Terms of Service

ADDITIONAL TERMS AND CONDITIONS FOR MERCHANT ONBOARDING USING PAYNOW PAYMENT CHANNEL

The Merchant hereby acknowledges and agrees that by entering into a contract/commercial agreement with Fiuu, the Merchant has undertaken the necessary risk assessment to mitigate any potential risks that may emerge in relation to the contract/commercial arrangement entered into with Fiuu. For the avoidance of doubt, the specific terms and conditions below shall be read together with the Agreement.

Definitions

The following terms are defined for use in this Agreement, unless the context otherwise requires:

1. PayNow QR Service

1. 1.1 Merchant is responsible for ensuring that the transaction amount keyed in or displayed is correct prior to confirming thetransaction. The transaction amount keyed in or displayed via the QR Code shall be deemed by the PayNow Operator to be correct upon the Merchant’s confirmation of the transaction. Fiuu and the PayNow Operator are under no obligation to verify that the amount received by the Merchant matches the intended transaction amount
2. 1.2 The PayNow Operator or relevant Participating Bank will notify the Merchant on the status of each successful, failed or rejected PayNow QR transaction via any of the available communication channels.
3. 1.3 Merchant acknowledges and agrees that the PayNow Operator shall have no duty to verify or confirm whether a PayNow QR transaction is initiated by the intended or genuine party.
4. 1.4 Pursuant to Clause 1.3 above, Merchant agrees that once a PayNow QR transaction is confirmed, it shall be deemed irrevocable and the Merchant will not be able to cancel, stop, or make any changes to that PayNow QR transaction.
5. 1.5 The Merchant may use either Static QR or Dynamic QR codes provided by Fiuu, subject to PayNow specifications and system availability. Fiuu shall not be responsible for any incorrect amounts keyed in by the Payer for Static QR transactions.
6. 1.6 The Merchant shall ensure that all payload data provided to Fiuu for the generation of PayNow QR Codes complies with any specifications issued by the PayNow Operator and/or Participating Bank. The Merchant shall remain responsible for the accuracy and completeness of the payload data submitted to Fiuu. 
7. 1.7 The Merchant is responsible for monitoring all incoming PayNow payments and reconciling such transactions accordingly.

2. Recovery of Funds

2.1 Merchant has rights in relation to the investigation and recovery of mistaken payments, erroneous payments and unauthorized or fraudulent PayNow QR transactions made to the Merchant’s account.

3. Unauthorized or Fraudulent PayNow QR Transaction

1. 3.1 For PayNow QR transactions which were not authorized by the Merchant or which are fraudulent, Fiuu (on instruction from the PayNow Operator or PayNow Service Provider) may initiate a recovery process subject to the following:
   1. 3.1.1 The relevant PayNow Service Provider and/or PayNow Operator shall conduct an investigation and determine within a reasonable time if the unauthorized or fraudulent payment occurred.
   2. 3.1.2 If the unauthorized or fraudulent payment instruction is confirmed and found to be caused by or attributable to the Merchant, the Merchant shall cooperate with Fiuu and/or the PayNow Service Provider to return the affected funds in accordance with applicable procedures.
   3. 3.1.3 The Merchant shall provide any requested documentation or assistance reasonably required by Fiuu or the PayNow Service Provider in relation to such investigations. 

4. Liability and Indemnity

1. 4.1 Merchant acknowledges and agrees that, unless expressly prohibited by mandatory laws, the PayNow Operator, PayNow Service Provider, and/or Fiuu shall not be liable to the Merchant or any third party for any direct, indirect, or consequential losses, liabilities, costs, damages, claims, actions or proceedings of any kind whatsoever in connection with the PayNow QR service arising from:
   1. 4.1.1 Merchant’s negligence, misconduct, or breach of this Schedule;
   2. 4.1.2 Insufficient funds in the Merchant’s account for the PayNow Service Provider to complete a transaction;
   3. 4.1.3 Merchant exceeding its daily transaction limits; 
   4. 4.1.4 Any payment instruction given or purportedly given by the Merchant;
   5. 4.1.5 Any erroneous transfer of funds by the Merchant, including transfer to the wrong party;
   6. 4.1.5 Suspension, termination, or discontinuance of the PayNow QR Service

• 4.2 Merchant shall indemnify and hold the PayNow Operator, PayNow Service Provider, Fiuu, and their affiliates harmless from any loss or damage arising from any claim, demand, or action resulting from any negligent or fraudulent act by the Merchant.

5. De-Registration of PayNow Access

• 5.1 The Merchant may request de-registration from the PayNow QR Service at any time by providing written notice to Fiuu.
• 5.2 PayNow Service Provider reserves the right to de-register the Merchant from the PayNow QR Service without notice in the event:
  1. 5.1.1 Fiuu suspects fraudulent, illegal, or prohibited use of the PayNow QR Service;
  2. 5.1.2 Any directive is received from the PayNow Operator or Participating Bank;
  3. 5.1.3 The Merchant ceases to use or is suspended from other Fiuu Payment Channels; or
  4. 5.1.4 Upon termination of this Agreement or discontinuance of the PayNow QR Service by Fiuu. 
• 5.3 Upon de-registration, the Merchant must immediately cease using any PayNow-related QR Codes, remove all PayNow branding, and inform its customers that PayNow is no longer accepted as a payment method.

6. General

• 6.1 The PayNow Operator or Fiuu reserves the right to revise any charges for use of the PayNow QR Service by providing the Merchant thirty (30) days’ written notice. Continued use of the service shall be deemed acceptance of such revisions.
• 6.2 The Merchant acknowledges that the PayNow Operator or PayNow Service Provider may terminate the Merchant’s access to the PayNow QR Service at any time with prior notice.
• 6.3 The Merchant acknowledges that Fiuu and/or the PayNow Operator may revise this Schedule by providing the Merchant thirty (30) days’ written notice in such manner as deemed fit.
• 6.4 The Merchant consents to the collection, use and disclosure of its business and contact details by Fiuu, the PayNow Operator, PayNow Service Provider, and their affiliates and service providers for the purpose of enabling and supporting the PayNow QR Service.
• 6.5 The Merchant shall not use any PayNow, UOB, or bank-related branding, logos, trade names, or marks without Fiuu’s prior written consent. Misuse of any intellectual property belonging to Fiuu, UOB, or the PayNow Operator may result in immediate termination.
• 6.6 The Merchant shall retain full and accurate records of all transactions conducted through the PayNow QR Service for a period of not less than five (5) years,from the date of each transaction and shall provide such records to Fiuu upon request.
• 6.7 The Merchant shall be solely responsible for ensuring compliance with any applicable tax laws, including any obligation to charge or report Goods and Services Tax (GST) in connection with payments received via the PayNow QR Service.
• 6.8 The Merchant shall use the PayNow QR Payment Channel solely for the receipt of payments for goods and/or services offered in the ordinary course of its business. The Merchant shall not use the service to facilitate personal transfers, remittance activity, or engage in any form of prohibited or illegal use.
• 6.9 The Merchant shall not use the PayNow QR Payment Channel for any improper purpose, including but not limited to data harvesting, use on tampered or rooted devices, or for purposes in violation of any applicable laws or regulations. Fiuu may suspend or terminate access upon any suspected misuse.
• 6.10 Any disputes between the Merchant and its customers arising from a PayNow QR transaction (including delivery issues, refund requests, or service complaints) shall be resolved directly between the Merchant and the customer. Fiuu, the PayNow Operator, and the PayNow Service Provider shall not be involved or liable in respect of any such dispute.
• 6.11 Upon termination of the Merchant’s access to PayNow, the Merchant shall immediately cease using all PayNow-related QR Codes, remove any reference to PayNow from its website or physical premises, and notify its customers that it no longer accepts PayNow QR payments.