Details on the operation of the Beam Products can be found on our website at www.beamwallet.com
Definitions and interpretation
In this Agreement:
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;
Beam Credits means redeemable credits (sold by Beam at face value) to be purchased from Beam by Beam Account Holders and which are immediately redeemed by the Participating Outlet against goods and services of the Participating Outlet;
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 Products mean Beam Credits, Beam Discounted Credits, Beam Loyalty Credits, and/or Beam Vouchers available through your Beam Account application 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;
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 Wallet, we, us and our means Beam AG, (Company Number CHE-269.902.729) a company incorporated in Switzerland, for the purposes hereof of c/o Sielva Management SA, Gubelstrasse 11, 6300 Zug (or as the case may be, its successors in title and assigns from time to time); and regional subsidiary: Beam Wallet Pty Ltd (ABN 12613656214) in Australia
Chargeback means when the financial institution or payment services provider which issues or supports a Payment Method linked to the Beam Account Holder’s Beam Account 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;
Credit Card means a credit card designated by MasterCard or Visa as a MasterCard or a Visa card, (or a credit card of other credit card organizations that may be accepted by us from time to time);
Debit Card means a debit card designated by MasterCard or Visa as a MasterCard or a Visa card, (or a debit card of other debit card organizations that may be accepted by us from time to time);
Nominated Card means the Credit Card and/or Debit Card that you link to your Beam Account;
Nominated Klarna Account means the Klarna Account that you link to your Beam Account;
Participating Outlet means retail or other outlets which have an agreement in place to be participating outlets for payments for goods and services to be made through redemption of Beam Products;
Payment Method means the Nominated Card, Nominated Klarna Account or any other payment method offered or accepted by Beam Wallet from time to time;
Primary Login means the individual or entity who opened and registered the Beam Account;
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 when a financial institution or payment services provider which issues or supports a Payment Method reverses a payment it believes to be fraudulent;
Secondary Login means the individual(s) selected by the Primary Login to have access to the Primary Login’s Beam Account; and
You and your means any Beam Account Holder using our Beam Products (including a Primary Login and his/her designated Secondary Login(s).
In this Agreement, unless the context requires otherwise:
references to singular mean plural and vice versa;
the headings are used for convenience only and do not affect the interpretation of this Agreement;
other grammatical forms of defined words or expressions have corresponding meanings;
a reference to a document includes the document as modified from time to time and any document replacing it;
the word "person" includes a natural person and any body or entity whether incorporated or not;
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; and
wherever "include" or any form of that word is used, it must be construed as if it were followed by "(without being limited to)".
If any provision of this Agreement is held illegal or unenforceable, that provision will be limited or eliminated to the minimum extent necessary so that this Agreement will otherwise remain in full force and effect and enforceable.
This Agreement and the documents it incorporates detail the entire understanding between us concerning its subject matter and supersede any other terms and conditions previously published by us and any other representations or statements made by us to you, whether oral, written or otherwise.
We reserve the right to terminate this Agreement at any time including when we cease the settlement of transactions of 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.
How this Agreement works
This Agreement is a contract between you and Beam Wallet setting out the terms and conditions which apply to your purchase and use of our Beam Products.
You will be taken to have accepted this Agreement by selecting the appropriate “agree” option on the product menu using your mobile telephone or other mobile device or when you purchase or when you use any of our Beam Products, whichever occurs first.
Each time you purchase or use our Beam Products, you confirm your agreement to be bound by this Agreement.
If you do not want to be bound by this Agreement, you must stop using our Beam Products. The Agreement will continue to apply to your previous use of our Beam Products.
Amendments to this Agreement
We may amend this Agreement at any time, for example if we change the functionality of our Beam Products or as may become necessary or as required by law.
We will post any revised version of this Agreement on our website. The revised Agreement will take effect as soon as we have posted any revised version of this Agreement on our website.
By continuing to use the Beam Products after any amendments to this Agreement in accordance with this section 4, 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.
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 application may be interrupted or otherwise affected by factors beyond our control such as telecommunications network malfunctions and that for this reason we cannot guarantee continuous and uninterrupted access to your Beam Account at all times.
Transfers or assignments
You cannot transfer or assign any rights or obligations you may have under this Agreement to any third party.
We may transfer or assign this Agreement or any right or obligation under this Agreement without your consent.
Opening a Beam Account
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.
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.
By opening a Beam Account, you agree that your Credit Card or Debit Card may be charged a nominal amount for identification verification purposes.
Your obligations when you open a Beam Account with us
If you open and hold a Beam Account with us, you must:
pay any fees associated with your use of our Beam Products and your Beam Account;
ensure that any information about you including your contact details is true, accurate, current and complete and if your information changes, you must update your information through our Website;
if requested by us, provide to us in a timely manner, all documentation relating to your identity or authority to operate your Beam Account (including Secondary Logins);
not use your Beam Account or our Beam Products for any unlawful, fraudulent or improper activity;
cooperate fully with us to investigate any suspected unlawful, fraudulent or improper activity on your Beam Account;
be aware of and pay any taxes that apply to the payments you send; and
not allow others to use your Beam Account (except for authorized Secondary Logins).
You authorize us to disclose your Beam Account profile and purchase behaviour information to Visa, MasterCard and American Express, PayPal, any relevant third party payment processor and any other supported card organization or payments channel and to regulatory authorities and security agencies anywhere in the world for the purpose of eliminating fraud and illicit behaviour.
When using our Beam Products you must not:
provide us with false, inaccurate or misleading information;
act fraudulently or be involved in the purchase of counterfeit or stolen items or items which are unlawful under applicable laws;
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 or our customers’ affairs;
create liability for us or cause us to lose (in whole or in part) the services of our suppliers;
allow anyone else to have or use your Beam Account passwords; or
use, or attempt to use, our Beam Products 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.
Our failure to act with respect to a breach by you or others does not waive our right to act with respect to subsequent or similar breaches.
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 under this Agreement. 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.
Purchase and Redemption of Beam Products
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 application, 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.
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.
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 Wallet 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.
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.
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.
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 (7) days of the refusal. Upon receipt of notice as aforesaid, 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 as aforesaid 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 8.8 below. You confirm and agree that our liability to you for any Beam Products which the Participating Outlet refuses to honour as aforesaid 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.
How redemption of Beam Products for goods and services is done
When you redeem Beam Products in exchange for goods and services we will upon 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:
debit funds on your behalf from your applicable Payment Method; and
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.
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 8.6 above. 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.
Closing your Beam Account
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 device of at least three business days prior to closing your Beam Account.
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.
You will remain liable for all obligations related to your Beam Account even after your Beam Account is closed.
The following clauses will survive any termination or expiry of this Agreement: clause 7.3 - Prohibited Activities using our Beam Products; clause 10 – Intellectual Property; clause 11 – Governing law and Disputes; clause 12 – Notices; clause 13 - Release; clause 14 – Limitation of Liability; and clause 15–Indemnification.
Our intellectual property
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.
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. You must comply with the implementation and use requirements contained in all Beam Wallet documentation accompanying our Beam Products. If you do not comply with our implementation and use requirements you will be liable for all resulting damages suffered by you, Beam Wallet and third parties. 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. 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 application 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 application you elect to use in connection with the Beam Products.
Governing law and dispute resolution
This Agreement shall be governed by the laws of England & Wales. If a dispute arises between you and Beam Wallet, our goal is to provide you with a means of resolving the dispute quickly. Accordingly, 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. Before resorting to these alternatives we strongly encourage you to first contact us directly to seek a resolution.
Disputes between you and the Participating Outlet shall be governed by the laws of the jurisdiction where the transaction took place; if this is in doubt this is the governing jurisdiction of the contract between Beam Wallet and the Participating Outlet. We strongly encourage you to first contact us directly to seek a resolution.
For the avoidance of doubt:
Services delivered by Participating Outlets in Australia are subject to the courts and laws of Australia
Services delivered by Participating Outlets in Sweden are subject to the courts and laws of Sweden
Services delivered by Participating Outlets in the UAE are subject to the courts and laws of DIFC
Services delivered by Participating Outlets in Azerbaijan are subject to the courts and laws of Azerbaijan
Disputes between you and Beam Wallet 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 the Customer Support via the Beam application, online on our website or by calling our Customer Support helplines. Hours of operation for Customer Support can be found via our website.
All claims against Beam Wallet arising in connection with this Agreement shall be time-barred twelve (12) months after you have learnt or ought to have learnt of the circumstances giving rise to the claim.
If disputes between you and Beam Wallet 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 DIFC-LCIA Arbitration Centre, which rules are deemed to be incorporated by reference into this clause. The number of arbitrators shall be one (1) and shall in the absence of mutual agreement be chosen by the Court of the LCIA. The seat of arbitration shall be the Dubai International Financial Centre, Dubai, United Arab Emirates. The language to be used in the arbitration shall be English. The decision of the arbitrator shall be conclusive, final and binding upon the parties.
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 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. You can print a copy of any communications and retain it for your records. We reserve the right to provide communications in paper format, but assume no obligation to do so.
Except as explicitly stated otherwise, any notices to us should be given by mail or email to:
Notices are deemed as given 24 hours after an 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.
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 Wallet) 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 Wallet) 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.
Limitation of liability
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, 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).
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.
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.
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.
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.