This agreement becomes effective between YAP and you at the time of registering for electronic banking, through our Mobile Banking app.
Please read the following terms and conditions carefully, since these constitute an agreement between YAP and you, setting out the rights and obligations in context of your use of YAP Mobile App Banking Services.
Electronic Money Institution (“EMI”)
These terms and conditions (“Terms and Conditions” or “Terms”, as the context so requires) apply to those parties interested in downloading and signing up with the mobile application, YAP and to those parties that proceed to complete the registration requirements for the use of the services (“Services”)of YAP, operated by YAP Pakistan Pvt Ltd, a company incorporated under the laws of Pakistan with its registered office at 34-J3, Opposite Expo Center, Johar Town, Lahore (“YAP”) as customers (“Customer” or “Customers”, as the context so requires). The Terms and Conditions are as follows:
I. Customer Registration
1. Interested parties shall be required to download the application on their mobile phones. Subsequently, the interested parties may either sign up for YAP or create an account with the same. For the avoidance of doubt, it is clarified that only such parties that have created an account with YAP and provided such details as required by the Regulations for Electronic Money Institutions issued by the State Bank of Pakistan (“EMI Regulations”) shall become Customers of YAP.
2. To get registered, the Customer must:
a) Be a Pakistani national of 18+ years of age;
b) Have a valid CNIC/NICOP or SNIC;
c) Have a copy of the CNIC/NICOP or SNIC at the time of registration and/or provide a thumb impression for biometric verification;
d) Have a registered mobile number (“Mobile Number”).
e) Provide details including residential address, place of birth, mother’s name, or such details as required by YAP at the time of registration;
f) Provide a recent digital photograph;
g) Comply with such other criteria as set forth in the EMI Regulations; and
h) Accept these Terms and Conditions governing the use of the Service.
3. With respect to the Mobile Number, the Customer must ensure, at the time of registration that such number is active and valid against a biometric verified SIM issued by any telecom service which must be registered with YAP to use certain facilities which form part of the Services provided and which involve the use of mobile phones by Customers to undertake transactions (“Transactions”).
4. The Customer undertakes that the information provided by the Customer shall be correct and accurate and may be used for retrieving passwords and/or verifying credentials when such Customer calls the helpline designated for the YAP (“Helpline”). If the Customer subsequently notices an error in the information provided, such Customer shall immediately inform YAP through the Helpline to allow YAP to correct the error according to our predetermined standard operating procedures.
5. Upon provision of details by the Customer as required by these Terms and Conditions, YAP shall proceed with verifying the details with the National Database and Registration Authority (“NADRA”). The kind of authentication process undertaken in respect of the information provided shall define the monthly transaction limits provided to the Customer. The monthly aggregate load limit that may be issued is PKR 50,000/- on CNIC verification from NADRA and PKR 200,000 on biometric verification from NADRA (“Prescribed Limits”).
6. YAP at its sole discretion may accept or reject request for registration. In case the request of the Customer is accepted for availing the Services, YAP will open an EMI account in the name of the Customer (“EMI Account”).
7. The EMI Account shall function as a deposit account.
8. Only one EMI Account will be opened per CNIC, per Mobile Number.
9. Upon the completion of the prerequisites and for registration completion YAP shall send a four-digit one time password (OTP) to the Customer. After the verification of OTP, the Customer will be able to login their account using their set passcode and select a six-digit passcode to be used to access his /her EMI Account.
II. How to use YAP
1. Once registered as a Customer of YAP, the Customer may proceed to use the Services. The Services include the option to (a) add money to the YAP either through [a cash deposit with the designated arrangement between YAP and Partner Bank], through funds transfer, through credit/debit cards (b) make payments using the YAP which shall include top-up purchases, bill payments, payments to merchants registered with YAP, retain network payments and online transfers either to other Customers of YAP or other account holders.
We do not guarantee the availability of any particular load method and may make changes to or discontinue the acceptance of any particular load method at our sole discretion and/or in compliance with Applicable Laws.
Funds will be credited to your YAP Account after the corresponding PKR have been received by us or on behalf of us by the relevant Partner Institution
2. All instructions for operating the account and availing the Services shall be given by the Customer (“Customer Instructions”) in the manner prescribed by YAP. The Customer shall be responsible for accuracy, completeness and authenticity of the Customer Instructions and the given information shall be considered accurate and enough to operate the EMI Account.
3. The Customer accepts that the confidential information provided by the Customer can be stored for audit purposes and can also be shared with YAP’s service providers. The Customer also accepts that the device information for YAP i.e., IMEI etc. shall also be stored by YAP for record purposes.
4. The Customer further authorizes YAP to share the data with its service providers for log management and marketing campaigns. YAP is further authorized to use the Customer Instructions, correspondences and any other data provided as evidence in the relevant court of law in case of any dispute, fraud, loss, liability, or litigation
5. The Customer must, at all times, have sufficient funds available in their YAP account to complete requested transactions. In case of insufficient funds YAP shall have the absolute right to decline any authorization relating to the transaction.
The Customer must regularly view the transaction history/statement and notify us within 30 days in case of any unauthorized or incorrect transaction and YAP will try to accommodate the customer to the best of their ability.
6. The Customer shall not credit any amount in their EMI Account which is greater than the assigned limits for EMI Accounts and YAP shall have the right to reject such attempted transactions.
7. YAP at its discretion may amend, add, or remove any of the facilities offered under the Services and the Terms. Such amendment, addition or removal shall be communicated to the Customer [7] business days prior to the changes, as per the standard operating procedures followed by YAP.
8. The Customer undertakes and agrees not to use or permit the use of the Services for any illegal, improper or fraudulent purposes and shall comply with all applicable Terms and Conditions.
9. The Customer shall be exclusively responsible for any illegal funds transfer and money laundering activity through their YAP EMI Account. If any activity is deemed suspicious or illegal, such activity shall be suspended by YAP and an investigation shall be initiated if YAP deems appropriate. The said EMI Account shall only be re-activated at YAP’s discretion and upon completion of an investigation which establishes that no law was contravened. The Customer agrees to update his/her details/information as per the anti-money laundering laws, or instructions of the State Bank of Pakistan or at the request of YAP.
10. The Customer shall at all times be liable to pay to or reimburse YAP for any amount transferred to his/her EMI Account in excess of his/her rightful ownership, be it due to system error, or due to a technical glitch and YAP shall also have the right to mark debit/recover the relevant amount from the EMI Account of the Customer.
11. The provision of the Services is subject to all applicable charges and taxes.
III. Safety of Confidential Information
1. The security of the personal identification number (PIN) or any passcodes must not be endangered or compromised by choosing a PIN/passcode that can be easily guessed, such as the four (4) digits of the same numbers such as (1111) or numbers in sequence (such as 1234).
2. The Customer must not in any case save their PIN or password on their mobile phone used with the Mobile Number or registered SIM. If the Customer’s handset automatically stores his/her PIN or passcode, the Customer shall remain specifically responsible to remove such automatic instructions or understand that if their mobile phone is stolen, is lost or is outside the actual control of the Customer, the information saved might result in identity verification information being leaked and loss of the Customer’s funds.
3. The Customer irrevocably and unconditionally undertakes to make sure their confidential information including PIN remain confidential and ensure no one other than themself can access their login PINs and Mobile handset. The Customer comprehends that any sharing of such sensitive information can lead to loss of customer’s funds and unauthorized use of services.
4. If the Customer has reason to believe that their EMI account has unauthorized access without their approval/ PIN, or due to the negligence of the customer, and/or its breach of the terms and conditions, and/or any applicable law, they should immediately block their account by calling the YAP helpline. Before the account is blocked in this case, the customer will be liable for any loss occurred to them.
5. YAP shall not be liable if anyone gets access to Customer’s PIN and/or SIM/Mobile Number and such Customer fails to inform YAP. The transactions received in this regard are deemed authorized and will be considered legitimate and acted upon by YAP. YAP shall not accept any liability in this regard and shall not be liable for the claim and compensation against by the Customer.
6. Information regarding the transactions shall be sent to the Customer by YAP through the communication portal of YAP, the Mobile Number or the email address provided at the time of registration by the Customer. For the avoidance of doubt, it is clarified that, YAP cannot guarantee the delivery of an SMS to the Mobile Number and YAP shall not be responsible for any loss, expense, claim or damage whatsoever arising from any delay or failure of SMS to reach the Customer due to any issue either at the telecom operator’s end or otherwise and shall only be responsible for such loss or damage that has occurred due to a direct act or omission on the part of YAP. Furthermore, YAP shall only communicate with the Customers via email and never contact Customer via informal channels (WhatsApp etc.) The Customer understands that any links or documents shared via such channels may not be genuine and should be accessed by the Customer at the Customer’s own risk and responsibility.
7. The Customer understands that YAP will never ask for the Customer’s login PINs and that the Customer shall not share his/her PIN and/or pass code with anyone, including YAP staff, or other agents under any circumstances. The Customer further understands that no request for information shall be made via WhatsApp, SMS or any other social media application.
IV. Fees/Costs
1. The fees for the use of the Services by the Customer (“Fees”) shall be as per the Schedule of Charges of YAP (“SOC”) available on the website/mobile application of YAP. By using the Service, the Customer authorizes YAP to debit his/her EMI Account with the Fees and all applicable charges as per the SOC and government levy or tax that is in force and applicable at the time of the Transaction automatically whether communicated to the Customer. Transfer fees will be applicable as mentioned in SOC.
2. In case YAP is unable to debit the Fees for the Services, it reserves the right to temporarily suspend the EMI account, restrict authorizations of future Transactions and request the Customer to promptly make the requisite funds available in the EMI Account. If sufficient funds are not available in the EMI Account, then YAP may terminate the Services until recovery of the said Fees and/or other applicable charges. If there are any Fees and/or other applicable charges still unpaid by the Customer after termination, the Customer shall be liable for the full outstanding amount owed to YAP and YAP reserves the right to recover any unpaid Fees and /or other applicable charges from the EMI Account of the Customer as soon as funds are added to the EMI Account by the Customer.
V. Liability and Exclusion of Liability
1. The Customer agrees to use the Service at his/her own risk and YAP shall not be liable for any loss or damage whatsoever, unless such loss or damage arises due to any direct act or omission, gross negligence, or fraud on part of YAP or its staff.
2. The Customer shall indemnify YAP against any claims by third parties or loss suffered by YAP arising from the use of the Service by the Customer.
3. The Customer shall be responsible for giving Customer Instructions. YAP shall not be responsible for any loss or damage caused due to Customer’s error. Furthermore, YAP shall not be liable for payments made by the Customer to unintended recipients or beneficiaries if the Customer gives incorrect information to YAP. If the funds are transferred to the account of unintended recipients through YAP due to incorrect Customer Instructions, YAP will not be able to reverse the incorrect Transaction/payment without specific consent of the recipient or beneficiary.
4. YAP shall not be liable for any interruption/cessation of Services that are affected by issues relating to telecommunication networks or banking networks, other technological glitches, malicious/destructive or corrupting code/program which result in the Services being interrupted/ made unavailable. The provision of the Services may also be affected by force majeure events and other events that are outside the control of YAP for which YAP shall not be liable.
5. YAP shall not be liable for any indirect, incidental, or consequential damages whatsoever whether including loss of revenue, interruption of business whether sustained by the Customer or any other person.
VI. Termination, Suspension or Withdrawal of the Services
1. We may terminate your YAP Account and the Services associated with the YAP Platform by giving you one (1) month’s prior notice
YAP may terminate, suspend, or withdraw the Services without notice if the Customer:
(a) commits a breach of the Terms and Conditions; or
(b) YAP receives an intimation/instruction through court order or by law enforcement agency, competent authority, or regulator.
(c) we suspect that an unauthorized or fraudulent use of your YAP Account has occurred or that any of its security features have been compromised.
(d) in case we suspect that you are in any way involved in any fraudulent activity, money laundering, terrorism financing or other criminal activity.
2. In the event of the above, YAP reserves the right to terminate the Services provided to the Customer immediately without any notice to the Customer. Upon termination, the Customer shall be liable to pay/settle the Fee and /or any other charges outstanding for any Transaction carried out pursuant to the Customer’s Instructions. YAP reserves the right to recover the said Fees and/or other charges from the Customer.VII. General
1. All Transactions, Fees and/or other charges recovered from the Customer will be shown/displayed on the YAP, [emailed] mini statement or can be obtained from YAP upon a prior request made on the Helpline.
2. YAP may, from time to time, amend these Terms and Conditions or the Services and such amendments are deemed accepted by the Customer after they are notified as stated hereafter and if the Customer continues to avail the Services. The revised Terms and Conditions will be available on the YAP and the website of YAP and may be communicated through other means such as an SMS to the Mobile Number or in-app intimations as deemed appropriate by YAP.
3. Any failure by YAP to enforce its rights will not constitute a waiver of such rights.
4. The Customer shall not cede, assign, or transfer, in any way, the rights and obligations pertaining to the Customer in respect of the Service to any other person or entity without the express and prior written consent of YAP.
5. If the Customer wishes to lodge any complaints, the same shall be done using the Helpline. YAP will process/investigate the complaint and revert to the Customer within a reasonable period of time.
6. YAP, in compliance with the relevant laws and regulations, may intercept and investigate any Customer Instructions, payment messages and other information or communications sent to or by the Customer and this may include investigation and stopping the related transactions and may disclose such information to any law enforcement agency, competent authority, court of law or any regulatory authority, as required.
7. YAP will not be held responsible for any service issue if the same occurs due to the Customer having a Mobile Number with mobile network portability.
8. YAP reserves the right, without any prior notice to the Customer, to debit the EMI Account for any expenses, fees, commissions, markup/interest, zakat, withholding tax, stamp duty, tax, duty or any other cost, charges or expenses arising out of any Transactions or operation of the EMI Account as may be payable from time to time. All applicable taxes shall be recovered as per the relevant tax laws in force.
9. YAP may correct erroneous and incorrect posting of entries and inform the Customer subsequently.
10. The Terms and Conditions shall be governed by the substantive, and procedural laws of the Islamic Republic of Pakistan. The Customer hereby agrees that any legal action or proceedings arising out of or in connection with these Terms and Conditions shall be brought in the competent courts at Lahore and the Customer irrevocably submit itself to the jurisdiction of such competent courts.
VIII. Miscellaneous
1. The customers YAP Account is personal to the customer and the customer may not assign any rights under the Terms of Use to any third party.
2. The customers YAP Account is operated in Pakistan and these Terms of Use shall be governed by and interpreted in accordance with the laws of Islamic Republic of Pakistan. Any dispute under these Terms of Use or otherwise in connection with the customers YAP Account shall be brought exclusively in the courts of Lahore.
3. If any part of these Terms of Use is found to be invalid or unenforceable under Applicable Laws then such part shall be severed from the remainder of the Terms of Use, which shall continue to be valid and enforceable to the fullest extent permitted by Applicable Laws.
IX. Closing your YAP Account
1. We may close the customers YAP Account in accordance with section 6. The customer may close their YAP Account at any time by contacting Customer Service. If the customers YAP Account holds a balance at the time of its closure, we will ask the customer to withdraw their funds within a reasonable period of time, during which the customers YAP Account will be accessible for the purpose of withdrawing the remaining balance only. After the expiry of this period the customer will not be able to access their YAP Account, but the customer may withdraw any remaining funds by contacting Customer Service and requesting that the funds are sent to the customer in accordance with the relevant procedure.
2. In the event that the customer decides to discontinue use of a Debit Card, such Debit Card shall be returned to YAP or destroyed. Notwithstanding this, the Debit Card issued to the customer shall remain at all times, the sole property of YAP and shall be surrendered on demand to YAP as per YAPs request. YAP, at its sole discretion, reserves the right, at any time, to cancel or withdraw the customers Debit Card or refuse to reissue, renew, or replace the same under intimation to the customer. .
3. In the event of the customers death, Transactions shall continue to be debited to the customers YAP Account till such time that YAP is informed in writing about the customers death. Upon receiving such notice, YAP will block any fresh Transactions carried out from the date of receipt of the notice. All Transactions authorised through the customers PIN, passcode/password, and other security credentials, before receipt of notice of the customers death, shall be debited to the customers YAP Account accordingly. Subject to exercise of any remedy available to YAP, in its sole discretion, in the event of the customers death, custody of the funds present in the customers E-Money Account shall only be handed to your successors-in-interest upon receipt of a succession certificate issued in accordance with Applicable Laws.
4. YAP reserves the right to carry out any necessary money laundering, terrorism financing, fraud, or other illegal activity checks before authorising any withdrawal of the customers funds, including in relation to returning any funds to the customer after the customer has closed their YAP Account.
X. Prohibited Transactions
1. It is strictly forbidden to use the Payment Services in connection with the sale or supply of: drugs and drug paraphernalia, weapons (including without limitation, knives, guns, firearms or ammunition), satellite and cable TV descramblers, pornography, adult material, material which incites violence, hatred, racism or which is considered obscene, government IDs and licences including replicas and novelty items and any counterfeit products, unlicensed or illegal lotteries or gambling services (including without limitation the use of or participation in illegal gambling houses), unregistered charity services, items which encourage or facilitate illegal activities, prepaid debit cards or other stored value cards that are not associated with a particular merchant and are not limited to purchases of particular products or services, third party processing or payment aggregation products or services, multi-level marketing, pyramid selling or Ponzi schemes, matrix programmes or other “get rich quick” schemes or high yield investment programmes, goods or services that infringe the intellectual property rights of a third party, or un-coded/miscoded gaming. YAP reserves the right, in its sole discretion, to add categories of prohibited transactions by adding such categories either to these Terms of Use or by notifying them to the customer in accordance with these Terms of Use.
2. It is strictly forbidden to use your YAP Account for any illegal purposes including but not limited to fraud and money laundering and may require the customer to submit evidence of the source of funds being used to load their YAP Account. We will report any suspicious activity to the relevant law enforcement agencies as required by Applicable Law.
3. It is the customers, and not YAPs responsibility, to ensure that only the customer uses the Payment Services in compliance with Applicable Laws. The mere fact that a person or entity accepts payments through the Payment Services is not an indication of the legality of the supply or provision of their goods and services or of the underlying transaction. If the customer is in doubt as to the legality of a supply or purchase or the underlying transaction, the customer should not continue with their payment.
XI. Limits
1. The customers YAP Account is subject to load, payment, and withdrawal limits. These limits are adjusted dynamically and depend on the customers verification status, requirements under Applicable Laws, and other variety of factors determined at YAPs sole discretion. The customer can view their limits at any time in their profile on the YAP Platform. Before loading any funds into their YAP Account or availing any Payment Services, the customer must ensure that the customer does not exceed the aforementioned limits.
XII. Partner Institutions
1. YAP relies on its Partner Institutions, who may be regulated entities, to provide the Payment Services.
2. The customer must agree and acknowledge that a contractual relationship exists between the customer and the Partner Institution with whom the customer maintains a Linked Account or whose Load Method / Withdrawal Method the customer utilizes (“Relationship”). It is the customers responsibility to familiarize him/herself with the terms and conditions governing such a Relationship and any feature, condition, limit, charges arising from the same which can impact the customers use of the Payment Services.
XIII. Communication
1. YAP usually messages the customer through in-app notifications (which will require the customer to ensure that their Device is connected to the internet) and SMS. The customer may opt for YAP to message the customer via email. The customer is required to check for incoming messages regularly and frequently, in any case at least once compulsorily in a twenty-eight (28) days period. Such messages may contain links to further communication on our YAP Platform. Any communication sent by in-app notification will be deemed received by the customer on the same day if it is delivered to their in-app notification area on the YAP Platform. Any communication sent by SMS or email is deemed to be received as recorded on YAPs servers or the servers of any service provider YAP engages for such communication services.
2. Where YAP is required to provide information to the customer on a durable medium, YAP will either send the customer an attachment with the message or send the customer a notification pointing you to information on the YAP Platform in a way that enables the customer to retain the information in print format or other format that can be retained by the customer permanently for future reference. We recommend the customer to keep copies of all communications YAP sendsor makes available to the customer.
3. The customer can access a copy of the current Terms of Use, Additional T&Cs, Policies, or any other contractual document relevant to the customer within the YAP Platform and by contacting YAPs Customer Service.
4. YAP will never send the customer any messages with executable files attached or with links to any executable files. If the customer receives any message with such attachments, the customer should delete the message without clicking on the attachment. If the customer is unsure whether a communication is originating from YAP, please validate by contacting Customer Service.
5. As a default, the customer will receive in-app notifications or e-mails (if applicable) that will inform the customer about new Services and features, events, promotions, exclusive deals etc. By accepting these Terms of Use, the customer agrees to receive such communication on a regular basis. If the customer does not wish to be notified of any of the aforementioned communication, the customer can disable the notification by changing the appropriate setting on the YAP Platform.
6. Except as otherwise provided elsewhere, any communication required from the customer under these Terms of Use may be routed to YAP through Customer Service using the following means:
- i. Email YAPs customer support
- ii. Call YAPs Customer Service numbers
- iii. Contact form on the YAP website
- iv. Through the YAP in chat App Platform
XIV. Customer Complaints and Disputes
1.Any complaints about us or the Services we provide should be addressed to us in the first instance by contacting Customer Service. You should clearly indicate that you wish to make a complaint to or file a dispute with us. This helps us to distinguish complaints and disputes from mere queries. We send you a complaint or dispute filing acknowledgement within 48 hours of receiving your complaint or dispute in accordance with our Complaints and Disputes Handling Mechanism. You may access a copy of our Complaints and Disputes Handling Mechanism at any time from the YAP Platform or by contacting Customer Service.
XV. Breach of Terms and Conditions
YAP may terminate the customers access to YAP, if the customer breaches any terms of this agreement and fails to rectify if notified. YAP may do this without detracting from YAPs right to take any other steps available to YAP at law or under this Agreement, including the right to obtain an interdict.
The customer must acknowledge and agree that YAP shall have the right of set-off and lien or charge, present as well as future, on the deposits held in the eligible Accounts, whether in single name or joint name, to the extent of all outstanding amounts due from the customer, including without limitation fees, charges, costs, expenses and indemnity payments payable by the customer to YAP, pursuant to these Terms and Conditions (as may be amended from time to time) or otherwise arising as a result the Services extended to and/or used by the customer.
XVI. Operating Times, Changes and Disruptions
YAP shall take reasonably practicable steps to have the Service be available for use. The customer accepts, however, that routine maintenance requirements, over burden on the systems and circumstances beyond YAPs control may mean it is not always possible for the service to be available during its normal operating hours.
In connection with the Service, YAP is entitled at any time to:
- change the mode of operation; or
- add to, remove, or otherwise change, end, or suspend any of the facilities available; or
- end of the service
YAP will not be responsible if the customer is unable to gain access and/or use Services due to reasons beyond YAP’s control, including with limitation, any computer, telecommunication, electrical, technical or network failure or malfunction and routine maintenance/update requirements.
XVII. Our Advertising/Promotions
YAP will update its website for promotions for their customers from time to time. It is the Customer’s responsibility to check the social media presence of YAP electronic banking, to learn about the latest offerings and promotions of YAP. YAP shall not be responsible if the Customer loses out on a promotion opportunity for any reason, including not checking the latest updates posted on YAP’s social media channels.
XVIII. Confidentiality
YAP will not sell, share, or rent the customers personal information to any third party or use the customers e-mail address for unsolicited mail. Any emails sent by YAP will only be in connection with the provision of agreed services and products.
XIX. Availability
Unless otherwise stated, the services featured on the app are only available within Pakistan. All advertising is solely intended for the Pakistani market. The customer is solely responsible for evaluating the use of this website. Redistribution or republication of any part of this app or content is prohibited, including such by framing or other similar or any other means, without the express written consent of YAP. YAP does not warrant that the service from this site will be uninterrupted, timely or error free, although it will provide its services to the best of its ability. By using YAPs services, the customer thereby indemnifies YAP, its employees, agents and affiliates against any loss or damage, in whatever manner, howsoever caused.