Risk & Prohibited Activities Policy
Last updated: October 2025 • Governing software service terms and merchant liability
Important Legal Notice: Keio provides proprietary software tools and communication interfaces only. Keio is not a bank, payment aggregator, financial intermediary, or money transmitter. Keio never holds, touches, or routes customer settlement funds.
1. Nature of Service & Absolute Non-Custodial Architecture
Keio is strictly a provider of software tools and technological communication interfaces. Keio is NOT a Payment Aggregator, Payment Gateway, Banking Entity, Escrow Agent, or Financial Intermediary as defined under the Payment and Settlement Systems Act, 2007 or any applicable RBI regulations. Keio does not collect, receive, hold, transmit, settle, or custody any customer or merchant funds at any point in time.
2. Sole Merchant Liability & Responsibility
The Merchant assumes sole, absolute, and unconditional civil, regulatory, and criminal responsibility for all commercial operations, products sold, services rendered, and transactions initiated through their credentials. Keio exercises no control over the underlying commercial relationship between merchants and their buyers.
3. Prohibited Activities & Restricted Categories
Merchants are strictly prohibited from utilizing the software for unlawful, fraudulent, deceptive, or restricted activities. Prohibited activities include, but are not limited to: illegal gambling/betting, unauthorized financial schemes, pyramid or multi-level marketing, counterfeit goods, narcotics, weapons, adult entertainment, money laundering, and any goods or services prohibited under the laws of India.
4. Zero Tolerance for Fraud & Instant Account Termination
Keio maintains an absolute zero-tolerance policy toward fraudulent activity. If an account is suspected of unauthorized collections, chargeback anomalies, regulatory non-compliance, or malicious activity, Keio reserves the unilateral right to permanently restrict, terminate, or block platform access immediately without notice, refund, or prior warning.
5. Payer Disputes, Chargebacks & Mismatch Transfers
Keio holds no financial custody and is entirely absolved of liability regarding customer chargebacks, transaction mismatch disputes, wrong beneficiary transfers, refunds, or payment reconciliation conflicts. All financial reconciliation, disputes, and customer chargebacks remain exclusively between the merchant, the buyer, and their respective banking institutions.
6. Regulatory & Law Enforcement Cooperation
Keio fully cooperates with statutory, governmental, judicial, and law enforcement agencies. In the event of an official inquiry, legal notice, or investigation, Keio reserves the right to disclose relevant merchant verification records, logs, and metadata as required by applicable laws without liability to the merchant.
7. Mandatory Identification & Verification
Merchants must submit authentic, verifiable business and identity credentials (including PAN and government-issued identification) prior to receiving software access. Providing false, forged, or stolen documentation constitutes a criminal offense and will trigger immediate legal reporting.
8. Comprehensive Indemnification
The Merchant agrees to defend, indemnify, and hold harmless Keio, its directors, developers, operators, and affiliates from and against any and all claims, liabilities, legal actions, regulatory penalties, damages, losses, or expenses (including legal fees) arising from the merchant's business activities, tax defaults, transaction disputes, or violation of applicable laws.
9. Disclaimer of Warranties
The software tools and interfaces are provided strictly on an 'AS IS' and 'AS AVAILABLE' basis without warranties of any kind, whether express, statutory, or implied, including warranties of merchantability, continuous uptime, or fitness for a specific commercial purpose.
10. Policy Modifications & Binding Effect
Keio reserves the exclusive authority to amend, update, or revise this Risk Policy at any time. Continued access to or utilization of the software following amendments constitutes irrevocable acceptance of the revised terms.