PAYMAYA NEGOSYO TERMS AND CONDITIONS

This PayMaya Negosyo Terms and Conditions shall be valid and applicable to all PayMaya Negosyo business partners

1. DEFINITION OF TERMS

Unless the context otherwise requires, the following terms used in this Agreement shall have the following meanings:

A. “PayMaya Philippines, Inc.” or “PayMaya” – operator of PayMaya Card System, and PayMaya Negosyo Agent; regulated by Bangko Sentral ng Pilipinas (BSP)
B. “Account Holder” – refers to the principal PayMaya Account holder whose Account may be evidenced by and/or PayMaya Card and/or linked/accessed by a mobile phone.
C. “Authorized Agent” – refers to as Partner and duly registered and authorized partner of PayMaya to perform services for business use.
D. “Commission” – an amount credited to Partner account as sales commission for performing Services for PayMaya.
E. “KYC” – procedure whereby the authorized agents must perform the BSP and AMLC-mandated Know-Your-Customer activity on customers who will perform cash-in, cash-out, and other services as prescribed by PayMaya. This includes collection of customer’s information through the system/tool and transaction slip (as applicable) provided by PayMaya and validation of ID presented.
F. “Master Aggregator” or “MA” – a partnered third-party entity that performs Account Management Services on behalf of PayMaya.
G. “PayMaya Account” – an Account that stores Philippines Peso (Php) value which resides in the PayMaya Card System; can be an Account which may be linked to the subscribers’ mobile phone and which may or may not be evidenced by a physical PayMaya card. Functionalities include, but are not limited to, transfer of funds, over-the-air reload of airtime, bills payment, top-up of PayMaya credits, and balance inquiry.
H. “PayMaya Negosyo Account” – account assigned to the Partner in the PayMaya Card System to be used as source account for Cash Loading and Cash Out Services, over-the-air reload of airtime, encashment and top-up of PayMaya credits, QR payment acceptance, and bills payment services.
I. “PayMaya Negosyo Agent” – refers to the business establishment accredited by PayMaya to accept QR payments for such business establishment’s sale of goods and/or services. Other capabilities include, but are not limited to, transact remittance and bills payment services, top-up of PayMaya credits, sale of over-the-air reload of airtime and online gaming pins through the PayMaya App.Also refers to the “Partner” or the “Merchant” after undergoing Merchant Accreditation as defined in this Agreement.
J. “QR Code” – a quick response code issued by PayMaya to a Merchant, wherein if used, would refer to the payment details of the Merchant.
K. “QR Payment” – is a service of PayMaya wherein an Account Holder may pay any availed product or serviced through the scanning of the Merchant’s assigned QR Code through their PayMaya App.
L. “PayMaya Card” – reloadable cash card which may be used for payment of goods and services, issued under the Visa program or MasterCard program if a virtual card is used, PayMaya Card is PayMaya’s proprietary branded card which carries the PayMaya logo and brand identity and can be used to pay for purchases in VISA and PayMaya affiliated establishments and cash withdrawal via PayMaya’s partner banks and ATMs.
M. “PayMaya Card System” – the card processing system, hardware or software necessary for facilitating PayMaya operations.
N. “Remittance and Transfer Company” – refers to any entity that provides Money or Value Transfer Service. This includes performing activities as Remittance Agent, Remittance Platform Provider, and/or E-Money Issuer.
O. “Mobile Phone” – a handheld device that is used for making and/or receiving calls, messages, operating systems where applications are used and other features with or without physical connection to a network.
P. “PayMaya Negosyo Remittance” – transfer money from a PayMaya Negosyo Account to another PayMaya Account or PayMaya Negosyo Account
Q. “PayMaya Negosyo Centers” – a venue where an Account Holder may avail of the PayMaya Negosyo Services.
R. “PayMaya Negosyo Posters” – refers to all PayMaya provided posters regarding, but not limited to, PayMaya Negosyo and PayMaya processes and compliance awareness programs.
S. “PayMaya Negosyo Services” – Refers to the types of financial services issued and authorized by PayMaya whether international or domestic. These services can be availed of by using the PayMaya Negosyo Account or a Mobile phone with a PayMaya Account, such as, but not limited to, Cash Loading and Cash Out Services, over-the-air reload of airtime, encashment and top-up of PayMaya credits, QR payment acceptance, and bills payment services. May also be collectively called ”Services.”
T. “PayMaya Negosyo Transaction Slips” – refers to transmittal slip showing customer mandatory information.
U. “SPU” – refers to Smart Padala University which is a program that focuses on the entire training experience of an agent from recruitment to orientation to re-training, etc. For clarification, when referring to a specific portion of SPU in this document, it will be indicated as SPU “portion” i.e. SPU orientation, SPU recruitment. May also refer to “PayMaya Negosyo University.”
V. “SMS Notification” – a short message service that notifies Account Holder of all PayMaya transactions made by using the PayMaya Card or a mobile phone with a PayMaya Account.
W. “Super Agent License” – refers to the issued license of Bangko Sentral ng Pilipinas to PayMaya to accredit its Money-In and Money-Out Agents to perform money transfer services. This is on top of the RTC License issued to PayMaya by BSP.
X. “VISA” – a payment card product that is recognized and accepted by major establishments in the Philippines and other countries and territories where VISA is accepted.
Y. “Mastercard” – a payment card product that is recognized and accepted by major establishments in the Philippines and other countries and territories where Mastercard is accepted.
Z. “Face-To-Face (In-Store) Purchase” – refers to in-store transactions made through the PayMaya Card and/or through mobile phone using QR Code where PayMaya account is linked that is presented with Merchant for payment of goods and services.
AA. “Merchant Accreditation” – refers to the step wherein the Merchant and PayMaya will enter into a formal Agreement signed by the authorized signatories of both parties. Refers also to the step taken by PayMaya to verify the authenticity and eligibility of the Merchant to become an accredited Merchant of PayMaya.
BB. “Merchant Discount Rate or MDR” – refers to the fee charged by PayMaya for every transaction as a percentage of the ticket amount.
CC. “Merchant Settlement Account” – refers to the PayMaya merchant account assigned to the Merchant wherein the payment transactions made via PayMaya are credited prior to being transferred to Merchant’s Settlement Account less the Merchant Discount Rate. Merchant shall follow the terms of service stipulated in this link https://paymaya.com/terms-and-condition/. Also refers to the PayMaya Negosyo Account.
DD. “Mobile Payment” – refers to a payment transaction using PayMaya Account. The Account Holder uses his/her mobile phone to transact payment.
EE. “PayMaya App/PayMaya Web Portal” - mobile application owned and serviced by PayMaya, that serves as the interface between the Account Holder and his/her PayMaya Account.
FF. “Point-of-Sale or POS” – refers to the device or terminal provided by PayMaya, used to accept and process card payments.
GG. “QR Pay” – service being offered by PayMaya that allows the Merchant and/or Partner to accept QR Payments through the QR Code.
HH. “QR Code” – a quick response code issued by PayMaya to a Merchant, wherein if used, would refer to the payment details of the Merchant.
II. “QR Payment” – is a product of PayMaya wherein an Account Holder may pay any availed product or serviced through the scanning of the Merchant’s assigned QR Code through their PayMaya App.
JJ. “Settlement Account” – refers to a PayMaya Account or a bank account where the actual payments are being credited to the merchant
KK. “Short Messaging Services (SMS)” – refers to a communication protocol allowing the interchange of short text messages between mobile telephone devices.
LL. “Transaction” – refers to any and all acts that the Account Holder performs to its PayMaya Account to avail of the Services that PayMaya offers.
MM. “Transaction Amount” – refers to the sum of money which an Account Holder uses in order to effect the Transaction.
NN. “Transaction Request” – refers to the request of an Account Holder to effect a Service in his/her account.
OO. “Sender/s” – refers to a person who sends money using the PayMaya’s remittance service
PP. “Recipient/s” – refers to a person to whom money or value is paid or credited through the PayMaya’s remittance service
QQ. Card Transaction – refers to any and all acts that the Account Holder performs to its PayMaya Account using his/her PayMaya Card
RR. “Payment Request” – refers to the request of an Account Holder to effect a payment to his/her account, such as, but not limited to, bills payment requests.

2. PARTNERSHIP STRUCTURE

Partner or Authorized Agent shall offer the services in all its branches in the Philippines using the Partner’s PayMaya Negosyo Account/s. For purposes of this Agreement, Partner may include additional branches provided, Partner submits all documentary requirements and a prior written approval from PayMaya has been obtained.

3. APPOINTMENT OF MASTER AGGREGATOR

PayMaya may appoint a Master Aggregator (“MA”) to perform Account Management services. The Partner hereby expressly, unequivocally, and voluntarily accepts the MA’s jurisdiction and authority over it and its authority to perform the Account Management Services over its operations.

The Partner represents and warrants that:
     a. It will submit to the MA on the latter’s performance of the Account Management Services;
     b. It will cooperate with the MA at all times by:
          (i) giving the MA all information and documents required by it to perform its Account Management Services;
          (ii) entertaining and responding promptly to all of MA’s queries, as far as warranted and covered by its obligations under this Agreement;
          (iii) collaborating with MA in any fraud or criminal investigation it may conduct;
     c. Liaise with the Master Aggregator’s Agent Coordinator at all times.

4. GENERAL TERMS AND CONDITIONS

This Agreement governs the terms under which the Partner may access and use the products of PayMaya, which includes the PayMaya Card, PayMaya Negosyo Services such as, but not limited to, Bills Payment, its website and App (as applicable) and the services associated with it. By accessing, registering or using the PayMaya Negosyo Services, the Partner agrees to be bound by the terms of this Agreement.

PayMaya reserves the right to modify, suspend, stop or terminate any of its Service without notice, at any time and from time to time.

PayMaya may impose limits on the Transaction Amount, subject to fifteen (15) days prior notice to the Partner and/or Account Holders. PayMaya may do so on a per Transaction basis or on an aggregate/combined (for Account Holders with duplicate and/or multiple accounts) basis, or on a daily, weekly or monthly basis and either in respect of each Service that the Partner requests. In the same way, PayMaya may approve purchases, service transactions, or other Card transactions which in the aggregate cause the card usage to exceed the limit without waiving any of PayMaya’s right hereunder.

PayMaya reserves the right to verify any activity that is done through the Services, especially if it involves compliance with the AML or with other laws, rules or regulations. This is applicable for Transactions executed by the Partner, which may be for the customer or for the Account Holder for Sending Money, Receiving Money, Bills Payment and/or other Services.

Delivery times as stated in service levels or elsewhere on the website or collaterals of PayMaya are representative of a “normal” or average service and are not a guarantee of an individual Service or transaction time. PayMaya will attempt to process Transactions promptly, but any Transaction may be delayed or cancelled for a number of reasons including but not limited to: efforts to verify the Partner’s and/or the Account Holder’s identity; to validate Transaction instructions; to contact the Partner and/or the Account Holder; or due to variations in business hours and currency availability; or otherwise to comply with applicable law.

PayMaya is not obliged to process any particular transaction including the Bills Payment service provided to customers. When Partner submits a Transaction Request, the Partner is requesting for processing the Transaction on behalf of the Partner and consenting to the execution of the Transaction. PayMaya may, in its sole discretion, choose whether or not to accept the offer to process that Transaction. If PayMaya decides not to process the Transaction, the Partner will be promptly notified of this decision and repaid the Transaction Amount received by PayMaya, provided there is no law that prohibits from doing such. PayMaya may also suspend or cancel processed Transactions at its sole discretion. For Bills Payment, only bills, statement of accounts, or an equivalent document issued by the accredited Merchants shall be accepted for payment. The Partner shall be responsible for informing the Account Holder or customer as to whether the bill is issued by an accredited Merchant.

PayMaya may, in its absolute discretion, refuse or cancel Transaction Requests, Payment Requests or Transactions if: (a) PayMaya is unable to verify the identity of the Partner and/or the Account Holder and/or customer; (b) PayMaya is unable to verify the identity of the Recipient; (c) Partner does not comply with information requests pursuant to clause 3.4; or (d) PayMaya reasonably believes the Partner is using the Service, or allowing it to be used, in breach of this Agreement or any applicable laws, rules or regulations.

If PayMaya executed the Transaction in accordance with the instructions the Partner has provided, and that information proves to have been incorrect, PayMaya is not liable for the incorrect execution of the Transaction. PayMaya may charge the Partner a reasonable fee, reflective of PayMaya’s efforts, to do so. Unless there are exceptional circumstances, no adjustment will be made for any currency fluctuations which may have occurred between the time the Partner pays PayMaya the Transaction Amount and the time of credit.

PayMaya shall have the right to automatically suspend or block the Transaction in the event that PayMaya has reason to believe that the transaction may be illegal or used for fraudulent or suspicious businesses or by an unauthorized person. PayMaya may, but shall not have the obligation to, inform the Sender or the Account Holder or the customer prior to suspending or blocking the transaction pursuant to this clause. The Sender or the Account Holder or the customer acknowledges the authority of PayMaya to suspend or block the transaction and accordingly, the Sender or the Account Holder or the customer shall hold PayMaya free and harmless against any and all consequences of such suspension or blocking, or any loss or damage which the Sender or the Account Holder or the customer may suffer as a result thereof. This is applicable whenever the Transaction is executed by the Partner or that of customers availing of the Bills Payment and/or other Services.

A copy of this Agreement may be accessed through the PayMaya App referred to in this Agreement.

5. PAYMAYA NEGOSYO CENTER SERVICES

     A.    PayMaya Mother Account

PayMaya shall provide Partner with PayMaya Negosyo Account that shall be used by the Partner to engage in the Services as defined above and in the Annexes of this Agreement.

     B.    Fulfillment Services

1. Partner shall act as a fulfillment channel for Services offered by PayMaya Negosyo Center.
2. The Partner’s PayMaya Negosyo Account shall act as the fund source for performing PayMaya Negosyo Center transactions.
3. Crediting of Commission. The Partner is entitled to receive commission for Services as identified by PayMaya. Commission will be credited to the registered PayMaya Negosyo Account of the Partner.
4. Service Fees. The Partner will be charged with service fees as identified by PayMaya.
5. Customer Rates. The Partner shall follow required rates to customers. Violation of this term may be subject to temporary or permanent deactivation of the account or termination of this Agreement.
6. Deactivation of Account. Deactivation of account will depend on the violations committed by the Partner and evaluation of PayMaya. PayMaya has the right to conduct a regular evaluation of the performance of the Partner and PayMaya has the right to suspend or terminate the Account of the Partner if the account is not cost effective or there are events of breach in the Account

     C.     Know Your Customer (KYC) Transaction

1. The partner must have a reliable and acceptable customer identification system either on a digital platform or through a physical copy of the documents with the ability to provide customer information within 24 hours upon request by PayMaya.
2. The Partner shall conduct face-to-face KYC of both the remitter/sender and the beneficiary by providing due diligence in checking on details in their submitted forms versus the customer/individual availing the remittance service.
3. The Partner shall accomplish full customer information that PayMaya will impose as part of its regulatory requirement.
4. The Partner shall request for a clear copy of at least 1 government-issued valid ID and perform validation against the customer information provided.
5. The Partner shall require the customer to fill-out a transaction slip and validate the information accordingly. Partner shall also ensure that all information are completely provided by the customer.
6. The Partner shall keep a copy of the transaction slip and valid ID for a period of five (5) years. PayMaya has the right to collect transaction slips with supporting identification documents deemed necessary and within the next business day, without delay as part of its business operating procedures.
7. Representatives of the partner shall have adequate and consistent training in the same level as those conducted by PayMaya i.e., SPU.
8. PayMaya has the right to perform periodic reviews on the KYC processes of the Partner and reserves the right to impose sanctions for inadequacy to meet the minimum standards as may be required by law or by PayMaya. Sanctions list are as stated in Annex A of this Agreement.
9. Should internal, external or BSP audit discover that there are irregularities or misrepresentation in the conduct of the KYC, Partner shall be held liable to PayMaya for any damages it may suffer, notwithstanding other civil or criminal liabilities the Partner may have committed.
10. The following shall be applicable to the Partner for outsourcing of the conduct of KYC, per BSP requirement:

A. Material development. The Partner shall immediately inform PayMaya of any developments which may have material impact on its ability to meet its obligations under this Agreement, including but not limited to any findings made by its internal or external auditors or any adverse legal actions filed against it.
B. Security breaches. The Partner shall undertake to implement an incident response process that will be called upon in the event of a security breach or other such incident affecting the service provided by the Partner to PayMaya. The process will involve contacting PayMaya within forty eight (48) hours upon discovery of the incident.
C. Business continuity plan. The Partner shall regularly submit its Business Continuity Plan or Disaster Recovery Plan and Data backup procedures covering business continuity contingency measures, subject to PayMaya’s approval. The Partner shall provide regular updates and confirmation duly signed by Partner authorized officer indicating the date as to when the back-up procedures of data has been executed.
D. Transition. Upon termination of this Agreement, at the request of PayMaya, the Partner shall provide the necessary transition assistance in the winding up of the services being provided and turn-over of such services to PayMaya or other service provider, including, but not limited to, the return or destruction of any and all information about PayMaya, its operations and processes acquired by the Partner as a result of or in relation to the provision of services under this Agreement. PayMaya reserves the right to send its duly authorized representatives to the offices of the Partner to ensure that all such information have been returned/ destroyed.
E. Right of access/right to inspect. Upon prior notice, the Partner agrees to allow PayMaya, through its authorized representative/s, auditor (internal or external), as well as examiners of the Bangko Sentral ng Pilipinas (BSP), to visit and enter the premises of the Partner at reasonable times and subject to the Partner’s security measures, to inspect its records, finances, properties and operations. Auditors shall be allowed access to information regarding the outsourced service or activity which they need to fulfill their responsibilities. BSP shall be allowed access to the operations of the Partner in order to review the same in relation to the outsourced service or activity.
F. Audit findings. The Partner shall immediately take the necessary corrective measures to comply with the findings and recommendations of the BSP examiners, internal/external auditors of PayMaya and/or its own auditors.
G. Change of ownership. The Partner undertakes to inform PayMaya if any change of ownership, assignment, attachment of assets, insolvency or receivership of the Partner. PayMaya reserves the right to terminate this Agreement in accordance with Article 16 of this Agreement.
H. Segregation of Data. The Partner shall ensure that it has all processes to comply with the requirements of the law, rules and regulations, particularly, with regards to data processing, management and security. The Partner shall ensure that PAYMAYA’s data shall be separated from Partner’s own data and that of its other clients. Co-mingling of data shall be strictly prohibited. Further, the Partner may keep the data only as long as necessary to perform its obligations under this Agreement.


     D.     Disputes and Erroneous Transactions

The details in the SMS/text confirmation message after every transaction and/or the entries in the Statement of Transactions are presumed true and correct unless Account Holder notifies PayMaya Negosyo Hotline in writing of any disputes thereon within fifteen (15) calendar days from the date of transaction. If no dispute is reported within the said period, all transactions and the entries in the Statement of Transactions are conclusively true and correct.

The following shall serve as confirmation of payment from PayMaya for PayMaya Negosyo-related transactions:
1. The official transaction slip issued by PayMaya signed by both the agent and the customer.
2. An SMS from PayMaya Negosyo containing the transactions details will be sent to the customer.

Disputed transactions shall only be credited back to Account Holder’s account once the claim/dispute has been properly processed, investigated, and proven to be in favor of the Account Holder. On the other hand, there shall be no reversals for transactions made through keyword- and/or menu-based commands and erroneous transactions made by the Partner.

Transactions are authorized and conclusive between the Merchant and Account Holder, when either one or all of the following conditions are met; a) the Account Holder’s signature appears on or is affixed on the sales slip for transactions or the Merchant certifies that the Account Holder agrees to the Terms and Conditions of Use of PayMaya upon transaction, e.g. through SMS.; b) the password/PIN is successfully keyed-in for e-commerce, electronic and/or cellular phone-based transactions; c) SMS is sent from the Account Holder’s Mobile Phone; d) when the Account Holder has successfully unlocked his/her PayMaya Account for internet transactions; or e) once a user is authenticated and logged-in to the PayMaya App, Web Portal, or Platform, or accessed through an accredited Third Party platform or channel; this shall be sufficient evidence that any and all activity has been made and validated, and cannot be disputed by the Account Holder nor the Merchant. In above cases, the reference number in the SMS confirmation shall be the Account Holder’s proof of payment but not considered an issuance of a receipt in accordance with the Bureau of Internal Revenue requirement.

Any dispute on the purchase or service rendered shall be settled between the Account Holder and the Merchant without the involvement of PayMaya. Should the Merchant and Account Holder agree on a refund, the Merchant through its authorized representative shall contact PayMaya Business and provide the necessary details for PayMaya to check the transaction and make the necessary steps for the refund. Same rule applies even if Merchant and Partner is one and the same.

PayMaya, the Bangko Sentral ng Pilipinas, its partners, and any other PayMaya-authorized body will have the right to collect all business and technical information and data, and related documentation, in whatever form provided, recorded or unrecorded (i.e. transaction slips, logbook, etc.), within the next business day. In cases of the BSP or other partners and/or regulatory bodies directly coursing their requests to the Partner, PayMaya must be duly informed by the Partner of such requests.

     E.     Marketing and Promotions

1. Partner shall ensure that PayMaya Negosyo Services are promoted to Customers.
2. PayMaya shall deploy standard merchandising materials such as counter top displays, posters and other Smart Padala by PayMaya signages that may be mutually agreed upon by both PayMaya and the Partner. The Partner shall provide adequate advertising spaces, clearly visible to the public, in its branches such as, but not limited to, counters and entrances. Likewise, PayMaya may also display standard merchandising materials such as posters, take-one standees and fliers in the branches of the Partner.
3. The Parties may also agree on joint marketing programs to promote the PayMaya Negosyo Services.
4. The Partner may opt to create its own marketing programs to further promote the PayMaya Negosyo Services, provided that the Partner seeks written approval from PayMaya prior to implementation and production of marketing materials.

     F.     Modes of Accepting Payments

1. Merchant shall allow the Account Holder to purchase goods and/or services thru mobile payment, QR Payment, POS Terminals, and/or through the PayMaya gateway services.
2. The selling price of any goods and/or services sold/rendered by the Merchant to the Account Holder shall be the regular selling price or cost to cash customers without adding any percentage surcharge and without requiring the Account Holder to pay the whole or any part of the surcharge. However, with respect to "sales" or "special offers" wherein price of merchandise and/or service is reduced from the original price, Merchant has the discretion to sell at the original price instead of "special offer" price for purchases made on any mode of payment listed above. All modes of accepting payments may be utilized to pay for the full or part of the selling price, provided that, in case of the latter, the balance of the selling price shall be paid in cash or in such other form as may be acceptable to Merchant.
3. Merchant shall at all times be responsible for the accuracy and correctness of any information contained in the printed receipt (if applicable). Merchant hereby renders PayMaya free and harmless from any liability, claim or dispute which may arise in connection with such printed receipt.
4. Merchant shall implement PayMaya-prescribed processes in the conduct of their business to prevent and identify fraud and money laundering activities. Merchant shall notify PayMaya within fifteen (15) days of occurrence and remedies put in place within the same time. Failure to notify PayMaya within the period given shall permit PayMaya to freeze payments to the Merchant’s PayMaya Account/Merchant Settlement Account, and/or terminate this Agreement without prior notice.
5. Merchant shall be fully liable for damages incurred due to any fraudulent activity committed by the Merchant or any of its officers, agents or employees.

     G.     Settlement of Payments

1. PayMaya shall settle to the Merchant via the PayMaya Negosyo Account;
2. PayMaya shall, during the term of this Agreement, pay the Merchant at such time/s determined by PayMaya according to the Service Level Agreement, the total amount of the QR Payment processed by the Merchant through the PayMaya App which have been submitted less of:

a. the Merchant Discount Rate on all Card Transactions; (PayMaya reserves the right to change the Merchant Discount Rate upon prior  notice to the Merchant)
b. the government taxes, if any;
c. the aggregate refunds or rebates granted to Cardholders, if applicable; and
d. all other amounts payable or due to PayMaya under this Agreement or otherwise.
PayMaya shall not be responsible for the withholding and remittance of applicable taxes to the Bureau of Internal Revenue on the income payment to the Merchant.


3. All payments made to Merchant shall be made available to PayMaya Account or credited to the Merchant’s bank account. For crediting to the Merchant’s account with banks, the relevant transfer fees and other related charges shall be borne by the Merchant.
4. All approval codes given to the Merchant do not guarantee outright payment, there may be instance/s of fraud and/or disputes that may preclude such payment. If the Merchant does not raise any objection to the settlement amount by PayMaya within thirty (30) days after the date PayMaya issues the check or credits the Merchant’s account, the Merchant shall be deemed to have accepted such amount as correct, provided that nothing in this section shall preclude PayMaya from correcting any error or discrepancy in such amount paid.It is the responsibility of the Merchant to settle or capture the transactions in a timely manner since authorizations have a validity period. In cases where the Merchant has a late settlement or non-settlement within the validity period, PayMaya reserves the right to forfeit settlement.
5. Subject to proof to the contrary, any payment by PAYMAYA under this Agreement, whether or not the Merchant has complied with all its obligations under this Agreement, shall be made without prejudice to any claims, rights or remedies that PayMaya may have against the Merchant, and shall not constitute any admission or acknowledgement by PayMaya that the Merchant has duly performed its obligations under this Agreement or of the correctness of the amount so paid.

     H.     Report to Merchants

1. Merchant will receive SMS real-time for every purchase transaction made by the Account Holder
2. If the settlement is via another bank account, the merchant will be provided a report the next business day.

     I.     After Sales Escalation Matrix

For inquiries, concerns, or disputes regarding the Transactions arising from the use of any of the PayMaya Negosyo Services, the Partner may contact PayMaya Negosyo Hotline, PayMaya’s Official Social Media account/s, and/or the assigned PayMaya account officer.

     J.     PayMaya Card Reselling

The Partner shall be accountable for securing the PayMaya Cards upon receipt of the cards from the PayMaya representative or duly authorized courier prior to distribution to the customers.

Any request for replacement of lost, compromised, destroyed, damaged or defective cards shall be communicated to PayMaya in writing or electronic mail within five (5) business days, together with a surrender of the card for replacement (except for cases of lost cards). PayMaya shall process the replacement within five (5) to seven (7) business days, subject to fees (as stipulated in Annex C) and any delivery charges as applicable and upon submission of necessary documents, if any. The applicable fees and charges must be settled prior to delivery of the replacement cards.

Any losses arising from the lost, compromised, damaged, or destroyed cards that are directly attributable to the Partner's negligence or lapses in enforcement of security measures shall be settled by the Partner.

     K.     Password Management

It is the responsibility of the Merchant to securely keep their PIN and/or Password. Any fraudulent activity of the Merchant and/or its agents, employees, officers, and authorized representatives such as but not limited to unauthorized sale, void and settlement, that brought about financial losses to the Merchant is its sole responsibility.

6. NON-EXCLUSIVITY

This Agreement is non-exclusive unless otherwise agreed by the Parties on specific service/s with a specific period. Partner shall use its best efforts to develop, promote and increase the Money Transfer Service and to promote and enhance the good will associated therewith and with the trade names, and trademarks.

However, should the Partner decide to enter into an agreement with another Party that directly offers competing services, such as, but not limited to, electronic money and remittance services, that encroaches the current customers and/or target market of PayMaya, a prior written approval must be obtained by the Partner from PayMaya.



7. FEES AND TAXES

The Partner will not be charged with service fees and maintenance fees for the use of the PayMaya Negosyo service. In addition, the Partner will not be charged with dormancy fee for non-use of the PayMaya Negosyo Account. Accounts with no usage for six (6) months will be subject for review of PayMaya. PayMaya shall have the right to continue or discontinue the access of the Partner to the PayMaya Negosyo services depending on the assessment of PayMaya without prior notice to the Partner. PayMaya also has the reserved right to impose charges such as services fees, maintenance fees, and/or dormancy fees in the future, subject to a 30-day prior notice to the Partner. For the detailed fees and charges on PayMaya Negosyo services, see Annex B and Annex C.

Merchants will be charged a merchant discount rate of processing per transaction.
All amounts payable under this Agreement shall be considered as inclusive of all fees, taxes, including value added tax (“VAT”), and all other liabilities to the government arising from or in connection with this Agreement.
The Valued Added Tax (VAT), if any, shall be for the account of Merchant. In the event that Merchant will be required to withhold tax and remit the same to tax authorities, Merchant can reimburse an expanded tax of 2% of the total Merchant Discount Rate from PayMaya provided that Merchant shall first provide PayMaya with a copy of the basis or proof of the Merchant’s obligation to withhold tax. Thereafter, the Merchant shall furnish PayMaya with the corresponding Certificate of Tax Withheld not later than twenty (20) days after the end of each quarter.

All national and local taxes incidental to or arising from this Agreement which the national and/or local government of the Philippines are authorized to impose shall be for the sole Account of the Partner. In the event that PayMaya will be required to withhold tax and remit the same to tax authorities, PayMaya shall deduct the said tax from payments in relation to this Agreement. PayMaya shall furnish Partner with the corresponding certificate of withholding tax within twenty (20) days after the end of each quarter. If Partner is entitled to exemption from such withholding tax on any amount payable to them in relation to this Agreement, Partner shall submit such certifications or documents as may be required in order to effect such exemption.

8. LIQUIDITY MANAGEMENT

Partner shall follow and observe recommended fund liquidity level by PayMaya to efficiently and fully perform assigned services.
The partner must ensure at all times that it has enough funds to accommodate the daily demand for all its availed service(s) under PayMaya. Required and recommended liquidity level may be subject for review from time to time as deemed necessary by PayMaya. Funding of account will be the sole responsibility of the Partner.

In connection with the above, Partner must secure Php 5,000 in lump sum for topping up during SPU before they can be officially on-boarded as a PayMaya Partner Agent. If Partner fails to do this within thirty (30) calendar days after account creation, appropriate sanctions will be given which may include, but is not limited, to service suspension until the Partner is able to top up the Php 5,000 lump sum. This requirement is separate and distinct from passing the SPU orientation however both are considered onboarding requirements.

9. QUARTERLY REVIEW OF ACCEPTANCE

Merchant's establishment/s and online store shall be subject to quarterly review by PayMaya in terms of volume. PayMaya hereby reserves the right to terminate this Agreement or impose a higher discount fee on the payments accepted by Merchant through QRPay in case of low volume for three (3) consecutive months as may be reasonably determined by PayMaya, or as may be reasonably warranted by the outcome of such review.

10. LOYALTY/PROMOTIONAL PROGRAM

The Merchant hereby agrees to participate in loyalty/promotional programs which may be developed and implemented by PayMaya, without cost or expense to the Merchant. The Merchant may however develop and implement its own loyalty/promotional program at its own cost and expense, subject to PayMaya’s prior written consent. PayMaya shall not be liable in case of failure of Merchant to fulfill Merchant’s obligations under its own loyalty/promotional program and hold PayMaya free and harmless from any liability and claims from its customers/clients/sub-merchants and any third party.

11. SYSTEMS AND TOOLS

Partner shall use nominated or issued systems and tools by PayMaya to perform assigned services. Hardware requirements shall be provided by the Partner. Partner shall agree and comply to the specification requirements of the equipment required to operate the Services. Partner is expected to observe data security and confidentiality when using the systems and tools nominated or issued by PayMaya. Partner must have the necessary equipment as may be required to avail certain PayMaya products. Specifically, the Partner must have his/her own smartphone and/or mobile phone with the following minimum device requirements (which may be changed by PayMaya as applicable):


· Stable internet connection and/or data connectivity
· Android 7.0 Nougat operating system
· 1.2GHz Quad-Core
· 8GB ROM + 1GB RAM
· 5MP Main Camera
· LTE/4G Sim Slot (Optional for Freenet access)

12. RECORDS

A.   Partner shall safely keep records of all PayMaya Negosyo Transactions and records of purchases such as transaction receipt/s and/or invoices in the form of physical transaction slips or electronic documents or digital records within a period of five (5) years from the date of the transactions in accordance with the Customer Retention and Record keeping requirements of Anti-Money Laundering (AML) laws of the Philippines. Once the five (5) years have eclipsed, such records will be the property of PayMaya and will be subject to audit and review by PayMaya, the Bangko Sentral ng Pilipinas and/or any other examination body authorized by PayMaya. These documents must be made available to PayMaya, internal or external auditors and/or government regulators or other competent authorities within three (3) working days from the date of request. Upon termination, Partner must turn-over all records of PayMaya Negosyo transactions.

The Partner shall be in charge of the safekeeping of the KYC documents. These documents must be made available to PayMaya, internal or external auditors and/or government regulators or other competent authorities within (3) working days from the date of request. The Partner’s failure to comply within the said period shall give PayMaya the right to charge from the Partner the penalties that regulatory bodies may impose arising from the unavailability of the requested documents. In addition, the Partner must implement a commercially reasonable level of security in accordance to Section 21 of this Agreement.

For the destruction of records, the Agent must provide a signed certificate stating the details of the destruction which should include but not limited to the destruction process, period of the documents destroyed, and type(s) of documents destroyed. Electronic documents or digital records shall supersede any physical copy of the transaction unless proven that there is a system error that questions the reliability of the digital record.

        B.     Submission of Transactions

Merchant should comply with the requirements for submitting Card or QR Transactions to PayMaya set forth in this Section:
a. Merchant must submit to PayMaya records of valid Card or QR Transactions only between the Merchant and a bona fide Cardholder or Account Holder.
b. For transactions where payment has transpired before the actual delivery of the goods or services. Merchant must submit records of valid Card or QR Transactions to PayMaya no later than three (3) business days after the Card Transaction date, except in cases of disputes and/or investigations wherein the Merchant shall keep a record of purchases and keep custody of the transaction receipt/s and/or invoices for a period of twenty-four (24) months from date of purchase and agree to cooperate with PAYMAYA in allowing PayMaya’s personnel or authorized representative to examine these records and/or provide photocopies and information that PayMaya may need to conduct and resolve customer service or risk control activities.

13. TRAININGS, EXAMS AND CERTIFICATIONS

During recruitment, the Partner will be provided basic compliance training and materials that discusses the risks and responsibilities of becoming a PayMaya Negosyo Agent. An acknowledgment receipt will be submitted to PayMaya confirming their undergoing of the training and receipt of materials as well as committing to attend the SPU orientation as an onboarding requirement if their application is approved.

As a final onboarding procedure, Partner must attend the SPU orientation and pass the test before being certified as an official agent under the Smart Padala by PayMaya brand. Failure to pass will require the Partner to attend the next SPU orientation. Repeated failures/absences to attend the SPU orientation will result in a temporary suspension of their account until they attend/pass. An official certificate will be issued to the Partner once they pass the SPU orientation. This only certifies their passing of the SPU test which reflects their understanding of the training given to them.

The Partner has its own reliable and acceptable customer identification system and training program in place. The Partner shall undergo and comply with required trainings and certifications by BSP in relation to its remittance license and by PayMaya in relation to this agreement. Training shall include, but is not limited to, AML, KYC, Consumer Protection, Fraud Awareness and PayMaya Product Trainings. Partner shall also make themselves available to any other additional training requirements sanctioned and/or provided by PayMaya. Training, exams and certifications shall include, but not limited to, owners and employed front liners of the PayMaya Negosyo Agent. Attendance, certificates and examination results shall be made available to PayMaya for reference and safe keeping.

14. LICENSE

PayMaya Negosyo Agents performing remittance services are accredited Remittance Sub-agents (RSAs) of PayMaya by virtue of the Super Agent and RTC Licenses granted by the BSP.

15. PROHIBITED PRACTICES

The Merchant shall not engage in any of the prohibited practices set forth in this Section:

a. Merchant shall not engage in any acceptance practice that discriminates against or discourages the use of a Card or QR code in favor of any other mode of payment acceptance.
b. Merchant shall not directly or indirectly require any Cardholder or Account Holder to pay a surcharge or any Merchant Discount Rate (MDR) or any contemporaneous finance charge in connection with a Card or QR code transaction. A Merchant may provide a discount to its customers for cash payments. A Merchant is permitted to charge a fee (such as a bona fide commission, postage, expedited service or convenience fees, and the like) if the fee is imposed on all like transactions regardless of the form of payment used, or as PAYMAYA has expressly permitted in writing. (A surcharge is any fee charged in connection with a Card or QR code transaction that is not charged if another payment method is used.)
c. Merchant shall not require, or indicate that it requires, a minimum or maximum Card or QR code transaction amount to accept a valid and properly presented PayMaya account.
d. Merchant shall not submit for payment into the Interchange System, and PayMaya shall not accept from a Merchant for submission into the Interchange System, any Card or QR Transaction that:
          i. Represents the refinancing or transfer of an existing Cardholder or Account Holder obligation that is deemed to be uncollectible, or
          ii. Arises from the dishonor of a Cardholder’s personal check
e. To avoid double payment, Merchant shall not accept any payment from a Customer in any other form (for example, cash or check) with respect to a charge for products or services reflected on a Charge Slip resulting from the use of a Card or QR. A Merchant also shall not accept a Card or QR as payment for products or services for which the Merchant has received or expects to receive payment in any other form, whether from the Customer or a third party. A disputed Card Transaction involving payment by other means may be eligible for chargeback under message reason code 4834 (Duplicate Processing). Merchant shall observe all applicable procedures on chargeback in the MOM.
f. Merchant shall not submit for payment into the Interchange System any transaction that is illegal, or in the sole discretion of the Card Network, may damage the goodwill of the Card Network or reflect negatively on the Marks. The following activities are considered to be in violation of this Section:
i. The sale or offer of sale of a product or service other than in full compliance with law then applicable to PAYMAYA, Issuing Bank, Merchant, Cardholder, Cards, or the Card Network. ii. The sale of a product or service, including an image, which is patently offensive and lacks serious artistic value (such as, by way of example and not limitation, images of nonconsensual sexual behavior, sexual exploitation of a minor, nonconsensual mutilation of a person or body part, and bestiality), or any other material that the Card Network deems unacceptable to sell in connection with a Mark.

16. RESTRICTED SERVICES

The following products or services that constitute, relate to or are ancillary to, in whole or in part are not allowed and are defined by PayMaya as “Restricted Service”:
a. Pornographic or illicit material or activities of any type;
b. Escort services;
c. Gambling operations, including “virtual casinos”;
d. Firearms, ammunitions, and explosives;
e. Merchant engages in “receipt of payment in advance” operation module;
f. Pyramid selling or multi-levels commission earning structure, that are prohibited under the law or regulation;
g. Goods, products, services or distributions prohibited by applicable law or under the rules, regulations or directive of the Card Network; or
h. Goods, products, services or distributions of any class or type, whether or not similar to those specified above, which are designated from time to time by PayMaya (in its sole discretion) as being subject to this definition and notice thereof being given to the Merchant, provided that no such designation or notice is required for any particular Sales to be subject to this definition.

17. LIMITATION OF LIABILITIES

A.     Disclaimer of Warranties

PayMaya makes no warranty, express or implied, regarding the performance of this Agreement or the PayMaya Negosyo Services or other Services offered hereunder.

The PayMaya Negosyo Services are offered on an “as is”, “as available” basis without warranties of any kind, other than warranties that are incapable of exclusion, waiver or limitation under the laws applicable to this Agreement. Without limiting the generality of the foregoing, PayMaya makes no warranty (1) as to the content, quality or accuracy of data or information, except as provided for under the Data Privacy Law of 2012, provided by PayMaya hereunder or received or transmitted using the PayMaya Negosyo Services; (2) as to any service or product obtained using the PayMaya Negosyo Services; (3) that the PayMaya Negosyo Services will be uninterrupted or error-free; or (4) that any particular result or information will be obtained.

     B.     Indemnification

Partner agrees to indemnify, defend and hold harmless PayMaya, its subsidiaries and affiliates, and their directors, officers, employees and agents, from and against any loss, damage, liability, costs and expenses, including reasonable attorney’s fees (collectively, “Losses”), arising out of or based on (a) breach of, or failure to perform, any obligation of Partner contained in this Agreement, or (b) the gross negligence or willful misconduct of Partner.

PayMaya agrees to indemnify, defend and hold harmless Partner, its subsidiaries and affiliates, and their directors, officers, employees and agents, from and against any Losses arising out of or based on (a) breach of, or failure to perform, any obligation of PayMaya contained in this Agreement, or (b) the gross negligence or willful misconduct of PayMaya.

In no event shall PayMaya be liable, in the absence of gross negligence and willful misconduct, for any indirect, special, incidental or consequential damages under this Agreement, including, without limitation, loss of profits, revenue, data or use, even if PayMaya has been advised of the possibility of such damages. PayMaya’s liability for damages under this Agreement shall not exceed the amount of the fees paid by Padala to PayMaya during the last twelve (12) months from the occurrence of the event that caused the damage.

18. AUDIT

Partner acknowledges and accepts that at any time, with or without prior consent, PayMaya, the Bangko Sentral ng Pilipinas and/or any other examination body authorized by PayMaya may conduct on site audit of their operations. These may include, but not limited to mystery shopping, taking pictures and notes of the business processes of their respective businesses. Partner shall grant access to certified examiners, but not limited to, the following, (A) Partner’s financial information and (B) Partner’s business processes and operations including, but not limited to, daily PayMaya Negosyo operations.

Any findings by PayMaya, the Bangko Sentral ng Pilipinas and/or any other examination body authorized by PayMaya shall be reported in writing to the Partner to which Partner must acknowledge in writing to include immediate corrective measures in order to fulfill and address issues found during the audit exam.

19. RISK PROFILING

The Partner shall comply with the Due Diligence requirements of PayMaya in accordance with applicable rules and regulations. PayMaya reserves the right to disqualify the Partner's application should they fail to submit the necessary requirements and/or results of the Due Diligence is unsatisfactory. The Partner must undertake a risk profiling evaluation upon submission of their applications as required by BSP. Results of the exam will be kept and may be forwarded to BSP upon request.

1. If Partner happens to exceed maximum risk requirement, PayMaya reserves the right to disqualify the Partner’s application.
2. If Partner exceeds maximum optimal risk requirement, Partner must provide additional requirements based on Customer Due Diligence (CDD) or Enhanced Due Diligence (EDD) guidelines which will become necessary for the completion of their application.

Risk profiling is a continuous and periodic requirement so long as Partner remains an agent of PayMaya. The duration of the intervals will depend on the latest risk profile of the Partner. Failure to comply will require PayMaya to provide the appropriate sanctions to the Partner, such as, but not limited to, temporary suspension of access to any of PayMaya Negosyo Services or immediate termination of this Agreement.

20. FRAUD

Partner shall abide by all PayMaya-prescribed processes for the setting-up and subsequent servicing required for the PayMaya Negosyo business. Partner shall not allow in any way any deviation from the aforementioned PayMaya-prescribed processes.

Partner acknowledges and accepts that PayMaya, for the duration of this Agreement, may at any time conduct post verification, evaluation, security and quality assurance testing on all Partner-related declared systems and any PayMaya-authorized technical platform. The Partner shall not make any changes in the PayMaya-authorized technical platform, including but not limited to the systems design, information flow, contents or software applications, external equipment connectivity and set-up, parameters configuration. For the purpose of this provision, the Partner shall allow PayMaya access to its declared system and any PayMaya-authorized technical platform.

Partner shall ensure the security of its access, systems and processes, on its declared system and/or the PayMaya-authorized technical platform against all unauthorized access, connection or modification to PayMaya systems and services.

Fraud Detection and Investigation:
A. Partner undertakes to provide complete support and assistance to PayMaya in detecting, investigating and preventing any offence that may be committed, or has been committed under this Agreement, by any person against PayMaya, the Partner, the PayMaya Negosyo Centers and/or the Customers (herein “Other Parties”).
B. Should any act of fraud, mischief or any act detrimental to the parties herein and the customers, be performed by the Partner or any act that may have any indication of fraud against the Other Parties (“Suspected Activity”), the incident shall be the subject of an investigation.
C. Where PayMaya suspects involvement of the Partner and/or its representatives in the Suspected Activity:

1. PayMaya may investigate the matter by appointing an Investigating Officer and entrusting him with necessary powers;
2. The Investigating Officer may investigate the records of the Partner relating to transactions of the Customers of PayMaya and require any information or clarification from the Master Aggregator or its Representatives;
3. PayMaya shall have the right to require and/ or ask for help of any government or outside agency in investigating frauds;
4. PayMaya may suspend all or any of its activities at the Partner’s or PayMaya Negosyo Center’s premises, until the matter under investigation is resolved to the satisfaction of PayMaya. In order to avoid any doubt, the Parties agree that all payments due to the Partner shall be suspended until the matter under investigation is resolved.
5. The Partner, upon request by PayMaya or the Investigating Officer, shall provide all information, documents and other materials to PayMaya or to the Investigating Officer pertaining to any Suspected Activity relating to transactions of the Customers without undue delay, or by the next business day, whichever comes first;
6. Where the Investigating Officer proves that the Partner and/or its representatives are involved in any offense committed against PayMaya, PayMaya shall have the right to take all or any of the following actions against the Partner notwithstanding anything contained in this Agreement:

a. PayMaya reserves the specific right to offset, in the event of a need to refund any loss incurred by the Other Party as a result of the Suspected Activity;
b. To claim and recover the entire amount of loss, damages, legal costs and expenses incurred by PayMaya because of such offence or involvement of the Partner and/or its representatives in such offence; and
c. To terminate this Agreement with the Partner without forthwith any notice.
 

21. DATA PRIVACY AND CONSUMER PROTECTION

Consumer Protection
The Partner shall, at all times, observe the following Consumer Protection Standards at their store/location:
A. Frontliner/s can explain the use of products and/or services, its benefits and disadvantages;
B. Standard processing fee posters are clearly visible to customers and can be properly explained by frontliner/s;
C. The rates/charges are in conformity with PayMaya guidelines;
D. Standard Fraud and Scam Awareness posters are clearly visible to customers and can be properly explained by frontliner/s;
E. Front liner/s are knowledgeable that customers who are Senior Citizens and/or Persons with Disabilities (PWDs) should be prioritized;

Partner warrants and represents that it shall not collect, retain, process or otherwise handle any personal data concerning Consumers without PayMaya’s and/or the Consumer’s prior written consent other than by means of the transaction slip, and/or any other PayMaya approved customer record retention tool/software, provided this is done in strict compliance with the processing of service, applicable laws and regulations and the terms of this Agreement. Partner acknowledges that all information regarding Consumers that it may collect (including, without limitation, information provided by Consumers on “PayMaya Negosyo Transaction Slips”) is the exclusive property of PayMaya. Partner may not use such information itself, nor may it transfer such information to any third party, for any purpose whatsoever without the prior written consent of PayMaya (except only for (a) the transfer of Consumer information to PayMaya for the purpose of executing any of the PayMaya Negosyo Services and (b) such disclosures to law enforcement authorities as may be required by law or by order of a competent and duly constituted court of law).

Partner shall cooperate fully with PayMaya in implementing any procedures mandated by law in order to protect consumer privacy and/or consumer data, or any such commercially reasonable procedures implemented by PayMaya. Partner’s failure to cooperate shall be a cause for termination of this agreement as set forth under Section 18 of this document.

PayMaya uses the technical capabilities of its own in-house software and systems to achieve data separation between personal data from one and any other customer. This shall ensure segregation of data between parties.

Data Privacy
Whenever applicable, in performing its obligations under this Agreement, Partner shall, at all times, comply with the provisions of Republic Act No. 10173 or “the Data Privacy Act of 2012,” its implementing rules and regulations, and all other laws and government issuances which are now or will be promulgated relating to data privacy and the protection of personal information. Partner, its officers, employees, agents, and representatives, shall, among others:
A. Process personal data only upon the documented instructions of PayMaya, including transfers of personal data to another country or an international organization, unless such transfer is authorized by law;
B. Implement measures and systems such as clear written guidelines and training modules for its employees, agents, and representatives, that will enable data subjects or subscribers to exercise any and all of their rights under the Data Privacy Act of 2012;
C. Implement such measures and systems that will allow data subjects or subscribers to exercise their right to object or withhold consent to further processing as provided under the Data Privacy Act of 2012;
D. Implement such measures and systems that will allow data subjects or subscribers to exercise their right to access under the Data Privacy Act of 2012;
E. Maintain proper records, and provide PayMaya access to such records, as will allow said PayMaya to comply with the exercise by data subjects or subscribers of their right to access under the Data Privacy Act of 2012;
F. Ensure that data subjects or subscribers will be able to exercise their right to rectification, modification, or blocking of data under the Data Privacy Act of 2012;
G. Determine the appropriate level of security measures, subject to, and in conjunction with, that of PayMaya, taking into account the nature of the personal information to be protected, the risks represented by the processing, the size of the organization and complexity of its operations, current data privacy best practices, and cost of security implementation;
H. Implement security measures for data protection (i.e., generally, the physical, organization, and technical security measures prescribed by the Data Privacy Act and its implementing rules and regulations), including policies for evaluation, monitoring, and review of operations and security risks. These measures may include clear written guidelines, training modules for its employees, agents, and representatives, and audit measures in relation to the (1) collection, processing, maintenance, and deletion/disposal of personal data and records; and (2) the sharing of these information, especially on the specific persons to whom the information may be given access. Such measures shall aim to maintain the availability, integrity, and confidentiality of personal data, and prevent negligent, unlawful, or fraudulent processing, access, and other interference, use, disclosure, alteration, loss, and destruction of personal data;
I. Implement reasonable and appropriate organizational, physical, and technical measures intended for the protection of personal information against any accidental or unlawful destruction, alteration, and disclosure, as well as against any other unlawful processing, or for such other purposes as may be required under the Data Privacy Act of 2012 or any other applicable law or regulation;
J. Implement reasonable and appropriate measures to protect personal information against natural dangers such as accidental loss or destruction, and human dangers such as unlawful access, fraudulent misuse, unlawful destruction, alteration, and contamination;
K. Ensure that its employees, agents, and representatives who are involved in the processing of personal information operate and hold personal information under strict confidentiality. This obligation shall continue even after their transfer to another position or upon termination of their employment or contractual relations;
L. Not to engage another processor without prior instruction from PayMaya: provided, that any such arrangement shall ensure that the same obligations for data protection under this document are implemented, taking into account the nature of the processing;
M. In case of data breach, promptly notify PayMaya within twenty-four (24) hours or earlier from the time of discovery, to enable said PayMaya to notify the National Privacy Commission and the affected data subject or subscriber within the period prescribed under the Data Privacy Act of 2012, when sensitive personal information that may, under the circumstances, be used to enable identity fraud are reasonably believed to have been acquired by an unauthorized person, and PayMaya, Partner, or the National Privacy Commission believes that such unauthorized acquisition is likely to give rise to a real risk of serious harm to any affected data subject or subscriber;
N. Promptly inform PayMaya if, in its opinion, any instructions of the PLDT Business Unit violates, or may be construed to violate, any provision of the Data Privacy Act of 2012 or any other issuance of the National Privacy Commission;
O. Assist PayMaya in ensuring compliance with the Data Privacy Act of 2012, its implementing rules and regulations, other relevant laws, and other issuances of the National Privacy Commission, taking into account the nature of processing and the information available to Partner;
P. At the choice of PayMaya, delete, destroy, or return all personal data to the former after the end of the provision of services relating to the processing: Provided, that this includes deleting or destroying existing copies unless storage is authorized by the Data Privacy Act of 2012 or another law;
Q. Make available to PayMaya all information necessary to demonstrate compliance with the obligations laid down in the Data Privacy Act of 2012, and allow for and contribute to audits, including inspections, conducted by PayMaya or another auditor mandated by the latter; and
R. Include all the foregoing in the privacy and security policy of Partner.

PayMaya shall have the right to test and monitor compliance by Partner with the aforementioned data privacy laws, administrative orders, and government issuances, and the provisions of this paragraph. Partner agrees to immediately correct or introduce improvements to its system should the results show failure by Partner to comply with the requirements of this paragraph, without prejudice to other remedies available to PayMaya under this Agreement.

The Partner agrees to the Data Privacy Notice set by PayMaya Philippines, Inc. as stipulated in Annex D.

22. COMPLIANCE

At all times during the term of this Agreement, Partner shall procure and maintain such licenses and authorizations from the relevant authorities as are required by law in the jurisdiction in which it is providing the Services; comply with the Philippine laws on anti-money laundering; comply with consumer protection act and BSP regulation; and comply with Philippine laws in relation to data protection.

Partner shall at all times comply with the applicable provisions of RA 9160, otherwise known as the Anti-Money Laundering Act (AMLA), as amended by RA 9194 and RA 10167 and its implementing guidelines & RIRRs (Revised Implementing Rules & Regulations). Compliance with RA 10168 or The Terrorism Financing Prevention and Suppression Act of 2012 and RA 9372 or the Human Security Act and their respective implementing guidelines is also enjoined and strictly required. Any found non-compliance found during audit and review by PayMaya, BSP and/or any other examination body authorized by PayMaya, shall be grounds for penalties and/or sanctions on the client as deemed fit by PayMaya.

23. REPORTING OF SUSPICIOUS TRANSACTIONS

For any suspicious transactions, Partner is required to immediately contact the assigned PayMaya account officer within twenty four (24) hours of the incident and must provide an accomplished suspicious transaction report (see Annex E) and other attachments available.

24. UPDATE IN PARTNER INFORMATION

If there are any updates on the latest submitted partner information, it is the Partner’s responsibility and obligation to inform PayMaya of this to their assigned account officer within fifteen (15) working days. The Partner is also obliged to submit the required documents for account update to their assigned account officer within forty five (45) calendar days . Failure to comply will subject the Partner to the appropriate penalties listed in Annex A.

25. USE OF PARTNER NAME

Partner hereby expressly authorizes PayMaya to include the Partner’s name in any directory or promotional materials produced in connection with the Services, without need of further notice or approval.

26. REMOVAL AND CESSATION OF BUSINESS

Partner shall inform PayMaya of any removal of outlets or offices and its cessation of business in writing at least thirty (30) days prior to effective date of the said removal of outlets or offices or of cessation of business.

27. DISCLAIMER

PayMaya shall not be under any liability to the Partner and/or Account Holder and/or any third person where the matter/issue concerns the accuracy, correctness or validity of any point of authorization communicated by PayMaya.

28. USE OF SMART PADALA BY PAYMAYA AND PAYMAYA NEGOSYO SYMBOL

Partner shall display the Smart Padala by PayMaya or PayMaya Negosyo name and symbol as well as promotional materials to inform the public that PayMaya Negosyo, and its related products and services are accepted at the Partner’s place of business. Upon termination of this Agreement, Partner shall return forthwith to PayMaya all promotional materials and all posters, decals or signs either posted or displayed within the Partner’s place of business.

29. CONFIDENTIALITY

All business and technical information and data, and related documentation, in whatever form provided, recorded or unrecorded (hereinafter collectively referred to as “Confidential Information”), which the Parties have furnished or may furnish each other in anticipation of, or in furtherance of, this Agreement shall:

A. Be used solely for the purpose for which it was furnished;
B. Be treated in strictest confidence and protected;
C. Not be reproduced, except as necessary for its authorized use; and
D. If in tangible form, shall be returned together with all copies thereof, including the promotional materials, when demanded be either Party or when no longer needed.

The obligations of confidentiality and restricted use are not applicable to those portions of the Confidential Information that were previously known, or that fall into the public knowledge without the fault of either Party, or which the Parties have agreed in writing need not be kept confidential.

Either Party shall indemnify and hold the other Party free and harmless from all costs, claims, damages, actions, suits or other proceedings and from any liabilities arising from disclosure or unauthorized use of the Confidential Information.

The obligations of confidentiality and restricted use shall survive the termination of this Agreement except when disclosure of the Confidential Information by any of the Parties is made in order to comply with law, government regulations or court order.

30. INTELLECTUAL PROPERTY RIGHTS

All trade names, trademarks, service marks, copyrights and other property rights of PayMaya Philippines, Inc. will remain the property exclusively of PayMaya Philippines, Inc. and Partner shall not assert any claim hereto during the Term of this Agreement, or thereafter. Partner shall not do any act or thing inconsistent with PayMaya Philippines, Inc.’s ownership of such assets and right and shall take reasonable care to protect them from infringement or damage. Partner may use such trade names, trademarks, and other property only during the term of this Agreement on the terms set forth herein.

31. EFFECTIVITY / TERMINATION

A. This Agreement shall be effective upon certification by PayMaya through its assigned representative that the PayMaya Negosyo Agent has passed all the on-boarding requirements and may already use the services applied for. This Agreement will also remain effective for a period of one (1) year from such date (“the Initial Term”), unless earlier terminated by either Party as provided for under this Agreement, or by mutual consent of the Parties in writing, or if so required by BSP. After the Initial Term, this Agreement shall automatically renew for successive one (1) year renewal terms, unless one Party gives notice of non-renewal to the other Party at least sixty (60) days prior to the upcoming renewal date.
B. In the event of termination, the Merchant shall present all completed transactions to PayMaya’s representative at the time of termination. However, payment for all such items received will only be made to the Merchant after payment thereof has been received by PayMaya. Where any refund claimed by PayMaya exceeds the amount due the Merchant, the difference thereof shall be a debt due from the Merchant to PayMaya and be forthwith recoverable by action.
C. In the event that the Merchant has not accepted payments via PayMaya, PayMaya shall have the right to disable/close/deactivate its merchant account ID.
D. In the event of termination, the Merchant shall return to PayMaya all materials pertaining to the PayMaya program, including but not limited to PayMaya mobile POS terminal (which shall be in good working order and condition), Transaction Draft, Proprietary applications and information residing in mobile phones, computers, POS and all other related devices and paraphernalia, Charge Slips and Merchant Payment File and promotional materials and shall remove all decals and signs from the premises immediately.
E. Either Party may terminate this Agreement in case of a breach by the other Party (“the Defaulting Party”) of any of the provisions of this Agreement, provided that such Defaulting Party has failed to remedy such breach within sixty (60) days from written notice thereof, in which case, the termination will become effective upon the lapse of such sixty (60) day period.
F. Either Party may terminate this Agreement effective immediately upon written notice, in the event that the other Party enters into a merger; consolidation with another entity and such Party is not the surviving entity, becomes insolvent or bankrupt, discontinues business or adopts a resolution providing for dissolution or liquidation.
G. Either Party may terminate this Agreement without cause by giving the other Party written notice of at least sixty (60) days prior to intended date of termination.

32. GROUNDS FOR SUSPENSION/TERMINATION

Partner shall be responsible in complying with all clauses stated in this Agreement.

PayMaya will have the right to immediately suspend and/or terminate accounts that are non-compliant, non-performing and/or inactive. Non-compliance includes instances such as, but not limited to, not attending required trainings, not following rates, and service related rules. These, as well as, non-performance do not require investigation prior to suspension/termination. Inactive accounts with no transaction within 6 months from date of account creation and accounts with no usage for six (6) months may also be suspended/terminated without prior notice. In the event of fraud and/or disputes, investigation may proceed. Should PayMaya suspect, find, or learn that Partner has violated any of its undertakings and obligations hereunder or is engaged in illegal activities, wittingly or unwittingly, PayMaya shall have the sole discretion to immediately suspend the Partner’s account and to cut-off the Partner’s access from the system and refuse to process any or all of its transactions pending investigation. Such investigation shall last no longer than fifteen (15) working days but may extend depending on the gravity of the issue. Any violation found during the course of this agreement shall be dealt with under applicable PayMaya policies. Outright termination of agreement may be based on the following grounds:
A. Violation of Section 2 on the observance of partnership structure;
B. Violation of Section 5 on PayMaya Negosyo Services;
C. Violation of Section 20 for Fraud;
D. Violation of Section 21 for Data Privacy and Consumer Protection;
E. Violation of Section 22 for non-compliance with AMLA & applicable laws;
F. Violation of RA 10168 and RA 9372, threatened or consummated;
G. Violation of Section 29 on Confidentiality clause; and
H. Should the Partner fail to observe or perform any of its obligations under this Agreement (and such failure is not remedied within thirty (30) calendar days after written notification thereof is given by the other party), other than the above enumerations, PayMaya may forthwith terminate this Agreement by giving notice to Partner.

Upon termination of this Agreement for any reasons enumerated, Partner must perform the following:
A. Render a full accounting to PayMaya for its operation of the PayMaya Negosyo Services and will remain liable for all amounts, fees and other charges relating to PayMaya Negosyo Services originating through Partner (including Smart Money and PayMaya Transfer principal and fees) which PayMaya shall have furnished to Partner.
B. Remain liable and shall remit to PayMaya any principal and/or fees owed to PayMaya relating to PayMaya Negosyo Service transactions, including any amounts remaining unpaid as a result of a PayMaya Negosyo Service.
C. Immediately remove or permit PayMaya to remove all signs, display or other materials containing PayMaya name or logo and stop holding itself out as providing any PayMaya Negosyo Services.
D. Refer all calls and consumers intended for the PayMaya Negosyo Services to telephone numbers and locations specified by PayMaya and will not divert any such calls or customers to a PayMaya competitor.

33. PENALTIES

When a Partner has its own RA license, the Partner is responsible for all penalties indicated under Sec 14 Penal Provisions of RA 9160. Penalty matrix in Annex A may apply in the event that the Agent will use PayMaya’s license to operate the Services.

34. EFFECTS OF TERMINATION

Immediately upon termination or expiration of this Agreement: (i) Partner shall return to PayMaya all Smart Padala by PayMaya-related and PayMaya Negosyo-related promotional/marketing materials, unused supplies, equipment provided to Partner pursuant to this Agreement; (ii) Partner shall return to PayMaya or shall destroy in accordance with PayMaya’s instruction, all copies of confidential information supplied by PayMaya to Partner or to which Partner may have gained access to.

35. NOTICES

All notices or communication under this Agreement shall be in writing and shall be delivered personally or transmitted by
registered mail, postage prepaid, facsimile or e-mail as indicated on this form. All notices shall be deemed duly given on the date of receipt, if personally delivered, the date fifteen (15) days after posting, if mailed; or receipt of transmission, if by facsimile. Either party may change its address for purposes hereof giving notice to the other party. In exceptional cases, PayMaya may send notices, communications, correspondences via email sent to email address provided by the Partner.

36. AMENDMENTS

PayMaya, upon prior written notice may at any time and for whatsoever reason it may deem proper amend, revise or modify this Agreement. Any such amendments shall bind the Partner unless the Partner objects thereto by manifesting his intention to terminate this Agreement in writing within thirty (30) days from notice of amendments. Failure to notify PayMaya of Partner’s intention to terminate this Agreement shall be construed as acceptance by the Partner of the amendments to this Agreement.

37. SEPARABILITY CLAUSE

If any provision of this Agreement, or the application thereof to any Party hereto, is held illegal, null, void, unenforceable or otherwise invalid by any law, decree ordinance or judicial or administrative decision, such holding shall not affect the other provisions of this Agreement which can be given effect without the invalid provision and to this end the Parties agree that the provisions of this Agreement are and shall be severable, provided that if such invalidation affects any other provision deemed essential by any Party to the satisfactory performance of this Agreement then, upon written notice being given by such Party to the other Party, the Parties shall promptly negotiate in good faith to the end that this Agreement may be amended in such manner as may be deemed necessary to make it fair and equitable to both Parties.

38. FORCE MAJEURE

To the extent applicable to the implementation of this Agreement, the Parties will comply with their respective internal business rules or Corporate Governance policies. In this connection, the Parties shall (a) advise or inform each other about any violation, whether actual or potential, by any person of their respective and/or each other’s policies in relation to this Agreement; (b) address or resolve such violation in accordance with their own internal business rules or Corporate Governance policies; and, (c) inform the other Party of the action taken thereon. In the event that this Agreement is later found to be in violation of the internal business rules or Corporate Governance policies of either Party, the Parties shall negotiate in good faith to amend and revise this Agreement to make it compliant with the internal business rules or Corporate Governance policies found to have been violated.

The Parties finally agree that any dispute, breach or violation of this provision shall be dealt with, remedied and/or resolved in accordance with the appropriate provisions of this Agreement on dispute settlement.

39. RELATIONSHIP

Performance by the Parties under this Agreement shall be as independent contractors. Nothing in this Agreement shall constitute or be deemed to constitute a partnership between the Parties hereto, and the Partner shall not hold itself out or allow itself to be held out as a partner of PayMaya.

40. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of the Philippines. In the event of suit arising out of or in accordance with this Agreement, it shall be brought exclusively to the proper courts of Makati City.

41. AUTHORITY

Each of the Parties represents and warrants to the other that its signatory/ies herein has/have all the necessary power and corporate authority to execute deliver and perform this Agreement and other related documents, and that such execution, delivery and performance will not and shall not contravene any provision of its constitutional documents, any Agreement or instrument to which it is a Party, any law, rule or regulation of any government authority.

42. BINDING EFFECT

This Agreement shall be binding upon and inure to the benefit of the Parties, their successors-in- interest and permitted assigns. Partner may not however assign or transfer its rights hereunder, without the prior written consent of PayMaya.

43. ENTIRE AGREEMENT

This Agreement and such other related documents as may be executed by the Parties contemporaneously herewith or subsequently pursuant hereto, constitute the entire Agreement of the Parties with respect to the subject matter hereof and supersedes any prior expressions of intent by or Agreement between the Parties, oral or written, with respect to the same subject matter.

44. PAYMAYA PHILIPPINES, INC. POLICIES

This Agreement shall be subject to the existing policies and procedures of PayMaya governing PayMaya Negosyo which are made integral parts hereof by reference, and as may be amended and supplemented from time to time, in so far as not inconsistent with the terms of this Agreement.

Partner shall abide by all PayMaya-prescribed processes for the setting-up and subsequent servicing required for the PayMaya Negosyo business. Partner shall not allow in any way any deviation from the aforementioned PayMaya-prescribed processes.

Partner acknowledges and accepts that PayMaya, for the duration of this Agreement, may at any time conduct post verification, evaluation, security and quality assurance testing on all Partner-related declared system and any PayMaya-authorized technical platform. Partner shall not make any changes in the PayMaya-authorized technical platform, including but not limited to the systems design, information flow, contents or software applications, external equipment connectivity and set-up, parameters configuration. For the purpose of this provision, Partner shall allow PayMaya access to its declared system and any PayMaya-authorized technical platform.

Partner shall ensure the security of its access, systems and processes, on its declared system and/or the PayMaya-authorized technical platform against all unauthorized access, connection or modification to PayMaya’s systems and Services.

PayMaya shall have the right to revise or amend this Agreement without the consent of the Partner. Any revisions of this Agreement will supersede any existing contract. A form of notice, including, but not limited to, an announcement and/or an advisory, will be available in any of the PayMaya Negosyo Channels (i.e. Website, Social Media, SMS, etc). shall suffice to properly inform the Partner and enforce such change in the terms and conditions.

PayMaya shall conduct annual monitoring and review of the performance of the Partner. If it is discovered that they fail to meet the minimum compliance or performance requirements indicated in this document, PayMaya reserves the right to issue penalties or terminate the relationship depending on the severity of the result of the review.

45. DISCLOSURE OF CHARGES

The Partner shall fully disclose the rates and charges to customers by means of displaying the approved and official rate table provider by PayMaya. Violation of suggested rates by PayMaya is subject to termination of account.

46. CORPORATE GOVERNANCE

Definitions
“Anti-Corruption Laws” means (i) the Philippines Revised Penal Code, the Anti-Graft and Corrupt Practices Act, the
Plunder Law, the Prohibition of Government Employees to Receive Gifts (Presidential Degree No. 46), and the Code of
Conduct and Ethical Standards for Public Officials and Employees; (ii) the U.S. Foreign Corrupt Practices Act of 1977, as
amended; (iii) the U.K. Bribery Act 2010; (iv) applicable anti-bribery legislation enacted by member states of the
European Union; (v) signatories implementing the OECD Convention Combating Bribery of Foreign Officials; and (vi)
other similar laws and regulations applicable to the Parties from time to time.
“Anti-Corruption Prohibited Activity” shall mean (i) using funds for unlawful contributions, gifts, entertainment or other unlawful expenses relating to political activity; (ii) directly or indirectly making, offering, or authorizing, any unlawful payment to any government official; or (iii) directly or indirectly making, offering, or authorizing any unlawful bribe, rebate, payoff, influence payment, kickback or other similar unlawful payment, whether directly or indirectly to any person for the purpose of gaining an improper business advantage or encouraging the recipient to violate the policies of his or her employer or to breach an obligation of good faith or loyalty, or that would otherwise violate any of the Anti-Corruption Laws.
“Sanctioned Party” means at any time any person or entity: (a) listed on any Sanctions-related list of designated or blocked persons; (b) resident in or organized under the laws of a country or territory that is the subject of comprehensive restrictive Sanctions (including Cuba, Iran, North Korea, Syria, and the Crimea region); or (c) majority-owned or controlled by any of the foregoing.
“Sanctions” means economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time by (i) the United States, (ii) the United Nations Security Council, (iii) the European Union and its member states, (iv) the United Kingdom, and (v) the respective governmental institutions of any of the foregoing including, without limitation, Her Majesty’s Treasury, the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of Commerce, and the U.S. Department of State.

Compliance Representations and Warranties

(a) The Partner represents and warrants in respect of itself only as of the date hereof that:
(i) It has not undertaken any Anti-Corruption Prohibited Activity, including without limitation in negotiating for and obtaining any assets, licenses, governmental permissions, or any other legal rights or privileges;
(ii) It has complied with all Sanctions, and similar laws, regulations and orders to which it is subject; and
(iii) Neither it nor any of its subsidiaries or affiliates, nor any of its or their respective directors, officers, employees, agents, or representatives, is a Sanctioned Person.

Compliance Covenants
(a) The Partner represents and covenants that it shall not, in furtherance of this Agreement and for so long as this Agreement remains active:
(i) undertake any Anti-Corruption Prohibited Activity;
(ii) directly or indirectly transact business with or for the benefit of any Sanctioned Person in violation of Sanctions; or
(iii) otherwise violate Sanctions or take any actions that will result in any of the Parties becoming a Sanctioned Party.
(b) The Partner shall adopt, revise, and maintain (as the case may be) policies and procedures sufficient to comply with its obligations under this Agreement. At a minimum, the Partner shall review and comply with PayMaya’s Global Anti-Corruption Compliance Policy.
(c) Upon three (3) business days’ notice, the Partner shall permit PayMaya (and its professional advisors, as applicable) access to its books, records, and accounts for the purposes of assessing and auditing compliance with this Agreement and applicable laws.
(d) The Partner shall promptly inform PayMaya of any changes to the representations contained herein and shall certify these representations on an annual basis.

 

ANNEX A
OFFENSE/PENALTY/SANCTION MATRIX

Reactivation of Account. In the event that the account is deactivated, the MIMO needs to re-apply for an account by submitting a formal letter to PayMaya. Previous account will be reactivated and will be tagged as "with previous violation record." Reactivation of account will be subject for review and approval of PayMaya Management and Compliance.

The following are the list of violations with its definition and corresponding action that PayMaya may take against the Partner. However, this list does not limit PayMaya from applying sanctions for other acts the Agent or its representatives for violations or acts against PayMaya, other affiliated parties, other PayMaya Negosyo Centers, or its Customers. Notwithstanding this list, PayMaya shall have a right to impose other sanctions and may terminate this Agreement depending on the gravity of the Agent’s offense.

OFFENSE MATRIX

FREQUENCY 1ST OFFENSE 2ND OFFENSE 3RD OFFENSE 4TH OFFENSE 5TH OFFENSE 6TH OFFENSE
MINOR Written Notice (Warning) 
Written Notice and a Penalty
amounting
Php 5,000
Written Notice and a Penalty
amounting
Php 10,000
Written Notice, Temporary Deactivation, and a
Penalty amounting
Php 15,000
MAJOR
Written Notice, Temporary Deactivation, Penalty amounting Php 15,000 + the Transaction Amount tied to the offense (if applicable). + Penalties imposed by regulators (if applicable and if the violation is proven, upon investigation, to be intentionally committed by the Partner)

 Counting of offenses is done per instance per category (Minor/Major) 

 
MINOR VIOLATION DEFINITION
Failure to Inform Critical Changes in Submitted Information Agent may intentionally or unintentionally withholds information on changes in business/owner information e.g., business name, address, and branches.
Liquidity Management Agent fails to service clients in sending money and cash out of remittances due to lack of funds (e.g. no cash out due to low cash on-hand).
Breach of Agreement Any breach by the Agent of any of its obligations under the Agreement not covered in the list of violations with a total cost of no larger than(<)Php 100,000.
Failure to Share Proof of Payment The Agent fails to provide the Customer with the standard method of providing proof of payment.


MAJOR VIOLATION DEFINITION
Suspicious Transaction Report
Failure to report fraudulent and/or suspicious transactions following the prescribed template within twenty-four (24) hours. A digital copy of the Suspicious Transaction Report (STR) and Transaction Slip shall be sent to PayMaya upon request no later than ten (10) business days by email to PayMaya Compliance <amlcompliance@paymaya.com>.
Failure to Inform Customer of Cancelled Transactions/Reversals The Agent fails to inform the Customer of transactions/services that failed to push through, hence, receiving a reversal of the transaction. They must provide the customer the option to refund their money or try to pay the bill again.
Failure to Repay Bill for Agent Errors The Agents fails to fulfill his obligation to repay the bill that was wrongfully paid due to errors committed by the Agent. This includes but is not limited to the employees, agents, and representatives of the Agent.
Non-Compliance to KYC
Agent is not following KYC standard procedures as prescribed by PayMaya.
Non-Compliance
The Agent infringes on the compliance standards set by PayMaya including but not limited to
KYC, AMLA, Consumer Protection.
Failure to Attend Trainings
The Agent fails to attend required trainings hosted by any authorized PayMaya personnel.
They must pass the exam to be considered as an attendee.
Failure to Follow Required Rates and Charges
The Agent charges the Customer fees that are not issued by PayMaya or is valued above the required rate for PayMaya Negosyo Services. A written approval must be secured before they can charge higher than the advised rate.
Breach of Exclusivity
The Agent performs services which are considered as direct competition to the services availed under PayMaya or they promote products/services considered as direct competition to the services they availed under PayMaya.
Fraud and Anti Money Laundering
The Agent fails to comply (including its officers, principals, and employees) with all laws and regulations applicable to the business, as the same may be amended from time to time, including but not limited to: (a) licensing laws, and regulations; and (b) anti-money laundering laws, terrorist financing laws, cash reporting requirements, consumer protections laws, PayMaya’s written policies and procedures (as amended from time to time) as they relate to compliance with the detection and prevention of money laundering and cash reporting requirements; (c) all applicable national and local privacy laws and regulations; and (d) laws in relation to data privacy protection.
Breach of Confidentiality
Communication, in any form, of any ongoing money laundering investigation to anyone apart from people managing the investigation.
Consumer Protection Agent is not following Consumer Protection Act which includes Disclosure and Transparency of rates, security of customer information, remind customers to safeguard and do not disclose reference number for claiming, safeguard logbook and copies of transaction slips, understanding of products and services -key features, benefits, and risks, terms and conditions, providing customer hotline for escalation, display of advertising and promotional materials that disclose facts and protection of client information, and prioritizing customers who are PWDs and Senior Citizens.
Breach of Agreement
Any breach by the Agent of any of its obligations under the Agreement not covered in the list of violations with a total cost that is equal or larger than (>=) Php 100,000.


DATA PRIVACY VIOLATION(S)   PENALTY
Breach of Data Privacy Agent performs any kind of data privacy violation listed under the law. This includes but is not limited to the following: unauthorized processing, accessing, improper disposal, concealment of security breaches on, unauthorized disclosure of personal or sensitive information that can only be accessed by the Agent through its partnership with PayMaya.
SEC. 25. Unauthorized Processing of Personal Information and Sensitive Personal Information

Personal Information:  Imprisonment ranging from one (1) year to three (3) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than Two million pesos (Php 2,000,000.00) 

Personal sensitive information:  Imprisonment ranging from three (3) years to six (6) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than Four million pesos (Php 4,000,000.00)

SEC. 26. Accessing Personal Information and Sensitive Personal Information Due to Negligence.

Personal Information: Imprisonment ranging from one (1) year to three (3) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than Two million pesos (Php 2,000,000.00)

Sensitive personal information: Imprisonment ranging from three (3) years to six (6) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than Four million pesos (Php 4,000,000.00)

SEC. 27. Improper Disposal of Personal Information and Sensitive Personal Information

Personal information: Imprisonment ranging from six (6) months to two (2) years and a fine of not less than One hundred thousand pesos (Php 100,000.00) but not more than Five hundred thousand pesos (Php 500,000.00)

Sensitive personal information: Imprisonment ranging from one (1) year to three (3) years and a fine of not less than One hundred thousand pesos (Php 100,000.00) but not more than One million pesos (Php 1,000,000.00)

SEC.28. Processing of Personal Information and Sensitive Personal Information for Unauthorized Purposes

Personal information:  Imprisonment ranging from one (1) year and six (6) months to five (5) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than One million pesos (Php 1,000,000.00)

Sensitive personal information: Imprisonment ranging from two (2) years to seven (7) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than Two million pesos (Php 2,000,000.00)

SEC. 29. Unauthorized Access or Intentional Breach
Imprisonment ranging from one (1) year to three (3) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than Two million pesos (Php 2,000,000.00)
SEC. 30. Concealment of Security Breaches Involving Sensitive Personal Information Imprisonment of one (1) year and six (6) months to five (5) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than One million pesos (Php 1,000,000.00)
SEC. 31. Malicious Disclosure Sharing information of an individual or entity with an intent to harm them
Imprisonment ranging from one (1) year and six (6) months to five (5) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than One million pesos (Php 1,000,000.00)
SEC. 32. Unauthorized Disclosure Sharing information without the explicit approval of PayMaya

Imprisonment ranging from one (1) year to three (3) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than One million pesos (Php 1,000,000.00)

Imprisonment ranging from three (3) years to five (5) years and a fine of not less than Five hundred thousand pesos (Php 500,000.00) but not more than Two million pesos (Php 2,000,000.00)

SEC. 33. Combination or Series of Acts Imprisonment ranging from three (3) years to six (6) years and a fine of not less than One million pesos (Php 1,000,000.00) but not more than Five million pesos (Php 5,000,000.00)

Prior to the imposition of charges, the Agent must respond to the letter of PayMaya within seven (7) calendar days that contains an explanation and details of the potential violation. Investigation and due process shall take place prior to any penalty. Penalties will be automatically deducted from the Agent’s PayMaya Negosyo Account. In the event that the balance of the account is insufficient to cover the penalty(ies), the Agent must pay the fees in cash or cheque and deposited to PayMaya’s nominated account. If the Agent fails to pay the outstanding balance within thirty (30) calendar days, PayMaya reserves the right to temporarily deactivate the account or terminate this agreement.

 

 

ANNEX B
CASH-IN AND CASH PICK-UP SERVICES

DOMESTIC REMITTANCE CASH-IN AND CASH PICK-UP SERVICES
 
The Domestic Remittance Cash-In and Cash Pick-up services refers to the domestic money transfer services of PayMaya Negosyo Center.
 
RATES, COMMISSION, AND SERVICE FEES
 
SERVICES
RATES
COMMISSION
SENDING AND RECEIVING 3.0% 1.15%
TOP UP (Add Money to PayMaya Account) 1.5% 1.15%
Cash Out (Encashment from PayMaya Account) 1.5% 1.15%

 

Rates, Commission and Service Fees are subject to change without prior notice.
Advisories and/or announcements may be given through different PayMaya Negosyo Channels including, but not limited to, PayMaya Negosyo Website and Social Media.

 

INTERNATIONAL REMITTANCE CASH PICK-UP SERVICES

The International Remittance Cash Pick-Up service allows the Partner to perform cash out of remittance from PayMaya’s International Remittance partners.

RATES, COMMISSION, AND SERVICE FEES

SERVICES
RATES
COMMISSION
Cash-Out/ Cash Pick-up Partner-dependent Partner-dependent

 

Rates, Commission and Service Fees are subject to change without prior notice.
Advisories and/or announcements may be given through different PayMaya Negosyo Channels including, but not limited to, PayMaya Negosyo Website and Social Media.

 

ANNEX C
BILLS PAYMENT, DIGITAL GOODS RESELLING, AND PAYMAYA CARD RESELLING

BILLS PAYMENT
 
The Bills Payment service refers to the fulfilment of payments for PayMaya’s bills pay partners.
 
RATES, COMMISSION, AND SERVICE FEES
 
SERVICES
COMMISSION
SERVICE FEE(S)


Bills Pay Fulfilment

Php 10.00 per transaction* Dependent on Bill Service

 

*Commission shall be paid out by PayMaya to the Partner and shall not be charged to the customer.

Rates, Commission and Service Fees are subject to change without prior notice.
Advisories and/or announcements may be given through different PayMaya Negosyo Channels including, but not limited to, PayMaya Negosyo Website and Social Media.

 

PAYMAYA CARD RESELLING

PayMaya card reselling service authorizes the Partner to resell PayMaya cards to its channel/s or channel/s specified by PayMaya.

RATES, COMMISSION, AND SERVICE FEES

PRODUCT
RATES
COMMISSION
PayMaya Contactless Card Php 200.00 Php 20.00

 

Rates, Commission and Service Fees are subject to change without prior notice.
Advisories and/or announcements may be given through different PayMaya Negosyo Channels including, but not limited to, PayMaya Negosyo Website and Social Media.

DIGITAL GOODS RESELLING

Digital goods refer to the products that may be availed through the PayMaya App Shop.

RATES, COMMISSION, AND SERVICE FEES

PRODUCT
RATES
COMMISSION
Smart Airtime Load (Commission to be collected outside of the system) Dependent on load denomination in PayMaya App Shop 5%
Globe Airtime Load (Commission to be collected outside of the system) 5%
Cignal Load (Commission to be collected outside of the system) All load denominations Php10.00
Gaming Pins (Commission to be collected outside of the system)

Load denomination below 100 Php5.00
Load denomination 100 and above Php10.00

 

Rates, Commission and Service Fees are subject to change without prior notice.
Advisories and/or announcements may be given through different PayMaya Negosyo Channels including, but not limited to, PayMaya Negosyo Website and Social Media.

Annex D
DATA PRIVACY NOTICE
 
We respect your fundamental right to privacy and we commit to take great care in safeguarding your personal data. Throughout your use of our services, we collect and maintain some basic information about you. In accordance with applicable privacy laws, we share with you the general principles that govern how we collect, use, and share your personal data, as well as our privacy practices.
 

Why we collect your personal data

When we process your personal data, we do so under the following legal bases and for the purposes set out below:

A. We process your personal data to perform our obligations under contract with you.

· To create and nurture a relationship with you, so that we can continuously provide you with our services. For example, when you apply for any of our services, we collect personal data about you, that will allow us to validate your identity and credit history for purposes of billing and collection of fees for the products and services that you avail from us.

B. We process your personal data based on our legitimate interest to function effectively as a business, but we only do so when your interests and fundamental rights or freedoms do not override our legitimate interest.

· To continuously improve our business and operations. For example, we analyze your usage of our network and facilities to help us manage your account, provide customer care activities, investigate and resolve your service-related requests and concerns, monitor the quality and security of the network, train our staff, and plan for future growth. We may also process your personal contact details and publish them in an internal directory listing, in order to effectively communicate with you and provide you with necessary assistance.

· To continuously improve our products and services. We collect, use, process, and analyze your use of our products and services so that we can understand how to improve them for your benefit. Our analysis may include some information about your usage, such as, but not limited to, conducting analysis for research and marketing initiatives, including the generation of anonymized or non-personally identifiable location and mobility data to show footfall, location patterns, crowd density, and other information that may be relevant for marketing purposes.

· To understand your needs and preferences so that we can serve you better. We process data to determine your usage profile by maintaining a record of the products and services that you avail from us, and by analyzing other activities such as when you participate in our market research initiatives, when you visit and transact in our stores, and when you visit and use our websites and mobile apps such as PayMaya App, PayMaya Online Store (https://store.paymaya.com/), FreeNet App, Lendr App, We do so in order to gain a better insight about the kinds of offers that would be relevant to your preferences.

· To manage the security of our business operations. We may process your personal data to conduct IT security operations, to manage our assets, to ensure your fair use of our products and services, and for business continuity, disaster recovery, and audit purposes.

C. We process your personal data as you avail of our products and services so that we may be able to create and offer better products and services for you, including through direct marketing. We only carry out these processing activities based on your consent.

· To send you offers, recommendations and promotions. We process your usage profile to send you customized offers and promotions through your contact details using channels such as SMS, voice calls, e-mail and mobile App. This includes location-based offers that are exclusively available in areas that you may frequent.

· To conduct online marketing. We process information such as your mobile number, e-mail address, and browsing behavior, which we collect through cookies and tags (when you visit our websites) in order to place advertisements about our latest products and promotions on some of the most popular social media platforms and websites that you may visit. Please see our cookies policy https://www.paymaya.com/cookies and https://smartpadala.ph/cookies/ for more details.

· To elaborate your usage profile. We may also collect personal information about you from third-party sources such as our subsidiaries, affiliates, and business partners, to whom you have also given your consent for them to share your information with us. We create this enhanced usage profile about you solely to get a deeper understanding of your preferences so that we can send you even better targeted product recommendations, special offers, and promotions.

D. We process your personal data to comply with legal requirements.

· To assist public authorities. We generate statistical insights based on your usage of our network and facilities to assist public authorities in planning for healthcare, disaster management, and other similar initiatives. When we can, we aggregate and anonymize this information so that you are never identified as an individual.

· To comply with legal requirements. We run credit scoring programs and initiatives, that may include but not limited to, providing information to the Credit Information Corporation in accordance to Republic Act No. 9501 and the Credit Information System Act. We may also perform other required personal data processing or disclosure to meet other relevant legal and regulatory requirements.

When we disclose your personal data

In some instances, we may be required to disclose your personal data to our agents, subsidiaries, affiliates, business partners and other third-party agencies and service providers as part of our regular business operations and for the provision of our products and services.

This means we might share your information with:

• Our service providers, contractors, and professional advisers who help us provide our products and services. This includes partner companies, organizations, or agencies, and their sub-contractors. For example: our couriers for bill delivery and our customer contact centers for our pre- and post-sales hotline operations;

• Our subsidiaries and affiliates with whom you have also signed-up with. We do so only for the improvement of each other’s legitimate business and operations. For example: we share information with each other about your usage profile so that we can create new offers that bundle our products and services into a single subscription;

• Other companies to whom you have also given consent for us to share your information with. For example, when you sign-up for products and services offered by other companies, they may request for information from us in order for them to validate your identity; and

• Law enforcement and government agencies, but only when required by laws and regulations and other lawful orders and processes.

In these cases, we ensure that your personal data is disclosed on a confidential basis, through secure channels, and only in compliance with applicable privacy laws and regulations. We will never share, rent, or sell your personal data to third parties outside of PayMaya Philippines Inc., except in special circumstances where you may have given your consent for, and as described in this statement.

For a list of our partners, please visit https://www.paymaya.com/partners/

How we protect your personal data

The integrity, confidentiality, and security of your personal data are important to us. That’s why we strictly enforce our privacy statement within PayMaya and have implemented technical, organizational, and physical security measures that are designed to protect your information from unauthorized or fraudulent access, alteration, disclosure, misuse, and other unlawful activities. These are also designed to protect your information from other natural and human dangers.

We also put in effect the following safeguards:

· We keep and protect your information using a secured server behind a firewall, encryption and security controls;

We keep your information only for as long as necessary for us to (a) provide the products and services that you avail from us, (b) for our legitimate business purposes, (c) to comply with applicable laws, and (d) for special cases that will require the exercise or defense of legal claims, and for a maximum retention period of Five (5) years for physical data, and ten (10) years for digital data, thereafter.

· We restrict access to your information only to qualified and authorized personnel who are trained to handle your information with strict confidentiality;

· We undergo regular audits and rigorous testing of our infrastructure’s security protocols to ensure your information is always protected;

· We promptly notify you and the National Privacy Commission, when sensitive personal data that may, under the circumstances, be used to enable identity fraud are reasonably believed to have been acquired by an unauthorized person; and

· We let you update your information securely to keep our records accurate.

What your choices are

You are afforded certain rights in relation to your personal data under the Data Privacy Act of 2012 (Republic Act No. 10173). You are entitled (in the circumstances and under the conditions, and subject to the exceptions, set out in applicable law) to:

· Request access to the personal data we process about you: this right entitles you to know whether we hold personal data about you and, if we do, to obtain information on and a copy of that personal data.

· Request a rectification of your personal data: this right entitles you to have your personal data corrected if it is found to be outdated, inaccurate, or incomplete.

· Request the erasure of your personal data: this right entitles you to request the erasure of your personal data, such as in cases where your personal data is no longer necessary to achieve the legitimate business purpose of its use or processing.

· Request the restriction of the processing of your personal data: this right entitles you to request that we only process your personal data in limited circumstances, including with your consent.

· Request portability of your personal data: this right entitles you to receive a copy of personal data that you have provided to us (in a structured, commonly used and machine-readable format). This includes requests for us to transmit a copy of such personal data to another company, on your behalf.

You moreover have a right to object to the processing of your personal data, such as in cases when we process your personal data for purposes related to direct marketing.

To the extent that the processing of your personal data is based on your consent, you have the right to withdraw such consent at any time by contacting our Data Privacy Officer through the contact details provided below, or through the PayMaya App. Please note that this will not affect the lawfulness of the processing that was carried out before you withdrew your consent or PayMaya's right to continue parts of the processing based on other legal bases than your consent. If, however, we have not provided you with another legal basis justifying the processing of your personal data in this privacy statement, we will stop the processing and delete your personal data.

To exercise any of these rights, you may get in touch with our Data Privacy Officer through the contact details provided below. In some instances, we may request for supporting documents or proof before we effect any requested changes to your personal data.

If, despite our commitment and efforts to protect your personal data, you believe that your data privacy rights have been violated, we encourage and welcome individuals to come to PayMaya Philippines Inc. first to seek resolution of any complaint. You have the right at all times to register a complaint directly with the National Privacy Commission or to make a claim against us with a competent court (either in the country where you live, the country where you work or the country where you deem that data privacy law has been infringed).

PayMaya Philippines Inc. Data Privacy Office
6/F Launchpad Bldg., Reliance cor. Sheridan St. Mandaluyong City, Philippines
dpo@paymaya.com

** END OF GENERAL CONSENT FORM ** 

Annex E
SUSPICIOUS TRANSACTION REPORTING TEMPLATE

COMPLIANCE AND RISK MANAGEMENT OFFICE
Investigation and Assessment

Case #:_________ Date Reported:______________

CASE DETAILS

Case Date:
 
Report Source:  
Victim Info: Name:
Address:
Birthday:
Nature of Suspicion:  
Sender Info: Smart Money No.
Name:
Address:
Birthday:
Mobile Number
Other Related Accounts:

Smart Money No.
Name:
Address:
Birthday:
Mobile Number

Beneficiary Info: Smart Money No.
Name:
Address:
Birthday:
Mobile Number
Transaction Details: Transaction Date/Time:
Transaction Description:
Reference Number:

 

ATTACHMENTS

  • Complaint Letter
  • Completed Transaction Slip
  • Police Report
  • Sender ID
  • Claimant ID