TERMS AND CONDITIONS GOVERNING UNIFIED PAYMENTS INTERFACE (UPI) SERVICES OF THE NATIONAL PAYMENT CORPORATION OF INDIA (NPCI).
These terms and conditions (“Terms”) apply to and regulate the provision of UPI fund transfer and fund collection facility provided by Standard Chartered Bank. Standard Chartered Bank shall endeavour to provide to the Customer, UPI Facility in accordance with the UPI guidelines, circulars and/or regulations issued by the Reserve Bank of India (“RBI”) and/or National Payments Corporation of India (“NPCI”) from time to time (“Guidelines”) and subject to the terms and conditions herein specified.
In this document the following words and phrases have the meanings set opposite them unless the context indicates otherwise: "Account(s)" refers to the resident Indian savings and /or current bank account(s) held and maintained with Standard Chartered Bank or resident savings and/or current account held with any bank in India which is also a UPI member bank, to be used for operations through the UPI Facility. "Customer" shall mean an account holder of Standard Chartered Bank as well as any other person (not necessary having any account relationship with Standard Chartered Bank) who has downloaded the Standard Chartered UPI Application and who is eligible for availing fund transfer facility to send or receive money offered thereunder.
“Merchant/s” shall mean and include online, mobile-app based and offline merchants who provides goods and services in exchange for payment through UPI.
“NPCI UPI System” means the switch and related equipment and software owned by NPCI to provide the UPI based fund transfer and funds collection facility including the National Financial Switch;
“Payment Instruction" shall mean an electronic fund transfer service to send or receive money; offered under the UPI Facility on Standard Chartered UPI Application;
“PSP (Payment Service Provider)” refers to banks which are allowed to acquire Customers and provide payment (credit/debit) services to Customers.
“SCB UPI Application” shall mean a mobile based application which uses the NPCI UPI libraries facilitating Payment Instructions that can be downloaded by a Customer from Google Play or Apple App Store.
"Standard Chartered Bank" means a bank incorporated in England with limited liability by Royal Charter 1853 with Reference Number ZC18, having Principal Office in England at 1 Basinghall Avenue, London, EC2V 5DD, and having its corporate office in India at Standard Chartered Bank, Crescenzo, 5/F, Plot no. C-38 & 39, G-Block, Bandra Kurla, Mumbai-400 051(which expression shall, unless it be repugnant to the subject or context thereof, include its successors and assigns).
“UPI” refers to the Unified Payments Interface Service offered by NPCI in collaboration with its member banks.
"UPI Facility" means the Unified Payments Interface Service based electronic fund transfer and fund collection facility provided by Standard Chartered Bank to the Customers through the NPCI UPI System as per the Guidelines.
As a PSP, Standard Chartered Bank will provide a mobile application i.e. the SCB UPI Application to the Customers which will use the NPCI UPI libraries facilitating payments. The SCB UPI Application can be used by Customers who may be Standard Chartered Bank’s customers or customers of other bank to transact on their Accounts, after a one-time registration process.
Scope of the UPI Facility
UPI Facility offers an instant, 24X7, interbank electronic fund transfer or fund collection service to the customers of UPI member banks. A Customer can put in request for fund transfers or funds collection or respond to funds collection from SCB UPI Application in a secure manner for any of their linked bank Accounts.
Eligibility and Usage:
Each Customer desirous of availing the UPI Facility shall by way of a one-time registration, in such form, manner and substance as Standard Chartered Bank may prescribe, apply for UPI Facility and Standard Chartered Bank shall be entitled, at its sole discretion, to accept or reject such applications. The Customer may apply for UPI Facility by downloading SCB UPI Application from Google Play or Apple App Store. On SCB UPI Application, Customer will have an option to set a virtual payment address and start transaction via UPI. Customer can link Accounts through a one-time registration process defined and standardized by NPCI and then start transacting on that. By applying for and accessing the UPI Facility, the Customer accepts these Terms, which shall govern the provision of the UPI Facility by Standard Chartered Bank. The Terms shall be in addition to and not in derogation of the Guidelines issued from time to time.
The UPI Facility shall be available to the Customer in India, subject to the condition that the Customer downloads the Standard Chartered UPI Application, successfully installs it and thereafter authenticate itself with the applicable credentials and sets the MPIN.
The Customer should have his/her mobile phone number registered with his/her bank for SMS/mobile banking and should have existing savings or current account relationship with his/her bank.
The Customer understands and accepts that any other condition that is a pre-requisite to access and avail benefits under the UPI Facility on the SCB UPI Application, including, but not limited to a mobile phone, data connection, etc. will be the sole responsibility of the Customer.
The Customer hereby acknowledges that the Customer has read and understood the Terms and agrees that the rights and obligations provided in these Terms in so far as it relates to the Customer shall be binding on the Customer with regard to every Payment instruction issued by the Customer for execution in the NPCI UPI System through the SCB UPI Application. If the Customer using the SCB UPI Application also holds a resident savings and/or current account with Standard Chartered Bank, then notwithstanding anything contained herein, all terms and conditions stipulated by Standard Chartered Bank in connection with such savings and current accounts shall continue to apply.
The authority to record the Customers details and transaction details is hereby expressly granted by the Customer to Standard Chartered Bank. All records generated by the transactions arising out of use of the UPI Facility through the SCB UPI Application, including the time of the transaction, beneficiary details, etc; recorded shall be conclusive proof of the genuineness and accuracy of the transactions.
The Customer authorizes Standard Chartered Bank to send any rejection message or to reject any Payment Instruction, if it finds that the request sent by the Customer is not as per the requirements stipulated by Standard Chartered Bank for availing the UPI Facility.
The Customer expressly authorizes Standard Chartered Bank to carry out all request(s) or transaction(s) for and/or at the request of the Customer as are available to the Customer through Standard Chartered UPI Application without Standard Chartered Bank having to verify the authenticity of any request or transaction purporting to have been received from the Customer through Standard Chartered UPI Application.
Standard Chartered Bank shall have the option to introduce new value added services in the SCB UPI Application at any time in future and the Customer shall be deemed to have expressly authorized Standard Chartered Bank to register the Customer for such new value added services.
Payments of Fees and Charges
Transaction fees may be levied by Standard Chartered Bank for usage of the UPI Facility through the SCB UPI Application. Please click here
to know the applicable charges.