Terms and Conditions for RBL Bank Shmart! Prepaid Instrument

IMPORTANT

This document is an electronic record in terms of Information Technology Act, 2000 and rules there under as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy, terms and conditions for access or usage of RBL Bank Shmart Prepaid Instrument through TranServ Site.

Before you use your RBL Bank Shmart! Prepaid Instrument, please read these TERMS & CONDITIONS carefully. By using the RBL Bank Shmart! Prepaid Instrument, you are accepting the Terms and Conditions set out below and will be bound by them. Unless the context requires otherwise the terms defined shall have the same meaning attributed to them herein or in the Shmart!

Services user terms and conditions:

  • 1. DEFINITIONS
  • “RBL Bank Shmart Prepaid Instrument” (also termed as Prepaid Account ') means a semi closed prepaid payment instrument (issued by RBL Bank and which is co-branded with Shmart! in the form of a virtual payment account). The Prepaid Account shall function as a prepaid payment instrument, which will be issued by the Bank on Shmart! Site: www.shmart.in or the website of its partner Merchants and can be used on the Shmart! Site or its Merchant partner site to make payments for goods and services purchased from Merchants as specified on the Shmart! Site or for transfer of funds from one customer’s account to another customer’s account or for any such other reasons as mutually agreed from time to time.

    “RBL Bank” or “Bank” or “RBL” shall mean the Ratnakar Bank Limited, a scheduled commercial bank and having its registered office at Shahupuri, Kolhapur- 416 001 and its authorized service provider/s or agent/s engaged for this program, who will issue the Wallet through the TranServ Site.

    “TranServ” shall mean TranServ Private Limited, a private limited company incorporated in India under the Companies Act 1956 and having its registered office at No. 2, Ground Floor, Hi-Tech Plaza, Mahakali Caves Road, Andheri (E), Mumbai – 400 093, who as the co-brand Partner will market & distribute the Prepaid Account through its Shmart! Site to its selected customers / employees / affiliates / merchant partners/ any other individuals for making payments to them OR collecting payments from them through the prepaid Card instruments.

    “Shmart! Site” shall mean website having the domain www.shmart.in or mobile application having the name Shmart!, which are owned and operated by TranServ Private Limited through which the Bank shall issue the Prepaid Account and TranServ shall distribute the Prepaid Account and enable obtaining instructions from customers to credit funds in and / or utilize funds from the Wallet .

    “Customer” means the registered user of Shmart! Wallet Services and has been issued a Prepaid Account and is authorised to use the Prepaid Account in accordance with the terms of these Terms and Conditions.

    1. “Shmart Wallet” shall mean the account set up by TranServ for the Customer upon the Customer entering into a transaction with a Merchant or other Customer or through any other modes as determined by TranServ from time to time; which would include the Prepaid Account and will give the Customer access to Shmart Services. This also includes Shmart Wallet Services marketed under the name of participating merchant and termed as “ Wallet” or “ Wallet Services”
    2. “Shmart Services” shall mean the services provided by TranServ to Customers though the Shmart Wallet, or otherwise, in order to enable Customers pay to the Merchants or other Customers through internet payment gateways and other modes as may be determined by TranServ;

    “Terms and Conditions” shall mean these terms and conditions

    "Transaction" means an online purchase of Products from or making of Payments for specified purpose to a Merchant or other Customer or through any other modes as determined by RBL Bank from time to time by the Customer using his Prepaid Account.

    “Prepaid Account Services” or “Services” shall mean the services or functionalities as detailed under this Agreement.

    “RBI” shall mean Reserve Bank of India

    “Merchants” shall be a Seller who uses Shmart! Wallet Services for collecting payments from the Customer and who are specified by TranServ from time to time.

  • 2. INTERPRETATIONS
    1. All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
    2. Words importing any gender include the other gender.
    3. Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force.
    4. All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these terms.
    5. These Terms and Conditions shall be read alongwith the Shmart! Services User Terms and Conditions. In the event of any discrepancy/contradiction between these Terms and Conditions and the Shmart! Services User Terms and Conditions, these Terms and Conditions shall prevail to the extent of such contradiction/discrepancy.
  • 3. ISSUANCE OF PREPAID ACCOUNT
    1. The Prepaid Account will be issued by RBL Bank to Shmart! Wallet customers on the request of the Customer and pursuant to the Customer making an application for registration of the Prepaid Account and agreeing to these Terms and Conditions and other applicable terms and conditions in the manner prescribed by RBL Bank and TranServ in this regard. Provided that the Customer has fulfilled the eligibility and KYC criteria and provided all relevant information and/or documentation request by TranServ /RBL.
    2. A Customer desirous of opening a Prepaid Account should apply to RBL using the Shmart! Site or Merchant platforms as mentioned on the TranServ Site and accept the Prepaid Account Terms and Conditions.

      For new Customers, a Shmart! Services registration and the Prepaid Account registration will be conducted simultaneously
    3. 3RBL reserves the right to reject any application made for opening a Prepaid Account without assigning any reason.
  • 4. ELIGIBILITY AND PREPAID ACCOUNT REGISTRATION
    1. The Services are available only to resident Indians who have attained the age of 18 years and are competent to contract. By accepting these Terms & Conditions or by otherwise using the Services or the Shmart! Site, you represent that you are an Indian resident and at least 18 years of age and have not been previously suspended or removed from the Prepaid Account Services. You represent and warrant that you have the right, authority, and capacity to enter into these Terms and Conditions and to abide by all of the terms and conditions contained herein. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent identity, age or affiliation with any person or entity.
    2. In order to register, create and use a Prepaid Account, RBL may require that you submit certain personal information, including but not limited to your name, mobile phone number, e-mail address, date of birth, preferred language of communication, etc. to TranServ and RBL. You agree that the personal information you provide to RBL upon registration and at all other times will be true, accurate, current and complete. You agree to maintain and update this personal information to keep the personal information true, accurate, and complete.
    3. You hereby authorize RBL and TranServ, directly or through third parties, to make any inquiries that RBL may consider necessary to validate your identity and/or authenticate your identity and Prepaid Account information. This may include asking you for further information and/or documentation about your 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. This process is for internal verification purposes.
    4. The collection, verification, audit and maintenance of correct and updated Customer information is a continuous process and RBL and TranServ reserves the right, at any time, to take steps necessary to ensure compliance with all relevant and applicable KYC requirements.
    5. RBL reserves the right to discontinue the Services/ reject applications for Prepaid Account Services at any time if there are discrepancies in information and/or documentation provided by you or if the information/documentation provided by you is found to be incorrect or wrong. In addition, in such an event, RBL reserves the right to forfeit the balance therein.
  • 5. SCOPE OF PREPAID ACCOUNT SERVICES
    1. The Prepaid Account may be reloaded as many number of times within the limits prescribed by Reserve Bank of India (“RBI”) and RBL in its discretion can assign a lower limit and/or frequency of reload as deemed appropriate. However, the Customer shall ensure that the total value of reloads during any given month does not exceed Rs.10,000/-.
    2. The said Prepaid Account is valid for use only in India in Indian Rupees.
    3. The Services or any Customer’s Prepaid Account is not transferable.
    4. The amount that can be deposited in the Prepaid Account is governed by policies laid down by RBI. These involve monthly limits, transaction limits as well as balance limits on the Prepaid Account.
    5. The maximum monetary value that can be stored and utilized in a month in the Prepaid Account is INR 10,000/-(Rupees ten thousand only).
    6. These limitations stated herein above may be reviewed and modified at the discretion of RBL without prior intimation to the Customer.
    7. The Customer shall be able to use the Prepaid Account only to the extent of the amount loaded onto the Prepaid Account.
    8. The Prepaid Account shall be activated subject to the desired amount being loaded on the Prepaid Account
    9. The Customer or any other person permitted to load the Prepaid Account may credit the Prepaid Account through any of the methods prescribed from time to time (please see Clause 7).
    10. The facility of online purchase of Products as mentioned on the TranServ Site from Merchant using Prepaid Account, balance transfer from one Prepaid Account to another, domestic Remittance facility to transfer funds to source or bank account transactions shall be available on the Prepaid Account. Such functionalities can be added or modified at the sole discretion of the RBL.
    11. No cash withdrawal or cash remittance is permissible on the Prepaid Account
    12. The Customer is permitted to maintain and operate only one Prepaid Account. Any suspected non-conformity with this requirement shall be just cause for the suspension/ discontinuation of any/all Prepaid Accounts associated with the Customer.
    13. RBL may further as per its discretion introduce appropriate controls over the usage of the Prepaid Account.
  • 6. USAGE GUIDELINES
    1. The Prepaid Account may be used through TranServ Site, or third party Merchant partners authorised by TranServ and RBL.
    2. The Customer shall at all times ensure that the Prepaid Account credentials are kept safe and shall under no circumstances whatsoever allow the Prepaid Account to be used by any other individual. The Customer shall be responsible for all facilities granted by RBL Bank and for all related charges and shall act in good faith in relation to all dealings with the Prepaid Account and RBL Bank.
    3. The Customer is responsible for the security of the Prepaid Account and shall take all steps towards ensuring the safekeeping thereof. The Customer shall not disclose his/her/its password to anyone verbally or in writing nor record it elsewhere.
    4. The Customer will be liable for all charges incurred on the Prepaid Account until the Prepaid Account is reported for closure. RBL and TranServ shall not be liable for any hacking or unauthorized use of the Prepaid Account and it shall be the sole responsibility of the Customer to ensure privacy and confidentiality of Prepaid Account details. The Customer shall, within 48 hours, intimate to TranServ and/or RBL of the occurrence of any fraud.
    5. In case of any dispute relating to the time of reporting and/ or transaction/s made on the Prepaid Account or any other matter in relation to the said Prepaid Account, RBL Bank shall reserve the right to ascertain the time and/ or the authenticity of the disputed Transaction.
    6. The Customer shall inform TranServ and RBL Bank in writing within 15 days, if any irregularities or discrepancies exist in the Transactions/ particulars of the Prepaid Account on any Statement / records that is made available to the Customer. If TranServ or RBL Bank does not receive any information to the contrary within 15 days, it shall assume that the Statement and the transactions are correct. All records maintained by RBL Bank or TranServ, in electronic or documentary form of the instructions of the Customer and such other details (including but not limited to payments made or received) pursuant to the Terms and conditions herein, shall as against the Customer, be deemed to be conclusive evidence of such instructions and such other details.
    7. The Customer may only use the Services for Transactions with the approved Merchants using TranServ Services.
    8. The Customer must ensure the availability of sufficient funds before executing any transaction from the Prepaid Account.
    9. The Customer shall intimate TranServ and/or RBL about change in any information, including but not limited to change mobile number, email id, etc. within 1 (one) week along with such proof of change.
    10. The Customer agrees to adhere to all applicable laws and all such regulations, guidelines and rules prescribed from time to time by RBL, TranServ, RBI and any other regulatory body.
    11. The Customer agrees that he will not use the Prepaid Account for payment of any illegal/unlawful purchases/purposes.
    12. The Customer understands that the Prepaid Account is issued, loaded, withdrawn, terminated, closed down, suspended by RBL. TranServ shall under no circumstance be liable for the same.
    13. The Customer shall be bound to comply with the terms and conditions and all the policies stipulated by RBL Bank from time to time in relation to the Prepaid Account . RBL Bank may, at its sole discretion, refuse to accept the application or to issue Prepaid Account to the Customer.
    14. The Customer shall not use the Services for any purpose that might be construed as contrary or repugnant to any applicable laws, regulations, guidelines, judicial dicta, TranServ policies, RBL policies or public policy or for any purpose that might negatively prejudice the goodwill of TranServ or RBL.
    15. The Customer shall accept full responsibility for wrongful use of the Prepaid Account and which is in contravention of these terms and conditions. The Customer shall indemnify RBL and/or TranServ to make good any loss, damage, interest or any other financial charges that RBL or TranServ may incur and or suffer whether directly or indirectly as a result of the Customer committing violations of these terms and conditions.
    16. RBL reserves the absolute discretion and liberty to decline or honor the authorization request on the Prepaid Account without assigning any reason thereto.
    17. The Customer acknowledges and understands that the Services are linked to internet connection (and in case of TranServ mobile application – mobile phone connection) and RBL and TranServ shall not be responsible for any loss or interruption of the Services,
    18. The Customer acknowledge and understand that the information submitted by the Customer for availing the Services or information submitted while using the Services may be shared with third parties inter alia, to facilitate the provision of the Services.
    19. RBL through TranServ may request the Customer to submit additional KYC information/documents as part of ongoing monitoring and due diligence.
    20. THE CUSTOMER UNDERSTANDS THAT THE SHMART! SERVICES TERMS AND CONDITIONS SHALL BE APPLICABLE TO ALL TRANSACTIONS MADE THROUGH Prepaid Account INCLUDING PREPAID ACCOUNT TRANSACTIONS. THE CUSTOMER UNDERSTANDS AND AGREES TO COMPLY WITH ALL TRANSERV TERMS AND CONDITIONS. THE CAPITALIZED TERMS NOT DEFINED HEREIN SHALL HAVE THE MEANING ASCRIBED TO THEM IN THE TRANSERV USER TERMS AND CONDITIONS.
    21. RBL and TranServ may at their sole discretion, utilize the services of external service providers/or agents and on such terms as required or necessary, in relation to its products/services.
  • 7. DEPOSIT/LOAD PREPAID ACCOUNT
    1. You can use multiple funding sources for depositing/loading money in the Prepaid Account . These sources could be but not limited to Cash, Credit Cards, Debit Cards, Net Banking, and Transfer from another Prepaid Account.
    2. The Prepaid Account may also be loaded by transfer of refund money of transactions made using TranServ Services (online payment gateways or loading of incentives such as cash back, gifts, etc by TranServ or Merchant or loading by third parties or corporate of gifts or incentives etc or such other manner as is acceptable to RBL Bank.
    3. Such funds shall be loaded on the Prepaid Account after deduction of the applicable Charges/ Fees etc. payable by the Customer to RBL Bank for availing the said Prepaid Account facility.
    4. In order to manage risk, RBL may limit the funding sources available for your use to fund any particular transaction. For example, RBL may limit your funding sources for a particular transaction to debit cards or your net banking account.
    5. TranServ and RBL will monitor each deposit made into your Prepaid Account to monitor high-risk & fraudulent transactions. If your deposit is classified as a high-risk transaction or is suspected of fraud, RBL will place a hold on the deposit and may ask you for more information on you and your funding source. TranServ and/or RBL will conduct a review and according RBL will either clear or cancel the deposit. If the deposit is cleared, TranServ will notify you and update your Prepaid Account. Otherwise, RBL will cancel the deposit and the funds will be forfeited. The said funds will be refundable only to source account upon valid demand raised by holder of source account. TranServ will notify you by email and/or in the account history tab of your Prepaid Account if the deposit is canceled.
    6. When you make a deposit, you are liable to RBL 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, or RBL/TranServ, will determine whether the dispute is valid and to whom payment is due. You agree to allow RBL/TranServ to recover any amounts due to RBL/TranServ by debiting your Prepaid Account balance. If there are insufficient funds in your account to cover your liability, you agree to reimburse TranServ/RBL through other means. If TranServ/RBL is unable to recover the funds from your primary funding source, TranServ and RBL may attempt to contact you and/or 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. In addition, RBL/TranServ may suspend or terminate your Prepaid Account.
  • 8. PAYMENT USING PREPAID ACCOUNT
    1. Customers can choose to use the funds available in their Prepaid Account to purchase Products from Merchants using Shmart! Services.
    2. If the Customer is unsatisfied with the service provided by the Merchant or hasn’t received goods promised by the Merchant then the Customer can raise a dispute with TranServ after first raising and failing to get redressal of his grievance from the concerned merchant. The dispute will be governed by the TranServ terms and conditions.
    3. The Customer may also partially pay for the Products offered by the Merchant from its Prepaid Account and pay the remaining amount using other payment mechanism such as debit card, credit card, netbanking, etc provided by TranServ. The usage of other payment mechanisms provided by TranServ shall be governed by TranServ terms and conditions.
  • 9. WITHDRAWING/TRANSFER FUNDS AVAILABLE IN PREPAID ACCOUNT
    1. Customer can choose to withdraw the funds available in his Prepaid Account to the source from which the payment loading originating or to a linked bank account.
    2. In the event that RBL are unable to transfer the funds back to source or to bank account, RBL will transfer the funds to your bank account by way of NEFT.
    3. TranServ/RBL reserves the right to delay withdrawals while screening for risk, or request you provide additional information to verify your identity and may limit the amount you can withdraw until the information is verified.
    4. Any withdrawal found to be suspicious will be held back and reversed into Prepaid Account. The Prepaid Account will also be suspended for operations and no transactions will be possible pending an investigation. A notification will be given to you if you are the subject of an investigation. If you are able to provide a justification for the withdrawal to the satisfaction of RBL/TranServ, your account will be removed from suspension and you would be free to transact using your Prepaid Account.
    5. In the case of no information being provided by you for a suspended Prepaid Account – the Prepaid Account will continue to be suspended till its validity and the amount will be forfeited as required by RBI.
  • 10. SUSPENSION OR DISCONTINUANCE OF SERVICES
    1. RBL reserves the right to suspend/discontinue the Services at any time, for any cause, including, but not limited, to the following;
      1. for any suspected discrepancy in the particular(s), online application, documentation provided by the Customer;
      2. suspected or potential fraud;
      3. sabotage, willful destruction, threat to national security or for any other force majeure reasons etc;
      4. if the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons;
      5. if the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;
      6. for any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of the terms and conditions mentioned in herein;
      7. if RBL believes, in its reasonable opinion, that cessation/ suspension is necessary.
  • 11. CLOSURE OR TERMINATION OF PREPAID ACCOUNT
    1. Customer has the option to close the Prepaid Account at any time. The closure of such Prepaid Account may be communicated to TranServ/RBL over email at wecare@shmart.in or in written to Customer Service Manager, Office No. 2, Ground Floor, Hi-Tech Plaza, Mahakali Caves Road, Andheri (E), Mumbai – 400 093 or through call center at 022 – 6730 4948.
    2. All the Prepaid Accounts including multiple Prepaid Accounts if any will be terminated basis the written request. Termination will be effective after payment of all amounts outstanding on the Prepaid Account. No annual, joining or renewal fees shall be refunded on a pro-rata basis.
    3. RBL Bank may also restrict, terminate or suspend the use of Prepaid Account at any time without prior notice if Bank reasonably believes it necessary for business or security reasons. The Prepaid Account must not be used after these Terms and Conditionsend or while use of Prepaid Account is suspended.
    4. RBL Bank shall, upon adequate verification, block/suspend/close the Prepaid Account and terminate all facilities in relation thereto during working hours on a working day following the receipt of such intimation and shall not be liable for any inconvenience caused to the Customer in this regard.
    5. There is no expiry date for the Prepaid Account. However, any value in an Prepaid Account must be utilized: (a) within 6 (six) months from the date of the last Transaction or (b) within 6 (six) months from the date of activation of the Prepaid Account; whichever is later.
    6. Any value in and Prepaid Account which is not utilized or withdrawn in the aforesaid manner may stand forfeited at the discretion of RBL. TranServ/RBL will send 30 days advance communication to Customer before any forfeiture of outstanding amount in the Prepaid Account by SMS at the mobile number and/or email id which is provided for use of the Services. It is the responsibly of the Customer to ensure that the information provided by the Customer including the email id and the mobile number is updated at all times.
    7. In addition RBL or TranServ may, at any time, with or without notice, at its absolute discretion, terminate the Prepaid Account. RBL or TranServ may also restrict or suspend the use of Prepaid Account at any time without prior notice if Bank reasonably believes it necessary for business or security reasons.
  • 12. CUSTOMER’S OTHER OBLIGATIONS & COVENANTS
    1. Customer will be liable for all Transactions and for the related charges.
    2. Customer accepts that at his request and risk RBL/TranServ has agreed to provide him the Prepaid Account & accepts full responsibility for all Transactions recorded by use of his Prepaid Account.
    3. An instruction given by means of the Prepaid Account shall be irrevocable.
    4. Customer shall, in all circumstances, accept full responsibility for the use of the Prepaid Account, whether or not processed with his knowledge or his authority, expressed or implied.
    5. Customer irrevocably authorizes RBL/TranServ to debit the amounts utilized by using the Prepaid Account for Transactions from his Prepaid Account.
    6. Customer should hold RBL/TranServ indemnified and harmless for its actions in good faith and in the normal course of business based on Transactions.
    7. RBL/TranServ will employ its best efforts in carrying out the Transactions but will not incur any liability either to the Customer or any other person for any reason whatsoever including for its delay or inability to carry out a Transaction or an instruction.
    8. RBL/TranServ reserves the right at any time to charge the Customer any fees/ charges for the transactions carried out by using your Prepaid Account. Details of applicable fees and charges can be obtained from TranServ Site and are subject to change from time to time.
    9. Any government charges, or debits, or tax payable as a result of the use of Prepaid Account shall be Customer’s responsibility.
    10. Amounts due and payable by Customer, if not paid separately shall be recovered by RBL from the funds available in the Prepaid Account Amount.
    11. RBL/TranServ may at its sole discretion withdraw or suspend any Prepaid Account or amend any of its features without notice to the Customer.
    12. RBL/TranServ shall have discretion to not allow the Customer to carry out a transaction where it has reason to believe that the use of Prepaid Account is not authorized or the Transaction appears not genuine or unclear or such as to raise a doubt.
    13. RBL/TranServ, at their discretion, reserves 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 RBL/TranServ as deemed fit.
  • 13. INDEMNITY AND LIMITATION OF LIABILITY
    1. In consideration of RBL and TranServ providing the Customer with the facility of the Prepaid Account, the Customer hereby agrees to indemnify and keep RBL and TranServ indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses whatsoever which RBL or TranServ may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of directly or indirectly providing the Customer the said facility of the Prepaid Account or by reason of RBL Bank's or TranServ’s acting in good faith and taking or refusing to take or omitting to take action on the Customer's instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; breach or noncompliance of the rules/ terms and conditions relating to the Prepaid Account or fraud or dishonesty relating to any transaction by the Customer.
    2. Without prejudice to the foregoing, RBL Bank and TranServ shall be under no liability whatsoever to the Customer in respect of any loss or damage arising directly or indirectly out of:
      1. Any issue emerges post availing the Products from merchant;
      2. The refusal to honor or to accept the Prepaid Account;
      3. The malfunction of any computer/POS terminal;
      4. Effecting transaction instructions other than by a Customer;
      5. Handing over of the Prepaid Account credentials by the Customer;
      6. The exercise by RBL Bank of its right to demand and procure the surrender of the Prepaid Account prior to the expiry, whether such demand and surrender is made and/ or procured by RBL Bank or by any person or computer terminal.
      7. The exercise by RBL Bank of its right to terminate any Prepaid Account;
      8. Any injury to the credit, character and reputation of the Customer alleged to have been caused by the repossession of the Prepaid Account and/ or, any request for its return or the refusal of any merchant establishment to honor or accept the Prepaid Account;
      9. Any misstatement, misrepresentation, error or omission in any details disclosed by RBL Bank or TranServ except as otherwise required by law.
      10. If RBL Bank or TranServ receives any process, summons, order injunction, execution distrait, levy, lien, information or notice which RBL Bank or TranServ in good faith believes/ calls into question the Customer's ability, or the ability of someone purporting to be authorized by the Customer, to transact on the Prepaid Account, RBL Bank may, at its option and without liability to the Customer or such other person, decline to allow the Customer to obtain any portion of his funds, or may pay such funds over to an appropriate authority and take any other steps required by applicable law. RBL Bank reserves the right to deduct from the balance available on the Prepaid Account, a service charge and any expenses it incurs, including without limitation legal fees, due to legal action involving the Customer's Prepaid Account;
      11. In the event a demand or claim for settlement of outstanding dues from the Customer is made, either by RBL Bank or TranServ or any person acting on behalf of RBL Bank, the Customer agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Customer, in any manner.In the event a demand or claim for settlement of outstanding dues from the Customer is made, either by RBL Bank or TranServ or any person acting on behalf of RBL Bank, the Customer agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Customer, in any manner.In the event a demand or claim for settlement of outstanding dues from the Customer is made, either by RBL Bank or TranServ or any person acting on behalf of RBL Bank, the Customer agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Customer, in any manner.In the event a demand or claim for settlement of outstanding dues from the Customer is made, either by RBL Bank or TranServ or any person acting on behalf of RBL Bank, the Customer agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Customer, in any manner.
    3. In addition, TranServ’s liability shall be limited in accordance with the TranServ terms and conditions including any disclaimers or limitation of liability provided therein.
  • 14. DISCLAIMER
    1. The Services are provided on an "as is" and "as available" basis. Use of the Service is at your own risk. To the maximum extent permitted by applicable law, the Services is provided without warranties of any kind, whether express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, or non-infringement. No advice or information, whether oral or written, obtained by you from RBL or TranServ or through the Services will create any warranty not expressly stated herein. Without limiting the foregoing, neither RBL nor TranServ, warrant that the content is accurate, reliable or correct; that the Services will meet your requirements; that the Services will be available at any particular time or location, uninterrupted or secure; that any defects or errors will be corrected; or that the Services is free of viruses or other harmful components. Neither RBL nor TranServ will be liable for any loss or damage whatsoever or howsoever caused or arising, directly or indirectly, including without limitation, as a result of loss of data; interruption or stoppage of access to and/or use of the Services; interruption or stoppage TranServ Site; non-availability of connectivity links/hyperlinks.
    2. Any content downloaded or otherwise obtained through the use of the Services is downloaded at your own risk, and you will be solely responsible for any damage to your property or loss of data that results from such download.
    3. Neither RBL nor TranServ warrant, endorse, guarantee, or assume responsibility for Products advertised or offered by a third party through the Services or any hyperlinked website or Service, or featured in any banner or other advertising, and neither RBL nor TranServ will be a party to or in any way monitor any transaction between you and third-party providers of goods and/ or services.
    4. The Services are controlled and operated from and in India. RBL and/or TranServ makes no representations that the Services are appropriate or available for use in other locations. Those who access or use the Services from other jurisdictions do so at their own volition and are entirely responsible for compliance with all applicable Indian laws, rules, regulations, guidelines including but not limited to export and import regulations and RBI regulations. You may not use the Service if you are a resident of a country embargoed by the India, or are a foreign person or entity blocked or denied by the Indian government. Unless otherwise explicitly stated, all materials found on the Services are solely directed to individuals, companies, or other entities located in India.
    5. RBL/ TranServ’s sole obligation and your sole and exclusive remedy in the event of interruption in Services or loss of use and/or access to Services, will be to use all reasonable endeavours to restore the Services and/or access as soon as reasonably possible. In no event will TranServ be liable for issuance, termination, expiry, suspension, loading/deposits, withdrawing, transfer of funds to or from the Prepaid Account.
    6. TranServ/ RBL make no representations or guarantees regarding Merchants utilizing TranServ/ RBL’s Services. Use of TranServ/ RBL’s Services in no way represents any endorsement by TranServ/ RBL of a Merchant's existence, legitimacy/legality, ability, policies, practices, beliefs as well as the Merchants Products and reliability. The Merchant alone will be responsible to the Customer and neither we nor anybody connected to us will have any responsibility or liability towards the Customer for Products purchased from the Merchant.
    7. The relationship between TranServ/RBL and the Merchant is on principal-to-principal basis. TranServ/ RBL have no connection or interest of whatsoever nature in the business of the Merchant or the Products offered/marketed by the Merchant. TranServ/RBL do not in any manner take part in the business of the Merchant, directly or indirectly.
    8. For the use of TranServ/ RBL’s Services, the Merchant pays Fees to us as posted on our website and TranServ/ RBL are nowhere connected or concerned about the revenues of the Merchant.
  • 15. ADDITION/ WITHDRAWAL OF FACILITIES:
    1. RBL Bank or TranServ may, at their discretion, make available to the Customer more services on the Prepaid Account, POS Terminals, Internet or other wise and/ or other devices through shared networks for the Customer's convenience and use. All fees and charges related to Transactions done by the Customer at these devices as determined by RBL Bank from time to time will be recovered by a debit to the balance available on the Prepaid Account. The Customer understands and agrees that the shared networks may provide different functionalities and service offerings and different charges for different services. RBL Bank shall also, in its sole discretion, at any time, without notice to the Customer, be entitled to withdraw, discontinue, cancel, suspend/ or terminate the facility to use the Prepaid Account and/ or services related to it, at POS Terminal/ Internet/ other devices within India and shall not be liable to the Customer for any loss or damage suffered by him resulting in any way from such withdrawal, discontinuance, cancellation, suspension or termination.
    2. RBL Bank and TranServ reserves the right to change these terms and conditions and reserves the right to modify the fees applicable to the Prepaid Account at any time. The most current version will always appear at the website: www.shmart.in
  • 16. DISCLOSURE OF INFORMATION AND INTELLECTUAL PROPERTY RIGHTS
    1. RBL Bank reserves the right to disclose the Customer’s information to any court of competent jurisdiction, quasi-judicial authorities, law enforcement agencies and any other wing of Central Government or State Government. The Customerhereby consents to sharing of their information with service providers or agencies or partners for providing services in relation to the Prepaid Account.
    2. Any information relating to the Customer is generally used to provide the Services, improve the Services and otherwise for a detailed overview of what kind of information that TranServ or RBL collects, stores, uses, shares, please go through the privacy policy available on the company’s website.
    3. TranServ and RBL may use the Customer information/data to market, advertise and notify the Customer of various TranServ/RBL offerings. The Customer fully understands that due to use of the Customer of the Services and TranServ Services through TranServ Site, TranServ/RBL may create or generate database in respect of such Customer. All rights and ownership with respect to such database shall vest with TranServ/RBL.
    4. The user interfaces, graphics, logos, design, compilation, information, computer code (including source code and object code), products, software, services, and all other elements of the Service provided by the TranServ or RBL are protected by copyright, designs, patent, and trademark laws, international conventions and other applicable intellectual property and proprietary rights of either TranServ, RBL or third parties authorized by RBL or TranServ.
    5. Nothing contained herein shall authorize the Customer to use, apply, invade or in any manner exploit or infringe the intellectual property rights of the RBL/ or TranServ, and the usage of the same shall be in compliance with these Terms and Conditions and such approval and policies as may be notified from time to time. In addition, Customer undertakes not to infringe the intellectual property rights of any third party.
    6. The Customer undertakes not to infringe the intellectual property rights of RBL and/or TranServ respectively, whether directly or indirectly through any third party. The Customer warrants that it shall only use the TranServ Services, Site and Software Application and the Services for the purposes of these Terms and Conditions. Customer or any other person empowered by the Customer shall not use the TranServ Site and Software Application and/or RBL Services and software in any form whatsoever, so as to:
      1. design, realize, distribute or market a similar or equivalent software program;
      2. adapt, modify, transform or rearrange the TranServ and RBL software applications and TranServ Site for any reason whatsoever, including for the purpose, among other things, of creating a new software program or a derivative software program;
      3. allow unauthorized use of or access to the TranServ and RBL software applications and TranServ Site and TranServ Site;
      4. disassemble, reverse engineer, decompile, decode or attempt to decode the TranServ and RBL software applications and TranServ Site;
      5. allow the TranServ and RBL software applications and TranServ Site to be disassembled, reverse engineered, decompiled or decoded; and/or
      6. in any way override or break down any protection system integrated into the TranServ and RBL software applications and TranServ Site.
  • 17. DISPUTES
    1. These Terms and Conditions will be governed by and be construed in accordance with the laws of India. All disputes are subject to the exclusive jurisdiction of the Courts in Mumbai, irrespective of whether any other Court may have concurrent jurisdiction in the matter. The Customer shall be liable for all costs associated with resolution of the dispute, legal expenses and decretal amounts with interest, should it become necessary to refer the matter to any agent or where legal resources for enforcement of rights of RBL Bank in this regard.
  • 18. COMMUNICATION
    1. Any communication from RBL or TranServ to the Customers will be deemed to be completed within 7 days of sending such a communication to the most recent mailing address or Email ID or mobile number available with RBL Bank
    2. Customers can contact RBL Bank at any of the below mentioned points: Email to wecare@shmart.in
  • 19. FEES AND CHARGES
    1. All fees and charges related to Prepaid Account, as determined by RBL Bank will be recovered by a debit to the Prepaid Account or through other means as available and applicable. The fees are not refundable. Any government charges, duty or debits, or tax payable as a result of the use of the Prepaid Account shall be the Customer's responsibility and if imposed upon RBL Bank (either directly or indirectly), RBL Bank shall debit such charges, duty or tax against the Prepaid Account.
    2. Prepaid Account Fees or charges applicable to Prepaid Account are subject to change from time to time at the sole discretion of RBL Bank and TranServ.
    3. Details of the currently applicable fees and charges as stipulated by RBL Bank will be displayed on the website www.shmart.in and will be communicated from time to time.

    Fees Schedule (with effect from 1 December 2014)


    Particulars Amount
    Prepaid Account Issuance fee Rs. Zero
    Zero Annual Maintenance Fee Rs. Zero
    Balance Enquiry Rs. Zero
    Service Tax Unless explicitly stated in this Schedule of Charges, Service Tax as may be applicable from time to time on all fees, surcharge and other charges will be levied to the Customer.
    Closure fee Rs. 10
    6 month inactivity fee Rs. 50

    Applicable service tax will be levied on the aforementioned charges. Above mentioned fees will be applicable till further notice

    RBL Bank/TranServ may choose to waive / alter certain fee by communicating the same to the Customer on a case to case basis.