PAYMENT TERMS & CONDITIONS

PAYMENT TERMS & CONDITIONS
PAYFX GLOBAL
(Applicable for Online and Offline Payment Instructions)

PayFX Global is a brand of PayFX Fintech Solutions Private Limited providing international payment facilitation, foreign exchange assistance, institutional payment solutions, and cross-border remittance support through regulated banking and financial institution partnerships.

These Terms & Conditions govern all payments made through PayFX Global, including:

• Online payments through payment gateway channels; and
• Offline payments made against payment instructions issued by PayFX Global.

By initiating, authorizing, or completing any payment transaction through PayFX Global, you (“Customer”, “User”, or “Payer”) agree to these Terms & Conditions.

1. GENERAL TERMS

1.1 All transactions processed through PayFX Global are subject to applicable:

• RBI/FEMA regulations;
• AML/KYC compliance requirements;
• Banking and financial institution policies;
• Applicable taxation and regulatory laws.

1.2 PayFX Global reserves the right to request additional documents, verification, or information before processing any transaction.

1.3 Customers are solely responsible for ensuring that all payment details, beneficiary details, and transaction information submitted are accurate and complete.

2. ONLINE PAYMENT TERMS
(Payment Gateway Transactions)

2.1 Payment Processing
Online payments made through the PayFX Global payment gateway may be processed through authorized banking partners, payment aggregators, card networks, UPI systems, net banking channels, or regulated financial institutions.

2.2 Authorization
By proceeding with an online payment, you authorize PayFX Global and its authorized payment partners to:

• Process the transaction;
• Debit the selected payment method;
• Conduct verification and compliance checks;
• Process currency conversion where applicable.

2.3 Transaction Verification
Online transactions may be subject to:

• OTP authentication;
• 3D Secure verification;
• Fraud and risk monitoring;
• KYC/AML verification;
• Additional security validation.

PayFX Global reserves the right to hold, reject, or cancel transactions identified as suspicious or non-compliant.

2.4 Failed or Declined Transactions
PayFX Global shall not be responsible for payment failures caused by:

• Banking system downtime;
• Card issuer restrictions;
• Insufficient balance;
• Technical interruptions;
• Payment gateway failures;
• Incorrect payment details;
• Regulatory restrictions.

Any debited amount for failed transactions shall be refunded subject to banking and payment partner timelines.

3. OFFLINE PAYMENT TERMS
(Payment Instruction / Bank Transfer Transactions)

3.1 Payment Instructions
Customers may receive a payment instruction issued by PayFX Global containing:

• Beneficiary details;
• Bank account information;
• Currency and amount payable;
• Reference or transaction number;
• Payment timelines and conditions.

3.2 Customer Responsibility
Customers must ensure:

• Payment is made only to the official bank account mentioned in the payment instruction;
• The exact payment reference/instruction number is quoted during remittance;
• Funds are transferred from lawful and verifiable sources;
• Payment is completed within the validity period of the instruction.

3.3 Verification and Allocation
Offline payments shall be processed only after:

• Receipt of cleared funds;
• Internal transaction verification;
• Compliance and KYC review;
• Confirmation of payment details.

Customers may be required to upload or submit:

• UTR/transaction reference number;
• Payment receipt;
• Bank transfer confirmation;
• Supporting invoices or documents.

3.4 Delayed or Unidentified Payments
PayFX Global shall not be liable for delays caused due to:

• Missing transaction references;
• Incorrect payment information;
• Delayed banking systems;
• Intermediary bank processing;
• Compliance review or regulatory checks.

Unidentified funds may remain on hold until proper verification is completed.

4. FOREIGN EXCHANGE AND SETTLEMENT

4.1 Where applicable, foreign exchange conversion rates shall be determined at the time of processing and may vary based on market conditions and banking partner pricing.

4.2 Additional charges may apply including:

• Banking fees;
• Currency conversion margins;
• Intermediary bank charges;
• Payment gateway fees;
• Taxes and regulatory charges.

4.3 Final settlement amounts may vary due to exchange rate fluctuations and third-party deductions.

5. REFUNDS AND REVERSALS

5.1 Refunds are subject to:

• Compliance approval;
• Receiving institution or beneficiary approval;
• Applicable banking policies;
• Regulatory requirements.

5.2 Refund processing timelines depend on banking partners, card issuers, intermediary institutions, and applicable jurisdictions.

5.3 Any applicable:

• Currency fluctuation losses;
• Banking charges;
• Gateway fees;
• Intermediary deductions

may be deducted from refund amounts.

6. FRAUD PREVENTION AND COMPLIANCE

PayFX Global reserves the right to:

• Reject suspicious transactions;
• Conduct enhanced due diligence;
• Request additional documentation;
• Hold or suspend transactions;
• Report suspicious activity to regulatory or law enforcement authorities.

Customers shall not use the services for:

• Fraudulent transactions;
• Money laundering;
• Sanctions violations;
• Illegal financial activities;
• Unauthorized third-party payments.

7. LIMITATION OF LIABILITY

PayFX Global and PayFX Fintech Solutions Private Limited shall not be liable for:

• Banking delays;
• Technical failures;
• Payment gateway downtime;
• Exchange rate fluctuations;
• Third-party processing failures;
• Regulatory restrictions;
• Incorrect information provided by customers.

All services are provided on an “AS IS” and “AS AVAILABLE” basis.

8. DATA PRIVACY

Customer information and payment details shall be collected and processed in accordance with:

• Applicable Indian IT laws;
• DPDP Act, 2023;
• RBI/FEMA guidelines;
• PayFX Global Privacy Policy.

9. CUSTOMER DECLARATION

By proceeding with any online or offline payment, you confirm that:

• The funds belong to you or are legally authorized;
• All submitted information is accurate and lawful;
• You agree to comply with these Terms & Conditions;
• You authorize PayFX Global to process the transaction and conduct compliance verification where required.

PayFX Global
A Brand of PayFX Fintech Solutions Private Limited

Support Email: care@payfxglobal.com
Privacy Email: privacy@payfxglobal.com