The following additional or amended terms shall apply to you if you are a user in the relevant jurisdiction specified below.
PayerMax may process personal information of the following categories of individuals in the provision of PayerMax Services:
Sources of information
We process personal information that you provide to us in a number of ways, including:
We may also process your personal information from third-party sources as necessary for the provision of PayerMax Service. We may obtain this information from your organisation, from public sources or third parties, depending on the relevant circumstances. For example, we may obtain certain personal information about you from:
Type of personal information
When you use our website or when we interact with you to provide PayerMax Service or to receive services from you as a vendor, the personal information we receive, collect and process may include:
In addition to the information listed above, we may collect information about the transaction from you depending on which payment method you choose to make or receive a payment, including:
We collect the following personal information from your device when you use PayerMax Service to carry out data analysis for advertising, and to protect you from fraud, phishing or other misconduct:
You may provide your personal information to us voluntarily. However, there are circumstances in which we may not be able to assist you, or an organization with which you are associated, unless you provide us with your personal information. For example, your personal information may be required for legally required compliance checks, for security and other reasons to allow you to access PayerMax Service. In these cases, without the relevant personal information, we may be unable to assist you, and we would inform you that this is the case.
We do not knowingly collect personal information from or about children under the age of 18. If you are under 18, please do not use PayerMax Service or send any personal information about yourself to us. If we learn that we have collected personal information from a child under 18, we will delete that information as soon as possible. If you believe that a child under 18 may have provided us personal information, please contact as using details provided in section 8 below.
We may process your personal information in connection with any of the purposes set out above on one or more of the following legal grounds:
We will only share your personal information with third parties in the following circumstances:
Your personal information will be retained only for as long as necessary for the purposes for which the information was collected, except where necessary to meet our legal obligations (for example, in relation to KYC/AML requirements) or to establish, exercise or defend potential legal claims or to pursue our legitimate interests.
Your rights will depend on the laws which apply to you and us, but you may have:
Where you have provided us with consent for the processing, you may be able to withdraw it. Please note that even after you have chosen to withdraw your consent, we may be able to continue to process your personal information to the extent required or otherwise permitted by law, in particular in connection with exercising and defending our legal rights or meeting our legal and regulatory obligations. To withdraw your consent or to exercise any of the rights above, if they are applicable, you should use our contact details set out in section 8 below.
We must ensure that your personal information we hold is accurate and up to date, where relevant. Therefore, please advise us of any changes to your information by emailing us.
We are concerned about safeguarding the confidentiality of your information. We employ administrative, physical and electronic measures designed to protect your Information from unauthorized access and use. Please be aware that no security measures that we take to protect your information are absolutely guaranteed to avoid unauthorized access or use of your information which is impenetrable.
We ask that you not send us, and you not disclose, any sensitive personal information (e.g., information related to your e-wallet password, credit or debit card password, racial or ethnic origin, political opinions, religion or other beliefs, health, sexual orientation, criminal background or membership in past organizations, including trade union memberships) through PayerMax to us, unless such information is required by us for legal compliance checks, such as KYC/AML.
The following additional or amended terms shall apply to you if you are a user in the relevant jurisdiction specified below.
Minor’s Personal Information: We do not knowingly collect personal information from or about children and adolescents under the age of 18. If you are under 18, please do not attempt to use PayerMax Service or send any personal information about yourself to us. If we learn that we have collected personal information from a child or adolescent under 18, we will delete that information as soon as possible. If you believe that a child or adolescent under 18 may have provided us personal information, please contact us.
Data subject’s requests: Under Article 18 of the LGPD, you have the following rights as data subject:
Consent from third parties. If you provide any personal data or information of third party individuals and/or parties, you represent and warrant that you have obtained the necessary consent to do so.
Data sharing. We will not share your information with third parties for any purposes other than the provision of PayerMax Service specified herein, without your consent.
Parental or Guardian Consent. If you are under the age of 21, you hereby represent that you had the consent of your parent or legal guardian to use the PayerMax Service.
Clause 1 (Information we collect and how we use it), add:
Clause 3 (Information we share), combine bullets 3 and 5 as follows:
Service providers which we engage to process personal information for any of the purposes listed above on our behalf and in accordance with our instructions only, such as local licensed payment service providers, cloud storage providers as well as companies providing services for AML/KYC checks, credit risk reduction, and other fraud and crime prevention purposes, and companies providing similar services, including financial institutions, credit reference agencies, and regulatory bodies with whom such personal data is shared; and/or
Clause 5 (Your rights) insert following clause:
After the purpose of processing of your personal information is achieved, your personal information will be transmitted to a separate database (or moved to a separate storage if your information is retained in a paper form) and retained for a certain period in accordance with PayerMax’s internal regulations and other applicable laws and regulations before it is destroyed. Your personal information relocated to a separated database will not be used for other purposes, unless it is required under the applicable laws and regulations. When destroying your personal information, we will take reasonable and technically feasible measures to make the personal information irrecoverable. For example, electronic files that contain personal information will permanently be deleted using a technical method that makes the files irrecoverable, and any other records, print-outs, documents or any other recording media will be shredded or incinerated.
|EDD||Enhanced due diligence|
|KYC||Know Your Customer|
|RBI||Reserve Bank of India|
|UNSC||United Nations Security Council|
|UNSCR||United Nations Security Council resolution|
This Merchant On-Boarding Policy (Policy) has been formulated to provide the minimum requirements pertaining to the procedures that the Company shall implement when associating with Overseas Merchants and it shall, among others, cover aspects related to merchant due diligence, reporting and record management and endeavors to be in line with the requirements of the bank in this regard. The compliance and operations team of the Company will be responsible for effective implementation of this policy.
The Policy is applicable to all employees of the Company and has been prepared to achieve the following objectives:
1. To establish a framework for the implementation of adequate merchant on-boarding processes, procedures and controls;
2. To regularly review the Policy and procedures herein to ensure its effectiveness.
3. Merchant on-boarding procedure will follow in lines with the policy to define their on-boarding process
The Company shall, at the outset, screen the names of the merchants as well as the authorized officials / shareholders/ Beneficial owners of the merchant against the following:
The Company will also ensure that Application name/ Brand name of the customers are screened against the available negative lists.Post screening and merchant acceptance, the Company shall proceed to establish a process to on-board the merchant on its platform. For this purpose, the Company shall obtain necessary identity documents of the merchant along with information pertaining to the nature, financials and other relevant details of the business of the merchant. For this purpose, the Company shall prepare an appropriate onboarding form outlining the requisite information and supporting documentation and shall obtain a duly filled-in copy from the merchant.
The Company shall undertake background and antecedent check of the merchants, to ensure that such merchants do not have any malafide intention of duping customers, do not sell fake services, etc. Depending on the risk categorization of merchants, the Company will undertake enhanced due diligence of high-risk merchants.
The information and documents sought from the merchant shall include (which shall be customized based on the country specific regulatory requirements):
The Company shall ensure that these documents are collected basis the type of the entity which the merchant is operating. To state an example, within local and global requirement of KYC document for LLP, Private Limited Company, Trust etc. are different and the Company shall ensure that such requirements are adhered to.
The Company shall verify all the information received from the merchant in line with the pre-agreed terms with the Citi Bank set out in this regard.
On-going due diligence
The Company shall undertake on-going due diligence of merchants to ensure that their transactions are consistent with their knowledge about the merchants, merchants’ business and risk profile; and the source of funds. The extent of monitoring shall be aligned with the risk category of the merchant.
For this purpose, the Company shall monitor the following types of transactions:
The Company shall ensure maintenance, preservation and reporting of merchant information in line with the agreed terms with Citi bank as part of the engagement.
The Company shall collect, compile and report all such requisite data and information to Citibank, relating to transactions and merchants, in such format as may be outlined as per a pre-determined arrangement with Citibank for the purpose of onward reporting to such authorities, regulators.
The Policy will be reviewed at least annually, or earlier, if needed, in the event of any significant change in business operations. All updates / changes to the Policy will be communicated to the relevant staff / relevant stakeholders on a periodic basis.
Online Merchants: Negative Category that cannot be considered – Table I
|1||Adult goods and services which includes pornography and other sexually suggestive materials & related herbal products (including literature, tablets, injection, vaccination imagery and other media); escort or prostitution services; Website access and/or website memberships of pornography or illegal sites|
|2||Body parts which includes organs or other body parts|
|3||Bulk marketing tools which includes email lists, software, or other products enabling unsolicited email messages (spam)|
|4||Cable descramblers and black boxes which includes devices intended to obtain cable and satellite signals for free|
|5||Child pornography which includes pornographic materials involving minors|
|6||Copyright unlocking devices which includes Mod chips or other devices designed to circumvent copyright protection|
|7||Copyrighted media which includes unauthorized copies of books, music, movies, and other licensed or protected materials|
|8||Copyrighted software which includes unauthorized copies of software, video games and other licensed or protected materials, including OEM or bundled software|
|9||Counterfeit and unauthorized goods which includes replicas or imitations of designer goods; items without a celebrity endorsement that would normally require such an association; fake autographs, counterfeit stamps, and other potentially unauthorized goods|
|10||Drugs and drug paraphernalia which includes illegal drugs and drug accessories, including herbal drugs like salvia and magic mushrooms|
|11||Drug test circumvention aids which includes drug cleansing shakes, urine test additives, and related items|
|12||Endangered species which includes plants, animals or other organisms (including product derivatives) in danger of extinction|
|13||Government IDs or documents which includes fake IDs, passports, diplomas, and noble titles|
|14||Hacking and cracking materials which includes manuals, how-to guides, information, or equipment enabling illegal access to software, servers, website, or other protected property|
|15||Illegal goods which includes materials, products, or information promoting illegal goods or enabling illegal acts|
|16||Offensive goods which includes literature, products or other materials that:|
a. Defame or slander any person or groups of people based on race, ethnicity, national origin, religion, sex, or other factors
b. Encourage or incite violent acts
c. Promote intolerance or hatred.
|17||Offensive goods, crime which includes crime scene photos or items, such as personal belongings, associated with criminals|
|18||Prescription drugs or herbal drugs or any kind of online pharmacies which includes drugs or other products requiring a prescription by a licensed medical practitioner.|
|19||Pyrotechnic devices, combustibles, corrosives and hazardous materials which includes explosives, fireworks and related goods; toxic, flammable, and radioactive materials and substances|
|20||Regulated goods which includes air bags; batteries containing mercury; Freon or similar substances/refrigerants; chemical/industrial solvents; government uniforms; car titles; license plates; police badges and law enforcement equipment; lock-picking devices; pesticides; postage meters; recalled items; slot machines; surveillance equipment; goods regulated by government or other agency specifications|
|21||Tobacco and cigarettes which includes cigarettes, cigars, chewing tobacco, and related products|
|22||Traffic devices which includes radar detectors/jammers, license plate covers, traffic signal changers, and related products|
|23||Weapons which includes firearms, ammunition, knives, brass knuckles, gun parts, and other armaments|
|24||Wholesale currency which includes discounted currencies or currency exchanges|
|25||Any product or service which is not in compliance with all applicable laws and regulations whether federal, state, local or international including the laws of India.|
|26||The Merchant providing services that have the potential of casting the Bank/ TranServ and/ or Payment Service Providers in a poor light and/ or that may be prone to – Buy & Deny attitude of the cardholders when billed (e.g. Adult material/ Mature content/ Escort services/ friend finders) and thus leading to chargeback and fraud losses.|
|27||Businesses out-rightly banned by law (e.g. Betting & Gambling/ publications or content that is likely to be interpreted by the authorities as leading to moral turpitude or decadence or incite caste/communal tensions, lotteries/sweepstakes & games of chance.|
|28||Bulk marketing tools which includes email, lists, software, or other products enabling unsolicited email messages (spam)|
|29||Web-based telephony/ SMS/Text/ Facsimile services or Calling Cards. Bandwidth or Data transfer/ allied services. Voice process/ knowledge process services.|
|31||Multi-Level Marketing collection fees/Matrix sites/Pyramid Marketing|
|32||Businesses which involved in any kind of production or services of Fireworks are prohibited.|
This Grievance Redressal Policy (Policy) has been formulated to provide customers and merchants adequate facilities to lodge and escalate their grievances, concerns and queries with the Company and to provide a speedy and effective redressal mechanism for the same. The operations team of the Company will be responsible for effective implementation of this policy.
The Policy has been prepared to achieve the following objectives:
1. To establish two distinct grievance redressal frameworks for the implementation of complaint receipt and redressal for the benefit of customers and merchants;
2. To provide adequate modes of lodging complaints with the Company;
3. To effect speedy and satisfactory redressal of complaints;
4. To establish an appropriate matrix of authorities for escalating grievances;
5. To ensure periodic reporting to ensure minimisation of complaints;
6. To regularly review the Policy and procedures herein to ensure its effectiveness.
To lodge any compliance, details like on line queries form, Email, etc. will be available on the website page of the Company. And each merchant will be assigned an account manager to handle the queries or dissatisfaction from merchants. In case of any dissatisfaction, queries or feedback, merchants may contact the Company through the following modes:
To lodge any compliance, details like phone number (toll free number), Email, etc. will be available on the website page of the Company. In case of any dissatisfaction, queries or feedback, customers may contact the Company through the following modes:
|Sr. No||Mode||Contact details||Availability|
|2||Online chat||Auto link in payment SDK||Working days and 9am-6pm|
The Company shall endeavor to resolve all complaints and queries within the resolution timelines outlined below:
|Sr. No||Complaint type||Resolution timeline|
|1||Remittance related issues||5 working days|
|2||Technical issues||2 working days|
|3||Transaction related issues||2 working days|
|4||Operational||5 working days|
|5||Finance related issues||7 working days|
|6||Terms of service||7 working days|
|7||Refunds||3 working days|
|8||Others||7-10 working days|
|Authority||Turn-around time for complaint resolution (From time of receipt of complaint)|
|Level 1 Authority||Within 48 hours|
|Level 2 Authority||Within 7 days|
|Level 3 Authority||Within 30 days|
The Company shall collect, compile and report all such requisite complaint-related data and information to the bank in such format as may be outlined as per a pre-determined arrangement with Citibank for the purpose of onward reporting to such authorities, regulators.
The Company shall publicly display the Policy on the Company’s website/app.
The Policy will be reviewed at least annually, or earlier, if needed, in the event of any change in the regulatory framework or in business operations. All updates / changes to the Policy will be communicated to the relevant staff / relevant stakeholders on a periodic basis.