AlipayHK Wallet - Service Agreement

(Updated as of March 2023)

1.ACCEPTANCE OF TERMS

1.1 This Agreement sets out the terms and conditions of your access to and use of AlipayHK Wallet virtual account services (“AlipayHK Wallet”).  This Agreement is made between you and Alipay Financial Services (HK) Limited (“Alipay FS” or “we”).  You acknowledge that you have read this Agreement prior to your use of the AlipayHK Wallet.  By registering with Alipay FS, you accept and agree to be bound by the terms and conditions of this Agreement. If you do not accept all of the terms and conditions, please do not continue with the registration process.

1.2 We may amend this Agreement any time by posting an updated version on the AlipayHK mobile application and/or at www.alipay.hk (“AlipayHK Site”).  The updated version of this Agreement shall take effect immediately upon posting.  Each time you use the AlipayHK Wallet service you confirm that you agree to be bound by this Agreement as may be amended from time to time. 

2.REGISTRATION

2.1 To use the AlipayHK Wallet, you must have a registered account with Alipay FS (“AlipayHK Account”).

2.2 The AlipayHK Wallet is associated with your Alipay Account and is intended for effecting payment for the purchase of goods and services, to effect direct money transfers to and receive money transfers from other AlipayHK Wallet users (each, a “P2P Transfer”) and to effect money transfers to a recipient located outside Hong Kong (each, an “Cross-border remittance” and each such recipient, an “Overseas Recipient”) by means of using the AlipayHK Wallet mobile application (the “AlipayHK Wallet Mobile Application”).  Unless the context indicates otherwise, the expressions “transaction” and “transact” shall be construed to include payment for purchases of goods/services, P2P Transfers and Cross-border remittance.   

2.3 You are responsible for providing accurate registration information and for keeping your registration information up to date in the event of changes. 

2.4 We may verify your registration information and such other information with a third party verification vendor as deemed appropriate by Alipay.  We may obtain information relating to your risk profile by verifying your registration information with Alipay.com. Co., Ltd. (“Alipay CN”) if you have an existing account maintained with Alipay CN.     You agree to provide all necessary information and render all reasonable assistance and cooperation that Alipay FS may require in order to complete the verification.  The information you provide will be used to determine if you are eligible to begin and/or continue to use the AlipayHK Wallet.  Alipay FS reserves the right to close, suspend, or limit access to your Alipay Account and/or other Alipay services in the event we are unable to obtain or verify your information.  Provision and use of such data is subject to the AlipayHK Wallet Privacy Statement, as described in Section 9 below.

3.SECURITY

3.1 You shall be solely responsible for: a) maintaining the confidentiality and security of your device and security details, including username, password and biometric data; b) all transactions and activities that occur under your security details; and c) any and all consequences of use or misuse of your security details.

3.2 A set of username and password is unique to a single AlipayHK Account and you shall not share, assign or permit the use of your AlipayHK Account or your username and password to other persons.  You acknowledge that sharing of your AlipayHK Account with other persons or otherwise allowing other persons to use your AlipayHK Account (collectively, “multiple use”) may cause irreparable harm to Alipay FS and you shall indemnify Alipay FS against any loss or damages suffered by Alipay FS as a result of such multiple use of an AlipayHK Account.  You undertake to notify Alipay FS immediately of any unauthorized use of your AlipayHK Account or your username or password or any other breach of security.  You agree that Alipay FS shall not be liable for any loss or damages arising from your failure to comply with this section. 

3.3 If you are a business entity, you agree that all officers, employees, agents, representatives and others having access to the security details shall be vested by you with the authority to use the AlipayHK Wallet and to legally bind you.  You shall be responsible for all actions by current and former officers, employees, agents, representatives and others, regardless of whether authorized by you, that access the AlipayHK Wallet using your security details.

4.ALIPAYHK WALLET BALANCES

4.1 You may maintain monetary value in your AlipayHK Wallet, and such monetary value will be regarded as the balance of your AlipayHK Wallet (“AlipayHK Wallet Balance”).  Monetary value can be added to or accumulated in your AlipayHK Wallet (known as “topping up” or “loading”) by means of (a) presenting cash or other accepted payment method (each a “Payment Instrument”) to service providers (including but not limited to specified convenience stores) that we have authorized to offer the service of topping up your AlipayHK Wallet; or (b) bank account transfer from the banks designated by Alipay.

4.2 For any transfer from a Payment Instrument to your AlipayHK Wallet, we make no representation that any of your Payment Instrument(s) are in good standing, or that the issuer of your Payment Instruments will authorize or approve such transfer.

4.3 We may require that you submit identification documents and/or complete other verification of your identity (“KYC Checks”). Alipay FS reserves the right to impose different limits on your use of AlipayHK Wallet from time to time, including but not limited to (i) the maximum annual transaction amount of your AlipayHK Wallet; (ii) the amount of value you may load your AlipayHK Wallet at any one time; (iii) the aggregate amount of value loaded to your AlipayHK Wallet; and (iv) the maximum amount you can transact in a single transaction or within a specified period of time on the AlipayHK Wallet to make a purchase, P2P Transfer and/or Cross-border remittance.

4.4 Without completion of the relevant KYC Checks, you may only access certain basic features of your AlipayHK Wallet (“Basic Wallet”).  You may access certain enhanced features to your AlipayHK Wallet (“Premium Wallet”) upon completion of KYC Checks in accordance with the applicable internal policies of Alipay FS.  Alipay FS will notify you of the various features and limitations of the AlipayHK Wallet, and reserves the right to change such features and limitations from time to time.

4.5 You will not receive any interest or other earnings on your AlipayHK Wallet Balance and Alipay FS shall be entitled to retain any such accrued interest or other earnings beneficially. Your AlipayHK Wallet Balance is not protected under the Hong Kong Deposit Protection Scheme. 

5.USING YOUR ACCOUNT

5.1 You may use AlipayHK Wallet to purchase goods or services at the physical outlets (known as “offline purchases”) or online virtual stores (known as “online purchases”), of relevant merchants.  Any dispute or liability arising from the offline purchases and online purchases shall be resolved between you and the merchant. For security reasons, we may limit the amount or number of transactions you can make through your AlipayHK Wallet.

5.2 You may also use the P2P Transfer feature of your AlipayHK Wallet to make and receive money transfers from other AlipayHK Wallet users.  A P2P Transfer may be sent from either your AlipayHK Wallet Balance or your credit card account(s) which have been linked to your AlipayHK Wallet.  A P2P Transfer may be made by scanning the unique QR Code generated by the payee user’s AlipayHK Wallet.  P2P Transfers made by credit cards are subject to the Customer Due Diligence requirements as set out under the Hong Kong Monetary Authority’s Guideline on Anti-Money Laundering and Counter-Terrorist Financing (For Stored Value Facility Licensees).

5.3 You may link your debit card or bank account, which supports electronic direct debit authorization (eDDA) via Faster Payment System (FPS), (debit card and bank account, each a “Direct Debit Account”) to the AlipayHK Wallet. By doing so, you authorize us to deduct funds directly from the Direct Debit Account to top up your AlipayHK Wallet Balance, make P2P Transfers or pay for your offline purchases and online purchases (if you have chosen to pay with the balance of your Direct Debit Account). In addition, you may use your credit card linked to your AlipayHK Wallet to make P2P transfers or pay for offline purchases and online purchases via AlipayHK Wallet. For the purposes of this Agreement, payment made on AlipayHK Wallet (including P2P Transfers) with the balance on the Direct Debit Account and the credit card linked to the AlipayHK Wallet is defined as “Direct Payment”.

5.4 You may cancel the Direct Payment function and change the sequence of payment methods. If the credit card or Direct Debit Account has been closed or suspended, expired or become unavailable, AlipayHK Wallet may not be able to top up the AlipayHK Wallet Balance or make a Direct Payment. You agree that if a payment method fails or is otherwise unavailable in a Direct Payment, the next option on the sequence of payment methods will be used until all such methods have been exhausted, in which case the payment will fail. Alipay FS is not liable for such payment failure. You will consult with the relevant card issuer or bank to resolve the problem.

5.5 You may also use the Cross-border remittance feature of your AlipayHK Wallet to make money transfers to an Overseas Recipient.  An Overseas Recipient of such transfers may choose to use electronic wallet, bank account or cash pickup service to receive the funds so transferred.  The funding options for cross-border remittances may be limited depending on the receiving country, and remittance from card and/or bank account linked to your Alipay Wallet may be unavailable for certain Cross-border remittances. 

5.6 Each time you use your AlipayHK Wallet Balance for a transaction, you authorize us to reduce the value available in your AlipayHK Wallet Balance by the amount of the transaction and any applicable fees.  You can only use the AlipayHK Wallet Balance to the extent that to the amount of value standing credit to your AlipayHK Wallet Balance is sufficient for you to settle your transaction in full.  You are not allowed to enter into a transaction in excess of your AlipayHK Wallet Balance and we will not extend credit in connection with your use of Alipay Wallet.

5.7 You must check and ensure that all information relating to a P2P Transfer sent or received by you are correct before making or receiving a transfer.  As P2P Transfers made through the use of the QR Code are immediately credited to the payee’s AlipayHK Wallet Balance, any completed transactions may not be recalled or cancelled.  Alipay FS is not liable for, and has no obligation to recover, any transfer made to a wrong or unintended recipient based on your instructions.  You are therefore responsible for all instructions given by you or anyone using your username and password to access the AlipayHK Wallet Mobile Application.  Alipay FS reserves the right to reject a request if such P2P Transfer is deemed by Alipay FS to be a high risk or suspicious transaction.  If you receive any P2P Transfer by mistake, you must as soon as reasonably practicable notify us and return the money in such manner as we require.

5.8 You must check and ensure that all information relating to a Cross-border remittance made by you are correct before making a transfer.  Alipay FS is not liable for, and has no obligation to recover, any transfer made to a wrong or unintended Overseas Recipient based on your instructions.  You are therefore responsible for all instructions given by you or anyone using your security details to access the AlipayHK Wallet Mobile Application.  Alipay FS reserves the right to reject a request if such Cross-border remittance is deemed by Alipay FS to be a high risk or suspicious transaction.

5.9 You are responsible for all transactions initiated and fees incurred by the use of your AlipayHK Wallet.  In that connection, you must review the transactions and messages that we send you carefully. If other persons access your AlipayHK Wallet, we will treat this as if you have authorized such use and you will be responsible for any transactions and fees incurred by such use.

5.10 You must notify us immediately of any unauthorized use of AlipayHK Wallet or any other breach of security regarding the AlipayHK Wallet of which you have knowledge. We will conduct investigations into unauthorized transactions. In order to assist us with the investigations, you must provide information that we may reasonably require and you agree that we may share such information with the relevant law enforcement agencies or regulators. If we reasonably believe that you acted carelessly or fraudulently or in breach of this Agreement, you will be responsible for the unauthorized transaction.

5.11 We are not responsible for the quality, safety, legality or any other aspect of goods or services you purchase with your AlipayHK Wallet. 

6.REFUND AND REDEMPTION

6.1 If, having purchased goods or services using your AlipayHK Wallet Balance, you are subsequently entitled to a refund for any reason in respect of such goods or services obtained with your AlipayHK Wallet, you may receive credits to your AlipayHK Wallet Balance for such refunds.

6.2 In the event of Direct Payment, if you are entitled to a refund for any reason after a purchase or P2P Transfer is made, the refund will be transferred directly into the same credit card, debit card or bank account (as the case may be) from which the Direct Payment was initiated originally.

6.3 AlipayHK Wallet users may, upon the provision of certain KYC documentation, request to redeem the AlipayHK Wallet Balance (whether partially or in full) by transferring a sum representing the value of the redemption to your designated bank account under your name.  No redemption of cash or cash withdrawal is however permitted in respect of any part of your AlipayHK Wallet Balance.

6.4 In the event of a request for account cancellation, AlipayHK Wallet users may contact Alipay’s Customer Service Center Hotline at (852) 2245 3201. 

6.5 Any unused stored value can be redeemed upon termination of the AlipayHK Account by transferring to your designated bank account under your name.

6.6 You acknowledge, confirm and agree that Alipay FS will maintain account information and transaction details for a required period of time under applicable law.

7.YOUR RESPONSIBILITIES

7.1 You will use the AlipayHK Wallet services in good faith and in compliance with all applicable laws and regulations.

7.2 In connection with your use of the AlipayHK Wallet services, you must not:

    7.2.1 provide false, inaccurate, obsolete or misleading information;

    7.2.2 use AlipayHK Wallet for any illegal activities, including money laundering, racketeering and online gambling, regardless of whether online gambling is permitted in the jurisdiction in which you are located;

    7.2.3 use the AlipayHK Wallet services to defraud Alipay, our affiliates or other members or users, or service providers, or engage in other unlawful activities (including without limitation dealing in products or services prohibited by law);

    7.2.4 use AlipayHK Wallet services in a manner that may result in complaints, disputes, claims, penalties or other liability to Alipay, other users or third parties or may be regarded as an abuse of the AlipayHK Wallet services; or

    7.2.5 breach this Agreement or the policies contained in the AlipayHK Wallet Privacy Statement, or violate any applicable laws and regulations.

7.3 If we, in our sole discretion, (i) believe that you may have engaged in the above restricted activities, (ii) have concerns about the security of your AlipayHK Wallet, (iii) reasonably believe that you are in breach of this Agreement or other terms that govern our relationship with you, or (iv) believe that our provision of services to you could expose us or our affiliates to action or censure from any government, regulator or law enforcement agency, we may take various actions, including without limitation the following:

    7.3.1 suspending or restricting your access to the AlipayHK Wallet services;

    7.3.2 terminating this Agreement and refusing to provide the AlipayHK Wallet services to you;

    7.3.3 placing a hold on your AlipayHK Wallet Balance for up to 180 days if reasonably needed to protect against the risk of liability; or

    7.3.4 taking legal action against you.

7.4 You shall be solely responsible for payment of any taxes, duties or other governmental levies or any financial charges that may be imposed on any products or services purchased or any other transaction effected, by using the AlipayHK Wallet or otherwise arising from any transactions.

7.5 In the event you provide Alipay FS with any personal data, intellectual property, trade secret or other information that is owned by or exclusively granted to a third party, you warrant that you have received explicit and sufficient authorization from the third party for your use and provision to Alipay, of the personal data, intellectual property, trade secret or such other information. 

7.6 Subject to any applicable laws and regulations, in the event that we discontinue providing the AlipayHK Wallet services to you by reason of your breach of any applicable laws and regulations, this Agreement or the policies contained in the AlipayHK Wallet Privacy Statement, your remaining AlipayHK Wallet Balance will be refunded to you and your AlipayHK Account will be closed.

8.FEES

Alipay FS reserves the right to impose fees to cover the relevant costs of providing the AlipayHK Wallet services to you including but not limited to those associated with the set-up and maintenance of your AlipayHK Wallet (“Service Fee”). The Service Fee may apply each time you top up your AlipayHK Wallet Balance and may be charged as a percentage of your top-up.  All applicable Service Fees are published on the AlipayHK Site and may be updated from time to time without notice. 

9.PRIVACY

9.1 We collect, hold, use, process and transfer your data in accordance with the Personal Information Collection Statement pursuant to Personal Data (Privacy) Ordinance (Cap.486) in relation to AlipayHK Wallet  (“AlipayHK Wallet Privacy Statement”).  You acknowledge that you have read and consent to the AlipayHK Wallet Privacy Statement.

9.2 In giving us instructions in respect of Cross-border remittance or a transaction with a third party, you warrant that you have been authorized by the Overseas Recipients or the transaction counterparty to provide us with their personal information for the purpose of the remittance or the completion of the transaction.  You further acknowledge and confirm that you have procured the Overseas Recipients or the transaction counterparty to read and consent to the AlipayHK Wallet Privacy Statement.

10.LIMITATION OF SERVICE

Notwithstanding any limitations described elsewhere in this Agreement, Alipay FS may establish general practices and limits concerning use of the AlipayHK Wallet, including without limitation individual or aggregate transaction limits on the dollar amount or number of transactions during any specified time period(s).  Alipay FS reserves the right to change, suspend or discontinue any aspect of the AlipayHK Wallet at any time, including hours of operation or availability of the AlipayHK Wallet or any features of the AlipayHK Wallet, without notice and without liability.  Alipay FS also reserves the right to impose limits on certain features of the AlipayHK Wallet or restrict access to some or all of the AlipayHK Wallet services without notice and without liability.  Alipay FS may decline to process any transaction without prior notice to you. 

11.INDEMNIFICATION

You agree to indemnify Alipay FS and our affiliates and our employees, directors, officers, agents and representatives and to hold them harmless, from any and all losses, damages, actions, claims and liabilities (including legal costs on a full indemnity basis) which may arise, directly or indirectly, from (a) your use of the AlipayHK Wallet, (b)your breach of this Agreement, (c) your breach of any agreement with a third party when you make a transaction through AlipayHK Wallet, or (d) your infringement of any legal right owned by or granted to any third party due to your disclosure of the third party’s personal information or trade secret, or due to your use of the third party’s intellectual property.  Alipay FS reserves the right, at our own expense, to assume the exclusive defense and control of any matter otherwise subject to indemnification by you, in which event you shall cooperate with Alipay FS in asserting any available defenses.

12.SUSPENSION OR BREAKDOWN OF SYSTEMS

12.1 You agree that you will not hold Alipay FS and our affiliates liable if you are unable to use the AlipayHK Wallet, including but not limited to the following instances:

    12.1.1 System suspension which has been announced by Alipay FS in advance; or

    12.1.2 Failure in data transmission and system operations due to Force Majeure Event.  For the avoidance of doubt,  “Force Majeure Event” means an event that is not foreseeable, the consequence of which cannot be prevented or avoided and beyond the reasonable control of Alipay FS other than due to its fault or negligence, which includes, without limitation to, acts of god, fire, computer virus, defect in design of instrumental software, attack by hacker, change in laws or policies, major outages of a telecommunication carrier’s network connections, interface incidents of partner banks and financial institutions, gateway incidents of mobile carriers, unexpected incidents resulting from changes in users’ systems, unexpectedly large increases in traffic volume, and governmental authority intervention that results in the seizure or confiscation of platform or systems, in each case to the extent used in or necessary for the provision of the AlipayHK Wallet services and only to the extent such event(s) are beyond the control of the affected party and only for as long as such event(s) persist.

13.DISCLAIMER AND LIMITATION OF LIABILITY

13.1 You agree that all risks arising from your use of the AlipayHK Wallet will be borne by you.

13.2 Alipay FS makes no warranty regarding the AlipayHK Wallet supplied under this Agreement, including but not limited to: a) the AlipayHK Wallet services will meet your requirements; b) the AlipayHK Wallet services will be uninterrupted, timely or error free; or c) any products, information or material obtained by you in connection with the services will meet your requirements.

13.3 Except as expressly provided in this Agreement and to the full extent permitted by law, the AlipayHK Wallet services are provided “as is”, “as available” and “with all faults”.  All such warranties, representations, conditions, undertakings and terms, whether express or implied, are hereby excluded.

13.4 To the full extent permitted by law, Alipay FS and our affiliates shall not be liable for any indirect, consequential, incidental, special or punitive damages, including without limitation damages for loss of profits or revenues, business interruption, loss of business opportunities, loss of data or loss of other economic interests, whether in contract, negligence, tort or otherwise, arising from your use of or inability to use the AlipayHK Wallet services. In any event, Alipay’s total aggregate liability to you under this Agreement or in relation to your use of the AlipayHK Wallet will not exceed your AlipayHK Wallet Balance at the point in time when such liability arose.

13.5 In the event that it is demonstrated that you are below the age of 18 when entering into this Agreement, Alipay FS shall not be liable for any loss suffered by you arising out of the use of the Alipay services.

14.ANTI-MONEY LAUNDERING AND ANTI TERRORIST FINANCING POLICY

14.1 You are required to keep your accounts and contact information current at all times.  Any account found to contain incorrect and/or outdated information may be suspended.

14.2 It is the policy of Alipay FS to prohibit and actively pursue the prevention of money laundering and any activity that facilitates money laundering or the financing of terrorist or criminal activities.  Alipay FS is committed to anti-money laundering compliance in accordance with applicable law and requires its directors, officers and employees to adhere to these standards in preventing the use of its products and services for money laundering purposes.

14.3 In order to fulfil its anti-money laundering obligations in connection with the Cross-border remittance services, Alipay FS shall be entitled to collect information relating to you and the Overseas Recipients, including but not limited to name, contact details, nationality, identification number, details of bank account, residential address or the electronic wallet of the Overseas Recipients.

15.CHANGE OF LAW  

If Alipay FS  or its affiliates reasonably conclude that any change in any applicable law, including but not limited to any applicable government authority’s ruling, notice, policy or guidance requires, or will require, Alipay FS  or its affiliates to incur material incremental costs to comply with the change, or will prohibit Alipay FS  or its affiliates from performing material obligations under this Agreement, then Alipay FS  will modify any provision of this Agreement as may be necessary to enable Alipay FS  or its affiliates to comply with the new law.  Notwithstanding anything contrary in this Agreement, in the event that any such change requires Alipay FS to terminate this Agreement immediately, Alipay FS has the right to terminate the Agreement immediately by posting the relevant notice on its website.

16.CHOICE OF LAW AND ARBITRATION

16.1 This Agreement shall be governed by the laws of Hong Kong without regard to conflict of law principles. 

16.2Any dispute, controversy, difference or claim arising out of or relating to this Agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be Hong Kong law. The seat of arbitration shall be Hong Kong.  The arbitration shall be conducted by a sole arbitrator.  Unless the parties agree otherwise, the arbitration shall be conducted in English.  The arbitration award rendered by the arbitrator shall be final and binding on all the relevant parties.

17.GENERAL PROVISIONS

17.1 If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be deleted and the remaining provisions shall be enforced.

17.2 Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section.

17.3 Any failure by Alipay FS to exercise any of our rights under this Agreement shall not constitute a waiver of such right or a waiver with respect to subsequent or similar breach.  A waiver shall be effective only if made in writing.

17.4 The parties agree, and you hereby give your express consent in advance, that Alipay FS  may, in its absolute discretion and upon notice to you, assign, transfer, novate and otherwise deal in any manner all or any part of the benefit of this Agreement and any of the rights, remedies, powers, duties and obligations under this Agreement to any of our affiliates, any successor in interest or any person who has been granted a license under section 8F of the Payment Systems and Stored Value Facilities Ordinance (Cap. 584 of the Laws of Hong Kong) or any other person who is operating as a service provider to such a licensed entity.  Alipay FS may delegate certain of Alipay FS rights and responsibilities under this Agreement to independent contractors or other third parties.   You shall not assign, transfer, novate, or otherwise deal in any manner the benefit of this Agreement or any of your rights, remedies, powers, duties, undertakings or obligations under this Agreement without the prior written consent of Alipay FS.

17.5 If there is any conflict between the English version and another language version of this Agreement, the English version shall prevail.

Please click here for Stored Value and Transaction Limits