This Part K only applies to a QR code-based payment service through the App (“Scan to Pay Services”).
81. SCAN TO PAY SERVICES
81.1 The Group may, from time to time and at its sole discretion, make available a QR code-based payment service through the App (“Scan to Pay Services”), which enables you to scan QR codes, including national or local interoperable QR code standards (as may be supported from time to time) (“Supported QR Standards”), to initiate payments to Merchants, payees and other recipients who accept payments through such Supported QR Standards (each, a “Scan to Pay Transaction”) in certain jurisdictions as shown in the App. The Scan to Pay Services are provided in conjunction with one or more Third Party Service Providers operating as local payment service providers in the applicable operating jurisdiction (each, a “Local PSP”) that facilitate payment processing, foreign exchange conversion and settlement of the relevant fiat currency to the Merchants through applicable cooperation channels. You must have completed KYC verification and granted camera permissions before using the Scan to Pay Services.
81.2 By using the Scan to Pay Services, you authorise the Group, acting as your agent or in such other capacity as it may determine, to debit the corresponding amount of Acceptable Tokens, fiat currencies or other assets required to fund your Scan to Pay Transaction from your Account (including the Custodian Account(s), the Self-custody Wallet (subject to the Smart Contract Vault), the Virtual Account, and/or any linked third-party payment account) and to transfer the proceeds to the relevant Local PSP, which will act in the capacity of commissioner or agent of the Merchants to receive the payment for the account of such Merchants. You further authorise the Group to convert (where applicable) the Settlement Assets into any Acceptable Tokens, fiat currencies or other Converted Assets at the discretion of the Group, with reference to the prevailing market exchange rate at the time of such conversion as may be applied at the discretion of the Group, and to apply the relevant Converted Assets for the settlement of the Scan to Pay Transaction.
81.3 Settlement of fiat currency to the Merchant in respect of a Scan to Pay Transaction is performed solely by the relevant Local PSP or its authorised local partners under applicable local financial regulations in the operating jurisdiction. The Group does not directly settle fiat currency to the Merchants. You acknowledge and accept that settlement by the Local PSP is subject to the rules, procedures, processing times and limitations of the applicable national or local QR interoperability system and the relevant local payment rails (including, where applicable, real-time gross settlement systems, instant payment systems or other domestic payment infrastructures).
81.4 In order to manage risks, the Group may limit the Acceptable Tokens, fiat currencies or other assets available for a Scan to Pay Transaction, and may restrict or refuse, in its sole and absolute discretion, the provision of the Scan to Pay Services in certain countries, regions or jurisdictions at any time without notice, including but not limited to situations where such restrictions are required to ensure compliance with Applicable Laws, foreign exchange controls or the requirements of any applicable national QR interoperability system.
81.5 The Scan to Pay Services may be subject to applicable minimum and maximum spending and transaction limits (“Scan to Pay Limits”), which may include per-transaction limits, daily limits, monthly limits and such other limits as the Group may determine. The applicable Scan to Pay Limits may vary depending on your verification status, jurisdiction, operating currency and risk assessment policies. The specific thresholds, caps and any related conditions will be set out on the App or the Site and may be updated from time to time at the Group’s sole discretion. You are responsible for reviewing the most recent Scan to Pay Limits prior to initiating any Scan to Pay Transaction. Scan to Pay Transactions in violation of any applicable Scan to Pay Limit will be rejected by the Group. You must not initiate any Scan to Pay Transaction that exceeds any Scan to Pay Limit applicable to you.
81.6 Fees: Certain fees may apply when you use the Scan to Pay Services. Such fees may include, without limitation, a foreign exchange fee, a handling fee, a spread or other charges as the Group may determine. The applicable fees will be set out in the prevailing relevant fee schedules, the App and/or the Site, and may be adjusted by the Group from time to time at its sole discretion. By authorising a Scan to Pay Transaction, you expressly authorise the Group to automatically deduct fees and any applicable third-party or compulsory charges directly from the funds available in your Account. For the avoidance of doubt, the Group’s fee schedules do not include any additional fees charged by and payable to the Local PSP or governmental authorities, including but not limited to network charges, taxes and foreign exchange costs, which may be imposed separately.
81.7 Conversion: A Scan to Pay Transaction may involve the conversion of your Acceptable Tokens, or other Digital Assets into the local fiat currency of the operating jurisdiction. Any such conversion will be effected at the prevailing market exchange rate as may be applied at the discretion of the Group at the time of the Scan to Pay Transaction, which rate may include a spread or mark-up. The Group does not guarantee any particular exchange rate, price or outcome for any conversion. You acknowledge that exchange rate fluctuations may affect the value of your Digital Assets and the final amount of the Scan to Pay Transaction.
81.8 Refunds, Failed Transactions and Unauthorised Transactions:
(a) You understand and agree that, once the Local PSP has returned a “success” status (even if the transaction remains pending with the Merchant), the Scan to Pay Transaction is deemed successful on the App and is final and irrevocable. The Group shall not be obliged to process or arrange any refund, reversal or chargeback in respect of a successfully completed Scan to Pay Transaction. Successful transactions are non-refundable. Any complaints, claims, disputes or requests for refunds in relation to goods and/or services provided by and purchased from a merchant using the Scan to Pay Services shall be resolved directly between you and the relevant merchant, and the Group shall not be responsible for any such refunds.
(b) In the event that a Scan to Pay Transaction fails to complete due to a failure, error, or rejection by the Local PSP, the applicable national QR interoperability system or any other technical or operational reason after your Account has been debited, the Group will use reasonable endeavours to process a refund of the debited amount to your Account. Any such refund may be denominated in Acceptable Tokens as the Group may determine or such other Digital Asset or currency as the Group may determine in its sole discretion, and will be credited to your Account within a reasonable period (which may vary depending on the circumstances of the failure). The Group does not guarantee the timing or currency denomination of any refund.
(c) In the event that a Scan to Pay Transaction is processing and the Group has not received a final success or failure status from the Local PSP within a reasonable period, you will be notified via the App and you are advised to confirm the transaction result directly with the relevant Merchants.
(d) If a Scan to Pay transaction is executed without your valid authorisation, the Group will procure relevant Local PSP to refund you and restore your Account to the position it held immediately before the transaction. You will be liable for losses arising from an unauthorised Scan to Pay transaction where the transaction results from the loss, theft, or misappropriation of your credentials, provided that the loss was detectable by you before the transaction and was not caused by the acts or omissions of the Group, the Local PSP, their employees, or representatives.
81.9 Disputes: You acknowledge and agree that the dispute resolution mechanisms applicable to Card Transactions (including the Chargeback provisions under the relevant Card Network Rules) do not apply to Scan to Pay Transactions, as Scan to Pay Transactions are processed through national or local QR interoperability systems and local payment rails operated by the relevant Local PSP and are not routed through any Card Network. In the event of any dispute arising out of or in connection with a Scan to Pay Transaction, you shall first raise the dispute directly with the relevant Merchants. The Group may, at its sole discretion and without any obligation, assist you in liaising with the relevant Local PSP to investigate and seek resolution of the dispute. The Group reserves the right to investigate any disputed Scan to Pay Transaction and you agree to assist and cooperate by providing the Group with any additional information and/or documentation. The decisions of the Group on all matters relating to or in connection with any disputed Scan to Pay Transaction are final and conclusive and binding on you, subject to the dispute resolution procedures in these Terms.
81.10 The Scan to Pay Services are intended solely for bona fide payments to third-party Merchants and must not be used to initiate or attempt any transaction in which the payer and the payee are the same person or entity, or are determined by the Group to be linked through common ownership, control, account access, or beneficial interest (each, a “Send-to-Self Transaction”). The Group reserves the right, in its sole discretion and as part of its risk management, compliance, and fraud prevention measures, to identify, monitor, reject, decline, suspend, block, reverse, or otherwise restrict any Scan to Pay Transaction that it determines, or reasonably suspects, to constitute a Send-to-Self Transaction. The Group’s determination of whether a Scan to Pay Transaction constitutes a Send-to-Self Transaction shall be final and binding.
81.11 Use of the Scan to Pay Services in a foreign jurisdiction is subject to applicable local laws and foreign exchange controls, and acceptance by the relevant Local PSP and the applicable national QR interoperability systems. The Group reserves the right to suspend, restrict, or terminate the Scan to Pay Services in any jurisdiction (in whole or in part) at any time for regulatory, technical, or risk management reasons, without liability to you.
81.12 You are responsible for ensuring the accuracy of the information contained in or derived from any QR code scanned through the App, including the Merchants’ identity, payment amount and any other transaction details. The Group shall not be liable to you in respect of any losses, damages or liabilities incurred as a result of any inaccurate, invalid, expired, tampered or otherwise defective QR code, or any error in the information entered by you when initiating a Scan to Pay Transaction.
81.13 The Group may vary any of these Terms applicable to the Scan to Pay Services (including a change to any terms affecting any fees or charges, or your liabilities or obligations applicable to the Scan to Pay Services) at any time by reasonable prior notice permitted under the Applicable Laws, without giving reasons. The Group will notify you of a variation through its designated communication channels or in any other manner that it considers appropriate. If you continue to use the Scan to Pay Services prior to the effective date of a variation, you will be bound by such variation accordingly.
81.14 You acknowledge and accept the following risks associated with the Scan to Pay Services:
(a) exchange rate risk: the value of the Acceptable Tokens, or other Digital Assets used to fund a Scan to Pay Transaction may fluctuate, and the amount debited from your Account may differ from the final settlement amount due to exchange rate movements;
(b) settlement risk: settlement of a Scan to Pay Transaction to the Merchants is dependent on the Local PSP and the relevant local payment infrastructure, and may be subject to delays, failures or interruptions;
(c) operational risk: the Scan to Pay Services are dependent on the availability, functionality and accuracy of the QR codes, the App, the Local PSP’s systems and the relevant national QR interoperability systems, any of which may be subject to errors, downtime or disruption; and
(d) regulatory risk: the availability and terms of the Scan to Pay Services may be affected by changes in Applicable Laws, regulations or policies of any governmental or regulatory authority in the operating jurisdiction.
