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Key Fact Statement

Key Fact Statement

KFS – Customer Wallet

With Pay10 Biz App, you can easily accept and track payments from Pay10 Customers, issue transaction refunds anytime, anywhere, using a mobile device.
Product Name
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
  • 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 Wallet are not interest-bearing
  • Pay10 is licensed and regulated by the Central Bank of the
  • 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
  • All fees are exclusive of
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
  • Pay10 disclaims liability for losses arising from unauthorized transactions caused by your failure to safeguard your
Warning By using the Pay10 Digital Wallet, 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
  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 http://www.pay10.ae/terms Please note that this KFS will be updated from time to time as per mandate from Central Bank.

KFS Bizz App

With Pay10 Biz App, you can easily accept and track payments from Pay10 Customers, issue transaction refunds anytime, anywhere, using a mobile device.
Product Name Pay10 Biz
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
  • 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 Wallet 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
  • 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 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 Biz App credentials safe and confidential.
  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 App credentials 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 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 App.
For full details, please refer to our Terms and Conditions available at http://www.pay10.ae/terms-service Please note that this KFS will be updated from time to time as per mandate from Central Bank.