1.DEFINITION OF TERMS
Agreement: means this the Agreement between the parties including the Schedule of the Fees, as revised by MadfoatCom from time to time.
CBJ: means the Central Bank of Jordan The service shall mean the service of payment through the mobile wallet Dormant Account means a mobile money account with no customer-initiated Transactions for an uninterrupted period of One [1] year.
E-money: means the electronic monetary value depicted in your Account representing an equal amount of Cash held by MadfoatCom as trustee and which may be redeemed for an equal amount of.
Cash Fees: means all fees and charges for the use of the Service, as published by MadfoatCom and included in the Schedule of Fees.
Merchant/Agent: means a person or entity who enters into an agency agreement with MadfoatCom to provide the Service directly to Clients on behalf of MadfoatCom.
Mobile wallet Account: means a store of value provided by MadfoatCom for the purposes of conducting transactions related to the Service.
Mobile Number: is any local mobile in Jordan which is a unique number used to identify the Client on a mobile network Schedule of Fees means the list of Fees to be paid by the Client for the use of the Service, which are publicly made available by MadfoatCom and Agents Client means the individual person or juridical entity, party to this Registration Agreement who has duly registered to avail of the Service and will be registered with the national phone exchange through the MadfoatCom for the purposes of use of mobile phone-payment service Transaction shall generally refer to both Financial Transactions and Non-Financial Transactions.
2. USE OF THE SERVICE
2.1 Client Identity and Qualifications
a. Client must provide MadfoatCom with sufficient documents to satisfy proof of identity in accordance with the criteria set by MadfoatCom and CBJ.
b. In order to avail of any and all of the Services, Client must have an active any mobile SIM in Jordan.
c. The Client must have an active SIM card to access your Account.
d. An applicant must be at least 18 years old.
2.2 Rights and Obligations of the Client
a. The Client shall verify details of all withdrawal and deposit transactions made on his account through following confirmation messages sent to his number after every transaction. The Client acknowledges that MadfoatCom shall not be responsible for any error and/or deficiency and/or negligence by the Client, and MadfoatCom shall not be responsible for any consequential damages and/or expenses and/or claims.
b. The Client acknowledges that he has reviewed the monthly ceilings for transactions of mobile phone payment as provided under the legislation issued by the Central Bank as may be amended from time to time.
c. The mobile phone-payment service shall be provided inside the Hashemite Kingdom of Jordan and only for Jordanian dinar.
d. The Client shall grant MadfoatCom an absolute and irrevocable authorization to record any transaction performed on the Client’s Wallet account with the MadfoatCom.
e. Client shall keep his password confidential and not disclose it to any third party, including agents.
f. When using a transaction requiring PIN, Client shall keep this PIN confidential and disclose it solely to the intended recipient of funds. Client shall not disclose the PIN to any party other than the intended recipient, including Agents.
g. Client shall notify MadfoatCom immediately in case Client’s mobile phone or SIM is stolen, in order for MadfoatCom to block the mobile wallet account number registered on the SIM. The registered mobile wallet account is an access mechanism, and by blocking the account, the Service is suspended and unauthorized transactions are prevented.
h. If anyone obtains Client’s PIN and is able to access the SIM and registered mobile wallet account of the Client, it will be presumed that such person accessing the mobile wallet account is the Client himself or his authorized representative.
i. Client may not cede, assign or transfer in any way any of his rights and obligations under this Agreement or the use of the Service without the express and prior consent of MadfoatCom. j. Client shall not use the Services for any abusive, illegal, fraudulent or criminal purpose, including money laundering and terrorist financing.
k. The Client must provide sufficient proof of identification as directed in the Mobile wallet Services Regulation.
l. The Client must not provide any false, inaccurate, incomplete or misleading information.
m. MadfoatCom may reject your application at its discretion if any of the Account opening requirements are not met or if the Client fail to provide satisfactory proof of identification.
2.3 Mobile Financial Services Fraud
a. In case Client has probable cause to believe that he has been a victim of a fraud involving unauthorized and/or suspicious use of his mobile wallet Account, Client shall immediately report such incident to MadfoatCom through the nearest Agent or file a written report or call the MadfoatCom to orally report the incident.
b. Client shall cooperate with MadfoatCom and the proper authorities in conducting the investigation of the alleged fraud report.
c. Client shall provide all necessary information to which MadfoatCom reasonably requires in order to manage cases of fraud, money-laundering or terrorism financing risk or to comply with any laws in Jordan and Client agree that MadfoatCom may disclose any information concerning the Client to any related company or regulatory agency or court where required by any such law, in Jordan.
2.4 Rights and Obligations of MadfoatCom:
a. MadfoatCom shall provide the Service to Client and ensure that the Service is available to the Client for use at all time, excepting technological difficulties beyond MadfoatCom’ s control.
b. MadfoatCom shall have the right to suspend or block a mobile wallet account in accordance with Clause 4 below. b. MadfoatCom has the right to impose limits on transactions and account balances in accordance with CBJ regulations or its own policies and procedures. Information about these limits will be available at Agents locations, via the App or call center.
c. MadfoatCom may from time to time amend the Services offered or the terms and conditions related to the use of the Service. Client will be notified of material changes only, within a reasonable period of time of the changes to the Service or its terms and conditions of use.
d. MadfoatCom may communicate with Client from time to time using short message service (“SMS”) without guaranteeing the accuracy or arrival of such SMS. MadfoatCom will only use designated numbers or channels to contact Client. MadfoatCom shall not be liable for any loss, expense, claim or damage whatsoever caused to the Client arising from any delay or failure by Client to receive such SMS.
e. MadfoatCom makes no representation or warranty, whether express or implied, as to the operation and functionality of the Service.
f. MadfoatCom shall not be held responsible for any transactions or matters processed through an unauthorized MadfoatCom Agent.
g. the Client agree that all records of the system are certified and authenticated and are deemed to be decisive binding upon him, where he may no object before any authority whatever . the clients also agree that the electronic record ,maintained and extracted through the system is the approved electronic in case of any dispute .
h. The Client shall review mobile phone-payment instructions, the operational framework and the directions issued by the Central Bank in this regard as may be amended from time to time.
3. SERVICE FEES AND OTHER CHARGES
3.1 MadfoatCom shall charge fees for the provision of the Services in accordance with the Schedule of Fees which shall be made publicly available at the Agent locations and MadfoatCom APP.
3.2 MadfoatCom shall have the right to change the Fees from time to time.
4. TERMINATION OF SERVICE
4.1 MadfoatCom may at any time and without cause terminate this Agreement by providing the client with 30 days’ notice via SMS, in writing or any other means.
4.2 MadfoatCom may at any time, terminate this Agreement and the use of Services by Client under the following circumstances:
a. Client has breached the terms and conditions of this Agreement including his warranties under this Agreement.
b. Client’s mobile wallet account remains dormant for a period of 1 years.
c. Client’s mobile wallet account has been a subject of investigation under Clause 2.3 of this Agreement.
4.2 In the event of such termination under Clause 4.2, MadfoatCom will provide Client with 7 days’ notice via SMS, in writing or any other means.
4.3 In case of termination by reason of fraud and other causes under Clause 2.2, MadfoatCom reserves the right to exercise other rights and remedies available to it under relevant laws and regulations in addition to terminating this Agreement and the provision of the Service without any notice.
4.4 All outstanding fees and obligations of the Client shall remain payable after termination of this Agreement. MadfoatCom reserves the right to set off any unpaid transactions or fees from any other account held by Client with MadfoatCom.
5. CLIENT LIABILITY
5.1 Client shall be responsible for giving correct information and instructions when registering beneficiaries or payees for its mobile wallet Account. MadfoatCom will not be responsible for any loss or damage caused by Client’s fault, either in setting up the beneficiary or payee or in making erroneous payments using the Service.
6. PRIVACY Policy: MadfoatCom may use Client information to:
6.1 Manage Client account, carry out Client -care activities and train our staff.
6.2 Monitor the quality and security of the network and test and maintain our IT systems.
6.3 Analyze Client use of the services for marketing purposes and ,marketing research.
6.4 Disclose information to the Government Authorities or law enforcement authorities as required by Jordan Law.
6.5 Contact Client through SMS , emails or any other means regarding marketing the Company’s exiting product or any new Products in the future.
6.6 Client has the right to request sight of, and copies of, any and all his/her records that we keep, on the proviso that we are given reasonable notice of such a request.
6.7 The client agrees to the collection and use of information in accordance with this policy.
7. GENERAL PROVISIONS
7.1 This Agreement , the provision of the Services and any dispute related to these terms and conditions and service shall be governed by Jordan law.
7.2 This Agreement is made in Arabic and English. In the event of a dispute as to the terms of this Agreement the Arabic version shall prevail.