August 9, 2023
—
Sumit Sen
1.1. These Terms of Use (the “Terms”) constitute a legal agreement between you (the “User” or “you”) and Nook Technologies Pte. Ltd. (the “Company”, “we”, or “us”). By accessing and using the Services (as defined below), you agree that you have read, understood, accepted, and agreed with the Terms. If you do not agree with the Terms, please do not continue to access and use the Services.
1.2. The services provided by the Company (the “Services”) are as follows: -
a. The mobile application that is owned and operated by the Company (the “Application”), through which, Users can access their account with the Company (the “Account”);
b. The electronic wallet which holds electronic money for the User (the “E-Wallet”); and
c. The digital and physical prepaid card issued to the User in relation to each Account (the “Nook Card”) for payment.
1.3. These Terms shall commence on the day that the Company confirms to you via the Application that your Account has been approved and shall continue until terminated in accordance with clause 22 (Amendments to these Terms) and/or clause 24 (Termination).
2.1. To be eligible to use the Services, you must: -
a. Have attained at least 18 years of age at the time of application for the Account; and
b. Have the legal capacity to accept the Terms under the laws applicable to you.
2.2. By accessing and/or using the Services, you are representing and warranting to the
Company that you are eligible to use the Services.
2.3. In order to access and/or use the Services, you must first register an account with the
Company which will require you to provide us with data relating to you, including but not
limited to: -
a. Your full legal name;
b. Phone number;
c. Email address;
d. NRIC/FIN;
e. Date of birth;
f. Residential address;
g. Other information as may be required to verify data provided by you; and
h. Other information as may be required to allow the Company to comply with its anti-money laundering and countering the financing of terrorism obligations under the applicable laws.
2.3.1. Users may opt to provide information (d) and (e) above via the MyInfo feature on the Singpass Mobile Application.
2.4. You agree to cooperate with all requests made by us or any of our third-party service providers in relation to your Account to verify or authenticate your identity or validate your funding sources or transactions through our Services.
2.5. You are solely responsible for ensuring that any data, documents or other information, whether electronic or otherwise, that you submit to the Company or any of our third-party service providers: -
a. Is accurate, true and complete in any respect at all times;
b. Where applicable, is provided within reasonable time;
c. Is not false, misleading or deceptive in any respect at all times; and
d. Does not omit anything that affects or is likely to affect the meaning or significance of such data, document or other information in any respect at all times.
2.6. The Company reserves the right to close, suspend, or limit access to our Services if we are unable to obtain, verify the information requested in clause 2.3, or you do not comply with our request for your information.
3.1. You can access the following features within the Application: -
4.1. Your E-Wallet is a reloadable account in which electronic money, which the Company has issued to you in exchange for receiving money from you or on your behalf, is stored. You may use the electronic money in your E-Wallet to enter transactions with third-party merchants or transfer the electronic money in your E-wallet to another User’s E-Wallet.
4.2. In addition to your Account, you are allocated a unique virtual account by Fazz Business (formerly known as Xfers), which is a service provider engaged by the Company, so you can utilise our Services.
4.3. The terms and conditions governing each virtual account with Fazz Business shall apply to you. The terms and conditions of Fazz Business can be found at
https://fazz.com/sg/terms-and-conditions/fazz-biz/terms-of-service/
Please read the terms and conditions governing each virtual account with Fazz Business as you must accept and agree to such terms and conditions relating to the creation and utilization of a virtual account with Fazz Business before our Services may be utilized.
4.4. In accepting these Terms, you are consenting to the Company sharing information relating to you (including personal data) with Fazz Business, insofar as such information is required by Fazz Business to create your unique virtual account and the provision of the Services.
4.5. When we hold electronic money for you, us holding the funds corresponding to the electronic money is not the same as a bank holding money for you in that: -
a. we cannot and will not use the funds to invest or lend to other persons or entities;
b. your electronic money will not accrue interest;
c. your electronic money is not covered by the Deposit Insurance Scheme. The funds corresponding to electronic money will be held in one or more segregated bank accounts separately from our own funds; and
d. we deposit Users’ monies separately in a dedicated bank account.
4.6. The amount of electronic money you can hold in your E-Wallet at any time is SGD$1,000. If for any reason your electronic money balance is above your allowable limit, you will not be able to top-up or receive incoming transfers into your E-Wallet until you reduce your account balance.
4.7. Top-ups, transfers and/or transactions in currencies other than the Singapore Dollar will not be accepted.
4.8. We may suspend your access to the Services on reasonable grounds relating to:
a. the security of the E-Wallet and/or the Nook Card; or
b. the suspected unauthorised and/or fraudulent use of the E-Wallet and/or the Nook Card, and
if we do stop your access in such instances, we will inform you via the Application and direct you to our customer services team.
5.1. Where applicable, you may need to enter the Company’s account details when you top-up your E-Wallet, or top-up another User’s E-Wallet on their behalf. Where applicable, you may also need to enter another User’s Account details when you transfer electronic money to his/her E-Wallet. You understand and agree that it is your responsibility to ensure that the account details are entered correctly. Any error may result in the top-up to an E-Wallet or transfer of electronic money between Accounts being erroneous or unsuccessful. We shall not be liable for any losses you incur from entering incorrect account details.
Top-ups via PayNow
5.2. In connection with clause 3.1.b., to top-up your E-Wallet via PayNow, you can transfer money into the unique PayNow virtual payment address issued by Fazz Business. Any transfer made into the PayNow virtual payment address would be registered by the Company to update and maintain your account balance.
Top-ups via Bank Transfer
5.3. In connection with clause 3.1.b., to top-up your E-Wallet via bank transfer, you can transfer money into the Company’s operating account. Any transfer made into the Company’s operating account would be registered by the Company to update and maintain your account balance.
E-Money Transfers between Accounts
5.4. In connection with clause 3.1.c., you can send electronic money to, and receive electronic money from, other Accounts (“E-Money Transfers between Accounts”). To transfer electronic money to another User’s E-Wallet, you can input the User’s Account details in the Application and follow the prompts to complete the transfer.
6.1. Once your application for an Account has been approved and an order has been placed to purchase the physical Nook Card, the Company will deliver the physical Nook Card to you within one to two weeks thereafter.
6.2. You understand and agree that the Company will not be responsible or liable for any delay in delivery of the physical Nook Card due to causes beyond the Company’s control including, but not limited to, incorrect address submitted to us or delays in delivery by third parties.
6.3. For avoidance of doubt, the usage of the digital Nook Card and the physical Nook Card shall be dependent on the funded balance in your E-Wallet.
6.4. You may activate and deactivate a Nook Card using the Application. Failure to disable the Nook Card upon becoming aware of it being lost or stolen may mean that you lose your right to any compensation for an unauthorised transaction.
7.1. You can use your Nook Card to purchase goods and/or services from a third-party merchant either online or at a point-of-sale terminal anywhere that accepts the Nook Card (the “Nook Transaction”). In such an event we will redeem electronic money in your E-Wallet and the third-party merchant will be sent, less any fees from the Company (acting as issuer of the Nook Card), the equivalent amount of money. You will need to follow the instructions on the relevant website or point of sale machine to complete the Nook Transaction. This may involve you entering the details of Nook Card or your Nook Card password.
7.2. The Company may refuse to enter into a Nook Transaction with you at any time relating to security of the E-Wallet and/or the Nook Card, suspected unauthorised and/or fraudulent use of the E-Wallet, suspected infringement of the AML/CFT requirements, and/or violation of the permitted uses of the Services (clause 11 below).
7.3. At first instance when you have a negative balance in their E-Wallet, the Company will offset the negative balance from fresh funds subsequently deposited into the E-Wallet. No subsequent transaction will be allowed which, together with the application of the charges and commission, would cause you to maintain a negative balance in your E-Wallet.
7.4. The Company provides virtual receipts for successful Nook Transactions undertaken by you. These transactions are also accessible on the Application. In addition to virtual receipts, merchants should provide you with physical receipts when you enter into a Nook Transaction. The Company will not and is under no obligation to provide you with a physical receipt or other written confirmation in connection with any Nook Transaction.
8.1. You can redeem the electronic money in your E-Wallet and transfer the equivalent amount of money to your personal deposit account in your own name (the “Withdrawal”).
8.2. You can request for a Withdrawal by logging onto the Application and following the on-screen instructions. You will need to enter your bank account details, of which you must be named holder of. It is your responsibility to make sure that your details and your bank account details are entered correctly. Any error in information may result in the Withdrawal being unsuccessful or delayed. The Company shall not be liable for any losses you incur from entering incorrect details.
9.1. You can “invite” a User as a “Contact” in the Application and the User can accept or reject your “invite”. If a User accepts your “invite”, the User will be reflected in your Account as a “Contact”.
9.2. You can select a “Contact” to pay for a Nook Transaction. The Application will
automatically divide the payment amount for the Nook Transaction in a pre-set ratio between you and the User (“Payment Ratio”), and the divided payment amount will be deducted from your respective E-Wallets.
9.3. You can establish a “Group” with multiple Users in the Application and set a Payment Ratio for each User within the “Group”. The Users must indicate their consent in the Application to their entry into the “Group”, and to the respective payment ratios set for them in the “Group”.
9.4. Any User within a “Group” can select the “Group” to pay for a Nook Transaction, and the payment amount will automatically be divided in the Payment Ratio set for each User within the “Group” and deducted from the Users’ respective E-Wallets.
9.5. If there are insufficient electronic money in either User’s account, the payment transaction will be declined. You understand and agree that you are responsible for determining the balance held in your E-Wallet, and for ensuring you have sufficient funds for all Nook Transactions. Failing to do so may result in failed payment transactions and/or delays, among other consequences.
9.6. You understand and agree that we will not be responsible or liable in any way for any such consequences of any nature whatsoever and you agree not to take any action or to release us from any claims whatsoever in relation to any such consequences.
9.7. You should only use this function for amounts due for payment in full. This service may not be used as a debt collection or enforcement tool.
10.1. The Company shall not be involved in any dispute in relation to any payment or transfer that may arise between yourself and any other User.
11.1. You are not permitted to: -
a. use your Account for any illegal and illicit purposes. The Company will report any
suspicious activity and cooperate with any relevant law enforcement agency or regulator in its investigation of such activity;
b. instruct the Company to send or receive what we reasonably believe to be potentially fraudulent funds on your behalf;
c. control an Account that is linked to another Account that is or may be engaging in any illegal or illicit activities;
d. create more than one Account without our prior written consent;
e. creating new or additional Account using information that is not your own (e.g. name, address, email address, etc.);
f. provide us with false, inaccurate or misleading information;
g. refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us;
h. use your Account in a manner that we believe may be a violation of any applicable electronic payment network rules, card association or network rules, or applicable law; or
i. breach these Terms, or any other agreement or policy that you have agreed with the Company;
11.2. If the Company, in its sole discretion, believes that you have breached the provision of this clause, we may take action to protect ourselves, other Users and third parties. The action we may take includes but is not limited to:
a. closing, suspending, or limiting your access to our Services; correct any inaccurate information about you;
b. taking legal action and/or making reports to the authorities against you;
c. terminating your Account; and
d. fully or partially reversing a Nook Transaction and E-Money transfer between E-Wallets.
11.3. Where possible, the Company will provide you with the relevant information regarding the actions imposed, but we may be unable to do so in accordance with the appropriate law including avoiding disclosing protected third-party information or interfering in the course of an investigation.
12.1. The Company reserve the right to change, suspend or discontinue any aspect of the Services at any time, including hours of operation or availability of the Services or any Service feature. We will endeavour to give you advance notice of such change, but there is no assurance that we will be able to do so.
13.1. The Services are provided on an “as is” and “as available” basis and without any representation or warranty, whether express, implied or statutory. Save for any wilful default or fraud, the Company, its directors, officers, employees, representatives, and agents (each a “Relevant Person”), make no representation and/or warranty of any kind whatsoever for the services or the content, materials, information and functions made accessible by the Services used on or accessed through the Application, or for any breach of security associated with the transmission of sensitive information through the Services.
13.2. The Company does not warrant that the Services will be uninterrupted or free from error. The Company shall not be liable for any service interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, or completion of transactions provided by the Services.
13.3. The Company does not have any control over the products or services that are paid for using the Services.
13.4. The Company is not responsible for the quality, performance, or any consequential results of the products and/or services purchased using the Services.
14.1. You warrant that you are an individual acting solely on your own behalf and are acting for a purpose other than a trade, business, or profession.
14.2. If you believe that a Top-up to E-Wallet, E-Money Transfers between Accounts, or Nook Transaction has been incorrectly executed or was not authorised by you, you must inform our customer services as soon as possible. Failure to notify us within 3 business days from the date of the unauthorised or incorrectly executed transaction will result in you losing your entitlement to have the matter corrected.
14.3. Where it is established that a Top-up to E-Wallet, E-Money Transfers between Accounts, or Nook Transaction was not authorised by you, or was incorrectly executed by us, and you have notified us within 3 business days from the date of the unauthorised transaction, we shall refund the full amount to your E-Wallet.
14.4. You will be liable for all losses incurred in respect of Top-up to E-Wallet, E-Money Transfers between Accounts, or Nook Transaction made by us which was not authorised by you, if you have acted fraudulently, or have acted negligently.
15.1. You expressly agree to indemnify, defend, save and hold harmless all Relevant Persons from all liabilities, claims and losses arising out of or in connection with:
a. Your Account, and/or the suspension or termination thereof by the Company in exercising its rights under these Terms;
b. The access and use of the Services;
c. Any breach by you of the Terms;
d. Any negligent act and/or omission by you in connection with the Services and/or the Terms, other than through the wilful default or fraud by the Relevant Person.
16.1. No failure or delay to exercise or enforce any right conferred upon the Company under the Terms shall be deemed to be a waiver of any such rights or operate so as to bar the exercise or enforcement thereof at any subsequent time or times.
16.2. Any waiver of any right arising from a breach or non-performance of the Terms or arising upon default under the Terms granted to you shall be null and void unless made in writing and signed by the Company.
17.1. If any provision of the Terms or part thereof is rendered void, invalid, illegal or
unenforceable by any legislation to which it is subject or by a decision of a court of
competent jurisdiction (“Affected Provision”), the Affected Provision shall be rendered void, invalid, illegal or unenforceable only to that extent and it shall in no way affect or prejudice the enforceability of the remainder of the Affected Provision or the other provisions of the Terms.
18.1. You must review your notices and Nook Transaction history, and promptly report any questions, apparent errors, or unauthorised Nook Transactions. Failure to contact us in a timely manner may result in loss of funds or other adverse consequences.
18.2. We may contact you from time to time to notify you of changes or information regarding your Account. It is your responsibility to ensure you regularly check the Application and that your contact information stored on your profile in the Application is up to date.
19.1. For the purposes of these Terms, “Personal Data” means information about you, from which you are identifiable, directly or indirectly, including but not limited to your name, identification card number, birth certificate number, passport number, nationality, address, telephone number, credit or debit card details, race, gender, date of birth, email address, any information about you which you have provided to the Company by any means and/or any information about you that has been or may be collected, stored, used and processed by the Company.
19.2. The provision of your Personal Data is voluntary. However, if you do not provide the Company your Personal Data, your request for an Account may be incomplete and the Company may be unable to allow you access to the Services.
19.3. You consent to and the Company reserves the right to transfer your Personal Data to its related entities and third-party service providers (whether in Singapore or overseas) reasonably necessary for the purpose of providing our Services.
20.1. The Company reserves and retains all right, title and interest, including all related intellectual property rights, in the Application and by extension, the Service and any suggestions, ideas, enhancement requests, feedback, recommendations or other information provided by you or any other party relating to the Service.
20.2. The Company’s name, the Company’s logo, the Services, and/or the Application are trademarks of the Company, and no right or license is granted to use them.
20.3. For the avoidance of doubt, the term the “Application” herein shall include its respective components, processes and design in its entirety.
21.1. Any complaints about us or feedback/query regarding the services we provide should be addressed to our customer service hotline and/or email address.
22.1. The Company may, from time to time, amend and add to these Terms. You agree that the publication of any amendment to the Terms on the Website and/or through the Application is sufficient notice to you and that your continued use of the Services shall constitute your acceptance of such amendment of the Terms.
23.1. The fees applicable to you for the issuance of the Nook Card shall be set out in the pricing schedule provided to you by the Company (as revised, amended or restated from time to time) (“Fees”) and the Fees are strictly non-refundable unless stated otherwise by the Company.
24.1. The Company may, at its sole discretion, terminate these Terms at any time for any reason, including where:
a. you breach of any term of these Terms and (if such breach is remediable) fail to remedy that breach within a period of 7 days after being notified in writing to do so; or
b. the result of laws, payment scheme rules, regulatory authority rules or guidance or any change in or any introduction thereof (or change in the interpretation or application thereof) means that it is unlawful or contrary to any such law, rules, order or regulations for either of the parties to perform or give effect to any of its obligations hereunder and such obligations cannot be readily severed from these Terms.
24.2. You may terminate your Account with the Company at any time for any reason via the Application.
24.3. The termination of these Terms will not affect any of our rights or your obligations arising under these Terms.
24.4. Your Account will be closed upon termination of these Terms in accordance with clause 22 (Amendments to these Terms) and clause 24 (Termination). You accept that after your Account has been closed, the Company will store personal data about you, your Nook Transactions, E-Money Transfer between Accounts and your Top-Ups to your E-Wallet for a period of five years.
24.5. If your E-Wallet holds a balance at the time of its closure, we may ask you to withdraw your funds within 2 weeks, during which your E-Wallet will be accessible for the purpose of withdrawing the remaining balance only. When your Account is closed, any pending instructions will be cancelled.
24.6. You may not close your Account to evade an investigation. If you attempt to close your Account while the Company is investigating, the Company may freeze the account to protect all parties to the Services, its affiliates, or a third-party against any liability. You will remain liable for any obligations related to your Account even after it is closed.
25.1. These Terms shall be governed by and construed in accordance with the laws of Singapore.
25.2. In the event of any claim, dispute or difference that may arise out of in connection with the Terms and/or the Services (including any question relating to the existence, validity of termination of the Terms) (“Dispute”), you agree to enter into negotiations with the Company in good faith to resolve such Dispute.
25.3. Each party submits to the non-exclusive jurisdiction of the courts of Singapore.