TERMS & CONDITIONS

Pine Labs Limited having its registered office at Unit No. 408, 4th Floor, Time Tower, MG Road, DLF QE, Gurgaon – 122002, Haryana (Hereinafter referred as "Pinelabs"). Pinelabs is an RBI authorized PPI issuer and prepaid instruments marketed by Decentgrad Technologies Private Limited ("Pazy") are issued by Pinelabs and detailed terms and condition for the prepaid instruments are available at https://www.pinelabs.com/terms-and-conditions/prepaid-instruments/network-cards

By completing the sign-up process for availing the Pazy Pine Labs Prepaid Corporate Card(s), you are deemed to have expressly read, understood and accepted each and every Terms and Conditions mentioned herein and on the above link.

Further, you acknowledge that Pazy in only acting as a technology service provider and facilitator for the aforesaid service and its role is limited to:

• Providing the technology platform for accessing and managing Payment Services;

• Facilitating integration between Customer's systems and Pinelabs;

• Ensuring secure data transmission and storage between the Customer and Pinelabs in accordance with applicable data protection laws.

1. Card and Payment Usage

The Customer shall:

• Ensure that employees use corporate cards and payment facilities solely for authorized business expenses;

• Promptly report any lost, stolen, or compromised cards to Pazy and/or Pinelabs;

• Immediately notify Pazy of any unauthorized or suspicious transactions;

• Maintain adequate funds/balance in linked accounts to honor card transactions;

• Be solely responsible for all transactions authorized or conducted using the cards.

• Implement and maintain appropriate security measures to protect card details, UPI credentials, and login credentials;

• Ensure that employees do not share card details, PINs, OTPs, or UPI PINs with unauthorized persons;

• Regularly monitor transactions and promptly report any discrepancies;

• Cooperate with Pazy and Pinelabs in any investigation of fraudulent or unauthorized transactions;

• Keep themselves updated with Pinelabs's "Privacy Policy", "Grievance Policy" and "Terms of Use" by whatever name called.

2. Payments Data Processing

The Customer acknowledges that Pazy will share Payment Data with Pinelabs to the extent necessary for providing services and consents to such data sharing and processing for the purpose of availing the services.

3. Pazy's Liability

The Customer agrees that Pazy may not be held liable for:

(a) rejection, decline, or failure of any transaction by card issuers or banking networks;

(b) unauthorized transactions resulting from Customer's or its employees' negligence, including sharing of credentials, PINs, or OTPs;

(c) insufficient funds, account freezes, or banking restrictions;

(d) merchant disputes or chargebacks;

(e) damages in cases where any application on part of Customer for onboarding or loading of funds is rejected or the Customer's account is suspended by Pinelabs on account of the same being deemed as improper or illegal by them in accordance with applicable legal provisions.

4. Regulatory Changes

In the event of any change in applicable laws or RBI regulations that materially affects the PPI services, Pazy may:

• Modify these terms without any notice to Customer;

• Suspend or discontinue card(s) if compliance becomes impracticable or legally prohibited;

• Require additional documentation or compliance measures from Customer.

The Customer shall cooperate with all such requirements and shall not hold the Company liable for any modifications, suspensions, or discontinuations necessitated by regulatory changes.

5. Disputes

All the transaction disputes related to the network shall be governed as per network guidelines by Pinelabs.

In case of any inconsistency between these terms and Pinelabs's T&C's, the terms of latter shall prevail.

6. Fees & Charges

The list of fees and charges associated with the use of the Platform shall be specified by Pazy during the onboarding process of the Corporate/User. These charges may include but are not limited to platform fees, payment processing fees, etc.

Such fees and charges shall be subject to change from time to time and such changes shall be notified to the User. You agree that Pazy reserves the right to decide and charge such fees, as it may deem fit considering the products/services availed by you.

If any amounts are due and payable by the User for any reason, Pazy has the right to deduct such amounts from the corporate wallet. In the event that Pazy is unable to do so for any reason, it also has the right to temporarily suspend the Services.

7. Customer Communications

Accepting these T&C implies your express consent to be contacted by us, our agents, representatives, affiliates, or anyone calling on our behalf at any contact number, or physical or electronic address provided by you while registering your Account. You further agree to us contacting you in any manner, including without limitation:

• SMS messages (including text messages),

• WhatsApp messages,

• Calls using pre-recorded messages or artificial voice,

• Calls and messages delivered using an auto telephone dialing system or an automatic texting system, and

• Notifications sent via the App or email.

Automated messages may be played when the telephone is answered, whether by you or someone else. In the event that an agent or representative calls, he or she may also leave a message on your answering machine, voice mail, or send one via SMS.

Pazy is free to share information or mention about its products/offerings through SMS, emails (including system-generated/transactional emails), and other modes of communication.

You certify, warrant and represent that the telephone numbers and/or email addresses and any other information that you have provided to us are your own and not someone else's and are true, accurate, current and complete. You represent that you are permitted to receive calls at each of the telephone numbers you have provided to us and emails at each of the email addresses you have provided us. You agree to notify us whenever you stop using a particular telephone number(s) and/or email address(es).

8. System Requirements

In order to use the web App, you are required to have a compatible Device and system configuration.

9. User Guidelines

In consideration of Pazy granting you the rights hereunder, you hereby agree not to use the web page/App for any purpose that is unlawful under any applicable laws and/or in violation of the terms of these T&C and our Privacy Policy.

You shall not use the App in any manner that could damage, disable, overburden, or impair our server, or any network(s) connected to any Pazy server, or interfere with any other party's use and enjoyment of the App.

You shall not attempt to gain unauthorized access to any functions and features, other user accounts, computer systems or networks connected to any Pazy server, in any manner, including, through hacking, password mining or any other means. You shall not obtain or attempt to obtain any materials or information through any means not intentionally made available through the web page/App.

The web page/App is made available to you for your own use alone. You shall not allow third parties to: (i) Make and/or distribute copies of the page/App or any deliverable generated by the page/App; (ii) Attempt to copy, reproduce, alter, modify and/or reverse engineer the page/App; and/or (iii) Create derivative works of the page/App.

You accept that any and all operations emanating from your Device shall be assumed to have been initiated by you.

You shall request Pazy to block the Account and change the passcode immediately for the Account, if your Device has been lost or stolen. You are responsible for any and all activities that occur in your Account. You agree to notify Pazy immediately of any unauthorized use of the Account or any other breach of security.

Pazy shall not be liable for any loss to you or your organization owing to negligent actions or a failure on your part to inform Pazy, within a reasonable time, about loss or theft of your Device and/or any unauthorized access in your Account, either with or without your knowledge.

You shall be liable for losses incurred by Pazy or any other party due to a third party's use of the Account. You shall not use any other person's account at any time, without the permission of the account holder and Pazy.

Pazy shall make all reasonable efforts to ensure that your information is kept confidential. However, Pazy shall not be responsible for any disclosure or leakage of confidential information and/or loss or damage of the Device due to theft, negligence or failure on your part to practice safe computing. You shall ensure that while using the functions and features, all prevailing and applicable laws, rules and regulations, shall at all times be strictly complied with by you and Pazy shall not be liable in any manner whatsoever for default of any nature, by you, regarding the same.

You understand and acknowledge that upon using the web page/App, you authorize us to access third party sites designated by you, on your behalf, to retrieve such information requested by you, and to register for accounts requested by you. For all purposes hereof, you hereby grant us powers and hereby authorize us with the full power of substitution and re-substitution, for you and in your name, place and stead, in any and all capacities, to access third party internet sites, servers or documents, retrieve information, and use your information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with the services and facilities available on the App, as fully to all intents and purposes as you might or could do in person.

YOU ACKNOWLEDGE AND AGREE THAT WHEN WE ACCESS AND RETRIEVE INFORMATION FROM THIRD PARTY SITES, WE ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY. You agree that such third parties shall be entitled to rely on the foregoing authorization and agency granted by you.

User agrees that Pazy shall not be liable in any manner whatsoever for any transaction done by the User using the Platform and it further acknowledges that Pazy shall not be liable to refund/return any money(ies) for any transactions done using the Platform. The User further agrees that any transactions conducted using the Platform shall be solely at their own risk. The User acknowledges and agrees that Pazy shall not be responsible or liable for any losses, damages, or liabilities arising from online transactions conducted by the User.

Pazy and its partners reserve the right to deny access, suspend and terminate use of the Platform to the User and the persons accessing the Platform on behalf of the User, with or without prior notice in any form: (i) If they suspect, have reason to believe or upon request or instruction from a competent authority have been informed, that User has violated any of the terms, rules, laws, regulations and guidelines; (ii) In case of any dispute with respect to transaction (inward/outward) raised by any concerned government authority or regulatory bodies, such suspension/termination shall remain in force until the resolution of the dispute.

Before making the Platform available, Pazy and its partners may undertake a KYC process as per applicable laws and the User shall provide all assistance and furnish genuine documents for the same. User agrees that unless the KYC process is completed by the User, it shall not be allowed to access the Platform.

The issue and use of the Platform shall be subject to the rules and regulations issued by Pazy and its partners from time to time.

User agrees that it will add funds on the platform exclusively from its own bank accounts registered on the Platform and not from any other source.

User hereby agrees that Pazy and its partners reserve an absolute right to approve or reject its application for use of the Platform, without giving any reason whatsoever. User authorizes Pazy and its partners to disclose, from time to time, any information relating to User's usage of the Platform including any default therein to credit bureaus, financial institutions, regulatory authorities, any parent, subsidiary, affiliate company or associate of Pazy and its partners. User agrees that if Pazy or its partners requires any information on account of compliance with the KYC and AML Guidelines, it will provide the same.

User agrees that Pazy shall have the right to use, store, monitor and share the transaction data of the User with its parent, subsidiary, affiliate company, its partners, regulatory authorities, credit bureaus, credit information companies, financial institutions, and any other authorities.

Please note Goods and Service Tax is applicable on all fees and other charges.

User acknowledges in case of temporary suspension/unavailability of the Platform for any reason whatsoever, Pazy shall not be responsible for paying any interest/fees/penalties/charges to the User in relation to such temporary suspension/unavailability. For the sake of clarity, User shall not be entitled to receive any interest on the funds added to the Platform extended by Pazy or its partners.

10. Indemnification

You agree to protect, defend and indemnify us and hold us and our representatives harmless from and against any and all claims, damages, costs and expenses, including attorneys' fees, arising from or related to your access and use of the web page/App in violation of these T&C and/or your infringement, or infringement by any other user of your Account, of any intellectual property or other right of anyone.

The terms of this provision will survive any termination or cancellation of these T&C or your use of the web page/App.

The User shall be liable to Pazy and/or its partners for the full amount of the transaction or reload value on the Platform plus any fees, if the transaction or reload is later invalidated for any reason, including but not limited to chargeback and reversal of transaction. User agrees that Pazy and its partners will have the right in their sole discretion to suspend the use of the Platform at any time without any prior intimation and to recover any amounts or fees or charges due to it, whether under this arrangement or any other arrangement, by debiting the available funds on the Platform or any other product offered by Pazy or its partners to the User.

If there are insufficient funds on the Platform or any other product offered by Pazy or its partners to cover the User's liability, then the User agrees to reimburse Pazy and its partners through other means. In addition, cancellation, suspension, refund and chargeback shall be subject to the Pazy and its partners' policies as updated from time to time.

11. Warranties

The web page/App and the functions and features therein are provided on an "as is" and on an "as available" basis. We expressly disclaim all warranties of any kind, whether expressed or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.

Pazy shall make reasonable efforts to make available the App and the functions and features at all times. However, we make no warranty that the App shall meet your requirements, be uninterrupted, timely, secure, and/or error free. Further we do not make any warranty as to the results that may be obtained from the use of the functions and features or as to the accuracy, reliability and/or quality of the output derived therefrom.

Pazy shall not be liable for the loss and/or damage of the confidential information or data of the User arising as a result of an event or a series of related events, that is beyond the control of Pazy, including failures of or problems with the internet or part of the internet, attempted hacker attacks, hacker attacks, denial of service attacks and/or viruses or other malicious software attacks or infections.

Any material downloaded or otherwise obtained through the web page/App is done at your own discretion and risk and you are solely responsible for any damage to your Device or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from us through or from the service will create any warranty not expressly stated in these T&C.

12. Limitation of Liability

Notwithstanding anything contained in these Terms:

• Under no circumstances shall Pazy and its bank and credit facility partners be liable to you for direct, indirect, incidental, consequential, special or exemplary damages arising from termination of the services provided under these Terms, even if Pazy and its bank and credit facility partners have been advised of the possibility of such damages, such as, but not limited to, loss of revenue or anticipated profits or lost business;

• Pazy and its bank and credit facility partners shall not have any liability whatsoever in case of any third party claims, demands, suit, actions, or other proceedings against you in the course of usage of the services provided under these Terms;

• Pazy and its bank and credit facility partners shall not be responsible for any inability to use the web page/App, provision of or failure to provide the functions and features, whether based on contract, tort, negligence or otherwise.

13. Severability

If any provision of these T&C is held to be illegal, invalid or unenforceable under any present or future applicable laws:

(a) Such provision will be replaced with another, which is not prohibited or unenforceable and has, as far as possible, the same legal and commercial effect as that which it replaces; and

(b) The remaining provisions of the T&C will remain in full force and effect and will not be affected by the illegal, invalid, or unenforceable provision or by its severance herefrom.

14. Termination

Pazy may terminate the use of the web page/App at any time after giving notice of termination to you.

Upon termination, the rights and license granted to you herein shall terminate and you must cease all use of the web page/App.

15. Waiver

Any failure on the part of Pazy to require performance of any provision of these T&C shall not affect its right to full performance thereof at any time thereafter, and any waiver by Pazy of a breach of any provision hereof shall not constitute a waiver of a similar breach in the future or of any other breach.

16. Assignment

You shall not assign or transfer any rights, obligations, or privileges that you have under these T&C, without the prior written consent of Pazy. Subject to the foregoing, these T&C will be binding on the successors and permitted assignees of Pazy. Any assignment or transfer in violation of this clause will be deemed null and void.

17. Independence from Platforms

The web page/App is independent of any platform on which it is located. The web page/App is not associated, affiliated, sponsored, endorsed or in any way linked to any platform operator, including, without limitation, Apple, Google, Android or any other platform provider (each being an "Operator").

Your download, installation, access to, or use of the web page/App is also bound by the terms and conditions of the Operator.

You and Pazy acknowledge that these T&C are concluded only between you and Pazy, and not with an Operator, and Pazy, not those Operators, is solely responsible for the web page/App and the content thereof to the extent specified in these T&C.

Pazy is solely responsible for providing any maintenance and support services with respect to the web page/App as required under applicable law. You and Pazy acknowledge that an Operator has no obligation whatsoever to furnish any maintenance and support services with respect to the web page/App.

You and Pazy acknowledge that Pazy, not the relevant Operator, is responsible for addressing any User claims or any third party claim relating to the web page/App or your possession and/or use of the web page/App, including, but not limited to: (i) any claim that the web page/App fails to conform to any applicable legal or regulatory requirement; and (ii) claims arising under consumer protection or similar legislation.

You and Pazy agree that, in the event of any third party claim that the web page/App or your possession and use of the web page/App infringes that third party's intellectual property rights, Pazy and not the relevant Operator, will be solely responsible for the investigation, defense, settlement and discharge of any such intellectual property infringement claim; provided such infringement was caused by Pazy.

You must comply with any applicable third party terms of agreement when using the web page/App (e.g. you must ensure that your use of the web page/App is not in violation of your Device agreement or any wireless data service agreement).

18. Updates

Pazy reserves the right to update the Platform, in order to, inter alia, increase efficiency, optimize user interface, and add new facilities from time to time.

19. Validity of T&C

These T&C shall remain valid and binding on you for so long as you access or use Pazy.

20. Governing Law and Jurisdiction

These T&C (and by extension, the Privacy Policy) are governed and construed in accordance with the laws of India. By using the web page/App, you hereby irrevocably consent to the exclusive jurisdiction and venue of courts in Bengaluru, Karnataka, India, in the event of any disputes arising out of or in relation to your access to and use of the web page/App.

Contact Information

Email: support@pazy.io