Please read the following terms and conditions carefully before registering for, accessing or using Payer, an electronic wallet and payment service provided by Payer Private Limited, through its mobile application, website or any other channel we introduce from time to time (together, the "Platform"). By accessing or using the Platform or the Services (defined in section 4), you agree to be bound by these terms and conditions, including any additional rules and future changes. If you do not agree to these terms and conditions, you may not access or use the Platform and must stop using the Services immediately.

1. Your Agreement to these Terms and Conditions

The Terms and Conditions (as may be amended from time to time, the "Agreement") is a legal contract between you being an individual customer, user or beneficiary of this service of at least 18 years of age and Payer Private Limited ("Payer", "we", "us") having its registered office at Infinity Hub, 1st Floor, Mirihi Magu, Hulhumalé, 23000, Maldives.

Some features, such as withdrawals, ask you to accept additional rules in the app before you use them. Those rules form part of this Agreement.

2. Eligibility

The services are not available to persons under the age of 18 or to anyone previously suspended or removed from the services by Payer. By accepting these Terms & Conditions or by otherwise using the Services or the Platform, you represent that you are at least 18 years of age and have not been previously suspended or removed from the Services.

3. Who We Are

Payer Private Limited is licensed by the Maldives Monetary Authority as a Payment Service Provider under the National Payment System Act. We operate an electronic wallet and issue electronic money: the balance in your Payer wallet. We must follow the laws and regulations of the Maldives that apply to payment service providers, including those on preventing money laundering and the financing of terrorism. Where these terms conflict with those obligations, the law prevails.

4. The Services

Payer provides an electronic wallet that lets you hold electronic money and use it to make payments, transfer funds, pay bills, and buy goods and services through the Platform (the "Services").

Your Payer balance is electronic money. It is not a bank deposit, it does not earn interest, and it is not covered by any deposit insurance scheme.
The money behind customer balances is held in a safeguarded account at a licensed bank in the Maldives, separate from Payer's own funds.
Your wallet is for paying bills, merchants and people. It is not a way to move money between bank accounts.

5. Your Account and Security

To use the Services, you must create an account by providing accurate and complete information. You are responsible for maintaining the confidentiality of your account credentials and for all activities under your account.

You may hold only one personal account, and it must be in your own name. You must not let anyone else use it.
Never share your PIN, password or one-time codes. Payer staff will never ask for them.
Tell us immediately at support@payer.mv if your phone is lost or you think someone else has used your account. You are responsible for transactions made before you tell us, unless the law says otherwise.
Keep your details up to date, including your name, mobile number and identity documents.

6. Identity Verification (KYC)

The law requires us to know who our customers are. By using the Services you agree that:

You will give us the identity documents and information we ask for, such as your national ID card, passport, work permit or visa, and that what you give us is genuine, current and your own.
We may check your information with government records and other trusted sources, and may ask you to verify again or provide more information at any time, including about the source of your funds or the purpose of a transaction.
Until your identity is verified, some or all features may be unavailable or limited.
We may refuse to open an account, or to verify one, without giving a reason.
If you give us false, misleading or someone else's information, we may suspend or close your account and report it to the relevant authorities.

7. Limits

We set limits on your account, including on your balance and on the number and value of transactions per transaction, per day and per month. Limits depend on your verification level, your account history, our assessment of risk and regulatory requirements. We may change your limits at any time, and may apply a lower limit to your account without notice where we consider it necessary to manage risk or comply with the law. You must not try to get around a limit, for example by splitting a payment or using more than one account.

8. Prohibited Use

You must not use Payer, or let anyone else use it, to:

break any law, or for money laundering, terrorist financing, fraud, scams or the proceeds of crime;
move money in and out of bank accounts with no real activity on Payer behind it (pass-through use);
receive or send money on behalf of another person, or run a business through a personal account;
pay for anything illegal in the Maldives, including unlicensed gambling;
use stolen, borrowed or another person's identity, bank account or card; or
interfere with, copy or misuse the Platform, or try to get around any of our security or limits.

9. Deposits and Withdrawals

Deposits must come from a bank account in your own name. We may reject or return a deposit from anyone else.
Withdrawals are paid only to a bank account in your own name.
We review withdrawals and may delay or decline any request that does not meet these terms or our obligations under the law.
If money is withdrawn with no real activity on Payer behind it, your account will be suspended while we review it.

10. Our Right to Refuse, Hold or Reverse

We may, at our discretion and without liability to you:

refuse, delay or cancel any transaction, deposit or withdrawal;
hold or freeze funds in your account while we investigate, or where a court, regulator or law enforcement authority requires it;
reverse a transaction made in error, by fraud, or in breach of these terms, and recover any amount wrongly credited to you from your balance; and
refuse to provide the Services to anyone.

Where the law allows, we will tell you that we have done so. We may not always be able to give you a reason.

11. Monitoring and Reporting

We monitor accounts and transactions to detect and prevent fraud, money laundering, terrorist financing and other financial crime. You agree that:

We report suspicious transactions and activity to the Financial Intelligence Unit, the Maldives Monetary Authority, the Maldives Police Service and other competent authorities, as the law requires or permits.
We share information about you, your account and your transactions with those authorities, and with courts, when lawfully required to.
The law may prevent us from telling you that a report has been made or that an investigation is under way.
We keep records of your identity and transactions for as long as the law requires, including after your account is closed.

12. Suspension and Closure

We may restrict, suspend or close your account, with or without notice, if:

you break these terms or any rule shown in the app;
we suspect fraud, financial crime, or misuse of the account by you or anyone else;
you do not give us information we ask for, or the information you gave is false or out of date;
a court, regulator or law enforcement authority requires it;
your account has been inactive for a long period; or
continuing to provide the account would expose Payer to legal, regulatory or reputational risk.

You may close your account at any time by contacting us. When an account is closed, we will pay any remaining balance to a verified bank account in your name after deducting any amounts you owe us, unless the law requires us to hold it or pay it to an authority.

13. Payments, Errors and Disputes

Check the recipient and amount before you confirm. Most payments complete immediately and cannot be cancelled.
If you think a transaction is wrong or was not made by you, tell us as soon as possible, and in any case within 30 days. We will investigate and tell you the outcome.
Payments to billers, telecom operators and merchants are also subject to their own terms. Disputes about the goods or services you paid for are between you and them.

14. Fees

Any fee for a transaction is shown in the app before you confirm it. We may change our fees by updating them in the app or on our website.

15. Privacy

Your privacy is important to us. Please review our Privacy Policy to understand how we collect, use, and protect your personal information.

16. Limitation of Liability

To the fullest extent permitted by law, Payer shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the Services. Payer is not liable for any loss caused by refusing, delaying, holding or reversing a transaction, or by suspending or closing an account, where we acted in good faith under these terms or the law, or for any failure of a bank, biller or other third party.

You agree to cover any loss Payer suffers because you broke these terms or the law.

17. Changes to these Terms

We may change these terms at any time. We will publish the updated terms on this page and, for significant changes, tell you in the app. If you keep using Payer after a change, you accept the updated terms.

18. Governing Law

These terms are governed by the laws of the Maldives, and the courts of the Maldives have jurisdiction over any dispute arising from them.

19. Contact

If you have any questions about these Terms & Conditions, please contact us at support@payer.mv.