Razorpay Shield Program – Terms & Conditions
These Razorpay Shield Program Terms (“Shield Terms”) govern your participation in the Razorpay Shield Program (“Program”). These Shield Terms form a part of, and are subject to the Razorpay Terms of Use or, where applicable,the merchant agreement executed between you (“Merchant/You”) and Razorpay (“Agreement”). To the extent of anyinconsistency, these Shield Terms shall prevail only in relation to the Program. Capitalised terms used but not defined here shall have the meaning given in the Agreement..
The Program is available only to Merchants who have enrolled in it.
Razorpay Shield
1.1. Services: The Program applies exclusively to qualifying cross border export payments processed through Razorpay's proprietary payment gateway and checkout system ("Shield Payments"). Shield Payments will be evaluated by Razorpay's proprietary fraud analytics and detection tools ("Product"). Razorpay reserves the sole and absolute right to decline any transaction identified as potentially fraudulent or high-risk based on the Product's analysis.
1.2. Covered Chargebacks: A chargeback will qualify for coverage under the Program ("Fraud Chargeback") only if all of the following conditions are met:
1.2.1. The chargeback is associated with a fraud reason code as set forth in Appendix 1 hereto.
1.2.2. The transaction to which the chargeback relates was successfully processed and authorized during the Merchant's active Program enrollment term ("Enrollment Term").
1.2.3. The Merchant is in full compliance with all of its obligations as specified in Section 2 of these Shield Terms.1.3. Exclusions: The Program shall not cover, and Razorpay shall have no liability or obligation to you for, any disputes or chargebacks arising from or related to:
1.3.1. The quality, delivery, or description of goods or services (e.g., undelivered goods, defective products, or services not as described).
1.3.2. Any chargeback reason code other than those specifically listed as fraud reason codes in Appendix 1.
1.3.3. Any transactions or categories of transactions that Razorpay has, in its sole discretion, explicitly excluded in writing
Merchant Obligations
Coverage and eligibility under the Program are strictly conditioned upon the Merchant's complete and continuous compliance with the following obligations:2.1. Data Provision. The Merchant shall provide all data points and documentation required by Razorpay at the time of payment initiation and/or upon any subsequent request by Razorpay.
2.2. Customer Consent. The Merchant shall be solely responsible for obtaining all necessary, valid, and explicit consent from its customers to share transaction data with Razorpay for the purposes of fraud detection and the operation of the Program. The Merchant shall maintain and provide proof of such consent to Razorpay upon request.
2.3. Data Accuracy. The Merchant represents and warrants that all data, documentation, and information provided to Razorpay, including transaction data and customer details, are and shall remain true, accurate, complete, and current.
2.4. Use Restrictions. Any information or data made available to the Merchant under the Program ("Payments Data") shall be used by the Merchant solely for the purpose of availing Shield Payments. The Merchant shall not, under any circumstances, resell, license, disclose, distribute, or otherwise use the Payments Data for unauthorized purposes, including, but not limited to, credit scoring, background checks, employment decisions, or any other activity that may violate Applicable Laws or Card Network Rules.
2.5. Non-Discriminatory Routing. The Merchant shall not, directly or indirectly, intentionally or disproportionately, route high-risk or potentially fraudulent transactions to the Program. Razorpay may, at its discretion, require the Merchant to disclose its transaction routing logic and/or data. In the event of a breach of this clause, Razorpay may immediately suspend the Program, terminate the Merchant's participation, and/or recover any amounts paid to the Merchant under the Program.
2.6. Compliance with Laws. The Merchant shall, at all times, comply with all Applicable Laws, regulations, and Card Network Rules in connection with its participation in the Program.
Coverage
3.1. Extent of Coverage. Coverage under the Program shall be strictly limited to the actual monetary loss incurred by the Merchant in respect of eligible Fraud Chargebacks, subject at all times to a maximum aggregate coverage ceiling of INR [₹] (Rupees [₹] only) per Enrollment Term ("Coverage Ceiling").
3.2. Conditions.
3.2.1. Coverage shall be determined and applied on an aggregate basis across all eligible transactions.
3.2.2. Unless otherwise agreed to in writing by Razorpay, coverage is applicable only to non-3DS internationaltransactions.
3.3. Higher Coverage. Merchants may apply for coverage exceeding the Coverage Ceiling by contacting Razorpay at [insert contact/email link]. Any such higher coverage shall be subject to Razorpay's prior written approval and the execution of additional commercial terms.
3.4. Exclusions. Program benefits, including Coverage Charges, shall not be extended to any Affiliates of the Merchant or any third parties.
3.5. Adjustments. Razorpay reserves the right, in its sole discretion, to revise the Coverage Ceiling or any Fraud Chargeback limit at the beginning of each new Enrollment Term.
Razorpay's Right and Remidies
4.1. Razorpay reserves the right, without prior notice or liability to the Merchant, to activate, suspend, deny, or withdraw the Program, in whole or in part, at any time for any reason. Enrollment by a Merchant in the Program does not guarantee its activation.
4.2. Razorpay may decline any transaction flagged as high-risk or potentially fraudulent by the Product, or for any other reason, without incurring any liability to the Merchant.
4.3. Razorpay shall be entitled to immediately recover from the Merchant any Fraud Chargebacks, fines, penalties, or other costs incurred by Razorpay due to the Merchant’s:
4.3.1. discriminatory routing of transactions;
4.3.2. provision of inaccurate, incomplete, or fraudulent data; or
4.3.3. any breach of these Shield Terms or the Agreement.
Limitation of Liability and Indemnity
5.1. NOTWITHSTANDING ANYTHING TO THE CONTRARY IN THE AGREEMENT, RAZORPAY'S MAXIMUM AGGREGATE LIABILITY UNDER THESE SHIELD TERMS SHALL BE LIMITED SOLELY TO THE COVERAGE CEILING.
5.2. IN NO EVENT SHALL RAZORPAY BE LIABLE FOR ANY INDIRECT, INCIDENTAL, PUNITIVE, SPECIAL, EXEMPLARY, OR CONSEQUENTIAL DAMAGES (INCLUDING, WITHOUT LIMITATION, LOSS OF PROFITS, BUSINESS, REVENUE, GOODWILL, OR ANTICIPATED SAVINGS), EVEN IF RAZORPAY HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
5.3. The Merchant shall indemnify, defend, and hold harmless Razorpay, its Affiliates, and their respective directors, officers, employees, and agents from and against any and all claims, demands, fines, penalties, losses,damages, liabilities, costs, and expenses (including reasonable legal fees) arising out of or in connection with:
5.3.1. Any breach of these Shield Terms or the Agreement by the Merchant.
5.3.2. The Merchant's provision of inaccurate, incomplete, or fraudulent data.
5.3.3. The Merchant's discriminatory routing of transactions.
Terms and Termination
6.1. Term. These Shield Terms shall remain in full force and effect for the duration of the Merchant's Enrollment Term, unless terminated earlier in accordance with this Section.
6.2. Razorpay may suspend or terminate the Merchant's participation in the Program immediately upon notice to the
Merchant if:
6.2.1. The Merchant breaches any provision of these Shield Terms or the Agreement.
6.2.2. The Merchant fails to pay any applicable fees or charges when due.
6.2.3. Such suspension or termination is required by Applicable Laws, a regulatory authority, or Card Network Rules.
6.3. The termination provisions of the Agreement shall apply equally to the Program.
Amendments
Razorpay may amend these Shield Terms at any time by posting the updated terms on its website or by providing notice to the Merchant via the Merchant's Dashboard or registered email address. The Merchant's continued use of the Program after such notice or posting shall constitute its acceptance of the updated terms.
