VENTORPAY CONSUMER TERMS AND CONDITIONS

1. ABOUT VENTORPAY

VentorPay is licensed by the State Bank of Pakistan (SBP) as an Electronic Money Institution (EMI) under the applicable EMI Regulations. VentorPay provides electronic money issuance and payment services in accordance with Applicable Laws.

2. SCOPE

These Terms of Use govern the opening, operation, and closure of your VentorPay Account and your use of the Services available on the VentorPay Platform. Together with our Policies and any additional terms and conditions referred to herein, they constitute a legally binding agreement between you and VentorPay.

For the use of certain Services, you may be required to accept additional terms and conditions as notified to you at the time of procuring or using such Services (“Additional T&Cs”).

You are advised to print or download and retain a copy of these Terms of Use for future reference. The most current version of these Terms of Use will always be available on the VentorPay Platform.

3. YOUR VENTORPAY ACCOUNT

3.1 Account Registration

In order to use our Services, you must first open a VentorPay Account by registering on the VentorPay Platform. As part of the registration process, you will be required to create a VentorPay ID (for example, user@gmail.com or +92 ). This ID will be used to identify you as a VentorPay user.

VentorPay retains full rights over all VentorPay IDs. VentorPay may, without prior notice, revoke or require you to change your VentorPay ID. You will be provided with the option to select an alternate VentorPay ID as part of the change procedure.

3.2 Account Categories

VentorPay offers the following account categories:

(a) Adult Account (18 Years and Over)

Individuals who are at least eighteen (18) years of age and possess full legal capacity may open and operate a VentorPay Account independently.

By opening an Adult Account, you represent and warrant that:

• You are eighteen (18) years of age or older;

• You have full legal capacity to enter into and be bound by these Terms of Use;

• Your use of the VentorPay Services does not violate any Applicable Laws.

(b) Teen Generation Account (Under 18 Years of Age)

Individuals under eighteen (18) years of age may open a Teen Generation VentorPay Account subject to parental or legal guardian consent and verification requirements.

The parent or legal guardian must:

• Provide verifiable consent;

• Complete required identity verification procedures;

• Accept responsibility in accordance with Applicable Laws.

VentorPay reserves the right to apply specific limitations to Teen Generation Accounts, including but not limited to:

• Reduced load, payment, and withdrawal limits;

• Restricted access to certain Services;

• Merchant category restrictions;

• Monitoring and compliance controls.

Upon the account holder attaining eighteen (18) years of age, VentorPay may require updated verification and may convert the Teen Generation Account into an Adult Account subject to applicable procedures.

3.3 Verification Requirements

All VentorPay Accounts, including Adult Accounts and Teen Generation Accounts, are subject to identity verification requirements in accordance with Applicable Laws and regulatory obligations.

Verification may be conducted through digital and compliance verification mechanisms, including but not limited to processes certified or verified through QSCERT or other legally recognized verification authorities.

VentorPay reserves the right to:

• Request additional documentation at any time;

• Conduct enhanced due diligence;

• Restrict, suspend, or terminate accounts that fail to satisfy verification requirements.

3.4 Nature of the VentorPay Account

Your VentorPay Account holds E-Money which enables you to use the Payment Services.

Your VentorPay Account:

• Is denominated in PKR;

• Does not earn interest, mark-up, or any other form of return;

• Does not constitute a bank account or deposit.

By accepting these Terms, you acknowledge that the Banking Companies Ordinance, 1962 does not apply to your VentorPay Account.

All E-Money issued is fully backed by funds held separately from VentorPay’s own funds in a trust account administered in accordance with EMI Regulations.

3.5 Account Ownership

The E-Money in a VentorPay Account belongs solely to the registered account holder.

In the case of a Teen Generation Account, funds legally belong to the minor account holder, subject to parental or guardian oversight as required under Applicable Laws and VentorPay policies.

You may not assign, transfer, pledge, or otherwise grant any third party any legal or equitable interest in your VentorPay Account.

3.6 Representations and Warranties

By opening a VentorPay Account, you represent and warrant that:

• The opening of the account does not violate any Applicable Laws;

• All information provided during registration and thereafter is true, complete, and accurate;

• You will update your information promptly if it changes.

VentorPay may rely on the information provided by you for compliance, regulatory, and operational purposes.

If you would like, I can now continue drafting Sections 4 through 14 in the same structured legal format so the entire document becomes a complete, regulator-ready VentorPay Terms of Use. 

Below is a professionally drafted clause you can insert under Section 1 (ABOUT VENTORPAY) to describe the Owner:

You may place this as Section 1.2 – Ownership and Control.

4.0 Ownership and Control

VentorPay is owned and operated by [VentorPay], a company duly incorporated and existing under the laws of Pakistan, having its registered office at [Registered Address] (the “Ventorpay”).

The Company is responsible for the management, operation, and administration of the VentorPay Platform and the provision of Services in accordance with applicable laws and regulatory requirements, including but not limited to the EMI Regulations issued by the State Bank of Pakistan.

All rights, title, and interest in and to the VentorPay Platform, including intellectual property rights, software, systems, branding, and related materials, are owned by or licensed to the Company.

If you provide the actual:

• Muhmmad Ahmad

• Registration number (3323782179)

• Registered address (Paksiatan)

I can draft a fully finalized, regulator-ready ownership clause tailored to your company.