HIPBAR WALLET – TERMS OF USE
(“Terms “)

Definitions

  1. “Applicable Laws” shall mean all treaties, statutes, enactments, acts of legislature or parliament, laws (including rules of equity), codes, ordinances, rules, bye-laws, regulations, notifications, guidelines, policies, directions, directives and orders, decisions, decrees, permits, licenses, consents, approvals or other authorizations of any governmental authority, statutory authority, regulatory authority, tribunal, board or court in India, as amended or implemented from time to time.


  1. “Basic Account” means a Customer HipBar Wallet classified as semi-closed system payment instruments issued by accepting minimum or basic customer details includinga self-declaration of the Customer's name, e-mail address, mobile number which is verified with a One Time Pin, unique identification number of any "officially valid document" as defined under Rule 2(d) of the Prevention of Money Laundering Rules, 2005, which permit payments as per the RBI master circular on Policy Guidelines on Issuance and Operation of Pre-paid Payment Instruments in India dated July 01, 2016 read with the RBI's initial guidelines on "Issuance and Operation of PPIs" issued in April 2009, as amended and supplemented by the RBI from time to time. The amount loaded and / or total amount debited in such HipBar Wallet during any month shall not exceed INR 10,000 (Rupees ten thousand) and the total amount loaded during the financial year shall not exceed INR 1,00,000 (Rupees one lakh). The amount outstanding in such PPIs, at any point of time, shall not exceed INR 10,000 (Rupees ten thousand).


  1. “Charge(s)” or “Service Charge” shall mean the charges which HipBar may levy upon You in consideration for subscribing to the HipBar Wallet.


  1. “Customer”, “User“ or “You” means a person who has registered with HipBar for availing the HipBar Wallet and who has accepted these Terms and owns/operates/has access to an internet compatible device that supports the HipBar Wallet.


  1. "Gifting" shall mean the facility given to send any denominational value beyond INR 100 to another beneficiary and to send a listed product to another beneficiary at any value.


  1. “HipBar” means Hip Bar Private Limited.


  1. “HipBar Wallet” means the pre-paid payment instrument issued by HipBar including the Basic Account and Prime Account.


  1. “KYC” stands for 'Know Your Customer' and refers to the various norms, rules, laws and statutes issued by RBI from time to time, including RBI (Know Your Customer (KYC)) Direction, 2016, as amended or implemented from time to time, under which HipBar is required to procure personal identification details from You before any services can be delivered. Know Your Customer (KYC) documents may be required by HipBar from the Customer at the time of registration and/ or on a later date, for availing and / or continuation of the HipBar Wallet services.


  1. “Merchant Establishment” shall mean and include physical merchants, remote merchants and any other outlet that has been authorized by HipBar to accept payments using the HipBar Wallet.



  1. “Person-to-Person Transfer” refers to a facility that is availabletoonly to Prime Account holders, subject to the Terms, to transfer funds from one HipBar Wallet to any other HipBar Wallet or to any savings or current bank account.


  1. “PPI” means a pre-paid payment instrument.


  1. “Prime Account” means a Customer HipBar Wallet which is KYC compliant and classified as a semi-closed system payment instrument which permits Person-to-Person Transfers and payments to all identified merchants as per the RBI master direction on Issuance and Operation of Pre-paid Payment Instruments in India dated October 11, 2017 as amended and supplemented by the RBI from time to time.The amount outstanding in such PPIs, at any point of time/The amount Loaded and/or total amount debited in such HipBar Wallets during any month shall not exceed INR 1,00,000 (Rupees one lakh).


  1. “RBI” means the Reserve Bank of India.


  1. “Successful Registration” means a sign-up with minimum details. The minimum details shall include mobile number verified with One Time Pin (OTP) and self-declaration of name and unique identification number of any of the ‘officially valid documents’.


  1. “SLA” means a service level agreement, i.e., the number of days within which a complaint by a Customer has to be resolved by HipBar.


  1. “Transaction” means and includes Person-to-Person Transfers, purchase of goods or services at Merchant Establishments, and / or money being loaded into the HipBar Wallet.



Documentation

  1. The collection, verification, audit and maintenance of correct and updated Customer information is a continuous process and HipBar reserves the right, at any time, to take steps necessary to ensure compliance with all relevant and applicable KYC requirements. HipBar reserves the right to discontinue services/ reject applications for a HipBar Wallet at any time, if there are discrepancies in the information and/or documentation provided by You.


  1. Any information provided to HipBar with the intention of securing a HipBar Wallet shall vest with HipBar and may be used for any purpose consistent with Applicable Law, at its discretion.


  1. If the particulars provided by You in the KYC documents do not match with the details mentioned in the Enrolment Form, then You will not be eligible for a Prime Account.


General Conditions of HipBar Wallet


  1. You will be issued a Basic Account immediately after successful registration. Your account will be upgraded to a Prime Account only after You submit Your KYC documents, which could be at the time of registration itself, or at a later date (see point 2 below), and the same are verified and approved by HipBar. HipBar Wallet Prime Account services shall ordinarily be activated within Four (4) working days of receipt and verification of the associated documentation. For detailed features, registration process, documentation processes, KYC requirements, permitted Transactions, service discontinuation procedure and other related details relating to the above-mentioned services, please write to [email protected]


  1. A Basic Account holder will not be permitted to open another Basic Account in the future using the same mobile number and email address.


  1. A Basic Account shall be converted into a Prime Accountwithin a period of 18 months from the date of issue of the Basic Account, by submitting Your KYC documents, failing which no further credit shall be allowed in such a Basic Account. However, You shall be allowed to use the balance available in the Basic Account HipBar Wallet.


  1. HipBar Wallets are reloadable and issued only in electronic form.


  1. You may recharge Your HipBar Wallet through any of the methods mentioned in HipBar's mobile application. The methods of recharging the HipBar Wallet are subject to change at the discretion of HipBar without prior intimation to the Customer.


  1. You may note that withdrawing money from the HipBar Wallet is not allowed. Any outstanding credit in the HipBar Wallet must be utilized only to make payments for bonafide Transactions at Merchant Establishments.


  1. HipBar Wallets are available only to Indian residents of legal drinking age in the respective state of domicile


  1. HipBar Wallets are not transferable.


  1. HipBar Wallet Prime Account: The maximum monetary value that can be stored at any point of time in a HipBar Wallet Prime Account is INR 1,00,000 (Rupeesone lakh). The maximum permitted value of Transactions at any point of time in HipBar Wallet Prime Account in a month is INR 1,00,000 (Rupees one lakh). The amount outstanding in a Prime Account, at any point of time, shall not exceed INR 1,00,000 (Rupees one lakh).


HipBar Wallet Basic Account: The maximum monetary value that can be stored and utilized in a month in a HipBar Wallet Basic Account is INR 10,000 (Rupees ten thousand). The total amount loaded during the financial year shall not exceed INR 1,00,000 (Rupees one lakh). The amount outstanding in a Basic Account, at any point of time, shall not exceed INR 10,000 (Rupees ten thousand).


Subject to the guidelines/notifications issued by RBI from time to time these limitations may be reviewed and modified at the discretion of HipBar without prior intimation to the Customer.


  1. HipBar reserves the right to suspend/discontinue the HipBar Wallet services to You at any time, for any cause, including, but not limited, to the following-


  1. The value stored on Your HipBar Wallet shall be refunded only in accordance with the procedure set out in these Terms or may only be utilized to make payments for bonafide Transactions at Merchant Establishments.


  1. No interest will be payable by HipBar on the available balance reflected on any of theHipBar Wallets, whether it is a Prime Account or a Basic Account.


  1. You are permitted to maintain and operate only one HipBar Wallet. Any suspected non-conformity with this requirement shall be just cause for the suspension/ discontinuation of any/all HipBar Wallets associated with You by HipBar.


  1. Basic Account holders will be given an option to close the HipBar Wallet at any time and the withdrawable balance, at the time of closure, shall be transferred at the request of the Basic Account holder to the Basic Account holder's own bank account (duly verified by HipBar), after complying with the KYC requirements of the Basic Account holder. The Basic Account holder shall also be entitled to transfer the withdrawable balance "back to source" (i.e., the payment source from where the Basic Account was loaded) at the time of closure.


  1. Similarly, Prime Account holders will also be given an option to close the HipBar Wallet and transfer the withdrawable balance as per the applicable limits of the HipBar Wallet Prime Account. For this purpose, HipBar would provide the Prime Account holder with an option (including at the time of issuing the HipBar Wallet) to the Prime Account holder to provide details of a pre-designated bank account or to another HipBar Wallet (or to the wallets of other PPI issuers as and when permitted), to which the withdrawable balance available in the HipBar Wallet Prime Account shall be transferred in the event of closure of the Prime Account.


  1. Refunds shall be provided to the HipBar Wallet holders who have closed their accounts with HipBar, within 15 days of their intimation / request for closure of their accounts.

HipBar Wallet Charges & Validity


  1. You shall pay the service charges prescribed by HipBar in the form and manner prescribed for such payment. HipBar may at its discretion, change, amend, increase or reduce the service charges without prior intimation to the Customer.


  1. You acknowledge that HipBar may at its sole discretion, but with adequate notice of 15 days, communicate the proposed charges for a platform subscription fee and adopt the same. HipBar Wallet holders who choose to opt out may do so within 15 days from the date of such noticeby closing their HipBar Wallets, and the HipBar Wallet withdrawable balances (if any) shall be refunded in accordance with these Terms.


  1. Any value in Your HipBar Wallet that is utilized towards making payments for any Transaction shall be automatically debited from Your HipBar Wallet. HipBar’s responsibility is limited to debiting Your HipBar Wallet and the subsequent payment to any Merchant Establishment that You might transact with. HipBar does not endorse, promote, campaign or warrant any goods that might be bought/availed or proposed to be bought/availed using the HipBar Wallet.


  1. HipBar reserves the right to levy charges/ charge a commission on any amounts loaded inYour HipBar Wallet or any amounts spent/utilized by You while using the HipBar Wallet.

Nature of Transaction

Charges

Loading money into wallet

Nil

Purchase at Merchant site

Nil

Wallet to Wallet transfer

Nil

Wallet to bank transfer (Prime Customer)

4%

Refund to Source account

Nil

Amount that will be transferred will be net of the charges mentioned above.

  1. HipBar reserves the right to set off any balance in Your HipBar Wallet in order to recover funds for Transactions processed as per Your request.


  1. Charges pertaining to transactions shall be in accordance with the RBI guidelines as applicable from time to time.


No financial transaction performed through the HipBar Wallet for a consecutive period of 1 year will render Your HipBar Wallet inactive. Such inactive HipBar Wallets can be reactivated only after proper validation and applicable due-diligence. Inactive Wallets cannot be recharged or withdrawn until reactivation as per procedure.


HipBar Wallet Refund Policy:

  1. All successful recharges that are made to HipBar wallet are final with no refunds/exchanges permitted.

  1. Users are responsible for all the purchases and transactions that are made using their respective HipBar Wallet through their registered mobile number.

  1. HipBar does not, at any point of time during any transaction between the User and the merchant / service provider, take ownership of any of the products / services provided by the merchant or assert any rights or claims over the products / services offered by the merchant to the User.

  1. The cancellation / refund, if any, will be governed as per the terms and conditions of the merchant. HipBar has no role in governing refund / cancellation charges. HipBar will not be responsible for refund / cancellation including any charges arising therefrom.

  1. However, if in a transaction performed by the User on HipBar Mobile App / Website and any amount has been charged to your card or bank account and the recharge to the respective HipBar wallet is not successful, the amount will be refunded back to the source as per the User’s bank policy. The amount will reflect in the User’s account within 5-7 working days from the date of transaction.

  1. The User can inform HipBar Customer Support team through In-App chat module in the mobile application or send an email to [email protected] with the details of the transaction (Bank name, Recharge value, Transaction date, Transaction reference number). HipBar, in turn, shall investigate the transaction and found that the money was charged to your card or bank account without a successful recharge, shall initiate the refund process and the money will be refunded within 5 to 7 working days from the date of communication to the same source of account that the User has used to recharge the wallet.

  1. Any refund / reversals initiated by the merchants in case of non-fulfilment or return of orders will be refunded back to the User’s HipBar Wallet.

  1. If the existing User has requested for the closure of HipBar Wallet, the withdrawable balance will only be transferred to the source of account (as per User’s bank policy) or to the User’s other bank account after duly verifying the KYC details of the User. Any non-withdrawable balance like cashback left in the User’s HipBar Wallet, shall be reversed.


Know Your Customer Compliance


KYC refers to the various norms, rules, laws and statutes issued by the RBI from time to time, including the RBI (Know Your Customer (KYC)) Direction, 2016, as amended or implemented from time to time. HipBar is required to procure personal identification details from You before any services can be delivered and at the time of registration and/ or on a later date, for availing and / or continuation of the HipBar Wallet, subject to Applicable Law and HipBar's privacy policy. You agree that:


  1. The collection, verification, audit and maintenance of correct and updated customer information is a continuous process and HipBar reserves the right, at any time, to take steps necessary to ensure compliance with all relevant and applicable KYC requirements;


  1. We reserve the right to discontinue services/ reject applications for the HipBar Wallet at any time if there are discrepancies in the information and/or documentation provided by You; and


  1. Subject to Applicable Law and HipBar's privacy policy, any information provided to HipBar, with the intention of securing HipBar Wallet, shall vest with HipBar, and may be used, for any purpose consistent with the Applicable Laws and HipBar's privacy policy, at its discretion.


Subject to the guidelines/notifications issued by the RBI from time to time, the KYC norms may be reviewed and modified at the discretion of HipBar without prior intimation to You.


Reporting of unauthorized Payment Transactions by Customers


  1. Customers should mandatorily register for SMS alerts and wherever available also register for e-mail alerts, for electronic payment transactions.


  1. SMS alerts for any payment transaction shall be sent to the customers. E-mail alerts may be sent if the email IDs are registered. The transaction alert will have the contact number or email id to which the customer can report unauthorized transactions or notify objections.


  1. Customers should notify unauthorised transactions at the earliest and shall also be informed that longer the time taken to notify HipBar, higher will be the risk of loss to HipBar/ Customer.


  1. HipBar provides customers with the contact details to report the unauthorised transaction/ or loss or theft. The contact details are available in the Customer grievance policy.


  1. The loss / fraud reporting system so established shall also ensure that immediate response (including auto-response) is sent to the customers acknowledging the compliant along with the registered compliant number. The communication systems used by PPI issuers to send alerts and receive their responses thereto shall record time and date of delivery of the message and receipt of customers response, if any. On receipt of the report of the unauthorised payment transactions, HipBar shall take immediate action to prevent further unauthorised payment transactions through the Prepaid Payment Instrument.


  1. Customer liability arising out of an unauthorised payment transaction will be limited to:

Customer liability in case of unauthorised electronic payment transactions through PPI

S. No.

Particulars

Maximum Liability of Customers

Contributory fraud/ negligence/ deficiency on the part of HipBar

Zero

(b)

Third party breach where the deficiency lies neither with HipBar nor with the Customer but lies elsewhere in the system, and the customer notifies the HipBar regarding the unauthorised payment transaction. The per transaction customer liability in such cases will depend on the number of days lapsed between the receipt of transaction communication by the customer of HipBar:

  1. Within three days#

  2. Within four to seven days#

  1. Beyond seven days#

Zero

Transaction value or INR 10,000/- per transaction, whichever is lower

Entire loss

(c )

In cases where the loss is due to negligence by a customer, such as where he/she has shared the payment credentials, the customer will bear the entire loss until he/she reports the unauthorised transaction to the PPI issuer. Any loss occurring after the reporting of the unauthorised transaction shall be borne by HipBar

# The number of days mentioned above shall be counted excluding the date of receiving the communication from HipBar

Reporting timeline for zero liability / limited liability of a customer


  1. On being notified by the Customer, HipBar shall credit the amount involved in the unauthorised electronic payment transaction to the Customer within 10 days from the date of such notification by the Customer, even if such reversal breaches the maximum permissible limit applicable to HipBar.


  1. HipBar shall ensure the complaint is resolved and liability of the Customer, if any established within a period not exceeding 90 days from the date of receipt of the compliant.


Customer Obligations


  1. HipBar Wallet availability is subject to the maintenance of an active mobile phone and / or internet connection with an associated telecom provider. HipBar Wallet availability is subject to the maintenance of a mobile phone handset and other software / hardware applications on which the services run. The Customer is solely responsible for all liability arising from the unavailability of services due to a mobile handset or internet service provider not supporting any HipBar Wallet channel or application.


  1. You must ensure the availability of sufficient funds before executing any Transaction from Your HipBar Wallet.


  1. You shall be solely responsible for the confidentiality, safety and security of the One Time Pin. You shall be the sole owner of the One Time Pin and shall be responsible for the consequences arising out of disclosure of the One Time Pin and/or the unauthorized use of the HipBar Wallet. In case the mobile phone/ SIM card associated with Your HipBar Wallet is lost/stolen/misplaced/ no longer in Your control, You shall promptly inform HipBar. HipBar will, upon receipt of such information, block the relevant account.


  1. You shall only use the HipBar Wallet for all Transactions with specific Merchant Establishments for the products/services available therefrom. The list of Merchant Establishments is available at https://gifting.hipbar.com and is subject to change at HipBar’s discretion without prior intimation.


  1. You shall not use the HipBar Wallet for any purpose that might be construed as contrary or repugnant to Applicable Laws, regulations, guidelines, judicial dicta, HipBar's policies or public policy or for any purpose that might negatively prejudice the goodwill of HipBar.


  1. You acknowledge and understand that the HipBar Wallet islinked to Your mobile phone number and You shall be solely responsible for any liability arising out of the loss/ theft / misuse of the mobile phone number or deactivation of the mobile connection by the concerned telecom service provider, in respect of the services.


  1. Information submitted by You for availing the HipBar Wallet and/or information submitted while using the HipBar Wallet may be shared with third parties by HipBar, inter alia, to facilitate the provision of the HipBar Wallet, subject to Applicable Law and the term of HipBar's privacy policy.


  1. HipBar Wallet Prime Account holders who have utilised the HipBar application for Gifting shall provide on demand, the full details of the ultimate beneficiary (who shall also be a HipBar Wallet Prime Account holder), for the purpose of furnishing the same to the RBI or the government, as and when requested.


  1. You shall ensure that the services are not used for Transactions in any foreign currency. The HipBar Wallet is issued & shall be valid only in India and shall be used at Merchant Establishments only in India.


  1. Without limiting the foregoing, You agree that You will not use the HipBar application / website to undertake any of the following actions or to display, upload, modify, publish, distribute, disseminate, transmit, update or share any information that:

    1. is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another’s privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever;

    2. infringes any patent, trademark, copyright or other proprietary rights;

    3. contains viruses, corrupted files, or any other similar software or programs that is designed to interrupt, destroy or that may limit the functionality of any computer source or that may damage or adversely affect the operation of another person’s computer, its websites, any software or hardware, or telecommunications equipment;

    4. advertises or offers to sell any goods or services for any commercial purpose;

    5. is in the nature of promotional services, products, surveys, contests, pyramid schemes, spam, unsolicited advertising or promotional materials, or chain letters;

    6. falsify or delete any author attributions, legal or other proper notices or proprietary designations or labels of the origin or the source of software or other material;

    7. violates any law for the time being in force;

    8. belongs to another person andwhich You do not have any right to;

    9. interferes with or disrupts HipBar's website, servers, or networks;

    10. attempts to impersonate any other person;

    11. harm minors in any way;

    12. forge headers or manipulate identifiers or other data in order to disguise the origin of any content transmitted through its websites or to manipulate Your presence on its websites;

    13. engage in any illegal activities; or

    14. threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order, or causes incitement to the commission of any cognizable offence or prevents the investigation of any offence or insults any other nation.


Customer Protection and Grievance Redressal


Please refer to our customer grievance policy located here.