Terms & Conditions
These Terms & Conditions govern the access and use of the MoCard mobile application and website operated by MOCARD PAYMENT SERVICES PRIVATE LIMITED.
By downloading, installing, accessing, registering, or using the App or any of the Services, you ("User", "You", "Your") agree to be bound by these Terms, our Privacy Policy, KYC Policy, Refund Policy, and all other policies published on the Platform. If you do not agree, please do not use the Services.
1. Eligibility
Age Requirement
You must be at least 18 years of age and legally competent to enter into a binding contract under Indian law.
Residency
You must be a resident of India with a valid Indian mobile number and bank account.
Accurate Information
You agree that all information provided during registration and KYC is true, accurate, complete, and up to date.
Account Suspension
Users failing to meet eligibility criteria may have their accounts suspended or terminated without notice.
2. Services Offered
Digital Wallet
Digital Wallet services for storing and managing funds securely.
UPI Payments
UPI payments and collections for seamless bank-to-bank transfers.
P2P Transfers
Peer-to-peer (P2P) transfers between registered users.
Merchant Payments
Merchant payments (online) for goods and services.
Recharge & Bills
Mobile recharge and bill payments for utilities and services.
Note
The Company does not itself provide banking services and partners with regulated banks, NBFCs, and payment aggregators.
3. User Account Registration
Account Creation
To access Services, Users must create an account using a verified mobile number.
Single Account
One User is permitted only one account unless explicitly authorized.
Credential Security
You are responsible for maintaining the confidentiality of your login credentials.
Account Activity
Any activity performed through your account shall be deemed authorized by you.
4. KYC Compliance
Mandatory KYC
Completion of Full KYC is mandatory to access any wallet or payment services.
Documents Required
KYC documents may include PAN, Aadhaar, selfie verification, and bank details.
Re-verification
The Company reserves the right to re-verify KYC at any time.
Restriction
Accounts without completed KYC will not be permitted to transact.
5. Transaction Limits
Daily Limit
Daily transaction limit is capped at INR 1,00,000 or as prescribed by RBI/NPCI.
Variable Limits
Limits may vary based on KYC status, risk assessment, or regulatory updates.
Revisions
The Company may revise limits without prior notice based on regulatory requirements.
6. Wallet Usage
Maximum Balance
Maximum wallet balance permitted is INR 5,00,000.
No Interest
Wallet balances do not earn interest.
Permitted Use
Wallet funds may be used only for permitted transactions.
Withdrawals
Withdrawals are allowed subject to compliance checks.
7. Merchant Payments
Settlement Cycles
Merchant payments are subject to settlement cycles (T+1 or T+2).
MDR
Merchant Discount Rate (MDR) may be applicable as per agreements.
Disputes
The Company is not responsible for merchant disputes relating to goods/services.
8. Fees & Charges
Service Fees
Certain services may attract convenience or processing fees.
Disclosure
Fees will be disclosed prior to transaction confirmation.
Fee Revisions
The Company reserves the right to revise fees.
9. Refunds & Reversals
Refund Timeline
Failed or reversed transactions shall be refunded within 7 working days.
Credit Source
Refunds will be credited to the original source.
Convenience Fees
Convenience fees are refundable unless otherwise stated.
10. Prohibited Activities
Illegal Activities
Users shall not engage in illegal or fraudulent activities.
Money Laundering
Use of the Platform for money laundering or terrorism financing is strictly prohibited.
Service Misuse
Misuse of UPI or wallet services is not permitted.
Law Violations
Violation of applicable laws or regulations is prohibited. Violation may result in immediate suspension.
11. AML & Fraud Monitoring
Automated Monitoring
Automated systems monitor transactions for suspicious activity.
Reporting
The Company may report suspicious transactions to authorities.
Account Freeze
Accounts may be frozen pending investigation.
12. Data Privacy
Privacy Policy
User data is processed in accordance with the Privacy Policy.
Data Storage
Data is stored securely on AWS servers located in India.
Compliance
The Company complies with the IT Act, 2000 and DPDP Act, 2023.
13. Account Suspension & Termination
Suspension Reasons
The Company may suspend or terminate accounts for policy violations, regulatory requirements, or security concerns.
Account Closure
Users may request account closure subject to settlement of dues.
14. Disclaimer of Warranties
As-Is Basis
The Services are provided on an "as-is" and "as-available" basis.
No Warranties
The Company disclaims all warranties including merchantability and fitness for a particular purpose.
15. Limitation of Liability
Limited Liability
The Company shall not be liable for indirect, incidental, or consequential damages including loss of profits, data, or reputation.
16. Indemnity
User Indemnification
You agree to indemnify and hold harmless the Company from claims arising from misuse of Services or violation of these Terms.
17. Third-Party Services
Integrations
The Platform integrates third-party services including banks, payment gateways, and analytics tools.
Disclaimer
The Company is not responsible for third-party actions.
18. Governing Law & Jurisdiction
Applicable Law
These Terms shall be governed by Indian law.
Jurisdiction
Courts in Odisha shall have exclusive jurisdiction.
20. Changes to Terms
Modifications
The Company reserves the right to modify these Terms at any time.
Acceptance
Continued use constitutes acceptance of revised Terms.
19. Grievance & Contact
Your Agreement
By using MoCard, you acknowledge that you have read, understood, and agreed to these Terms & Conditions.