Terms and Conditions

Wavefin Technologies Private Limited ("Wavefin") is a private company engaged in providing financial technology products and services to merchants through its digital platform, including payment processing, UPI-based transactions, and other value-added services ("Wavefin Services"). By accessing or using Wavefin Services, you (“Merchant” or “User”) agree to be bound by the following terms and conditions.

1. Definitions

  • Customer: Any individual or entity that purchases goods and/or services from the Merchant and makes payments using Wavefin Services.
  • Customer Payment Amount: The amount paid by the Customer for goods and/or services using Wavefin's payment services.
  • Processing Mechanism: Payment processing through various modes, including UPI, IMPS, NEFT, RTGS, and other methods as notified by Wavefin from time to time.
  • Transaction: An electronic financial transaction processed using Wavefin Services.
  • UPI: Unified Payments Interface, a payment system enabling seamless fund routing and merchant payments across multiple bank accounts.

2. Eligibility to Use

  • You are a legal person authorized to enter into a binding agreement.
  • Your employees or representatives accessing Wavefin are duly authorized to bind you to these terms.
  • All registration information you provide is accurate and up to date.
  • You are located in India at the time of registration and transaction processing.
  • You must have an active Indian mobile number and bank account.

3. Scope of Services

Wavefin provides payment processing solutions, including merchant dashboards, API services, UPI-based collections, and value-added services such as bill payments, recharge, and loan facilitation. Wavefin reserves the right to modify, add, or remove services at its sole discretion without prior notice. Any changes to these terms will be effective immediately upon posting on the Wavefin platform. Continued use of the services shall imply acceptance of the revised terms.

4. Wavefin Fees

  • The Merchant shall pay Wavefin fees for the services provided, as outlined in Annexure A.
  • Fees are exclusive of applicable taxes, which shall be charged to the Merchant.
  • Wavefin reserves the right to deduct fees and applicable taxes from any payments made to the Merchant.
  • MDR (Merchant Discount Rate) charges may apply based on transaction type and merchant classification.

5. Payments and Settlements

By accepting these terms, you authorize Wavefin to hold, receive, and settle funds on your behalf for transactions processed through Wavefin Services. Wavefin will initiate settlement of Customer Payment Amounts to the Merchant's registered bank account within T banking days from the successful transaction date, after deducting applicable fees. Wavefin shall only be liable to settle funds upon actual receipt from the Customer's bank or payment provider.

6. Representations, Warranties, and Obligations

  • All information provided to Wavefin must be true, accurate, and complete.
  • You must be the legal owner of the bank account registered with Wavefin.
  • Goods and services sold by you must comply with Indian law and not be prohibited or offensive.
  • You shall not engage in fraudulent activities or misuse Wavefin Services.
  • You shall provide valid KYC documents and consent to Wavefin’s use of such information for service facilitation.
  • The QR code generated by Wavefin is unique to you and must be kept confidential. Wavefin shall not be liable for misuse due to your negligence.
  • You agree to promote Wavefin Services at your business premises and website.
  • You shall not impose additional charges on customers for UPI or other payment methods.
  • Wavefin reserves the right to suspend or terminate services in case of misuse, fraud, or non-compliance with applicable regulations.

7. Unauthorized Transactions and Risk Management

Wavefin may suspend payment processing or settlement if suspicious or unusual activity is detected. You must promptly report any unauthorized transactions to Wavefin for investigation. Wavefin shall not be liable for losses arising from unauthorized transactions resulting from compromised merchant credentials or devices.

8. Right to Audit and Inspection

  • Wavefin and its partners reserve the right to conduct audits and inspections of merchant premises and transaction records to ensure compliance.
  • The Merchant shall cooperate with such audits and provide required documentation without delay.
  • Wavefin may suspend or terminate services if the Merchant fails to comply with audit requests.

9. Data Privacy and Confidentiality

Wavefin shall collect and process merchant and customer data in accordance with its Privacy Policy. You authorize Wavefin to access and use your data for transaction processing, fraud prevention, and service enhancement. Wavefin shall implement appropriate security measures to protect your information from unauthorized access.

10. Termination and Suspension

  • Wavefin may suspend or terminate services with immediate effect if the Merchant violates these terms, engages in fraudulent activities, or if regulatory authorities direct such action.
  • The Merchant may terminate services by providing 30 days’ written notice to Wavefin.

11. Liability and Indemnification

  • Wavefin shall not be liable for any indirect, incidental, or consequential losses arising from the use of its services.
  • The Merchant shall indemnify Wavefin against claims, damages, or losses resulting from misuse of Wavefin Services, breach of these terms, or fraudulent transactions.

12. Governing Law and Dispute Resolution

  • These terms shall be governed by the laws of India.
  • Any disputes arising from these terms shall be subject to the exclusive jurisdiction of the courts of New Delhi, India.
  • Parties shall attempt to resolve disputes amicably through mutual discussion before initiating legal proceedings.

13. Miscellaneous

  • Force Majeure: Wavefin shall not be liable for delays or failures resulting from events beyond its reasonable control, including natural disasters, power outages, and regulatory actions.
  • Severability: If any provision of these terms is deemed invalid, the remaining provisions shall continue to apply.
  • Assignment: The Merchant shall not assign or transfer rights or obligations under these terms without Wavefin’s prior written consent.

14. Contact Us

For further assistance or to report grievances, please contact Wavefin Support at:

📧 support@wavefin.tech |