Paytm Wallet Transit Card

Paytm Wallet Transit Card – Paytm has recently introduced a prepaid RuPay card Paytm Wallet Transit Card. This card can be used at all merchant outlets or online websites that accept RuPay cards. This card is a prepaid card that will be linked to your Paytm Wallet balance i.e. through this card also you can use the wallet balance.

This card has been launched on the Rupay platform. At present, it is being given in the form of a virtual card and soon a physical card will also be given. It will be a 16 digit card with an expiry date and CVV number. Through this card, you will be able to use your Paytm Wallet balance online and offline everywhere where payments are taken through Rupay card.

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Paytm

Paytm Transit Wallet Card

These Terms apply to the issuance and usage of the Transit functionality enabled Paytm Wallet Cards and shall be in addition to and not in derogation of the general terms and conditions of PPBL governing products and services and the terms and conditions governing the Semi-closed wallet terms and conditions.

Paytm Wallet Transit Card Apply Here

Direct Link Paytm Payments Bank (paytmbank.com)

1. Definitions

Unless indicated otherwise, the capitalized terms listed below shall have the following meanings:

  1. a)“Cardholder”/ “User” shall mean the wallet holder or the Customer to whom the Paytm Wallet Card linked to his Paytm Wallet has been issued by PPBL.
  2. b)”Merchant” means the merchants who accept Cards of partner Card Associations for transit use case.
  3. c)“NCMC” or National Common Mobility Card (NCMC), is an inter-operable transport card conceived by the Ministry of Housing and Urban Affairs of the Government of India. The transport card enables the user to pay for travel, toll duties (toll tax).
  4. d)”Paytm Wallet Card” or “Card” shall mean the Paytm Wallet Card issued by PPBL in physical format which is has been functionality for NCMC transit use-case and is linked to the Paytm Wallet of the Cardholder for availing payment facilities without using the mobile phone. This Card pertains to the transit wallet which is an offline wallet in Paytm Wallet Card. Transit wallet is launched as part of the National Common Mobility Card Project and would be operated as a Tap & Pay Card. National Common Mobility Card (NCMC), is an inter-operable transport card conceived by the Ministry of Housing and Urban Affairs of the Government of India. Once the card is activated, it can be used across metros (such as DMRC, Mumbai Metro & more), city bus etc. The transport card enables the user to pay for travel, toll duties (toll tax) in an offline mode while it can act as prepaid card for online transactions pertaining to retail shopping, ecommerce transactions etc. In the initial phase, the NCMC card will be used for transit use case especially at metro stations, city bus and parking lots across different cities in the country. The Paytm wallet card is powered by partner Card Associations. This Card is also known as Paytm Transit Wallet Card or Paytm Tap Card.
  5. e)”OTP” shall mean one time password valid only for a single transaction to authenticate the Customer.
  6. f)“Paytm Wallet” shall have the same meaning as defined in Wallet terms and condition (including but not limited to the various sub-wallets and gift instruments that may be associated to the Paytm Wallet).
  7. g)“Transit Block Wallet” will be an intermediate wallet which will contain the amount recharged by the customer through app flows. The money will move to Transit Sub-wallet once the user taps the Card on the AVM machine for top up.
  8. h)“Transit Sub-Wallet” will contain the amount which will be available to the end customer for transacting across different Merchants. This will contain a replica of the offline balance stored on the Wallet Card.

Also Read,

Paytm Wallet Transit Card

2. Terms

  1. a)The Card shall be issued by PPBL in the name of Cardholder to transact at the Merchants and provides access to the Paytm Wallet.
  2. b)The Card shall be issued by PPBL to the Cardholder in physical format. Such issuance by PPBL may be at its sole discretion and the application of the Cardholder in this regard may be rejected by PPBL without assigning any reasons whatsoever.
  3. c)The Card can be applied for by the Cardholder through PPBL designated persons, on the payment of requisite fee/ charges and necessarily needs to be linked to the Cardholder’s Paytm Wallet. An initial top-up amount may also be required. Customer to pay Card issuance charges and annual Card rental charges, as applicable. Bank can revise such Charges from time to time. Annual Card rental charges will be marked as outstanding and shall be deducted from Paytm Wallet with prior intimation, on an annual basis. PPBL may also charge a Lost Card Replacement Fee and/or a Damaged Card- Replacement fee and/or a Card Top Up Fee, as decided by PPBL from time to time, and as mentioned on Bank website.
  4. d)Only Users of Paytm Wallet that have a full KYC wallet or a minimum KYC Wallet (with loading through cash permitted) shall be issued these Cards.
  5. e)The Card issued by PPBL shall be issued on a non-personalised basis containing the Card Number therein.
  6. f)The Cardholder, prior to applying for the Card from PPBL, shall obtain independent appropriate advice and shall familiarize himself with the associated risks and all the terms and conditions pertaining to the Card.
  7. g)If the Cardholder has existing balance in his Paytm Wallet, the same would be accessible when the Cardholder utilises the Card.
  8. h)The Cardholder can use the Card as per the Transaction Limit assigned by PPBL from time to time. However PPBL shall not be responsible for any other limits or transactional caps placed by the Merchant. Once the Card transaction settings are enabled, a Cardholder can modify the daily limits of that setting anytime via Manage card section available on Paytm app. The overall limits will be limited to the wallet limits as defined by regulators, PPBL or by the User. However, PPBL shall not be responsible for any other limits or transactional caps placed by the Merchant.
  9. i)Payment can be made through Paytm Wallet Card only where the Merchants have the requisite card acceptance infrastructure. PPBL shall not be responsible for any inability/ failure of payment at the terminal.
  10. j)The Cardholder agrees that he shall not use the Card for payment of any illegal/unlawful purchase/purposes.
  11. k)The issue and use of the Card shall be subject to the rules and regulations in force from time to time, as issued by Reserve Bank of India or NPCI any other applicable law in force and that of PPBL.
  12. l)The Card shall be valid for transactions, as permitted by PPBL from time to time in India, at the Merchants accepting the Cards. The Cardholder has been informed and put to knowledge by PPBL that in order to facilitate the transactions, his Card details (in masked/encrypted form) shall be collected and shared by PPBL with designated personnel or partners or service providers in accordance with the Privacy Policy of PPBL listed at https://www.paytmbank.com/PrivacyPolicy. The Cardholder expressly consents to PPBL sharing his Card details with designated personnel or partners or service providers in accordance with the Privacy Policy of PPBL for the said purposes and shall not hold PPBL liable in this regard.
  13. m)PPBL shall not in any way be responsible for the quality of the products and/or services purchased or availed of by the Cardholder from the Merchants, including but not limited to due to deficiency of services, delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods by the Cardholder. The Cardholder must directly take up with or directly contact the Merchants for the resolution of any dispute or claim that he may have regarding the products and/or services.
  14. n)The Cardholder’s Paytm Wallet (for transit use case, the Transit Sub-wallet) will be debited immediately with the amount of transactions effected by the use of the Card. The Cardholder should maintain sufficient funds in the Transit sub-wallet to meet any such transactions.
  15. o)PPBL shall not be responsible in any manner whatsoever for any loss and/or theft of or damage to the Card once the Card has been dispatched to and/or delivered to the Cardholder at the address communicated by him or handed over to the Customer.
  16. p)PPBL reserves the right at any time to charge the Cardholder for the issue or reissue of a Card and/or any fees/charges for the transactions carried out by the Cardholder on the Card after due intimation to the Cardholder.
  17. q)The Customer can view the schedule of fees and/or charges applicable at https://www.paytmbank.com/ratesCharges.html. PPBL shall be entitled to debit, at its sole discretion and at any point of time, the fees and/or charges due and payable by the Customer in respect of the Cards, if any, from the Customer’s Paytm Wallet. It is further agreed and acknowledged that in case of non-availability of adequate funds in Customer’s wallet the charges will be debited to the Wallet over a period of time till the entire amount is recovered.
  18. r)Any government charges, duty or debits, or tax payable as a result of the use of the Card shall be solely the Cardholder’s responsibility and if imposed PPBL shall debit such charges, duty or tax against the Paytm Wallet.
  19. s)The Cardholder’s Paytm passbook would reflect all the transactions performed through the Card.
  20. t)SMS alerts would be sent to the Cardholder for every transaction done in the Paytm Wallet in accordance with the prevailing laws/regulations.
  21. u)If there is a dispute regarding transactions listed in the Statement, the Customer must inform PPBL within 90 days of the transaction reflecting in the passbook. PPBL will conduct investigation and revert on such transactions.
  22. v)In case of re-issuance of the Card:
    1. a.If Customer has surrendered the old Card- offline balance will be passed on to the newly issued Card.
    2. b.In case of lost/stolen Card- offline balance written on the Card will be loss of Customer.
    3. c.that once the Card is re-issued the onus is on Customer to reinitiate the services on the new Card.
  23. w)A Cardholder can request to permanently block his/her existing Card. A Cardholder can subsequently get a new Card issued to themselves by going through the card activation process provided by Bank.
  24. x)The Cardholder should block his Card temporarily and immediately through the Paytm App if the Cardholder believes or if it comes to his knowledge that his Card details are stolen and/ or if his Card details have been compromised or if there have been unauthorized transactions in the Paytm Wallet on account of usage of the Card. The Cardholder may also contact PPBL for reporting Card loss by visiting its Branch (Address – Ground Floor, B-121, Sector 5, Noida – 201301, Uttar Pradesh) and/or any other bank branches as intimated by PPBL for the said purposes or over the telephone at the numbers of PPBL’s 24-Hour toll-free helplines or Customer Care Service Centre listed under the section- “Contact Us” of PPBL’s website.
  25. y)Once the card is blocked, the card will no longer be usable for any online transaction including add money/recharge transactions. The transactions that were initiated before blocking the card will still continue till, they reach the terminal state. Offline transactions will still be allowed till the offline balance on the card is exhausted. If the balance written on the card is unused till card expiry, amount will be refunded back to customer Wallet/account.
  26. z)The Cardholder must also report the misuse or loss of his Card to the police and lodge a First Information Report (“FIR”).
  27. aa)The Cardholder will be liable for all losses for any misuse of the Card that has happened with his consent or knowledge or in the event of any delay or failure on the part of the Customer to report any unauthorized transactions in the Paytm Wallet on account of usage of the Card and PPBL shall not be responsible in any manner whatsoever. The Cardholder shall indemnify PPBL against any liability, costs or damages arising out of the loss or theft or compromise of the Card details or if there have been unauthorized transactions in the Paytm Wallet on account of usage of the Card. This clause shall survive the cessation of the relationship of the Customer with PPBL and/or closure of the Paytm Wallet.
  28. bb)The Cardholder accepts that it is the complete and sole responsibility of the Cardholder to use the Card in a safe and secure manner and/or to ensure the protection of the Card and/or be liable for all the transactions entered in to and/or routed through the Paytm Wallet. The Cardholder shall keep the Card in safe custody and shall ensure that the same is not accessible to or could not be accessed by any third party. PPBL is under no obligation to verify the authenticity of the transaction or instruction sent or purported to have been sent from the Cardholder on account of the usage of the Card.
  29. cc)The Cardholder hereby agrees and understands that no cash withdrawal transactions at Merchants by way of the usage of the Card are permitted.
  30. dd)PPBL shall be entitled to terminate the Card (and close the Paytm Wallet) with immediate effect upon the failure to adhere to or comply with the terms and conditions herein set forth or upon receipt of any legal and/ or regulatory directions to that effect.
  31. ee)If the Cardholder decides to close his Paytm Wallet with PPBL or upon PPBL’s receipt of information of demise of the Cardholder, the Card(s) issued with his Paytm Wallet would automatically stand cancelled.
  32. ff)The activated Card is valid for 8 (eight) years from the date of activation. Post expiration a new Card will be issued as per PPBL’s Card issuance process.
  33. gg)Once the Card is activated, a Cardholder can deactivate the card temporarily anytime from the Paytm App or can request the Bank for deactivation and such request shall be acted upon by the Bank within such time as communicated by the Bank from time to time. Once the Card is de-activated, the Card will no longer be usable for a transaction until it is re-activated again. The transactions that were initiated before de-activation will still continue till they reach a terminal state. Once the transit sub-wallet is de-activated, add money/recharge transactions will not be possible until it is re-activated again. Offline transactions will still be allowed till the offline balance on the card/ Transit Sub-Wallet is exhausted. In case of lost/stolen/ hotlisted card, balance written on the card will be loss of the customer and Bank shall not be liable for usage of such CardsIf the balance is available on the card even after expiry (8 years from date of issuance) of the card, remaining balance will be refunded to wallet/account of the customer within 30 days of expiry. For refunding the card balance after card expiry- Money left will be refunded to customer’s wallet. If wallet details are not avaialble then CST team will reach out to the customer and ask for account in which money should be refunded.
  34. hh)Post de-activating the Card, a Cardholder may re-activate the Card at any point from the Paytm App. There shall be no cool-off period between deactivation and reactivation requests from the user. Once the card is re-activated, the card can be used for transactions (considering all settings and expiry date are eligible).
  35. ii)Once the transit sub-wallet is re-activated, it can be re-charged. Alternatively, customer can call customer care and place the request to de-acvtivate the card. CST to deactivate the card after verification
  36. jj)Only one Card will be active at any point of time, for a Paytm Wallet.
  37. kk)Bank may too hotlist/ block a Card on request from Cardholder or in cases of identified or suspected fraudulent transactions.
  38. ll)The Bank shall not in any way responsible for any unauthorized leakage of customer credentials or any misuse and abuse of Card at the infrastructure deployed by the Merchant.
  39. mm)The Cardholder shall use the facility to deactivate/reactivate the Card and set/modify transaction limits. The Cardholders can avail this facility on 24X7 basis through their Paytm mobile application/ calling bank customer care; Any change in the status of the Card is communicated by PPBL through SMS on registered mobile number of the customer.
  40. nn)The Cardholder agrees and understands that the OTP issued in respect of the Card by PPBL to it enables the Customer to undertake transactions with Merchants. The Cardholder accepts that it is the complete and sole responsibility of the Cardholder to keep, maintain and use the Card in a safe and secure manner and/or to ensure the confidentiality and protection of the Card and/ or OTP and/or be liable for all the transactions entered in to and/or routed through the Paytm Wallet using the Card and such OTP. The Cardholder shall under no circumstances record the OTP in any form, be it intelligible or unintelligible or in physical writing or in electronic form or otherwise, which is accessible to or could be accessed by any third party, either honestly or dishonestly or act in any manner that would facilitate the OTP coming to knowledge of a third party. The Cardholder grants express authority to PPBL for carrying out transactions or instructions authenticated on the basis of the OTP and shall not revoke or dispute the same. PPBL is under no obligation to verify the authenticity of the transaction or instruction sent or purported to have been sent from the Cardholder.
  41. oo)The Cardholder hereby agrees to indemnify and keep PPBL, its employees, service providers, subcontractors, and/or agents indemnified from and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which PPBL may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of providing the Cardholder the Card or by reason of PPBL exercising due care and diligence and acting or refusing to act upon the Cardholder’s instructions or out of the negligence, mistake or fraud or default or misconduct of the Cardholder or machine/systems failure attributable to the Cardholder or breach or noncompliance of the terms contained herein. Without prejudice to anything contained herein, PPBL shall not be liable to the Cardholder in respect of any loss or damage arising directly or indirectly out of the malfunction of any systems not within its control. For avoidance of doubt, it is clarified that PPBL shall be liable for all direct losses incurred by the Cardholder, caused due to a systems malfunction, which is directly within its control. However, PPBL shall not be liable for any loss caused due to a technical breakdown of the payment system if the same was recognizable by the Cardholder by a message on the display of the device or was otherwise known. The responsibility of PPBL for non-execution or defective execution of the transaction shall be limited to the principal value of the transaction and the interest thereof, if any, subject to the applicable law/s and the policies of PPBL.
  42. pp)For End of Day sweep out latest available transit balance will be considered. If customer has a bank account with PPBL, then sweep out will happen, else customer wallet balance will not go beyond Rs 2 Lac at any given point of time.
  43. qq)Customer will be able to add/keep a Maximum amount of Rs 2000/- in the Transit Sub-wallet at any point of time. This will be governed by overall Wallet limits.
  44. rr)Once the user has purchased the Wallet card they get relevant details on Paytm App. Users will be able to access Wallet Card details via the Manage tap Card section of Paytm App. Users with a NCMC card will be shown the details of their Wallet Card such as current balance of their tap Card (which will be the balance in their transit sub-wallet).
  45. ss)All offline transactions (transactions at Merchants) will be disabled on the Card till contactless flag is not enabled. If customer wants to disable the Contactless Flag, they can do so by accessing the Manage Card section on Paytm App.
  46. tt)Users will be able to recharge their Transit Sub-Wallet either by using their Paytm wallet balance or through other payment modes such as UPI, Card or Net Banking. Users can also add money at the Merchants’ by paying through cash, or any other payment instrument as integrated by the metro operator.
  47. uu)In case of recharge done via the Paytm app, the money added to Transit wallet will first be parked in the block wallet. User will be able to utilize that balance only when he/she scans/taps the card at an AVM machine present at the Merchant premises, to update the balance on their physical card as well. Any money waiting to be written on the card will remain parked in a block wallet till the card is scanned at the AVM or presented to the Merchant.
  48. vv)For cash based Transit Wallet Top ups there is no need to tap the card on the AVM machine as balance will be written on the card by Merchant for cash based top ups.
  49. ww)Customers will be able to find balance available on their card by on Manage card section of their card. This balance may be out of sync at times as the offline transactions are posted to Issuer bank up to 12 hours after the card is used at the transit terminal. This is in accordance with NPCI laid out program guidelines. Customers will also be able to check the balance on their Tap card by visiting station operator at any of the supported transit stations.
  50. xx)Manage card section will also provide details of any balance that has been recharged on the app to the card but hasn’t yet been updated on the physical card (awaiting user to tap the card on AVM)
  51. yy)Balance shown in the transit sub-wallet on Paytm App may not be the actual balance. Customer can check the actual balance at station AVM at any given point of time.
  52. zz)The monies as in the transit block wallet will be auto refunded to the source in every 10 days, if unclaimed/unwritten by the customer.
Paytm Wallet Transit Card
Paytm Wallet Transit Card

Paytm Transit card will be able to swipe at POS

For example your Paytm Wallet balance is Rs 500 and you are buying goods at a shop where Swipe Machine (POS) is there but there is no Paytm Wallet option. In such a situation, with the help of your physical Paytm Wallet card, you will be able to make a payment of Rs 500 through the swipe machine.

Paytm Transit money can be used on Amazon

Similarly, any online merchant who does not take payment from Paytm Wallet, will have to select Debit / Credit card option and make payment by entering Paytm Wallet card’s 16 digit number, expiry date and CVV. This means that through Paytm Wallet Transit Card, you can spend Paytm Wallet balance on many websites including Amazon, PhonePe.

Where to get the option to activate Paytm Transit Card

First of all open Paytm app. On the home page, go to the My Paytm section and click on Paytm Wallet. There you will get the option to activate the Paytm Wallet card at the bottom. At present, this card is being given to the selected users.

Virtual Paytm Transit Wallet Card

These Terms apply to the issuance and usage of Virtual Paytm Wallet Card (hereinafter referred to as ‘VPC’) and shall be in addition to and not in derogation of the general terms and conditions and Wallet terms and conditions.

I. Definitions

Unless indicated otherwise, the capitalized terms listed below shall have the following meanings:

  1. a.“Cardholder” shall mean the Customer to whom the VPC linked to his/her Paytm Wallet has been issued by PPBL.
  2. b.”Rupay Card Scheme” shall mean Rupay card network, that process and settle prepaid card transactions as per the relevant rules formulated by it.
  3. c.”Merchants” shall means any person who owns or manages or operates a Merchant Establishment.
  4. d.”Merchant Establishment” shall mean online Merchants (E-commerce).
  5. e.”OTP” shall mean one time password valid only for a single transaction to authenticate the Customer.
  6. f.“Paytm Wallet” shall have the same meaning as defined in Wallet terms and condition (including but not limited to the various sub-wallets and gift instruments that may be associated to the Paytm Wallet).
  7. g.“User” shall mean the person to whom a Paytm Wallet has been issued by PPBL.
  8. h.”Virtual Paytm Wallet Card” or “Card” shall mean the Virtual Paytm Wallet Card issued by PPBL in electronic format and is linked to the Paytm Wallet of the Cardholder for availing payment facilities, under the aegis of Rupay Card Scheme.

II. Terms

  1. a.The Card shall be issued by PPBL in the name of Cardholder to transact online and provides access to the Paytm Wallet. A User holding a Paytm Wallet can avail the Card from the wallet section of the Paytm app. The Card shall be issued by PPBL to the Cardholder in electronic format (only upon the specific request of the Card Holder). The Cards need to be necessarily linked to the Cardholder’s Paytm Wallet.
  2. b.For existing PPBL Bank account holders, Bank passcode will be validated before activating the Card.
  3. c.For non-PPBL bank account holders, User will be asked to set passcode before activating the Card.
  4. d.Once the passcode is set/validated successfully and KYC status is validated, a Virtual Paytm wallet Card shall be issued.
  5. e.The activated Card is valid for 8 (eight) years from the date of activation. Post expiration a new Card will be issued as per PPBL’s Card issuance process.
  6. f.Only Online payments for Merchant Establishments, can be made through the Card, i.e., The Cards shall be enabled for use only for transactions at Merchant Establishments that accept Rupay based prepaid cards.
  7. g.Cardholder will be provided an option to enable or disable the online payments settings once the Card is activated.
  8. h.Once the Card transaction settings are enabled, a Cardholder can modify the daily limits of that setting (online payments here) anytime via Manage card section available on Paytm app. The overall limits will be limited to the wallet limits as defined by regulators, PPBL or by the User.However, PPBL shall not be responsible for any other limits or transactional caps placed by the Merchant.
  9. i.Once the Card is activated, a Cardholder can deactivate the card temporarily anytime from the Paytm App or can request the Bank for deactivation and such request shall be acted upon by the Bank within such time as communicated by the Bank from time to time. Once the Card is de-activated, the Card will no longer be usable for a transaction until it is re-activated again. The transactions that were initiated before de-activation will still continue till they reach a terminal state.
  10. j.Post de-activating the Card, a Cardholder may re-activate the Card at any point from the Paytm App. There shall be no cool-off period between deactivation and reactivation requests from the user. Once the card is re-activated, the card can be used for transactions (considering all settings and expiry date are eligible).
  11. k.A Cardholder can request to permanently block his/her existing virtual card . A Cardholder can subsequently get a new Card issued to themselves by going through the same card activation process as provided above.
  12. l.The Cardholder should deactivate the Card temporarily immediately through the Paytm App if the Cardholder believes or if it comes to his/her knowledge that his/her Card details are stolen and/ or if his/her Card details have been compromised or if there have been unauthorized transactions in the Paytm Wallet on account of usage of the Card. The Cardholder may also contact PPBL for reporting such cases by visiting its Branch (Address – Ground Floor, B-121, Sector 5, Noida – 201301, Uttar Pradesh) and/or any other bank branches as intimated by PPBL for the said purposes or over the telephone at the numbers of PPBL’s 24-Hour toll-free helplines or Customer Care Service Centre listed under the section- “Contact Us” of PPBL’s website.
  13. m.The Cardholder must also report the misuse of his/her Card to the police and lodge a First Information Report (“FIR”).
  14. n.The Cardholder will be liable for all losses for any misuse of the Card that has happened with his/her consent or knowledge or in the event of any delay or failure on the part of the Customer to report any unauthorized transactions in the Paytm Wallet on account of usage of the Card and PPBL shall not be responsible in any manner whatsoever. The Cardholder shall indemnify PPBL against any liability, costs or damages arising out of the loss or theft or compromise of the Card details or if there have been unauthorized transactions in the Paytm Wallet on account of usage of the Card. This clause shall survive the cessation of the relationship of the Customer with PPBL and/or closure of the Paytm Wallet.
  15. o.The Cardholder accepts that it is the complete and sole responsibility of the Cardholder to use the Card in a safe and secure manner and/or to ensure the protection of the Card and/or be liable for all the transactions entered in to and/or routed through the Paytm Wallet. The Cardholder shall keep the Card in safe custody and shall ensure that the same is not accessible to or could not be accessed by any third party. PPBL is under no obligation to verify the authenticity of the transaction or instruction sent or purported to have been sent from the Cardholder on account of the usage of the Card.
  16. p.Only one Card will be active at any point of time, for a Paytm Wallet.
  17. q.Bank may too hotlist/ block a Card on request from Cardholder or in cases of identified or suspected fraudulent transactions.
  18. r.A cardholder can view the Card number, CVV, and expiry date on successful validation of the passcode only. These details will be used to make any online transaction.
  19. s.The Card issued by PPBL shall be issued on a personalised basis containing the Card Number therein.
  20. t.The Cardholder, prior to applying for the Card from PPBL, shall obtain independent appropriate advice and shall familiarize himself/herself with the associated risks and all the terms and conditions pertaining to the Card.
  21. u.No separate balance shall be available on the Card and the usage of the Card shall be linked to the balance available in the Paytm Wallet. If the Cardholder has existing balance in his/her Paytm Wallet, the same would be accessible when the Cardholder utilises the Card.
  22. v.Payment can be made through the Card only where the Merchants have the requisite card acceptance infrastructure such as association with payment gateways/ aggregators who accept Rupay cards. PPBL shall not be responsible for any inability/ failure of payment at the terminal.
  23. w.The Cardholder agrees that he/she shall not use the Card for payment of any illegal/unlawful purchase/purposes.
  24. x.The issue and use of the Card shall be subject to the rules and regulations in force from time to time, as issued by Reserve Bank of India or any other applicable law in force and that of PPBL.
  25. y.The Card shall be valid for transactions, as permitted by PPBL from time to time in India, at the Merchants accepting the Cards. The Cardholder has been informed and put to knowledge by PPBL that in order to facilitate the transactions, his/her Card details (in masked/encrypted form) shall be collected and shared by PPBL with designated personnel or partners or service providers in accordance with the Privacy Policy of PPBL listed at https://www.paytmbank.com/PrivacyPolicy. The Cardholder expressly consents to PPBL sharing his/her Card details with designated personnel or partners or service providers in accordance with the Privacy Policy of PPBL for the said purposes and shall not hold PPBL liable in this regard.
  26. z.PPBL shall not in any way be responsible for the quality of the products and/or services purchased or availed of by the Cardholder from the Merchants, including but not limited to due to deficiency of services, delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods by the Cardholder. The Cardholder must directly take up with or directly contact the Merchants for the resolution of any dispute or claim that he/she may have regarding the products and/or services.
  1. aa.The Cardholder’s Paytm Wallet will be debited immediately with the amount of transactions effected by the use of the Card. The Cardholder should maintain sufficient funds in the Paytm Wallet to meet any such transactions.
  2. bb.PPBL reserves the right at any time to charge the Cardholder for the issue or re-issue of a Card and/or any fees/charges for the transactions carried out by the Cardholder on the Card after due intimation to the Cardholder.
  3. cc.The Customer can view the schedule of fees and/or charges applicable at https://www.paytmbank.com/ratesCharges.html. PPBL shall be entitled to debit, at its sole discretion and at any point of time, the fees and/or charges due and payable by the Customer in respect of the Cards, if any, from the Customer’s Paytm Wallet. It is further agreed and acknowledged that in case of non-availability of adequate funds in Customer’s wallet the charges will be debited to the Wallet over a period of time till the entire amount is recovered.
  4. dd.Any government charges, duty or debits, or tax payable as a result of the use of the Card shall be solely the Cardholder’s responsibility and if imposed PPBL shall debit such charges, duty or tax against the Paytm Wallet.
  5. ee.The Cardholder’s Paytm Wallet passbook would reflect all the transactions performed through the Card.
  6. ff.SMS alerts would be sent to the Cardholder for every transaction done in the Paytm Wallet in accordance with the prevailing laws/regulations.
  7. gg.If there is a dispute regarding transactions listed in the Statement, the Customer must inform PPBL within 90 days of the transaction reflecting in the passbook. PPBL will conduct investigation and revert on such transactions. For certain disputes the Bank reserves the right to give a temporary credit to the Paytm Wallet during the period of investigation. However, in case the dispute is settled against the Cardholder, the Bank may accordingly debit the amount from the Paytm Wallet.
  8. hh.The Cardholder hereby agrees and understands that no cash withdrawal transactions at Merchants by way of the usage of the Card are permitted.
  9. ii.PPBL shall be entitled to terminate the Card (and close the Paytm Wallet) with immediate effect upon the failure to adhere to or comply with the terms and conditions herein set forth or upon receipt of any legal and/ or regulatory directions to that effect.
  10. jj.If the Cardholder decides to close his/her Paytm Wallet with PPBL or upon PPBL’s receipt of information of demise of the Cardholder or of such physical or mental disability that has rendered the customer unable to use the Card, the Card issued with his/her Paytm Wallet would automatically stand cancelled.The Cardholder under an obligation not to record the passcode used to access Card details, in any form that would be intelligible or otherwise accessible to any third party if access is gained to such a record, either honestly or dishonestly.
  11. kk.The issue and use of the Card shall be subject to the rules and regulations in force from time to time, as issued by the Reserve Bank of India, NPCI, Rupay Card Scheme or any other applicable law in force and that of PPBL.
  12. ll.The Card shall be valid for transactions, as permitted by PPBL from time to time in India at Merchants accepting prepaid cards.
  13. mm.The Bank shall not in any way responsible for any unauthorized leakage of customer credentials or any misuse and abuse of Card at the infrastructure deployed by the Merchant.
  14. nn.The Cardholder shall use the facility to deactivate/reactivate the Card and set/modify transaction limits. The Cardholders can avail this facility on 24X7 basis through their Paytm mobile application/ calling bank customer care; Any change in the status of the Card is communicated by PPBL through SMS on registered mobile number of the customer.
  15. oo.The Cardholder agrees and understands that the OTP issued in respect of the Card by PPBL to it provides access to the Wallet and/or enables the Customer to undertake purchases at various merchant establishments. The Cardholder accepts that it is the complete and sole responsibility of the Cardholder to keep, maintain and use the Card in a safe and secure manner and/or to ensure the confidentiality and protection of the Card and/ or OTP and/or be liable for all the transactions entered in to and/or routed through the Paytm Wallet using the Card and such OTP. The Cardholder shall under no circumstances record the OTP in any form, be it intelligible or unintelligible or in physical writing or in electronic form or otherwise, which is accessible to or could be accessed by any third party, either honestly or dishonestly or act in any manner that would facilitate the OTP coming to knowledge of a third party. The Cardholder grants express authority to PPBL for carrying out transactions or instructions authenticated on the basis of the OTP and shall not revoke or dispute the same. PPBL is under no obligation to verify the authenticity of the transaction or instruction sent or purported to have been sent from the Cardholder.
  16. pp.PPBL shall exercise care when issuing the passcodes/OTP and shall be under an obligation not to disclose the Cardholder’s passcodes/ OTP, except to the Cardholders.
  17. qq.The Cardholder has also the option to change his/her passcode using Paytm App and Cardholder can also make IVR call.
  18. rr.The Cardholder hereby agrees to indemnify and keep PPBL, its employees, service providers, subcontractors, and/or agents indemnified from and against all actions, claims, demands,proceedings, losses, damages, costs, charges and expenses whatsoever which PPBL may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of providing the Cardholder the Card or by reason of PPBL exercising due care and diligence and acting or refusing to act upon the Cardholder’s instructions or out of the negligence, mistake or fraud or default or misconduct of the Cardholder or machine/systems failure attributable to the Cardholder or breach or noncompliance of the terms contained herein. Without prejudice to anything contained herein, PPBL shall not be liable to the Cardholder in respect of any loss or damage arising directly or indirectly out of the malfunction of any systems not within its control. For avoidance of doubt, it is clarified that PPBL shall be liable for all direct losses incurred by the Cardholder, caused due to a systems malfunction, which is directly within its control. However, PPBL shall not be liable for any loss caused due to a technical breakdown of the payment system if the same was recognizable by the Cardholder by a message on the display of the device or was otherwise known. The responsibility of PPBL for non-execution or defective execution of the transaction shall be limited to the principal value of the transaction and the interest thereof, if any, subject to the applicable law/s and the policies of PPBL.

Paytm Contactless Wallet Cards

These Terms apply to the issuance and usage of the NFC enabled Paytm Wallet Cards and shall be in addition to and not in derogation of the general terms and conditions of PPBL governing products and services and the terms and conditions governing the Semi closed wallet terms and conditions.

1. Definitions:

1.1. Unless indicated otherwise, the capitalized terms listed below shall have the following meanings:

Paytm NFC Card” or “Card” shall mean the Paytm Contactless Wallet Card issued by PPBL in physical format which is Near Field Communication (NFC) enabled and is linked to the Paytm Wallet of the Cardholder for availing payment facilities without using the mobile phone.

Cardholder shall mean the wallet holder or the Customer to whom the Paytm NFC Card linked to his Paytm Wallet has been issued by PPBL.

Merchant” means the merchant and/or the commercial establishment which has a specific agreement with PPBL or an agreement through a payment aggregator/payment gateway, to accept the NFC Card for accessing the funds in the wallet to enable payments by the Cardholder through the NFC enabled point of sale point of sale (POS) electronic terminals or NFC enabled devices towards the purchase of products and/or services therein.

POS” means the point of sale (POS) electronic terminals in India, which amongst other things are capable of processing Card transactions and/or where the Cardholder can use his Card to access the funds from the Paytm Wallet linked with the Card to make purchases at various Merchants.

Transaction Limit” shall mean the spend limit per transaction up to which the Cardholder is authorised by PPBL to spend on the Card. The spend limit per transaction in no case shall exceed the sum of Rs. 2000/ and/or any other limit so stipulated by PPBL from time to time.

2. Issuance of Card:

  1. 2.1 The Card shall be issued by PPBL in the name of Cardholder to transact at the Merchants and provides access to the Paytm Wallet.
  2. 2.2 The Card shall be issued by PPBL to the Cardholder in physical format (only upon the specific request of the Cardholder).
  3. 2.3 PPBL may at its sole discretion issue a Card in physical format to the Cardholder and the application of the Cardholder in this regard may be rejected by PPBL without assigning any reasons whatsoever.
  4. 2.4 The Paytm NFC Card can be applied for by the Cardholder through the Paytm App/Website or through Paytm designated agents on the payment of requisite fee/ charges and necessarily needs to be linked to the Cardholder’s Paytm Wallet.
  5. 2.5 The Card issued by PPBL shall be issued on a non-personalised basis containing the Card Number therein.
  6. 2.6 The Cardholder, prior to applying for the Card from PPBL, shall obtain independent appropriate advice and shall familiarize himself with the associated risks and all the terms and conditions pertaining to the Card.

3. Usage of Card:

  1. 3.1 No separate balance shall be available on the Card and the usage of the Card shall be linked to the balance available on the Card. If the Cardholder has existing balance in his Paytm Wallet, the same would be accessible when the Cardholder utilises the Card.
  2. 3.2 The Cardholder can use the Card as per the Transaction Limit assigned by PPBL from time to time. However PPBL shall not be responsible for any other limits or transactional caps placed by the Merchant.
  3. 3.3 Payment can be made through Paytm NFC Card only where the Merchants have the requisite card acceptance infrastructure such as the NFC enabled terminals issued by PPBL to the Merchant or any other NFC enabled devices. PPBL shall not be responsible for any inability/ failure of payment at the terminal.
  4. 3.4 The Cardholder agrees that he shall not use the Card for payment of any illegal/unlawful purchase/purposes.
  5. 3.5 The issue and use of the Card shall be subject to the rules and regulations in force from time to time, as issued by Reserve Bank of India or any other applicable law in force and that of PPBL.
  6. 3.6 The Card shall be valid for transactions, as permitted by PPBL from time to time in India, at the Merchants accepting the Cards. The Cardholder has been informed and put to knowledge by PPBL that in order to facilitate the transactions, his Card details (in masked/encrypted form) shall be collected and shared by PPBL with designated personnel or partners or service providers in accordance with the Privacy Policy of PPBL listed at https://www.paytmbank.com/PrivacyPolicy. The Cardholder expressly consents to PPBL sharing his Card details with designated personnel or partners or service providers in accordance with the Privacy Policy of PPBL for the said purposes and shall not hold PPBL liable in this regard.
  7. 3.7 PPBL shall not in any way be responsible for the quality of the products and/or services purchased or availed of by the Cardholder from the Merchants, including but not limited to due to deficiency of services, delay in delivery, non-delivery, non-receipt of goods or receipt of defective goods by the Cardholder. The Cardholder must directly take up with or directly contact the Merchants for the resolution of any dispute or claim that he may have regarding the products and/or services.
  8. 3.8 The Cardholder’s Paytm Wallet will be debited immediately with the amount of transactions effected by the use of the Card. The Cardholder should maintain sufficient funds in the Paytm Wallet to meet any such transactions.
  9. 3.9 PPBL shall not be responsible in any manner whatsoever for any loss and/or theft of or damage to the Card once the Card has been dispatched to and/or delivered to the Cardholder at the address communicated by him.

4. Fees and Charges:

  1. 4.1 PPBL reserves the right at any time to charge the Cardholder for the issue or reissue of a Card and/or any fees/charges for the transactions carried out by the Cardholder on the Card after due intimation to the Cardholder.
  2. 4.2 Any government charges, duty or debits, or tax payable as a result of the use of the Card shall be solely the Cardholder’s responsibility and if imposed PPBL shall debit such charges, duty or tax against the Paytm Wallet.

5. Transaction Details:

5.1 Statement

  1. a. The Cardholder’s Paytm passbook would reflect all the transactions performed through the Card.
  2. b. SMS alerts would be sent to the Cardholder for every transaction done in the Paytm Wallet in accordance with the prevailing laws/regulations.
  3. c. Transaction Disputes
    If there is a dispute regarding transactions listed in the Statement, the Customer must inform PPBL within 90 days of the transaction reflecting in the passbook. PPBL will conduct investigation and revert on such transactions.

6. Misuse / Compromise of Card Details

  1. 6.1 The Cardholder should block his Card temporarily and immediately through the Paytm App if the Cardholder believes or if it comes to his knowledge that his Card details are stolen and/ or if his Card details have been compromised or if there have been unauthorized transactions in the Paytm Wallet on account of usage of the Card. The Cardholder may also contact PPBL for reporting Card loss by visiting its Branch (Address – Ground Floor, B-121, Sector 5, Noida – 201301, Uttar Pradesh) and/or any other bank branches as intimated by PPBL for the said purposes or over the telephone at the numbers of PPBL’s 24-Hour toll-free helplines or Customer Care Service Centre listed under the section- “Contact Us” of PPBL’s website.
  2. 6.2 The Cardholder must also report the misuse or loss of his Card to the police and lodge a First Information Report (“FIR”).
  3. 6.3 The Cardholder will be liable for all losses for any misuse of the Card that has happened with his consent or knowledge or in the event of any delay or failure on the part of the Customer to report any unauthorized transactions in the Paytm Wallet on account of usage of the Card and PPBL shall not be responsible in any manner whatsoever. The Cardholder shall indemnify PPBL against any liability, costs or damages arising out of the loss or theft or compromise of the Card details or if there have been unauthorized transactions in the Paytm Wallet on account of usage of the Card. This clause shall survive the cessation of the relationship of the Customer with PPBL and/or closure of the Paytm Wallet.
  4. 6.4 The Cardholder accepts that it is the complete and sole responsibility of the Cardholder to use the Card in a safe and secure manner and/or to ensure the protection of the Card and/or be liable for all the transactions entered in to and/or routed through the Paytm Wallet. The Cardholder shall keep the Card in safe custody and shall ensure that the same is not accessible to or could not be accessed by any third party. PPBL is under no obligation to verify the authenticity of the transaction or instruction sent or purported to have been sent from the Cardholder on account of the usage of the Card.
  5. 6.5 The Cardholder hereby agrees and understands that no cash withdrawal transactions at Merchants by way of the usage of the Card are permitted.

7. Termination

  1. 7.1 PPBL shall be entitled to terminate the Card (and close the Paytm Wallet) with immediate effect upon the failure to adhere to or comply with the terms and conditions herein set forth or upon receipt of any legal and/ or regulatory directions to that effect.
  2. 7.2 If the Cardholder decides to close his Paytm Wallet with PPBL or upon PPBL’s receipt of information of demise of the Cardholder, the Card(s) issued with his Paytm Wallet would automatically stand cancelled.

*Disclaimer:
PPBL is currently offering the Paytm Contactless Wallet Card (“NFC Card”) on a “pilot basis” to selected customers. Participation in the said pilot is strictly at PPBL’s sole discretion. Sections one and two of the general terms and conditions governing PPBL’s products and services apply to the customers who have participated or are presently participating in the pilot. PPBL further reserves the right to modify or change the terms pertaining to NFC Card, upon due study/receipt of feedback during the tenure of the pilot, prior to scaling up for the launch of the NFC Card to be offered to all its customers, if found feasible by PPBL.

Also Read,

General Terms and Conditions for Transit Card

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Paytm Wallet Transit Card 5

  • This document lays out the Terms and Conditions (“Terms”) which shall be applicable to all the accounts of any nature (Current/Saving/Wallet or any other product launched by PPBL from time to time and all applicable features and services offered on the account) which are existing or may be maintained anytime in future with PPBL. The words, “I”, “me”, “my”, “him”, “his”, “You” and “Customer” refer to the person(s) who open the account and shall include both singular and plural. Reference to masculine shall include the feminine and third gender. The terms may be accepted by individuals or entities/non individuals such as corporates, partnership firms etc. and the terms within the document need to be construed accordingly irrespective of the usage therein.
  • The terms and conditions in relation to the account set out below are applicable to and binding on You in conjunction with the SSOID terms and conditions already accepted by You. Each SSOID term or condition is applicable to and binding on You, or any of Your activities on the Platform, even if such term or condition is not specifically reproduced herein below. The terms “Agreement’ or ‘T&Cs’ mentioned herein below includes the terms and conditions in relation to the account set out below, the SSOID terms and conditions, and other service-specific terms and conditions in relation to Services or Platform.
  • By registering for or using the site or the platform/network or downloading the app, You agree to be bound by these terms and the various products/services offered by PPBL shall be governed by these terms and conditions.
  • If You do not accept these terms, please do not use the site or the platform/network or app.
  • The “Bank” or “PPBL” refers to Paytm Payments Bank Ltd. (including its successors and assignees), a banking company incorporated in India under the Companies Act 2013 and having its registered office at 136, First Floor Devika Tower, Nehru Place, New Delhi – 110019.
  • These Terms may be read as a stand-alone document or be read with other such documents as may apply to a particular account/ service/ situation/ circumstance/ transaction. The Customer acknowledges and agrees that PPBL may at its sole discretion add to, modify or amend the Terms (including the Charges) from time to time and such changes shall be communicated to the Customer. The Terms shall be available at PPBL branches and on PPBL’s website/app. PPBL may publish notices of general nature which are applicable to the Customers on its website or on its notice board, or on the Customer’s email address or in any other mode as may be decided by PPBL. Such notices would have the same effect as a notice served individually to each Customer. The Customer shall be given a period of 30 days from the issue of the notice, within which the Customer shall have to right to close the Account or discontinue availing of the services, failing which he shall be deemed to have accepted the change from the effective date mentioned in the notice. The Customer agrees that the opening and maintenance of the Account and availing of the Services is subject to the rules and regulations introduced or amended from time to time by the Reserve Bank of India. In the event that any provision of these Terms is held to be in violation of any applicable Law or if for any reason a court of competent jurisdiction finds any provision of these Terms or portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to effect the intent of these Terms, and the remainder of these Terms shall continue in full force and effect. The Customer shall be responsible to keep himself updated and shall regularly check the terms and conditions, notices, communications so sent and/or uploaded on PPBL website from time to time
  • Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force. All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms.

Terms:

  1. 1. The Customer shall abide by PPBL’s Terms and Conditions and rules as set out below and the changes thereto as communicated through and/or made available on PPBL’s website/mobile banking application (“App”) from time to time. Customer agrees that the opening and maintenance of the account and/or availing of the banking products and/or services so offered by PPBL are subject to rules and regulations introduced or amended from time to time by the Reserve Bank of India (“RBI”) or National Payments Corporation of India (“NPCI”) or any other regulatory or statutory authority. The Customer hereby agrees and understands that PPBL reserves sole discretion to accept or reject the Customer’s application for opening and maintenance of the account and/or for availing of banking products and/or services so offered by PPBL and that the PPBL’s decision in this regard would be final. The Customer further agrees that the availment of and/or maintenance and/or operation of the account and/or banking products and/or services so offered by PPBL shall be governed by various policies and/or procedures and/or standards of PPBL and that the PPBL’s decision in this regard would be final. The Customer shall execute all necessary documents/forms and/or furnish all information and/or comply with all the requirements so communicated by PPBL from time to time.
  2. 2. Any amendment of any of these Terms proposed by You shall not be effective unless it shall be reduced to writing through an amendment form and accepted by PPBL through its authorised signatory. Amendments made under this clause shall be deemed to be a part of Terms and, in case of any contradiction, the amendment form shall prevail. The Terms herein shall be subject to the notifications / guidelines issued by RBI from time to time.
  3. 3. Customer agrees that PPBL before entering into any relationship including, account based relationship, will carry out due diligence as required under Know Your Customer (“KYC”) guidelines of the Bank pursuant to the directions issued by RBI. Customer shall submit necessary documents or proofs, such as identity, address, photograph and any such information to meet with KYC, Anti Money Laundering (“AML”) or other statutory/regulatory requirements. Further, after the opening of account, in compliance with the extant regulatory guidelines, Customer agree to submit the above documents again at periodic intervals, as may be required by PPBL. PPBL will not be responsible or liable for any violation by You of applicable law, regulation, or guideline. You hereby declare that Your name does not, at anytime, appear in the consolidated list of terrorist Individuals/ organizations as circulated by the Statutory, Regulatory and Government authorities from time to time.
  4. 4. Customer agrees that PPBL may, at its discretion, engage the services of Business Facilitators (hereinafter referred to as “BF”) and Business Correspondents (hereinafter referred to as “BC”) for extension of banking and financial services so as to ensure greater financial inclusion and increasing the outreach of the banking sector. PPBL, however, shall be responsible for the acts and omissions of such BC and BF.
  5. 5. Customer agrees that, under normal circumstances, PPBL has the liberty to close the account at any time by giving him 30 calendar days notice.
  6. 6. Customer agrees that PPBL can at its sole discretion, amend any of the services/facilities given in particular account either wholly or partially at any time by giving him notice and/or provide an option to him to switch to other products/services/facilities.
  7. 7. Any change in the account status or change of address or change in mobile number shall be immediately informed by the Customer to PPBL, failing which Customer shall be responsible for any non-receipt of communication/deliverables/transactional messages or the same being delivered at the old address/mobile number so registered in the records of PPBL. The Customer hereby agrees and understands that access to the electronic transaction services/mobile app of the Customer may be restricted in case of invalid mobile number.
  8. 8. Customer understands acknowledges that he shall immediately inform PPBL in case of any change and/or deactivation of his registered number and shall duly get the same changed in the records of PPBL. Customer shall be solely liable and shall keep PPBL indemnified against any claim, suit, threat of suit, notice etc. in case of any delay or failure on part of the Customer to inform the same to PPBL thereby leading to any unauthorized access to and/or usage of his account details/credentials.
  9. 9. PPBL shall not be liable for any consequences arising out of non-compliance by PPBL of Customer’s instructions due to inadequacy of funds.
  10. 10. PPBL shall not be liable for any damages, losses (direct or indirect) whatsoever, due to disruption or non availability of any of services/facilities due to technical fault/error or any failure in telecommunication network or any error in any software or hardware systems beyond the control of PPBL.
  11. 11. In case of the accounts being opened by PPBL for minors, the same shall be opened in the name of the minor and be subject to the completion of all the formalities by the guardian/parent of such minor as required by PPBL including but not limited to providing consent for the opening and maintenance of such minor accounts. The guardian/parent shall do, perform, execute documents and/or undertake all necessary actions which PPBL may require in this regard. Such accounts shall be self- operated by the minor account holder and all the Terms contained herein shall apply to such minor accounts. The guardian/parent shall be solely and exclusively bound by the Terms and the guardian/parent further agrees, confirms and undertakes that he is solely and exclusively liable and responsible for all transactions undertaken by the minor account holder in such account and/or towards any monies due and payable to PPBL and/or any other third party arising out of the maintenance and operations of such minor accounts. Upon the minor account holder attaining majority, the minor account shall be converted to a regular account upon completion of the requisite formalities as required by PPBL.
  12. 12. The Customer hereby is put to notice and understands that PPBL has adopted the security procedure for authentication of the Customer by way of verification of the Customer’s registered mobile number in conjunction with the password for signing in to the App and/or the passcode set by the Customer for undertaking transactions and/or any other procedure for authentication of the Customer as informed by PPBL from time to time. The Customer understands that these procedures are not recognized under Sections 3 and 5 of the Information Technology Act 2000 which lay down the procedure for authentication of electronic records providing that a subscriber authenticate the same by affixing his digital signature and in relation to legal recognition to digital signature for authentication of electronic records respectively. The Customer hereby conveys full comprehension of and acceptance to the abovementioned security procedures followed by PPBL and further agrees and understands that any unauthorized disclosure, access, breach and/or use of the same can put the security of the Customer’s account at risk. The Customer therefore hereby agrees and understands that in order to avoid any legal risks arising out of the usage of the abovementioned procedures of PPBL, the Customer shall maintain complete confidentiality, secrecy, possession and protection of the mobile phone/device, App, security procedure related details and/or verification parameters including but not limited to the registered mobile number, password and passcode set by the Customer or any other procedure as may be communicated by PPBL at its sole discretion.
  13. 13. The Customer hereby understands and agrees that failure and/or delay by the Customer to furnish details so required by PPBL to comply with its legal/statutory/regulatory obligations may result in closure of the Account and/or placement of restrictions on the Account by PPBL after due notice(s) to the Customer.
  14. 14. Consent to Electronic Communications and Transactions
    • 14.1 You consent to conduct Transactions and receive communications, notices and information from us electronically, whether sent by e-mail or other electronic means. Electronic communications shall be deemed to have been received by You when PPBL sends an electronic communication to Your e-mail address/mobile number as per our records, or when PPBL posts an electronic communication on the Platform.
    • 14.2 PPBL may send any communications/letters etc. through courier/registered post/messenger/email/SMS/in app notifications or through any other mode at its discretion and PPBL shall not be liable for any delay arising there from or for any errors or issues in the address/mobile number as provided by You. The same shall be the sole responsibility of the Customer.
  15. 15. Disclosure: In case any personal information or data is collected by PPBL, the same shall be dealt with in accordance with PPBL’s privacy policy which is available on PPBL’s website.
  16. 16. Records of Transactions:
    The records of transactions of Bank shall be conclusive against and binding on You except in the case of computation and/or manifest error.
  17. 17. In case there are no transactions initiated by Customers in the account for a continuous period of two years (excludes system generated transactions like credit interest, debit interest), then the account would be treated as a ‘Dormant’ Account by PPBL as per RBI guidelines. Customer agrees that the account status would change to ‘Active’ only on Customer’s instruction in this regard and after re-KYC formalities as deemed necessary by PPBL. Customer understand that until the account status is ‘Dormant’, transactions through Direct Banking Channels like ATM, Net Banking, Phone-banking. Debit Card may not be allowed by PPBL.
  18. 18. Bank shall be entitled at its discretion to engage/avail of, at the risk and cost of the Customer, services of any person/third party service provider/agent/agency, for anything required to be done for/in relation to/pursuant to any of the products/services offered, getting or verifying any information of the Customer/assets, and any necessary or incidental lawful acts/deeds/matters and things connected thereto, as PPBL may deem fit.
  19. 19. Intellectual Property Rights:
    • a. PPBL shall remain absolute owner of all intellectual property rights belonging to it and shall have the right to not return the application, the photographs, information and documents submitted by the Customer.
    • b. No part or parts of PPBL’s website/App may be reproduced, distributed, republished, displayed, broadcast, hyperlinked, transmitted, adapted, modified to create derivative works or otherwise commercially exploited in any manner or by any means or stored in an information retrieval system without Bank’s prior written permission. You may view, print or use PPBL’s content for personal, non-commercial use only, provided further that You do not modify the content and that You retain all copyright notices and other proprietary notices contained in the content. The trademarks, service marks, and logo (“Trade Marks”) used and displayed in or through PPBL’s App/website are registered or unregistered Trade Marks of PPBL/others (as applicable). Nothing in PPBL’s App/website will be construed as granting, by implication, estoppels, or otherwise, any license or right to use any Trade Marks displayed in or through PPBL’s App/website, without Bank’s written permission.
    • c. PPBL, or its licensors, own all right, title and interest, including, but not limited to all copyright, trademark, patent, trade secret or other proprietary rights (hereinafter IP Rights), in and to the Platform, Services, various products including Paytm Wallet, Food Wallet or usage data. You shall not reproduce, distribute, transmit, modify, create derivative works, display, perform or otherwise use the Platform, Services or products or any of the IP Rights, or attempt to reverse engineer, decompile, disassemble, or derive the source code for the Platform, its products/services to create a competing product. Unauthorized use of “Paytm” as a word, trademark, symbol, device mark or word mark, is strictly prohibited. All rights are expressly reserved by PPBL to use the brand of “Paytm” in all its forms and variations.
  20. 20. PPBL reserves the right to record telephonic conversations with Customers for internal quality control purposes and as an evidence in case of any disputes.
  21. 21. Notwithstanding the documentation and account opening form (physical or digital) provided, PPBL reserves the right to accept / reject the Customer’s application. PPBL’s decision in this regard would be final.
  22. 22. The banking products, may be made available through the internet/mobile banking platform or any similar platform of PPBL (platforms through which the Customer can access/monitor the account) and PPBL may use such platform for providing the Customer the facility to complete online application as well. Every usage and operation of the internet banking or any such other platform using Customer mobile device, should be deemed to be usage and operation personally by the Customer himself and in physically and mentally stable state notwithstanding any loss, theft, hacking etc. of the password; and that PPBL shall not be required to check the identity of the person operating the internet/mobile banking account at any point of time or his mental or physical stability
  23. 23. Compromise of Account:
    • a. Customer should contact PPBL immediately by raising a request through Contact Us’ section in the mobile App or by visiting/writing to our Main Branch (Address – Ground Floor, B-121, Sector 5, Noida – 201301, Uttar Pradesh), if he/she believes that his/her account is compromised, or if someone else knows his/her PIN or other security information. Customer can also reach out to us at [email protected] or on + 91 120 4621182/1187
    • b. Customer must report the misuse of his/her account to the police and lodge an FirstInformation Report (“FIR”).
    • c. Customer will not be liable for any misuse of account after he/she has informed PPBL of the compromise and has received an acknowledgement from PPBL to that effect, unless he/she has acted with gross negligence or malicious intent. Customer shall be liable for all losses for any misuse that have happened with his/her consent or knowledge.
  24. 24. Right to suspend/close/convert/terminate/ by PPBL: PPBL reserves the right to suspend/discontinue its products/services to the Customer and/or to sever its banker-customer relationship with the Customer and/or to refuse or delay processing of transactions initiated by the Customer, at any time, for any cause, including, but not limited, to the following-
    • i. For any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of the terms and conditions mentioned in these terms.
    • ii. For any suspected discrepancy in the particular(s), documentation or Enrollment Form provided by the Customer;
    • iii. To combat potential fraud, sabotage, willful destruction, money laundering activities, threat to national security, for any other force majeure reasons etc;
    • iv. If the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons.
    • v. If the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;
    • vi. If the mobile connection with which the Customer’s Bank product/service is related ceases to be operational or in the Customer’s possession or control.
    • vii. If the Customer indulges in any abusive or aggressive or threatening behavior or any act or any intimidation or harassment of any kind (be it verbal or physical or written) against any employee / representative / agent of PPBL.
    • viii. If PPBL believes, in its reasonable opinion, that cessation/ suspension is necessary.
    • ix. if the customer is using the bank account as provisioned by PPBL in negative line of business, as listed at: LOB
  25. 25. Warranty:
    • 25.1. No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, is given in conjunction with PPBL’s products/services or any data/content. While bank may apply such technology as it deems fit to ensure the security of and prevent unauthorised access to its products/services, bank does not warrant that products/services or any content/data will be provided uninterrupted or free from errors or that any identified defect will be immediately corrected. Further, no warranty is given that products/services or any data/content are free from any computer virus or other malicious, destructive or corrupting code, agent, program or macros. Bank provide the products/services an “as is”, “where is”, “with all faults” basis.
    • 25.2. Customer acknowledges that he/she has not solely relied on any representation/warranty made by PPBL, service providers, subcontractors or agents and has made independent assessment of bank’s products/services. It is Your responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise and other information provided through the Platform or on the Internet generally. Except for PPBL’s service providers, subcontractors and agents, no person or entity who is not a party to these terms will have any right to enforce these terms, regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description. For the avoidance of doubt, this will not affect the rights of any permitted assignee or transferee of these Terms.
  26. 26. For our Customer Grievance Redressal Policy, please click here
  27. 27. Indemnity:
    • 27.1 Customer shall indemnify and hold PPBL/other Customers harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which PPBL/other Customers may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of (i) providing any of the services hereunder or due to any negligence/mistake/misconduct on Customers’ part or (ii) breach or non-compliance of any of the Terms relating to any of the products/services or (iii) by reason of PPBL in good faith taking or refusing to take action on any instruction given by the Customer or any breach of the representations, warranties, and covenants made by the Customer. Customer agree and undertakes to fully indemnify Bank, its service providers, subcontractors, and agents, and to hold each of the aforementioned parties harmless, from and against all liabilities (including settlement sums), losses, charges and expenses (including legal fees and disbursements), claims, demands, actions and proceedings which Bank, its service providers, subcontractors and agents may incur, suffer or sustain directly or indirectly from or by reason of or in relation to the use, misuse or purported use or misuse of Bank’s products/services, and will pay such monies to Bank upon its demand.
    • 27.2 You hereby acknowledge that when PPBL acts on any notice, demand or other communication sent by email by you or your authorized representative, or via other forms of electronic or data transmission, PPBL, acting upon such instruction so received shall not be responsible or liable in the event such notice demand or other communication is not an authorized or authentic notice, demand or other communication or is not in the form you or your authorized representative sent or intended to send (whether due to fraud, distortion or otherwise). You hereby indemnify and agree to keep PPBL indemnified against any loss, liability, claim, suit, threat of suit or expense (including legal fees and expenses) that PPBL may incur with its acting in accordance with any such notice, demand or other communication sent through email or other form of electronic or data transmission. This clause shall survive the termination of your banking relationship with PPBL.
  28. 28. Right of Lien/Set off:
    • 28.1 Customer hereby grants and confirms the existence of the right of lien and set-off with PPBL, which PPBL may at any time without prejudice to any of its specific rights under any other agreements with the Customer, at its sole discretion and without notice to Customer utilize to appropriate any monies belonging to such Customer and lying/deposited with PPBL or due by PPBL to the Customer, towards any of PPBL’s dues, overdrawings/overdrafts and outstandings, including any charges/fees/dues payable under these Terms and Conditions.
    • 28.2 Further, Customer hereby also grants and confirms the existence of the right of lien and set-off with PPBL, which PPBL may at any time without prejudice to any of its specific rights under any other agreements with the Customer, at its sole discretion and without notice to Customer utilize and/ or appropriate any monies belonging to such Customer and lying/deposited with PPBL or due by PPBL to the Customer and/ or any balance monies lying and/or any monies deposited and/ or any future receivables by way of deposit of the monies in Customer account/Wallet in order to recover funds for transactions which are incorrectly or erroneously processed.
    • 28.3 PPBL shall also be entitled to freeze operations in the account of a customer and/or to the right of lien and set-off with or without notice, if PPBL is of the view and/or suspects any omission and/or commission including but not limited to any malafides / fraud / mischief / impersonation / phishing / hacking / unauthorized access etc., for such period as it may deemed fit until it has received to its satisfaction the necessary clarifications as sought from the Customer and/or until it is convinced that operations in the account can recommence. The Customer shall forthwith furnish all clarifications/information sought by PPBL and PPBL shall not be held responsible or liable for any losses, expenses, costs etc. suffered or incurred by the Customer by reason of freezing of the account and/or on account of the exercise of the right of lien and set-off by PPBL. PPBL shall also be entitled to free the account or remit the amount standing to the credit of the account(s) whether jointly or singly, as the case may be, to the concerned authority without any notice to the Customer pursuant to the receipt of any notice or direction to that effect from any statutory/regulatory/legal/investigative authorities.
  29. 29. Damages & Limitation of liability:
    • 29.1. Notwithstanding anything to the contrary PPBL, its successors, agents, assigns, and each of their directors, officers, employees, associates, agents, and representatives shall in no event be liable to the Customer or any other person for:
      • i. Any indirect, incidental, special, consequential, punitive or economic loss, expense or damage arising from or in connection with any access, use or the inability to access or use PPBL’s products/services and data/content or reliance on those, howsoever caused and regardless of the form of action (including tort or strict liability);
      • ii. any downtime costs, loss of revenue or business opportunities, loss of profit, loss of anticipated savings or business, loss of data, loss of goodwill or loss of value of any equipment including software; and/or
      • iii. any loss or damage arising as a result of improper usage or malfunction of any computer or mobile phone or other telecommunications equipment used to access Bank’s products/services or incompatibility thereof with our systems;
      • iv. Additionally, Bank shall be under no liability for any damage, loss or expense, or for any obligation to pay or reimburse interest for unsuccessful crediting or debiting of money through the use of Bank’s products/services, unless the same is directly attributable to wilful default or gross negligence on the part of PPBL. Further PPBL shall not be liable for any loss suffered by the Customer or any third party arising from and in connection with the Customer’s registration of, access to and use of Bank’s website/App except where such loss is solely and directly attributable to PPBL’s gross negligence or wilful default.
    • 29.2. PPBL shall not be liable for any inconvenience, loss, cost, damage or injury suffered by the Customer or any third party arising from or caused by:
      • a. Act or omission of any third party including but not limited to any equipment or software providers, any service providers, any network providers (including but not limited to telecommunications providers, internet browser providers and internet access providers), or any agent or subcontractor of any of the foregoing;
      • b. Use of PPBL’s by third persons/parties, whether authorised or unauthorised by the Customer;
      • c. transfer of funds to the wrong mobile number/recipient/account by the Customer;
      • d. Theft or loss of the Customer’s mobile phone/device, hardware and/or equipment on which the app is installed;
      • e. The Customer’s inability to effect or complete any transaction due to system maintenance or breakdown/non-availability of the App/website or any network;
      • f. The Customer being deprived of the use of the App/website as a consequence of any act or omission by PPBL for any reason including but not limited to compliance with any applicable laws and/or regulations and any instructions and/or directions given by any local or foreign regulatory body, government agency, statutory board, ministry, departments or other government bodies and/or its officials.
    • 29.3 Notwithstanding anything to the contrary, in no event, shall PPBL or any of its directors, employees, agents and/or personnel, be liable to You for any damages, liabilities, losses, and causes of action arising out of or relating to: (i) this agreement, the platform or any reference site, app, products or services; or (ii) Your use or inability to use the reference site, app, products or services or any reference site; or (iii) any other interactions with ppbl; however caused and whether arising in contract, tort including negligence, warranty or otherwise, beyond or in excess rs. 5,000, or the amount as mentioned under the rbi guidelines, whichever is less.
    • 29.4 You acknowledge and agree that PPBL has offered its products and services, set its prices, and entered into this Agreement in reliance upon the warranty disclaimers and the limitations of liability set forth herein, that the warranty disclaimers and the limitations of liability set forth herein reflect a reasonable and fair allocation of risk between You and PPBL, and that the warranty disclaimers and the limitations of liability set forth herein form an essential basis of the bargain between You and PPBL.
    • 29.5 PPBL would not be able to provide the services to You on an economically reasonable basis without these limitations. This section shall survive the termination of this Agreement.
  30. 30. Force Majeure:
    • a. PPBL shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of PPBL to perform any of its obligations under these Terms, or those applicable specifically to its services/facilities if performance is prevented, hindered or delayed by a Force Majeure event (defined below) and in such case its obligations shall be suspended for so long as the Force Majeure event continues.
    • b. “Force Majeure Event” means any event due to any cause beyond the reasonable control of PPBL, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.
  31. 31. Governing Law and Jurisdiction:
    • 31.1. All claims, matters and disputes are subject to the sole and exclusive jurisdiction of the competent courts in New Delhi only. These Terms and Conditions and/or the operations in the accounts of the Customer maintained by PPBL and/or the use of the services provided by PPBL shall be governed by the laws of the Republic of India and no other nation. PPBL accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Republic of India.
    • 31.2. The Paytm Wallet is governed by RBI direction on Issuance and Operation of Prepaid Payment Instruments in India (Reserve Bank) Directions, 2009 (as amended and supplemented from time to time) and is also subject to directions / instructions issued by the RBI from time to time in respect of redemption, repayment, usage, etc. PPBL will not be responsible or liable for any violation by You of any applicable law, regulation, or guideline. You hereby declare that Your name does not, at any time, appear in the consolidated list of terrorist individuals/organizations or on any such list of persons engaging in unlawful activities as circulated by the RBI or any government department or agency from time to time.
    • 31.3. In case of any complaint relating to the features of any of the products/services of PPBL, Customer can approach the Grievance Redressal Cell within PPBL for a resolution and if they do not get a satisfactory response within 30 days of lodging the complaint, then, under the Banking Ombudsman Scheme 2006, details of which are available at www.bankingombudsman.rbi.org.in.
  32. 32. Miscellaneous:
    • 32.1 In the event that any provision of these Terms is held to be in violation of any applicable Law or if for any reason a court of competent jurisdiction finds any provision of these Terms or portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to effect the intent of these Terms, and the remainder of these Terms shall continue in full force and effect.
    • 32.2 The failure of PPBL to exercise or enforce any right or provision of the the T&Cs or this Agreement will not constitute a waiver of such right or provision. Any waiver of any provision of the T&Cs or this Agreement will be effective only if in writing and signed by PPBL. To the maximum extent permitted by law.
  33. 33. Assignment
    • 33.1. These Terms and any rights granted hereunder, may not be transferred or assigned by You without PPBL’s prior written consent which may be withheld in PPBL’s sole discretion., but these terms and any rights granted hereunder, may be assigned by PPBL without any restriction.
    • 33.2. PPBL’s privacy policy applies to use of the Platform, and its terms are made a part of these T&Cs by this reference. Additionally, by using the Platform, You acknowledge and agree that Internet transmissions are never completely private or secure. You understand that any message or information You send to the Platform may be read or intercepted by others, even if there is a special notice that a particular transmission (for example, credit card information) is encrypted.

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