Terms & Conditions

Arthashastra Fintech Private Limited (ePayLater) Terms & Conditions

Effective Date: 1st April 2026

By registering on the Platform, accessing our services, or applying for any lending product through the Platform, you agree to be bound by these Terms, our Privacy Policy, and any other documents or disclosures presented to you during your onboarding or lending journey.

We reserve the right to amend, add, remove, or modify these Terms from time to time. The updated Terms will be published on the Platform. Your continued use of the Platform after such publication constitutes your irrevocable acceptance of the amended Terms.

1. Role of ePayLater

ePayLater operates strictly as a Lending Service Provider (“LSP”) that facilitates digital lending services on behalf of one or more Banks and Non-Banking Financial Companies (“NBFCs”) regulated by the Reserve Bank of India (collectively referred to as “Regulated Entities” or “Lenders”).

The commercial terms of any loan, including interest, fees, repayment schedule, penal charges, and other lending terms, shall be explicitly governed by the Key Fact Statement (KFS), Sanction Letter, Loan Agreement, and other documents executed directly between you and the applicable Lender. In the event of any inconsistency relating to the loan terms, the documents issued by the Lender shall prevail.

2. Eligibility and Registration

To use the Platform or apply for any product or service, you represent and warrant that:

  • You are a resident of India and are competent to contract under applicable Indian law (e.g., the Indian Contract Act, 1872).
  • All information and documents submitted by you are true, accurate, complete, and up to date.
  • You are duly authorised to provide all information submitted through the Platform.
  • You will promptly update the Platform regarding any material changes to your information.
  • Your use of the Platform complies with all applicable local, state, and national laws.

ePayLater and/or the applicable Lender may request additional information or documents at any stage of the customer relationship to satisfy regulatory, compliance (including Anti-Money Laundering), fraud prevention, or operational requirements. Failure to provide accurate information or supporting documents may result in rejection of your application, suspension of your account, or discontinuation of services.

3. Loan Facilitation Process

The Platform enables you to apply for lending products offered by one or more Lenders. As part of this process, ePayLater may:

  • Facilitate customer registration and digital onboarding.
  • Collect information and documents voluntarily submitted by you.
  • Facilitate identity verification and Know Your Customer (KYC) requirements through authorised service providers, in compliance with RBI guidelines.
  • Facilitate credit bureau enquiries and other customer-authorised verification processes.
  • Securely transmit your application and supporting information to the applicable Lender.
  • Facilitate the execution of loan-related documents electronically.
  • Provide technology support during loan servicing and repayment.

Disclaimer of Guarantee: Submission of an application through the Platform does not guarantee approval of any loan. The applicable Lender independently evaluates your application and retains the sole discretion to approve, modify, or reject it based on its internal credit policies, regulatory obligations, and risk assessment criteria without assigning any reason to ePayLater.

4. Customer Consents, Credit Data, and Statutory Reporting

By using the Platform and applying for a lending product, you provide your explicit, informed, and unconditional consent to ePayLater and the applicable Lender to:

  • Process your application, verify the information and documents submitted, and undertake identity verification through authorised KYC registration agencies.
  • Fetch, receive, and access your Credit Information Report and Credit Score from Credit Information Companies (CICs) (e.g., CIBIL, Equifax, Experian, CRIF). This consent is valid for assessing your initial creditworthiness, determining eligibility, and conducting periodic risk, portfolio, and credit reviews during the entire tenure of your relationship with us.
  • Obtain your financial data from the Account Aggregator ecosystem participants (subject to the Sahamati participation terms available at sahamati.org.in), wherever applicable and with your explicit consent.
  • Share information with the applicable Lender, co-lending partners, and authorised third-party service providers strictly for evaluating, processing, servicing, or recovering the loan.

Mandatory Statutory and Regulatory Reporting (No Prior Notice Required): You irrevocably acknowledge and agree that ePayLater and the Lender are legally obligated under RBI directions and applicable laws to undertake the following reporting:

  • CIC Reporting (Positive and Negative Data): The Lender and/or ePayLater (as permitted) shall periodically report your loan account details, repayment history, and any defaults or delays in repayment to all authorised CICs. You acknowledge that delays or defaults will be reported and may severely and adversely impact your credit score and future ability to obtain credit.
  • AML and Fraud Reporting (PMLA): In compliance with the Prevention of Money Laundering Act, 2002 (PMLA) and RBI’s Anti-Money Laundering (AML) guidelines, we continuously monitor transactions. Any suspicious activity, forged documentation, fraud, or misrepresentation will be reported to the Financial Intelligence Unit - India (FIU-IND) and other relevant law enforcement agencies without notice to you.
  • Regulatory Disclosures: We will disclose your personal and financial information to the RBI, courts, tribunals, police, or other statutory bodies if demanded under a lawful order, subpoena, or regulatory directive.

DPDP Act 2023 and Data Retention Overlap: Your Personal Information will be collected, processed, and stored locally in India in accordance with the ePayLater Privacy Policy and the Digital Personal Data Protection Act, 2023. While you have the statutory right to withdraw consent for processing personal data, you explicitly acknowledge that such withdrawal shall not affect or compel the erasure of data where ePayLater or the Lender is mandated to retain your records under RBI’s mandatory record-keeping guidelines (e.g., retaining KYC and transaction data for statutory periods post-loan closure) or where data retention is strictly necessary for the recovery of outstanding loan dues.

By agreeing to these Terms, you also agree to the Account Aggregator Ecosystem Participation Terms, which can be viewed at https://sahamati.org.in/participation-terms.

5. Customer Responsibilities

You agree that you shall:

  • Provide complete and accurate information at all times.
  • Promptly notify ePayLater of any change in your registered mobile number or email address.
  • Maintain the strict confidentiality of your login credentials, OTPs, and authentication information.
  • Promptly notify ePayLater of any unauthorised use of your account or security breach.
  • Cooperate with reasonable requests for additional information required to comply with legal or regulatory obligations.

You acknowledge that any false declaration, misrepresentation, fraudulent activity, or misuse of the Platform may result in the immediate rejection of your application, suspension or termination of your access to the Platform, reporting to the applicable authorities or Credit Information Companies where permitted by law, and any other legal action available under applicable law.

6. Fees, Charges, Repayment, and Fund Flow

  • 6.1. Direct Fund Flow and Specific End-Use: As ePayLater facilitates various credit products, the flow of funds shall strictly adhere to RBI Guidelines on Digital Lending. For checkout finance and credit-linked payments (specific end-use), loan disbursements sanctioned by the Lender shall be made directly into the bank account of the respective merchant or seller. For EMI loans, disbursements sanctioned by the Lender shall be made directly into your verified bank account. In all cases, all loan repayments must be executed directly by you into the applicable Lender’s bank account.
  • 6.2. LSP Fees: ePayLater does not charge you any direct, hidden, or upfront fees for acting as a Lending Service Provider. Any fees payable to ePayLater for its services are strictly borne by the Lender.
  • 6.3. Loan Commercials and KFS: The complete commercial terms of your loan, including the loan amount, interest rate, Annual Percentage Rate (APR), processing fee, repayment schedule, penal charges, and foreclosure/prepayment charges (if applicable) shall be transparently disclosed in the Key Fact Statement (KFS), Sanction Letter, and Loan Agreement issued by the applicable Lender.
  • 6.4. Repayment Obligations: You agree to repay the loan in accordance with the schedule and terms communicated by the Lender. Any delay or default in repayment entitles the Lender to levy penal charges, report the default to Credit Information Companies (CICs), and initiate legal recovery proceedings as permitted under applicable law.

7. Platform Availability and Acceptable Use

The Platform is provided on an “as is” and “as available” basis. While ePayLater endeavours to keep the Platform functioning efficiently, we do not guarantee uninterrupted, error-free, or secure access at all times.

You agree that you shall not:

  • Use the Platform for any unlawful, fraudulent, or speculative purpose.
  • Attempt to gain unauthorised access to the Platform or its underlying infrastructure.
  • Upload malicious software, viruses, or harmful code.
  • Use bots, spiders, or any automated devices to monitor, scrape, or copy the Platform.
  • Reverse engineer, decompile, disassemble, or otherwise attempt to discover the source code of the Platform, except as permitted by applicable law.

ePayLater may suspend, restrict, or terminate your access to the Platform where reasonably necessary to protect customers, prevent fraud, safeguard the integrity of the Platform, or comply with lawful instructions received from Lenders or regulatory authorities.

8. Electronic Records and Communications

You agree that applications, declarations, consents, and instructions submitted through the Platform using OTP verification or any legally recognised electronic method constitute valid electronic records and are legally binding under the Information Technology Act, 2000.

Operational Communications: Operational, regulatory, and transaction-related communications form an essential part of the services and cannot be opted out of while your relationship with ePayLater or the Lender continues.

Marketing Communications: By agreeing to these Terms, you provide consent to receive promotional and marketing communications related to financial products and services offered by ePayLater and its affiliates. You retain the right to opt out of such promotional communications at any time by following the instructions provided in the messages or by contacting ePayLater support.

9. Intellectual Property, Indemnification and Limitation of Liability

All intellectual property rights in the Platform, including its software, trademarks, logos, designs, and content, are owned by or licensed to ePayLater.

Disclaimer of Merchant Liability: For checkout finance and BNPL transactions, ePayLater and the Lender strictly facilitate the financing of your purchase. We are not responsible or liable for the sale, quality, merchantability, fitness, or delivery of any products or services purchased by you from partner merchants. Any disputes regarding the purchased products or services must be resolved directly with the respective merchant.

Indemnification: You agree to indemnify, defend, and hold harmless ePayLater, its affiliates, officers, employees, and partners from any and all claims, losses, damages, liabilities, costs, and expenses (including legal fees) arising out of your use or misuse of the Platform, your violation of these Terms, or any breach of the representations made by you.

Limitation of Liability: To the maximum extent permitted under applicable law, ePayLater shall not be liable for any indirect, incidental, special, punitive, or consequential damages (including loss of profits or data) arising from your use of the Platform, delays in service, failure of telecommunications networks, or Force Majeure events beyond our reasonable control.

10. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with the laws of India. Subject to applicable law, the courts at Gurugram, Haryana shall have exclusive jurisdiction over disputes arising out of or relating to these Terms.

11. Grievance Redressal Mechanism

In compliance with RBI regulations, ePayLater has appointed a dedicated Nodal Grievance Officer to address your queries and complaints. If you have any concerns regarding the Platform, privacy practices, or digital lending services, please contact our Grievance Officer using the details below.

Acceptance: By accessing or using the Platform, registering an account, submitting an application, executing documents electronically, or availing any service through the Platform, you acknowledge that you have read, understood, and agree to be bound by these Terms & Conditions, the Privacy Policy, and the applicable loan documents executed with the relevant Lender.