Terms and Conditions

1. About VeerPay

VeerPay is a technology-driven digital payment facilitation platform that enables electronic payment processing through authorized banks, card networks, and regulated financial institutions. VeerPay acts solely as a technology service provider and intermediary and does not operate as a bank or financial institution. VeerPay does not hold customer funds except where permitted under applicable laws and contractual arrangements with regulated entities.

2. Eligibility and Merchant On boarding

To access and use the VeerPay Services, merchants must:

• Be at least eighteen (18) years of age
• Possess the legal capacity to enter into binding agreements
• Provide valid and verifiable business documentation, including but not limited to GST registration, PAN, incorporation certificates, and any other information required for underwriting, KYC, or regulatory compliance
• Use the Services strictly for lawful and authorized business purposes

VeerPay reserves the right to accept, reject, or revoke merchant onboarding at its sole discretion.

3. Account Registration and Responsibilities

Merchants are responsible for maintaining the accuracy of all information provided to VeerPay and for safeguarding their account credentials. All activities conducted through a merchant account shall be deemed authorized by the merchant.

VeerPay shall not be liable for any losses arising from unauthorized access resulting from merchant negligence or failure to maintain account security.

4. Scope of Services and Transactions

VeerPay facilitates the processing of electronic payments between merchants, customers, banking partners, and card networks. Merchants acknowledge and agree that:

• Transaction authorization and settlement are subject to approval by banks, card networks, and payment processors
• VeerPay does not guarantee uninterrupted or error-free transaction processing
• Processing times may vary due to technical, regulatory, or third-party factors

VeerPay shall not be responsible for transaction failures, delays, reversals, or charge backs caused by third-party systems, regulatory restrictions, or force majeure events.

5. Fees and Charges

VeerPay may levy service fees, transaction fees, or other charges as agreed with the merchant or disclosed prior to transaction processing. All fees are exclusive of applicable taxes unless stated otherwise and are non-refundable except as required by law.

VeerPay reserves the right to revise its fee structure with prior notices where required.

6. Compliance, KYC, and Regulatory Obligations

Merchants agree to comply with all applicable laws, rules, and regulations, including Know Your Customer (KYC), Anti-Money Laundering (AML), and counter-terrorism financing requirements.

VeerPay may request additional documentation or conduct periodic reviews to ensure continued compliance. Failure to comply may result in suspension or termination of Services.

7. Prohibited Activities

Merchants shall not use the VeerPay platform for any illegal, unauthorized, or prohibited activities, including but not limited to:

• Sale or distribution of illegal drugs, narcotics, or controlled substances
• Transactions involving weapons, arms, or prohibited ammunition
• Money laundering, terrorist financing, or fraudulent financial schemes
• Activities that violate intellectual property rights or consumer protection laws
• Any business or transaction prohibited under applicable Indian laws

VeerPay reserves the right to monitor transactions and take immediate action where prohibited activity is suspected or detected.

8. Chargeback’s, Fraud, and Risk Management

Merchants are responsible for managing customer disputes, refunds, and chargeback’s. VeerPay reserves the right to impose additional controls, with hold settlements, or suspend services in the event of excessive disputes or fraud.

Merchant accounts may be suspended or terminated immediately if:

• Fraudulent or suspicious activity is detected
• Chargeback ratios exceed acceptable industry thresholds, typically greater than one percent (1%)
• Regulatory or compliance risks are identified

Such actions may be taken without prior notice to protect the platform and comply with regulatory requirements.

9. Data Protection and Privacy

All personal and sensitive data collected by VeerPay shall be processed in accordance with its Privacy Policy, which forms an integral part of these Terms. By using the Services, merchants consent to such data collection and processing.

10. Intellectual Property Rights

All intellectual property associated with the VeerPay platform, including software, trademarks, logos, content, and designs, is owned by or licensed to VeerPay. Merchants are granted a limited, non-exclusive, non-transferable right to use the platform solely for authorized business purposes.

Unauthorized reproduction, modification, or misuse of VeerPay intellectual property is strictly prohibited.

11. Suspension and Termination

VeerPay reserves the right to suspend or terminate access to the Services, with immediate effect and without prior notice, in the event of:

• Breach of these Terms
• Fraud, excessive charge backs, or prohibited activities
• Regulatory or legal requirements
• Risk to VeerPay, its partners, or other users

Termination shall not affect accrued rights or obligations prior to termination.

12. Limitation of Liability

VeerPay acts solely as a technology service provider and shall not be liable for the quality, legality, delivery, or performance of goods or services sold by merchants using the platform.

To the maximum extent permitted by law, VeerPay shall not be liable for indirect, incidental, or consequential damages. VeePay’s aggregate liability, if any, shall be limited to the fees received for the specific transaction giving rise to the claim.

13. Indemnification

Merchants agree to indemnify and hold harmless VeerPay, its directors, employees, partners, and service providers from any claims, losses, damages, liabilities, penalties, or expenses arising out of:

• Violation of these Terms
• Misuse of the Services
• Breach of applicable laws or third-party rights

14. Force Majeure

VeerPay shall not be liable for any failure or delay in performance caused by events beyond its reasonable control, including natural disasters, acts of government, system failures, cyber incidents, or network outages.

15. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or in connection with these Terms shall be subject to the exclusive jurisdiction of the competent courts located in Lucknow, Uttar Pradesh, India.

16. Severability

If any provision of these Terms is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

17. Communication and Notices

All communications, notices, or legal correspondence relating to these Terms shall be addressed through the official contact details provided on the VeerPay website.