SHAREit Payment Terms and Conditions

These terms and conditions ("Terms") are applicable to the use of 'Unified Payments Interface' ("UPI") services ("UPI Services") by the customer offered by SHAREit Technology India Private Limited ("SHAREit"), a private limited company registered under the provisions of Companies Act, 2013, having its registered office at 16-004, 16-005, 16th Floor Palm Spring Plaza, Golf Course Road, Gurgaon-122002, Haryana in association with Scheduled Commercial Bank(s) in India, in accordance with the UPI procedural guidelines and/ or circulars issued by the National Payments Corporation of India ("NPCI") and/ or the Reserve Bank of India ("RBI"), from time to time (collectively referred to as the "UPI Guidelines"). The UPI Services are being offered under the brand 'SHAREit'.

UPI is a payment platform developed by the NPCI, a RBI regulated entity, which facilitates online payment and allows the customer to make instant online payments between bank accounts of any two parties. The customer authorizes SHAREit to forward to the bank, the customers request to debit the linked bank account when the customer makes payment using the UPI Services. The customer is solely responsible for complying with any terms set by his bank or with respect to his bank account, including any conditions in relation to the fees that may be charged by his bank. The Terms stated herein below shall be applicable on the customer initiating payment by way of UPI on SHAREit application. Before using the UPI Services, the Customer is advised to read these Terms carefully. Usage of UPI Services by the Customer(s) shall be construed as deemed acceptance of the Terms, mentioned herein below.

1. Eligibility

The customer will be eligible to use SHAREit UPI Services, if the customer: (a) has registered for SHAREit UPI Services; (b) is a resident of India; (c) has attained the age of 18 years; (d) has a bank account in UPI member banks; and (e) has registered for SHAREit UPI Services with the same mobile number as with there respective banks. The customer agrees to provide true information during the process of registration, including but not limited to age, nationality, mobile number etc. It will be the sole responsibility of the customer to keep the account information updated at all times. If the account information provided by the customer is found to be untrue, SHAREit, at its sole discretion will have the right to suspend the services to such customer.

2. Transactions through UPI

The eligible customer will be able to transact using SHAREit UPI Services for facilitating payments between Peer to Merchant. Customer can use SHAREit virtual payment address to make payment on SHAREit application or any other Merchant application/ Merchant physical outlet (using QR code), which accept payments through UPI Services for the purchase of goods/ services. For the purpose of availing the UPI Services, the customer should ensure availability of sufficient funds in the linked bank account and a proper internet connection at the time of making any payment.

Unless otherwise stated, the expression "Merchant" means any person / entity accepting payment online or through physical mode for purchase of goods and services and includes SHAREit

3. UPI Services

A. SHAREit IN-APP PAYMENTS

For new SHAREit customer:

Downloading SHAREit application on the mobile phone device and signing up to the SHAREit account or signing in using the Facebook account credentials (subject to SHAREit Privacy Policy ). The customer is mandatorily required to download the SHAREit application on a smartphone to be able to transact using SHAREit UPI Services;

For already registered SHAREit account holder:

Opening SHAREit application on the mobile phone device and signing in to SHAREit application using SHAREit account credentials.

A unique payment identifier linked to the customers bank account referred to as Virtual Payment Address ("VPA"), is required for the UPI transactions (example: abc@upi).

Customer can create a VPA with linked bank account on the SHAREit application using the following steps:

(i) Click ‘Add Bank Account’ option either via ‘My Payment’ page or ‘Cashier’ page, to select the preferred bank amongst list of UPI member banks;

(ii) Mobile device & SIM card of the customer will be checked by SHAREit.

a. For a new SIM card, a SMS will be sent from the customer’s mobile phone for verification of the mobile number with the bank. Once the registered mobile number is verified with the bank, a default VPA will be created.

b. For device and SIM card matched with the database of UPI, an existing VPA will be provided.

(iii) Bank will share the masked bank account number according to the registered mobile number to SHAREit. The customer needs to select one bank account to link with the VPA.

(iv) UPI Personal Identification Number ("UPI PIN") needs to be set for the selected account;

The UPI PIN set by the customer can be used for sending money to other VPA. The customer is required to authorize each UPI payment transaction by providing the UPI PIN.

a) In the event that the customer has a 4-6 digits UPI PIN for the linked bank account, then the customer is required to enter the UPI PIN and continue with making the payment and completing the transaction.

b) In the event that the customer has never generated a UPI PIN, the customer is required to set a UPI PIN in the following manner:

To fulfill a UPI transaction on SHAREit application through “Cashier” page, the customer shall follow the below steps:

(i) Choose the following way to pay:

a. Select SHAREit VPA and a linked bank account from which the payment is to be made; or

b. Provide an existing VPA to initiate a “Collect Request”; or

c. Choose any other UPI apps

(ii) Customer need to enter the UPI PIN to authorize the UPI transaction. Customer need to ensure there is enough money in the bank account and need to provide the correct UPI PIN;

(iii) Then an appropriate transaction status will be displayed on the SHAREit application of the customer.

B. PAYMENT ON MERCHANT APPLICATION OTHER THAN SHAREit USING SHAREit VPA

In the event that the customer uses SHAREit VPA for making payment on any Merchant application other than SHAREit application, the customer is required to make the payment in the following manner:

(i) Select UPI as the preferred payment method for transaction on the checkout page on Merchant application;

(ii) Insert SHAREit VPA and continue;

(iii) A 'Pay Request' notification will appear on SHAREit application from the Merchant, displaying the transaction details;

(iv) Customer can either Accept or Decline the 'Pay Request'.

(v) Based on the customer’s action on the “Pay Request”, an appropriate transaction status will be displayed on the SHAREit application of the customer.

4. Mobile Number

In the event that the mobile number of the customer is not registered with the UPI member bank, the registration will fail and customer will not be able to create VPA on SHAREit. It is mandatory for the customer to first register his mobile number with the bank.

The customer is required and expected to update any change in the mobile number with SHAREit and the bank and re-register with the new mobile number with SHAREit;

Customer should authorize SHAREit to send SMS from his mobile phone for the purpose of registration or processing of UPI transactions on the SHAREit application. SHAREit does not take any responsibility for any third-party charges (including any charges from internet and telecommunication services providers) in relation to or arising from customer’s use of Services.

5. VPA/ UPI PIN Confidentiality

The customer acknowledges that SHAREit VPA and UPI PIN are required at all times to make payment using SHAREit UPI Services. The UPI PIN is issued by the bank and is not stored by SHAREit. The customer should take all necessary steps to protect the mobile device and ensure the confidentiality of SHAREit VPA, UPI PIN or any information related to the use of SHAREit UPI Services. Sharing such information with any third party may lead to unauthorized usage and the customer unconditionally accepts the responsibility for all activities that occur by use of SHAREit VPA and UPI PIN. The customer should inform SHAREit immediately if the customer has any apprehension or has any reason to believe that his VPA or UPI PIN has become known to any third party, or if SHAREit VPA or UPI PIN is being, or is likely to be, used in an unauthorized manner.

6. UPI Transaction Limits

UPI Guidelines issued by NPCI allow an eligible customer to use SHAREit UPI Services for making a maximum 20 transactions, within 24 hours time period and having cumulative monetary value of Rs. 1,00,000/-. These limits are applicable to UPI transactions made against a single mobile number in live environment.

The upper limit for each UPI transaction has been set at Rs.1,00,000/- (Rupees One Lakh only) or any lower limit prescribed by the customers’ bank from time to time. Please get in touch with the bank to know more about any bank specific transaction limits for UPI.

7. Currency

SHAREit UPI Services will only be used for transactions in Indian Rupees, unless otherwise permitted by UPI Guidelines.

8. Charges

Registering with SHAREit is free and SHAREit will not charge customers any registration fees for creating an account or using the services. SHAREit may at any time and at its sole discretion change its fee policy and charge fee for the services, upon giving prior notification to the customer.

A transaction fee may be charged by the customers’ bank for UPI transaction made using SHAREit UPI Services. Please check with the bank in this regard.

9. Fraudulent/ Rejected Transactions

(a) SHAREit may, at its sole discretion, suspend the access of a customer to SHAREit UPI Services, if it has reasons to believe that there is suspicious or unusual or unauthorized activity being carried out through the customers SHAREit VPA and UPI PIN.

(b) The customer agrees that SHAREit UPI Services will be used for lawful purposes only. SHAREit may reject the UPI transaction for any reason, including but not limited to risk management, fraud, and/ or transactions in violation of applicable laws or SHAREit Terms of Service.

10. SHAREit Role

By using SHAREit UPI Services, the customer agrees and acknowledges that SHAREit is only a platform provider to the customer in relation to making payment using the UPI Services. SHAREit shall not be liable and/or held responsible in any manner for occurrence of any interrupted payment or error using UPI Services. SHAREit disclaims and assumes no liability for the products purchased or services availed through other Merchant platforms using SHAREit UPI Service. While SHAREit endeavors to process the UPI transactions in a timely manner, on a few occasions there may be delays in processing the UPI transactions.

11. Privacy

The personal information/ data provided to SHAREit by the customer during the course of usage of SHAREit UPI Services shall be used only for the purpose of completing the UPI transaction and will be treated in accordance with the Privacy Policy of SHAREit and applicable laws and regulations. While SHAREit endeavors to keep the information secured and prevent hacking, SHAREit disclaims all liability for of any loss or damage that the customer may suffer on account of manipulation of any data or information. The customer shall not be required or asked to disclose any confidential or personal data, which may be prejudicial to the interests of the customer. If the customer has an objection to the personal information being used, the customer is advised to not use the UPI Services for making the payment. The customer acknowledges to have read and understood and accepted the terms and conditions of the SHAREit privacy policy

12. Communications

The customer acknowledges that while using SHAREit UPI Services the customer is communicating with SHAREit electronically. SHAREit may communicate with the customer by e-mail, SMS or by any other mode of communication. For contractual purposes, the customer consents to receive communications including SMS or an e-mail or push notifications from SHAREit with respect to SHAREit UPI Services availed using SHAREit application.

13. Indemnity

The customer agrees to indemnify SHAREit for all claims brought by a third party, against it or its affiliates, arising out of or in connection with a breach of any of these Terms and/ or use of SHAREit UPI Services.

14. Amendments to the Terms of Use

SHAREit may at any time, without prior notice, change, modify, alter, add or remove these Terms or any part thereof. The most updated version of these Terms will be updated on this page. By continuing to use SHAREit UPI Services, the customer is deemed to have taken notice of the amended Terms and hereby agrees to be bound by such amended Terms.

15. Suspension and/ or Termination of Service

SHAREit may, in its sole and absolute discretion, suspend or terminate the UPI Services, without notice and/ or without liability to the customer or any third party, for any reason, including without limitation, inactivity or violation of these Terms or other policies of SHAREit.

16. Disclaimer

All services, contents, software, functions, materials, and information made available or provided in connection with or accessible through SHAREit UPI Services, are provided "as is" to the fullest extent permissible by law. SHAREit makes no representation or warranty of any kind whatsoever for the services or the contents, materials, information and functions made accessible through SHAREit UPI Services, or for any breach of security associated with the transmission of sensitive information through SHAREit UPI Services. SHAREit disclaims without limitation, warranty of any kind, either express or implied, with respect to the UPI Services, non-infringement, merchantability, or fitness for a particular purpose. SHAREit does not warrant that the functions contained in the UPI Services will be uninterrupted or error free. In no event SHAREit shall be held responsible for any service interruptions, including but not limited to system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of UPI transactions through SHAREit UPI Services.

17. Governing Law and Jurisdiction

By using SHAREit UPI Services, the customer agrees that the laws of India and any dispute of any sort that might arise between the customer and SHAREit. Any dispute relating in any way with the customers usage of SHAREit UPI Services shall be submitted to the exclusive jurisdiction of the courts at Gurugram, Haryana.

18. Grievance Redressal and Customer Service

In case of any dispute or grievance with respect to the UPI transaction processed through SHAREit application, the customer will have the option to register the complaint/ service request for the disputed transaction on SHAREit application and SHAREit will endeavor in good faith to settle/ resolve the dispute.