These Terms constitute a legally binding agreement between Pay777 Limited ("Pay777," "we," "us") and you ("Merchant," "User") regarding our payment processing and financial transaction services. By accessing or using Pay777’s services, you confirm that: You have read, understood, and accepted these Terms. You agree to comply with all applicable laws and regulations, including RBI guidelines. You consent to Pay777’s Privacy Policy.
To use Pay777’s services, Merchants must: Complete the registration process with valid business details, including GSTIN, banking details, and business registration documents. Submit KYC (Know Your Customer) documentation as required by RBI and other regulatory authorities. Complete compliance verification within 90 days of onboarding. Failure to comply will result in automatic account cancellation. Pay a reactivation fee of INR 10,000 if their account is deactivated due to non-compliance. Notify Pay777 at least 30 days in advance of any change in ownership, business structure, or key personnel. Ensure that all employees follow Pay777’s compliance policies.
Each Merchant is assigned a Merchant ID (PSPID) for transaction processing. Transaction Authorization: Merchants must obtain proper authorization before processing any payment. Pay777 reserves the right to reject, hold, or refund transactions that appear fraudulent, unauthorized, or non-compliant. Settlement Process: Payments are settled after deducting applicable fees as per the agreed financial terms. Suspicious or Unauthorized Transactions: Pay777 may withhold payments if transactions are flagged as suspicious or fraudulent.
Refunds must be initiated through Pay777’s platform. Refund requests must include a valid credit slip or refund process document. Merchants must not issue cash refunds directly to customers. If there is a currency exchange difference in a refund, it will be adjusted from the Merchant’s account.
If a customer disputes a charge, Pay777 reserves the right to debit the Merchant’s account. If the dispute is unresolved within 14 days, Pay777 may refund the customer automatically. Chargebacks for unauthorized transactions will be the Merchant’s responsibility.
Pay777 may reject or withhold payments if: Transactions are fraudulent, incomplete, unauthorized, or suspicious. Payment authorization was not properly obtained. The Merchant’s business is flagged for non-compliance. A transaction is flagged as a “Suspect Charge” during Pay777’s fraud detection. Investigations into suspicious transactions may take up to 30 days, depending on Payment Method Provider guidelines.
The Merchant Agreement is valid for 24 months and renews automatically unless terminated. High-Risk Termination Criteria: Pay777 may terminate services if:
Merchants must only process orders from legitimate customers and avoid unauthorized transactions. Pay777 prohibits processing payments for third parties. Merchants cannot use Pay777 to re-finance existing debt. Merchants must not impose transaction limits or restrictions on specific payment methods unless explicitly approved by Pay777.
Merchants must provide customer support, including:
Merchants must resolve customer disputes directly. Pay777 may intervene if disputes remain unresolved within a reasonable period.
Merchants must comply with PCI DSS (Payment Card Industry Data Security Standards). Any security breach must be reported immediately to Pay777. Pay777 may require Merchants to update their security policies to remain compliant with financial regulations. Pay777 reserves the right to suspend or terminate services if a Merchant fails to meet security standards.
Pay777 reserves the right to modify these Terms at any time. Changes will be communicated via email or platform notifications. Merchants are encouraged to review the Terms regularly to stay updated.
The parties agree that there are no deviations from these Terms & Conditions. Any modifications or additions to this Agreement shall only be valid if made in writing and signed by an authorized representative of both parties. Such modifications or additions will apply only to the specific contract for which they were agreed and shall not constitute a general amendment to these Terms & Conditions.
These Terms are governed by the laws of India, and any disputes arising out of these Terms shall be subject to the exclusive jurisdiction of the courts in India.
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