Terms of Use

1. About Yungly Pay

Yungly Pay is an early-stage fintech concept founded by Adhil Rahman A, based in Kerala, India. The product is currently in prototype and partnership exploration stage, with a focus on building a teen-first prepaid UPI wallet through licensed banking/PPI partners.

When launched through a licensed partner, Yungly Pay is designed to provide teenagers with a mobile wallet, the ability to send and receive money, and access to partner discounts — all within limits set by RBI guidelines and guardian controls.

Any regulated payment, wallet, or banking services will be offered only through licensed banking/PPI partners, subject to applicable regulatory approvals and partner onboarding. Yungly Pay itself does not operate as a bank, NBFC, or PPI issuer.

2. Eligibility

• You must be between 13 and 17 years old to create a Yungly Pay account
• You must be a resident of India
• You must have a valid mobile number registered in India
• A parent or guardian must provide verifiable consent before your account is activated
• Users who turn 18 may continue using the service but must complete adult KYC verification within 90 days

3. Your account

• You are responsible for keeping your login credentials and PIN secure
• Never share your OTP, PIN, or password with anyone — including anyone claiming to be from Yungly Pay
• You must notify us immediately at info@yunglypay.in if you suspect unauthorised access to your account
• Each person may have only one Yungly Pay account
• We reserve the right to suspend accounts we suspect are being used fraudulently or by an ineligible user

4. Wallet & transactions

• Your Yungly Pay wallet is a prepaid instrument — you can only spend money that has been loaded into it
• Wallet loading limits will be set in accordance with RBI PPI guidelines and may vary based on your KYC level
• Transactions are processed in real time and are generally irreversible once confirmed
• If a transaction fails and money is deducted, it will be refunded within 3–5 business days, subject to partner bank timelines
• We are not responsible for losses arising from transactions you authorise, even if you were deceived into doing so
• Spending limits may be set by your guardian and are enforced by the app

Yungly Pay is designed to reduce failed transactions through reliable payment infrastructure and partner-backed rails. However, we cannot guarantee uninterrupted transaction success as this is subject to partner bank/PPI infrastructure and network conditions.

5. Fees

Yungly Pay is designed with minimal fees. Planned fee structure (subject to partner and regulatory approvals):

• Account creation: Free
• Wallet loading: Free (subject to banking partner charges)
• Peer-to-peer transfers: Free up to limits set by RBI
• Merchant payments: Free for the user; merchant interchange fee may apply
• Wallet withdrawal to bank: As per RBI guidelines

We will always notify you of any fee before you confirm a transaction. We will give at least 30 days notice before introducing any new fees. Final fee structure will be confirmed upon partner and regulatory onboarding.

6. Acceptable use

You may use Yungly Pay only for lawful purposes. You must not:

• Use the app for gambling, illegal purchases, or any activity prohibited by Indian law
• Attempt to hack, reverse engineer, or tamper with the app or its systems
• Use the app to harass, defraud, or harm other users
• Create multiple accounts or share your account with others
• Use the app for business transactions (Yungly Pay is for personal use only)
• Attempt to load money from fraudulent or stolen sources

Violation of these rules may result in immediate account suspension and reporting to relevant authorities.

7. Guardian responsibilities

By providing consent for your child to use Yungly Pay, you (as parent/guardian) agree to:

• Monitor your child's transactions via the guardian dashboard
• Set appropriate spending limits for your child's account
• Ensure your child uses the app responsibly and in accordance with these terms
• Notify us immediately if your child's device is lost or the account is compromised
• Accept responsibility for any transactions authorised from your child's account

Yungly Pay is not liable for disputes between a minor and their guardian regarding wallet usage.

8. Partner merchants & offers

Yungly Pay may offer discounts or cashback when you pay at partner merchants (such as edtech platforms). These offers are:

• Subject to change or withdrawal at any time by the merchant or Yungly Pay
• Not guaranteed and may have eligibility conditions
• Not transferable and for personal use only
• Subject to partner merchant agreements being finalised

Yungly Pay is not responsible for the quality, delivery, or refund of goods or services purchased from partner merchants. Disputes with merchants must be resolved directly with the merchant.

9. Intellectual property

All content associated with Yungly Pay — including the name, logo, app design, and website — is owned by or licensed to Yungly Pay. You may not copy, reproduce, or use our branding without written permission.

By using our app, you do not gain any ownership rights to our intellectual property.

10. Liability & disclaimers

Yungly Pay is provided "as is" and is currently in prototype/MVP planning stage. We do our best to ensure the platform works reliably, but we cannot guarantee uninterrupted service. We are not liable for:

• Loss of funds due to user error (e.g. sending money to the wrong person)
• Losses arising from third-party fraud where you have shared your credentials
• Temporary service unavailability due to maintenance or technical issues
• Actions of partner merchants
• Delays arising from partner bank/PPI infrastructure or regulatory processes

Our maximum liability to you in any circumstance is limited to the balance in your Yungly Pay wallet at the time of the incident.

11. Termination

You may close your account at any time by contacting info@yunglypay.in. Any remaining wallet balance will be refunded to the source bank account within 7 business days.

We may suspend or close your account without notice if:

• You violate these terms
• We suspect fraudulent or illegal activity
• Required by law or a regulatory authority
• Guardian consent is withdrawn

12. Disputes & governing law

These terms are governed by the laws of India. Any disputes shall be subject to the exclusive jurisdiction of the courts of Kerala, India.

For complaints or disputes, please first contact our support team at info@yunglypay.in. We aim to resolve all complaints within 15 business days. If unresolved, you may approach the RBI Ombudsman for Digital Transactions once regulated services are active.

13. Contact us

• General & support: info@yunglypay.in
• Privacy queries: privacy@yunglypay.in
• Partnership enquiries: info@yunglypay.in
• Address: Yungly Pay, Kerala, India