1. Legal Relationship
Fave acts as a facilitator to assist Users in making cashless payment at select merchants. An independent relationship is established between Us and the User. All action which is performed through the App is directed by the User and is in no way, controlled by the Company (including all its subsidiaries, brands, related and/or associated companies/brands). All of the User’s funds will be held separately from Company funds at all times. All transactions or therefore, lack of transactions, will be decided by the User.The App and service only function by hosting, maintaining and facilitating transactions between Users and merchants via the internet.
We do not pose any authority and therefore will not be held responsible for any liability from using Our service. We act as a facilitator and do not guarantee that Users or merchants which are being dealt with will complete the transaction.
2. Purchases and Payment
The Company (including all its subsidiaries, brands, related and/or associated companies/brands), in the event of any loss or damages, will not be held liable regardless of the circumstance whether it be contract, tort, negligence, strict liability or other basis arising from the use and/or the access of our service and/or App. This includes any third-party link to or from the Company’s App. The services listed and provided on the App constitute a ‘willing seller and willing buyer’ basis. Thus, the Company is absolved of any form of liability which may occur as a result of any transaction. The exclusion clause is to be taken into full extent as permitted by law.
Taxes: Any/all purchases made through the website/App will be inclusive of (if any) taxes which are constituted by the specific regional law. You will be in agreement to any form of prevailing tax, duties, fees, charges and/or cost, however denominated, which may be charged by extent of the regional law at any time.
Refunds: All transactions which are conducted are non-refundable in the case of partially used cashback or unclaimed purchases. In cases whereby you have been wrongfully billed, a “case-to-case” basis approach will be taken in the presence of credible evidence of such. The Company holds full authority and discretion towards the outcome of such circumstances. All refunds will be processed in Fave cashback or UPI linked bank account from which the payment was made on basis of discretion of Company. Cash refund requests will be considered on a “case-to-case” basis and will be subjected to a surcharge of ten per cent (10%) on the transacted amount. The Company reserves the right to conduct thorough investigations over a period of time that is deemed necessary by customer service agents of the Company.
3. Holding of Funds
Pine Labs is a Third Party Application Provider (TPAP) authorized by NPCI to facilitate payments through sponsor PSP bank(s) namely IDFC First Bank. Pine Labs is a service provider in the UPI payment ecosystem and participates in UPI through the PSP Banks.
- “App” – The mobile application(s), hosted by Pine Labs and Pine Labs entities for providing Fave services to its users, including merchants and service providers.
- “Bank Account / Payment Account”- Any bank account or any other payment accounts offered by a regulated entity where money can be held, money can be debited from, and can be credited to.
- “BHIM-UPI” – Unified Payment Interface, as defined by NPCI under respective directives and notifications.
- “Customer’s Bank” – The Bank where the end-user customer maintains his/her account that has been linked for the purpose of debiting/crediting the payment transactions made through UPI.
- “Fave Platform” – Refers to any platform owned/subscribed/used by Pine Labs or any other Pine Labs entities not limited to websites, mobile applications, devices, URLs/links, notifications, chatbot, or any other communication medium used by Pine Labs entities to provide its services to its Users.
- “NPCI” – NPCI is an authorized payment system operator by Reserve Bank of India. NPCI owns and operates the UPI payment system.
- “PSP Bank” – PSP is the banking company authorized to act as a Payment Service Provider (PSP) under the UPI framework. PSP engages the TPAP to provide UPI services to the end-user customers.
- “Services” – shall include all services extended / to be extended by Pine Labs and Pine Labs entity as a group including but not limited to pre-paid Instruments, gift cards, payment gateway, recharges including others.
- “TPAP” – Third Party Application Provider (TPAP) is an entity that provides the UPI compliant app(s) to the end-user customers to facilitate UPI based payment transactions.
- “UPI PIN”- Personal Identification Number which is used as authorization credentials by the issuer bank for debiting a customer’s account. It will be 4-6 digits numeric PIN only.
- “VPA” – unique Virtual Payment Account, registered with NPCI that can be linked with your Bank Account.
- “We”, “Our”, “Ourselves”, “Pine Labs”- Refers to Pine Labs Private Limited.
- “You”, “Yours”, “Yourself”, “end user customer”, “user”- is the individual who uses UPI payment facility to send and receive payments and avails UPI facility by linking their bank account(s).
User Responsibility & Obligations
UPI Participant’s Roles and Responsibilities
- NPCI owns and operates the Unified PaymentsInterface (UPI) platform
- NPCI prescribes rules, regulations, guidelines, and the respective roles, responsibilities and liabilities of the participants, with respect to UPI. This also includes transaction processing and settlement, dispute management and clearing cut-offs for settlement.
- NPCI approves the participation of issuer banks, PSP banks, Third Party Application Providers (TPAP) and Prepaid Payment Instrument issuers (PPIs) in UPI.
- NPCI provides a safe, secure and efficient UPI system and network.
- NPCI provides online transaction routing, processing and settlement services to members participating in UPI.
- NPCI can, either directly or through a third party, conduct an audit on UPI participants and call for data, information and records, in relation to their participation in UPI.
- NPCI provides the banks participating in UPI access to system where they can download reports, raise chargebacks, update the status of UPI transactions etc.
- PSP Bank
- PSP Bank is a member of UPI and connects to the UPI platform for availing UPI payment facility and providing the same to the TPAP which in turn enables the end-user customers / merchants to make and accept UPI payments.
- PSP Bank, either through its own app or TPAP’s app, on-boards and registers the end-user customers on UPI and links their bank accounts to their respective UPI ID.
- PSP Bank is responsible for authentication of the end-user customer at the time of registration of such customer, either through its own app or TPAP’s app.
- PSP Bank engages and on-boards the TPAPs to make the TPAP’s UPI app available to the end-user customers.
- v. PSP Bank has to ensure that TPAP and its systems are adequately secure to function on UPI platform.
- PSP Bank is responsible to ensure that UPI app and systems of TPAP are audited to safeguard security and integrity of the data and information of the end-user customer including UPI transaction data as well as UPI app security.
- PSP Bank has to store all the payments data including UPI Transaction Data collected for the purpose of facilitating UPI transactions, only in India.
- PSP Bank is responsible to give all UPI customers an option to choose any bank account from the list of Banks available on UPI platform for linking with the customer’s UPI ID.
- PSP Bank is responsible to put in place a grievance redressal mechanism for resolving complaints and disputes raised by the end-user customer.
- Pine Labs (TPAP)
- Pine Labs is a service provider and participates in UPI through PSP Bank.
- Pine Labs is responsible to comply with all the requirements prescribed by PSP Bank and NPCI in relation to TPAP’s participation in UPI.
- Pine Labs is responsible to ensure that its systems are adequately secure to function on the UPI platform.
- Pine Labs is responsible to comply with all applicable laws, rules, regulations and guidelines etc. prescribed by any statutory or regulatory authority in relation to UPI and Pine Labs’s participation on the UPI platform including all circulars and guidelines issued by NPCI in this regard.
- Pine Labs has to store all the payments data including UPI transaction data collected by TPAP for the purpose of facilitating UPI transactions, only in India.
- Pine Labs is responsible to facilitate RBI, NPCI and other agencies nominated by RBI/ NPCI, to access the data, information, systems of Pine Labs related to UPI and carry out audits of Pine Labs, as and when required by RBI and NPCI.
- Pine Labs shall facilitate the end-user customer with an option to raise grievance through the Pine Labs’ grievance redressal facility made available through Pine Labs UPI app or website and such other channels as may be deemed appropriate by the Pine Labs like email, messaging platform, IVR etc.
Dispute & Grievance
Pine Labs has tripartite contractual agreements with sponsor PSP Banks and NPCI and we are obligated to facilitate grievances / complaints resolution of the customers onboarded on our UPI application.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 PSP Bank, followed by the bank (where you maintain the account) and NPCI in the same order. After exercising these options, you can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.
Dispute Redressal Mechanism
1. You can raise a complaint with respect to a UPI transaction, on the Pine Labs App.
2. You can select the relevant UPI transaction and raise a complaint in relation thereto.
3. You can raise a complaint with Pine Labs with respect to all UPI related grievances / complaints if the UPI transaction is made through Pine Labs App. In case the complaint / grievance remains unresolved, the next level for escalation will be the PSP Bank, followed by the bank (where you maintain your account) and NPCI, in the same order. After exercising these options, you can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.
4. The complaint can be raised for both the types of transactions i.e. fund transfer and merchant transactions.
5. You shall be kept communicated by Pine Labs by means of updating the status of your complaint on Pine Labs App or any other means such as email, telephone.
You may note that Pine Labs shall retain your registration information, VPAs, transactional information or any other information that We are permitted to store as permitted under the BHIM UPI Payment System for the duration as specified in regulations or notified by NPCI from time to time even after termination of contract.
We do not make any warranties and make no representation about the quality and availability of BHIM 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.