Terms & Conditions
These Terms & Conditions (“Terms”) constitute a legally binding agreement between Comfortify Enterprises, operating under the brand name Local Paisa (“Company”, “Local Paisa”, “we”, “our”, “us”) and the merchant, user, or entity (“User”, “Merchant”, “you”) accessing or using our Pay-In and Pay-Out payment gateway services.
By registering, accessing, or using Local Paisa services, you acknowledge that you have read, understood, and agreed to be bound by these Terms, our Privacy Policy, and all applicable laws of India.
1. Definitions
- “Pay-In” means the collection of payments from customers on behalf of the Merchant.
- “Pay-Out” means disbursement of funds to vendors, customers, employees, or third parties.
- “Services” means payment processing, settlements, refunds, dashboards, APIs, and related features.
- “Regulations” include RBI guidelines, AML, CFT, IT Act, and applicable Indian laws.
2. Eligibility & Onboarding
- 2.1 Users must be at least 18 years of age.
- 2.2 Merchants must complete KYC, KYB, and onboarding approval as required by applicable regulations.
- 2.3 Local Paisa reserves the absolute right to approve, reject, suspend, or terminate any account at its sole discretion.
3. Scope of Services
3.1 Local Paisa provides:
- Pay-In services to collect payments using supported payment modes.
- Pay-Out services to disburse funds to verified beneficiaries.
3.2 All transactions are subject to:
- Risk assessment
- Fraud monitoring
- Regulatory and partner bank checks
3.3 Local Paisa does not act as a bank or financial institution and does not hold customer funds beyond permitted settlement timelines.
4. Merchant Obligations
Merchants agree to:
- Provide accurate, complete, and updated information at all times
- Conduct business activities that are lawful and permitted
- Maintain proper transaction records
- Protect login credentials and API keys
- Comply with RBI, AML, CFT, tax, and other applicable regulations
5. Prohibited & Restricted Activities
The Services must not be used for:
- Fraud, money laundering, terrorist financing
- Prohibited or restricted business categories
- Misrepresentation, fake transactions, or circular trading
- Abuse of refunds, chargebacks, or dispute mechanisms
Local Paisa may hold settlements, suspend services, or terminate accounts in case of violation.
6. Fees, Charges & Taxes
- 6.1 Transaction fees and charges are mutually agreed upon during onboarding.
- 6.2 All fees are exclusive of applicable taxes, including GST.
- 6.3 Fees once charged are non-refundable, except as required by law.
7. Transaction Processing & Settlement
7.1 Settlement timelines depend on:
- Banking cycles
- Risk review
- Regulatory requirements
7.2 Local Paisa shall not be liable for delays caused by:
- Banks
- Payment networks
- Government or regulatory actions
8. Refunds, Chargebacks & Disputes
- 8.1 Refunds are governed by the Refund Policy.
- 8.2 Chargebacks are regulated by issuing banks and payment networks.
- 8.3 Merchants are responsible for providing required documentation.
- 8.4 Chargeback penalties or fees shall be borne by the Merchant.
9. Account Suspension & Termination
Local Paisa may suspend or terminate Services without prior notice if:
- False or misleading information is provided
- Suspicious, high-risk, or illegal activity is detected
- Required by law, RBI, or banking partners
Funds may be held until completion of investigations or regulatory clearance.
10. Data Protection & Confidentiality
- 10.1 User data shall be handled in accordance with the Privacy Policy.
- 10.2 Merchants must maintain confidentiality of all platform access credentials.
11. Limitation of Liability
To the maximum extent permitted by law, Local Paisa shall not be liable for:
- Indirect, incidental, or consequential damages
- Losses arising from merchant negligence
- Errors due to incorrect beneficiary or transaction details
- Force majeure events beyond reasonable control
12. Indemnification
Merchants agree to indemnify and hold harmless Local Paisa against any claims, losses, penalties, or damages arising from:
- Breach of these Terms
- Illegal or unauthorized use of Services
- Violation of applicable laws
13. Modification of Terms
Local Paisa reserves the right to modify these Terms at any time. Continued use of the Services constitutes acceptance of the updated Terms.
14. Governing Law & Jurisdiction
These Terms shall be governed by and construed in accordance with the laws of India, and courts in India shall have exclusive jurisdiction
10. Contact Details
📧 support@localpaisa.com
📍 Comfortify Enterprises, India
