Last Modified: May 15, 2018

Paysack is a Prepaid Payment Instrument (PPI) for employee benefits, reimbursements and business expenses. Paysack is a co-branded instrument issued by Equitas Small Finance Bank in collaboration with Mad Over Mobile Pvt Ltd (MOML).

The following Terms and Conditions shall be applicable to all the Paysack Account(s) which are existing or may be opened any time in future with Mad Over Mobile Pvt Ltd (MOML), a financial services company incorporated under the Companies Act, 1956 and having its Registered Office at Nirmala Farm, Old Madras Road Virgonagar Post, Bangalore – 560049, Karnataka INDIA.


  • Website” refers to the website owned, established and maintained by MOML located at the URL www.paysack.com;
  • Mobile Application” or “App” refers to the Paysack mobile application provided by MOML to the users;
  • Personal Information” refers to the information provided by the user to MOML by mobile app, email, web page of Equitas Small Finance Bank or in writing as may be deemed fit by MOML;
  • Account” or “Paysack Account” refers to the digital account opened ‘by’ or ‘for’ a business, an organisation or an employee (also user(s)) to use various Paysack products and services provided by MOML;
  • The Bank” refers to Equitas Small Finance Bank and its successors and assignees;
  • RuPay” means a trademark owned by and normally associated with National Payment Corporation of India (NPCI);
  • Card” or “Prepaid Card” or “Co-Branded Card” or “Multi-Bucket Card” refers to the Paysack RuPay Prepaid Card Card by MOML attached to a Paysack Account and issued by the bank to a Card Holder;
  • RuPay / Plus ATM Network” means ATMs that honour the Debit Card and that display the Rupay Card Holder or User shall mean employees/consultants/agents/distributors of an Enterprise, to whom a Multi-Bucket Card is issued, at the request of the Enterprise. Know Your Customer (KYC) documents refers to documents required from the company and employee as acceptable supporting documents for ID, address and/or signature proof;
  • Prepaid Payment Instrument (PPI)” refers to the co-branded semi-closed or open loop prepaid-instruments issued by the Equitas Small Finance Bank Limited under the authorisation received from Reserve Bank of India and marketed, distributed and managed by MOML.
    This prepaid instruments are offered through one of the following or a combination of two or more of the following forms:
    1. Mobile Wallets,
    2. Multi-Bucket Cards,
    3. Food Cards,
    4. Health Cards,
    5. Entertainment Cards,
    6. Gift Cards,
    7. Reimbursement Cards,
    8. Travel Cards,
    9. General Purpose Cards,
    10. Expense Cards,
    11. 15 Day Credit Cards,

    in electronic, digital and mobile wallet form factors along with the Digital/Plastic Cards of RuPay, Mastercard and/or Rupay brand Payment Networks.

2) Paysack Multi-Bucket Card and Mobile Wallet

Paysack Multi-Bucket Card and Mobile Wallet shall be issued by Equitas Small Finance Bank at the request of and upon nomination by the Enterprise subject to the Card Member fulfilling the eligibility criteria laid out by MOML. The Card Member and the Enterprise shall be bound jointly and severally by these Terms and Conditions, the Multi-Bucket Card Agreement and policies stipulated by MOML, from time to time, in this regard. The Multi-Bucket Card is a not transferable and a zero balance card at the time of issue. Each time an Enterprise desires to make a payment or reimbursement to the Card Member, it shall provide instructions to allocate the desired amounts to the Card Account and send a cheque/ DD of the desired amounts to MOML. The Multi-Bucket Card issued to you is valid for use only in India and for the purchase of goods in Indian currency only. The Multi-Bucket Card is the property of MOML and the Bank. It shall be subject to the Terms and Conditions mentioned herein and any additional conditions stipulated by MOML, from time to time. The Card Member shall sign on the reverse of the Card immediately upon receipt of the same, and ensure that the signature on all transaction slips signed by the Card Member are similar to the signature provided by the Card Member on the Multi-Bucket Card and Multi-Bucket Card Application Form submitted to MOML. In case the Card Member desires to alter his/her signature, the Card Member shall intimate MOML about the same and execute necessary documents as prescribed by MOML and/or under law, in this regard.

3) Eligibility Criteria

Residents of India of age 18 years and above, suitable to enter into a legally binding agreement, may use PPIs for transactions in India in Indian Rupee denominations only.

No individual or entity shall misrepresent its identity, age, other demographic, parental, residence, ownership, nature of business information or other such information required to enforce any laws and regulations of India, intentionally or accidentally, and wrongfully use PPIs. User shall be liable for all misrepresentations and/or wrongful usage of service in violations to these terms and conditions and/or the applicable laws and guidelines issued by the competent authorities of India.

MOML reserves the right to deny, suspend and terminate services at its discretion to an otherwise eligible user, with or without prior notice in any form, if it suspects, has reason to believe or upon request or instruction from a competent authority that any of the terms, rules, laws, regulations and guidelines are in violation by the usage of the user.

4) Paysack Account/Card Usage:

  1. The Paysack RuPay Prepaid Card is valid only in India. The Paysack RuPay Prepaid Card will be valid until the date mentioned on the card (~a period of 2 years). Before the end of validity, a new Card will be issued to all such Card Member who are active users of Paysack;
  2. The maximum amount balance on the card at any point will not exceed:
    * Rs.20,000.00 for cards issued with minimal KYC,
    * Rs.50,000.00 for cards issued with full KYC,
    * Rs. 1 lakh for cards issued with full KYC (without ATM withdrawals).
    For enabling ATM withdrawal or to load more that Rs. 20,000 (upto Rs. 1,00,000) on an employee’s card, full KYC documentation of the employee will need to be submitted. This is governed and subject to change in rules set by RBI.
  3. The features and usage of a Multi-Bucket Card may be defined by the Enterprise. MOML, the Bank and the Merchant Establishment concerned, reserve the right, at anytime, to refuse the use of the Multi-Bucket Card at Merchant Establishments or ATM, for any reason, whatsoever. The Multi-Bucket Card may be used only for bonafide personal or official purposes. It is clarified that Charges incurred, may, in case of some Merchant Establishment, include a Charge for the availment of the purchase, or other facility. Upon usage of the Multi-Bucket Card at the Merchant Establishment, the Card Member must collect the copy of the charge Slips/transaction slips at the time of making payment using the Multi-Bucket Card. Normally MOML shall not provide copies of the charge Slips/transaction slips to the Card Member; provided however that if the Card Member makes such request within forty-five days of the relevant transaction, MOML may, at its sole discretion, provide copies of the charge slips at a charge mentioned in the Tariff Annexure;
  4. Any charge levied by the Merchant Establishment on the purchases made by the Card Member using the Card, shall be settled by the Card Member with the Merchant Establishment directly and MOML or the Bank shall not be responsible for the same. Any dispute pertaining to such charges levied shall be settled between the Card Member and the concerned Merchant Establishment. MOML or the Bank shall not be liable, directly or indirectly, in any manner, whatsoever, for the same;
  5. The Card Member undertakes to act in good faith at all times in relation to all dealings with the Paysack Multi-Bucket Card, and Equitas Small Finance Bank. The Card Member accepts full responsibility for wrongful use of the Multi-Bucket Card in contravention of the Terms and Conditions contained herein and, undertakes and agrees to indemnify MOML and the Bank to make good any loss, damage, interest, conversion, any other financial Charge that MOML or the Bank may incur and/or suffer, whether directly or indirectly, as a result of the Card Member committing violations of the provisions thereof;
  6. The Card Member agrees that he/she will not use the Card as payment for any illegal purchase. The Multi-Bucket Card cannot be used for making purchases on the Internet, or otherwise, for the purchase of prohibited items like lottery tickets, banned or prescribed magazines, participation in sweepstakes, payment for call-back services, etc. There is no aggregate monetary ceiling separately prescribed for use of Multi-Bucket Card through the Internet;
  7. MOML and the Bank reserves unto itself the absolute discretion and liberty to decline or honour the authorisation requests on the Multi-Bucket Card, without assigning any reason thereof;
  8. MOML promotes the sale and distribution of these prepaid instruments through its mobile applications, websites and other channels either directly or through its channel partners, affiliates and other associates. MOML provides the software, app, product/services, connectivity and other infrastructure required to operate the prepaid payment instruments. MOML also provides customer support, dispute resolution and grievance redressal in all matters related to Paysack branded prepaid payment instruments.

5) Fees and Charges

1.Card Issuance & Annual FeesRs. 199 per card + Service Tax
2.Reissue of Lost, Stolen or Damaged Card FeesRs. 299 per instance + Service Tax
3.Card PIN Re-Issuance FeesRs. 99 + Service Tax
4.Domestic Cash Withdrawal FeeRs. 20 per transaction + Service Tax
5.Domestic Cash Withdrawal LimitRs. 10,000 per day
6.Petrol transaction charge2.5% (subject to a minimum of Rs. 10) + Service Tax
7.Railway ticket booking or cancellation surcharge2.5% of the transaction value (subject to a minimum of Rs. 25)
8.Account Closure chargesNIL
9.Transfer to other Paysack AccountNIL

MOML and the Bank reserves unto itself the absolute discretion and liberty reserve the right to change, update or modify these fees and charges, at any time, with prior intimation (25 days in advance) to you.

Service Tax, unless explicitly stated in this Schedule of Charges, as may be applicable from time to time on all fees, surcharge and other charges will be levied to the User.

6) Card Member

The Card Member agrees to adhere to and comply with all such Terms and Conditions as MOML or the Bank may prescribe, from time to time, for facilities/services availed of by the Card Member and, hereby agrees and confirms that all such transactions effected by or through facilities for conducting remote transactions including the Internet, World Wide Web, electronic data interchange, call centres, teleservice operations (whether voice, video, data or combination thereof) or by means of electronic, computer, automated machines, network or through other means of telecommunication, established by or on behalf of MOML or the Bank, for and in respect of such facilities/services offered, shall constitute legally binding and valid transactions when done in adherence to and in compliance with the Terms and Conditions prescribed by MOML or the Bank for such facilities/services, as may be prescribed from time to time. The Card Member hereby authorises MOML and the Bank to exchange, share or part with all the information relating to the Card Member’s details and payment history and all information pertaining to and contained herein to enhance the services provided by MOML and the Bank.

7) Customer Care

You can contact Customer Care by Call or WhatsApp: +918281446731 (available Monday to Friday, during business hours) or Email: care@paysack.com