The Terms and Conditions is a legal agreement between you and Cointab Software Private Limited (“Company”), having its registered office at 40, 4th Floor, Birla Mansion, No. 2, Dr. D. D. Sathe Marg, Prarthana Samaj, Mumbai – 400004, Maharashtra, India.

Company is a legal owner of Cointab mobile application (“Cointab App”) and (“Cointab Website”), collectively called as “Cointab”.

By using Cointab services you indicate your agreement to these terms and conditions (“Terms”) and our Privacy Policy. You further warrant and covenant that you have the power and authority to enter into this agreement.

If you do not agree to these Terms or do not wish to be bound by these Terms, please do not use Cointab and exit now.


Overview: Cointab allows you to manage your bank accounts and make payments to another person/ business or receive payments from another person/ business. It is based on Unified Payments Interface (“UPI”) platform developed by National Payments Corporation of India (“NPCI”), an umbrella organization for all retail payments system in India, set up with the guidance and support of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA).

Cointab is providing these services in partnership with The Federal Bank Limited, a bank licensed under the Banking Regulation Act, 1949.

Eligibility: Cointab is available to all customers & businesses who hold a bank account with any bank which is a member of NPCI’s UPI platform.

Registration: In order to use Cointab, you can download and install Cointab App from mobile application store. During first use, Cointab will verify your mobile number by sending an SMS from your phone. This mobile number will be then implicitly used for fetching your bank accounts when you want to add them to Cointab App. Hence it is required that you use the same mobile number which is registered with your bank against your bank account. Cointab will not be liable for any such discrepancy leading to your failure to access UPI transactions on Cointab App.

Transactions: Cointab can be used to check your bank account balance, make payments to any other person/ business and receive payments from any other person/ business. Each transaction is authorized by a secure UPI PIN which you can generate at the time of linking your bank account to Cointab App. The UPI PIN is issued and verified by your bank and it is neither stored nor accessed by Cointab.

When you receive payment from another person/ business, it will be credited to your bank account which is marked as “Default” in Cointab App.

By using Cointab for sending/ receiving money from your linked bank account, you are authorizing Cointab to initiate fund transfer request on your behalf to your bank. You are solely responsible for complying with any terms set by your bank or with respect to your account, including any fee terms, such as insufficient fund or overdraft fee terms.

Payment Address: A payment address (also called VPA) is an identifier which you can create during registration to receive money from anyone without sharing your bank account number. Only upto 3 payment addresses can be created per mobile number. To prevent frauds, you are required to use your own name or alias as a payment address and should not create a payment address in the name of another person or entity. Cointab reserves the right to block such payment addresses.

Security: You are solely responsible to keep your OTP, UPI PIN, Cointab App password and other bank account related details confidential. Sharing such information with others may lead to unauthorized usage, for which Cointab shall not be responsible.

Employee Provident Fund: In order to check your employee provident fund account passbook and other data, you need to either set your provident fund account credentials or provide your existing account credentials.

By using Cointab, you are authorising Cointab to use your account credentials and fetch your account and passbook details from Employee Provident Fund department including its website, app, etc. on your behalf.

User Responsibilities: In case of unauthorized usage of your account due to lost/ stolen/ misplaced device or your account credentials, it is your responsibility to inform Company of the same promptly. The responsibility of any transaction prior to intimation will solely be on you. In case any amount is transferred erroneously by you to any person/ business, Cointab shall not be liable to refund such amount to you under any circumstances.

Cointab will not be liable for any discrepancy or issue with any goods or services purchased from another person/ business and paid for using Cointab.

You agree not to disrupt, modify or interfere with the functioning of Cointab or any services provided on or through our mobile application, website or with any associated software, hardware or servers in any way and you agree not to impede or interfere with others’ use of Cointab.

You shall use Cointab services in good faith and in compliance with all applicable laws and regulations.

Communication: You agree to receive all communication from Cointab electronically. A communication will be considered to be received by you when we send the electronic communication to the email address/mobile number/ device ID registered with us or when we post it to our website. You may withdraw consent to receive communications electronically by contacting us.

In the event of any dispute, Company’s records shall be binding as the conclusive evidence of the transactions carried out through Cointab.

We may revise these Terms at any time without prior notice by updating this page and such revisions will be effective upon posting to this page. Please check this page periodically for any changes. Your continued use of Cointab following the posting of any revisions to these Terms will mean you accept those changes. We reserve the right to alter, suspend or discontinue any aspect of Cointab, including your access to it. Unless explicitly stated, any new features or services will be subject to these Terms.

Proprietary Rights
Unless otherwise stated, the contents of Cointab including, but not limited to, the text, sound and images contained herein, the selection, arrangement, and presentation of all materials, and the overall design of Cointab App and Cointab Website are the property of Company. They are protected by Indian and international intellectual property law.

No Warranty
Cointab is provided “as is” with no warranty of any kind and you use these services at your own risk. Company expressly disclaims any warranty, express or implied, regarding Cointab app, Cointab website or its content, including any implied warranty of merchantability, fitness for a particular purpose or non-infringement.

Furthermore some of the features and facilities on Cointab are provided by organisations including Partners, that Company has made arrangements with, but over which it has no control. Company does not guarantee or warrant that such benefits and facilities will be available, nor will it be liable for any loss or damage arising from the provision, or non-provision, whether in whole or in part of any such benefits or facilities.

Limitation of Liability
Under no circumstances will company be liable to you for any indirect, incidental, consequential, special or exemplary damages arising out of or in connection with use of Cointab, whether or not company has been advised of the possibility of such damages. Under no circumstances shall company be liable to you for any amount.

You agree to hold harmless and indemnify Company, and its employees, agents and representatives, from and against any third party claim arising from or in any way related to your use of Cointab, including any liability or expense arising from all claims, losses, damages (actual and consequential), suits, judgments, litigation costs and attorney’s’ fees, of every kind and nature.

No Assignment
You shall not assign these Terms or assign any rights or delegate any obligations hereunder, in whole or in part, whether voluntarily or by operation of law, without Company’s prior written consent. Any such purported assignment or delegation by you without Company’s prior written consent will be null and void and of no force or effect, unless otherwise expressly consented to by Company at its sole and absolute discretion.

Severability and Enforceability
If any provision or portion of these Terms is held illegal, invalid, or unenforceable, in whole or in part, it shall be modified to the minimum extent necessary to correct any deficiencies or replaced with a provision which is as close as is legally permissible to the provision found invalid or unenforceable and shall not affect the legality, validity or enforceability of any other provisions or portions of these Terms.

We reserve the right, in our sole discretion, to revoke any and all privileges associated with accessing Cointab, and to take any other action we deem appropriate including but not limited to terminating or suspending your use of Cointab, for no reason or any reason whatsoever, including improper use of Cointab or failure to comply with these Terms.

Governing Law and Jurisdiction
These Terms are governed by the laws of the Republic of India. You hereby agree to submit to the exclusive jurisdiction of the courts at Mumbai.

UPI Terms

What is NPCI?
NPCI is an authorized payment system operator by RBI. NPCI owns and operates UPI payment system.

What is PSP bank?
PSP is the banking company authorized to act as a Payment Service Provider (PSP) under the UPI framework. PSP engages the TPAP to provide UPI services to the end-user customers.

What is TPAPs?
Third Party Application Provider (TPAP) is an entity that provides the UPI compliant app(s) to the end-user customers to facilitate UPI based payment transactions.

What is Customer’s Bank?
The Bank where the end-user customer maintains his/her account and has linked the account for the purpose of debiting/crediting the payment transactions made through UPI.

Who is End User Customer?
The end-user customer is the individual who uses UPI payment facility to send and receive payments.

We hereby confirm that:
1. We, Cointab Software Private Limited, are a TPAP authorized by NPCI to facilitate payments through Federal Bank. We are a service provider and we participate in UPI through PSP bank.
2. We are bound by the tripartite agreement entered with the sponsor PSP (Federal Bank) and NPCI. We are responsible for facilitating grievances / complaints resolution of the customers on-boarded on our UPI application.
3. We shall be the first point of contact for all UPI related grievances/complaints for customers on-boarded by us. In case the complaint/grievance remains unresolved, the next level for escalation will be the PSP Bank, followed by the bank (where you maintain the account) and NPCI in the same order. After exercising these options you can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.

Roles & Responsibilities of NPCI
a) NPCI owns and operates the Unified Payments Interface (UPI) platform
b) NPCI prescribes rules, regulations, guidelines, and the respective roles, responsibilities and liabilities of the participants, with respect to UPI. This also includes transaction processing and settlement, dispute management and clearing cut-offs for settlement
c) NPCI approves the participation of Issuer Banks, PSP Banks, Third Party Application Providers (TPAP) and Prepaid Payment Instrument issuers (PPIs) in UPI
d) NPCI to provide a safe, secure and efficient UPI system and network
e) NPCI provides online transaction routing, processing and settlement services to members participating in UPI
f) NPCI can, either directly or through a third party, conduct audit on UPI participants and call for data, information and records, in relation to their participation in UPI
g) NPCI provides the banks participating in UPI access to system where they can download reports, raise chargebacks, update the status of UPI transactions etc

Roles & responsibilities of PSP Bank
a) PSP Bank is a member of UPI and connects to the UPI platform for providing UPI payment facility to the PSP Bank and TPAP which in turn enables the end-user customers / merchants
b) PSP Bank, either through its own app or TPAP’s app, on-boards and registers the end-user customers on UPI and links their bank accounts to their respective UPI ID.
c) PSP Bank is responsible for authentication of the end-user customer at the time of registration of such customer, either through its own app or TPAP’s app
d) PSP Bank engages and on-boards the TPAPs to make the TPAP’s UPI app available to the end-user customers
e) PSP Bank has to ensure that TPAP and its systems are adequately secured to function on UPI platform
f) PSP Bank is responsible to ensure that UPI app and systems of TPAP are audited to safeguard security and integrity of the data and information of the end-user customer including UPI transaction data as well as UPI app security
g) PSP Bank has to store all the payments data including UPI Transaction Data collected for the purpose of facilitating UPI transactions, only in India
h) PSP Bank is responsible to give all UPI customers an option to choose any bank account from the list of Banks available on UPI platform for linking with the customer’s UPI ID.
i) PSP Bank is responsible to put in place a grievance redressal mechanism for resolving complaints and disputes raised by the end-user customer

Roles & responsibilities of TPAP
a) TPAP is a service provider and participates in UPI through PSP Bank
b) TPAP is responsible to comply with all the requirements prescribed by PSP Bank and NPCI in relation to TPAP’s participation in UPI
c) TPAP is responsible to ensure that its systems are adequately secured to function on the UPI platform
d) TPAP is responsible to comply with all the applicable laws, rules, regulations and guidelines etc. prescribed by any statutory or regulatory authority in relation to UPI and TPAP’s participation on the UPI platform including all circulars and guidelines issued by NPCI in this regard
e) TPAP has to store all the payments data including UPI Transaction Data collected by TPAP for the purpose of facilitating UPI transactions, only in India
f) TPAP is responsible to facilitate RBI, NPCI and other agencies nominated by RBI/ NPCI, to access the data, information, systems of TPAP and carry out audits of TPAP, as and when required by RBI and NPCI
g) TPAP shall facilitate the end-user customer with an option of to raise grievance through the TPAP’s UPI app, e-mail, messaging platform, IVR etc. for redressal of customer grievances

Dispute Redressal Mechanism
1. Every end-user customer can raise a complaint with respect to a UPI transaction, on the PSP app / TPAP app.
2. End-user customer can select the relevant transaction and raise a complaint in relation thereto
3. A complaint shall be first raised with the relevant TPAP in respect to all UPI related grievances / complaints of the end-user customers on-boarded by the PSP Bank (if the UPI transaction is made through TPAP app). In case the complaint / grievance remains unresolved, the next level for escalation will be the PSP Bank, followed by the bank (where the end-user customer maintains its account) and NPCI, in the same order. After exercising these options, the end-user customer can approach the Banking Ombudsman and / or the Ombudsman for Digital Complaints, as the case may be.
4. The complaint can be raised for both the types of transactions i.e. fund transfer and merchant transactions
5. The end-user customer shall be kept communicated by the PSP / TPAP by means of updating the status of such end-user customer’s complaint on the relevant app itself