Binding SaaS & Payment Monitoring Contract:
These Terms & Conditions constitute a legally binding electronic agreement under the Information Technology Act, 2000. SMB UPI operates strictly as payment monitoring and verification software without financial custody of customer funds.
1. Binding Agreement & Acceptance of Terms
These Terms and Conditions (“Agreement”) constitute an electronic contract formulated in strict accordance with the provisions of the Information Technology Act, 2000, the rules framed thereunder, and the amended provisions pertaining to electronic records. By registering, integrating API keys, configuring webhooks, or accessing smbupi.com, you (“Merchant”) unconditionally agree to every clause contained herein.
2. Service Model: Payment Monitoring & Verification Software
SMB UPI operates purely as a software-as-a-service (SaaS) provider for payment monitoring, automated transaction verification, and status reconciliation. Under this architecture:
- Direct-to-Merchant Funds Flow: All customer payments made via UPI QR, Intent, or Net Banking flow directly from the payer’s banking institution into the Merchant’s own connected bank account or merchant aggregator account.
- Zero Financial Custody: SMB UPI is NOT a Bank, NBFC, Payment Aggregator, or Payment Gateway Custodian under the Payment and Settlement Systems Act, 2007 (PSS Act). SMB UPI does not hold, escrow, pool, deposit, or settle customer funds.
- Software Verification Intermediary: SMB UPI provides technical API orchestration, dynamic QR generation, transaction status verification, automated webhooks, and merchant dashboard analytics without independently holding customer payment funds.
3. Zero-Tolerance Anti-Fraud & Prohibited Businesses
SMB UPI enforces a strict Zero-Tolerance Policy against financial crime, unauthorized betting, illegal gaming, phishing, and fraudulent activities. Prohibited categories include online gambling, satta, matka, unregulated sports betting, real-money wagering without statutory license, multi-level marketing (MLM) pyramid schemes, unlicensed crypto pools, narcotics, counterfeit items, and hawala operations.
Violators face immediate credential termination, forfeiture of unused prepaid wallet balance, and formal referral to State Police Cyber Cells and the National Cyber Crime Reporting Portal (cybercrime.gov.in).
4. Merchant Due Diligence & KYC Verification Fee (₹14.99)
To prevent malicious usage and adhere to regulatory standards, all merchants must undergo mandatory electronic Know Your Customer (eKYC) compliance verification before being granted commercial transaction routing permissions:
- PAN Card Verification: Real-time validation of business or personal Permanent Account Number issued by the Income Tax Department of India.
- DigiLocker Aadhaar Verification: Identity verification executed via authorized DigiLocker API gateways with demographic validation.
- ₹14.99 SMB UPI KYC Verification Service Fee: Initiating identity verification requires an upfront service deduction of ₹14.99 directly from the merchant’s wallet balance. This fee is SMB UPI’s own service fee for processing identity verification, facilitating document checks, and maintaining verification infrastructure. It is not an official government fee. The fee is strictly non-refundable once the verification attempt is initiated, regardless of outcome.
- Live Video KYC (V-KYC): Merchants must complete recorded Live Video KYC with our compliance desk within 7 days of application when requested.
- 8-Month Internal Retention Policy: Eligible verification records, document validation timestamps, and merchant verification statuses are retained for eight (8) months from verification completion under SMB UPI’s internal risk management and recordkeeping policy.
5. Internal Prepaid Service Wallet (Strictly Non-Withdrawable)
The SMB UPI platform provides an internal Merchant Wallet facility strictly designed as a closed-system prepaid service credit mechanism. Its sole function is to enable merchants to pay for internal platform services, including subscription renewals, API usage, the ₹14.99 KYC verification fee, SoundBox add-ons, and payment themes.
- Prepaid platform credits are NOT customer payment settlement funds.
- Wallet balances cannot be withdrawn to a bank account, transferred to third parties, or cashed out under any circumstance.
- Wallet top-ups are final and non-refundable once credited.
6. SoundBox Payment Notification Feature
Where supported and included in the Merchant’s active subscription plan, SMB UPI provides SoundBox audio notification features as a payment notification convenience tool. It does not constitute banking certification, settlement confirmation, or an independent guarantee that funds have been irrevocably settled. Merchants remain solely responsible for verifying payment receipts through their primary bank accounts or authorized payment provider dashboards before delivering goods or services.
7. Subscription Plans, Quotas & No-Refund Policy
All subscription fee payments for tier-based infrastructure plans are strictly non-refundable once resources are provisioned. Monthly plans renew every 30 days unless canceled by the merchant prior to expiration.
8. Direct Settlement & Disclaimer of Merchandise
SMB UPI does not produce, inspect, store, endorse, or guarantee any products, software, digital services, or physical merchandise sold by merchants using our technology. The merchant assumes 100% legal, commercial, and tax liability for goods and services sold.
9. Customer Disputes & Refunds
Merchants are strictly required to operate transparent customer support and resolve payment disputes. In the event of bank chargebacks, UTR recall notices, or cyber cell inquiries, SMB UPI reserves the right to freeze API access pending investigation.
10. Suspension & Termination Rights
SMB UPI reserves the unconditional right to suspend or terminate accounts immediately upon violation of terms, fraudulent submission of KYC documents, malicious API exploitation, or receipt of judicial directives.
11. System SLA & Banking Outages
While SMB UPI targets a 99.98% system uptime SLA, merchants acknowledge that UPI payments rely upon third-party banking networks, NPCI switches, telecom carriers, and downstream aggregator APIs. SMB UPI is not liable for banking server downtimes or external network disruptions.
12. Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, SMB UPI AND ITS OPERATORS SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES. AGGREGATE LIABILITY SHALL BE STRICTLY LIMITED TO THE SUBSCRIPTION FEE PAID IN THE PRECEDING MONTH OR ₹1,000 INR, WHICHEVER IS LOWER.
13. Merchant Indemnification
The Merchant agrees to indemnify and hold completely harmless SMB UPI, its founders, and affiliates from all claims, fines, damages, penalties, and legal expenses arising from the merchant’s breach of law, consumer disputes, or fraudulent operations.
14. Law Enforcement & Regulatory Cooperation
SMB UPI fully cooperates with Indian Law Enforcement Agencies, Police Cyber Cells, and Judicial Courts pursuant to lawful notices issued under Section 91 CrPC or Information Technology Act provisions.
15. Governing Law & Grievance Redressal
This Agreement is governed by the laws of India. For grievances, contact our Grievance Officer at social.media.bazar.in@gmail.com. Grievances are acknowledged within 48 hours and addressed within statutory timelines.
Data Privacy & 8-Month Retention Framework:
SMB UPI protects merchant and transaction metadata in strict compliance with the Information Technology Act, 2000 and UIDAI guidelines.
1. Commitment to Privacy & Regulatory Framework
SMB UPI (“we”, “our”, or “smbupi.com”) is dedicated to maintaining the confidentiality, integrity, and security of all personal and commercial data entrusted to us. This Privacy Policy details our governance practices under the Information Technology Act, 2000, the SPDI Rules 2011, and UIDAI retention standards.
2. Information We Collect
- Merchant Identity Data: Full name, registered phone number, email, company/trading name, business nature, and website URL.
- KYC Documents & Verification Records: PAN card number, DigiLocker demographic verification data (masked UID token, verified name, DOB, address, and verification timestamp), and Live Video KYC records. Full 12-digit Aadhaar numbers and biometric secrets are NEVER stored on our servers.
- Transaction Metadata: Merchant Order IDs, amounts, bank UTR numbers, payment status, and buyer UPI handles when transmitted by banking switches.
- Internal Wallet Records: Top-up transaction timestamps, fee payment logs, and service debit records.
- Audit & Security Logs: IP addresses, browser user-agents, device fingerprints, and access timestamps for cyber defense and fraud detection.
3. 8-Month Internal KYC Retention Policy
Eligible verification records, document validation timestamps, and merchant verification statuses are retained for eight (8) months from the date of verification completion under SMB UPI’s internal risk management and recordkeeping policy. This 8-month timeframe represents SMB UPI’s own internal operational policy rather than a statutory government requirement. Retention beyond 8 months may occur where mandated by applicable law, ongoing regulatory inquiries, fraud investigations, or active chargeback dispute resolution.
4. How We Use Data
Collected information is utilized strictly to deliver payment monitoring APIs, generate dynamic QR codes, dispatch verified webhooks, enforce rate limits, and maintain audit trails required by banking and anti-fraud protocols.
5. Zero Custody of Banking Credentials
SMB UPI NEVER asks for, records, or stores sensitive consumer banking secrets such as UPI PINs, ATM Card PINs, CVV codes, Net Banking passwords, or OTPs. All payment authorizations occur entirely on the consumer’s own device within their authorized UPI apps (PhonePe, Google Pay, Paytm, CRED) or banking applications.
6. Information Sharing & Law Enforcement Disclosures
We do not sell, rent, or commercialize merchant data to third parties. We disclose relevant records exclusively to verified Indian law enforcement agencies, Police Cyber Cells, or Judicial Courts upon receipt of a lawful requisition under Section 91 CrPC or equivalent judicial order.
7. Data Security Measures
We implement industry-standard 256-bit TLS/SSL encryption in transit, strict access control policies, parameter tampering safeguards, and rate-limiting to protect all stored records.
8. Data Privacy & Grievance Redressal
For data privacy inquiries or redressal, contact our Data Governance Officer at social.media.bazar.in@gmail.com.
