Terms and Conditions

This document is an electronic record in terms of Information Technology Act, 2000, amendments thereof from time to time and the rules thereunder as applicable and the amended provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000. This electronic record is generated by a computer system and does not require any physical or digital signatures.

Spice Money Limited with its registered brand “Spice Pay” (“Spice” or “We” or “Us” or “Our” or “Company” which also includes its affiliates) has been authorized by the Reserve Bank of India (“RBI”) to issue and operate in Prepaid Payment Instruments (“PPI(s)”). Spice has its registered office at 622, 6th Floor, DLF Tower A, Jasola District Centre, New Delhi-110025 and Corporate Office at Global knowledge Park, Plot No. 19 A & 19 B, Sector-125, Noida-201301, India.

These terms and conditions are legal contract (“Agreement”) between You and Spice. You agree and acknowledge that you have read the terms and conditions (“terms/ Terms”) set forth below. If you do not agree to these terms or do not wish to be bound by these terms, please do not use Spice’s site or the platform/ network or app.

    • “PPI Issuer” shall mean Spice, i.e., the issuer of PPI Wallet.
    • “PPI Wallet/ Card” a Prepaid Payment Instrument issued by Spice to a PPI Holder/ Customer and maintained by Spice for the purpose of usage of the PPI Wallet/ Card as per the Terms contained herein. The word “PPI(s)/ PPI” shall have the same meaning as PPI Wallet/ Card.
    • “PPI Holder(s) / Customer(s)” shall mean the holder of the PPI Wallet/ Card, in whose name the account is opened by Spice and who is authorized to perform transaction(s) as per the Terms mentioned herein. The words, “Yours/ yours”, “Him/ him”, “His/ his”, “You/ you”, “End User”, “Holders” and “Customer” shall have the same meaning as PPI Holder and shall include both singular and plural. Reference to masculine shall include the feminine and third gender. The terms may be accepted by individuals or entities/ non individuals such as corporate, partnership firms etc. and the terms within the document need to be construed accordingly irrespective of the usage herein.
    • “Platform” shall mean the Website/ Network/ App/ Portal of Spice.
    • By registering for or using our Platform and using the Services, You as the End User agree to be bound by these terms, including any additional guidelines and/or future modifications to these terms and the various products/ services offered by Spice shall be governed by these terms.
    • You agree and acknowledge that the access and use of the Services by You is voluntary and of Your own accord, and that the Terms shall be binding on You, for access and use of the Services, in India (“Territory”). Your access and use of the Services shall be subject to the applicable laws, rules and regulations in force in the Territory, and as may be amended from time to time (“Applicable Laws”).
    • Your act of accessing and using the Services, shall be deemed to be Your absolute agreement to these Terms and Privacy Policy (defined below) of Spice as prescribed from time to time.
    • Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force. All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms.
    • We are authorised by the Reserve Bank of India to issue and operate in PPIs to Customers on which they can load and transfer funds, to make purchases of goods and services and to use product/ services, which may include services such as recharge or bill payments, money transfer services, UPI services, Card services or any other services that may be offered by Spice through PPI (“Services”). For the purpose of availing the Services, You will be required to register Yourself upon providing certain information. Upon verification and successful registration, Your user account (“User Account”) will get created in the form of a mobile wallet through which You will be able to avail the Services.
      These Services are offered by Spice on its Platform and You acknowledge that you will be bound by this Agreement for availing any of the Services offered by us. Your access to use of the Platform and the Services will be solely at the discretion of Spice.
      The information provided on the Platform is not professional advice and must not be considered as such. Your use of information provided on the Platform is solely at your own risk.
      You give consent to Spice to collect Know your Customer (“KYC”) documents as per regulatory or statutory requirements or government agencies on your behalf.
    • Any personal information You supply to Spice when using the Services will be used by Spice in accordance with its privacy policy (“Privacy Policy”) available on the Spice’s Platform. Note: As per regulatory and/or statutory guidelines, We will maintain your records and all the transaction log undertaken for a period, as prescribed by the applicable laws, after closure of your PPI Wallet/ Card which will include your personal data such as your name, contact details, customer number and transaction history, etc.. These records and data shall be made available for scrutiny to RBI or any other agency agencies as may be advised by RBI.
    • Intellectual Property Rights for the purpose of this Terms shall always mean and include copyrights whether registered or not, patents including rights of filing patents, trademarks, trade names, trade dresses, house marks, collective marks, associate marks and the right to register them, designs both industrial and layout, geographical indicators, moral rights, broadcasting rights, displaying rights, distribution rights, selling rights, abridged rights, translating rights, reproducing rights, performing rights, communicating rights, adapting rights, circulating rights, protected rights, joint rights, reciprocating rights, infringement rights.
    • All trademarks, copyright, database rights and other intellectual property rights of any nature in the Platform and Services, any name, mark or logo related to Spice and/or the Services are owned either directly by Spice or Spice’s licensors. You should not adapt or use otherwise any name, mark or logo that is identical, or confusingly similar to any of these marks and logos. You agree and acknowledge that the access and use of the Services and Platform shall not be construed to confer on You any rights of any nature including rights in any form of intellectual property contained in the Services and/or Platform or related to Spice. If in the course of accessing and using the Services or Platform, You even unintentionally infringe the rights including rights in any form of intellectual property of Spice or Spice’s licensors in the Services, You shall immediately cease and desist any such use.
    • You agree and confirm that You shall not at any time reveal or make public any and all proprietary and/or confidential information relating to Spice, its business, the Services, that You may gain access to during the course of accessing and using the Services. Except as expressly authorized by Spice, You agree not to modify, rent, lease, loan, sell, distribute or create derivative works based on the content comprised in the Platform or Services, in whole or in part.
    • All material on this Platform and as part of the Services, including images, illustrations, audio clips, and video clips, are protected by copyrights, trademarks, and other intellectual property rights of Spice. Material on Platform is solely for Your personal, non-commercial use. You must not copy, reproduce, republish, upload, post, transmit or distribute such material in any way, including by email or other electronic means and whether directly or indirectly and You must not assist any other person to do so. Without the prior written consent of the owner, modification of the materials, use of the materials on any other platform or networked computer environment or use of the materials for any purpose other than personal, non-commercial use is a violation of the copyrights, trademarks and other proprietary rights, and is prohibited.
    • The Platform and the Services are not available to persons under the age of 18 or to anyone previously suspended or removed from the Services by Spice. By accepting these Terms and/or by using the Platform or Services, You represent that You are at least 18 years of age and have not been previously suspended or removed by Spice, or disqualified for any other reason, from availing the Spice Services or using the Spice Platform. In addition, You represent and warrant that You have the right, authority and capacity to enter into this Agreement and to abide by all the Terms as part of this Agreement. Finally, You shall not impersonate any person or entity, or falsely state or otherwise misrepresent Your identity, age or affiliation with any person or entity. In the event of any violation of the Terms, Spice reserves the right to suspend or permanently prevent You from availing Spice Services or using the Spice Platform.
    • The Platform and the Services here under are currently made available to You for Your personal and non-commercial use. Spice reserves the right to amend or withdraw the Platform and the Services, provided to You in accordance with these Terms, at any time and for any reason.
    • You acknowledge that the terms of agreement with Your respective telecom or internet service provider will continue to apply when using the Services. As a result, You may be charged by the respective telecom or internet service provider for access to network connection services for the duration of the connection while accessing the Platform and the Services or any such third party charges as may arise. You accept responsibility for any such charges that arise, and shall not claim the same from Spice or dispute the same.
    • If you are not the bill payer for the internet services provided by the telecom operator/internet service provider being used to access the Services, You will be assumed to have received permission from the bill payer for using the Services.
    • You are solely responsible for your use of the Services. Spice does not create, monitor, examine or inspect the content delivered to You through the Services, if any. Such content may include links to third-party websites and content. The linked content is not under Spice’s control and Spice is not responsible whatsoever for the content of any such linked content. The content does not represent or reflect any advice, views, opinions or beliefs of Spice. Further, you are advised to lodge a complaint (on www.spicemoney.com ) regarding any un-authorized transaction from your PPI Wallet/ Card.
    • You must only use the Services and anything available via the Services for lawful purposes (complying with all Applicable Laws), in a responsible manner, and not in a way that might damage Spice’s name or reputation or that of any of Spice’s affiliates or service providers. You agree and acknowledge that the use of the information delivered to You through the Services is Your sole responsibility and that Spice shall not at any time be held responsible for any unlawful usage of the information secured through the Services, by You.
    • You may find advertising or other content delivered with the use of Services that link to the sites and mobile applications and services of Spice’s partners, advertisers, sponsors, licensors and other third parties and service providers. Spice does not control the content, advertisement or links that appear through the Services and are not responsible for the practices employed by those websites and mobile applications linked to or from the Services. In addition, these sites and mobile applications or services, including their content and links, may be constantly changing. These sites and mobile applications and services may have their own terms of use and customer service policies. Browsing and interaction on any other website, advertisements and mobile applications which have a link in the Services, is subject to that website’s, advertisements and mobile applications own terms and policies. You may find campaigns and offers organized by Spice (on its own or along with Spice’s partners, Suppliers, advertisers, sponsors, licensors and other third parties and service providers), from time to time which may be made available to You in the course of Your access and use of Services. If You choose to participate in such campaigns and offers, You agree that Your participation shall be voluntary and at Your sole discretion. Further, You should read and understand fully the contents of such campaigns and offers and should be in agreement with them before Your participation. These campaigns and offers may have their own terms of use and customer service policies available on their respective websites and You agree to such terms of use and policies before You participate in any of them. Spice shall not be liable for any costs, liabilities, expenses and damages to You or any third parties arising out of and in course of Your participation in such campaigns and offers and Your availing the benefits therefrom.
    • You will not, nor allow third parties on Your behalf to (i) make and distribute copies of the Platform (ii) attempt to copy, reproduce, alter, modify, reverse engineer, disassemble, decompile, transfer, exchange or translate the Platform; or (iii) create derivative works of the Platform of any kind whatsoever. 
    • In order to access certain Services, you may be required to provide information about yourself (such as identification, contact or payment details) as part of the registration process for the Service, or as part of your continued use of the Services. You agree that any registration information you give to us will always be true, accurate, correct, complete and up to date. Any phone number used to register with the Platform needs to be registered in your name and you might be asked to provide supporting documents to prove the same.
    • You agree not to access (or attempt to access) any of the Services by any means other than through the interface that is provided by Spice, unless you have been specifically allowed to do so in a separate agreement with us.
    • You shall not host, display, upload, modify, publish, transmit, update or share any information that:
      • belongs to another person and to which You do not have any right to;
      • is grossly harmful, harassing, blasphemous, defamatory, obscene, pornographic, paedophilic, libellous, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever; or unlawfully threatening or unlawfully harassing including but not limited to "indecent representation of women" within the meaning of the Indecent Representation of Women (Prohibition) Act, 1986;
      • harm minors in any way;
      • infringes any patent, trademark, copyright or other proprietary rights or third party’s trade secrets or rights of publicity or privacy or shall not be fraudulent or involve the sale of counterfeit or stolen items;
      • violates any law for the time being in force;
      • deceives or misleads the addressee/ users about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;
      • impersonate another person;
      • contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource; or contains any Trojan horses, worms, time bombs, cancelbots, easter eggs or other computer programming routines that may damage, detrimentally interfere with, diminish value of, surreptitiously intercept or expropriate any system, data or personal information;
      • threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognisable offence or prevents investigation of any offence or is insulting any other nation;
      • shall not be false, inaccurate or misleading.
    • Spice is an authorized payment and settlement system operator under the Payment and Settlement Systems Act, 2007. It issues and operates PPI to Customers on which they can load and use them for purchase of goods and services, financial services, remittance facilities etc (as applicable under the features of specific PPI type). As per regulatory Guidelines , PPI Wallet/ Card is issued either in the form of Small PPI(s) or Full-KYC PPI. Small PPI(s) shall be issued after obtaining minimum details of the PPI holder which shall necessarily include a mobile number verified with OTP and a self-declaration of name and unique identity / identification number of any ‘mandatory document’ or OVD or any such document with any name listed for this purpose in the Master Direction - Know Your Customer (KYC) Direction, 2016 (“KYC Master Directions”), whereas Full-KYC PPI can be issued as well as Small PPI(s) can be converted to Full-KYC PPI post completion of KYC of the PPI holder as detailed in the KYC Master Directions issued by the RBI. Note: KYC documentation shall be in line with the prevailing RBI guidelines on KYC Master Directions. Below parameters and limit capping is applicable as per the Master Direction on Prepaid Payment Instruments (PPIs) dated November 12, 2021, and are subject to change as and when amended by the RBI (“PPI Master Directions”). PPI Wallet/ Card can be loaded through bank account (UPI/ NEFT/ IMPS)/ debit card or credit card / Full-KYC PPI. However, you will not be able to use prepaid cards, EMI, cards issued outside India or a combination of cards to add/ load amount to your PPI Wallet. Such loads will be as per the prescribed limits for Small PPI (with no cash loading or with cash loading) and Full-KYC PPIs, mentioned under these Terms and as provided by RBI from time to time.
  2. Small PPI (with cash loading facility) compliant PPI Wallet / Card:


    Benefits Schedule of Fees Validity or Expiry
    1 Use PPI balance to purchase in-app services like Bill Pay and Mobile Recharge. Loading of PPI Wallet by CASH at authorized agent - "nil" fees Such PPI will be held for a maximum period of 24 months only. The 24 months shall be counted from the day of opening such a PPI. Within this period of 24 months, it has to be converted into a Full-KYC PPI failing which, no further credit in such PPI is allowed. However, the PPI holder shall be allowed to use the available balance.
    2 Load / Reload PPI balance in CASH or electronic means. Loading of PPI Wallet by e-collect - "nil" fees
    Loading of PPI Wallet by Debit card/ Net Banking - "nil" fees
    Loading of PPI Wallet by Credit card – 2% of transaction amount
    You have an option to close such PPI(s) at any time. The closure proceeds can be transferred ‘back to source account’ (payment source from where the PPI was loaded). Alternatively, the closure proceeds can be transferred to a bank account after complying with KYC requirements of the Customer.
    3 Funds transfer and Cash withdrawal is NOT permitted. Loading of PPI Wallet by Debit card/ UPI intent - "nil" fees Reissue of such PPIs after exhausting the maximum time limit of 24 months using the same mobile number and same minimum details is not allowed.
    4 Amount loaded during any month shall not exceed ₹ 10,000/-; amount loaded during financial year shall not exceed ₹ 1,20,000/-; total amount debited during any given month shall not exceed ₹ 10,000/-; amount outstanding at any point of time shall not exceed ₹ 10,000/-; Bill pay - "nil" customer convenience fees

    Full-KYC compliant PPI Wallet / Card:


    Benefits Schedule of Fees Validity or Expiry
    1 Instant activation of UPI - Virtual Payment Address; Virtual Rupay Card; Bill Pay, Funds Transfer and Cash Withdrawal. Loading of PPI Wallet by CASH at authorized agent - "nil" fees Full KYC PPI will have a validity period of three (3) years from (i) the date of issuance of the PPI; (ii) the date of last loading/reloading in the said PPI or (iii) last utilization of the PPI, whichever is later.
    2 Order a Physical Rupay Card; avail complimentary Rs 2 lakh accidental insurance Loading of PPI Wallet by e-collect - "nil" fees
    Loading of PPI Wallet by Debit card/ Net Banking - "nil" fees
    Loading of PPI Wallet by Credit card – 2% of transaction amount
    An option is available to such PPI Holders to close the PPI and transfer the balance to their verified bank account. At the time of closure, a holder can specify a bank account which is different from pre-designated account given earlier.
    3 Funds transfer is allowed within a limit of ₹ 10,000/- per month per holder. An enhanced limit of up to ₹ 2,00,000/- per month per beneficiary can be availed if the beneficiary is ‘pre-registered’ by PPI holder. UPI - pay transaction; scan & pay; collect request; mandate authorization - "nil" fees
    4 Amount outstanding shall not exceed ₹ 2,00,000/- at any point of time; no limits prescribed for total credits or debits during a month. Rupay - ecom & PoS transactions - "nil" fees; But at some Merchants like Petrol Pumps may levy additional charges (surcharges). These charges are Govt. regulated and are imposed by Merchants directly
    5 Cash withdrawal is permitted upto a limit of ₹ 2,000/- per transaction within an overall monthly limit of ₹ 10,000/- per PPI Holder across all channels (agents, ATMs). Bill pay - "nil" customer convenience fees
    6 Cash withdrawal at Agent : "nil" charges
    7 Cash withdrawal by Card @ ATM: Rs 22 + taxes
  4. You agree and acknowledge the following:

  3. Spice reserves the right to modify or discontinue the Service with or without notice to You. Spice exercise its right to modify or discontinue the Service and Spice shall not be liable to You or any third party. You acknowledge and accepts that Spice does not guarantee continuous, uninterrupted or secure access to Platform and operation of our Platform may be interfered with or adversely affected by numerous factors or circumstances outside the control of Spice.

  5. You agree and acknowledge that Spice may collect IP address and Platform usage information from You. Spice may use the above information, inter alia.

  9. Notwithstanding any remedies that may be available under any Applicable Law, Spice may temporarily or permanently deny, limit, suspend, or terminate the Services provided to You, if Spice believes that: (a) You have abused Your rights to use the Services; or (b) You are in breach of this Terms or Privacy Policy; or, (c) You have performed any act or omission that violates any Applicable Law, rules, or regulations; or, (d) You have performed any act or omission which is harmful or likely to be harmful to Spice, or any other third party, including other users or suppliers of Spice or the service providers; or, (e) You made use of the Services to perform an illegal act, or for the purpose of enabling, facilitating, assisting or inducing the performance of such an act; or, (f) You made any confidential and/or proprietary information pertaining to the Spice and/or the Services public without the prior written consent of Spice. You agree that notwithstanding the termination, Spice will continue to be entitled to use the information supplied by You or collected from You during the use and access of the Services by You.

  13. Customer liability arising out of an unauthorized electronic payment transaction will be limited to:

    Particulars Maximum liability of Customer (PPI holder) (₹)
    In case of contributory fraud/ negligence/ deficiency on the part of Spice (irrespective of whether or not the transaction is reported by the Customers). Zero liability
    Third party breach where the deficiency lies neither with the Spice nor with the Customer but lies elsewhere in the system, and the Customer notifies the Spice regarding the unauthorised payment transaction. The per transaction customer liability in such cases will depend on the number of days lapsed between the receipt of transaction communication by the Customer from Spice and the reporting of unauthorised transaction by the Customer to Spice -
    i. Within three days* Zero Liability
    ii. Within four to seven days* Transaction value or Rs. 10,000 per transaction, whichever is lower.
    iii. Beyond seven days* Transaction Value
    In cases where the loss is due to negligence by a Customer, such as where he has shared the payment/login credentials, the Customer will bear the entire loss until he/she reports the unauthorized transaction to Spice. Note: Any loss occurring after the reporting of the unauthorized transaction shall be borne by Spice. Case to case basis
    Note: Spice may also, at its discretion, decide to waive off any Customer liability in case of unauthorised electronic payment transactions even in cases of customer negligence.

    Note: Spice is also guided by the following DPSS circulars:

      • Customer protection, reporting and resolution of issues reported by the Customers using PPI Wallet/ Card, shall be done by Spice in accordance with its Grievance Redressal Policy (“Grievance Redressal”) available on the Spice’s Platform.
      • Compensation for failed transactions shall be made to the Customers as per the provision of the PPI Master Directions and vide DPSS circular DPSS.CO.PD No.629/02.01.014/2019-20 dated September 20, 2019 (as amended from time to time), for “Harmonisation of Turn Around Time (TAT) and customer compensation for failed transactions using authorised Payment Systems.”
  16. You agree to indemnify and hold Spice, the licensors, business partners of Spice or the service providers and their respective officers, directors, shareholders, employees, sub-contractors, agents, parent companies, sister companies, subsidiaries and other affiliates, indemnified and harmless from any claim or demand, including reasonable attorneys' fees, made by any third party due to or arising out of Your use of the Platform or Services, any unauthorised use of the Platform or Services by You, Your violation of these Terms, or Your violation of any rights including rights in any form of intellectual property of any third party and/or any violation of applicable law by You.

  18. Spice may amend and modify this Terms from time to time, including any and all documents and policies incorporated thereto without any prior notice to You. You agree to be bound by any of the changes made in the Terms, including changes to any and all documents and policies incorporated thereto. Continuing to access and use the Services will indicate Your acceptance of the amended Terms. If You do not agree with any of the amended Terms, then You must avoid any further use and access of the Services. Spice advises You to periodically read these Terms, as it may change from time to time. Certain Services on the Platform may have additional terms (such as policies, guidelines, and rules) that will further govern your use of that particular Service and supplement these Terms. If you choose to register for or access any such Services, you will be presented with any relevant additional terms and conditions at that time. By using those Services, you agree to comply with such additional guidelines and rules. Any liability arising out of use of contactless payment option shall lie with the customer if not reported to the company. For any loss/stolen/misplaced payment instrument, customer shall immediately report the incident to the Company.

  20. Notwithstanding anything to the contrary mentioned elsewhere in this Terms, you acknowledge, authorizes and give consent to Spice to undertake KYC verification through CERSAI portal or DigiLocker or otherwise and undertake all such actions as may be required on behalf or otherwise to duly complete the process of the verification including by way of KYC fetched through CERSAI portal or DigiLocker and share such information with any authority and store such information in a manner it deems fit.

  22. Spice may share copies of identification data and other relevant documentation relating to the customer due diligence requirements with the entities which are regulated, supervised or monitored for, and have measures in place for, compliance with customer due diligence and record-keeping requirements in line with the requirements and obligations under the Prevention of Money Laundering Act, 2002, for them to rely on. Notwithstanding anything to the contrary mentioned elsewhere in this Terms, you expressly consent to Spice for sharing your KYC information with the Regulated Entities (including but not limited to Non-Banking Financial Companies and Banks) and business partner for the purpose of carrying out all possible checks and balances to assure the credibility of the user, improving existing services, data enrichment, generate affluence score, outsourcing relationship management activity, collection of overdues, launch of ancillary service or product. You further acknowledge that partner regulated entities will have sole discretion to provide a service to the user. If you are not eligible for a service as per the internal risk parameters of partner Regulated Entities, you will not have access to Spice. Furthermore, you acknowledge that the regulated entities and business partner will retain the information provided by you for regular credibility check and if eligible, you may receive request from Spice to complete the onboarding.

  24. The “Terms” including the Privacy Policy constitutes the entire agreement between You and Spice and governs Your access and use of the Services, superseding any prior agreements between You and Spice with respect to the Platform and Services. If any provision of these Terms is, or is found to be, unenforceable under applicable laws, that will not affect the enforceability of the other provisions of these Terms.