PayMe for Business Terms and Conditions – Merchant
Please read these terms and conditions before using PayMe for Business. By completing the registration procedure and using PayMe for Business, you expressly recognise that you have carefully read and understood these terms and conditions and have accepted them fully.
What is PayMe for Business?
PayMe for Business is an e-wallet that allows you to accept payments from and send refunds to your customers who have PayMe accounts. You may only use your PayMe for Business account to facilitate payment of merchant transactions (i.e. in relation to the sale and purchase of goods and services) with your customers and you cannot use your PayMe for Business account to send money for other purposes (e.g. to conduct any personal transactions).
To use PayMe for Business, you must have a Hong Kong dollar business bank account with The Hongkong and Shanghai Banking Corporation Limited (HSBC), and have registered for business internet banking service.
You must also designate an authorised representative to agree to these terms and conditions and to use PayMe for Business on your behalf. Your authorised representative must have authority to enter into agreements and give instructions to us on your behalf. You cannot apply for more than one PayMe for Business account per legal entity.
Do not use PayMe for Business for any illegal purposes or activities. This includes obeying any law or regulation which applies to you, whether in or outside Hong Kong in respect of your use of PayMe for Business. In the event of any violation, we reserve the right to suspend or close your PayMe for Business account and report your activity to the relevant authorities.
We may charge you a fee for providing the PayMe for Business service, maintaining the PayMe for Business account and/or supplying our Application Programming Interface (API) from time to time. A list of our standard fees (if any) is available on our PayMe public website. You will pay us the standard fees unless we agree different fees with you. Any fees that we may charge will be deducted directly from the settlement funds from your customers or as otherwise specified on our public website or notified to you from time to time. If you do not agree with any new or varied fees, you can stop using PayMe for Business (including our API, as applicable) and you will not be charged going forward.
Sometimes we might change the services offered through PayMe for Business or there might be reasons we have to suspend or withdraw some or all of the PayMe for Business services. If we do that we will send you a notice and you will have the option to stop using PayMe for Business.
If we change these terms and conditions, we will send you a notice and again you will have the option to stop using PayMe for Business if you do not agree with the new terms and conditions. You can do this by notifying us through our usual communication channels.
If any information that you have given us (including information relating to your authorised representative) changes, you should notify us immediately.
Receiving Payments from Your Customers
You can receive payments from your customers who have a PayMe account. Your PayMe for Business account is not an interest bearing account and therefore you will not receive any interest for the funds stored in your account.
Your customers can select PayMe as a payment method and pay by transferring funds from their PayMe individual accounts to your PayMe for Business account instantly.
When conducting transactions at physical outlets where your customer is presenting his/her PayMe for payment, such payment will be conducted by way of the customer scanning a PayCode generated by your PayMe for Business mobile application. We may introduce other ways for your customers to pay you using PayMe from time to time.
Sending Refunds to Your Customers
You can refund an amount to your customer using your PayMe for Business account within the time specified and in the manner set out in our PayMe public website or the “Need Help?” section of the PayMe for Business app. Your instruction to refund cannot be reversed or cancelled.
To send a refund, you will have to identify the relevant transaction in your PayMe for Business mobile application and enter the refund amount. A refund operates as a funds transfer from your PayMe for Business account to your customer’s PayMe account and such transfer would be settled instantly.
We will process the refund if your PayMe for Business account has sufficient balance to settle the refund amount and if the refund would not cause you to exceed any payment limit of your PayMe for Business account. However, if your customer no longer maintains a valid PayMe account and/or your customer has reached the relevant limits imposed on his/her PayMe account, the refund cannot be processed. Although we may allow you to make multiple partial refunds, the aggregate total amount of the refunds in relation to a transaction cannot exceed the amount of the original transaction.
If a refund is successfully processed, any fees (or applicable portion of the fees) already paid by you to us with respect to the transaction being refunded will be returned to you and posted to your PayMe for Business account immediately. While you can use the refunded fees once posted, the actual settlement of the refunded fees into your PayMe for Business account will take place by no later than the end of the next business day.
We may introduce other ways for you to refund an amount to your customers using PayMe in the future.
Funding out from Your PayMe for Business Account
You can transfer money in your PayMe for Business account to your registered bank account but there may be a transfer limit, the amount of which we will notify you in advance. Your transfer instructions to your bank account cannot be reversed or cancelled.
Transaction History and Reporting
You can view your latest transactions (up to a certain period which can be found in the “Need Help?” section) through your PayMe for Business application, including all merchant payments, refunds and fund-outs. If you wish to view only transactions within a certain period, you can generate a customized report showing only the transactions within the specified period.
You can email or save a copy of any transaction report generated in your PayMe for Business application by using the exporting function in the application.
What Terms Apply to You?
When you use PayMe for Business, these terms and conditions together with the HSBC terms and conditions relating to your business bank account, the “Notice Relating to the Personal Data (Privacy) Ordinance” and the PayMe for Business Personal Information Collection Statement would apply.
If there is any discrepancy amongst the above terms and conditions, these terms and conditions will prevail unless otherwise specified.
Where your customer makes a purchase from you using PayMe, if your customer wishes to do so, he or she may (where applicable) share such information regarding the purchase on his/her timeline.
Use of our Application Programming Interface (API)
If you are conducting your business through your own business app and/or website and would like to enable your customers to choose PayMe as an option to make online payments for transactions, please notify us through our usual communication channels and we may give you access to our API (accessible via our portal or such other means as may be notified to you) so that your own business app and/or website will be able to connect with PayMe to facilitate such payments. The use of our API or any portal containing our API is subject to these terms and conditions, the terms and conditions set out in such portal and other terms as may be agreed between you and us from time to time. You represent and warrant that each person accessing and/or using our API or any portal containing our API on your behalf is duly authorised by you to do so.
PayMe has developed and provides access to our API that you can use to access our service. Your use of our API may be subject to testing and approval by us from time to time. By using our API, you do not acquire ownership of any rights in our API. You may use our API solely in relation to the services and should not use our API for any purpose, function, or feature not contemplated in these terms and conditions. In particular, you shall not (a) allow our API to be used by a third party, (b) interfere with or disrupt our API or the services or networks providing our API, or (c) disclose our API or any related security key to any third party without our consent. If you would like to use our API beyond these limits, you must obtain our express consent.
You further agree that you will use commercially reasonable efforts to enable your customers to use our services through our API in an efficient and cost effective manner, including implementation of PayMe on your platform, the development of our API, technical integration, and data exchanges as necessary.
We cannot guarantee that our API (or any portal containing our API) will function without interruption or errors in functioning. In particular, the operation of our API (or any portal containing our API) may be interrupted due to maintenance, updates, or system or network failures. We are not responsible for all liability for damages caused by any such interruption or errors in functioning of our API or portal. We are also not responsible for any interruptions which are beyond our control such as disturbances related to internet service providers, saturation of the internet network, and any other analogous reason.
Use of Your information
You can find out how we will collect, use and store your personal data in the “Notice Relating to Personal Data (Privacy) Ordinance” and the PayMe for Business Personal Information Collection Statement at the end of these terms and conditions.
To provide, maintain and improve our PayMe for Business product and service offering in addition to location services, subject to the HSBC terms and conditions relating to your business bank account, we may also use data (other than personal data) that we collect from your use of PayMe for Business services (e.g. details of the transfers, transactions and dealings using PayMe for Business) to:
- manage, administer or effect any transactions on PayMe for Business;
- maintain our overall relationship with you;
- generate statistics, reporting and trend analysis to customize your PayMe for Business user experience as you use and interact with PayMe for Business and to provide market insights to users of PayMe for Business; and/or
- make improvements/further developments to the PayMe for Business app
You will need to pay your tax, including filing your tax returns, in any country where you owe tax obligations.
Disputes Between You and Your Customers
You are responsible for your relationship with your customers. PayMe for Business is not responsible for the products or services you sell and you confirm that you are solely responsible for the nature and quality of the products or services you provide, and for the delivery, support, refunds, returns, and for any other ancillary services you offer to your customers.
PayMe for Business cannot assist you to resolve any dispute with your customers. As a provider of payment processing service, PayMe for Business only helps you receive payments and send refunds to your customers who use PayMe. Accordingly, in the event that there is any error or mistake on your part (including where incorrect amounts are charged or where incorrect refund information is provided), you are responsible for taking any necessary corrective action.
- To ensure that our systems relating to PayMe for Business are installed with adequate security designs and to manage the risk in operating our systems.
- That if we have been grossly negligent or wilfully defaulted when we provide PayMe for Business service to you (in this case “we” includes a member of our corporate group, one of our agents or our employees), we will reimburse you the lower of (a) any loss or damage you suffered which was direct, reasonably foreseeable and caused by that gross negligence or wilful default; or (b) the amount of the relevant transfer, transaction or dealing.
- That if we appoint agents, service providers, or sub-contractors (which might include members of our own corporate group) to perform services for us, we will remain liable to you for their gross negligence or wilful default as if we had performed the services ourselves.
We are not responsible for:
- Any interruption, interception, suspension , delay, loss, unavailability or other failure in providing our services to you, or in transmitting instructions or information relating to our services, which is caused by any circumstance beyond our reasonable control.
- Any loss of revenue, anticipated savings, goodwill, opportunity, business, reputation, data (or damage to or corruption of such data), profit or interest, indirect or consequential loss arising from or in connection with our providing the services, or failure or delay in providing our services.
- Not to decompile, reverse-engineer, translate, convert, adapt, alter, modify, enhance, add or delete or in any way tamper with any portal containing our API, our API or any part of it, including its code or any of our websites, software or PayMe/PayMe for Business content or take any action which would allow someone else to do any of the above, including letting someone else access our portal, API, websites, software or PayMe/PayMe for Business content.
- Not to engage in any activity that interferes with or disrupts any portal containing our API, our API, our websites, our software, the PayMe/PayMe for Business content or the servers or networks through which they are provided.
- Not to modify, copy, reproduce, download, re-publish, sell, re-sell, rent, lease, loan, distribute or create derivative works based on any portal containing our API, our API, our websites, our software, or any PayMe/PayMe for Business content.
- Not to install, import or transmit any disabling codes, or malicious instructions, codes, techniques or devices capable of disrupting, disabling, damaging or shutting down any portal containing our API, our API, PayMe/PayMe for Business, our websites, our software, the PayMe/PayMe for Business content or any of our services or systems.
- To display the relevant PayMe logo provided to you by us and identify PayMe prominently as a payment method accepted by you at physical retail outlets, within your applications and/or on your website and such information shall be displayed whenever payment options are being featured. Upon closure of your PayMe for Business account, all of your rights to display or otherwise use the relevant PayMe logo will cease immediately and you must remove the logo from your physical retail outlets, your applications and/or your website.
- To take your own advice on issues like legal, tax and other issues which affect you and your use of PayMe for Business.
- Not to violate anyone else’s intellectual property rights, especially when uploading any logo or picture to your PayMe for Business account.
- Not to use any information about PayMe users obtained through your PayMe for Business account for purposes unrelated to the services provided under these terms and conditions.
- Not to disclose any information about PayMe users obtained through your use of PayMe for Business to any third parties unless with the consent of the relevant PayMe user and/or acting in compliance with applicable laws and regulations.
- Not to engage in any behaviour which is fraudulent, harassing, disruptive, offensive, threatening, indecent or defamatory.
Stored Value Facility
PayMe for Business is regulated under the Hong Kong “stored value facility” regime. Among other things, this means that the money in, or posted to, your PayMe for Business account will (1) stay there until it is transferred to your HSBC business bank account or refunded to your customer(s) through PayMe and (2) be used exclusively for providing PayMe for Business to you and for no other purpose. You will always retain beneficial ownership in the money in, or posted to, your PayMe for Business account. This means that the money belongs to you even if it is held in our name.
Your money in your PayMe for Business account is not protected by the deposit protection scheme.
Circumstances Beyond Our Control
PayMe for Business might be interrupted, suspended or might fail from time to time for reasons beyond our reasonable control. Laws and regulations may prevent us from providing PayMe for Business services. Our ability to provide the services may also be affected by activities performed by us (or any HSBC group members) to comply with obligations (under laws, international guidance, mandatory policies or procedures, or under the direction of government authorities) relating to or in connection with the detection, investigation and prevention of financial crime (including money laundering, terrorist financing, bribery, corruption, tax evasion, fraud, evasion of economic or trade sanctions, and/or violations, or attempts to circumvent or violate any laws or regulations relating to these matters). We might ask you about the source of funds or other questions to help us protect against financial crime. This might involve us sharing information with other members of our group or to third parties which help us investigate further. In these circumstances, we cannot be liable to you or any other person for your losses.
Suspending or Closing Your Account
Unfortunately we might sometimes need to suspend or close your PayMe for Business account. We might be unable to give you notice before this occurs. We might also suspend or close your PayMe for Business account if you do not use it for an extended period.
You can close your PayMe for Business account at any time by giving us notice or contacting us through our usual communication channels.
To effect a closure of your PayMe for Business account, you need to take such steps as we may instruct, including the transferal of any money out of your PayMe for Business account and/or removal of PayMe for Business from your mobile device.
You are responsible for your obligations and any fees incurred before your account was suspended or closed. If your account is suspended or closed, the parts of these terms and conditions that are by their nature continuing, including our disclaimers or limitations of liabilities, will continue despite that suspension or closure.
Transferring These Terms and Conditions
We might transfer our rights or obligations under these terms and conditions to a third party. If we do, we will tell you in advance. You cannot transfer your rights or obligations to a third party without our agreement.
Governing Law, Jurisdiction and Versions
These Terms and Conditions are governed by and will be construed according to Hong Kong laws. If there is any dispute relating to these terms and conditions, you agree to submit to the non-exclusive jurisdiction of the Hong Kong courts.
The English version of these Terms and Conditions prevails to the extent of any inconsistency between the English and the Chinese versions. Any Chinese version of these Terms and Conditions is for reference only.
Third Party Rights
No person other than you and us will have any right under the Contracts (Rights of Third Parties) Ordinance to enforce or enjoy the benefit of any of the provisions of these terms and conditions.
SVF License Number: SVFB002