Terms and Conditions

These terms and conditions (T&Cs) govern your Relationship with Hubpay (Private) Limited and (or) use of its services. To proceed with the relationship and (or) use of services, you must carefully read, understand, and explicitly acknowledge these T&Cs. The T&Cs form a legally binding agreement between you and Hubpay (Private) Limited. These T&Cs may be subject to changes from time to time by Hubpay based on different factors such as business and operational considerations, consumer protection measures, legal and regulatory changes etc. In case of any changes, Hubpay shall intimate the same to you, if you do not agree to the changes we have made, you may contact us for closure of account (relationship), or cessation of any other services opted. Note that there may be certain changes in the terms for which you may be asked to provide explicit consent. In such a case, you may not be able to use the services unless the specific consent has been received by us. These T&Cs shall be placed on our website and in the application for your review and reference. 

• To enter relationship with M/s Hubpay and (or) avail our services, you confirm and agree that you are at least 18 years of age and are legally competent to enter into this legally binding agreement (through acceptance of Terms & Conditions) and use our services. Further, you agree to provide all necessary information and supporting documents, if any, including but not limited to your identity information and digital (or live) picture etc. at the time of registering for our services and during the course our relationship. You also confirm that the information provided by you is accurate and true. Further, you shall be responsible for intimating any changes in the previously provided information and (or) documents recorded and shared with Hubpay within a reasonable time. Failure to do so may result in termination of services and other necessary actions as required under the legalisation and regulations. 

• Hubpay shall allow only one Wallet Account against each valid CNIC and MSISDN. However, this does not restrict you from opening and maintaining account relationships with or use of the service of other FIs. 

• Your Wallet Account with Hubpay holds e-money which enables you to use our Payment Services. Your Wallet Account shall be denominated in PKR which shall remain the currency of your Wallet Account during your operation of the Account and (or) use of Service.

• To open and operate a Wallet Account with Hubpay or avail other services, you may be required to provide certain identity and other information including necessary documents to support and confirm the same in accordance with the relevant Anti-Money Laundering & Countering Financing of Terrorism (AML/CFT) Laws, Rules, Regulations and Hubpay’s internal AML/CFT program.  

• Your Wallet Account may only be activated, or You may only be allowed to use our services after verification of your particulars and pre-screening against designated and proscribed persons as per with the relevant Anti-Money Laundering & Countering Financing of Terrorism (AML/CFT) Laws, Rules, Regulations and Hubpay’s internal AML/CFT program. However, you may be allowed one credit/fund transfer transaction before verification of customers’ credentials.

• Hubpay Wallet Accounts (E-money Instruments) may be funded through.

  • Interbank Fund Transfers IBFT)

  • Cash Ins at EMI outlets, Agents Locations, Partner Financial Institutions.

• The E-Money in your Wallet shall be issued at par value on receipt of funds. Further, the same may only be redeemed at par value upon your request. 

• The E-money within Wallet Account does not expire and does not earn any interest, mark-up, or any other form of return.

• The E-Money held in a Hubpay Wallet Account shall, at all times, be backed by funds, which are held separate from our funds, in a trust account administered by a Trustee Financial Institution in accordance EMI Regulations.

Initial Transactional and Account Balance Limit

• The aggregate monthly load limit of an e-money payment instrument shall be PKR 50,000 on CNIC verification (NADRA Verisys) and PKR 200,000 on biometric verification from NADRA.

• Cash withdrawal limit for e-money holders shall be PKR 10,000 per day subject to biometric verification or at least two-factor authentication.

The limits shall be enhanced subject to State Bank of Pakistan (SBP) approval. 

Fees & Charges

• Use of Hubpay services shall be subject to fees and charges as per the applicable Schedule of Charges (SoC). The applicable SoC shall be placed on Hubpay’s website at all times for knowledge and reference of our Wallet customers. Please note that, Schedule of Charges are subject to changes from time to time and any fee or charges shall be imposed based on the applicable schedule at that time.

• Any fee or charges shall be deducted from your Wallet Account, preferably and in most cases, at the time of availing service or executing a transaction and you hereby authorise us to do the same. If your Wallet balance is insufficient to cover the applicable fees or charges for a service availed, we may refuse to provide or execute the requested Service or the Transaction. Alternatively, Hubpay may provide the service or process the transactions and recover the charges once the balance is available. 

Liability & Indemnity:

• In no case shall Hubpay be liable to you for any losses, costs, and damages attributable to or arising out of.

• Your failure to keep your Password and (or) PIN, or other personalised security features of your Wallet Account safe in accordance with these Terms,

• if you fail to notify us without undue delay of any loss / theft/unauthorised use of Password or PIN or other event that could reasonably be expected to have compromised the security of your Wallet Account after you have gained knowledge of such event,

• if the Transaction was unauthorised but you have acted fraudulently or compromised the security of your Wallet Account with intent or gross negligence,

• if You fail to dispute and bring the unauthorised or incorrectly executed Transaction to our attention within a reasonable time from the date of the Transaction. The term reasonable time shall be construed in view of the relevant laws, rules, and regulations as applicable on the nature of dispute.

• any taxes, duties or other charges that arise from your use of the Hubpay Wallet Account or the Payment Services

• any disruption or impairment of our services or for disruptions or impairments of intermediary services on which we rely for the performance of our obligations hereunder, including but not limited to any act or omission by any Partner Institution, the Trustee, affiliate or third-party agent or service provider.

• any action or omission of Wallet Account pursuant to a direction of a Competent Authority

• your failure to comply with your obligations and responsibilities under these Terms and, to the extent applicable, the Policies.

• Without prejudice to the foregoing, you are asked to check the Transactions history of your Wallet Account regularly and frequently, and to file a dispute by contacting Customer Services immediately in case you have any questions or concerns.

• In the case of any incorrect or misdirected payment, we shall take reasonable measures to assist you with tracing and recovering such payments.

• You acknowledge that you will not be able to countermand any instruction or Transaction given or conducted through Debit Card or biometrics at the Automated Teller Machine (ATM) of a Partner Institution, Hubpay Outlets and Agents, once the same has been processed.

• We shall not be liable for any indirect or consequential losses including but not limited to loss of profit, loss of business and loss of reputation. We shall not be liable for any losses arising from our compliance with Applicable Laws.

• Termination and Suspension of Services:

  • Your account shall be subject to monitoring to ensure compliance with sanctions obligations and fraud prevention as per relevant Laws, Rules and Regulations and internal policies. 

  • We may, terminate, temporarily suspend and/or temporarily limit the functionality of, your Wallet Account and (or) the Services opted through Hubpay, without notice, if:

    • required by the order of a Competent Authority or in compliance with Applicable Laws (including those pertaining to AML/CFT/KYC/CDD).

    • you breach any condition of these Terms of Use or any changes to it. 

    • we reasonably suspect that an unauthorised or fraudulent use of your Wallet Account has occurred or that any of its security features have been compromised.

    • you violate or we have reason to believe that you are in violation of Applicable Laws; or we have reason to believe that you are in any way involved in any fraudulent activity, money.

• Complaints & Disputes

  • Customer complaints and disputes shall be governed by relevant regulations and internal policies and framework for complaints handling and dispute resolution. A copy of which shall be placed at all times on our website. 

  • Any complaints or disputes about us or our services may be raised by contacting Customer Service Helpline. Once filed, we shall send an acknowledgement of the compliant or disputes filed with us within a reasonable time of its receipt in accordance with our Complaints and Dispute Handling Mechanism.