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Key Facts Statement Consumer Wallet

Key Facts Statement
Consumer Wallet

Table of Contents

With Pay10 Wallet, you can easily send, receive, and make payments to participating merchants and other Pay10 users anytime, anywhere, using your mobile device.

Introduction

Product NamePay10 Wallet
TypeDigital Payment Solution
Supported CurrencyBahraini Dinars (BHD)
Eligibility
  • Bahrain Citizens & residents aged 18 years and above
  • Valid Bahraini ID (CPR)
  • Valid Bahraini mobile number

Note: Users must provide accurate and complete information during account registration and KYC verification.

Key Features
  • Digital wallet for secure online and offline payments
  • QR code-based payments (Scan & Pay)
  • Peer-to-peer money transfers
  • Merchant Payments
  • Bill payments and utility recharges (Coming Soon)
Account Opening
  • Free account opening
  • KYC verification required through Bahraini CPR
  • Additional documents are mandatory requirements as per regulatory guidelines
Fee and Charges
  • Account Opening: Free
  • Annual maintenance: Free
  • Wallet top-up:
    • Wallet top-up: Fees BHD 0.100 + 10% VAT
  • Self-Withdrawal (to Bank Account): Free up to BHD 100 and above BHD 100, BHD 0.100 + 10% VAT Fee applies
  • Transfers
    • Pay10 Wallet to Pay10 Wallet: Free & Instant
    • Pay10 Wallet to Bank Account: Fawri+ Less than 100 BHD: Free & Instant
    • Fawri+ 100BHD to 3,000 BHD: 110 Fils per transaction & Instant.
    • Fawri transaction of more than 3,000 BHD, 110 Fils & 1 business day.
  • Bill Payments (Coming Soon): TBD
  • Payment for Purchase: Free
  • Estimated Transaction Timeframe:
    • Local Transfers: Real-time
Transaction Limits
  • Maximum wallet balance: 2,500 BHD
  • Daily transaction limit: 2,500 BHD (TBD)
  • Monthly transaction limit: 2,500 BHD
  • Limits may vary based on KYC level and regulatory requirements

Note: Pay10 reserves the right to modify wallet and transaction limits based on risk assessments or regulatory requirements.

Security Features
  • Two-factor authentication for all transactions
  • Biometric login (fingerprint/face recognition) where supported
  • Real-time transaction & fraud monitoring
  • Option to freeze & close/delete wallet account

Note: Users must notify Pay10 immediately if they suspect any unauthorized use of their account or credentials.

Customer Support
  •  Support center: 24 Hours (7 days a week)
  • 24/7 Support Center: 800 100 10
  • Email: support@pay10.bh
Complaints and Dispute Resolution
  • Complaints may be lodged through the support center or by email
  • Resolution timeframe: up to 2 business days for most issues
  • Escalation process available if not satisfied with the resolution

Important Notes

  • Funds in Pay10 Wallet are not interest-bearing
  • Pay10 is licensed and regulated by the Central Bank of Bahrain as an Ancillary Service Provider.
  • Your consent is required for data sharing with third parties.
  • You have the right to withdraw consent for data sharing at any time.
  • Pay10 has the right to change the terms and conditions of the product, with 60-day notice for any changes.
  • This Key Facts Statement provides only indicative fees and charges. For the full and latest fees and charges, please refer to the website for the updated schedule of charges.
  • All fees are exclusive of VAT. Wherever applicable; VAT will be charged at prevailing rates in addition to the fee.
  • Pay10 disclaims liability for losses arising from unauthorized transactions caused by your failure to safeguard your credentials.

Warning

By using the Pay10 Digital Wallet, you acknowledge that:

  1. Your account may be suspended if you fail to provide the required documentation or if the information provided is inaccurate or incomplete.
  2. Pay10 may share your information with regulatory authorities in compliance with applicable laws and regulations.
  3. You are responsible for the confidentiality of your account information and for all transactions made through your account, you must always keep your Pay10 wallet credentials safe and confidential.
  4. If you see a transaction on your account that you do not recognize, or you think may be incorrect, you must contact us immediately via the call center or our website.
  5. You acknowledge that Pay10 will not be liable for any losses due to unauthorized use of your wallet if such unauthorized use results from your failure to keep credentials confidential

For full details, please refer to our Terms and Conditions available at https://pay10.bh/terms-of-service/