TERMS AND CONDITIONS FOR CUSTOMER

1. INTRODUCTION
   1. These Terms & Conditions (“Terms”) govern your use of DuePay’s mobile app, website, Wallet and QR payment services (“Services”).
   2. The Services are provided by DuePay Limited (“DuePay”, “we”, “us”, “our”), incorporated in New Zealand.
   3. By creating an account or using the Services, you agree to be legally bound by these Terms. If you do not agree, you must not use the Services.
2. DEFINITIONS
   1. “Wallet” means your DuePay digital stored-value account.
   2. “User” means any individual or merchant who registers for or uses the Services.
   3. “Merchant” means a business approved to accept DuePay payments.
   4. “Trust Account” means the segregated bank account where customer funds are held.
   5. “Open Banking Provider” means an authorised third-party provider that securely connects your bank account to DuePay (for example, Akahu).
3. ELIGIBILITY
   1. You must be at least 13 years old to use the Services.
   2. You must provide accurate and complete information during registration.
   3. We may refuse registration or suspend accounts at our discretion, including for compliance or risk reasons.
4. ACCOUNT REGISTRATION & SECURITY
   1. You are responsible for maintaining the confidentiality of your login credentials.
   2. You must notify us immediately if you suspect unauthorised access.
   3. We may require multi-factor authentication for security purposes.
5. WALLET SERVICES & TRUST SAFEGUARDING
   1. Your Wallet allows you to store value, make QR payments, receive payments, and withdraw funds.
   2. All customer funds are held in a segregated “Bare Trust Account” with a New Zealand registered bank.
   3. DuePay is not a registered bank. Funds stored in a Wallet are not bank deposits and do not earn interest.
   4. We may impose limits on transaction values, balances, or withdrawals for compliance and risk management purposes.
   5. Please refer to Wallet Trust Safeguarding for more details.
6. AML/CFT & REGULATORY OBLIGATIONS
   1. We comply with the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
   2. We may verify identity, monitor transactions, freeze funds, delay transactions, or report suspicious activity to the Department of Internal Affairs (DIA) or other authorities.
   3. We may use third party service provier(s) to verify your identity (KYC).
   4. We may request additional documentation at any time to satisfy compliance obligations.
7. PAYMENTS & AUTHORISATION
   1. Transactions are authorised when you confirm a payment using your wallet and PIN.
   2. You are responsible for verifying payment details before confirming.
   3. We are not responsible for errors caused by incorrect recipient details entered by you.
   4. Refunds are subject to merchant approval unless required by law.
8. OPEN BANKING & BANK CONNECTIVITY
   1. If you connect your bank account via an Open Banking Provider, you provide consent for access to authorised data.
   2. DuePay does not store your internet banking password.
   3. DuePay uses enduring consent open banking API that establishes the connectivity between your Bank account and DuePay wallet. 
   4. You may revoke bank connectivity consent at any time, but this may affect Wallet functionality.
   5. We are not responsible for outages or errors caused by third-party banking providers.
9. FEES
   1. We may charge fees for certain Services. Applicable fees will be disclosed within the app or website.
   2. We may update fees by providing reasonable notice.
   3. Merchant fee arrangements are governed by separate merchant agreements.
10. LIMITATION OF LIABILITY
    1. To the maximum extent permitted by law, DuePay excludes all liability for:
       

       (a) Indirect, consequential or incidental loss;

       (b) Loss of profits, revenue, business or opportunity;

       (c) Loss arising from system outages, third-party failures, or banking partner interruptions.

    2. Our total aggregate liability to you (whether in contract, tort, negligence or otherwise) is limited to the total amount of fees paid by you to DuePay in the preceding 12 months, or the balance held in your Wallet at the time of the event giving rise to the claim (whichever is lower).
    3. Nothing in these Terms limits rights you may have under the Consumer Guarantees Act 1993 (where applicable).
11. INDEMNITY
    1. You agree to indemnify and hold harmless DuePay, its directors, employees and affiliates from and against any claims, losses, damages, penalties, fines or costs arising from:
       

       (a) Your breach of these Terms;

       (b) Your misuse of the Services;

       (c) Fraudulent, unlawful or negligent acts committed by you;

       (d) Disputes between you and a Merchant.

    2. This indemnity survives termination of your account.
12. PROHIBITED USE
    1. You must not use DuePay for unlawful activities, including fraud, money laundering, terrorism financing, or scams.
    2. You must not attempt to interfere with the security or integrity of the Services.
    3. Overload, flood, or spam any part of the Service;
    4. Scan or test the vulnerability of any DuePay infrastructure without express prior written permission from DuePay.
    5. We may suspend or terminate accounts for suspected misuse.
13. INTELLECTUAL PROPERTY
    1. All content, branding, software and technology associated with DuePay remain our property.
    2. You may not copy, modify, distribute or reverse engineer any part of the Services without our written consent.
14. PRIVACY
    1. Our collection and use of Personal Information is governed by our Privacy Policy.
    2. By using the Services, you consent to the handling of your information in accordance with that Policy.
15. TERMINATION
    1. We may suspend or terminate your account for breach, regulatory direction, fraud risk, or misuse.
    2. Upon termination, remaining funds will be returned to your verified bank account subject to compliance checks.
16. CHANGES TO THESE TERMS
    1. We may update these Terms from time to time.
    2. Where changes are material, we will provide reasonable notice via email, website notice or in-app notification.
    3. Continued use of the Services after the effective date constitutes acceptance of the updated Terms.
17. GOVERNING LAW
    1. These Terms are governed by the laws of New Zealand.
    2. Any disputes will be subject to the exclusive jurisdiction of the New Zealand courts.
18. DISPUTE RESOLUTION

DuePay is a member of the Financial Dispute Resolution Service (FDRS), an approved dispute resolution scheme under the Financial Service Providers (Registration and Dispute Resolution) Act 2008. If you have a complaint that we have been unable to resolve, you may refer it to FDRS free of charge.

FDRS Membership ID: FM6967
FDRS Contact: 📞 0508 337 337 | 🌐 www.fdrs.org.nz