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⁠KFS Bizz App

Key Facts Statement
Biz App

Table of Contents

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

  • 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

Customer 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 Bahrain as an Ancillary Service Provider.
  • 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 60-day notice for any changes.
  • 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.
  • Pay10 disclaims liability for losses arising from unauthorized transactions caused by your failure to safeguard your credentials.
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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 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 transactions made through your account, you must always keep your Pay10 wallet credentials safe and confidential.
  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 www.pay10.bh