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PYYPL CUSTOMER TERMS OF USE

Version 3.0

10 September 2020

 

CUSTOMER TERMS

Please read these Terms carefully.

1. General

These terms are the legal terms (the contract) between you and us for the use of Pyypl payment services. There can be additional terms to agree if you request any special services.

2. Your Pyypl Account

Your Pyypl account is a mobile money account used to make and receive electronic payments. We are a digital financial services provider. Your Pyypl account is not a bank account. We store your money loaded in the App and make electronic payments authorised by you using the balance on your Pyypl Account.

The mobile money on your Pyypl Account is always handled by Pyypl strictly in accordance with any applicable mobile card payment law(s) which ensure the safety and availability of balance stored in Your Pyypl Account.

You can withdraw balance from your Pyypl Account at any time. There is minimum withdrawal amount of AED1. The balance on your Pyypl Account must always be enough to cover any transaction including the fees. The mobile money on a Pyypl Account is yours. Nobody else has any rights to the balance you have in your Pyypl Account(s).

3. Opening Your Pyypl Account

You will need to confirm your identity at the time of opening your Pyypl Account.

You may be required to provide confirmation of your age and provide of consent of a parent or legal guardian, if you are under legally permitted age, as may be required by law.

You must tell us if you are aware of any legal restrictions that may prohibit you opening or using a Pyypl Account.

All information you provide during the sign-up process, and at all times afterwards, must be correct, up to date and truthful.

4. Closing Your Pyypl Account

You can close your Pyypl Account at any time by notifying us. App

We recommend that you use up your remaining balance before you close your account. Account monies do not earn any interest in your Pyypl Account

We will notify you within 6 months from closing the account if you have unused balance in your account. Balance greater than AED1 can be withdrawn in full from the account within the notification period, after that the balance cannot be used anymore.

We will not return any fees for transactions done prior to closing your Pyypl Account.

5. Using Your Pyypl Account

The law requires us to check the validity and adequacy of your identification information regularly. We will ask you to check and update your identification records periodically.

If we are unable to comply the customer identification requirements required by law then we may have to terminate your account to you and will notify you.

All transactions are recorded and displayed in your online balance together with the fees charged. You must regularly check your Pyypl Account balance and usage history and personal profile. You need to report any transaction or profile errors or other account problems immediately to Pyypl customer care via your Pyypl App immediately.

6. Loading Balance into Your Pyypl Account

You can load money into your Pyypl Account by instructions provided on our App. and Website.

You have different balance loading choices, depending on your country. Balance loading is mostly provided by our partners (and are not our products or part of our services). We do not guarantee the use of any particular loading method used, and we may alter the availability of any particular loading methods at any time.

You may be asked to answer security questions or to complete other activities that we, or our loading partners require for proper authorisation of any loading transaction.

Money will be credited to your Pyypl Account after the money has been received by us. We will not be responsible for any money loaded until the money is received by us.

Some transactions, such as credit or debit card or direct banking, will be credited to your Pyypl Account immediately but are subject to reversal in case the money do not reach us within a reasonable time in which case we will remove such reversed transaction from the balance of your Pyypl Account. If your Pyypl Account balance is insufficient, we reserve the right to require repayment from you.

Depending upon the country, maximum account balance may be limited due to security and legal requirements. Loading is subject to fees and currency conversion fees upon which fund loading or payment method is chosen.

7. Making Payments Using your Payment Card and Pyypl Account

Goods or service(s) paid for using your Payment Card and Pyypl Account is a matter between you and the relevant Merchant. We are not an agent or representative of any Pyypl Account user or Merchant. Any claims you may have relating to your payments that are not directly related to the payment process must be directed to the relevant Merchant.

If you have not immediately notified us of any fraudulent use of your Account you cannot dispute any transactions that you have made to your Pyypl Account that has been correctly recorded to your account.

You agree not to revoke an order given through your Pyypl Account or Payment Card.

8. Chargebacks (Reverse Payments)

If any transaction is subject to chargeback (reverse payment) rights you will not exercise such chargeback right other than for unauthorised use of your Pyypl Payment Card which would entitle you to a refund of the amount.

You may not charge back amounts relating to disputes with Merchants for example for non-delivery of goods or services, which we have no control over. As this is a matter between you and the relevant Merchant, we will not accept any claim for chargeback We reserve the right to charge you our fees and expenses we incur in connection with such chargeback and any action undertaken to challenge any transaction.

If a chargeback or reversal of a funding transaction results in a negative balance in your Pyypl Account, you must repay such negative balance by sufficiently funding your Pyypl Account. Failure to do so is a breach of these Terms of Use. Repayment of the negative balance is due immediately without notice.
If any transaction is subject to chargeback (reverse payment) rights you will not exercise such chargeback right other than for unauthorised use of your Pyypl Payment Card which would entitle you to a refund of the amount.

You may not charge back amounts relating to disputes with Merchants for example for non-delivery of goods or services, which we have no control over. As this is a matter between you and the relevant Merchant, we will not accept any claim for chargeback We reserve the right to charge you our fees and expenses we incur in connection with such chargeback and any action undertaken to challenge any transaction.

If a chargeback or reversal of a funding transaction results in a negative balance in your Pyypl Account, you must repay such negative balance by sufficiently funding your Pyypl Account. Failure to do so is a breach of these Terms of Use. Repayment of the negative balance is due immediately without notice.

9. Withdrawing Money

You can withdraw all or part of the balance in your Pyypl Account at any time. If the withdrawl payment involves a bank or payment service provider we will not be responsible for the withdrawal payment once the money has left your account.

Where a Pyypl Payment Card is associated with a Pyypl Account, withdrawals may be made through a particular ATM or e-Kiosk.

Withdrawals may be subject to withdrawal fees and currency conversion fees, depending on the country of use and the withdrawal method chosen.

We will inform you of any withdrawal or spending limits set by law. We may impose limits that are lower than your legal limits which will inform you about.

10. Receiving money

We will notify you when you receive money into your Pyypl Account, and it will be added to the balance. You should regularly check received money with your own records.

The receipt of receiving money may be subject to fees and/or currency fees.

11. Money Transfer

To send money you will be required to authorise the payment with your security information. We can ask you additional security questions relating to you or your Pyypl Account.

People receiving payments from your Pyypl Account may also have to provide personal ID information to be associated with your Pyypl Account.

Depending upon the country, the recipient of a payment may also be subject to separate monetary receipt and disclosure limits. This may affect the recipient’s access to the money you intend to send.

Sending money is subject to fees and currency conversion fees.

12. Keeping Your Pyypl Account and Payment Card Safe

Upon establishing your Pyypl Account, we will provide you with default user identification information. Once your account is active, you will be provided guidance on how to change your own secure account identifiers (user name and passwords) which will be known only to you.

You may also be offered a physical Pyypl Payment Card that will allow you to access your mobile money at our participating cash dispensing machines, or ATMs. We will provide your PIN with the Payment Card. We will not reveal your PIN to anyone else. All Payment Cards remains our property and you must return it immediately upon our request.

It is your responsibility to ensure the security and safe keeping of your personal security information at all times and to never disclose it to anyone. We will never ask you to provide your security information to us or to a third party. Any message you receive or website you visit that asks for your security information should be reported to us.

It is advisable to change your security information regularly (at least every six (6) months) to reduce the risk of a security breach of your Pyypl Account.

You must contact Pyypl immediately on becoming aware of any loss, misappropriation or unauthorised use of your Payment Card or security information, Pyypl Account, login details, password or other security features. Any undue delay in notifying us may result in you being liable for any losses as a result.

If you suspect that your Pyypl Account or your Payment Card was accessed by someone else, you should also contact the police and report the incident.

We may suspend your Pyypl Account or Payment Card or otherwise restrict their use if we reasonably suspect that an unauthorised or fraudulent use has occurred or that any of your security features have been compromised. We will immediately notify you of any suspension or restriction imposed, unless notifying you may compromise our reasonable security interests. We will lift the suspension and/or the restriction as soon as practicable after the reasons causing suspension and/or restriction have ceased to exist.

Additional products or services you use may have additional security requirements.

13. Prohibited Transactions

It is strictly forbidden to use your Pyypl Payment Card or Pyypl Account to commit fraud or any form of trickery. Fraud or trickery includes knowingly depriving Pyypl of the usual revenues it receives for providing the services by manipulating or “gaming” bonus or other reward schemes or prizes etc. to secure a personal financial benefit wrongly or unjustly. Any use of our services for illegal purposes is also strictly prohibited, including money laundering, payments supporting or associated with terrorisism or other criminal activities and making or receiving payments as consideration for the sale or supply of illegal or prohibited goods or services. Depending upon country, illegal or prohibited goods or services may include:

a. pornography, material which incites violence, hatred, racism or which is considered obscene, immoral or repugnant to cultural norms.
b. counterfeit products or goods or services that infringe the intellectual property rights of a third party.
c. unlicensed or illegal lotteries or gambling services (including without limitation the use, support of, or participation in, illegal gambling venues or web portals).
d. unregistered charity services.
e. items which encourage or facilitate illegal activities.
f. multi-level marketing, pyramid selling or ponzi schemes, matrix programmes or other “get rich quick” schemes or high yield investment programme.
g. military type arms, explosives, or equipment.
h. support of terrorism.
We will endeavour to remind you of the specific categories of prohibited transactions on our website which will form part of these Customer Terms.

Regardless of any notification from us, it is your responsibility to know what transactions and activities may be prohibited or determined illegal in the countries in which you transact.

We may suspend or terminate your Pyypl Payment Card and/or Pyypl Account at any time, or refuse to execute or reverse a transaction, if:
a. we believe that you directly or indirectly use or have used your Pyypl Payment Card or Pyypl Account in breach of this term;
b. your usage causes unusual and harmful interference with the normal operation of our systems; or
c. we are directed to do so by any law enforcement authority or official.
We may place on hold any money we reasonably suspect may be from or intended for use for some unlawful and prohibited transaction.

We must, and will, report any suspicious or seemingly unlawful activity to the relevant law enforcement agency.

You may only transact for certain categories of goods or services in a manner consistent with our Acceptable Use Policy on the Website as amended from time to time.

If you conduct or attempt to conduct any transaction in breach of this section, we reserve the right to:

a. reverse the transaction;
b. close or suspend your Pyypl Account;
c. report the transaction to the relevant law enforcement agency; and/or
d. claim compensation from you.

14. Fees

Transaction fees can be displayed on our App. These fees are subject to chance without prior notice.

Your transactions may be subject to currency conversions. If you make a payment from your Pyypl Account denominated in one currency to another Pyypl Account denominated in another currency, you will be asked to either make the payment in the currency of your Pyypl Account or in another currency. If you choose the currency of your Pyypl Account, then the recipient will pay the fee for the conversion into the currency of his or her Pyypl Account. If you choose the currency of the recipient’s Pyypl Account, you will pay the fee for the currency conversion into the currency of the payment. If you choose a currency that is neither the currency of your Pyypl Account nor the currency of the recipient’s Pyypl Account then you will pay the fee for the conversion into the currency of the payment, and the recipient will pay the fee for the conversion of the payment currency into the currency of his or her Pyypl Account.

For every currency conversion, we will apply our then current exchange rates which are applied by our processors. Changes in these exchange rates may be applied immediately and without notice. In addition, we will apply a foreign exchange fee, which is expressed as a percentage applicable in addition to the transaction fee.

Our Fees are either expressed as a percentage of the transaction or as a fixed amount in your Pyypl Account currency. Where fixed fee amounts are displayed in a currency other than EUR, this is for information purposes only.

Fees payable by you will be deducted from your Pyypl Account balance. Any transaction fees will be charged when the transaction is executed. If your Pyypl Account balance is insufficient to cover the fees, we may refuse to execute the payment. Reversal or chargeback fees will be deducted when incurred.

If the deduction of fees results in a negative Pyypl Account balance, you will be required to repay such negative balance by sufficiently funding your Pyypl Account. Repayment of the negative balance is due immediately without notice. However, we may at any time to send you reminders that you need to top up money. If necessary, we reserve the right to take other debt collection measures that we consider appropriate. We reserve the right to charge you expenses we have reasonably incurred in connection with any debt collection or enforcement efforts.

15. Protecting Your Data and Privacy

Pyypl complies with all official data protection and privacy laws, offering the protection you expect. Our Privacy Policy is set out below, and separately on our Website.

You will receive e-mails from us informing you about new product features, events, promotions, special deals etc. automatically upon activating your account. If you do not wish to receive our promotional e-mails you can change the settings in your Pyypl Account profile.

Other countries may implement their own global tax and other financial regulations which require us to report to their relevant authorities, nationals who retain Pyypl Accounts with us (regardless of where your account is established) and, when also obligated, to disclose certain prescribed information relating to your Pyypl Account. We will notify you in the event this is relevant to you.

16. Our Privacy Policy

Your personal information is always treated as confidential. We will only disclose it as mandated by the laws concerning your privacy rights. If you register on the Pyypl website or App we will use your personal information only for internal purposes to improve this website and App and our services to you. You can request deletion of your details or raise any queries at any time via Pyypl App.

Use of your personal information by Pyypl includes email mailings, customer support, notification of new services and general correspondence regarding your Pyypl Account and services.

Websites provided and maintained by third parties are not subject to Pyypl’s privacy policy or practices. Please review the privacy policies on other websites to understand their personal information handling practices. Pyypl makes no representations concerning the privacy policies of these third-party websites.

17. De-activation and suspension

You can (close) your Pyypl Account with us at any time (see Section 4 Closing Your Pyypl Account)

Following a continuous period of 12 months of no usage activity on your account we will de-active your Pyypl Account and any services part of it. We will give you notice before deactivation so that you have time to use the balance in your account. We advise you to use all the money in the account to avoid losing the remaining balance. See closing the account terms.

We can at any time suspend or terminate your Pyypl Account without notice in case:

a. you breach any condition of these Terms of Use or any other condition applicable to specific services covered by separate terms;
b. you refuse to accept any amendments to these Terms of Use as notified to you in advance
c. you violate, or we have reason to believe that you are in violation of any law or regulation that is applicable to your use of our services; or
d. we have reason to believe that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.
We can suspend your Pyypl Account immediately if:

a. we reasonably believe that your Pyypl Account has been compromised or for other security reasons; or
b. we reasonably suspect your Pyypl Account to have been used or is being used without your authorisation or fraudulently. We will notify you of the suspension unless we are prohibited by law or by official direction from notifying you.

18. Force Majeure

We have no liability to you if we are prevented from performing our obligations by any Force Majeure events or default of suppliers or sub-contractors, provided that you are notified of such an event.

If any Force Majeure occurs and its effect lasts for a continual period of 10 days, we will have the right to give you a notice of termination without liability to us. This does not affect your right to any money on your Pyypl Account.

19. Liability

In event of an unauthorised payment or a payment that was incorrectly executed due to an error by us, we will at your request immediately refund the payment amount including all fees deducted. This will not apply:

a. where the unauthorised payment arises from your failure to keep Pyypl Account or Payment Card secure and safe in accordance with these terms;
b. if you fail to notify us without undue delay of any loss of your security information or Payment Card or other event that could have compromised the security of your Pyypl Account or Payment Card, immediately after you have gained knowledge of such event; or
c. where you fail to dispute and bring any unauthorised or incorrectly executed transaction(s) as recorded in your Pyypl Account to our attention within 6 months from the date of the transaction.
You must review the payments history of your Pyypl Account regularly and frequently and contact us immediately in case you have any questions or concerns about any transaction or account usage.

In case of any incorrect or misdirected payment, we will take reasonable measures to assist you with tracing and recovering such payments.

We will not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We will not be liable for any losses arising from our compliance with legal and regulatory requirements.

Our obligation under these Terms of Use is limited to providing you with an electronic money account and related payment services, except for liability that cannot be excluded by operation of the law.

We make no representations as to the quality, safety or fitness of any products or services provided.

We will not be liable for the assessment or payment of any taxes, duties or other charges that arise from the underlying commercial transaction between you and another person.

You agree to defend, reimburse or compensate us and hold us and our other companies in our corporate group harmless from any claim, demand, expenses or costs (including legal fees, fines or penalties) that we incur or suffer due to or arising out of your (or your agents’) breach of these Terms of Use, breach of any applicable law or regulation and/or use of the services. This provision will survive termination of your Pyypl Account.

20. Changes to these Terms of Use

These Terms of Use (and any related additional terms that may apply) are subject to change.

We will notify you of any proposed change via SMS, the App or e-mail address recorded with your Pyypl Account, as follows:
a. changes that make these Terms of Use more favourable to you will come into effect immediately if so stated in the change notice. (quite hard to understand sentence)
b. changes to exchange rates will come into effect immediately without notice.
If you refuse to accept the changes, they will not apply to you, however, refusal will constitute a notice by you to terminate and to close your Pyypl Account as described elsewhere in these terms.

A copy of the most current Terms of Use is always accessible on our App and Website.

21. Communication

We usually communicate to you via sms, whatsapp or our App. For this you must at all times have up to date mobile number in your Pyyp App. profile. You should check for incoming messages regularly.

We advice you to keep copies of all communications we send or make available to you.If you are unsure whether a communication is originating from us, please contact us.

We will communicate to you in English and will always accept communications made to us in English or your preferred language chosen with the language options in your Pyypl App.

You can contact us at any time via your Pyypl App or WhatsApp if you need further assistance.

22. Complaints

If you have any complaints, please contact us asap. Please send the complaint via our website or the App. We will acknowledge your complaint via Pyypl App or SMS automatically. We will always try to answer your complaint as quickly as possible. If there is some delay due to unforeseen circumstances or lack of clarity or sufficient information, we will contact you.

23. Cookies

Cookies are bits of electronic information used to allow us to recognise your device so that we can provide our service to you, for example, to identify the language you have selected and the relevant service that you use. Our cookies are stored on your device and ‎allows your preferences to be remembered each time you return to the website of your product of choice. You may choose to ‎disable the cookies, however if you do so it may impact the speed of our services.

24. Governing Law

All rights and obligations hereunder will be shall be governed by and construed and given effect to in accordance with the applicable laws in force in the United Arab Emirates, the Emirate of Dubai or Abu Dhabi, Abu Dhabi Global Market, Dubai International Financial Centre, Dubai Multi Commodities Centre Authority, Dubai Creative Clusters Authority, or another UAE emirate or free zone (depending on the registered offices of the Company and the work location of the Employee).

25. Dispute Resolution

If a dispute arises in relation to any matter under this Agreement relating to its validity, construction or performance, the parties will meet and negotiate in good faith to resolve the issues before commencing any action or proceeding in any court or other tribunal.

Any dispute that is not resolved in accordance the preceding clause within 10 business days shall be referred to arbitration and finally settled under the rules of the Dubai International Financial Centre London Court of International Arbitration (DIFC-LCIA) from time to time in force (the “Rules”) which Rules are deemed to be incorporated by reference into this Clause. The number of arbitrators shall be one who shall be selected in accordance with the Rules. The seat or legal place of arbitration shall be the Dubai International Financial Centre. The language of the arbitration shall be English. The arbitral award shall be binding upon the parties and the parties hereby waive their respective right to claim the revision of the arbitral award, except as otherwise permitted under the Rules.

26. Miscellaneous

No person other than you has any rights under these Terms of Use. Your Pyypl Account is personal to you and you may not assign any rights under the Terms of Use to anyone else.

Your Pyypl Account is created in UAE and these Terms of Use will be governed by the laws of the UAE. Any dispute under these Terms of Use or otherwise in connection with your Pyypl Account will be brought exclusively in the Courts of the ADGM, Abu Dhabi.

27. Definitions

Various capitalised terms in these Terms of Use mean:

“ADGM” means Abu Dhabi Global Markets authority, Abu Dhabi, United Arab Emirates.

“App” means a digital Pyypl mobile phone application that acts an mobile money tool for loading and holding your money and facilitating electronic payments from your Pyypl Account.

“Fees” means the charges payable by you to us for using our services;

“Force Majeure” means acts, events, omissions or accidents beyond our reasonable control including, without limitation, strikes labour or industrial disputes, failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, fire, flood and storm.

“Merchant” means an establishment that is authorised to accept or allow the Pyypl Payment Card as a means of payment in exchange for the purchase of goods and services by you, whether such purchase takes place in a face to face environment or in an on-line environment.

“Mobile Number” means the mobile number you provide to us.

“PIN” means your Personal Identification Number.

“Privacy Policy” is the policy of Pyypl published on the Pyypl website governing the processing of personal data as may be amended from time to time.

“Pyypl” means Pyypl Group Limited, Abu Dhabi Global Market, Reg. No. 1116 Financial Services Regulatory Authority, Al Maqam Tower, 34th Floor, PO Box 35665, Abu Dhabi, UAE

“Pyypl Account” means the electronic money account you open and maintain with Pyypl through the App

“Pyypl Payment Card” means a physical payment card.

“Terms of Use” will mean these Pyypl Account Terms of Use, published on our Website, as may be amended from time.

“We”, “us”, “our” means Pyypl.

“Website” means the Pyypl public customer web portal available at Pyypl.com.

“You”, “your” means you, the natural person in whose name the Pyypl Account is opened and maintained.