Terms & Conditions
for Transakt
Who can use Transakt
You must be a business or sole proprietor with capacity to enter into a contract. You must comply with Indian law and any license or registration that applies to your industry. We may ask for KYC, business documents and any other data that law or our partners require. Refusal to provide accurate information can lead to rejection or suspension. This mirrors common KYC duties in India payment services.
Definitions
Account means your registered Transakt account.
Services means our UPI collection, instant payouts, BBPS, connected banking, travel booking payment flows, and any related dashboards, APIs, and support.
Merchant means the business that uses the Services.
End user means your customer or beneficiary.
Facility providers means banks, payment networks and other third parties that help us deliver the Services. Language aligned with industry terms of use.
Services overview
Transakt provides payment technology and connectivity to banks and payment networks. We are not a bank. We do not offer deposits or investment products. Some features are provided through our partners and remain subject to their rules.
UPI collection
You can collect payments using UPI QR, intent, and collect requests. UPI transactions and related disputes follow the NPCI rules and the escalation path defined by NPCI.
Instant payouts
You can disburse funds to bank accounts or UPI handles subject to limits, risk checks and partner availability.
BBPS
Bill payment flows follow RBI and BBPS procedural rules and any authorization that applies to the BBPS participants involved.
Connected banking
Balance, statement and reconciliation features depend on your bank connections and bank uptime.
Travel booking payments
Collections, refunds and adjustments for travel follow partner and airline or OTA rules as applicable.
Your obligations
Use the Services only for legal business activity.
Publish clear terms, prices and refund rules to your end users.
Complete KYC and ongoing checks when asked and keep your information current.
Keep your account credentials and API keys secure.
Accept responsibility for content, products and services you sell.
Follow all network rules that apply to the flows you use, such as UPI and BBPS rules.
Prohibited uses
You may not use the Services for unlawful activity, deceptive practices, gambling where restricted, counterfeit items, sale of personal data, or any use that our partners or regulators forbid. We may update this list at any time to reflect law or partner policy. High level approach is consistent with India gateway terms.
Fees, taxes and settlement
We will show your fee plan in the dashboard or in your order form. Fees may include per transaction fees, payout fees, BBPS charges and monthly platform fees. We may change fees with notice as allowed by law.
You are responsible for all taxes, including GST, on your use of the Services.
Settlement timelines depend on the payment method, risk checks, bank settlement windows and public holidays. We may hold funds or delay settlement if we detect risk, disputes or compliance issues.
Refunds, chargebacks and disputes
You control refunds to your end users through the dashboard or APIs. Where network rules provide for auto reversal or compensation, those rules will apply. For UPI, users raise disputes in the app and the complaint moves through TPAP, PSP bank, issuing bank and then NPCI in that order. For BBPS, compensation and reversal follow the BBPS and RBI procedural framework.
Data protection and security
We handle personal data and payment data to deliver the Services. We follow Indian IT Act requirements and the SPDI Rules that require reasonable security practices and controls for sensitive personal data. We also follow partner security expectations and any RBI directions that apply to authentication and risk based checks for digital payments.
You must also protect your systems, use strong access controls, rotate keys, and notify us right away if you suspect a breach.
We may log and use data to prevent fraud, meet legal duties and improve the Services.
Authentication and fraud controls
We use multiple layers of authentication and fraud monitoring. We may change authentication flows to follow RBI directions and partner rules, including two factor authentication and risk based checks as they come into force.
We may place limits, hold funds or suspend features if we see unusual activity or higher fraud risk. This approach is consistent with aggregator guidance reported by reputable outlets.
Uptime, support and changes
We aim for high availability but do not promise uninterrupted service. We will schedule maintenance windows where needed.
Support hours and response targets are listed in the dashboard. Critical issues can be escalated to our on call team.
We may change or discontinue features to comply with law or partner rules. We will try to give reasonable notice.
Intellectual property
We own the Services, the software and all related content. You get a limited right to use the Services for your business. You may not copy, reverse engineer or resell the Services.
You keep all rights in your trademarks, content and data. You grant us a limited license to use your marks to show that you use Transakt, unless you opt out by sending notice.
Third party services
Some features connect to banks, billers, travel partners, or other platforms. Their terms apply in addition to ours. We are not responsible for their content or actions.
Confidentiality
Both parties must keep non public information confidential and use it only to deliver or receive the Services.
Indemnity
You will defend and indemnify us, our directors, employees and partners against claims, losses and costs that arise from your use of the Services, your content, your breach of these Terms or law, or disputes with your end users.
Warranties and disclaimers
We provide the Services on an as is and as available basis. We do not promise that the Services will meet your needs, be error free or be available at all times. To the extent allowed by law, we disclaim all implied warranties.
Limitation of liability
To the extent allowed by law, our total liability for any claim in a year will not exceed the fees you paid to us in the three months before the event that gave rise to the claim. We are not liable for lost profits, business interruption or any indirect or special damages.
Term and termination
These Terms start when you accept them and continue until ended. Either party may end the Services by giving written notice. We may suspend or end the Services immediately if you breach these Terms, fail KYC, use the Services for restricted activity, or if required by law or a partner.
After termination we may keep records for law and audit. You must stop using the Services and pay any amounts due.
Compliance and audits
You must cooperate with audits by us, our partners or regulators. You must keep records that law or partner rules require and share them when asked. This includes rules that apply to BBPS and UPI participants.
Force majeure
We are not liable for delay or failure caused by events outside our reasonable control, such as network outages, bank downtime, acts of God, war, strike, or government actions.
Governing law and dispute resolution
These Terms are governed by the laws of India. Any dispute will be settled by binding arbitration under the Arbitration and Conciliation Act, 1996 by a sole arbitrator appointed in line with that Act. The seat and venue will be [Bengaluru or Mumbai] and the language will be English. Courts at that seat will have exclusive jurisdiction for interim relief.
Changes to these Terms
We may update these Terms. We will post the revised Terms on our website and update the date at the top. If changes are significant, we will try to give advance notice. Continued use of the Services after changes means you accept the new Terms.