Legal

Terms of Service

These Terms of Service ("Terms") form a legally binding agreement between you and Pey Technologies Private Limited ("PeyCoIn", "we", "our", "us"), governing your use of the PeyCoIn mobile and web applications, the website at pey.co.in, and any related services (collectively, the "Services"). Please read these Terms carefully. By accessing or using the Services, you agree to be bound by them.

Last updated 14 June 2026Effective 14 June 2026

1. Acceptance of these Terms

By creating an account, downloading the app, or otherwise using the Services, you confirm that you have read, understood, and agree to be bound by these Terms, our Privacy Policy, our Grievance Redressal Policy, and any product-specific terms we may publish. If you do not agree, do not use the Services.

These Terms constitute an "electronic record" within the meaning of the Information Technology Act, 2000 ("IT Act") and the rules made thereunder, and do not require any physical or digital signature.

2. Eligibility

You may use the Services only if you:

  • Are at least 18 years of age and competent to contract under the Indian Contract Act, 1872;
  • Are a resident of India and hold a valid Indian bank account;
  • Have not been previously suspended or removed from the Services;
  • Are not a person barred from receiving the Services under any applicable Indian law, including the Prevention of Money Laundering Act, 2002 ("PMLA").

Where you use the Services on behalf of an entity, you represent that you have the authority to bind that entity to these Terms.

3. Your account

To use most features, you must register and complete onboarding, which may include verification of mobile number, email, PAN, and bank account, in line with the Reserve Bank of India's ("RBI") Master Directions on KYC and applicable PPI/Payment Aggregator regulations.

You agree to:

  • Provide accurate, current, and complete information at all times;
  • Keep your login credentials, device PIN, biometric, and UPI PIN strictly confidential;
  • Notify us promptly of any unauthorised use or breach of your account;
  • Be responsible for all activity that occurs under your account.

4. Services and payment rails

PeyCoIn is a technology platform that helps users record shared expenses, view balances, and route payments to settle those balances. Where money movement occurs, it is executed through licensed banking, UPI, card network, or PA/PG partners. PeyCoIn is not a bank and does not hold customer funds in its own name.

UPI transactions are subject to NPCI's UPI Procedural Guidelines. Card transactions are subject to your card issuer's terms and the relevant card scheme rules. Net banking is subject to your bank's terms.

5. Fees & charges

Use of the core PeyCoIn app is free for end users. Specific transactions, value-added services, or premium tiers may attract fees, which will always be disclosed before the transaction is initiated. Statutory taxes (including GST) will be charged in addition where applicable.

6. Advertising and free service

The core PeyCoIn app is provided free of charge to end users. To sustain this, the app displays subtle, non-intrusive advertisements sourced through Google Mobile Ads (AdMob) and other approved ad networks. By using the Services you consent to the display of such advertisements.

Advertisements in the app are subject to the following commitments:

  • Non-intrusive placement — ads appear in designated zones (e.g. between expense list items) and do not interrupt active workflows such as adding an expense, settling a balance, or viewing an alert.
  • No user-data sales — PeyCoIn does not sell your personal data to advertisers. Ads may be contextually targeted based on general app usage patterns, but your financial data (balances, transactions, group memberships) is never shared with ad networks for targeting purposes.
  • User Messaging Platform consent — where required by applicable law (including the EU/UK GDPR or India's DPDP Act), we will request your consent before enabling personalised advertising via the standard consent dialogue.
  • Ad-free premium — we may offer a paid ad-free tier in future. Any such offer will be disclosed transparently before purchase.

Ad rendering is handled by third-party SDKs (currently Google AdMob). You may opt out of personalised ads at device level via your iOS or Android privacy settings ("Limit Ad Tracking" / "Opt out of Ads Personalisation"). This does not remove ads but reduces personalisation.

7. Acceptable use

You will not, and will not attempt to:

  • Use the Services for any unlawful, fraudulent, or money-laundering purpose;
  • Impersonate any person or entity, or misrepresent your affiliation with any person or entity;
  • Reverse engineer, decompile, scrape, or otherwise extract source code from the Services;
  • Interfere with the security, integrity, or availability of the Services;
  • Upload content that is defamatory, obscene, infringing, or otherwise restricted under Section 69A of the IT Act and the Intermediary Guidelines, 2021;
  • Use the Services to collect debt, conduct gambling, deal in cryptocurrency or virtual digital assets in violation of Indian law, or transact with sanctioned persons.

8. Group balances and settlement

Balances shown in PeyCoIn reflect what users have entered or what we have inferred from connected sources. PeyCoIn does not adjudicate disputes between users about whether an expense is owed; we provide tools to record, communicate, and settle such balances. Once you initiate a settlement, the underlying payment instruction is final and irrevocable in line with the rules of the relevant payment rail.

9. Intellectual property

All rights, title, and interest in and to the Services, including all software, trademarks ("PeyCoIn", the PeyCoIn wordmark and logo), designs, and content, are owned by Pey Technologies Private Limited or its licensors. We grant you a limited, non-exclusive, non-transferable, revocable licence to use the Services strictly for your personal, non-commercial use, subject to these Terms.

You retain ownership of content you submit (such as expense notes or photos). You grant us a worldwide, royalty-free licence to host, store, and process such content solely to provide the Services.

10. Limitation of liability

The Services are provided on an "as is" and "as available" basis. Software, including the PeyCoIn app and website, may contain bugs, errors, or inaccuracies that could cause incorrect balance calculations, failed transactions, or unexpected behaviour. While we work diligently to resolve issues promptly, we cannot guarantee that the Services will be error-free or uninterrupted at all times.

To the maximum extent permitted by law, Pey Technologies Private Limited and its directors, employees, and partners shall not be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, including loss of profits, goodwill, data, or business opportunity arising from or related to any bug, error, service interruption, or inaccuracy in the Services. Our aggregate liability for any claim arising out of or in connection with the Services shall not exceed the higher of (a) ₹ 5,000, or (b) the fees paid by you to us in the three (3) months immediately preceding the event giving rise to the claim.

We strongly recommend that you independently verify any significant financial transaction or balance through your bank statement, UPI app, or other authoritative sources before acting on information displayed in the app.

11. Indemnity

You agree to indemnify and hold harmless Pey Technologies Private Limited, its affiliates, officers, directors, employees, and agents from any claim, demand, loss, or expense (including reasonable legal fees) arising from your breach of these Terms, your violation of any law, or your infringement of any third-party right.

12. Suspension and termination

We may suspend, restrict, or terminate your access to the Services, with or without notice, if we reasonably believe that you have breached these Terms, that your use creates legal or security risk to us or other users, or where required by a competent authority. You may close your account at any time from in-app settings.

13. Governing law and jurisdiction

These Terms are governed by the laws of India. Subject to the dispute-resolution procedure below, the courts at Bengaluru, Karnataka shall have exclusive jurisdiction.

Any dispute, controversy, or claim arising out of or relating to these Terms, including the breach, termination, or validity thereof, shall be referred to and finally resolved by arbitration administered under the Arbitration and Conciliation Act, 1996, by a sole arbitrator appointed by us. The seat and venue shall be Bengaluru, and the language shall be English.

14. Grievance redressal

We are committed to resolving complaints promptly and fairly. For the procedure, timelines, and contact details of our Grievance Redressal Officer, Nodal Officer (Payments), and the RBI Ombudsman, please see our Grievance Redressal Policy.

15. Changes to these Terms

We may update these Terms from time to time. Material changes will be notified via the app or email at least 14 days before they take effect. Continued use after the effective date constitutes your acceptance of the updated Terms.

16. Contact

Questions about these Terms? Write to us at legal@pey.co.in or call +91 87389 59415.