Wallet Policy

Wallet Policy

Wallet

Wallet Policy

Terms of Use of Sun Edge Wallet
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Please read the terms and conditions carefully before registering, accessing, or using the Sun Edge Pre-Paid Payment Instrument, herein referred as “Sun Edge Wallet”. These terms and conditions, (herein referred as “Wallet T&Cs”) are a legal contract ("Agreement") between You and Sun Edge Private Limited (“Sun Edge”) having its registered office at at1st Floor, Arvis Chember Above TVS Showroom, near SKF Company, Premlok Park, Chinchwad- 33, Pimpri-Chinchwad, Maharashtra 411033, India. You agree and acknowledge that you have read the terms and conditions set forth below. If you do not agree to these terms and conditions or do not wish to be bound by these terms and conditions, you may not use the Services and/or immediately terminate the Services.
Wallet
Introduction
These terms and conditions regulate the use of Semi Closed Prepaid Payment Instrument or such other services which may be added from time to time under the brand name “Sun Edge Wallet” offered by Sun Edge.
By proceeding to use the Sun Edge Wallet, you (“User”/ “you”/ “your”) signify your consent to be bound by these “Wallet T&Cs” in addition to agreeing to the General Sun Edge Terms and Conditionsand Sun Edge.By use of Sun Edge Wallet, you shall be contracting with Sun Edge and these Wallet T&Cs referenced herein will constitute Your binding obligations with Sun Edge.
Eligibility
By registering for Sun Edge Wallet, You represent that you are -
An Indian Resident having a valid Sun Edge account or distributor.
A natural or legal person above 18 years of age or older within the meaning of Indian Contract Act 1872.
You can enter into a legally binding agreement.
You have the right, authority, and capability to enter into this agreement abiding by all the provisions of the Sun Edge.
You are not barred or otherwise legally prohibited from accessing or using services of Sun Edge or Sun Edge Entities under the laws of India.
You represent that you are currently not a Politically Exposed Person (“PEP”) as defined by regulatory.
Application and Issuance of Sun Edge Wallet
We may collect documents and information pertaining to You as part of Your application to avail Sun Edge Wallet as a service as part of Sun Edge offering shall be subject to Sun Edge’s Privacy Policy. Such information collected might also be subject to Sun Edge’s internal policies, regulatory directives and notifications, including but not limited to procedures defined by such organizations.
As part of application, onboarding, or update of Your Sun Edge Wallet, you might also be required to agree to the terms and conditions of third party, whose services are used as part of your application, for example, You might be required to accept UIDAI’s terms and conditions or terms and conditions of Digi Locker operated by Ministry if Electronics and IT or any other authority whom You authorize to share your data/information with Us.
You shall be responsible for the documents/information and declarations provided to Sun Edge about Yourself, Your residency and tax status, information about PEP and other material information including but not limited to Your KYC documents. Sun Edge shall not be liable for incorrect documents/information and declarations and retains the right to refuse activation and right to deactivate of Your Sun Edge Wallet and report such incident to Legal Enforcement Agencies (LEAs) and the regulator(s) as per extant directives.
We may review the data/information provided by you and undertake appropriate due-diligence, including risk management before issuing Sun Edge Wallet
We may appoint associates or agents to collect Your KYC information/data as part of Sun Edge Wallet application, upgrade or risk assessment.

Sun Edge Wallets
Sun Edge issues semi-closed PPI wallets and Gift Instruments to Sun Edge distributorship account holders. This section refers to the different categories of Semi-Closed Wallets issued by Us, is according to the regulatory directives issued by Direction on Issuance and Operation of Prepaid Payment Instruments, and subsequent updates.

Minimum Details Prepaid Instrument
Sun Edge Wallets issued under this category and with the features and limitations mentioned herein.
In order to avail this Sun Edge Wallet, You shall have an active mobile number issued by Indian telecom service providers, Your shall provide a self-declaration of your Name and unique identity/identification number of any ‘mandatory document’ or ‘Officially Valid Document’ (“OVD”) listed in the Master Direction of KYC. Sun Edge shall provide You list of acceptable documents as part of your application process.
Your Sun Edge Wallet is reloadable and issued in electronic form. Loading is permissible using Your Bank account and / or Credit Card / or debit card permitted by the regulator from time to time and as per Sun Edge’s internal policies.
Loading limits shall apply to Your Sun Edge Wallet, with a Monthly limit of Rs, 10,000/- and an annual limit (Financial Year) of Rs. 1,20,000/-. Further, Your Sun Edge Wallet balance shall be limited to Rs. 10,000/- at any point in time and You may not be allowed to add funds in case Your Sun Edge limits are triggered except in case of refunds on cancelled transactions, wherein the balance may be higher than the limit of Rs. 10,000/-.
While You can use Your Sun Edge Wallet for purchase of goods and services on merchants / or Sunedge Wellness Centre or /Sun edge Distributorship that accept Sun Edge Wallet with a debit limit of Rs. 10,000/- per month, You cannot transfer Your Sun Edge Wallet balance to any other Sun Edge Wallet user not can withdraw the funds to a bank account or a credit card or a debit card, except for any specific conditions specified by the regulator.
Sun Edge wallet is one of the payment options available to You while making payment to a Merchant / Merchant platform / Sunedge Wellness Centre or Sunedge Distributorship and We take no responsibility for the products purchased or services availed using the Sun Edge wallet and any liability thereof is expressly disclaimed. User can pay directly from his/her Sun Edge account linked bank account, if:
The order value exceeds the available amount in the Sun Edge Wallet; or
The User has exceeded his/her limit for Purchases using the Sun Edge Wallet.
Sun Edge shall communicate the features of Sun Edge Wallet at the time of wallet issuance by SMS/e-mail/link/website to terms and conditions or any other means.
You shall use your P-SEM to login and access Your Sun Edge Wallet. We may ask/provide you additional security measures in order to access Your Sun Edge Account.
Sun Edge also allows you an option to fix a cap on transactions that You want to perform on Sun Edge Wallet, and You can change it with an additional factor or authorization at any point in time.
The features and limits mentioned herein are subject to Sun Edge’s internal risk assessment and We may reduce load and spend limits, apply cooling period on Your Sun Edge Wallet after fresh loading of funds and restrict spending on certain merchants, restrict You to access Your Sun Edge Wallet or report Your account to Legal Enforcement Agencies (“LEA”) or other regulators. You understand that We may or may not communicate the above action to you. This is part of our transactional risk management practice to keep Your Sun Edge Wallets and ecosystem secure for our users and merchants.
In case You had Sun Edge Wallet prior to April 1 , 2020, You consent you’re your Sun Edge Wallets shall be migrated to this category as per the extant guidelines and You shall continue to use Your Sun Edge Wallet with the above defined feature and limits. However, You may choose to opt-out of this category of Sun Edge Wallet within 5 days from the migration notification from Sun Edge. You may opt out via the Sun Edge app by clicking on “Closing Sun Edge Wallet'' within the help section on the Sun Edge Wallet screen and following the next steps.
In case You have an existing Sun Edge Wallet in “Inactive” state, Your Sun Edge Wallet will get migrated to this category of Sun Edge Wallet upon activation of Your wallet account initiated by You and features and limits provided herein shall apply. This migration is expected to happen immediately at the time of activation
In case You opt to close Your Sun Edge Wallet and Your Sun Edge Wallet has a stored value, We shall return the funds back to the source account from where the funds were loaded as part of Your Sun Edge Wallet closure process.

General Terms and Conditions
Your login credentials are personal to you and You should ensure keeping Your login credentials are safe and secure. You are responsible for security of your Sun Edge Wallet and Sun Edge business and shall take all steps to keep the details secure including the devices that You may use to access Your Sun Edge Account. Further, You shall not disclose Your account access credential to anyone in any form whether verbally, writing or record it in any other form. In case You divulge such details in error or due to negligence, You shall immediately report the activity to Sun Edge. However, Sun Edge shall not be liable for any unauthorized transaction performed by any third party with Your secure account access credentials.
We may monitor Your transaction(s) for probable high-risk/fraud transactions. Basis our continuous transaction monitoring, We may place a hold on the Transaction, block or reject transaction and may also temporarily block you Sun Edge Wallet or business account or Account and ask You for more information on You and Your funding source before releasing / reinstating Your account/transaction. You shall also note that, Your account could also be temporarily or permanently blocked basis abuse against any employee, company, or incorrect declaration by any customer or merchant and We shall not be liable for any loss caused to You due to this while we investigate Your account.
You agree and understand that the Sun Edge, based on its internal policies, regulatory and statutory guidelines may report transactions to appropriate authorities in case such transaction is classified as suspicious or fraudulent and We shall not be made liable for any loss caused to You for such obligatory reporting by Us, even if any such transaction is found to be regular and lawful at a later stage.
While executing any transaction, You must ensure the availability of sufficient funds On Your Sun Edge Wallet / business or other sources of funds that You use to execute any transaction.
You understand that the services offered by Sun Edge on Sun Edge application use internet connection, service providers apart from Sun Edge application to successfully execute Your transactions and We shall not be take any responsible on any liability arising from including but not limited to any loss or interruption of the Services or the unavailability of Services due to a mobile or internet not supporting, non-responsiveness Merchant websites or applications.
You understand that the information that You share for availing services might be shared with third parties inter alia, to facilitate the provision of the Services and in such case, data policies of service providers shall also apply to such transactions and You are required to update Yourself of their policies and You acknowledge that You understand that Sun Edge would not have any control on data sharing and use in such case.
You further agree and acknowledge that Your bank/financial institution may access fee(s) or charge(s) against such transactions and Sun Edge shall not be liable to acknowledge or refund such fee(s) charges and shall be borne You in all circumstances.
Funds loaded into Your Sun Edge Wallet or business account and spent on Sun Edge application or partner merchants or distributorship for services offered by them are conducted over the internet and involve multiple stakeholders not limited to You Bank, Service Providers, Internet services, telecom operator etc. You understand that transaction confirmations and acknowledgements may not always reflect service delivery due to the possibility of failures at multiple points. In such cases, Sun Edge is not liable for any loss caused due to inefficiencies / process failures at other such stakeholders and Sun Edge shall credit the funds or recover the funds from You in such cases and shall apply appropriate limits/orders on Your Sun Edge Wallet / business or Account accordingly at its own discretion and can take appropriate legal actions to collect the amount due, to the extent allowed by Applicable Law.
You can view Your Sun Edge Wallet and business transaction in Your Sun Edge portal/app and can also review transactions for at least 6 (six) months.
All categories of Sun Edge Wallets and businesss are non-transferable in nature, except the ones that are unclaimed and No interest is payable on the outstanding Wallet balances.
Your account is secured and any transaction that is processed on Your Sun Edge Wallet / portal /website shall be authorized by You explicitly or processed .Your Sun Edge Wallet and permitted by Sun Edge.
While You can purchase multiple business’s as permitted by Sun Edge from time to time. Any suspected violation of this condition shall constitute grounds for suspension of Your access to Your Sun Edge Wallet / business’s or Sun Edge account.
While, the continued availability of the Sun Edge Wallet shall be subject to the requirements under law, regulations or directions connected to Semi-closed prepaid payment instruments, Sun Edge reserves the right to suspend/discontinue the Wallet at any time, for any cause, including, but not limited, to the following-
For any suspected violation of the rules, regulations, orders, directions, notifications issued by regulator from time to time or for any violation of any Sun Edge Terms;
any suspected discrepancy in Your particular(s), KYC documentation or information provided by the You; or
to combat potential fraud, sabotage, willful destruction, threat to national security or for any other force majeure event; or
Sun Edge in its sole opinion and discretion believes that cessation/ suspension of Your Sun Edge Wallet is necessary for any other legitimate purpose.
You agree that, upon any closure or winding up of the Prepaid Payment Instrument as notified by the regulator or due to any other circumstances provided under law, You may redeem the outstanding balance in Your Sun Edge Wallet/ business account or transfer the same to any prepaid payment instrument or bank account held/maintained by you with any third party with in such time as may be determined by Sun Edge, failing which, Sun Edge may transfer the balance in Your Prepaid Payment Account to Your another prepaid payment instrument issued by such entity having authorization from regulator and with which Sun Edge has made appropriate arrangements.