Terms of Use

Welcome to Beyound Wallet, a service provided by BeyoundExtra Tech Pvt Ltd (“Beyound”, “we”, “us”, or “our”). These Terms of Use (“Terms”) govern your access to and use of the Beyound platform for the purpose of loading money via any supported payment mode (credit card, debit card, net banking, UPI) into a digital wallet and subsequently transferring those funds to the bank account of any beneficiary (the “Wallet Service”). By using the Wallet Service, you agree to be bound by these Terms.

If you do not agree to these Terms, you must not use the Wallet Service.

• Our Role

• Beyound is a technology platform that enables registered users to:

• Load money from their credit card into a Beyound wallet.

• Transfer funds from the wallet to any valid bank account (beneficiary).

• We do not provide banking, lending, credit underwriting, financial advisory, or deposit-taking services. Our role is strictly that of a payment facilitator and wallet service provider.

• When you use the Wallet Service, you confirm that:

• You are the lawful owner of the credit card used to load the wallet.

• You will use the wallet only for legitimate, lawful purposes (e.g., making payments to genuine beneficiaries).

• All information you provide (including KYC documents and beneficiary details) is accurate and complete.

• Important Restriction: Funds credited to the Beyound Wallet cannot be withdrawn from the wallet or converted into cash. They may only be used for onward bank transfers to beneficiaries. Any attempt to cash out or withdraw wallet funds to yourself or an unrelated party may result in immediate account termination and reporting to regulatory authorities.

• Definitions

• Eligibility

• By registering for and using the Wallet Service, you represent and warrant that:

• You are at least 18 years of age and legally competent to enter into binding contracts.

• You are not barred under applicable laws (including RBI or NPCI guidelines) from using prepaid payment instruments.

• You authorize Beyound to collect and verify your KYC details (PAN, Aadhaar, Video KYC, etc.) as required under applicable laws.

• You are responsible for maintaining the accuracy and confidentiality of your account information.

• If you permit another person to use your account, you remain fully liable for their actions.

• KYC and Video Verification

• To comply with RBI’s Prepaid Payment Instrument (PPI) guidelines, anti-money laundering (AML) regulations, and other legal requirements, Beyound mandatorily requires:

• Video KYC: A live, real-time video interaction with a Beyound representative, during which you must present original identification documents (e.g., PAN card, Aadhaar letter, Voter ID). The session will be recorded and stored securely.

• Document Submission: Clear copies of your PAN, Aadhaar, and proof of address.

• Additional Information: Such other details as may be required by Beyound or regulators from time to time.

• Failure to complete Video KYC and document verification will result in inability to activate or use the Wallet Service. You are responsible for ensuring that all information provided is authentic and up-to-date.

• Wallet Loading

• Authorisation

• By initiating a load transaction, you authorise Beyound to:

• Debit your designated credit card for the load amount plus any applicable fees.

• Credit the equivalent amount (minus fees) to your Beyound Wallet.

• Load Limits

• Beyound may impose daily, weekly, or monthly load limits as per regulatory requirements or internal risk policies. These limits will be disclosed in the app.

• Failed Loads

• If a load transaction fails (e.g., insufficient credit limit, technical error), Beyound will refund the amount (after deducting applicable gateway charges and taxes) to your credit card in accordance with the Cancellation and Refund Policy.

• Wallet Transfers (to Beneficiary Bank Accounts)

• Authorisation

• By initiating a transfer, you authorise Beyound to:

• Deduct the transfer amount plus any applicable fees from your Wallet balance.

• Route the funds to the beneficiary’s bank account (as per the details you provide).

• Accuracy of Beneficiary Details

• You are solely responsible for ensuring the correctness of the beneficiary’s name, bank account number, IFSC code, and any other required details. Beyound is not liable for transfers made to incorrect accounts due to your error.

• Transfer Limits

• Beyound may impose daily, weekly, or monthly transfer limits. These limits will be disclosed in the app.

• Transfer Confirmation

• Once a transfer is successfully processed, you will receive a confirmation receipt. The transfer is irrevocable after settlement.

• No Cash Withdrawal or Wallet-to-Wallet Transfer

• No Cash Withdrawal: You may not withdraw funds from your Beyound Wallet to cash (physical currency) or transfer them to your own bank account (or any account that would effectively convert wallet funds to cash). Any attempt to do so is a material breach of these Terms.

• No Wallet-to-Wallet Transfer: You may not transfer funds from your Beyound Wallet to another Beyound Wallet or any other digital wallet.

• Permitted Use Only: Wallet funds may only be used for direct bank transfers to legitimate third-party beneficiaries (e.g., rent payment, vendor payment, education fee). Beyound may request proof of the underlying relationship with the beneficiary.

• Violation of this section may result in immediate account suspension, forfeiture of wallet balance (to the extent permitted by law), and reporting to regulatory authorities.

• Fees and Charges

• Load Fee: Beyound may charge a convenience fee for loading money into the Wallet (via credit card, debit card, net banking or UPI, as applicable). The fee is disclosed at the time of load.

• Transfer Fee: Beyound may charge a fee for each bank transfer from the Wallet. The fee is disclosed before you confirm the transfer.

• Third-Party Charges: Any additional fees imposed by your card issuer, bank, or payment network (e.g., currency conversion fees, interest) shall be borne by you.

• Fee Revisions: Beyound reserves the right to revise its fees with prior notice via in-app or email communication. Continued use of the Wallet Service after the effective date of revised fees constitutes your acceptance.

• Rewards and Cashback

• Beyound may offer cashback or reward programs for eligible wallet load or transfer transactions. Such offers are governed by the specific terms displayed within the app at the time of the offer.

• Eligibility: Only transactions meeting the stated criteria qualify.

• Disbursal: Cashback will be credited as per the campaign terms.

• Modification: Beyound may modify, withdraw, or discontinue any reward program at its sole discretion without prior notice.

• Reversal: Cashback credited erroneously or resulting from invalid transactions may be reversed without notice.

• Tax Compliance

• You are solely responsible for complying with all applicable tax laws, including but not limited to income tax reporting on wallet transactions. Beyound may report wallet transactions to tax authorities as required by law.

• Beyound does not compute, deduct, or remit TDS on your behalf unless mandated. Any liability, penalty, or consequence arising from non-compliance with tax obligations rests entirely with you.

• Refunds and Chargebacks

• Failed Loads: If a load transaction fails, the amount (minus applicable gateway charges and taxes) will be refunded to your credit card.

• Failed Transfers: If a bank transfer fails (e.g., incorrect IFSC code), the amount will be returned to your Wallet balance (minus any applicable charges).

• No Refund for Successful Transfers: Once a transfer is successfully credited to the beneficiary’s bank account, Beyound will not reverse it. You must seek recovery directly from the beneficiary.

• Chargebacks: If your credit card issuer initiates a chargeback for a load transaction, Beyound may deduct the corresponding amount from your Wallet balance (even if negative) and suspend your account.

• Wrongful or Excess Credits

• In the event that funds are wrongfully credited to your Wallet (e.g., due to a technical error), Beyound reserves the right to:

• Reverse or recover such wrongful amounts without your consent; and

• Suspend or restrict your Wallet until the recovery is completed.

• You agree that any wrongful credit does not create a valid claim in your favour and you will cooperate fully in facilitating the reversal or recovery.

• Wallet Closure and Dormancy

• Voluntary Closure: You may close your Wallet at any time by contacting customer support. Any remaining balance will be refunded to your original credit card (minus applicable charges) within 30 days, subject to verification.

• Dormancy: If your Wallet remains inactive (no load or transfer) for 12 consecutive months, Beyound may classify it as dormant. Dormant wallets may incur a maintenance fee (disclosed separately) or be closed with balance refunded to your credit card after deducting applicable charges.

• Involuntary Closure: Beyound may close your Wallet immediately if you breach these Terms, attempt to cash out, or violate any law.

• Limitation of Liability

• To the maximum extent permitted by law:

• Beyound shall not be liable for any direct, indirect, incidental, or consequential damages arising from your use of the Wallet Service.

• Beyound is not responsible for disputes between you and any beneficiary, nor for errors caused by inaccurate information you provide.

• Beyound’s aggregate liability arising out of or related to these Terms shall not exceed the total fees paid by you for the disputed transaction.

• Force Majeure

• Beyound shall not be held liable for any delay or failure to perform its obligations due to causes beyond its reasonable control, including but not limited to natural disasters, government actions, cyberattacks, network outages, or failures of third-party service providers.

• Termination of Access

• Beyound may, at its sole discretion, suspend or terminate your access to the Wallet Service without notice if:

• You breach these Terms (including any attempt to cash out).

• You provide false KYC information or fail Video KYC.

• Required by law or regulatory directive (including RBI).

• There are security concerns.

• Upon termination, any pending transfers may be cancelled, and any remaining Wallet balance will be refunded to your credit card (minus applicable charges) after compliance verification.

• Governing Law and Dispute Resolution

• These Terms are governed by the laws of India.

• Arbitration: Any dispute arising out of or relating to these Terms shall be settled by a sole arbitrator appointed under the Arbitration and Conciliation Act, 1996. The seat and venue of arbitration shall be Bengaluru, India. The language of the arbitration shall be English.

• Jurisdiction: Subject to the arbitration provision, the courts of Bengaluru shall have exclusive jurisdiction.

• Indemnity

• You agree to indemnify and hold harmless Beyound, its directors, employees, and affiliates from any loss, claim, penalty, or damage arising out of or related to:

• Your misuse of the Wallet Service (including attempted cash withdrawal).

• Provision of false or inaccurate KYC information.

• Your non-compliance with applicable laws, including tax obligations.

• Any dispute between you and a beneficiary.

• Waiver of Rights

• To the fullest extent permitted by law, you waive any claims against Beyound for loss or liability arising from:

• Unauthorised access or misuse of your data, except where caused by Beyound’s gross negligence.

• Disputes with beneficiaries or third parties.

• Errors in transaction details entered by you.

• Modification of Terms

• Beyound reserves the right to modify, amend, or replace these Terms at any time without prior notice. Any changes will be published on the Platform, and the “Last Updated” date will be revised. Your continued use of the Wallet Service after the effective date constitutes acceptance of the modified Terms.

• Grievance Redressal

• If you have any queries, concerns, or complaints regarding the Wallet Service, you may contact our Grievance Team:

• Email: support@beyound.in Customer Support Hours: 24×7

• If your grievance is not resolved to your satisfaction, you may escalate to the Grievance Redressal Officer:

• Mr. Vinod Kumar Email: vinod@beyound.in Phone: +91 8069240024 Address: First Floor, Building No. 138, 4th Main Road, Industrial Town, Rajajinagar, Bangalore North, Bangalore – 560010, Karnataka, India

• We will acknowledge your complaint within 48 hours and strive to resolve it within 7 working days.

• Acceptance

• By using the Beyound Wallet Service, you acknowledge that you have read, understood, and agreed to these Terms of Use and the associated Privacy Policy. If you do not agree, you must discontinue use immediately.

BeyoundExtra Tech Pvt Ltd

Contact: support@beyound.in