The following terms and conditions (“Fold Bills Terms”) are specific to the use of the bill payment product introduced by Fold in partnership with Anumati Technologies Private Limited (licensed COU Agent Institution under BBPS read more here) which allows users to pay bills from various billers (or make pre-paid mobile recharge and subscription payments) including but not limited to credit cards, electricity distribution companies, piped gas distribution companies, broadband companies, telecom companies (“Fold Pay Bills”).
All Users accessing the Fold Pay Bills screen or using Pay Bills shall be deemed to have read, understood and agreed to be bound by these Fold Bills Terms.
Eligibility
Fold shall make Fold Pay Bills available to some or all of Fold users at its sole discretion. Fold may also suspend or discontinue offering Fold Pay Bills for any Fold users at its sole discretion.
Information access, biller data and disclaimers
- By accessing the Fold Pay Bills screen or using Fold Pay Bills, you agree that Fold may identify the billers that you interact with (“Relevant Billers”). Upon Relevant Billers being identified by Fold, Fold shall from time to time fetch from the Relevant Billers or through BBPS payment system, the bill details and payment status in relation to your account with the Relevant Billers, and Fold may display such information to you on the Fold app and/or send you reminders of your outstanding dues to such Relevant Billers.
- In the event that you wish to stop receiving updates in relation to a Relevant Biller identified by Fold, you may archive the said Relevant Biller using the Fold app. You may also add a new biller not already identified by Fold, by inputting the biller details and your account details using the Fold app.
- You understand and acknowledge that while Fold undertakes best efforts to ensure accuracy of the information displayed on the Fold app, such information is derived from BBPS payment systems and other sources which may not be error free. Fold does not guarantee the accuracy or error free nature of the information displayed as a part of Fold Pay Bills. Fold recommends you to double check your bill details before making a payment
Bill Payments
- Fold shall enable you to pay your dues (or additional/partial amount) to the billers using certain payment instruments. The payment instruments enabled may be changed by Fold at its sole discretion from time to time based on success rates or any other relevant consideration. Fold does not guarantee the availability of any particular payment instrument for Fold Pay Bills.
- Fold shall process the payment to the biller only after Fold has received the payment from your payment instrument. Fold shall not be responsible for any delay occasioned due to any action or inaction on account of any bank or payment gateway involved in your transaction.
- You agree to not hold Fold responsible and/or liable for any issue or claim arising out of any dispute whatsoever between you and the biller, the payment gateway or your bank or BBPOU.
- Once a bill payment has been initiated it cannot be reversed.
- Fold may levy service charges for any Fold Pay Bills transaction. Such service charges if any shall be displayed on the transaction screen prior to the payment is initiated.
- You agree to not hold Fold liable for delays in bill payment arising from the biller's end. Fold recommends you pay your bills early to avoid late payment fees, if any, being levied by the biller.
Indemnification
- You agree to not hold Fold responsible and/or liable for any issue or claim arising out of any dispute whatsoever between you and the payment gateway or your bank or the counterparty (including but not limited to billers and the BBPS system).
- You shall keep Fold indemnified and hold Fold harmless in the case of any third-party claims against Fold (whether by the counterparty, payment gateway, bank, any government authority or any other person) for the payments made or attempted to be made by you (or any other person through your account) using Fold Pay Bills.
Information Input
- You are responsible for all the information you input during your use of the Fold app including the Fold Pay Bills features. You are responsible for ensuring that all the payment details provided by you are accurate.
- In particular you are responsible for ensuring the correctness of (i) details of the biller / bill account number; (ii) details of the payment instrument (or selection from the saved payment instrument); and (iii) the amounts of payment. In the event you input any of these details incorrectly or as suggested by Fold, you will be responsible for the resultant transaction and all charges that result from the same. Fold may at its own discretion, without having any obligation to do so, assist in reversing such transactions if technically feasible and viable for Fold.
- Fold may ask for additional information if required from time to time including but not limited bill copies etc to verify the underlying transactions, and in case you fail to provide such information then you may be unable to use the Fold Pay Bills features offered by Fold. Further, Fold may ask for additional documents in case a transaction appears to be suspicious. Failure to provide such documentation within 72 hours may result in your transaction failing and at Fold’s sole discretion, your access to Fold Pay Bills being revoked.
Disclaimers
- Fold Pay Bills feature is provided by Fold through a) aggregators with whom Fold has a contract or b) through the Bharat Bill Payment Operating Unit (BBPOU) infrastructure where the Biller is registered with NPCI for bill payments. Accordingly, Fold Pay Bills may be unavailable or settlement delayed in the event of any downtime or issues attributable to Fold’s partners.
- Once payment has been initiated it cannot be reversed and Fold will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with the instructions issued by you.
- Fold does not guarantee any timelines for payments to the counterparties. Any timelines mentioned on the Fold app are merely indicative in nature and not to be construed as guarantees.
- While Fold undertakes its best efforts to process the payment as directed by you at the earliest, Fold may delay, suspend, or reject a transaction for any payment(s) for any reason, including without limitation if we suspect the transaction poses a financial or security risk, or is unauthorized, or is fraudulent, suspicious, unlawful or in any way in violation of the applicable laws around such transactions or in violation of these Fold Bills Terms, subject to dispute or otherwise unusual.
- Fold recommends you to pay your bills with a sufficient gap from the due date and you agree to not hold Fold liable in case of delay of payment of your bill.