respect Of A Transaction That Has Been Confirmed Shall
Not Be Returned Or Repaid By Momentpay To The User Or Any Other Person
Irrespective Of The Transaction Being Rejected, Charged Back, Refunded Or
Disputed.
Specific
Terms
Momentpay Will Not Be Responsible For Any Disputes
Between The Users And The Payers/ Payees, Including Issues Regarding Prices,
Delivery, Non-Delivery Or Delay In Delivery Of The Products, Quality Of
Products Or Otherwise. All Such Disputes Will Be Dealt With By And Between The
User And The Payer/ Payee Directly, And Momentpay Shall Not Be A Party To Such
Disputes.
Momentpay Cannot And Does Not Guarantee The Timings Of Any Payments Made Or
Received As Such Timing Is Dependent Upon User’s Bank, Card Issuing Bank/ Card
Processor (Where A Credit/ Debit Card Is Used), Acquiring Financial Institution
And Other Service Providers. Momentpay Assumes No Liability And Shall Not Be
Held Responsible For Any Delays In Delivery Of Payment Or Availability Of Funds
When Using The Services.
Momentpay Shall Not Be A Party To The Agreement Between The User And Any Payer/
Payee In Any Manner Whatsoever. All Contracts Are Directly Between Users And
Their Payers/ Payees.
User Shall Be Responsible For Any Miscommunication Or Incorrect User/ Third
Party/ Other Information That May Be Provided To Momentpay At The Time Of
Enabling The Services For The User.
Momentpay/ Service Provider Reserve The Right To Impose Limits On The Number Of
Transactions Which May Be Charged On An Individual Credit Card Or Other Account
During Any Time Period, And Reserve The Right To Refuse To Make Payments In
Respect Of Transactions Exceeding Such Limit. Momentpay/ Service Provider Also
Reserve The Right To Refuse To Make Payments In Respect Of Transactions By
Users With A Prior History Of Questionable Charges.
Security
Subject To The Provisions Stated Herein And As
Specified By Momentpay From Time To Time, The User Will Not Hold Momentpay
Liable In Case Of Any Improper/ Fraudulent/Unauthorized/ Duplicate/Erroneous
Use Of His Mobile And/Or The Web Based Access. Momentpay Will Also Not Be
Liable For Any Consequences Connected With The Use/ Misuse Of User’s Mobile/ E
Mail Account By Any Third Party. If Any Third Parties Gain Access To The
Services, The User Will Be Responsible And Shall Indemnify Momentpay Against
Any Liability, Costs Or Damages Arising Out Of Such Misuse / Use By Third
Parties Based Upon Or Relating To Such Access And Use, Or Otherwise.
The User Shall Be Fully Liable For: (A) Any Unauthorised Use Of His Mobile/
Email Account; And/Or (B) All Authorised Transactions On His Mobile/Email
Account.
Without Prejudice To The Remedies Available To Momentpay And These Terms, Momentpay
Shall Be Under No Liability Whatsoever To The User In Respect Of Any Loss Or
Damage Arising Directly Or Indirectly Out Of:
Refunds/
Chargebacks
A Chargeback Shall Mean A Transaction That Is
Uncollectible And Returned To Service Provider/ Momentpay By User/ Payee Or
Acquiring Bank For A Refund To The Concerned Payer / User Due To Any Of The
Following Reasons:
(A)Any Payment Which The User/ Payer Refuses To Honour Or Demands A Refund Of
Because The Products Purchased Or The Delivery Thereof, Was Not As Promised Or
Was Defective, Deficient, Incomplete And /Or Unsatisfactory For Any Reason
Whatsoever, Or That Payment For The Same Has Already Been Made.
(B)Any Payments By A User/ Payer Using The Services, Which Is Returned By The
Acquiring Bank For Any Reason Whatsoever.
(C)Any Charge/Debit Arising Out Of Any Alleged Hacking Breach Of Security Or
Encryption That May Be Utilized By Service Provider/ Momentpay/ Payee From Time
To Time.
(D)Any Transaction That Is Unsuccessful.
As A Result Of The Rapid Nature Of Movements Of Funds, Once A Payment Has Been
Initiated Through The Services, It May Not Be Possible To Retract The Same
Using The Services. If User Wishes To Attempt To Chargeback/ Retract A Payment,
He Must Notify His Bank And Momentpay Immediately And Provide All Required
Information. Momentpay Cannot However Guarantee That The Payment Will Be
Retracted. It May Be Possible To Charged Back/ Retract A Payment In Case Of A
Payment By Debit/ Credit Card, If The Instruction Is Given To User’s Bank And Momentpay
Within The Prescribed Time. However It Would Not Be Possible To Do So In Case
Of Any Other Mode Of Payment.
In The Event Of A Chargeback Situation Arising In Case Of Any Products
Purchased By A User Or Payer, For Which Payment Has Not Yet Been Made To The
Payee Or User By Service Provider, The User Or Payer Shall Be Advised By Momentpay
To Resolve The Issue With The Payee Or User Or Service Provider And Momentpay
Shall Then Settle The Payment In Accordance With The Solution Agreed Upon By
The Parties.
In Such Event, If The Payee And The Payer Are Unable To Arrive At A
Satisfactory Resolution Of The Problem, Momentpay/ Service Provider Shall Be
Entitled To Make A Direct Credit To The Disputing Payer’s Account For The
Disputed Amount. Such A Debit To The Payee’s Account And The Direct Credit To
The Disputing Payer’s Account Shall Not Be Disputed By The Payee In Any Manner
Whatsoever. In The Event Of The Payee And The Payer Arriving At A Settlement, Momentpay/
Service Provider Shall Deal With The Said Monies In Accordance With The Terms
Of The Settlement Arrived At.
In The Event Of A Chargeback Situation Arising In Case Of Any Products
Purchased By A User/ Payer, For Which Payment Has Been Made To The Payee/User /
Service Provider, The User/ Payer Shall Be Advised To Resolve The Issue With
The Payee/User / Service Provider And Shall Then Settle The Payment In
Accordance With The Solution Agreed Upon By The Parties.
Momentpay Shall Not Be Responsible To Make Payments In Respect Of Any
Chargeback Unless It Has Received The Requisite Amounts From The Concerned
Acquiring Bank/ Service Provider/ Payee/ User. Momentpay Shall Not Be
Responsible For Any Claims, Disputes, Penalties Arising In Connection With Such
Chargeback, Momentpay Shall Be Indemnified Against The Same. In The Event Of
The Receipt By Momentpay Of An Amount Of A Chargeback From The Acquiring Bank /
Service Provider, Momentpay Shall Pass On To User/ Payer Such Amount Received
By Them Within 7 Days.
In The Event That The Parties Have Agreed That User/ Payer Is Entitled To
Chargeback Any Transaction, Momentpay May At Its Discretion, Give Effect To
Such Chargeback Entitlement In Any One Or More Of The Following Methods:
(A)Deduction Of The Relevant Amount Or Any Part Thereof From Any Amounts To The
Payee;
(B)Billing The Concerned Party For The Relevant Amount Or Any Part Thereof.
Termination
If Either Momentpay Or Service Provider Suspects, On Reasonable Grounds, That A User Has Committed A Breach Of These Terms Or Any Other Agreement With Momentpay Or Any Act Of Dishonesty Or Fraud Against Momentpay/ Any Service Provider, Mom
