ePayLater - Important Terms and Conditions

To get the complete version of the ePayLater powered by ICICI Bank Facility Terms and Conditions, please visit www.icicibank.com

All capitalized terms used but not defined in the MITC shall have the respective meaning as assigned in the Primary Terms and Conditions of ePayLater powered by ICICI Bank Facility.

1. Schedule of Fees and Charges:

• There are no joining fees, annual fees and supplementary fees for ePayLater powered by ICICI Bank Facility. ICICI Bank in its sole discretion reserves the right to apply/ introduce such charges in future in relation to ePayLater powered by ICICI Bank Facility.

2. Usage:

• ePayLater powered by ICICI Bank Facility can be only used to complete transactions on select Merchant Platforms where the availability of ePayLater powered by ICICI Bank Facility would be indicated by ePayLater.
• Categories wherein ePayLater powered by ICICI Bank Facility shall be available would be communicated through ePayLater.
• Cash withdrawal option against ePayLater powered by ICICI Bank Facility is currently unavailable.

3. Other Fees and Charges:

4. Interest and Late Payment Charges:

• Interest will be charged, at the sole discretion of ICICI Bank, if the Total Amount Due is not paid by the Payment Due Date. Such interest will be charged from the Payment Due Date till such time as the outstanding amounts are paid in full by the ePayLater powered by ICICI Bank Customer.
• The rate of interest shall be 3% per month on the Total Amount Due and 36% per annum subject to revision from time to time, depending on factors such as but not limited to, credit history, purchase patterns, payment behaviour and month-on book. The rate of interest shall be decided solely by ICICI Bank.
• Late payment charges will be applicable if the Total Amount Due is not paid by the Payment Due Date.

In the table given below, it has been assumed that the Total Amount Due during the previous month has been paid within Payment Due Date and there is no outstanding amount. The statement of usage of the ePayLater powered by ICICI Bank Facility shall be issued on the 1st of every month. Given these assumptions, interest and late payment charges levied will be calculated as below:

Applicable taxes will be levied on interest, charges & late payment charges

• Transaction Limit: The Transaction Limit and Tenure shall be communicated at the time of sanctioning ePayLater powered by ICICI Bank Facility and shall also be indicated subsequently in the statements of usage of ePayLater powered by ICICI Bank Facility generated by ICICI Bank on a monthly basis. Available Transaction Limit is calculated by deducting the utilized limit from the Transaction Limit. The ePayLater powered by ICICI Bank Customer shall be entitled to apply for a review / enhancement / reduction of the Transaction Limit provided by ICICI Bank, upon completion of 12 months of Tenure. Change upon such review, if any, of the Transaction Limit and Tenure shall be at the sole discretion of ICICI Bank. ICICI Bank shall at its sole discretion be entitled to review (including enhancement or reduction) the Transaction Limit and Tenure assigned on ePayLater powered by ICICI Bank Facility to the ePayLater powered by ICICI Bank Customer at any time. Enhancements, if any, to the Transaction Limit, shall be effected by ICICI Bank only after obtaining prior written consent of the ePayLater powered by ICICI Bank Customer.
• Billing and Payment:
• Statements of usage of ePayLater powered by ICICI Bank Facility– periodicity and mode of communication: All ePayLater powered by ICICI Bank Customers will be billed on a monthly basis for all purchases made on the Merchant Platforms by using ePayLater powered by ICICI Bank Facility. ePayLater shall share the statements of usage of ePayLater powered by ICICI Bank Facility with the ePayLater powered by ICICI Bank Customer on his/her e-mail id provided at the time of on boarding for the ePayLater powered by ICICI Bank Facility. However, there may be no statement of usage of ePayLater powered by ICICI Bank Facility generated for the period in which there has been no outstanding dues and no transaction on the account in the past month. The statement of usage of ePayLater powered by ICICI Bank Facility will be made available by ICICI Bank on a monthly basis through ePayLater.
• Method of payment: Payments towards the Total Amount Due under ePayLater powered by ICICI Bank Facility can be made through links provided on ePayLater through Debit Card, Net banking and Electronic Methods of Payment. The links for repayment shall be available in the e-mails sent by ePayLater containing statement of usage of ePayLater powered by ICICI Bank Facility. In the event the ePayLater powered by ICICI Bank Customer does not pay Total Amount Due using the links sent by ICICI Bank through e-mail by the Payment Due Date, the Total Amount Due shall be auto-debited from the savings account of the ePayLater powered by ICICI Bank Customer held with ICICI Bank as setting auto-debit instructions is a prerequisite for availing the ePayLater powered by ICICI Bank Facility. Interest shall be charged if the Total Amount Due is not paid by the Payment Due Date. In addition to this ICICI Bank may also temporarily block or suspend or terminate ePayLater powered by ICICI Bank Facility of such ePayLater powered by ICICI Bank Customers.
• Time Period for Payment: The time period granted to an ePayLater powered by ICICI Bank Customer to pay the Total Amount Due on the purchases made may vary from 15- 45 calendar days. Illustration: The due date for payment being 15th of every month, in case of purchase made on 1st of the previous month, the ePayLater powered by ICICI Bank Customer will have a time period of 45 calendar days to pay the Total Amount Due by the Payment Due Date and in case the purchase has been made on the 30th of the previous month the ePayLater powered by ICICI Bank Customer will have a time period of only calendar 15 days to pay the Total Amount Due.
• Billing Disputes Resolution: In the event of any dispute amongst ePayLater powered by ICICI Bank Customer, ICICI Bank and ePayLater regarding the usage of the ePayLater powered by ICICI Bank Facility or the charges indicated in the statements of usage of ePayLater powered by ICICI Bank Facility, the ePayLater powered by ICICI Bank Customer is required to communicate in writing to the correspondence address of ICICI Bank or file complaints online at www.icicibank.com within 60 (sixty) calendar days from the date of receipt of such statements of usage of ePayLater powered by ICICI Bank Facility, failing which it would be deemed that the ePayLater powered by ICICI Bank Customer has no dispute on the ePayLater powered by ICICI Bank Facility and/or the charges indicated in the statements of usage of ePayLater powered by ICICI Bank Facility.
• Any other notices, requests, demands, waivers, complaints, queries and other communications arising out of any acts or omissions of the Merchants to whom the payment was made using the ePayLater powered by ICICI Bank Facility, shall be resolved between the ePayLater powered by ICICI Bank Customers and such Merchant/ ePayLater only and ICICI Bank shall have no responsibility or liability whatsoever in this regard. ePayLater shall be responsible for all service related issues. ePayLater’s customer care centre shall be accessible to all ePayLater powered by ICICI Bank Customers in case of any issues/ disputes arising.
• Contact Particulars of ePayLater Customer Care Centers: 
  All ePayLater powered by ICICI Bank Customer queries and grievances can be routed to ePayLater for resolution. ePayLater powered by ICICI Bank Customer can reach out by calling the customer care number- +91 1800 2000 595. The ePayLater powered by ICICI Bank Customer can also email their query or complaint to support@epaylater.in

Grievances Redressal/Complaints/Escalations:

• In the event the ePayLater powered by ICICI Bank Customer is not satisfied with the resolution of complaint, the ePayLater powered by ICICI Bank Customer may register his/her grievance by (i) visiting “Complaint Form” at www.icicibank.com or (ii) calling at ICICI Bank’s customer care number or (iii) writing to Ms. Sharlet Malvankar, Nodal Officer, ICICI Bank Limited, Bandra Kurla Complex, Mumbai, 400051, India. In all your communications with ICICI Bank, the ePayLater powered by ICICI Bank Customer should specify the mobile number registered with ICICI Bank.

Default and Recovery:

• If the ePayLater powered by ICICI Bank Customer fails to pay the Total Amount Due by the Payment Due Date it shall be treated as a default by the ePayLater powered by ICICI Bank Customer. In case of default, ICICI Bank can forward the default report to the credit information bureaus, third parties or to such other agencies as it may deem fit. The time period between the Payment Due Date and the next statement of usage of ePayLater powered by ICICI Bank Facility generation date is considered as the period within which ePayLater powered by ICICI Bank Customer may cure the default and avoid reporting of his name as a defaulter.
• By accepting these Terms and Conditions, ePayLater powered by ICICI Bank Customer permits ICICI Bank to share his/her (i) mobile number with ePayLater (so that ePayLater may send SMS relating to ePayLater powered by ICICI Bank Facility); and(ii) masked savings account number with ePayLater for providing ePayLater powered by ICICI Bank Facility.
• Collections: ICICI Bank shall be entitled, at the sole risk and cost of the ePayLater powered by ICICI Bank Customer, to engage one or, more person(s) to collect the ePayLater powered by ICICI Bank Customer’s dues and/or to enforce any security provided by the ePayLater ICICI Bank Customer, and ICICI Bank may (for such purposes) furnish to such person(s) such information, facts and figures pertaining to the ePayLater ICICI Bank Customer and the security as ICICI Bank deems fit. ICICI Bank may also delegate to such person(s) the right and authority to perform and execute all acts, deeds, matters and things connected therewith, or incidental thereto, as ICICI Bank deems fit.
• ICICI Bank shall submit the ePayLater powered by ICICI Bank Customer data to CIBIL - Credit Information Bureau (India) Limited every month in the format prescribed by CIBIL. This data shall include the repayment status of all ePayLater powered by ICICI Bank Customer, for the previous month.
• Recovery of dues in case of death/permanent disability of the ePayLater powered by ICICI Bank Customer shall be in accordance with the Applicable Laws after giving sufficient notice for re- payment of the Total Amount Due and any other information to the successors/nominees /legal heirs of the ePayLater powered by ICICI Bank Customer.
• Termination/Revocation/Surrender of ePayLater powered by ICICI Bank Facility: The ePayLater powered by ICICI Bank Customer may at any time choose to terminate ePayLater powered by ICICI Bank Facility by giving a prior notice of 60 calendar days.
• The termination shall only be effective once ICICI Bank receives the Total Amount Due in respect of ePayLater powered by ICICI Bank Facility from the ePayLater powered by ICICI Bank Customer.

Loss/Theft:

• In case of loss/theft/of phone linked to ePayLater powered by ICICI Bank Facility, it must be reported immediately to ePayLater and ICICI Bank through the customer care upon which ICICI Bank shall suspend the ePayLater powered by ICICI Bank Facility. The ePayLater powered by ICICI Bank Customer is advised to file an FIR with the local police station and provide a copy of the said FIR to the customer care executive of ePayLater/ICICI Bank if so requested. The ePayLater powered by ICICI Bank Customer shall be primarily responsible for the security of the ePayLater powered by ICICI Bank Facility including theft and for the transactions using the ePayLater powered by ICICI Bank Customer’s phone, whether authorized or unauthorized.
• In case of any dispute relating to the time of reporting such loss/ theft/damage and/or transactions made through ePayLater powered by ICICI Bank Facility post reporting of the loss/theft/damage/misuse, ICICI Bank reserves the right to ascertain such time and/or the authenticity of the disputed transactions. ICICI Bank reserves the right to block the ePayLater powered by ICICI Bank Facility on suspected risk of compromise in order to protect the interest of the ePayLater powered by ICICI Bank Customer. To avoid misuse in any manner on ePayLater powered by ICICI Bank Facility, the ePayLater powered by ICICI Bank Customer shall not be able to use the blocked ePayLater powered by ICICI Bank Facility for any transaction/s. In the event, the ePayLater powered by ICICI Bank Customer, after being informed by ICICI Bank of the probable fraud risk, still requests to unblock ePayLater powered by ICICI Bank Facility, ICICI Bank shall not stand liable or responsible in any manner for any fraudulent transactions reported to it thereafter on account of fraudulent usage of the ePayLater powered by ICICI Bank Facility or otherwise.

Disclaimer:

• ICICI Bank may at its sole discretion, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products.