Spice Money

Spice Money, a business unit of Spice Digital, uses unrivalled technology to enable next door kirana store to function as a 'MINI BANK' Branch. We are one of India’s largest tech-enabled Hyper Local Payments Network offering various services like Cash Deposit, Cash Withdrawal, Balance Inquiry, Bill Payments, Aadhaar Enabled Services, Air Time Recharge, POS Services, Railway Ticketing Services etc. through our authorized agents.

Our endeavour is to bridge the gap between the served and the un-served, providing banking services to customers at their doorstep. We are a one-stop solution for providing seamless financial services.

Our Focus is primarily on Financial Inclusion – with our Deep presence in “Bharat” with nearly 85% of the 70,000 Customer Service Points in semi-urban and rural India.

Spice Digital Limited

Customer Protection, Customer Liability and Grievance Redressal Policy

Policy version 1.5 last reviewed in February, 2019- to be effective from 1st March, 2019.

The policy on “Spice Digital Limited – Customer Protection, Customer Liability and Grievance Redressal Policy” stipulates the guiding principle, standard operating procedure and framework for (i) customer protection; (ii) limiting customer liability in respect of unauthorized electronic payment transactions and (iii) for registering, processing and closing a customer grievance

For the purpose of this Policy, the terms ‘Customer’ and ‘PPI holder’ have been interchangeably used.

1. Customer Protection

1.1 Spice Digital Limited(“the Company”) shall be fully transparent in the pricing, terms and conditions of all financial products. The organization shall disclose all important terms and conditions in clear and simple language(in English and Hindi) comprehensible to the customers while opening/issuing a PPI. These disclosures include:

  • All charges and fees associated with the use of the PPI instrument
  • The expiry period of the PPI instrument and the terms and conditions pertaining to expiration of the PPI instrument
  • The customer service telephone numbers and website URL

1.2 Additionally, the Company, in order to promote customer protection shall ensure the following:

(a) Ensure uniformity in charges at agent level
(b) Disclosure of charges for various types of transactions on its website, mobile app, agent locations, etc.
(c) Specific agreements with agents prohibiting them from charging any fee to the customers directly for services rendered by the behalf of the Company
(d) Require each retail outlet/sub-agent to post asignage indicating their status as service providers for the Company and the fees for all services available at the outlet
(e) The amount collected from the customer shall be acknowledged by issuing a receipt (printed or electronic) on behalf of the Company

1.3 The Company employs respectful customer interaction practices and adopts high ethical standards in the treatment of customers. The Company gives customers a way to address their complaints so they can be served more effectively.
1.4 The Company shall provide the details of their authorized / designated agents (name, agent ID, address, contact details, etc.) through customer care support team.Moreover,a list of agents shall also be available on https://www.spicemoney.com/. All the information regarding customer care support team (timing, contact detail etc) shall be available on the website / mobile app. Customer support team shall be available all days except government holidays.
1.5 The Company shall create sufficient awareness and educate customers in the secure use of the PPIs, including the need for keeping passwords confidential and not sharing confidential information with anyone.
1.6 The Company will provide an option for the PPI holders to generate/receive account statements for atleast past 6 months.The account statement shall, at the minimum, provide details such as date of transaction, debit / credit amount, net balance and description of transaction. Additionally, the Company shall provide transaction history for at least 10 transactions.
1.7 The Company will display Frequently Asked Questions (FAQs) on its website / mobile app related to the PPI.

2. Customer Liability in respect of unauthorized electronic payment transactions through a PPI

2.1 Customer liability arising out of an unauthorized electronic payment transaction will be limited to:

ParticularsMaximum liability of Customer (PPI holder) (₹)
In case of contributory fraud/ negligence/ deficiency on the part of the Company (irrespective of whether or not the transaction is reported by the PPI holder).Zero liability
Third party breach where the deficiency lies neither with the Company nor with the customer but lies else where in the system, and the customer notifies the Company regarding the unauthorised payment transaction. The per transaction customer liability in such cases will depend on the number of days lapsed between the receipt of transaction communication by the customer from the Company and the reporting of unauthorised transaction by the customer to the Company-
i. Within three days*Zero Liability
ii. Within four to seven days*Transaction value or Rs. 10,000 per transaction, whichever is lower.
iii. Beyond seven days*Transaction Value
In cases where the loss is due to negligence by a PPI Holder, such as where he has shared the payment/login credentials, the Customer will bear the entire loss until he/she reports the unauthorized transaction to the Company. Note: Any loss occurring after the reporting of the unauthorized transaction shall be borne by the Company. Actual Transaction value


*The number of days mentioned above shall be counted excluding the date of receiving the communication from the Company.

2.2 Reversal timeline for zero liability/ limited liability of a customer:

a) On being notified by the Customer, the Company shall credit (notional reversal) the amount involved in the unauthorized electronic payment transaction to the Customer’s PPI within 10 days from the date of such notification by the Customer (without waiting for settlement of insurance claim, if any), even if such reversal breaches the maximum permissible limit applicable to the PPI. The credit shall be value-dated to be as of the date of the unauthorized transaction.
b) The Company shall ensure that a complaint is resolved, and liability of the Customer, if any, established within 90 days from date of receipt of the complaint, and the customer is compensated as per provisions herein above. In case the Company is unable to resolve the complaint or determine the customer liability, if any, within 90 days, the amount as prescribed herein above shall be paid to the customer, irrespective of whether the negligence is on the part of Customer or otherwise.

2.3 The Company shall ensure that its customers mandatorily register for SMS alerts and wherever available also register for e-mail alerts, for electronic payment transactions.

2.4 The SMS alert for any payment transaction in the account/ PPI shall mandatorily be sent to the customers and e-mail alert may additionally be sent, wherever registered. The transaction alert shall have a contact number and / or e-mail id on which a customer can report unauthorized transactions or notify the objection.

2.5 Customers shall be advised to notify the Company of any unauthorized electronic payment transaction at the earliest and, shall also be informed that longer the time taken to notify the Company, higher will be the risk of loss to the Company / customer.

To facilitate this, the Company shall provide customers with 24x7 access via website https://www.spicemoney.com / SMS / e-mail for reporting unauthorized transactions that have taken place and / or loss or theft of the PPI. Further, a direct link for lodging of complaints, with specific option to report unauthorized electronic payment transactions shall be provided by the Company on mobile app / home page of their website https://www.spicemoney.com. The loss / fraud reporting system so established shall also ensure that immediate response (including auto response) is sent to the customers acknowledging the complaint along with the registered complaint number. The communication systems used by the Company to send alerts and receive their responses thereto shall record time and date of delivery of the message and receipt of customer’s response, if any. This shall be important in determining the extent of a customer’s liability. On receipt of report of an unauthorized payment transaction from the customer, the Company shall take immediate action to prevent further unauthorized payment transactions in the PPI. In this respect, the Company shall temporarily block the wallet of customer till investigation to prevent further misuse.

2.6 The Company shall put in place a suitable mechanism and structure for reporting of the customer liability cases to its Board of Directors or one of its Committees. The reporting shall, inter-alia, include volume / number of cases and the aggregate value involved and distribution across various categories of cases. The Board of Directors or one of its Committees shall periodically review the unauthorized electronic payment transactions reported by customers or otherwise, as also the action taken thereon, the functioning of the grievance redressal mechanism and take appropriate measures to improve the systems and procedures.

3. Customer Grievance Redressal

As a service organization,customer service and customer satisfaction are of prime concern to Spice Digital Ltd. We believe that providing prompt, user friendly and efficient service is the foundation for best user experience.
This policy document aims at minimizing instances of customer complaints and grievances through proper service delivery and review mechanism and to ensure prompt resolution of customer complaints and grievances. There view mechanism envisages identifying shortcomings in product features and service delivery.

3.1 Underlying Principles Spice Digital Ltd’s policy on grievance redressal is based on following principles,

  • Customers are treated fairly at all times
  • A complaint is an expression of dissatisfaction made to an organization relating to its products, services or the complaint handling process where a response or resolution is explicitly or implicitly expected
  • Complaints raised by customers are dealt with courtesy and on time
  • Customers are informed of avenues to escalate their complaints/grievances within the organization and their rights to alternative remedy, if they are not fully satisfied with the response from Spice Digital Ltd. to their complaints
  • All initiatives and strategies developed by Spice Digital Ltd. are made with the customer as the prime focus
  • Prompt and efficient customer service is essential for business growth
  • Constantly devising newer and smarter mechanisms to receive and redress customer grievances and details of such mechanism be placed in the domain of public knowledge
  • The company promises to rectify any issue faced by a customer effectively and immediately

3.2 Ways to reach us

1. Website: Visit the 'Contact Us' section on our website www.spicemoney.com, fill in the details of your query and submit the form.
2. Email: You can email your queries, concerns, feedbacks and complaints to customercare@spicemoney.com
3. Phone: You can also contact our customer care number 0120-3986786,5077786 between 7:00 AM and 11:00 PM, on all days.

These mechanisms are dedicated for redressing our customer complaints, providing online resolution wherever possible, and capturing valuable feedback regarding our services.
On receiving customer feedback, our executives would reach out to the customers if need be and ensure that all grievances are addressed within the estimated times to address the complaints.

3.3 Timelines for Grievance Resolution

Suitable timelines have been set for every complaint depending upon the investigations which would be involved in resolving the same. Here are the estimated timelines at various levels of queries/escalations

DetailsTurnaround Time (TAT)
First response to a user’s query/ concern24 hrs
Follow-up queries48 hrs
Resolution of escalated cases7 days
Resolution of customer grievances15 days
Concern raised to Nodal officer15 days

In case customer has not received any response from the Company within defined timelines or he is not satisfied with the response of the Company, he may file the complaint with ombudsman appointed by RBI as per ombudsman scheme for Digital transaction. Ombudsman scheme, form of complaint and contact details of ombudsman are given at https://rbidocs.rbi.org.in/rdocs/Content/PDFs/OSDT31012019.pdf

3.4 Escalations

Spice Digital will try to address customer’s feedbacks, queries and complaints to the best effort basis; However, if the customer wants further recourse, the escalation matrix for the same is outlined below:

Level 1
Visit the 'Contact Us' section on our website www.spicemoney.com or write to us at customercare@spicemoney.com . You can also call our customer care number 0120-3986786,5077786 between 7:00 AM and 11:00 PM, on all days

Level 2
Write to our Grievance Officer, Ms Shivani Arora ( Shivani Arora mentioned in Sender T&C) at shivani.arora@spicemoney.com with a copy to mcom.support@spicemoney.com

Level 3
Write to our Nodal Officer at below address.

Spice Digital Limited,
Global Knowledge Park,
19A & 19B, Sector 125,
NOIDA 201301,
Uttar Pradesh, India.
Kind Attention: Mr. Amit Sharma
Email: grievances@spicemoney.com
Contact Number: 0120-3859415
Earn ₹ 20,000 to ₹ 50,000 every month