MyPay Coins Terms And Conditions
PRELIMINARY
- "MyPay Coins" is a feature introduced by Smart Card Nepal Private Limited (MyPay) on its different platforms.
- The following terms ("Terms") are part of and subject to the terms of use, privacy policy and other relevant documentation including any modifications, alterations or updates thereof, that are published on the Platform.
What is MyPay Coin?
MyPay Coins is first of its kind rewards system as part of MyPay Loyalty Program that can be used to pay utilities and purchase commodities as well.
Earning MyPay Coins
Users will earn MyPay Coin on transactions performed on MyPay App. Coins will be credited at predefined rate. This rate may change at the discretion of MyPay with or without any public notice.
Using MyPay Coins
MyPay Coins can be used for bill payments through its platforms. These coins can be used in defined proportion of bill amount. This usage proportion may change at the discretion of MyPay with or without any public notice.
Expiry of MyPay Coins
MyPay Coins earned till end of each quarter (Bikram Sambat) will expire on end of following month.
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Coins Accumulated till
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Expire on
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Remarks
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Asadh End
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Shrawan End
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Remaining accumulated coins till quarter end must be utilized till next month end to prevent expiry.
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Ashoj End
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Kartik End
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Poush End
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Magh End
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Chaitra End
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Baisakh End
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Other Conditions:
- MyPay Coins can be earned by every individual. However, to redeem same, user must be KYC verified.
- MyPay coins are non-transferrable. Any wrongful transfer of MyPay Coins shall be void ab initio.
- MyPay Coins cannot be converted to cash under any circumstance.
- MyPay reserves right to set rate of earning and usage of MyPay coin percentages for different transactions.
- MyPay Coins does not have any monetary value and customer will not be eligible for any monetary compensation in lieu of settlement against MyPay Coins or in case of loss of MyPay Coins.
OTHER TERMS AND CONDITIONS
- These Terms are subject to change, at the sole discretion of MyPay, from time to time.
- MyPay reserves the right to disqualify you from earning any MyPay Coin if any fraudulent/abuse/ reseller/affiliates activity is identified as being carried out for the purpose of earning MyPay Coins or if You have violated any Terms or applicable laws. Disqualification may result in immediate cancellation of all MyPay Coins.
- MyPay disclaims all liability that may arise due to any violation of the applicable laws by You.
- MyPay reserves the right to suspend the issue of MyPay Coins to you personally, or to all users temporarily or permanently at any time without notice.
- In case of any dispute or difference arising concerning MyPay Coins or any alleged defect or deficiency of service availed, the decision of MyPay shall be final and binding.
- MyPay reserves the right at any time to modify, withdraw or terminate ‘MyPay Coins’ as a feature on the Platform at its discretion, without any prior notice and without any liability or obligation in this regard.
- You hereby agree to indemnify and keep MyPay harmless against all damages, liabilities, costs, expenses, claims, suits and proceedings (including reasonable attorney's fee) that may be suffered by MyPay as a consequence of (i) violation of terms of this T&C by You; (ii) violation of applicable laws; (iii) any action or inaction resulting in willful misconduct or negligence on Your part.
