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City: Gurgaon
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I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :20/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CIBIL TERMS AND
CONDITIONS

To,
TransUnion CIBIL Limited
[Formerly known as Credit Information Bureau (India) Limited]
One Indiabulls building ,Unit No 1901 – 1905,
19th Floor, Tower 2A-2B, Jupiter Mill compound,
Senapati Bapat Marg, Lower Parel, Mumbai 400 013

Sub: Grant of Consent

Dear Sirs,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Paisabazaar (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

A. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.

B. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.

C. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.

D. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL

E. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.

F. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Paisabazaar authorizing Paisabazaar to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Paisabazaar to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Paisabazaar to obtain my Consumer Credit Information.

G. I understand that in order to deliver the product to me, I hereby authorize Paisabazaar, to obtain my Consumer Credit Information from TUCL.

H. By submitting this registration form, I understand that I am providing an express adhoc one-time written instructions for Paisabazaar to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Paisabazaar account. I further authorize Paisabazaar to retain a copy of my information for use in accordance with the terms of use of this service, Paisabazaar’s Terms of Use and Privacy Policy.

I. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

J. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.

K. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Yours faithfully,
Name :

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :20/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EQUIFAX TERMS AND
CONDITIONS

I Mr./Ms. -------------------- ---------------------residing at ------------------------ ---------------------------------------- do hereby authorise Paisabazaar Team ,to do all acts on my behalf as may be necessary including to execute/sign application(s), make payment of applicable fees* and generally to all other acts as may be necessary to receive, on my behalf and at my request, my Credit Information Report (CIR) from Equifax Credit Information Services Private Limited("Equifax") at the following address/email id:

I hereby confirm that all the powers hereby conferred may be exercised by officer(s) or manager(s) / agent(s) / employees of the Paisabazaar who is duly authorized by the Paisabazaar.

I hereby confirm, agree, undertake and accept that I shall at all times be solely responsible for all the above actions and omissions of the Paisabazaar shall be binding on me as though such actions had been carried out by me directly. I further confirm that my CIR shall be used only for the purpose as mentioned in the attached standard terms and conditions and I shall be solely liable for, and indemnify and hold harmless Equifax for and against, any and all third party claims or damages or proceedings of any kind, arising from or in connection with (a) any misrepresentations, incorrect information or omission of any critical information in my application, or (b) furnishing my CIR based on this authorization letter, and shall not at any time hold Equifax or its affiliates and their respective officers, directors, employees or representatives liable in this respect.

I hereby also confirm that I have only appointed Paisabazaar to be my authorized agent/representative for collection of my CIR.

I undertake to keep Equifax intimated and informed at all times, of any renewals or termination of the authorization to Paisabazaar or any amendments, modifications or changes in the terms governing the obligations or my relationship with Paisabazaar.

I shall at all times co-operate with Equifax and execute and deliver to Equifax such instruments and documents and take such other actions as may be required by Equifax from time to time in connection with this authority letter.

By signing on this authorization letter, I hereby acknowledge and accept the Standard Terms and Conditions mentioned above.

Date : 20/09/2021

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :20/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

EXPERIAN TERMS AND
CONDITIONS

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM EXPERIAN.

YOU HEREBY IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND PAISABAZAAR AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU HEREBY ALSO AGREE AND ACKNOWLEDGE THAT FOR PAISABAZAAR TO SERVICE YOU AS A CUSTOMER, THE CREDIT INFORMATION SHALL BE SHARED BY EXPERIAN WITH YOU AND PAISABAZAAR ON A MONTHLY BASIS. YOU FURTHER ALSO AGREE AND CONSENT TO RECEIVE SUCH CREDIT INFORMATION DIRECTLY FROM EXPERIAN AND ALSO THROUGH YOUR PAISABAZAAR ACCOUNT AS PER YOUR INDEPENDENT REGISTRATION WITH PAISABAZAAR.

Please read the Terms and Conditions of this document carefully before accepting. By clicking on the "I ACCEPT" button below, you are expressly agreeing to access the Experian Credit Information Report and Credit Score (as defined in the Important Information Section below) (together referred as "Credit Information") and share a copy of the Credit Information with Paisabazaar in the "as is" format. Please click on the link below to read and understand the Important Information section below.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

PAISABAZAAR/ We/ Us can only access your Credit Information as your authorized representative and we shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from us on the Website. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

We shall protect and keep confidential the Credit information both online and offline and use best in class security measures in line with applicable laws. The Credit Information shared by You, or received on your behalf shall be destroyed, purged, erased promptly upon the earlier of: (i) your written request to terminate this relationship with Paisabazaar (ii) the completion of provision of the Services by us to you.

Governing Law and Jurisdiction The relationship between you and the Parties shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of [Mumbai].

Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
"Credit Information Report" means the credit information / scores / aggregates / variables or reports which shall be generated by Experian;
"Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.
"CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
PLEASE READ THE ABOVE MENTIONED IMPORTANT INFORMATION AND CLICK ON "ACCEPT" FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH YOU AND PAISABAZAAR, IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.
BY CLICKING "ACCEPT" YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN. THE TERMS AND CONDITIONS MENTIONED HEREIN MAY CHANGE IN ORDER TO COMPLY WITH GOVERNING LAWS OF THE COUNTRY AND THE CONSUMER SHALL BE BOUND TO ANY CHANGES TO THIS AGREEMENT

Name :
Date : 20/09/2021

I hereby appoint Paisabazaar as my authorised representative to receive my credit information from the following bureau partners :

I hereby unconditionally consent to and instruct the above bureaus to provide my credit information to me and Paisabazaar on a month to month basis. I understand that I shall have the option to opt out/unsubscribe from the service.

Name :
Date :20/09/2021

CC:
Paisabazaar.com,
Paisabazaar Marketing and Consulting Private Limited

CRIF HIGH MARK TERMS
AND CONDITIONS

This End User Agreement (the "Agreement") is made between you (the "User" or "You") and Paisabazaar Marketing and Consulting Pvt Ltd ("PaisaBazaar"), a private limited company having its registered office at Plot No 119, Sector-44, Gurgaon-122001, Haryana ("PAISABAZAAR", "Us" or "We", which term shall include its successors and permitted assigns). The User and PAISABAZAAR shall be collectively referred to as the "Parties" and individually as a "Party".

YOU HEREBY APPOINT PAISABAZAAR AS YOUR AUTHORISED REPRESENTATIVE TO RECEIVE YOUR CREDIT INFORMATION FROM CRIF HIGH MARK. BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE CRIF HIGH MARK CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS "CREDIT INFORMATION"). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY CRIF HIGH MARK TO YOU AND PAISABAZAAR BY USING CRIF HIGH MARK TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN. YOU ALSO ACKNOWLEDGE THAT YOU SHALL NOT RAISE ANY CLAIM OR HOLD LIABLE CRIF HIGH MARK CREDIT INFORMATION SERVICES PRIVATE LIMITED IN RELATION TO YOUR CREDIT INFORMATION REPORT AND CREDIT SCORE PROVIDED OR TO BE PROVIDED BY CRIF HIGH MARK TO PAISABAZAAR.

Terms and Conditions: Information Collection, Use, Confidentiality, No-Disclosure and Data Purging PAISABAZAAR shall access your Credit Information as your authorized representative and PAISABAZAAR shall use the Credit Information for limited end use purpose consisting of and in relation to the services proposed to be availed by you from PAISABAZAAR. PAISABAZAAR shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein.

The Parties agree to protect and keep confidential the Credit Information both online and offline. The Credit Information shared by you, or received on by us on your behalf shall be destroyed, purged, erased promptly upon request from the consumer or the consumer withdrawing the consent to retain such credit information / reports by deleting/deactivating the consumers account with Paisabazaar.

Governing Law and Jurisdiction Definitions: Capitalised terms used herein but not defined above shall have the following meanings:
" Business Day" means a day (other than a public holiday) on which banks are open for general business in Gurgaon and Mumbai.
" Credit Information Report" means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by CRIF High Mark;
" Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by CRIF High Mark.
" CICRA" shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.
IN CASE THERE IS ANY DISCREPANCY OR INABILITY IN COMPLETION OF ONLINE AUTHENTICATION, PLEASE SUBMIT YOUR SELF ATTESTED KYC DOCUMENTATION IN SCANNED COPIES FOR SHARING OF YOUR CREDIT INFORMATION BY CRIF HIGH MARK WITH YOU AND PAISABAZAAR (YOUR AUTHORISED REPRESENTATIVE).
ONLINE SUBMISSION - DOES NOT REQUIRE SIGNATURE AND EXECUTION"

Name :
Date :20/09/2021

More

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Updated: 08-07-2021 11:12:43 AM

In order to use Unified Payments Portal (UPI), an individual is required to register himself and create a unique UPI ID/VPA. UPI registration can be done using any UPI-enabled bank mobile application or any third-party application. After registration, one can start using UPI to send and receive payments. Let us find out more.

Table of Contents

What is UPI?
UPI Registration – Steps to Register
How to generate mPIN?
How to Send/Receive Money via UPI?
Top UPI Apps for Registration
Benefits of UPI
Frequently Asked Questions (FAQs)

What is UPI?

UPI or Unified Payments Interface is an instant payment platform which is strictly regulated by the Reserve Bank of India (RBI). It allows the users to transfer money directly from their bank account to the recipient’s bank account. Apps like BHIM, Google Pay and Amazon Pay, etc. use this platform to enable cashless as well as card-less bank to bank money transfer.

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UPI Registration – Steps to Register

Follow the steps explained below to register with UPI:

upi registration process
Step 1- Install either the UPI-BHIM app or your bank’s enabled UPI app from Google Play Store or Apple App Store

Step 2- Select your preferred language. Verify your mobile number. Select your bank account and account

Step 3- Create your profile by entering basic details like your name, virtual ID and password. The virtual ID you create will be your payment address

Step 4- Go to Add/Link/Manage Bank Account option on the app and link your bank and account number with the previously created virtual ID

Step 5- Create your MPIN. This will be your password required to proceed with the transaction

Step 6- You are successfully registered

Once registered, you need to generate your mPIN (Mobile Personal Identification Number). You will need to enter this mPIN every time you need to make a transaction. Let’s check how to set an mPIN.

How to generate mPIN?

Steps to generate mPIN are explained further:

First of all, make sure that the mobile number you’re using is linked to your bank account. Once this is established, you can generate your mPIN using either the online method or the offline method.

How to Generate MPIN Offline

1. Dial *99#

How to generate mPIN - Offline

2. Type 3-4 letters of your bank OR first 4 digits of your BANK IFSC Code and hit “Send”

How to generate mPIN - Offline

3. Select “Generate MPIN” from the options displayed on your mobile screen

How to generate mPIN or UPI ID offline

4. Enter the last 4 or 6 digits of your debit card number and the expiry date (MMYY) with a single space. E.g. 123456 1219

mPIN Generation

5. Now, generate your mPIN. It can be 4-digit or 6-digit mPIN depending on your bank. Enter it twice separated by a single space and hit the “Send” button. E.g.1234 1234

Steps to generate mPIN

You will receive a notification on successful registration of your mPIN. Your transaction reference number will also be given. Note this and keep it safe for any future reference

Offline mPIN generation

Steps to Generate MPIN Online

  1. Once you have downloaded the mobile app, you will be asked to create your mPIN for UPI Payments. When you click on it, a One Time Password (OTP) will be sent to your registered mobile number
  2. Enter the last six digits of your debit card and the expiry date of your debit card
  3. You have to create a unique mPIN for your UPI. This can be a 6-digit number or a 4-digit number as per your bank
  4. Click Submit and your mPIN will be generated

On successful generation, a pop-up message notification will display on your screen.

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How to Send/Receive Money via UPI?

Sending and receiving money via UPI is extremely easy. Follow the steps explained below for easy UPI money transfers:

Steps to Send Money via UPI

  1. Log in to your bank’s UPI-enabled mobile application. It can be BHIM UPI, Paytm and Amazon Pay, etc
  2. Go to UPI section (E.g. UPI Money Transfers, Send Money, etc.)
  3. Click on Make Payment/Send/Pay
  4. Enter the payee’s Virtual Payment Address (VPA) or scan UPI QR code
  5. Enter the amount to be transferred
  6. Enter your mPIN to authenticate your payment
  7. Once you hit the Send button, the money will be sent in seconds

Steps to Receive Money via UPI

  1. Login to your UPI-enabled mobile app
  2. Select the option- Collect/Request Money (in Paytm, it is Money Transfer “To Self Account”)
  3. Enter the payer/remitter’s VPA and the amount to be credited
  4. When you submit the request, a notification will be sent to the payer
  5. He will enter his mPIN to authenticate the transaction if he accepts the request
  6. When the transaction is complete, both the payer and payee will get notification of debit and credit

Top UPI Apps for Registration

Some of the best UPI apps to send or receive money digitally are:

BHIM App

Bharat Interface for Money or BHIM is a UPI-enabled mobile application which is regulated by the Government of India and thus carries the utmost level of security.

Know more here

Google Pay Tez

Google Tez is a UPI-enable mobile payments service provided by Google Inc. and is built by NPCI (National Payments Corporation of India). It is partnered with most of the major banks in India and is thus accessible to most of the users.

Know more here

SBI Pay

The State Bank of India has come up with its own UPI-based payment platform which customers can use for safe and quick fund transfers. This App used BHIM-UPI interface. It is also known as BHIM SBI Pay.

Know more here

Amazon UPI

Amazon Pay is a BHIM UPI enabled payment system which is an extension of Amazon India. Along with providing a virtual supermarket experience Amazon now also enables its users to make payments using Amazon Pay platform via UPI. Registered users of Amazon can set up Amazon Pay directly on the Amazon mobile app and also earn rewards up to Rs. 350.

PhonePe

PhonePe is a BHIP UPI enabled mobile app which is used for cashless/card-less transactions.

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Benefits of UPI

UPI is, by far, the easiest and one of the safest modes of transferring money online. Unlike other money transfer methods, UPI is available round the clock, seven days a week. Some other reasons why you must register on UPI are given below-

Benefits of UPI

No Need to Add Payee – In case of UPI, you just need to enter the payee’s Virtual Payment Address (VPA) or scan the UPI QR code and the amount will be sent immediately. This feature makes UPI ideal for emergency money transfers. For NEFT and IMPS transfers, you first need to add a beneficiary with your bank account which takes some time. Only after the beneficiary is successfully added can you transfer the money.

No Extra Charges – UPI entails zero transaction charges, as opposed to NEFT and IMPS that charge a minimal amount as a transaction charge.

For NEFT, it is at least Rs 2.5 per transaction while IMPS fund transfer costs a minimum of Rs 5. On the other hand, UPI Transfer is completely free of charges.

Higher Limit – UPI offers its users a higher transaction amount as compared to mobile wallets. In the case of e-wallets, the maximum transaction amount is usually restricted to Rs 20,000. However, in the case of UPI, you can transact up to Rs 1 Lakh per transaction.

Safe and Secure – Making payments through UPI is the safest as you do not have to share your personal details like account number, etc. All you need to share is your VPA which does not disclose any of your personal information.

Frequently Asked Questions (FAQs)

Q. What is UPI registration?

UPI registration is the process of listing or rolling oneself on a UPI app to process transactions. To use UPI as a payment mode, a customer is required to register himself and create a unique UPI ID or Virtual Payment Address (VPA). This ID is used to send and receive money using UPI. Without UPI registration or creating a VPA, the customer cannot use this payment mode.

Q. How do I join UPI?

To start using UPI for transactions, you will have to register yourself on a UPI enabled bank’s app or a 3rd party app such as BHIM UPI, PhonePe, etc. First of all, download the app and set-up by selecting a language, mobile number, and then create your unique VPA. This unique VPA/ID will be used for transactions. After setting up your account, go to ‘Link Account/Add Account’ and link your bank account with the VPA. Finally, set an MPIN and you will be registered to use UPI.

Q. How is UPI ID created?

UPI ID, also called Virtual Payment Address (VPA), can be created using a UPI-enabled bank application or a 3rd party app. Download the app and set-up your account. After this, go to ‘create UPI ID’ and on the next screen, enter the prefix for your VPA (for example abcd@upi). Click to continue and your UPI ID is created. You can use this unique ID to receive and send money using UPI.

Q. How to do UPI registration using BHIM UPI?

To perform UPI registration using BHIM UPI, you will need to download the application from either Google Playstore or Apple App Store. After that, select a language and permit the app to send an SMS to verify. Then, on the homepage, click on ‘create UPI ID’. Enter a prefix to your unique UPI ID and click ‘continue’. 

Q. Is it safe to make payments via UPI?

UPI is a safe platform to send or receive money directly from/to your bank account. This system is regulated by the government and thus is quite safe. However, to safeguard at your end, it is advised to never share your mPIN or UPI ID with anyone. And keep on changing it frequently. It is also advised not to make any online transactions using public networks (wifi networks offered by restaurants and cafes, etc.). Always use safe networks, i.e. your home wifi connection or your mobile network.

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