The Sky Cashback App is operated by Sama for Investments, a trading company only. Its business is selling goods and electronic marketing: it owns the vouchers it offers and sells them to users as products at a fixed price, and those vouchers are used by App users to be redeemed against goods and services provided by the partner merchant network, the voucher being a marketing instrument and a product of the Company.
Every voucher — whether purchased by the user or granted as cashback — is a product the Company owns and sells or grants. It is goods, not money, not a financial instrument, not electronic money or stored value, and an App user cannot exchange it for cash or transfer it to bank accounts, remittance or exchange companies or the like; it is designated solely for redemption against the goods or services of partner merchants exclusively.
When you buy a voucher you are buying goods owned by the Company and paying for them in advance. When you redeem it at the partner merchants you receive the goods or service you paid for, supplied to you through the partner merchant under a contract, and the amount you pay is the sale price of goods/a service, collected by the Company from the App user for its own account as the seller. Accordingly, the amount collected is not a deposit, is not held on your behalf, and is not placed in its custody for your benefit.
The Company does not carry out any financial or banking activity, and does not hold itself out as doing so. In particular, the Company:
- does not accept deposits, and does not open or operate accounts of any kind for users;
- does not issue electronic money, stored value, or any payment instrument;
- does not provide transfer, remittance, or money transmission services;
- does not hold, safeguard, or take custody of users' funds;
- does not carry out currency exchange, brokerage, investment, or securities activities;
- does not deal in virtual assets or cryptocurrencies in any form.
Accordingly, the Company does not intend to carry out any of the foregoing activities or anything related to them; rather it provides the Sky Cashback App as an electronic marketing application for discounts, and not a financial technology (fintech) service, an electronic wallet, a payment service, or a banking service, and it may not be used or presented as such.
Voucher payments are collected through the payment methods available in the App (duly licensed) or through points of sale, which are outlets approved by the Company to sell the vouchers the Company owns, the point of sale being a sales agent for the Company's vouchers.
The vouchers value and cashback value shown in the user's app represent the value of goods the user is entitled to obtain from partner merchants at any time they wish. They are not a cash balance and not an account held for the user with the Company.

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