Terms & Conditions

LivQuik Technology (India) Private Limited, (herein referred to as “LivQuik”, “we”, “us”, “our”, “PPI issuer” or ‘the Company’) is a company incorporated under the laws of India and having its registered office at C-15, Sriram Nivas, 1st Floor, Secretariat Colony, Thiruvalluvar Nagar, Alandur, Chennai, Tamil Nadu, India - 600016. The Company is an authorized issuer of Prepaid Payment Instruments (“PPI”) in accordance with the provisions of the Payment and Settlement Systems Act, 2007 and directions framed under the Master Directions on Master Directions on Prepaid Payment Instruments issued by the RBI (“PPI Master Directions”).

This Agreement is a contract between You and LivQuik And governs Your use of LivQuik’s mobile payment and digital wallet application and all related services (collectively referred to as, “LivQuik”). By downloading/using LivQuik, you-implicitly agree with, and accept all the Terms And Conditions of this agreement. Your use of LivQuik communicates your acceptance of this Agreement, as it may be modified from time to time. When You accept this Agreement, You also accept LivQuik’s Customer Grievance Policy ( https://livquik.com/ppi/grievance-policy/ ), KYC Policy, Privacy Policy ( https://livquik.com/ppi/privacy-policy/ ) and LivQuik’s E-Sign Policy.

LivQuik reserves the right to modify this Agreement and any other applicable LivQuik agreements or policies relating to LivQuik at any time in its sole and absolute discretion by posting the modifications on LivQuik’s Website. Your use of LivQuik after the posting of any modification on LivQuik’s Website constitutes Your acceptance of the modification. It is Your responsibility to visit LivQuik’s Website on a regular basis to obtain the latest updates of this Agreement. You can always find the most recent, updated versions of this Agreement on LivQuik’s Website.

TERMS & CONDITIONS FOR USAGE OF LivQuik

Users availing the services of LivQuik’s Pre-Paid Payment Instrument (“PPI”), herein referred as “LivQuik” are advised to read the terms and conditions (“T&Cs”) carefully before registering, accessing, or using LivQuik. These T&Cs will construe as a legal contract ("Agreement") between the users (herein referred to as “You” or “Your”) and LivQuik. You may decide to abstain from using the services and/or immediately terminate the services, in the event You do not agree or do not wish to be bound with the aforementioned T&Cs. Registering and using the Company’s PPI, will tantamount to acceptance and unconditional agreement to the T&Cs and bind You by all of these terms. We reserve the right to amend the terms and conditions at any time. We will ensure to post the updated version at our website(s) and app(s) and such updates shall take effect immediately upon posting. Usage of the LivQuik following the posting of changes will mean that You accept and agree to the revisions.

In relation to these T&Cs:

  • All references to singular shall include plural and masculine gender shall include feminine gender.
  • The clause headings are only for convenience and do not affect the meaning of the relative clause
  • All references to the term ‘include’, ‘includes’, ‘including’ will be construed without any limitation
  • If any provision hereof is held to be illegal, void or unenforceable by any court of competent jurisdiction, such provision shall be deemed to be deleted here from and the remaining T&Cs shall continue in force and effect.

DEFINITIONS

In this document, the following word and phrases shall have the following meanings:

  • “Agent” means the entities who, on behalf of LivQuik, facilitate loading/reloading of PPI issued by LivQuik to the customers.
  • “Available Amount” means the amount available in LivQuik at a given point of time for use by the LivQuik Account Holder, being a sum of amount(s) deposited in LivQuik as reduced by (a) the amount(s) utilized by using LivQuik for transaction(s) and (b) fees, costs and expenses as charged by LivQuik.
  • “Add-on card” means a supplementary card, issued to a person/s with the instruction and agreement of the Primary user, within the limits and liability of the latter. These cards are enabled with interoperability features.
  • Customer” means the user who has availed LivQuik’s PPI for purchase of goods and services. The words “User” or “You” or “Your” or “Customer” are interchangeably used in this T&Cs.
  • “Co-branded card” is a network enabled card that is issued jointly by a LivQuik, and a partner entity known as the co-branding partner. LivQuik shall at all times be responsible for all the issuance and operations of such co-branded card.
  • “Enterprise” shall mean any company, partnership firm and/or sole proprietorship firm that desire to utilize the facility of LivQuik provided by LivQuik to its employees/consultants/distributors as the case may be. Co-branding partner will also be considered as an Enterprise.
  • “FASTag” refers to the tag based on radio-frequency identification technology (RFID) that will be affixed on a vehicle’s windscreen. This program is part of the National Electronic Toll Collection (NETC) initiative rolled out by National Payments Corporation of India (NPCI).
  • “FASTag wallet” refers to a reloadable sub-wallet which will be created under a LivQuik account of the customer.
  • “Full-KYC PPI” shall mean the PPI, wherein the customer has provided appropriate information as per the applicable KYC Norms prescribed by the RBI from time to time.
  • “Gift PPI” means such non-reloadable prepaid gift instruments whose maximum value will not exceed INR 10,000 and from which fund transfers and cash withdrawals will not be permitted.
  • Grievance” means complaint, claim, issue, etc. lodged by LivQuik’s users w.r.t. PPI services provided by LivQuik “Know Your Customer (KYC)” refers to the details and documents obtained by LivQuik as defined in the KYC Policy of LivQuik for the purpose of issuing Full-KYC PPIs to the users.
  • “KYC Norms” refer to the Master Direction - Know Your Customer (KYC) Direction, 2016 as updated from time to time issued by the RBI.
  • “Merchant” means an establishment which has an arrangement with LivQuik or the card networks to accept and honour LivQuik, for paying consideration for sale of goods and services by the merchant to the LivQuik Account Holder. Merchants shall include amongst others, stores, shops, restaurants, transport organizations as onboarded from time to time by LivQuik
  • “Offer(s)” include vouchers, coupons, discounts or other valuable content that can be redeemed at a participating merchant location
  • “Officially Valid Document” (OVD) means the passport, the driving licence, proof of possession of Aadhaar number, the Voter's Identity Card issued by the Election Commission of India, job card issued by NREGA duly signed by an officer of the State Government and letter issued by the National Population Register containing details of name and address
  • “Password” means the alphanumeric string required for authenticating the use of LivQuik on a mobile or web platform offered by LivQuik or chosen by LivQuik Account Holder from time to time.
  • “Politically Exposed Persons” (PEPs) are individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials.
  • “PPI” or “LivQuik” means and refers to prepaid instrument issued by LivQuik in the form of wallets, cards, and gift instruments (including sub-wallets), that can be used by the customers on LivQuik’s platforms to make payments for their purchases from merchants, or for transferring of funds from one PPI to another, or for any other purpose as specified from time to time. These PPIs may be reloadable or non-reloadable. The term “LivQuik” and “PPI” have been interchangeably used in this document.
  • “PPI services” means the scheme under which the PPI is issued by LivQuik, including but not limited to enabling of payments to merchants for the products/services availed by the customer using wallet or card, wallet to wallet transfers, wallet to bank transfers, etc.
  • “Primary user” means a person to whom a PPI card is issued and who is the owner of the Add-on PPI card issued to a dependent / child. Primary card holder will be liable for the acts of the holder of Add-on PPI cards.
  • “LivQuik Account” means the account opened in the name of an applicant and maintained by LivQuik for the purpose of usage of the account as per the T&Cs contained herein.
  • “LivQuik Account Holder” means an individual / entity who has acquired a LivQuik Account for purchase of goods, services and remittances.
  • "RBI" means the Reserve Bank of India.
  • “Small PPI” shall mean the PPI, wherein the customer has provided minimum details as required by or under applicable regulations.
  • “Sub-wallet” refers to a separate wallet created within your PPI or LivQuik, and will be subject to combined limits depending on the type of PPI.
  • “Transaction” means either a debit or credit activity as appearing in the LivQuik Account.

ELIGIBILITY AND ACCOUNT REGISTRATION

LivQuik reserves the right to determine Your eligibility for availing PPI services. You will be eligible to register and use the LivQuik only if You have fulfilled the below conditions:

  • You have attained 18 (eighteen) years of age;
  • You are a citizen of India, Indian Resident, and Tax Resident of India (under the Applicable Laws) and of no other country
  • You are eligible to enter into a contract under the applicable laws
  • You have not impersonated any person or entity, or falsely misrepresented Your identity, age or any other information as relevant.
  • You do not fall under the category of a politically exposed person as prescribed by the RBI.
Note: If You are a minor and if You wish to avail our PPI services, such services may be availed by Your legal guardian or parents who have registered on our platform.

In case any violation is observed or if we have enough reason to believe that Your account is being used by any person who does not meet the eligibility criteria, LivQuik reserves the right to immediately suspend or terminate or permanently prevent You from availing LivQuik’s services and take any appropriate action under applicable laws.

We will bear no liability if You or anyone who uses Your LivQuik Account is found to be ineligible and will completely rely on Your representation that You are eligible. Further, in the instance wherein it comes to our notice that any fraud charges have been raised against You or Your account by banks, merchants or any other parties, we reserve the right to indefinitely suspend/ terminate Your LivQuik Account.

ACCOUNT REGISTRATION

You can register as a customer on our platform post fulfilling the following conditions:

  • Submit certain personal Information, including but not limited to Your name, mobile number, e- mail Address, date of birth, and Unique Identification Number (UIN) to LivQuik. For FASTag issuance, you may additionally be required to submit vehicle details such as photograph of vehicle with FASTag affixed on it, or any other documents for FASTag activation as we may deem fit.
  • During the registration process, or when You access the QuikWallet mobile application from a phone, Your phone’s device ID may be stored. By virtue of this T&C, You permit LivQuik to obtain and verify and store such data obtained, for a period of 5 (five) years from the date of termination of Your LivQuik Account.
  • Further, You hereby authorize LivQuik, directly or through third parties, to make any inquiries we consider necessary to validate Your identity and/or authenticate Your identity and account information. This may include asking You for further information and/or documentation about Your LivQuik Account usage or identity or requiring You to confirm identification by furnishing KYC documentation, ownership of Your email address, telephone number or financial instruments, among others.
  • Agree that the personal information You provide to LivQuik upon registration and at all other times, will be true, accurate, current and complete to the best of Your knowledge. In cases where the data provided by You is false, incomplete or dated, LivQuik will not be liable. It is Your responsibility to intimate LivQuik in cases where the said data needs to be updated.
  • In case there are any changes in the documents provided by You, You consent to provide the updated documents within 30 days of the update to such documents for the purpose of updating our records.
  • LivQuik shall have right to automatically renew the add-on cards which are actively transacting. By accepting the terms and conditions, you implicitly provide your consent for auto-renewal of your add-on card by LivQuik.
  • Consent to receive official communications on Your registered mobile number/ email address from LivQuik for the purposes of availing the PPI Services.
  • Maintain data confidentiality at all times with respect to Your credentials / login details. You will ensure to not share such data with any third party or any other person.
  • Understand that LivQuik may, if deemed necessary, set a different limit (lower than the RBI prescribed limits) basis the evaluation of the LivQuik holder.

You may register for LivQuik’s PPI services either directly from LivQuik’s website / mobile application or through an interface provided by an Enterprise. Such Enterprises will be associated through LivQuik either as a co-branding partner or as Agents for providing assistance in loading / re-loading of Your PPI.

You may have multiple PPIs and in different forms such as cards/ wallets under one account. Moreover, you may also have multiple sub-wallets under one account. The cumulative balance of your sub-wallets under such account, will be subject to the applicable limits, depending on the type of your PPI (as prescribed in Section 4). The Company will monitor such limits through a centralized database and reserves the right to place restrictions at the sole discretion of the Company.

TYPES & FEATURES OF PPI:

i. Small PPI (with cash loading facility)

  • Once You have registered for the PPI, we will communicate the features of such PPIs by SMS / e-mail or by any other means at the time of issuance of the PPI / before the first loading of funds.
  • Customer registered for this PPI will not be issued an additional PPI under the same mobile number.
  • You will be required to provide minimum details such as mobile number (verified through OTP), self-declaration of name and unique identification number of any mandatory document or OVD, at the time of onboarding.
  • You can use this PPI for purchasing goods & services from merchants and this is a reloadable product.
  • The limit for loading in such Small PPIs will be a maximum of INR 10,000 per month and maximum of INR 1,20,000 in a financial year
  • The Available amount in such PPIs shall not exceed INR 10,000 at any given point of time.
  • You will be allowed to load or reload using cash through our Agents in such PPIs up to a maximum of 10,000 per month.
  • You will be allowed to perform debit transactions in such PPIs up to a maximum of INR 10,000 per month.
  • You will not be able to transfer money or withdraw cash from such PPIs to other accounts.
  • The only instance in which transferring money out of such account is permitted, is during closure of Your PPI. You will be provided with an option to transfer any outstanding amount in the PPI back to the source, i.e., payment source from where the PPI was loaded. Alternatively, You may also be permitted to transfer the balance to a bank account, subject to compliance with the applicable KYC requirements.
  • You will be mandatorily required to convert such PPIs into Full-KYC PPIs "as defined in paragraph 5(iii)" by providing requisite KYC information / documentation as may be prescribed under applicable laws, within a period of 24 months from the date of issue of the PPI. If You fail to complete Your KYC as prescribed, You will not be permitted further credit in Your PPI. However, You will be permitted to use the Available amount in Your PPI.

ii. Small PPI (without cash loading facility)

  • Once You have registered for the PPI, we will communicate the features of such PPIs by SMS / e-mail or by any other means at the time of issuance of the PPI / before the first loading of funds.
  • Customer registered for this PPI will not be issued an additional PPI under the same mobile number
  • You will be required to provide minimum details such as mobile number (verified through OTP), self-declaration of name and unique identification number of any mandatory document or OVD, at the time of onboarding.
  • You can use this PPI for purchasing goods & services from merchants and this is a reloadable product. You will be able to load such PPIs only from a bank account or credit card or Full-KYC PPI, as maybe permitted.
  • The limit for loading in such Small PPIs will be a maximum of INR 10,000 per month and maximum of INR 1,20,000 in a financial year
  • The Available amount in such PPIs shall not exceed INR 10,000 at any given point of time.
  • You will be allowed to perform debit transactions in such PPIs up to a maximum of INR 10,000 per month.
  • You will not be able to transfer money from such PPIs to other PPIs
  • The only instance in which transferring money out of such account is permitted, is during closure of Your PPI. You will be provided with an option to transfer any outstanding amount in the PPI back to the source, i.e., payment source from where the PPI was loaded. Alternatively, You may also be permitted to transfer the balance to a bank account, subject to compliance with the applicable KYC requirements.

iii. Full-KYC PPIs

  • Once You have registered for the PPI, we will communicate the features of such PPIs by SMS / e-mail or by any other means at the time of issuance of the PPI / before the first loading of funds.
  • You can also avail Full-KYC PPI or convert Your existing Small PPI into a Full-KYC PPI by providing the requisite KYC documentation as per applicable laws and as per the KYC Policy of LivQuik.
  • You can write to us on support@livquik.com or use the mobile app, in case You are interested to upgrade Your PPI to Full-KYC PPI.
  • You will be able to load/ reload such PPIs and the outstanding amount in such PPIs shall not exceed INR 2,00,000 at any given time. You may load/ reload such PPIs using cash for up to a maximum of INR 50,000 per month
  • You will be able to withdraw cash from such PPIs up to a maximum limit of INR 2,000 per transaction within an overall limit of INR 10,000 per month per PPI across all channels (agents, ATMs, PoS devices, etc.as the case maybe).
  • You will be able to transfer the funds ‘back to source’ (payment source from where the Full-KYC PPI was loaded) or ‘own bank account’, post verification at our end.
  • You will have the option of registering beneficiaries by providing their bank account details or details of PPIs (issued by LivQuik or any other issuer). In case of such pre-registered beneficiaries, the fund transfer per beneficiary shall not exceed INR 2,00,000 per month.
  • LivQuik shall fix limit for transferring funds to the pre-registered beneficiaries and transferring funds back-to-source/own bank account as per risk category of the PPI holder. The fund transfer limits for un-registered beneficiaries shall be restricted to INR 10,000 per month.
  • There is no separate limit on purchase of goods and services via Full-KYC PPI.
  • You will be provided the option to close the PPI and transfer the Available amount as per the applicable limits of such PPIs. At the time of LivQuik issuing the PPI to You, You may be asked to provide details of Your pre-designated bank account or other PPIs issued by LivQuik to which You wish to transfer the Available amount in Your PPI.
  • In case You have upgraded to Full-KYC using Aadhaar OTP based e-KYC:
    1. the Available amount in Your PPI will be restricted INR 1,00,000 at any point in time and INR 2,00,000 in a financial year.
    2. You declare that You have not / will not open any additional account using this mode
    3. Within a period of one year, You will be required to undergo KYC either through V-CIP or Biometric.

iv. Gift PPIs

  • Once You have registered for the PPI, we will communicate the features of such PPIs by SMS / e-mail or by any other means at the time of issuance of the PPI / before the first loading of funds.
  • The maximum value of Your Gift PPI will not exceed INR 10,000
  • You cannot reload Gift PPIs
  • You will not be permitted to make cash outs or fund transfers from Your Gift PPIs. However, the funds may be transferred ‘back to source account’ (account from where Gift PPI was loaded) after receiving Your consent.
  • You can purchase such Gift PPI via debit to their bank accounts and /or credit cards without undertaking a separate KYC process
  • These PPIs will be revalidated (including through issuance of new PPI) as and when requested by You
  • You cannot have more than 10 (Ten)Gift PPIs at any point in time.

v. FASTag Wallet

  • Your FASTag will be linked to your LivQuik within which a sub-wallet will be created. Such sub-wallet will be used to facilitate automatic deduction of toll/parking charges, etc.
  • The limits for loading / reloading / outstanding balance will depend on the type of your PPI (i.e., Small or Full KYC PPI) and accordingly applicable limits will apply to the combined limit of your LivQuik and FASTag Wallet.
  • You will not be permitted to undertake fund transfer or cash withdrawal from your FASTag Wallet.

vi. Co-branded PPIs

  • You will be issued such PPIs jointly or in cooperation with any other organization or Enterprise who will be the co-branding partner.
  • These co-branded PPIs may be reloadable or non-reloadable as per the arrangement with the Enterprise. These PPIs can be in the form of wallet and/or cards as may be agreed between LivQuik and the Enterprise
  • Further, there may be restriction on usage and limits to such co-branded PPI, depending on the use case and the product proposition agreed between LivQuik and the Enterprise
  • The limits on such PPIs will be as per the category of PPI issued to You.
  • You will have resort to LivQuik’s grievance redressal mechanism for any disputes related to such co-branded cards.

vii. Add-on card

  • Add-on cards will be issued to wallet PPI holders, also known as Primary users. These may be issued to You for personal/ business use, if specifically requested by You.
  • You can provide such an Add-on card to Your child / dependent/ any other user as the case may be. The Add-on card is linked to the wallet of the Primary user.
  • The Primary user will have the complete access rights and can view all transactions done by the child/ dependent/ any other user. The Primary user can also set limits for such child/ dependent or restrict the usage for the Add-on card
  • The limits for such Add-on cards will be by default set to the limits for the type of PPIs under which it has been issued. Any grievance related to Add-on card will be raised only by the Primary user.

The PPI services provided to You as a Full-KYC customer will be interoperable in nature. Interoperability will be provided in the following two ways:

  • issuing network powered cards such as Visa / Mastercard/ Rupay cards that are EMV Chip and PIN compliant and facilitate usage of such cards at the entire acceptance infrastructure enabled by such card networks and
  • through UPI for PPI-to-PPI transactions between LivQuik Account holders and PPI wallets and merchants of another issuer.

LivQuik will be guided by the guidelines issued by NPCI and the regulations of the respective card networks while providing such interoperability facility.

SECURITY OF THE PPI

  • LivQuik will initially ask You to generate a password for Your safety. The password must be entered only when prompted by LivQuik or third-party platforms to authenticate any transaction.
  • You will be required to enter Your PIN/ password for all wallet transactions (such as debit to the wallet and cash withdrawal transactions).
  • We may for the safety and security of Your PPI, put in place appropriate controls and checks to restrict multiple invalid attempts to login / access Your PPI, inactivity, periodic timeouts, etc.
  • You will receive alerts immediately upon debit and credit transactions done through Your PPI. The said alerts will also indicate the Available amount in Your PPI after completion of the said transaction. In case the transaction is not undertaken by You, You must report the same to us immediately.
  • Your PPI cards will be enabled with the facility to switch on / off Your card or set / modify the transaction limits across multiple channels.
  • You will be responsible for the security of Your PPI and ensure all steps towards safekeeping and authorized use of Your PPI. You shall not disclose the password to anyone verbally, or in writing nor record it elsewhere. Cases where confidential data with respect to Your LivQuik Account is shared by You with any third party resulting in unauthorized use of Your account, LivQuik will not take responsibility for any claims, damages or liabilities arising thereof. In instances where You want to report about any unauthorized use / access to Your account, You may either write to us at support@livquik.com or call us on our 24x7 toll free number or report the same on the direct link provided on our website /mobile application, The detailed reporting procedure and LivQuik’s liability and with respect to unauthorised payment transactions is delineated in the Customer Grievance Redressal Policy available on the LivQuik’s website.
  • In case of Add-on cards, the ultimate responsibility for security and maintaining confidentiality and accountability is that of the primary user. The primary user shall be liable for all acts and transactions done by the holder of Add-on cards. It is to be ensured by the primary user, that the password, login details and other confidential information with respect to the PPI/ Add-on card is not compromised in any manner.
  • Your account will be non-transferable and the same will be deemed to be incapable of being sold.
  • In case co-branded cards, You acknowledge that LivQuik will not be responsible for and does not make any commitment for the provision of access to the co-branding partner’s platform, including any risks and costs associated therein with, or the services being provided in an undisrupted and error-free manner
  • LivQuik reserves the right to impose such other security measures as we may deem fit, including but not limited to putting in place a cooling period before conducting various transactions, reduce and/or modify the re-loading limits and such other limits as may be prescribed in relation to Your PPI.
  • Change in mobile number – In case you have lost your phone or SIM card, you are required to immediately report it by contacting us on our customer care number. Upon receipt of such request, our support executive will ask you to share certain details for verification purposes
  • Once you have shared the requisite information, we will validate your details and temporarily block your account for safety reasons.
  • We will then investigate the issue and upon successful verification, unblock your account and register your alternate/ new number as the primary number for your PPI. Please note that LQ will never call/ text/ email You for information such as login credentials, PIN or ask for Your personal and bank details. In case You share such information with fraudsters You agree that LivQuik will not be responsible for any loss arising out of such circumstances. Accordingly, You are requested to abstain from sharing any such information or clicking on any suspicious / phishing links.

VALIDITY OF PPI

  • Your PPI will be deemed to be valid and operational except if it is surrendered, cancelled or forfeited.
  • Your Small (with and without cash loading facility) and Full-KYC PPI will have a perpetual validity. In case you wish to terminate/ close your account, you may submit a request to transfer the Available balance in the PPI your source account from where your PPI is loaded.
  • For PPIs in the form of Cards, they will be used until the date of validity or date of expiry as mentioned on the card. However, expiry of cards will not entail expiry of your PPI account.
  • Gift PPI will be valid for a period of one year from the date of issuance. Upon expiry of such term, any unused balance lying in the PPI for more than three years will be transferred to Profit and Loss Account unless claimed by the customer.
  • We will inform You at least 45 days prior to the date of expiry, in case Your PPI is nearing expiry by sending a communication in this regard via e-mail/SMS/phone/ notification or any other method of communication.

DEPOSIT/ LOAD OF PPI

  • The amount that can be deposited in the LivQuik Account is governed by policies laid down by RBI. These involve monthly limits, transaction limits as well as balance limits on the account.
  • In addition to RBI guidelines, LivQuik at its discretion, could impose further limits on the amount of money You deposit in Your account. Please see our FAQ for more details on limits. These limits may change from time to time on LivQuik sole discretion.
  • You can use multiple funding sources for depositing money in Your account. These sources could be but not limited to cash, credit cards, debit cards, net banking, UPI, transfer from another LivQuik Account, reload by an Enterprise etc.
  • Each funding source will have a different dispute resolution mechanism and the relevant mechanism will be followed, should Your transaction turn out to be unsatisfactory.
  • When You make a deposit, You are liable to LivQuik for the full amount of the deposit plus any fees if the deposit is later invalidated for any reason. This means that, in addition to any other liability, You will be responsible for the amount of the deposit, plus applicable fees if You lose a claim or a chargeback, or if there is a reversal of the deposit. If the owner of the funding source of a deposit later disputes the deposit or files a claim for a chargeback, the debit or credit card issuer or the originating bank (and not LivQuik), will determine whether the dispute is valid and to whom payment is due. You agree to allow LivQuik to recover any such amounts by debiting Your LivQuik Account balance. If there are insufficient funds in Your account to cover Your liability, You agree to reimburse LivQuik through other means. If LivQuik is unable to recover the funds from Your primary funding source, LivQuik may attempt to contact You, LivQuik may recover the funds from Your alternate funding sources or may take other legal actions to collect the amount due, to the extent allowed by applicable law.

INACTIVE PPI & CLOSURE/TERMINATION /SUSPENSION OF PPI

  • Your PPIs will be valid as per the validity period mentioned in Section 6 above.
  • Subsequent to expiry of the PPI, You may request us to initiate a refund of the outstanding PPI account balance, in the event that there is an outstanding balance in Your PPI. Upon receipt of such request, we will transfer the aforesaid balance to Your linked bank account or to any other bank account the details of which are provided by You at the time of initiating such refund, post complying with the applicable KYC requirements. In case where You do not perform any financial transactions on the PPI for a consecutive period 1 year, the PPI will be considered inactive. In such cases, we will inform You at least 11 months prior to such date to either transact or utilize any outstanding balances in Your PPI.
  • You will be able to reactivate/ renew Your account by contacting on our customer care number - 18003092225 from your registered mobile number or via sending an email on support@livquik.com. Post receipt of your re-activation request, we will verify your details depending on the type of your PPI. Upon successful verification process at our end, we will reactivate your PPI. In case your request for reactivation does not pass the necessary checks, LivQuik reserves the right to deny your re-activation request and we will inform you regarding the same over a call / email.
  • In case of any suspicion noticed by us, we hold the right to report Your account and transaction details to the concerned regulator/ Government or any other agency, if need be, and may also freeze/ unfreeze/ suspend/ place lower limits on Your PPI if we believe the Available amount in Your PPI is being or is likely to be used fraudulently, suspiciously, without authorization or is otherwise uncommon based on prior transaction activity / history and as per our internal controls.
  • We reserve the right to terminate Your PPI in case of any violation of this T&C document and the rules laid down herein or we have reasons to believe that You have violated any of the rules/ regulations laid down by the Government of India, RBI or any other applicable regulator.
  • We, at our sole discretion, reserve the right to either temporarily or permanently withdraw the privileges on the instrument and/or cancel the instrument at any time without giving any notice or assigning any reason thereof. In case of temporary withdrawal, the privileges may be reinstated by us as deemed fit. However, it is made distinctly clear, the withdrawal (temporarily or permanently) shall constitute automatic withdrawal of all attendant benefits, privileges and services attached to the instrument. However, You shall continue to be fully liable for all the charges incurred on the LivQuik prior to such withdrawal, together will all other applicable charges thereon, unless other specified by us.

GRIEVANCE REDRESSAL

  • You can reach out to us for resolution on account of grievances arising out of any of the following grounds:
    1. Unauthorized electronic fund transfer
    2. Unreasonable delay, refusal, or failure to transfer money from the PPI to Your "own bank account" or "back to source" when the PPI is closed or has expired
    3. Login, Password, PIN, Card Management related issues
    4. Unreasonable hold-up or inability to credit the PPI's loaded funds
    5. Amount debited from Your PPI, but goods /services not provided by the merchant
    6. Delay or failure to credit Your PPI in accordance with any applicable promotional offer(s) terms and conditions
    7. Any other issue in relation to our PPI or services faced
  • For information regarding the mode of raising grievances, the time frame for resolution, customer care contact details, nodal officer details and other aspects relating to grievance redressal, You may refer to the “Customer Grievance Redressal Policy” available on https://livquik.com/ppi/grievance-policy/#grievancepolicy|0

CHARGES FOR TRANSACTIONS

  • While most of the PPI services provided by LivQuik are without any charges, for certain transactions, LivQuik does charge a nominal fee to recover the cost, which shall be displayed on the mobile application before initiation of transaction.
  • The applicable fees and charges are subject to change from time to time. Any changes / amendments in the fee(s) and charge(s) will be communicated to the customers / merchants by either posting them on the website and mobile application or clearly showing it while undertaking the transaction.
  • FASTag PPI holders may be charged upto Rs. 100 as issuance fee.
  • Any government charges, or debits, or tax payable as a result of the use of LivQuik shall be Your responsibility.
  • Surcharges as charged by merchants will be applicable on transactions performed by card holders for certain merchant categories.
  • Amounts due and payable by You, if not paid separately shall be recovered by LivQuik from the Amount available.
  • The detail of fees and charges payable by the customers onboarded via co-branding arrangements may be viewed from the terms and conditions displayed on the Partner’s website and mobile application.

PAYMENT AND REFUNDS USING LivQuik

  • You will be eligible for refunds in Your PPI in case of failed / returned / rejected / cancelled transactions, to the extent that payment for refund claimed by You was originally made by debit to Your PPI. The refund will be eligible even if it results in exceeding the limits prescribed for Your PPI.
  • If the payment for transactions for which You are claiming refund was made using any other payment mode, the refund will not be credited to Your PPI.
  • You can choose to use the Available mount in Your PPI to pay merchants in exchange of some goods or services provided by the merchant.
  • If You are unsatisfied with the service provided by the merchant or have not received goods/ services promised by the merchant, then You can raise a dispute with us. Only upon first raising the grievance with the merchant and failing in receipt redressal of Your grievance from the concerned merchant, can You reach out to us. Any such dispute should be raised within a period of 30 days from the date of the payment.
  • LivQuik will be the sole arbitrator in disputes between the LivQuik Account Holder and the merchant. We will conduct an investigation within 7 working days from the receipt of the complaint. You may be required to furnish further information as deemed suitable by us, to evaluate the validity of Your dispute.
  • If the dispute is found valid, the amount charged for the payment will be refunded from the merchant and credited back to source However, if the dispute is ruled in the favour of the merchant, then Your payment will not be refunded to Your LivQuik Account and the dispute will be closed.
  • If You have a dispute with one or more LivQuik users or LivQuik participating Merchants relating to payment, LivQuik is not responsible for any such dispute and You hereby release Company (and our officers, directors, agents, joint ventures and employees) from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes.
  • You acknowledge and agree that this Agreement is between You and LivQuik, not with any third party (including, but not limited to, Apple®, Google®, any mobile carrier, or any Merchant (as defined above)), and that Company is solely responsible for the transaction processing services. Your use of the other services may be subject to separate agreements You may enter into with Your mobile device operating system provider (e.g., Apple, Google or Microsoft®), Your mobile device manufacturer (e.g., Apple, Samsung®), Your mobile service carrier (e.g., Airtel or Vodafone®), and other parties involved in providing Your mobile device service. Merchants as defined above, third party operating system providers such as Apple, Google, and Microsoft, Your phone or other mobile device manufacturer, Your wireless carrier or other network provider, any other product or service provider related to Your mobile device service are collectively referred to as “Covered Third Parties.” You agree to comply with all applicable third-party terms of agreement when using the third-party services. Company is not a party to those agreements and has no responsibility for the products and services provided by third parties.
  • Please note that LivQuik has opened its application programming interface (“API”), so You may be subject to agreements with third parties when using a service that was not created by LivQuik. We have no liability or responsibility for Your use of these third-party services.

COMPLIANCE WITH KYC

  • In case You opt to upgrade Your Small PPI into Full-KYC PPI, You may do so by providing the relevant documents as defined by Us and in line with the applicable regulations. This process may also entail fetching Your KYC data through various modes as permitted by the regulator.
  • You may be provided access to the following modes for completing Your KYC:
    1. Video based Customer Identification Process (V-CIP)
    2. Biometric e-KYC through agents (as and when enabled)
    3. Aadhar OTP based e-KYC (as and when enabled) or as may be prescribed by RBI from time to time.
    4. You may complete Your KYC process by clicking on the respective tabs (of KYC modes) available on our website / mobile application.

  • In such instances, by virtue of this T&C, You hereby authorize LivQuik to fetch such data and agree to the data sharing terms.
  • The KYC requirements are defined and updated from time to time by the regulator(s). All updates as and when rolled out, and if relevant to Your PPI, will be applicable to You.
  • The Full-KYC will be provided to You only upon adequate verification and review by us, and in line with the applicable regulations and directives.

In case You have upgraded to Full-KYC using Aadhaar OTP based e-KYC, within a period of one year, You will be required to undergo KYC either through V-CIP or Biometric process. Failure to do so may result in temporary suspension of your PPI and you will be required to re-activate / renew your PPI.

COMMUNICATION

  • Communications shared by us hereunder will be deemed to have been received by You within 24 hours of it being sent via e-mail or SMS at the e-mail address/ mobile phone number specified You at the time of registering with us. We will not be held accountable for delays in receipt of notice.
  • With regards to access to Your account statements (covering details such as date of transaction, debit / credit amount, net balance, description of transaction, etc.) You will be provided an option to generate / receive account statements for at least past 6 (six) months. Further, You will also be provided the transaction history for at least 10 (ten) transactions.
  • We will not accept or consider valid, any notices/ communications in nature of threat, intimidation or harassment for the purposes of this T&Cs
  • You will inform us promptly of any change in Your e-mail and/or registered address and/or telephone numbers or other information provided, and such change thereon will be considered by us after due verification.

OBLIGATIONS & COVENANTS

  • LivQuik Account Holder will be liable for all Transactions and for the related charges.
  • LivQuik Account Holder accepts that at his request and risk LivQuik has agreed to provide him the LivQuik & accepts full responsibility for all Transactions recorded by use of his LivQuik.
  • An instruction given by means of the LivQuik shall be irrevocable.
  • LivQuik Account Holder shall, in all circumstances, accept full responsibility for the use of the LivQuik, whether or not processed with his knowledge or his authority, expressed or implied.
  • LivQuik Account Holder irrevocably authorizes LivQuik to debit the amounts utilized by using the LivQuik for Transactions to his LivQuik Account.
  • You agree that you will not use your LivQuik FASTag for payment of any illegal/ unlawful purposes.
  • LivQuik Account Holder should hold LivQuik indemnified and harmless for its actions in good faith and in the normal course of business based on Transactions.
  • LivQuik will employ its best efforts in carrying out the Transactions but will not incur any liability either to the LivQuik Account Holder or any other person for any reason whatsoever including for its delay or inability to carry out a Transaction or an instruction.
  • LivQuik reserves the right at any time to charge the LivQuik Account Holder any fees/ charges for the transactions carried out by You on LivQuik. Details of applicable fees and charges as mentioned in Tariff Annexure and are subject to change from time to time.
  • Amounts due and payable by LivQuik Account Holder, if not paid separately shall be recovered by LivQuik from the Available Amount.
  • LivQuik may at its sole discretion withdraw or suspend LivQuik or amend any of its features without notice to the LivQuik Account Holder.
  • LivQuik shall have discretion for not to allow the Account Holder to carry out a transaction where it has reason to believe that the use of LivQuik is not authorized or the Transaction appears not genuine or unclear or such as to raise a doubt.
  • LivQuik Technology (India) Private Limited, at its sole discretion, reserves the right to either temporarily or permanently withdraws the privileges on the instrument and/or cancel the instrument at any time without giving any notice or assigning any reason thereof. In case of temporary withdrawal, the privileges may be reinstated by LivQuik Technology (India) Private Limited as deemed fit. However, it is made distinctly clear the withdrawal (temporarily or permanently) shall constitute automatic withdrawal of all attendant benefits, privileges and services attached to the instrument. However, the Account Holder shall continue to be fully liable for all the charges incurred on the instrument prior to such withdrawal together will all other applicable charges thereon, unless other specified by LivQuik Technology (India) Private Limited.
  • Account balances held by You are held by LivQuik in an escrow account. These funds are not used operating expenses or any other corporate purposes and are not made available to our creditors in the event of bankruptcy. While Your funds are in our custody, LivQuik will combine Your funds with the funds of other users and place those pooled accounts in the escrow account in LivQuik’s name.
  • LivQuik will operate the escrow account in compliance with the applicable requirements as detailed in the PPI Guidelines.

INDEMNITIY & LIMITATION OF LIABILITY

  • You agree to will defend and indemnify LivQuik, its owner, licensee affiliates, subsidiaries, group companies (as applicable) and their respective officers, directors, agents, and employees, from and against any and all claims, costs, losses, damages, judgments, penalties, interest and expenses (including reasonable attorneys' fees), made by any third party or penalty imposed due to or arising out of Your breach of this T&C, Privacy Policy and other Policies, or violation of any law, rules or regulations or the rights (including infringement of intellectual property rights) of a third party by You;
  • You are using and storing Your information on Your device or computer, or mobile phone at Your own risk and responsibility. Such information would include but not be limited to, the card number, PIN, password, account information, transaction activity, wallet/card balances and any other information. You agree that LivQuik will not be held accountable for claims arising out of such circumstances.
  • You agree You are aware of all security risks including possible third-party intervention. You indemnify that You will not hold LivQuik liable in any way for claims arising out of or connected to any security related risks
  • In no instance will LivQuik be liable for any indirect, special, consequential, incidental, or punitive damages of any kind in connection with this T&C, including without limitation damages for any loss, whether in contract, negligence, tort or otherwise, arising from the use of or inability to use the Company’s Services.

FORCE MAJEURE

  • A Force Majeure Event would mean any event that is beyond the reasonable control of LivQuik and shall include but not limited to war, fire, flood, strikes, acts of God, riots, lockouts, or disabling LivQuik from performing its respective obligations under the contract.
  • We will not be liable for failure to perform any obligations under disrupted or delayed on account of a Force Majeure Event
  • This arrangement between You and LivQuik will stand automatically terminated in the event that the Force Majeure Event continues for a period of 365 (three hundred and sixty – five) days, unless otherwise notified. You will be required to immediately clear all outstanding dues, payments and charges to us.
  • The obligations of LivQuik will stand suspended in the event and until the time the Force Majeure Event continues.

WAIVER

  • Any failure by LivQuik to exercise any of our rights under this agreement shall not constitute a waiver of such right or a waiver with respect to subsequent or similar breach. A waiver shall be effective only if made in writing.
  • A waiver on a one-off situation will not be construed as waiver of any rights or remedies of similar nature on all future occasions
  • You will have to file a claim or dispute within 1 (one) month from the date on which the cause of action on the said dispute occurred, with respect to or any claims arising out of the services detailed in this T&Cs. Claims filed beyond the said period will be considered as invalid and accordingly be subject to the provisions of limitation as prescribed under the applicable laws of India.

INTELLECTUAL PROPERTY RIGHTS

  • All trademarks, copyrights, brands and service marks used in connection with the services offered by us will be considered as Intellectual Property Rights.
  • All those Intellectual Property rights arising as a result of domain names, internet, geographical indicators, displaying rights, distribution and selling rights, etc. or any other right available under applicable law shall vest in our domain.
  • All material on our website, mobile application including images, illustrations, etc. are protected by us. Material on our website / app is solely for Your personal, non-commercial use.
  • By virtue of this T&C, You agree not replicate, reproduce, republish, upload or distribute such material in any way, including by email or other electronic means and whether directly or indirectly.
  • Both parties hereto agree and confirm that no part of any Intellectual Property rights mentioned hereinabove is transferable to You and the same will be in absolute ownership, possession and control of LivQuik or its respective licensors, as the case may be.
  • You agree that You will be solely liable for any violation arising out of any infringement of the provisions of Intellectual Property Rights.

GOVERNING LAW & JURISDICTION

  • These T&Cs and/or the transactions in relation to the PPI services shall be governed by Indian law and all courts in Chennai shall have the exclusive jurisdiction as regards any claims or matters arising out of the use of LivQuik.
  • Both the parties agree that any dispute, controversy or claim arising out of or relating to this T&Cs will be amicably settled through mutual consultation and escalation as detailed in this T&C
  • In case the claim is not settled amicably as mentioned above within a period of 30 (thirty) calendar days, the matter would be referred to arbitration as per the Arbitration and Conciliation Act, 1996. The venue and seat for the arbitration proceedings will be in Chennai.
  • Both the parties agree that a judgment in any such action or proceeding may be enforced in other jurisdictions by suit on the judgment or in any manner provided by the applicable law
  • By virtue of this T&C, You agree that we reserve the right to recover costs of such arbitration proceedings from Your account with which such dispute had arisen.