TERMS AND CONDITIONS of iPay CAMBODIA

I. General Terms & Conditions

1. These terms and conditions (Agreement) are entered between you and iPay Cambodia which is powered by LOLC (Cambodia) Plc. and authorized by iPay (pvt) Ltd. This Agreement is a legally binding contract between you and iPay Cambodia, that sets forth the terms and conditions governs your usage of iPay Cambodia. By registering an account with iPay Cambodia or using any of the services, you agree that you have read, understood and accepted all the terms and conditions contained in this Agreement.

2. It is vitally important that you read these Terms and Conditions before you click “Agree”. If you do not understand, or are unsure about any aspect to these Terms and Conditions, do not hesitate to Contact LOLC (Cambodia) Plc. to clarify the matter for you. You click “Agree” means that you accepted all terms and conditions stated hereof.

3. "We”, “Us”, “Our”, and “iPay Cambodia” refer to iPay (pvt) Ltd. iPay Cambodia shall means the iPay online payment platform/digital merchant solution. "You”, “Your”, “Customer”, and “User" refer to the Account Holder, and each Authorized Signatory(s).

Hereinafter jointly called and referred to as the "Parties" and individually as "Party".

II. Scope of the Agreement

iPay Cambodia is an online payment platform/ digital merchant solution that allow clients to perform any transactions such as:

To transfer and make payment between accounts within LOLC user can perform through payment method as below:


A user can accept this agreement by clicking "Accept / Agree to the Agreement", via mobile application or web browser for the service and this shall create and represent a legally binding agreement between parties.

You agree that your usage of iPay Cambodia will be governed by this agreement and any other regulations set forth by the Government of Cambodia. You will use iPay Cambodia in accordance with all applicable laws and will not use iPay Cambodia for any illegal or fraudulent purposes, or purposes that are prohibited. iPay Cambodia is not intended for use by any person other than customers authorized to use the bank account pursuant to all agreements between you and LOLC (Cambodia) Plc that maintains your bank account(s).

III. Term

The agreement will be effective from the date of acceptance by the client ("Effective date") and shall be enforced until it is terminated by either party.

IV. Mode of Operation

1. Eligibility

To be eligible for the services provided by iPay Cambodia, the user must:

(a) has an iOS or android smart phones or web browser

(b) has an active phone number

(c) has Saving Account with LOLC (Cambodia) Plc. with the minimum balance of 20,000 KHR or 5 USD or 200 THB at the beginning

(d) is an individual account or joint account with condition “Anyone of Us”

(e) has full legal capacity to enter into an agreement

(f) agree with the terms and conditions of iPay Cambodia

User further, represents and warrants that the user is not acting on behalf of or for the benefit of anyone else.

2. You are responsible for providing valid, complete and up-to-date information for all required elements on the registration and you are solely responsible for changing and updating the information without any delay. iPay Cambodia may request further information to be provided from time to time and you shall be responsible for providing

the information as requested. iPay Cambodia shall not be held liable for any damages including, but not limited to the processing and/or disclosure of information which may be deemed unauthorized and the inability to provide requests/updates/notifications to the customer as a result of the customer's failure to update all required information.

3. We reserve the rights to maintain your account registration information after you close your account for regulatory purposes.

4. Use of iPay Cambodia requires your device to have access to internet connection and all payment/s you make through iPay Cambodia will be transacted through various service providers and you shall be responsible for any levies, charges or fees that can be imposed on those transactions by those service providers.

5. The user shall bear complete responsibility for all payment instructions originated from their devices/iPay Cambodia account including any instructions that maybe generated as a result of viruses, spyware, social engineering, malware or any other known or unknown attack.

6. You acknowledge and agree that, debiting your designated account/s for your payment/s instructions and crediting the payee account, may not always carried out simultaneously and that, certain instructions may be processed after a delay and/or only be processed during normal working hours even though the service may be accessible at the time.

7. Further, cancellation of the transactions and/or reversal of transactions shall take place through normal banking dispute resolution procedures and iPay Cambodia shall not be held responsible or accountable for any such dispute.

8. iPay Cambodia may introduce software updates or upgrades from time to time and you acknowledge and agree that complying with such system requirements, which may be changed from time to time are solely your responsibility. Since the use of iPay Cambodia involves hardware, software, Internet, and other wireless communication channels and applicable updates; your ability to use iPay Cambodia may be affected by the performance of these factors. Further, iPay Cambodia shall not be held responsible for any malfunctions of the software in an event the user failed to keep the software up to date. iPay Cambodia expressly reserve the rights to change, modify, update, remove, revise or otherwise change any portions of the iPay Cambodia application at any time and in no event iPay Cambodia shall be liable for any claims or damages caused by or arising out of such action.

9. iPay Cambodia may occasionally restrict the functions of the application or completely make dysfunctional to allow for repairs or maintenance with prior notice (when possible) and user hereby grant consent to receive notices, disclosures and other communications regarding iPay Cambodia via email/SMS/Push notifications or any other communication method.

10. You accept and agree that iPay Cambodia shall have the authority to introduce new acquirer institutions to the iPay Cambodia platform without prior notice (for your convenience) once you have accepted our initial mandate at the time of installing application.

11. For regulatory, risk and security purposes iPay Cambodia may impose limitations on the maximum amount per transaction and number of transactions per day.

12. For your protection we are using industry standard security mechanisms which will change from time to time reflecting the existing threat landscape.

13. If the user gives the device, or disabled existing security mechanisms and transactions occur: user shall be held responsible.

V. Fee Charge

1. iPay Cambodia is free to use. However, fee charges may apply when you perform certain transactions or by using specific products or services available in iPay Cambodia. You agree to pay the fees and charges, and you also agree that LOLC (Cambodia) Plc. may debit those fees and charges directly from your account.

2. Current fees and charges are available at LOLC Cambodia’s website (https://www.lolc.com.kh). These fees and charges may be amended by iPay Cambodia from time to time upon its sole discretion or whether required by Law. Before making any transaction, you agree that you have checked and accept these fees and charges.

VI. Account Suspension and Closure

iPay Cambodia may, in our sole discretion, without any liability or notice to you, refuse to let you open an account, suspend your account or terminate your account or restrict your usage of one or more of the services.

Such actions may be taken as a result of account inactivity, failure to respond to customer support requests, failure to positively identify you or your violation of the terms of this agreement.

You may terminate this agreement at any time by closing your account and discontinuing use of the services. Provided that, you shall be liable for all transactions made while the account was opened.

VII. Grant of License and Restrictions

1. iPay Cambodia hereby grants you a non-exclusive, non-transferable, limited, personal and revocable rights and license to access and use iPay Cambodia for your personal use only.

2. You may not reverse-engineer, copy, decompile, disassemble, derive the source code of, modify, adapt, capture, reproduce, publicly display, publicly perform, transfer, sell, license, create derivative works from or based upon, republish, upload, edit, post, transmit, distribute, exploit, circumvent or otherwise translate (or encourage or assist any other person to do any of the foregoing) iPay Cambodia in whole or in part.

3. You shall not interfere or attempt to interfere with the operation or use of iPay Cambodia in any way through any means or device including, but not limited to, spamming, hacking, and uploading computer viruses or time-bombs, or any other means. You may not use iPay Cambodia for any purpose that is unlawful or prohibited by iPay Cambodia or under the Laws of the Kingdom of Cambodia.

4. You are specifically prohibited from using iPay Cambodia in connection with any contents, services, programs or applications that (i) are in violation of any third party's rights, including but not limited to intellectual property rights; or (ii) contain viruses or other harmful software, code or other malwares that impact or limit the functions or services provided by iPay Cambodia or the mobile devices supporting iPay Cambodia.

VIII. Limitation of Liability

User understand and acknowledge the inherent risks in online, electronic transactions and agree that iPay Cambodia shall not be liable or responsible for any termination, suspension or any damages caused what so ever due to user's actual late payments and/or late payments or non-processing of payments due to internet connection failure or any other malfunctions in iPay Cambodia system.

IX. Security of User Information

1. You must register either your fingerprint image, retina image, password, PIN or any suitable, complex authentication mechanism available in your device to prevent others from accessing or using the iPay Cambodia application on your device. You agree to keep your authentication information confidential at all times. If you lose your device or suspects of a possible third party activity, then you must take immediate steps to deactivate the iPay Cambodia account by contacting the Contact Centre to prevent use of the iPay Cambodia application by others. Failure to comply with such requests will result in iPay Cambodia being held harmless in the event of unauthorized transactions being carried out through the iPay Cambodia application on your device.

2. iPay Cambodia is not bound to carry out the instructions given by the Customer, if iPay Cambodia at its sole discretion believes that such instructions do not emanate from the Customer.

3. The Customer hereby agrees to accept full responsibility for all transactions processed from the use of the iPay Cambodia application using the Customer mobile device/iPay Cambodia account, even if the instructions were not authorized by the Customer and to accept iPay Cambodia's record of transactions as conclusive and binding for all purposes.

4. As the set of rules typically issued by the National Bank of Cambodia, that attempt to prevent and detect the use of financial services for money laundering or to finance terrorism. We may ask you at anytime to confirm that you comply with Anti-Money Laundering, Anti-Terrorist Financing and other similar acts or legislations mandated by the Government of Cambodia. Failure to comply with such requests may result in your iPay Cambodia account being suspended.

X. Privacy

1. iPay Cambodia may collect non-personal identification information about Customers whenever they use the facility, in order to provide a better user experience via iPay Cambodia platform. Non-personal identification information may include, but not be limited to, the browser name, transactional data, location data, the type of devices and technical information such as the operating system, the Internet service providers utilized and other similar information.

2. iPay Cambodia may use any such information stored for several purposes, not limited to: processing transactions, administering accounts (which includes verifying personal information in order to safeguard data) and responding to complaints.

3. iPay Cambodia may monitor usage of the platform for security and improvement purposes. iPay Cambodia adopts appropriate data collection, storage and processing practices and have implemented reasonably adequate security measures and controls to protect such information against unauthorized access, alteration, disclosure or destruction. However, iPay Cambodia shall be entitled to make any disclosure required by regulations set forth by the National Bank of Cambodia and the legislature of the Kingdom of Cambodia, without prior consent or post notification to the Customer.

XI. Operating Hours

1. Customer can perform transactions in iPay Cambodia 24 hours per day (24/7), unless there is a notice of suspension from LOLC (Cambodia) Plc. Any enquiry, customer can contact to our Contact Centre team by (+855) 23 991 991.

2. LOLC (Cambodia) Plc. reserves the right to suspend the operations if any issues arise or any emergency cases.

XII. Complaint Handling

1. If you have any complaint on our iPay Cambodia services, or if you believe that the transaction performing have been lost, or there is any error happen, or you suspect that someone else knows your Security Details, or has used or tried to use your account through iPay Cambodia you must inform or contact to Call Centre by phone number (+855) 23 991 991 or email address: [email protected] or go to the nearest LOLC (Cambodia) branch.

2. You shall provide the proper and clear information as per requested from LOLC staff. LOLC (Cambodia) take complaints very seriously and value the information you provide to assist with reviewing the way helping to meet customers’ expectations.

XIII. Disclaimer

1. Disclaimer of Warranties.

To the extent permitted by law, iPay Cambodia is provided "as is", "where is" and "as available" and without warranties of any kind.

To the extent permitted by law, iPay Cambodia and its licensors make no representations or warranties or guarantees of any kind or nature, whether express or implied, relating to iPay Cambodia, and specifically disclaims all such warranties including, without limitation, any implied warranty of merchantability, fitness for a particular purpose and non-infringement. Without limiting the previous disclaimer, to the extent permitted by law, iPay Cambodia and its licensors do not represent, warrant or guarantee that the iPay Cambodia application will:

(i) operate in an uninterrupted, timely, secure or error-free manner

(ii) always be available or free from all harmful components or errors

(iii) be secure against or immune from (including the content delivered to you or the information you provided) any unauthorized access

(iv) meet any and/or all implicit and explicit requirements of the customers in relation to the use of the iPay Cambodia platform.

2. Disclaimer of Certain Damages.

IN NO EVENT SHALL iPay Cambodia OR ITS LICENSORS BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE DAMAGES OR LOST PROFITS, EVEN iPay Cambodia HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS MEANS THAT YOU HEREBY WAIVE ANY AND ALL RIGHTS TO ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE DAMAGES OR LOST PROFITS FROM iPay Cambodia AND ITS LICENSORS. THIS LIMITATION AND WAIVER ALSO APPLIES TO ANY CLAIMS YOU MAY BRING AGAINST ANY OTHER PARTY TO THE EXTENT THAT iPay Cambodia WOULD BE REQUIRED TO

INDEMNIFY THAT PARTY FOR SUCH CLAIM. YOU ARE SOLELY RESPONSIBLE FOR ANY DAMAGE OR LOSS IF YOU ALLOW ANYONE (SUCH AS ANOTHER USER OR A MERCHANT) TO USE OR HANDLE YOUR DEVICE AND/OR iPay Cambodia APPLICATION.

XIV.Indemnification

1. The Customer will be fully liable and responsible for all consequences arising from or in connection with use of the service/mobile platform/iPay Cambodia account and/or access to any information or report or any other information as a result of such use by the Customer or any other person whether or not authorized by the Customer.

2. The Customer shall indemnify and hold iPay Cambodia and their directors, respective officers, employees, affiliates and service providers harmless from and against all liabilities, claims, damage, losses, demand, costs, charges and expenses of any kind (including, without limitation, legal fees on full indemnify basis) which may be incurred by any of them and all actions and proceeding which may be brought by or against any of them in connection with the provision of the services, the information and/or the report exercise or prevention of company powers under these terms & conditions unless due to the gross negligence or willful default of Company.

XV. Miscellaneous

1. Force Majeure: shall have no liability for any failure or delay resulting from any condition beyond reasonable control, including but not limited to governmental action or acts of terrorism, shall have no liability for any failure or delay resulting from any condition beyond our reasonable control, including but not limited to governmental action or acts of terrorism, natural disasters or other acts of God and internet disturbances. Hacking, natural disasters or other acts of God and internet disturbances.

2. Amendments: We may amend any portion of this agreement at any time by posting the revised version of this agreement with an updated revision date, with or without notice to you. The changes will become effective, and shall be deemed accepted by you. In the event that you do not agree with any such modification, you shall close your account and terminate this agreement. You agree that, we shall not be liable to you or any third party for any losses cause due to such modifications.

3. Governing Law: All matters relating to use of the facility shall be governed and construed in accordance with the laws of Kingdom of Cambodia. Any legal action or proceedings relating to the Customer's access to, or use of, the facility shall be instituted in a court in, Cambodia.

4. Language: The Terms and Conditions contains both Khmer and English. In case of Khmer and English version is inconsistent, Khmer version shall prevail.

5. The Customer and iPay Cambodia agree to submit to the jurisdiction of, and agree that venue is proper in such legal action or proceeding.

6. Security: Parties agree to comply with the security procedures and requirements described in this agreement and such other security procedures as determined by the parties' time to time which are subject to change with prior notice to respective party.

7. Assignment: You may not transfer or assign this agreement or any right or obligations you have under this agreement. We reserve the right to assign or transfer our rights and obligations without prior notice.