Terms of Service

1. Acceptance of Terms

These Terms of Service ("Terms") govern access to and use of the website, platform, APIs, and services (collectively, the "Services") provided by PENEU LIMITED ("Peneu", "we", "us", or "our"). By accessing or using the Services, you agree to be bound by these Terms. If you do not agree, you must not use the Services.

2. Eligibility

The Services are intended for use by registered businesses and their authorized representatives. By using the Services, you represent that you have the authority to bind your business to these Terms, and that your business is lawfully permitted to accept, send, or process payments under applicable Indian law.

3. Description of Services

Peneu provides a payment orchestration platform that connects merchants to multiple payment providers through a single integration, with routing, retry, failover, webhook and reconciliation services, together with related services such as payouts and verification. Peneu does not itself hold or settle merchant funds; payments are processed and settled by the regulated payment providers, banks and payment gateways connected to the merchant's account.

4. Account Registration and KYC

To use the Services, you must complete our onboarding and KYC process, which may require submission of business registration documents, PAN, GSTIN, bank account details, and other information required under applicable RBI guidelines. You are responsible for ensuring the information you provide is accurate, complete, and kept up to date.

5. Merchant Obligations

• Use the Services only for lawful business purposes, in compliance with applicable Indian law and the policies of our banking and payment gateway partners.
• Not use the Services for any fraudulent, deceptive, or illegal transaction.
• Maintain accurate KYC and business information, and promptly notify us of any material changes.
• Cooperate with any verification, audit, or compliance request from Peneu or our partners.

6. Fees and Settlement

Fees applicable to your use of the Services will be as communicated during onboarding or as set out in your commercial agreement with Peneu. Settlement timelines depend on the banking or payment gateway partner processing a given transaction and applicable RBI settlement guidelines.

7. Intellectual Property

All intellectual property in the Services, including our platform, software, trademarks, and content, remains the property of Peneu or our licensors. Nothing in these Terms grants you any right to use Peneu's trademarks or branding without prior written consent.

8. Suspension and Termination

We may suspend or terminate access to the Services if we reasonably believe you have violated these Terms, applicable law, or the policies of our banking or payment gateway partners, or where required by a regulator. You may terminate your use of the Services in accordance with your commercial agreement with Peneu.

9. Limitation of Liability

To the maximum extent permitted by applicable law, Peneu shall not be liable for any indirect, incidental, or consequential damages arising from your use of the Services. Our aggregate liability for any claim arising out of these Terms shall not exceed the fees paid by you to Peneu in the twelve (12) months preceding the claim.

10. Indemnification

You agree to indemnify and hold Peneu harmless from any claims, losses, or liabilities arising from your breach of these Terms, misuse of the Services, or violation of applicable law.

11. Governing Law and Dispute Resolution

These Terms are governed by the laws of India. Any disputes arising out of or relating to these Terms shall be subject to the jurisdiction of the competent courts in India, without prejudice to any escalation process available through our Grievance Redressal mechanism.

12. Changes to These Terms

We may revise these Terms from time to time. Material changes will be communicated through the Services or by email. Continued use of the Services after a change takes effect constitutes acceptance of the revised Terms.

13. Contact Us

For questions about these Terms, contact us through the contact form at https://peneu.com/contact.