Fun ? fact sharks can also get iodine deficiency goiters . I used to work at an aquarium store and someone once brought us a cat shark with a baseball sized goiter from an iodinedeficient diet . <| sep |> This is what I told you earlier . The companies can write whatever they want on their terms and conditions , but those words remain mere words , if the law bars its application . The payments sector is highly regulated by the RBI , if there is any lapse or hack whatsoever by these wallet companies , there is no way in hell that the RBI will let them go scot free . One requires a license to set up a mobile wallet , and the license is only issued to those parties who show that they have the capability to implement fraud prevention systems . The RBI doesn ' t issue a license to just any wannabe entrepreneur who wants to make the next big wallet . Look at this list on the RBI ' s website . Paytm is listed at 44 . 12043 If any of these people mess around with you and refuse to refund you money , the RBI would be appropriate forum to go and complain . PS I suggest you educate your shopkeeper friend about UPI instead of mobile wallets . He will save money on the commission also . ICICI has recently launched a UPI app for merchants . You can perhaps explore that .