Deferred Payment Agreement (Malaysia)
1. This Agreement
1.1 This Deferred Payment Agreement (the “Agreement”) is between you as a purchaser or user (“you”, “your”), and us as the provider (“we”, “us”, “our”), of services or products (as the case may be) (the “Merchant Services”) and applies only in the event you choose to pay for Merchant Services with us on a deferred and interest free basis (“Deferred Payment Structure”).
1.2 By selecting the Deferred Payment Structure in relation to your payment for Merchant Services with us, you agree to be bound by the terms of this Agreement.
1.3 The terms of this Agreement are in addition to and supplements our own terms and conditions (“Our Terms”) that you are bound to for engaging with us.
1.4 The Deferred Payment Structure is a means of payment of your obligation to pay for the Merchant Services provided by us under Our Terms.
2. The Deferred Payment Structure
2.1 To offer this Deferred Payment Structure, we utilise the services of a third party technology service provider, APaylater Sdn. Bhd. (“APaylater”), doing business as Atome (“Atome”). Atome develops, maintains and operates the Atome website (including any subdomains thereof), mobile applications and application program interfaces (the “Platform”) to facilitate the administration of the Deferred Payment Structure.
2.2 In order to use the Deferred Payment Structure, you must meet the eligibility requirements of Atome by accepting Atome’s Terms of Service (“Atome Terms”), available for review on the Platform, including:
2.2.1 You have created, and maintain a valid and active account with Atome for use of and access to the Platform (“Account”);
2.2.2 You are an authorised holder of your chosen payment method accepted by Atome from time to time (“Payment Method”); and
2.2.3 You have met, and continue to meet, the eligibility requirements of the Atome Terms.
2.3 The approval of your use of the Deferred Payment Structure for each transaction will be at the sole discretion of ourselves, Atome and/or any factor identified by Atome (“Assignee”) in each instance.
2.4 For every transaction using the Deferred Payment Structure, the purchase price payable by you for the Merchant Services shall be irrevocably assigned by us to the Assignee. Upon such assignment, the Assignee will determine and inform you, via the Platform, of (a) your total payment amount; (b) the due date(s) of the whole or part of your payment amount (“Payment Schedule” and the payment to be made at a due date, the “Deferred Payment”); and (c) your preferred Payment Method. You must review, confirm and accept the above information (“Payment Schedule Confirmation”). These details are also available for view in your Account until you have fully repaid the Deferred Payment. Your Payment Schedule and your Payment Schedule Confirmation are both hereby incorporated into this Agreement.
2.5 Once a transaction under the Deferred Payment Structure is approved and completed as per clauses 2.3 and 2.4 above, you agree to pay and accept sole liability for the full amount of the Deferred Payment. Your preferred Payment Method will be charged in accordance with your Payment Schedule for collection of the Deferred Payment.
2.6 You acknowledge and agree that after the approval of the Deferred Payment Structure pursuant to clause 2.3 above, we may sell and irrevocably assign to the Assignee our rights to receive the outstanding Deferred Payment. Upon such assignment, you acknowledge and agree to the Assignee collecting (by itself or through its agent) the Deferred Payment assigned by us.
2.7 If the Deferred Payment is not paid nor successfully processed on or before the relevant due date as specified in your Payment Schedule (including if the Payment Method is declined), you will be immediately suspended from the Platform and your Account may be deactivated (“Suspension”). We shall not be responsible or liable for any losses associated with the default of your payment obligations pursuant the Deferred Payment Structure.
2.8 If applicable, in the event you are responsible for keying in the correct amount for your aggregate payment obligations for the Merchant Services and you make a mistake, you may immediately request a refund. Please note that refunds are subject to clause 4 below.
3. Deferred Payment Authorisation
3.1 The Deferred Payment will be automatically charged to your preferred Payment Method in accordance with your Payment Schedule. You therefore hereby expressly consent to, authorize and instruct us, Atome and any Assignees (with or through any third party payment processors or providers) to initiate recurring debit card, or credit card and/or other types of payments from the preferred Payment Method in your Account for the Deferred Payment on the due date set out in your Payment Schedule.
3.2 You acknowledge that you are giving us, Atome and any Assignees (with or through any third party payment processors or providers) the ability to collect or reverse variable payment amounts from or to your Payment Method, in accordance with your Payment Schedule and the terms of this Agreement.
3.3 If your Account is subject to Suspension for late or rejected payments, you expressly consent to, authorize and instruct us to charge your preferred Payment Method and/or any other designated debit card or credit card to collect the total of any missed Deferred Payment at any time after the due date of the missed Deferred Payment. You agree that we may appoint third party collection agencies to collect any amounts owing to us under this Agreement without further notice to you.
4. Refunds
4.1 Any requests from you for refunds, returns, replacement, or waivers of payments for Merchant Services settled or to be settled under the Deferred Payment Structure shall be approved by us in accordance with our applicable refunds policy.
4.2 Any payments to be made to you in association with any refund, returns, replacement, or waivers of payments approved by us are processed by the Platform and are additionally subject to Atome Terms as well as the terms and conditions of your preferred Payment Method.
5. Complaints and Disputes
5.1 If you have a complaint about Atome or the Platform arising out of or related to the Deferred Payment Structure, please follow the dispute resolution mechanisms set out in the Atome Terms.
5.2 If you have a complaint about us arising out of the transaction for which you chose to use the Deferred Payment Structure, please follow the dispute resolution mechanisms set out in Our Terms.
6.1 In the event of any inconsistency between the terms of this Agreement and any other terms between you and us in respect of the purchase by you of Merchant Services via a Deferred Payment Structure that is the subject matter of this Agreement, this Agreement shall control and govern the rights and obligations of the parties, unless stated otherwise.
6.2 Other than Atome or the Assignee, a person who or which is not a party to this Agreement has no rights to enforce any term of this Agreement.
6.3 This Agreement is governed by, and will be construed under, the laws of Malaysia, without regard to choice of law principles. The application of the United Nations Convention on Contracts for the International Sale of Goods is expressly excluded.