• The Customer hereby agrees to the charges as per the terms & conditions stipulated by The Gujarat State Co Operative Bank Ltd. (GSC Bank) The charges are subject to change, at the discretion of GSC Bank from time to time.
• The Customer hereby agrees and confirms that, GSC Bank shall not be responsible for any physical damage to the Quick Response (QR) /sound box in any manner whatsoever and that the Customer shall be solely responsible for any such damage or loss to the QR/sound box.
• The Customer hereby agrees and confirms that, GSC Bank shall, under no circumstances, be held liable or responsible in any manner if, the QR is not functional or the QR is not readable. In such cases, the customer shall lodge a complaint with the bank, which will be appropriately dealt with by the Bank, at its discretion.
• The Customer hereby agrees and confirms that, GSC Bank shall have the rights & authority in its sole discretion to flag the QR in Blacklist, if the Customer fails to hold it safe, fails to comply with transaction acceptance procedures or fails to comply with the terms & conditions stipulated by GSC Bank and under the applicable laws.
• The Customer hereby agrees and confirms that by applying for QR, Customer agrees to indemnify GSC Bank, its Directors, officials from and against any and all claims, actions at law, suits, proceedings, costs, damages, judgments, amounts paid in settlement and expenses (including without limitation reasonable attorneys’ fees and reasonable disbursements at actual) (collectively, “Loss”] incurred by GSC Bank, to the extent suffered, as a result of, arising from, or in connection with or relating to or arising out of the use or misuse of the QR by the Customer. Customer also undertakes to indemnify, defend and hold harmless GSC Bank, its directors, officials from and against any Loss incurred or suffered by GSC Bank as a result of GSC Bank providing its services in the form of Bank Account or QR and any transaction made therein, to enable the Customer to utilize the QR.
• The products & services provided herein by GSC Bank will be as per the applicable terms & conditions stipulated by GSC Bank. GSC Bank shall, at its sole discretion, reserves the right to modify, alter all or any of the terms & conditions, without prior notice or assigning any reason whatsoever.
• The products & services provided herein shall be subject to applicable RBI guidelines and regulations and that may be issued from time to time and other prevailing laws and regulations in India. QR may be used for the purpose of accepting payments from customers as may be required towards selling goods and/or services.
• Customer shall be issued with new QR code in case of damage/loss. Customer to make a request for reissuance during working hours on working day. Following the receipt of such information and on request of the QR Member and Bank shall not be liable for any inconvenience caused to the QR Member in this regard. QR Member is aware that once QR is reported lost or stolen or damaged and is subsequently found, the same shall be promptly cut into half and adequate care taken to prevent its misuse. The QR Member is responsible for the security of the QR and shall take steps towards ensuring the safe keeping thereof. The QR Member shall be liable for all charges incurred on the QR until the QR is reported lost/stolen. In the event, GSC Bank determines that the aforementioned steps are not complied with, financial liability on the lost and stolen QR would lie with the QR Member.
• In case the QR remains unused for a period of 6 months, the Account will be closed and no transaction for any customer payments would be permitted or can be undertaken by the customer.
• On termination of the QR, the total amount outstanding whether or not already reflected in the statement and charges incurred after termination, shall become forthwith due and payable by the customer as though they have been so reflected and interest will accrue thereon as may be applicable as per GSC Bank Policy, Process from time to time
• Customer shall inform GSC Bank in writing within 10 days, if any irregularity or discrepancy exists in the transaction / particulars of the QR Account. If GSC Bank does not receive any information in this regard, customer accepts that the Transactions are correct and be bound by the same.
• GSC Bank shall have the absolute discretion to amend or supplement any of the terms and conditions, features, end benefits offered on the QR including, without limitation to, changes which affect interest charges or roles and methods of calculation at any time. GSC Bank shall notify / communicate the amended Terms and Conditions by hosting the same on the Website or in any other manner as may be decided by GSC Bank. QR Member shall be responsible to keep himself abreast of such amended terms and conditions and shall be deemed to have accepted the amended terms and conditions.
• As notified by RBI from time-to-time MDR charges shall be capped and is subject to validation of Business Turnover. Accordingly Merchant is required to submit required proof in support Business Turnover

1. Definitions
• Soundbox / Device: A digital audio device provided to the Merchant that delivers instant voice alerts for UPI payments received.
• UPI: Unified Payments Interface operated by NPCI.
• Merchant Account: The bank account maintained with GSC Bank or any partner bank used for settlement of UPI transactions.
• PSP / Service Partner: Any authorised payment service provider or aggregator integrated with GSC Bank.
2. Eligibility
To avail the Soundbox service, the Merchant must:
1. Maintain an active current/savings account with GSC Bank or an approved partner bank.
2. Complete full KYC compliance as per RBI guidelines.
3. Agree to all UPI, NPCI, and RBI regulations applicable to merchants.
3. Device Ownership & Usage
1. The Device is provided on rental, deposit, or purchase basis, as communicated during onboarding.
2. Unless sold outright, the Device remains the property of GSC Bank or its authorised partner.
3. The Merchant shall:
3.1 Keep the Device powered ON and placed in a visible area.
3.2 Ensure proper care and prevent tampering, opening, or misuse.
3.3 Use the Device solely for receiving UPI payment confirmations.
4. Fees, Charges & Payment Terms
1. GSC Bank may levy:
1.1 Monthly rental charges, and/or Security deposit, and/or One-time device cost, as applicable.
2. Charges will be communicated to the Merchant at the time of issuance.
3. The Bank may revise charges with prior notice.
4. The Merchant authorises GSC Bank to:
4.1 Auto-debit fees from their GSC Bank account, OR
4.2 Adjust charges from UPI settlement proceeds.
5. Warranty, Maintenance & Replacement
1. The Device carries a limited warranty for manufacturing defects (duration as notified by GSC Bank).
2. GSC Bank will replace the Device in case of:
2.1 Technical malfunction,
2.2 Non-functional hardware not caused by Merchant’s negligence.
3. Replacement will not be provided for:
3.1 Physical, water, or fire damage
3.2 Lost or stolen Devices
3.3 Device tampering
4. For lost, damaged, or unreturned Devices, the Merchant agrees to pay a penalty or replacement charge, as applicable.
6. UPI Transactions & Settlement
1. Soundbox announcements are informational alerts only, not a proof of final settlement.
2. UPI payments will be settled to the Merchant’s linked account as per regular settlement cycles.
3. GSC Bank is not responsible for delays arising from:
3.1 NPCI systems
3.2 Merchant’s bank
3.3 Third-party PSPs
3.4 Network or technical issues
7. Connectivity Requirements
1. The Device may operate via SIM / GSM network / Wi-Fi depending on the model.
2. Alerts may be delayed if:
2.1 Network signal is weak,
2.2 Data plan expires,
2.3 Device battery is low.
3. GSC Bank will not be liable for losses due to network outages or merchant-side connectivity issues.
8. Merchant Responsibilities
The Merchant agrees to:
1. Ensure all UPI transactions are for genuine business purposes only.
2. Follow all guidelines issued by NPCI, RBI, and GSC Bank.
3. Not engage in:
3.1 Split transactions, Cash-back loops, Fraudulent or suspicious UPI activity
4. Immediately report to GSC Bank if the Device is lost, stolen, or malfunctioning.
5. Cooperate with periodic KYC updates and compliance checks.
9. Prohibited Activity
The Device must not be used for:
• Personal transactions
• Money laundering
• Circular / self-pay UPI transactions
• Any illegal or restricted activity under Indian law
Violations may lead to service termination, reporting to authorities, and penalties.
10. Termination of Service
GSC Bank may suspend or terminate the service if:
1. The Merchant fails to pay applicable charges.
2. Fraudulent or suspicious transactions are detected.
3. The Device is misused or tampered with.
4. KYC is incomplete or invalid.
5. The Merchant account is closed or becomes inoperative.
On termination:
• The Merchant must return the Device immediately (if on rental/deposit).
• Failure to return will result in forfeiture of deposit and/or penalty charges.
11. Limitation of Liability
GSC Bank shall not be liable for:
1. Any loss of business or revenue.
2. Technical or network issues beyond its control.
3. Customer errors in payment or incorrect UPI transfers.
4. Delayed or missed voice alerts.
The Merchant must verify payments from the UPI confirmation screen or GSC Bank statement.
12. Data Privacy & Security
1. GSC Bank may collect and use merchant transaction data as required for service delivery, regulatory compliance, and fraud prevention.
2. The Device does not store any sensitive information like UPI PIN, card data, or passwords.
3. Data will be processed in accordance with RBI and data-protection guidelines.
13. Governing Law & Jurisdiction
These Terms are governed by the laws of India.
Any dispute will be subject to the jurisdiction of courts in Ahmedabad.
14. Merchant Acceptance
By activating or using the Soundbox Device, the Merchant acknowledges that they have read, understood, and agreed to these Terms & Conditions.