Wallet and Scan to Pay Terms

1. About these terms

These terms explain how the YouApp wallet, top-ups, scan to pay, cashback and transfers work. YouApp is provided by YouApp Pte. Ltd. ("YouApp", "we" or "us"). YouApp Pte. Ltd. is incorporated in Singapore. YouApp Pte. Ltd. has subsidiaries and affiliates around the world to which it has granted permission to use and operate the YouApp app and services, and those subsidiaries and affiliates may provide parts of the services to you.

These terms form part of our Terms of Service. If these terms and the Terms of Service conflict on a wallet or payment matter, these terms apply. Our Privacy Policy explains how we handle your personal data.

Your wallet is non-custodial. YouApp never holds, controls or touches the MYRT or other stablecoins in your wallet, or the funds in scan to pay, top-up or conversion flows. Payments, conversions and settlements are provided by licensed parties and third-party providers, not by YouApp.

There is one exception. When you pay for an activity or host booking, YouApp holds that booking payment until the session is completed and verified, and then releases it to the host. This is described in the Payments and Payouts Policy. These terms do not cover booking payments while YouApp holds them.

2. Eligibility and verification

• YouApp is for verified users only. You must be at least 18 years old.
• Before you can pay, top up, receive funds, chat, add contacts, book, host or post, you must pass identity verification. This uses your MyKad, passport or Singpass, together with a selfie and liveness check.
• People without an account may browse the app. They cannot use the wallet or any of the features listed above.
• You must give accurate information. We may ask you to verify again, or to provide more information, at any time.
• We may refuse or end access to the wallet features if you do not pass verification or screening, or if we are required to do so by law or by our licensed partners.

3. Your wallet

• Each verified user gets a non-custodial wallet. The wallet is powered by Privy, a third-party wallet provider.
• "Non-custodial" means YouApp does not custody, hold, control or touch the funds or stablecoins in your wallet.
• Your wallet balance is shown in MYRT.
• You control access to your wallet. You are responsible for keeping your device, account login and any wallet recovery methods secure, and for not sharing them with anyone. YouApp staff will never ask for them.
• Because YouApp does not control your wallet, we cannot move, recover or reverse funds in it for you, and we cannot reverse blockchain transfers.
• If you lose access to your device, your login and your recovery methods, you may lose access to your wallet and its funds. Recovery depends on the recovery options offered by the wallet provider. YouApp cannot restore access for you.

4. MYRT

• MYRT is the Malaysia Ringgit Stablecoin. It is a limited-purpose stablecoin that is minted and redeemed 1:1 for ringgit. Its reserve is held at a licensed Shariah-compliant fund.
• YouApp does not issue or redeem MYRT, and does not guarantee its value.
• Minting and redemption of MYRT are subject to the terms of its issuer.

5. Topping up

You can top up your wallet in these ways:

• Stablecoins. You can send ERC-20 stablecoins on the Ethereum mainnet, for example MYRT, XSGD, JPYC, IDRT or USD stablecoins. Stablecoins other than MYRT are converted to MYRT.
  • Only send on the Ethereum mainnet. Transfers sent on any other network cannot be recovered.
  • Blockchain transfers are irreversible. Check the address and network before you send.
  • Your balance is credited only after the conversion to MYRT is confirmed.
  • Conversion is powered by Sera (sera.cx), a non-custodial settlement protocol for stablecoins.
• DuitNow transfer. You can top up by DuitNow transfer.
• Debit or credit card. You can top up by debit or credit card. A card processing fee applies (see section 7).

Top-ups by DuitNow transfer or card are provided by licensed parties. Top-ups may be refused, delayed or limited where required by law, by our licensed partners, or for fraud prevention.

6. Paying with scan to pay

• You can scan any DuitNow QR and pay in ringgit.
• Every payment, conversion and settlement is provided by licensed parties, including a Bank Negara Malaysia-regulated e-money and e-wallet partner.
• Merchants and other licensed entities in Malaysia are always paid in ringgit by licensed counterparties. They are never paid in stablecoins.
• Before you confirm, check the merchant name, the amount and the fees shown. Once you confirm a payment, YouApp cannot cancel or reverse it.
• A payment may be declined if it exceeds a limit, fails screening, or is refused by a licensed partner.
• You can also use your wallet balance to pay for activity and host bookings. Those payments are held by YouApp until the session is completed, under the Payments and Payouts Policy.
• Cross-border QR payments are not currently available. They may be introduced later under additional terms.

7. Fees and limits

Fees may apply to top-ups, conversion, scan to pay and card payments. Any fee that applies is shown in the app before you confirm a transaction. The maximum amounts are set out below, and we may reduce or waive fees at any time.

• Limits may change. Our licensed partners may also apply their own, lower limits.
• Host fees for activity bookings are set out in the Payments and Payouts Policy and the Host Terms and Conditions.
• We may change our fees. Any change applies only to transactions you confirm after the change.

8. Cashback

• Cashback is paid in MYRT only.
• Cashback is available only at participating partner merchants, hosts, activities and experiences shown in the app. It is not available for payments to other DuitNow QRs.
• Cashback is funded by the partner merchant or host, not by YouApp. The rate is shown in the app.
• We may withhold cashback, or require cashback to be returned, where we reasonably suspect fraud or abuse.

9. Sending and receiving

• You can send MYRT to, and receive MYRT from, other verified YouApp users you have added as contacts.
• Check the recipient before you confirm. Transfers cannot be cancelled or reversed by YouApp.
• Transfers count towards your limits and may be declined if they fail screening.

10. Refunds and disputes

• Scan to pay. A dispute about goods or services you paid for with scan to pay is between you and the merchant. Any refund is a matter for the merchant. YouApp can help mediate but does not hold scan to pay funds and does not itself pay refunds for these payments.
• Transfers. A dispute about a transfer to another user is between you and that user. YouApp may act on reports, including by suspending accounts, but cannot reverse the transfer.
• Activity and host bookings. Refunds for bookings are handled under our Cancellation, Rebooking and Refund Policy and are paid from the held booking payment, in ringgit (MYR).

11. Unauthorised transactions

• If you think a transaction was made without your permission, or someone else has accessed your account or wallet, tell us straight away through our contact form.
• We may restrict your account to help protect it, and we will pass relevant information to the licensed partner or provider involved.
• Whether a payment can be recovered depends on the licensed partner or provider involved and on applicable law. Blockchain transfers cannot be reversed.

12. Transaction records and tax

• Your top-ups, payments, conversions, cashback and transfers are shown in your transaction history in the app. Check it regularly and keep your own records.
• You are responsible for any tax that applies to your use of the wallet, including any cashback you receive. YouApp does not provide tax advice.

13. Risks

Using stablecoins and digital wallets carries risks. These include:

• Network risk. Blockchain networks can be congested, delayed or disrupted.
• Wrong address or network. Funds sent to the wrong address, or on a network other than the Ethereum mainnet, cannot be recovered.
• Price movement before conversion. Stablecoins other than MYRT may change in value against ringgit before they are converted. The MYRT amount you receive depends on the conversion rate when conversion is confirmed.
• Third-party outages. The wallet provider, the conversion provider, licensed partners or networks may be unavailable, which can delay or prevent top-ups, payments or transfers.

YouApp is not responsible for losses caused by these risks, except where the law says otherwise. The disclaimers and limits of liability in our Terms of Service also apply.

14. Service availability

The wallet, top-ups, scan to pay and conversion depend on third-party providers, licensed partners and blockchain networks. We do not promise that they will always be available or free of errors. We may suspend features for maintenance, security or legal reasons. Some merchants or payment types may not be supported.

15. Prohibited use

You must not use the wallet or scan to pay:

• For fraud, scams or any unlawful purpose;
• For money laundering or terrorism financing;
• In breach of sanctions, or for the benefit of a sanctioned person;
• With funds that are not yours, or on behalf of another person;
• To abuse cashback, referral or promotional programmes; or
• To avoid limits, screening or verification.

We and our licensed partners carry out sanctions and anti-money laundering screening. We may report suspicious activity to the authorities as required by law.

16. Suspension and closure

• We may suspend or restrict your access to the wallet features, or close your account, if you breach these terms, fail verification or screening, or if we are required to by law or by our licensed partners.
• Licensed partners and third-party providers may also restrict their services under their own terms or where required by law.
• If you close or delete your account, or we close it because you have breached these terms or the Terms of Service, we will ask you to export your wallet. From then on, the only thing you can do in YouApp is export your wallet. You cannot use any other feature, including bookings, chat, the feed, scan to pay and transfers.
• If we are required by a court, regulator or other authority to close or restrict your account, we will act as they direct. This may mean we cannot give you any access through YouApp, including to export your wallet.
• Suspension or closure of your YouApp account does not give YouApp ownership or control of the funds in your wallet.
• Booking payments held by YouApp when your account is suspended or closed are dealt with under the Payments and Payouts Policy.
• You may close your account at any time by contacting us.

17. Third-party providers

• Privy provides the non-custodial wallet.
• Sera (sera.cx) provides the conversion of stablecoins to MYRT.
• Licensed partners, including a Bank Negara Malaysia-regulated e-money and e-wallet partner and payment gateway partners, provide payments, conversions and settlements.

These providers are not YouApp. Their own terms and privacy policies also apply when you use their services through YouApp.

18. Changes

We may change these terms, including fees and limits. We will post the updated terms in the app or on our website and update the date at the top. If you keep using the wallet or scan to pay after a change, you accept the updated terms.

19. Governing law

These terms are governed by the laws of the Republic of Singapore. Disputes are resolved as set out in the Terms of Service.

20. Contact

YouApp Pte. Ltd.
Contact us through our contact form