Terms & Conditions – Pine Labs

EXECUTIVE SUMMARY

 

This document sets out the Terms and Conditions (“T&C”) applicable to the ISIC, ITIC IYTC & ALIVE ID RuPay Cards issued by Pine Labs - Contactless Variant. Pine Labs Private Limited (“Pine Labs”) has been granted an authorization to issue prepaid payment instruments by the Reserve Bank of India (“RBI”). Pine Labs have a co-branding agreement with AliveID Educom Private Limited, formerly known as STIC Youth Travels Private Limited (“Cobrand Partner”) to issue ISIC, ITIC, IYTC & ALIVE ID RuPay Cards issued by Pine Labs - Contactless Variant("Cards”). The Cobrand Partner holds the exclusive distribution rights of the ISIC, ITIC, IYTC & ALIVEID cards within India, as granted by the ISIC Association, including the right to sell the ISIC Card to other entities within the Territory of India. The T&Cs are available on https://www.isic.co.in/terms-of-use or www.pineperks.in/termsConditions. These T&Cs may be updated from time to time at the sole discretion of Pine Labs and The Cobrand Partner. The Cards are reloadable Full KYC PPIs which are issued and operate in accordance with the RBI Master Directions, as amended from time to time. The following terms and conditions are applicable to the Cardholder upon purchase of the Card from ISIC :

  1. All Cards shall be valid for a minimum period of 1 (One) year and shall remain valid till the date mentioned on the face of the Card. In Instances such as lost or damaged active card, Pine Labs shall, upon the request of the Co-Brand Partner issue replacement card to the Cardholder subject to applicable fees.
  2. The Cards can be redeemed at any of the websites and offline locations which accept RuPay instruments. However, there are certain Merchant categories, as listed at www.pineperks.in/termsConditions wherein the Card cannot be redeemed.
  3. The Card cannot be resold, transferred for value or redeemed/exchanged for its value in cash by the Cardholder.
  4. One Card will be issued per Cardholder, identified by unique mobile number.
  5. This card will only be issued by Pine Labs on request of the Cardholder and distributed by the Cobrand Partner to the Cardholder on agreeing to these Terms and Conditions (as updated from time to time) and also successfully fulfilling the eligibility and Know Your Customer (“KYC”) criteria as defined by Reserve Bank of India.
  6. Full KYC PPI feature.
    1. The amount loaded per Card cannot exceed Rs. 2,00,000/- (Rupees two Lakh). The amount outstanding per Card at any point of time shall not exceed Rs. 2,00,000/- (Rupees Two lakhs). Subject to applicable RBI Master Directions, Pine labs may set periodic transaction limits to the Card at its sole discretion. This limit is applicable at the user level and is across all the programs issued by Pine Labs.
    2. Full KYC PPI cardholder will also be able to withdraw money from ATM. Per transaction limit of Rs. 2000/- will apply and a customer will be able to withdraw maximum of Rs. 10,000 in month. The monthly limit is at the customer level across all programs.
    3. ATM withdrawal/usage charges will apply to Full KYC PPI as below:
      1. Financial transaction: Rs 25+GST (18%)
      2. Non-Financial transaction like balance check, PIN Change, Mini statement : Rs 10+GST(18%)
  7. Small KYC PPI feature
    1. The amount loaded per Wallet during any month shall not exceed Rs.10,000 (Rupees Ten Thousand) and the total amount loaded during the financial year shall not exceed Rs.1,20,000 (Rupees One Lakh and Twenty Thousand). The amount outstanding per Wallet at any point of time shall not exceed Rs.10,000 (Rupees Ten Thousand). This limit is applicable at the user level and is across all the programs issued by Pine Labs.
  8. The Cardholder hereby acknowledges and agrees that if there are no Transaction for a consecutive period of one (1) year on the Card, subject to validity of the Card, the Card shall be made inactive by Pine Labs / Co-brand partner by sending a notice to the Cardholder.
  9. The Card can be closed at any time and the balance funds available in the Card can be transferred ‘back to source’ (payment source from where the PPI was loaded) at the time of closure. The purchaser of the card should write to support@pineperks.in to understand the refund process.
  10. If the Cardholder information provided by the Purchaser or the Cardholder is found to be incorrect at any time, the Card in question is liable to be cancelled and the entire amount forfeited, and no claims in respect thereof will be entertained by Pine Labs/ Cobrand Partner.
  11. The limit for contactless transactions will be as prescribed by RBI.
  12. The Cardholder shall indemnify, defend and hold harmless Pine Labs/Cobrand Partner from and against any and all third party liability, losses, costs and expenses (including reasonable attorneys’ fees) relating to or arising out of the breach of these terms and conditions, the negligence or wilful misconduct or fraud by the Purchaser, or its employees or agents.
  13. PINE LABS DOES NOT MAKE ANY WARRANTIES, EXPRESS OR IMPLIED, WITH RESPECT TO THE CARDS, INCLUDING WITHOUT LIMITATION, ANY EXPRESS OR IMPLIED WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. IN THE EVENT A CARD IS NON-FUNCTIONAL, THE PURCHASER AND THE CARDHOLDER’S SOLE REMEDY WILL BE THE REPLACEMENT OF SUCH CARD.
  14. The Cardholder shall inform ISIC, by contacting the Customer Care at 1800 102 4742 or email at info@isic.co.in, within 10 (Ten) days of occurrence of any transaction, if any irregularities or discrepancies exist in such transaction or if such Cardholder has any query or complaint in relation to the Transaction including for any unauthorised transaction. If ISIC does not receive any information to the contrary within 10 (Ten) days of occurrence of any Transaction, it shall be entitled to assume and proceed on the basis that the relevant Transaction(s) was effected without any irregularity/ discrepancy. Subject to the foregoing, all transactions as aforesaid shall be dealt with in accordance with the Customer Grievance Redressal Policy of Pine Labs. Which can be accessed at https://www.pineperks.in/grievancePolicy. Cardholder can reach out to Pine Labs via email at support@pineperks.in or by contacting at 080-69806393 for any complaints and escalation as per its grievance redressal policy. These cards will be distributed by authorised ISIC personnel only.
  15. All fees, surcharges, goods and applicable taxes with respect to Card shall be borne by the Purchaser or the Cardholder. Pine Labs/ISIC shall have no liability towards the same. There may be surcharge applicable on certain card transactions. In such an event, the same will be deducted from the card balance available in the Card at the time of transaction. In case the card balance is not sufficient to provide for the surcharge the transaction shall be declined.
  16. In case of no financial transaction for a consecutive period of one year then Card shall be made inactive after sending a notice to the Cardholder. These can be reactivated only after validation and due diligence.
  17. Any change of Cardholder credentials like mobile number, e-mail, etc. will have to be communicated by the Purchaser only. The Cardholder cannot request for any changes directly. Cardholders can check the available balance of cards by logging in on the www.ISIC.co.in Website and ISIC Mobile App.
  18. Any dispute in relation to the Cards shall be referred to ISIC and the decision of Pine Labs shall be final in this regard. Any disputes and claims in relation to the card shall be subject to the laws of India and the jurisdiction of the courts at New Delhi.
  19. For detailed terms and conditions, please visit www.pineperks.in/termsConditions