Terms and condition


  1. What are You agreeing to?

    1. Parties to these Terms

      These terms and conditions of service constitute a contractual relationship (“Terms”) between you (“You” or “Your” or “Customer”) and Nikunj Health Technologies Private Limited (“AyushPay” “We” “Us” “Our”), regarding Your use of this website www.ayushpay.com a mobile application under the name of ‘AyushPay’ available on the Google Play Store (collectively the “Portal”), and Your access to

      Your account (“Account”) information and services provided through the Portal. By using this Portal, You acknowledge that You have read, understood and accepted these Terms and have agreed to abide by the same without any limitation or qualification.

    2. Who are We?

      We are a platform who help connect Our Customers, such as You, with Our select financing partners (“Financing Partner”) for availing financing facilities for healthcare expenses. We also connect Our Customers with providers of health or medical services. The services provided by Us is set out in detail in Clause 2 of these Terms.

    3. Changes to these Terms

      AyushPay may change these Terms from time to time. If AyushPay makes any changes to the Terms that it deems to be material (in its discretion), AyushPay will make a reasonable effort to inform You of such changes, but it is Your responsibility to review the Terms posted to the Portal from time to time to see if they have been changed. The updated version of the Terms shall supersede any previous version of the Terms and such updated version shall be immediately effective upon being posted on the Portal. The continued use of the Portal following the notification of modification of the Term will be construed to mean Your acceptance of the said modified/updated Terms.

    4. Representations, Warranties and Undertakings

      1. You represent that You are above 18 (eighteen) years of age, of sound mind and resident Indian citizen and are competent to execute these Terms and are entering into these terms without any pressure or coercion; (b) You are a tax resident of India;

        (c) These Terms are a legal, valid and binding obligation on You, enforceable against You; (d) If You choose to access the Portal from locations other than India, You shall do so at Your own risk and You would be solely liable and responsible for compliance with applicable local laws and regulations of such location/territory. We accept no liability whatsoever, direct, or indirect or consequential, for noncompliance with the laws of any country other than the Republic of India. The mere fact that the Portal can be accessed through the internet by You in a country other than India will not be interpreted to imply that the laws of the said country govern the terms of these Terms and/or use of the Portal; (e) You hereby represent that you are not a Politically Exposed Person resident outside India as provided in the Reserve

        Bank of India’s (“RBI”) Master Direction – Know Your Customer (“KYC”) Direction, 2016 and/or in contravention of other Anti-Money Laundering (“AML”) standards/Combating Financing of Terrorism (“CFT”) as may be prescribed under applicable laws, or in contravention of the obligation of banks and financial institutions under Prevention of Money Laundering Act, 2002 (“Politically Exposed Person”) from time to time and You are otherwise in compliance with the provisions of the Prevention of Money Laundering Act, 2002 and the RBI Master Direction –KYC Direction, 2016 in all respects; (f) The information and data contained in this Portal does not constitute an offer to buy or sell or solicitation of an offer to buy or sell any services in any jurisdiction other than India; (g) You confirm that You are authorized and not restricted by any legal/regulatory/judicial/quasi-judicial/other authority, to access the Portal and avail of the facilities offered thereon, including to execute transactions. You agree to use the Services only for purposes that are permitted by: (i) these Terms; and (ii) any applicable law; (h) The information provided by You is correct, true and accurate; (i) You acknowledge and agree that AyushPay is entitled to remove any / all the information on the Portal that is in contravention of (i) the provisions of these Terms; or (ii) applicable law; and

        (j) You understand that AyushPay does not provide any warranties for its Services and shall not be made liable for any claims made by You or any third party. In this regard, You undertake to accept and be solely liable for the Services availed by You from AyushPay. You further undertake to indemnify and hold harmless AyushPay, its affiliates and their respective directors, officers, employees, agents and representatives against all damages suffered or losses incurred by AyushPay arising due to any act, omission or claim initiated by You or any third party in relation to the Services availed by You or in case of breach of these Terms or any warranty by You.

    5. Enquiry/ Information from Third Parties:

      AyushPay may, upon receiving Your consent, request certain third parties to provide information about you to further personalize Your experience on Portal, and provide certain services that cannot be accessed by all users of the Portal.

      Financing Partners may collect Your credit related information (e.g., credit score) from third parties (e.g., Credit Information Companies / Information Utilities / Account Aggregators) under a contract, and you provide Your consent for them to do so.

      The Financing Partner/AyushPay may receive Your additional information, such as information to help detect fraud and safety issues, from third party service providers and / or partners.

      You acknowledge and consent to the fact some of Your data may be shared by third parties (such as Your employer, your organization etc. if applicable) and such data shall be stored, retained and otherwise used or utilized by AyushPay in accordance with the AyushPay Privacy Policy.

    6. Marketing and Advertising

      You hereby express Your intent to know through telephonic calls, WhatsApp messages or SMS on Your mobile number as may be otherwise provided to AyushPay through third parties, or any other alternate number of yours as well as in this undertaking, or through any other communication mode, various AyushPay offers or loan offer schemes or loan promotional schemes made available by the Financing Partners or any other promotional schemes and hereby authorize

      AyushPay and its employee, agent, associates, affiliate’s to do so. You confirm that laws in relation to the unsolicited communication referred in “National Do Not Call Registry” as laid down by Telecom Regulatory Authority of India will not be applicable for such communication/calls/ SMS/messages through WhatsApp messages received from AyushPay, its employees, agents and/or associates.

  2. How AyushPay will serve You?

    1. The Service

      It is clarified that these Terms will only be applicable to You to the extent You are using a particular Service. So, if You are using Services in relation to the Card only, the specific clauses relating to the Credit Facility only will not be applicable to You. Similarly, if You are using Services in relation to the Credit Facility only, the specific clauses relating to the Card only will not be applicable to You. If You are using the Card and the Credit Facility both, all the clauses will be applicable to You. Subject to the assessment conducted by the Financing Partner of AyushPay on You, AyushPay will assist in facilitating execution of the loan documents with the Financing Partner so that You may purchase the products/services utilizing such funds. AyushPay will provide to You the following facilities (“Services”) (as applicable): (a) to facilitate Your access to healthcare and medical services; (b) to facilitate your access to the Card;

      (c) to facilitate your use of the Portal; (d) to facilitate loans from the Financing Partner and enable the execution of loan documentation with such Financing Partner in this regard; (e) to provide You details of loan availed and interest and principal repayments for such loan, on the Portal; (f) to provide You various benefits for availing merchant discounts on various products/services; (g) to provide you with information related to healthcare service providers; (h) to facilitate the payment for healthcare services; and (i) any other Services as may be contained in these Terms or otherwise provided to the Customer to facilitate their access to and use of healthcare and medical services.

      AyushPay is the technology and operating partner to its Financing Partners and to the Bank, as well as healthcare service providers. As a service provider, AyushPay is operating the Portal through which Customer can avail loans from the Financing Partner and/or access the Card, as well as the services provided by the healthcare

      service providers (e.g. hospitals, clinics etc.). At no point, AyushPay is representing itself as a lending company or a medical service company. Please refer to loan documentation for details on Your contract with the Financing Partner, and/or the terms and conditions of the healthcare service provider and/or the terms and conditions stipulated on Your use of the Card You choose through the Portal.

      AyushPay reserves the right to add new functionalities, remove existing functionalities or modify existing functionalities to its Services as and when it deems fit and at its sole discretion.

    2. List of Authorised Financing Partners

      AyushPay has tied up with multiple Financing Partners to ensure You get the best financing options which may be modified from time to time. AyushPay will not be obligated to inform You about any revision of its list of Financing Partners. In case You want to receive details of all the Financing Partners currently engaged with us, You can reach out to Us at info@AyushPay.com, this list is also available on our website www.AyushPay.com

    3. Cancelling Transactions

      Loan approval process is as per the sole discretion of the Financing Partner. Loan transactions once initiated on the Portal/ through the Card cannot be cancelled by You other than as specifically allowed on the Portal/as per Your loan documents.

    4. Collecting Information About You

      The Privacy Policy shall be treated as part of these Terms. You undertake that You shall carefully read through the Privacy Policy and shall strictly comply with the terms of the Privacy Policy.

      By using the Portal or Services, You authorize AyushPay, directly or through third parties, to make any inquiries We consider necessary to validate Your identity and to collect information about You in accordance with Our Privacy Policy. This may include asking You for further information that will allow Us to reasonably identify You, requiring You to take steps to confirm ownership of Your email address or financial instruments, or verifying Your information against third party databases or through other sources. We may also ask You for identifying documents to help Us validate Your identity, such as KYC documents, however We do not store or retain any Sensitive Personal Data (as defined in the Privacy Policy ) or any KYC information or documents. AyushPay reserves the right to close, suspend, or limit access to Your Account and/or the Services in the event We are unable to obtain or verify this information. By availing Services, You also agree to provide Your consent and full cooperation in enabling AyushPay to validate Your identity and to collect information about You in accordance with Our Privacy Policy .

      You agree to provide unconditional and absolute consent to AyushPay to use and share the information provided by You in relation to the Services. You also agree and consent to AyushPay and its Financing Partner to assess the information, based on Your usage of the Portal and AyushPay shall take all reasonable steps to ensure that the information received from You is secure, and is accessible only to the

      relevant persons. You further agree and consent to the fact that all information shared by AyushPay with its Financing Partner can be used by the Financing Partner to carry out credit bureau checks or other creditworthiness checks as may be considered necessary for the purpose of the Services. The Privacy Policy will be deemed to form part of these Terms.

    5. Indemnity

      AyushPay shall not be liable in case You breach any terms or conditions provided under the Privacy Policy or these Terms and will not be obligated to indemnify You for any direct or indirect losses accruing to You. You agree to indemnify, defend and hold harmless AyushPay, its affiliates, group companies and their directors, officers, employees, agents, third party service providers, and any other third party providing any service to AyushPay in relation to the Services whether directly or indirectly, from and against any and all losses, liabilities, claims, damages, costs and expenses (including legal fees and disbursements in connection therewith and interest chargeable thereon) asserted against or incurred by AyushPay that arise out of, result from, or may be payable by virtue of, any breach or non-performance of any terms of the Terms including any representation, warranty, covenant or agreement made or obligation to be performed by You pursuant to the Terms.

    6. Limitation of Liability and Injunctive Relief

      You understand and expressly agree that to the extent permitted under applicable laws, in no event will AyushPay or any of its affiliates or group companies or any of their respective officers, employees, directors, shareholders, agents, or licensors be liable to you or anyone else under any theory of liability (whether in contract, tort, statutory, or otherwise) for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to, damages for loss of revenues, profits, goodwill, use, data or other intangible losses (even if such parties were advised of, knew of or should have known of the possibility of such damages), resulting from: Your use (or the use of anyone using an account registered to You) of the Portal or any parts thereof; (ii) unauthorized access to or alteration of Your transmissions or data; (iii) any other matter relating to the Services; including, without limitation, damages for loss of use, data or profits, arising out of or in any way connected with availing of the Services.

      The Services provided AyushPay are ‘as is’, and AyushPay does not provide any warranties in relation to the Services. AyushPay has endeavored to ensure that all the information provided by it on the Portal is correct, but AyushPay neither warrants nor makes any representations regarding the quality, accuracy or completeness of any data or information displayed on the Portal. AyushPay makes no warranty, express or implied, concerning the Portal and/or its contents and disclaims all warranties of fitness for a particular purpose and warranties of merchantability in respect of information displayed and communicated through or on the Portal, including any liability, responsibility or any other claim, whatsoever, in respect of any loss, whether direct or consequential, to You or any other person, arising out of or from the use of any such information as is displayed or communicated through or on the Portal. AyushPay does not guarantee that the Services shall meet Your requirements, or shall be free of error, and interruptions. AyushPay does not

      guarantee that the Services shall be accessible at all times. Notwithstanding anything to the contrary herein, You hereby irrevocably waives any right or remedy to seek and/or obtain injunctive or other equitable relief or any order with respect to, and/or to enjoin or restrain or otherwise impair in any manner, the production, distribution, exhibition or other exploitation of AyushPay or any of its affiliate or group company related project, or the use, publication or dissemination of any advertising in connection with such project.

      Your sole and exclusive remedy for any dispute with AyushPay shall be to discontinue the use of the Portal and the Services. In any event, the liability of AyushPay for any and all claims relating to the Services/Portal shall not exceed the subscription fee (or any other such fee in the nature of a subscription fee) paid, as applicable for accessing the Services.

    7. Credit Investigation and Reporting

      You hereby give Your explicit consent and authorize AyushPay’s Financing Partners, to obtain Your Credit Information Report and Credit Score from: (i) CRIF High Mark Credit Information Services Pvt Ltd. (“CRIF High Mark”), (ii) TransUnion CIBIL Limited (“TransUnion”), (iii) Experian Credit Information Company of India Private Limited (iv) Equifax Credit Information Services Private Limited, and (v) from such other credit information company, as allowed under applicable law, from time to time for the purpose of (i) determining Your credit score, (ii) opening account with

      AyushPay’s Financing Partners; (iii) undertaking analysis for revising Your eligibility limit by the Financing Partner, as set out in the Portal (which will involve sharing

      Your Credit Information with the AyushPay’s Financing Partners); (iv) or otherwise as may be required for providing You with the Loan. You hereby unconditionally consent to and instruct credit information companies to provide Your credit information to AyushPay’s Financing Partners at such frequency as may be required by them limited from time to time. This consent shall be valid for a period of 3 (three) years. You also acknowledge that you shall not raise any claim or hold liable the credit information companies in relation to my Credit Information Report and Credit Score provided or to be provided. You understand that you shall have the option to opt out/unsubscribe from the Service which is governed by the terms of these Terms.

    8. Collection

      You agree and authorize AyushPay and its Financing Partners, to send You payment reminders from time-to- time.

    9. Communication & Notification

      You agree that AyushPay (either directly or through its affiliates, subsidiaries or other permitted assigns) may provide You communications about Your Account and the Service electronically or through phone calls, WhatsApp messages, or in writing.

      Standard mobile, message, or data rates may apply, and You are responsible for any such fees. AyushPay reserves the right to close Your Account and immediately collect all due amounts if You withdraw Your consent to receive electronic or other communications or if You revoke access to any third party site on which the Service relies (e.g., Facebook, Twitter, etc.) or if any such service should revoke or cancel

      Your account on that site. Any electronic communications will be considered to be received by You within 24 (twenty-four) hours of the time We email it to You or otherwise send it to Your attention (such as via SMS or other online notification, through WhatsApp messenger application). We may assume You have received any communications sent to You by postal mail 3 (three) business days after We send it

      If We need to contact You to service Your Account, You give direct consent to Us and Our permitted assigns to communicate with You in any way, such as calling, texting, or e-mail via any method of communicated provided by You to us, or at any means which We believe We can reach You (even if it is not yours) including (a) any email address You provide to Us or one of Our merchants or Financing Partners; (b) automated dialer systems and automatic telephone dialing systems; (c) pre-recorded or artificial voice messages and other forms of communications. You also agree that these communications are not unsolicited for purposes of any applicable law, and You understand that this may result in additional mobile, text message, or data charges.

    10. Working with Third Parties

      If You grant express permission to a third party to access particular information about Your Account (for the purpose of facilitating purchase of goods/ services), You acknowledge that AyushPay may disclose the information about Your Account to such third party. You further agree that AyushPay may disclose any information about Your Account to any third party subject to such third party having been authorized by You, in any verifiable manner, for receiving such information. You also acknowledge that granting permission to a third party to access Your Account does not relieve You of any of Your responsibilities under these Terms. Further, You acknowledge and agree that You will not hold AyushPay responsible for, and will indemnify AyushPay its affiliates, group companies and their directors, officers, employees, agents from, any liability arising from the actions or inactions of this third party in connection with the permissions You grant.

  3. Your use of AyushPay?

    1. KYC Procedure

      In compliance with the Master Direction -KYC Direction, 2016 (“Directions”) issued by the RBI, undergoing KYC verification is mandatory in order to become a registered & approved user on the Portal.

      At the time of registration, it is critical to ensure that You are the person who You claim to be. This is to prevent fraudsters from using the name, address and forged signature of others for doing fraudulent transactions, etc. For this purpose, You have to submit documents/details according to his/her profile. The KYC documents submitted by You are further shared by AyushPay to its Financing Partner who undertake their own KYC verification prior to providing any loan to You. It is hereby clarified that, the ultimate responsibility for (a) customer identification procedure/ undertaking enhanced due diligence measures/ KYC verification; and (b) final decision-making function of determining whether a customer is in compliance with KYC regulation, shall remain with the Financing Partners. Below is the list of

      acceptable documents collected from You by AyushPay on behalf of its Financing Partners: Proofs which are mandatorily required from all users: (a) Proof of Identity:

      • Proof of possession of Aadhaar ○ PAN Card/ Form 60; PAN Card in case of salaried / self-employed is mandatorily requiredr

        1. Proof of Address:

      • For permanent address: Driving License/ Voter Id / Passport / Aadhar Card ○ For Current Address: Electricity bill/ Gas bill / Rent terms / Water bill / Telephone bill/ Post-paid mobile bill/PG rent receipt

        1. Other identification Proofs: Includes College ID/ Employee ID. In case Employee ID is not available then employee’s official email ID verification process is available.

        You are also required to click a selfie and the same will be uploaded in Your application. Lastly, You are required to digitally sign the uploaded documents, using valid electronic modes of signature, after which the initial KYC document submission procedure is completed. Post the submission, AyushPay will share the above documents with the Financing Partners who shall make an initial verification of the documents. Notwithstanding anything contained, the Financing Partners may undertake the said verification in such other manner as they deem fit provided it is in accordance with the RBI regulations issued from time to time. For the purpose of enabling a smooth onboarding process for You, You further authorize AyushPay to share the documents provided by You for undertaking KYC with the Financing Partners from whom loan is availed. The KYC documents will be used for KYC purposed by the Financing Partner in compliance with the guidelines issued by the RBI and for no other purpose. You further agree and acknowledge that AyushPay does not store, hold or otherwise retain any documents shared by You as part of the KYC process. You also explicitly agree and acknowledge that the documents shared by You as part of the KYC process can be used by the Financing Partners for conducting credit bureau checks or other checks for creditworthiness.

    2. Terms to Provide Accurate Information

      When You provide information to AyushPay, You agree to provide only true, accurate, current and complete information about yourself and You agree not to misrepresent Your identity or Your Account information. You further agree to keep Your Account information up to date and accurate.

      You understand and acknowledge that the responsibility of providing correct information, details, including the contact information, the bank account details, details of the invoices for drawdowns etc. lies solely with You. We shall not be responsible for the accuracy of the information/ details provided by You and We shall not be liable to verify the accuracy or completeness of this information. You will be liable to inform AyushPay of any change in the details or information provided initially. If any incorrect bank account number is provided by You, any amount may be deposited /credited to the wrong bank account so provided by You and there is no guarantee of recovery of the same and any AyushPay disclaims all liability that may arise from the same — whether under contract or under applicable laws. You will

      take all care and caution to ensure that there are no mistakes and errors and that the information given to AyushPay is error free, accurate, proper and complete at all points of time. You confirm that AyushPay will not be held liable for any loss or damage that may be sustained by You on account of such error on Your part. You confirm that, if You receive any wrong credit of funds in Your bank account from any of the merchants/Financing Partner, which does not belong to You, the same will immediately be reported by You to Us and in no case within 24 hours of receipt or credit of such funds. You will also immediately return the said funds back to the merchant/Financing Partner through the Portal or as may be directed by AyushPay from time to time and within such timelines as prescribed by AyushPay

    3. Delays in Processing

      In some cases when You attempt to use the Services to make a purchase, the transaction may be held as pending or be otherwise delayed for processing and confirmation by either Financing Partner or the merchant and can be cancelled at any time until it is confirmed by AyushPay.

    4. User Responsible for Fees

      If You use the Services, You may be levied non-refundable service charges or fee, details of which will be communicated to you in the loan documentation issued by the Financing Partner and MITP made available on the Portal.

      You are also responsible for any fees or other amounts that Your phone service provider charges, such as fees for SMS, data services, and any other fees that Your phone service provider may charge. AyushPay reserves the right to levy additional charges based on the method of payment chosen by You. Such charges will be intimated to you prior to You making the transaction. The Portal and AyushPay will not be responsible for any failure in the link or for any fraud (either at the payment gateway’s end and/or the bank’s end) or failure of telecommunication network, that could take place at the time of making payment. You confirm that the transactions executed by You are not for the purpose of contravention and/or evasion of any act, rules, regulations, notifications or directions issued by a regulatory authority in India.

    5. Access to Your Account

      You are responsible for maintaining the secrecy and security of the login credentials to Your Account, controlling the activities that occur in or through Your Account and for restricting access to Your system to prevent unauthorized access to Your Account. You agree to accept responsibility for all activities that occur in Your Account. You agree to establish reasonable security procedures and controls to limit access to Your password or other identifying information to authorized individuals, which includes choosing passwords and other credentials in a manner that will protect the security of Your information. Your credentials include Your username and password to Your Account and to any third-party account You have used to login to Your Account. You agree to inform Us immediately if You have any reason to believe that Your login credential has become known to anyone else, or if the password is being or is likely to be used in any unauthorized manner. AyushPay expressly disclaims all liability arising out of any breach of Your Account information, whether

      such liability is direct or indirect. You are also responsible for maintaining the accuracy of the information in Your Account and failure to do so may lead to suspension of Your Account.

    6. Portal Content

      The information on the Portal is for information purposes only. It is believed to be reliable, but AyushPay does not make any promises as to its completeness, timeliness or accuracy. The information and materials contained in the Portal, and in these Terms, are subject to change notice of which shall be at the sole discretion of AyushPay.

      AyushPay shall provide You with basic support for the Services and shall use commercially reasonable efforts to make the Services available to You, except for (i) planned downtime or (ii) any unavailability caused by circumstances beyond

      AyushPay’s reasonable control. Access to the Services may from time to time be unavailable, delayed, limited or slowed due to, among other things: (a) servers, networks, hardware failure (including Your own computer), telecommunication lines and connections, and other electronic and mechanical equipment; (b) software failure, including among other things, bugs, errors, viruses, configuration problems, incompatibility of systems, utilities or applications, the operation of firewalls or screening programs, unreadable codes, or irregularities within particular documents or other content; (c) overload of system capacities; (d) damage caused by severe weather, earthquakes, wars, insurrection, riots, civil commotion, act of God, accident, fire, water damage, explosion, mechanical breakdown or natural disasters; (e) interruption (whether partial or total) of power supplies or other utility of service; strike or other stoppage (whether partial or total) of labour; (f) governmental or regulatory restrictions, exchange rulings, court or tribunal orders or other human intervention; (g) any other cause (whether similar or dissimilar to any of the foregoing) whatsoever beyond the control of AyushPay; or (h) any Force Majeure Event (as defined hereinbelow).

      AyushPay assumes no liability whatsoever for any monetary or other damage suffered by You on account of the delay, failure, interruption or errors in the operation of the Portal.

    7. Links to Other Websites

      The Portal may contain links to other websites or may contain features of other websites (“Allied Sites”). The Allied Sites are not under the control of nor endorsed by AyushPay and AyushPay is not responsible for the contents of any Allied Site, including without limitation any link or advertisement contained in the Allied Site, or any changes or updates to the Allied Site. You will be governed by the terms of use of the Allied Site when you visit one, and not by these Terms. AyushPay makes no warranties concerning the content of such websites, including the accuracy, completeness, reliability of said websites, nor does AyushPay warrant that such website or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such site or content is devoid of viruses or other contamination. If You choose to follow a link to a website not controlled by AyushPay, You must do so at Your own risk. AyushPay does not

      guarantee the authenticity of documents on the Internet. Links to non-AyushPay websites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such websites.

      Your use of the Portal will be at Your sole risk. The Portal has been provided on an “as is” and “as available” basis.

    8. Confidentiality

      AyushPay and You hereby agree to keep the data, information and terms of the Portal and/ or any other confidential information of each other (whether or not such information is marked as confidential) ("Confidential Information") confidential and shall not disclose the same without the consent of the other.

      The Parties shall not be liable for breach of the above clause when the Confidential Information is disclosed pursuant to an order of any court or government authority and/or in performance of this contract by AyushPay and/or when the parties independently obtain it from a third party or if such Confidential Information is already in the public domain.

    9. Blocking of Card or access to Services:

      Your Card may be blocked and/or Your access to Services may be temporarily or permanently suspended, In case any suspicious fraudulent activity is detected with respect to Your Card or Your use of the Services, Your Card may be blocked temporarily to protect You from any fraud and/or Your access to the Services may be temporarily or permanently suspended. After the matter is resolved Your Card will be unblocked and/or Your access to the Services will resume.

  4. AyushPay Card

    1. Terms and Conditions of Yes Bank Limited – AyushPay Prepaid Card

      This Card is issued to you by AyushPay and sponsored by Yes Bank Limited having registered office at YES Bank House, Off Western Express Highway, Santacruz (East), Mumbai – 400055.

    2. Most Important Terms & Conditions for Card

      The usage of the co-branded Card issued to You or the “Cardholder” shall be governed by the terms and conditions contained herein, or in any attachments or accompanying supplement(s) and shall also those terms and conditions stated on the website of the Bank www.yesbank.in (together "T&Cs”). The Card is made available to You by a corporate customer (“Corporate”) of AyushPay pursuant to a contract between the Corporate and AyushPay. You hereby agree to abide by the T&Cs and You and shall be deemed to have unconditionally agreed to and accepted the T&Cs by performing first transaction with the Card or acknowledging receipt of the Card in writing or by signing on the reverse of the Card. You shall comply with all the relevant notifications or guidelines, or other statutory circulars

      issued by the RBI any other competent authority governing the issue and use of the Card.

      The Bank and/or AyushPay disclaim all liability on account of any breach by You of the T&Cs or the relevant notifications or guidelines governing usage of the Cards in force and from time to time. If the Terms are not acceptable, You must not use the Card and immediately return the Card to the Bank and/or AyushPay.

      The Card is not transferable. The Cardholder cannot add his/her personal funds on the Card and funding of the Card may be done only by the Corporate. The Bank and/or AyushPay shall not be required to reload the Card or otherwise add to the Card balance, at Your request. Further, Bank and/or AyushPay may add or subtract amounts from the Card in accordance with the instructions of the Corporate and Bank and/or AyushPay shall not be liable to You for any such additions or subtractions. The Card shall be subject to the Terms mentioned herein and any additional conditions stipulated by Bank and/or AyushPay from time to time. You shall sign on the reverse of the Card immediately upon receipt of the same, and ensure that the signature on all transaction slips signed by You are similar to the signature provided by You on the Card. In case You desire to alter his/her signature, You shall intimate the Bank and/or AyushPay about the same and execute necessary documents as prescribed by Bank and/or AyushPay and/or under applicable law, in this regard. The Card cannot be used at any ATM for cash withdrawals or for any other activity at an ATM. The Card will also be governed by the terms and conditions of the Bank, which are available at: www.yesbank.in

    3. Refund on Cards

      In case of failed/returned/rejected/cancelled transactions, refund received on Cards shall be applied immediately to the value already stored in the Card. The refund transactions shall comply with the Master Direction on Issuance and Operation of Prepaid Payment Instruments guidelines issued by the RBI.

      In case refund for any transaction is received after the loan amount is determined, You can reach out to Our AyushPay’s customer relationship team on contact@AyushPay.com for loading the Card with the refund amount.

    4. Use of the Card

      You may use the Card subject to the following terms:

      (a) The Card is valid only in India and for the purchase of goods and/or services in Indian currency only; (b) The Card is redeemable only against only such products and services as may be notified to You; (c) The Card is not redeemable for cash; (d) In the event any KYC or any other details furnished are found to be incorrect AyushPay and/or the Bank retain the right to cancel the Card; (e) Any unredeemed value or unutilized balance on this card after the date of expiry of the Card will stand forfeited; (f) In case the value of the redeemed goods is greater than the balance of the Card the difference must be paid by You through Your debit or credit cards or net banking; (g) You shall take reasonable precaution to prevent misuse of the PIN of the Card and You agree that You shall be solely responsible for any consequences

      arising directly or indirectly out of the disclosure of the PIN and/or unauthorized use of Card as a result of any misuse for want of reasonable care and precaution; (h) You accept full responsibility for wrongful use of the Card or any use of the Card in contravention of the T&Cs and undertake and agree to indemnify the Bank and/or AyushPay to make good any loss, damage, interest, conversion, any other financial charge that Bank and/or AyushPay may incur and/or suffer, whether directly or indirectly, as a result of You violating the provisions thereof; (i) the Bank and/or AyushPay, reserve the right, at any time, to refuse the use of the Card; (j) The Card is not transferable; (k) All transactions attempted using the Card and all product and/or services availed using this Card are subject to applicable laws;

      (l) AyushPay and/or the Bank shall not be liable for any defects in any products, goods or services availed using this Card. Any dispute or claim regarding availed products, goods and services through this Card must be resolved with respective merchants who supplied such products, goods or services; (m) Any charge levied by third party merchants on the purchases made by You using the Card, shall be paid by You to such third party merchants directly and the Bank and/or AyushPay shall not be responsible for the same; (n) Any dispute pertaining to such charges levied shall be settled between You and the concerned merchant and the Bank and/or AyushPay shall not be liable in any manner, whatsoever, for the same; and

      (o) You shall act in good faith at all times in relation to all dealings with the Card and Bank and/or AyushPay.

    5. Termination and Expiry

      (a) Termination

      The Bank and/or AyushPay may, if it is satisfied that it is necessary to do so, at any time and on such conditions as it thinks fit, suspend or deny or terminate the Card under the following circumstances: (i) In the event You are being declared insolvent or in the event the Bank and/or AyushPay receives any notice and/or intimation of Your death; and/or (ii) In the event of You are committing breach of any of the terms, conditions, stipulations or Your obligations under the T&Cs (as applicable); and/or

      1. In the event any restriction is imposed on You by an order issued by any regulatory authority or a court in India or by any investigating agency.

        (b) Expiry

        The Bank will intimate You through an SMS on Your registered mobile number, 45 (forty-five) days prior to expiry of validity period of the Card. You needs to utilize the balance amount prior to expiry of the Card. In case You does not utilize the balance amount within the validity period, You can approach the Bank for refund/transfer of outstanding balance. In case You do not approach the Bank within a specified period as prescribed by regulator, the outstanding balance will be transferred to a fund in compliance with extant regulatory guidelines.

    6. Charges

      You may also incur fees charged by Bank and/or AyushPay in respect of issuance

      and/or usage of the Card as per the schedule of charges below: Description of Charges Amount

      Re-issuance of Lost or Damaged Card INR 300

      Additional Add / Supplementary on Cards (First Add On Card Free) INR 300

    7. Lost, stolen or misuse of the Card [

      You shall be responsible for safe custody of the Card. In case of loss or theft of the Card or misuse of the Card, You shall immediately inform any of the branches/customer care centers of the Bank. You shall be responsible and liable for all unauthorized transactions till the time You report the unauthorized transaction to the Bank. A new Card shall be issued to the Customer, in lieu of the lost/stolen Card, upon a request in writing and payment of applicable fee as per the schedule of charges.

  5. How You May NOT use Card or the Services?

    By using the Portal or Services, You agree to the following: (a) You will not use the Card or the Services for any non-healthcare related expense; (b) You will not engage in any activities related to the Services that are contrary to any applicable law or regulation or any Terms You may have with AyushPay; (c) You will not solicit others to perform or participate in any unlawful acts; (d) You will not provide false, inaccurate, deceptive or misleading information; (e) You will not provide information belonging to any person other than yourself; (f) You will not use or attempt to access an Account that belongs to another person for yourself or on behalf of another person; (g) You will not do anything on the Portal that would prevent other users' access to or use of the Portal or any part thereof; (h) You will not attempt to collect or track or store the personal information of others; (i) You agree not to create multiple Accounts, or fraud or fake Accounts, with false information or false identity or use the Portal for any unlawful or immoral purpose; (j) You agree not to collect contact information of Our Financing Partners from the Portal by means of unsolicited access so as to communicate directly with the Financing Partners; (k) You will not use any device, software, routine, file or other tool or technology, including but not limited to any viruses, trojan horses, worms, time bombs or cancelbots, intended to damage or interfere with the Services, to surreptitiously intercept or expropriate any system, data or personal information from the Services, or to affect the functionality or operation of the Portal or any related website, other websites, or the Internet; (l) You will not breach these Terms or any other Terms or policy that You have agreed to with AyushPay; (m) You will not use the Services to accomplish a cash advance;

    (n) You will not exceed Your authorized access to any portion of the Services; (o) You will not commit unauthorized use of the Portal and systems including but not limited to unauthorized entry into AyushPay's systems, misuse of passwords, misuse of any information posted to a site, or interfere with or circumvent the security features of the Portal or any related website, other websites, or the Internet; (p) You will not take any action that imposes an unreasonable or disproportionately large load on Our infrastructure, including but not limited to denial of service attacks, "spam" or any other such unsolicited overload technique; (q) You will abide by all

    copyright notices, information, restrictions contained in or associated with any of the Portal content; (r) You will not remove, alter, interfere with or circumvent any copyright, trademark, watermark, or other proprietary notices marked/displayed on the Portal; (s) You agree to make use of the Portal for lawful purposes without infringing the rights or restricting the use of the Portal by any third party; (t) You shall not attempt or cause any unauthorized access to the Portal or any networks, servers or computer systems connected to Portal or attempt to modify, adapt, translate or reverse engineer any part of the Portal or re-format or frame any portion of the pages of the Portal; (u) You shall not upload, display, share, host, publish and/or transmit any information on the Portal that:

    (i) belongs to another person and to which You do not have any right to such information; (ii) contains falsehoods or misrepresentations that could damage the Services, or AyushPay, or any third party; (iii) is harmful, offensive, harassing, defamatory, obscene, pornographic, libelous, invasive of another's privacy, hateful, racially or ethnically objectionable, disparaging, relating to or encouraging money laundering or gambling, or otherwise unlawful in any manner whatsoever;

    1. may endanger life or lead to physical harm or has been expressly prohibited by applicable law (including streaming while driving, sleeping etc.), involve physical trauma, use or abuse of drugs and alcohol, any political or extremist propagandas, sexual harassment or sexual objectification;

    2. infringes any patent, trademark, copyright or other proprietary rights; (vi) harms minors in any way or impersonates another person; (vii) any commercial material or content (including, but not limited to, solicitation of funds, advertising, or marketing of any good or services); (viii) information that deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature; (ix) impersonate another person. (x) information that contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource; (xi) threatens the unity, integrity, defense, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nation. (xii) You shall be solely liable for any damages resulting from any violation of the foregoing restrictions, or any other harm resulting from Your posting of content to this Website.

  6. AyushPay’s Disclaimers and Liabilities

    (a) Notwithstanding anything to the contrary contained herein, AyushPay, its affiliates and their respective directors, officers, employees, agents and representatives shall have no liability to You or to any third party for any indirect, incidental, special or consequential damages or any loss of revenue or profits arising under or relating to these Terms; (b) AyushPay in no manner warrants or guarantees the performance of the Financing Partner and You acknowledge that AyushPay shall in no manner be responsible for any claim of money or damages in the event the Financing Partner fails to grant any financing or the Loan; (c) AyushPay does not make any representations or warranties on behalf of any of the Financing Partners; (d) AyushPay expressly disclaims all liability arising out of any loan documentation

    executed between You and the Financing Partner; (e) AyushPay expressly disclaim all warranties of any kind as to the Portal and all information, and other content (including that of third parties) included in or accessible from the Portal, whether express or implied; (f) AyushPay does not guarantee that any identified defects will be corrected, that the Portal is free from viruses or other malicious, destructive or corrupting code, non- infringement of third party rights, title, merchantability, data accuracy and completeness, satisfactory quality and/or fitness for a particular purpose; (g) You further agree that AyushPay, its affiliates and their respective directors, officers, employees, agents and representatives shall in no way be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including, but not limited to, damages for loss of profits, goodwill, use, data or other intangible losses, resulting from:

    (i) the use or the inability to use the Service/ Portal (ii) the cost of getting substitute Services; and/ or

    (iii) any data, information or Services purchased or obtained or messages received or transactions entered into, through or from the Portal

    1. AyushPay makes no warranty that:

      (i) the Portal will meet Your requirements; (ii) the Portal will be uninterrupted, timely, secure, or error-free; (iii) the results that may be obtained from the use of the Portal will be accurate or reliable; and/or (iv) the quality of Services purchased by You or information obtained by You through the Portal will meet Your expectations;

    2. although AyushPay adopts security measures it considers appropriate for the offer of its Services, it does not assure or guarantee that no person will overcome or subvert the security measures and gain unauthorized access to Your Account. AyushPay will not be responsible or liable if any unauthorized person hacks into or gains access to Your Account; (j) AyushPay will not be liable to You for any loss or damage whatsoever or howsoever caused or arising, directly or indirectly, including without limitation, as a result of loss of data; interruption or stoppage to Your access to and/or use of the AyushPay technology platform or Services, hacking or unauthorized access to the AyushPay technology platform, Services, non-availability of connectivity between the AyushPay site and the merchants, etc. Any material/information downloaded or otherwise obtained through the use of the AyushPay technology platform or Services is done at Your own discretion and risk and You will be solely responsible for any damage to Your computer system or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by You from AyushPay or through or from the use of Services or AyushPay technology platform shall create any warranty. AyushPay shall have no liability in this respect; (k) AyushPay's sole obligation and Yours sole and exclusive remedy in the event of interruption in Services, or loss of use and/or access to Services, shall be to use all reasonable endeavors to restore the Services; (l) AyushPay’s obligations under these Terms are subject to following limitations:

    (i) messages that originate from the server of the merchant/Financing Partner or the server of a third party designated by merchant/ Financing Partner (e.g., a host) shall

    be deemed to be authorized by the merchant/ Financing Partner, and AyushPay shall not be liable for processing such messages; (ii) messages that originate from You are deemed to be authorized by You and AyushPay shall not be required to check its veracity and AyushPay shall not be liable for processing such messages;

    (iii) AyushPay shall not be responsible for the security of data residing on the server of the merchant/ Financing Partner or a third party designated by the merchant/ Financing Partner (e.g., a host) or on the server of a Customer (i.e. You in the present instance) or a third party designated by a merchant/Customer / Financing Partner (e.g., a host); and (iv) AyushPay shall have no liability for any failure or delay in performing its obligations under this facility if such failure or delay: (i) is directly caused by the merchant/ Financing Partner 's acts or omissions; (ii) results from actions taken by AyushPay in a reasonable good faith to avoid violating a law, rule or regulation of any governmental authority or to prevent fraud on cardholders/accounts; or (iii) is caused by circumstances beyond AyushPay’s control, including but not limited to vandalism, hacking, theft, phone service disruptions, Internet disruptions, loss of data, extreme or severe weather conditions or any other causes in the nature of Force Majeure Event.

  7. Credit Facility

    7.1 The Customers can avail of the Credit Facility (through the Financing Partners) for their healthcare expenses. This service is available to the Customer provided AyushPay has partnered with the employer of the Customer or otherwise as per this Section. 7.2 Initially, the employer will provide data in relation to the Customer (on behalf of the Customer) as per the Terms and in accordance with the policies of the Financing Partner. The data collected will be handled as per the Terms and the policies of the Financing Partner. The Customer acknowledges and consent to the fact that their data may be shared by third parties (such as their employer, their organisation etc. if applicable) and such data shall be stored, retained and otherwise used or utilised by AyushPay in accordance with its Terms. 7.3 After the data is gathered, the Customer is onboarded as a user on the Portal after undergoing the KYC verification as per the Terms. The Customer agrees and acknowledges that AyushPay does not store, hold or otherwise retain the Aadhar data or documents shared by the Customer as part of the KYC process. The Customer also explicitly agrees and acknowledges that the documents shared by the Customer as part of the KYC process can be used by the Financing Partners for conducting credit bureau checks or other checks for creditworthiness. 7.4 Basis the data, the Customer will be approved and offered a pre-approved amount by the Financing Partners (“Eligibility Amount”). To use this Eligibility Amount, the Customers will have to set up repayment mandates in favor of Financing Partners (“Repayment Mandate”). 7.5 The Eligibility Amount is valid for 30 days post which it is re-calculated

    7.6 The Customer may draw down any portion from the Eligibility Amount, for which the Customer has to request for a draw down through the Portal. 7.7 When the Customer wants to draw-down a specific amount (each a “Loan”) from the Eligibility Amount, AyushPay through its Platform conveys this demand to the Financing Partner and the Financing Partner responds with a Key Fact Statement, Sanction Letter and a Loan agreement. 7.8 The customer has to agree to the Key Fact Statement, Sanction Letter and execute the Loan Agreement digitally before the Loan can get disbursed to them. 7.9 Each draw-down will be considered a separate

    Loan and accordingly a separate loan agreement shall be executed between the Customer and the Financing Partner. 7.10 AyushPay will not be a party to the loan agreements executed between the Customer and the Financing Partner and AyushPay specifically disclaims all liability, direct or indirect, incurring to either the Customer or the Financing Partner, as a result or any act or omission which results in a breach of any of the loan agreements or related documents (the “Financing Documents”). 7.11 The Financing Partner disburses the Loan into the Customers bank account directly (the same bank account which has been setup for the Repayment Mandate). 7.12 The Customer further agrees and acknowledges that:

    (i) The Loans have been lent strictly for health and medical-use case only as outlined to the Customer and they cannot be used for any other purpose. (ii) At the time of booking the Loan, the Customer will agree to pay the principal and the interest on the Loan to the Financing Partner. (iii) The Customer has the option to get AyushPay to pay the interest (Interest Reimbursement) on the Loan by providing proof towards medical end use. (iv) The Customer shall provide proof towards the end use of the Loan and/or any draw-down amounts by providing an invoice for an amount equal to or higher than the amount drawn-down. (v) On receipt of the invoice AyushPay will verify the invoice. If the invoice is approved, then AyushPay will credit the entire interest payable on the Loan amount in the Customer’s bank account. (vi) If the Customer fails to provide an invoice for the full Loan amount or if the invoice provided is lesser than the Loan amount, AyushPay will only reimburse the Customer the interest due on the Loan amount that equals the value of the invoice.

    (vii) If the customer doesn’t upload any invoice or if the invoice is not validated by AyushPay then AyushPay will not provide any interest reimbursement to the customer.

    7.13 Principal repayments and/or penalty payments will happen directly from the Customer’s bank account through the Repayment Mandate as per the terms agreed with the Financing Partner.

  8. Termination

    1. You may terminate these Terms at any time by contacting Us at contact@AyushPay.com, and provided that You discontinue any further use of Portal or Services. Upon Account closure, We will cancel any pending transactions unless otherwise legally prohibited. However, any such termination shall not cancel Your obligation to repay any Loan availed through a Financing Partner, or any other obligation which has accrued, or is unfulfilled and relates to the period, prior to termination. If You owe any payment to AyushPay or the Financing Partner, AyushPay will not close Your Account until that payment has been made, but We may limit Your ability to make additional transactions using Your Account. You may not close Your Account to evade an investigation. You will remain liable for all obligations related to Your Account even after the Account is closed. AyushPay will retain Your information in accordance with Our Privacy Policy.

    2. AyushPay may close Your Account if You do not log in to the Portal or use the Services for 1 or more years. AyushPay will retain Your information in accordance with these Terms and Our Privacy Policy.

    3. These Terms take effect from the date of their publication on Portal. We reserve the right to terminate the Services in the event of breach of any terms contained in these Terms, misrepresentation of information, any unlawful activity by You or if We are unable to verify or authenticate any information submitted by You.

    4. Notwithstanding anything contained in these Terms, if We reasonably believe that you are acting in breach of any of these Terms, in addition to Our right to immediately suspend or terminate Your Account from the Portal, without any notice.

  9. Miscellaneous

    1. Disputes with AyushPay

      If a dispute arises between You and AyushPay, Our goal is to provide You with a neutral and cost-effective means of resolving the dispute quickly. In the event of a dispute, We encourage You first to contact AyushPay at contact@AyushPay.com to try resolving Your problem directly with Us.

    2. Updating Your Contact Information

      You can update the mobile phone number or email address registered with AyushPay by submitting a request by emailing contact@ayushPay.com.

    3. Assignment

      These Terms, or any right or interest herein, shall not be assignable or transferable by You without the prior written consent of AyushPay. Rights and obligations of AyushPay under these Terms are freely assignable without Your prior written consent.

    4. Force Majeure

      AyushPay shall not be liable for any failure to perform any of its obligations under the Terms or provide the Services or any part thereof if the performance is prevented, hindered or delayed by a Force Majeure Event (defined below) and in such case its obligations shall be suspended for so long as the Force Majeure Event continues.

      "Force Majeure Event" means any event due to any cause beyond the reasonable control of AyushPay, including, without limitation, unavailability of any communication system, breach or virus in the systems, fire, pandemic, flood, explosion, acts of God, civil commotion, riots, insurrection, war, acts of government.

    5. Governing Law

      1. These Terms shall be governed by and construed in accordance with the laws of India and subject to the provisions of arbitration set out herein, the courts at Mumbai and Delhi shall have exclusive jurisdiction in relation to any disputes arising out of or in connection with these Terms.

      2. If any dispute arises between Us and You in connection with or arising out of the

        validity, interpretation, implementation or alleged breach of any provision of these Terms, such dispute shall be referred to and finally resolved by arbitration in accordance with the Arbitration and Conciliation Act, 1996 for the time being in force, and which rules are deemed to be incorporated by reference in this clause. The dispute shall be resolved through arbitration by 1 (one) arbitrator and the seat and venue of the arbitration shall be Mumbai, India.

      3. The language of the arbitration proceedings and of all written decisions and correspondence relating to the arbitration shall be English.

      4. By acceptance of these Terms, You agree to be bound by the governing law and mechanism of dispute resolution above.

    6. Entire Agreement

      The Terms along with the Privacy Policy constitute the entire agreement between AyushPay and You and supersede and extinguish all previous agreements, promises, assurances, representations, warranties and undertakings, whether written or oral.

    7. Severability

      If any provision of the Terms is determined to be invalid or unenforceable in whole or in part, such invalidity or unenforceability shall attach only to such provision or part of such provision and the remaining part of such provision and all other provisions of the Terms shall continue to be in full force and effect.

    8. No Waiver

      AyushPay’s failure to exercise or enforce any right or provision of the Terms shall not be deemed to constitute a waiver of such right or provision herein. No waiver of any right shall be deemed as a waiver to any other rights or any subsequent breach. Any waiver of any provision of the Term shall come into effect only if in given writing and signed by AyushPay. Any waiver given under these Terms or otherwise by AyushPay shall be considered a waiver solely for the specific instance where such waiver was sought and given. Such waiver shall in no instance be deemed to be a continuing waiver or a waiver for past, future or other events of similar nature, and it is clarified that a waiver shall be sought by You for each instance specifically from AyushPay who in its sole discretion may accept or provide the waiver.

    9. Rights and Remedies

      Each of the rights, powers and remedies of AyushPay (i) are in addition to, and not in derogation of, other rights and remedies of AyushPay given by contract or by applicable law independent of these Terms; (ii) may be exercised even if this involves a conflict of duty or AyushPay has personal interest in its exercise; and (iii) is not affected by any payment, settlement or anything which might otherwise affect them at law.

    10. Consent

      By clicking on the tab or button or checkbox of AyushPay or any other tab or button or checkbox or confirmation of a similar nature, or by the virtue of usage of the Portal or continued usage thereof, You:

      (a) confirm that You is eligible under the applicable laws to enter into a valid contract and confirms that the Terms constitute a valid, binding and enforceable contract between You and AyushPay; and (b) accepts the Terms as displayed on the Portal; and

    11. Non-Exclusive Basis

It is agreed and clarified that the arrangement set out by the Terms between AyushPay and You are on a non-exclusive basis.

AyushPay is changing the way Indians pay for their healthcare and bridging the gap of their actual healthcare expense and what their insurance pays for. Simplifying, Indian Healthcare.