BBPS Terms & Conditions

 

This BBPS Terms & Conditions (“Product Terms”) is in relation to the PAN verification as Financial Products as per the Marketplace Terms executed between Signzy Technologies Private Limited, a company incorporated under the CompaniesAct 2013, having its corporate office at: Awfis, 8th Floor, One International Center (Tower 1), Senapati Bapat Marg, Lower Parel, Mumbai, 400013 (“Signzy”) and me (an individual) / us (a company/ Trust/ LLP/ Partnership/ Sole Proprietorship (“Subscriber”). The Subscriber and Signzy may individually be referred to as “Party” and collectively as “Parties”. The Product Terms hereunder shall be deemed to be a part of the Marketplace Terms and shall be legally valid and enforceable rights/ duties/ obligations of each Party. The following terms and conditions would be applicable on the BBPS APIs API as Financial Product, which the Subscriber has agrees to comply at all times-

  • DEFINITIONS
    1. “Advance Deposit” shall mean interest free, refundable funds provided by Subscriberto Signzy/ its Financial Partner.
    2. “Agent Institution” shall mean entities on-boarded by BBPOU to facilitate collection of Bill payments from Consumers
    3. BBPCU” means NPCI, a company incorporated in India under Section 25 of the Companies Act, 1956 having been authorized and entrusted under Payment and Settlement Systems Act 2007 as ‘Bharat Bill Payment Central Unit’
    4. BBPS” herein refers to as the Bharat Bill Payment System which is an integrated bill payment system offering interoperable and accessible bill payment services with a single brand image enabling multiple payment modes.
    5. Bill” shall mean the amount paid by the Consumer to Subscriberfor Bill Payment (hereinafter defined), which will include convenience/service charge and all other taxes, duties, costs, charges, expenses (if any);
    6. “Bill Payment” shall mean the bill paid by the Consumer, wholly or in part for the utility services provided by the Merchant.
    7. Consumer” shall mean a Consumer making payment to theMerchantfor the utility services being provided by the Merchant. The term “Consumer” and Consumer” shall be used interchangeably for the purposes of this terms;
    8. Consumer Billing System” shall mean the system provided by Merchant detailing the Consumer Bill, identification of Consumer/Bill, Consumer Billing Account details, Service usage, details of manner and amount of the Consumer’s Bill, etc;
    9. Nodal Account” shall mean the nodal bank account held by Signzy with any of the bank for the purpose of facilitating online payments with respect to RBI notification dated 24 November, 2009 or other applicable regulations/ guidelines;
    10. Merchant” shall mean the merchant providing services to the Consumer.
    11. Merchant Account(s)” shall mean the bank account(s) maintained by Merchant, which the Merchant designates for settlement of the Payments from the Nodal Account/ Sponsor Bank as the case may be
    12. Payment Mechanism” shall mean the payment mechanism through the internet utilizing the net banking facilities of various acquiring banks, Sponsor Bank, card payment systems and through such other modes and mechanisms of payment and delivery as may be notified by Signzy/ its Financial Partner from time to time.
    13. Financial Partner Account” shall mean an account opened by Merchant with Signzy/ its Financial Partner for collection of Bill payment.
    14. BBPS Services” shall mean services provided by Signzy/its Financial Partner to Merchant/Consumer, as specified hereunder.
    15. “RBI Guidelines” herein refers to Implementation of Bharat Bill Payment System (BBPS) – Guidelines dated November, 28th 2014, including all amendments, additional circulars as the case may be.
    16. “Registration Documents” shall have the meaning ascribed in the terms and conditions hereunder;
    17. “Sponsor Bank” herein means the Bank as designated by Signzy’s BBPOU from time to time, which shall be responsible for processing and settlement of Off-Us Bill.
    18. “Sponsor Account” herein shall mean the sponsor bank account held by Signzy/ its Financial Partners’ BBPOU with any of the bank for the purpose of processing and settlement of Off-Us Bill
    19. Transaction“shall mean every order/request placed by Consumer on Webfront, for making payment for Bill to Merchant;
    20. Webfront” shall mean the website or mobile applicable;
  • SCOPE OF SERVICES
    • Signzy has collaborated with registered Agent Institution i.e. a member of BBPS by the NPCI, which provides platform to enable various merchants to collect bill payments for a specified purpose from its Customers (hereinafter defined). Through its collaboration with registered Agent Institution, Signzy has agreed to provide BBPS Services (hereinafter defined) of its Financial Partner, via its Subscribersto facilitate collection of Bill payments from Consumers through an efficient and easily accessible payment collection solution provided by Signzy/ its Financial Partner and as more clearly described in this Product Terms.
    • The Subscribershall be on-boarded by the Financial Partner of Signzy. Signzy/ its Financial Partnershall register the Subscribers on the BBPS Platform and open a Financial Partner Account for the Subscriber.
    • Subscribershall ensure that all Consumers are properly directed to the Signzy/ its Financial Partner
    • Signzyshall provide access of Consumer Billing System through APIs and any other details such as billing amount, Consumer account to the Subscriber.
    • Subscribershall fill in the requisite information and initiate payment transaction for Bill.In case of any sensitive personal information, the Consumer shall fill in such details and the Subscribershall not ask the Consumer for such details.
    • The Subscribershall provide one or more of the following payment options to the Consumer:
      • Cash: The Consumer shall pay the Bill to the Subscriberin cash and Subscribershall provide a receipt of payment of such Bill to the Consumer.
      • Point of Sale Machine (POS) – The Consumer shall pay the Bill to the Subscriberthrough POS and Subscribershall provide a receipt of payment of such Bill to the Consumer.
      • Link based payment – The Consumer shall pay the bill to the Subscriberthrough the link based payment mechanism on the Software Application.
  • DIRECTIONS AND AUTHORIZATION WITH RESPECT TO REGISTRATION
    • The Subscribershall assist Signzy/ its Financial Partner in the registration process and provide all such documents (“Registration Documents”) requested by Signzy/its Financial Partnerfor registration of the Subscriberand each SubscriberAccount with Signzy/its Financial Partner.
    • Subscribershall have the sole responsibility to provide the Registration Documents for Subscriberand provide the list of eachsub-agent institution so appointed(“Sub-Agent”) to Signzy. The Subscriberacknowledges and understands that Signzywill not be able to and shall not be liable for transfer of Fees the SubscriberAccount(s) if Subscriberdoes not provide the requisite Registration Documents and consequently who are not registered with Signzy, its Financial Partnerand BBPOU. The registration is subject to approval of Signzy.
  • PAYMENTS AND SETTLEMENT
    • For each Bill payment by the Customer, the Subscribershall send the details to Signzy/its Financial Partnerin the format prescribed by Signzy/ Financial Partnerfrom time to time.
    • Further, the Subscribershall maintain an Advance Deposit with Signzy/its Financial Partnerfor the purpose of settlement to Signzy/its Financial Partnerunder this Product Terms. Upon receipt of such information by Signzy/its Financial Partner, Signzy/its Financial Partnershall debit the Advance Deposit accordingly.
    • Signzyshall require the Subscriberto replenish such Advance Deposit from time to time as per Signzy’s requirements. If the Subscriberfails to provide Signzywith such replenished amounts as required within two (2) days of receipt of notice for the same, Signzyreserves the right to suspend and/or terminate the Fee payable to the Subscriberor the SignzyServices without further notice.
    • In case the Advance Deposit falls below 20% of the amount required to cover the Subscriber’s Outstanding Amount, Signzy shall forthwith stop its BBPS services being provided to the Subscriberuntil the Advance Deposit is replenished to the amount as may be required by Signzy/ its Financial Partner, Provided that the above right of Signzy/its Financial Partnerto appropriate the Reserve and set-off the Outstanding Amount shall be in addition to and reserving fully the right of Signzy/ its Financial Partnerto recover all such losses, costs and damages etc from Subscriberby any other means, which may be available to Signzy/its Financial Partnerunder applicable laws.
    • Subscriberunderstands and acknowledges that Signzy/its Financial Partnerwill settle the Payments to Merchant Account only upon actual receipt of Payments in Nodal Account/ Sponsor Account as the case may be.
  • Fees
    • The Fees payable by the Subscriber to Signzy, is more particularly provided in Schedule-I hereto.
    • TRANSACTION
      • In the event, the Subscriberuses the internet payment gateway provided by Signzyand/or Cash, the Subscribershall confirm the Transaction upon receipt of Transaction Confirmation from Signzy. The Subscriberacknowledges that Signzyshall give confirmation only upon receiving confirmation with respect to Authentication and Authorization of such Transaction (Consumer’s Account being debited or charged) from the Acquiring Bank and/or Sponsor Bank (“Transaction Confirmation“). Signzyshall not be responsible for any Transaction that has not been confirmed with Signzy/ its Financial Partnerby the Acquiring Banks and/or Sponsor Bank.
      • In the event, the Subscriberuses the internet payment gateway not provided by Signzy/ its Financial Partnerand/or in cash, the Subscribershall confirm the Transaction upon receipt of Transaction Confirmation from such other internet payment gateway. Once such Transaction Confirmation is received, Signzy/ its Financial Partnershall debit such amount from the Reserve Amount irrespective of whether Subscriberhas received the Transaction Amount or not.
      • Subscribershall assist the Signzy/ its Financial Partnerto redress any Consumer complaints.RBI/ BBPCU may frame guidelines for Consumer grievance redressal which shall be binding on all Parties.
    • COVENANTS OF SUBSCRIBER:
      • The Subscriberhereby declares, assures, undertakes and covenants as under:
        • The Subscribershall be solely liable for accuracy and quality of the Services.
        • The Subscribershall comply with all ApplicableLaws, RBI Guidelines and otherguidelines by BBPOU & BBPCU. Signzyshall have the right to forthwith terminate this Product Terms, in case of breach of this clause.
        • The Subscribershall be responsible for maintaining the confidentiality of its Financial Partner Account and Consumer Billing System and are fully responsible for all activities that occur under its Financial Partner Account and the Consumer Billing System. The Subscriberagrees to immediately notify Signzyof any unauthorized use or incorrect information on its Financial Partner Account, Consumer Billing System or any other breach of security.
        • Ifany Consumer complaints or is dissatisfied with any Services or the Consumer Billing System contains incorrect/outdated information, the Subscribershall take such measures as may be required to resolve the same at its sole cost and expenses.
        • The Subscribershall be solely responsible for the accuracy of all information and/or validity of the prices and any other charges and/or other information relating to the Bill, Consumers and Services.
        • The Subscribershall provide Customer support to Customers during business hours and BusinessDays. Such support shall include appropriate notice to Consumers of means of contacting the Subscriberin the event the Consumer has questions/queries regarding the nature or quality of Services, billing account/amount and the procedures for resolving disputes.
        • The Subscribershall not require the Consumers to provide the Subscriberwith any details of the accounts held by it with the issuing institution. The Subscribershall not input any data on behalf of the Consumers on the Website/Webfront or the Acquiring Bank, failing which it will be considered as breach of trust of Signzyand/or of the Acquiring Bank.
        • The Subscribershall make the Consumer aware aboutactual realization/ settlement cycle for the bills to be paid. Further, the Subscribershall make the Consumer aware about extra service charges / fees, if any, which Consumer may have to pay for bill payments. Such charges shall not exceed the maximum amount prescribed by BBPOU.
        • The Subscribershall provide receipt to the Consumer for Bill payment.
        • The Subscribershall provide all necessary support to the Consumer and Signzy/ its Financial Partneras may be required.
        • The Subscribershall ensure security of its Webfront.
        • The Subscribershall ensure accuracy of the Bill information being provided to Signzyand the Subscribershall be solely liable in this regard
  • PROMOTION AND MARKETING
    • Subscribershall ensure that Bharat BillPay logo or trademark will be prominently displayed by the Subscriber, as per the guidelines laid down by BBPCU to identify the bank branches/outlets/agents as Bharat BillPay enabled service point.
  • INSPECTION
    • Subscribershall be solely responsible for maintainingrecords of all Transactions/ other dataand reconciling all Transaction information.Subscribershall maintain records as may be specified by Signzy, its Financial Partnerand/or Sponsor Bank. Signzyand/or Sponsor Bank shall be entitled to audit records/ perform physical inspection of the Subscriberto ensure compliance with obligations under this Product Terms.
  • INTELLECTUAL PROPERTY RIGHTS
    • SubscriberherebygranttoSignzy and its Financial Partnersanon-exclusive,royalty-free, limitedlicensetouse,displayandreproducethe name, brand name, trademarksandlogosofSubscriberformarketing of Signzy/ its Financial Partnerfacilities and BBPS ServiceSignzymay request Subscriberto display at their Business location and/or online marketing materials, astatement/logo/image provided by Signzy/ its financial Partnerrelating to the BBPS Services.
  • VARIATIONS TO SERVICES
    • Signzy reserves the right to make changes, enhancements, and/or modifications to the BBPS Services including, without limitation, the development of updates, patches, upgrades and/or the procurement of new releases of any software or any changes in its Payment Mechanism.Signzy/ its Financial Partnershall be entitled to use hardware, software and/or such other equipment as it deems necessary or appropriate for the provision of the BBPS Services and the Subscriberand the Consumer agree to comply with the directions and/or instructions issued by Signzy in respect of the use of such hardware, software and/or equipment. The specifications of the BBPS Services may have to be changed with changes in law.
  • DISCLAIMER
    • Subscriberacknowledges that Signzy, its Financial Partnerand the Sponsor Bank Services may not be uninterrupted and Signzy, its Financial Partnerand the Sponsor Bank disclaim all warranties, express or implied, written or oral, including but not limited to warranties of merchantability and fitness of the BBPS Services for a particular purpose. The Subscriberalso acknowledges that the arrangement between one or more Sponsor Bank and Signzy/ its Financial Partnermay terminate at any time and services by such Sponsor Bank may be withdrawn. Signzyshall not be liable to Subscriberfor any loss or damage whatsoever or howsoever caused or arising, directly or indirectly, including without limitation, as a result of loss of data; interruption or stoppage to the Consumer’s access to and/or use of the Webfrontand services and the Payment Mechanism; interruption or stoppage of Signzy/ its Financial PartnerSite; non-availability of connectivity between the Webfrontand Signzy/its Financial PartnerSite, etc.
    • Signzy’s sole obligation and Subscriber’s sole and exclusive remedy in the event of interruption in Signzy/ its Financial PartnerSite, or loss of use and/or access to Signzy/ its Financial PartnerSite, the Sponsor Bank Services the Payment Mechanism and services, shall be to use all reasonable endeavors to restore the Services and/or access to the Payment Mechanism as soon as reasonably possible.
    • Signzy, and/or Sponsor Bank obligations under this Product Terms are subject to following limitations:
      • Messages that originate from the cardholder are deemed to be authorized by the cardholder and Signzy/ its Financial Partner shall not be required to check its veracity and Signzyshall not be liable for processing such messages.
      • Signzy, its Financial Partnerand/or Sponsor Bank are not responsible for the security of data residing on the server of the Subscriberor a third party designated by the Subscriber(e.g., a host) or on the server of a cardholder or a third party designated by a Merchant/cardholder (e.g., a host).
      • Signzy, its Financial Partnerand/or Sponsor Bank shall have no liability for any failure or delay in performing its obligations if such failure or delay: (a) is caused by the Subscriber’s acts or omissions; (b) results from actions taken by Signzy, its Financial Partneror Sponsor Bank in a reasonable good faith to avoid violating Applicable Laws; or (c) is caused by circumstances beyond Signzy/its Financial Partnercontrol.
  • RELATIONSHIP BETWEEN THE PARTIES
    • Signzy and/or its Financial Partner has no connection or interest of whatsoever nature in the business of Subscriberor the services offered / marketed by Merchant. Signzy does not in any manner take part in the business of Merchant, directly or indirectly. Signzy shall only provide Services to Merchant, the Consumers and the Sponsor Bank, as an Independent entity and under the terms and conditions of this Product Terms.

Schedule-I

Fees

BBPS Commercials
S. No Category Rate  (per API hit in INR)

 

1Electricity1.60
2Gas-Piped line1.60
3LPG Gas1.60
4 Water1.60
5Municipal Taxes &Transaction Value <= 50001.60
ServicesTransaction Value > 50003.20
6Mobile Postpaid/ Landline Postpaid1.65
7Broadband/ Datacard1.65
8Cable1.65
9DTHTata Sky0.5%
Sun Direct2.00%
Airtel0.30%
Videocon D2H0.90%
Dish TV0.90%
10FASTag Recharge0.10%
11Loan Repayment2.5
12Recurring Deposit2.5
13Credit Card3
14Mutual Fund3
15InsuranceTransaction Value <= 50003.50
Transaction Value > 50005.00
16Housing SocietyTransaction Value <=10,0001.00
Transaction Value >10,000 to

49,999

2.50
Transaction Value >=50,0006.00
17Educational Fees (School/College/Pvt.Transaction Value <=10,0001.00
Institutions etc.)Transaction Value >10,000 to

49,999

2.50
Transaction Value >=50,0006.00
18Hospital & PathologyTransaction Value <=10,0001.00
Transaction Value >10,000 to

49,999

4.00
Transaction Value >=50,0006.00
19Clubs & AssociationsTransaction Value <=10,0001.00
Transaction Value >10,000 to

49,999

2.00
Transaction Value >=50,0006.00
20 RentalTransaction Value <=10,0001.00
Transaction Value >10,000 to

49,999

2.00
Transaction Value >=50,0006.00
21 Metro Recharge0.10%
22 Subscription Fees Digital,OTT,

Offline and other billers of similar nature

0.20%