Please read this Agreement carefully before you sign up for a NassWallet account. By activating your account, you are entering into a legal agreement with NassWallet – for electronic payment services, in accordance to the terms and conditions set-out in this document. NassWallet reserve the right to change or amend all or any part of these terms and conditions. If there is anything you do not understand or agree with, please contact our Customer Service Professionals on +964 750 900 0900.
NassWallet is certified and regulated by the Central Bank of Iraq under license Number 10 issued on 9 June 2019.
Definitions
1. Service: the service is paying through mobile phone by connecting to the national switch.
2. Electronic payment service provider: NassWallet is an authorized electronic payment service provider through mobile phones certified by the Central Bank of Iraq.
3. Subscription contract: is the terms and conditions and any other extensions that confines the relationship of the company with the agent or client.
4. Agent or client: an individual that opens a wallet in their name and the signs these terms and conditions.
5. E-wallet is a virtual account opened under the name of a customer by a service provider through an agent to enable them to execute transactions via mobile phone.
6. Electronic money is the cash saved electronically and issued when cash is received in the same currency and value and is to be a mean of loyalty exchangeable between the parties involved electronically.
7. E-logs: the register or contract or letter of information created or sent or received or saved by electronic means.
8. Password: a sentence or numbers or symbols formed by the client to access the services and enables the service provider to confirm the identity of the client or customer.
9. Confidential data: all information to the client/wallet holder’s personal data, transactions, password and so on. the
10. OTP: one-time password that is used for the purpose of verification to access the system or for a small period of time. For your security OTP expires after a short while period to ensure it is not used again.
11. Bank: The Central Bank of Iraq that represents the sector responsible for the issuance of work license and instructions for electronic payment companies as well as supervising and monitoring these entities.
12. Main agent: the authority or legal personality or the normal person or business that recruits sub-agents to implement contracts and provide services to clients and customers.
13. National Switch: an electronic system operated and supervised by the Central Bank of Iraq in which banks, companies and beneficiaries are registered in for the purpose of exchanging financial operations. Through it, the net worth of financial centers is extracted and credited as appropriate to the accounts of banks or settlement banks and all processes executed through it are documented.
14. Instructions of combating money laundering and terrorist financing: instructions issued by the office of combating money laundering and terrorist financing to electronic payment service providers through mobile phone and their agents.
15. Customer Due Diligence: is the process of acquiring the agent or client’s information, checking and evaluating this information by independent, trusted parties to identify the agent and connect them to the reports of suspected activities if found.
Responsibilities and duties of NassWallet towards Customers and Subscribers
1. Provide the service agreed upon by rules and regulations and instructions of Central Bank of Iraq according to these terms and conditions.
2. Protect and withhold Customer data and not to disclose it to any other party, unless authorized to do so to the security or legal agencies of the State on the formal request of Central Bank of Iraq.
3. Company holds the right to take precautionary measures needed and any instructions by the Central Bank of Iraq and abide by the law of combating money laundering and terrorist financing.
4. NassWallet to receive earned commission for the financial transactions performed by the client when using the payment services through mobile phone.
5. NassWallet holds the right to inform the customer of available balance at the end of each transaction performed.
6. NassWallet commits to returning the money to the clients in case the wallet closure according to the procedures outlined in the legislation.
7. NassWallet commits to terminating service subscription contracts based upon the request of the client whenever requested without charging them any fees and Nasswallet holds the right to take necessary measures to return the money to the clients after notifying the agent in writing by paper or electronically about terminating the contract or agreement and executing the shutdown of the wallet and disconnect the wallet from the phone number within one day.
8. In case the operating company (Korek Telecom) needs to make a change to your subscription number or reinstate it due to executive decisions or for any reason, NassWallet is responsible of saving the account of the subscriber where possible, by converting the account to a new phone number and if not possible, NassWallet will pay the remainder of the balance to the subscriber in cash.
Client/Customer commitment to NassWallet:
1. Client must commit to providing the correct and authentic data, information and documents. It is the sole responsibility of the Client/Customer to provide genuine documentations and identifications which they will be held legally responsible for upon signing the contract and terms and conditions with NassWallet.
2. Client must have an understanding to the mechanism of the services and any guidelines printed or published on the company’s website.
3. The client approves that all the company e-logs are certified and bound to them and they have no right to oppose them in front of any party. Client must approve the consideration of the logs that are saved and extracted on the company’s system and the national switch for all operations and transactions operated through national switch is the log used in case of conflict.
4. Client commits to viewing the payment instructions through mobile phone and work-frame and the instructions of the Central Bank of Iraq.
5. Client deems company irresponsible for any unexecuted or rejected operations for reasons out of their control or due to the operating systems.
6. Client is fully responsible of keeping the wallet pin codes secret and safe and not reveal it to anyone.
7. NassWallet holds the right to make change to the terms of use and the fee at any time and without further notice - the changes will be announced through text messages or through Nasswallet website and this announcement will be considered official.
8. Client agrees that company holds the right at all times to amend the terms and conditions of this service without stating the reason and that includes service prices, and being notified of this change by text message or any form of contact it perceives to be adequate.
9. Company holds the right to terminate the contract immediately in case company is unable to perform due diligence for the client as per the instructions of the Central Bank of Iraq.
10. By subscription contract the client authorizes the company to restrict and deduct money from their e-wallet account to settle any operation or fee or commissions. If the balance available is not enough to cover a transaction then the company holds the right to reject the process.
11. All operations conducted by the client on NassWallet are final and non-changeable and the client cannot ask the company to stop or reject any operation or transaction performed by them.
12. Client approves to allow direct contact and receive promotional messages on their mobile phone of the company services.
13. The client admits that the service provided by the company can be interrupted at any time whether due to technical e-wallet system error or mobile phone service provider error or due to maintenance. The company will work on fixing the errors as soon as possible and the company is not responsible for compensating the client for any direct or indirect damage that may happen during this interruption.
14. These terms and conditions cannot be transferred in its entirety or part to anyone else by the client or customer.
NassWallet Client and Customer Service Centers:
1. If a client of NassWallet wishes to discuss any matter regarding the application or services provided by the company they can call customer service number located on the company’s website or through any form of contact mentioned in the website or through visiting sale centers or authorized agents.
2. Services provided by Nasswallet for the clients and customers are available 24/7
3. Besides the aforementioned in these terms and conditions agreement all the notifications to be sent to the client or service receiver will be considered official notifications.
4. All correspondence and text messages are considered an official notice sent by NassWallet to the client and are considered received once sent.
5. In case of any complaint about the services provided by NassWallet, the Client must contact the service center immediately on the phone numbers provided on the company’s website or by visiting the nearest customer service center or nearest authorized agent and the complaint will be replied to within 5 working days.
6. The client holds the right to call the company’s complaint center privately and free of charge and 24 hours a day
NassWallet conditions of fees
1. NassWallet commits to announcing its prices of the services and the types of wallet in multiple ways such via the Nasswallet website, text messages, promotional materials to subscribers or through flyers that will be put on display at agents and authorized distributors premises.
2. NassWallet holds the right to change or amend any price or fee of the products or services provided to the clients without prior notice and the client acknowledges and accepts these prices can change from time to time.
3. NassWallet client commits to paying the service and the fees and withdrawal and deposit fees and transferring and any other fee for the service provided by the company to them and which will be deducted by the company from their balance in the wallet directly for any transaction the client makes.
4. Any instructions issued about using the e-wallet presented by NassWallet and any fees enforced by the Central Bank of Iraq will be considered as part of this agreement and those fees will depend on the different services and they are subject to change from time to time.
5. The subscriber is responsible for all required fees and any transaction done with their private pin code including calls and other ongoing operations on Korek Telecom using the mobile phone whether they are done by the subscriber or another person with the subscriber’s knowledge or without. Furthermore, subscriber is responsible for all incoming and outgoing fees.
6. By these terms and conditions and after the success of every transaction the client will receive a text message or confirmation on the application of the success of the transaction with the updated available balance.
Terms of closing down a client's wallet
1. After activating the wallet, this agreement remains active until terminated by the client or NassWallet.
2. The client can terminate e-wallet services provided by NassWallet and terminate this agreement any time after submitting a written application to any of the customer service centers or by calling customer service center and thus termination will take place after the necessary procedures are carried by NassWallet and after all financial settlements have taken place.
3. Company holds the right to terminate or shut down a wallet or suspend services partially or fully or shut down an account or suspend the use of the pin code without holding the company responsible no matter the reason and without the need to inform or give prior warning to the client or any legal measure can be taken against it in this case and under these circumstances:
a. If these terms and conditions were violated.
b. If company suspects and discovers a sign of danger or fraud.
c. If client has given false or incomplete and incorrect or misleading data.
d. If there is security fears regarding an account including credentials.
e. If company suspects unauthorized use or fraud occurring in your account or to your payment information.
f. In case NassWallet has a reason to believe that your mobile phone or your SIM card or your secret pin code have been used to acquire NassWallet services is being used without authorization or in an illegal way or inappropriate way or is being used for fraud or illegal activities (or has been used in such ways before).
g. If any legal or governmental party has directly put your account under investigation or is taking standard or executional measures against the subscriber, or for any other reason, NassWallet rightfully sees that it will cause damage to the commercial reputation of NassWallet.
h. In case subscriber does not commit to any of the terms and conditions or the systems or the instructions related to using NassWallet including these terms and conditions.
i. In case a subscriber notifies NassWallet with the loss of their mobile device or that the pin code has been stolen or released to anyone else.
j. When receiving request from subscriber to terminate subscription.
k. In case phone number of subscribers is inactive.
4. The credit available in the account belongs to the subscriber and is inherited by the legal heirs by judicial decision in the event of the subscriber’s death.
5. In case of remaining balance in your account after the termination, upon request, the company will fully return the money and you may request it in cash.
6. Client admits that in case the wallet is not used for a full year from the last date of use, the wallet will be frozen according to the related legislation and instructions of the Central Bank of Iraq (frozen wallet) and in case client wishes to reactivate the e-wallet, they, or the person representing them, must visit the company or one of its authorized agents to reactivate it.
Exceptional circumstances
The company tries its best to present good, secure services to its clients and the company will not be responsible for any error or interruption of service or any other events out of the company’s control due to extreme circumstances or by a third-party error or by neglect of the client or service abuse by the client.
The scope of applicable law and Jurisdiction
The terms and conditions of this agreement are subject to the laws of Iraqi courts and any dispute arising due to these terms and conditions exclusively is subject to the supreme and judicial jurisdiction of the Iraqi court. All provisions of the conflict in this agreement will be applied according to the Iraqi laws.