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Terms and Conditions

General Terms and Conditions

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 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD. 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 SINGLE SIGN ON ID terms and conditions already accepted by You. Each SINGLE SIGN ON ID 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 SINGLE SIGN ON ID 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 MOLS PAY WALLET & CARD 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 "MOLS PAY WALLET & CARD" refers M Y ONE LAKH SHOPPING INDIA PVT LTD (MOLS). (including its successors and assignees), a  company incorporated in India under the Companies Act 2013 and having its registered office at 1 H Mandira apartment, North boag road T.Nagar Chennai Tamilnadu 600017

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 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD branches and on MOLS WALLET & CARD's website/app. MOLS PAY WALLET & CARD 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 MOLS WALLET & CARD. 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.

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. The Customer shall abide by MOLS PAY WALLET & CARD's Terms and Conditions and rules as set out below and the changes thereto in Terms and Conditions from time to time relating to the account as communicated and other terms and conditions made available on MOLS PAY WALLET & CARD's website/mobile banking application ("App") from time to time. Customer agrees that the opening and maintenance of the account and availing of MOLS PAY WALLET & CARD's products/services is subject to rules and regulations introduced or amended from time to time by the Reserve Bank of India ("RBI").

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 MOLS PAY WALLET & CARD 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. Customer agrees that MOLS PAY WALLET & CARD 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 MOLS WALLET & CARD. MOLS PAY WALLET & CARD 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. Customer agrees that MOLS PAY WALLET & CARD 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. MOLS WALLET & CARD, however, shall be responsible for the acts and omissions of such BC and BF.

5. Customer agrees that, under normal circumstances, MOLS PAY WALLET & CARD has the liberty to close the account at any time by giving him 30 calendar days notice.

6. Customer agrees that MOLS PAY WALLET & CARD 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. Any change in the account status or change of address or change in mobile number shall be immediately informed by the Customer to MOLS PAY WALLET & CARD, failing which Customer shall be responsible for any non-receipt of communication/deliverables or the same being delivered at the old address in the records of Bank. Electronic transaction services to the Customer may be restricted in case of invalid mobile number.

8. MOLS PAY WALLET & CARD shall not be liable for any consequences arising out of non-compliance by MOLS PAY WALLET & CARD of Customer's instructions due to inadequacy of funds.

9. MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD.

10. In case of the accounts being opened by MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD.

11. Consent to Electronic Communications and Transactions

11.1 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 MOLS PAY WALLET & CARD sends an electronic communication to Your e-mail address/mobile number as per our records, or when MOLS PAY WALLET & CARD posts an electronic communication on the Platform.

11.2 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD 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.

12. Disclosure: In case any personal information or data is collected by MOLS WALLET & CARD, the same shall be dealt with in accordance with MOLS WALLET & CARD’s privacy policy which is available on MOLS WALLET & CARD’s website.

13. 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.

14. 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 MOLS PAY WALLET & CARD 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 MOLS WALLET & CARD. Customer understand that until the account status is 'Dormant', transactions through Direct Banking Channels like ATM, Net Banking, Phone-banking. Prepaid Card may not be allowed by MOLS WALLET & CARD.

15. 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 MOLS PAY WALLET & CARD may deem fit.

16. Intellectual Property Rights:

a. MOLS PAY WALLET & CARD 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 MOLS WALLET & CARD'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 MOLS WALLET & CARD'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 MOLS WALLET & CARD's App/website are registered or unregistered Trade Marks of MOLS WALLET & CARD/others (as applicable). Nothing in MOLS PAY WALLET & CARD'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 MOLS PAY WALLET & CARD's App/website, without Bank's written permission.

c. MOLS PAY WALLET & CARD, 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 Mols pay 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 "MOLS PAY" as a word, trademark, symbol, device mark or word mark, is strictly prohibited. All rights are expressly reserved by MOLS PAY WALLET & CARD to use the brand of "MOLS PAY" in all its forms and variations.

17. MOLS PAY WALLET & CARD reserves the right to record telephonic conversations with Customers for internal quality control purposes and as an evidence in case of any disputes.

18. Notwithstanding the documentation and account opening form (physical or digital) provided, MOLS PAY WALLET & CARD reserves the right to accept / reject the Customer's application. MOLS WALLET & CARD's decision in this regard would be final.

19. The banking products, may be made available through the internet/mobile banking platform or any similar platform of MOLS PAY WALLET & CARD (platforms through which the Customer can access/monitor the account) and MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD  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

20. Compromise of Account:

a. Customer should contact MOLS PAY WALLET & CARD immediately by raising a request through Contact Us' section in the mobile App or by visiting/writing to our 1H Mandira apartment North boag road T.Nagar Chennai 600017.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 help@molsindia.com or on + 91 44-48535695

b. Customer must report the misuse of his/her account to the police and lodge an First Information Report ("FIR").

c. Customer will not be liable for any misuse of account after he/she has informed MOLS PAY WALLET & CARD of the compromise and has received an acknowledgement from MOLS PAY WALLET & CARD 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.

21. Right to suspend/close/convert/terminate by MOLS WALLET & CARD: MOLS PAY WALLET & CARD reserves the right to suspend/discontinue its products/services to 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, threat to national security, for any other force majeure reasons etc;

iv. If the same is due to technical failure, modification, up gradation, 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 MOLS PAY WALLET & CARD believes, in its reasonable opinion, that cessation/ suspension is necessary.

22. Warranty:

22.1. 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 MOLS PAY WALLET & CARD's products/services or any data/content. While bank may apply such technology as it deems fit to ensure the security of and prevent unauthorized 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.

22.2. Customer acknowledges that he/she has not solely relied on any representation/warranty made by MOLS PAY WALLET & CARD, 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 MOLS PAY WALLET & CARD'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.

23. For our Customer Grievance Redressal Policy, please click https://molsindia.com/contact.php

24. Indemnity: Customer shall indemnify and hold MOLS PAY WALLET & CARD/other Customers harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which MOLS PAY WALLET & CARD/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 MOLS PAY WALLET & CARD 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.

25. Right of Lien/Set off:

a) Customer hereby grants and confirms the existence of the right of lien and set-off with MOLS WALLET & CARD, which MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD or due by MOLS PAY WALLET & CARD to the Customer, towards any of MOLS PAY WALLET & CARD's dues, over drawings/overdrafts and out standings, including any charges/fees/dues payable under these Terms and Conditions.

b) Further, Customer hereby also grants and confirms the existence of the right of lien and set-off with MOLS PAY WALLET & CARD, which MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD or due by MOLS PAY WALLET & CARD 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.

c) MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD and MOLS PAY WALLET & CARD 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 MOLS WALLET & CARD. MOLS PAY WALLET & CARD shall also be entitled to free the account or remit the amount standing to the credit of the account(s)  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.

26. Damages & Limitation of liability:

26.1. Notwithstanding anything to the contrary MOLS WALLET & CARD, 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 MOLS PAY WALLET & CARD'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 willful default or gross negligence on the part of MOLS WALLET & CARD. Further MOLS PAY WALLET & CARD 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 MOLS WALLET & CARD's gross negligence or willful default.

26.2. MOLS PAY WALLET & CARD 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 MOLS WALLET & CARD's by third persons/parties, whether authorized or unauthorized 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 MOLS PAY WALLET & CARD 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.

26.3 Notwithstanding anything to the contrary, in no event, shall MOLS PAY WALLET & CARD 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 Mols wallet & card; 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.

26.4 You acknowledge and agree that MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD, and that the warranty disclaimers and the limitations of liability set forth herein form an essential basis of the bargain between You and MOLS PAY WALLET & CARD.

26.5 MOLS PAY WALLET & CARD 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.

27. Force Majeure:

a. MOLS PAY WALLET & CARD shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD, 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, unauthorized 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.

28. Governing Law and Jurisdiction:

28.1. 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 MOLS PAY WALLET & CARD and/or the use of the services provided by MOLS PAY WALLET & CARD shall be governed by the laws of the Republic of India and no other nation. MOLS PAY WALLET & CARD accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the Republic of India.

28.2. The MOLS PAY 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. MOLS PAY WALLET & CARD 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.

28.3. In case of any complaint relating to the features of any of the products/services of MOLS PAY WALLET & CARD, Customer can approach the Grievance Redressal Cell within MOLS PAY WALLET & CARD 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.

29. Miscellaneous:

29.1 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.

29.2 The failure of MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD. To the maximum extent permitted by law.

30. Assignment

30.1. These Terms and any rights granted hereunder, may not be transferred or assigned by You without MOLS PAY WALLET & CARD's prior written consent which may be withheld in MOLS WALLET & CARD's sole discretion., but these terms and any rights granted hereunder, may be assigned by MOLS PAY WALLET & CARD without any restriction.

30.2. MOLS WALLET & CARD'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.

Wallet

These Terms shall be read in conjunction to the General Terms and Conditions governing the Accounts and Services of MOLS PAY WALLET & CARD(“General Terms”) and the SINGLE SIGN ON ID terms and conditions already accepted by the Customer and shall be applicable to the Wallets issued by MOLS PAY WALLET & CARD unless the General Terms conflict with the terms stated herein below:

A. Semi Closed Wallet Terms and Conditions

A.1. Eligibility 

1.1 The Wallet Services are not available to persons under the age of 10 years or to anyone previously suspended or removed by MOLS PAY WALLET & CARD from availing the Wallet Services or accessing the Platform.

1.2 The Customer hereby represents and warrants that

a. the Customer has the legal and/or right capacity to enter into this arrangement with MOLS PAY WALLET & CARD by virtue of availing of the Wallet Services so offered through the Platform and to abide by all the terms contained herein and/or as informed by MOLS PAY WALLET & CARD from time to time.

b. the Customer has not been previously suspended or removed by MOLS PAY WALLET & Carder disqualified for any other reason, from availing the Wallet Services or using the Platform.

c. the Customer is an Indian Citizen, Indian Resident, and Tax Resident of India and of no other country and agrees to submit any new details to MOLS PAY WALLET & CARD within 30 days of any change in the said information.

1.3 The Customer shall not impersonate any person or entity, or falsely state or otherwise misrepresent his identity, age or affiliation with any person or entity. In the event of any violation of these Terms, MOLS PAY WALLET & CARD reserves the right to suspend or permanently prevent the Customer from availing the Wallet Services or using the Platform.

I. DEFINITIONS:

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

"Minimum KYC Wallet" means the Wallet of the Customer issued by accepting minimum Customer details being Customer name, e-mail address, mobile number verified with One Time Pin (OTP) and self-declaration of name and unique identification number of any of the ‘officially valid document’ defined under Rule 2(d) of the PML Rules 2005, as amended from time to time and as more specifically described at clause nos. A.2.3 (b) and (c) hereto.

"Charge(s)" or "Service Charge" shall mean the charges which MOLS PAY WALLET & CARD may levy upon the Customer in consideration for subscribing to the Wallet.

"Customer" shall mean a person or an individual or any entity who have registered with the Platform for availing and using the Wallet and who has accepted these Terms, including the SINGLE SIGN ON ID terms by virtue of owning, operating or having access to an internet compatible device that supports both the Wallet and the Platform.

“CSD” shall mean Customer Service Desk of MOLS PAY WALLET & CARD put in place to handle customer queries and/or complaints.

"Enrollment Form" shall mean the Wallet Enrollment Form of MOLS PAY WALLET & CARD that is required to be completely filled in with relevant details as per the instructions contained therein and submitted by the Customer to MOLS PAY WALLET & CARD at the time of registration for availing of and/or for the continued usage of the Wallet.

“Full KYC Wallet” means the Wallet of the Customer issued by MOLS PAY WALLET & CARD which is fully KYC compliant and as more specifically described at clause nos. A.2.3 (d) hereto.

"KYC" stands for Know the Customer and refers to the various norms, rules, laws and statutes issued by RBI from time to time under which MOLS PAY WALLET & CARD is required to procure personal identification details from the Customer before any services can be delivered and/or the Wallet shall be opened by MOLS PAY WALLET & CARD issued to the Customer. Know Customer (KYC) documents may be required by MOLS PAY WALLET & CARD from the Customer at the time of registration and/or on a later date and/or from time to time, for availing and/or continuation of the Wallet.

"Merchant Establishment" shall mean and include physical Merchants, remote Merchants and any other outlet that has been authorized by MOLS PAY WALLET & CARD to accept payments using the Wallet.

"Password" means the secret password used to secure the Wallet and/or the Mobile App and/or the Platform, without knowledge of which the Customer Wallet will not be operable (i.e. the password for the Customer Account.

“PPI guidelines” shall mean the Master Direction issued by RBI on Issuance and Operation of Prepaid Payment Instruments dated 11th October 2017 and/or as amended and supplemented by the RBI from time to time.

"Wallet" means semi closed prepaid payment instruments issued as either minimum KYC or Full KYC wallets by MOLS WALLET & CARD, as the case may be, in accordance with the PPI guidelines to Customers from time to time.

"Person-to-bank transfer" refers to a facility to transfer funds from the Customer’s Wallet to any bank account.

"Person-to-Person Transfer" refers to a facility to transfer funds from the Customer’s Wallet to any other Wallet issued by MOLS PAY WALLET & CARD or to any savings or current bank account.

"RBI" means the Reserve Bank of India.

"Person-to-Merchant Transfer" refers to a facility to transfer funds from the Customer’s Wallet to any merchant locations/establishments having necessary arrangements in place to accept the Wallet payments towards purchase of goods and services.

“SINGLE SIGN ON ID terms and conditions” means the terms and conditions as available on the Platform.

"Transaction" means Person-to-person transfer or purchase of goods or services at Merchant Establishments or transfer of money to MOLS PAY Wallet or Person-to-bank transfer.

“Terms” shall mean the terms and conditions in relation to the Wallet set out herein, the SINGLE SIGN ON ID terms and conditions, and other service-specific terms and conditions in relation to Services or Platform.

A.2.1. Documentation

a. The Customer understands and agrees that the collection, verification, audit and maintenance of the correct and updated Customer information is a continuous process at MOLS PAY WALLET & CARD’s end and MOLS PAY WALLET & CARD reserves the right at any time, to take steps necessary to ensure compliance with all relevant and applicable KYC requirements. MOLS PAY WALLET & CARD reserves the right to discontinue the Wallet services or reject applications for issuance of the Wallet at any time if there are discrepancies in the information and/or Enrollment Form and/or documentation provided by the Customer.

b. The Customer agrees that any information by the Customer provided to MOLS PAY WALLET & CARD with the intention of availing of and/or using the Wallet services shall vest with MOLS WALLET & CARD, and may be used by MOLS WALLET & CARD, for any purpose that is in addition to the purposes stipulated under the General Terms and/or are not inconsistent with any applicable law or regulation, at its sole discretion.

A.2.2. General Conditions of the Wallet

a. There shall be no interest payable by MOLS PAY WALLET & CARD on the balances lying in the Wallet to the Customer.

b. Subject to the prevailing regulations, the Customer can avail of the following:

i. Minimum KYC Wallet

ii. Full KYC Wallet

c. Minimum KYC Wallet:

The Customer hereby agrees and confirms to abide by and fulfill the following terms and conditions that shall apply to the maintenance and operations of such Minimum KYC Wallets:

i. The Minimum KYC Wallet shall be reloadable in nature and issued only in electronic form.

ii. The amount loaded in such Minimum KYC Wallet during any month shall not exceed Rs.10,000/- and the total amount loaded during the financial year shall not exceed Rs.1,00,000/-.

iii. The amount outstanding at any point of time in such Minimum KYC Wallet shall not exceed Rs.10,000/.

iv. The total amount debited from such Minimum KYC Wallet during any given month shall not exceed Rs. 10,000/-.

v. The Minimum KYC Wallet shall be used only for Person-to-Merchant transfers.

vi. Any transfer of monies from the Minimum KYC Wallet to bank accounts and other wallets of MOLS PAY WALLET & CARD and/or any other PPI issuer is not permitted.

vii. The Customer shall complete the full KYC process in respect of such Minimum KYC Wallets within one year of the date of issuance of these wallets failing which no further credit or loading shall be allowed by MOLS PAY WALLET & CARD in such Minimum KYC wallets. The Customer shall thereafter be allowed only to use the available balance in the Minimum KYC Wallet.

viii. The Customer can at their option close the Minimum KYC Wallet at any time by making a request to MOLS PAY WALLET & CARD in this regard by visiting https://www.molsindia.com close-account and the outstanding balance at the time of closure shall be transferred to the Customer’s wallet accountant/or to ‘back to source’ (payment source from where the Minimum KYC Wallet was loaded) subject to the completion of the necessary KYC requirements. The Customer hereby agrees and understands that MOLS PAY WALLET & CARD shall be entitled to call for the relevant information/documents pertaining to the Customer’s wallet accountant/or ‘back to payment source’ where funds have to be transferred post closure of the Minimum KYC Wallet.

d. Full KYC Wallet:

i. The Customer shall at the time of availing of the MOLS Wallet Service either opt for the issuance of the Minimum KYC Wallet and thereafter upgrade to the Full KYC Wallet or at the time of registration or availing of the Wallet services itself, opt for a Full KYC Wallet.

ii. The Customer’s Minimum KYC Wallet shall be upgraded to a Full KYC Wallet after the Customer submits the relevant Customer KYC documents and the same are verified and approved by MOLS PAY WALLET & CARD.

iii. The Full KYC Wallet of the Customer shall ordinarily be activated within twenty one (21) working days of receipt and verification of the relevant KYC documentation.

iv. The Customer hereby agrees and confirms to abide by and fulfill the following terms and conditions that shall apply to the maintenance and operations of such Full KYC Wallets:

a. Full KYC Wallets shall be issued only to the Customers up to Rs.1, 00,000/- post being fully KYC compliant.

b. Full KYC Wallets shall be reloadable in nature and issued only in electronic form.

c. The amount outstanding in such Full KYC Wallets shall not exceed Rs.1, 00,000/- at any point of time.

d. The Customer can by visiting the Platform register certain persons/individuals as ‘beneficiaries’ by providing their wallet account details, details of Wallets issued by MOLS PAY WALLET & CARD etc, for the purposes of effecting Person-to Person and Person to bank transfers to such beneficiaries.

e. The Customer shall register the beneficiaries at the frequency and/or post the completion of the cooling off periods as communicated by MOLS PAY WALLET & CARD from time to time.

f. The Customer shall be entitled to set their own defined beneficiary limits.

g. In case of such pre-registered beneficiaries, the funds transfer limit shall not exceed Rs.1,00,000/- per month per beneficiary and the funds transfer limits for all other cases shall be restricted to Rs.10,000/- per month.

h. The Customer can at their option close the Full KYC Wallet at any time by making a request to MOLS PAY WALLET & CARD by visiting www.molsindia.com and the outstanding balance at the time of closure shall be transferred to the Customer’s wallet account and/or to ‘back to source’ (payment source from where the Full KYC Wallet was loaded). The Customer hereby agrees and understands that MOLS PAY WALLET & CARD shall be entitled to call for the relevant information/documents pertaining to the Customer’s wallet account and/or ‘back to payment source’ where funds have to be transferred post closure of the Full KYC Wallet.

e. Miscellaneous:

i. The Customer may note that withdrawing money from the Wallet is not allowed. Any outstanding credit in the Wallet must be utilized only to make payments for bona fide Transactions at Merchant Establishments and Person-to-person transfers or Person-to-bank transfers.

ii. Wallets are available only to resident Indians who have attained the age of 10 years and are competent to contract with a parental sponsor/guardian and in accordance with applicable law

iii. Wallets are not transferable.

v. MOLS PAY WALLET & CARD reserves the right to suspend/discontinue the Wallet services to the Customer at any time, for any cause, including, but not limited, to the following-

vi. For any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of these Terms;

vii. For any suspected discrepancy in the particular(s), documentation or Enrollment Form provided by the Customer;

viii. To combat potential fraud, sabotage, willful destruction, threat to national security or for any other force majeure event;

ix. If the same is due to technical failure, modification, up gradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons;

x. If the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;

xi. If the mobile connection with which the Customer Wallet is related ceases to be operational or in the Customer’s possession or control;

xii If MOLS PAY WALLET & CARD believes, in its reasonable opinion, that cessation/suspension is necessary for any other legitimate purpose.

xiii. No interest will be payable by MOLS PAY WALLET & CARD on the available balance reflected on the Wallet;

xiv. The Customer are permitted to maintain and operate only one Wallet. Any suspected non-conformity with this requirement shall constitute grounds for the suspension/discontinuation by MOLS PAY WALLET & CARD of any or all Wallets associated with the Customer on the Platform. Any operation of or continued availability of any facility respect to the Wallets from time to time shall be subject to any requirements under applicable laws, and any new regulations or directions from any regulatory authorities in India.

xv. The Customer Wallets with no financial transaction for a consecutive period of one year shall be made inactive by MOLS WALLET & CARD.

A.2.3. Wallet Charges & Validity

a. The Customer shall pay the Service Charges prescribed by MOLS PAY WALLET & CARD in the form and manner prescribed for such payment. MOLS PAY WALLET & CARD may at its discretion, change, amend, increase, or reduce the Service Charges with prior intimation.

b. Any value in the Customer Wallet that is utilized towards making payments for any Transaction shall be automatically debited from the Customer Wallet. MOLS WALLET & CARD's responsibility is limited to the debiting of the Customer MOLS PAY Wallet and the subsequent payment to any Merchant Establishment that the Customer might transact with. MOLS PAY WALLET & CARD does not endorse, promote, champion or warrant any goods and/or services that might be bought/availed or proposed to be bought/availed using the Wallet.

c. MOLS PAY WALLET & CARD reserves the right to levy charges or charge a commission upon any amounts loaded upon the Customer Wallet or any amounts spent/utilized by the Customer using Wallet. The current charges (which may be changed in future at our sole discretion and after giving due notice) can be viewed by you at http://www.molsindia.com/ ratesCharges.html

d. MOLS PAY WALLET & CARD reserves the right to appropriate and/or set off any balance in the Customer Wallet in order to recover funds for transactions processed as per the Customer request.

e. Wallet Expiry and Balance Forfeiture

  • At present, MOLS PAY WALLET & CARD does not expire the Wallet or forfeits the balance amount in MOLS Wallet.

  • MOLS PAY WALLET & CARD reserves the right to introduce a policy as per the applicable RBI guidelines for Wallet expiration and balance forfeiture in future. The terms and conditions related to any such policy that MOLS PAY WALLET & CARD may introduce in the future will come into effect from the date that will be clearly indicated under these Terms.

f. Passbook

  i. The Customer's passbook would reflect all the transactions performed through the Wallet and SMS alerts would be sent to the Customer for every transaction done in the Wallet.

  ii. Passbook showing the details of the transactions for the last six months in the Wallet will be available to the Customer on the Mobile App.

A.2.4. Customer Obligations

a. Wallet availability is subject to the maintenance of an active mobile phone or internet connection with an associated telecom provider. Wallet availability is subject to the maintenance of a mobile phone handset and other application on which Services/Platform can run and the Customer is solely responsible for all liability arising from the unavailability of the Services/Platform due to a deficient or defective mobile handset or the internet service provider not being able to support any Wallet channel or application.

b. The Customer must ensure the availability of sufficient funds in the Customer Wallet before executing any Transaction from the Customer Wallet.

c. The Customer shall be solely responsible for the confidentiality, safety and security of the Password. The Customer shall be the sole owner of the Password and shall be responsible for the consequences arising out of disclosure of the Password and/or the unauthorized use of Wallet. In case the Password is lost or misplaced, the Customer shall promptly inform MOLS PAY WALLET & CARD by calling at the Customer care numbers which is mentioned behind the card, where after the existing Password will be barred and a new Password will be issued to the Customer after necessary validation. In case the mobile phone/SIM card/mobile number associated with the Customer Wallet is lost/stolen/misplaced/no longer in the Customer control, The Customer shall promptly inform MOLS WALLET & CARD. MOLS PAY WALLET & CARD will upon receipt of such information block the relevant account.

d. The Customer shall only use Wallet for any Transactions with the specific Merchant Establishment for the products/services available therein.

e. The Customer shall intimate MOLS PAY WALLET & CARD about change in the Customer address, if any, in writing along with such proof of address as per the KYC documents.

f. The Customer shall not use Wallet for any purpose that might be construed as contrary or repugnant to any applicable law, regulation, guideline, judicial dicta, MOLS PAY WALLET & CARD policy or public policy or for any purpose that might negatively prejudice the goodwill of MOLS PAY WALLET & CARD or violate the General Terms including the Wallet Terms set out herein.

g. The Customer acknowledges and understands that the Wallet is linked to the Customer’s mobile phone number and the Customer shall be solely responsible for any liability arising out of the loss/theft/misuse of the mobile phone number or deactivation of mobile connection by the concerned telecom service provider.

h. Information submitted by the Customer for availing Wallet and/or information submitted while using Wallet may be shared by MOLS PAY WALLET & CARD with any affiliate of MOLS PAY WALLET & CARD or any third party, inter alia, to facilitate the provision of the Wallet or for the purposes specified in the General Terms and the Wallet Terms, including in the SINGLE SIGN ON ID terms and conditions.

i. The Customer shall ensure that the Wallet services are not used for Transactions in foreign currency. The Wallet is issued in India and shall be valid only in India and shall be used at Merchant Establishments only in India.

j. Without limiting the foregoing, the Customer agrees that the Customer will not use the Platform to undertake any of the following actions or to display, upload, modify, publish, distribute, disseminate, transmit, update or share any information that:

• is grossly harmful, harassing, blasphemous defamatory, obscene, pornographic, pedophilic, libelous, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatsoever;

• infringes any patent, trademark, copyright or other proprietary rights;

• contains viruses, corrupted files, or any other similar software or programs that is designed to interrupt, destroy or that may limit the functionality of any computer source or that may damage or adversely affect the operation of another person's computer, its web-sites, any software or hardware, or telecommunications equipment;

• Advertises or offers to sell any goods or services for any commercial purpose;

• is in the nature of promotional services, products, surveys, contests, pyramid schemes, spam, unsolicited advertising or promotional materials, or chain letters;

• falsifies or deletes any author attributions, legal or other proper notices or proprietary designations or labels of the origin or the source of software or other material;

• violates any law for the time being in force;

• belongs to another person to which the Customer do not have any right to;

• interferes with or disrupts the Platform or other MOLS PAY WALLET & CARD websites, servers, or networks;

• impersonate any other person;

• harms minors in any way;

• forges headers or manipulates identifiers or other data in order to disguise the origin of any content transmitted through its websites or to manipulate the Customer presence on its websites;

• engages in any illegal activities;

• threatens the unity, integrity, defense, security or sovereignty of India, friendly relations with foreign states, or public order, or causes incitement to the commission of any cognizable offence, or prevents the investigation of any offence or insults any other nation.

A.2.5. Additional T&Cs

a. When the Customer acquires goods, software or any other services from a Merchant Establishment through any of MOLS WALLET & CARD's Services, including the Wallet service, the Customer understands and agrees that MOLS PAY WALLET & CARD is not a party to the contract between the Customer and the Merchant Establishment. MOLS PAY WALLET & CARD does not endorse any advertiser or Merchant linked to its website. Furthermore, MOLS PAY WALLET & CARD is under no obligation to monitor the Merchant Establishment's service/products used by the Customer. The Merchant Establishment alone will be responsible for all obligations under the contract including (without limitation) warranties or guarantees. Any dispute with or complaint against any Merchant Establishment must be directly resolved by the Customer with the Merchant Establishment. It is clarified that MOLS PAY WALLET & CARD shall not be responsible or liable for any deficiency in goods and/or services purchased using Wallet. This exclusion of liability shall apply even for goods and/or services made available by MOLS PAY WALLET & CARD under promotional schemes. The Customers are instructed to satisfy themselves regarding the quality, quantity and fitness of any good and/or service before purchasing the same.

b. Any payment made erroneously by the Customer to any Merchant Establishment or any erroneous transfer to any person shall not be refunded to the Customer by MOLS PAY WALLET & CARD in any circumstances.

c. Any web-link on the Platform to a third party site is not an endorsement of that web-link. By using or browsing any such other web-link, the Customer shall be subject to the terms and conditions in relation to that web-link.

d. In the event of any Dispute (defined below), MOLS PAY WALLET & CARD records shall be binding as the conclusive evidence of the Transactions carried out through use of the Wallet.

e. MOLS PAY WALLET & CARD shall send all Customer communications by SMS and/or e-mail and such SMS shall be deemed to have been received by the Customer after they have been submitted for delivery to the mobile phone operator. MOLS PAY WALLET & CARD shall not be liable for any errors or issues in the communication address/number as provided by the Customer. The same shall be the Customer’s sole responsibility and liability.

f. The Customer agree to receive all commercial messages including transactional messages from MOLS PAY WALLET & CARD.

g. The parties are independent contractors and nothing in these Wallet Terms shall be deemed to create an agency or employment relationship, a franchisor-franchisee relationship, joint venture or partnership.

A.2.6. Eligibility and Registration to Use the Services The Customer must be 10 years old to use molsindia Platform with a parental sponsor/guardian and in accordance with applicable law. The Customer must be an authorized representative with the authority to bind that company or entity to the Wallet Terms. The Customer agrees to provide accurate, current and complete information about The Customer or The Customer’s company as prompted by MOLS PAY WALLET & CARD’s registration form (including the Customer’s e-mail address and mobile number) and maintain and update the Customer information (including the Customer’s e-mail address and mobile number) to keep it accurate, current and complete. MOLS PAY WALLET & CARD reserves the right to terminate any account or the Customer’s use of the Platform/Services, including the Wallet service, if any information provided by the Customer is false, fictitious, inaccurate, not current or incomplete, with
or without notice to the Customer.

The Customer may access the Wallet using the SINGLE SIGN ON ID. The Customer must keep the Password to the Wallet, confidential and not share it with any other person. The Customer are responsible for all activity on the Customer Wallet, whether or not The Customer authorized it. However, if The Customer become aware of any unauthorized use of the Customer Wallet or the Customer user id and Password, please contact MOLS PAY WALLET & CARD immediately.

 

 

B. FOOD WALLET

These Terms shall be read in conjunction to the General Terms and Conditions governing the Accounts and Services of MOLS PAY WALLET & CARD(“General Terms”) and Wallet Terms and shall be applicable to the Food Wallet unless the General Terms, Wallet Terms conflict with the terms stated herein below:

Food Wallet is issued on the following terms for the employees of the entity (hereinafter "Entity") which has sought such facility for its employees and has accordingly entered into a written agreement with MOLS WALLET & CARD. Following are the terms on which the Food Wallet is issued.

B.1. General Terms and Conditions to Be Complied By Food Wallet Holder

a. Food wallet shall be issued to employees of the Entity who avails food and non-alcoholic beverage facility by their employers as a part of their employment compensation.

b. The employee of the Entity who wishes to avail Food wallet shall be required to have a standard wallet within which a sub wallet (i.e. Food wallet) shall be created. Such wallets (main wallet and the Food wallet) shall have pre-defined monetary limits and shall be re-loadable. c. Portion of the Food Wallet Holder's salary received as food allowance would be transferred by the employer to the respective Food Wallet Holder's Food wallet.

d. Wallet Holder may also get access to the Food Wallet which will be a part of the Wallet and the maximum monetary limit as specified in RBI guidelines and amendment from time to time shall apply to the combined limit of the Wallet and Food Wallet, in the event the MOLS PAY Wallet also has a Food Wallet Section which shall be applicable to Wallet Holder.

e. If Entity, as per its discretion, charge any charges from Food Wallet Holder for providing the service of Food wallet, MOLS PAY WALLET & CARD shall not be responsible for any such charges.

f. Any charge levied by the Establishment on the purchase made by the Food Wallet Holder using the Food Wallet shall be settled by such Food Wallet Holder with the Establishment directly and MOLS PAY WALLET & CARD shall not be responsible for the same.

g. Any transfers from Entity's Account to Food Wallet Holder's Wallet shall be responsibility of Entity. Also, any applicable taxes on said transfers and deduction of taxes at source shall be responsibility of Food Wallet Holder and Entity respectively. MOLS PAY WALLET & CARD shall be only responsible for transferring amounts paid by Entity to Entity's Account.

h. All spends by Wallet Holder from the Food Wallet should be in compliance with the Income Tax Act. Wallet Holder agree that Food Wallet shall be used by Food Wallet Holder solely for the purpose of purchase of food & non-alcoholic beverages from relevant Establishments who have agreed to redeem the amount from the Food Wallet section and have an arrangement with MOLS PAY WALLET & CARD in this regard.

i. Food Wallet Holder agree and confirm that No P2B (Personal to Bank transfer), P2P (Peer to Peer) and no cash out are permitted from Food Wallet balances.

j. Food Wallet Holder shall, prior to availing the Food Wallet services from MOLS WALLET & CARD, obtain appropriate advice and shall familiarize himself with the associated risks and all the terms and conditions pertaining to the Food Wallet Service. Food Wallet Holder will further verify all facts and statutory provisions and seek appropriate professional advice including the relevant tax implications.

k. Food Wallet shall not be assignable or transferable by the Entity or the Food Wallet Holder.

l. The Food Wallet Holder agrees that he/she will not use the MOLS PAY WALLET  Food Wallet for payment of any illegal/unlawful purchase/purposes.

m. In case of termination/cancellation of Food Wallet Services, the existing balance in the wallet can be used by Food Wallet Holder.

n. The Food Wallet Holder shall agree to submit all the documents with the MOLS PAY WALLET & CARD as directed from time to time, to meet KYC norms in compliance with the relevant extant guidelines of the Reserve Bank of India.

o. The Food Wallet Holder and Entity shall forthwith notify MOLS PAY WALLET & CARD of any change in his/her address for communication as submitted with MOLS PAY WALLET & CARD at the time of activating Food Wallet. The responsibility shall be solely of the Food Wallet Holder to ensure that MOLS PAY WALLET & CARD has been informed of the correct address for communication.

p. The Food Wallet Holder shall act in good faith at all times in relation to all dealings with the Food Wallet and MOLS WALLET & CARD.

q. The Food Wallet Holder shall be fully responsible for wrongful use of the Food Wallet.

r. The Food Wallet Holder shall indemnify MOLS PAY WALLET & CARD to make good any loss, damage, interest, or any other financial charge that MOLS PAY WALLET & CARD may incur and/or suffer, whether directly or indirectly, as a result of Food Wallet Holder is committing violation of these Terms and Conditions.

s. The Food Wallet Holder will indemnify and hold MOLS PAY WALLET & CARD harmless for any / all actions, proceedings, claims, liabilities (including statutory liability), penalties, demands and costs, awards, damages and losses arising out of wrongful use or cancellation (wrongful or otherwise) of a Food Wallet Service.

B.2. Term and Termination:

a. Food Wallet becomes effective on the Effective Date and shall be valid unless terminated by either Party as per the provisions of this Agreement.

b. Termination and Consequences of Termination

i. In the event of any breach of this Agreement by either Party, the other Party may terminate Food Wallet, by giving the other Party seven (7) days' prior written notice of termination thereof, only after providing a 15 day period for cure of the breach.

ii. Either Party may terminate Food Wallet forthwith in the event of fraud, breach of applicable laws by the other Party or the other Party passes a resolution for a voluntary liquidation, or is adjudged insolvent etc.

iii. Either Party can terminate Food Wallet by tendering a 30 day's written notice to other Party without assigning any reason thereof.

C. MOLS INDIA CHIP & MAGNETIC STRIPE WALLET CARDS

These Terms apply to the issuance and usage of the  MOLS INDIA Cards and shall be in addition to and not in derogation of the general terms and conditions of MOLS PAY WALLET & CARD 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:

"MOLS INDIA CARD" or "Card" shall mean the MOLS INDIA Wallet Card issued by FEDERAL BANK & CARD in physical format which is linked to the MOLS 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 MOLS INDIA Card linked to his MOLS PAY Wallet has been issued by FEDERAL BANK" Merchant” means the merchant and/or the commercial establishment which has a specific agreement with MOLS PAY WALLET & CARD or an agreement through a payment aggregator/payment gateway, to accept the  Card for accessing the funds in the wallet to enable payments by the Cardholder through the point of sale (POS) electronic terminals or 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 MOLS PAY 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 MOLS PAY WALLET & CARD to spend on the Card. The spend limit per transaction in no case shall exceed the sum of Rs.50,000/ and/or any other limit so stipulated by MOLS PAY WALLET & CARD from time to time.

2. Issuance of Card:

2.1 The Card shall be issued by MOLS PAY WALLET & CARD in the name of Cardholder to transact at the Merchants and provides access to the Master card

2.2 The Card shall be issued by FEDERAL BANK to the Cardholder in physical format (only upon the specific request of the Cardholder).

2.3 MOLS PAY WALLET & CARD 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 MOLS PAY WALLET & CARD without assigning any reasons whatsoever.

2.4 The MOLS INDIA Card can be applied for by the Cardholder through the MOLS PAY App/Website or through MOLS PAY designated agents on the payment of requisite fee/ charges and necessarily needs to be linked to the Cardholder’s MOLS PAY Wallet.

2.5 The Card issued by FEDERAL BANK shall be issued on a non-personalized basis containing the Card Number therein.

2.6 The Cardholder, prior to applying for the Card from MOLS WALLET & CARD, 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:

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 MOLS PAY Wallet, the same would be accessible when the Cardholder utilizes the Card.

3.2 The Cardholder can use the Card as per the Transaction Limit assigned by MOLS PAY WALLET & CARD from time to time. However MOLS PAY WALLET & CARD shall not be responsible for any other limits or transactional caps placed by the Merchant.

3.3 Payment can be made through MOLS INDIA Card only where the Merchants have the requisite card acceptance infrastructure such as the POS Machine terminals issued by any bank or Master card network, the Merchant or any other devices. MOLS PAY WALLET & CARD shall not be responsible for any inability/ failure of payment at the terminal.

3.4 The Cardholder agrees that he shall not use the Card for payment of any illegal/unlawful purchase/purposes.

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 MOLS WALLET & CARD.

3.6 The Card shall be valid for transactions, as permitted by MOLS PAY WALLET & CARD from time to time in India, at the Merchants accepting the Cards. The Cardholder has been informed and put to knowledge by MOLS PAY WALLET & CARD that in order to facilitate the transactions, his Card details (in masked/encrypted form) shall be collected and shared by MOLS PAY WALLET & CARD with M.Y. ONE LAKH SHOPPING INDIA PVT LTD The Cardholder expressly consents to MOLS PAY WALLET & CARD sharing his Card details with M Y ONE LAKH SHOPPING INDIA PVT LTD for the said purposes and shall not hold MOLS PAY WALLET & CARD liable in this regard.

3.7 MOLS PAY WALLET & CARD 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.

3.8 The Cardholder's MOLS PAY 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 MOLS PAY Wallet to meet any such transactions.

3.9 MOLS PAY WALLET & CARD 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:

4.1 MOLS PAY WALLET & CARD 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.

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 MOLS PAY WALLET & CARD shall debit such charges, duty or tax against the MOLS PAY Wallet.

5. Transaction Details:

5.1 Statement

a. The Cardholder's MOLS PAY passbook would reflect all the transactions performed through the Card.

b. SMS alerts would be sent to the Cardholder for every transaction done in the MOLS PAY Wallet in accordance with the prevailing laws/regulations.

 

 

c. Transaction Disputes If there is a dispute regarding transactions listed in the Statement, the Customer must inform MOLS PAY WALLET & CARD within 90 days of the transaction reflecting in the passbook. MOLS PAY WALLET & CARD will conduct investigation and revert on such transactions.

6. Misuse / Compromise of Card Details

6.1 The Cardholder should block his Card temporarily and immediately through the MOLS PAY 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 MOLS PAY WALLET  on account of usage of the Card. The Cardholder may also contact MOLS PAY WALLET & CARD for reporting Card loss by visiting its Branch (No 1H Mandira Apartment North boag road T.Nagar Chennai 600017) and/or over the telephone at the numbers of MOLS WALLET & CARD's 24-Hour toll-free help lines or Customer Care Service Centre listed under the section- “Contact Us” of MOLS WALLET & CARD’s website.

6.2 The Cardholder must also report the misuse or loss of his Card to the police and lodge a First Information Report ("FIR").

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 MOLS PAY WALLET  on account of usage of the Card and MOLS PAY WALLET & CARD shall not be responsible in any manner whatsoever. The Cardholder shall indemnify MOLS PAY WALLET & CARD 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 MOLS PAY WALLET on account of usage of the Card. This clause shall survive the cessation of the relationship of the Customer with MOLS PAY WALLET & CARD and/or closure of the MOLS PAY WALLET.

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 MOLS PAY 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. MOLS PAY WALLET & CARD 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.

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

7.1 MOLS PAY WALLET & CARD shall be entitled to terminate the Card (and close the MOLS PAY 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.

7.2 If the Cardholder decides to close his MOLS PAY WALLET with MOLS PAY WALLET & CARD or upon MOLS WALLET & CARD’s receipt of information of demise of the Cardholder, the Card(s) issued with his MOLS PAY WALLET would automatically stand cancelled.

MASTER CARD

These Terms apply to the issuance and usage of the Prepaid Master Card and ATM card and shall be in addition to and not in derogation of the general terms and conditions of MOLS WALLET & CARD

I. Definitions

I.1. Unless indicated otherwise, the capitalized terms listed below shall have the following meanings:

“Account” shall mean all present and future account(s) of the Customer (held in any form whatsoever including but not limited to the services and any kind of banking relationship), operated either singly or jointly at Mols India.

“Account Holder” shall mean the Account holder above the age of 18 years.

"ATM" means any Automated Teller Machine in India, whether of MOLS PAY WALLET & CARD or a shared network, at which the Cardholder can use his Card to access his funds in his Account.

"Card" shall mean the Debit and ATM card in electronic or physical format issued by FEDERAL BANK in association with MASTER CARD.

“Cardholder” shall mean the Account Holder to whom the Card linked to the Account has been issued by MOLS WALLET & CARD.

"PIN" means the Personal Identification Number allocated in relation to the Card to the Cardholder by MOLS PAY WALLET & CARD or as chosen by the Cardholder and/or MOLS PAY WALLET & CARD from time to time.

"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 Account linked with the Card to make purchases at various merchant establishments.

1. Issuance of Card

1.1 The Card shall be issued by FEDERAL BANK  in the name of Cardholder to transact online and provides access to the Account.

1.2 The Card shall be issued by FEDERAL BANK to the Cardholder in electronic format upon the opening of the Account or in physical format (only upon the specific request of the Card Holder).

1.5 MOLS PAY WALLET & CARD may at its sole discretion with FEDERAL BANK to issue a Card in physical format to the Cardholder and the application of the Account Holder in this regard may be rejected by MOLS PAY WALLET & CARD without assigning any reasons whatsoever.

1.6 The Card issued by FEDERAL BANK,MOLS PAY WALLET & CARD shall contain information such as the name of the Cardholder, Card Number, CVV, Expiry Date, QR Code therein.

2. Fees and Charges

2.1 issuance or transaction-based fee or charges would applicable in MOLS PAY WALLET & CARD for the Card issued in electronic format. However, MOLS PAY WALLET & CARD reserves the right at any time to charge the Cardholder for the issue or reissue of a Card in electronic format and/or any fees/charges for the transactions carried out by the Cardholder on the Card after due intimation to the Cardholder.

2.2 The Customer can view the schedule of fees and/or charges applicable for the Cards in physical format at http://www.molsindia.com/ratesCharges.html.

2.3 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 MOLS PAY WALLET & CARD shall debit such charges, duty or tax against the wallet account.

3. Dispatch of Card:

3.1 The Card shall be dispatched by MOLS PAY WALLET & CARD to the Cardholder at the address indicated in his Card application form. MOLS PAY WALLET & CARD shall not be responsible in any manner whatsoever for any loss and/or theft of or damage to the Card in transit and/or the quality of the courier services once the Card has been dispatched to the Cardholder at the address communicated by him.

3.2 The Cardholder shall ensure that the necessary documents/proofs evidencing the actual identity of the Cardholder and/or any person collecting on behalf of the Cardholder are kept ready for due verification by the courier agency at the time of actual delivery of the Card in physical format at the address communicated by the Customer to MOLS PAY WALLET & CARD at the time of applying for the Card. MOLS PAY WALLET & CARD reserves the discretion to not deliver the Card to any person acting on behalf of the Cardholder if the above mentioned documents are not made available to the courier agency at the time of delivery of the Card and the Cardholder shall not hold MOLS PAY WALLET & CARD responsible on this account.

3.3 In the event of three failed attempts for the delivery of the Card to the Cardholder and/or if the Cardholder or any person acting on behalf of the Cardholder refuses to accept the Card at the address communicated by him to MOLS PAY WALLET & CARD and/or if the Cardholder is not present at the address informed by him to MOLS WALLET & CARD, the Card in physical format shall be destroyed by MOLS WALLET & CARD. In such case, the Cardholder shall have to reinitiate the entire Card application process and the Cardholder shall not be entitled to any return or refund of any charges and/or fees collected by MOLS PAY WALLET & CARD towards the issuance and/or the dispatch of the Card. MOLS PAY WALLET & CARD shall not be liable for any negligence, mis-use, fraud, loss in respect of the Card by the third party who has collected the Card on behalf of the Cardholder.

4. Transaction Details

4.1 Statement

a. The Customer's MOLS PAY WALLET  passbook would reflect all the transactions performed through the Card.

b. SMS alerts would be sent to the Cardholder for every transaction done in the wallet account.

c. Transaction Disputes If there is a dispute regarding transactions listed in the Statement, the Customer must inform MOLS PAY WALLET & CARD within 90 days of the transaction reflecting in the passbook. MOLS PAY WALLET & CARD will conduct investigation and revert on such transactions. For certain disputes the Bank reserves the right to give a temporary credit to the wallet account during the period of investigation. However in case the dispute is settled against the Customer, the Bank may accordingly debit the amount from the bank account.

6. Operation of the Card

6.1 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, FEMA or any other applicable law in force and that of MOLS pay WALLET & CARD.

6.2 The Card shall be valid for transactions, as permitted by MOLS PAY WALLET & CARD and MASTER CARD from time to time in India, at online Merchants accepting MASTER CARD cards. MASTER CARD cards are accepted at 2,80,000+ online merchants.

6.3 The Bank shall not in any way be responsible for the quality of goods and/or services purchased or availed of by the Cardholder from the online 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 online merchants for the resolution of any dispute or claim that he may have regarding the goods and/or services.

6.4 The Cardholder's wallet account will be debited immediately with the amount of transactions effected by the use of the Card. The Cardholder should maintain sufficient funds in the wallet account to meet any such transactions.

7. Misuse / Compromise of Card Details

7.1 The Cardholder should block his Card temporarily and immediately through the MOLS PAY WALLET  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 wallet account on account of usage of the Card. The Cardholder may also contact MOLS PAY WALLET & CARD for reporting Card loss by visiting Chennai office (No 1H,Mandira apartment North boag Road T.nagar Chennai 600017) and/or any other bank branches as intimated by MOLS PAY WALLET & CARD for the said purposes or over the telephone at the numbers of MOLS WALLET & CARD's 24-Hour toll-free helplines or Customer Care Service Centre listed under the section- “Contact Us” of MOLS WALLET & CARD’s website. The Customer understands that any request for permanent blocking of the Card shall result in the blocking of the Card in electronic format as well.

7.2 The Cardholder must also report the misuse or loss of his Card to the police and lodge a First Information Report ("FIR").

7.3 The Cardholder shall activate the Card in physical format only upon its actual receipt by the Cardholder itself or upon collecting the same from any person who has collected the Card acting on behalf of the Cardholder. 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 wallet account on account of usage of the Card and the Bank shall not be responsible in any manner whatsoever. The Cardholder shall indemnify MOLS PAY WALLET & CARD 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 wallet account on account of usage of the Card. This clause shall survive the cessation of the banking relationship of the Customer with MOLS PAY WALLET & CARD and/or closure of the bank account.

7.4 The Cardholder shall be entitled to apply for re-issue of the Card post completion of the necessary formalities as required by MOLS WALLET & CARD.

7.5 The Cardholder agrees and understands that the PIN issued in respect of the Account by MOLS PAY WALLET & CARD to it provides access to the Account 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 PIN and/or be liable for all the transactions entered in to and/or routed through the Account using the Card and such PIN. The Cardholder shall under no circumstances record the PIN 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 PIN coming to knowledge of a third party. The Cardholder grants express authority to MOLS PAY WALLET & CARD for carrying out transactions or instructions authenticated on the basis of the PIN and shall not revoke or dispute the same. MOLS PAY WALLET & CARD is under no obligation to verify the authenticity of the transaction or instruction sent or purported to have been sent from the Cardholder other than by means of verification of the Cardholder's PIN.

7.6 MOLS PAY WALLET & CARD shall exercise due care when issuing PIN in respect of the Card and shall not disclose the PIN pertaining to the Card to anybody else except the Cardholder.

7.7 The Cardholder hereby agrees and understands that the Customer cannot undertake any cash withdrawal transactions at POS by way of the usage of the Card.

8. Termination

8.1 MOLS PAY WALLET & CARD shall be entitled to terminate the Card (and close the bank account) 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.

8.2 If the Cardholder decides to close his wallet account with MOLS PAY WALLET & CARD or upon the Bank’s receipt of information of demise of the Cardholder, the Card(s) issued with this account as the primary account, would automatically stand cancelled. In case any outstanding Card transactions that have not yet been debited from the wallet account or any outstanding credits that have not been transferred to the bank account, the same will be netted out from the balance prior to MOLS PAY WALLET & CARD returning the funds to the Customer.

UPI

These following terms and conditions (“Terms”) shall be applicable to the provision of the UPI fund transfer and fund collection facility provided / facilitated by MOLS PAY WALLET  (“MOLS WALLET & CARD”). MOLS PAY WALLET & CARD shall endeavor to provide to the Customer, UPI Facility in accordance with the UPI guidelines, circulars and/or regulations issued by the Reserve Bank of India (“RBI”) and/or National Payments Corporation of India (“NPCI”) from time to time (“Guidelines”) subject to the terms and conditions herein specified.

1. Definitions

In this document the following words and phrases have the meanings set opposite them unless the context indicates otherwise:

• "Account(s)"MOLS wallet account held and maintained with MOLS PAY WALLET & CARD or savings and/or current account held with any bank in India, to be used for operations through the UPI Facility.

• "Customer" means the applicant/remitter availing of the UPI Facility through his Account(s).

• "MOLS WALLET & CARD" means MOLS PAY WALLET  incorporated as a Company under the provisions of the Companies Act, 2013 (as amended from time to time) having its registered -1H, Mandira Apartment North boag road T.nagar Chennai.(which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns).

• “NPCI UPI System” means the switch and related equipment and software owned by NPCI to provide the UPI based fund transfer and funds collection facility including the National Financial Switch;

• "Payment Order" means an unconditional instruction issued by the Customer using the UPI Facility, to effect a fund transfer for a certain sum of money expressed in Indian rupees, to the designated account of a designated beneficiary by debiting Account(s) of the Customer.

• “UPI” refers to the Unified Payments Interface Service offered by NPCI in collaboration with its member banks.

• "UPI Facility" means the Unified Payments Interface Service based electronic fund transfer and fund collection facility provided / facilitated by MOLS PAY WALLET & CARD to its Customers through the NPCI UPI System as per the Guidelines. Words or expressions used in this form, but not specifically defined herein shall have the respective meanings assigned to them by NPCI.

2. Terms of engagement

Each Customer desirous of availing the UPI Facility, shall by way of a one-time registration, in such form, manner and substance as MOLS PAY WALLET & CARD may prescribe, apply for UPI Facility and MOLS PAY WALLET & CARD shall be entitled, at its sole discretion, to accept or reject such applications. The Customer may apply for UPI Facility by downloading the MOLS PAY WALLET  application (“the App”). The Customer will have an option to set a virtual payment address and start transactions using the UPI Facility. Customer can link other bank accounts through a one-time registration process defined and standardized by NPCI and then start transacting on that. By applying for and accessing the UPI Facility, the Customer accepts these Terms, which shall govern the provision of the UPI Facility by MOLS WALLET & CARD. The Terms shall be in addition to and not in derogation of the Guidelines issued from time to time.

The Customer hereby acknowledges that the Customer has read and understood the Guidelines and agrees that the rights and obligations provided therein and in these Terms in so far as it relates to the Customer shall be binding on the Customer with regard to every Payment Order issued by him/it for execution in the NPCI UPI System. The Customer understands and agrees that nothing in terms of availing the UPI Facility shall be construed as creating any contractual or other rights against NPCI or any participant in the NPCI UPI System other than MOLS WALLET & CARD. Notwithstanding anything contained herein, all terms and conditions stipulated by MOLS PAY WALLET & CARD in connection with the Accounts shall continue to apply.

The transaction limits using the UPI Facility shall be as per the Guidelines, an updated.

3. Scope of the UPI Facility

UPI Facility offers an instant, interbank electronic fund transfer or fund collection service to the customers of UPI member banks. The Customers can put in request for fund transfers or funds collection or respond to funds collection from the App application in a secure manner for any of their linked bank Accounts using their unique VPA handle.

4. Fees and Charges

• The fees and charges applicable for availing the UPI Facility shall be as per the rates fixed by MOLS WALLET & CARD. MOLS PAY WALLET & CARD may at its sole discretion update such fees and charges without providing any prior intimation to the Customer.

• Any government charges, duty or debits, or tax payable as a result of payments made using the UPI Facility shall be the Customer’s responsibility and if imposed MOLS PAY WALLET & CARD shall debit such charges, duty or tax against the Customer.

5. Rights and Obligations of the Customer

a. The Customer shall be entitled, subject to other terms and conditions of the service, to issue Payment Orders for execution by MOLS WALLET & CARD.

b. The Payment Order shall be issued by the Customer, in the form as prescribed by MOLS WALLET & CARD, which is complete in all particulars. The Customer shall be responsible for the accuracy of the particulars given in the Payment Order for UPI Facility and shall be liable to compensate MOLS PAY WALLET & CARD for any loss arising on account of any error in the Payment Order.

c. The Customer shall be bound by any Payment Order executed by MOLS PAY WALLET & CARD if MOLS PAY WALLET & CARD has executed the Payment Order in good faith and in compliance with the instructions given by the Customer.

d. The Customer authorizes MOLS PAY WALLET & CARD to debit Account(s) as per instructions received by way of Payment Orders. The Customer understands that although multiple bank accounts can be linked with the UPI Facility, debit/credit transactions can be done from the default account. Customer may change the default account before initiating such debit/credit transactions. Each Account that may be linked with the UPI facility can be opened with a separate username.

e. The Customer shall ensure availability of funds in his Account(s) towards the fulfillment of the Payment Order before/at the time of the execution of the Payment Order by MOLS WALLET & CARD. The Customer hereby authorizes MOLS PAY WALLET & CARD to debit the Account(s) of the Customer for any liability incurred by MOLS PAY WALLET & CARD on behalf of the Customer for execution of the instruction issued by the Customer. The Customer understands and agrees that once a fund collection request is accepted, the default account will automatically be credited with such amounts as may be mentioned in the fund collection request. The Customer understands and agrees that such amounts once credited to default account cannot be reversed by the Customer.

f. The Customer agrees that the Payment Order shall become irrevocable when it is executed by MOLS WALLET & CARD.

g. The Customer agrees that he shall not be entitled to make any claim against RBI and/or NPCI in respect to the UPI Facility.

h. The Customer agrees that MOLS PAY WALLET & CARD shall not be liable for any delay in the completion of the funds transfer or any loss on account of error in the execution of the funds transfer.

i. The Customer shall provide correct beneficiary details to MOLS PAY WALLET & CARD at the time of availing the UPI Facility. The Customer shall be solely responsible for entering wrong beneficiary details like incorrect Virtual Payment Address, incorrect Aadhar number or incorrect mobile number, due to which the fund are transferred to an incorrect beneficiary.

j. The Customer agrees that the UPI Facility are offered in line with the RBI’s guidelines on mobile banking which are subject to change from time to time.

k. Customer shall inform MOLS PAY WALLET & CARD immediately of any inquiry, question or issue raised by any authority including but not limited to any statutory authority or official regarding and relating to MOLS WALLET & CARD, as well as expeditiously notify MOLS PAY WALLET & CARD of any show causes, seizure or similar action and provide copies of any notices, memos, correspondences received from such authority. Customer shall not unilaterally file any response / reply to such an authority without the prior approval and vetting by MOLS WALLET & CARD.

l. The Customer shall be solely liable for ensuring availability of sufficient funds in the Account(s) at all times for the purpose of availing the Facility. The Customer agrees that in the event there are insufficient funds in the Account, MOLS PAY WALLET & CARD shall decline the transaction instruction.

6. Rights and obligations of MOLS WALLET & CARD

a. MOLS PAY WALLET & CARD  shall execute a Payment Order issued and duly authorised by the Customer , unless: (a) the funds available in the Account(s) of the Customer are not adequate or funds are not properly applicable/available to comply with the Payment Order (b) the Payment Order is incomplete or it is not issued in the agreed form, (d) MOLS PAY WALLET & CARD has reason to believe that the Payment Order is issued to carry out an unlawful transaction or (e) the Payment Order cannot be executed under the NPCI UPI System.

b. No Payment Order issued by the Customer shall be binding on MOLS PAY WALLET & CARD until MOLS PAY WALLET & CARD has accepted it.

c. MOLS PAY WALLET & CARD shall, for execution of every Payment Order, be entitled to debit the designated Account(s) of the Customer, with the amount of the funds to be transferred together with charges payable thereon.

d. A duly authenticated record of the transaction after completion of the funds transfer or funds collection or response to a funds collection request will be recorded in the statement of account in the mobile application of MOLS WALLET & CARD. The transaction will also be recorded in the statement of account given to the Customer by the Customer’s bank. The Customer shall, within a period of ten (10) days from the date of receipt of the monthly statement, report to MOLS PAY WALLET & CARD any discrepancy in the execution of the Payment Order. The Customer agrees that he shall not be entitled to dispute the correctness of the execution of the Payment Order or the amount debited to his Account(s) if he fails to report the discrepancy within the said period.

e. MOLS PAY WALLET & CARD for providing the UPI Facility to the Customer shall follow the process prescribed by NPCI in this regard including but not limited to process for settling of timed out transactions within the time limit prescribed by NPCI.

f. While MOLS PAY WALLET & CARD endeavors to provide the Customer the VPA handle of his/her choice, the decision of MOLS PAY WALLET & CARD to allocate or not to allocate a requested VPA shall be final and binding. MOLS PAY WALLET & CARD also reserves the right to withdraw a VPA at any time if it is found to be not as per the requirements of any statutory, regulatory authority or NPCI. In addition, MOLS PAY WALLET & CARD reserves the right to hold, stop, delete, reset any VPA used for any wrong doings, mis-use or under any unforeseen circumstance that may so warrant.

7. Instructions

The Customer is responsible for the accuracy and authenticity of the instructions provided to MOLS PAY WALLET & CARD and the same, if is in the form and manner prescribed by MOLS WALLET & CARD, shall be considered to be sufficient to operate the UPI Facility. MOLS PAY WALLET & CARD shall not be required to independently verify the instructions. MOLS PAY WALLET & CARD has no liability if it does not or is unable to stop or prevent the implementation of any Payment Order issued by the Customer. Once a Payment Order is issued by the Customer the same cannot be subsequently revoked by the Customer.

MOLS PAY WALLET & CARD states that it has no liability or obligation to keep a record of the instructions to provide information to the Customer or for verifying the instructions. MOLS PAY WALLET & CARD shall refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction. MOLS PAY WALLET & CARD has the right to suspend the transactions with respect to the UPI Facility if it has reason to believe that the Customer’s instructions will lead to or expose to direct or indirect loss to MOLS PAY WALLET & CARD or may require an indemnity from the Customer before continuing to operate the UPI Facility.

All instructions, requests, directives, orders, directions, entered by the Customer, are based upon the Customer’s decisions and are the sole responsibility of the Customer.

8. Disclaimer

MOLS PAY WALLET & CARD does not hold out any warranty and makes no representation about the quality of the UPI Facility. While MOLS PAY WALLET & CARD shall endeavor to promptly execute and process the transactions as proposed to be made by the Customer, MOLS PAY WALLET & CARD shall not be responsible for any non-response or delay in responding due to any reason whatsoever, including due to failure of operational systems or any requirement of law. The App is provided on an "as is" basis with no representation, guarantee or warranty of any kind, either express or implied, as to its functionality. Downloading or using the App does not automatically entitle the Customer to receive hard-copy documentation, technical support, telephone assistance, or updates to the App from MOLS WALLET & CARD. No warranty is provided that the App will be free from defects or virus or that operation of the App will be uninterrupted. Use of the App by the Customer is at the Customer’s own discretion and risk and the Customer is solely responsible for any damage resulting from the use of the App. MOLS PAY WALLET & CARD shall not be liable for any loss, claim or damage suffered by the Customer and/or any other third party arising out of or resulting from failure of a UPI transaction on account of time-out transaction i.e. where no response is received from NPCI or the beneficiary bank to the transaction request and/or where mobile number or account number of the beneficiary does not exist. Further, MOLS PAY WALLET & CARD shall also not be liable for any loss, damage and/or claim arising out of or resulting from wrong beneficiary details, mobile number and/or account details being provided by the Customer. MOLS PAY WALLET & CARD shall under, no circumstance, be held liable to the Customer if UPI Facility access is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of MOLS WALLET & CARD. Illegal or improper use of the UPI Facility shall render the Customer liable for payment of financial charges (to be decided by MOLS WALLET & CARD) or may result in suspension of the UPI Facility to the Customer. All the records of MOLS PAY WALLET & CARD generated by the transactions arising out of the use of the UPI Facility, including the time the transaction is recorded shall be conclusive proof of the genuineness and accuracy of the transaction. For the protection of both the parties, and as a tool to correct misunderstandings, the Customer understands, agrees and authorises MOLS WALLET & CARD, at its discretion, and without further prior notice to the Customer, to monitor and record any or all telephone conversations between the Customer and MOLS PAY WALLET & CARD and any of its employees or agents. MOLS PAY WALLET & CARD expressly disclaims all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy and completeness, and any warranties relating to non-infringement in the UPI Facility.

9. Indemnity and Liability

The Customer hereby undertakes and agrees to indemnify at all times and hold harmless MOLS WALLET & CARD, NPCI and such other third party as MOLS PAY WALLET & CARD or NPCI deems appropriate against all actions, proceedings, claims, liabilities (including statutory liability), penalties, demands and costs, awards, damages, losses and/or expenses however arising as a result of:

i. Any breach of any applicable law, rules and regulations, Guidelines or fraud;

ii. violations of the Terms by the Customer or unauthorized use of the UPI facility;

iii. any misrepresentation or breach of representation or warranty made by the Customer contained herein;

iv. any act, neglect or default on the part of the Customer.

Customer shall also fully indemnify and hold harmless MOLS PAY WALLET & CARD and NPCI against any loss, costs, expenses, demands or liability, whether direct or indirect, arising out of a claim by a third party pertaining to the use of UPI Facility by the Customer.

The Customer hereby agrees that under no circumstances, MOLS WALLET & CARD’s aggregate liability for claims relating to the UPI Facility, whether for breach or in tort including but not limited to negligence shall be limited to the transaction charges/fees or consideration received by MOLS PAY WALLET & CARD in the preceding one (1) month from the date of first occurrence of such liability. Notwithstanding the foregoing and except for any liability which cannot by law be excluded or limited, MOLS pay WALLET & CARD’s liability for indirect, incidental, special, punitive or consequential damages, including without limitation, damages for loss of profits, business interruption, Interruption or stoppage to the Customer’s access to and/or use of the App, loss of goodwill or unauthorized access to information incurred by the Customer howsoever arising, whether framed as a breach of warranty, in tort, contract, or otherwise even if MOLS PAY WALLET & CARD has been advised of the possibility of such damages.

 

10. Termination

The Customer may request for termination of the UPI Facility at any time by giving a prior written notice of at least 30 (thirty) days to MOLS WALLET & CARD. The Customer will remain responsible for all the transactions made through the UPI Facility until the time of such termination. MOLS PAY WALLET & CARD may withdraw or terminate the UPI Facility anytime either entirely or with reference to a specific UPI Facility without assigning any reasons whatsoever. MOLS PAY WALLET & CARD may suspend or terminate the UPI Facility without prior notice if the Customer has breached any of these Terms.

11. Governing Law and Jurisdiction

The Terms shall be governed by laws of India and any dispute regarding the Terms shall referred to the exclusive courts of New Delhi.

12. Headings

The clause headings in this Terms are only for convenience and do not affect the meaning of the relative clause.

13. Sub-contracting and Assignment

MOLS PAY WALLET & CARD may sub-contract and employ agents to carry out any of its obligations hereunder. MOLS PAY WALLET & CARD may, at its sole discretion, transfer or assign its rights and obligations stated herein, without providing any notice to the Customers, or to any third parties.

14. Notice

You can contact MOLS PAY WALLET  Payments Bank Limited in any of the following ways:

Visit our Branch 1 H Mandira Apartment North boag road T.nagar Chennai 600017

Write to us at the below address:
The Nodal Officer, 
MOLS PAY WALLET  Mols India Pvt Ltd
1 H Mandira Apartment North boag road T.nagar Chennai 600017

Notices under these Terms may be given in writing by delivering them by hand or by sending them by post to the last address given by the Customer and in the case of MOLS PAY WALLET & CARD to its address given above. In addition, MOLS PAY WALLET & CARD may also publish notices of general nature, which are applicable to all Customers in a newspaper or on its website at www.molsindia .com. Such notices will have the same effect as a notice served individually to each Customer. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile.

15. Miscellaneous

MOLS PAY WALLET & CARD has the absolute discretion to amend or supplement any of the Terms as stated herein at any time and will endeavor to give prior notice of fifteen days for such changes wherever feasible. By his/her continuous use of the UPI Facility, the Customer shall be deemed to have accepted the updated terms and conditions. Any provision of these Terms, which is prohibited or unenforceable in any jurisdiction, shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of these Terms or affect such provision in any other jurisdiction. MOLS PAY WALLET & CARD shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the Account(s) to the extent of all outstanding dues, whatsoever, arising as a result of the UPI Facility extended to and/or used by the Customer.

FASTAG Issuance

MOLS PAY WALLET  FASTAG is a simple and reusable tag based on radio-frequency identification technology (RFID) that will be affixed on a vehicle’s windscreen. Each FASTAG is linked to a registered MOLS PAY WALLET wallet / account to facilitate instant automatic deduction of toll charges. This program is part of the National Electronic Toll Collection (NETC) initiative rolled out by NPCI under the guidelines of NHAI & IHMCL.

Only one FAST ag can be issued against any particular vehicle at any given point of time, in case customer reaches to MOLS PAY WALLET & CARD for new FASTAG issuance, customer has to ensure that earlier issued FASTAG against same vehicle are destroyed and demolished. In case the customer fails to destroy the FASTAG, he will be charged from both the FASTAGs/accounts until one of them is destroyed/deactivated and inform the earlier bank that issued the FASTAG. The below Terms and Conditions apply to the RFID enabled prepaid FASTAG (“FASTAG”) facility made available to you (“Customer”) by MOLS PAY WALLET  (“MOLS WALLET & CARD”).

1. By submitting the application, the Customer shall be deemed to have agreed and accepted the Terms and Conditions. MOLS PAY WALLET & CARD may issue the MOLS PAY WALLET  FASTAG only to Customers who are making this application for the FASTAG and agreeing to the applicable terms and conditions in the form and manner prescribed by MOLS PAY WALLET & CARD from time to time.

2. The FASTAG shall be solely used for the purpose of making applicable toll payments at designated Toll plazas on the highway through the electronic toll collection (“ETC”) enabled lane. The list of designated toll plazas is made available at https://MOLS PAY WALLET .com/FASTAG.

3. The Customer who wishes to avail the FASTAG shall be required to have standard MOLS PAY WALLET , within which a sub wallet (i.e. FASTAG Wallet) shall be created. Such wallet (FASTAG Wallet) shall have predefined monetary limits.

4. Wallet holder may also get access to the FASTAG Wallet which will be a part of the MOLS PAY WALLET  and the maximum monetary limit as specified in the RBI guidelines and amendment from time to time shall apply to the combined limit of the MOLS PAY WALLET  t and FASTAG Wallet.

5. Any charge levied by the establishment on the purchase made by the FASTAG wallet holder using the MOLS PAY WALLET  FASTAG wallet shall be settled by such MOLS PAY WALLET  FASTAG Wallet holder with the establishment directly and MOLS PAY WALLET & CARD shall not be responsible for the same.

6. All spends by Wallet holder from the FASTAG Wallet should be in compliance with the applicable laws. Wallet holder agree that FASTAG Wallet shall be used by FASTAG Wallet holder solely for the purpose of purchase of ETC enabled toll tickets from relevant establishments who have agreed to redeem the amount from the FASTAG Wallet section and have an arrangement with MOLS PAY WALLET & CARD in this regard.

7. FASTAG Wallet holder agree and confirm that no P2B (Personal to Bank transfer), P2P (Peer to Peer) and no cash out are permitted from FASTAG Wallet balances.

8. MOLS PAY WALLET  FASTAG can also be purchased through E-commerce channel. Once customer provide the details, FASTAG to be sent to Customer through courier services at the address provided by the Customer.

9. Based on the information provided by the customer through the online form, customer’s MOLS PAY WALLET  FASTAG will be allocated to Vehicle detail provided.

10. Customer has to provide the original vehicle registration copy for tag issuance activity.

11. MOLS PAY WALLET & CARD may ask for other necessary details as in vehicle details, photograph of vehicle with FASTAG affixed on it, as part of mandatory documents for MOLS PAY WALLET  FASTAG activation in order to validate the documents.

12. It is customer’s responsibility to make sure that MOLS PAY WALLET  FASTAG ordered against vehicle is affixed on same vehicle.

13. FASTAG Wallet holder shall prior to availing the FASTAG Wallet services from MOLS PAY WALLET & CARD obtain appropriate advice and shall familiarize himself with the associated risks and all the terms and conditions pertaining to the FASTAG Wallet Service. FASTAG Wallet holder further verify all facts and statutory provisions and seek appropriate professional advice including the relevant tax implications.

14. The FASTAG Wallet holder agrees that he/she will not use the MOLS PAY WALLET  FASTAG Wallet for payment of any illegal/unlawful purchase/purposes.

15. In case of termination/cancellation of single FASTAG mapped under wallet having multiple FASTAG issued, FASTAG wallet service will continue.

16. The FASTAG Wallet holder shall agree to submit all the documents with the MOLS PAY WALLET & CARD as directed from time to time, to meet KYC / KYV / KYB norms in compliance with the relevant extant guidelines of the Reserve Bank of India.

17. The FASTAG Wallet holder shall forthwith notify the MOLS PAY WALLET & CARD of any change in his/her address for communication as submitted with MOLS PAY WALLET & CARD at the time of activating MOLS PAY WALLET  FASTAG Wallet. The responsibility shall be solely of the FASTAG Wallet holder to ensure that MOLS PAY WALLET & CARD has been informed of the correct address for communication.

18. The FASTAG Wallet holder shall act in good faith at all times in relation to all dealings with the MOLS WALLET & CARD.

19. The FASTAG Wallet holder shall be fully responsible for wrongful use of the MOLS PAY WALLET  FASTAG Wallet.

20. The FASTAG Wallet holder shall indemnify MOLS PAY WALLET & CARD to make good any loss, damage, interest, or any other financial charge that MOLS PAY WALLET & CARD may incur and/or suffer, whether directly or indirectly, as a result of FASTAG Wallet holder committing violations of these Terms and Conditions.

21. The FASTAG Wallet holder will indemnify and hold MOLS PAY WALLET & CARD harmless for any / all actions, proceedings, claims, liabilities (including statutory liability), penalties, demands and costs, awards, damages and losses arising out of wrongful use or cancellation (wrongful or otherwise) of a MOLS PAY WALLET  FASTAG Wallet Service.

22. The Customer need to inform MOLS PAY WALLET & CARD of any loss or theft of MOLS PAY WALLET & CARDFASTAG. In case the Customer finds a lost or stolen FASTAG, please inform MOLS PAY WALLET & CARD immediately. Any loss or theft of the FASTAG shall be immediately reported to a MOLS WALLET & CARD, also same shall be reported to police station and an FIR shall be registered, if required

23. The MOLS PAY WALLET & CARD shall at no time be responsible for any liability arising out of or in relation to the lost or stolen FASTAG or any misuse of the FASTAG by any of the Customers or its representative. FASTAG issued to the Customer shall at all times remain the property of MOLS PAY WALLET & CARD and shall be surrendered to MOLS WALLET & CARD, on request. In case of replacement of FASTAG, Customer will be charged with the replacement fee. FASTAG is non-transferable but can be cancelled as per the policies of MOLS WALLET & CARD. For any charges related concern please visit our web page www.molsindia .com/fastag

24. In case the FASTAG remains unused or wallet is not refilled for a period of 6 months with a due balance amount, the FASTAG Wallet will be closed with prior intimation to the Customer and such FASTAG shall not be accepted at any Toll Plazas for the purpose of payment of toll.

25. At any stage Customer’s FASTAG wallet threshold balance gets exhausted due to transactions done at the toll plazas and wallet reaches to a due balance state, due balance will be adjusted from the Customer’s security amount deposited at the time of FASTAG issuance. Customer has the rights to suspend / terminate the FASTAG services for the desired period / permanently respectively either by MOLS PAY WALLET  Customer Support or by web portal.

26. On termination of the FASTAG any outstanding amount, whether or not already reflected in the statement and, the amount / charges incurred after termination, shall become forthwith due and payable by the Customer as though they had been so reflected, and interest will accrue thereon as may be applicable as per MOLS PAY WALLET & CARD policy/process from time to time.

27. The Customer shall continue to be fully liable for MOLS PAY WALLET & CARD for all charges incurred on the FASTAG prior to termination.

28. Notice of termination or request to surrender of the FASTAG shall be deemed given when a notice posted to the mailing address/email ID of the Customer, as per the records Of MOLS PAY WALLET & CARD is received by the Customer through ordinary post/email. The Customer agrees to surrender the FASTAG of MOLS WALLET & CARD, or its representative, upon being requested to do so. The Customer may not use the FASTAG notice of termination has been received by him/her.

29. MOLS PAY WALLET & CARD FASTAG is valid in India only.

30. The FASTAG issued by MOLS PAY WALLET & CARD to the Customer shall be mandatorily affixed by the authorized representative of the MOLS PAY WALLET & CARD on the vehicle of Customer with the license plate number specified by the Customer in the application. The FASTAG is not transferable and only be used for the specific vehicle on which the FASTAG has been affixed by the authorized representative of the Bank.

31. At the time of making the application for issuance of the FASTAG, The Customer shall be required to pay a minimum amount (please see web page for information on FASTAG charges – www.MOLS PAY WALLET .com/FASTAG) as FASTAG fee plus applicable taxes, threshold amount and also the security deposit as per the type of the vehicle with a maximum limit of Rs.1, 00,000 (Rupees One Lakh only) at any given point of time or such other limit as may be specified by the MOLS PAY WALLET & CARD subject to Internal and Applicable regulatory and statutory guidelines.

32. The FASTAG shall be activated subject to approval of application by the MOLS PAY WALLET & CARD and a minimum amount being loaded on the FASTAG by the Customer such funds shall be loaded on the FASTAG after deduction of applicable charges/fees etc., payable by the Customer to MOLS PAY WALLET & CARD for availing the FASTAG.

33. Customer shall ensure to keep the FASTAG safe. The Customer shall be bound to comply with these terms and conditions and all the policies stipulated by MOLS PAY WALLET & CARD from time to time in relation to the FASTAG. MOLS PAY WALLET & CARD may, at its sole discretion, refuse to accept the application and to issue the FASTAG to the Member.

34. The MOLS PAY WALLET & CARD shall at no time be responsible for any surcharge levied and debits made at the Tolls.

35. All transaction undertaken at a participating Toll plaza shall be conclusive proof that the charge is recorded or such requisition was properly incurred for the amount by Customer using the MOLS PAY WALLET  FASTAG except where the FASTAG has been lost, stolen or fraudulently misused, the burden of proof for which shall be on the Customer.

36. Customer shall at no time exceed the expenditure at the toll plaza than the amount available in his wallet.

37. MOLS PAY WALLET & CARD reserves the right to bill the Customer for any due balance in its sole discretion.

38. The Customer agrees to pay MOLS PAY WALLET & CARD promptly for the due balance.

39. MOLS PAY WALLET & CARD also reserves the right in its sole discretion to cancel/terminate the FASTAG should the Customer create one or more due balance with the FASTAG.

40. FASTAG activation takes 24-48 business hours post issuance.

41. MOLS PAY WALLET & CARD reserves unto itself the absolute discretion to decline to honor the transaction requests on the FASTAG, without assigning reason thereof.

42. Customer reserves the right to cancel his/her account / wallet at any time after submitting such documents and information as may be required by the MOLS PAY WALLET & CARD and also return the FASTAGs. The balance amount (if any) remaining in the related to FASTAG would be returned to Customer in his MOLS PAY WALLET 

43. MOLS PAY WALLET & CARD Customer care can be reached for any enquiries pertaining to the FASTAG. Customers shall immediately inform the MOLS PAY WALLET & CARD in case they find any irregularities or discrepancies in any transaction undertaken with the FASTAG.

44. The Customer will be liable to pay MOLS WALLET & CARD, upon demand, all amounts outstanding from the Customer to MOLS WALLET & CARD.

45. The holding and use of the FASTAG will incur fees which will be debited to the balance available in the MOLS PAY WALLET account.

46. FASTAG issuance fee is non-refundable.

47. Any Government charges, duty on debits, or tax payable as a result of the FASTAG shall be the Customers responsibility and if imposed upon MOLS PAY WALLET & CARD(Either directly or indirectly), MOLS PAY WALLET & CARD shall debit such charges, duty on tax against the balance available on the FASTAG there will be separate service charges levied for such facilities as may be announced by the bank from time to time and deducted from the balance available on the FASTAG. In the situation that the balance available on the FASTAG is not sufficient to deduct such fees, the Bank reserves the right to deny in further transactions. The Customer also authorizes MOLS PAY WALLET & CARD to deduct from the balance available on his MOLS PAY WALLET  to balance out the FASTAG minimum threshold balance, and indemnifies the MOLS PAY WALLET & CARD against any expenses it may occur in collecting money owed to it by the Customer in connection with the FASTAG. (Including without limitation reasonable legal fees). MOLS PAY WALLET & CARD may levy services and other charges for use of the FASTAG, which will be notified by the Customer from time to time by updating this terms and conditions. The Customer authorizes to recover all charges related to the FASTAG as determined by MOLS PAY WALLET & CARD from time to time by debiting the balance available on the MOLS PAY WALLET . Details of the applicable fees and charges as stipulated by MOLS PAY WALLET & CARD shall be displayed on the website.

48. The Customer agrees to indemnify and keep indemnified MOLS PAY WALLET & CARD against all and any claims, suits, liability , damages, losses , costs charges, proceedings, expenses, and actions of any nature whatsoever made or instituted against MOLS PAY WALLET & CARD or incurred by MOLS PAY WALLET & CARD on account of usage of the FASTAG. “MOLS PAY WALLET & CARD may, at its sole discretion, utilize the services of external service provider/’s or agent/’s and on such terms as required or necessary, in relation to its products/services

49. MOLS PAY WALLET & CARD shall be providing copies of the Transaction slips to the Customer also transactional alerts through short messaging system message on the registered mobile number for that FASTAG with the Bank.

50. The Customer hereby agrees to indemnify and hold MOLS PAY WALLET & CARD indemnified from and against and all actions, claims, demands ,proceeding ,losses ,damages costs, charges and expenses whatsoever which the Bank may at any time incur or be put to as consequence of or by reason of or arising out of providing the FASTAG to the Customer or by reason of MOLS WALLET & CARD’s act of taking / refusing / omitting to take action on the Customer instructions, and in particular arising directly or indirectly out of negligence, mistake, misconduct or dishonesty relating to any Transaction by the Customer. The Customer shall also indemnify MOLS PAY WALLET & CARD fully without prejudice to the foregoing, MOLS PAY WALLET & CARD shall be liability whatsoever to the Customer in respect of any loss or damage arising directly or indirectly out of any act of any third party including but not limited to the Toll plaza’s deduction of amounts from the FASTAG. MOLS WALLET & CARD’s liability for any and all causes whatever exceed INR5,000/-

51. Notwithstanding anything stated under this Agreement, the aggregate liability of MOLS PAY WALLET & CARD from any and all causes whatsoever shall not in any and all events in the aggregate exceed the sum equivalent to the preceding INR5,000/-

52. Jurisdiction – These terms shall be interpreted, construed and enforced in all respects in accordance with the laws of India without regard to any principles of conflicts of laws thereof. Both the Parties agree that the competent courts at New Delhi shall have the exclusive jurisdiction.

53. MOLS PAY WALLET & CARD reserves the right in its absolute discretion to amend or supplement any of the terms and conditions, features and benefits offered on the FASTAG including, without any limitation to changes affect interest charges or rates and methods of calculation at any time. The balance available on the FASTAG shall be liable to be utilized for all charges incurred and other obligations under the revised terms and conditions. MOLS PAY WALLET & CARD shall notify/communicate the amended terms and conditions by hosting the same on the FASTAG website or any other manner decided by MOLS WALLET & CARD. The Customer shall be responsible for regularly viewing the terms and conditions, including amendments thereto as may be posted on the FASTAG website and shall be deemed to have accepted the amended terms and conditions by continuing to use the FASTAG.

54. Terms and Condition may change as per MOLS WALLET & CARD’s and Governments policy, for changes please refer to our webpage – https://molsindia .com

 

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