Terms and Conditions
These Terms and Conditions ("Terms") constitute a legally binding agreement between you (the "Merchant") and Glomo Payments IFSC Private Limited ("Glomo"), a regulated Payment Service Provider under the IFSCA (Payment Services) Regulations, 2024, having its registered office at GIFT City, Gandhinagar, Gujarat, India. These Terms govern the Merchant’s access to and use of Glomo's Services.
DEFINITIONS
“Account Issuance Service(s)” shall have the same meaning assigned to it under the PS Regulations;
“Agent(s)” shall have the same meaning assigned to it under the PS Regulations;
“AML, CTF, and KYC Regulations” means IFSCA (Anti Money Laundering, Counter Terrorist-Financing and Know Your Customer) Guidelines, 2022 issued by IFSCA on October 28th, 2022, and any amendments made thereto;
“API” means the Application Programming Interface maintained and developed by Glomo;
“API Key” means unique alphanumeric code that serves as a credential to authenticate and authorize requests made to Glomo’s systems shared one time by Glomo at the time of onboarding on the Payments Account;
“Applicable Laws” means any law, statute, rule, regulation, order, circular, decree, directive, judgment, decision or other similar mandate of any applicable central, national, state or local Governmental/Regulatory Authority having competent jurisdiction and force of law over, or application to the Party or subject matter in question, as may be amended from time to time. Applicable Laws shall without limitation include any notification, circular, directive or other similar instruction issued by the ‘Financial Sector Regulators’ including but not limited to the IFSC Authority, including the AML, CTF, and KYC Regulations and PS Regulations;
“Beneficiary” means the beneficiary of payments (individual or entity) designated to receive a payment undertaken by the Merchant on the Glomo Platform;
“Confidential Information” shall have the meaning ascribed to it under clause 11.1.
“Cross-border Money Transfer Services” shall have the same meaning assigned to it under the PS Regulations and includes payments executed by the Merchant within IFSC either in the capacity of a payer, payee, or both;
“Customer” means any person that seeks to purchase Products from the Merchant on the Merchant Platform;
“Data Protection Legislation” means all applicable laws, regulations, and rules relating to the collection, processing, storage, protection, transfer, or use of Personal Data, including any requirements regarding notice, consent, security, data breach notification, or data subject rights, as amended from time to time.
“Disclosing Party” shall have the meaning ascribed to it under clause 11.1.
“Escrow Account” means Glomo’s current account in the nature of escrow account opened with an IFSC Banking Unit or an IFSC Banking Company as defined in the PS Regulations;
“Facility Providers” means banks, financial institutions, card networks, and technology service providers, facilitating the provisions of Services or any part thereof, including but not limited to (a) acquiring banks, (b) banks issuing credit cards, debit cards, prepaid instruments and accounts, and (c) card payment networks;
“Glomo Platform” means an online platform developed and maintained by Glomo which may be in the form of an API of a dashboard that allows the Merchant to view, monitor, and manage data, metrics, and terms related to the Services. The Glomo Platform inter alia enables the Merchant to issue instructions concerning the Services, which shall be considered binding;
“Governmental/Regulatory Authority” means any central or state government or other political subdivision thereof and any entity, including any regulatory or administrative authority or court, exercising executive, legislative, judicial, regulatory or administrative or quasi-administrative functions of or pertaining to government;
“IFSC” means International Financial Services Centre;
“Intellectual Property” means all rights, titles, and interests in data, information, inventions, and intellectual property, including patents, trademarks, copyrights, designs, trade secrets, know-how, new uses, processes, analytical methods, procedures, techniques, research, procedure manuals, financial information, computer technical expertise, software, moral rights, and any other proprietary rights or forms of intellectual property, whether registered or unregistered;
“Merchant” means a legal entity involved in the sale, distribution or dissemination of Products to its Customers, and wishes to use Glomo’s Services for carrying out its business;
“Merchant Acquisition” shall have the same meaning assigned to it under the PS Regulations;
“Merchant Platform” means an online platform / website of the Merchant where the Products can be availed by the Customers;
“Merchant Settlement Account” means the bank account held, and communicated to Glomo, by the Merchant, where Glomo shall settle the Transaction amounts to the Merchant;
“Party/ies” are collectively referred to Glomo, Merchant, and the Referrer.
“Payments Account” shall have the same meaning assigned to it under the PS Regulations, i.e. the account of Merchant into which settlement proceeds are transferred by Glomo;
“Personal Data” shall have the meaning ascribed to it, along with to ‘personal information’ and ‘sensitive personal data or information’, under applicable Data Protection Legislation.
“Products” means any goods or services sold by the Merchant online, whether in tangible, digital, or intangible form;
“Receiving Party” shall have the meaning ascribed to it under clause 11.1.
“Services” means payment services stipulated in Annexure A;
“Transaction” means any financial or payment-related activity effected through the Glomo Platform, including but not limited to: (i) payments made by Customers to the Merchant for goods or services; (ii) outward payments initiated by the Merchant from its Payments Account towards settlement of liabilities or other obligations; and (iii) additions or deposits of funds by the Merchant into its Payments Account, including for the purpose of maintaining foreign exchange balances or using the account as a multi-currency facility.
SERVICES
Glomo will provide the Services in accordance with the terms set out in these Terms. The Merchant agrees that Glomo reserves the right to update the Services from time to time.
Merchant’s use of Services will be subject to the terms of these Terms, as may be modified from time to time, which modifications shall be deemed to be incorporated into and considered as part and parcel of these Terms. The Merchant is solely responsible for understanding and complying with any and all Applicable Laws of the Merchant’s specific jurisdiction, in connection with its use of the Services.
With effect from the Effective Date, settlement of payments with respect to Transactions executed on the Merchant Platform or Glomo Platform as the case may be facilitated through the Escrow Account in accordance with Applicable Law.
Glomo will have full discretion over matters relating to Glomo Platform and all aspects of display, presentment, location, and promotion of Services.
Glomo will, to the best of its ability, maintain a business continuity and disaster recovery plan designed to recover from any interruption of Service.
The Parties grant to each other, a limited license to use, reproduce, and publish the other Party’s service names, logos, and trademarks to identify the other Party as a user/provider of the Services, including in marketing, communications, and promotional materials.
GLOMO FEES
Charges associated with the provision of Services to the Merchant ("Fees") shall be charged according to the manner, rates and frequency decided between Referrer and Glomo; and informed by the
Referrer to Merchant.Merchant hereby declares that Referrer has authorised the Referred to refer itself as a Merchant to Glomo and agree, confirm the manner, rates and frequency of the Fees on behalf of the Merchant.
Unless otherwise agreed between the Parties, all Fees will be deducted from the monies required to be settled to the Merchant. The Fees may also be collected directly from the Customers at the time of requisite payments on the Merchant Platform if so agreed between the Parties.
Glomo shall not be deemed to have knowledge of, or be required to verify or interpret, any agreement or arrangement between the Merchant and the Referrer to which Glomo is not a Party to explicitly.
The Fees shall be displayed to the Customer at the time of checkout on the Merchant Platform along with the total amount payable by the Customer to Merchant.
The Fees shall be exclusive of all applicable taxes, including GST. Any statutory variations in applicable taxes during the Term of these Terms shall be borne by the Merchant.
Glomo shall issue monthly invoices reflecting the Fees due for Services rendered during that month, which shall be accessible to the Merchant through the Glomo Platform. The Merchant shall notify Glomo in writing of any genuine invoice dispute as soon as practicable, and in any case no later than thirty (30) days from the invoice date. Glomo shall make good faith efforts to resolve any such disputes promptly.
The Merchant hereby authorises Glomo to set-off the whole or any part of the Merchant’s liability to Glomo under these Terms, including any chargeback amounts payable by the Merchant, against any funds, sums or other amounts credited to, or owing to, Merchant under these Terms. The Merchant agrees that Glomo may exercise the right of set-off, with prior notice to the Merchant. In the event such a set-off does not fully reimburse Glomo for the liability owed, the Merchant shall pay Glomo a sum equal to any shortfall.
REPRESENTATIONS AND WARRANTIES
The Merchant hereby represents and warrants that:
All the Merchant’s personnel representing Merchant are duly authorized to provide Glomo with all the information necessary to facilitate the Merchant’s use of the Services and as may be required by Glomo from time to time.
the Merchant shall comply with all Applicable Laws and guidelines issued from time to time by the Facility Providers. It is further clarified that the Services shall not be used for any other purpose and/or for illegitimate and illegal purposes.
The Merchant is providing the Products on the Merchant Platform in compliance with all the Applicable Laws, and has the requisite consents, approvals, certificates, agreements, registrations, and licenses to perform its obligations under these Terms.
The Merchant is duly authorized by all necessary corporate and organizational actions to bind the Merchant’s business to these Terms.
Its use of the Services does not facilitate the offer, sale or purchase of prohibited products or services as stipulated under Annexure B.
The Merchant shall not transfer, resell and the use right to use the Services to any other person or entity.
The Merchant shall access and use the Glomo Platform and Services only for lawful purposes.
The Merchant, or any natural person appointed to act on behalf of the Merchant, or any Beneficial Owner of the Merchant is not a Politically Exposed Person (“PEP”), nor directly or indirectly associated with a PEP, or (ii) if identified as a PEP or associated with a PEP, has disclosed such status in writing to the Glomo prior to execution of these Terms. The Merchant further agrees to promptly notify Glomo of any change in its PEP status during the term of these Terms. Capitalized terms used in this clause 4.8 but not defined in these Terms shall have the meaning ascribed to them under the International Financial Services Centres Authority (Anti Money Laundering, Counter-Terrorist Financing and Know Your Customer) Guidelines, 2022.
The Merchant has obtained the consents as required under the Applicable Law to collect and share its Customer’s information, including personal data, with Glomo (i) in connection with provision of Services to the Merchant, (ii) for the purposes of sharing such information with governmental authorities and Facility Providers as and when demanded under Applicable Laws, (iii) for the purpose of transaction tracking and fraud prevention, including conducting various screening of those Customers as per Glomo’s AML-CFT & KYC Policy.
Its purpose for use of the Services is that the one stipulated to Glomo at the time of signing up, and that all Transactions processed under these Terms shall be for the stated purpose only.
It shall notify Glomo in writing of any change to the nature of its business activities from the date of execution of these Terms, within 7 (seven) days of such a change taking place. Glomo reserves the right to suspend or discontinue the Services in whole or in part if such change is, in its sole discretion, likely to impact its regulatory compliance, risk exposure, or commercial viability.
It shall not use the Services for accessing, browsing, or investing in any Exchange-Traded Funds (ETFs) that directly invest in cryptocurrencies or related derivatives through our mobile application/platform.
MERCHANT OBLIGATIONS AND RESPONSIBILITIES
The Merchant agrees and undertakes that, prior to commencing any Services under these Terms, it shall furnish all documents as may be required by Glomo, at Glomo’s sole discretion, to enable due diligence of the Merchant and its business or activities as per the Merchant Onboarding Policy stipulated/laid out by Glomo from time to time. Glomo may share the KYC documents (or information therein) and other related documents with Facility Providers, Governmental Authorities, and/or law enforcement agencies as required under Applicable Laws, or with other third parties. The Merchant expressly consents to Glomo relying on the KYC documents provided by the Merchant for the provision of Services. The Merchant further acknowledges that Glomo reserves the right at any time to monitor, review, retain, and/or disclose information related to the Services as necessary to comply with Applicable Laws, legal processes, or governmental requests.
During the Term, Glomo shall have the right, at its sole discretion and/or as required under Applicable Laws, including but not limited to for adherence to Glomo’s obligations related to Screening, or pursuant to requests from Governmental Authorities or Facility Providers, to require the Merchant to provide (i) additional KYC documents; and/or (ii) KYC or other documents pertaining to the Merchant’s Customers or invoices. Failure by the Merchant to provide such documents upon request shall entitle Glomo to suspend the Services and/or withhold settlement of funds until such documents are provided to Glomo’s sole satisfaction.
Notwithstanding Glomo’s assistance in understanding the Guidelines, the Merchant expressly acknowledges and agrees that the Merchant is assuming the risk of compliance with all Applicable Laws. The Merchant further acknowledges that Glomo may also put limitations and restrictions on the Merchant’s use of the Glomo Platform, at their sole discretion. The Merchant is responsible for keeping itself up-to-date and compliant with all applicable Guidelines.
The Merchant acknowledges that the Services are of complex nature and require the intervention and assistance of a number of parties including the Facility Providers, pursuant to the foregoing, Glomo shall only be liable for acts or omissions which are solely and directly attributable to Glomo.
The Parties agree that Glomo is not responsible for delivery, after-sales service, Customer enquiries (including sales enquiries), technical support, maintenance, or any other obligations related to the Merchant’s Products. These remain the sole responsibility of the Merchant. The Merchant shall indemnify Glomo against any claims, expenses, or costs arising from such obligations.
Merchant shall be responsible to do reconciliation on a daily basis for all the Transactions processed. In case of discrepancies, You shall report to Glomo regarding such discrepancy within thirty (30) days upon the receipt of the funds. Glomo shall not be liable for any reconciliation issue if the same is highlighted by You to Glomo after such time.
As part of the Glomo registration process, the Merchant will create a username and password for the Merchant’s Payments Account. Upon successfully opening a Payments Account, the Merchant will receive an API key, which will allow the Merchant to integrate and access the Services. The Merchant is responsible for maintaining the confidentiality of the API Key, password and the Payments Account. The Merchant agrees not to disclose these credentials to any third party.
Any person to whom the Merchant gives its password or the API Key, will have full access to the Merchant’s account/payment information, and the Merchant shall assume all risk of loss resulting from any such access. All information and instructions received from the Merchant’s Payments Account will be deemed to have been authorized by the Merchant, and Glomo shall rely on its authenticity based on the use of the Merchant’s password. The Merchant will be responsible for all actions taken by anyone accessing the Services using the Merchant’s username and password.
The Merchant expressly authorizes Glomo to access the Merchant’s account information and payment information and submit the same further to any such party to whom it is required to be submitted for the purpose of providing Services to the Merchant, including the Facility Providers.
The Merchant shall promptly notify Glomo of any proposed or actual change in control, ownership, or key managerial personnel. Glomo reserves the right to suspend or terminate these Terms or any Service if, in its sole discretion, such change poses a regulatory, reputational, or operational risk.
TRANSACTION AUTHORIZATION AND SETTLEMENT
Glomo shall settle all Transactions into the Merchant’s Settlement Account, only after successful authorisation and authentication of a Transaction as per the process set by the respective Facility Providers.
Glomo may decline to authorise a Transaction where such Transaction has been declined by a Facility Provider, or any other third parties involved in provisioning of Services.
Glomo will settle or cause to be settled all Transactions subject to the successful reconciliation of all Transactions as available on the Glomo Platform. Glomo’s decision on the reconciliation shall be final and binding.
In respect of Transactions that are authorised, processed, and settled by Glomo, the Merchant will pay Glomo the Fees.
RISK MONITORING; UNUSUAL OR SUSPICIOUS TRANSACTIONS
In an effort to manage Glomo’s risk, Glomo shall monitor the Merchant’s Transactions and collection activity for high-risk practices or fraudulent transactions, as per Applicable Laws. Glomo may also engage third-party service providers to assist in these efforts and other elements of the Service. If Glomo believes there is suspicious or unusual activity, Glomo may withhold funds for Transactions that are deemed suspicious and temporarily or permanently suspend the Merchant’s access to the Service.
Notwithstanding anything to the contrary, Glomo shall have the right to immediately suspend the Services, place limits on the Transaction value, and withhold settlement of any monies or payments, without any liability to the Merchant, in the following events:
The Merchant breaches these Terms, any Applicable Law, or facilitates any unlawful or prohibited transactions including those in Annexure B
The Merchant’s Products infringe, or are suspected of infringing, intellectual property rights, copyrights, patents, trademarks, trade secrets, involve counterfeit goods, or materially differ from those declared during onboarding without Glomo’s prior written approval, or where the Merchant provided false or misleading onboarding information.
Glomo, in its sole discretion, determines that the Merchant’s activities involve high-risk transactions, suspicious circumstances, excessive disputes, refunds, chargebacks, or otherwise expose Glomo to unacceptable risk under its internal assessments or policies prepared in accordance with Applicable Law, including Chapter IV of the PS Regulations.
Glomo receives instructions from Facility Providers, Governmental Authorities, or law enforcement agencies to suspend the Services or , in whole or in part, whether or not an investigation or enquiry is pending into the Merchant’s activities.
Regulatory changes require Glomo, in its sole discretion, to suspend the Services.
Suspension or withholding of funds shall continue until the queries or information requested by Glomo pursuant to the above clause 7.2 are duly provided by the Merchants to Glomo’s satisfaction.
AUDIT AND INSPECTION
The Merchant agrees to periodic audits by Glomo’s internal and external auditors, as well as Facility Providers, Governmental Authorities, or law enforcement agencies, including but not limited to IFSCA (“Auditors”), to ensure compliance with Applicable Laws and the terms of these Terms. Upon request, the Merchant shall provide the Auditors access to all books, records, systems, and premises relating to Transactions under these Terms. Merchant shall retain records relating to the Transactions processed under these Terms for a minimum period of 10 (ten) years as per its obligations under Applicable Laws, from the relevant date of the order placed on the Merchant’s site, unless otherwise required by such Applicable Laws. Glomo shall endeavour to provide the Merchant with a 15-day notice unless a shorter notice is required by the Facility Providers, Governmental Authorities, or law enforcement agencies.
Suspicious transactions identified during Glomo’s monitoring may be reported to the Financial Intelligence Unit – India (FIU-IND) in accordance with the AML, CTF, and KYC Regulations Guidelines and the Prevention of Money Laundering Act, 2002 (PMLA), as applicable.
If any audit reveals material non-compliance attributable to Merchant, Merchant shall bear the reasonable costs of such audit and promptly implement corrective measures as directed by Glomo or relevant authorities. Information obtained during audits shall be treated as confidential, except where disclosure is required by Applicable Law. Glomo reserves the right to suspend Services or settlements pending completion of any audit or remediation.
SECURITY
The Merchant is solely responsible for maintaining the security of its devices, credentials, and compliance with the security procedures set out in these Terms. Glomo shall not be liable for any loss, damage, or unauthorized access resulting from the Merchant’s failure to comply with such procedures, or from the loss, theft, or compromise of the Merchant’s devices or login information.
Glomo implements industry-standard technical and organizational measures, including ISO 27001-certified practices, to protect data from unauthorized access, loss, or alteration. However, the Merchant acknowledges that no system can be guaranteed secure, and provides its data at its own risk.
Data transmitted via the Glomo Platform is encrypted to enhance security. Nevertheless, the Merchant acknowledges that data transfers over mobile networks and the internet are inherently vulnerable and may be intercepted, despite Glomo’s security measures.
Glomo may introduce additional or modified security procedures from time to time. The Merchant agrees to comply with all such procedures and acknowledges that they are commercially reasonable. To the extent permitted by law, the Merchant assumes the risk of unauthorized transactions where Glomo has adhered to its security procedures.
Each Party shall exercise good faith and reasonable care in performing its obligations. The Merchant agrees to: (i) use the Glomo Platform responsibly; (ii) comply with security protocols; (iii) promptly communicate issues; and (iv) regularly review its transaction activity for errors.
Glomo makes no representation that its Glomo Platform is compatible with all devices or internet service providers. The Merchant is responsible for ensuring compatibility with Glomo’s system requirements.
OWNERSHIP AND INTELLECTUAL PROPERTY RIGHTS
Each Party retains all rights, title, and interest in its own Intellectual Property and its product and service names, logos, and registered or unregistered trademarks.
All Intellectual Property related to the Services, including the Glomo Platform and any materials developed, conceived, or derived by Glomo or its Affiliates under these Terms, shall remain the exclusive property of Glomo or its Affiliates.
Glomo grants the Merchant a limited, non-exclusive, non-transferable, and revocable license during the Term to use secret keys, Glomo Platform, and related software solely for integration with the Services. The Merchant shall not share, sublicense, or provide access to any third party and shall remain responsible for any unauthorised access or use.
The Merchant shall not, nor permit any third party to: (i) access, monitor, copy, scrape, reproduce, modify, dismantle, decompile, reverse-engineer, create derivative works from, publicly display, republish, upload, post, transmit, resell, distribute, or commercially exploit any part of the Services, Glomo’s systems, or materials therein, except as expressly permitted by Glomo; (ii) transfer any rights granted under these Terms; (iii) bypass, disable, or circumvent security or technical limitations of the Services; (iv) introduce viruses, malware, or any harmful code, or engage in any activity that disrupts, overloads, or interferes with the proper functioning of the Services or Glomo’s infrastructure; or (v) allow any third party to use the Services via rental, lease, timesharing, or similar arrangements. Any use of the Services other than as specifically authorized herein may result in, among other things, termination or suspension of the Merchant's right to use the Services. Such unauthorized use may also violate applicable laws, including without limitation copyright and trademark laws and applicable communications regulations and statutes.
Unless explicitly stated herein, nothing in these Terms shall be construed as conferring any license to intellectual property rights, whether by estoppel, implication or otherwise. This license is revocable at any time, and will continue until such time as the Merchant ceases to use or access the Services or the Merchant's use or access to the Services is terminated by Glomo.
Glomo may conduct analytics on data arising from the provision of Services and shall retain ownership of any aggregated and anonymised results, which may be used for its business purposes in compliance with Applicable Laws. The Merchant releases Glomo from any liability arising from such use.
CONFIDENTIALITY
Each Party (“Receiving Party”) agrees to keep confidential and not disclose or use, except in performance of its obligations under these Terms, any non-public information, technical data, or know-how, including but not limited to financial data, business plans, software, source code, APIs, customer data, pricing, and Transaction details (“Confidential Information”) disclosed by the other Party (“Disclosing Party”) that is designated as confidential or that, by its nature, should reasonably be understood to be confidential.
The Receiving Party shall use the same degree of care to protect the Disclosing Party’s Confidential Information as it uses to protect its own confidential information of a similar nature, but in no event less than reasonable care. Confidential Information shall not include information that: (i) is or becomes publicly known through no breach of these Terms; (ii) is independently developed without use of the Disclosing Party’s Confidential Information; or (iii) is lawfully received from a third party without restriction.
The Receiving Party may disclose Confidential Information only to those of its employees, agents, affiliates, Facility Providers, or professional advisors who have a need to know and are bound by confidentiality obligations at least as protective as those set out in these Terms. The Receiving Party may also disclose Confidential Information where required under Applicable Law or order of a court or governmental authority, provided it gives the Disclosing Party prior notice (to the extent permitted) to seek protective relief.
The confidentiality obligations under this clause shall survive termination or expiration of these Terms for a period of five (5) years.
PRIVACY
Upon acceptance of these Terms, the Merchant confirms that it has read, understood and accepted Glomo’s Privacy Policy.
The Merchant shall notify Glomo in writing, without undue delay and in any event within forty-eight (48) hours of becoming aware, of any actual or suspected breach of Personal Data processed in connection with the Services. Such notice shall include all relevant details of the breach, mitigation measures taken, and cooperation required by Glomo to comply with its legal or regulatory obligations.
TERMINATION
These Terms shall be effective as of the Effective Date and shall continue through the Term. Services commence on the start date specified in these Terms or the Merchant’s use of the Services, whichever is earlier, and shall continue until these Terms are terminated by either Party in accordance with the terms of these Terms. .
Either Party may terminate these Terms in the event that:
the other Party breaches these Terms and does not cure such breach within fifteen (15) days of such notice.
Immediately in the event the other Party becomes the subject of a petition in bankruptcy or any other proceeding relating to insolvency, receivership, liquidation or assignment for the benefit of creditors.
Glomo may terminate these Terms immediately in case of breach of these Terms, if such breach is not capable of being cured as per clause 13.2 above, or Applicable Laws by the Merchant. Glomo will not be liable to the Merchant for the termination of the Services or for any consequence arising out of termination of the Services.
Termination of these Terms shall not affect any accrued rights or liabilities of either Party, nor shall it affect the coming into force or the continuance in force of any provision of these Terms which is expressly or by implication intended to come into or continue in force on or after such termination.
Effect of Termination - Upon termination, the Merchant must uninstall any copies of the Services from the Merchant’s computer and/or mobile or other devices. Glomo will not be liable to the Merchant for compensation, reimbursement, or damages in connection with the Merchant’s use of the Services, or any termination or suspension of the Services. Any termination of these Terms does not relieve the Merchant of any obligations to pay any fees or costs accrued prior to the termination and any other amounts owed by the Merchant to Glomo as provided in these Terms.
INDEMNIFICATION
The Merchant agrees to defend, indemnify and hold harmless Glomo, its independent contractors, acquiring banks, and directors, employees and agents, from and against any claims, damages, costs, liabilities and expenses (including, but not limited to, reasonable attorneys’ fees) arising out of or related to:
any actual or alleged breach of these Terms or any other terms, policies or guidelines provided by Glomo;
any actual or alleged violation of applicable laws or rules of any other payment participants in the Transaction;
the Merchant’s fraud, negligence or wilful misconduct;
the Merchant’s wrongful or improper use of the Services; or
the Merchant’s violation of the rights of any third party.
LIMITATION OF LIABILITY
Neither Party shall be liable to the other for any indirect, incidental, consequential, punitive, special, or exemplary damages, including without limitation loss of use, loss of profits, or loss of data, whether arising in contract, tort (including negligence), or otherwise, in connection with the use or inability to use the Services. This includes damages arising from reliance on information from Glomo or from errors, defects, viruses, delays, interruptions, failures of performance, or unauthorized access to Glomo’s systems.
In no event shall Glomo’s total liability, whether arising in contract, warranty, tort (including negligence), strict liability, or otherwise, exceed the total Fees actually paid by the Merchant to Glomo for the Services giving rise to the claim.
The Services are provided on an “as is” and “as available” basis. To the fullest extent permitted by law, Glomo disclaims all warranties, express, statutory, or implied, including any warranties of merchantability, fitness for a particular purpose, non-infringement, or uninterrupted or error-free operation.
If the Merchant is dissatisfied with the Services, the Merchant’s exclusive remedy is to stop using the Services. Glomo’s sole obligation in the event of any interruption or loss of access to the Services is to use reasonable efforts to restore access as promptly as practicable.
Disclaimer: Glomo provides its Services exclusively from and within the International Financial Services Centre (IFSC) located in GIFT City, India. Nothing contained in these Terms shall be construed to imply or represent that Glomo is providing services, soliciting business, or offering products outside the jurisdiction of GIFT IFSC. These Terms and all Services contemplated herein are intended solely for use within the regulatory framework applicable to the GIFT IFSC and shall not be interpreted to suggest the availability or promotion of such services in any other jurisdiction.
GOVERNING LAW AND JURISDICTION
These Terms will be governed by and construed in accordance with the laws of India. The Merchant agrees that any legal action or proceedings arising out of these Terms may be brought exclusively in the competent courts/tribunals having jurisdiction in Gandhinagar, Gujarat in India and irrevocably submit themselves to the jurisdiction.
THIRD PARTY SERVICES AND LINKS TO OTHER WEB SITES
Glomo may display third-party content or advertisements through the Services and may provide links that will take the Merchant to web pages and content of third parties that are not under Glomo’s control (collectively, “Third Party Content”). Glomo makes no representation, warranty, promise or guarantee whatsoever concerning any aspect of any Third-Party Content, including without limitation regarding its accuracy or completeness. The Merchant agrees that the Merchant’s use of all Third-Party Content is entirely at the Merchant’s own risk, and Glomo is not responsible or liable in any manner for any Third Party Content and undertake no responsibility to update or review any Third Party Content.
MISCELLANEOUS
Assignment - These Terms, and any rights and licenses granted hereunder, may not be transferred or assigned by either Party without prior written consent of the other Party.
Force Majeure – Neither Party will be liable for failure to perform under these Terms as a result of any event of force majeure like acts of God, fire, wars, sabotage, civil unrest, labour unrest, action of statutory authorities or local or state, central governments, change in laws, rules and regulations, affecting such Party’s performance.
Waiver - Unless otherwise expressly stated in these Terms, the failure to exercise or delay in exercising a right or remedy under these Terms will not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy under these Terms will prevent any further exercise of the right or remedy or the exercise of any other right or remedy.
Survival Of Provisions - Clauses 5, 11, 13.5, 15, 16, and 18 shall survive termination/expiry of these Terms. Clause 14 shall survive termination of these Terms for a period of one year from the date of termination.
Severability - If any provision of these Terms is or becomes, in whole or in part, invalid or unenforceable but would be valid or enforceable if some part of that provision was deleted, that provision will apply with such deletions as may be necessary to make it valid. If any court/tribunal of competent jurisdiction holds any of the provisions of these Terms unlawful or otherwise ineffective, the remainder of these Terms will remain in full force and the unlawful or otherwise ineffective provision will be substituted by a new provision reflecting the intent of the provision so substituted.
Non-Exclusivity - It is agreed and clarified that these Terms is on a non-exclusive basis and the Parties are at liberty to enter into similar terms and agreements with others.
Notices - All notices, requests, demands, waivers and other communications required or permitted to be given under these Terms will be in writing to be sent to the addresses captured in the Merchant Acceptance Form above.
Specific terms for Merchants referred by a Glomo Platform Partner
“Glomo Platform Partner” shall refer to an e-commerce or similar marketplace enabling Merchants to connect with Customers over a website or mobile application, who refers such Merchants to become a user of Glomo’s services.
The Merchants who are referred leads of a Glomo Platform Partner may be liable to pay to Glomo such fees as communicated to them by their respective Glomo Platform Partner.
Glomo Platform Partner shall remain solely liable and responsible for all losses, claims, liabilities, and expenses arising out of or relating to any incorrect, incomplete, or misleading communication or disclosure of Fees by the Glomo Platform Partner to the Merchant, including any claim, action, or demand initiated by the Merchant against Glomo in connection with such communication or disclosure.
ANNEXURE A
SCOPE OF SERVICES
SCHEDULE 1 – PAYMENT COLLECTION SERVICES
Chargebacks and Refunds
The Merchant acknowledges and agrees that Customers or Facility Providers may initiate chargebacks in respect of Transactions, including disputes regarding unauthorized Transactions, non-receipt of goods or services, or other reasons permitted under the applicable rules of card networks or Facility Providers.
The Merchant shall be solely responsible for all chargebacks, fines, penalties, and other costs arising in connection with disputed Transactions. Glomo shall be entitled to deduct such amounts from any funds due to the Merchant or to recover such amounts directly from the Merchant.
Glomo shall notify the Merchant of any chargeback received and shall provide the Merchant a reasonable period (not exceeding 7 (seven) calendar days) to submit evidence to dispute the chargeback. Failure to provide such evidence within the specified time frame shall entitle Glomo to treat the chargeback as valid.
Glomo reserves the right to withhold a reserve amount, determined at its sole discretion, from settlement payouts to cover potential future chargebacks or related liabilities.
If these Terms is terminated, Glomo may, during the notice period, withhold a portion of each settlement, calculated using a Chargeback Ratio as defined below. These withheld funds will be held for one hundred and twenty (120) days after the termination and used to cover any Chargebacks. After resolving all Chargebacks, any remaining withheld funds will be promptly released to the Merchant. The “Chargeback Ratio” means the ratio of total Chargeback amounts to total Transaction amounts settled during the term of these Terms.
The Merchant shall be solely responsible for processing and fulfilling refunds to Customers. Glomo shall not be liable to issue refunds on behalf of the Merchant unless otherwise expressly agreed in writing. The Merchant shall maintain a clear and lawful refund policy in accordance with Applicable Laws.
Instant Settlement
2.1 Where Instant Settlement is availed by the Merchant, Glomo shall endeavour to transfer settlement funds to the Merchant’s designated account on a near real-time basis after successful completion of Transactions, subject to:
Applicable cut-off times and banking network availability;
Satisfactory completion of risk checks and fraud monitoring by Glomo;
No breach of these Terms or applicable laws by the Merchant.
2.2 Glomo does not guarantee the processing time for Instant Settlement, and delays may occur due to banking systems, technical issues, or regulatory requirements.
2.3 Fees for Instant Settlement shall apply as specified in the applicable Schedule.
2.4 Glomo reserves the right to suspend or restrict Instant Settlement services at its discretion, including in response to suspected fraud, chargebacks, or regulatory requirements.
Banking hours for settlement
Settlement of funds by Glomo shall be processed during banking hours in GIFT IFSC, on Business Days (excluding public and banking holidays in GIFT IFSC or in the jurisdiction of the Merchant’s bank).
Transactions completed outside of banking hours shall be settled on the next available Business Day, unless otherwise agreed in writing.
Delays in settlement arising from bank holidays, system downtime, or other force majeure events shall not constitute a breach by Glomo.
Settlement times for cross-border Transactions may vary based on intermediary banks, currency cut-off times, and regulatory checks.
Enablement of Services
Glomo and Merchant agree that availability of Payment Links or checkout page can be disabled for certain Customers/ Products as per mutual agreement between the Parties.
Terms and Conditions for LRS Flow
For LRS (Liberalised Remittance Scheme) specific terms and conditions, please click here.
Specific Terms for Merchants using Cards as a payment method
In order to facilitate Cards as one of the payment methods for the Merchant to accept payments from their Customer, Glomo has appointed certain agents, viz. Glomo Payments FZCo and Innovate Technologies FZCO ("Cards Processor”). The Merchant hereby agrees that:
Merchant will not submit for payment, any transaction they know or reasonably suspect to be illegal;
Glomo will not accept from a Merchant, any transaction Glomo know or reasonably suspect to be illegal;
on an ongoing basis, the Merchant must promptly provide Glomo with the current address of each of its offices, all “doing business as (“DBA”) names used by the Merchant, and a complete description of goods sold and services provided to the Customers;
the Card Schemes may at any time, immediately and without advance notice, prohibit the Merchant from using any of the names, logos, symbols and trademarks under the Card Schemes (hereinafter “Scheme Marks”) for any reason;
the Card Schemes have the right to enforce any provision of the Card Scheme Rules and to prohibit Merchant and/or its payment aggregator from engaging in any conduct the Card Schemes deem could injure or could create a risk of injury to the Card Schemes, including injury to reputation, or that could adversely affect the integrity of the Interchange System, the Card Schemes Confidential Information as defined in the Card Scheme Rules, or both;
the Merchant will not take any action that could interfere with or prevent the exercise of this right by the Card Schemes;
Glomo can provide any information on the transaction or the Merchant, as it may be relevant, to the Card Process, and/or the Merchant agrees for the Card Processor use, for the purposes of fulfilling the Card Processor’s obligations under these Terms or as otherwise required by us based on the requirements of the Card Schemes, information, whether confidential or otherwise, regarding that the Merchant that the Card Processor may, from time to time, request within seven (7) Banking Days of us making that request of Glomo;
to comply with PCI DSS, that the Card Schemes require it to comply with PCI and that it shall enable the Card Processor to carry out an audit of the Merchant's systems.
the Merchant shall co-operate with Glomo and the Card Processor in respect of any issues arising out of a breach or potential breach of security in relation to the holding of confidential data; and
the Merchant will comply with all Applicable Laws.
the Merchant acknowledges and agrees that the Card Processor may retain or withhold settlement of any sums due by Glomo or any Merchant if these Terms are breached as a result of the Merchant's breach of its obligations under these Terms
In the event of any inconsistency between any provision of the agreement between the Merchant and the Card Scheme Rules, the Card Scheme Rules will take precedence.
Merchant has understood and agrees to the terms and conditions of the Card processors here.
Glomo may terminate the Merchant Contract immediately if:
the Card Processor or the Card Schemes request Glomo to do so;
We terminate these Terms with Glomo for any reason;
the Card Schemes de-register Glomo as an IPSP and/or a payment aggregator or if the Card Processor ceases to be a Member of either Scheme for any reason or if the Card Processor fails to have a valid License with either Scheme to use any Mark accepted by the Merchant; in such circumstances the Merchant Contract must provide for automatic termination;
the Merchant’s activity is deemed, at Glomo discretion or at the direction of us or the Card Schemes, to be fraudulent or otherwise wrongful or in violation of the Card Scheme Rules;
The percentage of fraudulent transactions submitted by any Merchant or the number of Chargebacks in relation to any Merchant on Glomo be in excessive of 0.2%.
Merchant submits for processing, transactions on behalf of any third party entity other than that agreed between Parties;
the Merchant materially alters its website content without the payment aggregator's prior written consent or changes its business or alters its business model during the term of the Merchant Contract or if there is a direct or indirect change of Control of the Merchant or any parent company of the Merchant; and
for twelve (12) consecutive months the Merchant fails to submit any transactions or no activity is recorded on the Merchant’s Terminal Account.
Glomo is responsible for the Card acceptance policies and procedures of the Merchant, and may require any changes to its website or otherwise that Glomo, or the Card Processor deem necessary or appropriate to ensure that the Merchant remains in compliance with the Card Scheme Rules governing the use of the Scheme Marks.
The Merchant acknowledges and agrees:
to comply with all applicable Card Scheme Rules, as amended from time to time;
that the Card Schemes are the sole and exclusive owner of the Scheme Marks;
not to contest the ownership of the Scheme Marks for any reason;
to only submit transactions to Glomo that are in respect of goods and/or services provided by the Merchant to the Card Holder;
to ensure that it prominently and unequivocally informs a Card holder of the identity of the Merchant at all points of interaction, so that the Card holder can readily distinguish the Merchant from any other third party, such as a supplier of products or services to the Merchant and will ensure that its website:
prominently displays the name of the Merchant;
prominently identifies the name of the Merchant as displayed on the website as both the Merchant and as the name that will appear on the Card Holder statement; and
display the Merchant name and information as prominently as any other information depicted on the website, other than the images of the products or the services being offered, in accordance with the Card Scheme Rules.
and adhere to the checklist as provided here, as provided by the Card Processor.
vi. that it shall not:
undertake transactions for anything other than the genuine purchase of the goods and/or services that the Merchant supplies;
discriminate against the use of Cards in any way;
split a transaction into two or more transactions;
accept transactions relating to goods and/or services which fall outside the description of a Merchants Business without prior written approval of the Card Processor;
accept a transaction or present transaction Data for processing which was not undertaken directly between the Merchant and the Card Holder;
accept or process transactions in order to give Card Holders cash unless the processor have specifically given prior written consent to the Card Processor o do so;
accept any transaction using any Card issued in Glomo or the Merchants name, or related to the nominated bank account or of a partner in, or director or other officer of Glomo or the Business of the Merchant, or of the spouse or any member of the immediate family or household of any such person;
submit transaction data which Glomo or Merchant know or ought to have known is illegal; or
Refund transactions to a Card which was not originally used to make such transactions, and a Merchant must not, under any circumstances, accept money from a Card Holder in connection with processing a refund to the Card Holder's Account.
SCHEDULE 2 – PAYOUT SERVICES
Specific Terms
Description of Payout Services
1.1. Under this Schedule, Glomo shall enable the Merchant to initiate outward payment instructions (“Payout Instructions”) from its Payments Account to Beneficiaries designated by the Merchant, through the Cross-Border Money Transfer Services and/or Account Issuance Services provided by Glomo under the PS Regulations.
1.2. Payout Services shall be accessible via the Glomo Platform, including through the API or dashboard, as applicable.
1.3. The Merchant acknowledges that Payout Services are provided under Glomo’s authorisation as a Payment Service Provider under the PS Regulations and shall be used solely for the purposes specified in this Schedule.
Pre-Funding Requirements
2.1. The Merchant shall ensure that its Payments Account maintains sufficient funds to cover all Payout Instructions initiated, including applicable Fees and taxes, prior to submission of any such Payout Instruction.
2.2. Glomo shall have no obligation to process any Payout Instruction where the Merchant’s Payments Account does not hold sufficient funds at the time of processing.
2.3. The Merchant acknowledges that funds in its Payments Account may be subject to holds, reserves, or set-offs as permitted under these Terms, and it is the Merchant’s sole responsibility to maintain adequate balance accounting for such deductions.
2.4. The Merchant may fund its Payments Account by way of inward remittances or from settlement proceeds credited to its Payments Account, subject to Applicable Laws.
Payout Instructions
3.1. The Merchant shall submit Payout Instructions through the Glomo Platform, specifying the following information (as applicable):
the Beneficiary’s full legal name and registered address;
the Beneficiary’s bank account details, including account number, bank name, bank address, and applicable routing codes (SWIFT/BIC, IBAN, IFSC, or such other identifier as required);
the payout amount and currency;
the purpose of payment, as required under Applicable Laws; and
any additional information required by Glomo, Facility Providers, or under Applicable Laws.
3.2. Each Payout Instruction submitted through the Glomo Platform shall be deemed a binding instruction from the Merchant. The Merchant is solely responsible for the accuracy and completeness of all information contained in each Payout Instruction. Glomo shall not be liable for any loss or delay arising from incorrect or incomplete information provided by the Merchant.
3.3. Payout Instructions, once submitted, cannot be amended or cancelled unless Glomo has not yet initiated processing. The Merchant shall notify Glomo immediately in writing if it seeks to amend or cancel a Payout Instruction; however, Glomo shall have no obligation to accommodate such request where processing has commenced.
3.4. Glomo reserves the right to require additional verification or authorisation for Payout Instructions above certain value thresholds or for certain categories of Beneficiaries, as notified to the Merchant from time to time.
3.5. The Merchant agrees that Glomo shall have no liability for any delays in processing Payout Instructions arising from the actions or omissions of Facility Providers, correspondent banks, or any other third-party intermediary.
3.6. Glomo shall not be liable for delays attributable to Facility Providers, correspondent banks, regulatory holds, sanctions screening, technical failures, banking holidays, or any event outside Glomo’s reasonable control.
3.7. Payout Instructions received after the applicable cut-off time as notified by Glomo from time to time shall be treated as received on the next Business Day.
3.8. Settlement of funds to the Beneficiary’s bank account shall be subject to the receiving bank’s own processing times and compliance procedures, which are outside Glomo’s control and shall not constitute a breach by Glomo.
Beneficiary Verification and AML Obligations
4.1. The Merchant is solely responsible for conducting its own due diligence on each Beneficiary before submitting a Payout Instruction, including verification of the Beneficiary’s identity, legitimacy of the underlying transaction, and compliance with Applicable Laws.
4.2. Glomo shall conduct sanctions screening and such other AML and CFT checks as required under the AML, CTF, and KYC Regulations and Applicable Laws prior to processing each Payout Instruction. Glomo reserves the right to decline or hold any Payout Instruction that triggers a regulatory alert or fails to satisfy Glomo’s compliance requirements, without incurring any liability to the Merchant.
4.3. The Merchant warrants that each Payout Instruction represents a bona fide commercial transaction, and that the Merchant is not using the Pay-Out Services to facilitate:
payments to or for the benefit of any person or entity subject to sanctions imposed by the Ministry of Home Affairs, IFSCA, the United Nations Security Council, OFAC, or any applicable sanctions authority;
money laundering, terrorist financing, or any other unlawful activity; or
any Transaction prohibited under Annexure B or Applicable Laws.
4.4. Where Glomo is required to share Beneficiary information or Transaction details with Governmental/Regulatory Authorities or Facility Providers under Applicable Laws, the Merchant consents to such disclosure and shall cooperate with Glomo in providing any additional information required.
4.5. The Merchant shall, upon Glomo’s request, provide documentary evidence supporting the purpose and legitimacy of any Payout Instruction within the time period specified by Glomo, failing which Glomo reserves the right to decline or suspend the relevant Payout Instruction.
Failed, Returned, or Rejected Payouts
5.1. A Payout Instruction shall be deemed to have failed where:
the Beneficiary’s bank account details are incorrect, invalid, or inactive;
the Beneficiary’s bank rejects or returns the transfer;
the Payout Instruction fails applicable compliance or sanctions screening conducted by Glomo or any Facility Provider;
there are insufficient funds in the Merchant’s Payments Account at the time of processing; or
the Payout Instruction is declined by Glomo, a Facility Provider, or a Governmental/Regulatory Authority pursuant to Applicable Laws.
5.2. Glomo shall notify the Merchant of any failed or returned Payout Instruction through the Glomo Platform or by email, as applicable. The Merchant shall be responsible for investigating and resolving the cause of failure.
5.3. Where funds in respect of a failed or returned Payout Instruction are received back by Glomo, Glomo shall credit such funds to the Merchant’s Payments Account, net of any charges levied by the returning bank or Facility Provider, within a reasonable period of Glomo’s receipt of the returned funds.
5.4. Glomo shall not be liable for any loss, cost, or damage arising from failed, returned, or rejected Payout Instructions, including any foreign exchange losses arising from currency fluctuation during the return process.
5.5. A processing fee as set out in the applicable Schedule shall be applicable to failed or returned Payout Instructions, regardless of the cause of failure.
Transaction Limits and Controls
6.1. Glomo may, at its discretion, impose per-transaction, daily, monthly, or aggregate limits on Payout Instructions, as notified to the Merchant from time to time via the Glomo Platform.
6.2. Glomo may vary, suspend, or reinstate transaction limits at any time, with reasonable notice to the Merchant except where immediate variation is required in response to risk assessments, regulatory requirements, or instructions from Facility Providers.
6.3. The Merchant shall not attempt to circumvent applicable transaction limits by splitting Payout Instructions or through any other means. Any such attempt shall be deemed a breach of these Terms and may result in suspension of Pay-Out Services.
Glomo’s Right to Withhold, Reject, or Suspend
7.1. Glomo shall have the right, exercisable without prior notice and without liability to the Merchant, to withhold, reject, reverse, or suspend processing of any Payout Instruction, including all pending Payout Instructions, if:
the Merchant is in breach of these Terms or any Applicable Laws;
Glomo reasonably suspects that a Payout Instruction is related to fraud, money laundering, terrorist financing, or any other illegal activity;
Glomo receives instructions from IFSCA, any Governmental/Regulatory Authority, or a Facility Provider to do so;
the Merchant has an outstanding liability to Glomo under these Terms and Glomo exercises its right of set-off under these Terms;
the Merchant’s risk profile, as determined by Glomo’s internal risk assessment, warrants suspension; or
there is a dispute, chargeback, or regulatory investigation pending in respect of the Merchant’s Transactions.
7.2. Glomo shall use reasonable endeavours to notify the Merchant of any suspension under this clause, except where notification is prohibited by Applicable Law or by instructions of a Governmental/Regulatory Authority.
7.3. The exercise of Glomo’s rights under this clause shall be without prejudice to any other rights or remedies available to Glomo under these Terms or under Applicable Laws.
Cross-Border Payout Obligations
8.1. Cross-border Payout Instructions shall be subject to applicable foreign exchange regulations, remittance rules, and reporting requirements of the relevant jurisdictions, including without limitation IFSCA regulations, FEMA, and any requirements imposed by the destination country’s financial regulatory authority.
8.2. The Merchant represents and warrants that each cross-border Payout Instruction is in compliance with all applicable foreign exchange laws and that the underlying transaction is a bona fide commercial transaction.
8.3. Glomo may require the Merchant to submit supporting documentation, including invoices, contracts, or regulatory approvals, for cross-border Payout Instructions above specified thresholds or as required under Applicable Laws.
8.4. Currency conversion for cross-border Payout Instructions shall be effected by Glomo at the prevailing exchange rate at the time of processing, which may include a spread or markup as specified in the applicable Schedule. The Merchant bears all foreign exchange risk associated with Payout Instructions.
8.5. Glomo shall not be liable for any taxes, duties, levies, or withholding obligations imposed by the destination jurisdiction on amounts received by the Beneficiary, which shall be the sole responsibility of the Merchant and/or the Beneficiary.
Schedule 3
KYC Services
1. Definitions
i. “KYC Verification Services” will include, unless otherwise described in the above schedule –
(a) Electronic KYC (eKYC), Central KYC (cKYC) check, Aadhaar Offline XML, DigiLocker, Video KYC, and ID OCR verification.
(b) Liveness, face match, and geo-tagging checks.
(c) AML, sanctions, and PEP screening.
(d) Document signing and digital storage.
(e) Retrieval of verification reports and audit logs via API or Glomo dashboard.
ii. “Aadhaar Act” means the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016, including all rules, regulations, and circulars issued thereunder, as amended from time to time.
iii. “Digital Personal Data Protection Act” or “DPDPA” means the Digital Personal Data Protection Act, 2023, and includes all rules, regulations, and notifications promulgated or issued thereunder, as amended from time to time.
iv. “KYC Data” means any Personal Data, sensitive personal data, identity documents, biometric data, Aadhaar-based authentication data, eKYC data, Video KYC recordings, and verification outputs collected, processed, stored, or generated in connection with the KYC Verification Services, including data retrieved from DigiLocker, UIDAI databases, and Central KYC Registry.
v. “KYC Service Provider” means any third-party technology service provider engaged by Glomo from time to time to facilitate the provision of KYC Verification Services, including the processing of KYC Data and access to government or regulated databases on Glomo’s behalf.
vi. “Purge Request” shall have the meaning ascribed to it in Clause 6(v) of this Schedule.
vii. “UIDAI” means the Unique Identification Authority of India, the statutory authority established under the Aadhaar Act.
viii. “UIDAI Requirements” means the Aadhaar Act, and all circulars, directions, guidelines, and notifications issued by UIDAI from time to time governing the authentication, use, storage, and onward sharing of Aadhaar-based data.
2. Description of Services
i. Glomo shall enable Merchants to access identity and verification services for their eligible Customers (“End Users”) through the Glomo Platform using APIs, SDKs, or dashboards provided by Glomo and its licensed third-party service providers, in adherence with Applicable Law, including the AML, CTF, and KYC Regulations.
ii. Glomo will provide a Merchant dashboard and/or API to initiate verification requests, track status, and access verification outcomes.
iii. The KYC Verification Services are provided solely as a facilitation layer. Glomo does not act as the Merchant’s agent or representative for the purposes of customer onboarding or compliance certification.
iv. Glomo shall provide the Merchant with not less than thirty (30) days’ prior written notice (“Service Discontinuation Notice”) before discontinuing or making any material modification to any Service listed in this Schedule, except where:
(a) a shorter notice period is required by an order, direction, or regulatory requirement of a Governmental/Regulatory Authority; or
(b) Glomo’s KYC Service Provider terminates or withdraws the relevant upstream service with less than thirty (30) days’ notice, in which case Glomo shall notify the Merchant as soon as reasonably practicable after Glomo becomes aware of such termination or withdrawal.
v. Upon receipt of a Service Discontinuation Notice, the Merchant shall have the right to terminate this Agreement with respect to the affected Services upon written notice, without penalty, where the Merchant does not wish to continue using any substitute or replacement service offered by Glomo.
vi. Where Glomo is unable to continue providing KYC Verification Services owing to the termination or suspension of its agreement with a KYC Service Provider through no fault of Glomo, such inability shall not constitute a breach of this Agreement. Glomo shall use commercially reasonable efforts to procure alternative KYC services and restore the affected KYC Verification Services within a reasonable period. In the event Glomo is unable to restore the affected KYC Verification Services within sixty (60) days of such suspension or termination, either Party may terminate this Agreement with respect to the affected Services upon thirty (30) days’ written notice without penalty.
3. Scope of Responsibilities
3.1 Glomo shall be responsible to undertake the below activities:
i. Integrate and maintain the KYC verification APIs and systems, ensuring continuity and regulatory adherence.
ii. Retain and process KYC data as a data processor in compliance with all Applicable Laws, including IFSCA (AML, CTF, and KYC) Regulation, Digital Personal Data Protection Act, 2023, Prevention of Money Laundering Act, 2002, and Master Direction - Know Your Customer (KYC) Direction, 2016 of the Reserve Bank of India.
iii. Provide service continuity and escalation support in accordance with the Service Level Agreement (Annexure C).
iv. Where permitted, Glomo shall apply IP-jurisdiction validation, debit-freeze, and proof-of-address verification for NRI customers in accordance with the AML, CTF, and KYC Regulations.
3.2 Merchant shall be responsible to undertake the below activities:
i. Obtain explicit and verifiable consent from each Customer authorizing Glomo (and its verification partners) to perform KYC verification on the Merchant’s behalf. Merchants must furnish relevant documentation and Customer consents within timelines specified by Glomo.
ii. Include appropriate disclosure and consent language in its Terms of Use and Privacy Policy.
iii. Submit only accurate, lawful, and complete Customer data and documents.
iv. Download and securely store verification results within the statutory retention period, and call for deletion (purging) when such period expires.
v. Not reuse or resell KYC data, verification outputs, or documents for any unauthorized purpose.
vi. Cooperate with any regulatory, audit, or compliance enquiry initiated by Glomo or its verification partners.
vii. Without prejudice to the generality of the definition of “Data Protection Legislation” under this Agreement, the Merchant expressly acknowledges that the Digital Personal Data Protection Act applies to the collection, processing, storage, and use of Personal Data of individuals in India in connection with the KYC Verification Services. To the extent the Merchant constitutes a “Data Fiduciary” within the meaning of the Digital Personal Data Protection Act, the Merchant shall:
(a) maintain valid and documented consent records for each individual (“Data Principal”) whose Personal Data is processed through the KYC Verification Services, in a form that is auditable and available to Glomo upon request;
(b) establish and maintain a mechanism to receive and respond to Data Principal requests, including requests for access, correction, erasure, and nomination, in accordance with the timelines and procedures prescribed under the Digital Personal Data Protection Act;
(c) notify Glomo promptly, and in any event within forty-eight (48) hours, where a Data Principal exercises a right to erasure under the Digital Personal Data Protection Act in relation to KYC Data held by Glomo or its KYC Service Providers, to enable Glomo to process the deletion request through the applicable upstream channels; and
(d) comply with all obligations applicable to Data Fiduciaries under the Digital Personal Data Protection Act and rules promulgated thereunder, as these come into force from time to time.
viii. AADHAAR and UIDAI Compliance Obligations
(a) The Merchant acknowledges that certain KYC Verification Services are facilitated using Aadhaar-based authentication, which is subject to UIDAI Requirements. The Merchant shall, in connection with its use of any Aadhaar-based service under this Agreement, comply with all UIDAI Requirements applicable to requesting entities and end-users, as amended or updated from time to time.
(b) The Merchant shall not store, reproduce, display, or otherwise retain the Aadhaar number of any individual in full. Where retention of an Aadhaar number is required under Applicable Laws, only the masked or redacted form (displaying no more than the last four digits of the Aadhaar number) shall be stored or used.
(c) The Merchant shall use Aadhaar-based authentication data, including eKYC data and Aadhaar Offline XML, solely for the purpose for which the relevant individual’s consent was obtained, and not for any other purpose, including but not limited to marketing, credit scoring, profiling, or identity verification beyond the original KYC purpose for which consent was given.
(d) Prior to initiating any Aadhaar-based authentication, the Merchant shall obtain the explicit, informed, and purpose-specific consent of the relevant individual, which consent shall:
identify Glomo and its authorised KYC Service Providers as the entities facilitating the authentication;
specify the purpose of the authentication; and
be documented and retained by the Merchant in a tamper-evident format for a minimum period of five (5) years from the date of authentication.
(e) The Merchant shall not share, transfer, or disclose Aadhaar-based authentication data to any third party without fresh, purpose-specific consent from the relevant individual and appropriate authorisation under the UIDAI Requirements.
(f) The Merchant shall maintain complete and accurate authentication transaction logs as required under the UIDAI Requirements and shall produce such logs to Glomo within five (5) Business Days of a written request. Failure to comply with this clause may constitute grounds for immediate suspension of the Aadhaar-based KYC Verification Services by Glomo, without liability to Glomo.
ix. AADHAAR offline XML — Specific Obligations
(a) Where the Merchant uses the Aadhaar Offline XML KYC service facilitated by Glomo, the Merchant shall be solely responsible for:
obtaining, prior to initiating any Aadhaar Offline XML download, the explicit and informed consent of the relevant individual in the form and manner required by UIDAI guidelines for paperless eKYC;
securely storing the Aadhaar Offline XML KYC ZIP file using industry-standard encryption at rest, with access restricted to authorised personnel only;
not retaining the Aadhaar Offline XML KYC ZIP file beyond the completion and recording of the relevant KYC verification, unless specifically required by Applicable Laws; and
where the Merchant integrates any Android or mobile SDK provided by Glomo or its KYC Service Provider to facilitate Aadhaar Offline XML download, ensuring that the resulting KYC ZIP file is transmitted promptly and securely to the Merchant’s backend systems and is not retained on the end user’s device beyond what is technically necessary for such transmission.
(b) The Merchant acknowledges that Glomo and its KYC Service Providers shall not be responsible for the Merchant’s compliance with UIDAI Requirements applicable to the handling of the Aadhaar Offline XML KYC ZIP file following its delivery to the Merchant’s systems.
4. Fees
i. Fees for KYC Verification Services shall be determined separately and may be levied per verification, per document, or as monthly usage charges, as mutually agreed in writing.
ii. Glomo may deduct such fees from settlement proceeds or invoice the Merchant separately.
iii. Fees are exclusive of taxes, statutory levies, and third-party API charges.
5. KYC Data Retrieval And Purging
i. Glomo and its verification partners may store KYC-related data, documents, and logs for the minimum periods mandated by applicable law and their internal retention policies.
ii. Glomo may archive or delete such data upon expiry of the retention period without further notice to the Merchant.
iii. Glomo may use aggregated and anonymized KYC data for risk analytics, fraud detection, and product improvement, consistent with data-protection laws.
iv. The Merchant shall retrieve all KYC Data (including KYC verification outputs, identity documents, and associated logs) from the Glomo Platform promptly following the completion of each KYC verification event, and shall store such data securely within the Merchant’s own systems in accordance with the Merchant’s data retention obligations under Applicable Laws.
v. Where the Merchant has completed a KYC verification and no longer requires Glomo to retain the associated KYC Data on the Glomo Platform or the systems of Glomo’s KYC Service Provider, the Merchant shall notify Glomo through such notification mechanism as Glomo makes available on the Glomo Platform from time to time (a “Purge Request”). Upon receipt of a valid Purge Request, Glomo shall use commercially reasonable efforts to ensure deletion of the relevant KYC Data from its systems and from the systems of its KYC Service Providers, subject to any overriding mandatory retention obligations under Applicable Laws.
vi. The Merchant acknowledges that, until a Purge Request is submitted, KYC Data may be retained by Glomo and its KYC Service Providers in accordance with applicable minimum data retention requirements, which may include retention by Glomo’s KYC Service Providers in accordance with their own regulatory obligations. Glomo shall have no liability to the Merchant in connection with the retention of KYC Data prior to receipt of a valid Purge Request.
vii. Where a Data Principal exercises a right to erasure under the Digital Personal Data Protection Act or any other Applicable Law, the Merchant shall notify Glomo promptly, and in any event within forty-eight (48) hours of the Merchant becoming aware of such request, to enable Glomo to process the deletion through the applicable upstream channels. Glomo shall use commercially reasonable efforts to comply with such a deletion request and shall notify the Merchant of completion or any constraints arising from mandatory retention obligations.
6. Liability and Risk Allocation
i. The Merchant acknowledges that the KYC Verification Services rely on third-party systems and regulatory databases, including those belonging to Glomo’s Facility Providers. Glomo shall not be responsible for interruptions, latency, or inaccuracies resulting from these systems or any regulatory changes affecting such services.
ii. Where a breach of Personal Data processed in connection with the KYC Verification Services originates from or is attributable to Glomo’s systems or the systems of a KYC Service Provider, Glomo shall notify the affected Merchant in writing without undue delay and in any event within seventy-two (72) hours of Glomo becoming aware of such breach or suspected breach. Such notification shall include, to the extent then known:
(a) a description of the nature of the breach and the KYC Data and categories of individuals affected;
(b) the likely consequences of the breach;
(c) the measures taken or proposed by Glomo to address the breach and mitigate its effects; and
(d) a point of contact for further information.
Glomo’s notification obligation under this clause is subject to Glomo having received notification of the relevant breach from its KYC Service Provider where the breach originates from such provider’s systems.
iii. The Merchant agrees to defend, indemnify and hold harmless Glomo, its independent contractors, acquiring banks, and directors, employees and agents, from and against any claims, damages, costs, liabilities and expenses (including, but not limited to, reasonable attorneys’ fees) arising out of or related to:
(a) any regulatory action, fine, penalty, or enforcement proceeding initiated by UIDAI or any other Governmental/Regulatory Authority arising from the Merchant’s misuse of KYC Data, failure to perform required due diligence in connection with the KYC Verification Services, or improper retention or transfer of KYC Data in breach of this Agreement or Applicable Laws; or
(b) any claim, loss, or liability arising from the Merchant’s unauthorized distribution, resale, or use of KYC Data for any purpose not expressly permitted by this Agreement or Applicable Laws.
7. Additional Terms for Regulated Entities using V-CIP
7.1 Scope
Where the Merchant is a regulated entity under the AML, CTF, and KYC Regulations (including any amendments thereto) (a “Regulated Entity” or “RE”) and opts to undertake video-based customer identification process (“V-CIP”) for onboarding or periodic KYC updation of its customers, the Merchant acknowledges and agrees that:
i. the Merchant, and not Glomo, is and shall at all times remain the Regulated Entity responsible for customer due diligence (CDD), risk classification, onboarding decisions and ongoing compliance with the Applicable Laws; and
ii. Glomo acts solely as a technology / KYC service provider enabling V-CIP and related checks, and nothing in this Agreement shall be construed as Glomo assuming any statutory obligations of a Regulated Entity under the AML, CTF and KYC Regulations.
7.1 Merchant’s Responsibilities
The Merchant shall ensure that any V-CIP performed using Glomo’s Services satisfies all infrastructure and security requirements under the AML, CTF, and KYC Regulations, including but not limited to, ensuring:
i. compliance with IFSCA’s Cyber Security and Cyber Resilience Guidelines (10 March 2025, as amended) and any other IT risk and cybersecurity regulations.
ii. that the technology environment for the V-CIP process is housed within the premises of:
(a) the Merchant; or
(b) the Merchant’s Financial Group supervised by a financial sector regulator; or
(c) a KYC Registration Agency (as defined under the AML, CTF, and KYC Regulations); and
(d) that all V-CIP connections originate from the Merchant’s secured network domain.
iii. that any technology outsourcing to Glomo complies with IFSCA outsourcing requirements, including due diligence, monitoring and written terms addressing confidentiality, data protection and performance.
iv. if cloud infrastructure is used, the Merchant shall ensure:
(a) ownership of all V-CIP data remains with the Merchant or its Financial Group;
(b) V-CIP videos and associated data are transferred immediately to servers owned or leased by the Merchant/Group;
(c) Third-party service providers retain no V-CIP data other than as a data processor acting strictly on Merchant instructions.
v. end-to-end encryption between the customer device and the hosting point of the V-CIP platform, and ensuring customer consent is recorded in a tamper-evident, audit-traceable manner.
vi. V-CIP systems prevent connections from VPNs, proxies or spoofed IP addresses and that:
(a) resident Indian customers connect from India; and
(b) NRI customers connect only from permitted jurisdictions by IFSCA.
vii. V-CIP recordings include live geo-tagging and time stamps through tamper-proof technology.
viii. the use of AI-based liveness, face-matching, anti-deepfake and anti-spoofing controls.
ix. periodic VAPT, security audits and functional testing are performed by CERT-In empanelled or other approved auditors, with remediation of critical gaps before and during deployment. The Merchant shall also upgrade workflows and systems based on fraud experience and report any detected forged identity cases as required.
7.3 Operational Procedures
The Merchant shall conduct the V-CIP strictly in accordance with regulatory requirements under the AML, CTF, and KYC Regulations.
7.4 Record-Keeping and Data Management
i. The Merchant shall store V-CIP recordings in a secure manner with appropriate date-time stamps and searchability.
ii. The Merchant shall retain activity logs and credentials of officials performing V-CIP for the period mandated by Applicable Law.
iii. Where Glomo processes any V-CIP data on behalf of the Merchant, it does so strictly as a data processor. The Merchant remains responsible for defining lawful purpose, retention periods and deletion instructions.
7.5 Additional Provisions for NRI V-CIP (Optional)
Where the Merchant uses V-CIP for onboarding or KYC updation of eligible NRI customers:
i. Only NRI customers residing in jurisdictions permitted by Applicable Law may be onboarded via V-CIP.
ii. The Merchant shall ensure that the customer’s IP address originates from the same jurisdiction reflected in the submitted proof of address.
iii. The Merchant shall capture and verify details of the NRI customer’s bank account in the permitted jurisdiction for address verification.
iv. The Merchant shall open accounts in debit-freeze mode until receipt and verification of the first credit from the verified overseas bank account.
7.6 No Assumption of Regulated Entity Obligations by Glomo
i. Nothing in this Schedule shall be construed as Glomo acting as a Regulated Entity, conducting V-CIP, or assuming any obligations imposed on a Regulated Entity.
ii. The Merchant shall indemnify and hold harmless Glomo against any loss, penalty, claim or liability arising from the Merchant’s non-compliance with V-CIP requirements under Applicable Law, irrespective of Glomo’s role as a technology service provider.
ANNEXURE B
PROHIBITED PRODUCTS
Adoption agencies
Adult goods and services – pornography and other sexually suggestive or obscene materials (including literature, imagery and media); escort or prostitution services; adult live chat or pay-per-view services; extreme sexual violence; bestiality; child pornography.
Age-restricted goods or services – without verification of age or legal compliance.
Aggregation of funds – licensed or unlicensed aggregation, factoring, or activities to obfuscate origin of funds.
Alcohol – alcoholic beverages such as beer, liquor, wine, or champagne.
Any product or service not in compliance with applicable laws and regulations, whether federal, state, local, or international, including the laws of India.
Atomic power businesses – nuclear or atomic-related businesses operating without authorization.
Body parts – organs or other body parts.
BPO services – where prohibited by applicable law or policy.
Bulk marketing tools – email lists, software, or other products enabling unsolicited email messages (spam).
Businesses encouraging unlawful violence or discrimination – any business promoting, encouraging, or celebrating violence or hate against individuals or groups based on race, religion, disability, gender, sexual orientation, national origin, or other immutable characteristics.
Cable descramblers and black boxes – devices intended to obtain cable and satellite signals for free.
Charities and NGOs – where not properly registered or licensed, or for misuse of charitable status.
Copyright infringement and intellectual property violations – unauthorized copies of books, music, movies, software, video games, or other licensed or protected materials; counterfeit or imitation goods; copyright unlocking devices such as mod chips; counterfeit stamps and autographs; products infringing trademarks, patents, trade secrets, or privacy rights.
Counterfeit or unauthorized goods – replicas or imitations of designer goods, illegally imported or exported goods, unauthorized resale of brand-name items.
Credit repair and financial counselling – credit repair, debt relief, or bankruptcy services, unless licensed.
Crime-related items – crime scene photos or personal belongings of criminals.
Drugs, controlled substances and related items – hallucinogens, illegal drugs, herbal drugs such as salvia or magic mushrooms, substances designed to mimic illegal drugs such as kratom, drug test circumvention aids such as cleansing shakes and additives, and drug paraphernalia such as bongs, vaporizers, and hookahs.
Endangered species and derivatives – plants, animals, or other organisms in danger of extinction.
Esoteric or psychic services – fortune telling, psychic consultations, occult services.
Gambling – gambling activities and indirect payments connected to gambling firms.
Government IDs or documents – fake IDs, passports, diplomas, noble titles.
Guaranteed employment services.
Hacking and cracking materials – manuals, guides, information, or equipment enabling illegal access to software, servers, or protected property.
Illegal or unlicensed businesses – businesses operating without required licences or permits; unlawful goods or services.
Immigration services – except for licensed consultation.
Loose diamonds – unless from legitimate verified sources.
Marijuana and related businesses – dispensaries, cultivation, or sales of marijuana or cannabis products.
Miracle cures and pseudo-pharmaceuticals – unsubstantiated cures, quick health fixes, weight-loss products, or sexual enhancers not approved by regulators.
Mugshot publication or pay-to-remove sites – platforms that exploit reputational harm.
No-value-added services – resale of services or government offerings without added value, or unfair or predatory consumer offerings.
Offensive or harmful goods – literature or products that defame or slander, incite violence, promote intolerance or hate, or glorify violence against individuals or groups.
Online pharmacies – unlicensed pharmacies, or sale of prescription medicines without authorization.
Pawnshops – unless licensed and compliant with local regulations.
Products altered to change safety or performance specifications or indications of use.
Products labelled as "tester," "not for retail sale," or "not intended for resale".
Pyramid, Ponzi, multi-level or get-rich-quick schemes – network marketing, referral marketing, matrix sites, or investment schemes promising high or guaranteed returns.
Religious products – products or services making false claims or hurting religious sentiments.
Shell banks – banks that have no physical presence in any country.
Surgical products sold directly to consumers.
Telemarketing – unlicensed or unsolicited cold-calling and call list businesses.
Tobacco and smoking products – cigarettes, cigars, chewing tobacco, e-cigarettes, vaping liquids or devices.
Traffic devices – radar detectors, jammers, license plate covers, or signal changers.
Virtual currency, cryptocurrency, NFTs, or monetized credits – unless expressly permitted by applicable laws.
Weapons, munitions and explosives – firearms, ammunition, knives, gun parts, brass knuckles, gunpowder, fireworks, toxic, flammable or radioactive materials, and pyrotechnic devices.
Websites depicting violence – unlawful violence, extreme gore, or glorification of physical harm.
Work-at-home businesses – misleading schemes offering income from home without regulatory approvals.
Terms and Conditions for Payment Service Users (PSUs)
These Terms and Conditions ("Terms") constitute a legally binding agreement between you (the "User" or "PSU") and Glomo Payments IFSC Private Limited ("Glomo"), a regulated Payment Service Provider under the IFSCA (Payment Services) Regulations, 2024, having its registered office at GIFT City, Gandhinagar, Gujarat, India. These Terms govern your access to and use of Glomo's services to initiate payment transactions to designated beneficiaries.
Definitions
Capitalised terms used but not defined herein shall have the meanings assigned to them under the IFSCA (Payment Services) Regulations, 2024.
In addition, the following terms shall have the meanings ascribed to them below:
"Beneficiary" means the individual or entity identified by the PSU as the recipient of funds in a Transaction.
"Facility Providers" means banks, financial institutions, card networks, and other parties facilitating Glomo’s Services.
"Payment Method" means the financial instrument or facility (including but not limited to credit cards, debit cards, bank accounts, prepaid instruments or e-wallets) used by the PSU to fund or initiate a Transaction.
“PSU” means an individual who vails Glomo’s Services as per these Terms.
"Transaction" means a payment instruction initiated by the PSU to Glomo for transfer of funds to a Beneficiary.
Eligibility and KYC Requirements
To access the Services, the PSU must:
Be of legal age and capacity or a duly authorised representative of a legal entity;
Complete Glomo’s onboarding and KYC procedures in compliance with IFSCA AML, CTF and KYC Guidelines, 2022;
Provide true, accurate, and complete information.
Glomo may, at its sole discretion, deny or restrict access to the Services based on regulatory risk assessments or non-compliance.
Scope of Services
Subject to these Terms and applicable laws, Glomo shall provide access to:
Cross-border and domestic fund transfer facilities;
FX conversion and settlement services;
Ancillary value-added services as may be made available on Glomo’s platform.
Glomo may add, modify, suspend, or withdraw any Service at its sole discretion for regulatory, risk, or operational reasons.
Consent and Transaction Authorisation
By submitting a payment instruction, the PSU:
Irrevocably authorises Glomo to initiate and process the Transaction using the selected Payment Method;
Agrees that authorisation may be evidenced through OTP, password, biometric, or other authentication mechanism;
Understands that once authorised, a Transaction may not be cancelled except as permitted by law or Glomo.
Fees and Charges
Applicable fees and charges, including FX margins, taxes, and any other processing costs, shall be disclosed to the PSU prior to confirmation of the Transaction.
The PSU authorises Glomo to deduct such amounts from the Transaction value or charge them separately, as Glomo deems appropriate.
Processing, Settlement, and Refunds
Settlement timelines vary based on the Payment Method used, the Beneficiary jurisdiction, intermediary processing agents, and banking availability.
Glomo shall not be liable for delays caused by force majeure events, regulatory reviews, or third-party systems.
Refunds, where permissible, will be subject to applicable law and internal risk checks and may be net of applicable charges.
Use Restrictions
The PSU shall not:
Use the Services for unlawful, fraudulent, or restricted purposes as defined by Glomo’s Prohibited Products Annexure;
Conduct Transactions on behalf of third parties without Glomo’s prior written consent;
Breach any sanctions laws or anti-money laundering statutes applicable to the Services.
Reversals, Refunds and Chargebacks
The PSU understands and agrees that:
Reversals are not allowed unless mandated by law or technical error;
Chargebacks and reversals shall be subject to the rules of the applicable Payment Method used by the PSU;
Any costs, fees, or losses arising from reversals or disputes will be borne solely by the PSU.
Security Obligations
The PSU shall:
Keep all credentials, OTPs, passwords, and access tools secure and confidential;
Promptly report any suspected fraud or unauthorised access to Glomo;
Acknowledge that while Glomo maintains robust security standards, absolute protection is not guaranteed.
Suspension and Termination
Glomo may, without liability, suspend or terminate PSU access to the Services:
On instructions from regulators or Facility Providers;
Upon detection of suspicious, high-risk, or unlawful activity;
For material breach of these Terms.
Any funds associated with a Transaction may be withheld or frozen pending investigation.
Data Protection and Confidentiality
The PSU acknowledges and consents to Glomo collecting, processing, and storing their personal data including but not limited to name, email address, phone number, and bank account number.
The PSU further consents to the sharing of such personal data with:
Facility Providers involved in transaction processing;
Governmental or regulatory authorities as required under Applicable Laws;
Third-party service providers assisting in delivering the Services.
Glomo shall retain such data for a minimum of ten (10) years and handle it in accordance with its Privacy Policy and applicable Data Protection Laws.
Grievance Redressal
The PSU may submit complaints to customers@glomopay.com.
Glomo shall process such complaints in accordance with its grievance redressal policy and applicable SLA timelines.
Limitation of Liability
Glomo shall not be liable for:
Indirect, incidental, punitive or consequential losses;
Delays, disruptions, or failures caused by third-party systems or force majeure;
Transactions processed as per valid authorisation protocols.
Glomo’s aggregate liability shall not exceed the fees received by Glomo in relation to the specific disputed Transaction.
Indemnity
The PSU agrees to indemnify Glomo, its affiliates, officers, employees, and Facility Providers from all losses arising due to:
Breach of these Terms or Applicable Laws;
Submission of false or misleading information;
Fraudulent, negligent, or unauthorised use of the Services.
Governing Law and Jurisdiction
These Terms shall be governed by and construed in accordance with the laws of India.
The courts of Gandhinagar, Gujarat (GIFT City), shall have exclusive jurisdiction over any disputes arising from these Terms.
Amendments
Glomo may amend these Terms at its discretion. Updated Terms shall be posted on Glomo’s website or notified through electronic means.
Continued use of the Services after such update shall be deemed as acceptance of the revised Terms.