1. Definitions
Definitions appearing in this Shriram Terms:
"Applicable Law" means all applicable laws, rules, regulations, guidelines, statutory or government notifications including Reserve Bank of India regulations and Payment Participant Rules.
"BBPOU" means Bharat Bill Payment Operating Unit operating under the applicable Bharat Bill Payment System regulatory framework.
“Agent institution” are customer touch points and service points who are currently offering or wish to offer bill payment services to customers through digital or physical channels.
Shriram as an Agent Institution will enable you to pay your bills or recharge your accounts with the listed service providers on Shriram platform registered under BBPS ecosystem
"Biller" means a biller, including Prepaid Service Providers supported by Shriram Pay for Bill Payment Services through a biller aggregator or a BBPOU, to whom a User can initiate bill payment on Shriram Pay.
"Bill Payment Services" means the facility provided to Users on Shriram Pay to view bills or pre-paid plans, make payments to Billers, and receive other ancillary services.
“Credit Card” means any credit card offered by a Credit Institution to You as per Your agreement with the Credit Institution.
“Credit Card Services” means the Shriram Pay Services for application and management of Credit Cards, and related offers and services offered by Credit Institutions to You.
"Credit Institutions" means banks, non-banking financial institutions and other credit providers that have the requisite permissions from the applicable regulatory authorities to provide advances and loans to users.
“Customer’s Bank” means the bank where the User maintains his/her Funding Account and has linked that Funding Account, for the purpose of debiting/crediting the Payment Transactions through UPI.
"Funding Account" means a credit card, bank account (through debit card or net banking), BHIM UPI account or pre-paid payment instrument (such as cash card or e-wallet) which registered by and used by the User, to fund Payment Transactions.
"Shriram Account" means the account you create with Shriram or Group Companies for the use of Shriram Finance Services and other Shriram services, as defined in the Universal Terms.
"Shriram Group Companies" or "Group Companies" means Shriram ’s parent, its subsidiaries and associate companies, and the parent’s ultimate holding company and its direct or indirect subsidiaries, including their associate companies.
"Shriram Pay Service(s)" or "Service(s)" means the Payment Transaction facilitation services, Bill Payment Services and other services provided by Shriram through Shriram Finance or other platforms.
"Loan Facility" means the loans and advances offered by a Credit Institution to You as per Your agreement with the Credit Institution.
"Loan Facility Services" means the Shriram Pay Services for facilitation of Loan Facility from Credit Institutions to You.
"Merchant" means a person or entity who/which (i) avails the Shriram Pay for Business Program; or (ii) provides Shriram Pay as a payment option to its customers through a Payment Participant; or (iii) uses Shriram Pay to collect payments from its customers for goods and services purchased from a merchant either offline or through any online platforms.
"NPCI" means the National Payments Corporation of India, is an authorized payments system operator by the Reserve Bank of India, which owns and operates UPI.
"P2P Service" means the Shriram Pay Services for facilitating P2P payment transactions.
"P2P Payment" or "Peer to Peer Payment" means a payment initiated by a User using the P2P Service that debits (or charges) a Funding Account of the User (i.e. Sender) and makes the funds available in the Payment Instrument designated by the Recipient.
"Payment Instrument" means, including but not limited to, a credit card, debit card, bank account, or prepaid payment instrument, including e-wallets and gift cards issued under Applicable Law, that is eligible for use by a User to fund Payment Transactions or a Recipient to receive payments.
"Payments System" shall have the meaning ascribed to it under the provisions of Applicable Law.
"Payment Participants" shall mean all the parties involved in the payment system including but not limited to payment/bill aggregators, Payments System Providers, acquiring banks, partner banks, the issuer of the Sender’s Funding Account, the issuer bank of the Recipient bank account, the issuer of the Payment Instruments, card associations, NPCI, Reserve Bank of India, etc.
“Payment Service Provider” or “PSP” is a banking company that is a payment participant, authorized to act as a “Payment Service Provider” under the UPI framework, and engages the TPAP to provide UPI services to the users.
"Payments System Providers" means banks, financial institutions, card associations, and other payment system providers (as defined under the Payment and Settlement Systems Act, 2007), with whom Shriram has entered into an arrangement to facilitate Payment Transactions (as defined below) using Payments System Provider Services.
"Payments System Provider Services" is a payment gateway system/interface/services provided to route payment instructions to Payments Participants for
(i) Card Transactions,
(ii) BHIM UPI based Transactions,
(iii) Net banking, (iv) prepaid payment instrument; and provide authentication and authorization from issuers, card associations, NPCI and/or other third party clearinghouses; and/or (v) provide settlement facilities in respect of payment instructions initiated by the User.
"Recipient" means a User, Merchant, Biller or third party who receives a payment from the Sender.
"Sender" means a User who uses the Shriram Pay Services to send a payment to a Recipient.
“Shriram Services” means the services/products provided by STFC to the User.
“Shriram Group Entities” means subsidiaries and affiliates of Shriram.
“TPAPs” means a Third Party Application Provider (TPAP) who provides Shriram Pay, a UPI compliant application to Users to facilitate UPI based payment transactions.
"Transaction" or "Payment Transaction" means (i) the payment request made by the User for sending or receiving payments; and (ii) the payment instructions provided by the Sender for debit of his/her Funding Account.
"UPI" means the Unified Payment Interface.
"UPI Transaction Data" means the individual UPI transaction data i.e. data in clear text format.
"User" means a person who registers for Shriram Pay Service(s) including UPI payment facility to send or receive payments.
"We", "we" or "us" means Shriram. "You", "Your" means a User
2.1 Shriram’s Role in Payment Transactions. You understand and agree to the following:
- Shriram is only a facilitator of Payment Transactions.
- Shriram is not a party to these Payment Transactions.
- Shriram is not a Payments System Provider.
- Shriram may, in certain scenarios, act as an intermediary and operate as a payment collection agent for the limited purpose of receiving funds on behalf of the Recipient.
- Shriram is not and will not be responsible for any aspect of the products or services you purchase.
- Shriram is not a party to and will not be responsible for any disputes, chargebacks or reversals arising pursuant to Payment Transactions.
- Shriram is not responsible for any act of Users, including, non-completion of a Transaction.
- The facilitation of a Transaction does not guarantee that the Sender has sufficient funds available in the Funding Account he or she used, that the Transaction will be authorized or processed, or that the Transaction will not later result in a chargeback or other reversal.
- Shriram is neither acting as a trustee nor acting in a fiduciary capacity with respect to any Payment Transaction.
- Shriram does not determine advice or in any manner control the commercial terms of the Payment Transaction, including the price of products and services offered for sale.
2.2 Bill Payment Services. Shriram facilitates bill payment services that allow You to view Your bills or eligible pre-paid plans and make payments to Billers through Shriram Finance. You understand, the Bill Payment Services provided through Shriram Finance are provided (i) by a Bharat Bill Payment Operating Unit ("BBPOU") under the Bharat Bill Payment System ("BBPS") infrastructure, where the Biller is registered with NPCI to participate within BBPS; or (ii) by a Biller aggregator with whom Shriram has entered into a contractual arrangement. You further understand that Shriram only facilitates bill presentment and bill payment and is either (i) an agent of the BBPOU in accordance with Applicable Law, where the Biller is registered with NPCI for BBPS; or (ii) a bill payment facilitator.
2.2.1 Terms for Shriram - Bill Payment & Recharges The following terms and conditions ("Shriram Bill Payment T&Cs") are specific to the use of the bill payment product introduced by Shriram which allows users to pay bills from various billers (or make pre-paid mobile recharge payments) including but not limited to electricity distribution companies, piped gas distribution companies, broadband companies, telecom companies, insurance companies etc.,. All Users accessing the Shriram Bill Payment screen or using Shriram Bill Payment shall be deemed to have read, understood and agreed to be bound by these Shriram Bill Payment T&Cs
2.2.2 Eligibility: Shriram shall make Bill Payment & Recharges available to some or all of Shriram Users at its sole discretion. Shriram may also suspend or discontinue offering Bill Payment for any Shriram Users at its sole discretion
2.2.3 Information access, biller data and disclaimers
2.2.3.1 By accessing the Shriram Bill Payment screen or using Shriram Bill Payment, You hereby agree that Shriram may access emails and SMS or regarding billers bill reminders and bill payment confirmations to identify the billers that You interact with (Relevant Billers), subject to You having enabled email access via Shriram and having granted SMS read permission to the Shriram App. You agree that You may not be able to use Shriram Bill Payment at all or effectively without granting the aforementioned, email access or SMS permissions
2.2.3.2 You agree that upon Relevant Billers being identified Shriram, Shriram shall from time to time fetch from the Relevant Billers or through BBPS payment system the Bill details and payment status in relation to your account with the Relevant Billers and Shriram may display such information to You on the Shriram Finance website and/or send You reminders of Your outstanding dues to such Relevant Billers
2.2.3.3 You understand and acknowledge that while Shriram undertakes best efforts to ensure accuracy of the information displayed on the Shriram Finance website, such information is derived from emails, SMS, billers and other sources which may not be error free. Shriram does not guarantee the accuracy or error free nature of the information displayed as a part of Shriram Bill Payment. Shriram recommends you to double check your bill details before making a payment
2.2.3.4 You understand and acknowledge that Shriram may also use your bureau data to fetch bills details and payment status in accordance with RBI guidelines
2.2.4 Bill Payments
2.2.4.1 Shriram shall enable You to pay your dues (or additional amounts) to the billers using certain payment instruments. The payment instruments enabled maybe changed by Shriram at its sole discretion from time to time based on success rates or any other relevant consideration. Shriram does not guarantee the availability of any particular payment instrument for Shriram Bill Payment
2.2.4.2 Shriram shall process the payment to the biller only after Shriram has received the payment from your credit/debit card or other relevant payment instrument. Shriram shall not be responsible for any delay occasioned due to any action or inaction on account of any bank or payment gateway involved in your transaction.
2.2.4.3 You agree to not hold Shriram responsible and/or liable for any issue or claim arising out for any dispute whatsoever between You and the biller, the payment gateway or Your bank.
2.2.4.4 Once a bill payment has been initiated it cannot be reversed. While Shriram undertakes its best efforts to process the payment as directed by you at the earliest, Shriram may delay, suspend, or reject a transaction for any payment(s) for any reason, including without limitation if we suspect the transaction poses a financial or security risk, or is unauthorized, or is fraudulent, suspicious, unlawful or in any way in violation of the applicable laws around such transactions or in violation of these Terms or otherwise unusual in any manner
2.2.4.5 Shriram may levy service charges for any SHRIRAM Bill Payment transaction. Such service charges if any shall be displayed on the transaction screen prior to the payment being initiated
2.2.4.6 You agree to not hold Shriram liable for delays in bill payment arising from biller's end. Shriram recommends You to pay your bills early to avoid late payment fees, if any, being levied by the biller
2.2.5 Indemnification: You agree to not hold Shriram responsible and/or liable for any issue or claim arising out for any dispute whatsoever between You and the payment gateway or Your bank or the Counterparty (including but not limited to billers and the BBPS system)
2.2.5.1 You shall keep Shriram indemnified and hold Shriram harmless in the case of any third-party claims against Shriram (whether by the Counterparty, payment gateway, bank, any government authority or any other Person) for the payments made or attempted to be made by You (or any other Person through your account) using Shriram
2.2.6 Information Input
2.2.6.1 You are responsible for all the information you input during your use of the Shriram Finance website including the Shriram Bill Payment features. You are responsible for ensuring that all the payment details provided by you are accurate.
2.2.6.2 In particular, you are responsible for ensuring the correctness of: (i) details of the biller / bill account number, (ii) details of the payment instrument (or selection from the saved payment instrument) and (iii) the amounts of payment, In the event you input any of these details incorrectly or as suggested by Shriram. You will be responsible for the resultant transaction and all charges that result from the same. Shriram may at its own discretion, without having any obligation to do so, assist in reversing such transactions if technically feasible and viable for Shriram
2.2.6.3 Shriram may ask for additional information if required from time to time including but not limited bill copies etc., to verify the underlying transactions and in case you fail to provide such information then you may be unable to use the Shriram Bill Payment features offered by Shriram. Further, Shriram may ask for additional documents in case a transaction appears to be suspicious. Failure to provide such documentation within 72 hours may result in your transaction failing and at Shriram's sole discretion, Your access to Shriram Bill Payments being revoked.
2.2.7 Disclaimers
2.2.7.1 Shriram Bill Payments feature as an Agent Institution is provided by Shriram through a) aggregators with whom Shriram has a contract or b) through the Bharat Bill Payment Operating Unit (BBPOU) infrastructure where the Biller is registered with NPCI for bill payments. Accordingly, SHRIRAM Bill Payments may be unavailable or settlement delayed in the event of any downtime or issues attributable to SHRIRAM's partners
2.2.7.2 Once a payment has been initiated it cannot be reversed and Shriram will not be liable in any way for any loss You suffer as a result of a transaction being carried out in accordance with the instructions issued by You
2.2.7.3 Shriram shall process the payment only after Shriram has received (i) the payment from your credit card or other relevant payment instrument; and (i) any further information requested from You by Shriram. Shriram shall not be responsible for any delay occasioned due to any action or inaction on account of any bank or payment gateway or the counterparty: the biller, the BBPS payment system involved in your transaction.
2.2.7.4 Shriram does not guarantee any timelines for payments to the Counterparties Any timelines mentioned on Shriram Finance are merely indicative in nature and not to be construed as guarantees
2.2.7.5 While Shriram undertakes its best efforts to process the payment as directed by you at the earliest, Shriram may delay/ suspend or reject a transaction or any payment(s) for any reason, including without limitation, if we suspect the transaction poses a financial or security risk, or is unauthorized, or is fraudulent, suspicious, unlawful or in any way in violation of the applicable laws around such transactions or in violation of these Shriram Bill Payments T&Cs, subject to dispute or otherwise unusual.
2.2.7.6 Shriram recommends You to pay your bills with sufficient gap from the due date and You agree to not hold Shriram liable in case of delay of payment of your bill
2.2.7.7 Shriram may from time to time make available either directly or in partnership with its Commercial Partners, certain benefits for using Shriram Bill Payment. All such offers shall be governed by their terms and conditions as displayed on the Shriram Finance website in addition to these Shriram Bill Payment T&Cs. Shriram's decision of such offers shall be final and binding and not subject to any appeal or dispute resolution process
