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PayTonic App Terms & Conditions


You agree to our then-current Terms and Conditions each time You use or access our Application. If You do not agree to these Terms and Conditions, You may not use our Application. You acknowledge that these Terms and Conditions are supported by valuable consideration, the receipt, adequacy and sufficiency of which You acknowledge.

If at any time you do not agree to these terms and conditions or do not wish to be bound by these terms and conditions, You may not access or use the app and immediately terminate Your use of the services.

The Terms and Conditions (as may be amended from time to time, the "Agreement") is a legal contract between You (defined below) and YES Bank Limited having its registered office at 9th Floor, Nehru Centre, Discovery of India, Worli, Mumbai – 400 018



The following words and phrases shall have the meanings set out herein below in this document unless repugnant to the context:

  • "Application" or “PayTonic” means the PayTonic software application owned by Frictionfree Payment Solutions Private Limited, the business correspondent of the Bank and which can be downloaded to a mobile device to enable the user to initiate payments and other transactions.

  • "Payer" refers to the person who initiates payment transaction through PayTonic Payment Services

  • "Payment Source" refers to a bank account, credit card, debit card, prepaid payment instrument or other electronic payment method from which funds for payments will originate.

  • "PayTonic Payment Services" or "Services" refers to payment services provided by the Bank to Payers and Receiver through PayTonic.

  • "Receiver" refers to the person who is named by Payer as beneficiary of the payment transaction through PayTonic Payment Services or makes a "Receive Funds" request.

  • "Receive Funds" is a request which a Receiver can make and call for funds from a Sender after completing one time bank account verification process.

  • "You" and "Your" refer to any person who accesses, downloads or uses the Application in the capacity of Payer or Receiver.

  • "we", "us", "our" and “Bank” refer to Yes Bank Limited

About PayTonic

PayTonic is an Application which enables You in the capacity of a Payer to pay through Your mobile phone to pay Receiver. PayTonic enables You in the capacity of Receiver to receive the payments from Payers.

The Bank does not sell any other goods or services and is only providing a payment mechanism between Receiver and Payers who have signed up for PayTonic Payment Services. The Bank is not a warrantor, insurer, or guarantor of the goods & services, if any, provided by the Receiver. Any disputes regarding the quality, cost, expiration, or other terms of the goods or services purchased must be handled directly between Payer and the Receiver.


The services are not available to

  • anyone previously suspended or removed from the services by the Bank or

  • persons under the age of 18 or

  • if You are below the age of eighteen (18) years, please read through these Terms and Conditions with Your parent or legal guardian, and only use the services with the permission of Your parent or legal guardian in accordance with the applicable laws.

You represent and warrant that You have the right, authority, and capacity to enter into this Agreement and to abide by all of the terms and conditions of this Agreement. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent identity, age or affiliation with any person or entity.

PayTonic Payment Services

  • Registration.

    In order to use the PayTonic payment service, You must complete registration for PayTonic Account. When You sign up for PayTonic, You are creating a PayTonic Account that is associated with Your mobile phone number that is registered as the primary contact with Your payment source provider. Depending on the Services of PayTonic You use, You may be asked to provide information such as Your name, Payment Source information (Your credit card or debit card or prepaid payment instrument number   card expiration date, bank name, IFSC code and account number for the account, if applicable), date of birth, and/or Your PAN number. We may verify Your registration information with a third party verification vendor. In some cases, we may ask You to send us additional information, such as a copy of Your driving license or passport, or to answer additional questions to help us verify Your identity. The information You provide will be used by us to determine if You are eligible to begin and/or continue to use PayTonic Payment Services. Provision and use of such data is subject to the PayTonic Privacy Policy.

    You must register a valid Payment Source to make payment transactions. The Bank, in its sole and absolute discretion, may refuse to approve or may terminate existing registrations for the PayTonic Payment Service with or without cause or notice, other than any notice required by any applicable law, and not waived herein.

  • Usage of Application.

    You accept that for the purposes of the Services any transaction emanating from the mobile phone number registered by You shall be assumed to have initiated by You at your sole discretion. It is your sole responsibility to request the Bank, to suspend the Services due to change of his registered mobile phone number or if mobile phone has been lost or has been allotted to some other person. You shall also be obliged to inform the Bank, if any, unauthorized transaction in your account, of which You have knowledge.

    The Bank enables You to send or receive money. Payer may request a payment transaction by following our on-screen instructions. For each transaction, Payer authorize us to process a payment of an amount, to the Receiver and from the Payment Source you have selected. You further authorize us to credit your Payment Source for payments returned by the Receiver.

    Receiver will receive an alert and may access its PayTonic Account to receive the money sent by Payer. You can also access Your transaction history of those transactions where the payments have been made through the PayTonic.

  • Payment Process Flow.

    For Payer: Payer is required to enter Receiver’s mobile number and amount and select Payment Source. Once credential and transaction are authenticated and authorized, payment will be transferred to Receiver.

    For Receiver: A Receiver shall be able to claim the payments instantly if he/she is already registered and installed the Application. Other Receivers may claim the payments after completion of verification process. For more details please write to care@paytonic.net

  • Storing Payment Source.

    You can store a Payment Source with PayTonic by providing the payment credentials: credit card or debit card or prepaid payment card number and card expiration date. All data pertaining to payment instruments are stored in compliance with prevailing regulations of Reserve Bank of India. Payment instruments are stored in PCI DSS Level 1 certified databases of the Bank or their third party service providers. The Payer acknowledges that the Bank can at its discretion move the stored card data of the Payer between databases of third party providers or itself. PayTonic will ensure that all the databases where card data is stored in complicance with PCI DSS.

  • Transacting on PayTonic.

    Payer is responsible for any charges and related fees that may be imposed under the Payment Source terms and conditions as a result of Payer's use of a Payment Source. You acknowledge and agree that for transactions between Payer and the Receiver, The Bank is not a party and the Bank or other affiliates or service provider or third party licensor are not a Payer, Buyer or a Receiver in connection with any Payment Transaction.


As a Payer

  • You may not use the PayTonic Payment Service to purchase any illegal goods or services or for any other underlying illegal transaction

  • You agree that You will not use the PayTonic Payment Service to purchase any products that violate these Terms of Service, other policies or rules applicable to the PayTonic Payment Service, or applicable law.

  • Failure to comply with these limitations may without prejudice to other rights result in suspension or termination of Your use of the PayTonic Payment Services.

As a Receiver

  • The Receiver acknowledges that it shall not carry out the prohibited activities.

  • The Receiver shall ensure that they are acting in compliance with and shall at all times act in compliance with all laws, rules and regulations.

  • The Receiver shall take all necessary steps and / or precautions to ensure that the goods or service, if any, offered by it are not mistaken or misrepresented as being associated with, being offered by the Bank.

  • The Receiver shall (whether on-line or otherwise) make any representations to Payer or any third party or to give any warranties which may require the Bank to undertake to or be liable for, whether directly or indirectly, any obligation and / or responsibility to Payer or any third party.

  • The Bank shall not be responsible for the any and all disputes between the Receiver and Payer and Receiver shall not make the Bank a party to such disputes.

Service Fees

If the Bank charges any service fees, the amount of the fee will be displayed when you use the Application, however the Bank currently does not charge Payer or Receiver any fee to use the PayTonic Payment Service. You authorize us to add the fee to the amount of the payment you Payer or Receiver request. The total amount will be debited from the Payment Source you have indicated in connection with your request. The financial institution that issues Your Payment Source may charge a fee in connection with the debiting or charging of the Payment Source resulting from the Payment Transaction. You should consult the terms and conditions governing Your Payment Source for more information about any such fees.

General Terms relating to the use of the Application

The Bank may deny a transaction if the Bank has reason to believe that it will not be able to initiate a charge to Your selected Payment Source, or if the Bank otherwise believes that the Bank will not be able to obtain funds from You to complete the requested purchase payment. We reserve the right to decline any Application initiated Payment Transaction if we have reason to believe that such Payment Transaction is a suspicious one. We reserve the right to suspend Your use of any PayTonic Payment Service for any reason.

The Bank may only be used for Indian Rupee transactions within India. The Bank does not support payments in foreign currencies.

You may receive an electronic transaction receipt from when You use the Bank. However, the Bank is under no obligation to provide You with a receipt or other written confirmation in connection with the Payment Transaction.

We may impose limits on Receiver where You can use PayTonic Payment Services.

If You have an inquiry regarding a payment made with PayTonic Payment Services, or You believe there has been an error or unauthorized transaction regarding a payment transaction using PayTonic Payment Services, please contact care@paytonic.net. Describe the error or the transaction in question, and explain as clearly as possible why You believe it is an error or why you need more information; and, Tell us the amount of the suspected error. If You notify us on time, we will investigate Your complaint in good faith and promptly correct any error we made. If we determine that we did not make an error, and You still have questions, you should contact the Payment Source for additional information about your transaction.

You authorizes the Bank to send any message or make calls to his mobile phone number or display banners or any other communication on Application to inform You about any promotional offers including information regarding new products of the Bank of Frictionfree Payment Solutions Private Limited either now available or which may come up with in the future, greetings, banners or any other promotional massages or any other message that the Bank may consider appropriate to You. You irrevocably and unconditionally agrees that such calls or messages made by the Bank and/or its agents shall not be construed as a breach of your privacy and shall not be proceeded against accordingly.


You acknowledge and agree that in connection with this Agreement, You may have access to certain trade-secrets and other non-public confidential information of PayTonic Payment Services during and in connection with this Agreement (Confidential Information), and hereby agrees not to disclose any Confidential Information to any third party and not to use any such Confidential Information for any purpose other than as strictly required for performance under this Agreement. All such Confidential Information is and shall remain the exclusive property of the Bank and no license shall be granted or implied with respect to such Confidential Information by reason of the Your access to such Confidential Information.

Third party service providers or licensor

The Bank may have arranged for third party service providers or licensor to provide products or services to You through Application ("Third Party Service Providers"). In order to use these products or services, You may be required to agree to additional terms and conditions from those Third Party Providers, and may be subject to additional requirements of the Third Party Service Provider. By agreeing to these Terms of Service or continuing to use PayTonic, You hereby agree to any Third Party Service Provider terms that apply to Your use of such products and services through PayTonic which may be updated from time to time. For avoidance of doubt, these Third Party Service Provider terms are between You and the applicable Third Party Service Provider, not with the Bank.

Refund and Cancellation Policy

No refund/cancellation will be entertained by the Bank if the payment is claimed or credited in Receiver’s account.

You may edit or cancel a payment request up to the cut-off time of the day prior to the business day when the payment will be processed. To do so, follow the instructions on the Application. If we do not receive your instruction to edit or cancel a payment on-time, we may process the payment, and we will not be liable to you for doing so.

All Payment Transactions processed through the PayTonic Payment Service are non-refundable to Payer by the Bank. You may have additional refund or charge-back rights under Your Payment Source issuer agreement or applicable laws.

In case of issues in transactions, You may inform us by sending an email to our customer services email address care@paytonic.net

Termination & Agreement Violations

You agree that the Bank, in its sole discretion, for any or no reason, and without penalty, may suspend or terminate Your account (or any part thereof) or Your use of the Services and remove and discard all or any part of Your account, Your user profile, or Your recipient profile, at any time. The Bank may also in its sole discretion and at any time discontinue providing access to the Services, or any part thereof, with or without notice. You agree that any termination of Your access to the Services or any account You may have or portion thereof may be effected without prior notice, and You agree that the Bank will not be liable to You or any third party for any such termination. Any suspected fraudulent, abusive or illegal activity may be referred to appropriate law enforcement authorities. These remedies are in addition to any other remedies the Bank may have at law or in equity. Upon termination for any reason, You agree to immediately stop using the PayTonic Payment Services.

Limitation of Liability and Damages

In no event will the Bank or its affiliates or subsidiary or its executives, directors or its contractors, agents, licensors, partners, or suppliers be liable to You for any special, indirect, incidental, consequential, punitive, reliance, or exemplary damages (including without limitation lost business opportunities, lost revenues, or loss of anticipated profits or any other pecuniary or non-pecuniary loss or damage of any nature whatsoever) arising out of or relating to

  • This agreement

  • The services, the site or any reference sites, or

  • Your use or inability to use the services, the app (including any and all materials) or any reference site, even if the Bank or a the Bank authorized representative has been advised of the possibility of such damages.

In no event will the Bank or its affiliates or subsidiary or any of its contractors, directors, employees, agents, third party partners, licensors or suppliers' total liability to You for all damages, liabilities, losses, and causes of action arising out of or relating to

  • This agreement

  • The services

  • Your use or inability to use the Services or the app (including any and all Materials) or any Reference Sites, or

  • Any other interactions with the Bank, however caused and whether arising in contract, tort including negligence, warranty or otherwise, exceed the amount paid by You, if any, for using the portion of the Services or the Site giving rise to the cause of action or One Thousand Rupees (Rs.1000), whichever is less.

You acknowledge and agree that the Bank has offered its products and services, set its prices, and entered into this agreement in reliance upon the warranty disclaimers and the limitations of liability set forth herein, that the warranty disclaimers and the limitations of liability set forth herein reflect a reasonable and fair allocation of risk between You and the Bank, and that the warranty disclaimers and the limitations of liability set forth herein form an essential basis of the bargain between You and the Bank. The Bank would not be able to provide the services to You on an economically reasonable basis without these limitations. This paragraph shall survive termination of this Agreement.


You agree to indemnify, save, and hold the Bank, its affiliates, contractors, employees, officers, directors, agents and its third party suppliers, licensors, and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to Your use or misuse of the Services or of the Application, any violation by You of this Agreement, or any breach of the representations, warranties, and covenants made by You herein. The Bank reserves the right, at Your expense, to assume the exclusive defense and control of any matter for which You are required to indemnify the Bank, including rights to settle, and You agree to cooperate with the Bank's defense and settlement of these claims. The Bank will use reasonable efforts to notify You of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of this Agreement.

Disclaimer & No Warranties

To the fullest extent permissible pursuant to applicable law, the Bank and its third-party partners, licensors, and suppliers disclaim all warranties, statutory, express or implied, including, but not limited to, implied warranties of Merchantability, fitness for a particular purpose, and non-infringement of proprietary rights. The Application may be unavailable at certain times when computer systems require maintenance or upgrades, unforeseen maintenance is necessary, or major events occur, such as earthquakes, fires, floods, computer failures, interruptions in telephone service, or electrical outages. We will make all reasonable efforts to ensure the availability of the Application. However, we are in no way liable for the unavailability of all or any portion of the Application.

Security Procedures

  • Password

    Your mobile number will be Your unique identifier/login ID and You may create Your PIN. We are entitled to act on any instructions we receive under Your unique identifier and PIN. For security purposes, we recommended that you memorize your PIN and do not write it down. You are responsible for keeping your password confidential. Any use of your password will be considered the same as your written signature in authorizing us to complete any payment transactions you may request. Any person to whom you give your password will have full access to your payment information, and you assume all risk of loss resulting from any such access. If you believe your password has been lost or stolen, or if you suspect any fraudulent activity, contact us immediately.

  • Encryption

    Data transferred via the Application is encrypted in an effort to provide transmission security. Notwithstanding our efforts to ensure that the Application is secure, you acknowledge that mobile transmissions and the Internet are inherently insecure and that all data transfers, occur openly and potentially can be monitored and read by others. We cannot and do not warrant that all data transfers utilizing our Application will not be monitored or read by others.

  • Additional Security Procedures.

    We may from time to time use reasonable additional or alternative procedures to ensure the security and confidentiality of your payment transactions through our Application. At all times you agree to comply with all security procedures we may impose in connection with your use of the Application. You agree that all security procedures we use are commercially reasonable, and to the extent allowed by law, you assume all risk of loss for unauthorized transactions where we have followed our then-current security procedures.

  • Duty of Reasonable Care

    We will exercise good faith and reasonable care in processing your transactions in accordance with these Terms and Conditions. You will similarly exercise good faith and reasonable care in

    • Using the Application

    • Observing and maintaining security procedures

    • Communicating with us, and

    • in reviewing your transaction records for any errors or discrepancies.

Ownership & Proprietary Rights

The PayTonic Application is owned and operated by third party licensor of the Bank. The visual interfaces, graphics, design, compilation, information, computer code (including source code and object code), products, software, services, and all other elements of the Services and the Application provided under PayTonic Payment Services (the "Materials") are protected by Indian copyright, trade dress, patent, and trademark laws, international conventions, and all other relevant intellectual property and proprietary rights, and applicable laws. As between You and the Bank, all Materials, trademarks, service marks, and trade names contained on the Application are the property of the Bank and/or third party licensors or suppliers. You agree not to remove, obscure, or alter PayTonic or any third party's copyright, patent, trademark, or other proprietary rights notices affixed to or contained within or accessed in conjunction with or through the PayTonic Payment Service.

Amendment of this Agreement

The Bank reserves the right to change, modify, add, or remove portions of this Agreement (each, a "change") at any time by posting notification on the Application or otherwise communicating the notification to You by SMS or e-mail or post. The changes will become effective, and shall be deemed accepted by You, 24 hours after the initial posting and shall apply immediately on a going-forward basis with respect to payment transactions initiated after the posting date. If You do not agree with any such modification, Your sole and exclusive remedy is to terminate Your use of the PayTonic Payment Service. For certain changes, the Bank may be required under applicable law to give You advance notice, and the Bank will comply with such requirements.


The Bank may provide You with notices and communications by email, SMS, regular mail or postings on the Application or by any other reasonable means. Except as otherwise set forth herein, notice to the Bank must be sent by courier or registered mail to 9th Floor, Nehru Centre, Discovery of India, Worli, Mumbai – 400 018 (herein after referred to as “YES BANK”) of the One Part.


The failure of the Bank to exercise or enforce any right or provision of this Agreement will not constitute a waiver of such right or provision. Any waiver of any provision of this Agreement will be effective only if in writing and signed by the Bank.


The Bank may elect to resolve any dispute, controversy or claim arising our of or relating to this Agreement or Service provided in connection with this Agreement by binding arbitration in accordance with the provisions of the Indian Arbitration & Conciliation Act, 1996. Any such dispute, controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration shall be conducted in Mumbai, India and judgment on the arbitration award may be entered in any court having jurisdiction thereof. Any arbitration shall be confidential, and You nor we may disclose the existence, content or results of any arbitration, except as may be required by law or for purposes of the arbitration award. All administrative fees and expenses of an arbitration will be divided equally between You and us. In all arbitrations, each party will bear the expense of its own lawyers and preparation. The language of Arbitration shall be English.

Governing Law and Forum for Disputes

Except as otherwise agreed by the parties or as described in the Arbitration section above, You agree that any claim or dispute You may have against the Bank must be resolved by a court located in Mumbai, India. You agree to submit to the personal jurisdiction of the courts located within Mumbai, India for the purpose of litigating all such claims or disputes. This Agreement shall be governed by the laws of India, without giving effect to any principles of conflicts of law.


If any provision of this Agreement is held to be unlawful, void, invalid or otherwise unenforceable, then that provision will be limited or eliminated from this Agreement to the minimum extent required, and the remaining provisions will remain valid and enforceable.


This Agreement, and any rights granted hereunder, may not be transferred or assigned by You without our prior written consent which may be withheld in our sole discretion, but may be assigned by us without restriction. Any assignment attempted to be made in violation of this provision shall be void and of no effect.


Upon termination of this Agreement, any provision which, by its nature or express terms should survive, will survive such termination or expiration as applied to transfers and relationship prior to such termination or expiration.


The heading references herein are for convenience purposes only, do not constitute a part of these Terms and Conditions, and will not be deemed to limit or affect any of the provisions hereof.


We provide PayTonic Payment Services for Payers and Receiver. We carry out all of our PayTonic Payment Services solely in our capacity as an authorized delegate. We are not Your agent or authorized representative for any purpose.

Entire Agreement

This is the entire agreement between You and the Bank relating to the subject matter hereof and will not be modified except in writing, signed by both parties, or by a change to this Agreement made by the Bank in accordance with the terms of this Agreement.

Additional terms & conditions for offers

  • The offer cannot be clubbed with any other offer, discount or scheme running by Frictionfree Payment Solutions Pvt. Ltd.
  • Frictionfree Payment Solutions Pvt. Ltd. reserves the right, at any time, without prior notice, to add / alter / modify / change or vary all of these terms and conditions or to replace, wholly or in part, this offer by another offer, whether similar to this offer or not, or to withdraw it altogether.
  • In case of any dispute or differences arising in connection with this offer, the decision of the management of Frictionfree Payment Solutions Pvt. Ltd. will be final and binding.
  • All disputes arising out of this offer are subject to exclusive jurisdiction of Courts at Mumbai
  • The gratification can neither be exchanged for any other gift/product or cash or cash equivalent nor can be transferred to any other person.
  • The images used in offer communication are purely indicative