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Key Facts Statement
Customer Wallet

Table of Contents

With Pay10 Wallet, you can easily send, receive, and make payments to participating merchants and other Pay10 users anytime, anywhere, using your mobile device.

Important Notes

Product Name

Pay10 Wallet

Type

Digital Payment Solution

Supported Currency

United Arab Dirhams (AED)

Eligibility

  • UAE residents aged 18 years and above
  • Valid Emirates ID
  • Valid UAE mobile number

Key Features

  • Digital wallet for secure online and offline payments
  • QR code-based payments (Scan & Pay)
  • Bank account linking for easy top-ups & withdrawals
  • Peer-to-peer money transfers
  • Merchant Payments
  • Bill payments and utility recharges

Account Opening

  • Free account opening
  • KYC verification required through Emirates ID
  • Additional documents may be required as per regulatory guidelines

Fee and Charges

  • Account Opening: Free
  • Annual maintenance: Free
  • Wallet top-up:
    • Bank Account: Free
  • Self-Withdrawal (to Bank Account): Free
  • Transfers
    • Pay10 Wallet to Pay10 Wallet: Free
    • Pay10 Wallet to Bank Account: AED 3 per transaction
  • Bill Payments: Free
  • Payment for Purchase: Free
  • • Estimated Transaction Timeframe:
    • Local Transfers: Real-time

Note: The processing timeframe is an estimate. Transactions may be delayed due to external factors beyond our control.

Transaction Limits

  • Maximum wallet balance: AED 25,000
  • Daily transaction limit: AED 25,000
  • Monthly transaction limit: AED 25,000
  • Limits may vary based on KYC level and regulatory requirements

Security Features

  • Two-factor authentication for all transactions
  • Biometric login (fingerprint/face recognition) where supported
  • Real-time transaction & fraud monitoring
  • Option to freeze & close/delete wallet account

Customer Support

Complaints and Dispute Resolution

  • Lodge complaints through the support center, or email
  • Resolution timeframe: up to 2 business days for most issues
  • Escalation process available if not satisfied with the resolution

Important Notes

  • Funds in Pay10 Wallet are not interest-bearing
  • Pay10 is licensed and regulated by the Central Bank of the UAE.
  • Your consent is required for data sharing with third parties
  • You have the right to withdraw consent for data sharing at any time
  • Pay10 has the right to change the terms and conditions of the product, with a 60-day notice for any changes.
  • This Key Facts Statement provides only indicative fees and charges. For the full and latest fees and charges, please refer to the website for the updated schedule of charges.
  • All fees are exclusive of VAT. Wherever applicable, VAT will be charged at prevailing rates in addition to the fee.
  • You can pause, cancel or update the Payment Initiation Permissions granted through Altareq (Open Banking) at any time.

Warning

By using the Pay10 Digital Wallet, you acknowledge that:

  1. Your account may be suspended if you fail to provide the required documentation or if the information provided is inaccurate or incomplete.
  2. Pay10 may share your information with regulatory authorities in compliance with applicable laws and regulations.
  3. You are responsible for the confidentiality of your account information and for all transactions made through your account, you must keep your Pay10 wallet credentials safe and confidential at all times.
  4. If you see a transaction on your account that you do not recognize, or you think may be incorrect, you must contact us immediately via the call center or our website.

For full details, please refer to our Terms and Conditions available at

http://www.pay10.bullseyetechbrands.com/terms-of-service