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Last updated: April 1, 2026 | Effective Date: April 1, 2026

1. Introduction

PaySwap Fintech Pvt. Ltd. ("PaySwap", "we", "us", or "our") is committed to protecting and respecting your privacy. This Privacy Policy explains how we collect, use, disclose, and safeguard your information when you use our services, website, or mobile application. By using PaySwap, you consent to the data practices described in this policy.

2. Information We Collect

We may collect the following categories of personal information:

• Identity Information: Full name, date of birth, gender, Aadhaar number (masked), PAN card number, photograph.
• Contact Information: Mobile number, email address, residential and business address.
• Financial Information: Bank account details, wallet balance, transaction history, UPI IDs.
• KYC Documents: Government-issued ID proofs, address proofs, and supporting documents as required by RBI guidelines.
• Device & Usage Data: IP address, device ID, browser type, operating system, pages visited, and time stamps.
• Location Data: With your consent, GPS-based location for fraud prevention purposes.

3. How We Use Your Information

• To process payments, transfers, and bill payments on your behalf.
• To verify your identity as mandated by RBI KYC norms.
• To comply with legal obligations under PMLA 2002, IT Act 2000, and RBI Master Directions.
• To detect, prevent, and investigate fraudulent activities and money laundering.
• To provide customer support and resolve disputes.
• To improve our services, develop new features, and personalize your experience.
• To send transactional communications, security alerts, and service updates.

4. Legal Basis for Processing

We process your data on the following legal bases: (a) contractual necessity — to provide the services you signed up for; (b) legal obligation — to comply with applicable laws and RBI regulations; (c) legitimate interests — fraud prevention and service improvement; and (d) consent — where explicitly provided by you.

5. Data Sharing & Disclosure

We may share your information with:

• NPCI & BBPS: For processing bill payments under the Bharat Bill Payment System.
• Banks & Payment Networks: For executing FASTag and AePS transactions.
• Regulatory Authorities: RBI, FIU-IND, income tax authorities, and law enforcement as required by law.
• Service Providers: Cloud hosting, SMS, email, and analytics partners under strict data processing agreements.
• Fraud Prevention Agencies: For screening against anti-money laundering databases.

We do not sell, rent, or trade your personal data to third parties for marketing purposes.

6. Data Retention

We retain your personal data for a minimum of 5 years as required by PMLA 2002 and RBI guidelines. Financial transaction records are retained for 10 years. You may request deletion of non-mandatory data after account closure, subject to legal retention requirements.

7. Your Rights

• Right to access your personal data we hold.
• Right to correction of inaccurate data.
• Right to restrict processing in certain circumstances.
• Right to portability of your data.
• Right to withdraw consent (where processing is based on consent).

8. Data Security

We implement industry-leading security measures including post-quantum encryption (PQC) using lattice-based cryptographic algorithms, TLS 1.3, mandatory multi-factor authentication (MFA), regular penetration testing, and role-based access control (RBAC). Our infrastructure includes continuous threat monitoring. We encourage you to use strong passwords and keep MFA enabled at all times.

9. Cookies

We use essential, functional, and analytics cookies. You can control non-essential cookies through your browser settings. Disabling cookies may limit some features.

10. Changes to This Policy

We may update this policy periodically. We will notify you via email or in-app notification of material changes. Continued use of our services after changes constitutes acceptance.

11. Contact — Data Grievance Officer

For privacy concerns or to exercise your rights, contact our Data Grievance Officer:
Email: support@payswap.in
Address: Plot 23, Sector 18, Maruti Industrial Development Area, Gurugram, Haryana 122015

Last updated: April 1, 2026

1. Acceptance of Terms

By registering for, accessing, or using PaySwap's services, you agree to be bound by these Terms and Conditions and all applicable laws and regulations. If you do not agree, please do not use our platform.

2. Eligibility

• You must be at least 18 years of age.
• You must be an Indian resident with a valid government-issued ID.
• You must complete full KYC verification as mandated by RBI.
• Your business/entity must be legally registered in India where applicable.

3. Account Registration & KYC

You agree to provide accurate, complete, and current information during registration. You are required to complete KYC verification within 30 days of registration. Failure to complete KYC will result in transaction limits and eventual account suspension per RBI guidelines. You are responsible for maintaining the confidentiality of your account credentials.

4. Permitted Use

PaySwap services may only be used for lawful purposes including domestic bill payments, mobile recharges, domestic money transfers, AePS transactions, insurance premium payments, and other services listed on our platform. You agree NOT to use our services for:

• Money laundering or any activity in violation of PMLA 2002.
• Funding terrorist activities or any unlawful purpose.
• Unauthorized access, hacking, or disruption of our systems.
• Processing cross-border transactions not permitted under FEMA.
• Circumventing RBI transaction limits or reporting requirements.

5. Transaction Limits

Transaction limits are governed by RBI Prepaid Payment Instrument (PPI) guidelines. For full-KYC accounts, the wallet can hold up to ₹2,00,000. Monthly transaction limits and per-transaction caps apply as notified. We reserve the right to modify limits in accordance with regulatory changes.

6. Commission Structure

Commission rates are displayed on our merchant portal and are subject to change with 7 days' notice. Commission is credited post successful transaction confirmation. PaySwap reserves the right to reverse commissions on fraudulent or disputed transactions.

7. Settlement Policy

Settlements are processed to your registered bank account via IMPS/NEFT. A minimum settlement amount of ₹500 applies. Fees for premature or special settlements may apply.

8. Failed Transactions & Refunds

In case of a failed transaction, the amount will be automatically reversed within 24–72 hours. Disputed transactions must be raised within 30 days. We shall not be liable for delays caused by biller or banking network issues beyond our control.

9. Suspension & Termination

We reserve the right to suspend or terminate your account immediately if: (a) you violate these Terms; (b) suspicious or fraudulent activity is detected; (c) required by regulatory authorities; (d) you provide false information during KYC.

10. Limitation of Liability

PaySwap's aggregate liability for any claim arising from use of our services shall not exceed the transaction amount in dispute. We are not liable for indirect, incidental, or consequential damages. We are not responsible for delays or failures caused by third-party billers, banks, or NPCI infrastructure.

11. Intellectual Property

All content, logos, trademarks, and software on this platform are the exclusive property of PaySwap Fintech Pvt. Ltd. and are protected under Indian intellectual property laws. Unauthorized use is strictly prohibited.

12. Governing Law & Dispute Resolution

These Terms are governed by the laws of India. Any disputes shall be first attempted to be resolved through our grievance mechanism. If unresolved, disputes shall be subject to arbitration under the Arbitration and Conciliation Act, 1996, at New Delhi. Courts in New Delhi shall have exclusive jurisdiction.

13. Amendments

We may modify these Terms at any time. Material changes will be communicated with 15 days' notice. Continued use after the notice period constitutes acceptance of the revised Terms.

14. Contact

Email: support@payswap.in | Address: Plot 23, Sector 18, Maruti Industrial Development Area, Gurugram, Haryana 122015

Last updated: April 1, 2026

1. Automatic Refunds for Failed Transactions

If a transaction fails due to a technical error, network issue, or biller downtime, the deducted amount will be automatically reversed to your PaySwap wallet within 24–72 business hours. No manual request is required for automatic reversals.

2. Successful Transaction Refunds

Once a bill payment or recharge is successfully confirmed by the biller, cancellation and refund are not possible. Please verify all details before confirming any transaction. PaySwap is not responsible for incorrect details entered by the user.

3. Wallet Top-Up Refunds

Wallet top-ups can be refunded if the amount was not utilized, subject to a processing fee of 2%. Refund requests must be submitted within 30 days of the top-up. KYC-verified users may request wallet balance withdrawal to their registered bank account after a cooling period of 24 hours.

4. Dispute Resolution Process

• Raise a dispute via the Help & Support section within 30 days of the transaction.
• Our team will acknowledge within 24 hours and resolve within 5–7 business days.
• For unresolved disputes, escalate to our support team at support@payswap.in.
• If still unresolved within 30 days, you may approach the Banking Ombudsman.

5. BBPS Dispute Policy

For BBPS transactions, disputes are handled per the NPCI-BBPS grievance mechanism. Resolution timelines are governed by NPCI guidelines (typically 5 business days for biller disputes).

6. Contact

Support Email: support@payswap.in

Our Commitment

PaySwap is committed to providing the highest level of service. In case of any grievance, we follow a structured escalation mechanism as mandated by the Reserve Bank of India.

Level 1 — Customer Support

Contact: support@payswap.in
Resolution Time: 24–48 hours for most issues.

Level 2 — Nodal Officer

If unsatisfied with Level 1 resolution, escalate to:
Nodal Officer: Mr. Sandeep Suda
Email: sandeep@payswap.in
Address: Plot 23, Sector 18, Maruti Industrial Development Area, Gurugram, Haryana 122015
Resolution Time: 5–7 business days.

Level 3 — RBI Banking Ombudsman

If your complaint remains unresolved within 30 days, you may approach the RBI's Centralised Public Grievance Redress and Monitoring System (CPGRAMS) at cms.rbi.org.in or contact the Banking Ombudsman in your region.

Applicable Regulations

• RBI Master Direction on PPIs (Updated 2023)
• Payment & Settlement Systems Act, 2007
• NPCI-BBPS Grievance Handling Guidelines
• Consumer Protection Act, 2019

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