Trading Name: Tipr Tech Ltd
Name
Tipr Tech Ltd.
Legal Status:
DIFC Company
DFSA Reference Number:
F007819
Address
Unit 208, 209, Level 1, Gate Avenue South Zone, DIFC, PO box 97764 Dubai, UAE
Telephone Number
Date of Licence
25-Dec-2023
Endorsements
Carrying on authorised Financial Services with or for Retail Clients
Financial Service
Investments
Providing Money Services
Issuing Payment Instruments
Advising or Arranging on Money Services
Making arrangements for another Person to receive Money Services
Conditions
1. The Licensee must disclose prominently on its website and Platform, in any written communication that it provides to a Client or potential Client, and in any form of electronic media that it makes accessible to a Client or potential Client, that:
(a) its Licence is a restricted “Innovation Testing Licence'' and it is restricted under the Licence to testing its Services; and
(b) due to the restricted nature of its Licence, normal requirements and Client protections may not apply and Clients may have limited rights if they suffer loss as a result of taking part in testing of its Services.
Test Plan
2. The Licensee must ensure that it complies with its programme for testing its Services as set out in its Test Plan.
Exit Strategy
3. No later than one month after the end of the Testing Period, the Licensee must submit to the DFSA either:
(a) a duly completed application to remove the restrictions on its Licence, that includes all information necessary to demonstrate to the DFSA that it can meet the requirements to hold an unrestricted Licence; or
(b) a request in writing to withdraw its Licence.
4. In the event the Licensee submits an application to the DFSA to remove the restrictions on its Licence and the DFSA rejects that application, the Licensee must no later than one month after it is notified by the DFSA of the rejection, submit a request in writing to the DFSA to withdraw its Licence.
Restrictions
5. The Licensee is restricted to providing the following Money Services:
(a) Issuing payment instruments
6. The Licensee is restricted to providing the following services of Arranging or Advising on Money Services:
(a) Making arrangements for another Person to receive Money Services;
Activities restricted to testing of Service
7. The Licensee must not carry on a Financial Service under the Licence except for the purpose of testing its Services.
8. The Licensee may test its Services only during the Testing Period.
Restrictions relating to Clients that may take part in testing
9. The Licensee must ensure that it conducts testing of its Services with no more than:
(a) 100 Clients in total during Phase One;
(b) 1000 Clients in total during Phase Two (with that total including any Clients from Phase One); and
(c) 3500 Clients in total during Phase Three (with that total including any Clients from Phases One and Two).
10. The Licensee must ensure that it conducts testing of its Services only with Clients who are residents of the UAE.
Restrictions relating to value of transactions
11. The Licensee must ensure that the maximum individual payment transaction does not exceed AED 100.
For better web experience, please use the website in portrait mode
