MERCHANT AGREEMENT

Merchant Company ("Merchant"), a company incorporated under the Companies Act, 1956 and 2013 or partnership/sole proprietorship having its registered office in India ( here inafter refer as "Merchant" which expression shall unless repugnant to the subject or context shall mean and include its successors and permitted assigns) which has sought to use Paysharp's services of First Part.

AND

PAYSHARP PRIVATE LIMITED ("Paysharp"), a company incorporated under the Companies Act, 1956, having its registered office at 1st floor, #83, 2nd street, Sowmiya Nagar, Perumbakkam Chennai, Tamil Nadu - 600100. (which expression shall unless repugnant to the subject or context shall mean and include its successors and assigns); agree to the terms and conditions set out hereunder of the Other Part.

Acceptance of Terms

Your use of services offered by PAYSHARP PRIVATE LIMITED. (referred to Services in this document) is subject to the terms of a legal agreement between you and Paysharp. This page explains how the agreement is made up, and sets out some of the terms of that agreement (referred as Terms of Service (TOS) in this document). The name 'Paysharp' has been used interchangeable with 'Paysharp.in';.

In order to use the Services, you must first agree to the Terms. You may not use the Services if you do not accept the Terms of Use. You can accept the Terms by:

Clicking to accept or agree or Login or Signup to the Terms, where this option is made available to you by Paysharp in the user interface for any particular Service; or

Actually using the Services. In this case, you understand and agree that Paysharp will treat your use of the Services as acceptance of the Terms from that point onwards.

Services being offered by Paysharp

Paysharp is constantly evolving in order to provide the best possible experience and information for its users. You acknowledge and agree that the form and nature of the Services which Paysharp provides may change from time to time without prior notice to you.

As part of this continuing process, you acknowledge and agree that Paysharp may stop (permanently or temporarily) providing the Services or particular feature to you or to users generally at Paysharp's sole discretion, without prior notice to you. You may stop using the services at any time. You do not need to specifically inform Paysharp when you stop using the Services.

You acknowledge and agree that if Paysharp disables access to your account, you may be prevented from accessing the Services, your account details or any files or other content which is contained in your account.

You acknowledge and agree that while Paysharp may not currently have set a fixed upper limit on the number of transactions you may send or receive through the Services, such fixed upper limits may be set by Paysharp at any time, at Paysharp's discretion.

Proprietary Rights

You acknowledge and agree that Paysharp (or Paysharp's licensors) own all legal right, title and interest in and to the Services, including any intellectual property rights which subsist in the Services (whether those rights happen to be registered or not, and wherever in the world those rights may exist). You further acknowledge that the Services may contain information which is designated confidential by Paysharp and that you shall not disclose such information without Paysharp's prior written consent.

Unless you have agreed otherwise in writing with Paysharp, nothing in the Terms gives you a right to use any of Paysharp's trade names, trade marks, service marks, logos, domain names, and other distinctive brand features.

Prohibited Services

You agree you will not accept payments in connection with the following businesses, business activities or business practices: Paysharp is providing virtual account service so we could not identify where our virtual accounts used, so merchant is the sole responsibilities not use Paysharp's service in prohibited services

  • Engaging in any form of licensed or unlicensed aggregation or factoring,
  • Age restricted products or services,
  • Cryptocurrency,
  • Bidding fee auctions,
  • Collection agencies,
  • Chain letters,
  • Check cashing, wire transfers or money orders,
  • Counterfeit goods (e.g. knock-offs, imitations, bootlegs)
  • currency exchanges or dealers,
  • Firms selling business opportunities, investment opportunities, mortgage consulting or reduction, credit counselling, repair or protection or real estate purchases with no money down,
  • Drug paraphernalia,
  • Fortune tellers,
  • "get rich quick" schemes;
  • Gambling (including but not limited to lotteries, Internet gaming, contests, sweepstakes, or offering of prizes as an inducement to purchase goods or services),
  • Sports forecasting or odds making,
  • Illegal products or services,
  • Money transmitters or money service businesses,
  • Multi-level marketing or pyramid schemes,
  • Online, mail, or telephone order pharmacies or pharmacy referral services,
  • Pseudo pharmaceuticals,
  • Quasi-cash or stored value,
  • Securities brokers,
  • Sexually-oriented or pornographic products or services,
  • Shipping or forwarding brokers,
  • Substances designed to mimic illegal drugs,
  • Telemarketing,
  • Timeshares,
  • Online, mail, or telephone order tobacco or e-cigarette sales,
  • Weapons and munitions
  • Virtual currency or credits that can be monetized, re-sold or converted to physical or digital goods or services or otherwise exit the virtual world,
  • Products/services intended to inflict or promote revenge, harassment, and other forms of abuse, humiliation and intimidation, or

Settlements

On receipt of the Payments in the Nodal Account, we will endeavour to instruct the nodal bank to transmit the Payments payable to the Merchant, after deducting our Fees and GST, from the Nodal Account to the Seller's designated bank account or Merchant's Payout account (maintained in Paysharp to do settlement by merchants), within same day to (two) Business Days (or such other period as may be prescribed by the RBI from time to time) from Completion of Transaction. Payments in the Nodal Account and upon reconciliation of the Payments by the Acquiring Banks, our payment gateway and the nodal bank. The merchant will bear and be responsible and liable for the payment of all relevant taxes in relation to the Payments made under this Agreement.

All risks associated with the Product / Service Delivery will be solely that of the Merchant and not Paysharp. Also, all disputes regarding quality, merchantability, non-Delivery, delay in Delivery or otherwise will be directly between the Merchant and the Merchant's customer without making Paysharp and/or the Payment System Providers, a party to such disputes.

Payout / Fund Transfer

Paysharp is not responsible for any wrong / misuse / fraudulent money transferred from merchant’s Payout account by using their Payout credentials. Merchant should make sure of the safety & security of Payout account’s Username, Passwords and API Credentials.

Technical Issues

In case of any technical issues, please raise a support ticket by emailing support@paysharp.in

Your responsibilities

As a merchant user of the service you and your company/entity shall be held responsible for all activities conducted with your account usage.

As a merchant you will use the services provided for your company/entity purposes and not for any other third party/parties.

Your usage is subject to all applicable local, state, national and foreign laws, treaties and regulations.

You, your company/entity indemnify Paysharp and its owners against any misuse, damage claims of any sort/nature.

You will not interfere with our services or try to access them using a method other than the interface and the instructions that we provide.

You shall not modify or make derivative works based on the Paysharp Service or content.

You shall not access or reverse engineer the service in order to build a competitive product or service, build a product using similar ideas, features, functions or graphics of the service, or copy any ideas, features, functions or graphics of the service.

Limitation of Liability

You understand that Paysharp uses third party vendors, banks and hosting partners to provide the necessary hardware, storage and related technology to run the Services. We do not guarantee that the Services will be bug-free, uninterrupted although efforts would be taken to provide a clean working environment.

Transaction Disputes

Transactions may be disputed at anytime up to 180 (one hundred eighty) days, from the date of Transaction by the end-customer (merchant's consumer).

Disputes should be resolved by the merchant with in 48 hours

On such notification the merchant will conduct an internal review of such matter and will, within 48 hours from receipt of notification, revert to us in writing either:

Requesting us to refund ("Refund Request") the Payment received by the Seller in respect of such Transaction ("Refund Monies") or initiate the refund from Paysharp; or providing us with a statement explaining how the Disputed Transaction is not warranted together with all documentary evidence in support of contesting such Disputed Transaction. In the event

Law-enforcement agencies

If request of information or refund or any merchant's transaction details from law-enforcement agencey, we will provide the same to them, we are not required to inform merchant, if required we temporarily or permanently suspend the account.

Warranty Disclaimer

You agree that your use of Paysharp shall be at your sole risk. All Services provided by Paysharp are available as is, without warranty.

Indian Law and Chennai jurisdiction

The terms of services shall be governed and interpreted by the laws of the India. All disputes, differences or claims with respect to any matter arising out of or relating to the agreement shall be finally settled through the provisions of the arbitration and conciliation act 1996, as amended from time to time, having seat of arbitration and jurisdiction at Chennai, India.