Terms & Conditions


Please read these Terms and Conditions carefully as the use of this website and submission of any application for services is deemed as consent to any and all provisions herein.

I agree to abide by PPay Inc.’s Terms and Conditions and rules in force and the changes thereto in Terms and Conditions from time to time relating to my account as communicated and made available on PPay Inc.’s website.

I agree that the opening and maintenance of the merchant account is subject to rules and regulations introduced or amended from time to time by PPay Inc..

I agree that PPay Inc. before opening any merchant account will carry out due diligence as required under Know Your Customer guidelines of PPay Inc. I would be required to submit necessary documents or proofs, such as identity, address, photograph and any such information to meet with KYC, AML or other statutory/regulatory requirements.

Further, after the merchant account is opened, in compliance with the extant regulatory guidelines, I agree to submit the above documents again at periodic intervals, as may be required by PPay Inc.

I agree that PPay Inc. may, at its discretion, engage the services of Business Facilitators (hereinafter referred to as “BF”) and Business Correspondents (hereinafter referred to as “BC”) for the extension of additional companies and financial services so as to ensure greater financial inclusion and increasing the outreach of the business sector. PPay Inc., however, shall be responsible for the acts and omission of such BC and BF.

I agree that, under normal circumstances, PPay Inc. has the liberty to close my merchant account at any time by giving me at least 10 days’ notice. However, if the Average Monthly/ Quarterly Quotas are not maintained, PPay Inc. reserves the right to close my merchant account without giving any prior notice.

I agree that PPay Inc. can at its sole discretion, amend any of the services/facilities given in my merchant account either wholly or partially at any time by giving me at least 10 days’ notice and/or provide an option to me to switch to other services/facilities.

I agree that any change in my merchant account status or change of address will be immediately informed to PPay Inc. Failing which I shall be responsible for any non-receipt of communication/deliverables or the same being delivered at my old address.

I agree that all instructions relating to my merchant account will be issued to PPay Inc. as per acceptable mode of communication to PPay Inc.

I agree to preserve my merchant account carefully. In case of the compromise of the same I shall immediately inform PPay Inc. in writing.

I agree that I will maintain the minimum processing volume in my merchant account as prescribed by PPay Inc. from time to time.

I agree that I shall be liable to pay all legal fees, charges, fees, interest, and costs wherever applicable, which PPay Inc. may levy with respect to my merchant account or any transaction or services rendered, and the same may be recovered by PPay Inc. by a debit to my merchant account. I agree and acknowledge that in case of non-availability of adequate funds the charges will be debited to the merchant account over a period of time till the entire amount is recovered.

PPay Inc. reserves the right to refuse debit and credit transactions on my merchant account in case the Average Monthly/ Quarterly Processing Volumes in the merchant account are not maintained.

I agree that I shall not pay any amount in cash to any Sales Representative of PPay Inc. at the time of opening an merchant account or carrying out any transaction in the normal course of business.

I agree to execute necessary writings in the form and manner as may be required by PPay Inc. in order to execute my instructions to PPay Inc.

I agree that PPay Inc. will send me communications/letters etc. through courier/messenger/mail or through any other mode at its discretion and PPay Inc. shall not be liable for any delay arising there from.

I agree and acknowledge that in the absence of my specific instructions to settle funds or to personally collect proceeds on deposit in my merchant account from PPay Inc within 30 days of said funds availability, that these fund shall be forfeit and deemed the sole property of PPay Inc.

I agree that PPay Inc. will, unless requested by me in writing to the contrary, issue settlements from the merchant account. Further issue of settlements will be only against written requisition by me or by settlement schedule.

I agree and undertake to ensure that there would be sufficient funds/cleared balance/pre-arranged credit facilities in my merchant account for effecting settlement and other debit transactions. I agree that PPay Inc. shall not be liable for any consequences arising out of non-compliance by PPay Inc. of my instructions due to inadequacy of funds and PPay Inc. can at its sole discretion decide to carry out the instructions notwithstanding the inadequacy of funds without prior approval from or notice to me and I shall be liable to repay with interest the resulting advance, overdraft or credit thereby created and all related charges arising thereby at prime lending rate applicable from time to time.

I agree that frequent declined transaction or refunds and chargebacks may lead to discontinuation of the merchant account and suspension of further settlements.

I agree that in the event of the merchant account being overdrawn, PPay Inc. reserves the right to set off this amount against any credit lying in any of my reserve accounts.

I agree that the transactions conducted by me at the BC shall be reflected in PPay Inc.’s books latest by the next working day.

I agree that PPay Inc. shall not be liable for any damages, losses (direct or indirect) whatsoever, due to disruption or non-availability of any of the payment services/facilities due to any fault/error or any failure in the credit card processing network or any closure or suspension of any acquirer account held by PPay Inc., beyond the control of PPay Inc.

I agree that PPay Inc. may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of:

For participation in any telecommunication or electronic clearing network
In compliance with a legal directive
For credit rating by recognized credit rating agencies
For fraud prevention purposes
To credit information bureaus.

I give consent to PPay Inc. to disclose information provided in the merchant account opening form for the purpose of cross selling by PPay Inc. and any other marketing agent/s and/or contractors with whom PPay Inc. enters, or has entered into any arrangement, in connection with providing of services/products, including without limitation, cross selling of various financial products. PPay Inc. will have to always check before any cross-sell attempt whether or not I have registered for ‘Do Not Call’ facility.

Disclosure of Information

I understand that as a pre-condition, relating to grant of the loans/ advances/ other fund-based and non-fund-based credit facilities to me, PPay Inc., requires my consent for the disclosure by PPay Inc. of information and data relating to me, of the credit facility availed of/to be availed, by me, obligations assumed/ to be assumed, by me, in relation thereto and default, if any, committed by me, in discharge thereof. Accordingly, I hereby agree and give consent for the disclosure by PPay Inc. of all or any such, information and data relating to me or, the information or data relating to any credit facility availed of/ to be availed, by me, and the default, if any, committed by me in discharge of my such obligation, as PPay Inc. may deem appropriate and necessary, to disclose and furnish to any credit reporting entity and any other agency authorized in this behalf by me, declare that the information and data furnished by me to PPay Inc. are true and correct.

I, undertake that:

The credit reporting entity and any other agency so authorized may use, process the said information and data disclosed by PPay Inc. in the manner as deemed fit by them; and

The credit reporting agency and any other agency so authorised may furnish for consideration, the processed information and data or products thereof prepared by them, to Company’s/ financial institutions and other credit grantors or registered users, as may be specified by the Company in this behalf.

Force Majeure:

PPay Inc. shall not be liable if any transaction does not fructify or may not be completed or for any failure on part of PPay Inc. to perform any of its obligations under these Terms and Conditions 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.

“Force Majeure Event” means any event due to any cause beyond the reasonable control of PPay Inc., 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, non-payment of any sales proceeds generated by the sale of my goods and services, etc.


I agree that I shall indemnify and hold PPay Inc. harmless against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses whatsoever which PPay Inc. may at any time incur, sustain, suffer or be put to as a consequence of or by reason of, or arising out of providing any of the services, or due to any negligence/mistake/misconduct by any third party and/or caused on my part, or breach, or non-compliance by me or any other third party, of any of the Terms and Conditions relating to any of the services, or by reason of PPay Inc. in good faith, taking or refusing to take action on any instruction given by me.

Right of Lien/Set off:

I hereby grant and confirm the existence of the right of lien and set-off with PPay Inc., which PPay Inc. may at any time, without prejudice to any of its specific rights under any other agreements with me, at its sole discretion and without notice to me utilize to appropriate any moneys belonging to me and lying/deposited with PPay Inc. or due by PPay Inc. to me, towards any of PPay Inc.’s dues and outstanding’s under or in respect of a loan facility, Including any legal fees/charges/fees/dues payable under these Terms and Conditions.


Failure to enforce any rights conferred by these Terms and Conditions or any law shall not be deemed to be a waiver of any such rights or operate so as to the exercise or enforcement thereof at any subsequent time.

Governing Law:

All claims, matters and disputes are subject to the exclusive jurisdiction of the competent courts in Canada only. These Terms and Conditions and/or the operations in the merchant accounts of the customer maintained by PPay Inc. and/or the use of the services provided by PPay Inc. shall be governed by the laws of the Canada and no other nation. The customer and PPay Inc. agree to submit to the exclusive Jurisdiction of the Courts located in Toronto, Ontario, Canada as regards any claims or matters arising under these Terms and Conditions. PPay Inc. accepts no liability whatsoever, direct or indirect, for non-compliance with the laws of any country other than the country of Canada.

Should I have any complaint relating to the features of any of the products/services of PPay Inc. that I hold/avail of, I am aware that I can approach the Grievance Redresser Officer within PPay Inc. at www.ppayinc.com for a resolution and if I do not get a satisfactory response within 90 days of lodging the complaint, then, under Canadian Ombudsman Scheme, I can approach the Ombudsman appointed by PPay Inc., who is in charge of the region where I hold my account. Details of which are available at www.ppayinc.com

In case there are no transactions initiated by me / us in the merchant account for a continuous period of 7 days,

I / We agree that the account would be treated as a ‘Dormant’ Merchant Account by PPay Inc.

I/We agree that the account status would change to ‘Active’ only on my/our (all joint holders) written instruction in this regard.

I/We understand that until the account status is ‘Dormant’, merchant account transactions may not be allowed by PPay Inc.

I/We agree that, in case I/we have issued single instruction, for debit to my/our merchant account, for issuing more than one Demand Draft/Pay-order, then the same will reflect as multiple debit entries in my/our merchant account, Company 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, including collections, recovery of dues, enforcement of security, getting or verifying any information of the customer/assets, and any necessary or incidental lawful acts/deeds/matters and things connected thereto, as PPay Inc. may deem fit.

PPay Inc. shall have the right to not return the application, the photographs, information and documents submitted by the customer. PPay Inc. shall, without notice to or without any consent of the customer, be absolutely entitled and have full right, power and authority to make disclosure of any information relating to customer including personal information, details in relation to documents, products/services offered, defaults, security, obligations of customer, to the Credit Information Bureau of  Canada and/or any other governmental/regulatory/statutory or private agency/entity, credit bureau, PPay Inc.’s other branches/subsidiaries/affiliates/rating agencies, service providers, other Company’s/financial institutions, any third parties, any assignee/potential assignee of transferee, who may need the information and may process the information, publish in such manner and through such medium as may be deemed necessary by the publisher/Company, including publishing the name as part of willful defaulter’s list from time to time, as also use for KYC information verification, credit risk analysis, or for other related purposes. In this connection, the customer waives the privilege of privacy and privacy of contract. PPay Inc. shall have the right, without notice to or without any consent of the customer, to approach, make enquirers, obtain information, from any person including other Company’s/finance entities/credit bureaus, customer’s employer/family members, any other person related to the customer, to obtain any information for assessing track record, credit risk, or for establishing contact with the customer or for the purpose of recovery of dues from the customer.

In case any personal information or sensitive information is collected by PPay Inc., the same shall be dealt with in accordance with the privacy policy of PPay Inc. which is available on the website of PPay Inc. at www.PPayInc.com.

Company reserves the right to record telephonic conversations with customers for quality control purposes.

Notwithstanding the documentation and merchant account opening form provided, PPay Inc. reserves the right to accept / reject your application. PPay Inc.’s decision in this regard would be final.

Any facilities, other accompanying products, may be made available through the internet platform or any similar platform of PPay Inc. (platforms through which the customer/borrower can access/monitor the merchant account by use of the customer/log-in id and password) and PPay Inc. may use such platform for providing the customers the facility to complete online application as well as enter into/make the loan documents online. Every usage and operation of the internet or any such other platform using such customer id and password, including in cases of online application processes from time to time, 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 PPay Inc. shall not be required to check the identity of the person operating the internet account at any point of time or his mental or physical stability.

I hereby give my consent to PPAY INC., to obtain my Identification number, Name and Fingerprint/Iris for authentication with OTHERS.

PPAY INC. Company has informed me that my identity information would only be used for KYC and also informed that my bio metrics will not be stored / shared and will be submitted to the system only for the purpose of authentication.

I submit my Identification number and voluntarily give my consent to:

Use my Identification details to authenticate me from others.

Use my mobile number registered in Company records for sending

SMS alerts to me.

I have been given to understand that my information submitted to PPay Inc. herewith shall not be used for any purpose other than mentioned above, or as per requirements of law.