CREDIT INFORMATION SERVICE TERMS AND CONDITIONS

These Credit Information Service Terms and Conditions ("Terms and Conditions") constitute a computer-generated electronic record published in terms of Rule 3 of the Information Technology (Intermediaries Guidelines and Digital Media Ethics Code) Rules, 2021, as amended and read with the Information Technology Act, 2000, as amended and does not require any physical or digital signatures.

All capitalized terms used herein shall have the meaning ascribed to them under Section B (Definitions) below.

A. INTRODUCTION

1. PhonePe Limited (Formerly known as 'PhonePe Private Limited') ("PhonePe") provides the Service to enable fetching of your ("You/Your") Credit Information from Credit Information Company in relation to various products and/or services proposed to be availed by You from PhonePe/its affiliates/Financial Institutions, as applicable.
2. Please read each of these Terms and Conditions carefully before taking further steps to avail this Service as these Terms and Conditions contain important information about your legal rights, remedies and obligations. These Terms and Conditions constitute a legally binding agreement between You and PhonePe and shall govern Your access to and use of the Service. If you do not understand these Terms and Conditions or do not agree with any part of them, then you should not proceed to use the Service. By accessing or using the Service, You agree and accept to be bound by these Terms and Conditions.

B. DEFINITIONS

1. "Credit Information" means: (i) the amounts and the nature of loans or advances, amounts outstanding under credit cards and other credit facilities granted or to be granted, by any Credit Institution to its borrower; (ii) the nature of security taken or proposed to be taken by a Credit Institution from its borrower for credit facilities granted or proposed to be granted to such borrower; (iii) the guarantee furnished or any other non-fund based facility granted or proposed to be granted by a Credit Institution for its borrower; and (iv) the credit worthiness of any borrower of a Credit Institution;
2. "Credit Information Report" means the credit information report / Credit Score / aggregates / variables / inferences etc. generated by Credit Information Company using its tools, algorithms and devices including any other information provided in such credit information report which is construed as "credit information" as defined under the applicable laws;
3. "Credit Information Company" shall mean Experian Credit Information Company of India Limited and/or its affiliates, as applicable;
4. "Credit Institution" shall have the meaning ascribed to it under Section 2 (f) of the Credit Information Companies (Regulation) Act, 2005;
5. "Credit Score" means the score which shall be mentioned on the Credit Information Report which shall be computed by Credit Information Company;
6. "Financial Institutions" refers to PhonePe's partner banks / financial service providers.
7. "PhonePe Platform" means the software/software application/platform/website that is developed, owned and/or operated by PhonePe and/or its affiliates.
8. "Purpose" means access and use of Your Credit Information as provided to PhonePe by Credit Information Company in the capacity of Your authorized representative to offer/promote/curate personalized products and services of PhonePe/its affiliates/Financial Institutions. This also includes use of Your Personal Data as well as Credit Information as accessed by PhonePe, for the purpose of conducting any evaluation and/or assessment and/or investigation and sharing necessary Personal Data as well as results of such evaluation/assessment/investigation with its affiliates and/or Financial Institutions in connection with the Purpose;
9. "Service" consists of (i) PhonePe accessing Your Credit Information as your authorized representative and using the Credit Information in furtherance of the Purpose; and (ii) PhonePe enabling the fetching of Your Credit Information to be sent by the Credit Information Company to You on your registered email address and/or phone number (as applicable);
10. "Personal Data" means any data about an individual who is identifiable by or in relation to such data;

C. TERMS AND CONDITIONS

1. In connection with availing the Service, You hereby understand, agree and acknowledge the following:
   • 1.1. By selecting the check-box and clicking on 'Apply Now', You have requested for availing the Service and have provided Your unconditional and unequivocal consent to appoint PhonePe as Your authorized representative to share Your Personal Data as provided by You on the PhonePe Platform to Credit Information Company and to obtain Your Credit Information from the Credit Information Company for the Purpose as more fully described in these Terms and Conditions. (By choosing to de-select the check-box, You deny to provide Your consent for the purposes set forth hereinabove and cannot avail the Service).
   • 1.2. You hereby unequivocally and unconditionally authorize and direct Credit Information Company to share Your Credit Information with PhonePe on Your behalf.
   • 1.3. You agree that you may be required to record Your consent digitally and understand that by doing so, You are providing written instructions to obtain Your Credit Information from the Credit Information Company. You confirm that PhonePe has not made any promises or representations to You in order to induce You to provide Your Credit Information or seek any consent or authorization in this regard. You further confirm that the consent is provided by Your free will and not due to any solicitation by any person/entity. You further authorize PhonePe to obtain such information to verify Your identity and fulfill the Purpose.
   • 1.4. You hereby authorize PhonePe to do all of the following in connection with providing You the Service:
     • verify your identity and share Your Personal Data, as available with PhonePe, with the Credit Information Company;
     • request, receive, retain and store Your Credit Information from the Credit Information Company, including but not limited to a copy of Your Credit Information Report, Your Credit Score until the earlier of:
       • Your account on PhonePe Platform being de-activated by Yourself or by PhonePe and/or its affiliates;
       • Such time as Your Credit Information Report/Credit Score being required to be retained to satisfy the Purpose;
       • Expiry of a period of 6 (six) months from the date on which You last avail the Service; or
       • You withdraw Your consent to store or use such Credit Information;
     • use and analyse Your Credit Information and Personal Data and share Your Personal Data with affiliates of PhonePe to provide You with curated recommendations, general information and personalized offers of various products and services of PhonePe/its affiliates/Financial Institutions.
   • 1.5. Any other information provided to PhonePe shall be used, stored and shared by PhonePe in accordance with these Terms and Conditions in relation to the Service, until the earlier of: Your account on PhonePe Platform being de-activated by Yourself or by PhonePe and/or its affiliates; or until You make a request to PhonePe to opt out of this Service.
   • 1.6. PhonePe shall contact You through notifications, messages, or voice or any other mode of communication and the same shall not be regarded as unsolicited commercial communication. You expressly waive the Do Not Call (DNC) / Do Not Disturb (DND) registrations done on Your phone/mobile numbers and confirm that PhonePe may contact You through email or mobile number through calls or SMS or Whatsapp or such other mode of communication.
   • 1.7. The Service is provided to You subject to and in accordance with the terms and conditions of the arrangement between PhonePe and the Credit Information Company.
   • 1.8. PhonePe is not responsible for any products and/or services that may be provided by Financial Institutions. You further agree and acknowledge that the Financial Institutions may reject Your application for their products and/or services at their sole discretion and that PhonePe shall not be liable for the same.
   • 1.9. The Service is provided to You subject to You providing true and accurate information such as Your full name, date of birth, address of residency, PAN number, mobile number and any other information as sought on the PhonePe Platform.
   • 1.10. PhonePe does not control Your Credit Information, Credit Information Report and Credit Score and cannot alter, change or modify the same for You. However, if information in Your report is incorrect, you have the right to dispute it directly with the Credit Information Company through its official website.
   • 1.11. PhonePe does not guarantee that the information (including but not limited to the Credit Information, Credit Information Report or Credit Score) provided to PhonePe as part of the Service is the same information that may be used or reviewed by the Financial Institution to assess Your creditworthiness or eligibility for any particular product or service.
   • 1.12. There may be a failure to provide the Service by PhonePe or by the Credit Information Company in the event the information furnished by You does not match Your existing information available with the Credit Information Company and/or PhonePe for any reason whatsoever. There may also be a failure to provide the Service if the authentication process as prescribed by PhonePe is not successfully completed.
2. During the time when Your Credit Information is available with PhonePe, PhonePe agrees to protect and keep confidential Your Credit Information both online and offline.
3. The Credit Information shared by the Credit Information Company and received by PhonePe on Your behalf shall be destroyed, purged, erased upon the completion of the Purpose / expiry of 6 months from the date of PhonePe's receipt of Your Credit Information, whichever is earlier.
4. PhonePe makes no warranty, express or implied regarding the quality of the Service, including but not limited to whether or not:
   • the Service will meet your requirements;
   • the Services will be uninterrupted, timely or error free;
   • any products, information or material obtained by You in connection with the Service will meet Your requirements.
5. THE SERVICE IS PROVIDED ON AN "AS-IS", "AS AVAILABLE" BASIS AND PHONEPE EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT. IN NO EVENT SHALL PHONEPE BE LIABLE TO ANY PARTY FOR ANY DAMAGES OF ANY KIND, INCLUDING BUT NOT LIMITED TO DIRECT, INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGES, LOST PROFITS, LOSS OF USE, BUSINESS INTERRUPTION, OR OTHER ECONOMIC LOSSES, LOSS OF PROGRAMS OR OTHER DATA, WHETHER IN AN ACTION OF CONTRACT, NEGLIGENCE OR OTHER ACTION, EVEN IF YOU ARE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES ARISING OUT OF OR IN CONNECTION WITH THE USE OR INABILITY TO USE THE SERVICE, THE PHONEPE PLATFORM, OR ANY LINKED WEBSITE, OR ARISING OUT OF THE PRODUCTS/SERVICES OF THE FINANCIAL INSTITUTIONS OR ANY OTHER ACTION BY ANY FINANCIAL INSTITUTIONS OR BY VIRTUE OF THE SERVICE BEING PROVIDED / NOT PROVIDED OR ANY OTHER ACTION BY PHONEPE'S AFFILIATES OR BUSINESS PARTNERS.
6. You unconditionally and unequivocally agree to keep PhonePe, its affiliates, and its/their respective directors, shareholders, officers, employees, agents indemnified against any and all claims, liabilities, demands, losses, expenses, costs (including reasonable attorney's fees), regulatory actions, fines, penalties, or damages that they may suffer, incur or become subject to in connection therewith or arising from sharing and/or disclosing the aforesaid information including necessary Personal Information with the Financial Institutions, or arising out of Your violation of these Terms and Conditions.
7. These Terms and Conditions shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Bengaluru in regard to any dispute arising hereof.
8. PhonePe is entitled to assign its rights hereunder to any third person without taking Your prior written consent. You may not assign Your rights and/or under these Terms and Conditions to any person / entity without PhonePe's prior written consent.
9. You understand, agree and acknowledge that if any provision of these Terms and Conditions contravene or be illegal, invalid or unenforceable under the applicable laws, then such contravention, illegality, invalidity or unenforceability shall not invalidate the entire Terms and Conditions. Such provision shall be deemed to be modified to the extent necessary to render it valid, legal and enforceable, and if no such modification shall render it valid, legal and enforceable, then the Terms and Conditions shall be construed as if not containing the provision held to be invalid, and the validity, legality and enforceability of the provisions or covenants of these Terms and Conditions shall be unaffected, and the rights and obligations of the parties shall be construed and enforced accordingly.
10. You agree and acknowledge that information and content, including but not limited to the Credit Information, provided on or through the PhonePe Platform does not create any consultancy or any other professional relationship between You and PhonePe. The Service provided by PhonePe does not mean rendering of any legal, accounting, tax, consulting, investment or other advisory services to You or any other party.
11. In case of any queries with respect the Services, please refer to the Grievance Policy.
12. These Terms and Conditions may be modified by PhonePe in its sole discretion from time to time.