Terms of CCB E-CNY Sub-Wallet Payment Service

 

To clarify rights and obligations of the Parties, standardize business activities of the Parties and improve customer services, the applicant for the e-CNY sub-wallet service (“Party A”) and China Construction Bank Corporation (“Party B”) enter into the Terms of Service with respect to the e-CNY sub-wallet payment service of China Construction Bank (hereinafter referred to as "CCB"). Both parties shall abide by the Terms of Service.

 

Article 1 Definition of e-CNY sub-wallet payment service and related information

 

i.E-CNY sub-wallet payment service means an e-CNY sub-wallet based on the e-CNY wallet of CCB is linked to the third-party platform account, the specific third party is authorized to send debit instructions to Party B when Party A makes payment through the third party, and Party B will debit and transfer the corresponding funds from Party A's e-CNY wallet according to the third-party debit instructions.

 

ii.Based on the need of risk control, Party B may impose restrictions on the scenario, funds channel and payment limit when Party A uses the Service for payment. Party A acknowledges and accepts that the details are subject to Party B's announcement. The Service shall be activated according to the specific third party selected by Party A. If the specific third party has requirements on payment limit and payment authentication, Party A shall also comply with the relevant payment requirements of the specific third party.

 

iii.Party A may check the information of specific third parties that have signed up for the e-CNY sub-wallet payment service on the wallet payment management web page, and may also opt to disable the service.

 

iv.The Service is free of charge provisionally, and any subsequent adjustment will be announced by Party B in advance in accordance with the Terms of Service and will take effect thereafter.

 

Article 2 Use of e-CNY sub-wallet payment service

 

i.Party A hereby agrees and acknowledges that during the period when the Service is in effect, Party A authorizes specific third parties to send debit instructions to Party B. Specific third parties herein include the merchant providing services to Party A, the third party jointly identified by the merchant and Party A, or the insurance company (if any) that has a claim against Party A in accordance with law after the insurance company has paid the merchant the amount that Party A should have paid to the merchant when Party A has not paid in full and on time. Party A authorizes Party B to debit specified amounts from Party A's e-CNY wallet to the wallet designated by such specified third party in accordance with the instructions of such specified third party.

 

Party A agrees and acknowledges that Party B will only debit funds from the e-CNY sub-wallet according to specific third-party instructions and will not verify Party A's payment PIN, SMS verification code and other information when debiting. Party B’s debiting is irrevocable once it becomes effective. Party A shall make sure that Party A pays based on its true intention and bears the corresponding consequences caused by such payment.

 

ii.Party A hereby agrees and acknowledges that Party A shall be accountable for any economic dispute or liability for breach of contract caused by Party A's inability to pay the above said transaction amount due to Party A's wallet not having sufficient balance of e-CNY, or being unlinked, frozen or cancelled; Party B shall not be accountable for any failure to make timely payment or wrong payment for any reason not attributable to Party B; in case Party A suffers economic loss caused by the specific third party, Party A shall negotiate with the third party to solve the problem and Party B shall not be held liable for it but shall provide Party A with necessary assistance.

 

iii.The default limit is set by the back office when Party A's sub-wallet is created, and the default limit is equal to the limit of the e-CNY wallet linked to Party A's sub-wallet. Party A can adjust the single, daily and annual limits within the default limit at its own discretion.

 

iv.Party A hereby agrees and acknowledges that the e-CNY sub-wallet payment service is a value-added service provided by Party B for Party A. Party B is the implementing party of the authorized instruction and has no obligation to review the authenticity and accuracy of such authorized instruction. In the event that Party B fails to operate in accordance with Party A's authorization and the instructions of the merchant designated by Party A or executes the instructions incorrectly, Party B shall compensate Party A for the direct loss caused by such failure. In addition to this, Party B shall not be liable for direct or indirect losses of Party A not caused by Party B. If Party A disagrees with the specific type of business and transaction amount of the use of the e-CNY sub-wallet payment service, or any dispute arises with a specific third party as a result of Party A's purchase of goods or services, Party A shall negotiate with the third party on its own or resolve the matter through judicial means.

 

Article 3 Execution and termination of the Terms of Service

 

i.The Terms of Service shall come into effect when Party A ticks and agrees to the Terms of CCB E-CNY Sub-Wallet Payment Service and successfully enables the relevant services. All authorizations made by Party A in accordance with the Terms of Service shall enter into force simultaneously.

 

ii.The Terms of Service shall expire upon Party A's application for termination of the e-CNY sub-wallet payment service and receipt of a system prompt of successful termination, and all authorizations granted by Party A pursuant to the Terms of Service shall terminate accordingly. Party A shall bear the consequences arising from the operation of Party B in accordance with Party A's authorization prior to termination.

 

iii.If the e-CNY wallet is temporarily unavailable due to loss reporting or freezing, the e-CNY sub-wallet payment service will be suspended accordingly, and the e-CNY sub-wallet payment service will be resumed after the e-CNY wallet is available for normal use. If the e-CNY wallet is canceled, the e-CNY sub-wallet payment service and the related provisions of the Terms of Service shall be terminated accordingly.

 

iv.Invalidity of any provision of this Terms of Service shall not affect the validity of remaining provisions hereof.

 

Article 4 Miscellaneous

 

i.Party B shall not intervene in transaction disputes between Party A and specific third parties, but may assist Party A in identifying transactions.

 

ii.Except as proven by evidence to the contrary, the transaction receipts and bank transaction records generated in the provision of e-CNY sub-wallet payment service are the basis for verifying the authenticity, validity and details of transactions.

 

iii.Where Party B fails to fulfill this Terms of Service due to force majeure (including but not limited to war, riot, major fire, flood, typhoon, earthquake, act of government and injunction unforeseeable, unavoidable and insurmountable by Party B), Party B shall provide necessary help for Party A as appropriate. Party B shall be fully or partially exempt from liability according to the impact of force majeure.

 

iv.For the purpose of providing Party A with the relevant services hereunder and effectively implementing the regulatory requirements for identity verification and anti-money laundering due diligence, and other purposes necessary for the performance of the Terms of Service, Party B shall, with Party A’s consent in accordance with the law, collect, store and use the personal information provided by Party A proactively in processing e-CNY business or arising from the use of the services. After the termination of the business relationship between the two parties, Party B shall handle Party A’s personal information in strict accordance with laws and regulations and industry regulatory requirements.

 

v.Party A shall be aware that, where it is necessary for the processing of its business or as otherwise provided by laws, regulations and industry authorities, Party B will provide Party A’s personal information for or obtain Party A’s personal information from third-party cooperative institutions, including Party A’s name, date of birth, ID type and number, personal biometric authentication information, communication contact information, contact address, account information, wallet information and transaction information, with Party A’s separate consent in accordance with the law. Party B and third-party cooperative institutions shall use Party A’s personal information according to business needs where necessary, and Party B shall undertake to clarify the responsibility of personal information protection for Party A to third-party cooperative institutions and require them to undertake corresponding confidentiality obligations.

 

vi.Party B may adjust service items, charge items or fee rates and business rules in accordance with relevant regulations of the State and in line with its business needs. Such adjustments can be implemented and applied to the service hereunder after a certain period of official announcement. Where necessary, Party B will submit such adjustments to the relevant financial regulatory authorities for approval or record purposes prior to making a public announcement. Party A may choose whether or not to continue to use the service hereunder during the announcement period. Where Party A does not accept the announcement of Party B, Party A shall apply to Party B for changing or terminating relevant service before Party B implements announced adjustments. If Party A does not apply for changing or terminating relevant service,  Party A shall be deemed to have consented to relevant adjustments and such changes shall be legally binding upon Party A. If Party A fails to implement such changes, Party B may choose to terminate the service hereunder. The service items, charge items and fee rates of the e-CNY wallet are subject to the latest announcement of Party B.

 

vii.Party A acknowledges that he/she has carefully read the Terms of CCB E-CNY Sub-Wallet Payment Service and paid particular attention to the clauses highlighted in bold, and CCB has provided a detailed explanation of the foregoing document and its clauses at the request of Party A. Party A has full knowledge and understanding of the meanings of clauses hereof and their legal implications and will abide by all provisions hereof.

 

viii.The Parties hereto acknowledge and agree that: The Terms of Service is executed by the data message means accepted by both Parties. The electronic signature provided by Party A in the electronic system of Party B shall be a reliable electronic signature agreed upon by the Parties. The way Party A logs in the electronic system of Party B is an identification method accepted by both Parties. Any operations after login using such identification method will be deemed to be performed by Party A or his/her authorized representative. Party A undertakes to assume any and all legal consequences thereof.

 

ix.Unless otherwise agreed by the Parties, all prices and other charges hereunder shall be inclusive of value added tax.

 

x.Any matters not covered herein shall be handled in accordance with laws and regulations of the People’s Republic of China, relevant rules and policies of the PBOC and the banking regulatory authority and generally accepted practices of the financial industry.

 

Article 5 Applicable laws and dispute resolution

 

i.In the event of any inconsistency or conflict between the English and Chinese versions of the Terms of Service, the Chinese version shall prevail.

 

ii.The laws and regulations of the People’s Republic of China, relevant rules and policies of the PBOC and the banking regulatory authority and generally accepted practices of the financial industry shall apply to the validity, interpretation, change, implementation and dispute resolution of this Terms of Service.

 

iii.If Party A is not a user within the territory of the People’s Republic of China (for the purpose of the Terms of Service, “within the territory of the People’s Republic of China” does not include Hong Kong SAR, Macao SAR and Taiwan), Party A also needs to comply with the laws of the country or region where he/she is located, and Party A shall confirm that the conclusion and performance of the Terms of Service does not violate the laws and regulations of the country or region where he/she is located, resides, conducts business activities or processes other businesses.

 

iv.Any dispute arising out of or in connection with the Terms of Service shall be resolved through consultation. If such consultation fails, either Party may refer the dispute to the people’s court in the place where Party B is located.

 

Special note: If Party A has any questions, comments or suggestions about CCB's products or services, please call CCB's customer service and complaint hotline 95533#555 for consultation and feedback.

 

I have read all the terms hereof, and have paid special attention to the content in bold and black. China Construction Bank has clearly explained to me the content hereof as I require. I have fully acknowledged and understood the meaning of all the terms and the corresponding legal consequences.