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Terms and conditions

Terms and Conditions for Providing Mobile Payment Services and Opening a TaifPay Electronic Wallet Iraq Wallet for Financial Payment via Mobile Phone and Internet (LLC) (hereinafter referred to as the “Company” or “TaifPay”), is a company specialized in providing electronic payment services via mobile phones and the internet that is set up in accordance with applicable Iraqi Companies Law and is licensed by the Central Bank of Iraq. Whereas, the Customer wishes to enter into a contract with the Company for the purposes of opening a TaifPay electronic wallet, to benefit from electronic payment services via a mobile phone and the internet, in accordance with the terms and conditions of these services listed below and which constitute and create a binding and valid agreement between TaifPay and the Customer (hereinafter collectively referred to as the “Parties”), and which will apply to all transactions carried out by the Customer. With the acceptance of offer between the Parties, the following has been agreed to: Clause One / Definitions

  1. Agent: the entity engaged by the Company to perform/provide some of the licensed activities through the tools or systems operated by the Company, and in accordance with the Central Bank of Iraq’s regulations and instructions.
  2. Bank: The Central Bank of Iraq.
  3. Card: the prepaid TaifPay card linked to the Electronic Wallet Account.
  4. Company: Iraq Wallet Financial Payment via Mobile Phone and Internet LLC (Service Provider – TaifPay).
  5. Customer: the natural or legal person who benefits from the Company’s Services, who wishes to open an Electronic Wallet in their name, who has signed/agreed to these terms and conditions, and has been registered by the Company for the purposes of using the mobile payment Service.
  6. Dormant Electronic Money Account: the Electronic Money Account in respect of which no financial transactions has occurred, where it is impossible to ascertain the existence of the account holder through their other dealings with the Company, all means of contacting them have been exhausted, and one year has passed since the date of the last financial transaction on the account.
  7. Electronic Money: the monetary value deposited electronically and which is issued in exchange of receiving cash amounts of the same currency and value, which serves as a means of payment that can be transferred between the Parties dealing with it through electronic means.
  8. Electronic Wallet or Wallet: the virtual account created by the Company in the Customer’s name, enabling them to perform payment transactions via the mobile phone.
  9. Prohibited Activities: means activities and transactions that are prohibited and punishable under the provisions of applicable laws, such as money laundering, financing terrorism, and others.
  10. Service/Services: The electronic payment service via mobile that is provided by the Company, among other services.
  11. TaifPay Customer Service Centre: The Company’s unified contact number, which can be found on the Company’s official website, in addition to the Company’s communication accounts for responding to Customer inquiries and resolving any technical issues faced by the Customer.

Clause Two / Request for Services – TaifPay

  1. The Customer shall fill out the electronic ‘Know Your Customer (KYC)’ form in the TaifPay mobile application or by visiting any authorized Agent in Iraq, in accordance with the Central Bank of Iraq’s instructions and regulations.
  2. The Company reviews the documents submitted by the Customer or the Agent to ensure all requirements are met. The national ID number and any other relevant details are verified, and the Company has the right to review these details at any time to ensure their accuracy.
  3. The Company has the right to reject any Service request for any reason it deems appropriate, at its sole discretion, and will immediately inform the Customer to correct the documents and provide instructions on how to complete the Service provision process.
  4. Upon registering for the TaifPay Service, the Customer will receive a welcome message confirming the successful setup of the Wallet along with a Personal Identification Number (PIN) to log into the Wallet, enabling the Customer to use all TaifPay Services. The Customer has the right to change the PIN at any time after activating their Wallet through the TaifPay application.

Clause Three / Declarations The Customer represents that:

  1. All information and documents provided are true, complete, and accurate. The Customer undertakes to inform the Company immediately of any changes through the Company’s official channels or application.
  2. The Customer is the true beneficiary and actual owner of the electronic funds in the Wallet.
  3. The Customer has reviewed and understood the mechanism of the TaifPay Services and all related guidance.
  4. Company records are certified and constitute official evidence in the event of a dispute.
  5. The Services are subject to the laws and regulations of the Republic of Iraq and the Central Bank of Iraq.
  6. The Wallet is linked to the Customer’s registered mobile phone number.
  7. The Company and/or Agent may charge transaction fees deducted from the Wallet balance in accordance with applicable regulations.
  8. The Customer acknowledges transaction limits imposed by regulatory authorities.
  9. The Company is not responsible for rejected transactions not attributable to it.
  10. The Customer bears responsibility for erroneous transfers.
  11. The Company is not liable for damages resulting from Customer breaches.
  12. The Company may amend terms, fees, and pricing with notice.
  13. Dormant Wallets require reactivation per Central Bank instructions.
  14. The Card is Company property, issued for personal use only.
  15. The Company may suspend or close the Wallet or Services as required by law or authorities.
  16. Iraqi law applies, and Baghdad/Karkh courts have exclusive jurisdiction.
  17. Electronic acceptance is legally binding.
  18. All intellectual property belongs to the Company.
  19. The Wallet and Card must not be used for Prohibited Activities.

Clause Four / Miscellaneous Provisions

  1. The Customer is responsible for fraud-related disclosures.
  2. PINs and access credentials are confidential and treated as legal signatures.
  3. The Customer must notify the Company immediately of SIM loss or number change.
  4. Inactive Wallets for one year become Dormant Wallets.
  5. The Company will refund balances if Services cease.
  6. The Company will suspend Wallets upon Customer death pending legal documentation.
  7. The Company commits to safeguarding Customer data confidentiality.

Confidentiality

  • The Company shall maintain confidentiality except as permitted by law or regulatory authorities.
  • The Customer authorizes disclosure when required for Services, regulatory compliance, or promotions.

These terms and conditions have been drafted in Arabic, English, and Kurdish, with the Arabic version being the authoritative text for interpretation and clarification.