Payment Agreement

Effective Date:

1. Purpose and Status of the Agreement

This Payment Agreement (hereinafter referred to as “this Agreement”) is an integral and supplementary agreement to the Terms of Use (hereinafter referred to as the “Master Agreement”). This Agreement aims to clarify the specific rules governing your payments, recharges, subscriptions, and fund transactions on PowerTokens.

Matters relating to payment, refund, and transactions shall be subject to the provisions of this Agreement. Matters not stipulated in this Agreement shall continue to be governed by the Master Agreement (including the provisions on the governing law of Singapore in the Master Agreement).

In the event of any conflict between this Agreement and the Master Agreement regarding payment matters, this Agreement shall prevail.

2. Payment Processing Entity

PowerTokens’s payment processing, including the payment gateway, transaction processing, and fund settlement, is actually handled by a payment service provider in Hong Kong (hereinafter referred to as the “Hong Kong Payment Processor”). You understand and agree that all payments you initiate on PowerTokens, including the purchase of memberships, Tokens, and subscriptions, will be processed by the Hong Kong Payment Processor.

3. Payment Rules and User Obligations

3.1

Payment Account Security: You must use payment instruments that you legally own and hold. Any losses or unauthorized deductions arising from your improper safekeeping of your payment account or payment instruments shall be borne by you.

3.2

Fees and Taxes: The prices displayed on the Platform are the base prices for the services and do not include cross-border transaction fees, foreign exchange conversion fees charged by your local banks or payment institutions, or local taxes (such as VAT, GST, VAT, etc.). If required by local laws, you authorize the Platform to collect and remit such taxes on your behalf. All additional fees arising from exchange rate fluctuations or third-party institutions shall be borne by you.

3.3

Automatic Renewal (if applicable): If you choose to enable the automatic renewal/subscription service, you authorize the Platform and the Hong Kong Payment Processor to automatically deduct the corresponding fees from your linked payment method at the end of each billing cycle. You may cancel the automatic renewal at any time in your account settings; however, the cancellation must be completed before the end of the current billing cycle. Fees already charged are non-refundable.

4. Refunds and Dispute Resolution

4.1

Refund Policy: Except for explicit written commitments by PowerTokens, mandatory legal provisions, or refund policies publicly announced by the Platform, all completed purchases of digital goods and services (including but not limited to Tokens, membership qualifications, virtual benefits, and any content or services generated or consumed through the use of Tokens, etc.) are final upon purchase and are in principle non-refundable.

4.2

Malicious Chargeback: If you have any objection to a bill, you should first contact the Platform’s customer service for negotiation. If you directly initiate a chargeback, cancellation, or similar request with your card-issuing bank or payment institution without first negotiating with the Platform, and this causes losses to the Platform (including but not limited to payment channel penalties, attorney fees, administrative costs, etc.), the Platform has the right to immediately restrict, suspend, or terminate your account and reserves the right to recover all losses from you.

5. Data Transmission and Privacy Protection

To complete payment processing, transaction verification, and to fulfill statutory obligations such as anti-money laundering (AML), you agree and authorize PowerTokens to transmit necessary payment information (including but not limited to name, payment account number, transaction amount, IP address, etc.) across borders to the Hong Kong Payment Processor and relevant financial institutions. Such data processing will comply with PowerTokens’s Privacy Policy and the requirements of Hong Kong’s Personal Data (Privacy) Ordinance.

6. Governing Law and Arbitration

6.1

Governing Law: All matters relating to payments under this Agreement shall be governed by and construed in accordance with the laws of the Hong Kong Special Administrative Region.

6.2

Arbitration: Any dispute, controversy, or claim arising out of or in connection with this Agreement or payment transactions shall be submitted to the Hong Kong International Arbitration Centre (HKIAC) for arbitration in accordance with the HKIAC Arbitration Rules in effect at the time of submission. The seat of arbitration shall be Hong Kong, and the arbitration language shall be English. The arbitral award shall be final and binding on both parties.

7. Amendment and Notification of the Agreement

PowerTokens reserves the right to amend or update this Agreement from time to time in accordance with applicable laws and regulations, regulatory requirements, payment partner requirements, or its own business adjustments. The amended agreement and its effective date will be announced or notified through reasonable means such as platform announcements, system notifications, email, or in-app pop-ups. Unless otherwise specified, the amended agreement shall become effective 7 days after the announcement (or 30 days in the case of material changes involving core user rights and interests). If you do not agree to the amended agreement, you shall immediately stop using the payment services provided by the Platform and have the right to terminate this Agreement by cancelling your account or contacting customer service. Your continued use of the payment services after the amended agreement takes effect shall be deemed as your full knowledge, understanding, and voluntary acceptance of the revised Agreement.

8. Miscellaneous

8.1

If any provision of this Agreement is held to be invalid, the validity of the remaining provisions shall not be affected.

8.2

After the termination of this Agreement, the rights and obligations related to payments (including but not limited to dispute resolution, liability limitations, etc.) shall remain in full force and effect.

8.3

Language: This Agreement is written in English and may be translated into other languages. In the event of any discrepancy or conflict between the English version and any translated version, the English version shall prevail.

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