Terms of Service
Last updated: October 2025 • Governing software service terms and merchant liability
1. Scope & Technology License
Keio grants the Merchant a non-exclusive, non-transferable, revocable technological software license to access Keio's developer interfaces, SDKs, and merchant management dashboard. Keio operates strictly as a software tooling provider and does not provide financial aggregation, fund transmission, escrow, or banking services.
2. Non-Custodial Architecture & Fund Settlements
All customer payments occur strictly and directly between the end-payer and the merchant's independent third-party banking/merchant accounts using standard UPI protocols. Keio never holds, collects, escrows, receives, or transmits settlement funds, and assumes zero financial liability regarding settlement timing, bank velocity caps, or chargeback reversals.
3. Merchant Representations & Warranties
The Merchant represents and warrants that: (a) it is a legally registered business or authorized sole proprietor operating in full compliance with Indian laws; (b) all commercial transactions represent authentic, legitimate business sales; (c) it holds all mandatory statutory licenses, GST registrations, and permits required to sell its goods or services.
4. Identity Verification & Account Authorization
Merchants must successfully complete credential verification before utilizing live software interfaces. Keio reserves the right to request renewed documentation or immediately freeze software access if provided credentials appear unverified, altered, or suspicious.
5. Software Usage Fees & Wallet Ledger Terms
The Merchant agrees to pay the applicable software licensing and processing fee (including the 2% platform success fee) as accounted through the merchant's pre-loaded software balance. All wallet top-ups are subject to 18% GST and are non-refundable once software services have been rendered.
6. Prohibited Merchant Activities
The software may not be deployed for: (a) unauthorized financial instruments or pyramid arrangements; (b) illegal betting or unlicensed gaming; (c) deceptive trade or advance-fee scams; (d) counterfeit items; (e) adult services; or (f) any goods/services prohibited under Central or State legislation.
7. Third-Party Banking & Network Dependencies
Keio is not liable for third-party bank server downtimes, UPI network congestion, NPCI gateway disruptions, account limits, or provider account closures imposed by external financial entities.
8. Absolute Disclaimer of Warranties
THE SOFTWARE IS PROVIDED 'AS IS' AND 'AS AVAILABLE' WITHOUT WARRANTY OF ANY KIND. KEIO EXPRESSLY DISCLAIMS ALL WARRANTIES, EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, UNINTERRUPTED AVAILABILITY, OR FITNESS FOR A PARTICULAR PURPOSE.
9. Strict Limitation of Liability
TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT SHALL KEIO, ITS FOUNDERS, OPERATORS, OR DEVELOPERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, OR PUNITIVE DAMAGES, LOSS OF PROFITS, DATA LOSS, REVENUE INTERRUPTION, OR BANKING DISPUTES. TOTAL AGGREGATE LIABILITY OF KEIO FOR ANY CLAIM UNDER THESE TERMS SHALL BE CAPPED AT INR 0 OR THE NOMINAL SOFTWARE USAGE FEE PAID BY THE MERCHANT IN THE PRECEDING 30 DAYS.
10. Comprehensive Indemnity
The Merchant agrees to indemnify, defend, and hold harmless Keio and its operators against any legal proceedings, regulatory investigations, fines, disputes, customer chargeback losses, or expenses (including attorney fees) arising from the merchant's commercial operations, tax defaults, or breach of these Terms.
11. Service Termination & Access Revocation
Keio reserves the unrestricted right to suspend, terminate, or revoke platform access immediately and without liability if the Merchant breaches these terms, engages in suspicious activities, or poses a compliance risk.
12. Governing Law & Dispute Resolution
These Terms of Service are governed exclusively by the laws of India. Any legal dispute or claim arising hereunder shall be subject to the exclusive jurisdiction of the competent courts in India.