Logixpay Terms and Conditions :
Last Updated : 10th November, 2023
Table of Contents :
Definitions :
1. Introduction
2. Eligibility
3. Services
4. Merchant Onboarding and KYC
5. Managing the Account
6. Payment Facilitation
7. Charges and Invoices
8. Transaction Disputes
9. Termination and Expiry of Agreement
10. Redemption of Funds
11. Intellectual Property
12. Limitations of Liability
13. Customer Support
14. Changes to the Agreement
15. Disclaimers
16. Laws and Courts
17. Severance
Definitions :
Authorised Signatory : Means account holder to manage the account, oversee transactions, and ensure compliance with Logixpay’s policies.
Account : Means the Online Platform in which the Merchant access and manage the Service offered by Logixpay
Agreement : Means these terms and conditions
Applicable Law : Means all applicable laws, statutes, rules, regulations, guidelines, statutory or government notifications including Reserve Bank of India regulations
Available Balance : Means at any given time any unspent funds loaded onto the Wallet which are available for Payout
Beneficiary : Means the individuals or businesses to whom the Merchant will make payment by using our services
Business Day : Means any day other than a Saturday, Sunday or national public holiday on which banks are open for business in India
Chargeback : Means dispute resolution process that can be initiated by a merchant with Us. It allows the merchant to request a refund for a transaction that they believe was fraudulent, unauthorized, or not as described.
Commencement Date : Means the date the Customer has accepted this Agreement by E-signing the through Aadhar OTP.
Confidential Information : Confidential information Means non-public, proprietary data, including but not limited to business strategies, financial details, and any other sensitive information shared by Logixpay with the user or merchant..
Customer : Refers to the user or merchant entering into an agreement with Logixpay.
GST : Goods and Services Tax, a value-added tax levied on most goods and services.
KYC : Know Your Customer, a process for verifying the identity of customers during onboarding.
Merchant : A business entity or individual utilizing Logixpay’s services.
Payout Services : Means payment Disbursement services that are provided to the Merchant to Disburse the Payout Amount to the beneficiary
Platform Management Fees : Charges levied by Logixpay for the management of the merchant’s platform on a monthly basis.
RBI : Means Reserve Bank of India
Service : Means the Payout and other Services provided by Logixpay
Third Party : Means any entity/person who is not a party to the Agreement.
Transaction : Any financial activity facilitated through the Logixpay platform.
Transaction Fees: Charges applied to each successful Payout transaction to beneficiary through the Logixpay platform.
User : Means anyone (such as Merchant/Accountant/Manager
r) who the Customer has authorized access to use the Logixpay Platform
Wallet : Means the electronic account in the Customer’s name where Available Funds are held.
1. Introduction :
Welcome to LogixPay! These Terms and Conditions (the “Merchant Terms”) constitute a legally binding agreement between Logixpay (hereinafter referred to as “we,” “us,” or “our”) and you, the Merchant. These Merchant Terms outline the terms and conditions that govern your use of our services.
By accessing or using any of the Services offered by LogixPay, you explicitly acknowledge your understanding of and agreement to comply with all the terms and conditions set forth in these Merchant Terms. This agreement serves as a legally binding contract between you, the Merchant, and LogixPay.
It is essential that you review these Merchant Terms carefully before proceeding with the use of our Services. If you do not agree with any part of this agreement, please do not access or utilize any of the Services provided by LogixPay. Your agreement to these Merchant Terms is a prerequisite for accessing and benefiting from our Services.
LogixPay is dedicated to ensuring that your experience with our Services is secure, efficient, and in compliance with all applicable laws and regulations. These Merchant Terms are designed to to provide you with a comprehensive understanding of our obligations, as well as your rights and responsibilities.
The Agreement will commence on the Commencement Date.
2. Eligibility
By agreeing to the Logixpay terms and Conditions, you represent and warrant that:
(I) You are 18 years of age or older
(II) You are capable of entering into a legally binding agreement;
(III) You are or represent a business located in India. If you are a business located outside India, you are not allowed use the Services offered by Logixpay
(IV) You are not barred or otherwise legally prohibited from accessing or using the Logixpay Services
(V) You are duly authorized to do business in India and enter into the Logixpay Terms and Conditions. Your employees or representatives, accessing the Logixpay Platform are authorized to access the services and to legally bind you to the Logixpay Business Terms.
If you allow anyone to use your account, including individuals under 18 years of age, you will still be responsible for ensuring that such individuals comply with these Terms of Use. You will be responsible for all actions these individuals take in and/or through your account. You also acknowledge that Logixpay does not have the responsibility of ensuring that You meet the aforesaid eligibility requirements.
The Customer holds the necessary licenses, registrations and other forms of authorization as may be required under the applicable laws for the carrying out of the Customer’s trade, business or professional activities in the jurisdiction(s) where the Customer’s trade, business or
professional activities are carried out;
If the Customer becomes aware that any authorized person is (or will be) in breach of the terms of the Agreement, the Customer will take steps to remedy the breach and/or prevent the authorized person concerned from using our services.
The Merchant represents, warrants and declares that it is not engaged in any business which is outlined in the Restricted Categories of business provided under Attachment A to these Terms and Conditions and shall not during the term of the Agreement indulge in business stated in the said Restricted Categories of business.
3. Services :
Services provided by Logixpay includes the following but not limited :
• Payout Management System
• Adding of their fleets, drivers and vendors to our platform
• Mapping of the driver with Fleet
• Beneficiaries’ Bank Account Verification
• Transaction History and Reports
• Platform Access to Merchant’s Manager/Accountant
Logixpay is committed to delivering the Software Service to the Customer, aiming for exceptionally high standards in its features. Logixpay reserves the right to modify the Software Service or introduce new features in the future. By accepting this Agreement, the Customer acknowledges and agrees that the composition and characteristics of the Software Service may evolve without prior notice.
The Customer is responsible for ensuring the accuracy and correctness of data provided by the beneficiaries when utilizing our Service. Logixpay bears no responsibility for any losses incurred by the Customer during the use of our services if the data provided by the Customer or the User is inaccurate or incorrect.
4. Merchant Onboarding
When the Customer creates an Account with Logixpay, the Customer must provide information that is accurate, complete and current at all times. The Customer shall assign with the consent of an authorized signatory, a Verified Merchant to manage the Account.
If the merchant as a sole proprietor or individual trader, he shall be considered as the authorised signaotry and shall held responsible for complying with Logixpay Terms and Conditions.
If the business type of the merchant is other than a proprietorship, the authorized signatory, whose KYC is completed during onboarding, bears responsibility for complying with Logixay Terms and Conditions.
The Authorized Signatory holds the responsibility to grant permission for their designated Manager/Accountant/Staff to manage the Merchant Account. This includes the capability to provide either limited or extended access to ensure efficient account management.
It is crucial to note that the Authorized Signatory is accountable for ensuring compliance with Logixpay’s terms and conditions. The functionality enabling the addition of a manager is designed for the ease of account management, with the understanding that the Authorized Signatory retains ultimate responsibility for adherence to Logixpay’s policies.
The Customer and the Users are responsible for safeguarding the Account and password they use to access the Service.
Accounts and access credentials must not be shared. The Customer and Users agree not to disclose passwords or One time passwords ( OTP ) to any third party. The Customer and the Users must notify Logixpay immediately upon becoming aware of any breach of security or unauthorized use of the Account.
Merchant onboarding with Logixpay shall take place in accordance with our internal Merchant Onboarding and Know Your Customer ( KYC ) Policy as well as guidelines prescribed by the Reserve Bank of India or any other regulatory authority.
Logixpay may hold the onboarding process if the merchant fails to furnish the necessary documents or details as per our internal Merchant Onboarding and Know Your Customer Policy.
If the merchant as a sole proprietor or individual trader, he shall be considered as the authorised signaotry and shall held responsible for complying with Logixpay Terms and Conditions.
If the business type of the merchant is other than a proprietorship, the authorized signatory, whose KYC is completed during onboarding, bears responsibility for complying with Logixay Terms and Conditions.
If at any time Logixpay founds the KYC details are fake, Logixpay may close, suspend or put on hold the access to your account with us.
5. Managing the Account
Logixpay provides a dashboard to the Merchant for managing the account. The dashboard and all account activities is managed by merchant and Logixpay shall not make any interference in the said dashboard.
Logixpay shall provide the Payout services to the merchant by assigning them a Business Wallet. The Payout Service facilitate payments into the UPI or Bank Account maintained by the beneficiary.
The wallet may only be loaded by the merchant from the current account that they have provided while onboarding. Logixpay shall provide an account number and IFSC code to the merchant for adding the funds to their wallet. Wallet must be loaded to the account given by Logixpay. The Wallet shall be loaded by the Merchant prior to use of our Services.
The Merchant is obligated to deduct and fulfill all tax-related compliances concerning either Goods and Services Tax or Income Tax applicable to the payments made to the beneficiary. In the event that Logixpay requests evidence of such compliance, the Merchant is required to provide the necessary proof or documentation.
Merchant shall be responsible for undertaking necessary steps to ensure to conduct a background check of parties that would receive funds from the wallet provided by Logixpay.
The Merchant acknowledges and agrees that the Account balance maintained by the Users on the Platform shall be non-interest bearing
6. Payment Facilitation
Logixpay facilitates a payment service when a merchant is activated.
Logixpay will be entitled to assume that a Transaction has been authorized by the Customer, or their Manager/Accountant acting on behalf of the customer.
Logixpay receives notification of the transaction authorisation by way of an electronic message from a Bank. Once a Transaction has been authorized, the Transaction cannot be stopped or revoked.
On receipt of notification of the authorisation of a Transaction and the Transaction reference number, Logixpay deducts the value of the Transaction from available balance of Merchant. Beneficiary shall get the transfer amount after deduction of transaction fees and Goods and Services Tax ( GST ) on the transaction fees.
If any payment is attempted that exceeds the Available Funds, the Transaction will be declined.
Merchant shall ensure that it keeps record of all the transactions and necessary details about the beneficiaries in a manner prescribed by applicable laws, and it obtains proper consent for use of such information about the Customer for delivery of goods and rendition of services.
Logixpay may call upon the Merchant to share the relevant information about the transactions with the Beneficiary or the information gathered by the Merchant about the Beneficiary for its internal audits, or in case such information is required to undertake any investigation about fraud or illegal activity by the regulators.
If Logixpay identifies any unauthorized transaction and/or use case (“ Fraudulent Transaction ”), the User shall be notified by Logixpay through an Email. The User shall furnish relevant documents and information pertaining to the transaction within 3 days or such other period specified by the bank.
The Merchant agrees and acknowledges that if they are unable to provide the required documents or if the bank is not satisfied with the documents submitted by the Merchant, the bank is entitled to instruct Logixpay to initiate a reversal of the amount associated with the fraudulent transaction.
Logixpay shall also be entitled to hold the value of transaction under dispute during the pendency of inquiries, investigations, and resolution thereof by the Service Provider/Bank/Regulatory Authority.
The Merchant also agrees and acknowledges that it shall be liable to pay fines, penalties and charges imposed by banks, card payment networks or any regulatory authority on account of transactions that are in violation of Applicable Law.
Logixpay holds no responsibility for any unauthorized transactions carried out by Merchant that may lead to infringement of beneficiary’s rights or result in the loss of claimed amount by beneficiary. It is the Merchant’s responsibility to exercise due diligence when conducting transactions, whether online or otherwise.
Logixpay will implement reasonable technical and organizational measures to ensure support for transactions 24 hours per day, 365 days per year. However, Logixpay cannot guarantee uninterrupted service, and under certain circumstances, such as a significant technical issue, Logixpay may face challenges in completing transactions.
Merchant shall ensure that it keeps record of all the transactions and necessary details about the beneficiaries in a manner prescribed by applicable laws, and it obtains proper consent for use of such information about the Customer for delivery of goods and rendition of services.
7. Charges and Invoices :
Transaction Fees :
For every successful transaction conducted through our platform, Logixpay applies a transaction fee. Logixpay will deduct the transaction fee and Goods and Services Tax (GST) on the transaction fee from the entered transaction amount by the Merchant. The beneficiary will receive the amount after the deduction of Transaction fees and GST on the fees.
Monthly Platform Management Fees :
Logixpay charges a Monthly Platform Management fees from each merchant. Platform Management Fees can vary per customer.
Monthly Platform Management fees start from 1000 INR plus GST. The fees will be debited from the Available Balance at the end of each month.
Merchant shall be solely responsible for maintaining sufficient funds for payment of Monthly Platform Management Fees to Logixpay.
Logixpay shall revise these charges from time to time. Merchants shall be informed for revision of charges through Email.
Merchants shall receive an invoice for the transaction charges and Monthly Platform Management fees incurred each month. The Invoice can be accessed and downloaded in the Invoices Menu. It is the Merchant’s responsibility to provide the correct GST Number.
8. Transaction Disputes
Logixpay facilitates Transactions in accordance with the Transaction detail received, thus including where the detail provided to Logixpay is incorrect, we will not be liable for facilitating Transactions where the detail received is incorrect.
Merchants shall be solely responsible for furnishing the required details for solving the dispute. Failure to furnish necessary documentation may impact the dispute resolution outcome.
9. Termination and Expiry of Agreement
The Agreement will continue until terminated by either Customer or Logixpay.
Logixpay reserves the right to terminate this agreement immediately in the event of a material breach by the User or Merchant. Material breaches may include but are not limited to non-compliance with terms or fraudulent activities.
Upon termination, the User or Merchant will promptly settle any outstanding fees or obligations. Logixpay retains the right to complete any pending transactions initiated before the termination becomes effective.
Termination of this agreement does not exempt the parties from obligations that, by their nature, are intended to survive termination. This includes, but is not limited to, confidentiality obligations, dispute resolution, and indemnification.
Logixpay reserves the right to suspend services, temporarily or permanently, in the event of termination, non-payment of fees, or suspected fraudulent activities.
In the event of termination, Logixpay will provide notice in electronic form to the User or Merchant, specifying the effective date of termination and any post-termination procedures.
10. Redemption of Funds
Prior to termination and during the term of this Agreement, the Customer retains the rights to redeem some or all of the Available Funds on the Wallet through the Logixpay platform.
Logixpay will transfer the Available Funds solely to the bank account provided by the Customer, subject to reasonable verification that the bank account is held by the Customer.
Completion of the customer’s withdrawal request by Logixpay is contingent upon the absence of any ongoing dispute related to the customer’s transactions.
11. Intellectual Property :
All intellectual property rights related to the Logixpay platform, including patents, trademarks, copyrights, and trade secrets, are exclusively owned by Logixpay.
Users and Merchants are granted a limited, non-transferable license to use the Logixpay platform and services, subject to compliance with the terms of this Agreement.
Reproducing, modifying, distributing, creating derivative works, or reverse engineering any aspect of the Logixpay platform without explicit written consent is strictly prohibited.
Content provided or uploaded by Users or Merchants onto the Logixpay platform does not transfer ownership of intellectual property rights to Logixpay.
Feedback, suggestions, or ideas shared by Users or Merchants become the exclusive property of Logixpay, allowing Logixpay to use, modify, or implement the feedback without obligation or compensation.
Logixpay will take legal actions to protect its intellectual property rights in case of unauthorized use, reproduction, or infringement, with Users and Merchants agreeing to cooperate in any enforcement actions.
12. Limitations of Liability :
Logixpay does its best to ensure uninterrupted platform access, but Users and Merchants acknowledge occasional unavailability due to maintenance or technical issues, absolving Logixpay from losses incurred during such periods.
Users and Merchants accept inherent risks associated with financial transactions, and Logixpay is not liable for direct or indirect losses arising from such activities.
Responsibility for maintaining login credentials’ confidentiality and account security lies with Users and Merchants; Logixpay is not liable for losses resulting from unauthorized access due to negligence in safeguarding login information.
Integration of third-party services on the platform does not imply Logixpay’s endorsement, and Logixpay disclaims any liability for the accuracy or suitability of third-party services.
Logixpay’s liability for direct damages is limited to the total fees paid by the User or Merchant within the preceding six months from the date of the claim.
Logixpay shall not be liable for consequential, incidental, indirect, or special damages arising from the use of its platform or services.
Users and Merchants agree to indemnify Logixpay against any claims, liabilities, losses, or expenses, including legal fees, arising from their use of the Logixpay platform or services.
13. Customer Support :
Availability:
Customer Support is accessible 24 hours a day, 7 days a week. However, during non-business hours, contact may be limited to automated answering systems.
Resolution Timelines:
While every effort will be made to resolve inquiries immediately, certain types of inquiries may only be addressed during standard business opening hours.
Communication Channels:
Customers can reach Customer Support through communication channels provided in the Help Center. These channels will be clearly outlined for easy access.
Contacting the Customer:
In the event that Logixpay needs to contact the Customer or send notifications under this Agreement, communication will primarily occur through the email address provided during onboarding.
Complaints Procedure:
If the Customer is dissatisfied with any aspect of the service, complaints should be directed to Customer Support using the provided contact details in the Help Center. Calls may be monitored or recorded for documentation and training purposes.
Escalation Process:
Logixpay is committed to ensuring the best possible service. If the Customer is unhappy with how a complaint is handled by Customer Support and wishes to escalate, a written complaint can be sent to Logixpay’s registered address.
Customers are encouraged to familiarize themselves with the Help Center for comprehensive information on accessing and utilizing Customer Support services.
14. Changes to the Agreement
Notification:
Logixpay reserves the right to modify or amend this Agreement at its discretion. Users and Merchants will be notified of any changes through the email address provided during subscription or other designated communication channels.
Effective Date:
Changes to the Agreement will become effective as of the date specified in the notification. Continued use of the Logixpay platform and services after the effective date constitutes acceptance of the modified terms.
Review Responsibility:
Users and Merchants are responsible for regularly reviewing the terms and conditions of this Agreement. Logixpay may also provide a summary of changes for quick reference, but the complete terms should be reviewed for a comprehensive understanding.
Dispute Resolution:
In the event of disputes arising from changes to the Agreement, Logixpay encourages Users and Merchants to reach out to Customer Support for clarification and resolution.
Amendment Authority:
Logixpay retains the authority to amend or modify this Agreement, and Users and Merchants agree to abide by the most recent version as published on the Logixpay platform.
It is recommended that Users and Merchants periodically check for updates to this Agreement to ensure ongoing compliance and understanding of the terms and conditions governing the use of the Logixpay platform and services
15. Disclaimers
Logixpay shall not be liable if the Customer fails to avail the usage of the Logixpay platform or services due to force majeure conditions, including natural calamities, legal restraints, technical lapses in the telecommunication network, or reasons beyond Logixpay’s control.
Logixpay shall not be liable for any unauthorized use of Merchant Account for fraudulent, duplicate, or erroneous transaction.
Logixpay shall not be liable for loss of any information during processing or transmission or any unauthorized access by any other person or breach of confidentiality.
Logixpay shall not be liable for any loss or damage, whether direct, indirect, or consequential, suffered by the Customer or any person arising from or relating to any delay, interruption, suspension, resolution, or error by Logixpay in receiving and processing requests or any failure, delay, interruption, suspension, restriction, or error in the transmission of any information or message.
Logixpay shall not be responsible for the confidentiality, secrecy, and security of personal or account information transmitted to effect the Customer’s instructions.
Logixpay shall not be held liable for any loss suffered by the Customer due to disclosure of the personal information to a third party by us.
16. Laws and Courts
These Terms shall be governed by and construed in accordance with the laws of India, without regard to its conflict of law provisions and the exclusive jurisdiction of competent courts.
17. Severance
In the event that any provision of these terms and conditions is found to be invalid, illegal, or unenforceable by a court of competent jurisdiction, such provision shall be severed from the agreement, and the remaining provisions shall continue in full force and effect. The parties shall negotiate in good faith to replace the severed provision with a valid and enforceable one that reflects the original intent of the agreement. This severance provision ensures that the overall validity and enforceability of the terms and conditions remain unaffected despite the invalidity of any specific provision.