SkyPay — Secure payments for everyone

Section 1 of 71. Program Overview

1. Program Overview

SkyPay's Rewards Program allows you to earn cashback, reward points, and other benefits on eligible transactions. All verified users with completed KYC can participate.

2. Types of Rewards

We offer several reward types:

2.1 Cashback

Transaction Cashback: Percentage back on eligible transactions
Instant Cashback: Credited within 24 hours of transaction
Promotional Cashback: Special offers on select merchants
Milestone Cashback: Bonus for achieving transaction thresholds

2.2 Reward Points

Earn points on every eligible transaction
Point value: 1 point = ₹0.25 (subject to change)
Points can be redeemed for cashback or vouchers
Minimum redemption: 100 points (₹25)

2.3 Referral Bonuses

Earn ₹50 for each friend who signs up and transacts
Referee also receives ₹50 on their first transaction
Maximum 50 referrals per user per month

3. Earning Rewards

Rewards are earned on eligible transactions. The following are NOT eligible:

Failed or canceled transactions
Refunded transactions
Internal account transfers
Transactions flagged as fraudulent

4. Redemption

Redeem your rewards through the following options:

Bank Transfer: Direct transfer to linked bank account
Wallet Credit: Add to platform wallet for future transactions
Vouchers: Redeem for gift cards from partner brands
Direct Payment: Use rewards to pay bills or make purchases

4.1 Redemption Limits

Minimum ₹50 for cashback redemption
Minimum 100 points for reward point redemption
Redemption requests processed within 3-5 business days

5. Validity & Expiration

Rewards have the following validity periods:

Cashback: Valid for 1 year from credit date
Reward Points: Valid for 6 months from earning date
Referral Bonuses: Valid for 90 days from credit

Email reminders are sent 30 days before expiration. Expired rewards cannot be reinstated.

6. Referral Program

Share your unique referral code with friends and family to earn bonuses.

6.1 How It Works

Share your unique referral code from the app
New user signs up using your code and completes KYC
Referee makes their first transaction of minimum ₹100
Both you and referee receive referral bonus

6.2 Referral Restrictions

Self-referrals are strictly prohibited
Fake or duplicate accounts will result in forfeiture
Referee must be a new user who has never registered before
Spam or mass referral campaigns are not allowed

7. Tax Implications

Rewards may be subject to applicable taxes:

TDS will be deducted if annual rewards exceed ₹10,000
You are responsible for declaring rewards in your income tax returns
TDS certificates (Form 16A) provided quarterly if applicable
PAN must be linked for TDS compliance

UPI Services

Account Switching

Last updated: 26 February 2026 · legal@skypay.in

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