Introduction

Welcome to NayaPay Business. This document sets out the terms and conditions (the “Terms”) for your NayaPay Business Account (we may call this the “Account” or “NayaPay Business Account”). It also sets out other important things that you need to know. These Terms govern your access to and use of NayaPay Business services ("Services").

NayaPay is licensed by the State Bank of Pakistan (SBP) as an Electronic Money Institution (EMI).

By registering for or using the Services, you agree to be bound by these Terms. If you do not agree, do not use the Services. NayaPay reserves the right to update these Terms without prior notice. Continued use of the Services after such changes shall constitute your consent to the changes.

These Terms of Use govern the opening and closure of your NayaPay Account and use of the same and other Services available on the NayaPay Platform. Together with our Policies, and any other terms and conditions referred to in these Terms of Use, they constitute the agreement between you and us. For the use of certain Services, you may have to accept additional terms and conditions as notified to you when you are procuring or using such Services (“Additional T&Cs”). You are advised to print or download and keep a copy of these Terms of Use for future reference. You can ensure that you are reviewing the current Terms of Use on our Website.

Your NayaPay Business Account is a payment account that holds your e-money. When you add money to your Account or when we receive a payment into your Account from someone else, we place the equivalent value of e-money in your Account.

Eligibility

To access and utilize the NayaPay Business Services, your business must be registered and in compliance with the Securities and Exchange Commission of Pakistan. These services are designed exclusively for the business entity that has completed registration with NayaPay Business, ensuring they are tailored for legitimate business operations.

For individuals operating as sole proprietors or private partnerships without formal registration, by engaging with NayaPay Business Services, you acknowledge your personal responsibility for any liabilities arising from your business activities.

Key executives associated with your business are required to disclose their personal identification documents and undergo biometric verification as part of NayaPay's comprehensive onboarding process. This ensures a secure and transparent environment for all parties involved in utilizing NayaPay Business Services.

In order to use our Services, you must first open a NayaPay NayaPay Business Account by registering on the NayaPay Platform. As part of the registration process, we will ask you to create a NayaPay Business ID (for e.g. ab@nayapay). This ID will be used to identify you as a NayaPay user. At all times NayaPay shall hold full rights of the NayaPay ID. As and when required by NayaPay and without giving prior notice, NayaPay shall have the authority to revoke the NayaPay ID and ask you to change it. NayaPay will provide an option to you to choose an alternate NayaPay ID as part of the change procedure. As part of the registration process, you will also need to accept these Terms of Use and you must be at least eighteen (18) years of age and have legal capacity to accept the same. Please note that Additional T&Cs may apply to particular Services.

We may decline to open or maintain an account for any business at our sole discretion,without the obligation to provide a reason.

Your NayaPay Business Current PKR Account is denominated in PKR. This will remain the currency of your NayaPay Account for the duration of your agreement with us. NayaPay reserves the right to issue e money accounts in other currencies subject to SBP regulations. Your usage of such accounts will be bound by additional terms and conditions

The E-Money held in your NayaPay NayaPay Business Current PKR Account does not expire but it will not earn any interest, mark-up, or any other form of return. NayaPay reserves the right to launch savings and investment products in the future, your usage of which will be subject to additional terms and conditions.

NayaPay Account is not a bank but is an Electronic Money Institution. By accepting these Terms of Use you agree and acknowledge that the Banking Companies Ordinance, 1962 does not apply to your NayaPay Account. The E-Money held in your NayaPay Account is at all times backed by funds, which are held separate from our funds, in a trust account which is administered by a Trustee in accordance with the EMI Regulations.

The E-Money in a NayaPay Account belongs to the person or legal entity which is registered as the NayaPay Account holder. No person other than the NayaPay Account holder has any rights in relation to the E-Money held in a NayaPay Account, except as required under Applicable Laws. You may not assign or transfer your NayaPay Account to a third party or otherwise grant any third party a legal or equitable interest over it.

Any fee or other amounts payable by you to us shall be deducted/offset from the balance in your NayaPay Account. If the Account balance is insufficient, we reserve the right to invoice you for any shortfall and/or restrict the provision of any or all of the Services.

By opening a NayaPay Business Account you represent and warrant to us that your opening of a NayaPay Account does not violate any Applicable Laws as are applicable to you.

The person who opens your Account agrees that:

• they have full authority to enter into this Agreement and meet the obligations under it; and
• they will provide to us, all the information we need during the Account opening process.

All information you provide during the signup process or any time, thereafter, including information required pursuant to Applicable Laws, must be accurate and truthful, and you represent and warrant to us that all information provided as part of the signup process is true and accurate. If the nature of your business, or any information provided during the Account opening process, changes, you must notify us immediately. We may also need to ask you for more information after your Account is opened to be able to continue providing services to you.

Each sole trader or company is limited to having one Account. You can't open more than one Account under these Terms, or open a new Account if we've previously closed one that you held. If you’re a company and we’ve closed your Account but you wish to open a new Account in a different capacity, you may be able to do so, as long as you meet our eligibility criteria.

The following activities are prohibited business activities:

• Dating, escort, pornographic or other adult entertainment;
• Gambling;
• Cannabinoids;
• Weapons, arms or military;
• Trading in antiques, precious metals, stones or art;
• An auction house, pawnbroker, or similar;
• Counterfeit consumer products;
• Chemicals and related products;
• Video-game arcades;
• Binary options or gambling;
• Debt collection;
• Certain regulated or non regulated financial services or instruments;
• Consulate, diplomatic or embassy services;
• Any other business activity which, in our sole discretion, involves quasi cash transactions or is outside our risk appetite.

Account Registration and Use

Account Creation: You must provide accurate and complete information during the account creation process. NayaPay reserves the right to refuse service, terminate accounts, or cancel orders at its sole discretion.

Account Security: You are responsible for maintaining the confidentiality of your account and password and for restricting access to your computer or device. You agree to accept responsibility for all activities that occur under your account or password.

Authorized Users: You may designate authorized users who can access and use the Services on behalf of your business. You are responsible for their actions and compliance with these Terms.

Account Maintenance: You must ensure that the information recorded on your Account is always accurate and up to date. We may ask you at any time to confirm the accuracy of your information or to provide documents or other evidence.

You may only link bank accounts for pulling and loading funds to your NayaPay Business Account if you are the named holder or user of that linked bank account. The linked bank accounts must be in the name of the registered business or the name of the owner of the sole proprietorship.

Any use of the Payment Services is displayed in your Transactions on the NayaPay Platform. Each Transaction is given a unique Transaction ID and shown in the Transaction history. We will not alter or amend information displayed in your Transaction history. You should quote the relevant Transaction ID when communicating with us about a particular Transaction. You should check your NayaPay Business Account balance and Transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Customer Support.

You must notify us without undue delay after becoming aware of any unauthorised or incorrect Transaction and in any event no later than three (3) months after the date of such Transaction.

Loading Funds:

You can load E-Money to your NayaPay Account through the Load Methods specified on the NayaPay Platform. Load Methods may include services provided by third parties. We do not guarantee the availability of any particular Load Method and may make changes to or discontinue the acceptance of any particular Load Method at our sole discretion and/or in compliance with Applicable Laws.

E-Money will be credited to your NayaPay Account after the corresponding PKR have been received by us or on behalf of us by the relevant Partner Institution.

Withdrawal of Funds:

You have the flexibility to withdraw E-Money from your NayaPay Account at any given time depending on applicable limits, utilizing the withdrawal methods outlined on the NayaPay Platform. However, we cannot guarantee the continuous availability of all withdrawal methods. We reserve the right to modify or cease offering a particular withdrawal method without prior notice, at our discretion.

Should you withdraw cash using your Debit Card or biometrics at an ATM of a Partner Institution and your NayaPay Account is not charged, NayaPay has the authority to deduct the corresponding amount along with any applicable fees from your account. This action is permissible without the need for further notification or approval from you. The fees applied will align with the Partner Institution's current Schedule of Charges. In instances where your NayaPay Account lacks sufficient funds to cover the withdrawal and associated charges, NayaPay is entitled to compensate the shortfall by accessing any credit balances, instrument proceeds, or other items belonging to you within NayaPay's possession, or alternatively, to seek reimbursement directly from you.

CashWithdrawals:

NayaPay reserves the right to implement additional scrutiny measures for cash transactions to enhance fraud prevention and ensure customer safety. Should you opt to increase limits, you acknowledge and accept full responsibility for any associated risks, including the potential for fraudsters to withdraw funds from your account. It is imperative that you adhere to all terms and conditions outlined in this contract, particularly concerning the safeguarding of your MPIN and other credentials to mitigate the risk of unauthorized access to your account.

Limits: Your NayaPay Account comes with specific limits on loading funds, making payments, and withdrawing money. These limits are flexible and may change based on several factors, including your level of verification, the requirements of applicable laws, and other considerations determined by us. To stay informed about your current limits, you can easily check them at any time by viewing your profile on the NayaPay Platform. It's important to be aware of these limits before adding funds to your account or using any payment services to ensure that your transactions comply with these established boundaries.

Delegating access to your Account

This Agreement is binding on you, but you can authorise different categories of people to carry out activities on your behalf (“Authorised Persons”). All Authorised Persons must be over 18. The categories of Authorised Persons are:

• Super Admin. This is usually the person who initially enters into this Agreement on behalf of your company. This person has full access to the Account. They can add other users and place limits on the payments they can make. This person may also be able to appoint other Super Admins.
• Approver. Approvers can review and authorise card usage as well as transaction requests, such as fund transfers or bill payments, according to company policy. However, they do not have access to the company-wide financial data.
• Finance. Finance users can view the company’s finances, including bills, accounts, and transactions, facilitating their accounting and financial analysis tasks. They can initiate transactions and bill payments, which are then submitted for approval. Additionally, they can view their own transaction details, associated monthly limits, current balance, and failed transactions.
• Card Owner. Card Owners have the most limited access and can only manage personal card usage and expenses. They are able to view their transaction details, associated monthly limits, current balance, and failed transactions. This role has restricted access to the company's dashboard.
• Sales. Sales users can create and manage invoices and payment links to facilitate customer payments. They are able to view deposits along with all associated transactions. A sales user can also be issued debit cards with specified spending limits. Additionally, sales users have access to their own transaction information.

We will treat all instructions from Authorised Persons acting within the limits of their authority as if you had given the instructions yourself.

It is the responsibility of the Super Admin(s) to withdraw the authority from, or impose limits on, any Authorised Person (for example, if they are no longer employed by you). If you need to change or remove a Super Admin, you may be able to do so by contacting Support.

Restrictions on using your Account

Your Account must not be used (directly or indirectly) for the following:

• for illegal purposes (for example, committing fraud);
• for personal use;
• in a way that we reasonably believe might be harmful to us or our software or hardware which may thereby restrict our ability to provide our services;
• to abuse, exploit or get around any usage restrictions set of a third party (for example, using multiple cards to abuse a third party’s free trial period); and
• to trade in currencies for speculative purposes (for example, to take advantage of any rise or fall, or discrepancies, in the value of a currency).

Fees and Charges

NayaPay Business reserves the right to charge fees for certain services. All applicable fees will be communicated to you and will be due and payable as set forth in the service agreement or as outlined in the Schedule of Charges. Failure to pay any fees may result in the suspension or termination of Services.

Fees associated with transactions on the NayaPay Platform are detailed in our Schedule of Charges, accessible anytime under the "Fees" section. This section, an integral part of these Terms of Use, offers a comprehensive overview of the costs you might incur while using our services. We encourage you to review and keep a copy of this information for your records.

NayaPay is committed to transparency and reserves the right to adjust or introduce new fees as necessary, in line with these Terms of Use. Any changes to our fees will be communicated clearly to you, as we believe in maintaining open lines of communication with our customers.

Fees due for any transaction will be automatically deducted from your Account balance. Should your account lack sufficient funds to cover these fees at the time of a transaction, we may be unable to proceed with the service requested.

Additionally, it's important to be aware of any charges that may be applied by Partner Institutions in relation to the Payment Services you use. Understanding these potential charges is crucial, and we're here to help clarify any questions you may have. For detailed explanations or inquiries about any fees, please don't hesitate to contact our customer service helpline.

Intellectual Property

All intellectual property rights in the Services, including software, documentation, and content provided by NayaPay, are owned by NayaPay or its licensors. You are granted a non-exclusive, non-transferable license to use the Services for your business purposes in accordance with these Terms.

NayaPay holds exclusive ownership of all intellectual property rights associated with the NayaPay Platform and its Services, encompassing elements like the content available through our app and website, our distinctive logo, and our unique designs. Your use of our intellectual property is strictly limited to accessing and enjoying the services provided by the NayaPay Platform, strictly in line with these Terms of Use. Any attempt to reverse-engineer any aspect of the NayaPay Platform or Services — meaning, attempting to recreate them based on a detailed analysis of their structure or content — is strictly prohibited.

For further details or clarifications regarding how we handle intellectual property, please consult our dedicated Policies on intellectual property rights. These policies are designed to provide comprehensive guidance on the permissible use of our intellectual assets and the protections in place to safeguard them.

Data Protection and Privacy

Your privacy is important to us. The collection, use, and disclosure of your business and personal information are governed by our Privacy Policy, which is incorporated by reference into these Terms.

The NayaPay Business Platform uses built-in features to help protect the security of your Account. As part of the registration process, you will be required to set your NayaPay Password and PIN.

You must take all reasonable steps to keep your: (i) NayaPay Business Password and PIN secure at all times and never disclose them to anyone; and (ii) Debit Card safe and within your possession. Our personnel will never ask you to provide your NayaPay Business Password and/or PIN to us or to a third party. Any message you receive or website you visit that asks for your NayaPay Password and/or PIN, other than the NayaPay Platform should be reported to us. It is advisable to change your NayaPay Business Password and PIN regularly (at least every three (3) to six (6) months) in order to reduce the risk of a security breach in relation to your NayaPay NayaPay Business Account. We also advise you not to choose a NayaPay Password or PIN that is easily guessed from information someone might know or gather about you, or a NayaPay Password or PIN that has a meaning. You must never allow anyone to: (i) access your NayaPay Account or watch you accessing your NayaPay Account; and (ii) take possession of your Debit Card. You must comply with the security procedures we tell you about from time to time.

If you have any indication or suspicion of your Account, Debit Card, login details, NayaPay Business Password, PIN, or other security feature being lost, stolen, misappropriated, used without authorisation or otherwise compromised, you are advised to change your NayaPay Password and PIN. You must contact Customer Service without undue delay on becoming aware of any loss, theft, misappropriation or unauthorised use of your NayaPay Business Account, Debit Card, login details, NayaPay Business Password, PIN or other security features. Any undue delay in notifying us will affect the security of your NayaPay Account.

If we think your NayaPay Business Account is at risk of fraud or a security threat, we will use our best efforts to contact you through the fastest and most secure means using the details you have provided to tell you what you need to do to help deal with that risk.

You must take all reasonable care to ensure that your e-mail account(s), mobile number, and Devices are secure and only accessed by you, as the same may be used to compromise the security of your NayaPay Account. In case any of the aforementioned means of communication are compromised, you should, without undue delay after becoming aware of this, contact Customer Service.

Certain Services you use on the NayaPay Business Platform may have additional security requirements and you must familiarise yourself with those as notified to you.

By using the NayaPay platform, you consent to us accessing information on your device, including but not limited to, contact numbers of other NayaPay users in your address book, photos, messages, location data, and more, in line with our Privacy Policy. This data processing is essential for the smooth functioning of our services and is fully detailed in our Privacy Policy, which forms part of these Terms of Use. We do not sell your data to third parties. We only access device information necessary to provide the Services, such as contact syncing or location-based fraud detection, and always in accordance with our Privacy Policy. We encourage users to review the Privacy Policy to understand how data is collected, processed, and safeguarded under SBP guidelines and applicable laws.

Furthermore, to facilitate the operations of the NayaPay Platform and the delivery of our Services, NayaPay may utilize the expertise of its affiliates as well as third-party agents and service providers, as allowed by applicable laws. By agreeing to these Terms of Use, you are acknowledging and consenting to the access, processing, and retention of your information by us, our affiliates, and our third-party partners for the purpose of operating the NayaPay Platform and providing Services, all within the bounds of applicable laws. This arrangement is designed to not infringe upon the data protection rights and obligations defined by those laws.

Should you choose to withdraw this consent, you may do so by closing your NayaPay Account. Upon withdrawal of consent, we will discontinue using your information for the specified purposes, although we may still process your data as necessary under applicable laws for other purposes.

Compliance with Laws and Prohibition

You agree to use the Services in compliance with all applicable laws and regulations, including but not limited to financial services regulations, anti-money laundering (AML) and counter-terrorism financing (CTF) requirements.

Prohibited Transactions:

The utilization of NayaPay Business Payment Services is strictly prohibited for transactions involving illegal or unethical products and activities. This includes, but is not limited to, the sale or distribution of drugs and associated paraphernalia, all forms of weapons, unauthorized cable TV descramblers, obscene or pornographic materials, content that promotes violence, hate, or racism, counterfeit items, unlicensed gambling operations, unregistered charities, and any products or services that facilitate illegal actions. Additionally, the sale of prepaid debit cards not tied to a specific vendor, involvement in pyramid schemes, unauthorized multi-level marketing, or any schemes promising quick financial gains, products infringing on intellectual property rights, and unregulated gaming activities are forbidden. We reserve the right to expand this list of prohibited activities at our discretion and will notify you of such changes in line with these Terms of Use.

Using your NayaPay Account for illegal purposes, including fraud and money laundering, is strictly forbidden. We may request proof of the origins of funds added to your account and will report suspicious activities to law enforcement as mandated by law.

The responsibility to ensure that your use of the Payment Services abides by all applicable laws rests solely with you. The acceptance of payment through our services does not imply the legality of the sale, provision of goods and services, or the underlying transaction. If you are unsure about the legality of a transaction, it is advisable not to proceed with the payment.

• in a way that we reasonably believe might be harmful to us or our software or hardware which may thereby restrict our ability to provide our services;
• to abuse, exploit or get around any usage restrictions set of a third party (for example, using multiple cards to abuse a third party’s free trial period);

Partner Institutions

We partner with reputable institutions like Visa to offer business debit cards and may collaborate with other product providers in the future. It's important to note that NayaPay is not responsible for any issues that arise from the actions of these partner institutions. We encourage you to familiarize yourself with the usage terms and conditions of these partners to fully understand the scope of our services.

Our Payment Services are facilitated by Partner Institutions, some of which are regulated entities, to ensure a broad range of financial solutions. When you engage with these institutions, whether by linking an account or using their methods for loading or withdrawing funds, you're entering into a direct agreement with them. Examples of partner institutions, besides Visa, may include MasterCard for additional card services, and local banks like HBL or UBL for account management and transaction services.

It's crucial for you to review and understand the terms, conditions, and any associated fees of these partnerships, as they can affect your Payment Services experience. This includes any specific features, limitations, or charges that could impact your transactions. Adding a Linked Account to the NayaPay Platform is a straightforward process, guided by our Account Linking procedure, designed to integrate seamlessly with your financial management on the NayaPay Platform.

Please ensure you are well-informed about these relationships to optimize your use of the Payment Services we offer.

Limitation of Liability and Indemnification

NayaPay Business shall not be liable for any indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from your access to or use of or inability to access or use the Services.

You agree to indemnify and hold harmless NayaPay Business, its officers, directors, employees, and agents from any claims, damages, liabilities, costs, and fees (including reasonable attorneys' fees) arising from your use of the Services or violation of these Terms.

NayaPay is committed to ensuring the security and proper use of your account. As part of this commitment, we outline specific scenarios where we cannot be held liable for losses, damages, or costs arising from certain actions or failures on your part:

• Security of Account Details: You are responsible for safeguarding your Debit Card, NayaPay Password, PIN, and any other security features of your account. Failure to do so, or delay in notifying us of any unauthorized use or compromise, absolves us of liability.
• Unauthorized Transactions: Should you act with gross negligence or fraudulently compromise the security of your account, we cannot be held accountable for unauthorized transactions.
• Debit Card Retention: If an ATM retains your Debit Card, it's crucial to report the incident promptly to mitigate any potential losses.
• Merchant Disputes: We are not responsible for any disputes related to the goods or services acquired through merchants on the NayaPay Platform, including issues related to quality, delivery, or quantity.
• Tax and Duty Charges: Any taxes or duties arising from the use of your NayaPay Account or Payment Services are your responsibility.
• Linked Accounts and Partner Institutions: Any issues related to Linked Accounts or services provided by Partner Institutions, including but not limited to disruptions or service impairments, fall outside our liability.
• Compliance with Laws: It is crucial that you comply with all applicable laws and these Terms of Use. Non-compliance that results in losses or damages will not be our responsibility.

To manage these risks effectively:

• Regularly Review Transactions: Monitor your account activity and promptly report any discrepancies or unauthorized transactions.
• Recovery of Incorrect Payments: We will assist in tracing and recovering any incorrect or misdirected payments to the extent possible.
• Finality of Transactions: Once processed, instructions given through your Debit Card or biometrics at an ATM cannot be reversed.
• Limitation of Liability: Our liability does not extend to indirect or consequential losses, such as loss of profit, business, or reputation.

Finally, while we provide the platform and account services, we do not endorse or guarantee the quality of any third-party goods or services available through NayaPay. Your agreement to these Terms includes an obligation to indemnify us against losses arising from breaches of these Terms, applicable laws, or infringement of intellectual property rights.

This framework is designed to protect both you and NayaPay, ensuring a secure and reliable experience while using our platform and services.

Termination

NayaPay Business may terminate your access to all or any part of the Services at any time, with or without cause, with or without notice, effective immediately.

You may close your NayaPay Account at any time by contacting Customer Service. If your NayaPay Account holds a balance at the time of its closure, we will ask you to withdraw your funds within a reasonable period of time, during which your NayaPay Account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period you will not be able to access your NayaPay Account, but you may withdraw any remaining funds by contacting Customer Service and requesting that the funds are sent to you in accordance with the relevant procedure.

In the event that you decide to discontinue use of a Debit Card, please block the Debit Card. Notwithstanding this, the Debit Card issued to you shall remain at all times, the sole property of NayaPay and shall be surrendered on demand to NayaPay as per our request. NayaPay, at its sole discretion, reserves the right, at any time, to cancel or withdraw the Debit Card or refuse to reissue, renew or replace the same under intimation to you.

In the event of your death, Transactions shall continue to be debited to your NayaPay Account till such time that NayaPay is informed in writing about your death. Upon receiving such notice, NayaPay will block any fresh Transactions carried out from the date of receipt of the notice. All Transactions authorised through your Password, PIN, and other security credentials, before receipt of notice of your death, shall be debited to your NayaPay Account accordingly. Subject to exercise of any remedy available to NayaPay, in its sole discretion, in the event of your death, custody of the funds present in your E-Money Account shall only be handed to your successors-in-interest upon receipt of a succession certificate issued in accordance with Applicable Laws.

You may access your Transaction history for a period of six (6) months after the closure of your NayaPay Account by contacting Customer Service and requesting the information. Your obligations with regards to keeping your NayaPay Account safe as set forth in section 5 shall continue to apply.

We reserve the right to carry out any necessary money laundering, terrorism financing, fraud or other illegal activity checks before authorising any withdrawal of your funds, including in relation to returning any funds to you after you have closed your NayaPay Account.

NayaPay reserves the right to terminate or suspend your account and its associated services with two months’ prior notice for any reason. Similarly, you have the freedom to terminate your account and its services whenever you choose, subject to the conditions outlined in section 6 regarding account closure.

Additionally, NayaPay may, without prior notice, terminate, suspend, or limit the functionality of your account and services under certain conditions, including but not limited to:

• Compliance with legal orders or laws, especially those related to anti-money laundering (AML), counter-terrorism financing (CFT), know your customer (KYC), and customer due diligence (CDD) requirements.
• If you violate any terms of use or additional terms and conditions applicable to specific services.
• If there is reasonable suspicion of unauthorized or fraudulent use of your account, or if its security features are believed to be compromised.
• If you are found to be in violation of applicable laws.
• If there is reasonable belief of your involvement in fraudulent activities, money laundering, terrorism financing, or other criminal activities.

These measures are taken to ensure the integrity and security of the NayaPay Platform and its users, adhering to regulatory requirements and protecting against misuse.

Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Islamic Republic of Pakistan, without regard to its conflict of law provisions.

Dispute Resolution

Any disputes arising out of or related to these Terms or the Services shall be resolved through binding arbitration in accordance with the arbitration rules of the jurisdiction in which NayaPay is registered.

Should you have any concerns or grievances regarding our services, we encourage you to reach out to our Customer Service team as your first point of contact. When doing so, please ensure to clearly indicate that you are lodging a complaint or initiating a dispute. This helps us distinguish between general queries and issues requiring formal resolution. Upon receipt of your complaint or dispute, we will promptly acknowledge it within 48 hours, in adherence to our designated Complaints and Disputes Handling Mechanism. You can readily access a copy of this mechanism at any time through the NayaPay Platform or by contacting our Customer Service department

Communication

Communication is vital for ensuring you stay informed about updates, promotions, and important notifications regarding your NayaPay account. Here's how we facilitate communication and ensure you receive timely information:

Notification Channels: We primarily communicate with you through email notifications and on-platform notifications. It's essential to check for messages regularly, at least once every twenty-eight (28) days, to stay updated. Messages may include links to additional information on our platform, and they are considered received on the same day if delivered.

Durable Medium: When required to provide information on a durable medium, we will either attach a document to our message or direct you to the relevant information on the NayaPay Platform. This ensures you can retain the information for future reference in a format of your choice. We recommend keeping copies of all communications for your records.

Accessing Documents: You can easily access the current versions of the Terms of Use, Additional T&Cs, Policies, and other relevant contractual documents on our website.

Security Measures: We never send messages with executable file attachments or links to such files. If you receive any such message, please delete it immediately without clicking on any attachments. If you're unsure about the origin of a communication, contact our Customer Service team for verification.

Notification Preferences: By default, you'll receive on-platform notifications or emails (if applicable) about new services, features, events, promotions, and special deals. You can manage your notification preferences by adjusting settings on the NayaPay Platform according to your preferences.

Communication with Customer Service: If you need to communicate with us for any reason, you can reach out to our Customer Service team via email, phone, contact form on our website, or directly through the NayaPay Platform. We're here to assist you promptly and effectively.

Ensuring clear and consistent communication helps us serve you better and keeps you informed about important developments related to your NayaPay account. If you have any questions or concerns, please don't hesitate to reach out to us.

General Provisions

Entire Agreement: These Terms constitute the entire agreement between you and NayaPay regarding the Services and supersede all prior agreements and understandings.

No Waiver: The failure of NayaPay to enforce any right or provision of these Terms will not be considered a waiver of those rights.

Changes: The Terms of Use, along with any Additional Terms and Conditions (T&Cs) and Policies governing the use of our services, are dynamic and may be updated to reflect changes in our operations, legal requirements, or user feedback. To ensure transparency and compliance, any modifications to these documents will be communicated to you following a predefined notification process outlined below:

Notification of Changes: We will provide you with notice of any intended changes to the Terms of Use, Additional T&Cs, or Policies. This notification will be issued in accordance with the communication procedures specified in subsequent sections, ensuring you are informed and prepared for any adjustments in how our services may be accessed or utilized.

Notice Delivery: The method and timing of delivering this notice will adhere to the standards set forth in the detailed notification procedure. Our aim is to provide you with ample time to review and understand the implications of any changes on your use of our services.

Effective Date: Changes to the Terms of Use, Additional T&Cs, or Policies will take effect immediately upon the delivery of the notice, unless otherwise specified. We encourage users to regularly review their communication from us and consult the updated documents as necessary to stay informed about their rights and obligations.

By continuing to use our services following the implementation of such changes, you agree to be bound by the revised terms. It's important to review any changes carefully and consider how they might affect your use of our services. If you have any questions or need further clarification regarding the changes, you are encouraged to contact our customer support for assistance.

1. Definitions

Unless specified otherwise, capitalized terms shall have the meaning ascribed to such terms in the Terms of Use (defined below).

Chat Service means the chat functionality of the NayaPay Platform which allows you to communicate with other users/account holders of the NayaPay Platform;

Customer means a consumer who opens and maintains a NayaPay Account and is registered on the NayaPay Platform;

Merchants means the person who is in the business of providing goods and/or services to consumers and who has accepted NayaPay Merchant T&C’s for receiving payments from Customers utilizing the NayaPay Platform;

NayaPay Platform means the electronic platform, whether accessed through a mobile application, handheld devices, portals, payment gateways or websites, or other means, developed and operated by NayaPay to open NayaPay Accounts and provide Services, and shall, for the purposes of this Privacy Policy, include the NayaPay Merchant Portal;

Personal Data personal information that can be associated with an identified or identifiable person. “Personal Data” can include name, postal address (including billing and shipping addresses), telephone number, email address, payment card number, other financial account information, biometric data, account number, date of birth, and government-issued credentials (e.g., driver’s license number, CNIC Number, , passport, and Taxpayer IDs). Personal Data does not include information that does not identify a specific individual;

Privacy Policy means this NayaPay Privacy Policy as amended from time to time;

Terms of Use means the terms and conditions applicable to Users and which may be accessed at here;

User refers to Customers and Merchants collectively.

2. Objective

The purpose of this Privacy Policy is to explain how we may collect, retain, process, share and transfer your Personal Data when you use our Services. This Privacy Policy applies to your Personal Data when you use our Services and does not apply to online websites or services that we do not own or control, including websites or services of Merchants.

This Privacy Policy is designed to help you understand our privacy practices in relation to the collection, use, processing, and, disclosure of your Personal Data and to help you understand your privacy choices when you use our Services.

Please contact us if you have questions about our Privacy Policy.

Our contact information is as follows:

3. Legal Requirements

NayaPay is licensed as an Electronic Money Institution by the SBP and is bound by its confidentiality obligations under Applicable Laws including, but not limited to the EMI Regulations, Payment Systems and Electronic Fund Transfers Act, 2007, and Protection of Electronic Crimes Act, 2016.

4. Scope

This Privacy Policy shall apply to all departments of the Company and employees of such departments who have access to Personal Data of the Users.

5. Policy Statement

Respect for your privacy is coded into our DNA. Since inception, we have aspired to build our Services with a set of strong privacy principles in mind.

NayaPay provides digital payment services, messaging, and other services to the Customers across Pakistan. Our, inter alia, Privacy Policy helps explain our information (including messages, transaction histories etc.) practices. For example, we talk about what information we collect and how this affects you. We also explain the steps we take to protect your privacy – like building NayaPay so that messages that have been delivered through our Chat Service are not stored, and giving you control over who you communicate with on our Services.

When we say “our,” “we,” or “us,” we refer to NayaPay. This Privacy Policy (“Privacy Policy”) applies to all of our Services, unless specified otherwise.

Please also read NayaPay’s Terms of Use, which describe the terms under which you use our Services.

What Personal Data do we collect?

NayaPay receives or collects information when we operate and provide our Services, including when you install, access, or use our Services. The information may have been provided by you or automatically collected by us, subject to your acceptance of our Terms of Use. The information consists of information you provide and/or information we collect and includes, but is not limited to, the following:

• Your Account information – When you register to use our Services by creating a Chat profile and establishing a NayaPay Account, we will collect Personal Data as necessary to offer and fulfill the Services you request.

  That information would include all necessary details required for the purpose of activating Chat profile and Payment Services, as required by the relevant regulations to perform customer due diligence, which would include the name, phone number, address, national identification documents, etc.

  We may require you to provide us with additional Personal Data as you continue to use our Services.

• Transaction and experience information – When you use our Payment Services, whether to send money to friends and family, to receive money, to make purchases from Merchants, or to process payments, we collect and save information about the Transaction, as well as other information associated with the Transaction such as amount sent or requested, amount paid for products or services, Merchant information, including information about source of funds used to complete the Transaction, device information, technical usage data, and geolocation and / or other relevant information.

• Participant information – When you use our Services, we collect and save Personal Data you provide to us about the other participants associated with the Transaction or Chat.

  • Send or request money: When you send or request money through the Services, we collect Personal Data about the participant who is receiving money from you or sending money to you. The extent of Personal Data required about a participant may vary depending on the Services you are using to send or request money.
  • Pay or request someone else to pay a bill: If you use our Services to pay a bill for the benefit of someone else, or if you request a User to pay a bill for you, we may collect Personal Data from you about the account holder such as name, postal address, telephone number, email address, and account number of the bill that you intend to pay or request to be paid.
  • Add money to your NayaPay Accounts: If you use our Services to add money to your NayaPay Account through the various available modes, or someone else adds money to your NayaPay Account, we may collect Personal Data from you about the other party, or from the other party about you to facilitate the request.
  • Your messages: We do not retain your messages in the ordinary course of providing our Services to you except for group Chat Services. Once your messages (including your chats, photos, videos, voice messages, files, and share location information) are delivered, they are deleted from our servers. Your messages are stored on your own device. If a message cannot be delivered immediately (for example, if you are offline), we may keep it on our servers for up to 30 days or till the message storage limit for the intended recipient is exhausted, as we try to deliver it. If a message is still undelivered after 30 days or if the message storage limit of the intended recipient is exhausted, we delete it. To improve performance and deliver media messages more efficiently, such as when many people are sharing a popular photo or video, we may retain that content on our servers for a longer period of time. We also offer end-to-end encryption for our Chat Services, except for group Chat Services. End-to-end encryption means that your messages are encrypted to protect against us and third parties from reading them.

• Information about your contacts – It may be easier for us to help you interact with your friends and contacts if you choose to sync or upload your contact list information to your NayaPay Account. If you choose to do so, we will collect and use the names, telephone numbers, addresses and email addresses in your contact list information, including those of users of our Services and your other contacts, on a continued basis to improve your experience when you use the Services. This information is used to identify which of your contacts in your device’s phone book are also NayaPay users and add them to your NayaPay contact book so you can chat and transact with them easily. We will also update your NayaPay contacts when your contacts who are not yet using NayaPay sign up later. You can control the contact sync feature from your app as well as device-based settings. Learn more about our contact syncing feature here.

• Information that you choose to provide us to obtain additional Services or specific online Services – If you request or participate in an optional site feature, or request enhanced Services or other elective functionality, we may collect additional information from you. We will update this Privacy Policy from time to time to cover information required to obtain additional Services or specific online Services as and when such Services are offered on the NayaPay Platform.

• Information about you from third-party sources – We obtain information from third-party sources such as NADRA, Merchants, and credit and other related data bureaus, where permitted by Applicable Laws.

• Other information we collect related to your use of our Sites or Services – We may collect additional information from or about you when you communicate with us, contact our customer support teams or respond to a survey.

Why Do We Retain Personal Data?

We retain Personal Data to fulfill our obligations under Applicable Laws and for our business purposes. We may retain Personal Data for longer periods than required by Applicable Law if it is in our legitimate business interests and not prohibited by Applicable Law. If your NayaPay Account is closed, we may take steps to mask Personal Data and other information, but we reserve our ability to retain and access the data for so long as required to comply with Applicable Law. We will continue to use and disclose such Personal Data in accordance with this Privacy Policy.

How Do We Process Personal Data?

We may process your information for the following reasons:

• To provide the Services, including:
  • Initiate and execute a Transaction;
  • authenticate your access to a NayaPay Account;
  • communicate with you about your NayaPay Account, the Services, or NayaPay;
  • connect a Linked Account which is maintained with a Partner Institution with the NayaPay Platform;
  • perform creditworthiness and other financial standing checks, evaluate applications, and compare information for accuracy and verification purposes;
  • keep your NayaPay Account and financial information up to date.
• To manage our business needs, such as monitoring, analyzing, and improving the Services’ performance and functionality. For example, we analyze your behavior and perform research about the way you use our Services.
• To manage risk and protect the NayaPay Platform, the Services and you from fraud by verifying your identity. NayaPay’s risk and fraud tools use Personal Data, device information, technical usage data and geolocation information from our NayaPay Platform and websites that offer NayaPay Services to help detect and prevent fraud and abuse of the Services.
• To market to you NayaPay’s risk and fraud tools use Personal Data, device information, technical usage data and geolocation information from our NayaPay Platform and websites that offer NayaPay Services to help detect and prevent fraud and abuse of the Services.
• To provide personalized Services offered by NayaPay on third-party websites and online services. We may use your Personal Data and other information collected in accordance with this Privacy Policy to provide a targeted display, feature, Services or offer to you on third-party websites. We may use cookies and other tracking technologies to provide these online services and/or work with other third parties such as Merchants, advertising or analytics companies to provide these online services.
• To provide you with location-specific options, functionality or offers if you elect to share your geolocation information through the Services. We will use this information to enhance the security of the Services and provide you with location-based Services, such as advertising, search results, and other personalized content.
• To comply with our obligations and to enforce the terms of our NayaPay Platform and Services, including to comply with all Applicable laws.
• To make it easier for you to find and connect with others, we may use your Personal Data and other information you have shared with the Service to suggest connections between you and people you may know. For example, we may associate information that we learn about you through your and your contacts’ use of the Services, and information you and others provide to suggest people you may know or may want to interact with through our Services. Social functionality and features designed to simplify your use of the Services with others vary by Service.
• To respond to your requests, for example to contact you about a question you submitted to our customer service team.

Do We Share Personal Data?

We may share your Personal Data or other information about you with others in a variety of ways as described in this section of the Privacy Policy for the purposes of and in connection with the use of the NayaPay Platform, NayaPay products and Services and general business purposes. Your Personal Data or other information will, at all times, be shared on a confidential basis and its usage will be restricted for the purposes for which it is shared or disclosed as provided in this Privacy Policy. We may share your Personal Data or other information for the following reasons:

With other members of the NayaPay corporate family: We may share your Personal Data with members of the NayaPay family of entities to, among other things, provide the NayaPay products or Services you have requested or authorized, or to provide products and services that are a part of our common or their individual public offering; to manage risk; to help detect and prevent potentially illegal and fraudulent acts and other violations of our policies and agreements; and to help us manage the availability and connectivity of NayaPay products, Services, and communications.

With other service providers/agents: We may share Personal Data with service providers and/or agents that provide us support and facilitate us in providing the Services or otherwise perform services and functions at our direction and on our behalf. These service providers may carry out functions in relation to the Services, for example, verify your identity, assist in processing transactions, data analytics and other monitoring and analyzing of data for improving the Services’ performance and functionality, send you advertisements for our products and Services, or provide customer support.

With other financial institutions: We may share Personal Data with other financial institutions that we have partnered with to jointly create and offer products / Services. These financial institutions may only use this information to develop, market and offer NayaPay-related products and Services. We may also share Personal Data to process transactions, provide you with benefits associated with your eligible cards, and keep your financial information up to date.

With the other parties to Transactions when you use the Services, such as other Users, Merchants, and their service providers: We may share Personal Data and other information about you and your NayaPay Account with the other parties involved in processing your Transactions. This includes other Users, Merchants and service providers you are sending funds to or receiving funds from, when you use the Services to pay for goods or services. The information includes:

• Personal Data and NayaPay Account information necessary to facilitate the Transaction and to comply with Applicable Laws;
• information to help other participant(s) resolve disputes and detect and prevent fraud; and
• aggregated data and performance analytics, including results of polls conducted from time to time in order to gauge consumer and merchant behavior to help Merchants better understand Users and to help Merchants enhance Users’ experiences.

With other third parties for our business purposes or as permitted or required by Applicable Law: We may share your Personal Data or other information about you with other parties for NayaPay’s legitimate business purposes or as permitted or required by Applicable Law, including:

• if we need to do so to comply with a subpoena, court order, direction, or other legal process or requirement under Applicable Law issued or initiated by law enforcement, regulators, government officials, or other third parties (in Pakistan) to or against NayaPay or one of its affiliates;
• when we need to do so to comply with credit card rules or other requirements and regulations of local and foreign card payment schemes;
• when we believe, in our sole discretion (acting reasonably), that the disclosure of Personal Data is necessary or appropriate to prevent physical harm or financial loss; or to report suspected illegal activity or to investigate violations of the Terms of Use or agreements with Merchants;
• to protect our property, Services and legal rights;
• to potential acquirers and merging entities or to otherwise facilitate a purchase or sale of all or part of NayaPay’s business;
• in connection with shipping and related services for purchases made using a Service;
• to help assess and manage risk and prevent fraud against us, our Users and fraud involving our NayaPay Platform or use of our Services, including fraud that occurs at or involves our business partners, service providers/agents, strategic ventures, or other individuals and Merchants;
• with Partner Institutions for the purpose of linked Partner Bank Accounts with NayaPay Accounts or as otherwise required under relevant agreements; and
• to support our audit, compliance, and corporate governance functions.

Otherwise With your consent: We do not share your Personal Data with third parties for purposes unrelated to the Services without your consent.

In addition, NayaPay may provide aggregated statistical data to third parties, including other businesses and members of the public, about how, when, and why Users visit our NayaPay Platform and use our Services. This data will not personally identify you or provide information about your use of the NayaPay Platform or Services. We do not share your Personal Data with third parties for purposes unrelated to the Services without your consent.

How Do We Use Cookies and Tracking Technologies?

When you access NayaPay Platform or use our Services, we may use cookies and other tracking technologies (collectively, “Cookies”) collected from you to recognize you as a User and to customize your online experiences, the Services you use, and other online content and advertising; measure the effectiveness of promotions and perform analytics; and to mitigate risk, prevent potential fraud, and promote trust and safety across our Services. Certain aspects and features of our Services are only available through the use of Cookies, so if you choose to disable or decline Cookies, your use of the Services may be limited or not possible.

Do Not Track (DNT) is an optional browser setting that allows you to express your preferences regarding tracking by advertisers and other third parties. We do not respond to DNT signals.

What Privacy Choices Are Available to You?

You have choices when it comes to the privacy practices and communications described in this Privacy Policy. Many of your choices may be explained at the time you sign up for or use a Service or in the context of your use of the NayaPay Platform. You may be provided with instructions and prompts within the experiences as you navigate the Services.

• Personal Data.You may decline to provide Personal Data when it is requested by NayaPay, but certain Services or all of the Services may be unavailable to you. If you have a NayaPay Account, you generally may review and edit Personal Data by logging in and updating the information directly or by contacting us. Contact us if you do not have a NayaPay Account or if you have questions about your NayaPay Account information or other Personal Data.
• Location and other device-level information. The device you use to access the NayaPay Platform or Services may collect information about you, including geolocation information and User usage data that NayaPay may then collect and use. For information about your ability to restrict the collection and use of such information, please use the settings available in the device.
• Finding and connecting with others. If available, you may manage your preferences for finding and connecting with others from your NayaPay Account of the Service you use.
• NayaPay Account Linking. If you authorize Partner Bank Account Linking to a NayaPay Account or NayaPay Platform or linking of your NayaPay Account to your other accounts (including social media accounts), you may be able to manage your connection preferences from your NayaPay Account or the Partner Bank Account or other platforms/websites. Please refer to the privacy notice and policies that governs the Partner Bank’s or other relevant platforms for more information on the choices you may have.
• Cookies. You may have options available to manage your cookies preferences. For example, your browser or internet device may allow you delete, disable, or block certain cookies and other tracking technologies. You can learn more by visiting AboutCookies.org. You may choose to enable these options but doing so may prevent you from using many of the core features and functions available on the NayaPay Platform or in relation to a Service. You may also have an option regarding the use of cookies and other tracking technologies when you use a Service or visit parts of the NayaPay Platform. For example, you may be asked if you want the Service or the NayaPay Platform to “remember” certain things about you, and we will use cookies and other tracking technologies to the extent that you permit them.
• Marketing: We may send you marketing content about our Services, products, products we jointly offer with Partner Institutions, as well as the products and services of unaffiliated third parties and members of the NayaPay corporate family through various communication channels, for example, email, text, pop-ups, push notifications, and messaging applications. If you do not wish to be notified of any of the aforementioned communication, you can disable the notification by changing the appropriate setting on the NayaPay Platform.
• Informational and Other: We will send, as per the Terms of User, communications to you that are required or necessary to send to Users of our Services, notifications that contain important information and other communications that you request from us. You may not opt out of receiving these communications.

How Do We Protect Your Personal Data?

We maintain technical, physical, and administrative security measures designed to provide reasonable protection for your Personal Data against loss, misuse, unauthorized access, disclosure, and alteration. The security measures include firewalls, data encryption, physical access controls to our data centers, and information access authorization controls. While we are dedicated to securing our systems and Services, you are, as per the Terms of Use, responsible for securing and maintaining the privacy of your password(s), MPIN and NayaPay Account/profile registration information and verifying that the Personal Data we maintain about you is accurate and current. We are not responsible for protecting any Personal Data that we share with a Partner Bank based on Partner Bank Account Linking that you have authorized.

What Else Should You Know?

Changes to This Privacy Statement.

We may revise this Privacy Policy from time to time to reflect changes to our business, or Services, or Applicable Laws. Such revisions will be notified to the Users through the NayaPay Platform. The revised Privacy Statement will be effective as of the published effective date. Continuing use of NayaPay’s Services shall be deemed as acceptance of the revised Privacy Policy by the Users. We also may notify Users of the change using email or other means.

Disclaimer: NayaPay is the sole owner of the domain @nayapay.com and is exclusively responsible for any activities, content, or transactions associated with this domain. NayaPay does not accept any responsibility for actions, content, or activities related to any other domains, including domains with similar names or any third-party websites. All responsibility for actions outside of the @nayapay.com domain rests with the respective parties involved.