FatakPay Referral Program – Terms and Conditions

Introduction

These Terms and Conditions (“T&C”) govern participation in the FatakPay Referral Program. By participating in the Referral Program, the Referrer and Referee agree to be bound by these T&C, the FatakPay General Terms and Conditions, Privacy Policy, and any product-specific terms displayed in the FatakPay app from time to time. FatakPay reserves the right to amend, modify, pause, or discontinue the program at its sole discretion, with or without prior notice.

1. Eligibility & Participation

The Referral Program is open to existing FatakPay users (“Referrer”) who share their unique referral link, code, or QR with a new user (“Referee”).

A Referee must:

• Be a new FatakPay user who has not previously registered* on the app.
• Sign up using the Referrer’s valid referral link/code/QR.
• Complete the required action(s) as defined for the referral reward (such as account registration, KYC completion, first transaction, first disbursement, or other qualifying actions displayed in-app).
• Be a resident of India, of  eligible age of atleast 18 years
  

Referrals originating from restricted sources, duplicate accounts, self-referrals, or any non-permitted acquisition channels may be deemed ineligible.

Participation in the program is voluntary. FatakPay may restrict or revoke eligibility for users who violate platform policies or applicable laws.

*Registered users are those that have completed any or all of the following steps on the app – signup/otp verified, kyc completion, 1st transaction/purchase on the app.

2. Referral Rewards & Qualification Criteria

Referral rewards are issued only when the qualifying conditions for a specific referral action are fully met and successfully verified.

Key points:

• Referral rewards may be issued to the Referrer, the Referee, or both, depending on the applicable referral condition.
• Rewards can be issued as FatakCoins or cashback (INR), as displayed in the app at the time of referral.
• Each referral action may have minimum requirements, validity periods, transaction thresholds, or verification checks.
• Completion of a referral action does not guarantee a reward unless all eligibility criteria are met.

Note: If attribution cannot be confirmed due to technical, tracking, or verification issues, FatakPay shall not be liable for reward issuance.

3. Reward Limits, Validation & Fraud Controls

The rewards for both Referees and Referred users have a controlled limit to ensure fair utilization of the program by each participant on a monthly basis. The following limits are configured in the system*:

• Maximum of 100 Referees.
• Maximum of 1,500 Coins per Referee.
• Maximum of ₹50 cash rewards per Referee cumulatively.
• Maximum of 150,000 Coins in aggregate.
• Maximum of ₹5,000 cash rewards for sign-up/KYC-related actions.
• Maximum of ₹5,000 cash rewards in aggregate.

*The limits are bound to change as per the reserved rights by FatakPay. There can be additional controls and limits that may define the eventual reward output, which may include:

• Per-user limits,
• Per-action limits,
• Daily, monthly, or lifetime caps, 
• Product-specific caps

FatakPay reserves the right to withhold, reverse, or cancel referral rewards in cases of:

• Duplicate or fake accounts
• Self-referrals or circular referrals
• Misuse of devices, IPs, or payment instruments
• Incomplete, reversed, cancelled, or fraudulent transactions
• Any attempt to manipulate the referral or reward mechanism

FatakPay’s decision on reward eligibility, validation, or disqualification shall be final and binding.

4. Cashback (INR) Rewards – Credit & Settlement

Where referral rewards are issued as cashback:

1. Cashback may be applied directly towards loan repayment, where applicable.
2. If eligible for bank transfer, cashback will be credited to the user’s verified bank account.
3. If bank details are not available or verified, the user may be prompted to add bank details within a specified time window.
4. In case of repeated bank transfer failures, cashback will be converted into FatakCoins.

All cashback settlements are subject to verification and reconciliation.

5. Program Modification, Suspension & Termination

FatakPay reserves the right to:

• Modify reward structures, eligibility criteria, or limits
• Pause, suspend, or terminate the Referral Program
• Disqualify users or cancel rewards at its discretion

No separate communication is required for such changes unless mandated by law.

6. General Terms & Conditions and Support Links

• General Terms & Conditions
• Support: For resolving queries, you may contact us

Note: The Referral Program is bound by the general terms and conditions of FatakPay.