Payday Financing

This Agreement is a contract between You and BFC Payments B.S.C. (C) which is the operator of BFC PAY mobile application. By availing Financing throughthe BFC Pay mobile application means that you have accepted all the terms and conditions contained in this Agreement.

  1. General Terms and Condition

    1. You agree that by using the services and products provided or offered by BFC Payments B.S.C. (C) and you confirm that these Terms and Conditions have been received, reviewed, understood and agreed by you.
    2. Under these T&C, the terms “BFCP”, “we”, “us”, and “our” refer to BFC Payments B.S.C. (C), a closed joint stock company incorporated in the Kingdom of Bahrain under commercial registration number CR 121852 and licensed by the Central Bank of Bahrain (CBB) as an Ancillary Service Provider; and having its registered address at Shop No. 303, Building 150, Road 1507, Block 315, P.O. Box 243, Manama, Kingdom of Bahrain
    3. These Terms and Conditions shall be considered as an integral part of the terms and conditions of any product and BFC Pay App, service or facilities granted to you by us and shall be read in conjunction to the existing terms and Conditions of different products (whereverapplicable) and Privacy policy of BFCP
    4. The terms “User”, “you” and “your” refer to users of the Service, as Account Holders, Senders, Recipients, and other applicable users of the Service.
    5. These T&C shall be effective, valid and binding from the time that you agree to it or the time you use any of the Services and will be in full force and effect up to the time that it is terminated by you or us, save for some provisions which shall remain effective after termination, as stated in this T&C, under any applicable law, rule or regulation.

  2. Definitions Of Terms

    1. BFC Pay: Means the BFC Payments Mobile Application installed on the User’s smartphone, which is mobile payment software that facilitates payments to merchants and money transfers in addition to providing other products and services such as financing through its partner/partners
    2. Financing:Financing means any credit service offered by the Finance Service Provider
    3. Finance Service Provider: Means any BFC Payments partners who are responsible for offering financeproductsthrough the BFC Pay application
    4. Lien: Means withholding a particular amount due to some reason
    5. Wallet: means the mobile wallet issued to the user and maintained with BFCP on the App. It is a stored value account with the ability to load the digital wallet through Bank ATM card via PG or third-party applications.
    6. “Call Centre” refers to the customer care telephone helpline and email provided by BFCP for the App.
    7. “Dispute” means any contentious matter reported by a User to BFCP related to afinancingfinancial transaction on the App.
    8. “Merchant” means the entity/person that receives the payment through the App in exchange for rendering assets/ services to a User.
    9. “Payment Instrument” means the tool used for making payments on the App, issued by BFCP or by a User’s Bank i.e., debit / credit card or bank account.
    10. “Transaction” means the process carried out between a User and a Merchant or Financing Service Provider for financing services.
    11. “User” means any person who uses the BFC Payments Mobile Application for accessing any of the services or products such as financingproduct provided by financing service provider on the BFCP app
  3. BFC Pay Services
    1. BFC Pay Account
      1. The BFC Pay Account is a reloadable electronic wallet that stores Bahraini Dinar redeemable only at face value.
      2. The value loaded into the BFC Pay Account may be used to purchase services via In-app, or other applicable payment channels. It shall not earn interest nor monetary rewards and other similar incentives convertible to cash, nor shall any monetary amount be purchased at a discount. It is not an interest earning depository account. It should be treated as a personal account of the Account Holder and should not be used to engage in the business of remittance or for any other business purposes, except upon execution of a written agreement with BFC Pay allowing such. It is subject to the rules and regulations of the CBB, the Anti-Money Laundering Act (Decree Law No. (4) of 2001), Personal Data Protection Law (Law No. 30 of 2018), and other applicable laws and regulations in the Kingdom of Bahrain; wherein penalties and consequences arising from violations to the rules and regulations of CBB, and other governing bodies made by the Account Holder shall be under the liability of the Account Holder.
    2. Eligibility user must be a resident of Bahrain having a valid CPR and must have attained 18 yearsof age for availing the services. The upper limit of the age would be defined basis financing service provider requirement. Any person shall be required upfront to download & register with BFCP on their mobile smart phone. The App will link with the profile provided /confirmed by the User at the time of registration and will be associated with the registered mobile number of the User.You are eligible to hold only one wallet account with BFC Pay at any given time. To get the WPS services on the wallet, you must initiate or update the registration through your authorized employer.
    3. To use any of the Financingservices, User should have a BFC wallet account
    4. You explicitly consent that by proceeding with the financing application at BFCP, your information may be shared with the Bahrain Credit Reference Bureau (BCRB) and other authorized credit bureaus, government entities, and BFCP Partners for the purposes of credit assessment, fraud prevention, and regulatory compliance as required by the Central Bank of Bahrain and applicable laws. This includes obtaining and sharing your credit information for evaluation of creditworthiness and ongoing credit monitoring.
    5. You agree to provide BFCP with consent to auto debit your wallet account to recover financing dues or any amount post due date (if applicable)
    6. BFC Pay Account Terms
      1. Your Wallet Account is an e-money account. You acknowledge that Your Wallet Account is not a bank account. There is no overdraft facility available in Your Wallet Account.
      2. BFC Pay is constantly innovating to provide the best possible experience for its users. You acknowledge and agree that BFC Pay may make new services available to You. We will notify You of any amendments to the Agreement resulting from the introduction of new services by email or by providing a link to the updated Agreement at least thirty (30) days prior to the new service becoming available.
      3. You acknowledge and agree that BFC Pay may stop providing the Wallet Services to You as provided in the Agreement. You may stop using Wallet Services at any time. You do not need to inform BFC Pay when You stop using the Wallet Services.
      4. We may restrict access to Your Wallet or Card Account while We complete any pending investigation or resolve a pending dispute or financing recovery of amount as agreed in the financing offer, subject to providing you with prior written notice except in cases of suspected fraud or regulatory requirements. We also may hold the funds in Your Wallet Account as required by law or court order or if otherwise requested by law enforcement or any governmental entity.
      5. For the facilitation of the foregoing, Your Wallet Account will show the Available Balance only. You will only be able to use funds showing in your Available Balance for payments and transfers from Your Wallet Account minus the fund which has been marked as Lien or hold
      6. BFC Pay may refuse to execute any transactions or orders or other use of the services if BFC Pay has reasonable grounds to suspect fraud, a breach of the applicable Agreement by You or a violation of law.
      7. Transactions may also be delayed due to BFC Pay’s or a third party’s compliance with its obligations under applicable anti-money laundering legislation, including if BFC Pay or the relevant third party suspects the transaction involves fraud or any other financial crime. If BFC Pay refuses to execute a transaction or order or other use of the services, you will be notified and We will provide You with objectively justifiable reasons for the refusal, unless it is unlawful for BFC Pay to do so or would compromise reasonable security measures. Funding, payments and transfers are displayed in Your Wallet Account, and You should check Your Wallet Account balance and transaction history regularly. You should report any irregularities or clarify any questions You have as soon as possible. We will provide You with a history of the transactions that You make under this Agreement at least once per month free of charge, including details of the amounts, the fees, charges and commissions, the dates and times of execution and the reference numbers for each transaction.
    7. Identity Verification
      1. You agree to present BFC Pay Your valid National ID, Your ID number, and Expiry Date or any other PII data when requested. You authorize BFC Pay, directly or through authorized third parties or third-party technology solutions, to conduct identity verification in accordance with CBB regulations and Bahrain's AML requirements. This includes verification through the Information & eGovernment Authority (iGA) and other authorized verification channels. This may include asking you for further information or documentation, like photos of your face, recorded video of your face or additional documents to verify the identify
      2. You Agree our authorized person can contact / visit you to complete the verification process of your identity through direct interaction.
      3. You also agree to perform KYC at Financing service provider/ Third Party service professionals or providers in case requested for underwriting or credit check.
    8. Third-party service professionals or providers
      1. We engage third party service providers in accordance with Bahrain's Personal Data Protection Law (Law No. 30 of 2018). All such providers are contractually bound to maintain confidentiality, implement appropriate security measures, and process personal data only as instructed by us. Any cross-border transfer of personal data will comply with the data transfer requirements under Article 12 of the Personal Data Protection Law, in relation to the services provided by Us on the Platform. These third-party service providers may use Your personal information in assisting Us to communicate with You about Our offers, feedback of Services, assisting in payment facilities, providing customer support, assisting in advertising on the Platform etc. We may employ third party companies and/or individuals to help improve or facilitate our service, to provide the Service on our behalf, to perform platform-related services, including but not limited to: payment processing, maintenance services, fraud detection services, database management, web analytics, monitoring, delivery/logistics and evaluation services. In this event, your information may be sharedwith such third-party companies and/or individuals.
      2. Current third-party Services that collect and process data
        1. Identity verification services that collect images, videos and documents to verify customer identity.
        2. Customer behavior analytics services that collect and analyze behavior data and device data
        3. Marketing attribution services that collect and optimize customer data from marketing platforms
        4. Underwriting for Financing
      3. Any disbursement of any financing or facility is conditional upon the receipt of all documents requested by BFCP Partner or confirmation from BFCP Partner that their requirements have been satisfied, as well as payment of all applicable fees and charges. BFCP has no say on the underwriting or any condition pertaining to the financingsanction.
      4. Statement You acknowledge and agree that not receiving the account statement does not excuse You of Your obligation to make payment of the amounts due on Your financing to Us. You can find out the available balance and statement of the financingby accessing the BFC Pay App. In the event you disagree with any amount charged to Your Payment Card or Wallet account as indicated in the statement, you must communicate the same to Us by reaching out to our customer support service within 7 days of showing such transaction on the statement. We will investigate and respond to your dispute within 30 days as per CBB consumer protection requirements. if the transaction concerning such an issue is not successfully disputed with the transaction processing bank or the biller.
      5. Other service terms
        1. User authorizes BFCP to store certain data of the payment instruments and transaction history and information
        2. The User shall not hold BFCP responsible for any Dispute arising from any purchase of goods/services from any Merchant or Financing service provider through Transactions initiated through the App or fund transfers to any beneficiary. The User understands and agrees that all such claims, if any, shall be against such Merchant(s) or Financing service provider and not against BFCP.
        3. BFCP does not warrant that the use of the App or its content will be uninterrupted or error- free and expressly disclaims all representations and warranties, whether express, implied or statutory to the extent permitted by applicable laws including any warranty of fitness for a particular purpose or merchant ability.
      6. WPS Wallet Type
        1. In the event of your existing BFC Pay account change to a WPS payroll account, which happens when your employer raises a formal request and subscribes to BFC Payments’ payroll services and we issue a BFC Pay WPS account to all requested employees, in such event, for an already registered BFC Pay account holder, we will be reusing the valid KYC documents submitted at the time of registration and post activation your account will reflect the threshold and limits of WPS payroll account. Similar process of downgrading to general purpose account from WPS account, will apply in case you are no longer receiving salary into your WPS payroll account from your respective corporate for a period of 6 consecutive months.
        2. Only WPS account types are eligible to access the Financing services through BFCP. However, this is subjected to the change basis market conditions and would be informed by BFCP accordingly
      7. Financing
        1. Financing amount, duration and underwriting and other terms pertaining to the financing would be governed by Financing Service provider
        2. Any Financing application Rejection or approval would be responsibility of Financing service provider and would be conveyed to BFCP which then be relayed to User through BFCP App
        3. Any Financing offers would be shown to the User by fetching it from Financing Service provider
        4. Provisioning of the Financing /Financing is the sole discretion of the Financing service provider
        5. In case offinancing default, after the expiry of the extended grace period and providing written notice, the matter may be referred to appropriate authorities in accordance with applicable laws of the Kingdom of Bahrain, including but not limited to civil and criminal proceedings as permitted by law.
        6. Any fees/VAT of financing to be shown upfront to the User and if the same would be deducted upfront or at due date would be at the sole discretion of the BFCP

      8. PERSONAL INFORMATION

        1. BFCP may collect and/or store the User’s personal data only to the extent and for the purpose(s) required and permitted under applicable laws and subject always to the prior consent of the User which can be revoked by the User at any time.
        2. BFCP will only share any personal or sensitive data with any third-party/Financing service Provider, in compliance with applicable personal data protection laws
        3. You authorize and give consent to BFCP to use the information for the purpose of market analysis, marketing and for statistical purposes.
        4. The Account Holder shall immediately notify BFC Pay via telephone, BFC Pay app or a written notice of any change in his/her Identify documents, or address and/or contact details/telephone number(s), which shall be subject to verification by BFC Pay through presentation of proper documents. The request shall be considered valid and final upon authentication of User, based on BFC Pay verification process. Verification process may be through mobile app or via email, or through call or face to face verification

      9. Your Obligations

        1. You agree to abide by the obligations stated under this section. You understand that failure to abide by these obligations is subject to BFC Pay applying suspension and/or termination of your BFC Pay Account, and proper reporting to the applicable authority of the laws, rules and regulations that govern BFC Pay
        2. You will pay all obligations, Service fees and Tax that may be imposed depending on the Service that you availed. BFC Pay has the right to deduct from your BFC Pay wallet account all monies that may be due and demandable by BFC Pay.
        3. Your primary email address and mobile phone number will be up to date so that BFC Pay can communicate with You electronically
        4. You agree not to alter, modify, or cause the alteration or modification, of the Services, without prior written consent from BFC Pay. You further agree not to use the Services for any commercial use, without prior written authority from BFC Pay.
        5. You agree not to gain or attempt to gain unauthorized access to any part or feature of the Services or to any other system or network connected to the Services. You also agree not to gather, harvest, or otherwise collect information about others using the Services without their explicit informed consent; nor restrict, prevent or prohibit any other party from using the Services, including but not limited to such actions which may tend to discourage others from using the Services, such as stalking, flaming or the lashing out at other parties, spamming or the sending of unsolicited information, advertisement or content, flooding or the sending of repetitive message, trolling or the use of insulting or deliberately divisive information, material or content, other forms of annoyances, and the like.
        6. You agree not to circumvent, disable, or otherwise interfere with security-related features of the Services, including those that prevent or restrict use or copying of any content, material or information available on or through the Services, as well as those that enforce limitations on the use of the Services
        7. You agree not to incorporate any word in your name, message identification, or custom user title that is defamatory, obscene or profane, or which violates any trademark, service mark, or other intellectual property rights of any third party, including that of BFC Pay. You likewise agree not to use any trademark, trade name, service mark, or logo in a way that is likely or intended to cause confusion about the owner or authorized user of such marks, names or logo.
        8. You undertake to provide us with: (a) true, accurate, current and complete evidence of your identity, and promptly update your personal information if and when it changes; (b) provide us with any identity documentations as may be requested by us; (c) provide us with details of one or more Payment Instruments; (d) provide us with true, accurate, current and complete information is required to receive the Service and any other information which may be required in relation to the Recipient; and (e) any other information that must be provided for the Service to be properly executed, as specified when you enter the details of the Service you are interested. You agree not to conceal your true name or use fictitious name, otherwise, BFC Pay may can take appropriate action against you through Law.
        9. Once You confirm the Transaction or ask BFC Pay to proceed with the Transaction, you agree that you may not cancel nor reverse such transaction. BFC Pay shall proceed with crediting the account with the financing amount requested and approved and once the money or fund is in the account, BFC Pay cannot reverse nor deduct such an account without the proper order from authority or Law.
        10. You agree not to use the Services for any purpose that is illegal, unlawful or prohibited by these Terms, or to solicit the performance of any illegal activity or other activity which infringes on the rights of BFC Pay or others, which includes but is not limited to 1) selling, leasing or giving your Account to a third party, 2) earning monies, goods or services by performing transactions using the Services for a third party, and 3) acting as a remittance agent using the Services. You further agree not to modify, rent, lease, financing, sell, distribute or create derivative works based on any content, material or information, either in whole or in part, available on or through the Services, unless you have been specifically permitted to do so by BFC Pay or by the owner of that content, material or information in a separate agreement.
        11. You agree that you are responsible for checking for update/s and will download such update/s to the BFC Pay App before use. You understand that certain BFC Pay App functions may not be available or disabled by BFC Pay if you do not perform the needed update.
        12. You shall not share any passwords, Personal Identification Numbers (PIN codes, password, OTP), IDs related to payment authorization or login details. The User acknowledges that any such disclosure shall be at the absolute liability of the User who shall be liable for any losses sustained because of such disclosure or by any act of negligence.
        13. All transactions initiated by the User from any Payment Instrument registered in theApp are the sole liability of the User. You agree and acknowledge that the use of the App is personal to the User and at his/her full risk and liability. The User may not assign it to anyone else.
        14. You will be responsible for losses resulting from your own negligence or willful misconduct. BFCP shall be liable for losses arising from its own negligence, fraud, or failure to comply with applicable CBB regulations, but shall not be liable for losses arising from unauthorized use or misuse of the App where BFCP has implemented appropriate security measures and followed regulatory requirements.
        15. BFCP shall implement and maintain appropriate technical and organizational security measures in accordance with the Central Bank of Bahrain's requirements, applicable laws including the Personal Data Protection Law (PDPL), international standards including PCI DSS, and industry best practices to protect the App and all related information including wallet/card holder and User data.
        16. For transfers/payments to accounts, the User authorizes BFCP to debit his/her e-Wallet based on a request initiated by the User through the App for the purpose of payment or transfer.

      10. Termination

        1. The User shall remain responsible for all financing transactions made through the App and the Wallet until such termination.
        2. BFCP may modify or terminate these Terms by providing at least thirty (30) days prior written notice to Users, to the extent legally and practically permitted. For material changes affecting User rights or obligations, BFCP will obtain User consent in accordance with applicable laws. Users have the right to terminate the service if they do not agree with the modifications.
        3. BFCP will provide notice if required by Law.
        4. The User accepts and understands that it is his / her responsibility to refer to the updated Terms and will have no right to make any claim against BFCP due to lack of his / her notification or consent to the changes made to the Terms, to the extent permitted by applicable laws.

      11. Warranties

        1. While BFCP implements reasonable measures to maintain service availability, we shall not be liable for service interruptions caused by circumstances beyond our reasonable control, except as required by applicable laws and CBB regulations. BFCP maintains business continuity and disaster recovery plans in accordance with regulatory requirements.
        2. The User shall remain responsible for all transactions made through the App and the Wallet
        3. We cannot give any undertaking that products or services purchased using the App will be of satisfactory quality, and any such warranties are DISCLAIMED absolutely.

      12. Indemnity

        The User agrees to indemnify BFCP against reasonable losses, damage, liability, costs and expenses directly resulting from the User's breach of these Terms and Conditions or willful misconduct, subject to applicable consumer protection laws and CBB regulations or the enforcement of the BFCP’s rights as herein provided. All costs expenses in such regard may be debited to the User account and shall be payable by the User.

      13. Privacy

        1. We process Your personal data in accordance with Bahrain's Personal Data Protection Law (PDPL) and as detailed in Our Privacy Policy, which is accessible through our website and App.You have the right to access, correct, and request deletion of your personal data as provided under the PDPL.
        2. Using the Service and the App, you consent to the collection and use of Your personal data in the manner set out in the Privacy Policy.
        3. If We decide to change Our Privacy Policy, we will post those changes on the Privacy Policy page so that You are always aware of what information We collect, how We use it and under what circumstances We disclose it. You should check the Privacy Policy frequently for changes. We will protect Your personal data and maintain its confidentiality including where it is held by an agent or third party on behalf of Us and ensure that We have in place and maintain adequate policies, procedures and controls.

      14. Governing Law:

        These Terms and Conditions and any amendments thereto from time to time shall be governed by and construed in accordance with the laws of the Kingdom of Bahrain and subject exclusively to the jurisdiction of the Bahrain Courts

      15. Disclaimer of Liability:

        1. BFCP will have no liability with respect to the acts, omissions, errors, representations, warranties, breaches or negligence of any such third parties, including but not limited to the Merchantselected by you, or for any personal injuries, death, property damage, or other damages or expenses resulting from your interactions with the third parties.
        2. You agree and acknowledge that the display of financing or other financial products, offered by third parties or financing service provider, on the BFCP app does not in any way imply, suggest, or constitute any sponsorship, recommendation, opinion, advice or approval of BFCP against such third parties or their financial/financing products.
        3. You agree that BFCP is in no way responsible for the accuracy, timeliness or completeness of information it may obtain from these third parties.

      Privacy Commitment

      BFC Payments B.S.C (Closed) is committed to protecting consumer privacy during the use of our digital products and recognizes our responsibility to hold your information secure and confidential. You can visit our website without telling us who you are or revealing any information about yourself. However, if you give us any personal information about yourself or others, we promise to treat it securely, fairly, and lawfully. Any information collected, stored or processed will be done in accordance with all applicable laws and regulations in all operating jurisdictions, including the EU’s General Data Protection Regulation and Bahrain’s Personal Data Protection Law. When we ask you for personal information online, it will only be in response to you using one of our online products or services, such as BFC Payments mobile application. We may use the personal information you provide for the purpose of providing more relevant content to you. This Privacy policy sets out the basis upon which any personal data we collect from you, or provided to us, will be processed by us. Please read this policy carefully to understand how your personal information will be treated. By submitting your personal details to us, you are deemed as agreeing to us using them in line and in accordance with the terms and conditions in this policy. Your personal data will only be processed in accordance with Bahrain's Personal Data Protection Law. Where your data may be transferred internationally, including to our partner FLOOS, appropriate safeguards and data transfer agreements will be implemented in compliance with applicable laws. This policy may be changed from time to time, so please read it periodically.