Beam Wallet

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Terms and Conditions

1. General warnings:

These terms and conditions apply to the use of Beam mobile app and international website.

The mere navigation on the Beam website and the use of the Beam app implies full and complete acceptance of these terms and conditions, so we recommend reading them before proceeding with your navigation or use. If you do not agree with these terms and conditions, please do not use the app or visit the website.

2. About us:

“Beam”, “Beam Wallet”, “we”, “us” and “our” means Beam AG, (Company Number CHE-269.902.729), a company incorporated in Switzerland, for the purposes hereof, headquartered at Sielva Management SA, Gubelstrasse 11, 6300 Zug, Switzerland.

More information about Beam can be found on our website.

3. Definitions and interpretation:

3.1. Definitions:

– Agreement: means this agreement and its schedules, together with any policies and documents that are incorporated by reference;

– Beam Account: means the account you open with us;

– Beam Account Holder: means a person who has opened and holds an account with us for use of the Beam Products;

– Adhering/Participating Establishments: refer to stores and other sales outlets that have an agreement with Beam, in order to enable payment for the goods and/or services they provide, through the app and Beam products;

– Beam Credits: refer to credits that are acquired by Beam account holders when making purchases of goods and/or services, through the use of our app, at participating establishments, which are immediately available and can be used in the same or another adherent establishment;

– Beam Loyalty Credits: means credits assigned to the Beam Account Holder free of charge by Beam on the terms and conditions specified by the Participating Outlet as a reward for customer loyalty in purchasing the goods and services of the Participating Outlet;

– Beam Discounted Credits: means redeemable credits (sold by Beam at a discount to face value of the relevant credit) to be purchased from Beam by Beam Account Holders and which are capable of being redeemed (at face value) against goods and services of the Participating Outlet;

– Beam vouchers: means vouchers in respect of specific goods and services offered for sale by the Participating Outlet, which vouchers are sold by Beam and are capable of redemption against the specific goods and services of the Participating Outlet to which they relate;

– Beam Products: means Beam Credits, Beam Discounted Credits, Beam Loyalty Credits, and/or Beam Vouchers available through your Beam Account app loaded on your mobile phone and/or your other wireless devices;

– Beam Transaction: means buying goods and services from a Participating Outlet and paying for such goods and services using the Beam Products;

– Chargeback/Return: means when the financial institution or payment services Provider, which issues or supports a Payment Method linked to the Beam Account of the Beam Account Holder for purposes of undertaking Beam Transactions, determines that the amount sent should be reversed or returned. The decision for a Chargeback is made independently by the financial institution or payment services provider which issues a Payment Method. We are bound to follow the instructions of that financial institution or payment services provider;

– Named Card/Nominated Card:  means the credit card and/or debit card that you linked to your Beam Account;

– Payment Method: means the named card or any other payment method offered or accepted by Beam;

– Prove your identity: means the process we undertake to verify your identity in connection with our obligations under the anti-money laundering, counter-terrorism financing laws and “know your customer” requirements. This process may require us to obtain information and documentation from you;

– Reversal: means when we place a hold on Beam Transactions through your Beam Account, because a financial institution or payment services provider which issues or supports a Payment Method reverses a payment it believes to be fraudulent;

– You and yours: means any Beam account holder who uses Beam products.

3.2. Interpretation: in this agreement, unless the context states otherwise:

– references to the singular mean plural and vice versa;

– headings are used for convenience only and do not affect the interpretation of this agreement;

– a reference to a document includes the modified document (if any) and any document replacing it;

– the word “person” includes a natural person and any body or entity;

– a reference to a thing includes a part of that thing;

– a reference to all or any part of a statute, rule, regulation or ordinance includes that statute, rule, regulation or ordinance as amended, consolidated, re-enacted or replaced from time to time;

– wherever "include" or any form of that word is used, it must be construed as if it were followed by "(without being limited to)".

4. Operation, amendments and newsletter:

4.1. This Agreement is a contract between you and Beam, setting out the terms and conditions which apply to your purchase and use of our Beam Products, website and app.

4.2. Each time you browse and/or use our app, website, or Beam products, you confirm that you agree to be bound by this agreement.

4.3. If you do not wish to be bound by this agreement, you must stop browsing our app or website and using our app and products. This agreement will, however, continue to apply to your previous use of our app and Beam products.

4.4. These terms and conditions, and the documents that incorporate them, constitute our entire agreement with you, and expressly supersede any agreements, terms and conditions or other statements (whether oral, written or otherwise) previously established and published by us.

4.5. The invalidity or illegality of any clauses of these terms and conditions does not affect the validity and applicability of the others. Any clause that is invalid, illegal or unenforceable shall be deemed excluded from these terms and conditions.

4.6. We reserve the right to terminate this Agreement at any time, including when we cease the settlement of transactions with any card organisations or other payments channel currently supported on the Beam Products or if we cease our business operations or if we lose or fail to obtain any licences, permits or authorisations that are necessary for undertaking the Beam Products, website or app.

4.7. If we believe that you have breached any of the terms and conditions of this agreement, we may terminate this agreement and limit, delete or suspend your account, as well as refuse you to provide our services in the future.

4.8. We may at any time suspend, limit or terminate your access to our app, websites, software or systems (including any networks and servers used to provide any of the Beam services) operated by us or on our behalf, or any of the Beam services, including limiting your ability to pay or send money with any of the payment methods associated with your Beam account.

4.9. We may refuse any payment transaction, at any time, for any reason, and it is only necessary to provide the reason and reasons for the refusal, as well as how you can resolve the problem, if possible, upon request and provided that this is not prohibited by law;

4.10. We may change this agreement at any time, for example if we change the functionality of our Beam products, or if it becomes necessary or as required by law.

4.11. We will post any revised version of this agreement on our website and in the app. The revised agreement will take effect as soon as it is published (on our website and or app), unless otherwise specified. If our changes reduce your rights or increase your responsibilities, we will give you at least 5 working days notice.

4.12. By continuing to use the Beam Products after any amendments to this Agreement, you agree to abide by and be bound by any changes. If you do not agree with any changes we make to this Agreement, you may terminate this Agreement at any time and stop using the Beam Products, the website and the app.

4.13. By agreeing to these terms and conditions, you automatically agree to receive our newsletter.

4.14. The newsletter is a free service consisting of the periodic sharing of content associated with the services provided by Beam.

4.15. You can cancel the newsletter service at any time, through the “activate/deactivate” option available in our app, website or newsletter itself.

5. Our services:

5.1 Our services consist of accessing and using the Beam mobile app that allows you to make payments at participating stores. Whoever pays with Beam, instantly receives a cash reward in their account (Beam credits).

5.2 Our services include payment collection and payment processing services (including issuing receipts on behalf of participating merchants).

5.3 Beam does not supply the goods and services provided by the participating establishments. These are independent third parties that are not employed by Beam.

6. Open a Beam account:

6.1. To open a Beam Account you must provide us with the information requested and ensure that the information you provide us is correct at all times. Some information is requested in order to reduce the risk of fraud or to comply with our legal obligations.

6.2 In order to use the app to make payments, you must provide a valid payment method (credit card, debit card or other payment method accepted by Beam).

6.3. You authorize us, directly or through third parties, to make any inquiries we consider necessary to Prove Your Identity. This may include ordering a credit report, performing other credit checks and verifying the information you provide against third party databases

6.4. By opening a Beam Account, you agree that your Credit Card or Debit Card may be charged a nominal amount for identification verification purposes.

7. Your obligations when opening an account with us: 

7.1. If you open and hold an account with us, you must:

a) pay any fees associated with your use of our Beam Products and your Beam Account;

b) ensure that any information about you, including your contact details, is true, accurate, current and complete and if your information changes, you must update it;

c) if requested by us, provide, in a timely manner, all documentation relating to your identity or authority to operate your Beam Account;

d) not use your Beam Account or our Beam Products for any unlawful, fraudulent or improper activity;

e) cooperate fully with us to investigate any suspected unlawful, fraudulent or improper activity on your Beam Account;

f) be aware of and pay any taxes that apply to the payments you send;

g) not allow others to use your Beam Account.

7.2. You will be responsible for obtaining the necessary network access to use our service and also responsible for any fees from your mobile operator, including the consumption of mobile data when using the Beam app or website.

7.3. You must take reasonable steps to prevent misuse of your account. You must maintain adequate security and control of any and all devices, passwords and personal identification number/code that you use to access your account and the Beam services.

7.4. You must comply with all applicable laws. You may only use the Beam app and Beam products for lawful activities and for the purposes for which they were intended, in accordance with these terms. You must not misuse the Beam app or products, or attempt to defraud Beam, participating establishments and third parties.

7.5. You authorize us to disclose your profile and information regarding your purchasing behavior (from the Beam account) to Visa, MasterCard, American Express, PayPal, and any other relevant payment processor supported by Beam. You further authorize us to disclose this information to regulatory authorities and law enforcement and security agencies in order to eliminate fraud and illicit behavior.

7.6. When using the Beam app, website or products, you must not:

a) violate this agreement;

b) violate any law, ordinance or regulation;

c) infringe the copyright, patents, trademarks, trade secrets or other intellectual property rights, or rights of publicity, or privacy, of Beam, the adhering establishments or third parties;

d) provide false, incorrect or misleading information;

e) act fraudulently or be involved in the purchase of counterfeit or stolen items, or items which are unlawful under applicable laws;

f) copy, reproduce, communicate to third parties, alter, modify, create derivative works, publicly present or frame any Beam contente, without proper written consent;

g) transmit any computer viruses or malicious code (trojan horses, worms, time bombs, cancelbots, easter eggs) that may damage, interfere with, surreptitiously intercept or expropriate any customer data or personal information, or may interfere in the provision of our Beam Products, app or website, or our customers affairs;

h) take any action that could cause us to lose any of the services of our internet service providers, payment processors or other providers or service providers;

i) take any action that unreasonably or disproportionately burdens our app, website, software, systems (including any networks and servers used to provide any of our services), operated by or on our behalf;

j) reveal your account passwords to third parties or use someone else's password. Beam is not responsible for any losses you incur, including, without limitation, the use of your account by anyone other than you, arising from the misuse of passwords;

k) use, or attempt to use, our Beam Products, app or website for purposes other than making payments in respect of Beam Transactions and managing your Beam Account, including but not limited to tampering, hacking, modifying or otherwise corrupting the security or functionality of our Beam Products, app or website.

7.7. Our failure to act with respect to a breach of security by you or others does not waive our right to act with respect to subsequent or similar breaches.

7.8. If you grant express permission to a third party to take specific actions on your behalf, or access particular information about your Beam Account, either through your use of the third party’s product or service, or otherwise, you acknowledge that we may disclose the information about your Beam Account that is specifically authorized by you to this third party. You also acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities and liabilities under this Agreement.

7.9. Further you acknowledge and agree that you will not hold us responsible for, and will indemnify us from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant.

8. Purchase and Redemption of Beam Products:

8.1. You may use your Beam Account to purchase Beam Products to be redeemed for goods and services from Participating Outlets in connection with Beam Transactions. The process for doing so will involve you using the Beam service to send an instruction to Beam (either via the Beam mobile phone app, the Beam website or otherwise as Beam may permit). Beam Credits will then issued to you by Beam at the point of sale in the amount of the proposed purchase from the Participating Outlet and such credits will then be immediately redeemed by the actual purchase from the Participating Outlet. In using your Beam Account to purchase goods and services at the Participating Outlet you are agreeing to: (i) purchase Beam Credits from Beam of the requisite amount to satisfy the value of the relevant goods and services to be purchased from the Participating Outlet and (ii) the immediate redemption of the Beam Credits (which are accepted only by the Participating Retailer in return for goods and services). Please note your ability to purchase Beam Products will be subject to any funding or other restrictions imposed by the issuer of your applicable Payment Method.

8.2. You agree and acknowledge that your Beam Account is designed to facilitate the taking of payment by Beam Wallet from your Payment Method for any purchases of Beam Products (but excluding Beam Loyalty Credits, which are granted to you by the relevant Participating Outlet) which you make.

8.3. You acknowledge that your order for purchase of Beam Products is only deemed accepted by Beam Wallet when we have received an authorisation from your Payment Method for payment in respect of the Beam Products you have ordered. All Beam Products purchased will remain the property of Beam until we have received payment in full from you for those products. If we do not receive payment authorisation in respect of your Payment Method for the relevant Beam Transaction proposed to be undertaken, we will not process your order.

8.4. You agree and acknowledge that once we have received an authorisation for payment from your Payment Method for purchases of Beam Products you may not revoke your order or withdraw it.

8.5. Delivery of Beam Products you have purchased from the relevant Participating Outlet will be made through a message sent to your mobile device. You acknowledge and agree that risk in the Beam Products (including risk of loss or damage to the products) shall pass to you immediately the relevant message through which the Beam Products are delivered to you has been successfully transmitted to your mobile device.

8.6. If the Participating Outlet refuses or fails to honour any Beam Products presented by you for redemption (other than for illegality or fraud or any other grounds permitted hereunder or under any other terms of sale between you and the Participating Outlet) you must notify us in writing within no later than seven days of the refusal. Upon receipt of notice, we will liaise with the Participating Outlet to seek to obtain a resolution of the matter and to have the Beam Products redeemed by the Participating Outlet. If despite our intervention the Beam Products are still not redeemed after presentation by you to the Participating Outlet, then we will refund the amount paid in respect of the relevant Beam Products which have been dishonoured as aforesaid (upto the amount of the Beam Products that was sought to be redeemed). Any such refund shall be made in accordance with clause “refunded payments”. You confirm and agree that our liability to you for any Beam Products which the Participating Outlet refuses to honour shall be limited to the refund of the relevant amounts as aforesaid and that upon such refund we shall stand fully released from any and all claims arising from such dishonour of the Beam Products by a Participating Outlet.

9. How redemption of Beam Products for goods and services is done:

When you redeem Beam Products in exchange for goods and services we willupon the checkout process for the Beam Transaction send a request for authorisation to your Payment Method. Once an authorisation of payment has been received from your Payment Method, we will be entitled (whether directly or through our nominated third party payments processor) and without further recourse to you to: i) debit funds on your behalf from your applicable Payment Method; and ii) transfer the funds to ourselves according to the checkout instructions and subject to this Agreement.

We confirm that no payment shall be taken from your Payment Method in respect of Beam Transactions for which Beam Loyalty Credits are redeemed.

10. Refunded payments:

We acknowledge that in certain circumstances as permitted by the terms of your Payment Method, you may be entitled to a reversal of the payment in respect of Beam Transactions. Where you are entitled to a payment reversal, the funds in respect of such reversal of payment will be returned within five business days of receipt by Beam of the amount of the reversal from the Participating Outlet or, as the case may be, within five business days of the dishonour of the Beam Products by the Participating Outlet following intervention by us, as contemplated in clause “purchase and redemption of Beam products”. Refunded payments are returned to the relevant Payment Method from which they were received and we shall be under no obligations to make cash refunds or refunds by other means.

11. Closing your Beam account:

11.1. We may close your Beam Account at any time, for any reason, including but not limited to a breach of this Agreement. We will provide you with notice by email or through alerts on your mobile prior to closing your Beam Account.

11.2. When your Beam Account is closed, we will remain under an obligation to honour any pending Beam Transactions and shall use our reasonable endeavours to procure that the Participating Outlets honour: (i) any valid Beam Products purchased by you; and (ii) any payment reversal transactions pending as at the date of the account closing. But you acknowledge that we have no obligation to sell any new Beam Products or honour or complete any new Beam Transactions in respect of your Beam Account.

11.3. You will remain liable for all obligations related to your Beam Account even after your Beam Account is closed.

11.4. The following clauses will survive any termination or expiry of this Agreement: clause “when using the Beam app, website or products, you must not”; clause “liability and indemnity”; clause “intellectual property”; clause “governing law and dispute resolution”; and clause “notices”.

12. No warranty:

We will use reasonable commercial efforts to ensure that Participating Outlets undertake the redemption of Beam Products in exchange for goods and services sold by the Participating Outlets. We will use reasonable efforts to ensure that transactions settled using Beam Products are processed in a timely manner, but we make no representations or warranties regarding the amount of time needed to complete processing because settlement of Beam Transactions is largely dependent upon many factors outside of our control, such as delays in the banking system or the settlement processes of the relevant card organisations, authorising banks and other supported payment channels.

You acknowledge that access to your Beam account may be interrupted or otherwise affected by factors beyond our control, such as malfunctions, delays and other problems inherent in the use of the internet and other electronic communications. For that reason, we cannot guarantee continuous and uninterrupted access to your Beam account, Beam app or Beam website.

13. Transfers or assignments:

a) You can not transfer or assign any rights or obligations you may have under this Agreement to any third party.

b) We may transfer or assign this Agreement or any right or obligation under this Agreement without your consent.

14. Liability and indemnity:

14.1. You will be liable for any damages suffered by us as a result of your failure to comply with these terms and conditions, your misuse of the Beam app, Beam products and Beam website, or your failure to comply with any laws or third-party rights. You will be responsible for all activities carried out through your account.

14.2. You agree to defend, indemnify and hold harmless Beam, including our managers, officers, representatives and employees, from any liability in connection with any claim, demand or claim (including legal fees) brought or incurred by any third party due to or arising out of: i) your breach of these terms and conditions; ii) your misuse of the Beam app, website and products; iii) your violation of any law or the rights of any third party; iv) and the actions or inactions of any third party to whom you have granted permission to use your Beam account.

14.3. You agree not to hold us responsible for any loss or damage arising as a direct or indirect consequence of access to your Beam account by other logins and unauthorized third parties and your failure to protect your account, and you further agree to indemnify us for any damage that may arise as a result of such logins.

14.4. You are responsible for all cancellations, chargebacks/returns, claims, commissions, fines, penalties and other liabilities incurred by Beam, any user of Beam or any third party, caused by or arising out of your breach of these terms and conditions and/or the use of the Beam services, app and website, regardless of their termination, suspension or termination. You agree to reimburse Beam or any third party for any and all liability referred to above.

14.5. We will not be liable for lost profits or any special, incidental or consequential damages arising out of or in connection with our Beam Products, website or app, or this Agreement (however arising, including for negligence or for any unauthorized use or damage as a consequence of any other person accessing your Beam Account).

14.6. In any event, our liability, and the liability of our directors, officers, employees, shareholders and suppliers, to you or any third parties in any circumstance is limited to the amount received by us from your Payment Method in respect of the Beam Transaction which is the subject of the dispute.

14.7. We are not responsible for losses incurred by you as a result of your negligence, including the use of your Beam Account by any person not authorized by you or otherwise arising as the result of your failure to protect your passwords.

14.8. You agree not to hold Beam liable for any damages resulting from errors or omissions in the information contained in the app, or on the website and also for any damages or viruses that may infect users devices, or other property, due to access or navigation to/in the app, or website.

14.9. Whilst Beam Wallet acknowledges liability for the Beam Products in accordance with the terms of this Agreement, you acknowledge that the Participating Outlet (and not Beam) is the seller of any goods and services purchased by you by way of redemption of Beam Products and that therefore the Participating Merchant (and not Beam) is fully and solely responsible and liable for any and all injuries, illnesses, damages, claims, liabilities and costs you may suffer in connection with the delivery, non-delivery or use of such goods and services. You hereby release us, our employees, officers, shareholders, agents and directors from any and all claims, demands and damages (actual and consequential) of every kind and nature arising out of or in any way connected with the goods and services purchased from a Participating Outlet.

14.10. You agree to indemnify and hold us, our shareholders, officers, directors and employees harmless from any claim or demand (including legal fees) made or incurred by any third party due to or arising out of your breach of this Agreement or the documents it incorporates by reference, or your violation of any law or of the rights of a third party relating to your use of our Beam Products, app or website.

14.11.You also agree to hold us, our shareholders, officers, directors and employees harmless from any losses or other damage whatsoever incurred as a direct or indirect consequence of access to your Beam Account by other logins and you agree to indemnify us for any harm that arises as a direct or indirect consequence of other logins accessing your Beam Account.

15. Intellectual property:

a) You agree to grant us a nonexclusive, worldwide, royalty-free, perpetual, irrevocable, sub licensable right to exercise the copyright, publicity, and database rights (but no other rights) you have in your information, in any media so we may adequately provide our Beam Products to you;

b) If you are using any Beam software that you have downloaded to your mobile phone or other device, or other platform, then we grant you a revocable, non-exclusive, non-transferable license to use our software in accordance with this Agreement and any documentation provided by us from time to time in relation to the use and integration of such software. This license grant includes the software and all updates, upgrades, new versions and replacement software for your personal use only. You may not rent, lease or otherwise transfer your rights in the software to a third party;

c) You must comply with the implementation and use requirements contained in all Beam documentation accompanying our Beam Products, app and website. If you do not comply with our implementation and user requirements you will be liable for all resulting damages suffered by you, Beam and third parties;

d) You agree not to alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code which is derived from the software;

e) You acknowledge that all rights, title and interest to our software and any other elements of intellectual property in connection with the Beam Products are owned by us. Any third party software app you use in connection with the Beam Products is subject to the license you agreed to with the third party that provides you with this software. We do not own, control nor have any responsibility or liability for any third party software app you elect to use in connection with the Beam Products.

16. Governing law and dispute resolution:

This Agreement shall be governed by the laws of Portugal.

This Agreement is drawn up in English and in other languages. In case of any dispute english language version shall prevail.

You agree that any controversy or claim at law or equity that arises out of this Agreement or our Beam Products will be resolved in accordance with one of the subsections below, or as otherwise mutually agreed upon in writing.

16.1. Dispute resolution:

a) If a dispute arises between you and Beam, our goal is to provide you with a means of resolving the dispute quickly. Therefore, we strongly encourage you to first contact us directly to seek a resolution;

b) Disputes between you and Beam and disputes between you and the Participating Outlet in connection with the refusal by the Participating Outlet to honour Beam Products must first be reported to our Customer Support via the Beam app, online on our website or by calling our Customer Support helplines;

c) All claims against Beam arising in connection with this Agreement shall be time-barred twelve months after you have learnt or ought to have learnt of the circumstances giving rise to the claim;

d) The Portuguese courts and, among them, those of the district of Lisbon, are exclusively competent to resolve any dispute arising from this agreement, with express waiver of any other.

16.2. Arbitration:

a) If disputes between you and Beam reported as aforesaid are not resolved within thirty days of their reporting, then either party may refer the dispute to arbitration under the Arbitration Rules of the Centro de Arbitragem da Câmara de Comércio e Indústria Portuguesa, which rules are deemed to be incorporated by reference into this clause. The number of arbitrators shall be one and shall, in the absence of mutual agreement, be chosen by the Lisbon Court of Law (Tribunal da Relação de Lisboa);

b) The seat of arbitration shall be in Portugal;

c) The language to be used in the arbitration shall be Portuguese;

d) The decision of the arbitrator shall be conclusive, final and binding upon the parties.

17. Notices:

17.1. You agree that this Agreement and any other agreements, notices or other communications regarding your Beam Account and/or your use of our Beam Products, website or app, may be provided to you electronically and you agree to receive all such communications from us in electronic form. These communications will be sent to your email address. We reserve the right to provide communications in paper format, but assume no obligation to do so.

17.2. Except as explicitly stated otherwise, any notices to us should be given by email to, or mail to: Beam AG, c/o Sielva Management SA, Gubelstrasse 11, 6300 Zug.

17.3.Notices are deemed as given 24 hours after the email is sent, unless the sending party is aware that the electronic communication was not received. Alternatively, we may give you notice by mail to the address you have provided to us. In such case, notice shall be deemed given 3 days after the date of mailing.

18. Privacy:

We collect, use and disclose information about you as described in these terms and conditions and in the Privacy Policy, available on our app and on our website.

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