WorldFirst New User Promotion Terms and Conditions

These terms and conditions (these “Terms and Conditions“) govern the Promotion (as defined below). By participating in the Promotion, you confirm that you accept these Terms and Conditions and agree to comply with them.

1. Definitions and Interpretation

In these Terms and Conditions, the following words and expressions shall have the following meanings:

1.1 “Promotion” shall have the meaning given to such term in the clause 2;

1.2 “Promotion Period” shall have the meaning given to such term in clause 3;

1.3 “Reward Criteria” shall have the meaning given to such term in clause 4;

1.4 “Reward” shall have the meaning given to such term in clause 4;

1.5 “Service Fee” means service fee payable by a WorldFirst customer in respect of cross-currency payments/withdrawals or a same-currency payments/withdrawals carried out using the WorldFirst portal;

1.6 “SIAC” means the Singapore International Arbitration Centre;

1.7 “World Account” means the WorldFirst World Account, as provided by WorldFirst;

1.8 “World Account Terms” means all of the prevailing terms and conditions, including the privacy policies, governing the World Accounts;

1.9 “WorldFirst” refers to Alipay Merchant Services Pte. Ltd.

2. Description of the Promotion

2.1 During the Promotion Period, a WorldFirst customer that is registered in the countries and regions supported by the account service offered by WorldFirst and satisfies the Reward Criteria may be eligible to receive the Reward.

3. Promotion Period

3.1 The promotion period begins at 00:00:01 on 26 june 2024 and ends at 23:59:59 on 25 September 2024 (Singapore Time) (the “Promotion Period“).

3.1.1 Reward

3.2 A WorldFirst customer may be eligible to receive the Reward, provided that:

3.2.1 such person was not an existing WorldFirst customer and had not applied for a World Account immediately preceding the Promotion Period; and

3.2.2 such person has successfully registered for a World Account through an invitation code “Phenix” and completes WorldFirst’s authentication and review process;

(collectively, the “Reward Criteria“).  

3.3 A WorldFirst customer who has satisfied the Reward Criteria during the Promotion Period may enjoy waiver on the Service Fee for a period of three (3) months from the date where the Reward Criteria is satisfied (“Reward”), subject to these Terms and Conditions. The Reward will automatically be applied to the World Account of such WorldFirst customer upon the Reward Criteria being satisfied.

3.4 The Reward is not transferable or exchangeable for credit, products, or privileges or other benefits or payments in kind, whether in full or in part, and is not refundable or replaceable.

3.5 Should WorldFirst determine, in its sole discretion, that a participant is not eligible to receive the Reward or to participate in the Promotion for any reason (including but not limited to a breach of these Terms and Conditions or any applicable laws or regulations, improper use of any information relating to the Promotion, fraud, attempted fraud, or any other illegal or illegitimate activity), or where WorldFirst has knowledge of subsequent events which would mean that the participant would not have been entitled to receive the Reward, WorldFirst has the right to disqualify such participant and shall not be liable to any such participant. WorldFirst further reserves the right to claw back the Reward or deduct the value of the Reward from the participant’s World Account(s).

4. Further Terms

4.1 WorldFirst reserves the right to, in its sole discretion, determine and/or decide all matters relating to or arising in connection with the Promotion and/or these Terms and Conditions without prior notice. Any such determination and/or decision will be final and binding.

4.2 To the extent permitted by applicable law, WorldFirst reserves the right to amend the terms of the Promotion, and/or to suspend or cancel the Promotion at any time, without liability to any party. WorldFirst also reserves the right to extend the Promotion Period in its discretion and these Terms and Conditions shall apply to any such extended Promotion Period. Any amendments to the Promotion will be published on the Promotion webpage and/or notified to users in an appropriate manner. Following any change or amendment to these Terms and Conditions, your continued participation in the Promotion constitutes your acceptance of the amended Terms and Conditions and the Promotion in force at that time. The FX rate that WorldFirst provides for transactions must comply with applicable laws and regulations.

4.3 Persons participating in the Promotion shall bear all expenses (including any tax liability) arising from and/or in connection with participating in the Promotion.

4.4 Any clauses in these Terms and Conditions determined by any court or other competent authority to be unlawful and/or unenforceable will be treated as severed from these terms and conditions and will not invalidate other clauses of these terms and conditions which will continue in full effect.

4.5 These terms and conditions are made for the benefit of participants of the Promotion, and are not intended to benefit any third party or be enforceable by any third party.

4.6 WorldFirst reserves the right, at its sole discretion, to refuse a claim in connection with the Reward if it has reasonable grounds to believe that any relevant participant has:

4.6.1 breached these Terms and Conditions;

4.6.2 misused WorldFirst’s intellectual property rights including trademarks and/or materials;

4.6.3 made any misrepresentations (negligently or fraudulently);

4.6.4 abused the Promotion; and/or

4.6.5 engaged in any illegal or criminal activity including fraud in connection with the Promotion or any application for WorldFirst services.

4.7 The World Account Terms shall apply to existing WorldFirst customers and are to be read together with these Terms and Conditions. Please refer to the World Account Terms for further information. In the event of any conflict or inconsistency between these Terms and Conditions and any of the World Account Terms, these Terms and Conditions shall prevail only to the extent of matters relating to the Promotion. In the event of any conflict or inconsistency between these Terms and Conditions and any terms set out in any marketing materials prepared for the Promotion, these Terms and Conditions shall prevail. While all information provided herein is believed to be correct and reliable at the time of printing or publishing or posting online, WorldFirst makes no representation or warranty whether expressed or implied, and accepts no responsibility or reliability for its completeness or accuracy.

4.8 To the fullest extent permitted by applicable law, under no circumstances will WorldFirst or any of its affiliates be liable under any theory of tort, contract, strict liability or other legal or equitable theory for lost profits, indirect, incidental, special, consequential, exemplary, or punitive damages, each of which is excluded by agreement between WorldFirst and you regardless of whether such damages were foreseeable or whether WorldFirst or any person has been advised of the possibility of such damages. Notwithstanding anything in these Terms and Conditions to the contrary, WorldFirst’s cumulative liability, including for claims, expenses, damages or indemnity obligations under or in connection with its obligations under these Terms and Conditions, will not exceed USD$500,000. In no event shall WorldFirst, its affiliates, agents, representatives, directors, officers, or employees be liable for any act or omission resulting from circumstance beyond their reasonable control. To the fullest extent permitted by applicable law, you hereby waive any and all rights to bring any claim or action related to the Promotion beyond one (1) year from the first occurrence of the act, event, condition or omission on which such claim or action is based.

4.9 Any dispute arising out of or in connection with these Terms and Conditions and/or the Promotion, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the SIAC in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. The seat of the arbitration shall be Singapore. The Tribunal shall consist of one arbitrator. The language of the arbitration shall be English. These Terms and Conditions shall be governed by and construed in accordance with the laws of Singapore.

4.10 If you have any questions or complaints, please call WorldFirst on +65 6805 4380. Lines are open from 9:00 am to 6:00 pm on Monday to Thursday and 9:00 am to 5:00 pm on Friday (Singapore time). Alternatively, you can email WorldFirst at [email protected]. WorldFirst’s registered address is 128 Beach Road, #20-01, Guoco Midtown Office, Singapore 189773.