FatakCoins – Terms and Conditions

These Terms and Conditions (“T&C”) govern the use of FatakCoins issued by FatakPay. By using or redeeming FatakCoins, the user agrees to be bound by these T&C, the FatakPay General Terms and Conditions, the 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 FatakCoin program at its sole discretion, with or without prior notice.

1. Issuance, Usage & Expiry

FatakCoins are reward points issued by FatakPay under referral programs, campaigns, and promotional activities.

Key terms of FatakCoins:

• Coin-to-INR value ratio: 10 FatakCoins = ₹1*
• FatakCoins can be redeemed only for eligible products or transactions where coin usage is enabled.
• Redemption may be subject to per-transaction limits, product-wise caps, or usage restrictions.
• FatakCoins are non-transferable, non-refundable, and cannot be exchanged for cash unless explicitly enabled.
• FatakCoins may be issued for a user’s own qualifying actions or, under the referral program, for qualifying actions performed by a referee. Rewards shall be applicable only to the specific qualifying action for the primary product. Ancillary or embedded products bundled within a transaction shall not be eligible for additional FatakCoins.
  

Expiry:

• Unclaimed FatakCoins may expire after 6 months, where applicable.
• All FatakCoins expire 12 months from the date of credit unless otherwise specified.
  

Additional Notes: 

• Expired coins cannot be reinstated. 
• FatakPay reserves the right to modify coin value, redemption options, expiry periods, and usage rules at any time.

*The coin to INR ratio is subject to change as per the discretion of FatakPay and may/may not be explicitly communicated at the time of change/campaigns

2. Reversals, Adjustments & Liability

FatakPay may reverse or adjust referral rewards or FatakCoins if:

• The underlying qualifying transaction is reversed or cancelled
• Fraud or misuse is detected after reward issuance
• Rewards were credited due to a technical or operational error

If FatakCoins have already been redeemed, FatakPay may adjust future rewards or restrict further redemptions.

FatakPay acts only as a facilitator of the Referral Program and shall not be liable for indirect losses arising from participation, except as required under applicable law.

3. Taxes & Compliance

Users are solely responsible for any tax liability arising from referral rewards or FatakCoins, in accordance with applicable laws.

4. Program Modification, Suspension & Termination

FatakPay reserves the right to:

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

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

5. FatakCoins redemption on product purchase

Where FatakCoins are awarded in connection with a product purchase or activation, whether by a user for their own qualifying action or by a referee under the referral program, the following shall apply:

• FatakCoins shall be issued only for the primary product purchased or activated.
• If the purchase or activation journey includes any ancillary, bundled, or embedded products, such additional products shall not be eligible for separate or incremental FatakCoins.
• The inclusion of embedded products within a transaction shall not increase or modify the FatakCoins value applicable to the primary product.

^Definition of “Product”– For the purposes of these Terms, “Product” refers to offerings available for purchase or activation within the FatakPay app that are eligible for FatakCoins rewards, which currently include:

• Loan 
• Insurance
• Digital Gold
• Credit Builder Program (FatakUdaan)
• Membership Plan 

FatakPay reserves the right to modify this list from time to time at its sole discretion.

6. General Terms & Conditions and Support Links

• General Terms & Conditions: https://fatakpay.com/terms-condition.
• Support: For resolving queries, you may contact us at https://fatakpay.com/contact-us.

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