HiWi Forex Transaction Services Private Limited (CIN: U67190MH2022PTC383136), a company incorporated under the Companies Act, 2013, with its registered office at 802, B Wing, 8th Floor, Naman Midtown, Senapati Bapat Marg, Dadar West, Mumbai – 400028, India (“HiWiPay”, “Company”, “we”, “our”, or “us”), operates the HiWiPay Platform and provides cross-border remittance facilitation, forex transaction processing, and related financial services.

These Terms of Use (“Terms”) apply to all customers, users, entities (“Customer” or “you”) that access or use the Platform or Service. By accessing, registering on, or using the Platform or Services in any manner, you acknowledge that you have read, understood, and agree to be legally bound by these Terms, the Privacy Policy, and any other policies or notices published on the Platform.

If you do not agree to these Terms, you must immediately cease access to and use of the Platform. Your continued use of the Platform after any update to these Terms constitutes acceptance of the revised Terms.

These Terms, together with the Privacy Policy and any applicable service-specific terms, constitute the entire agreement between you and HiWiPay with respect to your use of the Platform and Services.

1. Definitions and Interpretation

The following terms carry the meanings set out below. Additional terms are defined where first used in these Terms.

In these Terms, unless the context otherwise requires: words importing one gender include all genders; singular includes plural and vice versa; references to “including” or “include” are without limitation; headings are for convenience only and do not affect interpretation; references to any law or regulation include amendments, re-enactments, and subsidiary legislation made thereunder; and references to “writing” include electronic communications where permitted by law.

2. Eligibility and Registration

2.1. Eligibility Criteria
Use of the Platform and Services is restricted to persons who:

• are at least 18 years of age and competent to enter into legally binding contracts under the Indian Contract Act, 1872;
• are resident individuals in India holding a valid resident savings bank account;
• hold a valid Permanent Account Number (PAN) and Aadhaar card (or are otherwise able to complete KYC as required by applicable law);
• are not classified as a Politically Exposed Person (PEP) at a high-risk level, nor have been designated delinquent by any bank, financial institution, or regulator;
• are not subject to any sanctions, debarment, or restrictions under applicable law; and
• are using the Platform and Services for their own purposes and not as an agent or intermediary for another person (unless otherwise expressly permitted by HiWiPay in writing).

Minors (persons under 18 years) are not eligible to access the Platform or avail of the Services. If a minor wishes to use the Services, such use must be carried out by a parent or legal guardian on the minor’s behalf, who shall be responsible for compliance with these Terms.

Non-residents of India who access the Platform do so at their own risk and are solely responsible for ensuring that such access and any transactions are lawful under applicable Indian and foreign laws.

2.2. Registration
Limited browsing access to the Platform is available to Visitors without registration. To avail of the Services (including the Remittance Facility), you must register as a User by providing accurate, complete, and current information as prompted during registration.

By registering, you agree to:
• provide true, accurate, and complete registration information and to update such information promptly if it changes;
• not register more than one User Account;
• maintain the confidentiality and security of your User ID and password and not share them with any third party;
• be solely and fully responsible for all activity occurring under your User Account, including any unauthorised use; and
• notify HiWiPay immediately at exim@hiwipay.com
if you become aware of any unauthorised access to or use of your User Account, or any breach of security.

HiWiPay and its Authorised Partners reserve the right, in their sole discretion, to reject any registration application, suspend or terminate any User Account, or refuse access to the Platform or Services, including where KYC or AML diligence checks are unsatisfactory or where the User is found to be in breach of these Terms. Notification of the reasons for such action may not always be possible due to regulatory or legal constraints.

3. The Platform and Services
   

3.1. Nature of Services

HiWiPay provides a technology platform that facilitates cross-border remittances and forex transactions through Authorised Partners (licensed banks and Authorised Dealers under FEMA). HiWiPay’s role is that of a technology intermediary; the actual remittance and foreign exchange conversion is performed by Authorised Partners.

Nothing on the Platform constitutes financial, investment, tax, or legal advice. Users are advised to consult qualified professionals before making financial decisions.

3.2. Availability and Changes
HiWiPay reserves the right, at its sole discretion and without prior notice, to:
• introduce, modify, suspend, or discontinue any feature, service, or facility on the Platform;
• change the fees, charges, exchange rates, or terms applicable to any Service; and
• restrict access to the Platform or Services in whole or in part.

HiWiPay will endeavour to provide advance notice of material changes where practicable. Continued use of the Platform following any changes constitutes acceptance of the revised terms.

3.3. Third-Party Services
Certain features of the Platform may involve or link to third-party services, websites, or applications. HiWiPay makes no representation or warranty regarding such third-party services and is not responsible or liable for their content, availability, security, or data practices. Your use of third-party services is governed by the terms and policies of those third parties, which you should review before use.

4. Prohibited Transactions and Acceptable Use

4.1. Prohibited Remittance Purposes
Certain remittances are prohibited under FEMA and RBI guidelines. These include remittances out of lottery winnings or gambling income; purchase of lottery tickets or banned publications; forex trading or speculation abroad; payments related to call-back telephone services; remittances for margin calls to overseas exchanges; transactions involving Nepal or Bhutan; purchase of FCCBs in overseas secondary markets; and any transaction requiring prior Central Government approval under the Foreign Exchange Management (Current Account Transactions) Rules, 2000.

This list is non-exhaustive. Users are responsible for familiarising themselves with and complying with all applicable RBI regulations and FEMA rules regarding permissible purposes for outward remittances.

4.2. General Prohibited Conduct
Users and Visitors must not use the Platform or Services to:
• violate any applicable law, regulation, or regulatory guideline, including laws relating to money laundering, terrorist financing, fraud, illegal gambling, or sanctions;
• provide false, inaccurate, misleading, or incomplete information in connection with registration, KYC, or any transaction;
• access or attempt to access another User’s account or impersonate any person or entity;
• engage in, facilitate, or assist any money laundering, terrorist financing, or sanctions evasion activity;
• use the Platform on behalf of a third party as an unlicensed agent or intermediary;
• transmit any malware, virus, trojan horse, worm, or other harmful or disruptive code;
• attempt to probe, scan, test, breach, or circumvent any security measure of the Platform;
• reverse engineer, decompile, disassemble, or attempt to derive source code from the Platform;
• reproduce, distribute, transmit, modify, or create derivative works from any content on the Platform without express written authorisation;
• use automated bots, scrapers, crawlers, or other automated means to access the Platform;
• engage in any activity that disrupts, degrades, or interferes with the operation of the Platform;
• resell, sublicence, or commercially exploit the Platform or the Services; or
• disclose confidential information relating to HiWiPay, its Authorised Partners, or other Users obtained through use of the Platform.

HiWiPay reserves the right to report any suspected illegal activity to law enforcement authorities, the RBI, FIU-IND, or other regulators without notice to the User.

5. Remittance Facility

The Remittance Facility is available only for purposes permitted under the RBI Liberalised Remittance Scheme (LRS) and applicable FEMA regulations. Resident individuals may remit up to USD 250,000 per financial year across all sources and purposes; you are solely responsible for ensuring your cumulative remittances remain within this limit. To initiate a remittance, you must be a registered, KYC-verified User and must transfer funds from your own resident savings bank account to the Authorised Partner’s designated account within the validity period specified at submission. The exchange rate applied is the rate prevailing at the time of actual conversion, which may differ from any indicative rate shown earlier. Submission of a transaction request does not guarantee processing, and HiWiPay or its Authorised Partners may reject any request without assigning reasons. You may cancel a transaction before funds are transferred; once funds are received by the Authorised Partner, cancellation is at their sole discretion, and any exchange loss will be deducted from your refund, bank charges, processing fees, and GST are non-refundable. Remittances under LRS are also subject to Tax Collected at Source (TCS) under Section 206C(1G) of the Income Tax Act, 1961, which will be collected by the Authorised Partner at the time of processing and reflected in your transaction breakdown, please consult your tax advisor regarding applicability and credit.

6. Fees, Charges, and Exchange Rates

HiWiPay and its Authorised Partners may charge fees for the Services, including transaction fees, conversion margins, and applicable taxes (including GST). All applicable charges will be disclosed to the User prior to transaction confirmation.

The following apply in respect of fees and charges:
• Exchange rates are indicative until the time of actual conversion by the Authorised Partner. The rate applied to a transaction is the rate prevailing at the time of conversion, which may differ from any quoted rate.
• HiWiPay or a Referrer may charge a commission or convenience fee, which may or may not be itemised separately but will be included in the total amount displayed before transaction initiation.
• HiWiPay has no control over and is not responsible for fees charged by correspondent banks, Beneficiary Banks, or other intermediaries in the remittance chain.
• The User and Beneficiary are not entitled to any interest on funds held during the processing or course of remittance.
• Referrers may fix their own charges per transaction on the K2 portal, subject to the capping limits set by HiWiPay from time to time.

HiWiPay reserves the right to revise fees and charges at any time. Updated fee information will be published on the Platform prior to taking effect.

7. KYC, AML/CFT, and Regulatory Compliance

HiWiPay and its Authorised Partners are required to conduct Know Your Customer (KYC) and anti-money laundering (AML) / countering the financing of terrorism (CFT) due diligence in accordance with the PMLA, RBI KYC Master Direction, and other applicable regulations.

By registering and using the Services, the User:
• consents to HiWiPay and its Authorised Partners conducting KYC verification, credit history checks, and AML/sanctions screening using the information provided and third-party databases;
• authorises HiWiPay and its Authorised Partners to share KYC information with government bodies, regulators, and authorised verification agencies (including UIDAI for Aadhaar authentication and NSDL for PAN verification) as required by law;
• agrees to provide additional information or documentation promptly upon request; and
• acknowledges that transactions may be held, delayed, or rejected at the discretion of HiWiPay or the Authorised Partner if any transaction is considered suspicious, unusual, or non-compliant, without disclosure of the reasons, and that HiWiPay and the Authorised Partner shall not be liable for such action.

Users are reminded that HiWiPay is obligated to report suspicious transactions to FIU-IND under PMLA and to comply with directions from the RBI and other regulators. Compliance with these obligations is non-negotiable and the User’s acceptance of these Terms constitutes acknowledgement of this.

8. Intellectual Property Rights
   

All intellectual property rights in the Platform, including its design, text, graphics, logos, trademarks, service marks, software, databases, and other content, are owned by or licensed to HiWiPay. Nothing in these Terms grants you any right, title, or interest in such intellectual property.

You are granted a limited, personal, non-exclusive, non-transferable, revocable licence to access and use the Platform solely for the purpose of availing the Services in accordance with these Terms. This licence does not permit you to:
• copy, reproduce, distribute, publicly display, or create derivative works from any Platform content, except as strictly necessary for your personal use of the Services;
• use any of HiWiPay’s trademarks, logos, or branding without express written consent; or
• sub-licence, sell, or commercially exploit any part of the Platform or its content.

You may print or download a copy of Platform content for your personal reference only. Any other use requires HiWiPay’s prior written consent.

9. Data Protection and Privacy

The collection, use, and processing of your Personal Data by HiWiPay is governed by the Privacy Policy, which is incorporated into these Terms by reference and is available at www.hiwipay.com/privacy. By using the Platform and Services, you acknowledge and agree to the terms of the Privacy Policy.
By agreeing to these Terms, you also authorise HiWiPay and its group companies and Authorised Partners to share your data with third parties to the extent described in the Privacy Policy and as required by applicable law, including with regulators, credit bureaus, Authorised Partners, and correspondent banks involved in your transactions.

Any processing of Personal Data will be carried out in accordance with the DPDP Act, the IT Act, PMLA, and other applicable laws.

10. Disclaimers

10.1. No Warranties
The Platform and Services are provided on an “as is” and “as available” basis, without any representation or warranty of any kind, express or implied, including without limitation warranties of accuracy, completeness, fitness for a particular purpose, merchantability, non-infringement, or uninterrupted or error-free operation, to the fullest extent permissible under applicable law.

10.2. Security
While HiWiPay implements security measures it considers appropriate, it does not represent or warrant that the Platform is immune from denial-of-service attacks, unauthorised access, malware, or other security threats. Internet communications are inherently not completely secure and HiWiPay shall not be responsible for unauthorised interception of communications.

10.3. Third Parties and Correspondent Banks
The Remittance Facility depends on the actions of Authorised Partners, correspondent banks, Beneficiary Banks, and other third-party intermediaries. HiWiPay disclaims all responsibility for delays, failures, or errors caused by any such third party, including delays in the credit of funds to the Beneficiary’s account.
HiWiPay does not control and is not responsible for any impounding, blocking, or seizure of funds by regulators or authorities in India or the Relevant Country.

10.4. Exchange Rates and Market Information
Exchange rates and any market information displayed on the Platform are indicative only and subject to change. HiWiPay makes no representation as to the accuracy or completeness of any rate or market information displayed.

11. Limitation of Liability

To the fullest extent permitted by applicable law, HiWiPay and its Authorised Partners, affiliates, directors, officers, employees, agents, and licensors shall not be liable for:
• any indirect, incidental, special, exemplary, punitive, or consequential loss or damage, including loss of profits, revenue, data, goodwill, or business opportunity;
• any loss or damage arising from incorrect beneficiary details provided by the User;
• any failure, delay, or error in processing caused by Authorised Partners, correspondent banks, Beneficiary Banks, payment networks, or other intermediaries;
• any loss arising from force majeure events, including natural disasters, system failures, power outages, telecommunications failures, strikes, or regulatory actions; or
• any loss arising from the User’s breach of these Terms, applicable law, or any declaration made by the User.

Without prejudice to the foregoing, the maximum aggregate liability of HiWiPay to any User under or in connection with these Terms shall not exceed the fees actually paid by that User to HiWiPay for the specific transaction or Service giving rise to the claim.

Any claim or cause of action arising out of or related to access or use of the Platform or these Terms must be filed within three (3) months of the date on which such claim or cause of action arose, failing which it shall be permanently barred.

12. Indemnity

You agree to indemnify, defend, and hold harmless HiWiPay, its Authorised Partners, affiliates, group companies, and each of their respective directors, officers, employees, agents, and successors, from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable legal fees) arising out of or relating to:
• your access to or use of the Platform or Services;
• your breach of these Terms, the Privacy Policy, or any applicable law or regulation;
• the inaccuracy or incompleteness of any information provided by you, including registration information, KYC documents, or transaction details;
• any unauthorised use of your User Account or User ID and password; or
• any claim, dispute, or difference between you and any third-party service provider or Beneficiary arising in connection with the Services.

13. Suspension and Termination

HiWiPay reserves the right, in its sole discretion and without prior notice, to:
• suspend or terminate your User Account or access to the Platform or Services;
• cancel pending transactions; or
• take any other action it deems appropriate,

in any of the following circumstances:
• breach of these Terms or any applicable law or regulation;
• failure to pass or maintain KYC or AML diligence requirements;
• the User’s death, bankruptcy, or legal incapacity;
• conduct that HiWiPay reasonably believes is fraudulent, illegal, or harmful;
• directions from a regulatory authority; or
• any other circumstance that HiWiPay, in its reasonable discretion, considers appropriate.

Until suspension or termination takes effect, the User remains responsible for all transactions and obligations incurred under their User Account. Termination does not affect any rights or obligations that have accrued prior to termination.

14. User Declarations

By initiating any transaction on the Platform, you are deemed to make the following declarations to HiWiPay and the Authorised Partner:

• I am a resident Indian as defined under FEMA, 1999.
• The total amount of foreign exchange purchased from or remitted through all sources in India during this financial year, including this proposed remittance, is within the USD 250,000 limit prescribed by the RBI under the LRS, or such other limit as may be in force.
• The purpose of this remittance is as stated in my transaction request and is a permitted purpose under FEMA and RBI regulations.
• The funds being remitted are my own funds originating from a resident savings bank account in India and do not originate from an NRO or other non-resident account.
• This transaction does not violate any exchange control law, FEMA regulation, PMLA provision, or any other applicable law in India or in the Relevant Country.
• This transaction is not for any prohibited purpose listed in Section 6 of these Terms or under the Foreign Exchange Management (Current Account Transactions) Rules, 2000.
• I am aware of the TCS obligations under Section 206C(1G) of the Income Tax Act, 1961, and have complied with all applicable income tax requirements in connection with this remittance.
• In the event of any enquiry from a statutory or regulatory authority, I undertake to provide all necessary information and documents and to indemnify HiWiPay and the Authorised Partner for any tax, interest, or penalty arising from my non-compliance.
• I agree that if this transaction is cancelled after submission, any exchange loss incurred by HiWiPay or the Authorised Partner shall be borne by me.

15. Referrers

Referrers who participate in HiWiPay’s referral programme are subject to separate referrer terms and conditions, which are incorporated herein by reference. Referrers:
• may set their own charges per transaction on the K2 portal, subject to the capping limits prescribed by HiWiPay;
• are responsible for ensuring that their referral activities comply with all applicable laws, including data protection laws (DPDP Act), consumer protection regulations, and SEBI or RBI regulations applicable to financial product distribution;
• must not make any representations about the Services that are false, misleading, or inconsistent with HiWiPay’s approved marketing materials; and
• are not agents, employees, or partners of HiWiPay and have no authority to bind HiWiPay.

16. Governing Law and Dispute Resolution

16.1. Governing Law
These Terms, the Platform, the Services, and all transactions and disputes arising therefrom shall be governed by and construed in accordance with the laws of India, without regard to its conflict of law rules.

16.2. Jurisdiction
Subject to Section 16.3, all disputes, claims, or controversies arising out of or in connection with these Terms, the Platform, or the Services shall be subject to the exclusive jurisdiction of the competent courts in Mumbai, Maharashtra, India. You hereby irrevocably submit to the personal jurisdiction of such courts and waive any objection on the grounds of inconvenient forum.

HiWiPay reserves the right to institute proceedings against a User in any court having jurisdiction under applicable law, including outside Mumbai, if it deems it necessary to protect its interests.

16.3. Dispute Resolution
In the event of any dispute arising out of or in connection with these Terms, the parties shall first attempt to resolve the dispute through good-faith negotiations. If the dispute is not resolved within 30 days of written notice, either party may refer the matter to arbitration under the Arbitration and Conciliation Act, 1996, before a sole arbitrator mutually appointed by the parties. The seat of arbitration shall be Mumbai; the language of arbitration shall be English.

Individual disputes shall be resolved on an individual basis. Class or representative actions are expressly excluded to the extent permissible under applicable law.

16.4. Changes to These Terms
HiWiPay reserves the right to amend these Terms at any time. Amended Terms will be published on the Platform with an updated effective date. Where changes are material, we will endeavour to notify registered Users by email or in-platform notification prior to the changes taking effect.

Your continued use of the Platform following publication of amended Terms constitutes your acceptance of the revised Terms. If you do not agree to the revised Terms, you must cease using the Platform and contact us to close your account.

17. Miscellaneous

17.1. Entire Agreement
These Terms, together with the Privacy Policy and any applicable service-specific terms or agreements, constitute the entire agreement between you and HiWiPay with respect to your use of the Platform and Services and supersede all prior agreements, representations, and understandings.

17.2. Severability
If any provision of these Terms is held to be invalid, unlawful, or unenforceable, such provision shall be severed and the remaining provisions shall continue in full force and effect. The parties agree to endeavour to replace any severed provision with a valid provision that as nearly as possible reflects the original intent.

17.3. No Waiver
No failure or delay by HiWiPay to exercise any right or remedy shall constitute a waiver of that right or remedy. No waiver shall be effective unless in writing and signed by an authorised representative of HiWiPay.

17.4. No Agency or Banker-Customer Relationship
Nothing in these Terms creates an agency, partnership, joint venture, employer-employee, or banker-customer relationship between you and HiWiPay. Use of the Remittance Facility does not create any form of bank account for the User. Funds held during remittance processing are not insured by any government authority.

17.5. Assignment
HiWiPay may assign, transfer, or sub-contract any of its rights or obligations under these Terms without your consent. You may not assign or transfer your rights or obligations under these Terms to any third party.

17.6. Notices
Notices from HiWiPay to Users may be given by email, in-platform notification, SMS, or post to the contact details registered by the User. Notices from Users to HiWiPay must be sent in writing to the registered office address or by email to exim@hiwipay.com
. HiWiPay may also publish general notices on the Platform, which shall have the same effect as individual notice. All communications under these Terms shall be in the English language.

17.7. Force Majeure
HiWiPay shall not be liable for any failure or delay in performance caused by circumstances beyond its reasonable control, including natural disasters, pandemics, acts of government or regulatory authorities, war, terrorism, system failures, power outages, internet disruptions, or labour disputes.

17.8. Limitation Period
Any claim or cause of action arising out of or related to the use of the Platform, the Services, or these Terms must be filed within three (3) months of the date on which the claim or cause of action arose, failing which it shall be permanently barred, to the fullest extent permissible under applicable law.

18. Contact and Grievance Redressal
    

For any questions, concerns, or complaints regarding these Terms or the Services, please contact:

HiWi Forex Transaction Services Private Limited
Customer Support: exim@hiwipay.com
Grievance Officer: Dewang Neralla
Address: 802, B Wing, 8th Floor, Naman Midtown, Senapati Bapat Marg, Dadar West, Mumbai – 400028, India
Website: www.hiwipay.com

Grievances will be addressed in accordance with the escalation matrix set out in the Privacy Policy and within the timelines prescribed by applicable law.