Last Updated: 19-Aug-2025
Who We Are: Wonderpay Technologies Pvt. Ltd. (“Wonderpay”, “we”, “our”) is a fintech service provider offering virtual accounts prefixed “WPAY”, payin/payout processing, wallet solutions, and API integrations. We operate in compliance with the Reserve Bank of India’s (“RBI”) Guidelines on Regulation of Payment Aggregators and Payment Gateways (March 2020, as amended) and all other applicable laws.
We act solely as a technology and facilitation platform between merchants and their customers, with all payment collection and transfer carried out exclusively through regulated banking/payment partners.
Your Agreement: By using our website, merchant dashboard, APIs, or services, you agree to follow these Terms of Service, our Privacy Policy, and all applicable Indian laws.
Our Role: We act purely as an intermediary between merchants and their customers to facilitate payment collection and transfer through regulated banking/payment partners.
Your Responsibilities: Complete KYC/KYB, comply with laws, safeguard account/API credentials, maintain lawful operations, and resolve disputes with your customers.
Compliance Priority: We may suspend services when we detect high risk or prohibited activities.
Data Protection: We store payment data strictly within India in accordance with RBI’s data localisation mandate.
Fees & Settlements: Governed by your Merchant Agreement, net of charges, taxes, chargebacks, and compliance holds.
Disputes & Liability: First amicable resolution, then arbitration in Jaipur, Rajasthan. Liability is capped to fees paid for the relevant service.
These Terms of Service (“Terms”) govern your (“Merchant”, “you”, “your”) access to and use of the payment and fintech services provided by Wonderpay. By creating a merchant account, integrating our APIs, or processing transactions via Wonderpay, you agree to:
These Terms;
RBI regulations and directives;
All applicable laws in India.
Wonderpay operates in line with:
RBI Guidelines on Regulation of Payment Aggregators and Payment Gateways (March 2020, as amended);
Prevention of Money Laundering Act, 2002 (PMLA) and associated AML/KYC norms;
Information Technology Act, 2000, including data protection and cybersecurity provisions;
Other applicable laws and RBI circulars.
We reserve the right to amend procedures, controls, and timelines to comply with evolving laws.
Funds collected from end-users on behalf of merchants are routed only through regulated banking/payment partners in accordance with RBI guidelines. Wonderpay does not directly hold merchant funds in its own accounts. Settlements to merchants are processed based on the timelines agreed with our partner banks/payment aggregators and in line with RBI’s prescribed settlement schedules (currently T+1 / T+2 business days, subject to permissible exceptions and partner bank policies).
Services: Payment processing, virtual accounts, payins, payouts, wallet services, API integrations, related support.
Merchant Agreement: Onboarding contract stating commercial and operational terms between you and Wonderpay.
Prohibited Activities: Activities restricted by RBI, Indian law, or Wonderpay’s internal compliance policy.
Merchant Fund Transfer: Funds collected from end-users on behalf of merchants are routed only through regulated banking/payment partners in accordance with RBI guidelines, net of applicable fees, taxes, chargebacks, and adjustments. Wonderpay does not directly hold merchant funds; timelines follow partner bank/payment aggregator processes and RBI guidelines.
Chargeback: A reversal of a successful transaction initiated by the end-user’s bank or payment network, processed through our banking/payment partners and adjusted from the Merchant’s future settlements.
Compliance Hold: Compliance Hold: Temporary retention or delay in the transfer of merchant funds by our regulated banking/payment partners, at their discretion, due to legal, risk, or regulatory checks, in accordance with applicable laws and RBI guidelines.
You must complete full KYC/KYB verification, submitting documents including PAN, GST, business registration, bank proof, and ID/address of authorised signatories
Periodic re-verification may be mandated.
Failure to provide accurate/up-to-date documentation may result in suspension or termination.
We perform real-time and post-event monitoring of transactions to detect suspicious activity.
Transactions breaching AML/PMLA norms will be reported to the Financial Intelligence Unit (FIU-IND).
We may block, hold, or reverse transactions under investigation and suspicious transactions may be frozen by partner banks/payment aggregators in compliance with RBI and PMLA norms.
High-risk merchants may be subject to rolling reserves or altered settlement timelines.
You agree to:
Use the Services only for lawful purposes and permitted business categories.
Maintain security of your login credentials, API keys, and systems.
Publish compliant customer-facing terms, privacy policy, and refund policy as per Consumer Protection Act requirements.
Handle end-customer grievances, chargebacks, and refunds directly; Wonderpay is not party to disputes between you and your customers relating to goods/services.
Notify Wonderpay promptly of any breaches, fraud, or system compromise.
Both parties must protect business/technical information received in connection with Services, surviving termination.
You agree not to use the Services for:
Money laundering, fraud, terrorism financing.
Sale of prohibited/restricted goods under Indian law.
Unlicensed financial services (lending, forex, gambling, etc.) unless explicitly authorised.
Any activity flagged as high-risk without our prior written approval.
Wonderpay shall not be liable for any delay, failure, or deficiency in fund transfers caused by partner bank/payment aggregator compliance checks, holds, outages, or operational delays.
Our total liability to you is limited to the fees paid to Wonderpay for the service in dispute.We are not liable for indirect, incidental, consequential, or punitive damages.
You will indemnify Wonderpay against all claims, penalties, and losses arising out of:
Your breach of law or these Terms;
Fraud or wilful misconduct by you or your agents;
Disputes with your customers.
We may suspend/terminate Services immediately for fraud, illegal activity, RBI directive breach, or payment default.
Either party may terminate with 30 days’ written notice, subject to completion of any pending payouts
Grievance Redressal: Contact our Nodal Officer - Mr. Paritosh Yadav at legal@wonderpaytec.com for resolution within defined timelines.
Unresolved disputes will be referred to arbitration under the Arbitration and Conciliation Act, 1996, seated in Jaipur, Rajasthan, in English.
These Terms are governed by the laws of India, with courts in Jaipur having exclusive jurisdiction.
Neither party is liable for delays/non-performance due to events beyond reasonable control (e.g., natural disasters, war, governmental action, internet outages).
We may modify these Terms for legal or operational reasons, with prior notice. Continued use after changes implies acceptance.
