Terms Of Service
Terms Of Service
GCT Technologies Private Limited, is a private limited company incorporated under the laws of India and havingits registered office at, H-294, Plot 2A, First Floor, Kehar Singh Estate, Saidulajab, Lane No. 2, New Delhi, 110030 operating under the trade name of 'GalaxyCard' (herein after referred to as "GalaxyCard", which termshall refer to and include its owners, directors, investors, employees, officers, representatives, affiliates, or otherrelated parties). Persons availing of the GalaxyCard Services (as defined below), directly or indirectly, arereferred to herein, as "Users". Only natural person, i.e, citizen of India, can be Users, and no person other than anatural person with a valid, authorised account with GalaxyCard can avail of the GalaxyCard Services in anymanner whatsoever. This is an agreement between GalaxyCard and User, which together with the PrivacyPolicy (collectively referred to herein as the "Agreement") shall be binding on the User. By clicking the "I Agree"/ "Submit" button in the GalaxyCard app or by using the GalaxyCard Services on the GalaxyCardwebsite, User hereby agrees to be bound by the Terms and Conditions of Service set out hereunder for availing of the GalaxyCard Services and also the policies mentioned herein and to any modifications, amendments orupdates made to the said Agreement.
GalaxyCard operates as a deferred payment option and operates in association with other financial institutions, e-commerce merchants ("GalaxyCard Partners") and merchant partners ("GalaxyCard Services").. The User isrequired to sign up and register with GalaxyCard through inter alia, the GalaxyCard Mobile Apps, ("GalaxyCardApp"), and the GalaxyCard website at www.galaxycard.in ("GalaxyCard Website", and collectively with theGalaxyCard App referred to as the "GalaxyCard Platform") to avail the GalaxyCard Services and to obtaininformation about GalaxyCard including but not limited to offers, policy, schemes etc.. The general termsgoverning the use of the GalaxyCard Platform are set out herein. Please note that there shall be additionalproduct and transaction specific terms and conditions applicable to the GalaxyCard Services.
Users are required to read, review, understand and agree to the terms hereunder for using or availing of the GalaxyCard Services, Every User shall ensure that no third party uses its account on the GalaxyCard Platform,and that such User uses the GalaxyCard Services only for its own account and for its own benefit. Users shall bepermitted to avail of the GalaxyCard Services including the User Account only after reading the terms herein and in the policy documents set out hereunder and after accepting the same.
Capitalised terms used herein but not defined above shall have the following meanings:
““Credit Information” means collectively the Credit Information Report and Credit Score which shall be generated by Experian;
“CICRA” shall mean the Credit Information Companies (Regulation) Act, 2005 read with related rules and regulations and any amendment thereof.
“Experian” shall mean Experian Credit Information Company of India Private Limited
"User Account" shall mean any account opened by a User with GalaxyCard to avail of the GalaxyCard Servicesin any form.
“Credit Cycle” shall mean the time period between bill statement issued on user to user basis.
Information Collection, Use, Confidentiality, No-Disclosure and Data Purging
GalaxyCard can only access your Credit Information as your authorized representative and shall use 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.
The Parties acknowledge that the Credit Information provided to GalaxyCard is solely the property of Experian and the user (as appropriate). 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 or returned to Experian promptly either on the user seeks GalaxyCard expressly to do so and/or seeks to revoke the consent OR if it is mandated or intimated by regulators. 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 Delhi, India.
Limitations on use of GalaxyCard services
GalaxyCard Services are provided subject to the application of the User being accepted and approved.
GalaxyCard does not provide any warranty of any kind, either express or implied, in relation to the servicesprovided by the GalaxyCard Partners
GalaxyCard Services are strictly available for use only within India. Any jurisdiction other than India is a prohibitedjurisdiction ("Prohibited Jurisdiction"). Users are not permitted to use the GalaxyCard Services in any ProhibitedJurisdiction. Any Prohibited Jurisdiction use will amount to a breach of this Agreement, and GalaxyCard shallforthwith be entitled to terminate this Agreement or account of the user. Nothwithstanding, anything in case dues are to paid by the user for availing GalaxyCard Partners the same have to be done.
GalaxyCard may use third party service providers to render some or all of the GalaxyCard Services, or for facilitating the same. User agrees to the use of such third parties, and hereby provides consent for collection,analysis, use, dissemination and retention by such third parties of any and all personal data, or and sensitivepersonal data and information, of the User. User shall be bound by the terms of service of such third parties tothe same extent as GalaxyCard would be bound. GalaxyCard shall however not be responsible or liable forany act, inaction, commission or omission by such third parties, including with respect to data protection, privacy,security practices, or compliance with applicable laws and regulations with respect thereto, including (but notlimited to) the Information Technology Act 2000.
GalaxyCard reserves the right to modify or amend the terms herein, Users, who may decide to opt out of theGalaxyCard Services at such time by intimating GalaxyCard of such intention in writing after payment of dues or after curing any defect which he have to clear if he was still a user.
Continued use of the GalaxyCard Services shall be deemed to amount to confirmation and acceptance ofthe modified or altered terms hereof.
The Parties agree that the terms set out hereunder are in consideration of good and valuable consideration, andshall be and are intended to be binding on both Parties.
Scope of services
The GalaxyCard Services can be availed by using the pre-assigned credit limit that GalaxyCard or adding money to the GalaxyCard account(“GalaxyCard Wallet”) has provided to the user at the time of the user signing upwith GalaxyCard through its website and/or mobile app. Users can pay for the goods and services they haveavailed from the GalaxyCard partners by using their credit limit, by way of scanning the relevant QR code at themerchant or by availing the merchants services directly within the GalaxyCard app. Users are required to ensurethat their transactions with the GalaxyCard Partner are for legal purposes.
User may open a User Account subject to the following conditions:
Opening of User Account.
User may complete the sign-up process on the GalaxyCard Platform and create a User Account, as applicable,subject to the terms contained herein. shall comply with the procedures prescribed for opening the User Account,including providing a valid and subsisting email address and completing the verification process andproviding all requisite details and documents.
GalaxyCard reserves the right to reject opening, registration or validation of a User Account on any grounds itdeems suitable, at its sole discretion, with due regard to legal and regulatory reasons.
Data Disclosures & Consent
User hereby allows access to and consents to GalaxyCard availing of and using the personal data and sensitivepersonal data and information of the User including but not limited to:
Name, address, contact information identification documents and details contained therein;
Mobile numbers, geographic location and IP addresses from which the GalaxyCard Services are being accessed;
Identity numbers and details of all equipment utilized to access or avail of the GalaxyCard Services, includingdevices from which the GalaxyCard Services are accessed; the device numbers, model and such or other detailsthat may be culled out through automated processes; IMEI, ISMI, operating system, device model, RAM, CPUand other details for computers and mobile phones, unique installation number, iCloud device or email id forApple products, fingerprinting details and other sensitive personal information required for allowing orcompleting the transactions envisaged herein, as GalaxyCard's sole discretion.
PAN Number and Aadhar Number and accompanying details for authentication and bureau checks for users who are inclined to use the GalaxyCard Services.
For assessing the user's creditworthiness (i.e. the confidence GalaxyCard has in the user's ability and intent topay his dues/bills), GalaxyCard may read, parse and analyse the users financial documents including but notlimited to the users bank statements, Insurance policies, Details of Investments, Details of existing loans andcredit cards, Income tax forms and Income tax receipts.
GalaxyCard may call upon User to furnish additional details and / or documents, either pursuant to governmentalor regulatory compliance or due to modifications in any terms contained herein. User hereby agrees andundertakes to comply with the same within the timelines prescribed.
An Aadhaar card must be provided by all prospective Users who are willing to opt for credit limit facility of GaaxyCard Service, as GalaxyCard will use Aadhaar details to carry out verification procedures for each suchUser's identity and residence. However, GalaxyCard may call for additional documents as well, at its discretion.
Verification and limit assignment process.
GalaxyCard shall, at its sole discretion activate the User Account upon verification of the details provided andprovide the limit available only if it is confident in the user's repayment ability in such User Account.
GalaxyCard may, at its sole discretion, send to the User intimation of reasons for non-activation of a User Account. GalaxyCard is not under any obligation, however, to provide such notice.
Only natural persons with a valid Indian PAN Card and an Aadhaar card may apply for a User Account and availof any part of the GalaxyCard Services. Upon verification, if the PAN Card details furnished by a User are found tobe falsified, invalid or otherwise inaccurate, GalaxyCard shall forthwith terminate the relevant User Accountwithout notice to the concerned User. However, termination of the User Account under the above circumstances shall not be deemed by the user as waiver of any dues or any cure which he had to clear if he/she was user.
Existing Users may be called upon to comply with the verification process contained in this Agreement. In theevent of termination or deactivation of an existing User Account, Users shall be duly intimated by GalaxyCard,along with reasons for such deactivation and the procedures for redress (if any). Delay in termination of such User Accounts shall not amount to a waiver of the mandatory information and documentary requirementscontained in this Agreement and in the AML Policy.
The credit limit assigned to a user is provided by registered financial institutions such as Banks and NBFC's(Non-Banking Financial Company) with which it has an existing partnership to provide such credit.
GalaxyCard is not a financial institution and does not lend any money or provide any credit limit on its own. Itmerely acts as a facilitator of credit, providing avenues for its user's to avail, spend, manage and repay their creditlimit. As such, the user agrees to be bound by the Terms and Service of the financial institution from which it hasreceived his / her credit limit in addition to the terms and service laid out here.
Terms of payment
User can use the GalaxyCard Services upto the limit available in their User Account. GalaxyCard on it’s own discretion and after obtaining prior consent of the user, shall increase the Credit Limit of the User. Users shall be bound by the policies,rules and User Guidelines prescribed by GalaxyCard periodically, the terms of which shall form part of thisAgreement.
Refund and Returns
GalaxyCard works as a deferred payment option and doesn’t provide any refund of any services being offered. Except, explicitly being declared before proceeding with transaction. Any unsuccessful transaction/ failed transaction through GalaxyCard shall be credited to GalaxyCard account.
Any fees levied on the user including but not limited to commission, processing fees, enrollment in any specific service, charges on specific transaction are non refundable in nature, unless the said transaction fees was unsuccessful on the end of GalaxyCard.
Re-Payment / Payment of dues
User understands that he is liable to pay for his spends done through GalaxyCard's credit limit at the end of his credit cycle. At the end of each credit cycle, GalaxyCard will issue a bill to the user which shall mention the due date for the payment required. Payment must be done before the due date to avoid late charges and penalties. The list of all such charges and penalties is available in the 'Schedule of charges' available at GalaxyCard's website www.galaxycard.in/mitc
User may pay their dues through any of the supported means including NEFT / IMPS / UPI / NACH / Net banking
User is hereby cautioned that GalaxyCard does not accept any payments in cash and has not authorised anyperson whatsoever to accept any payments in cash. User is advised not to give cash to any person, irrespective of any representations that such person may make with respect to creating an account or depositing suchamounts with GalaxyCard or with another User on behalf of such User. User is also hereby cautioned that eachUser Account is intended only for the use of that single User, and no other person.
Users are required to conduct all transactions in relation to the payment for their GalaxyCard Services only through their own, duly authenticated, and legally opened and maintained digital payment accounts in India. Allpayments shall be made in Indian Rupees (INR)
GalaxyCard may offer the repayment facility for consideration in the form of transaction fees, as intimated to Userprior to completion of the transaction. User hereby agrees to make the payment of such transaction fees, onterms set out on the GalaxyCard Website.
Any payments to be made by GalaxyCard to any User in relation to any transaction entered into between Users (and facilitated by GalaxyCard on the GalaxyCard Platform) shall be made after all appropriate deductions andwithholding is made, as per applicable Law.
In case of default or late payment, GalaxyCard reserves the right to use suitable means to collect dues includingelectronic and or physical communication to the user or user's approved contacts(references).
Interest Free period
GalaxyCard offers an interest free period of upto 45 days. The available interest free period shall varydepending on the exact date on which the transaction materialized and also on how many days areremaining in the existing credit cycle. The maximum interest free period is available on the first day of a creditcycle.
Fees and charges
To facilitate payment to merchants outside GalaxyCard's direct merchant network, GalaxyCard may levy a convenience fee, the exact amount of which shall be calculated and communicated to the user at the time oftransaction.
Gold purchased using GalaxyCard and it's partners cannot be used for trading. If the user has purchased anygold via GalaxyCard Partners, GalaxyCard reserves the right to sell his gold for recovery of unpaid dues in it’s discretion.
The proceeds from selling gold shall be credited to the user's GalaxyCard account only.
GalaxyCard has zero tolerance towards use of any portion of the GalaxyCard Services for or in connectionwith any illegal or unlawful purpose. Any such use of the GalaxyCard Services by any User shall result inforthwith termination of the relevant User Account, and GalaxyCard shall cooperate with governmental andregulatory authorities in the reporting and investigation of such actions (including by providing any informationand details that such User has provided to GalaxyCard).
GalaxyCard shall report all suspicious activities to the concerned authorities to ensure initiation of investigationand prosecution. Users are therefore strongly cautioned against misuse of the GalaxyCard Services in anymanner for illegal activities.
Users shall ensure strict compliance with the following user guidelines set out hereunder ("User Guidelines"):
Users shall ensure that they provide current, accurate, and complete information during the process of openingthe User Account, and shall ensure that all such information is updated immediately upon any change ofcircumstances, or when prompted to do so by GalaxyCard.
User shall not divulge their account details to any third parties, including other Users. Users shall be solely responsible for ensuring the confidentiality and protection of the data pertaining to their User Account.
User Account is restricted for a single user only who has registered with GaaxyCard in manner prescriber under the terms and condition and AML Policy (“Intended User”). Use of User Account is allowed for intended user and use by third party(including other user) is restrictly prohibited. Any attempt to open/ operate/ gain access user account is prohibited with or without the consent of the intended user of that account.
User shall be wholly responsible and liable for all activities that occur in relation to, or in connection, their UserAccount, irrespective of whether the User has personal knowledge or control in relation to such activities.
Users shall utilise the GalaxyCard Services only for their personal purposes, shall not use any part of theGalaxyCard Services, for or in connection with any action or conduct which may amount to a violation of anyapplicable Law. Users shall be solely liable for all consequences (whether under applicable Law or otherwise) ofany activities in connection with their User Accounts that contravene applicable Law in any manner whatsoever.
Without prejudice to the generality of the above, Users shall not use the GalaxyCard services for any unlawfulpurpose, including but not limited to money laundering, terrorism or any other illegal activity. Users shall also notuse or avail of the GalaxyCard Services to convert illegal or wrongful gains, including those from criminalactivities.
Users shall not use circumvention or obfuscating technologies to mask their IP addresses, or to hide transaction details, or attempt in any way to conceal or alter information or details that GalaxyCard is entitled to ascertain,analyse, collect or retain under applicable Law, or in accordance with the terms of the Agreement, the PrivacyPolicy or the AML Policy. Users shall not create or distribute any technologies for such purposes, or provide anyassistance to any other person in any manner for such purposes.
Users shall ensure that true and correct details are furnished to GalaxyCard including all information requiredfor the account opening process and the KYC process (both during User on-boarding and on an ongoing basis);transactional details and such or other information, details and clarifications that GalaxyCard may require fromtime to time.
Users shall not make any misrepresentation in any communication to GalaxyCard, or with respect to any information or details rendered to GalaxyCard at any time, and shall not otherwise attempt to misinform or misguide GalaxyCard in any manner. Users are hereby duly informed that GalaxyCard shall share all such detailswith regulatory or legal authorities, as required under applicable Law, and the User shall be solely responsible forthe correctness and veracity of the contents thereof. GalaxyCard shall have no liability whatsoever for anyinaccuracy or falsehood in any information, document or communication from a User.
User shall not misuse or abu