Terms of use

TERMS OF USE FOR RECEIVING INDIAN RUPEES
PAYFX GLOBAL
Last Updated: 18th May 2026

This Terms of Use Agreement (“Agreement”) is entered into between you (“Customer”, “Merchant”, “Business User”, “you”, or “your”) and PayFX Fintech Solutions Private Limited, operating under the brand name PayFX Global (“PayFX Global”, “Company”, “we”, “our”, or “us”).

This Agreement governs your use of PayFX Global services for receiving international payments and settlement of funds in Indian Rupees (“INR”) into India.

By accessing or using our services, websites, applications, APIs, payment platforms, or associated systems, you confirm that you have read, understood, and accepted this Agreement.

1. ABOUT PAYFX GLOBAL

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

The services are provided in compliance with applicable Indian laws, FEMA regulations, RBI guidelines, AML/KYC obligations, and partner institution requirements.

2. SERVICES COVERED UNDER THIS AGREEMENT

PayFX Global facilitates the receipt of international payments into India for legitimate business, educational, healthcare, service export, merchant, and approved commercial purposes.

Services may include:

• International inward remittances
• Export payment collections
• Overseas customer payments
• Merchant settlement solutions
• Payment gateway and collection services
• Institutional and educational collections
• Foreign currency conversion into INR
• API-based payment collection services
• Cross-border payment settlement solutions

All services are subject to applicable regulatory approvals and partner institution policies.

3. ELIGIBILITY

To use these services, you must:

• Be at least 18 years old;
• Be legally authorized to operate under applicable laws;
• Maintain a valid Indian bank account;
• Successfully complete all KYC and compliance requirements;
• Use the services only for lawful and permitted purposes.

Businesses must additionally provide:

• Business registration documents;
• GST information where applicable;
• Import/export documentation if required;
• Supporting invoices or transaction documents.

4. CUSTOMER ACCOUNT AND VERIFICATION

Customers may be required to create a PayFX Global account to access services.

You agree to:

• Provide complete and accurate information;
• Maintain updated records;
• Cooperate with KYC, AML, and due diligence checks;
• Submit supporting documents when requested.

PayFX Global reserves the right to suspend or terminate services if information provided is inaccurate, incomplete, misleading, or unverifiable.

5. RECEIVING INTERNATIONAL PAYMENTS

PayFX Global may provide local collection accounts, payment links, payment gateway facilities, virtual accounts, or other approved payment methods for receiving international payments.

You acknowledge that:

• Payments are processed through regulated banking and financial institution partners;
• Foreign currency payments may be converted into INR before settlement;
• Settlement timelines depend on banking systems, compliance reviews, and regulatory processes;
• Additional banking or intermediary charges may apply.

All received funds remain subject to verification, compliance review, and regulatory clearance.

6. SETTLEMENT OF FUNDS

After successful receipt and verification of funds:

• PayFX Global will process settlement into your designated Indian bank account;
• Settlements may be subject to deductions including fees, taxes, foreign exchange charges, intermediary charges, reversals, or regulatory deductions;
• Settlement timelines may vary depending on transaction type, jurisdiction, banking partner, and compliance review.

PayFX Global reserves the right to delay, hold, reject, or reverse settlements where required under applicable laws or risk policies.

7. FOREIGN EXCHANGE CONVERSION

Where foreign currency conversion is required:

• Exchange rates shall be determined at the time of processing;
• Rates may vary depending on market conditions and banking partner pricing;
• Applicable taxes, GST, banking charges, or intermediary fees may apply.

Displayed rates are indicative and subject to change without notice.

8. REVERSALS, REFUNDS, AND CHARGEBACKS

You acknowledge that payments received may be subject to:

• Reversals
• Chargebacks
• Regulatory restrictions
• Banking disputes
• Fraud investigations

If a payment is reversed or disputed:

• PayFX Global may recover the disputed amount from future settlements or balances;
• Additional processing or banking fees may apply;
• You remain liable for any outstanding negative balance.

9. CUSTOMER RESPONSIBILITIES

You agree:

• To use the services only for legitimate and lawful purposes;
• Not to engage in prohibited or fraudulent transactions;
• To comply with FEMA, RBI, taxation, and AML regulations;
• To maintain accurate transaction records and invoices;
• To provide information requested by regulatory authorities or PayFX Global.

You shall remain fully responsible for the nature, legality, quality, and fulfillment of goods or services related to the payment received.

10. PROHIBITED ACTIVITIES

You shall not use PayFX Global services for:

• Money laundering
• Terrorist financing
• Fraudulent activities
• Sanctions violations
• Illegal trade or prohibited goods/services
• Unauthorized financial activities
• Misrepresentation or identity fraud

PayFX Global reserves the right to report suspicious activity to regulatory or law enforcement authorities.

11. FEES AND TAXES

You agree to pay all applicable:

• Processing fees
• Currency conversion charges
• Banking charges
• Settlement fees
• API or gateway charges
• GST and applicable taxes

All fees may be deducted from settlement amounts where applicable.

12. SECURITY AND DATA PROTECTION

Customers are responsible for maintaining the security of their account credentials and systems.

By using the services, you consent to:

• Collection and processing of personal and transactional information;
• Sharing of information with banking and compliance partners;
• Regulatory reporting obligations;
• Cross-border data transfers where required.

PayFX Global uses commercially reasonable safeguards but does not guarantee uninterrupted or error-free service.

13. THIRD-PARTY SERVICES

PayFX Global may rely on third-party providers including:

• Banks
• Payment gateways
• Payment aggregators
• APIs
• Financial institutions
• Technology providers

We are not responsible for failures, delays, interruptions, or errors caused by third-party systems or service providers.

14. LIMITATION OF LIABILITY

To the maximum extent permitted by law, PayFX Global and PayFX Fintech Solutions Private Limited shall not be liable for:

• Indirect or consequential losses;
• Currency fluctuation losses;
• Banking delays;
• Technical interruptions;
• Loss of business or profits;
• Regulatory restrictions;
• Third-party service failures.

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

15. SUSPENSION AND TERMINATION

PayFX Global reserves the right to suspend, restrict, or terminate services:

• For violation of this Agreement;
• Due to suspicious or fraudulent activity;
• Upon regulatory instruction;
• For security, compliance, or operational reasons.

Termination does not affect existing obligations or liabilities.

16. GOVERNING LAW

This Agreement shall be governed by the laws of India.

All disputes arising under this Agreement shall be subject to the exclusive jurisdiction of the courts located in Bengaluru, Karnataka, India.

17. CONTACT INFORMATION

PayFX Global
A Brand of PayFX Fintech Solutions Private Limited

Email: care@payfxglobal.com

Website: www.payfxglobal.com