Terms and Conditions of Prepaid Card Service

1. Preamble

   This application outlines the terms and conditions of mobile payment service, whereby the user can open a mobile account with the Bank and deposit thereto, withdraw therefrom or electronically transfer funds therethrough. Such account shall be fed by an electronic balance (electronic money units) that is equivalent to the amount deposited by the user in the mobile account with the Bank. Then, the user must carefully read all terms and conditions of the service before signing.

2. Definitions

   Bank

   means Mashreq Bank and all its branches.

   
   

   Company Name

   means the axis Pay for E-Payments S.A.E.

   
   

   Mobile Account

   means the electronic mobile account opened with the Bankin Egyptianpound through a branch of the Bank or the service providers approved by the Bank, where deposits, transfers and withdrawals of the service user shall be carried out through such account.

   
   

   Mobile

   means any mobile that is compatible with any telecom companies operating in the Arab Republic of Egypt or any other devices compatible with this service and those telecom companies.

   
   

   Service Provider

   Any entity that the Bank contracts therewith to provide the services subject matter of this application to the users and which is authorized by the Bank.

   
   

   User/Service User

   means the natural person who subscribes to the mobile payment service, provided that such user shall possess a mobile number and sign this special application.

   
   

   Mobile Payment Service

   means a mobile payment service provided by the Bank, the subject matter of this application, whereby the user can open a mobile account with the Bank and deposit thereto, withdraw therefrom or electronically transfer funds therethrough. Such account shall be fed by an electronic balance (electronic money units) that is equivalent to the amount deposited by the user in the mobile account with the Bank or with the approved service providers.

   
   

   Electronic Money Units

   means electronic units that are equivalent to each Egyptian pound only, excluding other currencies, as issued by the Bank, provided that the Bank shall receive a cash value not less than the electronic money units that are issued by the Bank and are transferable into Egyptian pound.

   
   

   Electronic Balance

   means the credit balance of electronic money units of the mobile account that results from deposits and withdrawals made by the Customer to and from the mobile account. Such electronic balance is transferable to any other customers and/or service providers and may also be used to pay the entities announced by the Bank.

   
   

   Terms and Conditions

   means all terms and conditions of the mobile payment service and the CBE’s instructions stipulated herein, or in any subsequent amendments thereto as posted on the Company’s Website.

   
   

   Activation Code

   means the service activation code, where sent by [Company Name] via an SMS to the User’s Mobile.

   
   

   M-PIN

   The password of the service as created by the user upon the first login, can be changed by the user and shall be used when any transaction is carried out through the App.

   
   

   Means of Communication to contact users

   any appropriate means that [Company Name] may deem fit, including, but not limited to, (the official social media of [Company Name], [Company Name] official website, via SMS) and shall be in Arabic and/or English.

3. Service Provision Mechanism

   • Once the user signs the service subscription application, provided that all other conditions are fulfilled and mobile account opening procedures are completed by the user, following [Company Name] duly reviews the user’s identity, the mobile payment service shall be activated by sending the user the service activation code via SMS to the user's mobile. The user must create its own password number (M-PIN) on the first use of the service. M-PIN shall consist of 6 digits. The user shall maintain the confidentiality of such M-PIN on its own responsibility. The customer shall correctly enter the M-PIN as there is maximum attempts. If the service suspended due to entering the M-PIN incorrectly more than once, the customer shall contact customer service. The customer shall have the right deposit to and withdraw from its electronic balance, either through service providers and/or branches of axis Pay, the customer may also transfer money from its electronic balance to the customers and/or the approved service providers so that any of them may withdraw or deposit such balance to its electronic balance. The customer may deposit or withdraw amounts to or from all ATMs (allowing mobile wallet withdrawals and bear the Brand "Meeza"), as well as purchase from shops through POS, pay bills, add credit through the service app, transfer from a smart wallet to smart wallet, and to use any other new services, within the limitations set by the Bank and the CBE in this regard. The user shall be entitled to use any available electronic means through which the service is provided in relation to the mobile account only and execute any of the customer’s other Bank accounts that are opened with the Bank and that are governed by the applicable general Banking rules of the Bank. If the user desires to change the mobile number associated with the mobile account, the user shall notify [Company Name] immediately.
   • The service user shall, at any time, have the right to close the mobile account and charge back the cash balance that is equivalent to the electronic credit balance. The service user shall visit a branch of [Company Name] to withdraw the entire remaining balance first. Then, the customer shall sign a smart wallet cancellation form to close the same and submit the original personal document to verify the identity of the service user. The cancellation process and service termination shall be completed within 15 business days following the receipt of the cancellation form. The service user shall not be entitled to claim or recourse against the Bank or [Company Name], in respect of a remaining balance following the lapse of the said period and without any responsibility on the part of the Bank.

4. Service Use

   • The right to use or leverage from the service shall be limited to the service user solely. The user shall, at all times, not allow or enable any other person to use or leverage the service.
   • The user must show and submit to the Bank, approved service providers and/or [Company Name] an acceptable identity document upon any withdrawals or deposits. No user shall have the right to deposit any amounts to the mobile accounts of other customers.
   • If the customer used the service in violation of any of the terms and conditions of the mobile payment service or in violation of any of the applicable laws and regulations, the Bank shall have the right, at its absolute discretion, to suspend or cancel the service.
   • The Bank shall have the right to restrict or cancel, at any time, the customer’s account, if so requested by the law or international agreements, if the Bank has reasonable or supportive reasons indicate that the fraud of the customer or that the customer uses the account for an illegal or improper purpose, in violation of applicable laws or in violation of the applicable Terms and Conditions of the Bank’s accounts, as the case may be. The Bank may also freeze or close the account in case the customer is a victim of fraud or the customer’s identity is stolen in order to avoid potential losses.
   • If the account holder is in breach of any of the terms and conditions of this application, if the customer has provided the Bank with any ambiguous, contradictory or unacceptable instructions or if the Bank suspects that there are any fraudulent, illegal or invalid transactions, the Bank shall have then the right to freeze, suspend or the customer’s account or shall refuse any Banking transactions. The Bank may also report any money laundering, suspicious or illegal transactions made through the account to the regulatory authorities in the Arab Republic of Egypt or abroad, whereas the Bank complies with all applicable anti-money laundering laws and regulations and may, at its own discretion, request additional details or information from the account holder and provide such information and details to the relevant authorities. In such cases, if the requested information is not provided by the account holder within the required deadline, the Bank shall not incur any responsibility or liability for the delay in completing any transactions.
   • The user shall maintain the confidentiality of its M-PIN and shall keep it at all times under its own responsibility. Accordingly, the customer shall be solely responsible for the disclosure of any particulars or information related to the user or to its accounts if such disclosure resulted from a mistake, omission or negligence in maintaining its M-PIN without any responsibility on the part of the Bank.
   • If the user terminated the mobile number associated with the user’s account, then the user shall lose an essential condition as a user of the service. Therefore, the user shall automatically lose its right to use the service through the terminated mobile number.
   • The user shall acknowledge that it’s responsible for all transactions and all operations that carried out through the mobile account associated with the service and for the use of its M-PIN. The Bank’s books and records shall be evidence against the user and others.
   • Neither the Bank nor [Company Name] shall be responsible for any losses or damages that may occur to the user as a result of misuse of the service, any mistake made by the user or any malfunction of the service that may occur due to a mistake by the user, insufficient balance of the mobile account or any other reason in which the user has involved. Neither the Bank nor [Company Name] shall be responsible for any defect in the telecom networks. The user shall acknowledge that Neither the Bank nor [Company Name] shall be responsible for or incur any costs or burdens in relation to the interruption of the online or mobile service, or as a result of any problems or malfunctions that may occur on the network or the mobile line.
   • Neither the Bank nor [Company Name] shall be responsible for any organization that refuses the electronic balance as a means of payment, nor they shall be responsible for the goods or services that the user will obtain in consideration of such balance. Any complaint raised by the user in this regard, must be resolved with that organization directly. In this regard, the Bank’s role shall be limited to credit any amount that the user may charge back to the mobile account, after the Bank obtains a properly issued credit notice from that organization.
   • If the mobile is stolen or lost or the SIM card, associated with the service and receives the activation code, is lost and in all cases, if other person carries out any transactions through the customer’s service accounts, the customer shall notify [Company Name] of the same. Before [Company Name] is so notified by the customer, the customer shall be fully responsible towards the Bank and/or [Company Name] for all consequences of those transactions. The customer shall report by calling [Company Name] customer service to suspend the service. In the event that the customer desires to reactivate the service, the customer must call the customer service of [Company Name].
   • The Bank shall authorize this service to natural customers only. Only one mobile account shall be opened for each mobile number of the user (each customer shall have only three wallets with different mobile numbers). The Bank shall manage such accounts and the customer shall deposit to such account electronic money units that are equivalent to the EGP cash deposited by the customer in order to feed the customer’s mobile account. These deposits shall be classified as demand deposits and shall receive no interest. This service allows the transfer of electronic money units among the mobile accounts subscribed to the smart wallet system.
   • The Bank shall solely have the right to set maximum limits of the balance, value and number of daily and monthly transactions of the mobile account. The Bank shall have the right to change them from time to time and shall notify the customer of the same by any appropriate means as the Bank may deem fit. If the customer used the service after such changes, this shall be deemed as an approval of the customer. This shall be made within the framework of the Bank’s policy and subject to the service regulatory rules as issued by the Central Bank of Egypt. Transfers shall be carried out within the Arab Republic of Egypt only and shall be denominated in local currency (Egyptian pound only). It is not allowed to transfer other currencies, perform currency exchange, or set-off customer accounts with other currencies. Users shall be allowed to receive transfers from abroad in foreign currencies and to add them to the mobile account in the Egyptian pound; provided that the user shall fulfil the KYC procedures under the KYC rules issued by the Money Laundering Combating Unit [MLCU] of the Central Bank of Egypt.
   • The Bank shall be entitled to refuse certain transactions in any cases that the Bank may deem inappropriate. The Bank shall also have the right to refrain from disclosure of the reasons. The Bank shall take the appropriate measures to ensure that the transfer is made for the benefit of the same user and that the payment has been credited in Egyptian pound to the customer’s mobile account and each mobile number shall have only one mobile account. The user must protect its M-PIN and shall, if the Customer’s mobile is lost, report immediately.
   • If a complaint reported by the service user, the user shall visit the nearest branch of [Company Name] and shall report a signed complaint, or by calling the customer service of axis Pay. The user shall receive a response within fifteen business days as of the date on which the complaint is reported, except for complaints related to external transactions. The customer shall be notified of the period required for studying the complaint.
   • If the customer does not accept the response of the Bank or axis Pay, the customer must notify the Bank or axis Pay in writing within fifteen business days as of the date of receiving such response, including the reasons for non- acceptance. If the customer so failed, such failure shall be an implicit acceptance of the response. If the Bank or axis Pay is notified of non-acceptance of the response, the Bank or axis Pay must reconsider and examine the complaint again and shall provide the customer with a final response within fifteen business days, and shall, especially if the response has not been changed, be accompanied by appropriate and clear justifications. If the customer does not accept the second response from the Bank or axis Pay, then the customer shall be notified of its right to escalate the complaint to the Central Bank of Egypt.
   • Calls made by the customer with the customer service center shall be recorded by the Bank and/or axis Pay for quality control purposes. The user's acceptance of the terms and conditions of this application shall constitute an explicit approval of such procedure.
   • axis Pay shall notify customers in advance before interrupting the service to perform specific pre- service maintenance, as may be announced by an appropriate means of axis Pay and as recognized by the customer. In cases of a sudden interruption of the service, the Bank and axis Pay shall restore the service within fifteen business days as a maximum, save as the force major events.

5. Fees

   • The user hereby undertakes to pay the service registration fees (mobile account opening fees, annual fees, withdrawal, deposit and transfer fees, dispute fees and any other additional service fees as may be provided by the service, as determined by axis Pay within the Banking service tariffs announced and disclosed by axis Pay from the time. axis Pay shall reserve the right, at its absolute discretion, to amend any fees from time to time. Fee announcement through the channels that may deem fit shall be effective notice to the user. Use of the service after the effective date of any amendment to these fees shall represent an acceptance by the customer.
   • All instructions issued and all transactions performed by the user through the service shall be binding on the customer and shall give all effects against the customer. axis Pay hereby undertakes to activate all transactions and perform all instructions as may be issued by the user to the branch of axis Pay through any electronic media as used for the provision of services. All instructions issued by the user to the Bank and/or axis Pay through the electronic media as used for the provision of the service shall be deemed as if they were issued directly by the customer. Upon receipt or becoming aware of such instructions, axis Pay shall perform them unless they conflict with the Bank’s policy and instructions issued by the Central Bank of Egypt. In return, the user shall be responsible before the Bank for all consequences of the instructions performed by the Bank.
   • The Bank shall not be enforced to accept written instructions or authorizations issued by the user in terms of the instructions issued by the Bank when carrying out transactions through the Service. The user shall irrevocably undertake to indemnify the Bank against all losses, claims, damages, costs and expenses that the Bank may incur as a result of carrying out the user’s instructions, including judicial fees and the Bank’s lawyers’ and advisors’ fees. In the event that the Bank discovers any behavior or attempt made by the user to breach or violate AML laws or regulations, the Bank shall have the right to suspend the transactions of the user’s all electronic balances until the user presents an appropriate and acceptable justification to the Bank, all without prejudice to the Bank's right to take all measures as may be applied to the Bank by the applicable laws in the Arab Republic of Egypt.

6. Security and confidentiality

   • The customer shall be fully responsible for protecting its mobile account and shall strictly keep the confidentiality of its account details from all persons without exception. Th user shall take all necessary preventive measures to keep them safe. The user must not disclose the M-PIN to anyone else at any time (including family members, friends or any of the Bank’s employees). If an employee or agent of the Bank requested any of these confidential particulars, the user must contact the Bank as soon as possible and shall take all necessary precautions to ensure that the MIPN is not shown during the execution of any payment orders through the service. The user must read and abide by the warnings and cautionary frameworks (such as security warnings or fraud alerts/social engineering and the mobile shall not be rooted/jailbroken, etc.), taking into account that the acceptance of any amendments to the terms and conditions of the services made by the user through the service App is a legal obligation.
   • Protection of privacy and confidentiality of customer/service user particulars is an essential requirement for the Bank. Therefore, the Bank seeks to ensure the security and confidentiality of customer particulars and cash transactions. However, the Bank may be required by law and service agreements to disclose certain information or particulars related to the user’s account to the legal authorities or to service providers, within the framework and to the extent permitted by the law, as amended, or within the limits of the concluded agreements. Thereupon, the user hereby authorizes and delegates the Bank to disclose any of the user’s transactions and transaction details as kept with the Bank to third parties as may be, at its discretion, deemed fit by the Bank. The user hereby accepts that the Bank will submit or disclose all or part of the information related to the user’s account(s) opened with the Bank to any of the Banks’ branches, agents and/or any technical, Banking or marketing service providers, representing any entity engaged by the Bank to provide certain services related to the performance of the service and authorized by the Bank as may be deemed appropriate and necessary by the Bank in this regard.

7. General

   • The only currency used for the service is the Egyptian pound.
   • Each mobile line shall have only one mobile account to use the service. The Bank shall have the right to delegate any second party, in the Arab Republic of Egypt or abroad, to undertake part, and not all, of the Bank’s obligations subject to the terms and conditions of the service. In such a case, the Bank shall remain responsible, before the user, for the confidentiality of all user particulars and accounts. The Bank shall also remain responsible, before the user, for any mistakes, negligence or omission that may be made by that second party.
   • The Bank or any other party, that may be engaged by the bank to perform any of the Bank’s obligations under the terms and conditions of the service, shall have the right to record and keep the phone calls received by the customer service.
   • The Bank may at any time terminate the service and the user may also terminate the mobile payment service at any time. This termination shall become effective within 15 business days of receiving the cancellation form. Following the verification of the drawer’s identity and when the user signs the service cancellation form at a branch of the Bank, the user shall withdraw and charge back the cash that is equivalent to the electronic credit balance of the user’s account. The user shall then have no right to claim or recourse against the Bank for the remaining balance, and the Bank does not have any legal accountability.
   • If any of the user’s information or particulars is or are changed during the Term of the Agreement, the user shall notify the Bank and axis Pay within no later than 30 days from the date of such change.
   • If the customer did not comply with the previous clauses, the customer shall incur full responsibility for any transactions that are carried out without the customer’s approval, and the commissions and expenses resulting therefrom.
   • No credit shall be granted in any way in consideration of electronic money units.
   • This Engagement shall be governed by the relevant laws of Egypt and the executive regulations thereof, instructions and controls govern the services that the Bank and [Company Name] provide to customers via mobile. Any dispute that may arise from the interpretation or performance of its terms shall be settled by the competent courts of various types and degrees in the Arab Republic of Egypt. The Bank shall be entitled to amend the terms and conditions of this application and [Company Name] must notify the user of such amendments through any means as the Bank may deem appropriate. The user hereby acknowledges that any potential changes or amendments to the terms and conditions of the mobile payment service form are an integral part of this application. In the event that the User continues to use the Service after the date of such modification, such use shall constitute acceptance by the user of the amended Terms and Conditions.