1.1. These Terms of Use (“Terms”) is a contract between ONE Payments Pte. Ltd. (“ONE Payments”, “we”, “us”, “our”), and any entity that registers for or uses the Services (“Merchant”, “User”, “You”);
(collectively Parties, and each a party).
1.2. By registering for, accessing, or using the Services, You agree to be bound by these Terms including the POS Terminal Hardware Terms of Use (where applicable), the applicable Merchant Services Agreement (where one is separately executed with You), the Pricing Schedule applicable to Your account, and any policies reference by ONE Payments. If there is a conflict between these Terms and a duly executed Merchant Services Agreement, the Merchant Services Agreement (“MSA”) prevails to the extent of the inconsistency.
1.3. Where no MSA is executed between You and ONE Payments, these Terms and POS Terminal Hardware Terms of Use (where applicable) govern Your use of the Services, and the Pricing Schedule applicable to Your Merchant Account is ONE Payments’ standard published rate card in force from time to time, unless ONE Payments confirms different terms to You in writing.
1.4. If You do not agree to these Terms, You must not register for, or use the Services. We strongly recommend and urge that You maintain a copy of these Terms for Your records.
means the account established for a Merchant to access the Service
means all applicable statuses, regulations, notices, guidelines and directives of MAS and any other competent authority in Singapore, including the PSA, the PSA notices (including PSN01 etc.), the Personal Data Protection Act 2012 (“PDPA”), applicable card scheme rules, and any law, regulation, guidelines, or generally accepted practices applicable to Merchant
means the business activities, goods and services offered by the Merchant to its end-customers as declared during Merchant’s onboarding
means ONE Payments’ official website where Merchant logs in directly
means the Services, hardware or software including but not limited to the API, Merchant Dashboard and other services as outlined to Merchant
means the customers and/or consumers of Merchant
means personal data and transaction data of a Merchant’s end-customers processed through the Services, including cardholder data as defined under the Payment Card Industry Standard (“PCI-DSS”)
means each licensed financial institution or payment processor engaged by ONE Payments from time to time under a written arrangement to carry out regulated activities (including safeguarded account holding, settlement, or payment methods supporting the Services). The identity of the Partner Institution(s) applicable to Merchant’s Transactions may be confirmed upon request
means a method of enabling incoming and outgoing payments provided by a payment service provider. Such payment service providers includes but are not limited to, banks, card associations, payment gateway companies, e-wallet payment companies, prepaid card issuer companies including credit card or debit card, which may be used to carry out a Transaction
means the schedule of fees applicable to Merchant, whether set out in a Merchant Services Agreement, an account confirmation, or standard published rate
means the point-of-sale device with built in card reader for the purposes of accepting and processing in-person payment options including but not limited to credit/debit cards, NFC or QR-code based wallets, and any accessories or peripherals
has the meaning given in clause 12
means a bank account nominated by Merchant that is in the name of, and belongs to the Merchant
means a payment transaction initiated by either the Merchant through the Merchant Account or initiated by an end-customer and processed through the Services
means the information recorded from Transactions
2.1. In these Terms, unless the context otherwise requires:
a. headings are for convenience only;
b. words importing the singular includes the plural and vice versa;
c. a person includes references to an individual, a firm, a corporation (where incorporated), unincorporated associations, trusts, and partnerships;
d. no provision of this Terms shall be interpreted adversely against a party, solely because that party was responsible for drafting that provision; and
e. any reference to a law, regulation, rule, directive, delegated legislation, enactment or statutory provision is a reference to it as it may have been, or may from time to time be amended, modified, consolidated, re-enacted, or replaced and includes subsidiary legislation made thereunder.
3.1. Any regulated payment services (including merchant acquisition, account issuance, domestic money transfer, cross-border money transfer, e-money issuance services, and safeguarding) made available in connection with the Services are provided by the applicable Partner Financial Institution acting as principal under its own license issued by MAS. Where applicable, Your monies are handled and safeguarded by the Partner Financial Institution in accordance with the regulatory requirements applicable to it.
3.2. ONE Payments provides the Services as an appointed partner to the Partner Financial Institution, performing functions such as, merchant sourcing, onboarding support, technology interface and support, and customer service (collectively, the “Services”), in each case under the applicable arrangements with, and subject to the oversight and final approval of, the Partner Institution.
3.3. For the avoidance of doubt, ONE Payments is not the provider, and does not provide any regulated payment service under Applicable Law.
3.4. ONE Payments has applied for, or intends to apply for its own Major Payment Institution (“MPI”) license from MAS. If and where such license is granted, ONE Payments will update these Terms to accurately reflect its regulatory status and the activities we carry on it our own capacity, and will notify Merchants of that change in accordance with clause 22.
4.1. To use the Services, You must complete the registration process and provide such documentation as ONE Payments and/or the Partner Financial Institution reasonably requires to conduct customer due diligence, enhanced due diligence, and onboarding monitoring in accordance with Applicable Law.
4.2. You represent and warrant that all information provided during registration and throughout the term of these Terms is true, complete, and accurate, and You undertake to notify ONE Payments promptly of any change to such information, including changes in beneficial ownership, business model, or the nature of goods and/or services sold.
4.3. ONE Payments and/or its Partner Financial Institution may decline an application, or approve an application subject to conditions (including a Rolling Reserve or transaction limits), in its reasonable discretion exercised in accordance with its policies.
4.4. You consent to ONE Payments and the Partner Financial Institution sharing Your information, including Your End-Customer Data, with each other, card schemes, and with regulators, law enforcement, and other third parties as required by Applicable Law or reasonably necessary to provide the Services, subject to clause 14.
5.1. ONE Payments will provide the Services in accordance with these Terms and any applicable Merchant Services Agreement. ONE Payments will use commercially reasonable efforts to make the Services available on a continuous basis, subject to scheduled maintenance, Force Majeure, and matters beyond our reasonable control.
5.2. ONE Payments does not guarantee uninterrupted or error-free operations of the Services. Where a Merchant Services Agreement specifies a service level commitment, that commitment applies in place of this clause 5.2 to the extent of any inconsistency.
5.3. The Services support the processing of Transactions using various payment methods from time-to-time, such as card payments, PayNow, e-wallets, and other payment methods (each a “Payment Method”). The availability of a given Payment Method on Your Merchant Account depends on the arrangements between ONE Payments, the Partner Financial Institution, and the relevant Payment Method provider or scheme.
5.4. Certain Payment Methods may only be enabled on Your Merchant Account if You separately register with, and enter into a direct agreement with, the relevant Payment Method provider or scheme. When this applies, ONE Payments will notify You of the requirement before the Payment Method is enabled, and You must complete that registration, and comply with that provider’s onboarding and due diligence requirements, before using the relevant Payment Method.
5.5. Where You use a Payment Method that requires a direct agreement under Clause 5.4, You must comply with that Payment Method provider’s or scheme’s applicable terms, operating rules, and card scheme (as relevant) for all Transactions processed using that Payment Method. If there is a conflict between these Terms and a Payment Method provider’s rules on a matter specific to that Payment Method (such as chargeback timelines or dispute procedures), the Payment Method provider’s rules prevail in respect of that matter only.
5.6. ONE Payments is not liable for the acts, omissions, fees, or service levels of any third-party Payment Method provider with which You enter into a direct agreement under Clause 5.4. Your recourse in relation to that Payment Method is against the relevant provider under Your direct agreement with them, without prejudice to ONE Payments’ own obligations to You under these Terms in respect of the Services ONE Payments itself provides.
6.1. You must not use the Services to process transactions for any business activity listed in the Prohibited Business List, and must obtain ONE Payments and/or its Partner Financial Institution’s prior written approval, which may be granted subject to conditions, before processing transactions for any activity listed in the Restricted Business List. Both lists are published and updated by ONE Payments from time to time and incorporate into these Terms by reference.
6.2. Where ONE Payments amends the Prohibited and Restricted Business List in a manner that affects Your existing business activity, ONE Payments will give You not less than thirty (30) days prior written notice before that amendment applies to Your Merchant Account, save where a shorter period or immediate effect is required by Applicable Law, a card scheme mandate, a requirement by the Partner Financial Institution, or to prevent imminent financial, legal, or reputational harm.
6.3. You agree and acknowledge that:
a. the Services will be used by You for Your declared goods and/or services only;
b. notwithstanding anything to the contrary, You will not use Our Services for any goods and/or services where it is illegal to offer or provide these to;
c. the provision, or intended provision of Our Services to Your goods and/or services shall not be interpreted as the provision of any advice or opinion as to the legality, regulatory, conformity to Applicable Laws or whatsoever; and
d. You remain solely responsible for ensuring that Your goods and/or services offered are in compliance with Applicable Law in the country of origin and the countries that Your goods and/or services are offered.
6.4. Where ONE Payments or its Partner Financial Institution, in its sole discretion reasonably determines that:
a. there is a significant risk of such violations;
b. You cease to be compliant or violate such Applicable Laws; or
c. You are processing transactions for a prohibited or restricted activity without approval;
ONE Payments or its Partner Financial Institution may freeze, suspend, or terminate the Services offered to you immediately.
7.1. Upon successful onboarding by the applicable Partner Financial Institution, You will be provided access to the Merchant Account issued and maintained by the applicable Partner Financial Institution. ONE Payments provides the technology interface which You may access information relating to Your Merchant Account.
7.2. Transactions submitted through the Services are processed by the applicable Partner Financial Institution. Net Transaction proceeds will be credited or settled in accordance with the arrangements applicable to the relevant Payment Method and/or Partner Financial Institution.
7.3. You may request a payout of the available balance in Your Merchant Account, subject to any minimum balance, payout frequency, or Rolling Reserve requirements.
7.4. The Merchant Account is a business account issued to You solely for use in connection with Your business activities under these Terms. You must not use the Merchant Account for any personal, non-business purposes, and You must ensure that all payouts are applied only towards the business purposes of Your business. ONE Payments may decline or delay a payout, and may request supporting information, where We reasonably suspect a payout is intended for a non-business purpose.
7.5. One Payments will only process a withdrawal to a Settlement Account that is a bank account held in Singapore in the matching name of Your Merchant Account (a “first-party transfer”). ONE Payments will not process, and You must not request, a withdrawal to a bank account held in the name of a third party, including a director, shareholder, employee, affiliate, customer, or supplier of Yours, even where You represent that You have authority to receive funds on that third party’s behalf and vice versa.
7.6. Before processing a payout for the first time, or before processing a payout following a change to Settlement Account details, ONE Payments may require You to complete a verification process (such as a bank statement, account confirmation letter, or micro-deposit verification) to confirm that the Settlement Account is held in Your own legal name, or the nature and purpose of the payout, and may suspend payouts pending completion of that verification.
7.7. You are responsible for the accuracy of any Settlement Account details or payout account details provided to ONE Payments. ONE Payments is not liable for any delay or misdirection of payout caused by inaccurate details, or by a delay in Your completing verification under Clause 7.6.
7.8. Transaction Data made available to You through the Services is provided for reconciliation purposes. Where a discrepancy is identified, You must notify ONE Payments within thirty (30) calendar days of the Transaction giving rise to the discrepancy. ONE Payments will investigate any timely notified discrepancy and use reasonable efforts to rectify the discrepancy.
7.9. You acknowledge and confirm that:
a. You are acting on Your own behalf. ONE Payments does not become the seller, supplier or provider of Your goods or services, and is not a party to any Transactions or relationship between You and Your End-Customers/payers/payees; and
b. Neither ONE Payments nor its Partner Financial Institution is a principal or party to any Transaction, or be responsible for, or otherwise guarantee the performance of any Transactions entered into by You and Your end-customers/payers/payees. You remain solely responsible and liable for all acts and omissions of Your End-Customers/payers/payees.
8.1. Funds in connection with Your Transactions are safeguarded by the applicable Partner Financial Institution in accordance with applicable regulatory requirements. ONE Payments does not hold Merchant funds as principal under these Terms.
8.2. Any funds held as part of a Rolling Reserve are held on the same safeguarded basis as described in clause 8.1.
8.3. Nothing in this clause 8 constitutes deposit insurance. For the avoidance of doubt, the funds held in the Merchant Account is not a banking account, is not subjected to the Banking Act 1970 of Singapore and it is non-interest bearing.
9.1. You are responsible for handling refund requests from Your end-customers in accordance with Applicable Law, applicable card scheme rules, and Your own published refund policy.
9.2. You are liable for all chargebacks, reversals, refunds, and related fees arising from Transactions processed through Your Merchant Account, save to the extent the chargeback, reversal, refund arises from ONE Payments’ or the Partner Financial Institution’s negligence, fraud, or willful misconduct.
9.3. ONE Payments may, to the extent permitted by Applicable Law and the applicable Partner Financial Institution arrangements, set off or recover any amounts including fees owed by Merchant under this clause.
10.1 You must notify ONE Payments immediately, and in any event within thirty (30) calendar days, after becoming aware of any unauthorised or erroneous Transactions on Your Merchant Account. For notifications within the stipulated timeframe, ONE Payments shall use reasonable endeavors to assist You to obtain a transaction resolution subject to Applicable Law.
10.2. Subject to clause 10.3, neither ONE Payments nor its Partner Financial Institution is liable for losses arising from unauthorised or erroneous Transactions that is not notified within the period in clause 10.1.
10.3. Nothing in this clause limits ONE Payments liability for losses caused by its own fraud, willful misconduct, or gross negligence.
11.1. The fees applicable to You is set out in the Pricing Schedule. Fees may include charges payable by ONE Payments to the Partner Institution and/or relevant card schemes; these are reflected in the all-in-pricing shown in Your Pricing Schedule and are not separately itemised unless required by Applicable Law.
11.2. All fees are exclusive of Goods and Services Tax (GST) and any other applicable tax, which will be added where chargeable.
11.3. ONE Payments may amend the Pricing Schedule on not less than thirty (30) days prior written notice, save for changes that reduce fees or that are required to implement a card scheme or regulatory mandate, which may take effect immediately. If You do not agree to the fee increase, You may terminate Your Merchant Account before the changes takes effect without early termination charges applying to that termination.
12.1. ONE Payments may, based on its risk assessment of Your business (including but not limited to, transaction history, chargeback and refund rates, and/or financial standing), require a Rolling Reserve to be held as security against potential chargebacks, refunds, fines, and other liabilities that may arise from Your use of the Services.
12.2. When a Rolling Reserve is required, ONE Payments will notify You of the percentage, amount and holding period (as applicable) and that amount will not be accessible for the period.
12.3. ONE Payments will review the continued need for, and level of Rolling Reserve periodically, and will release amounts no longer reasonably required to cover potential liabilities under clause 12.1, subject to any minimum holding period as communicated to You.
12.4. On termination of these Terms, any Rolling Reserve balance will be held for such period as it is reasonably necessary to cover chargebacks and other liabilities which may arise from Transactions processed before termination (which will not exceed one hundred and eighty (180) days, save where a longer period is reasonably justified by Your chargeback or refund history), after which any remaining balance will be released to Your Settlement Account.
12.5. Rolling Reserve funds are safeguarded in accordance with clause 8 and are strictly not used by ONE Payments for its own working capital or general corporate purposes.
13.1. These Terms take effect on the date You first accept them and continue until terminated in accordance with this clause 13.
13.2. Either party may terminate these Terms for convenience on not less than thirty (30) calendar days prior written notice to the other party, unless a longer notice period is agreed in a Merchant Services Agreement.
13.3. ONE Payments may suspend the Merchant Account with immediate effect, or terminate these Terms on a written notice with immediate or shorter effect than clause 13.2 where:
a. required by Applicable Law, a regulator, card scheme, or competent authority;
b. You are in material breach of these Terms, and where the breach is capable of remedy, You fail to remedy it within fourteen (14) calendar days of notice;
c. You process transactions for a prohibited activity;
d. ONE Payments reasonably suspects fraud, money laundering, terrorism financing, or sanctions exposure;
e. continuing to provide the Services would expose ONE Payments to material and/or imminent risk of financial, legal, regulatory or reputational harm; or
f. the applicable Partner Financial Institution, card scheme, payment network or payment service provider suspends, restricts or terminates the Service or requires ONE Payments to do so.
13.4. On termination;
a. all outstanding fees become immediately due;
b. settlement of pending Transactions and treatment of any Rolling Reserve will proceed in accordance with clause 7 and 12, and
c. clauses 2, 8, 12, and 14 to 24 survive the termination.
14.1. Each party will comply with the PDPA and other Applicable Law in respect of personal data, including End-Customer Data, that it collects, uses, discloses, or processes in connection with these Terms.
14.2. You represent and warrant that any personal data, including End-Customer Data, provided or made available to ONE Payments and/or a Partner Financial Institution has been lawfully collected, used and disclosed, and that all necessary notifications, consents or other legal bases required under Applicable Law have been obtained.
14.3.You must take reasonable steps to protect personal data and access credentials under Your control and must promptly notify ONE Payments if You become aware of any actual or suspected unauthorised access, disclosure, loss or compromise of personal data relating to the Services.
14.4. ONE Payments implements reasonable security arrangements to protect personal data in its possession or control against unauthorised access, collection, use, disclosure, copying, modification, disposal or similar risks.
14.5. Where ONE Payments transfers personal data outside Singapore, it will take appropriate steps to ensure that the transferred personal data is protected with a standard of protection comparable to the PDPA.
14.6. ONE Payments will retain relevant data and records for periods required under Applicable Law, including after termination of these Terms.
15.1. Each Party will keep confidential the other Party’s non-public business, financial, and technical information in connection with these Terms, and will only use such information to perform its obligations under these Terms.
15.2. This confidentiality clause does not apply to information that is public other than by breach of these Terms, is independently developed, is lawfully received from a third-party without duty of confidence, or is required to be disclosed by Applicable Law or a regulator, provided that, where legally permitted, the disclosing party gives the other party reasonable notice before disclosure.
16.1. All intellectual property rights in the Services, including software, documentation, and any ONE Payments trademarks, remain the property of ONE Payments or its licensors. You are granted a limited, non-exclusive, non-transferable license to use the Services during the term of these Terms for Your business purposes.
16.2. You grant ONE Payments a limited license to use Your trademarks and business name to identify You as a merchant of ONE Payments in marketing materials, subject to Your prior written approval of each specific use, which approval must not be unreasonably withheld.
17.1. Each Party represents and warrants that it has full power and authority to enter into and perform these Terms, and that doing so does not breach any other agreement or Applicable Law binding it.
17.2. You represent and warrant on an ongoing basis that:
a. You will hold all licenses, permits, and approvals required to conduct Your business and sell the goods or services offered to Your End-Customers;
b. Your business activities do not fall within the Prohibited Business List and, where applicable to the Restricted Business List, are approved under clause 6; and
c. You will comply with Applicable Law, including AML/CFT obligations applicable to Your business.
18.1. You will indemnify and hold harmless ONE Payments and the Partner Financial Institution against all reasonable losses, liabilities, and costs (including reasonable legal costs) arising from
a. Your breach of these Terms;
b. Your breach of Applicable Law;
c. a claim from Your End-Customer or third-party arising from goods and services You supplied; of
d. Your fraud or wilful misconduct – save to the extent such losses, liabilities, or costs arise from ONE Payments’ or the Partner Financial Institution’s own negligence, fraud or wilful misconduct.
18.2. ONE Payments will indemnify and hold harmless the Merchant against all reasonable losses, liabilities, and costs (including reasonable legal costs) arising from ONE Payments fraud, wilful misconduct, or gross negligence in providing the Services.
19.1. Neither Party is liable for any failure or delay in performing its obligations caused by matters reasonably beyond its control, including natural disasters, war, civil unrests, acts of God, acts of government, failure of telecommunications or infrastructure, and pandemics, provided the affected party gives prompt notice and uses reasonable efforts to mitigate the impact.
20.1. Nothing in these Terms excludes or limits either Party’s liability for:
a. death or personal injury caused by its negligence;
b. fraud or fraudulent misrepresentation;
c. wilful misconduct or gross negligence; or
d. any other liability that cannot be excluded or limited as a matter of Singapore law.
20.2. Subject to clause 20.1, ONE Payments’ aggregate liability to You arising out of or in connection with these Terms is limited to the total fees paid or payable to ONE Payments by the Merchant during the twelve (12) months immediately preceding the event giving rise to the claim.
20.3. Subject to clause 20.1, neither Party is liable to the other for indirect, consequential, or special loss, or for loss of profits, revenue, business opportunity, or goodwill, whether arising in contract, tort, or otherwise.
Except as expressly provided in these Terms and to the maximum extent permitted by law, ONE Payments hereby disclaim all warranties of any kind, express, implied, statutory or otherwise, including but not limited to warranties of merchantability, fitness for a particular purpose, and non-infringement. ONE Payments does not warrant that the Services will be uninterrupted, timely, secure, error-free, or free from viruses or other harmful components. Nothing in this Terms shall exclude or limit ONE Payments’ liability arising from its willful misconduct, gross negligence, or fraud. For the avoidance of doubt, ONE Payments shall not be liable for service interruptions, delays, or errors arising from its Partner Financial Institutions, relevant counterparties and/or third-party networks.
22.1. Notices under these Terms are given in writing and sent to the address or email address most recently notified by the Receiving Party, and are deemed received by either:
a. if delivered by hand, at the time of delivery;
b. if sent by email, on the next business day after sending, unless a delivery failure notification is received; or
c. if sent by post, three (3) business days after posting.
22.2. You are responsible for ensuring that Your contact information maintained with ONE Payments is accurate and up to date.
22.3. ONE Payments may from time to time designate other acceptable modes of giving notices (including but not limited to push notifications, SMS notifications or other forms of electronic communication) and the time or event by which such notice is deemed to be given.
22.4. ONE Payments may make changes to the Services without prior notice if such changes:
a. is required by Applicable Law or Regulator instruction; or
b. is required to enhance or add functionality to the Services and do not materially affect the existing terms of this Terms or the Services. You will be notified of any changes and such changes shall be effective upon notification and You shall be deemed to have agreed to the changes through Your continued use of the Services.
23.1. ONE Payments may assign, novate, or subcontract its rights and obligations under these Terms to an affiliate or, in connection with a merger, acquisition, or sale of substantially all of its relevant business, to a successor entity, provided that entity assumes ONE Payments’ obligations under these Terms. In addition, ONE Payments may assign or transfer any of its rights under these Terms and may delegate or subcontract the performance of any obligation (e.g. payment processing or payment channel functions) under these Terms.
23.2. You must not assign, novate, or transfer Your rights or obligations under these Terms without ONE Payments’ prior written consent, not to be unreasonably withheld, save as required to give effect to a court order.
24.1. These Terms are governed by and construed in accordance with the law of Singapore and Parties agree to submit to the exclusive jurisdiction of Singapore.
24.2. If any dispute, controversy, interpretation, breach, termination, validity or claim (“dispute”) arises out of or relating to these Terms, the Parties to the dispute must use their best efforts to resolve such dispute through friendly negotiations or mediation.
24.3. If such dispute is not settled within thirty (30) days after the date of the relevant notice, the dispute must be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“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 (1) arbitrator to be appointed by the President of the SIAC. The language of the arbitration shall be English.
25.1. If any provision, term or condition of this Terms or part thereof is unenforceable by any legislation to which it is subject to, it shall be rendered unenforceable to that extent and it shall not affect or prejudice the enforceability of the remainder of such provision or the other provisions of this Terms.
25.2. No failure or delay to enforce ONE Payments’ rights under this Terms shall be deemed to be a waiver of such rights or operate so as to impede the exercise or enforcement at any subsequent time.
25.3. Schedules, product agreements and amendments may be incorporated by specific reference to this Terms. This Terms will prevail if there is any inconsistency unless expressly stated otherwise.
25.4. Save as expressly provided, a party who is not a party to this Terms have no rights under the Contracts (Right of Third Parties) Act 2001 of Singapore.
25.5. These Terms, together with any MSA, Pricing Schedule, or any other form of documentation, constitutes the entire agreement between the Partners in relation to their subject matter and supersede all prior agreements and understandings.
25.6. Any ambiguity in these Terms will not be construed against the Party that drafted it.
Last updated: 18th August 2026