1. About these Terms
These Terms of Use ("Terms") govern your use of the PayKaasu website www.paykaasu.com and related services (together, the "Platform"). The Platform is owned and operated by ForLoopTech Solutions Private Limited, a company incorporated in India with its registered office at 8th Floor, Naman Chambers, G-Block, Bandra-Kurla Complex, Bandra East, Mumbai, Maharashtra 400051, India ("PayKaasu", "we", "us" or "our").
By creating an account, accessing the Platform or making a payment, you agree to these Terms, our Privacy Policy, and any other policies published on the Platform. If you do not agree, please do not use the Platform.
"You" or "User" means the person or business entity using the Platform. If you use the Platform on behalf of a business, these Terms bind that business.
2. Definitions
| Term | Meaning |
|---|---|
| Services | The vendor payment services offered on the Platform, which let you pay Payees using a credit card, with settlement to the Payee's bank account |
| Payee | Any vendor, supplier, contractor or service provider you pay through the Platform |
| Transaction | A payment instruction you place on the Platform that results in funds being settled to a Payee |
| Transaction Amount | The amount to be received by the Payee, excluding the Convenience Fee and taxes |
| Convenience Fee | The fee charged by PayKaasu for each Transaction, shown before you confirm the payment |
| Payment Partners | Regulated payment aggregators, payment gateways, banks, card networks and other entities we work with to process and settle payments |
| Card Issuer | The bank or institution that issued the credit card you use on the Platform |
| Self-Transfer | Any payment to your own account, or to an account owned or controlled by you, your relatives, partners, directors or related entities, other than for a genuine purchase of goods or services |
| User Account | Your registered account on the Platform |
| Profile-based Limits | Per-transaction and periodic limits set by us based on your business profile, KYC status and risk assessment |
3. What PayKaasu does
PayKaasu is a technology platform. We enable you to pay your Payees using your credit card, through our Payment Partners, who process the card charge and settle funds to the Payee's bank account.
- PayKaasu is not a bank and does not lend money. Any credit period you enjoy comes from your Card Issuer under your card terms.
- We act on your instructions as a facilitator of payments and do not take part in the underlying transaction between you and your Payee.
- Payment processing and settlement are carried out through Payment Partners regulated by the RBI.
- Interest, late payment charges, reward points and any other benefits or charges on your card are governed by your Card Issuer, not PayKaasu.
4. Eligibility
To use the Services, you must:
- be at least 18 years old and legally able to enter into a binding contract;
- be a business, or an authorised representative of a business, registered and operating in India;
- hold a valid credit card issued in India; and
- complete our KYC requirements.
We may change eligibility criteria at any time. If you no longer meet them, we may restrict or suspend your access to the Services.
5. Your account and KYC
When you register, you agree to provide true, accurate, current and complete information, including identity proof, PAN, GSTIN and business details. You authorise us and our partners to verify this information with third-party sources.
You must keep your information up to date, including any change in contact details, ownership, legal status or closure of your business.
You are responsible for keeping your login credentials, OTPs and devices secure. All activity carried out through your User Account using valid credentials will be treated as authorised by you. Tell us immediately at info@paykaasu.com if you suspect unauthorised use.
6. Permitted and prohibited use
You may use the Services only to pay Payees for genuine, lawful business purposes, for goods or services that you have received or will receive at the same time as payment.
You must not use the Services to:
- make Self-Transfers, or move funds to yourself or related parties to obtain cash or liquidity;
- make payments against fake, inflated or duplicate invoices, or for goods or services that were never supplied;
- use a card that does not belong to you or your business without authorisation;
- pay for anything illegal, including gambling, betting, lottery, virtual digital assets or cryptocurrency, pornography, or goods and services prohibited by law or by card network rules;
- launder money, finance terrorism or evade tax;
- split payments to avoid limits or checks;
- provide false or misleading information about yourself, your business, a Payee or a Transaction;
- interfere with, hack, reverse-engineer, scrape or overload the Platform, or create accounts by automated means; or
- impersonate any person or misrepresent your connection with any person or business.
If we reasonably suspect any prohibited use, we may hold, refuse or reverse the Transaction, suspend your account, and report the matter to the relevant authorities.
7. How payments work
- Adding a Payee. You provide the Payee's name and bank details. We run an account verification before the first payment to a new Payee. This check reduces errors but does not replace your responsibility for entering correct details.
- Placing a payment. You enter the Transaction Amount, invoice details and settlement mode. We show you the Convenience Fee, applicable GST and total amount to be charged to your card before you confirm.
- Authorisation. You authorise the charge using your Card Issuer's authentication (such as OTP / 3-D Secure). A successfully authenticated Transaction is conclusive proof that you authorised it.
- Settlement. Once the charge is successful, the Transaction Amount is settled to the Payee's bank account through our Payment Partners using IMPS, NEFT or RTGS.
- Confirmation. We provide a Transaction confirmation with a reference ID and UTR number, which serves as your receipt.
We may ask you for invoices, proof of delivery or other documents to support any Transaction, and you agree to provide them promptly.
8. Settlement timelines
| Mode | Target settlement |
|---|---|
| Instant | Same day, subject to banking hours and cut-off times |
| Standard | Next working day (T+1) |
Settlement timings are targets, not guarantees. They depend on your Card Issuer, Payment Partners, the Payee's bank, banking holidays and system availability. Payments placed on non-working days or after cut-off times are settled on the next working day.
We may delay or hold a settlement where we need to verify a Transaction, investigate suspected fraud, or comply with law or a direction from an authority or Payment Partner.
9. Fees and taxes
- A Convenience Fee applies to each Transaction. The applicable fee is shown on the Platform before you confirm the payment, and you proceed only if you accept it.
- GST and other applicable taxes are charged on the Convenience Fee. We issue a GST invoice for the fee.
- We may change our fees at any time. Changes apply only to Transactions placed after the change is published on the Platform.
- The Convenience Fee on a successfully completed Transaction is non-refundable, except as set out in Section 11.
- Your Card Issuer may apply its own charges, interest or restrictions, including on reward points, for this type of transaction. These are between you and your Card Issuer.
- You are responsible for all taxes that apply to your business and your payments to Payees, including any tax deduction at source.
10. Profile-based limits
We set per-transaction and periodic limits based on your business profile, KYC status, transaction history and risk assessment. We may change these limits, decline Transactions that exceed them, or ask for additional documents before increasing them.
11. Cancellations and refunds
- Cancellation: a Transaction cannot be cancelled once it has been authorised and submitted for processing.
- Technical failure: if your card is charged but the Transaction fails, or the Payee's bank rejects the transfer, the full amount, including the Convenience Fee and taxes, will be refunded to your card within 1 working day.
- Wrong details: if you enter incorrect Payee details and the funds are credited to that account, we cannot reverse the payment. We will make reasonable efforts to help you contact the receiving bank, but we are not liable to refund the amount.
- Disputes with a Payee: once funds reach the Payee, any refund must be arranged directly between you and the Payee.
- Reporting issues: please report any problem with a Transaction to info@paykaasu.com within 2 days of placing it.
12. Chargebacks and disputed transactions
Disputes about the quality, quantity, delivery or price of goods or services are strictly between you and your Payee. PayKaasu is not a party to your contract with the Payee.
If your Card Issuer, a card network, a Payment Partner or an authority raises a chargeback or reports a Transaction as unauthorised, we may:
- hold settlement of the related Transaction while it is investigated;
- ask you for supporting documents; and
- act on the outcome decided by the Card Issuer, card network or authority.
Where a chargeback is decided in your favour, we will pass on any amount we actually receive within 7 working days.
13. Records
We keep a record of your Transactions in your User Account and can provide a statement for up to 12 months on request. You are responsible for maintaining your own business records and reconciling your accounts.
14. Communications
By registering, you agree that we, our Payment Partners and service providers may contact you by SMS, email, phone call, WhatsApp and notifications on the Platform about your account, Transactions, security and service updates. We may also send promotional messages, which you can opt out of at any time. Transactional and security messages cannot be switched off while your account is active.
15. Intellectual property
The Platform, the PayKaasu name, logo and all content on the Platform are owned by or licensed to PayKaasu. You may not copy, modify, distribute or use them without our written permission. We grant you a limited, non-exclusive, non-transferable right to use the Platform for its intended purpose while these Terms apply.
16. Disclaimers
The Platform and Services are provided on an "as is" and "as available" basis. While we work to keep the Platform secure and available, we do not guarantee that it will be uninterrupted, error-free or free of harmful components.
We do not guarantee the availability of credit, interest-free periods or reward points, which depend on your Card Issuer. We are not responsible for the goods or services supplied by your Payees.
17. Limitation of liability
To the maximum extent permitted by law:
- we are not liable for any indirect, incidental, special or consequential loss, including loss of profit, business, goodwill or data;
- we are not liable for losses caused by incorrect information you provide, unauthorised use of your credentials or devices, acts or omissions of Card Issuers, Payment Partners, banks or Payees, or events beyond our reasonable control; and
- our total liability for any claim relating to the Services is limited to the Convenience Fees you paid us in the three months before the claim arose.
18. Indemnity
You agree to indemnify and hold harmless PayKaasu, its directors, employees, Payment Partners and service providers from any claims, losses, penalties or costs arising from your breach of these Terms or applicable law, any Transaction you place, any dispute with your Payee, or any false information you provide.
19. Suspension and termination
We may suspend, restrict or close your User Account, with or without notice, if:
- you breach these Terms or applicable law;
- we reasonably suspect fraud, misuse, Self-Transfers or other prohibited activity;
- a Payment Partner, Card Issuer or authority asks us to; or
- we stop offering the Services.
You may close your account at any time by writing to info@paykaasu.com. Closing your account does not affect Transactions already in progress or obligations that arose before closure.
20. Force majeure
We are not responsible for any delay or failure caused by events beyond our reasonable control, including natural disasters, epidemics, war, government action, strikes, power or internet failures, or failures of banking, card network or payment systems.
21. Changes to these Terms
We may update these Terms from time to time. We will publish the updated Terms on the Platform with a new "Last updated" date and notify you of significant changes by email or a message on the Platform. Continued use of the Services after changes take effect means you accept the updated Terms.
22. Governing law and disputes
These Terms are governed by the laws of India. Subject to the grievance process below, the courts in India have exclusive jurisdiction over any dispute arising from these Terms or the Services.
23. General
- If any part of these Terms is found invalid, the rest remains in effect.
- Our failure to enforce any right is not a waiver of that right.
- You may not transfer your rights under these Terms. We may assign ours to an affiliate or successor.
- These Terms, together with the Privacy Policy and other policies on the Platform, form the entire agreement between you and PayKaasu about the Services.