Terms & Conditions

Introduction and Agreement

Welcome to Payfly, a comprehensive web and mobile service provided by Payfly ("We," "Us," or "Our"). This Terms of Service Agreement ("Agreement") establishes the legal parameters for your use of our online services, payment gateway, and associated software (collectively, the "Service"). By accessing or integrating the Service, you signify your irrevocable acceptance of this Agreement and the Payfly Privacy Policy. If you do not accept these terms, you are prohibited from utilizing our infrastructure.

Registration and Business Verification

To harness the Payfly platform, you must establish a Payfly Account. You are obligated to provide entirely accurate, current, and comprehensive information. If you represent a corporate entity ("Seller" or "Merchant"), you warrant that you are a duly authorized representative empowered to legally bind the entity to this Agreement.

You must maintain all necessary regulatory licenses and approvals required by Indian law. Payfly reserves the right to request supplementary documentation at any juncture to verify your identity, the legitimacy of your enterprise, or to comply with Know Your Customer (KYC) directives.

Eligibility

The Service is strictly restricted to individuals who are at least 18 years of age and legally competent to form binding contracts. Furthermore, you affirm that you are not barred from accessing financial services under any applicable laws in India.

Our Role: Intermediary and Facilitator

Payfly functions solely as an online technological intermediary, bridging the gap between Sellers, Buyers, and Payment System Providers (e.g., banks, Payment System Providers). We are neither a Banking Company nor a Non-Banking Financial Company (NBFC) under the purview of the Reserve Bank of India (RBI).

We deploy robust Internet Payment Gateways to authenticate, authorize, and route transaction instructions. Consequently, our Service relies upon the uninterrupted operation of these third-party financial institutions.

Your Obligations Towards Payment Networks

By leveraging Payfly, you explicitly agree to comply with all prevailing guidelines, mandates, and restrictions imposed by Payment System Providers and Payment System Providers . These entities possess the unilateral right to reject transactions, impose volume limits, or suspend processing based on risk assessments.

Should your non-compliance result in fines or penalties levied against Payfly, you agree to immediately indemnify and reimburse us for the full quantum of such penalties.

Transaction Processing and Settlement

You authorize Payfly to receive, hold, and disburse funds on your behalf via our designated Nodal Accounts. Upon successful transaction authentication and receipt of funds in the Nodal Account, we will instruct our banking partners to settle the proceeds to your registered bank account, net of our agreed processing Fees.

Settlement timelines (e.g., T+2 or T+3 business days) are governed by RBI directives and your specific Merchant categorization based on risk profiles.

Fees and Tax Liabilities

In consideration of the infrastructure provided, you agree to pay the Fees outlined in our pricing schedule. Fees will be deducted at the source during the settlement process. You retain sole responsibility for determining, collecting, and remitting any applicable taxes (including GST) related to the sale of your goods or services.

Chargebacks, Refunds, and Financial Risk

The Merchant assumes absolute liability for all chargebacks, refunds, and buyer disputes. In the event of a disputed transaction, you must provide substantial "Proof of Delivery" within 5 days. Failure to contest a dispute successfully will result in Payfly recovering the contested amount from your future settlements or Security Deposit.

If we ascertain that your account incurs excessive chargebacks, we may unilaterally implement risk controls, including delaying payouts or demanding an interest-free Security Deposit as a reserve against anticipated losses.

Restricted Businesses and Termination

Payfly vehemently prohibits the use of its Services for processing payments related to illegal, unethical, or high-risk ventures. This includes, but is not limited to: adult content, gambling, illegal narcotics, counterfeit goods, unauthorized software, multi-level marketing schemes, and any products violating Indian law.

We reserve the right to instantaneously suspend or terminate your Payfly Account without prior notice if we detect fraudulent activity, unacceptable credit risks, or a breach of this Agreement. Upon termination, we may withhold settlement funds for up to 210 days to cover potential post-termination chargebacks.

Intellectual Property Rights

Payfly grants you a limited, revocable, non-transferable license to access our APIs and dashboards strictly to manage your payments. All copyrights, trademarks, source code, and intellectual property inherent in the Payfly platform remain our exclusive property. You are prohibited from reverse-engineering, scraping, or creating derivative works from our software.

Indemnification and Limitation of Liability

You agree to indemnify and hold harmless Payfly, its directors, and Payment System Providers against all claims, losses, or legal costs arising directly from your business practices, defective products, breach of data privacy, or violation of this Agreement.

To the maximum extent permitted by law, Payfly shall not be liable for any indirect, punitive, or consequential damages resulting from system downtimes, unauthorized access, or the actions of third-party payment networks. Our aggregate liability shall never exceed the sum of the Fees earned from you in the preceding month.

Governing Law and Dispute Resolution

This Agreement is construed in accordance with the laws of India. Any irreconcilable dispute arising from these terms shall be subject to binding arbitration governed by the Arbitration and Conciliation Act, 1996. The seat of arbitration shall be New Delhi, and proceedings will be conducted in English.

Contact Information

For legal notices or service inquiries, please contact:

Payfly
Amrita Shergill Road,
New Delhi, 110003
Email: contact@payfly.in