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Terms and Conditions

Batelco Financial Services LTD Application Terms and Conditions (“Agreement”)

The terms and conditions set out in this Agreement, as amended from time to time by us, Beyon Money (as defined below), at our discretion and apply to you and your use and access of certain services made available by Beyon Money through the App.

The Services consist of

  1. Account Aggregation and Payment Initiation Service; and
  2. International transfer services payments.

The Account Aggregation and Payment Initiation Service will allow you to:

  • view transaction and balance information from Bank Account(s) that you have with financial institutions; and
  • and to initiate payments from these Bank Accounts, through the Open Banking Platform embedded in the App.

The Services of Beyon Money are offered under the commercial trademark “BEYON Money” ©, owned by =Bahrain Telecommunications Company B.S.C..

The following sets out the Services and their applicable license as licensed by the ADGM (the “Licenses”):

.

The International Transfer Services in this Agreement are provided by Beyon Money under the Financial Permission to Conduct Regulated Activities (Providing Money Services & Providing Third Party Services) , issued by the ADGM

  1. Interpretation and definitions
  1. Interpretation- The terms defined in section (A. Interpretations and Definitions) of this Agreement have the meanings therein for the purposes of this Agreement. For all other capitalized words that are used in this Agreement that are not defined in Clause 2 of section A, those words are in “bold” and are as defined the first time they are used.
  2. Definitions

“Account Aggregation” refers to the consolidation of customer financial data from all their accounts onto one place through application programming interfaces (APIs) allowing the secure sharing of financial data between banks, fintechs, and other financial institutions.;

“ADGM” means the Abu Dhabi Global Market;

“Applicable Laws” means the laws applicable to the Services;

“ATM” means the automated teller machine of a financial institution;

“Bank Account(s)” means a bank account you hold with a financial institution;

“App” means the application developed by Beyon Money for the provision of the Services;

“Beyon Money” or “Beyon” shall mean Beyon Financial Services LTD, an ADGM incorporated entity with its registered address at Offices 101, 102 and 103, 11th Floor, Al Sarab Tower, ADGM Square, Al Maryah Island, Abu Dhabi, United Arab Emirates and is regulated by FSRA under registration number 000007581, licensed to providing Money Services and Third Party Service activities.  BFS;

 

“International Transfer Service” means the feature of the Service which allow you to remit money internationally to a receiver in cash or directly in its bank account;

“Open Banking Platform” means the feature of the  App that enables the Account Aggregation and Payment Initiation Service;

“Credentials” means your username and passwords (including but not limited to any PIN);

“Device” means the device, such as mobile handsets, tablets or any other applicable device, on which you will download the App;

“FSRA” means the Financial Services Regulatory Authority of the ADGM;

“Force Majeure Event” means any event beyond the reasonable control of the parties. Such events include but are not limited to acts of God, fire, acts of terrorism, natural disasters, infectious diseases, war, civil commotion, embargo, labour dispute, prevention from obtaining raw materials, power failure, acts of government;

“Intellectual Property Rights” means copyright (including rights in computer software), patents, source code, trademarks, trade names, service marks, logos, business name (including Internet domain names), design rights, database rights, semi-conductor topography rights, rights in undisclosed or confidential information (such as know-how, trade secrets and inventions (whether patentable or not)) and all other intellectual property or similar proprietary rights of whatever nature (whether registered or not including applications to register or rights to apply for registration) which may now or in the future subsist anywhere in the world;

“PIN” means personal identification numbers;

“POS” means point of sale and refers to any place where a transaction might occur;

“Partners” means third parties associated with Beyon Money who either (a) provide complimentary services to the Services or (b) promote their services on the App;

“Regulation(s)” means the regulations applicable to the Services including, but not limited to, the Applicable Laws of the ADGM and the United Arab Emirates, the Anti-Money Laundering regulations and Sanction Programs maintained by the United Nations Security Council, the US Government (e.g., the US Department of Treasury’s Specially Designated Nationals list and Foreign Sanctions Evaders list and the US Department of Commerce’s Entity List), the European Union or its member states, or other applicable government authority.

“Service” and/or “Services” means any of the service(s) provided by Beyon Money pursuant to this Agreement and in compliance with the terms of the Licenses =;

  1. General
  2. Eligibility

1.1 In order to access the Services, you confirm that:

(i) you are 21 years or older;

(ii) you are a resident of theUnited Arab Emirates and have a valid mobile number in the UAE; ;

(iii) you accept this Agreement and any modifications to it by your continued use of the App; and

(iv) you are not legally prohibited from receiving the Services in the ADGM.

1.2 You agree to notify Beyon Money in the event that any of the above information is subject to a change.

1.3 Your registration to the Services is subject to you completing all required information on the registration page in the App and Beyon Money accepting your registration.

 

1.4 You must provide Beyon Money at any time with any information that we may require or may be required by Applicable Laws, the ADGM, any regulatory authority or any financial partner in order to (i) offer the Services and (ii) verify your identity.

1.5 Subject to Applicable Law, Beyon Money reserves the right to make a credit-check on your creditworthiness.

1.6 It is Your responsibility to update the information supplied to Us should any change occur. Beyon Money will not be liable for any issues, delays, losses or any other form of issue and/or damage that you may incur due to your failure in updating the information supplied.

1.7 Beyon Money may reject a registration application to access the Services, or with immediate effect suspend or terminate the Services should you fail to meet or comply with any of the above requirements or the terms of this Agreement.

1.8 Depending on your nationality and your banking services provider, some Services (or aspects of the Services) may be available while others may not be. For further details on which Services are available for you to use, you may contact Us using any of the contact methods detailed in this Agreement. Beyon Money has the absolute discretion in determining which Services it shall make available to you.

  1. Device

2.1 In order to download the App, your Device should (i) be capable of accessing the internet (ii) be compatible with IOS 13 or later and Android 6.0 or later and (iii) have not unlocked the Device in contravention of the Device manufacturer’s or your telecom supplier’s policies. We may update the technical specifications required to use the App at our discretion. You agree to ensure that your Device is updated to meet those technical specifications to continue using the App. Beyon Money reserves the right to suspend or terminate your access to the Services should you be in breach of the terms of this Clause 2 of section B.

  1. Credentials

3.1 To access the Services via the App, you must use your Credentials. You may also be required to answer a Security Question or enter a Passcode that is sent to you via email or SMS text.

3.2 You agree that Beyon Money may accept and act upon any instructions provided to us through the App when your Credentials have bseen used to access the App, whether or not it is you who accessed the App. You agree that electronic display pages accessed by entering your Credentials constitute written documents and that clicking or otherwise electronically activating “OK”, “submit”, “continue”, “approve”, or similar areas of such pages according to on-screen instructions or otherwise submitting instructions electronically shall have the same legal effect as if you had signed by hand and delivered hard copy versions of such pages to Beyon Money with intent to be legally bound by their contents. You agree that once such instructions are clicked or submitted, Beyon Money shall have no obligation to reverse them.

3.3 When using the Open Banking Platform, you authorize the Beyon Money provider to access your Bank Account(s), including by accessing the online system of your Bank(s) and corresponding Credentials in order to register, access, retrieve and download the Bank Account information.

3.4 You are responsible for maintaining the secrecy and security of your Credentials. You should not disclose your Credentials to any third party. If any of your Credentials is compromised, you must notify Beyon Money immediately in accordance with Clause 14 in order for Beyon Money to suspend/block your access to the Services and prevent any unauthorized transactions. The same communication channel shall be used to unlock/restore the Services. You will not be liable for any fraudulent/unauthorized transaction after you have notified Beyon Money that your Credentials have been compromised, the Services have been used fraudulently by an unauthorized person or that your Device is stolen, missing or lost except when attributable to your negligence, bad faith or fraud.

3.5 Beyon Money is not responsible for any misuse of your credentials, hacking, identity fraud or use of your Device(s) if lost,  stolen or hacked. We treat all use of the Services and/or the App as if they were conducted by you.

  1. Compliance

4.1 You agree that neither the App nor the Services will be used for illegal, fraudulent or unethical purposes or for purposes which could affect the security or integrity of the App, the Services, other Beyon Money users or customers or any other Beyon Money systems, hardware or software.

4.2 Beyon Money reserves the right to deny/restrict access to the App, or some or all of the Services under certain circumstances, or to reject any transaction in the following cases:

(i) if any of your assets are attached or assigned by a legal order;

(ii) if we are required to do so by court order or Applicable Law;

(iii) if in the judgment of Beyon Money any activity on your use of App, or any one or more of the Services, is for illegal, unethical or fraudulent purposes;

(iv) if in the judgment of Beyon Money access to the App or more generally the Services is being performed fraudulently or without your consent;

(v) if you are in arrears in any of your obligation to Beyon Money including but not limited to service charges;

(vi) if access to the App and/or the Services is being used to attempt to obtain unauthorized access to Beyon Money’s other users or customers, systems, hardware or software;

(vii) if you are in breach of this Agreement (including breach of warranties);

(viii) if your use of the Services is suspected to breach or breaches any Applicable Law or Regulation;

(ix) If you do not use the App or the Services for more than six (6) months;

(x) if your device is lost or stolen;

(xi) in order to comply with any Applicable Law and Regulation;

(xii) if there is an investigation or dispute raised against you and your use of the Services(including but not limited to in compliance with a court order or due to anti-money laundering investigations) and/or

(xiii) if you use the Services or the App for any non-consumer (including commercial) uses.

4.3 We are not liable for any losses and/or damages (direct or indirect, including but not limited to loss of profits, loss of business, or any indirect, consequential, special or punitive losses) incurred due to any denial/restriction to the App and/or the Services by us due to any of the reasons detailed in this Clause.

4.4 If you request reinstatement of access to the App or any of the Services, Beyon Money may require that you take certain steps or comply with any Beyon Money’s requirements, before Beyon Money may permit access (such steps may include the update of the security software on your Device). Such steps may include, but are not limited to, starting the onboarding process again and providing additional and/or new identification.

  1. Limits

5.1 Any authorization of any transaction shall be subject to the availability of funds in your Bank Account(s). Beyon Money may refuse to honour any payment and/or funds transfer request if there are insufficient funds in your connected Bank Account.

5.2 Beyon Money may impose limits on the amount of money you use or number of transactions that you may execute in a period of time.

5.3 Beyon Money may also introduce new or amended limits to transactions to enhance security of its customers as well as comply with regulatory requirements including requirements relating to preventing and combatting money laundering and financing of terrorist organizations.

5.4 When using the Services to purchase goods and services, you acknowledge that (i) the processing of the transaction is conditional to the merchant accepting the Services as form of payment and (ii) that Beyon Money shall not be held liable for the transaction being declined by the merchant.

  1. Fees
    • You agree to pay the fees that may be applicable to your use of the Services.

6.2 You agree that in some cases, the transaction amount will also include fees, charges and value added tax (VAT) payable on such transaction and it is your responsibility prior to approving the processing of a transaction to review the amount(s) of such transaction.

6.3 Beyon Money reserves the right to amend or change any fee or charge applicable to the Services at any time; such amendments and changes shall be displayed on the App or website.

6.4 The user is solely responsible for keeping up to date with any changes in fees and charges. Beyon Money will not be liable for any losses, costs, damages or any other form of damage caused by its changes to fees or charges.

6.5 We may set off any amounts you owe us from the amounts available in your Bank Accounts, be it fees or charges detailed above, detailed elsewhere in this Agreement or otherwise associated with the Services.

6.6 You are responsible for the payment of all taxes and duties (the “Taxes”) associated with your use of the Services including but not limited to sales, use, transfer, VAT, withholding and any other Taxes in any other form.

  1. Statements

7.1 Transactions processed as part of the Services will be listed in your APP, and we advise that you check on a regular basis your transaction history.

7.2 For your transactions processed on the App, a monthly statement detailing your transaction history may be communicated to you once a month. The monthly statement will detail each transaction with corresponding date of completion, fees and charges (if any).

  1. Payments

8.1 You authorize the Services to credit the payments you receive on your Bank Account. You also authorize the Services to follow the payment instructions that it receives from you through the the Account Aggregation and Payment Initiation Service. When the Service receives a payment instruction, you authorize the Services to debit or charge your  Bank Account on your behalf.

8.2 Beyon Money shall not incur any liability if it is unable to complete any payments initiated by you for any reason beyond Beyon Money’s control, including because of the existence of any one or more of the following circumstances:

(i) If, through no fault of the Services, you don’t have sufficient funds to complete the payment;

(ii) The Service’s payment processing center is not working properly and you know or have been advised by Beyon Money about the malfunction before you execute the Payment;

  • You have not provided Beyon Money with the correct information, or information that you provided becomes incorrect (e.g., if you are issues a new payment card with a new card number); and/or

(iv) Circumstances beyond the reasonable control of Beyon Money (such as Force Majeure Event) occurs, even if foreseeable or foreseen, that prevent the proper execution of the payment.

8.3 Beyon Money rejects the right to credit funds into your Bank Account or to process transfer(s) from your Bank Account if the information required in relation to the transaction is inaccurate or incomplete. Beyon Money shall not be held liable for any loss you may incur as a result of such rejection.

8.4 When a payment instruction is received by Beyon Money, we will send you a notification on the outcome of the transaction (acceptance or rejection) together with a reference number so you can track the payment, the details of the payment beneficiary and breakdown of any applicable charges and fees.

8.5 The Account Aggregation and Payment Initiation Service will give you the option to (i) authorize directs payments to merchants and (ii) to process preauthorized transactions with merchants for transactions with a fixed amount payable on a recurring basis (such as a subscription for streaming TV) or without a fixed amount and payable on a recurring or non-recurring basis (such as purchases on Google Store). The use of these options is at your own risk and you Beyon Money shall not be held liable for any loss or damage you may incur as a result of such payments being processed except in case of non-processed or defectively executed transaction directly attributable to Beyon Money gross negligence or willful misconduct, in which case Beyon Money will refund your Bank Account with the amount of the non-processed or defectively executed transaction as soon as reasonably practicable. This covers the extent of Beyon Money’s liability, and no additional costs, damages or reparations shall be payable by Beyon Money.

  1. The International Transfer Service

The terms and conditions of this Clause 9 are applicable to your use of the International Transfer Service and are in addition to and not in derogation of the other terms of this Agreement.

9.1 General

9.1.1 The International Transfer Service allows you to transfer money. Beyon Money recommends that you use the International Transfer Service only to send money to people you know personally, such as family and friends. You should never use the Beyon International Transfer Service to send requests or money to strangers.

9.1.2 You will be able to transfer funds from your Bank Account with the International Transfer Service.

9.1.3 You understand that the International Transfer Service may not be possible in certain countries due to certain Applicable Laws and Regulations.

9.1.4 You will bear all the costs associated with the International Transfer Service, such costs shall include without limitation administration fees, limitation fees, charges, Taxes imposed by the authorities of the country where the funds are transferred, exchange fees and transfer fees (the “Costs”). When practicable, we will share with you the breakdown of the Costs prior to completing a transaction keeping in mind that it is not always possible to calculate the Costs in advance.

9.1.4 For transfers in a currency different from the currency of your Bank Account, such transfer will usually be made in the currency of the destination country at the prevailing rate determined by Beyon Money from time to time, on top of the Costs. The currency will be converted at the time of transfer and the recipient will receive the foreign currency amount shown on the transaction form. In some countries, local regulations require the currency to be converted at the time the receiver is paid, in which case the exchange rate fluctuations between the time of transfer and the time the receiver collects the funds may vary.

9.1.5 In some other countries, payments in multiple currencies are permitted, in which case you must select the currency of the payment to the receiver when processing the transfer.

9.1.6 Beyon Money is not responsible for the currency exchange rate that will be applied if the recipient chooses to receive a currency other than the currency you selected.

9.1.7 The International Transfer Service will also allow you to make international transfer to the bank account of the receiver, in which case, in addition to the Costs, you will be liable for any additional fees when the currency of the transfer is different from the local currency, or when the local regulations impose that the conversion is made at the time the receiver receives the payment. The exchange rate applied in this situation may be less beneficial than those rates publicized and used between banks. Beyon Money is not liable for any difference between the rate publicized and the rate received.

9.2 Refunds

9.2.1 In the event the transfer cannot be credited within forty-five (45) days because such transfer is restricted by Applicable Laws and Regulations, a transfer exceeds the limits placed by Beyon Money or any other authority, Beyon Money and its remittance correspondents will refund the principal transfer amount to your Bank Account.

9.2.2 Notwithstanding any of the above, Beyon Money shall not be obliged to refund you in any of the following circumstances:

  1. If Beyon Money processed the payment on time and a transfer is completed in accordance with your instructions and the information provided by you and such information was incorrect or contained errors of any kind; or
  2. If Beyon Money can show that payment was in fact received;

9.2.3 If you are entitled to a refund, Beyon Money will credit the principal amount back to you in the same currency in which the request was made under.

9.2.4 In the event the transfer cannot be credit because Beyon Money considers such transaction to be fraudulent or otherwise illegal in nature, you shall not be refunded any of the principal transfer amount or any associated fees.

9.3 Right to Delay and Refuse

9.3.1 Beyon Money shall not incur any liability and may refuse any attempted remittance, refuse to process any remittance, or delay processing any such remittance, at any time for any of the reasons set out in Clause 8 in addition to the following:

  1. Beyon Money reasonably believes that it does not have your consent;
  2. Beyon Money reasonably believes that processing of your Instruction would breach this Agreement;
  3. the amount exceeds any transaction limit Beyon Money may apply to such payments from time to time;
  4. if there are insufficient funds to make the payment and/or to cover the Beyon International Transfer Service fees and any other fees, costs or charges Beyon Money may incur in making the payment;
  5. Beyon Money have blocked your use of the Beyon International Transfer Service; and
  6. Regulatory obligations requires additional checks and balances before such transfer is processed.

9.3.2     Beyon Money can charge a fee for refusing any payment or Instruction. Where such a fee applies, it will be set out in the App.

9.3.3 You agree that Beyon Money its remittance correspondents cannot be held liable for damages in relation to (i) the provision of any incorrect information when processing the transfer, (ii) any delay in the processing of a transfer initiated through the International Transfer Service, and resulting without limitation from events such as the transaction exceeding the authorized amount transfer or is restricted pursuant to any allowed per Applicable Laws and Regulations, nor for (iii) a failure to complete a transfer whether caused by the gross negligence of Beyon  Money and remittance correspondents’ employees, agents or representative except for the refund of the principal amount of the transfer.

9.4 Liability

9.4.1 Beyon Money shall have no liability beyond the repayment of the principial amount of the transaction under this Agreement with regards to the use and/or any failure by Beyon Money under the Beyon International Transfer Service.

9.4.2 Except where (and to the extent that) the Applicable Laws and Regulations say otherwise, You agree that Beyon Money and its remittance correspondents cannot be held liable for damages (including but not limited to special and/or consequential damages) of any kind resulting from or caused by:

  1. any use by you of the App or the Services for a commercial, business or resale purpose. In particular, and without limiting this exclusion, we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity; or
  2. a failure to complete a transfer whether caused by the gross negligence of Beyon Money and remittance correspondents’ employees, agents or representative except for the refund of the principal amount of the transfer.

 

9.5 Transfer Programs

9.5.1 Beyon Money may from time-to-time launch remittance discount program and offers (the “Remittance Program(s)”). Beyon Money will notify you when a Remittance Program is launched together with its applicable terms and conditions.

9.5.2 General Remittance Program Terms:

(i) Beyon Money is not responsible for any delays, failure to deliver, or miscalculations of reward, discounts, or any other offer’s amounts.

(ii) Payments must be submitted before the expiration and/or revocation of the Remittance Programs.

(iii) All Remittance Programs and/or rewards are valid only for Beyon Money customers who: (a) have passed all relevant customer identification and screening requirements= and (b) otherwise comply with this Agreement.

(iv) Remittance Programs are subject to updates, limitations, modifications and/or termination by Beyon Money at its sole discretion. Beyon reserves the right to end a promotional offer at any time. Beyon Money may also revoke any Remittance Programs from any customer or may cancel or remove a reward from any customer’s account who Beyon Money in its sole discretion deems or suspects: (a) has abused the Remittance Programs; (b) has violated any applicable terms and conditions; (c) has violated this Agreement; (d) has engaged in any activity it deems fraudulent or in violation of applicable law; or (e) for any other reason.

(v) This Agreement and any other applicable terms and conditions specific to a particular promotional offer and reward shall govern all other aspects of the Remittance Programs.

9.5.3 Supplementary Terms – Supplementary terms applicable to Remittance Programs are further detailed and fully available atFor the avoidance of doubt, these are in additions to and not in derogation of the terms in Clause 9.

9.6 THE INTERNATIONAL TRANSFER SERVICE THE SERVICE AND RELATED DOCUMENTATION ARE PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE

10- Intentionally left blank11. Account Aggregation and Payment Initiation Service

The terms and conditions of this Clause 11 are applicable to your use of the Account Aggregation and Payment Initiation Service and are in addition to and not in derogation of the other terms of this Agreement.

11.1 The Account Aggregation and Payment Initiation Service will allow you to (i) view transaction and balance information from the Bank Account(s) that you have with financial institutions and that are registered on the App and (ii) to process transactions from these Bank Accounts, both through the App and the Open Banking Platform embedded in the App.

11.2 The Account Aggregation and Payment Initiation Service, with respect to account aggregation, is provided as a convenience and should not be considered a substitute or replacement for account statements or other documentation provided by the financial institutions that provide you with the Bank Account(s).

11.3 You represent and agree that all information you provide in connection with the Account Aggregation and Payment Initiation Service is accurate, current, and complete. You agree not to misrepresent your identity or Bank Account information. You agree to keep the Bank Account information secure, up to date and accurate. You represent that you are a legal owner, or an authorized user, of the Bank Account(s).

11.4 You grant Beyon Money and its partners the right to access information and online accounts of the Bank Accounts you have with financial institutions and to contact such financial institutions on your behalf. You authorize us and our Partners to use such information and access, including Credentials or other content you provide through the Account Aggregation and Payment Initiation Service to retrieve data on your behalf and process transactions for purposes of providing the Account Aggregation and Payment Initiation Service. Third-party sites shall be entitled to rely on the authorization granted by you or through your Bank Account.

11.5 Beyon Money will have no liability for any loss or damage arising from your use of the Account Aggregation and Payment Initiation Service to the extent that the financial institution in which you have a Bank Account is responsible for that loss or damage.

11.6 Beyon Money will not be liable for any loss or damage caused as a result of unauthorized access to the Account Aggregation and Payment Initiation Service or any of your Bank Accounts if:

(i) you intentionally or negligently failed to take all reasonable precautions to protect your Credentials or any Device used to access the Services;

(ii) you failed to notify us that the Service was being accessed in an unauthorized way after becoming aware of it; or

(iii) you acted fraudulently.

11.7 If you suspect that a payment from one of your Bank Accounts using Account Aggregation and Payment Initiation Service was not authorized or was incorrect, you must contact the financial institution holding the Bank Account from which the payment was made as soon as possible. If Beyon Money is at fault for the unauthorized or incorrect payment, Beyon Money will handle this directly with the financial institution.

11.8 Beyon Money may suspend, restrict or stop your use of the Account Aggregation and Payment Initiation Service if it reasonably thinks it is necessary because, for example:

(i) Beyon Money thinks the security of your Bank Account(s) or the Account Aggregation and Payment Initiation Service is at risk;

(ii) Beyon Money suspects unauthorized or fraudulent use of your Credentials or the Account Aggregation and Payment Initiation Service;

(iii) any of the situations in Clause 4.2 (i) to (viii) occurs; or

(iv) a Force Majeure Event occurs.

11.9 Beyon Money may refuse to initiate a payment using the Account Aggregation and Payment Initiation Service where:

(i) You provide incorrect or incomplete information;

(ii) We do not receive your consent to initiate the payment;

(iii) any of the situations in Clause 4.2 (i) to (viii) applies.

11.10 Beyon Money shall not be liable to you for any loss of profits, loss of business, or any indirect, consequential, special or punitive losses incurred due to any failures of Beyon Money or the App unless cause by Beyon Money ’s willful misconduct, fraud, or gross negligence.

11.11 Nothing in this Clause 11 shall exclude or limit the liability of Beyon Money for death or personal injury resulting from Beyon Money’s  gross negligence or fraud.

11.12 THE ACCOUNT AGGREGATION AND PAYMENT INITIATION SERVICE AND RELATED DOCUMENTATION ARE PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

11.13 The above exclusions and limitations set out in this paragraph shall apply to any liability of our affiliates and other suppliers, contractors, agents or distributors and any of their respective affiliates (if any), to you, which may arise in connection with the provision of the Account Aggregation and Payment Initiation Service.

12-Intentionally left blank13. Term and Termination

13.1 This Agreement shall become binding once you select “Accept” and shall continue unless terminated pursuant to this Clause 13. You agree that the commencement date of each individual Service is contingent upon Beyon Money accepting the relevant registration for each individual Service.

13.2 You may terminate this Agreement at any time after notifying Beyon Money in accordance with this Clause 13 and Clause 14 and the termination by you of a specific Service shall not affect the validity of this Agreement with regards to the remaining Services.

13.3 Your termination of the Agreement shall only be effective after you settle all amounts, charges, and other fees that are due to Beyon Money under the Services that you have subscribed to.

13.4 Beyon Money reserves the right to terminate or suspend in whole or in part this Agreement in any of the following cases:

(i) if any of your assets are attached or assigned by a legal order;

(ii) we are required to do so by court order or Applicable Law;

(iii) if in the judgment of Beyon Money any activity on or your use of the App, or any one or more of the Services, is for illegal or fraudulent purposes;

(iv)if in the judgment of Beyon Money access to your App or more generally the Services is being performed fraudulently or without your consent;

(v) if you are in arrears in any obligation to Beyon Money including service charges, etc.;

(vi) if access to the App, and/or the Services is being used to attempt to obtain unauthorized access to Beyon Money systems, hardware or software;

(vii) you are in breach of this Agreement (including breach of warranties);

(viii)  your use of the Services is suspected to breach or breaches any Applicable Law or Regulation;

(ix) in order to comply with any Applicable Law and Regulation;

(x) for convenience.

13.5 .

13.6 Beyon Money may, at its sole discretion, reinstate the Services if it is satisfied that you have rectified any breach of this Agreement or the reason for the initial suspension of the Service no longer applies.

  1. Notifications-Resolving disputes and complaints

14.1 Notification relating to a transaction (refund or incorrect executed payment transaction):

hello.uae@beyonmoney.ae

14.2 Notification to report any fraudulent/unauthorized use of the Services, suspect transaction, compromised Credentials, Device stolen/missing /lost:

hello.uae@beyonmoney.ae

14.3 Technical assistance:

hello.uae@beyonmoney.ae

14.4 General Notification:

hello.uae@beyonmoney.ae

14.5 Complaints: 

complaints.uae@beyonmoney.ae

 

14.6 Dispute Fees and Indemnity

Any dispute raised by you shall be subject to the investigation process and fees notified to You by the Beyon Money agents when raising such dispute. You expressly agree to indemnify Beyon Money for all the fees it may incur when raising the dispute.

 

14.7 Additional Information

You may also contact us through our social media on Instagram (@beyonmoney) or through our website (https://www.beyonmoney.com).

 

  1. Protection of Personal Information

15.1 You acknowledge and expressly agree to Beyon Money collecting personal information about you. Such information may be collected from you and others or generated within our Network when you or anyone else uses the Services or any other service.

15.2 You acknowledge and expressly consent to Beyon Money using your information for any lawful purpose including providing you with the Services, account management, billing, debt collection, credit assessments, directory purposes, market research, customer profiling, product and service development, marketing and customer care.

15.3 Your customer information may be retained for a reasonable period of time in a secure environment in accordance with Clause 15.8. You acknowledge that calls to our customer care centre may be recorded for training and quality control purposes.

15.4 You acknowledge and expressly consent Beyon Money disclosing your information to third parties (such as to our agents, credit agents and other carriers) for purposes including credit referencing, fraud detection and prevention,  debt  collection,  investigating  insurance  claims,  directory  purposes,  for any reason required by law and for any other lawful purpose.

15.5 You may ask to see your account information and any other information that we hold about you and ask for any details that are wrong to be corrected. We reserve the right to refuse such a request where we are unable to verify that the person requesting the information is in fact you or a person authorized by you. We shall not be liable for the disclosure or non-disclosure of such information or for any inaccuracy or lack of completeness of any information disclosed.

15.6 For more information, please refer to our data privacy:

15.7 When you are required in the process of registration to a Service to operate a biometric (fingerprint, touch or face ID) identification (eKYC), you understand that such identification is performed by the  [•] know your client (eKYC) platform developed by  [•] designed to authenticate, receive and verify your identity and information from the [•]periodically to banks, financial institutions, financial service providers and approved entities by the  UAE authorities. You agree that the  [•] will collect on behalf of Beyon Money the information as per  regulatory requirements:

(i) Personal and ID information;

(ii) Contact information;

(iii) Account details;

(iv) Employment details;

(v) Residency information.

15.8 You agree that your information will be retained for six (6) years (or, if required under the Applicable Law, for longer periods) and might be shared with third parties within and outside the  UAE for the purposes of regulatory requirement, cloud storage, statistic and others and you confirm that you have read the above and fully understood the purposes in which [•]retains your information, and provide your consent to the  [•] to collect, retain, process, update, disclose and transfer this information for eKYC purposes.

15.9 Our use of the information detailed in this Clause shall at all times be in accordance with the ADGM Data Protection Regulations 2021.

  1. Warranties

16.1 You represent and warrant that:

(i) You are eligible to use the Services offered by Beyon Money and you have the full capacity to enter into and fulfill this Agreement;

(ii) all information provided by you to Beyon Money, including information provided during any registration process, is true and complete, and that it is not misleading;

(iii) You will only use the Services to transact on our own account and not on behalf of any other person or entity unless you are specifically approved to do so and Beyon Money approves after being informed of the previous by written notice;

(iv) You and all transactions initiated by you will comply with all Applicable Laws and Regulations;

(v) You will not use the Services, directly or indirectly, for any fraudulent undertaking or in any manner so as to interfere with the use of the Services; and

(vi) You are compliant with Applicable Laws and Regulations.

16.2 Beyon Money cannot guarantee that the Service will be free from faults and interruptions which arise from factors which are outside Beyon Money’s control, whether as a result of network performance, third party interference or otherwise. You accept that you may not be able to receive the Services where certain technical restrictions arise, although Beyon Money shall use reasonable endeavours to keep any disruption to the provision of the Service in such circumstances to a minimum.

16.3 Save as expressly provided in this Agreement and to the extent permissible under the Applicable Law and Regulations, all warranties, terms and conditions (whether implied by common law, statute, custom or otherwise) regarding the Services and/or the App are hereby excluded.

16.4 WE DO NOT WARRANT THAT THE USE AND OPERATION OF THE APP OR THE SERVICES IS OR WILL BE SECURE, TIMELY, ACCURATE, COMPLETE, UNINTERRUPTED, WITHOUT ERRORS, OR FREE OF VIRUSES, DEFECTS, WORMS, OTHER HARMFUL COMPONENTS OR OTHER PROGRAM LIMITATIONS AND/OR MAKE ANY REPRESENTATION REGARDING THE USE, INABILITY TO USE OR OPERATE, OR THE RESULTS OF THE USE OF THE APP OR THE SERVICES AVAILABLE THEREON.

16.5 THE CONTENT AVAILABLE ON THE APP OR THE SERVICES SHOULD NOT BE USED AS A BASIS FOR MAKING BUSINESS DECISIONS NOR SHOULD IT BE REGARDED BY YOU AS A SUBSTITUTE FOR SPECIFIC PROFESSIONAL ADVICE. BEYON MONEY MAKES NO WARRANTIES OR REPRESENTATIONS TO YOU AS TO THE ACCURACY, AUTHENTICITY OR COMPLETENESS OF THE CONTENT ON THE APP OR THE SERVICES, WHICH IS SUBJECT TO CHANGE AT ANY TIME. FOR THE AVOIDNACE OF DOUBT, THIS ALSO INCLUDES ANY CONTENT WHICH IS NOT OWNED NOR OPERATED BY BEYON BUT INSTEAD BY OUR PARTNERS.

16.6 THE SERVICES ARE PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND, EITHER EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

  1. Liability

17.1 Beyon Money will not be liable for failure to provide the Services caused by a Force Majeure Event.

17.2 Beyon Money does not in any way exclude or limit its liability for (i) death or personal injury resulting from the negligence of Batelco or its directors, officers, employees, contractors or agents; or (ii) in respect of fraud, any fraudulent statements made by Beyon Money or its directors, officers, employees, contractors or agents.

17.3 Subject always to Clause 17.2, Beyon Money shall not have any liability to you in respect of your use of the Services which is not in accordance with this Agreement.

17.4 Subject always to Clause 17.2, Beyon Money shall not be liable to you, whether in contract, tort or otherwise arising out of this contract for (i) any loss of profits, revenue, anticipated savings, loss or corruption of data, loss of contract or opportunity or loss of goodwill; or (ii) any indirect or consequential loss of whatever nature, which could be described as indirect or consequential and whether or not reasonably foreseeable, reasonably contemplatable, or actually contemplated by the parties at the time of the commencement of the Services.

17.6 The liability of each of Beyon Money shall be limited to the specific Services provided by it.

17.7 Beyon Money is not involved in nor responsible for any of the transactions performed under the Beyon Money Card(s) or supplementary Beyon Money Card(s), Wallet or Services with any external service or product provider. You acknowledge that Beyon Money is not the operator of these external services nor the provider of these external products (for the avoidance of doubt, external services and products means any product purchased from any third party other than Beyon Money). Beyon Money shall not be responsible nor shall it be involved in any issues that may arise between you and a service or product provider due to a failure by them in providing you with agreed to services or products.

17.8 Beyon Money shall under no circumstances be liable for any losses or damage incurred by you due to:

(a) any dealing conducted between you and a third party based on the advertising appearing in our App or website (regardless of the accuracy or misleading nature of such advertising);

(b) any alteration, modification, reduction or cessation to the Services as a whole or any part thereof;

(c) any malfunction of the Services including but not limited to deletion, corruption or any other error which may hinder or disrupt the Services or its communication of data; And

(d) any consequences that may result from technical problems including but not limited slow internet connection, traffic congestion, overload of servers, delays or interruptions from any of the telecommunications or internet providers.

17.9 You remain wholey liable for all amounts in your Bank Accounts including but not limited to any negative balances. Beyon Money shall have the right to take necessary actions to recover any amounts owed by you to us. You will be liable to pay us upon claim all amounts associated with the collection including but not limited to legal fees, court costs and collection agency fees.

17.10 Reference to any specific product, process, services by trade name, trademark, manufacturer or otherwise does not constitute or imply endorsement, recommendation or favour by Beyon Money. You remain wholly liable for your actions and we explicitly reject any indication that such actions were due to a endorsement, favour or recommendation by us.

  1. Indemnity

18.1 You  agree  to  indemnify,  defend  and  hold  Beyon Money harmless  absolutely  from  and  against all  costs, losses, claims, damages and expenses (including  without  limitation  any  legal costs)  of  any kind whatsoever, whether foreseeable or not, that may be suffered by Beyon Money as a result of your use of the Services (or anyone using the Service with your permission), which are brought or threatened against us by a third party where you are at fault.

18.2 You will indemnify, defend and hold harmless us, our affiliates and our Partners (and their respective employees, directors, agents and representatives) from and against any and all claims, costs, actions, suits, or demands and any related losses, damages, liabilities, 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 (i) any actual or alleged breach of your representations, warranties, or obligations set forth in this Agreement, including without limitation any violation of any Applicable Laws or rules; (ii) any actual or alleged infringement, misappropriation or violation of any third-party rights or applicable law by your trademarks used in connection with the Services or the App; (iii) your use of the Services; or (iv) any transaction submitted by you through the Services.

18.4 For the avoidance of doubt, the scope of any indemnity given by You to Beyon Money under this Clause 18 shall include any Eligible Minor of whom you are the Guardian for.

  1. Intellectual Property Rights

19.1 The Services will contain certain software to enable you to use or have full access to certain features of the Service.

19.2 Beyon Money and its Partners retains title to and ownership of all theirIntellectual Property Rights in the App, the Service(s) and/or their respective services and nothing in this Agreement shall operate as a transfer or licence to you of the same. You agree not to do anything to limit, interfere with, or otherwise jeopardise in any manner such rights, title and interest.

19.3 Beyon Money also retains ownership of all Beyon Money Intellectual Property Rights. In the case of third-party software delivered by Batelco to the Services, the applicable third party retains title to and ownership of its software, copyrights and trademarks.

19.4 Any attempt to disassemble,  decompile,  create  derivative  works  of,  reverse  engineer,  modify, sublicense,  reproduce,  copy,  distribute  or  use  for  other  purposes  either  the Services or its software is strictly prohibited.

 

  1. Miscellaneous

20.1 Beyon Money reserve the right to amend this Agreement any time. If Beyon Money do make any amendments it will inform you of such changes either by posting the changes on its website, on the App or by other means as Beyon Money sees fit. You agree that your continued use of the Service after any amendments to the Agreement shall be evidence of your intention to be bound by the Agreement as amended in accordance with this Clause 20.1.

20.2 Nothing in this Agreement creates a joint venture, partnership or any employment relationship between Beyon Money and you and nothing in this Agreement makes one party the agent of the other. Unless otherwise agreed in this Agreement, neither Party is authorized or empowered to act as agent for the other for any purpose and neither party may, on behalf of the other, enter into any contract, warranty or representation as to any matter.

20.3 You may not assign or otherwise dispose of any of your rights or obligations under this Agreement.  You agree that Beyon Money may assign their rights and obligations under this Agreement.

20.4 No failure of either party to exercise, and no delay by it in exercising, any right, power or remedy in connection with this Agreement (each a “Right”) shall operate as a waiver of that Right, nor shall any single or partial exercise of any Right preclude any other from further exercise of that Right or the exercise of any other Right.

20.5 If any provision in this Agreement shall be held to be illegal, invalid or unenforceable, in whole or in part, the provision shall apply with whatever deletion or modification is necessary so that the provision is legal, valid and enforceable and gives effect to the commercial intention of the Parties, and to the extent it is not possible to delete or modify the provision, in whole or in part, under this Clause then such provision or part of it shall, to the extent that it is illegal, invalid or unenforceable, be deemed not to form part of this Agreement and the legality, validity and enforceability of the remainder of this Agreement shall, subject to any deletion or modification made under this Clause not be affected.

20.6 Beyon Money will not be responsible for its failure to perform all or any of its duties arising under this Agreement in case of a Force Majeure Event.

20.7 Beyon Money reserves the right to modify, correct, amend, enhance, improve, make any other changes to, or discontinue, temporarily or permanently any of the Services (or any part thereof, including but not limited to the content)  with sufficient notice as per regulatory requirements, at any time. In addition, you hereby acknowledge that the content provided under the Services may be changed, extended in terms of content and form or removed at any time with sufficient notice as per regulatory requirements notice to you. You agree that we shall not be liable to you or to any third party for any modification, suspension, or discontinuance of the Services (or any part thereof). You hereby agree that we are not responsible for any errors or malfunctions that may occur in connection with the performance of such changes, modifications, enhacements or improvements.

20.8 Certain links provided on the App permit to  enter Partner websites or services. Those linked websites and services are provided solely as a convenience to you. These linked websites and services are not under the control of Beyon Money and we are not responsible for the availability of such external websites or services, and we do not endorse and are not responsible or liable for any content including but not limited to content advertising, products or other information on or available from such linked websites and services. In addition, Beyon Money is not responsible or liable for such linked sites and services’ privacy practices and/or any other practices. Your access to, use of and reliance upon any such sites, services and content and your dealings with such third parties are at your sole risk and expense. We reserve the right to terminate any link at any time. You further acknowledge and agree that we shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused, by or in connection with use of or reliance on any services, content, products or other materials available on or through such linked websites or resource.

20.9 This Agreement constitutes the entire agreement between you and us with respect to the subject of this Agreement and (to the extent permissible by law) supersedes all prior representations or oral or written agreements between you and us with respect to that subject matter, provided that neither of us is attempting to exclude any liability for fraudulent statements (including fraudulent pre-contractual misrepresentations on which the other Party can be shown to have relied).

20.9 The laws of the ADGM apply to this Agreement.  Both parties shall submit to  the exclusive jurisdiction of the ADGM Each party waives (and agrees not to raise) any objection, on the ground of forum non conveniens or on any other ground, to the taking of proceedings in the courts of the ADGM. Each party also agrees that a judgment against it in proceedings brought in the ADGM shall be conclusive and binding upon it and may be enforced in any other jurisdiction.

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