Terms & Conditions

"Zip by MobiKwik" or "Zip Services" is a deferred payment option facilitated by MobiKwik

One Mobikwik Systems Limited - "MobiKwik" "We" "Us" "Our"

Users (“you” / "User") are required to read, review, understand and agree to the terms hereunder for using or availing of the Zip Services, by clicking on the "I Accept"/ "Submit" button in the MobiKwik App. Upon clicking the "I Accept"/ "Submit" button on the MobiKwik App, a User indicates their acceptance of these terms and their intention to be bound by it. Once the terms contained hereunder are accepted by a User, the same shall be binding on the User while availing Zip Services in any manner whatsoever, and subsequent to such User's use of the Zip Services. MobiKwik in consultation with its Lending Partners has the right to suspend or freeze this facility any time at its discretion.


Terms of Usage
  1. Zip is a premium product, which is only available to a limited set of Users, as may be sanctioned by the lending partners of MobiKwik (“Lending Partners”) in their sole discretion. Its approval or rejection is based on the data shared by the User and at the discretion of the Lending Partner. Further to this, the approved credit limit is specific to every individual User.
  2. Zip can be used within the MobiKwik App for limited services & on select merchants.
  3. In order to avail the credit facility provided by the Lending Partners, the User shall be provided with and agree to terms and conditions including the key fact statement, summary of product, sanction letter, terms and conditions of the Lending Partner and MobiKwik, account statements and privacy policies (“Loan Documents”).
  4. One time, non-refundable activation fee ranging between INR 99 to INR 399 inclusive of applicable taxes, if any. The aforesaid fee shall be applicable after ZIP has been used to pay for the first time and the first invoice has been generated. The aforesaid fee shall be included in the Loan Documents charged by the Lending Partner.
  5. All charges including but not limited to activation fee, processing fee, penalties, etc., as applicable, will form part of the Loan Documents provided to you.
  6. Invoice for the amount used will be generated at the end of the month or on the 1st day of the next month. User to repay the same within 5 days from the date of generation of the invoice. If the invoice amount is not paid by the User till the due date, delay penalties will be applicable based on the amount due & the number of unpaid days as per the Loan Documents provided below and by the Lending Partners.
    Principal Outstanding (in INR) Bill Bounced Charges/Cycle Late Payment Fee/Cycle Overdue Charges/Daily
    Rs.101-500 Rs.250 2.5% of the Principal Outstanding (POS) If previous bill unpaid by due date overdue charges of 0.1% of POS
    Rs.501-1000 Rs.250
    Rs.1001-2500 Rs.500
    Rs.2501-5000 Rs.500
    Rs.5001-7500 Rs.500
    Rs.7501-10000 Rs.500
    Rs.10001-20000 Rs.500
    >Rs. 20000 Rs.500

    Note- All the above charges are excluding GST, which will be levied additionally.


    Please note that the penalty amount is calculated and charged at the time of bill generation by the Lending Partner.
  7. Facility eligible for pre-payment may be prepaid by making payment of the principal outstanding amount along with proportionate annual percentage rate during the cooling-off period (as defined by the relevant Lending Partner) without any penalty by raising a request and sending a message on the MobiKwik platform. Terms and conditions of prepayment will be mentioned in the Loan Documents.
  8. MobiKwik may offer certain additional benefits on paying via ZIP Services including but not limited to cashbacks or instant discounts subject to the User setting up MobiKwik Wallet and undertaking KYC. The User agrees to create his/her MobiKwik Wallet prior to undertaking ZIP Services.
  9. Zip Services are provided as a credit line via one of the Lending Partners. You consent to MobiKwik sharing your basic details with the Lending Partners who reserve the right to use such information with your explicit consent, to approach, make enquiries, obtain information, from any person including other banks/finance entities/credit bureaus, to assess your track record, credit risk, or for establishing contact with the borrower. You have the right to deny consent for use of specific data, restrict disclosure to third parties, revoke consent already granted for collecting your data and make the MobiKwik application delete/forget your data. If you wish to do any of the aforesaid, you may refer to MobiKwik’s privacy policy and get in touch with us on the MobiKwik platform. You may choose to delete your account at any point of time by contacting us on the details mentioned in the privacy policy. With this we will no longer provide your data for external processing. However, in all cases we retain your personal data as long as the purpose for its usage exists, after which the same is disposed off by us except for any record retention required as per applicable law. The provisions of various laws require your transaction logs to be stored for longer periods post the deletion of an account. Further, in the event of the pendency of any legal / regulatory proceeding or receipt of any legal and / or regulatory direction to that effect, we may be required in accordance with applicable laws to retain your personal data for longer periods.
  10. In case a User delays the repayment, it will be reported to the bureaus as non-payment. This will adversely impact the User’s credit score, thus reducing the User’s chances of credit and loan approvals in future.
  11. Limit of this facility may be frozen if the User fails to make payment by the due date and no further transaction will be allowed using Zip Services.
  12. MobiKwik and/or the Lending Partner will share the repayment schedule as part of the Loan Documents at the time of sanction and the User agrees to abide/agree to it.
  13. Your credit limit may be increased by the Lending Partners pursuant to obtaining your explicit consent for the same.
  14. User shall pay all dues for total outstanding via payment modes shared by the Lending Partners.
  15. The validity of the Zip by MobiKwik account is 1 year and is subject to auto renewal after one year.
  16. By clicking on the tab/ button/ checkbox of "I Accept" or any other button/ checkbox of similar nature: (i) You confirm that You are eligible under Applicable Law to avail the Facility, (ii) You consent to avail and use the Facility as per the terms and conditions of these Facility Terms and Loan Documents; and (iii) You consent to receive communications, notices and information from MobiKwik and our business partners, service providers, authorized third parties etc. (whether through SMS, emails, phone calls, automated phone calls or by any other means). Electronic communications shall be deemed to have been received by you when MobiKwik sends the electronic communication to the email address/ mobile number/ details provided by you or any other third party. You agree that you will not hold MobiKwik or its business partners/ service providers/ authorized third parties responsible for any such communications received from MobiKwik/ our business partners/ service providers/ authorized third parties, nor will any such communication amount to spam, unsolicited communication or a violation of user registration on the national do not call registry.
  17. User acknowledges and agrees that merely by accessing the MobiKwik platform or applying for the credit facility, User would not be entitled to avail the facility. Lending Partners would determine User eligibility to avail the facility, and in this regard, User to provide certain information and documents as may be required by the Lending Partners as per its policies.
  18. For the purposes of ascertaining User’s eligibility to avail the facility, the Lending Partners shall have the right to, evaluate and examine: (i) the information and documents provided by User at the time of availing the facility; and (ii) the information and documents available with the MobiKwik prior to User application for availing the facility with the User’s consent; (collectively, "User Information"). User acknowledges and agrees that the User Information may be transferred to and used by MobiKwik and/or MobiKwik's affiliates, agents and third party service providers and Lending Partners that are engaged by MobiKwik for the purposes of facilitating extension of the facility, including for the purposes of determining User eligibility to avail the facility, facilitate collection of dues, determining the quantum of the facility that may be availed by User and the repayment schedule ("Repayment Schedule") that may be offered to the User. While undertaking such evaluation, Lending Partners, shall have the right to evaluate such other information and documents concerning User that is available with it, as it deems appropriate. At all times, your information will be treated by the Lending Partners and  MobiKwik, as the case may be, in accordance with applicable law, these terms and conditions and privacy policies.
  19. MobiKwik reserves the right to, and stores user data for a minimum period of 10 years. MobiKwik ensures strong access control mechanisms and layered encryption to ensure and maintain the confidentiality, integrity and availability of the data which prevents misuse, tampering, unauthorised access, modification or disclosure of the same. The same is attested by third-party independent auditor/auditor(s) on periodic and need-to- know / adhoc basis as per regulatory and compliance requirements. MobiKwik strictly urges Users not to share their passwords, credentials, OTPs and other sensitive information with anybody. MobiKwik doesn't and shall not ask the Users for the same. The card data security is in adherence with the PCI-DSS. While MobiKwik is committed to provide its Users a safe digital experience and observes reasonable security measures to protect User's data, however there might be reasons outside of the MobiKwik's control affecting User’s data.
  20. MobiKwik shall maintain necessary records in respect of the facility entered into by User and amounts due in respect of the facility. User agrees that such records as maintained by MobiKwik shall be sufficient proof of the transactions entered into by the User as per applicable laws, which User shall not dispute.
  21. User acknowledges and agrees that MobiKwik may stop (permanently or temporarily) accepting the facility as a payment option for products, at its sole discretion, without prior notice to the User. User’s discretion to stop using the facility for payment shall not affect the User’s obligation to repay the amounts due and payable by the User as per these facility terms and Loan Documents.
  22. User acknowledges and agrees that the Lending Partners may cancel/ suspend/ terminate the facility (whole or part) at any time, with or without prior notice to User. Any outstanding amounts to be paid to the Lending Partners by User, under the Facility, shall continue to be governed by these facility terms and Loan Documents.
  23. User warrant that all the User Information provided by User for availing the facility, shared by User with MobiKwik, is accurate and up to date. MobiKwik can verify the User Information shared by User and communicate to the Lending Partners regarding refusal to extend the facility.

  24. User agrees to use the Facility only for purposes that are permitted by these facility terms, Loan Documents and any applicable law as amended from time to time.

  25. User acknowledges and agrees that MobiKwik shall have the right to facilitate collection of the payments due under the Facility on behalf of its Lending Partner(s), either directly or through agents or third party service providers

  26. Website links of the Lending Partners are listed below for your ease of access and reference:
    IDFC: https://www.idfcfirstbank.com/personal-banking/adlp/digital-lending-partners/one-mobikwik
    Lendbox: https://www.lendbox.in/channel-partner-investor
    HFCL: https://www.herofincorp.com/

  27. Details of Nodal Grievance Officer are as under:
    MobiKwik:
    Name: Prashant Gandhi
    Email ID:  nodal@mobikwik.com
    Address: One MobiKwik Systems Limited Unit No. 102, 1st Floor, Block-B, Pegasus One, Golf Course Road, Sector-53, Gurugram 122003

    IDFC FIRST Bank:
    Name: Ms. T Arora
    Designation: PNO
    Address: IDFC FIRST Bank Ltd., Building No. 2, Raheja Mindspace, MIDC Industrial Area, Shiravane, Juinagar, Nerul, Navi Mumbai 400706, Maharashtra, India
    Customer Care Number: 1800 10 888
    Email Id: Banker@idfcfirstbank.com / head.customerservice@idfcfirstbank.com

    Hero FinCorp Ltd:
    Name: Ms. Monica Arora
    Designation: Grievance Redressal Officer
    Address: A-44, Mohan Co-Operative Industrial Estate, Mathura Road, New Delhi – 110044
    Contact Number: 0124-3633945(9:30 am to 6:30 pm)
    Email Id: nodal.officer@herofincorp.com

  28. Without prejudice to MobiKwik rights under applicable law, User understands and agrees that as permitted by the Lending Partners, in the event of User inability to repay the facility amount due and payable, or any other breach of these facility terms, MobiKwik on behalf of its Lending Partners would be entitled to facilitate recovery of the amounts due in respect of the facility in any manner as they deem fit, and take or request any third party to take such other measures in this regard, including but not limited to limiting/ terminating access to MobiKwik platform.
  29. User acknowledges and agrees that after opting for the facility, MobiKwik would send statement (or statements in respect of such other periodicity as is determined by MobiKwik) of the facility availed and outstanding, to User's email address and/or phone number registered with MobiKwik, its service provider and/or authorized third parties. In addition, MobiKwik either directly, would also have the right to send User alerts, reminders, or other communications regarding instalments/ payments due and payable as per the invoice. For the said purposes, the mode of communication may be determined by MobiKwik and such mode of communication may include phone calls, SMS, in-app messages and push notifications, in-app chat, and/or through the customer service call line, as the case may be, or any other mode of communication as may be decided by MobiKwik.
  30. FORCE MAJEURE
    MobiKwik shall not be held liable for any delay of or failure to comply with any of the terms of this Facility Terms, nor shall any such delay or failure be deemed a default when such delay or failure has been caused primarily by any circumstances beyond the reasonable control and without the fault of MobiKwik affected, including but not limited to fire, war, insurrection, government restrictions, act of terrorism, computer system failure or act of God or such other event which is beyond the control of MobiKwik ("Force Majeure Event"), provided that such affected Party uses due diligence to mitigate the effects of the Force Majeure Event on the performance of its obligations under this facility terms.
  31. Indemnification
    • MobiKwik shall not be responsible or liable for any loss or damage, howsoever caused or suffered by User arising out of the use of the facility or inability to repay the facility or due to failure to facilitate provision of the facility to User for any reason whatsoever including but not limited to User's non-compliance with the facility terms, Loan Documents, User’s lack of eligibility under these facility terms, partial or total failure of any network terminal, data processing system, computer telecom transmission or telecommunications system or other circumstances whether or not beyond MobiKwik's control or the control of any person or any organization involved in the above mentioned systems.
    • MobiKwik will not be liable for and hereby disclaims any and all liability arising out of or related to damages of any kind (including bodily injury/harm and death) arising from the use of the facility offered including, but not limited to direct, indirect, incidental, punitive, and consequential damages.
    • MobiKwik shall not be liable for any content on the MobiKwik platform that User may find indecent, offensive or objectionable. User shall use the Facility at his/her own risk.
    • User agrees to indemnify and keep MobiKwik, its affiliates and licensors against all costs, expenses, damages, losses and liabilities incurred or suffered by MobiKwik or its affiliated companies and licensors related to any content posted or transmitted by User during the use of the facility or the MobiKwik platform and/or for using the Facility in contravention of applicable laws, these facility terms and the Loan Documents.
  32. Conflict
    In the event of any contradiction or inconsistency between these facility terms and any other terms of use or privacy policy of MobiKwik, these facility terms shall prevail unless the exception has been expressly agreed to in writing.
  33. Disclaimer
    MobiKwik and its representatives, officers, employees, agents and contractors shall not be liable for any loss, damage, claim, expense, cost (including legal costs) or liability arising directly or indirectly from your use or non­ use of the facility and the products, or your reliance upon the facility or the information contained on the MobiKwik platform (whether arising from MobiKwik or any other person's negligence or otherwise).
  34. Governing law and dispute resolution

    (a) These terms shall be governed by, and construed in accordance with, the laws of India, without reference to principles of conflicts of law. The Courts of Gurgaon shall have exclusive jurisdiction over any dispute arising from or relating to these terms and/or in relation to the facility.

    (b) You expressly consent to the jurisdiction of said Courts and waive any objection to such personal jurisdiction based on forum inconvenience or any other basis.

  35. SETTLEMENT OF DISPUTES AND GOVERNING LAW
    Any differences or disputes arising out of or relating to these terms shall be settled amicably in the first instance. Unresolved disputes or differences shall be referred to a sole arbitrator, who shall be appointed by MobiKwik only and User shall have no objection to the same. The arbitration shall be governed by the Arbitration and Conciliation Act, 1996 or any statutory modification or re-enactment thereof and the Rules made there under and for the time being in force. The award of the arbitrator shall be final, conclusive and binding on the parties. The venue of such arbitration proceedings shall be Gurgaon and shall be conducted in the English language only. Laws of India shall govern these terms, the documentation pursuant hereto and Courts in the City of Gurgaon having exclusive jurisdiction over all aspects governing the interpretation and enforcement of these terms and other documentation pursuant hereto.
  36. Bureau Partner Terms of use: In connection with submission of the application for my credit information ("Consumer Credit Information") offered by CRIF High Mark ("CIC") through One MobiKwik Systems Limited (referred to as the "Company") and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
    1. The Company is my lawfully appointed agent and he/ it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from CIC on my behalf on a monthly frequency for a period of 12 months and use it in the manner consistent with the Agreement entered into between the Company and CIC, and the Company has granted its consent for being appointed for the aforesaid purpose.
    2. I grant my unconditional consent to the Company to receive the Consumer Credit Information from CIC on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and CIC, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
    3. I hereby expressly grant unconditional consent to, and direct, CIC to deliver and/ or transfer my Consumer Credit Information to the Company on my behalf.
    4. I shall not hold CIC responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information, whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and CIC
    5. I acknowledge and accept that: (a) CIC has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between CIC and the Company is solely the responsibility of the Company.
    6. I agree that I may be required to record my consent/ provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Company authorizing Company to obtain my Consumer Credit Information from my personal credit profile from CRIF High Mark. I further authorize Company to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases by checking this box and clicking on the Authorize button, I agree to the terms and conditions, acknowledge receipt of CIC privacy policy and agree to its terms, and confirm my authorization for Company to obtain my Consumer Credit Information.
    7. I understand that in order to deliver the product to me, I hereby authorize Company, to obtain my Consumer Credit Information from CIC.
    8. By submitting this registration form, I understand that I am providing express written instructions for Company to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Company account. I further authorize Company to retain a copy of my information for use in accordance with Company's Terms of Use and Privacy Policy.
    9. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN "AS-IS", "AS AVAILABLE" BASIS AND CIC EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
    10. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge CIC, its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter "Releasee"), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) ("Losses"), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and/ or my decision to provide CIC with the authority to deliver my Consumer Credit Information to the Company. I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against CIC L by third parties arising from and in connection with this letter.
    11. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. CIC is entitled to assign its rights hereunder to any third person without taking my prior written consent.

 

​​​Consumer Consent for accessing Consumer Credit Information Report {CIR)

I hereby appoint One Mobikwik Systems Ltd_ (hereinafter referred as "Company"), having its registered office at Unit No. 102, 1st Floor, Block-B, Pegasus One, Golf Course Road, Sector-53, Gurugram, Haryana-122003, India, as my lawful agent to receive my credit report/credit history ("Credit Information") from Credit Information Companies ("CICs").

I further authorize the Company to share with ClCs, my personal information/details to procure my Credit Information on a monthly frequency and use the same to facilitate provision of Facility to me ("Purpose").

I understand and acknowledge that the CIC shall not be liable under law or equity, in any manner whatsoever, for providing my Credit Information to the Company and I will not raise any claim or objections against the CIC.

I confirm that this consent is given by my free will and not due to any solicitation by any person/entity.

This consent/authorization shall be valid for (i) a maximum period of 06 (six) months, from the date of giving the same, (ii) satisfying the Purpose or (iii) until I withdraw my consent at any time, by informing the same to the Company, at their registered office address, website, assigned email id or mobile application, whichever is earlier.

I also consent to the CRIF High Mark Credit Score Terms of Use.

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