Terms and Conditions

Effective Date: January 1, 2025
Welcome to FINSOVA!

Thank you for choosing Finsova Fintech Pvt Ltd (“FINSOVA,” “we,” “our,” or “us”). By accessing or using our services, you agree to comply with these terms and conditions (“Terms”). If you do not agree to these Terms, please do not use our services.

1. Definitions

1.1. “User” refers to any individual or entity using FINSOVA’s services, including Retailers, Distributors, and Channel Partners.
1.2. “Services” include Domestic Money Transfer (DMT), Aadhaar Enabled Payment System (AEPS), Bharat Bill Payment System (BBPS), mobile recharges, utility payments, and other associated services provided by FINSOVA.
1.3. “Portal” refers to the FINSOVA digital platform used for accessing our services, including our website and mobile applications.
1.4. “Retailer” refers to a User availing basic services under certain transactional limits.
1.5. “Distributor” refers to a User who manages and earns commissions from Retailers they onboard.
1.6. “Channel Partner” refers to a User with the authority to onboard Distributors, Retailers, and provide white-label solutions.

2. Eligibility

2.1. You must be at least 18 years of age to use our services.
2.2. By registering for an account, you represent and warrant that all information provided is accurate and complete.
2.3. FINSOVA reserves the right to terminate accounts or deny service to Users who provide false, incomplete, or misleading information.

3. Account Registration and Security

3.1. Users must register an account on the FINSOVA Portal to access services.
3.2. You are responsible for maintaining the confidentiality of your login credentials.
3.3. Notify us immediately in case of unauthorized account access.
3.4. FINSOVA is not liable for any loss or damage resulting from unauthorized use of your account due to your failure to safeguard credentials.

4. Use of Services

4.1. Permitted Use: Services are to be used strictly for lawful and legitimate purposes.
4.2. Prohibited Activities: You agree not to:

• Use the services for fraudulent or illegal transactions.
• Misrepresent your identity or the purpose of your transactions.
• Engage in activities that disrupt the FINSOVA Portal or compromise its security.

5. Roles and Responsibilities

5.1. Retailers:

• Access basic services with applicable limits.
• Ensure timely and accurate completion of transactions.

5.2. Distributors:

• Manage Retailers and earn a portion of their commission.
• Ensure the onboarding process for Retailers is compliant with KYC norms.

5.3. Channel Partners:

• Create and manage Distributors and Retailers.
• Offer white-label solutions as per FINSOVA’s guidelines.
• Ensure proper training and compliance for their network.

6. Fees and Commissions

6.1. FINSOVA reserves the right to charge fees for services, which will be communicated in advance.
6.2. Commission structures for Retailers, Distributors, and Channel Partners are detailed in your account dashboard.
6.3. Any disputes regarding fees must be raised within 15 days of the transaction date.

7. Compliance and KYC

7.1. Users must comply with all applicable laws, including Anti-Money Laundering (AML) regulations.
7.2. All Users are required to complete KYC (Know Your Customer) verification.
7.3. FINSOVA reserves the right to suspend or terminate accounts for non-compliance with KYC requirements.

8. Data Privacy

8.1. FINSOVA is committed to protecting your personal information. Please refer to our Privacy Policy for details.
8.2. By using our services, you consent to the collection, storage, and processing of your data as described in the Privacy Policy.

9. Intellectual Property

9.1. All content on the FINSOVA Portal, including logos, trademarks, and software, is the property of FINSOVA or its licensors.
9.2. Unauthorized reproduction, distribution, or modification of Portal content is strictly prohibited.

10. Termination

10.1. FINSOVA may terminate or suspend your account without prior notice for breaches of these Terms.
10.2. Users may terminate their accounts by providing written notice to FINSOVA.
10.3. Outstanding obligations, including payment of fees, survive termination.

11. Limitation of Liability

11.1. FINSOVA is not liable for:

• Losses resulting from unauthorized account access.
• Service interruptions due to technical issues or force majeure events.
• Errors or delays caused by third-party service providers.

12. Dispute Resolution

12.1. Any disputes arising from these Terms will be resolved through arbitration under the Arbitration and Conciliation Act, 1996.
12.2. The arbitration venue will be New Delhi, India, and proceedings will be conducted in English.

13. Changes to Terms

13.1. FINSOVA reserves the right to modify these Terms at any time.
13.2. Changes will be communicated via email or the Portal, and continued use of services constitutes acceptance of revised Terms.

14. Contact Us

By using FINSOVA’s services, you acknowledge that you have read, understood, and agreed to these Terms and Conditions.

Finsova Fintech Pvt. Ltd. 11 F 50, Kudi Bhagtasani Jodhpur, Rajasthan – 342005 Phone: +91 6376380550 Email: help@finsova.org Website: www.finsova.org

Thank you for choosing Finsova!