iCash (iPoints) Loyalty & Rewards Programme Policy

1. Programme Overview

1.1. These Terms and Conditions govern participation in the iCash iPoints Programme (the “Programme”).

1.2. The Programme is a promotional loyalty programme operated by iCash Pvt. Ltd. (“iCash”, “Company”, “we”, “us”, or “our”) for eligible iCash customers.

1.3. Under the Programme, eligible customers may earn iPoints for qualifying transactions or activities and may redeem available iPoints for rewards, discounts, vouchers, merchant benefits, or other permitted benefits displayed by iCash from time to time.

1.4. iPoints are promotional loyalty points only. They are not:

• Nepalese currency

• Electronic money

• Wallet balance

• A deposit

• A payment instrument

• A stored-value facility

• A security, investment, financial product, or virtual asset

• Transferable money

• A right to receive cash from iCash

• A guarantee of any particular reward

1.5. Participation in the Programme is voluntary. A customer may continue to use eligible iCash payment services without participating in the Programme, subject to the applicable terms of those services.

2. Definitions

For these Terms:

“Account” means the customer’s valid iCash account.

“Eligible Customer” means a customer who has a valid iCash account, has completed applicable KYC requirements, is not restricted or suspended, and satisfies the eligibility criteria notified by iCash.

“Eligible Transaction” means a transaction expressly identified by iCash as qualifying for iPoints.

“iPoints” means non-cash promotional loyalty points credited under the Programme.

“Qualifying Spend” means the eligible Nepalese-rupee amount used to calculate iPoints, after excluding refunds, reversals, discounts, fees, taxes, disputed amounts, and excluded transactions.

“Reward” means a discount, voucher, merchant benefit, product, service, promotional benefit, or other redemption option made available by iCash.

“Redemption” means the use of iPoints for an available Reward.

“Validity Period” means the period during which iPoints remain available for redemption.

“Applicable Law” means the laws, regulations, directives, circulars, guidelines, orders, licensing conditions, and instructions applicable in Nepal, including requirements issued by Nepal Rastra Bank (NRB).

3. Eligibility

3.1. The Programme is available only to Eligible Customers.

3.2. To participate, the customer must:

• Maintain an active iCash Account

• Complete applicable customer identification and KYC requirements

• Provide accurate and current information

• Comply with the iCash account terms, privacy policy, transaction rules, and Applicable Law

• Accept these Terms through the iCash application or another approved channel

3.3. iCash may restrict eligibility for particular campaigns, merchant offers, customer categories, transaction types, or geographic areas.

3.4. iCash may refuse, suspend, or withdraw Programme participation where required by law, regulatory direction, fraud controls, Anti-Money Laundering / Countering the Financing of Terrorism (AML/CFT) requirements, sanctions controls, or risk-management procedures.

4. Earning iPoints

4.1. Unless otherwise stated in a campaign-specific offer, an Eligible Customer earns 1 iPoint for every NPR 100 of Qualifying Spend.

4.2. The standard earning formula is:

iPoints earned = ⌊ Qualifying Spend in NPR ÷ 100 ⌋ (rounded down to the nearest whole point)

4.3. Examples:

4.4. Unless a specific campaign states otherwise, only completed and successfully settled Eligible Transactions qualify for iPoints.

4.5. iPoints may be credited instantly or within a reasonable period after transaction verification, reconciliation, settlement, fraud screening, and system processing.

4.6. iCash may apply daily, monthly, campaign-based, account-based, merchant-based, or transaction-based earning limits. Any applicable limit will be displayed in the iCash application or campaign terms.

4.7. iCash may offer bonus iPoints under specific campaigns. Bonus points may have separate eligibility conditions, caps, expiry dates, and redemption rules.

4.8. iPoints are calculated using the final eligible transaction amount in Nepalese Rupees. Foreign-currency transactions, if any, do not qualify unless expressly approved and published by iCash in accordance with Applicable Law and regulatory approval.

5. Excluded Transactions

Unless expressly included by iCash, the following do not earn iPoints:

• Wallet loading or topping up

• Cash withdrawal or cash-out

• Person-to-person (P2P) transfers

• Bank transfers

• Fund transfers between iCash accounts

• Refunds, reversals, chargebacks, cancelled transactions, or failed transactions

• Transactions later determined to be unauthorised, fraudulent, suspicious, or unlawful

• Payment of government fees, taxes, regulatory charges, penalties, or similar amounts

• Transactions involving financial institutions or payment service providers, unless specifically approved

• Transactions made solely to generate iPoints

• Transactions prohibited by campaign rules

• Transactions that violate iCash terms or Applicable Law

• Any transaction category excluded in the iCash application or campaign disclosure

iCash maintains a clearly visible list of excluded transaction categories in the application and updates it whenever earning logic changes.

6. Reversal, Adjustment, and Correction of Points

6.1. If an Eligible Transaction is refunded, cancelled, reversed, charged back, disputed, or determined to be ineligible, iCash may reverse the related iPoints.

6.2. If a customer has already redeemed reversed iPoints, iCash may:

• Deduct the equivalent points from the customer’s available balance

• Suspend further redemption

• Cancel the affected Reward

• Recover the value of the benefit only where permitted by law and after providing reasonable notice

6.3. iCash may correct clerical, technical, calculation, reconciliation, or system errors.

6.4. A customer should report an apparent points error within 30 days of the relevant transaction or account statement. iCash will investigate and correct genuine errors after reviewing transaction records.

7. Nature and Value of iPoints

7.1. iPoints have no cash value.

7.2. iPoints cannot be:

• Exchanged for cash

• Transferred to a bank account

• Credited to the iCash wallet balance

• Used to purchase electronic money

• Used to make a payment outside an approved redemption flow

• Sold, exchanged, pledged, or used as collateral

• Transferred to another customer

• Combined with another customer’s points

7.3. iPoints do not constitute customer funds held by iCash and do not earn interest, dividends, returns, or other financial benefits.

7.4. The display of iPoints in the iCash application does not create a deposit, claim for cash, or promise that a particular Reward will always be available.

8. Redemption of iPoints

8.1. Eligible Customers may redeem available iPoints through the iCash application or another channel designated by iCash.

8.2. Each Reward is subject to the conditions displayed at the time of redemption, including:

• Number of iPoints required

• Minimum points requirement

• Reward availability

• Validity period

• Participating merchant or service provider

• Redemption location or channel

• Delivery method

• Applicable taxes, fees, or charges

• Cancellation and refund rules

• Customer eligibility conditions

8.3. Redemption is subject to availability and may be limited by inventory, merchant capacity, campaign budget, geographic location, customer category, or regulatory restrictions.

8.4. Once a customer confirms a Redemption, the required iPoints will be deducted immediately.

8.5. Unless specific Reward terms state otherwise, redeemed iPoints cannot be reinstated or refunded.

8.6. A Reward provided by a third-party merchant is subject to that merchant’s additional terms. iCash will disclose the merchant’s identity and relevant terms where reasonably practicable.

8.7. iCash does not guarantee that a Reward will be available at all times or that a particular Reward will be replaced with an identical Reward if unavailable.

8.8. Where a Reward is defective, unavailable, incorrectly delivered, or not provided by a third-party merchant, the customer should contact iCash within 15 days. iCash will investigate and provide an appropriate remedy in accordance with the Reward terms and Applicable Law.

9. Expiry and Lapse of iPoints

9.1. Each iPoint remains valid for 12 months from the date of credit, unless a different validity period is clearly displayed during a specific promotional campaign.

9.2. iPoints expire automatically at the end of the applicable Validity Period.

9.3. iCash will provide reasonable advance notice of approaching expiry through the application, email, SMS, push notification, or another appropriate channel.

9.4. Expired iPoints cannot be reinstated unless the expiry resulted from a system error, unauthorised action, or another circumstance for which iCash is responsible.

9.5. iPoints lapse automatically if:

• The customer closes the iCash Account

• The account is permanently terminated for a breach of terms

• The customer is disqualified under Applicable Law

• Points were obtained through fraud, abuse, manipulation, or unauthorised activity

• The Programme is lawfully terminated

• NRB or another competent authority requires suspension or cancellation

9.6. If an account is temporarily suspended for investigation, iCash may temporarily suspend related iPoints until investigation completion.

10. Fraud, Abuse, and Prohibited Conduct

10.1. Customers must not:

• Create or control multiple accounts to obtain additional iPoints

• Use bots, scripts, automation, technical exploits, or unauthorised devices

• Conduct sham, circular, self-funded, or collusive transactions

• Manipulate merchants, transaction values, refunds, reversals, or promotional codes

• Use stolen, compromised, or unauthorised payment credentials

• Redeem points obtained through error, fraud, or unlawful conduct

• Sell or broker Rewards without approval

• Attempt to convert iPoints into cash or electronic money

• Engage in conduct that causes financial, operational, legal, reputational, or regulatory risk to iCash

10.2. iCash may suspend points, restrict redemption, reverse points, block an account, cancel a Reward, or take other lawful action where it reasonably suspects fraud, abuse, money laundering, terrorist financing, sanctions evasion, unlawful activity, or a breach of these Terms.

10.3. iCash may delay disclosure of investigative details where disclosure could obstruct fraud detection, AML/CFT controls, law enforcement cooperation, or regulatory obligations.

10.4. Actions taken under this section will be proportionate, documented, reviewable, and consistent with Applicable Law.

11. Privacy and Use of Information

11.1. iCash collects and processes information necessary to administer the Programme, including:

• Customer identification and KYC information

• Account and transaction information

• Points balances and redemption history

• Device, security, and fraud-risk information

• Merchant and campaign information

• Customer support and complaint records

11.2. iCash uses this information to:

• Calculate and credit iPoints

• Process Redemptions

• Prevent fraud and abuse

• Meet AML/CFT, sanctions, audit, reporting, and regulatory obligations

• Resolve disputes and complaints

• Improve the Programme

• Provide customer communications and permitted offers

11.3. iCash may disclose relevant information to merchants, service providers, technology providers, auditors, group entities, professional advisers, regulators, law enforcement agencies, and other persons where permitted or required by law.

11.4. iCash limits data sharing to information reasonably necessary for stated purposes under confidentiality and security controls.

11.5. The Programme is subject to the iCash Privacy and Data Protection Policy.

12. Fees, Taxes, and Charges

12.1. iCash discloses any fee, charge, tax, delivery charge, merchant charge, or other cost applicable to a Reward before the customer confirms redemption.

12.2. iCash will not deduct fees from the customer’s wallet balance or iPoints balance unless clearly disclosed and permitted under applicable product terms and NRB regulatory requirements.

12.3. The customer is responsible for personal tax obligations arising from a Reward under Nepalese law.

13. Changes to the Programme

13.1. iCash may change the earning rate, eligible transactions, earning limits, Rewards, validity period, redemption threshold, or other Programme terms for legitimate business, operational, merchant, risk-management, legal, or regulatory reasons.

13.2. iCash will provide reasonable advance notice of material changes through the application, website, email, SMS, push notification, or another appropriate channel.

13.3. Changes will not retrospectively invalidate a completed Redemption or remove points already earned, except where necessary to correct an error, prevent fraud, comply with law, or implement an NRB regulatory direction.

13.4. If a material change materially disadvantages customers, iCash will provide a reasonable opportunity to redeem available points before the change takes effect, unless prohibited or impracticable due to law, fraud, security, or regulatory requirements.

13.5. iCash may suspend or terminate the Programme where required by NRB, another competent authority, Applicable Law, serious security concerns, or circumstances beyond iCash’s reasonable control.

14. Complaints and Dispute Handling

14.1. Customers may raise Programme complaints through:

14.2. A complaint should include the customer’s registered mobile number, transaction reference, date, amount, points balance, and supporting documents.

14.3. iCash will acknowledge a complaint within 2 working days and aim to provide a full resolution response within 7 working days, subject to the complexity of the matter.

14.4. Where additional investigation is required, iCash will inform the customer of the expected timeline.

14.5. Customers may escalate unresolved payment-related complaints through Nepal Rastra Bank’s Grievance Management System (gunaso.nrb.org.np), after completing iCash’s internal complaint process, consistent with iCash’s broader Grievance Handling Policy.

15. Limitation of Liability

15.1. iCash is responsible for direct loss caused by its fraud, wilful misconduct, gross negligence, failure to protect customer funds where applicable, or breach of mandatory legal obligations.

15.2. iCash is not responsible for loss caused by:

• A customer’s breach of these Terms

• Inaccurate customer information

• Unauthorised access resulting from the customer’s failure to protect credentials

• Merchant failure, except to the extent required by law

• Internet, telecommunications, device, or third-party service failure

• Events beyond iCash’s reasonable control

• An unlawful, fraudulent, or abusive transaction

15.3. Liability is assessed according to the facts, Applicable Law, security controls, and the respective responsibilities of iCash, the customer, or third-party merchants.

16. Account Closure

16.1. If a customer closes an iCash Account, unused iPoints lapse automatically.

16.2. Customers are advised to redeem eligible iPoints prior to initiating account closure.

16.3. Closing an account does not release liabilities arising from fraud, unlawful conduct, unauthorised transactions, or outstanding complaints.

17. Governing Law

17.1. These Terms are governed by the laws of Nepal.

17.2. Any dispute will be handled through iCash’s complaint process and, where unresolved, by competent courts or regulators of Nepal.

17.3. These Terms are subject to applicable NRB directives, licensing conditions, payment system rules, AML/CFT requirements, and consumer protection laws of Nepal.

18. Acceptance

By enrolling in or using the iCash iPoints Programme, the customer confirms that they:

• Have read and understood these Terms

• Agree to the earning, redemption, expiry, suspension, and privacy provisions

• Understand that iPoints are not cash or electronic money

• Agree that iPoints cannot be converted into wallet balance or cash

• Consent to the processing of relevant information for Programme administration, fraud prevention, customer support, and regulatory compliance