Terms of Use

1. Parties and Valid Consent

The terms and conditions hereunder shall apply to the use of the website www.piceapp.com, mobile application PICE Business Payments App and any other allied pages, software, features, content or application services Platforms offered or operated by Nanosecond Technologies Private Limited Company.

Any person logging on to and accessing or using or browsing any of the Platforms for the purpose of availing of any services provided by the company through any of the platforms shall be a User. You shall be deemed to have read and unequivocally accepted and consented to be bound by these Terms of Use including the Privacy Policy. These Terms of Use shall supplement and not override the terms of any specific written agreement for Services that the User and the Company may have entered. The services shall include any prospective future services that the company may provide to the user.

If You do not agree to these Terms of Use in any manner, please terminate Your use of this website and the other Platforms and/or uninstall Pice App.

This End User Agreement (the “Agreement”) is made between you (the “User” or “You”) and NANOSECOND TECHNOLOGIES PRIVATE LIMITED, a private limited company having its registered office at Ground Floor, 1350 Pice HQ, UrbanVault, 17th Cross Parangi Palaya, Sector 2 HSR Layout, Opposite to Gnan Shrishti School of Excellence, Bengaluru, Karnataka, 560102.

The User and Pice shall be collectively referred to as the “Parties” and individually as a “Party”.

2. Services

Subject to these Terms of Use and the various policies of the Company, the Company offers payment services which allow Users to make transactions using multiple modes of payments including net-banking, UPI, debit and credit cards. This includes adding of beneficiary/vendor/supplier/institutions' bank account details, verifying the same and storing the details in their account for future payments, as well as GST payments, rent, utility, and education fee payments.

3. Definitions

Capitalised terms used herein but not defined above shall have the following meanings.

4. Eligibility

You represent and warrant that you are competent and eligible to enter into a legally binding agreement and be bound by these Terms of Use. You shall not access and use the Services if you are not competent to contract under the applicable laws. You are eligible if you are 21 years of age or older, you are capable of entering into a legally binding agreement, you are not barred or otherwise legally prohibited from accessing or using the Pice App and Pice Services, you are an Indian resident with valid credentials and are legally eligible to carry on business in India.

If you allow anyone else to use your Pice account, you will be responsible for ensuring that such individuals comply with these Terms of Use. You will be responsible for and shall ratify all actions these individuals take in and/or through your account. You also acknowledge that Pice does not have the responsibility of ensuring that you meet the aforesaid eligibility requirements.

5. Account Registration

The Company provides for registration to its Users. The User may create an account on the Platform by inserting their valid personal information including KYC details as may be required by the Company.

You may only possess one account at a time, unless otherwise approved by Pice.

You are using this App only for lawful business purposes and no laws or regulations are violated in connection with the usage terms.

6. Account Inactivity and Deletion

You may delete or deactivate your account at any time by sending a written request to hello@pice.one. The Company shall process such deletion within 20 days of receiving the request.

If your account has no sign-in, successful transaction, or other affirmative interaction for 24 months, we may deem it inactive. After giving you 30 days prior notice to act, we may delete your Personal Data.

7. One Account Policy

Each User is permitted to maintain only one active account on the Pice Platform at any given time, unless Pice expressly grants written approval for additional accounts.

8. Transaction Disputes

The User may dispute a transaction within 24 hours from the date and time of the transaction. In case the money is debited and not credited to the intended beneficiary within 72 working hours, the money will be refunded to the Source Account within 20 working days from receipt of the User query.

9. Transaction Monitoring and Settlement Hold

All transactions are regularly monitored to identify suspicious or fraudulent activity. Certain transactions may be subject to fraud control procedures which may extend up to 48 hours from the initiation of the transaction.

10. Fees, GST and Refund Policy

For the purpose of availing services offered by Pice, Users may be charged a convenience fee or processing fee. Such fees will be communicated to the Users at the time of making payment on the Platform. All fees collected are non-refundable, except in scenarios solely determined by Pice.

The User understands that a charge of INR 2 is charged every time they link their card to Pice for the purpose of verification and activation. This charge is non-refundable.

10.1 GST and Tax on Platform Fees

All applicable taxes including GST, TDS, cess, levies, duties and other statutory dues arising from the underlying transaction shall be the sole responsibility of the User initiating the payment. Pice shall be responsible only for taxes applicable on its own Platform Charges. For illustration: if a User makes a payment of Rs. 1,118, where Rs. 1,000 represents the underlying payment and Rs. 118 represents Platform Charges inclusive of Rs. 18 GST.

10.2 Refund Timeline

Where Pice confirms a transaction was charged without delivery of payment, the refund shall be initiated to the Source Account within 20 working days from receipt of the User query.

11. Rewards Program

Pice has a rewards or loyalty program. Reward points called Pice Points may be earned for eligible payments. Points shall be valid for 30 to 360 days from issuance. Points not redeemed within the stated validity period shall expire and cannot be reinstated.

12. Prohibited Use of Platform

The Platform is exclusively designed for facilitating legitimate transactions including vendor payments, rent, GST, utility, and education fee payments. The following are expressly prohibited:

• Using the Platform to liquidate credit cards by transferring funds to friends, family, or oneself, or by any other mechanism that effectively converts credit limits into cash or liquid instruments outside normal commerce.
• Self-to-self transactions, circular or artificial payment flows, or transactions intended to obtain cashback, rewards, or credit benefits unlawfully.
• Adult goods and services, pornographic materials, tobacco, alcohol, body parts or organs, spam tools, child pornographic materials, copyright-unlocking devices, illicit drugs, gambling, counterfeit documentation, hacking materials, illegal goods or services, firearms, explosives, cryptocurrency, NFTs, virtual currencies, money laundering activities, and any other activity that is illegal, immoral or harmful.
• Routing or diverting funds to unrelated or unverified third parties.

Any use outside the permitted scope of business payments constitutes a material breach of these Terms of Use and may result in immediate account suspension, withholding of funds, and referral to law-enforcement authorities.

13. Data Privacy and Credit Bureau Consent

Experian and other consents, data purging within 6 months, and email or SMS parsing consent with opt-out rights.

14. AML, KYC and Compliance

The User undertakes and shall be compliant at all times with all applicable anti-bribery, data protection, tax and anti-corruption laws of India. The User agrees to be compliant with the provisions of all KYC, anti-money laundering and other guidelines and laws issued by the RBI and other authorities from time to time.

15. Intellectual Property Rights

All information, data, text, logos, photos, videos, software, graphics, interactive features or the like generated or provided through the Services or on the Platform may be protected by the intellectual property rights of persons other than the User. Such content may not be modified, rented, leased, loaned, sold, distributed, or dealt with in any other manner by the User. The User understands and acknowledges that the Company or its licensors own all rights, title and interests in and to the Platforms and Services. No confidential information contained in the Services may be disclosed by the User at any time, without the Company's prior consent.

16. Representations, Warranties and Indemnities

Each User hereby represents and warrants that:

• The User is competent to contract and fully eligible to avail the Services and use the Platforms.
• All information, data and documentation provided by the User to the Company at any and all times are true, accurate, correct and genuine.
• The User shall be liable for all liabilities arising in connection with the information or data provided.
• The User is solely responsible for understanding and ensuring compliance with all applicable laws.
• The User shall use the Platforms and avail the Services per the terms mandated by the Company and for no other purpose.
• The User shall not store any customer card or related data in any form or manner.
• The User's information technology systems and infrastructure are compliant with all applicable data security standards.

The User agrees to indemnify, defend and hold harmless the Company, its founders, directors, employees, officials, agents, assignees, affiliates and representatives, from any and all losses or liabilities arising out of or in connection with any discrepancy in documents or data submitted by the User, fraud, negligence or misconduct by the User, violation of any applicable law, breach of these Terms of Use, fines or penalties imposed by any third party on account of the User's transactions on the Platform.

17. Limitation of Liability

The Company shall at no time be liable for any direct, indirect, incidental, special, consequential, punitive or exemplary damages which may be incurred by the User including any loss of profit, loss of goodwill or business reputation, loss of data, cost of procurement of substitute goods or services, or other intangible loss. The Platform and Services are provided on an “AS IS” and “AS AVAILABLE” basis without warranties of any kind, whether express or implied.

18. Confidentiality

Confidential Information means non-public information that the Disclosing Party designates as being confidential in writing or orally, or which under the circumstances surrounding disclosure ought to be treated as confidential, including trade secrets, proprietary information, sensitive personal information, and financial details.

The receiving Party shall treat as confidential all Confidential Information and shall not use or disclose such Confidential Information except as expressly permitted. Exceptions: information which becomes generally known through no fault of the receiver; information known to the receiver at time of disclosure; information disclosed with prior written approval; or information disclosed pursuant to court or government order.

19. Suspension and Termination of Account

The Company reserves the right to suspend, restrict, disable, or terminate User accounts at its sole discretion, including for the following reasons:

• KYC details of the User being inaccurate, incomplete, false or misleading.
• User breaching these Terms of Use or other policies of the Company.
• User providing incorrect data or information to the Company.
• User being in violation of any applicable laws or guidelines.
• User engaging in any fraudulent or suspicious activity.
• User impersonating another person.
• Any other reason deemed fit by the Company.

Upon termination, the rights and licenses granted to the User herein shall terminate and the User must cease all use of and access to the Platform.

19A. Seller and Marketplace Terms

Either Party may terminate the Seller's access to the Platform by providing not less than 30 days prior written notice. Sellers must complete KYC verification and onboarding before transacting. Sellers are liable for chargebacks which Pice may deduct from settlements.

20. Force Majeure

The Company shall not be liable in any manner if the performance of any of its services or actions is delayed as a result of a force majeure event, meaning any event not in the Company's control, including but not limited to war, acts of God, directions under law or judicial authorities, hostilities, armed conflict, riots, fires, typhoons, cyclones, pandemics, power outages, internet or network outages, strikes, or failures of third-party service providers. The provision of Services by the Company is dependent on the actions of certain third parties, and the User agrees that there may be a delay or breakdown in the provision of Services due to any issues or breakdowns at source level.

21. User Communications

By accepting these Terms of Use, you expressly consent to be contacted by us, our agents, representatives, affiliates, or anyone calling on our behalf at any contact number or electronic address provided by you while registering your account.

The customer provides explicit consent to receive communication, including promotional and transactional calls or messages, from authorized Tele Marketers on the registered contact details. This consent shall remain valid for a period of 12 months from the date of provision.

21A. AI-Powered Features and Disclaimers

Pice may introduce AI-powered features including automated payment categorization, cash flow insights, and financial health summaries. All AI outputs are for informational purposes only and do not constitute financial or legal advice. Pice does not warrant the accuracy of AI-generated outputs.

22. Certifications and Memberships

Pice maintains PCI-DSS certification, ISO certification, FICCI membership and NASSCOM membership.

23. Grievance Redressal

The User may report violations through:

• Email: hello@pice.one
• Phone: +91 9663635025
• Registered Office: HSR Layout, Bengaluru

24. Disclaimers

All settlement of any funds shall be subject to completion of KYC obligations required under Applicable Law, including under the mandate of the Reserve Bank of India (RBI).

These Terms of Use shall be subject to such revision or amendment as acceptable to the Company from time to time. For material changes including changes to fees, data usage, dispute windows, or user rights, the Company shall endeavour to provide Users with not less than 30 days advance notice via the Platform, the registered email address, or in-app notification before such changes take effect. For non-material or administrative changes, revisions shall be effective as published on the Platform without prior notice.

The User is responsible for keeping updated with these Terms of Use from time to time, always understanding and ensuring compliance with all applicable laws, including guidelines issued by the RBI and all anti-money laundering laws. The User agrees and understands that the Company may permanently or temporarily cease to provide the Services at its sole discretion and without any prior notice. The Company reserves the right to disable the User's account and to prevent the User from accessing the Services.

25. Governing Law and Jurisdiction

These Terms of Use and any dispute or claim arising hereunder shall be governed by and construed in accordance with the laws of India. Users agree that any legal action, claim or proceedings arising out of these Terms of Use may be brought exclusively in the competent courts/tribunals having jurisdiction in Bengaluru, India, and the Users irrevocably submit themselves to the jurisdiction of such courts.