Terms Of Use

You acknowledge and agree that by checking the ‘Agree’ box when opening your Account, you agree to abide by the following terms of use as amended from time to time (Terms of Use) concerning your use of the electronic money stored value service provided by Skynet technology Ltd. If there is any part of the Terms of Use you do not understand or wish to clarify, please contact our Support Team.

This Term of use (“Agreement”) is a contract between you and Skynet technology Ltd. (“Company”) and applies to your use of Zenz products and services and any other Zenz features, technologies, and/or functionalities offered by Company on our website, in the Zenz app or through any other means (the “Zenz Services”). The Zenz Services are provided to you subject to this Agreement as well as our Privacy Policy (“Privacy Policy”).

• Definitions and general terms

  In these Terms of Use, the following words have the meaning set out beside them:

  “Zenz!” is a mobile service offered by Skynet technology Ltd. that comprises a stored value facility that may be used by a user (in the individual’s personal capacity, a “User” and collectively, “Users”, in the sole proprietor/partnership/corporate capacity, a “Business User” and collectively, “Business Users”) as a mobile wallet on their mobile device.

  “Zenz! Application” means an application for mobile devices that can be downloaded by the User from the Apple App Store and Google Play store.

  “Zenz! Service” means any service offered by Skynet technology Ltd. which may be obtained through and from the use of the Zenz! Application, as may be determined by Skynet technology Ltd.. from time to time.

  “You” means a User.

  “Account ID Information” means any and all of the following pieces of information: your Card details (Card number, expiry date and CVV code), your PIN, information you use to log in to your Account, your secure identification number, security questions and answers and other Account credentials and information specific to your Account.

  “Payment” means any of the following: (i) any payment made using your Card; (ii) the debiting of an amount of electronic money from your Account and the concurrent crediting of such amount to a Merchant account, or another Member’s account, as designated by you (including by way of Subscription Billing); or (iii) the crediting of an amount of electronic money to your Account and the concurrent debiting of a Merchant account, or another Member’s account.

  “Business Day” means any day other than a Saturday or a Sunday or a public or bank holiday in England.

  “Transaction” means, as the context permits: (i) a Payment; or (b) a Withdrawal; or (c) an Upload; in each case less any applicable Fees;

  “Withdrawal” means taking funds from your Account by using your wallet or by selecting one of the withdrawal methods available to your bank account.

  "Third Party Provider" means a service provider authorised by law or allowed by you to access information or make payments for you in your Account. It is a condition of membership and use of the Account that you agree to these Terms of Use, which form a legally binding contract between you and us once you register to become a Member.

• Terms for Zenz services

  The Zenz Services allow you to make payments to and accept payments from third parties. You may use the Zenz Services on your mobile device, or, if you are an approved merchant that has received express authorization to accept Authorized Merchant Payments as described in this Agreement, you may accept Zenz payments through your mobile application or website.

  Company has no responsibility for the actions of your transfer recipient or for the subject of the transfer. We do not guarantee the identity of any user of the Zenz Services or that a sender or a recipient can or will complete a transaction.

  By accepting these Terms of Use and using the Zenz Service you acknowledge that:

  1. We are not a bank and your Account is not a bank account;

  2. Funds held in your Accounts or the company in connection with the process of transactions are not deposit obligations and are not insured by any government agency and the UK’s Financial Services Compensation Scheme (FSCS) does not apply to your Account;

  3. We do not act as a trustee, fiduciary or escrow holder in respect of balances in your Account;

  4. We do not pay you interest or other earnings on any balances in your Account.Company does not typically receive interest on funds held for its users.However, inconsideration for your use of the service, you irrevocably transfer and assign to Company any ownership right thatyou may have in any interest that may accrue on funds held in pooled accounts. This assignment applies only to interest earned on your funds, and nothing in this Agreement grants Company any ownership right to the principal of the funds you maintain with Company.

• Elegibility account registration

  1. To be eligible to use the Zenz Services, you must be 16 years or older. You are required to create and register your Wallet Account in your Zenz! Application (“Registration”). As further detailed in our Privacy Policy, in order to register, create and use an account, Zenz may require that you submit certain Personal Information (as defined in the Privacy Policy), including but not limited to your name, email address, mobile phone number, address, date of birth. During the registration process, or when you access the Zenz Services from a phone, your phone’s device ID is also stored.

  2. You must provide a display name as part of the Registration. The display name provided by you will be displayed in the notifications to the recipient of incoming funds transferred from or requested by you.

  3. You must upload an image of yourself (business logo if you are a business) and this uploaded image will be visible to all recipients of incoming funds from you. Your uploaded image will be linked to your Wallet Account and will be kept in the Zenz! Application unless deleted by you.

  4. You will be required to select one personal or Joint-Alternate bank account for your use of the Zenz! Service (“Designated Account”). Your Designated Account will be linked to your Wallet Account in the Zenz! Application to allow the movement of funds between your Designated Account and your Wallet Account.

  5. You must use your personal Password (“Password”)/PIN/Touch ID to access and use the Zenz! Application. You are responsible for safekeeping and maintaining the confidentiality of your Password. You must not disclose to any person your Password and shall not authorize any person to use your Password for any purpose whatsoever. You agree to take reasonable measures and all due care to protect your Password against misuse by third parties.

  6. You should, as soon as possible, reset your Password should you notice that your Zenz! Application has been accessed or used without your knowledge, authority or consent.

• Types of accounts

  We offer two different types of accounts, Personal and Business/Merchant accounts.

  1. You may have only one personal account. Personal accounts are for use in person-to-person transfers with friends and family, and other people whom you know.

  2. Personal accounts may also be used to make Authorized Merchant Payments as described in this Agreement.

  3. Some features of personal accounts may be limited based on how you wish to use the Zenz Services, how much you need to send or spend and what we know about you.

  4. We may require that you provide more information in order to complete a transaction. Personal accounts may not be used to receive business, commercial or merchant transactions, which includes (without limitation) paying or accepting payment from other users you do not personally know for goods or services (for example, concert tickets, electronic equipment, sneakers, a watch, or other merchandise) (“Prohibited Business Transactions”).

  For each Business/Merchant you are involved with, you may have only one business/merchant account.

  1. Business account use is limited. Business accounts must be applied for and explicitly authorized. By opening a business account and accepting the terms as outlined in this Agreement, including, but not limited to, the Rules and Restrictions for Business Accounts set forth below, you attest that neither you nor your business is establishing a business account primarily for personal, family or household purposes.

  2. We may reverse or place a hold on your transactions or place a reserve on your funds if you are in breach of this Agreement, including, but not limited to, if you are using a personal account to conduct Prohibited Business Transactions or a business account for personal, family or household purposes.

• Identity authentication

  You hereby authorize Company, directly or through third parties, to make any inquiries we consider necessary to validate your identity and/or authenticate your identity and account information and, for business accounts, your company or employer. This may include asking you for further information and/or documentation about your account usage or identity, or requiring you to take steps to confirm ownership of your email address, wireless/cellular telephone number or financial instruments, and verifying your information against third party databases or through other sources. This process is for internal verification purposes.

• Using your account

  In order to make a transaction, you will need to make an upload or add your debit or credit card.

  1. You may purchase electronic money by using one of the upload options available to you depending on your country of residence.

  2. You must provide the information requested and pass all identity and security validation and verification checks. For any upload, you authorise us to obtain or receive funds on your behalf from your chosen payment source, less any applicable Fees, and then issue electronic money to your Account.

  Making payment to and from your account

  1. Using your Zenz wallet to make Payments and Withdrawals, you can also make a Payment straight from your wallet account to a Merchant that accepts payment from a Zenz account or another Member by completing the information on the “Money Out” page of the Member Site, and, in some cases, you may be able to make a Payment to or from a Merchant.

  2. When making a Payment from your Account, you may not designate an amount in excess of the balance (plus the applicable Fees) in your Account at the time the request is made. If you attempt to do so, your Payment request will be denied.

  3. The amount of any Payment made to your Account will be credited to your Account balance, less any applicable Fees, on receipt. If a Payment credited to your Account is reversed by the sender prior to you performing a Transaction, the amount of the reversed Payment will be returned to the sender and no Fees will be owed by you.

  4. You are fully responsible for any goods or services bought by you that are paid for through your use of the Zenz Service. Any dispute with a Merchant regarding any product or service bought by you through the Zenz Service is between you and the Merchant and you agree that we shall not be a party to such dispute.

  5. We do not provide any warranties, representations, conditions or guarantees with respect to such goods and services.

  6. Payments are subject to fees including currency conversion fees (if applicable).

  Transaction history

  1. Transactions are displayed in your online transactions history together with the date of receipt or transmission (the credit or debit value date), the fees charged and, where applicable, any exchange rate used. Each transaction is given a unique transaction ID and shown in the transaction history.

  2. We will not alter or amend information displayed in your online transaction history. You should quote this transaction ID when communicating with us about a particular transaction.

  3. You should check your Account balance and transaction history regularly. You should report any irregularities or clarify any questions you have as soon as possible by contacting Customer Service.

  Sending money

  1. You must give consent to the execution of a Transaction for it to be authorised. You agree that by pressing the “agree” button, or entering your Account ID Information (or any equivalent button or process whereby you submit the required Transaction information) you are confirming that you are providing consent for the Transaction to be processed and for the relevant Fees to be charged and deducted from your Account.

  2. All Transactions made using your PIN, your Account ID Information or any other security procedures that we require are deemed to be authorised by you. You also agree that once consent has been provided by you, the authorised Transaction can no longer be revoked. To this extent, the time of receipt of the Transaction request (and therefore the time of consent) is the time when the “agree” button has been pressed (or such equivalent button or process).

  3. You acknowledge that your intended recipient of a Transaction from your Account is not required to accept the Transaction. If an intended recipient declines a Transaction from your Account, your Account will be re-credited with the amount of the Transaction and noFees will be charged.

  4. If you receive funds into your Account that were not intended to be transferred to you, we will be entitled to remove these funds from your Account.

  Withdrawing money

  1. You must ensure that the payment details you enter when making a Withdrawal are correct and complete.

  2.  We will not be liable for withdrawn funds being sent to the wrong account where this is due to you providing incorrect payment details.

  3. When withdrawing to a bank account, you must ensure that the account number, sort code, IBAN and/or BIC/SWIFT are correct. If you have withdrawn funds to the wrong account, you may request that we assist you in reclaiming the funds. However, we will charge you an administration fee of up to 25 USD for doing so and we cannot guarantee that the reclaim efforts will be successful.

  Sending limits

  1. We may, at our discretion, impose limits on the amount of transactions you conduct through the Zenz Services. Please see our Help Centre for more details on limits. If we have authenticated your identity, we may increase your transaction limits. These limits may change from time to time in Company’s sole discretion. You will be notified of any limit changes to the extent required by applicable law.

  2. You also acknowledge that for security purposes, certain of our Transaction options impose minimum and maximum limits on the amounts that may be transferred. We reserve the right to impose limits on the amount of any Transaction and the frequency you may use a particular Transaction option. Further information is available on the Website. These limits are subject to change from time to time without notice.

  Transaction Reviews

  1. We review account and transaction activity at various times, including when you initiate a transfer of funds out of Zenz. This review checks for, among other things, suspicious or illegal activity, and whether your account activity and the activity of users with whom you’ve transacted comply with this Agreement.

     Reviews may result in:

     1. Delayed, blocked or cancelled transfers;
     2. Funds being held by Zenz;
     3. Funds being applied to a negative Zenz account balance or used to offset loss incurred by Zenz;
     4. Account suspension or termination;
     5. Funds being seized to comply with a court order, warrant or other legal process; and/or
     6. Funds you previously received being reversed (i.e., sent back to the sender’s Zenz balance or to the card or bank account that was used to fund the payment).

  2. Among other reasons, we may take the above actions if you knowingly or unknowingly received a payment that was made from a stolen card, compromised bank account, or compromised Zenz account, or if you conducted a Prohibited Business Transaction.

  3.  In connection with our review process, you may be required to provide us with additional information and/or documentation to verify your identity. We may limit your account and your access to funds in it until verification is completed.

  Fees for sending money

  1. We may charge you the standard Fees set out on our Website for each Transaction. You authorise us to debit from your Account any applicable Fees at the time of a Transaction. We may also charge you certain administration Fees, including, but not limited to, in relation to ongoing management of inactive accounts, debt collection and reprocessing charges in case of insufficient funds.

  2. All Fees will be charged in the currency of your Account and you agree that we may debit by way of set-off from your Account any Fees, charges or other amounts owing to us and payable by you in connection with the Zenz Service.

  3. All Card Fees will be charged in the currency of your Account, regardless of the currency of the Card or the Transaction. You may be subject to third party fees, such as insufficient fund fees, reversal fees, or ACH insufficient fund fees that a bank may charge if your payment is rejected.

  4. We reserve the right to change the Fees from time to time, which will be implemented in accordance with Section 2.2. Updates will be indicated on the Fees page of our Website. Changes to the reference exchange rate shall apply immediately, without prior notice.

  Payments methods

  1. Your Zenz balance consists of the funds you have in your Zenz account that are available for new transactions and are not subject to pending transactions.

  2. When you make a payment through the Zenz Services, we first see if your Zenz balance can cover the transaction. You may also be able to fund payments with a bank account, debit card or credit card, designating one of these to be your preferred payment method.

  3. We always use your Zenz balance first if the balance is sufficient to cover your payment. If there is not enough money available in your Zenz balance to cover the transaction, we use your designated preferred payment method to make the payment in its entirety. This payment method may differ depending on the type of payment you are making.

  Debit/credit card processing

  1. Zenz will process your debit card-funded transactions through either the debit card’s network or the Visa/Mastercard network, as Company may elect at its discretion.

  Card Expiry

  1. If your credit or debit card account number changes or your credit or debit card expiration date changes, we may acquire that information from our financial services partner and update your account accordingly.

  Refused and refuned transactions

  1.  When you send money, the recipient is not required to accept it. You agree that you will not hold Company liable for any damages resulting from a recipient’s decision not to accept a payment made through the Zenz Services.

  2. If a recipient of funds is not a Zenz user and does not register for the Zenz Services, Zenz will return your funds in 7 days. If the recipient does not register, set up an email address or mobile number and accept the transfer within 7 days, the transaction will be cancelled. During this period, a hold will be placed on your account for the amount of the transfer and the applicable fee, if any.

  3. Once the recipient has successfully registered as a Zenz user, transfers will automatically be debited from your account and credited in the recipient’s account. We will return any unclaimed, refunded or denied payment within 7 days of the date you initiate payment. If a payment is unclaimed, denied or refunded for any reason, we will return the money to your balance or to the original payment method.

  Account balances

  1. You do not need to maintain a balance in your account in order to make payments. If you do hold a balance, Company will hold your funds separate from its corporate funds, will not use your funds for its operating expenses or any other corporate purposes, and will not voluntarily make your funds available to its creditors in the event of bankruptcy.

  2.  While your funds are in our custody, Company will combine your funds with the funds of other users and place those pooled accounts in one or more bank accounts in Company’s name.

  Notifications

  1. Zenz is entitled to send you “push notifications” and SMS notifications relating to your access to and use of the Zenz. Application and any updates on related services.

  2. Zenz is deemed to have sent the Notification to you, even if you are unable to or do not receive the Notification for whatever reason

• Currency Exchange

  1. When you register your Account, you have a default geolocation currency and an option of choosing from a list of currencies, which will be the currency in which your Account will be denominated.

  2. If you use your Card to make a Transaction in a currency other than the currency of your Account, then such a Transaction will be converted to the currency of your Account on the day we receive final settlement for the Transaction (typically 72 hours after you make the Transaction). You will receive an estimate of the converted amount at the time you make the Transaction, but this may be less, or more, than the final amount deducted from your Account due to exchange rate fluctuations. We will use Visa or Mastercard authorised rates applicable for such a Transaction. A foreign exchange fee will also apply (see the Fees section for further details).

• Chargebacks,negative balances and refunds

  1. If you choose an upload method using a payment method that may be subject to a right to claim funds back (a "Chargeback") such as (but not limited to) credit or debit card or direct debit, you declare that you will not exercise such Chargeback other than for unauthorised use of the payment method or for a breach by us of these Terms of Use which would result in you having a right to a refund of the uploaded amount. Otherwise, you may not Chargeback any upload transaction or allow Chargeback of any upload transaction for reasons for which we are not responsible including (but not limited to) disputes with merchants for non-delivery of goods or services or insufficient balance on the payment method account. We reserve the right to charge you fees and expenses we incur in connection with such Chargeback and any action undertaken to challenge the same. We may also charge you a Chargeback fee of £25.

  2. Without limiting our rights or remedies, if you do charge back, cancel, reverse or de-authorise a payment in such circumstances, you are responsible for refunding the payment to us. We may, at our discretion, recover the amount by reducing your Account balance, re-charging your credit card or bank account for the amount or otherwise collecting such amount from you or may take other legal actions to collect the amount due, to the extent allowed by applicable law.

• Third party providers

  1. You can instruct a Third Party Provider to access information on your Account or make payments from your Account as long as it is open and transparent about its identity and acts in accordance with the relevant regulatory requirements (but unless we say otherwise, you must not give your security details to a third party). We will treat any instruction from a Third Party Provider as if it were from you.

  2. We may refuse to allow a Third Party Provider to access your Account if we are concerned about unauthorised or fraudulent access by that Third Party Provider. Before we do this we will tell you and explain our reasons for doing so, unless it is not reasonably practicable, in which case we will tell you immediately afterwards. In either case, we will tell you in the way in which we consider most appropriate in the circumstances. We won’t tell you our reasons where doing so will undermine our reasonable security measures or otherwise be unlawful. We may make available to a Third Party Provider a specific means of accessing your Account. If we do, and it tries to access your Account by a different way, we may refuse to allow that access.

  3. If you think a payment may have been made incorrectly or is unauthorised, you must tell us as soon as possible even where you use a Third Party Provider.

• Bill payment

  1. You may make payment (“Bill Payment”) from your Wallet Account to certain third party billing organisations (“Billing Organisations”) or make a charitable donation (“Charitable Donation”) from your Wallet Account to certain third party charitable organisations (“Charitable Organisations”). You may also make payment from your Wallet Account for goods or services (“Merchant Payment”) purchased from certain third party merchants (“Merchants”), online merchants who accept payment made via the Zenz! Application (“Online Merchants”) and certain third party merchants with QR Code-enabled NETS Terminals who accept payments made via the Zenz Application’s Scan and Pay with QR Code function.

  2. In these Terms, Billing Organisations will be individually referred to as a “Billing Organisation”, Charitable Organisations will individually be referred to as a “Charitable Organisation”, Merchants will individually be referred to as a “Merchant”, Online Merchants will individually be referred to as an “Online Merchant” and NETS Merchants will individually be referred to as a “NETS Merchant”. Merchants, Online Merchants and NETS Merchants will be collectively referred to as “All Merchants”.

  3. In order to make the Bill Payment, you will be required to enter the relevant consumer reference number with each Bill Payment transaction and you will be responsible for the accuracy of the consumer reference number. Zenz will not be liable for a Bill Payment made with a consumer reference number entered incorrectly. It is your responsibility to approach the respective Billing Organisation.

  4. For each Charitable Donation transaction, you may be required to provide your full name which will be sent to the Charitable Organisation for the purpose of tax deduction filing (if any) by the Charitable Organisation. Zenz will not be responsible for your tax deduction filings (if any). You acknowledge and accept that your donations to the Charitable Organisations may not be eligible for tax deduction and you are responsible and will check with each Charitable Organisation individually for their tax deduction eligibility.

• Keeping your account safe

  1. It is your responsibility to keep your account safe; you must not give it to anyone else to use. You must take all reasonable precautions to keep your Account ID Information confidential and secure. This includes ensuring the ongoing security of your Account ID Information and your personal computer device for accessing the Internet. You are required to change your password regularly and to use up to date virus, malware and spyware scanning software and firewall protection to reduce the risk of a security breach.

  2. If you suspect that someone else knows your Account ID Information, or either it or your Card has been lost, stolen, misappropriated, used without authorisation or otherwise compromised you are advised to change your password. You must contact the Customer Contact Centre without undue delay on becoming aware of any loss, theft, misappropriation or unauthorised use of your Account ID Information. Any undue delay in notifying us may not only affect the security of your Account but may result in you being liable for any losses as a result where your failure to notify us is intentional or grossly negligent. If you suspect that your Account was accessed by someone else, you should also contact the police and report the incident.

• Prohibited transactions

  1. It is strictly forbidden to send or receive payments as consideration for the sale or supply of: tobacco products, prescription drugs, drugs and drug paraphernalia, weapons (including without limitation, knives, guns, firearms or ammunition), satellite and cable TV descramblers, pornography, adult material, material which incites violence, hatred, racism or which is considered obscene, government IDs and licences including replicas and novelty items and any counterfeit products, unlicensed or illegal lotteries or gambling services (including without limitation the use of or participation in illegal gambling houses), unregistered charity services, items which encourage or facilitate illegal activities, prepaid debit cards or other stored value cards that are not associated with a particular merchant and are not limited to purchases of particular products or services, third party processing or payment aggregation products or services, multi-level marketing, matrix programmes or other “get rich quick” schemes or high yield investment programmes, goods or services that infringe the intellectual property rights of a third party, un-coded/miscoded gaming, timeshares or property reservation payments (On and Off Plan). We reserve the right, in our sole discretion, to add categories of prohibited transactions by adding such categories either to these Terms of Use or an acceptable use policy published on the Website.

  2. You may not use our services if you are residing in certain countries. These countries may be listed on the Website and updated from time to time. This list is not exhaustive and we may in our sole discretion decide to discontinue or restrict our services in other countries at any time and without prior notice. We reserve the right to suspend or terminate your Account at any time if we reasonably believe to be required to do so by law or in order to comply with recommendations issued by a relevant government authority or recognised body for the prevention of financial crime.

  3. It is strictly forbidden to use your Account for any illegal purposes including but not limited to fraud and money laundering. We will report any suspicious activity to the relevant law enforcement agency. You are prohibited from using your Account in an attempt to abuse, exploit or circumvent the usage restrictions imposed by a merchant on the services it provides.

  4. You may only accept payments for certain categories of business after approval from us in our sole discretion. Such business categories include but are not limited to: money exchange or remittance businesses, including but not limited to bureaux de change, currency exchanges and purchase of travel money; the collection of any form of donations or payments to charitable or not-for-profit organisations; dealing in natural resources such as jewels, precious metals or stones; live streaming; the sale or supply of alcoholic beverages; the sale of supply of dietary supplements and alternative health products; any other business category published in an acceptable use policy on the Website from time to time. In case you are in doubt whether your business falls under any of the above categories, you must contact Customer Service. We reserve the right in our sole discretion, to add business categories requiring approval by adding such categories either to these Terms of Use or an acceptable use policy published on the Website.

  5. If you conduct or attempt to conduct any transaction in violation of the prohibitions contained in this section or without the necessary approval, we reserve the right to: reverse the transaction; and/or close or suspend your Account; and/or report the transaction to the relevant law enforcement agency; and/or claim damages from you; and charge you an administration fee if we apply any of the above. 12.6 It is your and not our responsibility to ensure that you only send payments to or receive payments from persons or entities for the sale or supply of goods and services that you may provide or receive in compliance with any applicable laws and regulations. The mere fact that a person or entity accepts payments through us is not an indication of the legality of the supply or provision of their goods and services. If you are in doubt as to the legality of a supply or purchase, you should not continue with your payment.