Terms and Conditions

・motto Fintex Limited (hereinafter called “GRANDPAY”) hereby stipulates the terms of its wallet service to its individual customers and corporate merchants.

・These Terms and Conditions should be read in conjunction with GRANDPAY Privacy Notice.

・You accept this Agreement by visiting our Website and/or using our Services (including downloading and using our App, or via the API, a social media platform or other authorised third party), you confirm that you accept and agree to this Agreement (including the Customer Updates and the additional documents referred to above).

“API” means the application programming interface provided by GRANDPAY.

“App” means the mobile application software, the data supplied with the software, and the associated media.

“Appstore provider or operator” refers to app stores like Google Play Store, Apple App Store, or any legitimate platform for downloading applications.

“Balance” means any amounts held in your GRANDPAY Account.

“GRANDPAY Account” means the account you have opened with us in accordance with the terms of this Agreement.

“Business Day” means a day other than a Saturday, Sunday, or a public holiday in the Philippines when financial institutions are open for business.

“Chargeback” refers to a cardholder charge via the GRANDPAY Service that is deemed invalid or non-collectible, often due to fraud or other issues.

“Merchant” means the individual or business entity that agrees to these terms and intends to use the GRANDPAY Service.

“Merchant’s eKYC” refers to the process of electronically verifying the identity of the merchant, typically for onboarding with our Wallet.

“E-money” or “electronic money” shall refer to an electronically-stored monetary value that is:

○ (1) maintained in a non-interest-bearing non-deposit transaction account;
○ (2) denominated in or pegged to Philippine Peso or other foreign currencies;
○ (3) pre-funded by customers to enable payment transactions;
○ (4) accepted as a means of payment by the issuer and by other persons or entities including merchants/sellers;
○ (5) issued against receipt of funds of an amount equal to the monetary value issued;
○ (6) represented by a claim on its issuer; and
○ (7) withdrawable in cash or cash equivalent or transferable to other accounts/instruments that are withdrawable in cash.

“Services” means all products, services, content, features, technologies, or functions offered by GRANDPAY, including the website, app, and API.

“Deposit” is when a GRANDPAY user adds money to their account via any available method.

“Verification Checks” refer to compliance checks required by the Anti-Money Laundering Act and other regulations for transactions made by GRANDPAY users.

1.1. You must be 18 years or over. If you are an individual, you must be 18 years or older to use our Services and by opening a GRANDPAY Account you declare that you are 18 years or older. We may ask you at any time to show proof of your age.

1.2. You must have authority to bind your business. If you are not acting in your personal capacity, rather, you areacting on behalf of a corporate entity, you confirm that you have authority to bind any business or entity on whose behalf you use our Services, and that business or entity accepts these terms and conditions, as well as GRANDPAY Privacy Notice.

1.3. Your use of the GRANDPAY Account must not violate any applicable laws. You commit to us that your act of opening and/or using of a GRANDPAY Account does not violate any laws applicable to you. You take responsibility for any consequences of your breach of this section.

2.1. App subject to this Agreement and the Appstore Rules. We license the use of the App to you on the basis of this Agreement and subject to any rules and policies applied by any appstore provider or operator whose sites are located at App Store and Google Play.

2.2. App updates. From time-to-time updates to the App may be issued through App Store or Google Play. Depending on the update, you may not be able to use our Services via the App until you have downloaded the latest version of the App and accepted any new terms and conditions, as well as other applicable policies.

2.3. Your right to use the App and the API. In consideration of you agreeing to abide by the terms of this Agreement, we grant you a non-transferable, non-exclusive licence to use the App on your device and the API subject to this Agreement. All other rights are reserved to GRANDPAY.

3.1. The main purpose of your GRANDPAY Account, if you are an individual, is for you to pay Merchants registered with GRANDPAY; if you are a merchant account holder, it is for you to receive bill payment collections from individual customers.

3.2. The electronic money held on your GRANDPAY Account will not earn any interest.

3.3. You may hold your electronic money in any currencies which we support, the list of applicable currencies is shown after login.

3.4. You may withdraw money from your GRANDPAY Account at any time subject to certain conditions. These conditions may be related to compliance and commercial issues which you have the right to ask our customer service at any time.

3.5. Certain limitations may be placed on your GRANDPAY Account depending on your country of residence, verification checks or other legal considerations.

3.6. The electronic money held on your GRANDPAY Account belongs to the person or legal entity which is registered as the GRANDPAY Account holder.

3.7. Unless you have our consent in writing, you must not allow anyone to operate your GRANDPAY Account on your behalf.

3.8. Your GRANDPAY Account is an electronic money account and is not a bank account, as licensed under the Authority of the Freeport Area of Bataan in the Philippines.

4.1. To start using our Services, you must open a GRANDPAY Account and provide your details as prompted. The registration process is done not only to identify our clients but also to verify compliance with the different requirements under Philippine law, including but not limited to Republic Act No. 9194, also known as “the Anti-Money Laundering Act of 2001,” and Republic Act No. 10168, known as “The Terrorism Financing Prevention and Suppression Act of 2012.”

4.2. Information must be accurate. All information you provide to us must be complete, accurate, and truthful at all times. You must update this information whenever it changes, as we cannot be responsible for any financial loss arising from your failure to do so. We may ask you at any time to confirm the accuracy of your information and/or provide additional supporting documents.

4.3. Transacting on your own account. All activities under a GRANDPAY Account shall be deemed as activities carried out by the registered user. You shall only use the Services to transact on your own account and not on behalf of any other person or entity.

4.4. One account per person or entity. You may only open one GRANDPAY Account unless we have agreed in writing to the opening of additional accounts. GRANDPAY may refuse the creation of duplicate accounts for the same user. Where duplicate accounts are detected, GRANDPAY may close or merge these duplicate accounts at its sole discretion.

6.1. Contact us if you suspect your GRANDPAY Account has been compromised.

6.2. If you suspect your GRANDPAY Account or other security credentials are stolen, lost, used without your authorization, or otherwise compromised, you must contact Customer Support immediately. You are also advised to change your password.

6.3. Any undue delays in notifying us may affect the security of your GRANDPAY Account and may result in you being responsible for financial losses.

・To deposit, you need to log in to your GRANDPAY Account and follow the steps as they appear on screen. We are not responsible for the money you have deposited until we have received them. You can check the deposit status upon logging in to your GRANDPAY.

　○ You may be presented with one or more methods of deposit for example, bank transfer, credit cards or debit cards.

　○ The number of deposit methods made available to you will depend on a number of factors including where you live and your verification status with us. Deposit Methods are not part of our Services, they are services provided by third parties, for example, the card provider which issued you with your credit/debit card. We cannot guarantee the use of any particular deposit method and may change or stop offering a deposit method at any time without notice to you.

　○ The Payment instrument must be in your name. Any payment instrument (for example, the credit card or debit card) you use with your chosen deposit method must be in your name.

　○ If you select a deposit method which gives you chargeback rights, you agree not to exercise your chargeback right for reasons which we are not responsible, including a dispute with your recipient or if there are insufficient funds in your payment instrument. If we need to investigate or take any actions in connection with a chargeback raised by you, we may charge you for our costs in doing so and may deduct such amount from your GRANDPAY Account or claim from you directly.

• Deposit limits on your GRANDPAY Account. For legal and security reasons, we impose limits on how much you can Deposit into your GRANDPAY Account. These limits will be accessible after logging into your GRANDPAY Account and may be subject to change at our sole discretion.

• When we will credit your GRANDPAY Account. We will credit your GRANDPAY Account once we have received your money. For some Pay in Methods such as credit or debit cards, we may have delayed crediting, or we will credit the money to your GRANDPAY Account as soon as possible subject to our right of reversal. This means if the actual amount you intended to Deposit does not reach us within a reasonable time, we may deduct such amount from your GRANDPAY Account. If you do not have enough money in your GRANDPAY Account for this purpose, we can demand repayment from you using other methods.

7.1. You must set up your payment instruction from your GRANDPAY Account.

7.2. To set up a payment instruction via your GRANDPAY Account, you select the relevant merchant within GRANDPAY to pay to.

7.3. Payment instruction limits. We may place limits on the amount you may send per transfer and who you can pay to.

7.4. In general, you are only allowed to pay to merchants registered with GRANDPAY.

○ You need to provide us with sufficient funds before we can process your payment instruction. We will only process your payment instruction if we hold or have received sufficient cleared funds in your GRANDPAY Account. It is your responsibility to fund your payment order in a timely manner. We cannot be responsible for the time it takes for the money to be sent to us by your bank or payment service provider.

○ Verification checks may increase the time for processing your payment order. We carry out verification checks, and these checks may increase the time it takes to process your payment order. We cannot be responsible for any delays as a result of carrying out those checks.

○ Beyond any verification checks, GRANDPAY will aim to honour your transaction same day, if the transaction is paying to an account holder of GRANDPAY.

○ We will use reasonable efforts to ensure funds arrive at your recipient’s account within the notified timeframe. We will use reasonable efforts to ensure that the funds arrive in the recipient’s bank account or payment account. We do not have any control over the time it may take for the recipient’s bank or payment provider to credit and make available funds to the recipient.

7.5. Refusal of your payment instruction. If we are unable to complete your payment order, we will let you know and, if possible, the reasons for the refusal and an explanation of how to correct any factual errors. However, we are not required to notify you if such notification would be unlawful.

7.6. You cannot cancel your payment instruction once your funds have been released.

7.7. You must ensure the information you provide to us is correct. You must make sure that the information you provide when setting up a payment order is accurate. If we have processed your order in accordance with the information you have provided to us it will be considered correctly completed even if you have made a mistake.

7.8. If you provide incorrect information with your payment order, we will use reasonable efforts to recover the funds for you, which may be subject to an additional fee. The computation of the fee will be clearly shown after logging into your GRANDPAY Account.

8.1. For individual customers, we generally do not allow receiving money for 3rd parties unless with written consent from GRANDPAY.

8.2. For merchants, you can receive money into your GRANDPAY Account from other individual customers who are GRANDPAY customers. You can receive money into your GRANDPAY Account using methods which are supported at that moment. The list of methods is clearly outlined in the App upon the login.

8.3. The money received is shown in your GRANDPAY Account. Any money you receive into your GRANDPAY Account will be recorded in the transaction history section of your GRANDPAY Account. You should check the incoming funds in your GRANDPAY Account against your own records regularly and let us know if there are any irregularities.

8.4. The money received may be subject to reversal. You acknowledge that the money received in your GRANDPAY Account ("Received Amount") may be subject to reversal and you agree that we may deduct the Received Amount from your GRANDPAY Account if it was reversed by the person who paid you the Received Amount.
Receiving money from GRANDPAY Individual customers normally is same-day. You hold GRANDPAY free and harmless from any responsibilities arising from settlement delays or verification check delays.

9.1. You can request to withdraw your money. After you log in to your GRANDPAY Account, you may request all or part of your money held in your GRANDPAY Account to be withdrawn.

9.2. We will charge you a fee for each withdrawal request, we will let you know the exact amount when you submit your request. The computation of the fee will be clearly shown after logging into your GRANDPAY Account.

9.3. Payout Methods available to you. You may be presented with one or more methods of withdrawal.

9.4. The number of Payout Methods made available to you will depend on a number of factors including where you live and your verification status with us. We cannot guarantee the use of any particular Payout Method and may change or stop offering a Payout Method at any time without notice to you, but we will ensure that you will always have at least one Payout Method available to you.

9.5. Payout Methods are not part of our Services. Payout Methods are not part of our Services, they are services provided by third parties for example the bank where you hold your bank account. For the purposes of a withdrawal transaction, we are a payer and not a payment service provider.

9.6. You must provide correct information to us. When setting up your withdrawal request, you must ensure that the information you provide is correct and complete. We will not be responsible for money sent to the wrong recipient as a result of incorrect information provided by you. If you have provided wrong information to us, you may ask us to assist you in recovering the money, but we cannot guarantee that such efforts will be successful.

9.7. Your withdrawal request is subject to limits. You agree that your GRANDPAY Account is subject to withdrawal limits. If your withdrawal request exceeds the current limit, we may decline your request and require you to provide additional documents to us so that we can carry out additional checks before allowing the money to be withdrawn. Your withdrawal limits are clearly shown after logging into your GRANDPAY Account.

10.1. You must pay our fees. You must pay the fees in connection with the use of our Services. We will not process your transaction until we have received the fees from you.

10.2. We will let you know the exact amount payable by you when you set up your payment instruction or withdrawal instruction. This will be further explained after logging into your GRANDPAY Account.

10.3. We can make deductions from your GRANDPAY Account. You agree that we are authorised to deduct our fees, any applicable reversal amounts, and/or any amounts you owe us from your GRANDPAY Account. If you don’t have enough money in your GRANDPAY Account to cover these amounts, we may refuse to execute the relevant transaction or provide any Services to you.

11.1. Damage and Loss

○ If we do not reasonably meet our commitments to you, we are responsible for loss or damage you suffer that is a foreseeable result of our breaking this contract or our failing to use reasonable care and skill.

○ We are not responsible for any loss or damage that is not foreseeable. Loss or damage is foreseeable if either it is obvious that it will happen or if, at the time the contract was made, both we and you knew it might happen.

○ GRANDPAY ASSUMES NO LIABILITY FOR DISRUPTIONS OR IMPROPER OPERATION OF THE SERVICE FOR ANY REASON, INCLUDING, BUT NOT LIMITED TO, VANDALISM, THEFT, ACTIONS OR THIRD-PARTY SERVICE PROVIDERS, PHONE SERVICE OUTAGES, INTERNET DISRUPTIONS, EXTREME OR SEVERE WEATHER CONDITIONS OR ANY OTHER CAUSES IN THE NATURE OF “ACTS OF GOD” OR FORCE MAJEURE. GRANDPAY SHALL NOT BE RESPONSIBLE FOR ANY SPECIAL, INCIDENTAL, INDIRECT OR CONSEQUENTIAL DAMAGES INCLUDING ANY LOSS OF PROFIT, REVENUE, SOFTWARE OR DATA, EVEN IF GRANDPAY IS ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

○ IN NO CASE SHALL MERCHANT BE ENTITLED TO RECOVER DAMAGES FROM GRANDPAY WHICH EXCEED THE SUM OF AMOUNTS OF FEES RETAINED BY GRANDPAY UNDER THIS AGREEMENT DURING THE ONE MONTH PRIOR TO THE EVENT GIVING RISE TO THE CLAIM FOR DAMAGES.

○ We do not exclude or limit in any way our liability to you where it would be unlawful to do so. This includes liability for death or personal injury caused by our negligence or the negligence of our employees, agents or subcontractors; for fraud or fraudulent misrepresentation.

○ We are not liable for business losses. If you use our Services for any commercial or business purpose we will have no liability to you for any loss of profit, loss of business, business interruption, or loss of business opportunity.

11.2. Technology Attack or Cyber Attack

○ We are not liable for technological attacks. We will not be liable for any loss or damage caused by a virus, or other technological attacks or harmful material that may infect your computer equipment, computer programmes, data or other proprietary material related to your use of our Services.

○ We have no control over websites linked to and from our Website. We assume no responsibility for their content or any loss or damage that may arise from your use of them.

○ We are not liable for any losses due to cyber-attack or compromise at your side.

11.3. Our liability to you for unauthorised payments or our mistake. In case of an unauthorised payment or mistake due to our error, we shall, upon being notified of the same, immediately refund the payment amount including all fees deducted by us. This shall not apply:

○ if you have acted fraudulently, in which case we will not refund you in any circumstances;

○ if you do not notify us within one (1) day of any security issues on your GRANDPAY Account (e.g. loss of your password), you remain liable for losses incurred up to your notification to us;

○ if the payment transaction was authorised but you have compromised the security of your GRANDPAY Account or failed to comply with your obligations to use your GRANDPAY account in the manner set out in this Agreement, either intentionally or due to gross negligence, you shall be solely liable for all losses.

11.4. We are not liable for things that are outside of our control. We (and our affiliates) cannot be liable for our inability to deliver or delay as a result of things that are outside our control.

11.5. You are liable for breaking this Agreement or applicable laws. In the event of loss, claims, costs or expenses (including reasonable legal fees) arising out of your breach of this Agreement, any applicable law or regulation and/or your, or any authorised third parties’, use of our Services, you agree to defend, compensate us and our affiliates and hold us harmless. The effect of this provision will continue after the termination of the relationship of the parties, for whatever reason.

11.6. Service Availability

○ We will try to make sure our Services are available to you when you need them. However, we do not guarantee that our Services will always be available or be uninterrupted.

○ We may suspend, withdraw, discontinue, or change all or any part of our Service without notice. We will not be liable to you if for any reason our Services are unavailable at any time or for any period.

○ You are responsible for making all arrangements necessary for you to have access to our Services. If you have granted permission to a third party to access your account, we may refuse access to that third party if we are concerned about unauthorised or fraudulent access by that third party.

○ We will give you notice if we refuse access to your account, either before or immediately after we refuse access, unless notifying you would be unlawful or compromise our reasonable security measures.

12.1. Customer Due Diligence

○ GRANDPAY is required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction for example, your recipient) in order to provide any Services to you.

○ You agree to comply with any request from us for further information and provide such information in a format acceptable to us.

○ In addition, you agree that we may make, directly or through any third party, any inquiries we consider necessary to validate the information you provided to us, including checking commercial databases or credit reports.

○ You authorise us to obtain one or more of your credit reports, from time to time, to establish, update, or renew your GRANDPAY Account with us or in the event of a dispute relating to this Agreement and activity under your GRANDPAY Account./p>

12.2. Intellectual Property

○ While you are using our Services, you may use the GRANDPAY Materials only for your personal use (for individual customers) and only for your sole business use (for Merchant) and solely as necessary in relation to those Services.

○ "GRANDPAY Materials" include any software (including without limitation the App, the API, developer tools, sample source code, and code libraries), data, materials, content and printed and electronic documentation (including any specifications and integration guides) developed and provided by us or our affiliates to you, or available for download from our Website. You may not, and may not attempt to, directly or indirectly:

・ transfer, sublicense, loan, sell, assign, lease, rent, distribute or grant rights in the Service or the GRANDPAY Materials to any person or entity;
・ remove, obscure, or alter any notice of any of our trade marks, or other "intellectual property" appearing on or contained within the Services or on any GRANDPAY Materials;
・ modify, copy, tamper with or otherwise create derivative works of any software included in the GRANDPAY Materials; or
・ reverse engineer, disassemble, or decompile the GRANDPAY Materials or the Services or apply any other process or procedure to derive the source code of any software included in the GRANDPAY Materials or as part of the Services.

12.3. Information security

○ You are responsible for configuring your information technology, computer programmes and platform in order to access our Services. You should use your own virus protection software. We cannot guarantee that our Services will be free from bugs or viruses.

○ You must not misuse our Services. You must not misuse our Services by introducing viruses, trojans, worms, logic bombs or other materials which are malicious or technologically harmful. You must not attempt to gain unauthorised access to our Website, our servers, computers or databases.

○ You must not attack our Website with any type of denial of service attack.

○ By breaching this provision, you would commit a criminal offence. We will report any such breach to the relevant law enforcement authorities and we will co-operate with those authorities by disclosing your identity to them. In the event of such a breach, your right to use our Website and/or our Services will cease immediately.

13.1. You closing our GRANDPAY Account

○ You may close your GRANDPAY Account at any time. You may end this Agreement and close your GRANDPAY Account at any time by contacting our Customer Support.

○ You should withdraw your money within a reasonable time. At the time of closure, if you still have money in your GRANDPAY Account, you must withdraw your money within a reasonable period of time. After a reasonable period of time, you will no longer have access to your GRANDPAY Account, but you can still withdraw your money by contacting Customer Support. You have the right to do this for a period of 7 years from the date your GRANDPAY Account is closed.

○ You must not close your GRANDPAY Account to avoid a criminal, administrative, civil or any similar investigation initiated by the state or its actors against you. If you attempt to close your GRANDPAY Account during an investigation, we may hold your money until the investigation is fully completed in order to protect our or a third party’s interest.

○ You are responsible for your GRANDPAY Account after closure. You agree that you will continue to be responsible for all obligations related to your GRANDPAY Account even after it is closed.

13.2. GRANDPAY terminating your account

○ We may end this Agreement and close your GRANDPAY Account or any service associated with it by giving you one months’ prior notice for any or no reason whatsoever.

○ We may suspend or close your GRANDPAY Account and/or end this Agreement at any time without notice.

○ We may suspend your GRANDPAY Account for security reasons at any time. We may suspend your GRANDPAY Account or restrict its functionality if we have reasonable concerns about the security of your GRANDPAY Account; or suspected unauthorised or fraudulent use of your GRANDPAY Account.

13.3. You cannot use the App if this Agreement ends. On termination for any reason all rights granted to you in connection with the App shall cease, you must immediately delete or remove the App from your devices.

14.1. We may change this Agreement by giving you at least one (1) months’ prior written notice. If we do this, you can terminate this Agreement immediately by providing written notice to us during the notice period. If we do not hear from you during the notice period, your privilege to use our services will be temporarily suspended until we receive a response from you.

14.2. We usually contact you via email. For this purpose, you must at all times maintain at least one valid email address in your GRANDPAY Account profile. You should check for incoming messages regularly and frequently, these emails may contain links to further communication on our Website. If you don’t maintain or check your email and other methods of communications, you will miss emails about your transactions and our Services. We cannot be liable for any consequence or loss if you don’t do this.

14.3. If we have reasonable concerns either about the security of your GRANDPAY Account, or any suspected or actual fraudulent use of your GRANDPAY Account, we will contact you via telephone, email, or both (unless contacting you would be unlawful or compromise our reasonable security measures).

・We may transfer this Agreement to someone else. You may not transfer, assign, mortgage, charge, subcontract, declare a trust over or deal in any other manner with any or all of your rights and obligations under this Agreement (including the GRANDPAY Account) without our prior written consent. We reserve the right to transfer, assign, or novate this Agreement (including the GRANDPAY Account) or any right or obligation under this Agreement at any time with prior written notice, to which you hereby give your express consent.

・If a court finds part of this Agreement illegal, the rest will continue in force. Each of the paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining paragraphs will remain in full force and effect.

・Even if we delay in enforcing this Agreement, we can still enforce it later. If we delay in asking you to do certain things or in taking action, it will not prevent us taking steps against you at a later date.

・Which laws apply to this Agreement and where you may bring legal proceedings. This Agreement is governed by the laws of the Republic of the Philippines, such as but not limited to Republic Act No. 9194, otherwise known as “the Anti-Money Laundering Act of 2001” and Republic Act No. 10168, otherwise known as “The Terrorism Financing Prevention and Suppression Act of 2012”. Any dispute between you and us in connection your GRANDPAY Account and/or this Agreement may be brought in the courts of the Republic of the Philippines.