TERMS AND CONDITIONS

Last Updated: April 30, 2025
Effective Date: April 30, 2025

These Terms and Conditions (“Terms”) govern the access to and use of SMEPay, a technology platform operated by Typof Technologies Pvt. Ltd. (“Typof”, “SMEPay”, “we”, “us”, or “our”).

By registering for, accessing, or using SMEPay and its services (“Services”), you (“User”, “Merchant”, “you”, or “your”) agree to be legally bound by these Terms. If you do not agree, you must not access or use the Services.

1. Corporate Entity

SMEPay is a product operated by:

Typof Technologies Pvt. Ltd.,
an Indian private limited company incorporated under the Companies Act, 2013,
Registered Office:
203, 2nd Floor, Bhagwat Villa, Brit Colony, Nayapalli,
Bhubaneswar, Odisha, India – 751012

2. Definitions

• Account: The registered SMEPay account created by a User.
• Partners: Regulated entities and service providers including PhonePe, Setu, Decentro, sponsor banks, and other banking or UPI ecosystem participants.
• UPI: Unified Payments Interface governed by NPCI.
• Wallet: A prepaid balance maintained solely for deduction of SMEPay service fees.
• Services: SMEPay’s technology services including QR Codes, Payment Links, Payment Pages, Product Pages, JS Widgets, dashboards, and related tools.

3. Eligibility & Account Registration

3.1 Eligibility

To use SMEPay, you must:

• Be at least 18 years of age
• Be a resident of India
• Be legally competent to contract
• Operate a lawful business permitted under applicable Indian laws and UPI guidelines

3.2 Registration & KYC

• Merchants must submit accurate, complete, and current business and KYC information.
• KYC data is shared with Partners for identity verification, AML, and regulatory compliance.
• Submission of documents does not guarantee approval or activation.
• All decisions regarding KYC approval, rejection, suspension, re-verification, or deactivation are taken by Partners and/or banks.
• Typof has no control over KYC outcomes or timelines and bears no liability for delays or rejections.

3.3 Account Security

You are solely responsible for maintaining the confidentiality of your credentials. Any activity under your Account is deemed authorized by you. You must notify support@smepay.io immediately of any unauthorized use.

4. Nature of Services & Regulatory Positioning

4.1 Role Clarification

SMEPay is a technology service provider.

• Is not a bank
• Is not a payment aggregator
• Is not a payment gateway
• Does not store customer funds
• Does not facilitate or control settlements

All UPI transactions occur directly between banks and UPI ecosystem participants, governed by NPCI and RBI regulations.

4.2 Third-Party Processing

• Authenticated, processed, settled, and disputed exclusively by Partner banks and regulated entities
• Subject to NPCI circulars, RBI regulations, and Partner terms

5. Fees & Wallet

5.1 Transaction Fees

SMEPay charges a flat fee of ₹5 (Rupees Five only) per successful UPI transaction.

Fees are exclusive of applicable taxes.

No percentage-based commission is charged on transaction value.

5.2 Wallet

• Merchants must maintain a minimum wallet balance of ₹100.
• Fees are automatically deducted from the Wallet upon successful transactions.
• Failure to maintain balance may result in service suspension.

5.3 Fee Revisions

Typof may revise fees based on regulatory, operational, or business requirements. Any changes will be notified on the platform in advance.

6. Settlements

SMEPay does not handle or guarantee settlements.

Settlements are processed directly by Partner banks and service providers.

Under normal circumstances, settlements follow a T+1 (next working day) cycle.

Settlement timelines may vary due to:

• Bank holidays
• Regulatory reviews
• Reconciliation issues
• Partner or NPCI system constraints

Typof shall not be liable for settlement delays, reversals, failures, or holds.

7. User Obligations & Prohibited Activities

Users shall:

• Comply with UPI, NPCI, RBI, IT Act 2000, and all applicable laws
• Conduct only lawful business transactions

Users shall not:

• Engage in fraud, money laundering, or prohibited activities
• Misuse UPI or SMEPay infrastructure
• Reverse-engineer, tamper with APIs, or interfere with systems
• Transmit malware, spam, or unlawful communications

8. Disputes, Refunds & Chargebacks

All disputes, refunds, reversals, and chargebacks are governed by NPCI and Partner policies.

SMEPay may assist in coordination but does not guarantee outcomes.

Merchants bear sole responsibility for customer disputes related to goods or services.

SMEPay bears no financial liability for disputes or reversals.

9. Intellectual Property

All intellectual property rights in SMEPay, including software, trademarks, branding, and documentation, belong to Typof or its licensors. Users receive a limited, non-exclusive, non-transferable license to use the Services strictly in accordance with these Terms.

10. Disclaimer of Warranties

Services are provided on an “AS IS” and “AS AVAILABLE” basis. Typof disclaims all warranties, express or implied, including merchantability, fitness for a particular purpose, and uninterrupted availability.

11. Limitation of Liability

Typof’s total aggregate liability for direct damages shall not exceed ₹1,000 or the maximum amount permitted by law, whichever is lower. Typof shall not be liable for indirect, incidental, consequential, or punitive damages.

12. Indemnification

You agree to indemnify and hold harmless Typof, its directors, officers, employees, and partners from claims, losses, penalties, or expenses arising from your breach of these Terms, regulatory violations, customer disputes, or misuse of Services.

13. Termination

13.1 By User

You may close your Account by contacting support.

13.2 By Typof

• For regulatory, compliance, or security reasons
• Upon Partner instructions
• For violations of these Terms

13.3 Post-Termination

Typof may retain transactional, KYC, and compliance data as required under applicable Indian laws, RBI/NPCI guidelines, and Partner obligations.

14. Governing Law & Jurisdiction

These Terms shall be governed by the laws of India. Courts at Delhi shall have exclusive jurisdiction.

15. Amendments

Typof may update these Terms from time to time. Continued use after updates constitutes acceptance.

16. Contact Information

Typof Technologies Pvt. Ltd. (SMEPay)
Email: support@smepay.io

Office Address:
1585/1, 3rd Floor, 20th Main Road,
Agara Village, 1st Sector,
HSR Layout, Bengaluru – 560102