Terms and Conditions for Tai Fung Pay Services

By accessing the service of the "Tai Fung Pay" Mobile App (hereinafter referred to as "Tai Fung Pay") provided by Tai Fung Bank Limited (hereinafter referred to as "the Bank"), the Customer indicates the consent to accept and comply with the specifications of the "General Terms and Conditions of Banking Services", "Terms and Conditions for Electronic Banking Services", "Terms and Conditions for Personal iBanking Services", “’Tai Fung Pay’ Services Statement”, "Disclaimer", "Copyright" and the following terms and conditions, and to be bound by them. In the event of any inconsistency between existing terms, this Terms of Service, and the above terms, the Terms of Service shall prevail. 

1. Definition and interpretation

(1) In these Terms and Conditions, unless the context otherwise requires:

QR code Payment --- means transactions of payment/collection conducted by scanning the QR code payment confirmation where the QR code image is generated by the Customer on the "Tai Fung Pay" or by the certified merchant or its mobile applications or other e-channels.

Quick Payment --- means the payment method activated by the Customer on “Tai Fung Pay” to be used on the websites, mobile apps or other e-channels of certified merchants connected to the Bank by applying ATM card number, Quick Payment password, SMS verification code through the Internet.

Frictionless Payment --- means where the Customer initiates an operation by “Tai Fung Pay” and agrees to bind bank accounts or UnionPay certified bank cards under his/her name with the Bank’s designated partner merchants (hereinafter referred to as "partner merchant") and application scenarios; the Customer authorizes the Bank to debit the payable fees directly from the bank accounts or bank cards bound to the Customer in accordance with the debit instructions submitted by the partner merchants, and authorizes the Bank to perform subsequent processing.

 2、Acceptance and Execution of Instructions

(1) The Bank shall no longer issue transaction notice after transactions. The Customer may check the transaction history on his/her own.

(2) The mobile phone number used by the Customer in the Mobile Number Fund Transfer of "Tai Fung Pay" to receive payment and/or the to activate quick payment (including but not limited to the Bank’s Quick Payment by Bank ATM Card, Quick Payment by Bank Account) is identical to the one bound to the SMS OTP version of "Personal iBanking Services" activated by the Customer. Disabling the SMS OTP version of "Personal iBanking Services" shall simultaneously cause the same to the Mobile Number Fund Transfer function and the unavailability of the quick payment functions activated previously.

(3) The Customer who conducts inter-bank transfer transactions with the Bank of China Macau Branch via "Tai Fung Pay" must acknowledge and confirm the following:

1. The transaction amount defined by the Customer shall be transferred in full to the account designated by the Customer at the Bank of China Macau Branch. If exchange is involved in the transaction, the two banks shall be responsible respectively and accordingly.

2. If the transaction information is received after its daily cut-off time, the Bank of China Macau Branch is entitled to treat the relevant transaction to be processed on the next working day.

(4) The Customer may perform the following transactions via "Tai Fung Pay" and agrees to be fully responsible for any losses, risks, and liabilities incurred thereby:

1. Transfers between any bank accounts, or inter-bank transfers between the Customer's bank accounts held at the Bank and the Bank of China Macau Branch, and/or inter-bank transfers between the Customer's bank account and a third-party bank account or a third-party bank account of the Bank of China Macau Branch, including but not limited to Transfer within own account, Third Party Transfer, Transfer to BOCM, QR Code Transfer, Mobile Number Fund Transfer or Transfer between Friends, etc.

2. Repayment transactions conducted through the Customer's bank credit card accounts and/or qualified third-party credit card accounts to the Bank and the BOC Credit Card (International) Co., Ltd.

3. Payment transactions conducted via “Tai Fung Pay” QR code scanning and frictionless payment.

(5) The Customer acknowledges and confirms that in accordance with the provisions of Article 2(4) of this Terms, for joint accounts of two or more persons, regardless of the signature combination, whether of all parties or just one, of the accounts launched at the Bank, any operation of the following transactions to such accounts on “Tai Fung Pay” shall not be subject to any restrictions of the signature combination adopted by the accounts, and the Customer agrees to be solely responsible for any losses, risks, and liabilities incurred thereby:

1. The Customer may register accounts under the same name with different signature combinations on "Tai Fung Pay" on his/her own, and may use these accounts for transactions (including but not limited to Transfer within own account, Third Party Transfer, Transfer to BOCM, QR Code Transfer, Mobile Number Fund Transfer or Transfer between Friends, etc.).

2. The Customer may also register his/her bank credit card accounts and/or eligible third-party credit card accounts on “Tai Fung Pay” on his/her own to perform repayment transactions to the Bank and the BOC Credit Card (International) Limited.

3. Payment transactions conducted via “Tai Fung Pay” by QR code scanning and/or frictionless payment.

(6) In addition to visiting the Bank in person to apply for modification or cancellation of the mobile number bound to "Tai Fung Pay", the Customer may also do so via Personal iBanking Services. The Customer shall bear any losses, risks, and liabilities arising from modifying or canceling the mobile number, and the Bank reserves the right at its absolute discretion at any time to revoke or suspend the use of the mobile number without prior notice to the Customer, the Bank shall in no way be liable to any losses of the Customer incurred thereby.

(7) All accounts on "Tai Fung Pay" are the same as all accounts on Personal iBanking Services, including but not limited to accounts under the same name, a third party account, Bank of China Macau Branch account. In addition to visiting the Bank in person to apply for adding or canceling the accounts or using the Personal iBanking Services and/or undergoing account deletion instructions of the accounts through “Tai Fung Pay”, the Customer may also give the following instructions by TOKEN via “Tai Fung Pay. The Customer shall be solely responsible for any loss and risk for those Instructions:

1. Instructions to register a new third party or Bank of China Macau Branch account.

2. Instructions to transfer money to an unregistered third party account.

(8) The Customer acknowledges and confirms that he/she may add bank credit card accounts of an eligible third party on "Tai Fung Pay" through TOKEN, and the Customer shall bear any losses and risks incurred by such operations.

(9) If the Customer has not activated the Personal iBanking Services, he/she may register as a "Tai Fung Pay" user and access some of the designated functions by registering a mobile number. The Bank is entitled to determine the permissions of different types of customers and the scope of available functions. For any "Tai Fung Pay" instructions initiated by the Customer through this form of registration, he/she shall be solely responsible for any losses and risks incurred thereby.

(10) Once the frictionless payment and/or Quick Payment and/or QR code payment service (including but not limited to Quick Payment by Bank ATM Card, Quick Payment by Bank Account, Tai Fung Pay QR Code Payment) are activated and the quick payment password and payment password are configured, the Customer may send payment instructions through frictionless payment and/or Quick Payment and/or QR code payment on the websites, mobile applications, other e-channels of certified merchants connected to the Bank, or where partner merchants and mobile application scenarios are bound to the Bank. The Customer shall bear any losses and risks incurred by such instructions, and be subject the Bank’s "Terms and Conditions for E-Payment Services".

 3. FingerprintID, FaceID and other Authentication Methods

(1) The login ID and login password used on "Tai Fung Pay" are identical to those of the Bank’s Personal iBanking Services.

(2) In response to technological development, the Bank shall introduce new authentication methods including but not limited to fingerprint passwords, gesture patterns, and face recognition. The Customer may make his/her decision to activate and use them properly. Transactions initiated by the Customer through these authentication methods shall be regarded as those initiated using the login password and impose the same liabilities, where the Customer is also is subject to the Bank's "Tai Fung Bank Fingerprint ID/Face ID Terms of Service". The Bank is entitled to adjustment at any time of the operation process of the authentication method and its scope of available devices, and to the withdrawal or suspension at any time of the provision of such authentication methods without prior notice to the Customer.

(3) Once the Customer has successfully registered the FingerprintID/FaceID for login, all FingerprintID/FaceID stored or modified at the time of or after the registration on the approved mobile device registered for login with those means can be used for services on "Tai Fung Pay ". The Customer must ensure that the approved mobile device only stores his/her own fingerprint/face. If the Customer stores any fingerprint/face of any other persons on the approved mobile device, any transactions on “Tai Fung Pay” performed by other persons with the stored fingerprint/face, including logging in and operating the Customer’s accounts and performing transactions via the "Tai Fung Pay" service, shall be deemed to authorized by the Customer and are legally binding on him/her. The Customer shall be solely responsible for any losses, risks, and liabilities incurred thereby.

(4) While FingerprintID/FaceID authentications are performed by the fingerprint identification sensor/face image sensor components on his/her approved mobile device, the Customer approves the Bank to obtain and access information collected from the fingerprint identification sensor/face image sensor on the Customer’s approved mobile device.

4. Obligations of the Bank

The Customer has to download and install the Bank’s "Tai Fung Pay" through methods specified by the Bank. If the Customer’s hardware or device is adversely affected as a result, the Bank or any data provider shall bear no liabilities incurred thereby.

5. Obligations of the Customer

The Customer has to ensure the security of the mobile devices. Do not use mobile devices with decrypted or modified operating systems (including but not limited to behaviors such as ROOT, JAILBREAK, etc.) to install and access "Tai Fung Pay". The Bank is entitled to restrict the access of "Tai Fung Pay" on these mobile devices, and the Customer shall bear the risks, losses, and liabilities caused by using "Tai Fung Pay" on these devices.

(04/2020 version)

Tai Fung Bank Limited