User Service Agreement
This agreement is entered into between WendaqiPay and the User as follows:
Notice:
I. Before using WendaqiPay, please be sure to read and fully understand this statement, the WendaqiPay User Registration and Information Service Agreement and any related agreements and business rules that WendaqiPay may publish from time to time in connection with its services (collectively, the “Service Agreement” or the “Agreement”). Please pay particular attention to the terms and conditions that exclude and limit the liability of WendaqiPay, as well as the terms and conditions that limit the rights of users. Please read this Service Agreement carefully and choose whether to accept it or not. You must accept, unconditionally, fully and without modification, the terms and conditions contained in this Service Agreement and comply with the relevant laws and regulations, and rules regarding WendaqiPay before you can proceed with the registration process. If you do not agree with any of the contents of this Service Agreement, please do not register or use WendaqiPay’s user services. You sign this Service Agreement that is, you agree to have reached an agreement with WendaqiPay, and voluntarily accept the terms of this Service Agreement; thereafter, you may not claim that you have not read the contents of the terms of service or deny the validity of the terms of service as not sign a written agreement. You hereby agree to fully accept and fulfill any legal documents signed in electronic or paper form with partner organisations of WendaqiPay, and undertake to enjoy and/or waive the corresponding rights, and assume and/or exempt the corresponding obligations stipulated in these legal documents.
II. Only after successfully registering as a user of WendaqiPay, you can use the services provided by WendaqiPay.
III. The content of this Service Agreement also includes the relevant agreements and business rules related to its services that may be published by WendaqiPay from time to time. Once the aforementioned contents are officially released, they will constitute an integral part of the Service Agreement and you should also comply with them. WendaqiPay reserves the right to amend the content of this Service Agreement from time to time, and the latest content of the Agreement will be published on the official website and application of WendaqiPay or notified through agreed manner. If you continue to use the service after any modification or change of the terms of this agreement, you will be deemed to be aware of and agree to accept these modifications or changes; if you do not agree with these modifications or changes, you should immediately and voluntarily stop using the service. The revised Agreement shall be effective immediately upon notice.
IV. By using the website/services of WendaqiPay, the User is deemed to have agreed to fulfil this Service Agreement with WendaqiPay. In the event of a dispute, the User may determine the subject of performance and the disputing party based on the specific service used and the specific matters affecting the User’s rights.
V. The services provided in this Agreement are limited to the scope of user registration and information services; in addition to the provision of information services, WendaqiPay does not provide any substantive transactions that you need to carry out with third-party organizations. This Agreement also does not cover the legal relationship and legal disputes between you and other users/third-party organizations of WendaqiPay arising from online transactions.
VI. Nothing in this Agreement and nothing provided on the website, application or platform by the Company shall constitute or be construed as, or be relied upon as, a recommendation or endorsement of, or an invitation or solicitation to enter into any transaction or purchase of any virtual assets or any securities, interests in funds, unit trusts or collective investment schemes or other similar arrangements or any other investment products or services of whatever nature or description or any related activity or service. The User further understands that neither the Company, its affiliates nor any third party service providers are advising you as to the nature, potential, value, risk or suitability of any particular product or service, transaction, investment strategy or any other matter, and that any information made available to you through WendaqiPay or the website is not tailored to the needs of any particular person. You understand that there are certain risks associated with acquiring any virtual assets and that the information, data, materials and content published on the website, the application or the platform may not contain or be accompanied by a list or description of the relevant risk factors and that the risk disclosures contained in any of this Agreement or elsewhere are not intended to be, and should not be regarded as, exhaustive or relied upon. Any information contained in this Agreement may not be the most up-to-date. In addition, the User acknowledges that, otherwise expressly stated in this Service Agreement, neither the Company nor its affiliates make any representations, warranties or undertakings as to the accuracy or completeness of the information provided. Any reliance the User places on such information is at your own risk, for which neither the Company nor its affiliates shall be liable.
1. Definitions
Unless otherwise indicated or required by context, terms used in this Agreement shall have the following meanings:
1.1 WendaqiPay Alliance: refers to the service alliance initiated by the Company, which connects licensed financial institutions through relevant workflows and data, and provides high-quality financial services to the User under the unified “WendaqiPay” brand.
1.2. WendaqiPay: means the website or mobile internet application operated by the Company to provide users with information services related to WendaqiPay affiliate services, digital asset custody and/or payment services.
1.3. Affiliate: refers to licensed financial institutions through WendaqiPay as qualified subjects to provide financial services to users. These institutions will provide users with services including but not limited to payment services, virtual account services, virtual asset services (including collection, payment and exchange services).
1.4. WendaqiPay Account: means the exclusive account registered by the User on WendaqiPay in accordance with this Agreement.
1.5. Integrated Account: means one or more bank, digital and/or integrated account opened and maintained by the User through WendaqiPay in accordance with the account opening application form or service agreement of the Affiliate with the appropriate banking, digital finance service and/or integrated finance service qualifications.
1.6. Digital Asset Account: means one or more bank, digital and/or integrated account opened and maintained by the User through WendaqiPay in accordance with the account opening application form or service agreement of the Affiliate with the corresponding digital asset service qualification.
1.7. Virtual Account: means one or more virtual accounts opened and maintained by the User through WendaqiPay in accordance with the account opening application form or service agreement of the Affiliate with the corresponding payment service qualification.
1.8. Business Day: any day other than Saturday, Sunday, an official holiday or an official holiday of WendaqiPay or the Affiliate.
2. Services
The Services referred to in this Agreement are the comprehensive information services provided by WendaqiPay, including but not limited to:
2.1. Information services related to the effective registration, login and use of WendaqiPay account. The User has a personal right to use WendaqiPay for access purposes, provided that such rights are non-transferable and non-exclusive and that all other rights not expressly authorized in these Terms or elsewhere in this Agreement are reserved by WendaqiPay.
2.2. Assist the User in opening of integrated accounts, digital asset accounts and/or virtual accounts with the Affiliates and utilizing related information services.
2.3. Assist the User in performing top-ups, transfers and multi-currency exchanges with the Affiliates.
3. User constraints
3.1. The User must fulfil the following conditions:
For individuals:
I. Must have the full capacity for civil behaviour; and
II. Must be able to assume civil liability independently.
For legal entities:
A. Must be an organization or enterprise controlled by an individual who meets the above conditions.
B. Must have full and independent legal status and legal capacity to execute, deliver and perform this Agreement and to act independently as a litigant.
Signing and performance of the obligations by the User under this Agreement does not violate any relevant laws, regulations or governmental orders, and does not conflict with any contract or agreement by which it is bound. If the User does not meet the above conditions, it should immediately terminate the registration or stop using the services provided by WendaqiPay. WendaqiPay reserves the right to suspend or terminate the User’s qualifications.
3.2. When registering, the User shall provide up-to-date, true, legal and valid user information, including but not limited to name, organizational qualifications, identification document number, address, contact information, emergency contact information and so on, as required by WendaqiPay at the time of registration.
3.3. The User should be in accordance with the requirements of WendaqiPay, to perform real-name identity authentication, and to provide the latest, true, legitimate and effective user information. For individual users, including but not limited to WendaqiPay requirements of the name, ID number, etc.; for corporate users, including but not limited to WendaqiPay requirements of the enterprise name, registration number, source of funds, business license and other supporting documents. If there is a validity period for the User’s supporting documents, the User shall take the initiative to provide the renewal certificate or new supporting documents to WendaqiPay before the expiry date.
3.4. After receiving the information and materials provided by the User, WendaqiPay has the right to review the User’s qualifications in accordance with the payment business regulations, other relevant rules, and WendaqiPay’s internal business procedures, and decide whether to provide services to the User based on the results of the review. The review of WendaqiPay does not exempt or reduce the User’s obligation and responsibility to ensure the truthfulness, legality and validity of the information and materials.
3.5. WendaqiPay has the right to conduct various forms of investigation from time to time on the User’s qualifications, creditworthiness, business conditions, etc., and the User shall provide information, written explanations and other documents as required by WendaqiPay. WendaqiPay has the right to re-examine the User’s qualifications based on the results of the investigation, and the right to unilaterally adjust and/or suspend the services provided to the User, such as upon finding that the User’s qualifications are no longer in line with the access conditions of WendaqiPay, WendaqiPay has the right to terminate the Agreement in advance.
3.6. If there are any changes in user information, including but not limited to the legal registration name, the main business, business scope and other information changes, the User should contact WendaqiPay in a timely manner to handle the changes, and if the User does not do so in a timely manner, the User bears all the risks and responsibilities. WendaqiPay has the right to re-qualify the User depending on the User changes, the right to unilaterally adjust and/or suspend the services provided to the User, such as upon finding that the User’s changes in qualifications do not meet WendaqiPay access conditions, WendaqiPay has the right to terminate the Agreement in advance.
3.7. The User shall utilize the service of WendaqiPay in accordance with the applicable law and the relevant business qualifications on the scope of business, otherwise, WendaqiPay has the right to immediately suspend, discontinue or terminate the provision of services to the User under this Agreement. If there is a change in the User’s main business operations, WendaqiPay has the right to re-determine the service fees and negotiate with the User. If negotiation fails to reach an agreement, WendaqiPay has the right to terminate the Agreement.
3.8. The User shall properly manage and use the mobile phone number and email address in personal registration information, and any authentication, information interaction or other operations conducted by using the mobile phone number or email address shall be deemed to be the acts of the User or the User’s agent, and the User shall perform the obligations arising therefrom and bear the related responsibilities.
3.9. The User may not utilize other people’s information to register or use WendaqiPay; otherwise, the Company will pursue legal responsibility of the actual user.
3.10. Upon the User successfully registering through WendaqiPay, the User authorizes the Company to disclose their registration information to the affiliated websites/service supplier of WendaqiPay, and simultaneously, authorize the affiliated websites/services supplier to utilize such information for the purpose of providing services to the User.
3.11. All contents on the WendaqiPay website and online contents generated in the course of utilizing WendaqiPay services, including but not limited to works, images, documents, information, data, website structure, layout, and webpage design, are owned by the Company or other right holders in accordance with the law, including intellectual property rights such as trademarks, patents, copyrights, and trade secrets.
4. Electronic signatures
4.1. When the User accepts WendaqiPay service, the Company assists the User to use an electronic signature as proof of identity.
4.2. The User is obliged to carefully manage its WendaqiPay user account ID and electronic signatures, and are responsible for the confidentiality and security of their accounts. The Company shall not be liable for any unauthorized use of the User’s account that is not caused by WendaqiPay.
4.3. Any electronic contract signed by the User account ID of WendaqiPay and its electronic signature, whether signed by the User itself or others authorized by the User, shall represent the true meaning of the User’s expression, and the User shall bear full responsibility.
5. Protection and disclosure of user information
5.1 The User agrees that the Company may, in the course of its business operations, collect and store information about the User from WendaqiPay and/or its business partners in order to supplement the information collected by the Company itself. This includes, but is not limited to, data and information provided by the User (including, but not limited to, name, identification document number, mobile phone number, age, gender, occupation, date of birth, mailing address, educational background, income status, marital and family status, job information, income information, bank statement information, etc.,), as well as transaction records and use information collected from WendaqiPay by the Company. The purpose of collecting and storing the User’s information is to improve efficiency and quality of services provided to the User.
5.2 The User authorizes and agrees that the Company may use the User’s information in its business operations, including but not limited to:
5.2.1. Verify the identity and information of the User, including but not limited to, providing the User’s personal information, identification document information and mobile phone number to the relevant organizations to confirm the authenticity of the identity and information;
5.2.2. Display the relevant user information on WendaqiPay as needed to provide the Services;
5.2.3. Providing user information and the corresponding validation and processing analysis results to the partner organizations of WendaqiPay (limited to those organizations cooperating with the Company to provide service to the User), in order to reduce the frequency of the User providing information repeatedly, and to assist the partner organization in determining whether the User fulfills their criteria;
5.2.4. Evaluate, classify and research the user information manually or automatically;
5.2.5. Utilizing user information to improve the promotion of WendaqiPay;
5.2.6. Contacting the User with information provided by the User to convey business and management-related information;
5.2.7. To facilitate follow-up service and gift-giving, which the User authorizes and agrees that WendaqiPay may provide its contact information to the relevant partner organizations;
5.2.8. Cooperating with the authorized agencies in collecting evidential materials as required.
5.3. The User agrees that, in order to enhance the User experience, WendaqiPay may perform statistical analyses of the use of various product features as needed. These statistics typically include application usage time, page dwelling time, access counts, access paths, etc., and application error data may also be collected. Analyzing these statistics helps to improve the services provided by WendaqiPay.
5.4. The User agrees that, in order to verify the User’s identity and ensure login security, WendaqiPay may record and retain the basic information of the device used by the User, including but not limited to, the International Mobile Equipment Identity (IMEI), physical address of the network device, serial number, name, brand name, model number, and the operating system of the device, as well as the User’s geographic location, Wifi information, base station information, etc. This information will be utilized to uniquely identify the User, prevent malicious logins and protect the security of the User account.
5.5. In order to comply with applicable laws, and to facilitate the User’s query of relevant transaction status or history, WendaqiPay will retain the User information and other information generated by the User for using WendaqiPay services for no less than the minimum period required by applicable laws, and will strictly manage these information in accordance with the applicable laws and regulations.
5.6. In order to provide better services to the User, prevent transaction risks or determine the liability for defaulting, the User authorizes WendaqiPay to enquire the User’s relevant credit information from credit bureaus established in accordance with the law, including but not limited to, any credit scores, credit reports, physical address, email address and telephone number.
5.7. WendaqiPay has formulated strict rules for handling user information and necessary technical measures to protect the security of the User’s personal information and safeguard against any potential abuse of user information. Without the User’s express consent, or otherwise provided by laws and regulations or required by state judicial and administrative organs, WendaqiPay will not provide or disclose user information to any non-affiliated organizations.
5.8. For security and backup purposes, WendaqiPay may store the User’s information and data on the Company’s worldwide servers.
5.9. The Company may co-operate with third parties to provide services to the User. In this case, if the third party agrees to assume the same responsibility for the protection of the User’s personal information as WendaqiPay, the User agrees that the WendaqiPay has the right to share the User’s registration data and other personal information with such third party.
5.10. In order to receive more comprehensive services and products, the User agrees that WendaqiPay may share the User’s information related to relevant services within WendaqiPay Alliance.
5.11. In order to protect the legitimate rights and interests of the User or deal with disputes or controversies between the User and others, WendaqiPay will share relevant information with relevant organizations or counterparties.
5.12. In accordance with legal requirements and reasonable business practices, when the operating entity of WendaqiPay plans to merge with or be acquired by another company, and/or engage in other capital market activities (including but not limited to initial public offering, bond issuance, etc.), and/or in other cases where WendaqiPay is required to be subjected to the due diligence of other entities, the User agrees that WendaqiPay may provide the User’s information to the necessary entities, but will require these entities to sign corresponding confidentiality agreements and take reasonable measures to protect the User’s personal information.
5.13. The User agrees that if it authorizes a third party to query or collect information related to its WendaqiPay Account, WendaqiPay has the right, within the scope permitted by applicable laws and with the User’s authorization, to share part of the User’s account information with the third party.
5.14. The User authorizes and agrees that, under the provision that the data has been processed to the extent that it is extremely improbable to identify a specific individual and cannot be recovered, WendaqiPay has the right to analyze and commercially exploit the entire user database.
5.15. The User can log in to the WendaqiPay Account at any time to access and manage personal information under that account. If the User encounters any difficulty or has any questions, kindly contact WendaqiPay’s customer service.
5.16. If there are any changes to personal data, the User should update the information in a timely manner; otherwise, any risk and responsibility therefrom will be borne by the User.
5.17. In order to meet compliance requirements relating to Know-Your-Customer (KYC), Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), etc., the User agrees, upon request from the Affiliate which is servicing or will be servicing the User, to cooperate with WendaqiPay in submitting necessary information and documents to the Affiliate.
6. Limitation of liability
6.1 The User guarantees the legality and compliance of the source of funds utilized on WendaqiPay and confirms that the relevant formalities relating to the funds (such as foreign exchange control confirmation) have been completed. Any risk arising from the source of funds that does not comply with applicable laws and regulations shall be borne by the User.
6.2. With respect to the opening of integrated accounts, digital assets accounts and/or virtual accounts for the User, WendaqiPay provides information services only and the final review is carried out by the respective Affiliate. WendaqiPay is not responsible for the final review results.
6.3. In the course of using WendaqiPay Services, the User may come across relevant services provided by third parties (including, but not limited to, Affiliates) or WendaqiPay may provide links to third party websites or display various commercial advertisements or other types of commercial information. WendaqiPay is not responsible for examining or evaluating any such third-party materials or websites, or any other materials, products or services from third parties, and makes no warranties and assumes no liability in connection therewith.
6.4. In order to improve user experience and enhance the service content, WendaqiPay may periodically provide software update services (which may include software replacement, modification, functional enhancement, version upgrade, etc.,). In order to improve the User experience and safeguard the security and consistency of the service, WendaqiPay reserves the right to update the software of WendaqiPay at any time, or to change or limit the effect of certain functions of the software of WendaqiPay.
6.5. Any content created, copied, posted, transmitted or distributed by the User in the course of using WendaqiPay and its services – including, but not limited to, registration information, text, voice, images and related links sent, replied to or posted through WendaqiPay – shall not interfere with the normal operation of the services of WendaqiPay, or infringe upon the legitimate rights and interests of other users or any third party, and shall not publish, transmit, disseminate or store content including, but not limited to the following: content infringing of others’ rights of honour, portrait, intellectual property rights, trade secrets, etc.; matters prohibited by laws and administrative regulations; or other information that violates policies, public order or social morality. Any risk arising from violation of the foregoing shall be borne independently by the User.
6.6. Due to the inherent characteristics of internet services and changes in external legal and policy environments, the services provided by WendaqiPay may be temporarily interrupted, suspended for a short period of time or permanently terminated. WendaqiPay shall not be liable for any damages caused by unforeseen or unavoidable reasons.
6.7. WendaqiPay shall not be liable for any damages caused to the User by hackers, computer viruses or other causes attributable to the User, unless otherwise provided by applicable laws.
6.8. As some of the information services provided by WendaqiPay are from authorized affiliates, specific business and product services are provided by the affiliates. WendaqiPay does not participate in or assume the risks associated with the aforesaid specific businesses and products, nor does it provide any form of guarantee in this regard.
6.9. Any information, data and content provided by WendaqiPay is for presentation purposes only and does not make any express or implied commitment to any matter. The User should not regard any information provided by WendaqiPay as specific investment advice.
6.10. The User shall not engage in or assist others in illegal activities, such as cashing out, money-laundering, transaction splitting, fake transactions, fraud, sanctioned entities/jurisdictions and prohibited industries/businesses, and shall not have false applications, malicious closure (“running away”) and other serious riskful behaviours.
6.11. During any transaction process, WendaqiPay will endeavor to safeguard against the risk of transaction inauthenticity, fraud, theft, counterfeit transaction, user denial of the transaction, user refusal to pay, leakage of information on the User’s account or error, and promptly resolve the problems arising from the User’s services.
6.12. WendaqiPay has the right to set special daily and per-transaction limits according to the User’s merchant type, and has the right to set different risk-control strategies according to the type of the User’s classification (such as registered as an individual or an enterprise), and whether the currency belongs to a fiat currency or a virtual currency, so that the User shall conduct business within the scope of its business and the established limits.
6.13. WendaqiPay only accepts the transactions initiated by the User. Any behavior involving using others’ information falsely to conduct transactions or settlements on WendaqiPay will be deemed as fraud, and WendaqiPay has the right to take measures such as stopping settlements, revoking transaction instructions or freezing accounts.
6.14. The User shall not engage in funds settlement services or provide funds settlement to secondary merchants or their downstream merchants.
6.15. WendaqiPay, based on the risk monitoring and investigation results, may from time to time, to the User prompted with abnormal transactions, require the User, within the risk investigation and time limit specified by WendaqiPay on abnormal transactions, provide explanations regarding the authenticity and legality of the related transaction, and where applicable and/or when necessary, require the User to provide relevant materials and documentation in support of the investigation process. Any losses resulting from the User’s failure to promptly and effectively handle risk alerts from WendaqiPay shall be borne by the User.
6.16. Based on the results of risk assessment, WendaqiPay may, from time to time, remind the User of potential risks and provide rectification and optimization suggestions, and the User shall cooperate with WendaqiPay to complete the rectification within the specified period. Any losses resulting from the User’s failure to cooperate with or effectively implement the rectification measures shall be borne by the User.
6.17. The liability of WendaqiPay to the User (if any) shall be limited to the service fees charged to the User within the past twelve (12) calendar months under this Agreement. For any losses, damages and compensation caused by the User or third parties, each claim raised by the User against WendaqiPay, based on contract, tort or other causes, is excluded by agreement of both parties.
7. Changes and termination of agreements
7.1. The Company reserves the right to unilaterally modify or change the contents of this Agreement as necessary, including the addition, reduction, modification or change of various rules. The latest Service Agreement and rules shall come into effect after announcement or notification. The User shall be deemed to have read, understood and agreed the modified agreement upon the User’s continued use of WendaqiPay after any modification or change to the terms of this Agreement. If the User does not agree, in part or in its entirety, the modified terms, it should immediately stop using WendaqiPay services related to the changes.
7.2. Both the User and the Company have the right to terminate this Agreement at any time, unless there are outstanding transactions between the User and Affiliates.
7.3. If the User discovers that a third party has stolen or misappropriated its account or password, or encounters any other unauthorized situation, the User shall immediately notify the Company through a valid manner and request to suspend the relevant services; otherwise, all responsibilities arising therefrom shall be borne by the User.
7.4. Termination of this Agreement shall not affect the rights and obligations accumulated by both parties prior to the termination in accordance with the terms of this Agreement; upon termination of this Agreement, both parties shall settle the outstanding amounts due under the terms of this Agreement.
8. Validity of this Agreement
8.1. If any provision of this Agreement is, for any reason, invalid or unenforceable, in whole or in part, it shall not affect the validity and enforceability of the remaining provisions of this Agreement.
9. Interpretation of agreements
9.1. The contents of this Agreement include, but are not limited to, the text of this Agreement and all types of rules that have been published or may be published in the future by WendaqiPay. All terms and rules are integral parts of this Agreement and have the same legal effect as the text of this Agreement.
9.2. The Company reserves final right to interpret this Agreement.
10. Communication
10.1. Any notices, requests, or communications related to this Agreement shall be delivered in writing through a manner agreed upon by both parties.
10.2. The User agrees that the email address in personal registration information is the authorized communication method. The customer service email published on the website of WendaqiPay is recognized as an authorized communication method of WendaqiPay.
10.3. Notifications or other communications sent via email shall be deemed to have been delivered at the moment they arrive at the recipient’s email inbox.
11. Costs and fees
11.1. The amount deposited by the User into the integrated account, digital asset account and/or virtual account shall be based on the actual available amount, and the Company shall not bear any remittance fee or admission fee arising from the User’s remittance.
11.2. The Company also has the right to charge the User a one-time fee and management fee based on criteria as service fees, and the final fee payable by the User will be charged based on the actual circumstances.
11.3. The User shall pay service fees to WendaqiPay as agreed. If there is a change in pricing of the payment service, WendaqiPay has the right to adjust the service fees standard and notify the User. If the User does not respond within five (5) business days from the date of notification by WendaqiPay, it shall be deemed that the User accepts the adjustment, and the new fee standard shall be implemented five (5) business days after the User receives the notification from WendaqiPay; if the User has objections, the User should stop using the relevant payment services and apply to the WendaqiPay for account closure, otherwise, the User is deemed to have no objection. If WendaqiPay launches promotional activities that offer the User discounts beyond the agreed rate, the discount rates shall only be valid during the promotional period, and WendaqiPay has the right to unilaterally terminate or adjust the discount rates based on the specific circumstances of the promotional activities.
11.4. Relevant to the service fees agreed upon by both parties to be deducted from the funds of any transactions, if WendaqiPay fails to deduct the full amount, it shall notify the User in a timely manner, and the User shall pay the relevant fees in accordance with the requirements specified by WendaqiPay.
11.5. If the User fails to pay any service fees, deposits or other amounts due to WendaqiPay, the User shall be liable for breach of contract, and WendaqiPay shall have the right to deduct the overdue fees and late penalty from the User’s trading funds, or suspend the settlement of trading funds and require the User to pay.