These Terms of Service (hereinafter referred to as "Terms" or "Agreement") constitute a legally binding electronic agreement between STU Software Private Limited. (hereinafter referred to as the "Company", "we", "us", or "our"), a company incorporated under the Companies Act, 2013 of India, and any person or entity accessing, downloading, or executing transactions via our online payment portal and related software infrastructure (hereinafter referred to as the "Platform" or "Services"). Such a person or entity is hereinafter referred to as the "User", "you", or "your".
Please read these Terms carefully before utilizing the Platform.
By checking any box indicating acceptance, or by executing a financial transaction through our Platform, you explicitly acknowledge that you have read, understood, and agreed to be bound by all the provisions of this Agreement. If you do not agree to these Terms, you are prohibited from utilizing the Platform or its payment services.
Age and Competency
By using this Platform, you declare and warrant that you are at least eighteen (18) years of age and possess the full legal capacity to enter into a binding contract under the Indian Contract Act, 1872. If you are registering or transacting on behalf of a corporate body, firm, or trust, you warrant that you possess the explicit authorization and legal power to bind that entity to these Terms.
Electronic Record
This document is an electronic record generated by a computer system and does not require physical or digital signatures. This electronic record is published in accordance with the provisions of Rule 3(1) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021.
Credential Accuracy
To utilize specific transactional components of the Platform, you may be required to register an account or provide verified identity inputs (such as your full name, email, and mobile number). You agree to provide true, accurate, current, and complete information during registration.
Security Liability
You are solely responsible for maintaining the confidentiality of your account credentials, login passwords, One Time Passwords (OTPs), and any other security tokens. The Company shall not be held liable for any financial loss, unauthorized transaction, or identity fraud resulting from your failure to protect your security credentials.
Immediate Notification
You must notify the Company immediately at stucompany369@gmail.com if you discover or suspect any unauthorized access, breach of security, or anomalous behavior involving your account.
Irrevocable Mandate
When you initiate a financial transaction through our Platform using payment instruments like Unified Payments Interface (UPI), Credit Cards, Debit Cards, Net Banking, or Digital Wallets, you grant STU Software Private Limited. and its authorized partner institutions an irrevocable mandate to charge your selected payment instrument for the designated amount.
RBI Tokenization Standards
In strict compliance with Reserve Bank of India (RBI) mandates, the Company utilizes secure tokenization protocols for handling card details. Your raw financial data (such as full card numbers, CVVs, and pins) is processed directly by PCI-DSS compliant Payment Aggregators and is never retained on our internal servers.
Right to Decline
The Company, its partner banking institutions, and its integrated payment networks reserve the right to block, reject, or put a transaction on hold without prior notice if a transaction triggers risk filters, exceeds systemic velocity rules, or is suspected of involving fraud or money laundering.
Transactions suspected of violating the Prevention of Money Laundering Act (PMLA) may be escalated to the appropriate financial intelligence authorities without notice to the User.
Handling Failed Transactions
If money is successfully debited from your bank account or payment instrument, but the transaction fails to complete successfully on our Platform due to network timeouts or server communication drops, the funds will be reversed.
RBI Turnaround Time (TAT) Framework
All reversals for failed or broken transactions are strictly governed by the RBI's Master Directions on Turnaround Time (TAT) and customer compensation for failed transactions. Reversals are processed automatically and typically clear back into your original source payment instrument within five (5) to seven (7) business days.
Note: Actual reversal timelines may vary depending on your issuing bank's internal clearing cycles. The Company will initiate the reversal on its end within the RBI-mandated timeframe.
Destination of Refunds
In compliance with Indian digital banking frameworks, all approved merchant refunds, overpayments, or cancellations must be routed back exclusively to the original payment method and account source used to initiate the transaction. The Company will not fulfill requests to redirect refunds to alternative bank accounts or cash methods.
You explicitly agree that you will not use the Platform or Services to conduct, facilitate, or support any of the following activities:
Illegal Transactions
Engaging in transactions that violate any local, state, national, or international laws, including buying or selling prohibited goods, narcotics, restricted substances, or weapons.
Financial Crimes
Utilizing the software portal to facilitate money laundering, terror financing, tax evasion, or other financial crimes regulated under the Prevention of Money Laundering Act, 2000 (PMLA).
Platform Exploitation
Attempting to reverse-engineer, decompile, hack, inject malicious code into, or disrupt the functional integrity of our API networks, payment infrastructure, or software databases.
Violations of this section may result in immediate account termination, reporting to law enforcement authorities including CERT-In, and civil or criminal proceedings under applicable Indian law.
Absolute Ownership
All proprietary code, software frameworks, user interface designs, logos, text, graphics, data architectures, and algorithms deployed within the Platform are the exclusive property of STU Software Private Limited. and are protected under Indian and international copyright, trademark, and intellectual property laws.
Limited License
You are granted a non-exclusive, non-transferable, revocable, limited license to access and use the payment portal solely for the execution of authorized personal or commercial transactions. You shall not copy, modify, exploit, or distribute any part of our intellectual property without explicit written consent from the Company.
"As Is" Availability
The Platform and its digital services are provided on an "as is" and "as available" basis without any express or implied warranties, including but not limited to warranties of merchantability, fitness for a particular purpose, or uninterrupted availability.
Downstream Infrastructure Dependencies
Because digital payment processing relies on third-party infrastructure (such as your issuing bank's servers, payment aggregator APIs, telecom networks, and the National Payments Corporation of India (NPCI) grid), the Company shall not be held liable for any transaction delays, payment failures, network drops, or system downtime caused directly by these external dependencies.
Maximum Cap on Liability
To the maximum extent permitted under applicable Indian laws, the total aggregate liability of STU Software Private Limited. for any claim, dispute, or action arising out of your use of the Platform shall be capped at:
You agree to indemnify, defend, and hold harmless STU Software Private Limited., its directors, employees, officers, and banking partners from and against any third-party claims, financial losses, liabilities, regulatory fines, damages, and legal costs arising from:
- Your breach of any provision within these Terms.
- Your fraudulent, unauthorized, or illegal use of any payment instrument.
- Your violation of the rights of any third party, including intellectual property infringement or data breaches caused by your actions.
Legal Interpretation
These Terms and any operational disputes arising from them shall be governed, interpreted, and enforced strictly in accordance with the laws of the Republic of India.
Exclusive Jurisdiction
You and the Company explicitly agree that any legal actions, suits, or judicial proceedings arising out of this Agreement shall be subject to the exclusive jurisdiction of the competent courts located in Bengaluru, Karnataka, India.
The Company reserves the right to amend, update, or rewrite these Terms at any time to reflect changing economic conditions, regulatory shifts by the RBI, or software upgrades.
How We Notify You
When modifications occur, we will update the "Last Updated" date at the top of this document. It is your responsibility to review these Terms periodically. Your continued use of the Platform following changes constitutes your complete acceptance of the revised Terms.
In compliance with the Information Technology Act, 2000 and rules made thereunder, any operational grievances, software bugs, or compliance issues related to these Terms should be reported immediately to our support division:
Support & Compliance Desk
Customer Operations Division — STU Software Private Limited.