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Welcome to the BETTR! Bettr is a digital community of like-minded individuals who believe in achieving financial freedom and security through mindful and responsible use of credit. Bettr serves the purpose of enabling individual and collective growth by offering timely access to quality credit for the underserved, underrepresented and marginalised, in a simple, transparent, and easy-to-use manner. We aim to be fair, convenient, safe, and human in our approach, treating our members

By accessing and using our Services (defined below), you are agreeing to these Terms of Service and our Privacy Policy,) (collectively referred to as the “Agreement”). We strongly urge you to read the Terms in detail before registering, accessing or using the App Services (defined hereunder).

Terms of Service (“Terms”)

The Terms set forth below shall form a binding legal contract between you and Mvalu Technology Services Private Limited (“the Company / Mvalu / We / Us / Bettr”) having its registered office at 1502 A Wing, The Capital C 70 G Block, Bandra Kurla Complex, Bandra E, Mumbai - 400051. You agree and acknowledge that you have read the Terms set forth below. We may amend the Terms at any time by posting an updated version on the App. The updated version of these Terms shall take effect immediately upon posting and may be notified, via the App. It is your responsibility to review these Terms periodically for updates / changes.

You have the right to opt-out of agreeing to these Terms, and therefore also using the App. If you are not comfortable with any of the Terms or do not wish to be bound by the same, you are at liberty to refrain from using the App and the App Services.

However, please be aware that your use of the App Services would mean deemed acceptance of these Terms and its associated policies mentioned here, including any modification thereof. As long as you comply with these Terms, Bettr grants you a personal, non-exclusive, non-transferable, limited license to use the App Services.

1. Scope of the App Services

Mvalu Technology Services Private Limited is the owner and controller of ‘BETTR’ which is a web-based mobile application that has integrated with multiple financial institutions, built strong intelligence capabilities and associated with various third-party data providers to build a robust system which can be used by any individual, looking for employment or extra earnings, get themselves on-boarded and start distributing financial products on our platform and includes other related facilities and services offered on BETTR currently or in the future, where such services can be accessed via the internet either on mobile and desktop/ laptop (“BETTR” or “App”).

2. Eligibility

By registering with BETTR and using the App Services, you are representing that

  • You are 18 years of age or older;
  • You are capable of entering into a legally binding agreement;
  • You are not barred or otherwise legally prohibited from accessing or using Bettr under the laws of India. If you allow anyone to use your account, including individuals under 18 years of age, you will still be responsible for ensuring that such individuals comply with the terms. You will be responsible for all actions these individuals take in and/or through your account. You also acknowledge that Bettr does not have the responsibility of ensuring that you meet the aforesaid requirements.

Please be aware that while Bettr has the right to grant you the license to use the App and the App Services, we also reserve the right to revoke or refuse the use of the same, subject to our reasonable discretion. In this regard, we may also choose to suspend your BETTR Account or your access to the same. As a registered User, in such an event, you may contact our support team to assist you/ resolve the situation. Additionally, do also note that these Terms are not an indicator or a guarantee towards the continued availability of the App Services.

3. Definitions

“Applicable Law” means all applicable laws, rules, regulations, guidelines, statutory or government notifications in India including Reserve Bank of India regulations.

“App Services” means the services mentioned in Section 1 vis-à-vis the App.

“BETTR Account” or “Account” means the account you create on BETTR for the use of the App Services.

“Privacy Policy” shall mean the policy governing our use of your personal information and data collected from you through the App, which will be available for your reference on the App.

“Transaction” means a payment or payment request made by the User for sending or receiving payments.

“UPI” means Unified Payment Interface.

“User” means a person who registers for the App Services vis-à-vis the BETTR Account.

“We” or “Us” means Bettr.

“You” or “Your” means a User.

Summary:

Those terms are supposed to be used as a reference to understand the stuff below.

4. Registering with Bettr

To avail our services you are required to first download our App, and then create a BETTR Account. Your account shall require you to and you agree to provide the following details:

  • Full Name;
  • Valid email address;
  • Mobile number

Bettr may require you to provide additional details, as and when required, in order to comply with any applicable regulatory requirement or for additional services/ products via the App, as and when offered, and may also utilize data lawfully obtained from third party service providers authorized by the User, including but not limited to data pertaining to the User’s credit score, to provide the App Services.

While completing the registration process you will be provided with a One-Time Password (OTP) or any other piece of information, as part of our security procedures. Kindly treat such information as confidential, and do not disclose it to any third party. In the event you disclose such information to a third party, Bettr shall not be responsible for any loss or damage that may occur. You agree to immediately notify us of any unauthorized use of your password, by sending details of the same to: help@Bettrcredit.com

You are responsible for any access to the App through your Account, whether such access is directly by you or through any third party. You will also be responsible and liable to us for all activities that take place or occur through and in your Account. You agree that your ability to log into your Account is dependent upon external factors such as internet service providers and internet network ability and we shall not be liable to you for any damages or consequences arising from your inability to log into your account.

By providing us with your email address and mobile number, you consent to our using the email address to send you service-related notices, including any notices required by law, in lieu of communication by postal mail. We may also use your email address / mobile number to send you other messages, including changes to features of the service and special offers. In order to efficiently deliver the App Services, you have given us your explicit consent to access your emails for the specific purpose of reading emails relevant to the App Services, including bank account statements, to analyse and identify fraudulent transactions, hidden charges etc. To the extent required for the App Services, any password-protected document will be accessed via automated means, by utilizing information provided by you to automatically generate passwords in order to safely access such documents.

You explicitly consent to allow BETTR to read SMS messages and emails then Bettr may, through automated means, access your messages on your mobile device/mobile number and mails on your registered email address to retrieve/use information from such messages and mails to provide you with enhanced services.

For the sake of clarity, if you choose to sign up for the BETTR product offering in the App, you will be consenting to provide Bettr with access and the right to use your information as set out below:

  • Access by Bettr to your emails, via the linked email address (this data will not be shared any 3rd party ever);
  • Use by Bettr of the information provided by you for marketing, promotional and business purposes, subject to the Bettr privacy policy; and
  • Access to information provided by you to third party service providers authorized to share such information, for the purpose of the App Services

5. Your Use of Bettr

When you use our App, you are representing to us that:

  1. Your use of the App shall not violate any applicable law or regulation, and that you fulfil the eligibility criteria set forth under Section 2;
  2. All registration information you submit is truthful, complete and accurate;
  3. Your use of the App, or its content is only for personal purposes. Your personal and non-commercial use of the App prevents you from decompiling, reverse engineering, disassembling content, removing any intellectual property right associated with our App, including copyright, trademarks, trade secrets, designs, and patents, or other proprietary notices.
  4. You shall not access or use the App in any manner that may be harmful to the operation of the App or its content;
  5. You shall not use any product or service available on the App for commercial purposes, or use the App Services in any way that is unlawful, or harms Bettr or any other person or entity;
  6. You will not post, distribute, or otherwise transmit or make available any software or other computer files that contain a virus or other harmful component, or otherwise impair or damage the App or any connected network, or otherwise interfere with any person or entity's use or enjoyment of the App.
  7. You will not delete or modify any content of the App, such as legal notices, disclaimers or proprietary notices, copyright or trademark symbols and logos.
  8. Your use of Bettr shall indicate that you have provided consent to automatically receive requested updates such as bug fixes, patches, enhanced functions, missing plug-ins and new versions (collectively, ‘Updates’), for the purpose of effective delivery of the App Services. Please note that your continued use of the App following such Updates would mean deemed acceptance by you of the same.

6. Fees

You are responsible for any fees that may be applicable to certain transactions or use of the App; where you will be notified of such applicable fees, prior to the completion of any transaction. Only if you consent to paying the above-mentioned fees, shall the transaction go ahead. All fees shall be determined by Bettr and will be inclusive of taxes.

7. Disputes

Bettr cannot and will not assure that other users are or will be complying with the foregoing rules or any other provisions mentioned here. You assume all risk of harm or injury resulting from any such lack of compliance by any other user or any person.

8. Violation of Terms of Use / Suspicious Activity

If we believe that you have violated any of the conditions as mentioned under these Terms or our privacy policy, we reserve the right to suspend your access to the App and/ or delete your Account. If we have reason to believe that there is suspicious or unusual activity being carried out through your account, we may temporarily or permanently suspend your access to the App Services. You may reach out to the BETTR support team to assist you with any query or question arising as a result of the afore-mentioned suspension/ deletion to resolve the same.

9. Privacy

We collect, hold, use and transfer your personal data in accordance with our Privacy Policy. By agreeing to the Terms of Use, you hereby agree to our Privacy Policy, which may be updated and/ or modified by us from time to time. You understand and agree that, to the extent permitted by applicable law, any data provided by you in connection with the App Services may be shared with our affiliates or partners, and/ or used by us for enhancing the App Services, including but not limited to creating new products.

10. Use and Protection of Intellectual Property Rights

Bettr and the App Services are protected by copyright, trademarks, patents, trade secret and/or other intellectual property laws. No information, content or material from the App may be copied, reproduced, republished, uploaded, posted, transmitted or distributed in any way without Bettr's express written permission. You are hereby given a limited licence to use the App Services, subject to your agreement of these Terms.

When you upload, submit, store, send or receive content that may include feedback to or through our App, you give Bettr a worldwide, perpetual licence to use, host, store, reproduce, modify, create derivative works, communicate, publish, publicly perform, publicly display and distribute such content. This licence shall not revert to you even if it is not used by Bettr. The rights you grant in this licence are for the limited purpose of operating, promoting, and improving the App Services, and to develop new ones. This licence continues even if you stop using the App Services.

11. Tax Liability

You hereby agree to comply with any and all applicable tax laws in connection with your use of the App Services, including without limitation, the reporting and payment of any taxes arising in connection with payments made through the App, or funds/income received through the App Services.

12. Representations and Warranties

The App Services, including all content, software, functions, material, and information made available or accessible through the Services are provided “as is”. Bettr, BETTR, their respective agents, co-branders or partners, make no representation and warranty of any kind for the content, software, functions, material, and information available/accessible through the Services.

Bettr does not warrant that the functions contained in content, information and materials on the App, including, without limitation any third-party sites or services linked to the App will be uninterrupted, timely or error-free, that the defects will be rectified, or that the App or the servers that make such content, information, and materials available are free of viruses or other harmful components.

13. Indemnification

You agree to defend, indemnify and hold harmless Bettr, its officers, owners, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, contractors and other applicable third parties (collectively ‘Indemnified Parties’) from and against any and all claims, demands, damages, obligations, losses, liabilities, cause of action, costs or debt, and expenses (including any legal fees) arising from:

  • your use of and access to the App;
  • your violation of any of these terms;
  • your violation of any third-party right, including any intellectual property right or privacy right;
  • he committing of any of the prohibited activities as stated here;
  • your failure to be in compliance with applicable law, including tax regulations; or
  • any claim that your use of the App caused damage to a third party.

14. Limitation of Liability

In no event shall Bettr, its officers, owners, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, or contractors be liable to you or any third party for any special, incidental, indirect, consequential or punitive damages or losses whatsoever, or damages for loss of data or profits, goodwill, and/ or other intangible loss, whether or not foreseeable and regardless of whether Bettr has been advised of the possibility of such damages, or based on any theory of liability, including breach of contract or warranty, negligence or other tortious action, or any other claim arising out of or in connection with your use of, or access to, the App or App Services.

Bettr’s total cumulative liability arising from or relating to these terms and conditions shall not exceed the net fees Bettr has actually received and retained from your valid transactions during the three (3) month period immediately preceding the date of the claim.

15. Force Majeure

Bettr and its officers, owners, directors, employees and agents, partners, co-branders, licensors, licensees, consultants, or contractors, distributors and service providers shall be relieved of all responsibilities, if any, in the event of failure of performance resulting directly or indirectly from an act of force majeure or causes beyond our reasonable control including, without limitation, acts of god, war, equipment and technical failures, electrical power failures, or fluctuations, computer virus attacks, strikes, labour disputes, riots, civil disturbances, shortages of labour or materials, natural disasters, orders of domestic or foreign courts or tribunals, non-performance of third parties, or any reasons beyond our reasonable control or any of the foregoing entities' respective resellers, distributors, service providers and suppliers. You further acknowledge and agree that neither we, nor any of the foregoing entities are responsible or liable for (a) any incompatibility between the App and any other website, service, software or hardware or (b) any delays or failures you may experience with any transmissions or transactions relating to the App in an accurate or timely manner. Some jurisdictions do not allow the exclusion of certain warranties or the limitation or exclusion of liability for incidental or consequential damages. Accordingly, some of the above limitations may not apply to you.

16. Redirects

When you use our App, you may have access to a link that directs you to a different site. The site you will enter into is not controlled by Bettr and different terms of use and privacy policy may apply. Bettr is not responsible for those sites, and may disable these links, upon our review and analysis of the same. Bettr disclaims all liability arising from your access to or use of such third-party sites.

17. Governing Law and Jurisdiction

The App, the App Services, all your transactions with the App, and our relationship shall be governed by the laws of India, without regard to conflict of law principles. You agree that all claims, differences and disputes which we may have shall be subject to the exclusive jurisdiction of the competent courts located in Mumbai.

18. Assignment

The licence granted hereunder may not be transferred or assigned by you. We may assign, in whole or in part, the benefits or obligations of this Agreement. We will provide an intimation of such assignment to you, which will be binding on the parties to these Terms of Use.

19. Waiver

Unless otherwise expressly stated in this Agreement, the failure to exercise or delay in exercising a right or remedy under the Terms of Use will not constitute a waiver of the right or remedy, and no single or partial exercise of any right or remedy under these terms will prevent further exercise of the right or remedy.

20. Severability

If any provision of the Terms of Use is or becomes, in whole or in part, invalid or unenforceable but would be valid or enforceable if some part of that provision was deleted, that provision will apply with such deletions as may be necessary to make it valid.

21. Contact us

If you have any concerns, complaints or grievances about the terms or other users or their manner of use of the application infringe or violate your rights or any complaints about how we handle your personal information, please feel free to contact the Grievance Officer any time at:

Email: grievances@bettrcredit.com

TransUnion CIBIL Terms and Conditions

To,

TransUnion CIBIL Limited [Formerly known as Credit Information Bureau (India) Limited]

Hoechst House, 6th Floor

193, Backbay Reclamation

Nariman Point

Mumbai – 400 021

Sub: Grant of Consent

Dear sir,

In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Mvalu Technology Services Private Limited (referred to as the “Company”) and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:

  1. The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
  2. I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
  3. I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
  4. I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL
  5. I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company.
  6. I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Mvalu Technology Services Private Limited authorizing Mvalu Technology Services Private Limited to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Mvalu Technology Services Private Limited to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the 'Authorize' button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Mvalu Technology Services Private Limited to obtain my Consumer Credit Information.
  7. I understand that in order to deliver the product to me, I hereby authorize Mvalu Technology Services Private Limited, to obtain my Consumer Credit Information from TUCL.
  8. By submitting this registration form, I understand that I am providing express written instructions for Mvalu Technology Services Private Limited to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Mvalu Technology Services Private Limited account. I further authorize Mvalu Technology Services Private Limited to retain a copy of my information for use in accordance with [COMPANY’S] Terms of Use and Privacy Policy.
  9. I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
  10. I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Release”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Release with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Company . I agree to defend, indemnify, and hold harmless the Release from and against any and all Losses resulting from claims made against TUCL by third parties arising from and in connection with this letter.
  11. I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.

Experian Credit Report Terms and Conditions

CONSENT IN RELATION TO ACCESS TO CREDIT INFORMATION THROUGH EXPERIAN

This End User Agreement (the “Agreement”) is made between you (the “User” or “You”) and Mvalu Technology Services Private Limited a private limited company having its registered office at 321,3rd Floor, E-wing, Kanakia Zillion, CST Road Junction, LBS marg, Kurla West Mumbai Mumbai City MH 400070 IN (“CLIENT”, “Us” or “We”, which term shall include its successors and permitted assigns). The User and CLIENT shall be collectively referred to as the “Parties” and individually as a “Party”.

You hereby consent to CLIENT being appointed as your authorized representative to receive your Credit Information on an ongoing basis for credit monitoring is satisfied or expiry of 6 months from date the consent is collected; whichever is earlier.

BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE EXPERIAN CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW) (TOGETHER REFERRED AS “CREDIT INFORMATION”). YOU HEREBY ALSO IRREVOCABLY AND UNCONDITIONALLY CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND CLIENT BY USING EXPERIAN TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN.

Terms and Conditions

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

CLIENT shall access your Credit Information as your authorized representative and CLIENT shall use the Credit Information for limited End Use Purpose consisting of and in relation to the services proposed to be availed by you from CLIENT. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein and in furtherance to applicable law including the CICRA.

The Parties agree to protect and keep confidential the Credit Information both online and offline.

The Credit Information shared by you or received on by us on your behalf shall be destroyed, purged, erased immediately upon the completion of the transaction/ End Use Purpose for which the Credit Information report was procured, this period not being longer than 6 months.

Governing Law and Jurisdiction

The relationship between you and CLIENT shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of Mumbai.

The relationship between you and MVALU TECHNOLOGY SERVICES PRIVATE LIMITED (“BETTR”) shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of Mumbai.

Definitions:

Capitalised terms used herein but not defined above shall have the following meanings:

Business Day” means a day (other than a public holiday) on which banks are open for general business in Mumbai.

Credit Information Report” “means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by Experian;

Credit Score” means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.

CICRA” shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.

PLEASE READ THE ABOVE MENTIONED TERMS AND CONDITIONS AND ACCEPT.

BY CLICKING “ACCEPT” YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made there under, and the amended provisions pertaining to electronic records.

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