VCASH
TERMS OF SERVICE
PLEASE READ THESE TERMS OF SERVICE CAREFULLY. YOU SHOULD NOT REGISTER FOR A VCASH
ACCOUNT OR YOU SHOULD IMMEDIATELY CEASE YOUR USE OF VCASH IF AT ANY TIME YOU DISAGREE
WITH ANY OF THE TERMS OF SERVICE HEREIN. YOUR REGISTRATION AND/OR CONTINUED USE OF
VCASH SHALL MEAN THAT YOU UNDERSTAND, ACCEPT AND AGREE TO BE GOVERNED BY ALL OF
VCASH’S TERMS AND CONDITIONS OF SERVICE. YOU MUST BE AT LEAST 18 YEARS OF AGE TO REGISTER
A VCASH ACCOUNT OR HAVE OTHERWISE OBTAINED AND PROVIDED YOUR PARENT OR LEGAL
GUARDIAN’S CONSENT.
PREAMBLE
The vcash services are provided by Y3LLOWLABS SDN BHD (535203-H), a wholly-owned subsidiary of
Digi Telecommunications Sdn Bhd (201283-M), in collaboration with VALYOU SDN BHD (766531-U).
These Terms of Service shall govern your access to and/or use of vcash
. As long as you abide by these
Terms of Service, you may use the vcash
services in accordance with the terms hereof.
We reserve the right to amend, modify, add or remove any provisions under these Terms of Service at
any time as we deem necessary. Changes shall become effective immediately upon upload and
publication by us on this site. Your continued use of vcash shall constitute your acceptance of the
prevailing Terms of Service including any term which may have been amended from time to time. You
are responsible to regularly check these Terms of Service for updates or amendments.
1. DEFINITIONS
For the purposes of these Terms of Service, the following expressions or capitalized words when used
herein shall have the following meaning:-
(a) BNM” refers to Bank Negara Malaysia;
(b) “e-money” or “electronic money” refers to electronically stored funds in exchange for monies paid
which may be used as a payment instrument or for other transactions with participating
merchants;
(c) “merchants” refers to parties or entities which accept e-money transactions through vcash for
their goods, products and/or services;
(d) “Terms of Service” refers to these terms and conditions for the vcash services as amended from
time to time and shall include the terms of our Privacy Notice and other conditions governing the
use of vcash
;
(e) vcash
refers to the telco agnostic digital wallet operated by Y3llowlabs Sdn Bhd (535203-H) in
collaboration with Valyou Sdn Bhd (766531-U). vcash is a payment instrument made available on
mobile devices which also facilitates various e-money services including deposits/withdrawals,
peer-to-peer transfers, in-app purchases, bill payments, and such other features as we may add
from time to time;
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(f) “we” (and its cognate forms) refers to Y3llowlabs Sdn Bhd (535203-H), and where the context so
admits, shall include Valyou Sdn Bhd (766531-U);
(g) “you” (and its cognate forms) refers to the party in whose name the vcash account is registered
and/or the vcash
wallet user.
2. VCASH
ACCOUNT & SERVICES
2.1 By registering for an account, you warrant and represent that you have attained 18 years of age
or above. In the event that you are below the age of 18 years, you shall obtain your parent or
legal guardian’s consent and provide us with their details. Your parent or legal guardian shall be
responsible for your use of the vcash services. You undertake not to use vcash if you do not have
your parent or legal guardian’s consent.
2.2 You represent and warrant that all information provided to us towards your vcash account is
true, accurate and complete, and you agree to provide us with up-to-date information of yourself
including such identification, verification or other documentation as we, BNM or other lawful
authorities may request from time to time. We have the right to reject your application for a
vcash
account without the need to provide any reason.
2.3 You are responsible for maintaining the security of your log-in details, passcode and other
information in relation to your vcash account. You shall not share any details with other parties
and shall immediately change your passcode and inform us if your account has been in any way
compromised or you suspect any unauthorised access or use of your vcash
account.
2.4 You are responsible to check your transaction history regularly. The transaction history on your
mobile device is final and conclusive.
2.5 Your vcash account is personal to you. No person other than you shall have any right of claim
from us to the e-money or other benefits stored in your vcash account. Any instructions,
confirmation and/or communication sent from your account or device shall be deemed to have
been issued by you irrespective of whether such instructions, confirmations and/or
communications were actually sent by you. You are responsible to secure your account.
2.6 You acknowledge and agree that your vcash account does not constitute a banking account or
any form of term deposit. No interest, dividends or other payments shall be accumulated or
payable to you on the e-money or other benefits held in vcash
.
2.7 You may not assign, transfer or subcontract any of your rights or obligations under these Terms
of Service to a third party.
2.8 You agree not to hold us liable for any loss or damage whatsoever arising from your failure to
keep information relating to your vcash account secure and confidential, or for any acts or
omissions under your account or from your use of vcash
.
2.9 You shall at all times ensure that you have sufficient funds to carry out any intended transaction.
If for any reason your account stands in negative balance, you agree that this shall constitute a
debt owing from you to us and repayable immediately by way of reload or deposit. Your failure
to do so promptly shall constitute a breach of these Terms of Service and we shall be entitled to
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proceed with such action as we deem fit including suspension or termination of your account and
commencement of legal action against you.
2.10 You agree that we may impose a limit on the amount of e-money held in your vcash account, or
the number of transactions you may execute in a specific period of time, or to impose a limit on
each transaction amount.
2.11 You undertake that you will not at any time use or attempt to use vcash to bypass or circumvent
any restriction or requirement imposed by BNM or the banking, payment card or financial
services industry. You further agree that we are entitled without notice to impose restrictions,
suspend or stop transactions, or limit the amount of deposits or withdrawals made by you via
credit and/or debit cards through the vcash
services.
2.12 We reserve the right without notice and liability to you to suspend, modify or discontinue,
temporarily or permanently, the vcash services or any feature or part thereof, at our reasonable
discretion.
2.13 We may suspend your vcash account without liability whatsoever to you, with or without notice,
for purposes including but not limited to: (a) system maintenance; (b) suspicious activities; (c)
insufficient funds; (d) at the request of BNM or other lawful authorities; (e) compliance checks
and audits; or (f) such other reason as we deem prudent or necessary. If this occurs, you accept
that you will not be able to effect transactions through vcash and you agree not to hold us liable
in any way for any interruption. We may also terminate or close your account with us at any time
in accordance with these Terms of Service.
3. USE OF VCASH
3.1 You agree to the following terms in relation to your use or the operation of your vcash
account:-
(a) You agree to use vcash
for valid and legal purposes only;
(b) You will not use or attempt to use vcash or any offers made under vcash in any way or for
any purpose other than as intended or offered by us;
(c) You warrant and represent that all funds received or channeled through your vcash account
shall originate from legitimate sources or activities;
(d) You will not do anything which disrupts, interferes or interrupts with the proper operation of
vcash
;
(e) You will not attempt to defraud, infect or spam the system, manipulate the services or
attempt to obtain any unlawful or fraudulent gains under the vcash services or any offer
made from time to time;
(f) You will not use vcash in any way which undermines or infringes on our rights or the rights of
any third party;
(g) You agree not to use vcash to engage in money-laundering, terrorism financing, drug
trafficking, wagering or other fraudulent, illegal or criminal activities;
(h) You agree to comply with all applicable laws and regulations in connection with any
transaction effected through vcash
.
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3.2 We reserve the right, with or without prior notice to you, to take any one or more of the
following actions in the event that you are in breach (or we have reasonable cause to believe that
you are in breach) of your use of vcash or any provision under these Terms of Service, or we have
reasonable grounds or suspicion that you are using vcash or any of its features or promotions in a
manner contrary to its intended purpose:-
(a) We may decline to perform or allow a transaction to be performed or completed;
(b) We may reverse the transactions which have been performed or completed;
(c) We may suspend and/or terminate your vcash
account;
(d) We may levy a fee or claim damages or other losses from you;
(e) We may report the transaction to relevant authorities or law enforcement agencies; and/or
(f) We may take such other action as we may deem necessary or commensurate with the
nature or extent of the breach, abuse or misuse.
3.3 You agree that it is your responsibility to ensure that you have sufficient funds in your vcash
account to effect a transaction, that the funds are transferred to the correct intended third party,
as well as the legality of your transactions. You undertake not to hold us liable for losses or
damages you may suffer on account of any of any misuse, whether intended or otherwise.
3.4 You agree not to hold us liable in any manner whatsoever in the event of a dispute between you
and a merchant or other third parties unless it is manifest that such dispute arose from a breach,
default, error or omission on our part under these Terms of Service.
4. SUSPENSION & TERMINATION
4.1 We may without notice or liability suspend the vcash services from time to time in the event of
any security concerns or unexpected technical, system, maintenance, modifications, fixes, bugs
or other related issues.
4.2 We may without notice or liability suspend your vcash account at any time in the event of any
suspicious or fraudulent activity or your violation of any of the terms herein.
4.3 Your vcash account may be suspended in the event that it is dormant or no transactions have
been effected by you through vcash for a period in access of six (6) months. You will be required
to contact us to reactivate your account and we reserve the right to charge a reactivation fee.
4.4 You agree that we may at any time, with or without prior notice as we deem fit or necessary and
without any liability to you, suspend or terminate your vcash account or the vcash services
generally for causes including but not limited to the following:-
(a) your breach of any of these Terms of Service;
(b) we have reason to believe that your account is used in connection with any fraudulent,
criminal or other illegal activities;
(c) if we detect any actual or attempted misuse or abuse of our services or of the banking,
payment card or financial services industry through our services;
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(d) if we cease for whatsoever reason to provide any or all of the vcash
services;
(e) if we are no longer in possession of the requisite approval or licence for the issuance of
e-money; and/or
(f) at the request of BNM or any governmental or law enforcement body or agency.
4.5 You may terminate your account with us at any time by removal of the app. from your mobile
device. In the event that we terminate your account with us, all pending transactions and any
fees or sums due to us or other parties will be processed and deducted prior to effective
termination. Any remaining positive balance due to you may be encashed and/or deposited into
your nominated bank account but subject always to satisfactory security verification and
provided always that there are no pending disputes, claims or lawful reasons for us to hold or
retain any sums.
5. DISCLAIMER
VCASH SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. WE MAKE NO
REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, THAT THE SERVICES OR ANY FEATURE
THEREOF SHALL ALWAYS BE RELIABLE, TIMELY, SECURE OR DEFECT FREE, OR THAT THE SERVICES
WILL BE UNINTERRUPTED AND AVAILABLE AT ALL OR ANY PARTICULAR TIME OR LOCATION. YOU
ACCEPT THAT WE DO NOT REPRESENT OR WARRANT THAT THE PLATFORM, SYSTEM OR
SOFTWARE WILL BE ERROR-FREE AT ALL TIMES. YOU ARE ALSO AWARE AND ACKNOWLEDGE
THAT THE SERVICES RELY ON THIRD PARTY TECHNOLOGIES AND FACILITIES INCLUDING WIRELESS
CONNECTIVITY WHICH ARE NOT WITHIN OUR CONTROL. YOU ACKNOWLEDGE THE
CHARACTERISTICS AND LIMITATIONS OF DIGITAL AND WIRELESS NETWORKS AND THAT DATA
MAY BE CORRUPTED, DELAYED OR LOST DESPITE SECURITY AND OTHER MEASURES TAKEN BY US.
YOU AGREE NOT TO HOLD US LIABLE FOR ANY FAILURES AS HIGHLIGHTED ABOVE.
YOU EXPRESSLY AGREE THAT YOUR USE OF THE SERVICES IS AT YOUR SOLE RISK AND DISCRETION
AND YOU WILL ASSUME TOTAL RESPONSIBILITY THEREFOR. YOU WILL RELY ON YOUR OWN
REVIEW AND EVALUATION OF THE SERVICES TO ASSESS ITS SUITABILITY FOR YOUR PARTICULAR
PURPOSE. YOUR SOLE REMEDY AGAINST US IN THE EVENT OF DISSATISFACTION IS TO CEASE
USING THE SERVICES.
6. LIABILITY
6.1 Our obligations hereunder relate strictly to the operation of a mobile wallet and the issuance of
e-money and its related services. We shall not be liable for the goods, services or any
transactions which you conduct with merchants or other parties via your vcash account. You shall
resolve all and any dispute whether as to quality, safety, merchantability, legality or any other
matters directly with the relevant merchant or third party.
6.2 You shall be solely responsible for any fees charged by merchants, banks or other third parties,
and/or the payment of goods and services tax (GST) and any other duties or charges arising from
the transaction undertaken by you with merchants and third parties.
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6.3 We shall not be responsible in the event that your vcash account is compromised due to your
failure to keep your log-in details, passcode and/or PIN secure.
6.4 You should promptly notify us in the event of any irregularities. We are however under no
obligations whatsoever to effect any transaction reversal or refund unless our investigations
reveal an error in our system or a default or omission on our part.
6.5 To the fullest extent permitted by law, we, including our directors, officers, employees and
affiliated companies, will not liable to you or any third party for any loss or damages whatsoever,
whether direct, indirect, consequential, punitive, exemplary or incidental arising out of or in
connection with your vcash account or the failure of vcash to operate, including without
limitation loss of opportunity or goodwill or revenue, damage to property, injury to person or
death, theft or fraud. Your acceptance of this limitation is an essential term of your use of vcash
and our services and you acknowledge that we would not have otherwise agreed to provide the
vcash
services to you without your agreement to this term.
7. INDEMNITY
You agree to indemnify us, our directors, officers and employees and our affiliated companies to
the fullest extent possible, from and against any and all liabilities, costs, demands or claims
whatsoever on a full indemnity basis, which may be made by any third party or suffered by us
due to a breach by you of these Terms of Service, or arising in any way from your default, acts,
omissions and/or negligence in connection with the vcash
services.
8. INTELLECTUAL PROPERTY RIGHTS
8.1 You shall use vcash strictly in accordance with these Terms of Service and shall not: (a)
decompile, reverse engineer, disassemble, attempt to derive the source code or decrypt the
vcash application; (b) make any modification, adaptation, improvement, translation or derivative
work from the application; (c) violate any applicable laws, rules or regulations in connection with
your access or use of the vcash application; (d) remove, alter or obscure any proprietary notice
in connection with the application; (e) use the application for any revenue-generating endeavor,
commercial enterprise or other purposes for which it was not designed or intended; (f) use the
application for creating a service, product or software which directly or indirectly competes or
substitutes the vcash services; (g) use the application to send out spams or unsolicited emails; or
(h) use any of our intellectual property or other proprietary information in the design,
development of distribution of any applications, accessories or devices for use with vcash
.
8.2 You should assume that all software and collaterals in connection with vcash
, and all graphics,
text, photographs, artwork, logos, user interfaces, sounds, music, computer code and other
materials in this website or our vcash application, including but not limited to our logos, the
design, “look and feel”, expression and arrangement of the website and application, is owned,
controlled by or licensed to us and/or protected by copyright, trademark or other intellectual
property rights. Save as expressly provided herein, no license is granted to you by implication,
estoppel or otherwise with respect our intellectual property and you may not use, copy,
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reproduce, transmit or distribute any component or part of our intellectual property without our
prior written consent.
9. PRIVACY NOTICE & DATA PROTECTION OBLIGATIONS
9.1 You agree to our Privacy Notice incorporated herein by reference and accept that it forms an
essential and integral part of these Terms of Service.
9.2 You consent to our use of your personal data in accordance with the terms of our Privacy Notice
and prevailing privacy policies. You agree that by registering an account with us and/or using
vcash
, you have authorised and consented to your personal data being disclosed to and/or
processed by such third parties as may be necessary for the purposes of providing the vcash
services to you.
9.3 You grant us consent to confirm your personal data with other entities or agencies in order to
verify your identity and/or to comply with any legal or regulatory requirements in connection
with vcash
services.
9.4 You accept that we may be required to revise our Privacy Notice and/or policy from time to time.
All revisions will be promptly notified through our website. Your continued use of vcash services
shall mean that you have agreed and consented to our Privacy Notice and policy as revised.
9.5 In the event that we are provided with personal data of minors that are linked to your account or
mobile device, you undertake and warrant that you are the legal guardian of the minor and
expressly consent to the processing of the minor’s personal data for the purposes of the services.
You personally accept and agree to take responsibility on his/her behalf and to be bound by
these Terms of Service and our Privacy Notice.
10. GENERAL PROVISIONS
10.1 If any provision of these Terms of Service is found to be invalid, void or unenforceable under any
applicable law, such provision shall be excluded or deemed deleted to the limited extent
necessary and replaced with a valid provision that best embodies the intent of these Terms of
Service. The remaining provisions herein shall not be affected and shall continue to apply to the
fullest extent.
10.2 Our failure to enforce or insist on strict performance of any of these Terms of Service shall not be
construed as a waiver of any provision or right herein unless such waiver is made in writing, nor
shall any course of conduct between us or any other party be deemed to modify any provision of
these Terms of Service.
10.3 These Terms of Service may not be construed or interpreted to confer any rights or remedies on
any third parties. These Terms of Service shall be binding on your successors-in-title and
permitted assigns.
10.4 Where any term hereof by its sense, nature or context is intended to survive the closure of your
vcash account or termination of the agreement between us, such term shall continue in full force
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and effect to be binding on you, including, without limitation, terms as to representations,
warranties, indemnities, limitation of liabilities, intellectual property rights and personal data.
10.5 We will not be responsible for any delay or failure in the performing our obligations herein due to
an unforeseeable event or causes which are not within our reasonable control (force majeure).
Force majeure events shall include without limitation acts of sabotage, fire, natural catastrophes,
legislative or regulatory changes or directives, and failure or interruption of utilities such as
electricity, telecommunications, internet service providers, banking systems or other third party
providers.
10.6 We may assign, transfer, subcontract and/or novate our rights or obligations under these Terms
of Service as we deem fit or necessary subject only to prior notice to you by publication herein.
10.7 In the event of a dispute between the English and non-English versions of these Terms of Service
(if any), the English version shall be the prevailing and governing document.
10.8 These Terms of Service shall be governed and construed in accordance with the laws of Malaysia
and in the event of any legal proceedings arising out of or in connection herewith, you agree to
submit to the exclusive jurisdiction of the courts of Malaysia.
Last Updated: <23/07/2018>
Version: v2.1_July2018
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