DuitNow QR Terms and Conditions
In these DuitNow Terms and Conditions (“Terms”), references to “You,” “Your,” and “Yours” refer to the customer/Setel Wallet user who is utilising the DuitNow service and has an account with Setel, and references to “We,” “Our,” “Ours,” and “Us” refer to Setel Sdn Bhd. Capitalized terms herein, if not defined in these Terms, shall have the same meaning as defined in the Setel Wallet User Terms and Conditions.
Definitions
- Account means an E-money account offered by issuers of E-Money and all types of banking accounts offered by banks, except for fixed deposit accounts. This shall include, but is not limited to, all types of conventional and/or Islamic deposit accounts, current accounts, virtual internet accounts, and/or Islamic investment accounts. Additionally, it means all line of credit accounts tied to payment cards where transactions are made.
- Business Day means any calendar day from Monday to Friday, except a public holiday or bank holiday in Kuala Lumpur.
- “E-Money” means a payment instrument that stores funds electronically in exchange for funds paid to the issuer of E-money and is able to be used as a means of making payment to any person other than the issuer of E-money.
- Merchant means individuals, businesses including sole proprietors, partnerships, and companies registered with the Companies Commission of Malaysia, government agencies, statutory bodies, societies, and other similar legal entities.
- DuitNow QR means a service which facilitates industry-wide ubiquitous payments or credit transfer by scanning the QR Code which complies with DuitNow National QR Standard.
- DuitNow QR Owner & Operator means Payments Network Malaysia Sdn Bhd (Company No.: 200801035403 [836743-D]).
- Recipient means an individual who receives funds via the DuitNow QR Service.
- Static QR means a QR Code that is pre-generated for display and usually has no expiry. Static QR generally requires the individual to key-in the amount of the payment or credit transfer.
- QR Code means a two-dimensional barcode that can be read using the camera of a smartphone or mobile device that is equipped with a QR reader.
1. Introduction
1.1 These Terms apply to and regulate your use of the DuitNow QR Service offered by us. The DuitNow QR Service allows you to transfer funds from your designated Setel Wallet to a Merchant’s or Recipient’s Account by scanning the Merchant’s or Recipient’s QR Code.
1.2 The DuitNow QR Service offered by Setel is part of the Electronic Banking/e-Money Services, and accordingly, these Terms are in addition to and shall be read in conjunction with the Setel’s User Terms and Conditions which apply to Users of the Setel App and the Services provided.
2. DuitNow QR Service
2.1 To send funds via DuitNow QR, you must first download and install the Setel eWallet mobile application on your mobile device and select Setel Wallet to be used by Setel for deduction of funds for transactions made via DuitNow QR. Setel’s mobile application enables you to either perform a push payment by scanning a Static QR Code or a Dynamic QR Code displayed by the Merchant or Recipient.
2.2 You are responsible for ensuring that the transaction amount keyed-in or displayed on your mobile application screen is correct prior to confirming the transaction. The transaction amount keyed-in or displayed via the Merchant’s or Recipient’s QR Code shall be deemed by Setel to be correct upon your confirmation of the transaction. Setel is under no obligation whatsoever to verify that the amount paid by you matches with the Merchant’s or Recipient’s amount. We shall not be liable for any losses suffered by you for any inaccurate DuitNow QR transaction you initiate.
2.3 We will notify you of the status of each successful DuitNow QR transaction via any of the available communication channels chosen by you.
2.4 You acknowledge and agree that Setel shall have no duty to and shall not be required to take any steps to verify or seek any other confirmation from any party as to whether such Merchant or Recipient is the intended party to receive the funds, and Setel shall not be liable for transferring the funds to such Merchant or Recipient even if such person is not the intended party.
2.5 Pursuant to Clause 2.4 above, you agree that once a DuitNow QR transaction is confirmed, it will be deemed irrevocable, and you will not be able to cancel, stop, or perform any changes to that DuitNow QR transaction.
3. Recovery of Funds
3.1 You have rights in relation to the investigation and recovery of erroneous or mistaken DuitNow QR transactions as stated in Clause 4 and unauthorized or fraudulent DuitNow QR transactions as stated in Clause 5 made from your Account. However, Setel does not guarantee that any funds therefrom will always be recovered and Setel shall not be in any way liable for any such unrecoverable loss and the provisions of Clause 4 and 5 are made subject to this Clause 3. The recovery of any funds may be subject to fee charges.
3.2 You acknowledge that you are fully responsible to ensure that the usage of the DuitNow QR Service on your mobile device fully complies with these Terms and you shall safeguard your mobile device and take steps to ensure that no improper, illegal, fraudulent, and/or unauthorised transactions occur using the DuitNow QR Service. All DuitNow QR transactions occurring on your mobile device are deemed to have been initiated by you or with your consent, unless proven otherwise.
4. Erroneous or Mistaken DuitNow QR Transaction
4.1 If you have made an erroneous DuitNow QR transaction, you may request for recovery of the funds within ten (10) Business Days from the date the Erroneous Transaction was made and we will work with the affected Merchant or Recipient’s bank or issuer of e-money to return the said funds to you within seven (7) Business Days provided the following conditions are met:
4.1.1 The funds were actually wrongly credited into the affected Merchant’s or Recipient’s Account;
4.1.2 If funds have been wrongly credited, whether the balances in the affected Merchant or Recipient’s Account is sufficient to cover the funds recovery amount;
4.1.2.1 If the balances are sufficient to cover the recovery amount, the erroneously credited funds may be recoverable; and
4.1.2.2 If the balances are not sufficient to cover the recovery amount, the erroneously credited funds may not be fully recoverable.
4.2 For any request for recovery of funds between eleven (11) Business Days and seven (7) months from the date the Erroneous Transaction was made, we will work with the affected Merchant or Recipient’s bank or issuer of e-money to return the said funds to you within seven (7) Business Days provided the following conditions are met:
4.2.1 The affected Merchant or Recipient’s bank or issuer of e-money is fully satisfied that funds were erroneously credited to the affected Merchant or Recipient;
4.2.2 The affected Merchant or Recipient’s bank must deliver notifications to the affected Merchant or Recipients in writing regarding the funds recovery requests, whereby the erroneously credited funds would be recovered through debiting the affected Merchant or Recipients’ Account within ten (10) Business Days of the notifications unless the affected Merchant or Recipient provides reasonable evidences that the affected Merchant or Recipient is entitled to the funds in question. After fifteen (15) Business Days, if the affected Merchant or Recipient fails to establish their entitlement to the funds, the affected Merchant or Recipient’s bank or issuer of e-money shall debit the affected Merchant or Recipients’ Account and remit the funds back to you.
4.3 For any requests to recover funds after (7) months from the date of the Erroneous Transaction was made, we will work with the affected Merchant or Recipient’s bank or issuer of e-money to return the said funds to you within seven (7) Business Days provided the following conditions are met:
4.3.1 The affected Merchant or Recipient’s bank or issuer of e-money is fully satisfied that funds were erroneously credited to the affected Recipient;
4.3.2 The affected Merchant or Recipient’s bank or issuer of e-money shall obtain from the affected Merchant or Recipient the decision whether to grant consent within ten (10) Business Days; and
4.3.3 Once consent is obtained, the affected Merchant or Recipient’s bank or issuer of e-money shall debit the affected Recipient’s Account and remit the funds back to you within one (1) Business Day.
5. Unauthorized or Fraudulent DuitNow QR Transaction
5.1 For DuitNow QR transactions which were not authorised by you or which are fraudulent, we will, upon receiving a report from you alleging that an unauthorised or fraudulent DuitNow QR transaction was made, remit the funds back to you provided the following conditions are met:
5.1.1 We shall conduct an investigation and determine within fourteen (14) Calendar Days, if the unauthorised or fraudulent payment did occur;
5.1.2 If we are satisfied that the unauthorised or fraudulent payment instruction did indeed occur and was not caused by you or your negligence or carelessness, we shall initiate a reversal process whereby all debit posted to Your account arising from the unauthorised or fraudulent payment instruction would be reversed.
6. Liability and Indemnity
6.1 You acknowledge and agree that, unless expressly prohibited by mandatory laws, Setel and the DuitNow QR Owner & Operator shall not be liable to you or any third party for any losses, liabilities, costs, damages, claims, actions or proceedings of any kind whatsoever in respect to any matter of whatsoever nature in connection with the DuitNow QR Service offered by Setel arising from:
6.1.1 Your negligence, misconduct or breach of any of these Terms;
6.1.2 Insufficient funds in your Account for us to process the DuitNow QR transaction;
6.1.3 You have exceeded your daily transfer limit;
6.1.4 Any payment instruction given or purported to be given by you;
6.1.5 Any erroneous transfer of funds by you, including any transfer of funds to the wrong Merchant or Recipient or wrong third party; or
6.1.6 The suspension, termination or discontinuance of the DuitNow QR Service.
6.1.7 You did not take proper steps to ensure the accuracy of recipient information when initiating DuitNow peer-to-peer (P2P) transfers.
6.2 You shall indemnify Setel, our affiliates, and the DuitNow QR Owner & Operator, harmless from and against any loss or damage suffered due to any claim, demand, or action brought against us, our affiliates, and/or the DuitNow QR Owner & Operator resulting from any negligent and/or fraudulent act in relation to the DuitNow QR Terms and Conditions by you.
7. General
7.1 Setel reserves the right to revise at any time, such charges for the use of the DuitNow QR Service, by providing you with thirty (30) days written notice. Such revisions shall take effect from the date stated in the notice. Where you continue to access or use the DuitNow QR Service after such notification, you shall be deemed to have agreed to and accepted such revisions to such charges.
7.2 You acknowledge that Setel may terminate your use of the DuitNow QR Service for any reason, with prior notice.
7.3 You acknowledge that Setel has the right to change, restrict, vary, suspend, or modify these Terms by providing you with thirty (30) days’ notice in such manner as Setel deems fit.
7.4 You consent to the collection, use, and disclosure of your personal data (including contact details) by Setel, our affiliates, our service providers, and the DuitNow QR Operator as required for the purposes of the DuitNow QR Service. Please refer to Setel Group Privacy Policy for further information.
7.5 These Terms are governed by and shall be construed in accordance with the laws of Malaysia.
