Terms for Cards issued by Transcorp
Terms for Cards issued by Transcorp - Hindi


Terms & Conditions


Pencilton, an initiative of Onaru Ventures Private Limited (“Onaru“), is proprietary computer software. Pencilton includes this application, and all software, tools, technology, documentation, components, and internet-based services, including access to its website, in connection with delivery of its mobile payment and related services. Onaru reserves the right, in its sole and absolute discretion, to upgrade, add, delete, or modify features of PENCILTON at any time and from time to time, without notice. The reference to “Pencilton”, “we”, “our”, “us” refers to Onaru Ventures Private Limited, a private limited company incorporated under the provisions of the Indian Companies Act, 1956.


This service (“Service”) is a system that enables

  1. parents to empower, facilitate and monitor their child’s (“Youth”) spending transactions while helping them understand the basics of money management through gamified interaction with positive and negative reinforcements; and,


  1. youths to facilitate and control their own spending transactions, while storing money with Pencilton towards their goals and allows them to make authorized purchases funded by an authorized credit card or other payment method.


By using this Service, you acknowledge and accept the Service’s privacy policy, as set forth in [www.pencilton.com], (“Privacy Policy”) and consent to the collection and use of your data in accordance with the Privacy Policy. By interacting with and/or using the Service, you signify your assent and agreement to these terms (“Terms”). If you do not agree to these terms, you must not use the Service.

It’s important that you read the entire Terms that follow.

The access and use of the website www.pencilton.com and the Pencilton application (“App”) are subject to these Terms. If you do not agree to abide by these Terms and conditions, please do not review, refer or download materials from this website/App.

Pencilton reserves right to modify these Terms at any point of time without notice to you by posting revised Terms on its web-sites/App. Your use of its web-sites/app constitutes your binding acceptance of these Terms, including any modifications that Pencilton makes. The payment gateway page request for user to accept terms for each payment transaction signifies this consent explicitly.

You agree that Pencilton will not be responsible or liable for any loss or damage of any sort incurred as the result of any of your transactions with third parties. Any questions, complaints, or claims related to any third party product or service should be directed to the appropriate vendor.


This User Agreement (“Agreement“) is contract between YOU (“You” OR “User“) AND Onaru Ventures Private Limited This Agreement governs your use of Onaru’s Mobile Payment and Digital Application and all related Services.

As a User of Pencilton, you must:

(1) be at least -18- years old and a citizen of India; and

(2) communicate your acceptance of this agreement by clicking on the “REGISTER” button. Your continued use of Pencilton also communicates your acceptance of this agreement, as it may be modified from time to time by Pencilton.


  1. A minor under a guardianship of a person who has capacity to contract may hold and use Pencilton Card under such guardianship.


  1. A minor having age of more than 10 years may hold Pencilton subject to reasonable restriction imposed by Pencilton and subject to any direction of any regulatory Authority for the time being in force.


  1. The Guardian who loads the card of the minor shall be responsible for all the actions of the minor. The guardian undertakes to indemnify and keep indemnified Onaru Ventures Pvt. Ltd. from any usage of the minor’s card. The Guardian further undertakes to maintain complete supervision at all time on the activities of the minor and agrees to be fully compliant of all the rules and regulations being in force from time to time.

  1. A minor who has a valid PAN Card in their own name can also be eligible to register and hold their own Pencilton Card.

Pencilton reserves the right to modify this Agreement, the Privacy Policy, and any other applicable agreements or policies relating to Pencilton at any time in its sole and absolute discretion by posting the modifications on the Site. Pencilton will communicate with its registered users via SMS, and the user agrees to receive SMS communication sent by Pencilton on their mobile device. Your use of Pencilton after the posting of any modification on the Site constitutes your acceptance of the modification. It is your responsibility to visit the Site on a regular basis to obtain the latest updates of this Agreement, including the Privacy Policy.

  1. Licenses and Right to Use

Onaru hereby grants you a personal, revocable, non-exclusive, non-transferable, limited license (“License“) to use Pencilton (which includes the App) for personal use on a computer, tablet or mobile device in accordance with and subject to all the terms and conditions contained in this Agreement. Onaru reserves all rights not expressly granted to you in this Agreement. Your use of Pencilton is strictly limited to use of your computer or mobile device for the purpose of accessing your account to review the amount spent on purchase of goods and services with the Pencilton cards for which you activate access via Pencilton. Any other use of the License or Pencilton is strictly prohibited, and you may not sublicense or otherwise grant any third-party permission to use Pencilton on your behalf or on behalf of such third party or any other party. You shall not copy, publish, reproduce, alter, modify, adapt, create derivative works from, sell, license, distribute, share, publicly display, republish, upload, post, transmit, decompile, decipher, or reverse engineer Pencilton or any information or material that is a component of or otherwise associated with Pencilton, which information and material includes the intellectual property of Pencilton.

Pencilton and Pencilton logos, graphics, icons, and scripts used in connection with Pencilton on your computer or Mobile Device, Onaru’s and Pencilton’s website, or elsewhere are trademarks, or registered trademarks of Onaru Ventures Private Limited. Onaru reserves all present and future intellectual property rights throughout the world, and the License granted to you pursuant to this Agreement only permits you to use Pencilton in strict compliance with all the terms and conditions of this Agreement. Pencilton’s reserved intellectual property rights include, without limitation, the following: all patents, trademarks, service marks, trade secrets, and trade dress rights; all copyrights; all mask work rights, rights of publicity, and moral rights; and all associated goodwill.

  1. Personal Information

You must provide Pencilton with certain personally identifiable information (“Personal Information“), as may be requested by Pencilton from time to time, including at the time of opening a Pencilton account. Personal Information may include (but shall not be limited to) the following: your name and e-mail address; your date of birth; your mailing address; your Mobile number; your Credit Card details; your permanent account number (PAN). You hereby irrevocable and unconditionally grant consent to Pencilton to share receive, record, store, and process your the Personal Information described in the preceding sentence, as well as other information relating to your transaction that also may be Personal Information, including the date, amount, and location of the transaction, among various entities including Onaru, its vendors, card issuing bank, and payment aggregators, for the purpose of maintaining and improving the services that Pencilton provides. You must keep your Personal Information up to date, and intimate Pencilton forthwith of any change in Personal Information. Pencilton and its vendors may use Pencilton to offer you promotions, incentives, contests, rewards, credits, and coupons.

Onaru has expended considerable time, effort, and resources, and implemented technical and organizational measures, to maintain the security of your Personal Information. However, Onaru cannot and does not guarantee that your Personal Information is impervious to all breaches of security through interception, hacking, or other means. Operation of Pencilton, Onaru’s host servers, and communication and other links among Onaru, its vendors, card issuing bank, and payment aggregators may be interfered with by factors beyond Onaru’s or their control.

Onaru’s use of your Personal Information is subject to the Privacy Policy. Merchants and vendors may have their own privacy policies regarding your Personal Information and Onaru has no responsibility for and disclaims any liability in relation to those policies.

  1. User Representations and Warranties

When you open a Pencilton account, and each time that you use or access Pencilton, you represent and warrant to Pencilton that (1) you are at least 18 years old, (2) you are a citizen of India, (3) all Personal Information that you have provided to Pencilton is complete and accurate in all material respects.


  1. A minor under a guardianship of a person who has capacity to contract may hold and use Pencilton under such guardianship.


  1. A minor having age of more than 10 years may hold Pencilton subject to reasonable restriction imposed by Pencilton and subject to any direction of any regulatory Authority for the time being in force.


c) The Guardian who loads the card of the minor shall be responsible for all the actions of the minor. The guardian undertakes to indemnify and keep indemnified Onaru Ventures Pvt. Ltd. from any usage of the minor’s card. The Guardian further undertakes to maintain complete supervision at all time on the activities of the minor and agrees to be fully compliant of all the rules and regulations being in force from time to time.

We reserve the right to immediately terminate your account if we believe that your account is being used by any person who is not eligible, or for any other reason.

We rely completely on the accuracy of your representation that you are eligible and will bear no liability if you or anyone who uses your Pencilton account is found to be not eligible.

  1. User Responsibilities

You are responsible for all fees and charges imposed by your Internet and mobile device service providers and compliance with the terms and conditions of your agreements with them.

  1. Third Party Responsibilities

Pencilton contains links to third party website/s (through hyperlinks in the form of word link, banners, channels or otherwise), as a convenience to user(s) and Pencilton does not have any control over such websites i.e. content and services provided by them.

Pencilton may allow user(s) access to content, products or services offered by third parties through hyperlinks (in the form of word link, banners, channels or otherwise) to such Third Party’s web site. You are cautioned to read such sites’ terms and conditions and/or privacy policies before using such websites in order to be aware of the terms and conditions of your use of such sites. Pencilton does not endorse, approve, or sponsor any third-party services, or any third-party content, advertising, information, materials, products, services, or other items. Furthermore, Pencilton is not responsible for the quality or delivery of the products or services offered, accessed, obtained by or advertised at such websites. Pencilton is, under no circumstances liable for any direct, indirect, incidental or special loss or other damages or losses, whether arising from negligence, breach of contract, defamation, infringement of copyright or other intellectual property rights, caused by the exhibition, distribution or exploitation of any information or content contained within these third-party services. Any activities you engage in connection with any of the same are subject to the privacy and other policies, terms and conditions of use and/or sale, and rules issued by the operator of the third-party services. Pencilton disclaims all liability in connection therewith.

Third party dealings:-  Any interactions, correspondence, transactions, and other dealings that you have with any third parties found on or through the Service (including on or via Third-Party Services or advertisements) are solely between you and the third party (including issues related to the content of third-party advertisements, payments, delivery of goods, warranties (including product warranties), privacy and data security, and the like)  and Pencilton disclaims all liability in connection therewith.

Pencilton is not responsible for any of the products or services that you purchase or rewards or other incentives that you earn using Pencilton. Any complaints regarding products, services, and rewards and incentives programs must be directed to the relevant vendor or merchant establishment, and in the case of complaints regarding rewards, you may have recourse to the third party involved in providing or administering the rewards program.

  1. Acceptable Usage

Pencilton users are eligible to use the App to :-

  1. Register for Pencilton Card *

  2. Reload their Pencilton Card;

  3. Unload money from the Pencilton Card to store the money with Pencilton (‘Pool Account’) for the purpose of learning/teaching money management or to be loaded into another Pencilton Card#;

  4. Setup Learning Goals to Save towards their goals and reward or deduct money from Pencilton Card towards gamified learning;

  5. Review and monitor their Pencilton card transactions;

  6. Review and download statements of accounts, as per defined period parameters; and

  7. Transact or spend up to a maximum of Rs. 2000 in any given 12 hours duration.

  8. Load a maximum of Rs. 10,000 per month and Rs. 1,00,000 per year into their Pencilton card.


*For the detailed usage please refer to Terms & Conditions governing Pencilton Card.


#Money once loaded into Pencilton Card can only be unloaded to store with Pencilton’s Account (Pool Account) or be moved from there to another Pencilton Card, upon authorization. But under no circumstances can the Pencilton App be used to transfer the money to any Bank Account or any other related Accounts.


Pencilton Card is a co-branded Prepaid Card powered by Partner Bank along with Onaru Ventures Private Limited and is governed by the Payment and Settlement Systems Act, 2007 & Regulations made there under, Issuance and Operation of Pre-paid Payment Instruments in India (Reserve Bank) Directions, 2009, Master Circular on Issuance and Operations of Pre-paid Payment instruments in India and the Master Circular on Credit Card, Debit Card and Rupee Denominated Co-branded Prepaid Cards operations of banks and is also subject to directions / instructions issued by the Reserve Bank of India (RBI) from time to time in respect of redemption, repayment, usage etc. (“RBI Guidelines”).


You hereby agree to use Pencilton for all transactions with merchants for the products / services as mentioned by the merchant on its website and further agree not to use it for any unlawful purpose / activities. You will neither abate nor be a party to any illegal / criminal / money laundering / terrorist activities undertaken by using Pencilton.

If any of the activities or transactions described above occurs, Pencilton shall have the right, in its sole and absolute discretion and without prior notice, to suspend or terminate your License to use Pencilton, but Pencilton shall have no obligation to do so and Pencilton shall not be responsible for any failure or delay in doing so or taking any other action.

Nothing contained in this Agreement or the Privacy Policy supersedes or limits your obligations under any agreement you may have with a card issuing bank, including obligations regarding granting permission to third parties to use your credit, debit, or rewards card, and you shall comply at all times with those obligations. If you grant permission to another person to use Pencilton to access your stored credit, debit, or rewards card information in violation of these terms or your agreement with a card issuer, you do so at your own risk. The granting of such permission shall not relieve you of your responsibilities under these terms, and the person to whom you have granted permission also shall be bound by these terms. If Pencilton determines, at its sole discretion, that any use of Pencilton violates these terms or any applicable law or regulation, Pencilton may decline to process the payment or otherwise suspend your use of Pencilton without prior notice. In case Pencilton has any reason to suspect that You are using Pencilton for an illegal purpose, You acknowledge and agree that Pencilton may share information regarding You and your use of Pencilton with law enforcement authorities, and take any other legal actions as it deems fit.

You shall immediately notify Pencilton and the applicable card issuer of any inaccurate, unauthorized, or fraudulent transaction or any breach of security (such as use of your PIN). You are responsible for all transactions made in whole or in part via your Pencilton account. Pencilton shall not be responsible for any losses arising out of the loss or theft of Personal Information or from inaccurate, unauthorized, or fraudulent transactions. Your liability for inaccurate, unauthorized, or fraudulent transactions is governed by your agreement with the applicable Card Issuer. Your sole remedy against Pencilton with respect to any inaccurate, unauthorized, or fraudulent transaction is to terminate this Agreement and not make any further payments using Pencilton.

  1. Fees and Charges

  1. You agree to pay all fees and charges that may be notified from time to time.

  2. Pencilton may, upon notice if required by applicable laws, at any time change the amount of, or basis for determining, any fee or charge, or institute new fees or charges.

  3. All fees and charges are payable in accordance with payment terms in effect at the time the fee or the charge becomes payable.


  1. Disclaimer of Warranties

All the contents of this App are only for general information or use. No information on this App constitutes advice by Pencilton, and should not be relied upon in making (or refraining from making) any decisions. Replies to any queries in any part of the App by any person other than Onaru (Pencilton) are the personal opinion of such persons and are not subscribed to by this Site.

Onaru, its directors, employees, agents, representatives, affiliates and associates shall not be liable, at any time, for damages (including, without limitation, damages for loss of business projects, or loss of profits) arising in contract, tort or otherwise from the use of or inability to use the Site, or any of its contents, or from any act or omissions as a result of using the Site or its contents or for any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communications line failure, theft or destruction or unauthorized access to, alteration of, or use of information contained on the Site. No representations, warranties or guarantees whatsoever are made as to the accuracy, adequacy, reliability, completeness, suitability or applicability of the information to a particular situation.

Certain links on the Site lead to resources located on servers maintained by third parties over whom Pencilton has no control or connection, business or otherwise as these sites are external to Pencilton. Pencilton therefore neither endorses nor offers any judgement or warranty and accepts no responsibility or liability for the authenticity/availability of any of the goods/services/or for any damage, loss or harm, direct or consequential or any violation of local or international laws that may be incurred by your visit and/or transaction/s on these Sites.

  1. Limitation of Liability & Damages

In no event shall Onaru (or its directors,  offices, affiliates and Employees), be liable for any direct, indirect, punitive or exemplary damages including without limitations for loss of profit that results from use or  inability to use or unavailability of Pencilton.

The limitation of liability section applies whether the alleged liability is based on tort, contract, negligence or any other basis. The forgoing limitation of liability shall apply to the fullest extent permitted by law in the applicable jurisdiction.

Pencilton is controlled and operated from facilities in India. Pencilton makes no representations that Pencilton is appropriate or available for use in other locations. Any person who accesses or uses Pencilton from other jurisdictions does so at his or her own risk, and is entirely responsible for compliance with all applicable laws and regulations of India, including but not limited to foreign exchange regulations.

  1. Indemnification

You will indemnify, defend, and hold harmless Onaru (and its employees, directors, agents, affiliates and representatives) from and against any and all claims, costs, losses, damages, judgments, tax assessments, penalties, interest, and expenses (including without limitation reasonable attorneys’ fees) arising out of any claim, action, audit, investigation, inquiry, or other proceeding instituted by a person or entity that arises out of or relates to: (a) any actual or alleged breach of your representations, warranties, or obligations set forth in this Agreement, including without limitation any violation of the policies of Onaru; (b) your wrongful or improper use of Pencilton; (c) your violation of any third-party right, including without limitation any right of privacy, publicity rights or intellectual property rights; (d) your violation of any law, rule or regulation of the Republic of India; (e) any other party’s access and/or use of Pencilton with your unique username, password or other appropriate security code. 


  1. Termination / Suspension of Account

Pencilton reserves the right to modify, terminate, or suspend the Services offered by the App to You at any time, without prior notice, for any reason whatsoever, including due to any changes in internal policy or due to RBI Regulations or other applicable laws.

  1. Dispute Resolution

You and Pencilton may elect to resolve any controversy or claim arising out of or relating to these Terms or the App by binding arbitration in accordance with the provisions of the Indian Arbitration & Conciliation Act, 1996. Any such controversy or claim shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The arbitration shall be conducted in Hyderabad, India and judgment on the arbitration award may be entered in any court having jurisdiction thereof. The language of Arbitration shall be English.

  1. Governing Laws

These Terms and the Privacy Policy shall be governed in all respect by the laws of India. Any dispute in relation to Pencilton shall be subject to the exclusive jurisdiction of the Courts of Hyderabad, Telangana, India.

  1. Customer Support

If you need to communicate with Pencilton for any reason, such as for technical support, to resolve a Dispute, to close your Pencilton account, or to opt-out of the sharing of Personal Information regarding which you have the right to opt-out, contact Pencilton’s Customer Support Department by e-mail at support@pencilton.com or by telephone at 9392095398 .

  1. Miscellaneous

Except as expressly provided in these terms, these terms are a complete statement of the agreement between You and Pencilton, and they describe the entire liability of Pencilton and its vendors and suppliers (including processors) and your exclusive remedy with respect to your access and use of Pencilton. If any provision of these terms is invalid or unenforceable under applicable law, then it shall be changed and interpreted to accomplish the objectives of such provision to the greatest extent possible under applicable law, and the remaining provisions will continue in full force and effect. These terms does not limit any rights that Pencilton may have under trade secret, copyright, patent, or other laws. Pencilton’s failure to assert any right or provision under these terms shall not constitute a waiver of such right or provision. No waiver of any of these terms shall be deemed a further or continuing waiver of such term or any other term.

For Cards issued by Transcorp
For Cards issued by Transcorp - Hindi
For Cards issued issued by RBL