Terms & Conditions
In addition to the Razorpay Terms and Conditions ( Razorpay Payments and/or RazorpayX, as the case may be), You hereby also agree to avail the below mentioned Start Up Perks as per the terms captured hereinunder.
All mention of ‘We’, ‘Us’, ‘Our’, and ‘Razorpay’ refers to the legal entity Razorpay Payments Private Limited, and/or its affiliates. All mention of ‘You’, ‘Yours’, and ‘Merchant’ refers to the corporate, natural person reading and signing these Terms to avail the Start Up Perks.
We retain the right to edit and update the Services and these Terms as and when required for Our business and/or regulatory purposes, without any obligation of providing a prior intimation to You. By accepting there Terms, you also agree to accept and abide by any edits and updates made to these Terms in future. You are, therefore, requested to keep updating yourself of the edits and updates to these Terms regularly.
We request you to go through these Terms, as they form a binding legal agreement between Us and You. If you do not wish or seek to abide by these terms and conditions (‘Terms’), kindly do not proceed to accept these Terms. By accessing, registering for or using the Start Up Perks, You agree to be bound by these Terms, including our Privacy Policy, Website Terms of Use and any other policy applicable to the Services received. If You do not agree to these Terms or do not wish to be bound by these Terms, You must immediately write to us to stop/terminate the use of the Services and refrain from taking the Services.
Definitions
The definiton terms mentioned in the Razorpay Terms and Conditions shall be imported to these Terms as they have been captured in the Razorpay Terms and Conditions. In addition to those definitions under Razorpay Terms and Conditions, the following terms will have the following meaning ascribed to them:
1.1 “Angel Funded Startup” means a newly established business entity that has received equity financing from individual high-net worth investors (Angel Investors) to support its initial stages of growth and operations.
1.2 “Credits” or “Free Payment Credits” refers to non-monetary, non-transferable value units credited to a User’s account by Razorpay. These credits may be used solely to offset transaction fees or specific service costs as defined in the applicable Offer and have no independent cash value.
1.3 “Eligible Users” means those business entities or individuals who meet the specific qualification criteria (including but not limited to registration status, funding stage, and industry) as determined by Razorpay at its sole discretion for participation under these Terms.
1.4 “Offers” refers to the specific promotional deals, discounts, or service bundles made available to Eligible Users by Razorpay or its Third-Party Partners under these Terms.
1.5 “Razorpay” refers to Razorpay Payments Private Limited and/or its Affiliates.
1.6 “Services” refer to the provision of the services under these Terms, namely the provision of the Startup Perks to the Eligible Users.
1.7 “Startup Perks” means the Offers provided under these Terms to the Eligible Users.
1.8 “VC Funded Startup” means a business entity that has successfully secured institutional investment from a registered Venture Capital firm in exchange for equity, typically at the Seed, Series A, or subsequent funding rounds.
Purpose
To promote Startups, Razorpay has decided to roll out Offers to benefit start ups, as captured under these Terms to the Eligible Users.
Services
3.1 Credit Card Benefits Terms
a. You understand and agree that approval for the collateral-free credit card is subject to the Razorpay’s credit underwriting policies.
b. Razorpay may decline an application for reasons including, but not limited to:
Your or Your promoters’ adverse credit history;
Your failure to meet minimum financial or vintage criteria per the Razorpay’s credit underwriting policies;
Unsuccessful verification of Your business address or operations;
3.2 Credits Terms
a. Free payment credits will be applied on a first-come, first-serve basis, and therefore You do not have a direct claim for the same if Razorpay has disbursed it to other Eligible Users.
b. Credits will be valid until the earliest of:
The Offer limit is reached; or
Three (3) months from the date of activation of the Offer.
c. Credits cannot be transferred, exchanged, refunded, or encashed.
3.3 General Terms
a. The metrics of the Offers captured above are subject to Razorpay’s internal risk assessment and underwriting metrics, and Razorpay may provide an Offer that is lesser than what is captured in these Terms.
b. Offer(s) cannot be combined with any other promotional offers unless expressly permitted by Razorpay.
c. The Company reserves the right to modify, suspend, or discontinue the Offers at any time without prior notice.
d. All decisions by Razorpay regarding eligibility, interpretation of these Terms, provision of Offers, redemption limits, and other decisions as captured under these Terms are final and binding.
4. Term and Termination
4.1 The Term of these Terms begins from the date of accepting of these Terms, or the date from when the first Offer was redeemed, whichever is earlier, and will be valid unless terminated.
4.2 Razorpay reserves the right to terminate the Services under these Terms, as and when it deems fit, with no liability to Us. You hereby agree and understand that such termination shall have no bearing on the other services that Razorpay provides to You, unless We deem fit otherwise.
5. Eligible Users
5.1 To be eligible for the Offers under these Terms, You must:
5.2 Razorpay reserves the right to cancel Your status as an Eligible User if it deems fit, at any time, without any obligation to notify you in advance.
5.3 You must provide all documentation, information, and proofs, as deemed necessary by Razorpay, for Razorpay to do a due diligence before allotting You the status of an Eligible User. Such provision of documentation, information, and proofs could be carried out at the beginning of the Term or during the Term.
5.4 Razorpay reserves the right to suspend the Start Up Perks being provided to You, if you fail, in Razorpay’s discretion, to provide satisfactory documentation, information, and proofs required to avail the Offers to these Terms.
5.5 You hereby give Razorpay the consent to process all information, including the personally identifiable information (as defined under Applicable Laws) for such due diligence as captured in the preceding sections of these terms, and receiving communications regarding value added services that Razorpay may provide to its Merchants from time to time.
5.6 You also agree and understand that Razorpay reserves the right to check, carry on due diligence/KYC on the documentation, information, and proofs, and may leverage any tool CKYC directory, or employ third party vendors to do such due diligence, and in communication of the aforementioned value-added services to You.
Privacy
By accepting these Terms and availing the Offers, You hereby accept Company’s Privacy Policy, including collection and use of Your personal and business information for verification and Offer fulfilment.