Terms & Conditions — Merchant Service Agreement
The legally binding terms governing access and use of the MSPay Multi-Bank Payment Gateway, Payout Switches, and BBPS Utility Network.
1. Acceptance of Terms
By signing up for an MSPay merchant account, integrating our API endpoints, or accessing our services, you agree to be bound by these Terms and Conditions executed between MSPay Technologies Private Limited and your business entity.
2. Merchant Settlement Cycles
Subject to verified KYC and standard fraud risk reviews:
- Standard settlements are disbursed on a T+1 business day basis into your registered operating bank account.
- Merchants opting for Instant T+0 Settlements agree to the applicable liquidity treasury fee and automated intra-day batch processing schedules.
- MSPay reserves the right to withhold settlements in the event of suspected unauthorized transactions, excessive chargeback ratios (> 1%), or regulatory inquiries.
3. Acceptable Use and Prohibited Businesses
Merchants must not utilize MSPay infrastructure for unlawful activities, unlicensed gaming or betting, counterfeit goods, pyramid schemes, or any products prohibited under the Reserve Bank of India (RBI) guidelines.
4. Chargeback and Dispute Liability
The merchant is solely responsible for fulfilling customer orders. In the event of a customer dispute or cardholder chargeback, the merchant agrees to provide verifiable proof of delivery within 5 business days. Uncontested or lost chargebacks will be debited from merchant settlement balances.
5. Governing Law and Jurisdiction
These Terms and Conditions shall be governed by and construed in accordance with the laws of India. Any legal disputes arising out of this agreement shall be subject to the exclusive jurisdiction of the courts located in Bengaluru, Karnataka, India.