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. IF YOU ARE BETWEEN THE AGES OF 12-18 YEARS, YOU MAY REGISTER A VCASH ACCOUNT WITH 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 or use of vcash. As long as you abide by these Terms of Service, we grant to you a revocable, non-transferable, non-exclusive and limited right to use our 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 without prior notice to you. 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 any update or amendment to terms.

 

1.              DEFINITIONS

For the purposes of these Terms of Service, the following expressions or capitalized words when used herein shall have the following meaning:-

        ¡°BNM¡± refers to Bank Negara Malaysia;

        ¡°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;

        ¡°merchants¡± refers to parties or entities which accept e-money transactions through vcash;

        ¡°Terms of Service¡± refers to these terms and conditions for the vcash services and shall include the terms of our Privacy Notice and other applicable provisions linked hereto and governing the use of vcash;

        ¡°vcash¡± refers to the telco agnostic digital wallet operated by Y3llowlabs Sdn Bhd (535203-H) in collaboration with Valyou Sdn Bhd (766531-U) which can be downloaded via the ¡®vcash MY¡¯ mobile application. vcash facilitates various e-money services including deposits/withdrawals, peer-topeer transfers and as a payment instrument. It also offers in-app purchases, loyalty card storage and such other features as we may add from time to time;

        ¡°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);

        ¡°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 are 18 years of age or above. In the event that you are below the age of 18 years, you will be required to additionally present your parent or legal guardian¡¯s identification document by way of proof of consent. Your parent or legal guardian shall be deemed to have agreed to be bound to these Terms of Service on your behalf. 

2.2 You may only register one (1) vcash account under each Malaysian mobile phone number. 2.3  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, personal identification number (PIN), touch ID and other information or feature in relation to your vcash account. You shall not share any details with other parties and shall immediately change your PIN or identification feature 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. Any irregularities should be reported to us immediately. We shall not be obligated to investigate any disputed transactions in the event that it is reported to us in excess of 7 days following the date of the transaction.

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 stored in your vcash 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 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 without our prior written consent.

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 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.

2.11 We reserve the right without liability to you to modify or discontinue, temporarily or permanently, the vcash services or any feature or part thereof, at our absolute discretion.

2.12 We may suspend your vcash account with or without notice and without liability to you for purposes including but not limited to system maintenance, suspicious activities, insufficient funds, at the request of BNM or other lawful authorities, compliance checks and audits or 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 operation of your vcash account:-

(a)      You agree to use vcash for valid and legal purposes only. You will not use or attempt to use vcash in any way or for any purpose other than as intended or offered by us;

(b)      You agree not to use vcash to engage in money-laundering, terrorism financing, drug trafficking, wagering or other fraudulent, illegal or criminal activities. You warrant and represent that all funds received or channeled through your vcash account shall originate from legitimate sources or activities;

(c)       You will not do anything which interferes or interrupts with the proper operation of vcash;

(d)      You will not use vcash in any way which undermines or infringes on our rights or the rights of any third party;

(e)      You agree to comply with all applicable laws and regulations in connection with any transaction effected through vcash.

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 to do or refrain from doing any of the following:-

(a)     We may decline to perform or allow a transaction to be performed or completed;

(b)      We may reverse any transaction which may 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

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 the foregoing.

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 us under these Terms of Service or a failure of the vcash systems.

 

4.              SUSPENSION & TERMINATION

4.1 We may 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. Insofar possible, we shall provide to you reasonable prior notice.

4.2 We may also 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 will 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 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 and as we deem fit or necessary, 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 cease for whatsoever reason to provide any or all of the vcash services;

(d)      if we are no longer in possession of the requisite approval or licence for the issuance of emoney; and/or 

(e)      at the request of BNM or any governmental or law enforcement body or agency.

 4.5 All pending transactions and any fees or sums due to us or other parties will be processed and deducted prior to the closure of your vcash account.  Thereafter, any remaining positive balance will be encashed and 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 UP-TO-DATE OR 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 promptly notify us in writing with sufficient details in the event that you erroneously input the wrong transaction amount, transferee details or other requisite information. We may assist to investigate but shall not be obligated to reverse the transaction. You understand and accept that the consent of other parties may be involved for any reversals or refunds and you shall resolve the matter directly with the said party if necessary.

6.3 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.

6.4 We shall not be responsible in the event that your vcash account is compromised due to your failure to keep your log-in details, password and/or PIN secure. You should promptly notify us in any such event in order that we may reasonably assist to stop or arrest any unauthorised use, including suspending your vcash account.

6.5 You shall report to us any dispute relating to your transaction history within 7 days following the date of the disputed transaction, failing which all transactions shall be deemed correct and final and no further queries will be entertained. We will investigate any dispute raised by you within the stipulated period, but shall be under no obligation to effect any reversal or refund unless our investigations reveal an error in our system or default on our part, or the consent of the affected third party, if necessary, has been duly given.

6.6 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 due to a breach by you of any of these Terms of Service, or arising in any way from or in connection with your default, omissions, negligence or use of 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 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, 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 Our Privacy Notice is incorporated into these Terms of Service by reference. You agree to our Privacy Notice and accept that it forms an essential and integral part of these Terms of Service. You consent to our use of your personal data in accordance with the terms of our Privacy Notice and our prevailing privacy policies.

9.2 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 third parties 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 the personal data of minor children under your care is provided to us, you expressly consent to the processing of the child¡¯s personal data for the purposes of the services and as disclosed herein and personally accept and agree to be bound by our Privacy Notice and to take responsibility on his/her behalf.

 

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.

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 and effect to be binding on you, including without limitation terms as to representations, warranties and indemnities given by you, our intellectual property rights, personal data protection and limitation of liability.

10.5 We will not be responsible for any delay or failure in the performing our obligations herein due to an unforeseeable event or cause which is not within our reasonable control (force majeure). Force majeure events shall include without limitation acts of sabotage, fire, natural catastrophes, regulatory changes or directives, and failure or interruption of utilities such as electricity, communications or internet service providers or banking systems.

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.

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 version.

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:    28 August 2017