SpeedPe Terms & Conditions
This document is an electronic record in terms of Information Technology Act, 2000, amendments thereof from time to time and the rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.
Please read the terms and conditions carefully before registering, accessing or using the SpeedPe Services (defined below). The terms and conditions are legal contract ("Agreement") between You and SpeedPe Worldlink Private Limited (“SpeedPe”)
If you do not agree to these terms and conditions or do not wish to be bound by these terms and conditions, you may not use the Services and/or immediately terminate the Services and/or uninstall the mobile application.
We may amend the terms and conditions at any time by posting an updated version at SpeedPe website(s) and SpeedPe App(s). The updated version of the Terms of Service shall take effect immediately upon posting. It is Your responsibility to review these Terms of Use periodically for updates / changes. Your continued use of SpeedPe App following the posting of changes will mean that You accept and agree to the revisions including additional Terms or removal of portions of these Terms, modifications etc. As long as You comply with these Terms of Use, We grant You a personal, non-exclusive, non-transferable, limited privilege to enter and avail the Services.
USING SpeedPe APP INDICATES YOUR AGREEMENT TO ALL THE TERMS AND CONDITIONS UNDER THESE TERMS OF USE, SO PLEASE READ THE TERMS OF USE CAREFULLY BEFORE PROCEEDING. By impliedly or expressly accepting these Terms of Use, You also accept and agree to be bound by SpeedPe and SpeedPe Entity Policies (including but not limited to Privacy Policy) available on the SpeedPe website(s) and SpeedPe App(s) as amended from time to time.
Definition
“We”, “Us”, “Our” - shall refer to SpeedPe and SpeedPe Entities.
“You”, “Yours”, “Yourself”, “SpeedPe User” - refers to any non-registered individual or corporate body, registered user of SpeedPe and SpeedPe Entities, including but not limited to SpeedPe customers or Merchants.
“SpeedPe App” - The mobile application(s), hosted by SpeedPe and SpeedPe Entities for providing SpeedPe services to its users, including merchants and service providers and also includes any and all Services where it acts as an Intermediary .
“SpeedPe Website” - Shall refer to www.SpeedPe4u.com , which is registered by SpeedPe and used as a medium to communicate and inform users of services provided by SpeedPe and SpeedPe Entities, not limiting to its features, terms and conditions, Our contact details.
“SpeedPe Entities” - shall mean group, affiliates, associates and subsidiaries of SpeedPe.
“SpeedPe Services” - shall include all services extended / to be extended by SpeedPe and SpeedPe entity as a group including but not limited to Pre-Paid Instruments, Gift cards, Payment Gateway, Recharges and Bill Payments, Insurance, Mutual Funds, Gold sale & purchase, switch interface/ access including othe
“Service Providers” – Refers to any individual, group of individuals defined under law whose services are used by SpeedPe or SpeedPe Entities in order to provide the intended Services to You through SpeedPe Platform.
“Business Partners” – Shall refer to any individual, group of individuals defined under law with whom SpeedPe or SpeedPe Entities have a contractual relationship and not limited to Merchants, Advertisers, Deal partners, Financial institutions, switch interface partners
“Participating Platforms / Merchant Partners” - Websites and Platforms that accepts permitted SpeedPe Services to make a payment against products or services offered by such platforms.
“Terms of use”/”Terms and Conditions” - are interchangeably used and shall have the same meaning.
Eligibility
By accessing SpeedPe Service and SpeedPe Platforms, You represent that:-
- You are 18 years of age or older;
- You are capable of entering into a contract /legally binding agreement;
- You have the right, authority and capability to enter into this Agreement abiding by all the provisions of the “terms of use” of SpeedPe Services.
- You are not barred or otherwise legally prohibited from accessing or using services of SpeedPe or SpeedPe Entities under the laws of India.
- You are not impersonating any person or entity, or falsely stating your age or affiliation with any person or entity. SpeedPe and SpeedPe Entities shall reserve the right to terminate your contract to use SpeedPe Platform in case of any incorrect representation of the above-mentioned conditions.
Terms of Service
SpeedPe is a payment solution which facilitates payments and acts as such by creating, hosting, maintaining and providing Services to you via the Internet. SpeedPe provides its Services to customers through 'SpeedPe' mobile payments application (“SpeedPe App”), which acts as a container for various payment instruments including but not limited to Wallet.
By using the Services, you acknowledge and agree that SpeedPe is not a bank and the Services should in no way be construed as the provision of banking services.
SpeedPe Services
SpeedPe and SpeedPe Entities provide services via SpeedPe Platform. You further agree and acknowledge the terms of use of SpeedPe Services provided on SpeedPe Platform.
- SpeedPe Account is the account that you create when you sign-up/register with SpeedPe.
- You can also avail Recharge & Bill Payment facility made available to SpeedPe Users under the Terms of Use of such Service.
- Access to Speedpe enables you to browse through SpeedPe Services provided by SpeedPe Entities and in order to avail, enroll or use any such Service you may need to additionally register for such services by providing some more information as required under the Terms of Use of such products/services..
- Allows you to share and maintain the Know Your Customer “KYC” details and information for underwriting purposes for other financial and non-financial products available on SpeedPe App as Services illustrated below:
- SpeedPe UPI (“UPI” - Unified Payment Interface)
- Insurance Solicitation
- Recharge & Bill Payments
- Merchant Payments on SpeedPe Platform
- Any other financial product/feature that is provided on SpeedPe or SpeedPe entities platform, subject to regulatory provisions and permitted by SpeedPe.
- You further agree to SpeedPe Privacy Policy as applicable for SpeedPe and SpeedPe Entities.
You further agree that -
- SpeedPe shall send all customer communications by SMS and/or email and they shall be deemed to have been received by You after they have been submitted for delivery to the SMS/email service provide
- Agree to receive all commercial messages including transactional messages from SpeedPe/ Merchant.
- To use the SpeedPe Services in good faith and in compliance with all applicable laws and regulations.
- You would be solely responsible for payment of any taxes, duties or other governmental levies or any financial charges that may be imposed on any products or services purchased or supplied by a Merchant or otherwise arising from online transactions.
- ensure that the SpeedPe Services are not used for transactions in foreign currency, unless permitted for any SpeedPe Service.
You hereby agree and acknowledge that in the event of non- compliance of the Terms of Use for usage and access to Single-Sign-On Services, SpeedPe has the right to terminate Your access or access usage limits on Phone account and services without further notice.
Offers
SpeedPe or SpeedPe Entities may invite you to participate in any offer from time to time. You agree that participating in such an offer is subject to your agreement to the respective offer terms and conditions. You also understand that the offers might be provided by third parties on SpeedPe Platforms and you may require to agree to respective terms and conditions of third parties. You further agree that offers provided to any user may vary from user to user.
SpeedPe reserves the right to disqualify You from any offer in case you do not meet the eligibility criteria for such an offer or any other reasons thereof including but not limited to misuse of offer, misrepresentation, fraud or suspicious transactions/activities, including but not limited to PMLA directives or any at our sole discretion without further notice.
Termination
You agree that SpeedPe at its sole discretion may terminate your contract without prior notice and restrict your access to SpeedPe application if We determine that You have violated the terms of use and You consent that in case SpeedPe suffers losses, not limited to monetary losses, due to Your actions, We can take injunctive relief or any other legal action as deemed necessary within the said circumstances and SpeedPe is not liable for any loss to You due to termination.
Limitation of Liability
Financial and non-financial transactions performed by You on SpeedPe Platform is always processed by You or under Your exclusive authorization.
In no event will SpeedPe be liable for any indirect, consequential, incidental, special or punitive damages, including without limitation damages for loss of profits or revenues, business interruption, loss of business opportunities, loss of data or loss of other economic interests, whether in contract, negligence, tort or otherwise, arising from the use of or inability to use the Services, however caused and whether arising in contract, tort, negligence, warranty or otherwise, exceed the amount paid by You for using the Services giving rise to the cause of action or Rupees One Hundred ( 100) whichever is less.
Indemnification
You shall indemnify and hold harmless SpeedPe, SpeedPe Entities, its owner, licensee, affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from any claim or demand, or actions including reasonable attorneys' fees, made by any third party or penalty imposed due to or arising out of Your breach of this Terms of Use, privacy Policy and other Policies, or Your violation of any law, rules or regulations or the rights (including infringement of intellectual property rights) of a third party.
Force Majeure
A Force Majeure Event shall mean any event that is beyond the reasonable control of the SpeedPe and shall include but not limited to war, riots, fire, flood, acts of God, explosion, strikes, lockouts, slowdowns, prolonged shortage of energy supplies, Pandemic, computer hacking, unauthorized access to computer data and storage devices, computer crashes ,acts of state, governmental, legal or regulatory actions prohibiting or impeding SpeedPe Entities from performing its respective obligations under the contract.
Dispute, Governing Law & Jurisdiction
This Agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Terms of Use, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India. Subject to and without prejudice to the amicable settlement, the courts in Bengaluru, Karnataka shall have exclusive jurisdiction to try and adjudicate all matters arising in connection with your use of the SpeedPe Services or other matters covered herein.
Disputes or differences or concerns if any should be raised within 30 days of happening or non-happening of an event related to SpeedPe Services, except in case of unauthorised transactions on Your SpeedPe Wallet, which shall be reported by You as soon as You identify the issue and investigation for such disputes is subject to terms of use of SpeedPe
SpeedPe and third-party partners make no warranty, express or implied regarding the quality of Services including but not limited to:
- the Services will meet your requirements;
- the Services will be uninterrupted, timely or error free; or
- any products, information or material obtained by You in connection with the services will meet Your requirements.
Transactions
SpeedPe UPI can be used for Person to Person money transfers or to purchase products and services online or offline on any Merchant platform. Your UPI PIN needs to be entered on Your mobile to authorize every SpeedPe UPI payment. You need to ensure that You are connected to the internet at the time of making any transaction. However, this facility may not be extended by SpeedPe or SpeedPe Entities for all transactions.
While making Payments for SpeedPe Services on SpeedPe Platform, you may make Payments using SpeedPe UPI in case your balances on other payment instruments, including SpeedPe PPI wallet or Gift card is not sufficient to process such transaction.
SpeedPe UPI is one of the payment options available to You on various Merchant platforms and We assume no responsibility for the products / services purchased using SpeedPe UPI and any liability thereof is expressly disclaimed.
UPI transactions are subject to minimum and maximum transaction limits that may be set by SpeedPe, User, Issuer Bank, the Payment Participants or as may be prescribed under the provisions of Applicable Law. Further, SpeedPe, Bank - PSP or other Payment Participants may also reject/suspend Transactions (in whole or in part)based on their respective policies and assessment.
Charges:
SpeedPe does not charge its Users any fee for creating an Account, however, We reserve the right to change its fee policy from time to time. We may introduce fees for any new services or amend/introduce fees for existing services, as the case may be. Changes to the fee(s) shall be displayed accordingly to You via website/app and such changes shall automatically become effective immediately after they are posted. Unless otherwise stated, all fees shall be quoted in Indian Rupees.
Your bank may charge you a nominal transaction fee for UPI transfers- please check with your bank for any such charges.
User Responsibility & Obligations
While your register and transact on using SpeedPe UPI, You are required to ensure the following -
- You are solely responsible for linking Your correct bank account.
- Since Your mobile number is treated as the primary identifier, Your mobile number needs to be updated with the bank linked to SpeedPe App in case of any changes.
- If You change the mobile number registered with Your SpeedPe Account, You will have to re-register your new mobile number with SpeedPe. To re-enable the Service, you need to register your new mobile number with your bank as well.
- You are solely responsible to keep Your OTP, UPI PIN and bank account related details confidential. Sharing such information with others may lead to unauthorized usage, for which SpeedPe shall not be responsible.
- You agree that if You provide any information that is untrue, inaccurate, not current or incomplete or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current or incomplete, or not in accordance with the Terms of Use, We shall have the right to indefinitely suspend or terminate or block access to Your Account.
- You agree that SpeedPe UPI, PSP or any other system participant in UPI Payment System shall not be liable for any delay in the completion of the funds transfer or any loss on account of error in the execution of the funds transfer by you.
- You are required to ensure availability of sufficient funds in SpeedPe UPI linked Bank Account(s) in order to avoid transaction declines and charges if any accessed by your issuer Bank.
Dispute & Grievance
We shall be the first point of contact for all UPI related grievances/complaints for customers on- boarded by us. In case the complaint/grievance remains unresolved, the next level for escalation will be the Bank, (where you maintain the account)
Dispute Redressal Mechanism
- You can raise a complaint with respect to a UPI transaction, on the SpeedPe app.
- You can select the relevant UPI transaction and raise a complaint in relation thereto.
- The complaint can be raised for both the types of transactions i.e. fund transfer and merchant transactions.
- You shall be kept communicated by SpeedPe by means of updating the status of your complaint on SpeedPe App or any other means such as Email, Telephone
Use of Group Companies
You understand and agree that SpeedPe and SpeedPe Entities reserve the right to use the services of themselves to provide any of the mentioned SpeedPe services to you within SpeedPe Platforms.
Indemnity & Liability
In no event will SpeedPe be liable for any indirect, consequential, incidental, special or punitive damages liabilities (including statutory), including without limitation damages for loss of profits or revenues, business interruption, loss of business opportunities, loss of data or loss of other economic interests, whether in contract, negligence, tort or otherwise, arising from the use of or inability to use the SpeedPe UPI Facility.
Termination
You agree that SpeedPe at its sole discretion may terminate Your contract without prior notice and restrict your access to SpeedPe application if We determine that your have violated the terms of use and You consent that in case SpeedPe suffers losses, not limited to monetary losses, due to Your actions, We can take injunctive relief as deems necessary within the said circumstances. We may also suspend services or terminate Your contract in case of violation of User conduct of SpeedPe Platforms as defined by SpeedPe and SpeedPe entities.
Governing Law
This agreement and the rights and obligations thereunder and the relations of the parties and all matters arising under or in connection with this Terms of Use, including the construction, validity, performance or termination thereunder, shall be governed by and construed in accordance with the laws of the Republic of India. The courts in Bengaluru, Karnataka shall have exclusive jurisdiction over all matters connected with the Services.
Disclaimers
We do not make any warranties and make no representation about the quality and availability of UPI facility.
We endeavor to execute and process transactions as per the defined process, however, We shall not be held responsible for any non-responsiveness, delay, failure of systems or any other circumstances that might not be in our control.
Your transaction records and other logs maintained with Us shall be final and binding as a proof of this facility and transactions.
General Terms and Conditions
- We may monitor Your transaction(s) for probable high-risk/fraud transactions. Basis our continuous transaction monitoring, We may place a hold on the Transaction, block or reject transaction and may also temporarily block you SpeedPe Wallet, ask You for more information on You and Your funding source before releasing / reinstating Your account/transaction. You shall also note that, Your account could also be temporarily or permanently blocked basis abuse against any employee, company, or incorrect declaration by any customer or merchant and We shall not be liable for any loss caused to You due to this while we investigate Your account.
- While executing any transaction, You must ensure the availability of sufficient funds On Your SpeedPe Wallet or other sources of funds that You use to execute any transaction.
- You understand that the services offered by SpeedPe on SpeedPe application use internet connection, service providers apart from SpeedPe application to successfully execute Your transactions and We shall not be take any responsible on any liability arising from including but not limited to any loss or interruption of the Services or the unavailability of Services due to a mobile or internet not supporting, non-responsiveness Merchant websites or applications.
- You further agree and acknowledge that Your bank/financial institution may access fee(s) or charge(s) against such transactions and SpeedPe shall not be liable to acknowledge or refund such fee(s) charges and shall be borne You in all circumstances.
Refund and cancellation
- If you erroneously processed a payment to the unintended merchant or processed a payment for the wrong amount (for instance a typographical error at your end) Your only recourse will be to contact the merchant directly to whom you have made the payment and ask them to refund the amount. SpeedPe shall not be able to handle such disputes, not can We reimburse you or reverse a payment that you have erroneously made.
Fees and Charges
- A convenience fee may be charged for certain Bill Pay transactions to your SpeedPe Wallet which may range from INR 0.50 to INR 100. You shall be notified before any such charge is added to Your transaction.
- SpeedPe may charge users a wallet loading fee(s) based on the instrument of choice and the details of the charges shall be displayed to the users upfront while loading their SpeedPe Wallet
- SpeedPe reserves the right to change its fee(s) policy from time to time. We may at its sole discretion introduce new services and modify some or all the existing services offered and may introduce fees for the new/existing services offered or amend/introduce fees for existing services. Changes to the fee(s) policy shall automatically become effective immediately and would be notified via changes to these terms and conditions.
Suspension/Discontinuation of services
- You can not transfer the funds back to Your Pre-designated own bank account.
- You agree and acknowledge that there can be certain risk-based scenarios when Your SpeedPe Wallet may not be immediately closed but suspended and then eventually closed.
- You further understand that once Your SpeedPe Wallet is closed, We would not be able to reinstate Your SpeedPe Wallet and may sometimes not allow You to create a new wallet as per regulatory directives or based on our internal policies.
- You also understand that we are also obligated to retain Your data and information even after discontinuation of Your SpeedPe Wallet for record retention.
Transaction Monitoring
- In order to review Your account, You understand and authorize Us to review Your SpeedPe Account, including but not limited to services offered on Your SpeedPe mobile application.
- You also acknowledge that We would need to block/suspend/limit/restrict usage of Your SpeedPe Account for any anomalies that we may observe in Your SpeedPe Account for any of the services provided in SpeedPe Application.
Communication
- SpeedPe may communicate with you on the contact information or SpeedPe applications that you may have provided to Us during the course of your engagement, including but not limited to signup, transacting or availing any third party products or services on SpeedPe Platform.
- We will send you communication alerts via emails or SMS or push notifications or via other progressive technology. You also agree that there can be disruption in communications due to factors that are not under Our control, including but not limited to Your Phone being switched off, incorrect email address, network interruptions. You agree not to hold SpeedPe liable for non-delivery for any alert or any loss suffered by you due to delay, distortion or failure of communication.
- You further acknowledge that you are responsible for the contact details shared with Us and shall update us on any change on your contact details. You authorise Us to contact you and communicate with you for any SpeedPe Service or Offer(s). We may use third party service providers to send alerts or communicate with you. You authorise SpeedPe and SpeedPe Entities to override the DND settings to reach out to you over calls, SMS, emails and any other mode of communication.
Disputes
- Any disputes against Your SpeedPe Wallet usage and operation shall be notified to Us within 30 days, beyond which, We shall not be held liable for any such claim/event. However, when a dispute is received from You, We shall identify Your dispute by a unique tracking reference and acknowledge the same.
Amendment to the terms of use
- These terms of use govern our mutual rights, responsibilities and obligations and is subject to change as directed but not limited to notifications by regulators, enforcement agencies, changes in law of land or SpeedPe’s internal policies and procedures.
- These terms of use may be modified to reflect our current practices, procedures, product features and other notified changes by regulators and changes in law. We shall update the terms of use accordingly and You are required to review the terms while using Your SpeedPe Wallet. These terms shall be deemed to be accepted by You in case of Your continuing usage and operation of SpeedPe application.
These Terms shall be governed by the laws of India, without respect to its conflict of laws principles. Any claim or dispute between You and SpeedPe that arises in whole or in part from in relation to these Terms shall be decided exclusively by a court of competent jurisdiction located in Bangalore.
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