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Key Fact Statement

Key Fact Statement

عربي

KFS Pay10 UAE App

With Pay10 UAE App, you can easily send, receive, and make payments to participating merchants and other Pay10 users anytime, anywhere, using your mobile device.

Introduction

Product NamePay10 UAE App
TypeDigital Payment Solution
Supported CurrencyUnited Arab Dirhams (AED)
Eligibility
  • UAE residents aged 18 years and above
  • Valid Emirates ID
  • Valid UAE mobile number
 

Note: Users must provide accurate and complete information during account registration and KYC verification.

Key Features
  • Digital wallet for secure online and offline payments
  • QR code-based payments (Scan & Pay)
  • Bank account linking for easy top-ups & withdrawals
  • Peer-to-peer money transfers
  • Merchant Payments
  • Bill payments and utility recharges
Account Opening
  • Free account opening
  • KYC verification required through Emirates ID
  • Additional documents may be required as per regulatory guidelines
Fee and Charges
  • Please refer to the Schedule of Charges of our website www.pay10.ae
Transaction Limits
  • Maximum wallet balance: AED 25,000
  • Daily transaction limit: AED 10,000
  • Monthly transaction limit: AED 25,000
  • Limits may vary based on KYC level and regulatory requirements
 

Note: Pay10 reserves the right to modify wallet and transaction limits based on risk assessments or regulatory requirements.

Security Features
  • Two-factor authentication for all transactions
  • Biometric login (fingerprint/face recognition) where supported
  • Real-time transaction & fraud monitoring
  • Option to freeze & close/delete wallet account
 

Note :Users must notify Pay10 immediately if they suspect any unauthorized use of their account or credentials.

Customer Support
Complaints and Dispute Resolution
  • Complaints may be lodged through the support center or by email
  • Resolution timeframe: up to 2 business days for most issues
  • Escalation process available if not satisfied with the resolution

Important Notes

  • Funds in Pay10 UAE App are not interest-bearing
  • Pay10 is licensed and regulated by the Central Bank of the UAE.
  • Your consent is required for data sharing with third parties
  • You have the right to withdraw consent for data sharing at any time
  • Pay10 has the right to change the terms and conditions of the product, with a 60-day notice for any
  • This Key Facts Statement provides only indicative fees and charges. For the full and latest fees and charges, please refer to the website for the updated schedule of charges.
  • All fees are exclusive of VAT. Wherever applicable, VAT will be charged at prevailing rates in addition to the fee.
  • You can pause, cancel or update the Payment Initiation Permissions granted through AlTareq (Open Banking) at any time.
  • Pay10 disclaims liability for losses arising from unauthorized transactions caused by your failure to safeguard your credentials.
 

Warning

By using the Pay10 UAE App, you acknowledge that:

  1. Your account may be suspended if you fail to provide the required documentation or if the information provided is inaccurate or
  2. Pay10 may share your information with regulatory authorities in compliance with applicable laws and
  3. You are responsible for the confidentiality of your account information and for all transactions made through your account, you must keep your Pay10 wallet credentials safe and confidential at all times.
  4. If you see a transaction on your account that you do not recognize, or you think may be incorrect, you must contact us immediately via the call center or our website.
  5. You acknowledge that Pay10 will not be liable for any losses due to unauthorized use of your wallet if such unauthorized use results from your failure to keep credentials confidential.
 
For full details, please refer to our Terms and Conditions available at https://pay10.ae/terms-of-service-2/
 
Please note that this KFS will be updated from time to time as per mandate from Central Bank of the UAE. 

KFS Pay10 Biz UAE App

With Pay10 Biz UAE App, you can easily accept and track payments from Pay10 Customers, issue transaction refunds anytime, anywhere, using a mobile device.

Product Name Pay10 Biz UAE App
Type Digital Payment Acceptance Solution
Supported Currency United Arab Dirhams (AED)
Eligibility
  • UAE-based Businesses with registered Trade License
  • UAE mobile number
Key Features
  • Digital onboarding
  • Digital wallet to accept secure online payment.
  • QR code-based payment acceptance (Scan & Pay)
  • Same day settlement
  • Real time balance updates
  • Payment acceptance history
  • Refunds
  • Fund withdrawals
Required Documents for Account Opening
  • Free account opening
  • KYC and KYB verification are required.
  • Trade License verification, and Emirates ID verification of Business owner / POA and Shareholders and MOA/AOA to support the company structure.
  • Additional documents may be required as per regulatory guidelines and business type such as:
  • Valid document which has company structure. (Eg: Share certificate/Register of directors/Shareholder
  • Certificate of Incumbency
  • Emirates ID copy of shareholders/POA/UBO)
  • Passport copy of shareholders/POA/UBO)
  • Business address Proof of company
  • POA Documentation
  • Board/Shareholder Resolution
Fee and Charges
  • Please refer to the Schedule of Charges of our website www.pay10.ae
Wallet Limits
  • Maximum wallet balance: AED 50,000 – 100,000
  • Daily transaction limit: AED 50,000 – 100,000
  • Monthly transaction limit: AED 50,000 – 100,000
  • Limits may vary based on merchant business type and regulatory requirements
Security Features
  • Biometric login (fingerprint/face recognition) where supported
  • Login with PIN number
  • Real-time transactions & fraud monitoring
  • Reset password
Merchant Support
Complaints and Dispute Resolution

Important Notes

  • Funds in Pay10 Biz UAE App are not interest-bearing
  • Pay10 is regulated by the Central Bank of UAE
  • Your consent is required for data sharing with third parties
  • You have the right to withdraw consent for data sharing at any time
  • Pay10 has the right to change the terms and conditions of the product, with a 60-day notice for any changes in fees or
  • This Key Facts Statement provides only indicative fees and charges. For the full and latest fees and charges, please refer to the website for the updated schedule of charges.
  • All fees are exclusive of Wherever applicable; VAT will be charged at the prevailing rates in addition to the fee.

 

Warning

By using the Pay10 Biz UAE App, you acknowledge that:

  1. Your account may be suspended if you fail to provide the required documentation or if the information provided is inaccurate or incomplete.
  2. Pay10 may share your information with regulatory authorities in compliance with applicable laws and regulations.
  3. You are responsible for the confidentiality of your account information and for all actions conducted through your account, you must always ensure your Pay10 Biz UAE App credentials are safe and confidential.
  4. If you see a transaction/withdrawal or Refund on your account that you do not recognize, or you think may be incorrect, you must contact us immediately via the call center or our website.
  5. Refunds for the full transaction value are available through the  Pay10 Biz UAE App to assist merchants in processing returns or addressing customer claims. Pay10 bears no liability for any misuse of this feature by business employees or authorized users of the  Pay10 Biz UAE App.
 

For full details, please refer to our Terms and Conditions available at https://pay10.ae/terms-of-service-2/

Please note that this KFS will be updated from time to time as per mandate from Central Bank of the UAE.