THIS AGREEMENT IS AN ELECTRONIC RECORD IN TERMS OF INFORMATION TECHNOLOGY ACT, 2000 AND RULES THERE UNDER AS APPLICABLE AND THE AMENDED PROVISIONS PERTAINING TO ELECTRONIC RECORDS/DOCUMENTS IN VARIOUS STATUTES AS AMENDED BY THE INFORMATION TECHNOLOGY (REASONABLE SECURITY PRACTICES AND PROCEDURES AND SENSITIVE PERSONAL DATA OR INFORMATION) RULES 2011. THIS IS A COMPUTER-GENERATED ELECTRONIC RECORD AND DOES NOT REQUIRE ANY PHYSICAL OR DIGITAL SIGNATURES.
PLEASE READ THE TERMS AND CONDITIONS OF THIS AGREEMENT CAREFULLY. TERMS AND CONDITIONS MENTIONED IN THE AGREEMENT ARE A BINDING CONTRACT BETWEEN MBNK PHYGITAL FINANCIAL MARKETPLACE PVT. LTD. AND USERS. THE TERMS ARE EFFECTIVE UPON ACCEPTANCE AND SHALL GOVERN THE RELATIONSHIP BETWEEN MBNK AND USERS FOR SERVICES THROUGH PLATFORM HTTPS://WWW.MBNK.COM, AND MOBILE APPLICATION HTTPS://APP.MBNK.COM. IF THESE TERMS CONFLICT WITH ANY OTHER DOCUMENT/RECORDS, THE TERMS AND CONDITIONS OF THIS AGREEMENT SHALL PREVAIL UNLESS AND UNTIL FURTHER CHANGE/MODIFICATIONS NOTIFIED BY MBNK.
Welcome to https://www.mbnk.com (Platform/Mobile Application) that is absolutely owned and operated by “mBnk Phygital Financial Marketplace Pvt Ltd” a digital platform to perform various financial transactions (hereinafter referred to as “mBnk”, which expression shall unless repugnant to the context thereof, include its successors and assigns) a Company registered under the laws of India.
“Applicable Laws” shall mean all statutes, enactments, acts of legislature or parliament, ordinances, rules, bye-laws, regulations, notifications, guidelines, policies, directions, directives and orders of any government, statutory authority, tribunal, board or court in India, including but not limited to guidelines and directions issued by RBI, IRDA, PFRDA, UIDAI and SEBI.
“Customer(s)” shall mean any individual customers who avail the mBnk Services through User’s retail outlets or through the Platform/Mobile Application as may be applicable.
“e-KYC” shall mean know your customer. It is a process for verifying the identity and address of the Users and Customer(s) through online mechanism as per the KYC Guidelines issued by RBI.
“mBnk”; “us”; “we”; “our” shall mean mBnk Phygital Financial Marketplace Pvt. Ltd., a company registered under Companies Act 2013, having its office at 707-B, Bonanza, Sahar Plaza, Andheri Kurla Road, Andheri East, Mumbai 400059.
“Services” shall mean and including but not limited to bill payments collection, Domestic Money Transfer, Bharat Bill Payment Services (BPPS), Aadhaar Enabled Payment Services (AePS), Mobile and DTH Prepaid recharges, Postpaid mobile bill payment collection, utility bills, micro-ATM/mATM, Point of Sale Device (POS) e-coupon/e-voucher recharges, Insurance (Life and Non-Life), mutual funds, loans, travel ticketing and e-activation services and any other products. offered by the Platform from time to time.
“Transaction(s)” shall mean payment transaction by a Customer processed through the Platform.
“Platform” shall mean https://www.mbnk.com and all associated sites linked to https://www.mbnk.com, or the web applications or the mobile application or any similar platform owned, run, operated, powered and managed by us.
“Users” shall mean and include sales agents, super distributors, master distributors, area distributors, API partners, white label clients, distribution or channel partner in any other form or nomenclature and retailers onboarded and with whom mBnk has business arrangements for offering their services through Platform.
“You” or “Your” or “Yourself” refers to the Users or viewers of this Platform.
ELIGIBILITY FOR USING SERVICES -
REGISTRATION AND PASSWORD -
Services listed on the Platform pertaining to banking, financial, insurance and any other type of services are one stop solution for Users as well as Customers.
As a guest, any viewer can navigate and browse through the Platform without registration. However, Users must register to sell, market and distribute the Services to the Customers via Platform. At the time of registration Users shall pay the fees and charges as may be displayed on the Platform from time to time for using the Services.
Any User individual applying in personal capacity or representing/owning an entity can register to the Platform via website link or through sign-up provision on a web-portal. You can also download the mobile application via android play store to register and create an account. You are required to provide personal and business ownership details while registering on the Platform. In case you are an individual or applying in personal capacity, you will require to provide information including but not limited to full name, address, gender, date of birth, passport size photo, mobile number, email ID, proof of address (Aadhar Card/Pan Card). In case you are representing or owning an entity, you will require to provide name of entity, address, business document number, shop/office photograph, PAN number, TAN number, GST number etc. while registering on the Platform. Such prescribed documents of identity and address shall be furnished as a part of eKYC. The information provided by You shall be subject to verification procedure conducted by the Platform in order to check the authenticity, fulfilment of all subscription norms, procedures and documentation. On successful completion of verification, your entity will be valid and live on the Platform. Also, you will obtain unique merchant ID for successful and valid creation of an entity on the Platform.
You agree that at the time of registration, the information provided by You shall always be accurate, correct and complete. You shall be responsible for maintaining the confidentiality of Your account and password and You agree to accept responsibility for all activities that occur under Your account.
In the event you share them with any person or entity other than you or a third party accesses your account details and passwords by virtue of any security lapse or breach within your web/mobile device, you fully understand the risks/costs associated with sharing/hacking of such confidential information and agree not to held Platform responsible /liable for any unethical/illegal transactions or activities carried out by the person in possession of your account details and password. You shall provide any additional information as required by the Platform from time -to- time. We also reserve the right to refuse registration or delete accounts at our sole discretion. You agree to abide by all Applicable Laws and regulations and are solely responsible for all acts or omissions committed by You. You must not set up an account on behalf of another individual or entity unless You are authorized to do so. You shall promptly update the email address listed in connection with Your account to keep it accurate so that we can contact. Platform will not ask you to share your debit card/credit card number, CVV, expiry date, pin, password, OTP, login id etc. with anyone and any act so done would be entirely at your sole responsibility and mBnk absolves itself of any indemnification as a result of this act.
Compliance: You shall be responsible to strictly comply with laws, rules and regulations, policies and guidelines issued by concerned authorities including but not limited to Reserve Bank of India, SEBI, Insurance Regulatory & Development Authority etc. as may be applicable from time to time in force. You shall conform to and shall not deviate in any manner from the plans, processes, specifications and guidelines as supplied/defined by us from time to time.
SERVICE DESCRIPTION -
USE OF PLATFORM -
REGISTRATION, SERVICE FEES AND DEVICE CHARGES -
We reserve the right at any time, to charge you, for the registration or activation of Service(s) offered through the Platform and/or any fees/charges for the use of service(s) or transactions carried out by you on the Platform. We also reserve the right to charge you for any type of hardware device including but not limited to mATM, mPOS, biometric authentication device, class 3 digital signature dongles, Smart PoS machines/PoS terminals, batteries etc procured from mBnk. Such device costs / registration fees / activation fees/security deposit / rentals / usage / transaction fees are subject to any changes in mBnk’s company policy and changes by the service providers / manufacturers / suppliers / aggregators / banks. Any Government charges, duty, or tax payable as a result of the use of the Service of mBnk through Platform shall be your responsibility. You agree and authorize mBnk to charge and/or recover all types of aforesaid charges related to the buying or maintenance of external hardware devices/registration/activation/use of the Services on the Platform from your mobile wallet, wherever applicable.
CUSTOMER SUPPORT -
In case of any dispute, You can raise ticket on the Platform or via inbound call centre/ Email/ WhatsApp Chat which is handled by support and back office team. mBnk’s back office team will accept such complaints, handle query resolution, revert to the complaint originator via available means within reasonable timelines and endeavor to provide best suitable solution.
CHANGE IN TERMS -
REFUND AND EXCHANGE -
In case of any issue, you are required to raise a ticket or email at firstname.lastname@example.org by explaining the issue in detailed. If the issue is identified, the customer service team will provide a refund after deducting requisite amount from the total amount of transaction. You shall provide feedback on the Services in within 3 (Three) days from the date of transaction. In case there is no feedback within period mentioned above, it shall be deemed as duly accepted by you.
You understand, acknowledge and agree that, Platform consists real time transaction system. Therefore, on confirmation of Transaction, the amount will be transferred to the respective service provider and Platform is not the owner of the funds. In such cases, refund is subject to verification, confirmation and receiving amount from such service provider.
In case You provided wrong information and due to which wrong Services are availed, You shall not be eligible to receive refund.
CONTENT SUPPLIED BY YOU -
You represent, warrant, and agree that no Content or Details shared by You with Platform (“Your Content”), violates or infringes upon the rights of any third party, including any patent, copyright, trademark, privacy, publicity, or other personal or proprietary rights, breaches or conflicts with any obligation, such as a confidentiality obligation, or contains libelous, defamatory, or otherwise unlawful material.
You grant us a personal, limited, revocable, non-transferable and non-exclusive right to use the content and details including but not limited to Trademarks, Service Marks, logos etc. submitted by You for providing the listing, You also grant us the right (i) to display your content and details on the Platform (ii) promote or distribute it for the access of other Customers.
You agree that You are solely responsible for your Content made available by You through the Platform including but not limited to any liabilities arising out of any third-party infringement claims.
We reserve the right to screen, refuse to post, remove or edit Your content at any time and for any or no reason in our absolute and sole discretion without prior notice, although we have no duty to do so or to monitor any public forum. If we elect to screen Your Content, there may be a delay in posting of such content in a public forum to allow for a review process. If we have questions about Your Content including, without limitation, the copyright, we may contact You for further information including, for example, to verify that You own the copyright or otherwise obtain necessary permission to post the material.
LINKS TO THIRD PARTY SITES -
This Platform may contain links to other platforms owned and operated by third parties and or government entities. We might provide links to government websites for information or KYC: e.g. UIDAI, UPI who are not related to the Platform (“Linked Platforms”). The Linked Platforms are not under the control of Platform and Platform is not responsible for the content of any Linked Platforms or any hyperlink contained in a Linked Platform and makes no representation or warranty with respect to the content of any such third-party sites.
Platform provides these links to You for convenience only and the inclusion of any link does not imply any endorsement of the Linked Platform by Platform. Your link to any such Linked Platform is entirely at Your own risk. Platform is not a party to any transaction between You and a Linked Platform. Your use of a Linked Platform is subject to the terms and conditions of that site.
The Platform may also contain third party advertisements, if any. The display of such advertisements does not in any way imply an endorsement or recommendation of the relevant advertiser. Platform accepts no responsibility for any interaction between You and the relevant third party and is released from any liability arising out of or in any way connected with such interaction.
PROHIBITED CONDUCT -
You agree not to engage in any of the following activities:
Violating laws and rights:
You shall not (a) use the Platform for any illegal purpose or in violation of any local, state, national, or international laws, (b) violate or encourage others to violate any right of or obligation to a third party, including but not limited to, by infringing, misappropriating, or violating intellectual property, confidentiality, or privacy rights.
You shall not use the Platform, or any information provided through the Platform for the transmission of advertising or promotional materials, including junk mail, spam, chain letters, or any other form of unsolicited or unwelcome solicitation.
You shall not use the Platform in any manner that could disable, overburden, damage, or impair the Platform, or interfere with any other party’s use and enjoyment of the Platform; including by (a) uploading or otherwise disseminating any virus, adware, spyware, worm or other malicious code, or (b) interfering with or disrupting any network, equipment, or server connected to or used to provide any of the Services on the Platform, or violating any regulation, policy, or procedure of any network, equipment, or server.
You shall not share or transmit Content or details that are harmful, offensive, obscene, abusive, invasive of privacy, defamatory, hateful or otherwise discriminatory, false or misleading, or incites an illegal act. You shall not intimidate or harass another through the Platforms; and, You may not post or transmit any personally identifiable information about persons without obtaining such persons express permission to so through the Platform.
Impersonation or unauthorized access:
You shall not impersonate another person or entity or misrepresent Your affiliation with a person or entity when using the Platform. You shall not use or attempt to use another’s account or personal information; and, You shall not attempt to gain unauthorized access to the Platform, or the computer systems or networks connected to the Platform, through hacking password mining or any other means.
SECURITY RULE -
You shall ensure that the security of the Platform is not violated, harmed or compromised in any manner including by (i) accessing data not intended for you or logging into a server or account which you are not authorized to access, (ii) attempting to probe, scan or test the vulnerability of a system or network or to breach security or authentication measures without proper authorization, (iii) attempt to interfere with the service, host or network, including without limitation, via means of submitting a virus to the Platform, overloading, flooding or crashing the Platform, (iv) sending unsolicited electronic emails, including promotions or advertising of products or services.
Violation of any system or network security may result in civil or criminal liability. We shall have the right to investigate such occurrences involving violations and will have the right to involve and cooperate with law enforcement agencies in prosecuting you if you are involved in such violations.
DISCLAIMER OF WARRANTIES -
You expressly acknowledge and agree that use of the Platform and the provision of the Services is entirely at Your own risk and that the Platform and the listing of Services therein are provided on an "as is" basis, without any warranties of any kind. All express and implied warranties, including, without limitation, the warranties of merchantability, fitness for a particular purpose, and non-infringement of proprietary rights are expressly disclaimed to the fullest extent permitted by law. To the fullest extent permitted by law, mBnk, its officers, partners, employees, and agents disclaim all warranties, express or implied, in connection with the Platform, the listing, your provision of Services and Customers use thereof. mBnk makes no warranties or representations that:
We may occasionally for brief periods suspend the operations of the Platform for maintenance, updations or support work as we may deem appropriate. We are not liable for any inconvenience, loss or damages that may be caused to you during such periods of suspension.
We shall not be or responsible for any -
LIMITATION OF LIABILITY -
In no event shall mBnk, its officers, partners, employees, or agents, be liable for direct, indirect, incidental, special, punitive, consequential or exemplary damages (even if mBnk has been advised of the possibility of such damages), resulting from any aspect of Your use of the Platform, including without limitation whether the damages arise from use or misuse of the Platform, from inability to use the Platform, or the interruption, suspension, modification, alteration, or termination of the Platform. Such limitation of liability shall also apply with respect to damages incurred by reason of Services or rendered through or advertised in connection with the Platform or any links on the Platform, as well as by reason of any information, opinions or advice received through or advertised in connection with the Platform or any links on the Platform. These limitations shall apply to the fullest extent permitted by law. You specifically acknowledge and agree that mBnk shall not be liable for user details or content or defamatory, offensive, or illegal conduct of any user or third party and that the risk of harm or damage from the foregoing rests entirely with You.
You agree to indemnify us and hold us harmless from and against all losses, expenses, damages claims and costs including reasonable attorneys' fees, arising out of or relating to –
In case of any dispute, You hereby release the Platform, its officers, it partners, employees, agents and successors from any and all claims, demands and damages (actual and consequential) of every kind or nature, known or unknown, suspected and unsuspected, disclosed and undisclosed, arising out of or in any way related to such disputes.
INTELLECTUAL PROPERTY RIGHTS -
All content on this Platform is either our exclusive property or that of our licensors/service providers. All the software, text, images, graphics, logos, trademarks, video and audio used on this Platform belongs to us or our licensors/ service providers. No material from this Platform shall be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without our prior written permission. Unauthorized use of the content or materials appearing on this Platform may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. The trademark and logo displayed on the Platform is the property of mBnk Phygital Financial Marketplace Pvt. Ltd. Our trademark or logo shall not be used in any manner without our prior written consent. No permission or license (whether express or implied) is hereby granted regarding the use of any such trademarks, get-up, product names, logos or titles, and such use may constitute infringement of the holder's rights. All rights not expressly granted herein are reserved.
USAGE FROM USER JURISDICTION -
If the Platform is used or accessed from anyplace outside India, it is entirely at your own risk. The Platform makes no representation that its contents and other features are available or otherwise suitable for use outside India.
Our right to terminate your access is in addition to all other legal or equitable remedies available to us, which rights are fully and expressly reserved by us. Upon termination of this Agreement for any reason, you shall cease to use or further access any of the Platform’s content or Services and be liable for any unauthorized attempts to do so through any means.
Survival: The disclaimer of warranties, the limitation of liability, indemnity and the jurisdiction and Applicable Law provisions shall survive any termination.
MISCELLANEOUS TERMS -
Force Majeure: Without limiting the foregoing, under no circumstances shall the Platform is held liable for any damage or loss caused to you, due to usage of the Platform or deficiency in performance of Services resulting directly or indirectly from acts of nature, forces, or causes beyond its reasonable control, including, without limitation, internet failures, computer equipment failures including hacking, unauthorized access to computer data and storage device, system failure, virus, attacks, bugs, computer crashes, breach of security and encryption, telecommunication equipment failures, software failures, machinery breakdown, technology breakdown, strikes, government regulations, epidemics, floods, storms, electrical failure, civil disturbances, riots and any other reason beyond reasonable control of the Platform or the Users.
Assignment: We may assign any or all of its rights and obligations under this Agreement to any party without the prior consent of or notice to you.