These terms and conditions (“Terms and Conditions”) are between you and Transcorp International
Limited (hereinafter referred to as \”Transcorp”) and govern your engagement in relation to
issuance of co-branded Semi Closed Prepaid Payment Instruments (“PPI”). You understand and
acknowledge that Transcorp is the licensed issuer under the applicable laws for issuance of PPI
and Mswipe Technologies Private Limited is the branding partner of Transcorp (“CoBranding
Partner”) for the issuance of PPI. BY ACCESSING AND USING IN ANY WAY, THE PPI ISSUED BY
TRANSCORP, YOU AGREE TO BE BOUND BY THESE TERMS AND CONDITIONS. IF YOU DO NOT AGREE TO THE TERMS
AND CONDITIONS IN FULL, THEN YOU SHOULD NOT USE OR OTHERWISE ACCESS THE PPI AND REQUEST
TRANSCORP AND/OR THE COBRANDING PARTNER FOR CLOSURE OF THE PPI.
Definitions: Semi-Closed Prepaid Instrument (PPIs): PPIs (Card/wallet) are
payment instruments that facilitate purchase of goods and services, including financial
services, remittance facilities etc. against the value stored on such instruments. No
cash withdrawal will be allowed from these instruments. Know your Customer (KYC): The
guidelines adopted by the Transcorp to identify the customer and verify the identity of
the customer. Personal Identification Number (PIN): PIN is a numeric password which is
part of the kit handed over to customer by the Transcorp while issuing the PPI.
Holder/Customer: Individuals/Organizations who obtain/purchase PPIs from Transcorp and
use the same for purchase of goods and services, including financial services,
remittance facilities etc. against the value stored on such instruments. Terms and
Conditions for PPI Minimum Details to be obtained from client for issuance of such PPIs:
As decided by Transcorp from to time. Usage: Such PPIs can only be used for purchasing
of goods and services and cannot be used for fund transfer Limit: The amount loaded in
such PPIs during any month shall not exceed INR 10,000 and the total amount loaded
during the financial year shall not exceed INR 120,000. The amount outstanding at any
point of time in such PPIs shall not exceed INR 10,000. Loading: These PPI can only be
loaded from bank account only. Cash loading is not permitted. Up gradation: Such PPI
cards can be upgraded to full KYC by completing the KYC process prescribed by the
company (where limit would be 2lac/month or 1lac at any given point) at any time by
furnishing the KYC documents. Closure: These PPIs can be closed any time by the holder
by making a request to Transcorp. The remaining amount (if any) of PPI will be
transferred by Transcorp back to source i.e. the bank account from where the PPI was
Obligation of the Prepaid Customer who purchases Prepaid Instrument from the
Transcorp: a. Prepaid Instrument (PPI) shall be issued to a Customer at the sole
discretion of the Transcorp post complying with “Know Your Customer” guidelines. b.
Transcorp shall levy fees for issuance usage of the Prepaid Instrument as per Schedule
of Charges displayed on Transcorp/ Co-Branding Partner /Associate website and available
on website “Terms & Conditions”. c. Transcorp shall issue a PIN to Customer for
operating the PPI. The Customer shall take reasonable precaution to prevent misuse of
the PIN. The Customer shall be solely responsible for any consequences arising directly
or indirectly out of the disclosure of the PIN and/or unauthorized use of PPI as a
result of any misuse for want of reasonable care and precaution. The Customer disclaims
liability of the Transcorp and/or the Co-Branding Partner for any unauthorized use of
Prepaid Instrument and for any loss or damage incurred directly or indirectly as a
result of such misuse. The liability in case of unauthorized usage will be governed by
the Board approved policy of Transcorp applicable on unauthorized usage. d. The Customer
shall be responsible for safe custody of the Prepaid Instrument. In case of loss or
theft of the Prepaid Instrument or misuse of the Instrument, the Customer shall
immediately inform any of the branches / contact centre of Transcorp/ contact centre
notified by the Co-Branding Partner. Customer shall be responsible and liable for all
unauthorized transactions till the customer reports the unauthorized transaction to
Transcorp. A new Instrument shall be issued to the Customer, in lieu of lost/stolen PPI
upon request in writing and payment of applicable fee as per the Schedule of Charges. e.
The PPI can be used at any permitted transactions depending on the type and features of
the PPI. The records of transactions maintained by the Transcorp shall be conclusive and
binding for all purpose. f. Transcorp and/or the Co-Branding Partner shall not pay any
interest on the balance outstanding in the Prepaid Instrument at any point in time. g.
The PPI issued by Transcorp will be valid for 5 Years from the date of issuance.
Transcorp will intimate the Customer through a SMS on the regd. mobile number, 45 days
prior to expiry of validity period of the PPI. Customer needs to utilize the balance
amount prior to expiry of the instrument. In case Customer does not utilize the balance
amount within the validity period, the Customer can approach the Transcorp and/or the
CoBranding Partner for refund/transfer of outstanding balance. In case the Customer does
not approach the Transcorp and/or its Partner within a specified period as prescribed by
regulator, the outstanding balance will be transferred to a fund or otherwise in
compliance with the regulatory guidelines. h. Any claim for compensation made by the
customer shall be settled purely as per the provisions of the Customer Grievance Policy
of the Transcorp.
Confidentiality: The Customer hereto shall keep strictly confidential all
information including but not limited to that which may be disclosed or confided to it
by the other in the course of the performance of the obligations under this ‘“Terms and
Conditions”’. Neither the Customer nor Transcorp shall disclose the same to any third
party without prior approval of the other party. This clause shall survive the
termination of PPI issued by Transcorp. The following are the exceptions to this clause:
a. information already in public domain; b. such information as is required to be
disclosed by the disclosing party under any laws, rules or regulations or pursuant to
the order or direction, of any Court, authority, tribunal or forum.
Change in information: The Customer shall also inform Transcorp/ the Co-Branding
Partner of any change in the Customers mailing address. Further, the Customer shall also
inform Transcorp/ the Co-Branding Partner about any change in the details such as name,
telephone number, or mobile number.
Prohibition against assignment: The functions, rights or obligations under these
‘“Terms and Conditions”’ shall not be assigned or delegated to any party or person by
the Customer without the express prior written consent of Transcorp. Any purported
assignment or delegation in contravention of the terms of the ‘“Terms and Conditions”’
shall be null and void.
Suspension or Termination or Cancellation or discontinuance of the PPI: Transcorp
may, if it is satisfied that it is necessary so to do, at any time and on such
conditions as it thinks fit, suspend or deny or terminate the PPI under the following
circumstances: (i) In the event of the Customer being declared insolvent or in the event
Transcorp receives any notice/ intimation about the death of the Customer; (ii) In the
event of the Customer committing breach of any of the terms, conditions, stipulations or
its obligations under these ‘“Terms and Conditions”’ (iii) In the event of any
restriction imposed on the Customer by an order issued by any regulatory authority or a
Court in India or any investigating agency.
Indemnity: The Customer shall indemnify and keep Transcorp and the Co-Branding
Partner, their respective directors, officers, employees and agents indemnified of, from
and against any cost, expenses, charges, which Transcorp and/or the Co-Branding Partner
is required to incur or has incurred to defend any such claim, suit, demand,
prosecution, proceedings, due to any act of omission or commission, fraud, negligence or
default on the part of the Customer as a holder of the PPI.
Force Majeure: Notwithstanding anything contained herein, Transcorp and/or the
Co-Branding Partner shall not be liable to the Customer for any harm, loss, damage or
injury caused due to causes beyond its control such as tide, storm, cyclone, flood,
lightning, earthquake, fire, blast, explosion or any other act of God, war, rebellion,
revolution, insurrection, embargo or sanction, blockade, riot, civil commotion, labour
action or unrest i including strike, lock-out or boycott, interruption or failure of any
utility service, enemy action, criminal conspiracy, act of terrorism or vandalism,
sabotage, hacking, unanticipated technological or natural interference or intrusion,
loss or damage to satellites, loss of satellite linkage or any other data communications
linkage, loss of connectivity or any other irresistible force or compulsion.
Service of Notice: Any notice or communication required to be given under this
‘“Terms and Conditions”’ shall not be binding unless the same is in writing and shall
have been served by hand delivery against acknowledgement or by registered post at the
Registered Office address of Transcorp International Limited (in case a notice is to be
served to Transcorp) and to address recorded with Transcorp in case notice is to be
served to the Customer.
Grievance Redressal: Any complaint, dispute, grievance would be addressed to
Transcorp in accordance with the Transcorp’s Grievance Redressal policy.
Governing Language: All deeds, documents and writings that may be executed and
all correspondence that may be exchanged between the Customer and Transcorp hereto in
relation to the subject matter of this ‘“Terms and Conditions”’ shall be in English
language, which shall be the governing language between the Customer and Transcorp
Governing Law and Jurisdiction: The use of PPI by the Customer shall be governed
in all respects by the laws in force in India. The Customer agrees to submit to the
exclusive jurisdiction of the courts in Jaipur. These ‘“Terms and Conditions”’ shall be
subject to Government notifications, any rules, regulations, guidelines and
circulars/notices issued by Transcorp and rules, regulations, bye Laws, Operating
Instructions and circulars/ communiqués/notices issued by the regulator.
Change of “Terms and Conditions”: Transcorp reserves the right, in its sole and
absolute discretion to amend, delete, modify, vary, or supplement \ any of the “Terms
and Conditions” at any time.
Contact Centre details: In case of any queries, please call 1800 102 2699, you
can also write to firstname.lastname@example.org. More details can be found on www.mswipe.com
Please refer exhaustive “Terms and Conditions” displayed on website of Transcorp for the latest
comprehensive applicable “Terms and Conditions”.
The customer shall be deemed to have read and understood the exhaustive “Terms and Conditions”
while dealing with Transcorp.
Upon submitting the request your physical card will be delivered on your registered address
within next 7 working days