Terms of Service

Last updated: 16 June 2026 Effective date: 16 June 2026

These Terms of Service (“Terms”) govern your access to and use of the SquareNow website at https://squarenow.co.in, the SquareNow Android application distributed on Google Play, the SquareNow web console, and any APIs branded “SquareNow” (together, the “Service”). The Service is operated by Kapiital Systems Private Limited (“Kapiital”, “we”, “our”, “us”), an Indian company with registered office at [CONFIRM: registered office address].

By accessing or using the Service, you agree to be bound by these Terms. If you are accessing the Service on behalf of an organisation (e.g. as an employee of a lender that has subscribed to SquareNow), you confirm that you have authority to bind that organisation, and “you” includes that organisation.

If you do not agree to these Terms, do not use the Service.

1. The relationship between these Terms and the customer contract

If your organisation has signed a separate written agreement with Kapiital for SquareNow (a Master Services Agreement, Order Form, Data Processing Addendum, or equivalent — together the “Customer Contract”), that Customer Contract governs the commercial relationship. These Terms apply in addition, and where there is a direct conflict the Customer Contract prevails for the contracting parties.

For website visitors, app users without a Customer Contract, demo accounts, and free-trial users, these Terms are the entire agreement (together with the Privacy Policy).

2. Eligibility

You may use the Service only if all of the following are true:

• You are at least 18 years old (or the age of majority in your jurisdiction, if higher).
• You have the legal capacity to enter into a binding contract under the Indian Contract Act, 1872 or the law of the jurisdiction in which you are accessing the Service.
• You are not barred from receiving the Service under the laws of India, the jurisdiction in which you are located, or any other applicable jurisdiction.
• You are accessing the Service in the course of work at a regulated lender, an authorised partner, an authorised vendor, or to evaluate the Service for one of those purposes.

The SquareNow Android app is intended for staff of subscribing lenders. It is not designed for, or directed at, retail consumers.

3. Accounts

To use most of the Service, you need an account.

• Provisioning. Accounts are provisioned by an administrator at your organisation. Self-signup may be offered on the website for evaluation purposes only.
• Credentials. You are responsible for keeping your password and authentication factors confidential. Sharing accounts is not permitted.
• Accurate information. You must provide accurate, current, and complete information at sign-up and keep it updated.
• Authorised use only. You may use the Service only for the purpose your organisation has subscribed for and only within your assigned role.
• Notification of compromise. You must promptly notify us at [CONFIRM: security@kapiital.com] if you suspect your account has been compromised.

4. Acceptable use

You agree not to:

1. Use the Service for any unlawful purpose, including (without limitation) money laundering, financing of terrorism, fraud, or any violation of RBI directions, PMLA, the IT Act 2000, the BNS 2023, or other Indian law.
2. Use the Service to process the data of any individual without a lawful basis under the DPDP Act 2023 and applicable RBI/sectoral law.
3. Circumvent, disable, or interfere with security features, rate limits, authentication, audit logging, or any other technical control.
4. Reverse-engineer, decompile, or disassemble the Service, except to the limited extent expressly permitted by law that cannot be contracted out of.
5. Scrape, copy, or republish material from the Service except for ordinary in-product use.
6. Send to the Service any content that is unlawful, defamatory, obscene, infringes a third party’s rights, or contains malware.
7. Use the Service to send unsolicited commercial communications in violation of the TCCCPR 2018 or comparable regulations.
8. Use the Service to build a competing product or to benchmark performance without our written consent.
9. Probe, scan, or test the vulnerability of the Service except under a written authorised disclosure programme ([CONFIRM: security@kapiital.com]).
10. Falsely represent that you or your organisation are affiliated with Kapiital, with a regulator, or with any third party.

We may suspend access immediately to prevent harm to the Service, to users, to a customer, or to third parties, and will give notice as soon as reasonably practicable.

5. Customer data, lender data, and AI agents

5.1 Ownership

You (or your organisation) retain all rights in the data you submit to the Service (“Customer Data”). We claim no ownership of Customer Data.

5.2 Licence to operate the Service

You grant Kapiital a worldwide, non-exclusive, royalty-free licence to host, copy, transmit, display, and process Customer Data solely as required to provide and operate the Service, to perform our obligations under the Customer Contract, and to comply with law. This licence ends when the Customer Data is deleted from the Service in accordance with the Privacy Policy and the Customer Contract.

5.3 AI agents

The SquareNow platform executes lender-configured workflows using AI agents (for KYC verification, underwriting policy match, collections nudges, and similar tasks). The lender remains responsible for credit policy, regulatory decisions, customer outcomes, and any communication sent to a borrower. Kapiital’s role is to execute the configured policy faithfully and to log the actions taken.

We do not train models that are made available to other customers on a customer’s identifiable data. Where we use Customer Data to improve the Service, it is de-identified and aggregated, except where a Customer Contract permits otherwise.

5.4 No legal, regulatory, or credit advice

Outputs of the AI agents (recommendations, score interpretations, policy matches, suggested communications) are decision-support, not advice. The lender’s authorised personnel must apply human judgment for any decision that requires it under RBI directions, the Fair Practices Code, or other applicable law.

6. Intellectual property

The Service, including all software, models, designs, text, graphics, the SquareNow name and logo, and the underlying technology, is the property of Kapiital or its licensors. Except for the limited right to use the Service granted in these Terms or in a Customer Contract, no rights are transferred to you. Feedback you provide may be used by Kapiital without restriction or obligation, on a non-confidential basis.

7. Third-party services

The Service integrates with third-party services (credit bureaus, the GSTN, the MCA portal, NSDL/UTI for PAN, Account Aggregators, WhatsApp Business, payment gateways, telephony providers, cloud infrastructure, and others). Your use of those services is governed by their own terms and privacy policies. Kapiital is not responsible for those third parties except as expressly set out in a Customer Contract.

8. Mobile application — Google Play

The SquareNow Android app is distributed through Google Play. Your use of the app is also subject to Google Play’s Terms of Service and the Google Play Developer Distribution Agreement. The app permissions used by SquareNow are described in the Privacy Policy. You may uninstall the app at any time. To delete the account itself, follow https://squarenow.co.in/account-deletion.

9. Fees, taxes, billing

If a Customer Contract applies, fees, billing terms, and taxes are governed by it. For trial and evaluation use, no fees apply, and the access provided is at Kapiital’s discretion. GST is charged in addition to listed fees at the applicable rate.

10. Term and termination

These Terms remain in effect for as long as you use the Service.

• Termination by you. You may stop using the Service at any time. If you have a Customer Contract, the termination provisions of that contract apply.
• Termination by us. We may suspend or terminate your access if you materially breach these Terms, if required by law, or if continued provision would create a security or compliance risk.
• Account deletion. Account deletion is described at https://squarenow.co.in/account-deletion.
• Effect of termination. On termination, your right to access the Service ends immediately. Sections of these Terms that by their nature should survive termination (including IP ownership, indemnities, liability, governing law, dispute resolution) will survive.

11. Warranties and disclaimers

Kapiital provides the Service on an “as is” and “as available” basis. To the maximum extent permitted by law, Kapiital disclaims all warranties, whether express, implied, statutory, or otherwise, including warranties of merchantability, fitness for a particular purpose, non-infringement, and quiet enjoyment, except those that cannot be excluded under Indian law (including under the Consumer Protection Act 2019 where applicable).

Kapiital does not warrant that the Service will be uninterrupted, error-free, or that defects will be corrected, except as specified in a Customer Contract’s service-level commitments.

12. Limitation of liability

To the maximum extent permitted by law:

1. Neither party will be liable for any indirect, incidental, special, consequential, exemplary, or punitive damages, including loss of profits, loss of revenue, loss of business opportunity, loss of goodwill, or loss of data, whether in contract, tort, statute, or otherwise.
2. Kapiital’s aggregate liability arising out of or in connection with these Terms or the use of the Service is limited to (a) for customers under a Customer Contract — the cap stated in that Customer Contract, or in its absence, the fees paid by the customer to Kapiital in the 12 months immediately preceding the event giving rise to the claim, and (b) for users without a Customer Contract — INR 10,000.
3. Nothing in these Terms limits liability that cannot be limited under applicable Indian law, including liability for fraud, fraudulent misrepresentation, gross negligence, or wilful misconduct.

13. Indemnity

You will indemnify and hold Kapiital, its officers, employees, and authorised agents harmless from and against any third-party claim arising out of (a) your breach of these Terms, (b) your violation of applicable law in your use of the Service, or (c) your infringement of any third party’s rights. We will give you prompt notice of any such claim and reasonable cooperation in defending it.

14. Confidentiality

Information disclosed by either party that is marked confidential or that a reasonable person would understand to be confidential (“Confidential Information”) must be kept confidential and used only for purposes of these Terms or the Customer Contract. Confidential Information may be disclosed only to personnel and advisers under equivalent confidentiality obligations, or where required by law (with notice to the disclosing party where lawful).

15. Changes to the Service and to these Terms

We may improve, change, or discontinue parts of the Service over time. We will give reasonable notice of any change that materially reduces the Service’s functionality where you are a paying customer.

We may update these Terms from time to time. If a change is material, we will give notice at least 30 days before it takes effect — by email to active users, by a banner on the website, and by an in-app notice in the SquareNow Android app. Continued use of the Service after the change takes effect is acceptance of the updated Terms.

16. Force majeure

Neither party is liable for any failure or delay caused by events beyond its reasonable control, including acts of God, natural disasters, pandemics, war, terrorism, civil unrest, government action, internet or telecommunications failures, or failures of upstream cloud or payment infrastructure, provided the affected party gives prompt notice and uses commercially reasonable efforts to mitigate.

17. Governing law and dispute resolution

These Terms are governed by the laws of India, without regard to conflict-of-law principles.

Any dispute, controversy, or claim arising out of or relating to these Terms will be resolved by arbitration under the Arbitration and Conciliation Act, 1996, by a sole arbitrator appointed by Kapiital with the consent of the other party (or, failing consent, by the procedure under the Act). The seat and venue of arbitration is [CONFIRM: city, e.g. Bengaluru]. The language of arbitration is English. The award is final and binding.

Subject to arbitration, the courts at [CONFIRM: city] have exclusive jurisdiction over any matter that is not subject to arbitration (including interim relief).

18. Notices

Notices to Kapiital must be sent to [CONFIRM: legal@kapiital.com] and to the registered office address. Notices to you may be sent to the email address on your account or by in-product notification.

19. General

• Assignment. You may not assign these Terms without our prior written consent. We may assign these Terms to an affiliate or successor in connection with a merger, acquisition, or sale of assets.
• Severability. If any provision of these Terms is held invalid or unenforceable, the remaining provisions remain in full effect.
• Waiver. A failure to enforce a right is not a waiver of that right.
• Entire agreement. Together with the Privacy Policy and any applicable Customer Contract, these Terms are the entire agreement between you and Kapiital regarding the Service.
• Language. These Terms are in English. Translations are provided for convenience and the English version controls.

20. Contact

Kapiital Systems Private Limited [CONFIRM: registered office address] CIN: [CONFIRM] Email (legal): [CONFIRM: legal@kapiital.com] Email (privacy): [CONFIRM: privacy@kapiital.com] Email (security): [CONFIRM: security@kapiital.com]

Have a question about these Terms? Email [CONFIRM: legal@kapiital.com].