neobank Services Terms & Conditions
Purpose of Terms and Conditions
These neobank SERVICES AND CONDITIONS (“Terms and Conditions”) govern the access and use of the neobank services provided by the Company to the User. It is important that the User reads and understands these Terms and Conditions together with any other notice or policy that the Company may provide on specific occasions so that the User is fully aware of its rights and obligations when accessing and using the Services. These Terms and Conditions supplements other notices and policies and is not intended to override them.
Acceptance of Terms and Conditions
By becoming a User, the User is deemed to have accepted and agreed to be bound by these Terms and Conditions. The Company reserves its right to update or amend these Terms and Conditions at any time without notice to the User. By continuing using the Services, the User will be deemed to have accepted the updated or amended Terms and Conditions.
It Is Hereby Agreed as Below:
1. Definition and Interpretation
In these Terms and Conditions, unless the context otherwise requires, the following words and expressions shall have the following meanings:
“Company” means Let’s Pay N Earn Sdn Bhd.
“KYC” means the process of validating the identity of a User by verifying the personal details of the User and other information or details provided by the User to the Company.
“Participating Merchant” means the participating merchant(s) of the Program.
“Points” means the points awarded to the User for every successful Transaction.
“Program” means the Rewards program operated by the Company.
“Recipient” means the persons whom the User identified as the intended recipient of the payment in advance to be made by the Company in the Customized Digital Voucher.
“Rewards” means the products, services, rewards, gifts or other benefits made available by the Participating Merchant which can be redeemed by the User using the Points under a rewards program established by the Company.
“Services” means the neobank services provided by the Company which entail the Company’s issuance of the “We Pay For You First” digital voucher to the User for customization, and the Transaction performed by the Company upon authorization by the User pursuant to the Customized Digital Voucher.
“Service Fees” means the fees and charges imposed by the Company on the User in consideration of the provision of the Services.
“Site” means the website developed by and/or owned by the Company.
“Transaction” means any transaction performed by the Company as authorized by the User pursuant to the Customized Digital Voucher.
“User” means the registered user of the Services as approved by the Company from time to time.
In these Terms and Conditions, unless the context otherwise requires:
(a) recitals and headings are used for convenience only and do not affect the interpretation of these Terms and Conditions;
(b) words importing the singular include the plural and vice versa;
(c) words importing a gender include any gender;
(d) an expression importing a natural person includes any corporation or other body corporate, partnership, association, Public Authority, two or more persons having a joint or common interest, or any other legal or commercial entity or undertaking;
(e) a reference to a party to a document includes that party’s successors and permitted assigns;
(f) where a word or phrase is given a defined meaning in these Terms and Conditions any other part of speech or grammatical form of a word or phrase defined in these Terms and Conditions has a corresponding meaning;
(g) reference to any statute or statutory provision includes a reference to that statute or statutory provision as from time to time amended, extended or re-enacted and includes all by-laws, instruments, orders rules and regulations made under it;
(h) any reference to “these Terms and Conditions” is a reference to these Terms and Conditions (including the schedules and appendices) and any written amendments, supplements or novation of these Terms and Conditions from time to time, and includes a reference to any documents which amends, waives, is supplemental to or novates the terms of these Terms and Conditions;
(i) any reference to a date or time is a reference to that date or time in Malaysia;
(j) where the day on or by which any act is to be done is a Sunday or a public holiday in the place in which that act is to be done, then that act must be done on the next working day;
(k) any Terms and Conditions, notice, consent, approval, disclosure or communication under or pursuant to these Terms and Conditions must be in writing;
(l) words denoting an obligation on a party to do an act, matter or thing includes an obligation to procure that it be done or words placing a party under a restriction include an obligation not to permit an infringement of the restriction;
(m) a reference to “days” shall mean Gregorian calendar days;
(n) the expression “including” or “include” means “including without limitation” (with related words being construed accordingly); and
(o) no rule of construction applies to the disadvantage of a party because that party was responsible for the preparation of these Terms and Conditions or any part of it.
2. Digital Voucher
2.1 Through the Services, the Company will issue the “We Pay For You First” digital voucher(s) (“Digital Voucher”) to the User.
2.2 Upon issuance of the Digital Voucher by the Company to the User, the User may, by using the customization features made available by the Company from time to time, customize the Digital Voucher instantaneously by inserting all the necessary details into the Digital Voucher based on the User’s preference (“Customized Digital Voucher”).
2.3 The User agrees that the Customzed Digital Voucher shall be used immediately, failing which, the Customized Digital Voucher shall be null and void.
2.4 The User agree that the Customized Digital Voucher is strictly for the purpose stated by the User in the Customized Digital Voucher. The Customized Digital Voucher is not returnable and/or refundable once issued to the User by the Company. The Customized Digital Vouchers are not exchangeable for cash or other digital vouchers, and cannot be combined with any other Customized Digital Voucher.
2.5 Pursuant to the User’s instruction in the Customized Digital Voucher, the User hereby irrevocably agrees and authorizes the Company to perform the Transaction stated therein, amongst others, to make payment in advance to the User’s intended Recipient in consideration of the User pledging his/her valid credit card to the Company as security.
2.6 Every successful Transaction may entitle the User to earn certain Point which the User may redeem Rewards from the Participating Merchant by using the Points.
2.7 The Company reserves the right to, at any time, vary or terminate the Services or any privileges under the Program with or without prior notification to the User and without being liable in any way to the User.
3. User Account and Security
3.1 To use the Services and to participate in the Program, the User will need to register with the Company by creating an account with the Company (“User Account”). Creation of the User Account is free and only individual of eighteen (18) years and above is eligible to create a User Account with the Company. The User agrees to provide the necessary information to the Company for registration purpose. The Company may, in its sole discretion, approve or refuse an application made by any person to be a User without the need to assign any reason.
3.2 The Company expects the User to safeguard and maintain the security of his/her User Account. The User warrants, represents and agrees that:
(a) the User Account and User’s use of any of the services in relation to the User Account is for User’s own sole personal use and the User will not authorize others to use his/her identity or User status, or assign or otherwise transfer the User Account to any other person or entity.
(b) the User will not invent a false persona but will use your real identity at all times on the application.
(c) the User will not impersonate another person or entity, or otherwise misrepresent User’s affiliation with another person or entity.
(d) if the User invents a false persona or misrepresent his/her real identity, the Company reserves the right to disable, delete, or suspend the User Account without prior notice.
(e) to the fullest extent permitted under the law, the User shall keep all information obtained through this application secure and confidential.
(f) the User is solely responsible for maintaining the confidentiality of the information he/she holds for his/her User Account, including the password, and for any activity that occurs under or through his/her User Account. Notwithstanding that the User Account information may have been used by another person without the User’s knowledge or authority, the Company shall not be liable for any loss, damage, cost or other expense incurred by the User due to any third party using the User Account or password howsoever caused.
(g) the User will not take any action to disable any function provided by, and/or agreeing to any settings of, User’s mobile device that would otherwise result in the security of User Account being compromised.
(h) if the Company disables, deletes, or suspends the User Account, the User agrees he/she will not create another User Account without the Company’s prior written permission.
3.3 The User is responsible for ensuring that the User Account is only used by the User him/herself, and that the User treat his/her user IDs, authorization codes or passwords with extreme care. The User acknowledges and agrees that the User is fully informed of the protections and risks associated with using this Services. The User agrees that the security procedures, if any, to be followed by the User in connection with the Services. If the Company receives instructions that appear on their face to have been given by the User via the Services, the User understands and agrees that the Company cannot determine the identity of the actual sender of such instructions and that the Company shall be entitled to conclusively presume that such instructions have been sent by the User.
3.4 The User may cancel its User Account at any time. Upon the closure of the User Account, all unused Points will immediately expire and be removed from the User Account. The User will not be entitled to any compensation from the Company arising from such expiry and removal of the Points.
3.5 The Company reserves the right to freeze or terminate the User Account in the event that including but not limited to the User is involved or likely to be involved in dishonest, fraudulent, illegal and/or criminal activities in using the Services, the User is in breach of or likely to breach any acts, statutes, laws, by-laws, rules and/or regulations imposed by any regulatory body or government agency in using the Services, the User is in breach or likely to breach any of the terms of these Terms and Conditions, or the User Account becomes domain or inactive for a continuous three-month period or any other period stipulated by the Company. Upon the freezing and termination of the User Account, all unused Points will immediately expire and be removed from the User Account and the User will not be entitled to any compensation from the Company arising from such expiry and removal of the Points.
3.6 The Company will not be held liable for any losses or damages that the User may incur upon freezing or termination of the User account by the Company. Any freezing or termination of the User Account by the Company pursuant to these Terms and Conditions is without prejudice to the Company’s other rights and remedies under these Terms and Conditions or at law.
3.7 Upon the User’s request, the Company may reactivate the User Account in its sole discretion. However, the Company will not reactivate the User Account if the User fails to cooperate with the Company or fails to provide any relevant information upon the request by the Company.
3.8 The User agrees to immediately notify the Company by contacting its customer care department in the event that there is any fraudulent or unauthorized use of the User Account. The Company’s customer care department will investigate the complaint and suspend the User Account as soon as practicable. However, the Company will not be liable to compensate the User any of the loss or damages suffered by the User due to any fraudulent or unauthorized use of his/her User Account as it is the User’s duty to take the necessary precautions to safeguard its User Account.
4. Fulfillment Criteria
4.1 The Company’s provision of the Services to the User is subject to the Company’s KYC process and acceptance of the credit card issuer. For KYC purpose, the Company will require a User to provide a copy of his/her NRIC or Passport, the amount of the required payment in advance, the User’s intended Recipient’s bank account details, and other relevant information or evidence as requested by the Company from time to time.
4.2 Upon authorization by the User, it will take at least One (1) working day for the payment to be credited into the intended Recipient’s bank account.
4.3 All Transaction including the payment in advance performed by the Company to the User’s intended Recipient pursuant to the Customized Digital Voucher is final and non-refundable. The Company will not be held liable to the User if the payment to the User’s intended Recipient fails or unsuccessful due to reasons beyond the Company’s control including but not limited to invalid credit card, insufficient credit limit, payment bank denying the Transaction, invalid Recipient’s bank account number, incorrect bank name, incorrect swift code, improper documentation, etc.
4.4 If the User discovers any discrepancy or error in his/her User Account, the User must notify the Company’s customer care department within seven (7) days from the date of the disputed Transaction. Failing which, the User will be deemed to have accepted the accuracy of the Transaction.
4.5 Upon notification by the User of the discrepancy or error in his/her User Account, the Company will investigate and inform the User of the outcome of the investigation within thirty (30) days from the date of the User’s notification. The Company’s decision is final and binding. In the event any incorrect sum was deducted from the User Account, the Company shall have the rights to make the necessary adjustment or deduction from the User Account as required.
4.6 The Company will not be liable to reimburse the User of any Transaction and/or to reverse any Transaction due to the User’s own error or negligence.
5. Services Fee
5.1 The Company will impose certain Services Fee to the User in consideration of the provision of the Services for the User.
5.2 The Company reserves the right to vary the Services Fee from time to time.
5.3 All Services Fee charged by the Company to the User are final and non-refundable.
6. Points Awarding
6.1 Points will be awarded at a rate determined by the Company when a Transaction successfully is performed by the Company. Every Points awarded will be recorded in the User Account. The Company may alter the method and rate at which Points are awarded from time to time at its own discretion without notice.
6.2 Points accumulation will begin from nil and will expire on its expiry date which shall be determined by the Company at its own discretion. Points cannot be converted into cash or transferred to any third party.
6.3 If a User has any disputes over the Points received, the User must notify the Company within One (1) working day from the date of issuance. Failing which, the User shall be deemed to have agreed with the Points issued. The User may be requested to provide certain supporting documents to the Company in resolving the dispute. However, the Company’s decision is final and binding.
6.4 The User will not be entitled to any Points in the event that the Transactions are cancelled or reversed for whatever reason.
7. Redemption of Rewards
7.1 The User may redeem the Rewards using the Points accumulated in the User Account. The Rewards may be redeemed at the Participating Merchant’s outlets, website, mobile apps or by any other methods as determined by the Company from time to time.
7.2 The User acknowledges and accepts that the redemption of Rewards using the Points is subject to the applicable terms and conditions imposed by the Participating Merchants providing the relevant Reward.
7.3 Typically, the User is required to input a valid PIN for each redemption upon request from the Participating Merchant. The Company or the Participating Merchant reserves the right to reject any redemption if the PIN is invalid. Once the redemption has been accepted, it cannot be cancelled, exchanged or returned. Points cannot be exchanged for cash and can only be used for the redemption of Rewards. Upon confirmation of the redemption, Points used for the redemption will be deducted from the User Account.
7.4 Redemption of Rewards is subject to availability and all other applicable terms and conditions as imposed by the Participating Merchant or the Company. The Company or the Participating Merchant makes no representation or warranty of any kind (whether express or implied) with regards to the condition, fitness for purposes, merchantable quality or otherwise of any Rewards redeemed.
7.5 If the value of the goods and/or services purchased by the User using the Points exceeds the value stated therein, the User shall be responsible for paying the differences to the Merchant.
7.6 The Company shall not be responsible for any failure or delay by the Participating Merchant to supply such Reward, or loss or damage to such Reward during delivery.
8. Intellectual Property Rights
8.1 The User acknowledges that all trademarks, copyrights and other intellectual property rights relating to the Services and the Programs are owned by or licensed to the Company and shall remain the sole property of the Company or its licensor, as the case may be.
8.2 The User agrees not to dispute the ownership of all trademarks, copyrights and other intellectual property rights relating to the Services and the Program. The User shall not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, reverse engineer, transfer, or sell any information, software, products or services obtained from the Services.
10. User Warranties
10.1 The User represents and warrants that at all times during the term of the Services:
(a) all information provided to the Company by the User in connection with these Terms and Conditions, is true and complete in all material respects.
(b) the User has the power to execute, deliver and perform these Terms and Conditions.
(c) these Terms and Conditions is duly authorized and will not violate any provisions of law or conflict with any other Terms and Conditions to which the User is subject or by which the User’s assets are bound.
(d) the User is legally qualified to accept the Services in every jurisdiction where he/she does so.
11.1 The Services are provided on an “as is” and “as available” basis. The Company disclaims all liability and makes no express or implied representation or warranties of any kind in relation to the Services including but not limited to accessibility, timeliness and uninterrupted use of the Services; and completeness, timeliness, sequence, accuracy or the security of any data, information provided to the User as part of the Services.
11.2 The User expressly agrees that its use of the Services is at its sole risk and discretion and the User will assume total responsibility thereof. The User will rely on its own review and evaluation of the Services to assess its suitability for its particular purpose. The User sole remedy against the Company in the event of dissatisfaction is to cease using the Services.
11.3 The Site contains information and materials provided by third parties (“Third-Party Content”).
11.4 By accessing the Site, the User acknowledges and agrees that the Third-Party Content is not created by the Company. The provision of Third-Party Content is for general informational purposes only and does not constitute a recommendation or solicitation to purchase or sell any product or services or make any other type of purchase or decision.
11.5 The Company does not provide any warranty of any kind, express or implied, regarding the Third-Party Content. The Company disclaims any responsibility or liability related to User’s access or use of any Third-Party Content.
11.6 Third party links that may be accessed via the Site are for the convenience of browsers only. The Third-Party Content including any website to which the User links from the Site the responsibility of the provider of is solely the Third-Party Content. Any transactions that the User enters into with the provider of the Third Party Content listed in the Site or linked from the Site are solely between the User and the provider of the Third Party Content and therefore subject to the applicable terms and conditions imposed by that provider of the Third Party Content. The User shall liaise with the provider of the Third-Party Content directly with matters concerning the transactions that the User enters into with the provider of the Third-Party Content. The Company is not responsible in any way for any such Third-Party Content that may be accessed via the Site. The Company does not endorse the Third-Party Content contained in the Site, nor the provider of the Third-Party Content, and hereby disclaims any responsibility for the Third-Party Content.
11.7 The User acknowledges that no guarantees are made by the Company or the Site as to the Third-Party Content’s accuracy, completeness, or timeliness. The User acknowledges and agrees not to hold the Company, the Site, liable for any product or services purchase or any decision or other transaction the User may make based on the reliance on or use of the Third Party Content, or any liability that may arise due to the delivery of the Third Party Content for any reason.
12. Limitation of Liability
12.1 The Company shall not be liable for any special, incidental, indirect or consequential damages, or for any lost revenue, profits or business arising out of, or in connection with the Services and the User Account (including any breach hereof).
12.2 To the extent permitted by law, notwithstanding anything herein (including in any schedules hereto) to the contrary, the maximum aggregate liability of the Company, in all events, to the User or any third party for claims arising out of or relating to these Terms and Conditions or the Services (including, without limitation, indemnification obligations hereunder) shall be limited to the fees and charges actually paid by the User to the Company for the Services giving rise to such liability hereunder immediately preceding the event giving rise to liability.
13.1 The User agrees to, at its sole cost and expense, indemnify, defend and hold harmless the Company against any and all cost, claims, suits, actions, demands, damages, liabilities, expenses (including reasonable fees and disbursements of counsel), judgments, settlements and penalties of every kind (collectively “Losses”) in connection with: (a) any breach by the User of any terms contained herein; (b) any failure by the User to comply with all applicable laws in connection with the Services provided hereunder; (c) any violation or claimed violation of a third party’s rights, including intellectual property rights in connection with the Services; or (d) the negligent or intentionally wrongful acts or omissions of the User.
14. Governing Law and Jurisdiction
14.1 These Terms and Conditions shall be interpreted, construed and enforced in all respects in accordance with the laws of Malaysia. Each Party irrevocably submits to the exclusive jurisdiction of the courts of Malaysia, in connection with any action under these Terms and Conditions, or otherwise arising under or by reason of these Terms and Conditions.
14.2 The Contracts (Rights of Third Parties) Act, Cap. 53B shall not under any circumstances apply to these Terms and Conditions and any person who is not a party to these Terms and Conditions (whether or not such person shall be named, referred to, or otherwise identified, or shall form part of a class of persons so named, referred to, or identified, in these Terms and Conditions) shall have no right whatsoever under the Contracts (Rights of Third Parties) Act, Cap. 53B to enforce these Terms and Conditions or any of its terms.
15. Queries or Complaints
15.1 The User may address its queries or complaints in relation to the Services to the Company’s customer care department via email at firstname.lastname@example.org
16. Third Party Services
16.1 The company may link to or offer any services, products, offers and promotions provided by third parties (“Third Party Services”) through the Services.
16.2 In connection with the User’s use of third party services, the User is responsible for reviewing and understanding the terms and conditions governing any Third Party Services. The User agrees that the third party is solely responsible for the performance of the Third Party Services.
17.1 In the event that any provision of these Terms and Conditions conflicts with the law under which the Terms and Conditions is to be construed or is held invalid by a court with jurisdiction over the parties to the Terms and Conditions, (i) such provision will be deemed to be restated to reflect as nearly as possible the original intentions of the parties in accordance with applicable law, and (ii) the remaining provisions of these Terms and Conditions will remain in full force and effect.
17.2 The captions in these Terms and Conditions are included for convenience only and shall not affect the meaning or interpretation of these Terms and Conditions.
17.3 No failure or delay by the Company in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise of any other rights, power or privilege hereunder.
17.4 The Company shall not be liable for any failure to perform its obligations herein caused by event which is outside the Company reasonable control (“Force Majeure Event”). Force Majeure Event includes an act of God, insurrection or civil disorder, military operations or act of terrorism, all emergency, acts or omission of Government, persons or bodies, or any competent authority, labor trouble or industrial disputes of any kind, fire, lightning, subsidence, explosion, or floods.
17.5 The User may not assign or transfer its rights or obligations granted under these Terms and Conditions by operation of law, contract or otherwise, without the Company’s prior written consent, provided, however, that Company may, without the consent of the User, delegate any obligations under these Terms and Conditions or assign these Terms and Conditions in whole or in part to an affiliate capable of performing the Company’s obligations hereunder. These Terms and Conditions shall be binding upon and inure to the benefit of the successors and permitted assigns of each party.
17.6 These Terms and Conditions constitutes the entire Terms and Conditions between the Company and the User with respect to the subject matter set forth in these Terms and Conditions and supersedes any prior written or oral Terms and Conditions or understanding relating to this subject matter.
17.7 The Company and the User are independent contractors, and nothing contained in these Terms and Conditions will be deemed to create an employment, association, partnership, joint venture, agency or other relationship between or among the parties or any of their respective personnel.
17.8 Recognizing that money damages may not be an adequate remedy in the event of a breach of the provisions of these Terms and Conditions regarding confidentiality, privacy and data protection and intellectual property and that such a breach may cause immediate and irreparable harm, the Company shall have the right to seek equitable relief, including injunctive relief and specific performance, without the necessity of posting any bond in connection therewith.
17.9 Except as set forth in these Terms and Conditions, the User shall not be granted any rights under these Terms and Conditions to use any trademark, trade name or service mark, which belongs or is licensed to the Company.