Terms and Conditions

Terms and Conditions for WIBS PHP INC.
Last Updated: September 15, 2024

These Terms constitute a legally binding agreement between you (“you” or “your”) and WIBS PHP INC. (“WIBS PHP”, “we”, “our” or “us”). These Terms govern your access to and use of the services provided by WIBS PHP, including but not limited to DOPAY-EM, DOPAY-VC, and any other services offered through our platform or otherwise. WIBS PHP Services may be provided directly by WIBS PHP or, as specified in these Terms, any supplementary agreements, or additional terms, by any WIBS PHP affiliate.

By registering for a WIBS PHP account, accessing our platform, and/or using WIBS PHP Services, you confirm that you have read, understood, and accepted these Terms, together with any additional documents or terms referenced herein. You acknowledge and agree that you will be bound by and will comply with these Terms, as updated or amended from time to time.

RISK WARNING

The value of digital assets, including cryptocurrencies, can fluctuate significantly, and there is a substantial risk of economic loss when buying, selling, holding, or investing in such assets. You must carefully consider whether trading or holding digital assets is suitable for you, taking into account your financial circumstances, investment objectives, and risk tolerance.

WIBS PHP INC. (“WIBS PHP”) does not act as your broker, intermediary, agent, or advisor and does not have any fiduciary relationship or obligation to you in connection with any transactions or activities you undertake using WIBS PHP’s services. We do not provide investment, legal, tax, or other professional advice. Any communication or information provided by WIBS PHP should not be construed as advice of any kind.

It is your responsibility to independently assess and determine whether any investment, strategy, or transaction is appropriate for you. You are solely responsible for any losses, liabilities, or other consequences resulting from your decision to buy, sell, or hold digital assets. WIBS PHP does not make recommendations on whether you should buy, sell, or hold any digital asset.

We strongly encourage you to conduct your own due diligence, consult with financial and legal advisors, and fully understand the risks involved before making any decisions. Additional information on the risks associated with using WIBS PHP services is outlined in our Risk Disclosure Statement, which is updated periodically. Please review this document carefully to better understand the potential risks and responsibilities associated with digital assets and our services.

Section I: General Customer Terms and Conditions

1. Purpose

The purpose of these Terms is to outline the responsibilities, obligations, and rights of users of WIBS PHP’s payment services, including but not limited to electronic money issuance (EMI), virtual currency services (VASP), and remittance services, as licensed by the Bangko Sentral ng Pilipinas (BSP).

By accepting these Terms, you acknowledge that you understand and agree to the risks and limitations involved in using our services. WIBS PHP does not provide guarantees or warranties on transactions.

2. Definitions

Key terms used in these Terms include:

• “AML”: Anti-Money Laundering measures, as prescribed by BSP.
• “CFT”: Combating the Financing of Terrorism, as mandated by BSP regulations.
• “E-Wallet”: A digital account provided by WIBS PHP to facilitate payments and transfers.
• “DOPAY-EM and DOPAY-VC”: The service brands under WIBS PHP’s EMI and VASP licenses.
• “Loss”: Any liability, damage, or claim arising from the use of WIBS PHP services.
• “WIBS PHP Account”: Your account with WIBS PHP where transactions and balances are maintained.

3. Scope of Services

WIBS PHP provides payment services, including:

Cash-in and Cash-out Transactions:

Deposit or withdraw funds seamlessly through authorized agents, partner outlets, or participating financial institutions.

Local and International Remittance Services:

Send and receive money within the Philippines and internationally, ensuring secure and reliable transfers for personal and business needs.

QR Code and Card-Based Payments:

Conduct secure transactions using QR codes or payment cards at participating merchants and establishments.

Mobile Top-ups and Fund Transfers:

Recharge mobile credits and transfer funds to other users or accounts, offering convenience for everyday financial transactions.

E-Wallet Services:

Manage your digital money through an E-Wallet that allows for seamless storage, transfer, and utilization of funds, supporting payments, bill settlements, and more.

Virtual Asset Services:

Buy, sell, hold, and transfer cryptocurrencies and other digital assets securely, in compliance with BSP regulations.

Online and In-App Payments:

Make digital payments for goods and services through our platform, ensuring a smooth and efficient user experience.

Business Solutions for Merchants:

Accept payments via QR codes, cards, or virtual accounts, with settlement options tailored to business needs.

4. Acceptance of Terms

By accessing or using any of WIBS PHP’s services, you acknowledge and confirm that:

1. Full Understanding: You have read, understood, and agreed to these Terms and any additional documents or terms referenced herein. It is your responsibility to ensure that you fully comprehend the rights, responsibilities, and obligations set forth in this agreement.
2. Legally Binding Agreement: By registering for a WIBS PHP account, accessing the platform, or using any services provided by WIBS PHP, you explicitly agree to these Terms. This constitutes a legally binding agreement between you (“you” or “your”) and WIBS PHP INC. (“WIBS PHP”, “we”, “our”, or “us”).
3. No Exceptions: Your continued use of WIBS PHP’s services signifies your acceptance of these Terms in full, including any updates or amendments made to the Terms from time to time. If you do not agree to or cannot comply with any provision of these Terms, you must immediately discontinue your use of WIBS PHP’s services.

Your acceptance of these Terms is a precondition for accessing and utilizing WIBS PHP’s services. Failure to adhere to these Terms may result in the suspension, limitation, or termination of your access to our services.

5. Eligibility

To access and use WIBS PHP services, you must meet the following eligibility requirements. These requirements are in accordance with the standards set by the Bangko Sentral ng Pilipinas (BSP) and the Anti-Money Laundering Act (AMLA) of the Philippines:

1. Ownership of Mobile Number (MSISDN):
   You must be the registered owner of the mobile number (MSISDN) used to access WIBS PHP services. It is your responsibility to ensure that the number is active, valid, and registered under your name with your telecommunications provider.
2. Minimum Age Requirement:
   • You must be at least 18 years old to register and use WIBS PHP services.
   • If you are under 18 years of age, you may only use our services with explicit parental or guardian consent, supported by valid documentation proving such consent.
3. Customer Verification and Compliance:
   To comply with BSP regulations and AMLA requirements, you must complete WIBS PHP’s Know-Your-Customer (KYC) process, which includes, but is not limited to:
   • Providing valid government-issued identification.
   • Completing any identity verification procedures as required by WIBS PHP.
   • Complying with ongoing monitoring and account review as per AMLA and BSP standards.
     Failure to complete or comply with these requirements may result in the suspension or termination of your account.
4. Device Compatibility:
   You must possess a compatible mobile device with the technical specifications required to access and use WIBS PHP services. WIBS PHP is not responsible for any limitations, losses, or damages resulting from your device’s inability to access or use our services.
5. Legal Capacity and Authority:
   You confirm that you are legally capable of entering into binding agreements and that all information provided to WIBS PHP during registration or usage of services is accurate, complete, and current.
6. Non-Involvement in Prohibited Activities:
   You must not be engaged in or associated with any activity prohibited by Philippine law, BSP regulations, or AMLA, including but not limited to fraudulent, illegal, or high-risk activities that violate national or international sanctions.

By registering for WIBS PHP services, you represent and warrant that you meet these eligibility criteria. WIBS PHP reserves the right to deny, suspend, or terminate services to users who fail to meet or comply with these requirements.

6. Authority and Responsibility

By agreeing to these Terms, you authorize WIBS PHP to process transactions on your behalf based on the credentials associated with your account, including but not limited to your PIN, password, or other secure access mechanisms. You acknowledge and agree to the following:

1. Authorization of Transactions:
   • All transactions conducted using your account credentials shall be deemed authorized by you.
   • You bear sole responsibility for safeguarding your credentials and ensuring they are not shared, disclosed, or otherwise made accessible to unauthorized persons.
2. Liability for Unauthorized Use:
   WIBS PHP shall not be liable for any losses, damages, or liabilities arising from:
   • The incorrect or unauthorized use of your credentials by you or any third party.
   • Any failure on your part to maintain the confidentiality or security of your account credentials.
3. Finality of Transactions:
   • Once a transaction is processed through WIBS PHP’s system, it is final and irrevocable. WIBS PHP is not obligated to reverse, cancel, or refund any transaction unless expressly required by law or regulation.
4. Indemnification of WIBS PHP:
   You agree to indemnify and hold WIBS PHP, its affiliates, officers, employees, and agents harmless from any claims, losses, damages, liabilities, or expenses (including legal fees) arising out of or in connection with:
   • Your failure to comply with these Terms.
   • Any unauthorized, fraudulent, or erroneous transaction conducted through your account.
   • Any breach of applicable laws or regulations by you.
5. No Guarantee of Outcome:
   WIBS PHP does not guarantee the success, accuracy, or timeliness of any transaction. All transactions are subject to system availability, applicable limits, and regulatory requirements.
6. Legal Compliance:
   • WIBS PHP reserves the right to decline, block, or delay any transaction that it suspects may violate BSP regulations, AMLA requirements, or any other applicable law.
   • Such actions shall not render WIBS PHP liable for any losses or damages incurred by you.
7. Limitation of Responsibility:
   WIBS PHP is not responsible for:
   • Network or system failures beyond its reasonable control.
   • Transactions rejected due to insufficient funds, regulatory restrictions, or technical errors not directly caused by WIBS PHP’s negligence.
   • Losses resulting from third-party systems or service providers involved in facilitating the transaction.

By using WIBS PHP services, you accept full responsibility for your account credentials and all transactions conducted through your account. WIBS PHP’s role is limited to processing transactions as authorized by you, and you agree that WIBS PHP is fully indemnified from any resulting losses or liabilities except as explicitly required by applicable law.

7. Fees and Charges

Fees for WIBS PHP services will be disclosed at the time of registration and may be updated from time to time. Government-mandated taxes and charges apply. You agree to pay these fees, which WIBS PHP may deduct directly from your account.

8. Interest on Balances

No interest will be paid on your account balances.

9. Limitations of Liability

WIBS PHP provides its services in compliance with applicable laws and regulations, including but not limited to those set forth by the Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC), and the Securities and Exchange Commission (SEC) in the Philippines, as well as international standards such as FATCA, OFAC, and UN sanctions compliance. However, you expressly acknowledge and agree to the following limitations of liability:

1. No Guarantee of Uninterrupted or Error-Free Service:
   • WIBS PHP does not warrant or guarantee that its services will be uninterrupted, timely, secure, error-free, or free from system failures.
   • Any interruption or failure of service due to maintenance, force majeure, third-party disruptions, or technical malfunctions shall not render WIBS PHP liable.
2. Liability for Instructions and System Malfunctions:
   • WIBS PHP shall not be held liable for any losses, damages, or liabilities resulting from:
     • Incorrect, incomplete, or inaccurate instructions provided by you or authorized third parties.
     • Delays, errors, or failures in processing transactions due to technical malfunctions or limitations beyond WIBS PHP’s reasonable control.
3. Imposition of Transaction Limits:
   • WIBS PHP may, at its sole discretion or as mandated by BSP, AMLC, SEC, FATCA, OFAC, or UN sanctions, impose transaction limits or restrictions on your account.
   • Such limitations may include daily, monthly, or annual thresholds, restrictions on specific transactions, or other operational requirements. WIBS PHP shall not be liable for any inconvenience, loss, or damages arising from such restrictions.
4. Indemnity for Compliance Obligations:
   • You agree to indemnify and hold WIBS PHP, its affiliates, directors, officers, employees, and agents harmless against any claims, losses, damages, liabilities, or penalties arising from:
     • Your failure to comply with applicable laws or regulations.
     • Transactions or actions that violate AML/CFT standards, sanctions, or reporting requirements under BSP, AMLC, FATCA, OFAC, UN sanctions, or SEC regulations.
     • Any breach of these Terms or misuse of WIBS PHP services.
5. No Fiduciary Responsibility:
   • WIBS PHP is not your agent, broker, or fiduciary and does not owe you any duty of care, advisory services, or other obligations beyond processing your authorized transactions as per these Terms.
6. Force Majeure and Third-Party Risks:
   • WIBS PHP shall not be liable for losses, damages, or liabilities arising from events beyond its reasonable control, including but not limited to natural disasters, governmental actions, system failures, or third-party disruptions (e.g., telecommunications, banking networks, or payment processors).
7. Limitation of Damages:
   • In no event shall WIBS PHP be liable for any indirect, incidental, special, consequential, or punitive damages, including but not limited to loss of profits, revenue, or data, arising out of or in connection with the use of WIBS PHP services, even if advised of the possibility of such damages.

By using WIBS PHP’s services, you expressly acknowledge and accept these limitations of liability, which are essential to the operation of WIBS PHP services and compliance with local and international regulatory standards. WIBS PHP’s liability, if any, shall be limited to the extent expressly required by applicable law.

10. Confidentiality and Data Privacy

WIBS PHP collects, processes, and protects your personal data in strict compliance with all applicable laws and regulations, including but not limited to the Philippine Data Privacy Act of 2012 (Republic Act No. 10173), Anti-Money Laundering Act of 2001 (Republic Act No. 9160, as amended), and relevant regulations and issuances by the Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC), and the Securities and Exchange Commission (SEC). WIBS PHP also adheres to international standards such as FATCA, OFAC, and UN Sanctions Compliance for applicable transactions and services.

1. Data Collection and Processing:

By using WIBS PHP’s services, you explicitly consent to the collection, use, processing, storage, and retention of your personal data for the following purposes:

• Verification and authentication of your identity as part of Know-Your-Customer (KYC) requirements under BSP and AMLA regulations.
• Compliance with anti-money laundering and combating the financing of terrorism (AML/CFT) obligations.
• Provision, operation, and improvement of WIBS PHP’s services, including transaction processing and customer support.
• Reporting and disclosure to regulatory authorities as required under applicable laws.

2. Data Usage and Disclosure:

Your personal data may be disclosed by WIBS PHP only under the following circumstances:

• To comply with legal obligations under the Philippine Data Privacy Act, AMLA, BSP Circular No. 1022 (guidelines for AML/CFT compliance), and other relevant laws.
• To authorized government bodies, including but not limited to the BSP, AMLC, and other regulatory or enforcement agencies, in accordance with their statutory authority.
• To financial institutions, counterparties, or service providers involved in facilitating your transactions, subject to confidentiality agreements and applicable laws.
• To third-party service providers contracted by WIBS PHP for operational, technical, or marketing support, provided that such parties are bound by strict data confidentiality obligations.

3. Rights of Data Subjects:

Under the Philippine Data Privacy Act, you have the following rights concerning your personal data:

• The right to access your personal data held by WIBS PHP and to request corrections of any inaccuracies.
• The right to withdraw your consent to data processing, subject to legal and contractual obligations.
• The right to lodge a complaint with the National Privacy Commission (NPC) if you believe your data privacy rights have been violated.

4. Retention and Security:

• Your personal data will be retained by WIBS PHP for as long as necessary to fulfill its obligations under applicable laws, including AMLA’s record-keeping requirements, which mandate retaining certain records for at least five (5) years from the date of the transaction or account closure.
• WIBS PHP employs appropriate technical, organizational, and physical measures to safeguard your data against unauthorized access, disclosure, or breaches. These measures include but are not limited to encryption, access controls, and secure data storage systems.

5. Limitations on Liability:

While WIBS PHP takes all reasonable precautions to protect your personal data, WIBS PHP shall not be held liable for any unauthorized access, disclosure, or misuse of your personal data resulting from circumstances beyond its control, including but not limited to cyberattacks, natural disasters, or third-party negligence, provided WIBS PHP has complied with its legal obligations.

WIBS PHP shall only disclose personal information to government bodies or regulatory authorities upon receipt of a lawful request or order, such as subpoenas, court orders, or regulatory directives. All disclosures will be conducted in strict compliance with applicable laws and regulations.

1. Reference to Legal Obligations:
   • The statement explicitly mentions compliance with the Philippine Data Privacy Act, AMLA, and other laws that require disclosure to government bodies such as the BSP, AMLC, or other regulatory or enforcement agencies.
   • Disclosure is framed as an obligation rather than a choice, ensuring that WIBS PHP can fulfill its statutory duties.
2. Circumstances of Disclosure:
   • The clause allows WIBS PHP to disclose personal data “to authorized government bodies, including but not limited to the BSP, AMLC, and other regulatory or enforcement agencies, in accordance with their statutory authority.”
   • This ensures that any request for disclosure is compliant with laws, such as those outlined in AMLA or BSP Circulars.
3. Scope of Disclosures:
   • Disclosure is limited to purposes defined by law (e.g., anti-money laundering investigations, regulatory audits, or compliance with sanctions).
   • This ensures that WIBS PHP remains compliant without exposing customer data unnecessarily.

By using WIBS PHP services, you acknowledge and agree to the processing, use, and disclosure of your personal data as described herein and as required under applicable laws and regulations. For further details, you may refer to WIBS PHP’s Privacy Policy, available on our website or upon request.

11. AML/CFT Compliance

WIBS PHP operates in strict compliance with the Anti-Money Laundering Act of 2001 (Republic Act No. 9160, as amended), BSP AML/CFT regulations, and international standards, including but not limited to FATCA, OFAC, and UN Sanctions Compliance. The following terms govern WIBS PHP’s obligations and your responsibilities under these frameworks:

1. Compliance with AML/CFT Regulations:

• WIBS PHP implements and maintains policies, procedures, and controls to detect, prevent, and report transactions involving money laundering, terrorist financing, or other illicit activities in compliance with:
  • BSP Circular No. 1022 (Guidelines on Anti-Money Laundering and Combating the Financing of Terrorism).
  • AMLA and its implementing rules and regulations.
  • International standards such as FATF recommendations, FATCA, OFAC, and UN sanctions.

2. Transaction Monitoring and Restrictions:

• WIBS PHP reserves the right to delay, block, or reject any transaction that is:
  • Suspected of violating AML/CFT regulations or sanctions imposed by BSP, AMLC, or international entities.
  • Deemed high-risk or inconsistent with the customer’s declared purpose or transaction patterns.
  • Associated with prohibited jurisdictions or individuals listed in sanction programs under FATCA, OFAC, or the UN.

3. Disclosure of Customer Information:

• In compliance with Section 9(c) of the AMLA, WIBS PHP may disclose your personal and transaction information to relevant authorities, including but not limited to the BSP, AMLC, or international regulatory bodies, under the following conditions:
  • When required by law, such as in response to a subpoena, court order, or regulatory directive.
  • When such disclosure is necessary to prevent, detect, or investigate suspected money laundering, terrorist financing, or related unlawful activities.
• WIBS PHP shall ensure that any disclosure is conducted in accordance with applicable privacy laws, such as the Philippine Data Privacy Act, and limited to what is necessary to comply with legal obligations.

4. Customer Responsibility:

• You agree to provide accurate and truthful information during account registration and throughout your use of WIBS PHP’s services.
• You acknowledge that WIBS PHP may require additional documentation or information to comply with AML/CFT requirements.
• Failure to provide requested information or documentation may result in the suspension or termination of your account and services.

5. Indemnity for Compliance Actions:

• You agree to indemnify and hold WIBS PHP harmless from any claims, liabilities, or damages arising from actions taken to comply with AML/CFT regulations, including but not limited to transaction delays, rejections, account restrictions, or disclosures to authorities.

6. No Liability for Lawful Actions:

• WIBS PHP shall not be liable for any losses, damages, or liabilities incurred as a result of lawful actions taken to comply with AML/CFT obligations. This includes, but is not limited to, rejected or delayed transactions, account closures, or disclosures made to regulatory authorities.

7. Non-Circumvention of Regulations:

• You agree not to use WIBS PHP’s services for activities that attempt to circumvent AML/CFT regulations, including structuring transactions, using false identities, or conducting prohibited transactions.

By using WIBS PHP’s services, you explicitly acknowledge and consent to the compliance actions described herein, including monitoring and disclosure of your transactions to relevant authorities, as required by applicable laws and regulations.

12. Suspension or Termination of Services

WIBS PHP reserves the right to suspend or terminate your access to services at its sole discretion, without prior notice, for reasons including but not limited to the following:

1. Non-Compliance with Terms:
   • Failure to comply with any provision of these Terms and Conditions or other applicable agreements.
   • Violation of WIBS PHP’s policies, including misuse of services.
2. Suspicious or Fraudulent Activities:
   • Engagement in fraudulent, deceptive, or unauthorized activities, including identity theft or falsification of documents.
   • Suspicious patterns of transactions indicative of money laundering, terrorist financing, or other illicit activities.
   • Attempted hacking, system manipulation, or other activities compromising the integrity of WIBS PHP’s platform.
3. Regulatory Requirements:
   • Actions mandated by the Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC), or other regulatory authorities in the Philippines.
   • Inclusion in international sanctions lists, such as those maintained by OFAC, UN, or FATF.
4. Failure to Meet KYC/AML Requirements:
   • Incomplete, inaccurate, or outdated KYC documentation or information.
   • Refusal or failure to provide requested documentation to comply with AML/CFT laws or regulatory requirements.
5. Misuse or Abuse of Services:
   • WIBS PHP strictly prohibits the misuse or abuse of its services for any activities that violate applicable laws, regulations, or ethical standards. This includes, but is not limited to:
   • Prohibited Activities:
     • Use of WIBS PHP’s services for illegal or unregulated activities, including but not limited to:
     • Gambling activities not licensed or authorized under applicable laws and regulations in the Philippines.
     • Pornography-related transactions, particularly those involving content that violates Philippine laws, such as obscenity or anti-child pornography statutes (e.g., Republic Act No. 9775).
     • Trafficking, smuggling, or any other illegal trade.
     • Use of WIBS PHP’s services to engage in or facilitate high-risk, unregulated, or non-compliant purposes that violate AML/CFT standards.
   • System Abuse:
     • Intentionally overloading the system, causing disruptions to services, or engaging in activities that compromise the integrity, security, or performance of WIBS PHP’s platform.
     • WIBS PHP reserves the right to monitor, investigate, and take immediate action, including account suspension or termination, to ensure compliance with local and international regulations, such as those issued by the Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC), and other relevant authorities.
   • By using WIBS PHP’s services, you agree not to engage in or facilitate any of the above activities, and you acknowledge that WIBS PHP will take appropriate measures, including reporting to regulatory or enforcement authorities, where required by law.
6. Breach of Laws or Regulations:
   • WIBS PHP INC. (“WIBS PHP”) strictly prohibits any use of its services that contravenes applicable laws or regulations, including but not limited to the following:
   • Engaging in Illegal Activities:
   • Any activity that violates Philippine laws, including but not limited to the Revised Penal Code, Anti-Money Laundering Act of 2001 (AMLA), Cybercrime Prevention Act of 2012 (Republic Act No. 10175), Tax Code (Republic Act No. 8424), or other relevant statutes.
   • Activities that breach international laws, including compliance with UN Sanctions, FATCA, and OFAC regulations, as well as any laws of jurisdictions involved in the transaction.
   • Facilitating Prohibited Transactions:
   • Using WIBS PHP’s services to engage in or facilitate cross-border transactions that are prohibited or restricted under applicable laws. This includes:
   • Transactions with sanctioned individuals, entities, or jurisdictions as identified by international regulatory bodies or Philippine authorities such as the BSP, AMLC, or the Department of Justice (DOJ).
   • Transactions that contravene foreign exchange regulations or capital flow restrictions under BSP Circular No. 1030 or other applicable BSP issuances.
   • Tax Evasion and Regulatory Non-Compliance:
   • Evading tax obligations or failing to comply with financial reporting requirements, including the submission of truthful and accurate information as mandated by the Bureau of Internal Revenue (BIR) and other regulatory authorities.
   • Engaging in activities designed to circumvent withholding taxes, remittance obligations, or any duties applicable under local or international tax laws.
   • Currency Control Violations:
   • Engaging in unauthorized or unlawful currency conversion or remittance transactions that breach Philippine foreign exchange laws, such as BSP Circular No. 794, which governs cross-border transfer and use of foreign exchange for legitimate purposes.
   • Consequences of Breach:
   • WIBS PHP reserves the right to monitor transactions and report any suspicious or potentially unlawful activity to the appropriate regulatory or law enforcement authorities, including but not limited to BSP, AMLC, and BIR.
   • Transactions that violate laws or regulations may be blocked, reversed, or suspended without notice.
   • WIBS PHP may terminate your account and services in the event of a breach, with no liability for any resulting loss, and may retain funds as required by law or regulation pending investigation or resolution.
   • You will be held fully liable for any legal consequences or penalties arising from your unlawful activities, and you agree to indemnify WIBS PHP against any resulting claims, damages, or liabilities.
     
     
7. Unauthorized Account Access or Sharing:

 WIBS PHP) strictly prohibits any unauthorized access to or sharing of account credentials or ownership. To ensure the security and integrity of its services, the following actions are expressly forbidden:

Unauthorized Access by Third Parties

• Permitting any third party to access or use your account, credentials, or related services without the explicit prior authorization of WIBS PHP.
• Allowing another individual or entity to operate, transact, or manage your account, even temporarily, is considered a violation of these Terms and Conditions.

Sharing or Transferring Account Credentials

• Sharing your account credentials, including but not limited to PINs, passwords, or verification codes, with anyone under any circumstances.
• Unauthorized transfer or assignment of your account ownership to another person or entity without WIBS PHP’s prior written consent.
• Engaging in any action that compromises the confidentiality or exclusivity of your account credentials.

Security Obligations

You are solely responsible for maintaining the confidentiality and security of your account credentials and ensuring that no unauthorized person gains access to your account. Failure to safeguard your credentials may result in the following consequences:

1. Liability for Unauthorized Transactions:
   • You will be held fully responsible for all transactions or activities conducted using your account, including unauthorized or fraudulent transactions resulting from the sharing or compromise of your credentials.
   • WIBS PHP shall not be liable for any losses, damages, or liabilities arising from such unauthorized use.
2. Suspension or Termination:
   • WIBS PHP reserves the right to suspend or terminate your account if unauthorized access or sharing is detected or suspected.
   • The account may remain inaccessible until the issue is resolved and the security of the account is re-established to WIBS PHP’s satisfaction.
3. Reporting Obligations:
   • You must immediately report any suspected unauthorized access or breach of your account credentials to WIBS PHP through designated channels (e.g., customer support).
   • Failure to notify WIBS PHP promptly may result in additional liabilities for losses incurred.

Consequences of Violation

• WIBS PHP reserves the right to take any of the following actions, as deemed necessary, in the event of a violation of this section:
  • Block or restrict access to your account.
  • Reverse or cancel unauthorized transactions, subject to compliance with applicable laws and regulations.
  • Report suspicious activities to regulatory or law enforcement authorities, including the Bangko Sentral ng Pilipinas (BSP) and Anti-Money Laundering Council (AMLC), as required under AML/CFT regulations.

Indemnity

You agree to indemnify and hold WIBS PHP harmless from any claims, damages, losses, or liabilities resulting from unauthorized access or misuse of your account arising from your failure to safeguard your credentials.

By using WIBS PHP’s services, you acknowledge your responsibility to maintain the exclusivity of your account credentials and agree to these provisions. WIBS PHP takes all necessary steps to protect your account, but you are ultimately responsible for ensuring its security.

1. Negative Impacts on WIBS PHP Operations:

WIBS PHP prohibits any actions that negatively impact its operations, reputation, or compliance obligations. Users must acknowledge that any such behavior, whether intentional or negligent, carries significant legal consequences. The following actions are explicitly forbidden:

Prohibited Actions

1. Damage to Operations and Reputation:
   • Engaging in activities that disrupt or interfere with WIBS PHP’s services, systems, or operations, including overloading the system, launching unauthorized access attempts, or initiating fraudulent or high-risk transactions.
   • Using WIBS PHP’s services in a manner that causes reputational harm to WIBS PHP, its affiliates, or its partners.
2. Misinformation and Defamation:
   • Spreading misinformation or defamatory content about WIBS PHP, its services, or its employees through public or private channels, including but not limited to social media, blogs, forums, or other digital or offline platforms.
   • Engaging in false or malicious statements intended to undermine trust in WIBS PHP’s services or compliance standing.

Acknowledgment of Legal Consequences

By using WIBS PHP’s services, you explicitly acknowledge and agree that:

1. Responsibility for Actions:
   • You are fully responsible for any actions that disrupt WIBS PHP’s operations, harm its reputation, or create compliance challenges.
   • WIBS PHP reserves the right to hold you legally and financially liable for damages arising from such actions.
2. Legal Repercussions:
   • Any intentional or negligent acts aimed at disrupting WIBS PHP’s operations or damaging its reputation may result in:
     • Civil liability, including compensation for damages and costs incurred by WIBS PHP.
     • Criminal liability under applicable Philippine laws, including but not limited to the Cybercrime Prevention Act of 2012 (Republic Act No. 10175), the Revised Penal Code, and other relevant statutes.
   • WIBS PHP will cooperate fully with regulatory and law enforcement authorities to pursue legal action against individuals or entities responsible for such acts.
3. Suspension or Termination of Services:
   • WIBS PHP may immediately suspend or terminate your account and services if you are found to be engaging in prohibited actions, with no prior notice required.
   • WIBS PHP reserves the right to withhold or recover funds as necessary to address damages or mitigate further risks.
4. Reporting Obligations:
   • WIBS PHP may report any activities negatively impacting its operations or reputation to relevant authorities, including the Bangko Sentral ng Pilipinas (BSP), Anti-Money Laundering Council (AMLC), and other regulatory or enforcement bodies, as required under applicable laws.

1. Force Majeure or Unforeseen Circumstances:
   • System outages, breaches, or operational risks that require immediate mitigation.
   • Bankruptcy, insolvency, or other financial instability on your part or affecting involved parties.
2. Account Inactivity:

• Extended periods of inactivity, particularly if the account balance is zero or below minimum required thresholds.

1. Breach of Third-Party Rights:

• Activities that infringe on the intellectual property, privacy, or other rights of WIBS PHP, its partners, or other third parties.

1. Violation of Sanctions or Embargoes:

• Transactions involving sanctioned entities, individuals, or jurisdictions as identified by FATF, OFAC, UN, or other regulatory bodies.

1. Exceeding Transaction Limits or Restrictions:

• Persistent violation of transaction limits set by WIBS PHP or imposed by regulatory authorities.
• Engaging in structured transactions to evade limits or reporting thresholds.

Notification and Remedies

• WIBS PHP will, where possible, notify you of the suspension or termination and provide the reason(s) and any remedies or actions required to restore access to the services.
• Certain actions may be irrevocable if deemed necessary to comply with regulatory or legal obligations.

By using WIBS PHP’s services, you acknowledge and agree to these terms regarding suspension or termination of access. WIBS PHP shall not be liable for any losses or damages arising from actions taken in accordance with this section.

13. Governing Law

These Terms are governed by the laws of the Philippines.

Section II: General Provisions

1. Amendments to Terms

WIBS PHP reserves the right to amend, modify, or revise these Terms and Conditions at its sole discretion, subject to applicable laws and regulations.

• Notification of Changes:
  • Any amendments to these Terms will be communicated to you at least thirty (30) days prior to their effective date.
  • Notification methods may include announcements on WIBS PHP’s official website, email communications, SMS messages, or any other appropriate means as determined by WIBS PHP.
• Binding Effect of Amendments:
  • By continuing to use WIBS PHP’s services after the amendments take effect, you explicitly acknowledge and accept the revised Terms as binding.
  • If you do not agree with the amended Terms, you must immediately discontinue your use of WIBS PHP’s services.
• Compliance with Regulations:
  • Any amendments will comply with applicable regulatory requirements, including those set forth by the Bangko Sentral ng Pilipinas (BSP) and other governing authorities.

2. Force Majeure

WIBS PHP shall not be held liable for any failure or delay in providing services due to events or circumstances beyond its reasonable control.

• Scope of Force Majeure Events:
  • Events include but are not limited to natural disasters (e.g., earthquakes, floods, typhoons), acts of war or terrorism, pandemics, government-imposed restrictions, regulatory actions, system failures, or disruptions to telecommunications or power supply.
• Exemption from Liability:
  • WIBS PHP’s obligations under these Terms shall be suspended for the duration of the force majeure event.
  • WIBS PHP shall not be responsible for any losses, damages, or liabilities incurred by you as a result of such events.
• Efforts to Resume Services:
  • WIBS PHP will make reasonable efforts to resume services promptly after the force majeure event subsides.

3. Indemnity

You agree to indemnify and hold WIBS PHP, its affiliates, officers, employees, and agents harmless from and against any and all claims, damages, losses, liabilities, costs, or expenses (including reasonable legal fees) arising from:

• Your Breach of Terms:
  • Any violation or breach of these Terms, applicable laws, or regulations by you.
  • Failure to provide accurate or complete information required for compliance purposes, including Know-Your-Customer (KYC) and Anti-Money Laundering (AML) obligations.
• Misuse of Services:
  • Unauthorized or fraudulent use of WIBS PHP’s services, accounts, or platforms by you or any third party acting on your behalf.
  • Activities that result in reputational, operational, or regulatory harm to WIBS PHP.
• Third-Party Claims:
  • Claims or disputes arising from transactions conducted using WIBS PHP’s services, including disputes between you and third parties.

Legal Consequences and Actions

1. WIBS PHP reserves the right to pursue legal remedies and recover damages arising from your breach of these Terms or misuse of services.
2. Any indemnity obligations under this section shall survive the termination or expiration of these Terms.

By using WIBS PHP’s services, you expressly agree to these General Provisions and acknowledge the rights and responsibilities outlined herein. WIBS PHP will enforce these provisions to the fullest extent permitted by law.

4. Contact Information

For inquiries or disputes, please contact WIBS PHP via Q&A and contact form.