Last updated 23th Jan, 2026
Introduction
This document is an electronic record in terms of the Information Technology Act, 2000 and rules thereunder as applicable and amended from time to time, including the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. This electronic record is generated by an electronic system and does not require any physical or digital signatures.
These Terms and Conditions (“Terms”) govern the usage of “Penguingateway Pay” which is a Prepaid Payment Instrument (“Penguingateway Pay”) issued by Penguingateway Payments India Private Limited (“Penguingateway”) a company incorporated under the Companies Act, 2013 having its registered office at Building No. 7, 10th Floor, Ecoworld, Sarjapur Marathalli Outer Ring Road, Bellandur, Bengaluru, Karnataka, India, 560103 (“Penguingateway” or “Issuer”). Penguingateway is duly authorized by the Reserve Bank of India (RBI) to issue and operate prepaid instruments in terms of the Payments and Settlement Systems Act, 2007 and directions, rules and regulations which are issued thereunder.
These Terms include Penguingateway’s Privacy Policy and Customer Grievance Redressal Policy and You are advised to read such policies to understand your rights and obligations for availing Penguingateway Pay services. Penguingateway may from time to time notify additional policies which become applicable to the usage of Penguingateway Pay services (“Policies”).
By registering for, using, or maintaining Penguingateway Pay or downloading any website / mobile applications through which Penguingateway Pay is provided, by you (hereinafter “You” / “Your” “User” / “Customer”) acknowledge having read, understood and accepted these Terms including all the Policies referred herein and agree to abide by the same. We encourage you to read the terms and conditions carefully before proceeding to avail the Penguingateway Pay services as the same constitutes a binding agreement between You and Penguingateway governing the usage of such services. If You do not accept these terms, please do not avail the Penguingateway Pay services.
You further acknowledge and agree that Penguingateway may, at its sole discretion, add to, modify or amend these Terms (including the Policies which are notified herein) from time to time and all such changes shall be communicated to all customers availing the Penguingateway Pay services . The Terms (together with the Policies) shall be made available on Penguingateway’s website [https://www.penguingateway.com/]. Penguingateway may further publish notices of general nature which are applicable to the Customers on its website or communicated through email / SMS communications or through any other mode as may be decided by Penguingateway. Such notices would have the same effect as a notice served individually to each customer. You shall be provided a period of 30 days from the issue of the notice, within which You shall have the right to close your PPI Account or discontinue availing the services, failing which, all such Terms (with modifications) shall be deemed to be accepted from the effective date mentioned in the notice. You shall be responsible to keep yourself updated and regularly check the terms and conditions, notices, communications so sent and/or uploaded on Penguingateway website from time to time
Definitions
“App” or “Website”: shall mean the Merchant owned and operated mobile application or the website through which Customers may avail the PPI and services connected therewith.
“Applicable Law” shall mean any statute, law, regulation, master direction, circular, guideline, ordinance, rule, judgment, notification, order, decree, injunction, arbitral award, bye-law, directive, requirement or other governmental restriction or any similar form of decision by any governmental authority having the force of law.
Penguingateway Pay: shall mean a prepaid payment instrument issued by Penguingateway that facilitates purchase of goods and services in partnership with its Merchant or under a co-branding arrangement and is made available through the App or Website.
Customer: shall mean any Person who obtains and uses Penguingateway Pay services.
Penguingateway Pay: shall mean a prepaid payment instrument issued by Penguingateway that facilitates purchase of goods and services in partnership with its Merchant or under a co-branding arrangement and is made available through the App or Website.
KYC: Know Your Customer as per the RBI Master Direction – Know Your Customer (KYC) Direction, 2016 RBI/DBR/2015-16/18 Master Direction DBR.AML.BC.No.81/14.01.001/2015-16.RBI norms
Full KYC PPI: shall mean such prepaid payment instrument that are issued after completing Know Your Customer (KYC) of the Customer. The Full KYC PPIs shall be used for purchase of goods and services, funds transfer or cash withdrawal.
Merchant: shall mean an entity that accepts Penguingateway Pay as an instrument for online and/or offline purchase of goods and/or services.
Types of Penguingateway Pay wallets
Penguingateway issues and operates the following types of prepaid instruments to its customers under the brand name “Penguingateway Pay”
Gift Wallet - This is a type of prepaid instrument which is used for undertaking purchases against the value stored therein from a specific Merchant only. Penguingateway enters into arrangements with Merchants desirous of issuing Gift PPIs for their Customers. Upon issuance and activation, Customer may utilise the balances stored in such Gift PPIs for undertaking payment transactions on such Merchant’s website or mobile applications.
Small PPI - This is a type of pre-paid instrument which can be availed by Customers via a group of clearly identified Merchants having tie-ups with Penguingateway for undertaking purchases / transactions against value stored therein .
Registration and Account Activation
Gift Wallet
Penguingateway onboards Merchants for facilitating Gift Wallets to such Merchant’s Customers. Customers in turn are required to register with such Merchants and provide such details as may be requested by such Merchant. Please note that sharing of information by the Customers with the Merchants will be governed by terms and conditions as available on the Merchant’s websites / mobile applications (including privacy policies as notified therein) in addition to these Terms. The Merchant’s terms may specify additional restrictions such as restriction on goods / services which can be purchased, limits on number of transactions or amounts etc. You are advised to read such terms and conditions before availing the Gift Wallets.
For issuance of such Gift Wallets, Penguingateway shall authenticate the mobile numbers or any other details as may be required by Penguingateway of the Customers which are received from the Merchant. Customer may further be required to provide additional details (please refer to Privacy Policy) for account activation. Once such Gift Wallet is issued, Penguingateway or the Merchant shall communicate the activation of the Gift Wallet for such Customers through SMS / Email or any modes of communication.
Small PPI
i. Customers may apply for a
Small PPI wallet while undertaking a transaction flow with certain onboarded Merchants where
Penguingateway also provides other services. Customers are required to provide contact details
such as name, email and mobile number and raise a request for availing Penguingateway’s Small PPI
wallet.
ii. Where a Customer opts to
avail Small PPI, such Customer will be provided a link to complete their onboarding journey
by provide such information and documents as may be requested through the link. Once such
information is received, the documents are validated by Penguingateway and the Small PPI wallet is
enabled. Details of Small PPI will be provided to Customers through email and SMS. The Small
PPI will be linked to the mobile number shared by the Customer.
iii. Please note that only one Small PPI Wallet can be enabled for a Customer
at any given time and Penguingateway may decline issuance of a Small PPI Wallet where it is
observed that the Customer is an existing customer.
General
i. Penguingateway reserves the right
to reject request for issuance of Penguingateway Pay or otherwise suspend any services provided
through Penguingateway Pay as per its internal policies and risk frameworks including where any
details furnished by You are found to be false, incorrect, misleading or suspicious.
ii. You specifically authorise, and provide your consent to, Penguingateway to
collect, retain, store, process any information or data as may be provided by You or as may
be received by Penguingateway from any Merchants for the purpose of account activation, provision
of Penguingateway Pay services, resolution of queries, fraud and risk monitoring, analytics and
transaction monitoring purposes. You further acknowledge that all such information as may be
received by Penguingateway may be shared with third parties including service providers of
Penguingateway providing services including services related to account verification, document
verification, risk analytics, cloud computing and storage, audit, legal services etc.
Penguingateway may from time to time also develop and market various promotional offers by itself
or on behalf of its Merchants for Customer. You provide your consent to Penguingateway to
processing of your data / information by Penguingateway to create and provide specific and
targeted promotional offers. Such promotional offers may be subject to specific terms and
conditions, including eligibility criteria, validity periods and other terms as may be
separately notified by Penguingateway.
Accessibility
Customers of Penguingateway Pay can access the account related information of their Penguingateway Pay services by visiting the Penguingateway website https://www.penguingateway.com/customers/dashboard. Customers may log in through the credentials which are provided by Penguingateway at the time of account activation.
Representations and Warranties
You represent and warrant that:
You are at least 18 years old;
You are a citizen or a legal resident of India;
You have full legal capacity and authority to agree and bind yourself to these Terms;
You are not barred or otherwise legally prohibited from accessing or using the Service;
All information that you provide for issuance of Penguingateway Pay is complete, true, and correct and shall continue to be complete, true, and correct while you use Penguingateway Pay;
You are not politically exposed (PEP) or related to a PEP. If you are a PEP or related to a PEP, you undertake to notify Penguingateway by writing to the Nodal Officer (details provided below) prior to availing the Penguingateway Pay services;
You will not load the Small PPI with proceeds or source of funds which are directly or indirectly related to Cryptocurrencies, VDA (Virtual Digital Assets), Foreign Currencies/ Foreign Exchange, Gambling, Gaming, Pornography or any other activity which is prohibited under applicable laws.
You will not spend funds that are on Penguingateway Pay for undertaking any transactions which are directly or indirectly related to Cryptocurrencies, VDA (Virtual Digital Assets), unauthorised Foreign Currencies/unauthorised Foreign Exchange, Gambling, Gaming or any other activity which is prohibited under applicable laws.
You have not fabricated or forged any KYC documents or user details submitted and they are genuine in nature.
You shall not interfere with another Customer’s use and enjoyment of the Platform or any other individual's User and enjoyment of similar services.
Usage of PPI
While using Penguingateway Pay to purchase goods or services from the Merchant, the Customer is subject to the terms and conditions for availment of products and services as specified by the Merchant. Penguingateway is not responsible for the quality, merchantibility, warranties, fitness for purpose or delivery of the products or services by Merchant. In addition, issues pertaining to Merchant’s products or services including refund return, exchange or cancellation policies and disputes redressal with respect to the Merchant’s products or services shall be governed by the terms and conditions as may be available on the Merchant’s website / mobile applications.
While Penguingateway adopts stringent policies at the time of onboarding of any Merchants and continuously monitors the risks associated with such Merchants, Penguingateway does not assume responsibility for the quality, delivery, merchantability or fitness for any purpose of such Merchant’s products and services. If you have any grievances associated with the transactions for purchase of goods and services undertaken using Penguingateway Pay, you may notify Penguingateway in accordance with the Grievance Redressal process as specified below. .
The Customer specifically acknowledges that Penguingateway shall not be liable, and you agree not to seek to hold Penguingateway liable, for the conduct of the Merchant.
Key Features
