Stored Value Service - Terms of Service

November, 2015

Consumer Advisory – Alipay Singapore E-Commerce Private Limited, the holder of the Alipay Account stored value facility, does not require the approval of the Monetary Authority of Singapore. Consumers (users) are advised to read the terms and conditions carefully.

These terms of service (“Terms of Service”) set forth the terms and conditions of your access to and use of the Alipay virtual account service (“Alipay Account”). By accepting and using this Alipay Account service, you agree to be bound by these Terms of Service, which forms an integral part of the Alipay Account Service Agreement. THESE TERMS OF SERVICE SHALL BE READ WITH THE ALIPAY ACCOUNT SERVICE AGREEMENT AND ALIPAY PRIVACY Notice (collectively, “Alipay Terms”). If any matter is not expressly provided for in these Terms of Service but is provided for in the Alipay Terms, the provisions of the Alipay Terms shall apply and prevail. To the limited extent that there is any irreconcilable conflict between the specific provisions of these Terms of Service and the provisions of Alipay Terms, the specific provisions of these Terms of Service shall prevail. Unless otherwise expressly provided herein, the capitalized terms shall have the same meanings as set forth in the Alipay Account Service Agreement.

1. Definition

The Alipay Account is intended for effecting payment for the purchase of goods through www.alibaba.com and www.aliexpress.com (collectively, “Alibaba.com Sites”). The Alipay Account service is not available to any transactions not concluded on or through the Alibaba.com Sites.

2. Alipay Account Stored Value Services

  1. 2.1 You may maintain funds in your Alipay Account, and such funds will be regarded as the Stored Value of your Alipay Account (“Stored Value”). Stored Value can be accumulated in your Alipay Account by means of (a) a transfer of funds from certain payment instruments (including debit cards, checking and savings account or other prepaid payment method, collectively, “Payment Instruments”); and (b) a credit issued to you in accordance with these Terms of Service.
  2. 2.2 For any funding from a Payment Instrument to your Alipay Account, we make no representation that any of your Payment Instrument(s) are in good standing, or that the issuer of your Payment Instruments will authorize or approve such transfer.
  3. 2.3 We may require that you submit identification documents (“KYC Documentation”) prior to you making a purchase. The maximum amount you can load on your Stored Value at any point of time shall not exceed US$650 and the maximum amount you can send to a single merchant on Alibaba.com Sites to make purchases shall not exceed US$650.
  4. 2.4 Alipay reserves the right to impose different limits on your use of Alipay Account from time to time, including but not limited to (i) the amount of value you may load your Alipay Account at any one time; (ii) the aggregate funds loaded to your Alipay Account; and (iii) the maximum amount you can send to a merchant on Alibaba.com Sites to make a purchase.
  5. 2.5 You will not receive any interest on your Stored Value.

3. Using Your Account

  1. 3.1 You may use the Stored Value with your Alipay Account to purchase goods through Alibaba.com Sites. For security reasons, we may limit the amount or number of transactions you can make through the Stored Value with your Alipay Account.
  2. 3.2 Each time you use the Stored Value with your Alipay Account, you authorize us to reduce the value available in your Alipay Account by the amount of the transaction and any applicable fees. You can only make payment using the Stored Value to the extent that you have enough balance to support those transactions. You are not allowed to make a purchase in excess of such balance. We will not extend credit in connection with your use of the Stored Value with your Alipay Account.
  3. 3.3 You are responsible for all transactions initiated and fees incurred by use of the Stored Value with your Alipay Account. If other persons access your Alipay Account, we will treat this as if you have authorized such use and you will be responsible for any transactions and fees incurred by such use. You must notify us immediately of any unauthorized use of Alipay Account or any other breach of security regarding the Alipay Account of which you have knowledge.
  4. 3.4 We are not responsible for the quality, safety, legality or any other aspect of goods or services you purchase with your Alipay Account.
  5. 3.5 Subject to clause 4, no redemption of cash, transfer of funds or cash withdrawal is permitted in respect of unspent amounts on your Alipay Account.

4. Refunds

If, having purchased goods or services using your Alipay Account, you are subsequently entitled to a refund for any reason in respect of such goods or services obtained with your Alipay Account, subject to certain conditions prescribed by Alipay, you may elect to either (i) accept credits to your Alipay Account Balance for such refunds; or (ii) receive the refund from your Payment Instrument under your Payment Instruments issuer agreement and/or applicable laws.

5. Anti-Money Laundering and Anti Terror Financing Policy

  1. 5.1 You are required to keep your accounts and contact information current at all times. Any account found to contain incorrect and/or outdated information will be suspended.
  2. 5.2 It is the policy of Alipay to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the financing of terrorist or criminal activities. Alipay is committed to anti money laundering compliance in accordance with applicable law and requires its directors, officers and employees to adhere to these standards in preventing the use of its products and services for money laundering purposes.

6. Restricted Activities

  1. 6.1 In connection with your use of the Alipay Account service, you should not:

    a) Provide false, inaccurate or misleading information;

    b) Use Alipay Account for any illegal activities, including online gambling, regardless of whether online gambling is permitted in the jurisdiction in which you are located;

    c) Use Alipay Account in a manner that may result in complaints, disputes, claims, penalties or other liability to Alipay, other users or third parties or may be regarded as an abuse of the card system or a violation of card association or network rules;

    d) Breach these Terms of Service, Alipay Account Service Agreement and Alipay Privacy Notice or violate any applicable laws and regulations.

  2. 6.2 If we, in our sole discretion, believe that you may have engaged in the above restricted activities, we may take various actions, including but are not limited to the following:

    a) We may suspend or restrict your access to the Alipay Account service;

    b) We may terminate these Terms of Service and refuse to provide the Alipay Account service to you;

    c) We may place a hold on your Alipay Account Balance if reasonably needed to protect against the risk of liability;

    d) We may take legal action against you.

  3. 6.2.1 Subject to any applicable laws and regulations, in the event that we discontinue providing the Alipay Account service to you by reason of your breach of any applicable laws and regulations, these terms of service, Alipay Account Service Agreement or Alipay Privacy Notice, we will credit your Payment Instrument last used to load your Alipay Account, with your remaining Alipay Account Balance. Alipay reserves the right to charge an administrative fee for such refund.

7. Limitation of Liability

We will not be liable for the following reasons if a payment transaction is not completed or contains any wrong amount in respect of the transfer:

  1. a) you do not have enough credit available in your Alipay Account Balance to make a purchase;
  2. b) If your Alipay Account has been compromised, or if we have reason to believe that your Alipay Account has been compromised;
  3. c) If the transaction information supplied by you or a third party is incorrect or untimely;
  4. d) If circumstances beyond our control (such as a flood or fire) prevent a transaction.

8. Inactive Alipay Accounts

If you have not transacted on your Alipay Account for a consecutive 12-month period, your Alipay Account is deemed inactive and an administrative charge, subject to certain terms and conditions, may be charged against the remaining amount in your Alipay Account Balance, until (a) such time that you make a transaction; or (b) your Alipay Account will be terminated by us once there are insufficient funds to pay the administrative charges.

9. Amendments

We may amend these Terms of Service any time by posting an updated version at www.alipay.com (“Alipay Site”). The updated version of these Terms of Service shall take effect immediately upon posting. Each time you use the Alipay Account service you confirm that you agree to be bound these Terms of Service as may be amended from time to time.

10. Jurisdiction and Choice of Law

This Agreement shall be interpreted, construed and enforced in all respects in accordance with the laws of the Republic of Singapore. You irrevocably consent to the exclusive jurisdiction of the courts of the Republic of Singapore, in connection with any action to enforce the provisions of this Agreement, to recover damages or other relief for breach or default under this Agreement, or otherwise arising under or by reason of this Agreement.