Last Update: March 18 2020
You will be notified of any changes to these Terms via email, the App, or through another medium of using the ToTok Pay Services. Your continued use of the ToTok Pay Services will be deemed acceptance of the updated Terms. If you do not accept the updated Terms, you are no longer permitted to use the ToTok Pay Services and should cease using the ToTok Pay Services immediately.
1.1ToTok Pay’s Services. With respect to the ToTok Pay Services, ToTok Pay provides Users with the ability to make and secure peer-to-peer payments to and from other users by creating, hosting, maintaining and providing our ToTok Pay Services to you. Subject to this, the ToTok Pay Services allow you to:
A payment may be sent from either your ToTok Pay Account balance or from your credit card account(s) which have been linked to your ToTok Pay Account.
We do not have any control over, and are not responsible or liable for, the products or services that you purchase using ToTok Pay Services. We cannot ensure that the other party you are dealing with will actually complete the transaction.
ToTok Pay is not a common carrier or public utility.
1.2Eligibility. By using the ToTok Pay Services, you acknowledge that you: (i) are at least 18 years old or higher based on the age of majority in the user’s jurisdiction, notwithstanding the age requirement to use ToTok; and (ii) a resident of The United Arab Emirates. Any User under the age of majority in its jurisdiction must have parental/guardian permission prior to using ToTok Pay Services. We reserve the right to ask for proof of age and evidence to verify your identity at any time.
You acknowledge that ToTok Pay allows the execution of transactions in The United Arab Emirates only and that Value Added Tax (VAT) may be chargeable on sales and purchases of products and services you make using ToTok Pay Services.
1.3Information. In order to open and maintain an Account, you must provide us with correct and up to date Information. We will also use certain of the Information you have provided us through your use of the App. For more details on how we collect, use and otherwise process your Information, please see ToTok Pay Privacy Statement.
Identity Verification. In addition to these inquiries we are required to make by law, you acknowledge that ToTok Pay may, directly or through third parties, make any inquiries we consider necessary to validate your identity. This may include asking you for further information or documentation, requiring you to provide a taxpayer or national identification number, requiring you to take steps to confirm ownership of your phone number (including mobile phone number), email address or financial instruments, ordering a credit report or verifying your Information against third party databases or through other sources. You agree to co-operate fully with ToTok Pay with respect to verifying your identity.
Updates to Information. If your debit card or credit card number or expiration date changes, we may update it without any action on your part and we may acquire such updated information from a third party including our financial services partner, the card networks, and your bank or card issuer. If you do not want us to update your card information, you may contact your issuer to request this or remove your Payment Method from your ToTok Pay Account. If we update your Payment Method, we will keep any preference setting attached to such Payment Method.
1.4Beneficial Owner. You must be the beneficial owner of the Account, and conduct business only on behalf of yourself.
2.1Account and Sending Limits. We may, at our discretion, impose limits on the amount of funds in your Account and the value of any payments you can send and receive through the ToTok Pay Services. You can view your sending limit, if any, by logging into your Account. If you have a Verified Account, we may increase your sending limits.
2.2Default Payment Methods. When you make a payment, if you have not selected a Preferred Payment Method, ToTok Pay will fund your transaction in this order (subject to availability based on your Payment Methods and country/region of registration):
In certain countries, you may be able nominate a Preferred Payment Method in your Account Profile or select a Preferred Payment Method each time you make a payment, except for a Preapproved Payment.
ToTok Pay may limit the Payment Methods available for a transaction. Some Payment Methods may not be available in certain circumstances, including:
If the Preferred Payment Method fails (for example, a credit card or debit card expires) and your ToTok Pay account cannot complete a transaction, it may be used again to try to complete the transaction. If the Preferred Payment Method in your ToTok Pay account cannot complete a transaction after repeated attempts, each of the other payment methods available in your ToTok Pay account may be used to try to complete the transaction.
2.3Cards as Payment Methods. By adding a debit card or credit card as a Payment Method, you are providing ToTok Pay with continuous authority to automatically charge that card to obtain the relevant funds when the card is used as a Payment Method pursuant to these Terms (including Add Money to your ToTok Pay Account). You can stop the continuous authority in respect of any card by removing that card as a Payment Method in your Account Profile.
2.4Preferred Payment Method. You may select a Preferred Payment Method each time you make a payment.
2.5Refused and Refunded Payments. When you send a payment, the recipient is not required to accept it. Any unclaimed, refunded or denied payment will be returned to your balance or to your original Payment Method. We will return any unclaimed payment to you within 45 Days of the date you initiated the payment.
When you send a payment online using ToTok Pay and the transaction is ultimately refunded, the money will be refunded to the original payment method you used for the transaction if you used a debit card, credit card or ToTok Pay balance. If you used a bank account as the payment method for the transaction, we will refund the money to your bank account, or to your ToTok Pay balance if we cannot refund it to your bank account.
2.6Merchant Processing Delay. When you send a payment to certain Merchants, you are providing an authorization to the Merchant to process your payment and complete the transaction. The payment will be held as pending until the Merchant processes your payment. Some Merchants may delay processing your payment. In such an instance, your authorization will remain valid for up to 30 Days. If your payment requires a currency conversion, the exchange rate will be determined at the time the Merchant processes your payment and completes the transaction.
If you hold a balance on your Account, ToTok Pay will hold your funds in pooled accounts held with a licensed bank which are separate from its corporate funds, and it will not use your funds for its operating expenses or for any other corporate purposes. ToTok Pay will not voluntarily make your funds available to its creditors in the event of bankruptcy. You will not receive interest or other earnings on the amounts in your balance. ToTok Pay may receive interest on amounts that ToTok Pay holds on your behalf. You agree to assign your rights to ToTok Pay for any interest derived from your funds.
4.1How to Close Your Account. You may close your Account at any time by following the instructions in your Account Profile. Upon Account closure, we will cancel any pending transactions and you will forfeit any balances associated with Redemption Codes, unless otherwise legally prohibited. You must withdraw your balance prior to closing your Account.
4.2Limitations on Closing Your Account. You may not evade an investigation by closing your Account. If you close your Account while we are conducting an investigation, we may hold your funds to protect ToTok Pay, Affiliates or a third party against the risk of Reversals, Chargebacks, Claims, fees, fines, penalties and other liability. You will remain liable for all obligations related to your Account even after the Account is closed.
5.1Protection for Unauthorized Transactions and Errors. When an Unauthorized Transaction or an Error occurs in your Account, ToTok Pay will cover you for the full amount of every eligible Unauthorized Transaction or Error so long as you follow the procedures discussed below.
An “Unauthorized Transaction” occurs when a payment is sent from your Account that you did not authorize and that did not benefit you. For example, if someone steals your password, uses the password to access your Account, and sends a payment from your Account, an Unauthorized Transaction has occurred. If you give someone access to your Account (by giving them your login information) and they conduct transactions without your knowledge or permission, you are responsible for any resulting use.
You should immediately notify ToTok Pay if you believe:
To be eligible for protection for Unauthorized Transactions, you must notify us within 60 Days after any Unauthorized Transaction first appears in your Account history statement. We will extend the 60 Day time period if a good and demonstrable reason, such as a hospital stay, kept you from notifying us within 60 Days.
You should regularly log into your Account and review your Account history statement to ensure that there has not been an Unauthorized Transaction or Error. You should also review these transaction confirmations to ensure that each transaction was authorized and is accurate.
For Unauthorized Transactions or Errors in your Account, notify us as follows:
If you notify us orally, we may require that you send us your complaint or question in writing within 10 Business Days. During the course of our investigation, we may request additional information from you.
5.3ToTok Pay Actions after Receipt of Your Notification. Once you notify us of any suspected Unauthorized Transaction or Error, or we otherwise learn of one, we will do the following:
If we determine that there was an Unauthorized Transaction or Error, we will promptly credit the full amount into your Account within 2 Business Day of our determination. Or, if you have already received a provisional credit, you will be allowed to retain those amounts.
If we decide that there was not an Unauthorized Transaction or Error, we will include an explanation of our decision in our email to you. If you received a provisional credit, we will remove it from your Account and notify you of the date and amount of the debit. You may request copies of the documents that we used in our investigation.
5.4ToTok Pay Errors. We will rectify any Error that we discover. If the Error results in your receipt of less than the correct amount to which you are entitled, ToTok Pay will credit your Account for the difference. If the Error results in your receipt of more than the correct amount to which you are entitled, ToTok Pay will debit the extra funds from your Account.
5.5Your Errors. If you erroneously send a payment to the wrong party, or send a payment for the wrong amount (based on a typographical error, for example), your only recourse will be to contact the party to whom you sent the payment and ask them to refund the payment. ToTok Pay will not reimburse you or reverse a payment that you have made in error.
6.1Restricted Activities. In connection with your use of your Account, the ToTok Pay Services, or in the course of your interactions with ToTok Pay, other users, or third parties, you will not:
7.2Reimbursement for Your Liability. In the event that you are liable for any amounts owed to ToTok Pay, ToTok Pay may immediately remove such amounts from your balance. If you do not have a balance that is sufficient to cover your liability, your remaining balance (if any) will be removed, your Account will have negative balance up to the amount of your liability, and you will be required to immediately Add Money to your ToTok Pay balance or reimburse ToTok Pay through an alternative method. If you do not do so, ToTok Pay may engage in collection efforts to recover such amounts from you.
7.3Actions by ToTok Pay: Restricted Activities. If ToTok Pay, in its sole discretion, believes that you may have engaged in any Restricted Activities, we may take various actions to protect ToTok Pay, Affiliates other Users, other third parties or you from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:
7.4Actions by ToTok Pay: Holds.
7.5Actions by ToTok Pay: Reserves. ToTok Pay, in its sole discretion, may place a Reserve on funds held in your Business Account when ToTok Pay believes there may be a high level of risk associated with your Account or your use of any of the products and/or services offered by ToTok Pay and/or its Affiliates. If ToTok Pay places a Reserve in your Account, transactions will be shown as “pending” in your Account balance, and you will not have access to funds in a “pending” status until they are cleared. If your Account is subject to a Reserve, ToTok Pay will provide you with notice specifying the terms of the Reserve. The terms may require that a certain percentage of the amounts received into your Account are held for a certain period of time, or that a certain amount of money is held in Reserve, or anything else that ToTok Pay determines is necessary to protect against the risk associated with your Account. ToTok Pay may change the terms of the Reserve at any time by providing you with notice of the new terms.
7.6Actions by ToTok Pay: Account Closure, Termination of Service, Limited Account Access; Confidential Criteria. ToTok Pay, in its sole discretion, reserves the right to terminate these Terms and/or access to the ToTok Pay Services for any reason and at any time upon written notice and payment to you of any unrestricted funds held in your balance. If we limit access to your Account, including through a Reserve or hold, we will provide you with notice of our actions, and the opportunity to request restoration of access if, in our sole discretion, we deem it appropriate. Further, you acknowledge that ToTok Pay’s decision to take certain actions, including limiting access to your Account, placing holds or imposing Reserves, may be based on confidential criteria that is essential to our management of risk, the security of Users’ Accounts and the ToTok Pay system. You agree that ToTok Pay is under no obligation to disclose the details of its risk management or its security procedures to you.
8.1Services Limitation. ToTok Pay is not a bank and the ToTok Pay Services are payment processing services rather than banking services. ToTok Pay is not acting as a trustee, fiduciary or escrow with respect to your funds, but is acting only as an agent to you and custodian to your funds. ToTok Pay does not have control of, nor liability for, the products or services that are paid for with the ToTok Pay Services. We do not guarantee the identity of any User or ensure that a buyer or a Seller will complete a transaction.
8.2Third party websites. Where the App contains links to other sites and resources provided by third parties, including social media sites, these links are provided for your information only. Such links should not be interpreted as approval by us of those linked websites or information you may obtain from them.
8.3Password Security. You are responsible for maintaining adequate security and control of any and all IDs, passwords, personal identification numbers (PINs), or any other codes that you use to access the ToTok Pay Services.
8.4Taxes. It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and it is your responsibility to collect, report and remit the correct tax to the appropriate tax authority. ToTok Pay is not responsible for determining whether taxes apply to your transaction, or for collecting, reporting or remitting any taxes arising from any transaction. Please be advised that you may be subject to withholding taxes or other tax liabilities with respect to importing services from a foreign entity. In addition, you may be subject to VAT, sales tax, income tax, or other tax liabilities as a seller of goods or services. It is your responsibility to check with your local tax advisor to determine which taxes apply to you, and it is your responsibility to pay such taxes to the appropriate tax authority.
8.6Assumption of Rights. If ToTok Pay pays out a Claim, Reversal or Chargeback that you file against a recipient of your payment, you agree that ToTok Pay assumes your rights against the recipient and third parties related to the payment, and may pursue those rights directly or on your behalf, in ToTok Pay’s discretion.
“Verified Account” means an Account status that reflects that ToTok Pay has verified that an Account holder has legal control of one or more of his or her Payment Methods. A Verified Account status does not constitute an endorsement of a User or a guarantee of a User’s business practices.
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