Terms of service
YOU AGREE THAT THIS USER AGREEMENT WILL BE EFFECTIVE AS TO ALL USERS/MERCHANTS ON 1ST JANUARY 2017.
VES is a product owned by:
VE Services Sdn. Bhd (538199-W)
V02-03-07, Velocity Office 2,
Lingkaran SV, Sunway Velocity,
55100 Kuala Lumpur, Malaysia
and have entered an agreement with Bank Islam as an acquirer Bank, address as follow:
Menara Bank Islam,
Level 24, 22 Jalan Perak,
50450 Kuala Lumpur, Malaysia
VES Terms of Service - Malaysia
Dated: July 1, 2019
We may amend this Agreement at any time by posting a revised version on our website. The revised version was effective at the time we post it. If the revised version includes a Substantial Change, we will provide you with 30 Days’ prior notice of any Substantial Change by posting a notice on the “Policy Updates” page of our website.
This is an important document which you must consider carefully when choosing whether to use the VES services. Please note the following risks of using the VES services:
- Payments received for your Account may be reversed at a later time, for example, if a payment is subject to a Chargeback, Reversal, Claim or is otherwise invalidated. This means that a payment may be reversed from your Account after you have provided the sender the goods or services that were purchased.
- We may close, suspend, or limit your access to your Account or the VES services, and/or limit access to your funds if you violate this Agreement, Use Policy, or any other agreement you enter into with VES services.
- You are solely responsible for understanding and complying with any and all laws, rules and regulations of your specific jurisdiction that may be applicable to you in connection with your use of the VES services, including but not limited to, those related to export or import activity, taxes or foreign currency transactions.
This Agreement is not a solicitation of the VES services and VES is not targeting any country or market through this Agreement.
Each VES user must agree to everything in this Agreement and on the Website.
1. Payment Services & Eligibility
VES is a payment services provider and acts as such by creating, hosting, maintaining and providing our VES services to you via the Internet. Our services allow you to sell your products and receive payments from the company. We offer services in compliance with local laws and regulations.
VES is not a remittance business or a money transfer service. We do not have any control over, and are not responsible or liable for, the products or services that are paid for with our VES service. We cannot ensure that a buyer or a seller you are dealing with will fulfill their obligation to deliver the product or services purchased.
In order to open and maintain an Account, you must provide us with correct and updated Information.
- Your contact information
It is your responsibility to keep your primary email address up to date so that VES can communicate with you electronically. You understand and agree that if VES sends you an electronic communication but you do not receive it because your primary email address on file is incorrect, out of date, blocked by your service provider, or you are otherwise unable to receive electronic communications, VES will be deemed to have provided the communication to you effectively. Please note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add VES to your email address book so that you will be able to view the communications we send to you.
You can update your primary email address at any time by logging into the VES website or dashboard. If your email address becomes invalid, such that electronic communications sent to you by VES are returned, VES may deem your account to be inactive, and you will not be able to transact any activity using your vePay account until we receive a valid, working primary email address from you.
- Identity Verification
You authorise VES, directly or through third parties, to make any inquiries we consider necessary to validate your identity. This may include asking you for further information or documentation, requiring you to provide a taxpayer or requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report or verifying your Information against third party databases or through other sources.
- Credit Report Authorisation
If you signup a VES Account, you are providing VES with your written instructions and authorisation in accordance with any applicable law to obtain your personal and/or business credit report from a credit bureau. You are also authorising VES to obtain your personal and/or business credit report:
- When you request certain new products, or
- at any time VES reasonably believes there may be an increased level of risk associated with your VES Account.
- Beneficial Owner
You must be the beneficial owner of the VES Account, and conduct business only on behalf of yourself.
- Proof of Shipment, Proof of Delivery, and Signature Confirmation Requirements
“Proof of Shipment” is online or physical documentation from a shipping company that includes all of the following:
- The date the item is shipped.
- The recipient’s address, showing at least the city/state or postal code (or international equivalent).
- “Proof of Delivery (for tangible items)” is online documentation from a shipping company that includes all of the following:
- The date the item is delivered.
- The recipient’s address, showing at least the city/state or postal code (or international equivalent).
- “Signature Confirmation” is online documentation that can be viewed at the shipping company’s website.
“Proof of Delivery (for intangible or virtual items or services)” means any compelling evidence to show the purchase order was fulfilled and includes all of the following:
- The date the item or service was provided;
- The recipient’s address (email/IP, etc.) where applicable.
In order to use the Service as a Merchant, you must register with accurate and complete information and update it promptly if there are changes. You must be at least 18 years old and based in Malaysia.
2. Refund Terms
Refund request by merchant for VES subscription
You are not entitled for refund if you changed your mind after having a merchant account with us and paid the subscription fee.
Refund because of Termination of Service
If we terminate you from using our service for any reason in accordance with the Terms of our service, we will not give you a refund for the amount fee that you have paid to us. Similarly if you terminate our service for any violation of company policy, you are not entitled for any refund.
No refund will be credited if you decided to change your mind, or if you violate the terms of Service.
3. Restricted Activities
In connection with your use of our website, your VES Account, the VES services, or in the course of your interactions with VES, other Users, or third-parties, you will not:
- Violate any law, statute, ordinance, or regulation;
- Infringe vePay’s or any third party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy;
- Sell counterfeit goods;
- Selling items / services that relates to transactions involving (a) narcotics, steroids, certain controlled substances or other products that present a risk to consumer safety, Eg: Drug paraphernalia, prescription and controlled medicines,
- Operate business that encourage, promote, facilitate or instruct others to engage in illegal activity, including violence, racial or other forms of intolerance that is discriminatory or the financial exploitation of a crime
- Sale of stolen goods including digital and virtual goods,
- Tobacco, E-Liquids and E-Cigarettes product/service must be legal to be sold in the area that you are selling from and to the state/country you are selling to. The website must have a disclaimer of item not saleable to buyers below 18 years old.
- Sale of items with content of sexually oriented materials or services,
- Selling of ammunition, firearms, or certain firearm parts or accessories, or certain weapons or knives regulated under applicable law.
- Operating business that show the personal information of third parties in violation of applicable law, support pyramid or ponzi schemes, matrix programs, other “get rich quick” schemes or certain multi-level marketing programs, associated with purchases of annuities or lottery contracts, lay-away systems, off-shore banking or transactions to finance or refinance debts funded by a credit card.
- Selling of traveler’s checks or money orders, or involve currency exchanges or check cashing businesses, involves in certain credit repair, debt settlement services, credit transactions or insurance activities, or involve in offering or receiving payments for the purpose of bribery or corruption.
- Engage in potentially fraudulent or suspicious activity and/or transactions;
- Refuse to cooperate in an investigation or provide confirmation of your identity or any Information you provide to us;
- Receive or attempt to receive funds from both VES and the buyer, bank or card issuer for the same transaction during the course of a Dispute;
- Control an Account that is linked to another Account that has engaged in any of these Restricted Activities;
- Conduct your business or use the VES services in a manner that results in or may result in complaints, Disputes, Claims, Reversals, Chargebacks, fees, fines, penalties and other liability to vePay, other Users, third parties or you;
- Have a credit rating from a credit reporting agency that indicates a high level of risk associated with your use of the vePay services;
- Use your VES Account Services in a manner that Visa, MasterCard and FPX or any other electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules;
- Use a credit card with your Account to provide yourself a cash advance (or help others to do so);
- Disclose or distribute another User’s Information to a third party, or use the Information for marketing purposes unless you receive the User’s express consent to do so;
- Send unsolicited email to a User or use the VES services to collect payments for sending, or assisting in sending, unsolicited email to third parties;
- Take any action that imposes an unreasonable or disproportionately large load on our infrastructure;
- Facilitate any viruses, trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or Information;
- Use an anonymizing proxy; use any robot, spider, other automatic device, or manual process to monitor or copy our website without our prior written permission;
- Use any device, software or routine to bypass our robot exclusion headers, or interfere or attempt to interfere with our website or the VES services;
- Operating business in managing capital markets and services platform including digital currency, digital token and cryptocurrency.
You have to obey the rules for not selling non-allowed item under the Malaysian Law, refrain from abusing VES payment system, and take part in any of the cyber crimes.
4. Additional terms and conditions for merchant with a marketplace model
If your website or system involves a marketplace model which includes you acquiring your own merchants to sell on your website, or your model involves you selling on behalf of other merchants, you will be subjected to our additional terms and conditions. Failing to notify or inform us will result in your account to be suspended or deactivated.
If you run a marketplace model business, let us know.
5. Your liability - actions we may take
You are responsible for all Reversals, Chargebacks, Claims, fees, fines, penalties and other liability incurred by VES a User, or a third party caused by or arising out of your breach of this Agreement, and/or your use of the vePay services. You agree to reimburse VES, a User, or a third party for any and all such liability.
If a buyer files a Significantly Not as Described (SNAD) Claim for an item he or she purchased from you, you will generally be required to accept the item back and refund the buyer the full purchase price plus original shipping costs. You will not receive a refund on your vePay Fees. Further, if you lose a SNAD Claim because we, in our sole discretion, reasonably believe the item you sold is counterfeit, you will be required to provide a full refund to the buyer and you might not receive the item back from the buyer, for instance, it may be disposed of or otherwise irreversibly dealt with.
- Liability for instructions given by you on your Account Any instructions given by you on your Account (whether verbal or in writing) once you have been authenticated will be relied on by VES. VES will not be liable for any loss or damage you or anyone else suffers where vePay acts on those instructions in good faith, unless it was proved that VES was negligent.
Action by VES
- Actions by VES – Restricted Activities If VES in its sole dicretion, believes that you may have engaged in any Restricted Activities, we may take various actions to protect VES Affiliates other Users, other third parties or you from Reversals, Chargebacks, Claims, fees, fines, penalties and any other liability. The actions we may take include but are not limited to the following:
- We may close, suspend, or limit your access to your Account or the VES services,
- We may refuse to provide the VES services to you now and in the future, and
- We may hold your funds for a period fo time reasonably needed to protect agains the risk of liability to VES or third party, or if we believe that you may be engaging in potentially fraudulant or suspicious activity and/or transaction.
- Actions by VES – Holds a. Risk-based Holds VES, in its sole discretion, may place a hold on any or all of the payments when VES believes there may be a high level of risk associated with you, your Account, or any or all of your transactions. VES’s determination may be based on different factors and VES may rely on information it receives from the acquiring bank or third parties.
If VES places a hold on a payment, the funds will appear as pending balance or withheld and the payment status will indicate the hold. If VES places a hold on any or all of the payments you receive, VES will provide you with notice of our actions.
In the event VES believes that you have violated the terms of this Agreement or any other Policy and that such a violation results in the need to continue holding the funds, or VES believes that you may be engaging in potentially fraudulent or suspicious activity and/or transactions.
In such an event, VES may continue holding the payment until the matter is resolved pursuant to this Agreement. VES in its sole discretion, may release the hold earlier under certain circumstances, for example when you upload tracking information of the item you shipped.
b. Disputed Transaction Holds If a User files a Dispute, Claim, Chargeback or Reversal on a payment you received, VES may place a temporary hold on the funds in your Account to cover the amount of the liability. If you win the dispute, VES will lift the temporary hold. If you lose the dispute, VES will offset from the hold funds from your Account.
- Actions by VES – Reserves VES, in its sole discretion, may require VES Account to place certain amount as Reserve on funds held by VES when VES believes there may be a high level of risk associated with selling your products or services. VES may change the terms of the Reserve at any time by providing you with notice of the new terms.
Actions by VES – Account Closure, Termination of Service, Limited Account Accesss; Confidential Criteria VES, in its sole discretion, reserves the right to terminate this Agreement and/or access to the VES Services for any reason and at any time upon notice. All payment which is pending to you will be forfeited. If we limit access to your Account, including through a Reserve or hold, we will provide you with notice of our actions.
Further, you acknowledge that VES’s decision to take certain actions, including limiting access to your Account, placing holds or imposing Reserves, may be based on confidential criteria that is essential to our management of risk, the security of Users’ Accounts and the VES system. You agree that VES is under no obligation to disclose the details of its risk management or its security procedures to you.
If your customer claims your product as SNAD, you are fully responsible for the refunds and return shipping cost. vePay will not provide a refund on your behalf.
VES may suspend your account should we believe that you may have engaged in any of the Restricted Activities to protect VES, and other users.
VES may hold your payment should we believe there may be a high level of risk associated.
VES may place a temporary hold on the funds in your account should a user files a dispute, claim, chargeback or reversal on the payment you received.
Limitations of Liability. IN NO EVENT SHALL WE, OUR PARENT, SUBSIDIARIES AND AFFILIATES, OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES OR SUPPLIERS BE LIABLE FOR LOST PROFITS OR ANY SPECIAL, INCIDENTAL OR CONSEQUENTIAL DAMAGES (INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF DATA OR LOSS OF BUSINESS) ARISING OUT OF OR IN CONNECTION WITH OUR WEBSITE, THE vePay SERVICES, OR THIS AGREEMENT (HOWEVER ARISING, INCLUDING NEGLIGENCE) UNLESS AND TO THE EXTENT PROHIBITED BY LAW OUR LIABILITY, AND THE LIABILITY OF OUR PARENT, SUBSIDIARIES AND AFFILIATES, OUR OFFICERS, DIRECTORS, AGENTS, JOINT VENTURES, EMPLOYEES AND SUPPLIERS, TO YOU OR ANY THIRD PARTIES IN ANY CIRCUMSTANCE IS LIMITED TO THE ACTUAL AMOUNT OF DIRECT DAMAGES.
Services Limitation. VES is not a bank and the VES services are payment processing services rather than banking services. VES is not acting as a trustee, fiduciary or escrow with respect to your funds, but is acting only as an agent and custodian. VES does not have control of, nor liability for, the products or services that are paid for with the VES services. We do not guarantee the identity of any User or ensure that a buyer or a Seller will complete a transaction.