Terms of Use
These Terms of Use govern your use of the Nodal Pay website today and, once the app launches, your use of the Nodal Pay application.
1. Introduction and acceptance
These Terms of Use ("Terms") are published by [LEGAL ENTITY NAME] ("Nodal Pay", "we", "us", "our"), the operator of the Nodal Pay website and the planned Nodal Pay mobile application (together, the "Platform").
By accessing this website, and by registering for or using the app once it launches, you agree to be bound by these Terms, our Privacy Policy, our Acceptable Use Policy, and any other policies referenced here. If you do not agree, please do not use the Platform.
2. Current status of the platform
The Nodal Pay app is currently under development and is not yet available to the public. At present, this website is informational only: it describes features we plan to offer and how we expect the product to work.
All descriptions of app features on this website, including the Safe Deal Room, Deal Cards, and protected payments, are forward looking statements about a product in development. They may change, be delayed, or be released in a different form, depending in part on applicable law and the requirements of regulated payment partners. Nothing on this website is an offer of a live financial service.
3. Eligibility
Use of the Platform is intended for people who:
- are at least 18 years of age;
- are competent to enter into a binding contract under the Indian Contract Act, 1872; and
- are resident in India, where the service is initially planned to operate.
We may set further eligibility and verification requirements before launch, which will be published in our KYC and Verification Policy.
4. Accounts and mobile number verification
When the app launches, creating an account is expected to require a valid Indian mobile number verified by a one time password, along with any identity information required under applicable law.
You will be responsible for keeping your device and account credentials secure, and for all activity carried out through your account. You must notify us promptly at [SUPPORT EMAIL] if you suspect unauthorised access to your account.
5. Nature of the service
Nodal Pay is designed to be a technology platform that helps buyers and sellers record what they have agreed and coordinate payment against that agreement. To be clear:
- Nodal Pay is not a bank and does not accept deposits;
- Nodal Pay does not itself guarantee any transaction, the conduct of any user, or the quality of any goods or services exchanged between users;
- Nodal Pay is not a party to the underlying contract between a buyer and a seller; and
- the final payment and fund handling structure will depend on applicable law, including applicable RBI regulations, and on arrangements with regulated payment partners. Details of that structure will be published before launch.
6. The planned deal flow
Once launched, the app is planned to work broadly as follows. Each step below describes a planned feature, not a live service:
- Request: a buyer or seller creates a payment or deal request and shares it with the other party.
- Safe Deal Room: both parties discuss and record the terms of the transaction, item or service, price, delivery expectations, in a structured space within the app.
- Deal Card confirmation: the agreed terms are summarised on a Deal Card, which both parties confirm before any payment is made.
- Securing the payment: the buyer's payment is intended to be held under the fund handling structure described in Section 5 while the deal is carried out.
- Release: the payment is intended to be released to the seller after the agreed transaction is completed, or handled under our Refund and Cancellation Policy and Dispute Resolution Policy if something goes wrong.
You can read a plain language overview of this flow at How It Works.
7. User responsibilities and accurate information
You agree to provide information that is true, accurate, current, and complete, and to keep it updated. This applies to registration details, verification information, and the terms you record in any deal.
You are responsible for the transactions you enter into with other users, including complying with the laws that apply to what you buy or sell. Please exercise the same care you would in any transaction with a person you do not know.
8. Prohibited conduct
You must not use the Platform to deal in unlawful goods or services, mislead or defraud other users, launder money, harass anyone, interfere with the operation of the Platform, or attempt to access it in an unauthorised way.
This is a summary only. The full list of prohibited activities is set out in our Acceptable Use Policy and our AML and Prohibited Activities Policy, both of which form part of these Terms.
9. Fees and charges
We have not yet finalised our pricing. A clear schedule of any fees and charges, including applicable taxes, will be published before launch and before any fee is charged to you. Continued use of the app after a fee schedule takes effect will constitute acceptance of it.
10. Intellectual property
The Platform, including the Nodal Pay name, logo, designs, text, and software, is owned by or licensed to [LEGAL ENTITY NAME] and is protected under applicable intellectual property laws. You may not copy, modify, distribute, or create derivative works from the Platform except as permitted by law or with our prior written consent.
Content you submit through the Platform remains yours. You grant us a limited licence to use it as needed to operate and improve the Platform, as described in our Privacy Policy.
11. Third party services
The Platform may rely on or link to services provided by third parties, such as regulated payment partners, app stores, and analytics or communication providers. Those services are governed by their own terms and policies, and we are not responsible for them. Any third party integrations material to how payments work will be described before launch.
12. Disclaimers and limitation of liability
The website is provided on an "as is" and "as available" basis, and the app, when released, is expected to be provided on the same basis. To the extent permitted by law, we disclaim all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, and uninterrupted or error free operation.
To the extent permitted by applicable law, [LEGAL ENTITY NAME] shall not be liable for indirect, incidental, special, consequential, or punitive damages, or for loss of profits, data, or goodwill, arising out of or in connection with the Platform. Nothing in these Terms limits liability that cannot be limited under Indian law. See also our Disclaimer.
13. Indemnity
You agree to indemnify and hold harmless [LEGAL ENTITY NAME], its directors, employees, and agents from claims, losses, and expenses (including reasonable legal costs) arising from your breach of these Terms, your misuse of the Platform, or your violation of applicable law or the rights of any third party.
14. Suspension and termination
We may suspend or terminate your access to the Platform, or restrict specific features, where we reasonably believe you have breached these Terms or any linked policy, where required by law or a lawful order, or where necessary to protect other users or the Platform. Where practicable and lawful, we will tell you why and give you an opportunity to respond through our grievance process.
You may stop using the Platform at any time and, once the app launches, request closure of your account, subject to our Data Retention and Deletion Policy and any record keeping required by applicable law.
15. Governing law and jurisdiction
These Terms are governed by the laws of India, including the Information Technology Act, 2000 as applicable. Subject to any mandatory dispute resolution requirements under applicable law, the courts at [CITY, STATE] shall have exclusive jurisdiction over disputes arising out of these Terms.
16. Changes to these terms
Because the product is still under development, we expect these Terms to change before and after launch. When we make material changes, we will update the "Last updated" date above and, where appropriate, notify you through the website or the app. A final version of these Terms will be published before the app launches.
17. Grievances and contact
If you have questions about these Terms, or a complaint about the Platform, you can reach us through the Contact page or by writing to [SUPPORT EMAIL].
Details of our planned grievance process, including the designated Grievance Officer and expected response timelines, are set out in our Grievance Redressal Policy.