MAAYAN PAYMENTS LTD.
TERMS AND CONDITIONS
Version 4.0
Effective as of 02.01.2024
These M-PAY Terms and Conditions (the “Terms and Conditions”) govern the legal relationship
between You as an individual or legal entity (“Customer”, “User“, “You“ or “Your”) and MAAYAN
PAYMENTS LTD, a company incorporated under the laws of England (registered number: 12552087),
having its registered office at Unit 13 Bourne Court, Suite 2, Southend Road, Woodford Green,
United Kingdom, IG8 8HD, each individually are referred to herein as a “Party,” and collectively
are referred to herein as the “Parties”.
We call ourselves “M-PAY” in these Terms and Conditions for short or “We”, “Our” and “Us”.
Maayan Payments Ltd is an Electronic Money Institution authorised and regulated by the Financial
Conduct Authority (FCA) (FCA is a financial regulatory body in the United Kingdom that focuses
on the regulation of financial services firms,
https://www.fca.org.uk/).
FCA reference number of MAAYAN PAYMENTS LTD: 927556
Write to us |
MAAYAN PAYMENTS LTD |
Email us |
[email protected] |
Call us |
+44 2037692770 |
Via |
Remote System |
Before entering into a business relationship with M-Pay, Customers shall confirm that they
have read the Terms and Conditions in their entirety, agree and accept them.
The use of this webpage is subject to the following Terms of Service and to the conditions
of our Privacy Policy.
We may occasionally update our policies and it is Your responsibility to check for the
updates.
Definitions
Unless expressly stated otherwise, the following terms shall have the following meaning:
Account
An account opened for You with Us in Our Remote System where Your funds are recorded.
The electronic money issued into a Customer Account(s) is issued in accordance with the UK Electronic Money Regulations 2011. The electronic money in a Customer Account belongs to the Customer as the Account holder. No other person or entity has any rights over the electronic money in a Customer Account and the Customer may not assign or transfer its Account to a third party or otherwise grant a third party any rights over the electronic money in the Account.
Authenticator
Codes, passwords and other identifiers or actions, creation or use of which is possible via Mobile app "M-PAY" and which We use for Your authentication and/or for confirmation of the Payment orders initiated in the Remote System.
Business Day
A day within Our working hours, which is not Saturday, Sunday, or holiday in the United Kingdom (“UK”). Our working hours are from 9am to 5pm UK time.
Customer
A natural (a private individual) or legal person (a legal entity) who uses, has used or has expressed his, her or its wish to use the Services of M-PAY.
Customer Credentials
The username and the password chosen by the Customer or other credentials granted for the Customer by Us or a third person.
Non-Face-to-face identification (non-F2F)
Identification of persons and verification of persons’ identity with information technology means.
Mobile app "M-PAY"
Is our mobile application (available for download on Google Play and AppStore) which is suitable only for Android or iOS, are connected to Your mobile device and is used for creation or use an Authenticator.
Payment
An action initiated by You for making a money transfer or withdrawing money
Payment Instrument
A personalised device (e.g. PC, mobile device with M-PAY application, payment card) or a set of procedures used by the Customer for the use of Electronic Channels and Us. the performance of operations in accordance with the Terms and Conditions and information published on M-PAY webpage.
Personal data
Any information relating to an identified or identifiable natural person directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier, etc.
Payment orders
Your instruction to Us to execute a Payment.
Price List
Standard Fees or Unique Fees, depending on which of them is applied to the Agreement between You and Us.
Remote System
remote access system provided by Us to You, which, subject to the Terms and Conditions, enable You to use Our services and communicate with Us remotely.
Services
A service rendered by Us to a Customer (incl. any payment service, Payment Account and Payment instrument) and/or a service provided through M-PAY by a third party.
Service Agreement
Means an agreement governing any specific Service offered to Customer
Standard Fees
Our standard Price list, which is published on Website and contains fees and charges payable by You for the services provided by Us.
Third Party Services
Third party services made available to Customer through the Remote System.
Unique Fees
Our unique (tailor-made) Price list, developed individually for You, which contains fees and charges payable by You for the services provided by Us.
Ultimate Beneficial Owner
Refers to the individual or entity that ultimately owns or controls the party entering into the Terms and Conditions
Website
Our website www.m-pay.me
M-PAY’s main Services are as follows:
SERVICE 1 |
DESCRIPTION |
Personal Account |
- Personal Account is a multi-currency account with IBAN.
- To open a Personal Account the Customer must be 18 years or
older.
|
Business Account |
- Business Account is a multi-currency account with IBAN.
|
Execution of Payments
|
- Various sending and receiving options at various transfer speed
are available.
|
Currency exchange
|
- Exchange of various currencies.
|
Acquiring services
|
- Offered in line with separate agreement that must be entered
between You and Us.
|
Payment Initiation Service
(in partnerships with a third-party)
|
- M-PAY is partnered with Volt.io, webpage: Volt: Real-time
payments, everywhere, provider of Payment initiation service.
-
When using a Payment Initiation Service, Customer give consent for a third-party Payment Initiation Service Provider (Volt) to make a connection to their bank account and subsequently initiate a payment on their behalf.
In this instance, the relevant third-party provider’s terms will also be applicable and will appear in the User flow prior to the payment checkout page. The relevant third-party provider’s terms are available at: https://www.volt.io/legal/user-terms/
|
We may also provide auxiliary services to the mentioned above, provided that these additional Services are technically available and allowed by law.
M-PAY is an Electronic Money Institution and, therefore, funds on the Customer’s payment account shall not be deemed to be a deposit or other repayable funds or e-money. Funds on the Customer’s payment account may be used only for the execution of payment transactions.
The UK deposit guarantee scheme does not apply to the Accounts opened with Us. However, We will ensure that Our customers’ funds are kept in a segregated bank account opened for the benefit of Our customers and it will not be used to keep Our own funds or other parties which are not considered to be Our Customers.
1 Please note: In accordance with our policies We do not open Accounts and do not process transactions for companies, citizens and residents of, as well as people staying in, countries where transactions are prohibited by international sanctions or their internal law regulations, or countries which based on various criteria selected by our AML team (for example Corruption Perceptions Index by Transparency International, FATF warnings, countries with weak anti-money laundering and terrorist financing regimes determined by European Commission or United Kingdom) impose high AML / CTF risk.
- 2.12.1. In addition to M-PAY, third parties are also providing the Customer with their services through M-PAY’s Remote System. M-PAY does not bear any liability for the services of third parties. M-PAY does not act as a broker or intermediary for any services provided by third parties; it merely provides third parties with an opportunity to provide their services via the electronic platform developed and managed by M-PAY. Third Parties Services may be governed by their own terms and conditions which supplement these Terms and Conditions and which the Customer accepts in connection with the subscription of the respective service. Some third-party services will require the Customer to enter into a direct agreement with the third party, in which case the Customer’s rights and obligations in respect of the third-party service are solely specified in such agreements. In case of any conflict between the supplementary terms or third-party terms and conditions and these Terms and Conditions, third-party terms and conditions on supplementary services shall prevail.
- 2.22.2. Under no circumstances will M-PAY be liable to the Customer or anyone else for any decision made or action taken in reliance on the information from the third-party services.
- 2.32.3. M-PAY grants You rights to use M-PAY Services in accordance with the provisions of this Terms and Conditions.
- 3.1We will provide You with Our Services remotely
via Remote System.
- 3.2To use Our Remote System, You must meet and
comply with the following minimum system requirements:
- Processor: Intel Core i3 or better
- Memory: 2 GB RAM 4.13.2.
- Operating system: Windows 7 / Linux up to date
distro / OSX
- Browser: Firefox / Chrome / Edge 4.13.3.
- Operating system for mobile devices: iOS 12 or
higher / Android 8.0 or higher.
- 3.3 We will identify You through two-factor authentication for accessing the Remote System with a Login (Your e-mail specified during registration), unique password created by You and one-time password generated in the Mobile app "M-PAY" (the “Customer Credentials”).
- 3.4 You shall keep confidential Your Customer
Credentials for the Remote System.
- 3.5 Your Customer Credentials are confidential, and
You shall not disclose them and shall keep protected against third party
access; shall keep them safe.
- 3.6If Your Customer Credentials is disclosed or
could have been disclosed to a third party, You shall immediately notify Us
in writing or by telephone and We will block access to Our remote services
without undue delay until the new Customer Credentials is supplied.
- 3.7Access to the Remote System will be blocked if
You will erroneously enter Your Customer security Credentials five times in
a row.
- 3.8We have the right, but not the obligation to
completely or partially block Your access to Remote Services if We believe
that Your Customer security Credentials was released or could have been
released to a third party or illegal actions have taken place, to ensure
safety, integrity and confidentiality of services, You and / or other Users,
or to prevent possible losses to Us or You, as well as to execute decrees
and orders of government bodies and/ or officials that are subject to
mandatory enforcement according to the respective law. In case We completely
or partially block Your access to Remote Services to prevent possible losses
to You, we will notify you as soon as practically possible via your email.
- 3.9From time to time, the parties (You and Us) will
send each other documents / notifications / requests / applications via
Remote System and the parties (You and Us) agree that all these documents
are considered sent and received by the parties at the moment of respective
transmission if they are sent at Business Day or the next day if they are
sent during non-Business Day. We will consider any documents / notifications
/ requests / applications received via Remote System with Your Customer
Credentials, as sent by You.
- 3.10You agree that the main and official
communication channel for receiving any types of documents / notifications /
requests / applications is the messaging system in the Remote System and all
documents / notifications / requests / applications and information
reflected in the Remote System will be considered binding for You, and that
such information is equivalent to the information issued by Us as a written
document, statement or acknowledgement.
- 3.11Cases, when We limit access to the Remote
System temporarily, but not longer than for 24 (twenty four) hours, due to
the Remote System repair, development works and other similar cases, and if
We have informed You about such cases at least 2 (two) Business Days in
advance, shall not be considered the Remote System operation disorders.
- 4.1All funds in your Account are legally termed as
electronic money.
- 4.2We must on receipt of funds, issue without delay
electronic money at par value and at Your as an electronic money holder
request of, redeem at any time and at par value the monetary value of the
electronic money held.
- 4.3We must not award interest in respect of the
holding of electronic money or any other benefit related to the length of
time during which an electronic money holder holds electronic money.
- 5.1
If You wish to use Our Services, You must register through Our Website www.m-pay.me and accept these Terms and Conditions by clicking the "I confirm" button. You confirm that all information submitted by You is valid at the time of entering into the Agreement.
- 5.2
When You have registered for Our Services and accepted these Terms and Conditions and Price List, We may perform due diligence and may require You to supply additional documentation for Us to be able to carry out any necessary steps in accordance with applicable laws and regulations as determined by Us in our sole discretion. You shall assist Us in that regard.
- 5.3
If the Customer needs any authorisation from any state institution for opening an Account and/or for performing any operations on M-PAY Account, the Customer obliges to obtain it prior to entering into business relationships with Us.
- 5.4
5.4. Upon establishment of a business relationship, the Customer shall submit to M-PAY an application or register within M-PAY and provide all the information that M-PAY requires (according to the legislation and other laws and acts) in connection with the registration and/or establishment or monitoring of business relationship.
- 5.5
5.5. Upon submission of an application through M-PAY website the Customer is obliged to provide all the information set out by M-PAY including but not limited to scans of original documents for a purpose of relevant verification.
- 5.6
5.6. Upon registering via M-PAY Electronic Channels (non-F2F), the Customer confirms to M-PAY its full legal capacity and the fact that it acts in person. The Customer being natural person confirms that there is no Ultimate Beneficial Owner other than itself.
- 5.7
When giving information, You confirm and
guarantee that all information is complete, accurate and true.
- 5.8
Upon successful registration, You will receive a
confirmation email of the conclusion of the Agreement to Your registered
email address.
- 5.9
The Agreement is concluded for an indefinite
period.
- 5.10
5.10. M-PAY shall have the right to decide with whom to conclude or not to conclude any agreement. Amongst other, We may refuse to conclude a business relationship and/or conclude any agreement with a natural or legal person or to provide Services to a natural or legal person in the following cases:
- 5.10.1
The Customer does not or may not meet the requirements stipulated in the legal acts regulating the prevention of money laundering and terrorist financing;
- 5.10.2
M-PAY suspects that the person
wishes to use the Services for any restricted or prohibited
activities in accordance with Section 11;
- 5.10.3
The Customer has caused or may cause
direct or indirect damage to M-PAY;
- 5.10.4
The Customer is a politically
exposed person;
- 5.10.5
The Customer has been punished for a
financial or economic crime, fraud or another crime with regard to
the abuse of trust;
- 5.10.6
The Customer does not present
information and/or documents required by M-PAY;
- 5.10.7
The Customer presents to M-PAY
incorrect information and/or documents;
- 5.10.8
The Customer does not present
sufficient information and/or documents to confirm legal origin of
the funds;
- 5.10.9
For other good reasons for not
establishing a business relationship or concluding an agreement,
including in case of legal obstruction, such as restricted active
legal capacity, lack of authorisation or ambiguous authorisation;
- 5.10.10
The Customer belongs to a risk
group with regard to which M-PAY set out restrictions on
establishing a business relationship according to its risk appetite.
- 5.11
M-PAY does not have obligation to give a cause
for refusal to establish of a business relationship unless otherwise
provided by law.
- 6.1Upon establishment of a business relationship,
M-PAY is obliged to identify its Customers, Customer`s representatives and
Ultimate Beneficial Owners.
- 6.2The method used by M-PAY for identifying a
Customer is non-F2F online identification.
- 6.3You hereby consent to collaborate with Us in all
events when We or any Third service provider is obligated under relevant
laws to check or verify Your identity and validate financial sources. Such
requests/ applications may include a request to disclose more detailed
information to Us for adequate identification of You or any other related
person, including the verification of Your information in the third party‘s
databases or any other sources. To enable You to use Our Services, We may
request for any additional information. We reserve the right to block,
suspend or limit Your access to Your Account and/or other Services if We
fail to obtain or verify such additional information.
- 6.4The Customer and its representative are
obligated to submit to Us any data and documents requested by Us for
identification. If M-PAY has doubts about the authenticity of the Customer’s
data or documents, We may ask the Customer to specify its data, provide
additional information or documentation, or if necessary, to re-do the
identification process.
- 6.5Upon agreeing with the Terms and Conditions, the
Customer hereby irrevocably authorises M-PAY to request any information and
documents, regardless of its form, related to Customer’s identification and
verification (including, without limitations, a copy of Customer’s documents
and data) from any credit institution or a financial institution who has or
had identified that Customer, or has or had a business relationship with
that Customer. For avoidance of doubt, this authorisation grants M-PAY the
right to request all data and documents on the Customer from any credit or
financial institution whose identification or authentication method was used
in M-PAY’s identification process. Upon the request of M-PAY, the Customer
undertakes to provide M-PAY with additional authorisations or documentation
(incl. a written power of attorney) needed to receive the information or
documentation mentioned above and do everything necessary to provide M-PAY
with all information needed to duly prove its identity.
- 6.6By consenting to the Terms and Conditions, You
agree that We or any authorized third party may carry out such verification.
- 6.7From time to time, We may demand additional
identification to verify the identity of the Customer for security or other
reasons. The Customer undertakes to provide Us with all the information and
documents required to verify that Customer’s identity.
- 6.8M-PAY shall identify a natural person on the
basis of an identity documents in compliance with law and accepted by M-PAY.
- 6.9M-PAY shall identify a legal person on the basis
of relevant and valid registry extract and/or other documents (certificate
of incorporation/registration, articles of association, identity documents
of the Director(s) empowered to make agreements on behalf of the Customer,
etc.) accepted by M-PAY.
- 6.10A person wishing to become a Customer of the
M-PAY remotely shall initially submit the documents and identification
documents (for the Customer, Customer’s Representative, Ultimate Beneficial
Owners) and shall undergo photo identification of the Customer / Customer’s
representative/ Ultimate Beneficial Owner .
- 6.11In cases where the identification document has
expired, the Customer is required to provide the new identification
document.
- 6.12You must notify Us immediately (but not later
than within 3 (three) Business Days) of any changes in the information or
documents submitted to Us.
- 6.13You must notify Us immediately (but not later
than within 1 (one) Business Day), if You are a corporation, where
beneficial ownership of your corporation changes by more than 10%.
- 6.14You understand and are aware that failure to
comply with these rules regarding the accuracy, veracity, validity, and
relevance of the information provided or other material breach of the
Agreement poses a risk of incurring significant financial penalties up to
the suspension of our financial activities - license from financial
regulator due to non-compliance with legal requirements on prevention of
money laundering, financing of terrorism, proliferation, or other illicit
activities. This will affect our reputation and negatively affect business
development.
- 6.15In relation to the prevention of money
laundering or terrorism and proliferation financing, tax frauds or other
illicit activities, We have the right to refuse cooperation with You,
including to refuse/refrain from Payment order execution, if You or a person
related thereto, including its Ultimate Beneficial Owner, is a person:
against whom sanctions and/or restrictions of international organizations or
sanctions and/or restrictions applied to/by specific countries’ or other
international or local sanctions; the Payment order initiated by You or in
favour of You is directly or indirectly related to a person against whom
international or local sanctions have been imposed; We have knowledge or
suspicions that You, Ultimate Beneficial Owner or any person related to You
has performed or attempted to carry out activities aimed at money laundering
or financing of terrorism and proliferation, tax frauds or other illicit
activities; Your activities do not comply with the requirements of the
regulatory enactments regulating the area on prevention of money laundering
or financing of terrorism and proliferation, tax frauds or other illicit
activities.
- 7.1
7.1. M-PAY shall accept documents translated into English. We may request you to provide these documents translated by sworn translator or the translator’s signature shall be notarised.
- 7.2
7.2. M-PAY has the right to request the documents issued abroad to be translated, legalised or confirmed with an Apostille, except where legal acts state otherwise.
- 8.1
A natural person may enter into transactions
personally or through a lawful representative.
- 8.2
A legal person shall enter into transactions via
their lawful or contractual representative. A power of attorney proving the
right of representation prepared outside M-PAY should be notarised.
- 8.3
The Customer can authorise other persons to use
the Services of M-PAY made available to that Customer under the Terms and
Conditions concluded between the Customer and M-PAY. Authorisation offers
the authorised person an access and power to do transactions on behalf of
that Customer and access information related to that Customer’s account.
- 8.4The Customer is liable for any use of the
Services, including for any use of the Services by persons to whom it has
given the authorisation to. If the Customer has authorised a person to use
Services (incl. that Customer’s Payment Account), the authorised person
needs to be registered as a Customer of M-PAY (i.e., the person has a
business relationship with M-PAY). Authorisation can be granted by using the
Remote System.
- 8.5The Customer confirms that before authorising
any other person, it has given the Terms and Conditions and other terms and
conditions applicable to the use of the Services to the persons to whom the
authorisation is to be given for examination, and shall bear liability for
the performance and non-performance of the contractual obligations by the
authorised person.
- 8.6The Customer is obligated to inform Us in
writing or by using Remote System instantly of the termination of
representation or about any changes of right(s) of representation. The
Customer is obligated to inform M-PAY notwithstanding of the fact that such
information is public and could be found in Companies House or any other
registrar of companies with public access. If there are doubts about who is
legally permitted to represent the Customer, We may request the Customer to
provide us with some evidence and/or freeze the Customer’s Account until We
have a clear understanding of who can represent the Customer.
- 9.1
The M-PAY does not provide Services to the
Customers in the following situation:
- 9.1.1
Customer or their Ultimate Beneficial Owners (UBOs) residing or registered in FATF`s High-Risk jurisdictions subject to Call for Action Other countries deemed prohibited as a result of internal country risk assessment;
- 9.1.2
Customer or their UBOs is subject to European Union or United Nations sanctions;
- 9.1.3Customers, a member of its management
body or the beneficiary is a politically exposed person;
- 9.1.4A Customer is a legal entity or other
association of persons without the status of a legal entity that is
engaged in personal asset management or private banking;
- 9.1.5The Customer or its related companies
has bearer shares;
- 9.1.6
The Customer, a member of its management body or the beneficiary has been convicted of money laundering or terrorist offenses, tax evasion or corruption, or the Customer is known to have such suspicion;
- 9.1.7The Customer does not have the
appropriate license or permit required to operate in the chosen
field of activity and / or country;
- 9.1.8The Customer is a shell bank;
- 9.1.9The Customer is a foundation;
- 9.1.10The Customer is an extraterritorial
organization or entity;
- 9.1.11The Customer has the U.S. person
status (person is related to a USA 2); etc.
- 9.2M-PAY shall block the Service on the written
request (unless otherwise agreed) of the Customer and release blocked
Service on the written request (unless otherwise agreed) of the Customer.
- 9.3M-PAY shall block the Services on the request
of a third party only in the cases and pursuant to the procedure provided by
law. M-PAY shall release the Service from blocking on the basis of the
resolution of the competent body, or the respective judicial decision which
has entered into force.
- 9.4M-PAY shall have the right to block the Service
while one more of the following conditions exists:
- 9.4.1on the Account of the Customer there
are funds to perform obligations;
- 9.4.2M-PAY suspects the Customer of money
laundering, terrorist financing or other crime or illegal activity
(e.g. fraud) or Prohibited Activity;
- 9.4.3the Customer has not submitted data
or documents requested by Us in due time;
- 9.4.4M-PAY has become aware of any
circumstances which have caused the necessity to examine the legal
origin of the Customer’s funds or assets;
- 9.4.5M-PAY has become aware that the
Customer who is legal person has been dissolved from the register;
- 9.4.6in the M-PAY’s opinion, freezing of
an account is necessary in order to prevent damage to the Customer,
M-PAY or a third person;
- 9.4.7there is suspicion that the
Customer’s Credentials and/or the Payment Instrument have been used
without the Customer’s consent or these are stolen;
- 9.4.8there is suspicion that the
Customer’s Credentials and/or Payment Instrument have been used
fraudulently;
- 9.4.9M-PAY shall not be held liable for
any damage arising from the blocking of the Customer’s Payment
Account or Payment Instrument.
2 Please note: Person, who is related with the USA, is a
person, who meets one of the specified conditions: 1) Person has USA citizenship
or permanent residence status (Green Card); 2) Person is a tax resident of the
USA; 3) Person’s place of birth is the USA; 4) Person has a phone number with a
USA country code; 5) Personal residence address or correspondence address is in
the USA (including USA P.O. box); 6) Power of attorney has been issued by a
person who is related with the USA.
Transaction limits
We reserve the right to impose at our sole and absolute discretion limits on
M-PAY transactions, based on criteria determined by us which do not have to be
disclosed.
Personal account
- 10.1The Personal Account is only available to
Customers private persons (consumers) and may not be used for any business
or commercial purposes.
- 10.2Certain limits may be placed on your Account
depending on your country of residence, verification checks or other legal
considerations.
- 10.3M-PAY has the right to demand data and/or
documents that would help M-PAY identify the Customer and/or receive
significant information necessary for proper provision of M-PAY Services to
the Customer. Specific data and/or documents to be submitted shall be
indicated in the message to the Customer about the necessity to perform
identification or other verification procedures.
- 10.4M-PAY has the right to establish amount
limitations for certain operations. The Customer has the right to change the
limitations established by Us to the extent and pursuant to the terms and
procedures established by M-PAY..
- 10.5To change the transfer limit, Customer need to
fill in a short questionnaire and, in some cases, upload documents to verify
this information.
- 10.6
You need to verify Your identity. You will have to submit the official full
name, date of birth, country, home address, mark the status of Politically
Exposed person, mark the status of U.S. person, take a picture of your
identification document (passport, ID card UK driving license) and make a
photo identification. To confirm your home address, take a photo of any one
document from the list:
- 10.6.1a utility bill (electricity, gas,
water supply), an insurance policy bill, or a landline phone bill
(we don’t accept mobile phone bills);
- 10.6.2a bank or credit card statement (not
a photo of the card itself);
- 10.6.3a letter from a public authority (for
example, in relation to taxes paid or refunded).
- 10.7In addition to the above, You may be required
to confirm your source of income at any time.
- 10.8M-PAY has the right to demand additional
information and/or documents related to the Customer or transactions
executed by them and has the right to suspend a transaction of the Customer
until the Customer provides additional information and/or documents related
to the suspended transaction. M-PAY also has the right to request the
Customer to fill in and periodically update the Customer 's questionnaire.
If the Customer does not provide additional information and/or documents
within a reasonable time period set by M-PAY, M-PAY has the right to suspend
the provision of all or a part of the Services to the Customer. M-PAY has
the right to demand copies of the documents certified by a notary and/or
translated into at least one of the acceptable languages. All documents and
information are prepared and provided at the expense of the Customer.
- 10.9To manage Our risk, particularly with respect
to money laundering, fraud or security concerns, We also apply internal
controls, including limits, to certain types of payment. We change these as
necessary but for security purposes, we do not disclose them.
- 10.10The Customer is prohibited from having more
than one profile in the Remote system and providing incorrect data when
registering in the Remote system. If the Customer provides incorrect data,
he is obliged to correct it. If, due to inaccurate data, the Customer has
created several profiles, he shall inform M-PAY thereof, so that all created
profiles would be merged into one profile. In case of a breach of this
provision, the Customer may be blocked, transactions invalidated, and the
information transmitted to law enforcement institutions, if necessary.
Business account
- 10.11Depending on the different factors, for
example, country, business profile, transaction volumes, main partners etc.
we have the right to set a limit for the maximum total amount of payment
transactions for Business Account. Limits may be revised and changed over
time.
- 10.12We can change limits by setting them higher or
lower. For example, we may have to lower limits to comply with Applicable
Laws or reduce the risk of financial crime. If we change the Business
Account limits, we’ll notify you of the revised limits for your Business
Account.
- 10.13All incoming payments and withdrawals are
subject to inspection, and We reserve the right to request additional
information on a case-by-case basis.
- 10.14We may ask You for more information about You
or your business and ask you to fill in the questionnaire. If you refuse, we
have the right to apply for lower or higher limits depending on Your
business needs or we might need to shut down your Account.
- 10.15You agree that the reporting and payment of
any applicable taxes in the UK and any other country where this arises is
your responsibility in relation to the use of a M-PAY Business Account and
any other M-PAY Account. All tax obligations therefore fall under your
responsibility and that of any authorised person within your company. M-PAY
assumes no responsibility with regards to the execution of tax obligations,
or calculation and transfer of taxes relevant and applicable to you and your
company in any of the countries in which you operate.
- 11.1The Customer is prohibited from using the
Customer’s Account or other Services for conducting any unlawful activities,
including for money laundering or terrorist financing related operations, as
well as for any activities aimed at circumventing international sanctions or
prohibitions, or national sanctions or prohibitions of the United Kingdom.
- 11.2M-PAY shall have the right to suspend execution
of Services or payment transactions for a time period as may be necessary
for obtaining and assessing the information and documents, for fulfilment of
requirements of legislation governing the area of anti-money laundering and
counter-terrorist financing or other legislation, as well as the
requirements or restrictions imposed by correspondent credit/payment
institutions.
- 11.3The Customer using M-PAY Services is prohibited
from:
- 11.3.1not complying with the Terms and
Conditions, agreements on Services, legislation and other legal
acts, including but not limited to, anti-money laundering and
counter-terrorist financing acts;
- 11.3.2violating the rights of M-PAY and
third parties to trademarks, copyrights, commercial secrets and
other intellectual property rights;
- 11.3.3providing false, misleading or
incorrect information to M-PAY; refusing to provide information or
undertake other actions that are reasonably requested by M-PAY;
- 11.3.4providing to third parties false,
misleading or incorrect information about M-PAY and cooperation with
M-PAY;
- 11.3.5executing or receiving transfers of
illegally acquired funds, if the Customer is aware of or should be
aware of it;
- 11.3.6using Services of M-PAY in a way
which causes losses, liability or other negative legal consequences
or damage to the business reputation of M-PAY or third parties;
- 11.3.7using M-PAY Services from countries
that are not acceptable to M-PAY;
- 11.3.8spreading computer viruses and
undertaking other actions that could cause System malfunctions,
information damage or destruction and other damage to the System,
equipment or information of M-PAY;
- 11.3.9undertaking any other deliberate
actions which could disturb the provision of M-PAY Services to the
Customer or proper functioning of the Remote System;
- 11.3.10organizing illegal gambling, illegal
trading of stocks, indices, raw materials, currency (e.g. Forex)
options, exchange-traded funds (ETF); providing of trade, investment
or other services on currency exchanges, Forex markets and other
electronic currency trading systems; engaging in illegal trade of
tobacco products, alcohol, prescription drugs, steroids, weapons,
narcotic substances and their attributes, pornographic production,
unlicensed lottery, illegal software and other articles or products
prohibited by the law;
- 11.3.11without a prior written consent of
M-PAY providing financial services and/or legally organizing trading
in stocks, indices, raw materials, currencies (e.g. Forex), options,
exchange-traded funds (ETFs), providing trade, investment or other
services on currency exchanges, Forex markets and other electronic
currency trading systems. In case the Customer intends to provide
financial services using the Customer’s Account, the Customer shall
have a valid license, issued in the UK or a member state of the
European Union or a third country that has imposed equivalent or
substantially similar requirements and is monitored by the competent
authorities with respect to compliance with these requirements;
- 11.3.12 without a prior written consent of
M-PAY organizing lotteries, other specially licensed activities or
activities requiring a permit. In case the Customer intends to
provide the indicated services using the Customer’s Account, the
Customer shall have a valid license, issued in the UK or a member
state of the European Union and shall be monitored by the competent
authorities with respect to compliance with these requirements;
- 11.3.13 registering a Customer’s Account by
fictitious or someone else's name without having the power of
attorney; registering a Customer’s Account using services of
anonymous phone numbers or e-mail addresses provided by other
individuals or websites;
- 11.3.14 providing services that are
prohibited by the law or contradict public order and moral
principles;
- 11.3.15disclosing authorization codes,
passwords, PIN and other authentication means to third parties and
allowing other persons to use Services under the name of the
Customer.
- 12.1The Standard Fees we charge for the M-PAY
Services are available on the M-PAY Fees webpage:
https://m-pay.me/fees.html
- 12.2With the consent of the both Parties, M-PAY can
apply the Unique Fees on the Customer, in the form of a special agreement.
- 12.3You shall pay charges and fees for the Services
provided by Us pursuant to the Standard Fees /the Unique Fees or the Terms
and Conditions. All Our charges and fees are non-refundable.
- 12.4You shall pay to Us fees and charges for the
Services provided as set in the Standard Fees /the Unique Fees as at the
moment of provision of the respective service by Us.
- 12.5All applicable fees and charges payable to Us
will be deducted from Your Account.
- 12.6Subject to this Agreement, You are obliged to
pay all fees and charges due for Your use of Our Services regardless of the
suspension or the services blocking.
- 12.7In case of an unidentified amount, i.e. from
the moment we receive a transfer which we cannot allocate to any of our
existing Customers, after 10 (ten) Business days, M-PAY has the right to
charge a reasonable amount covering our expenses, until the payment is
allocated to the Customer or returned to the sender.
- 12.8You agree to pay taxes and costs, fines, or
penalties that we incur relating to your use of our Services.
- 12.9You agree to pay all taxes and fees imposed by
governments or governmental entities of your jurisdiction. We may not give
advance notice of changes to these charges.
- 12.10M-PAY may unilaterally amend the Service Fees
at any time. The Customer shall be notified of the amendment via M-PAY
Remote system. The amendment enters into force on the date set out in the
notice.
- 12.11It is your responsibility to stay informed and
review these changes once we have provided you notice of a change to our
fees.
- 13.1The Customer, as a holder of a Payment
Instrument shall:
- 13.1.1 Use the Payment Instrument in
accordance with the security guidelines published by M-PAY on the
M-PAY webpage governing the use thereof, which includes taking, as
from receipt of the Payment Instrument, all reasonable steps to keep
the Payment Instrument safe as well as taking steps to keep the
means which enable it to be used, including Customer Credentials,
safe;
- 13.1.2 Promptly notify M-PAY or a third
party designated by M-PAY for this purpose, of loss or theft of the
Payment Instrument and or Customer Credentials and of unauthorized
or incorrect use of the Payment Instrument after becoming soon as
the Customer becomes aware of them, but no later than 13 months
after the transaction date, to be eligible for any refund from Us.
- 14.1Under the Terms and Conditions, We undertake to
open and maintain the Account for You and You are authorized to use the
Account to execute Payment orders in compliance with the Terms and
Conditions.
- 14.2Only You are authorized to dispose with the
Account. Other person than You may dispose with the Account only based on
specific power of attorney granted by You in the appropriate form and
requirements, which we will inform on a case-by-case basis. This authorized
person will also be named "Customer", "User", "You" or "you" within this
Terms and Conditions. We are not obliged to verify the validity of a power
of attorney (including the fact of revocation thereof), except if the power
of attorney was issued to a third party in the presence of Our employee and
certified by Our employee. We are not responsible for transactions with the
Account if you have not notified Us in writing about the revocation of a
power of attorney in writing.
- 15.1The Payment transaction is authorized if You
give Us Your consent with it. Your consent (authorization) is given to Us
through the Remote System with an Authenticator created via Mobile app
"M-PAY". Consent to execute Payment transaction can be given also via the
payee or the payment initiation service provider, on condition that We
provide such option to execute payment.
- 15.2You must give Your consent (authorization) to
execute payment transaction prior to its execution.
- 15.3The Payment order is considered submitted to Us
by assigning the status “PROCESSING” to the Payment order in the Remote
System.
- 15.4You are entitled to withdraw Your consent
(authorization) to execute a payment transaction by withdrawing the Payment
order. You are entitled to withdraw the Payment order while this Payment
order has the status “PROCESSING”. In case that the Payment order was
submitted for a transaction that is due to be executed on a specific day or
at the end of a certain period of time before the agreed day, unless the
agreed day is a Business Day (i.e., the day we are open for business), then
your consent may be revoked before the following Business Day. In case of a
direct debit Payment order, the withdrawal of Your consent can be carried
out at the latest by the end of the Business Day preceding the day agreed
for debiting the funds.
- 15.5In case the consent to execute a payment
transaction is given through the payment initiation service provider, by the
moment the payment order is submitted to the respective provider.
- 15.6To withdraw the Payment order You shall submit
to Us the withdrawal notice via Remote System. The withdrawal notice shall
refer to the transaction number assigned to the respective payment or
specify any other information requested by Us.
- 16.1You shall submit to Us the Payment order in a
form pursuant to the Agreement, Our and law requirements.
- 16.2You are solely responsible for the accuracy
and completeness of the information You have indicated in the Payment order,
as well as for2 the legality of the purposes of the Payment order initiated
by You. The information typically required to initiate a payment includes
the account number, codes associated with the account number or financial
institution (e.g., sort code in the United Kingdom), the amount to be
transferred, and the currency. Additionally, supporting documents may be
requested to verify the payment transaction and its purpose. It is your
responsibility to ensure the accuracy of the information provided, and We
shall not be held responsible for any losses resulting from incorrect
information.
- 16.3For Us to execute the Payment order You need
to specify all requested information in the Payment order form. The
requested information in the Payment order form may differ depending on the
type of payment, payment currency, the payee's account jurisdiction and
other payment details.
- 16.4If We have established that not all
information necessary for Us for execution of the Payment order has been
indicated in the Payment order form or the Payment order form contains
errors or other faults, We will request from You further information or ask
You to adjust the information provided in the Payment order within the term
specified by Us. In such case, We shall execute the payment after provision
of the requested information or after You adjust the information provided in
the Payment order form, if this information is received by Us within the
term specified by Us and the Payment order is authorized. Otherwise, We are
entitled to refuse the execution of the Payment order and We shall not be
held responsible for any loss inflicted on You or any third parties.
- 16.5If You have established that the Payment order
contains erroneous or incomplete information, You may ask Us to adjust the
submitted Payment order while this Payment order has the status
“PROCESSING”. In such case You shall submit to Us the information on
adjustments to be made in the Payment order via Remote System.
- 16.6You may submit the Payment order in the
currency We execute payments only. Information on the respective currencies
is available on Our website.
Payment orders shall be completed in English or another language if such a
condition for the execution of the payment follow the requirements of the
payment scheme, the jurisdiction of the payee's account, or from a specific
payment currency or due to other requirements. Unless We specify otherwise,
the Payment Order must be completed in the language in which the Payment
order form is developed.
- 17.1You shall ensure that the amount necessary for
the execution of the Payment order and for payment of the related fees is
available in the Account, which is to be debited for the respective payment.
If there are insufficient funds on the Account, We are entitled to refuse
such Payment order any time.
- 17.2You can send and receive funds within Our
Remote Systems (Internal payments).
- 17.3The execution time of Payment orders is
specified in these Terms and Conditions and Your fees plan.
- 17.4PLEASE NOTE THAT THE EXECUTION TIME SET OUT IN
THIS CHAPTER AND IN THE AGREEMENT ARE BINDING ON US AND CAN ONLY BE MET IF
YOU HAVE FULFILLED AND COMPLIED WITH THE TERMS OF THE AGREEMENT.
If the Payment is made within the United Kingdom in sterling or involving
only one currency conversion between the euro and sterling, is made within
the EU/EEA, then the maximum period of time during which the funds are
credited to the payee's payment service provider's account may not exceed
four Business Days from acceptance. The maximum execution time for a Payment
order may vary depending on the currency, country of destination, and
payment system. In any case, the maximum execution time shall be at most 14
Business Days. If the execution of a payment order takes longer than 14
Business Days, you must immediately contact us.
- 17.5If the execution time of the Payment
transaction is a date that is not a Business Day for Us or the payment
initiation service provider, the Payment transaction execution can be
started on the following Business Day.
- 17.6If You have submitted the Payment order on a
Business Day after the cut-off time for acceptance of payment orders, the
Parties agree that the Payment order is submitted on the next Business Day.
- 17.7If You fail to comply with the Terms and
Conditions or should the execution of the payment order be prohibited by the
law, We or the financial institution participating in the Payment order
execution chain are entitled to refuse execution of the Payment order.
- 17.8We shall have the right to refuse execution of
the Payment order that requires a currency exchange if We do not carry out
the exchange of the respective currency.
- 17.9We inform You that We, executing the Payments
and performing other services upon Your instruction, uses services of third
parties including services of the correspondent partners.
- 18.1We will credit the Account with the funds due
to You as the recipient of the incoming Payment.
- 18.2We will make the amount of the incoming
payment available to You by crediting the Account specified in the payment
order immediately after the receipt of the respective payment amount on Our
account, unless the mentioned funds are freely available / without any
encumbrances and restrictions or otherwise specified in regulatory
enactments. We shall establish a cut-off time for acceptance of payment
orders within the Business Day, specifying it on Our website and / or the
Price List. If the payment amount is transferred to Our account after the
cut-off time for acceptance of payment orders or on the day that is not a
Business Day, such payment amount is deemed to have been received on Our
account on the following Business Day.
- 18.3If applicable, after crediting the Payment
amount to the Account, We will deduct the commission fee specified in Your
Price List (if the fee is intended).
- 18.4If the currency of an incoming payment differs
from the Account currency, We will make the currency exchange pursuant to
the exchange rate determined by Us on the date of payment, unless we have
agreed otherwise.
- 18.5We may refuse to execute an incoming payment
or postpone execution thereof and request detailed information from You or
the sending payment service provider if we have received an incoming payment
with erroneous, inaccurate, or incomplete information.
- 18.6If You have noticed that the funds have been
credited to Your Account by mistake or due to Our error, or in any other way
that have no legal basis, You are obliged immediately notify Us about it no
later than within 1 (one) Business Day after noticing the wrongly credited
funds. You acknowledge and understand that You have no right to dispose of
funds that does not belong to You. In such cases, You give irrevocable
consent and We are entitled without any additional consent from You or order
from You to correct the error and debit (withhold) such funds from Your
Account. If the amount of funds on Your Account is insufficient to debit the
funds credited by mistake, error or without legal basis, You unconditionally
commit to ensure that there is sufficient balance in Your Account to repay
to Us money credited by mistake in 3 (three) Business Days from the receipt
of such a request from Us.
- 18.7We have the right not to credit the received
Payment amount in Your Account, if Your Account number is correct, but the
rest of information does not match with the existing data available to Us.
If We exercise Our rights under this Clause, then the funds received from
other payment service providers shall be transferred back to the Payer's
payment service provider or a request shall be sent to the Payer’s payment
service provider to clarify the Payee’s details. We have the right to
suspend crediting for the time necessary for obtaining and evaluating
information and documents.
- 18.8Where We are obliged to return a payment or we
have decided to return a payment for any reason, regardless of whether the
payment was credited to Your Account or not, We may charge You a fee
according Your tariff plan.
- 19.1Information on payments is accessible to You
through the Account statement. As soon as We make the account statement
accessible to You, it is assumed that You have information on payments
specified therein.
- 19.2You should review your account statement and
other Our notices, which are related to the transactions made, and to
ascertain correctness of the transactions and their compliance with
authorized payments at least once every calendar month.
- 19.3We have the right to record and store any
Payment Order submitted by any of the means agreed on with Us and to record
and store information about all Payment operations performed by You or
according to Payment Orders of You. Records mentioned in the present clause
may be submitted by Us to You and/ or third persons, who have the right to
receive such data under the basis set forth in the law, as evidence
confirming the submission of Payment Orders and/ or executed Payment
operations.
- 20.1We conduct currency exchange to the currencies
whose exchange rate is stipulated by Us. If the currency of the Account
indicated in the payment order that shall be debited for the payment differs
from the currency of the payment indicated in the payment order, we will
perform currency exchange of the funds freely available in the Account in
the amount necessary for the execution of the payment to the payment
currency as indicated in the Payment order. The applicable exchange rate may
vary from the exchange rate set by Us specified in the Payment order, if by
the time of currency exchange the exchange rate set by Us has changed and
this shall be appropriately notified to you at the time of submitting the
Payment order or shortly thereafter but in any case prior to the execution
of the Payment
- 20.2If the currency of an incoming payment differs
from the currency of the Account indicated in the payment order, We are
entitled to convert the currency of the incoming payment to the currency of
the respective Account.
- 20.3Where We are obliged to return a payment that
has been executed involving currency exchange, We are entitled to revert the
currency of the payment according to the currency exchange rate set by Us
and applicable at the moment of such reversion and charge You a fee for the
return a payment according Your tariff plan.
- 20.4You will receive the information on the
currency exchange rate applied to a particular payment upon executing an
order on the respective currency exchange transaction.
- 20.5Regarding transactions in foreign currency, We
are entitled to apply conditions and restrictions imposed by the country of
origin of the respective currency and applicable to Us when conducting
transactions or providing services involving such currency.
- 21.1
We may be liable to You where We perform a
Payment transaction for You that You did not authorize Us to perform. We
will refund the Transaction amount to You promptly, but at the latest by the
end of the Business Day following the day on which We were notified the
Payment transaction concerned has not been authorized or otherwise became
aware of the unauthorized Payment transaction.
- 21.2
We may be liable to You where We fail to
perform, incorrectly perform a Payment transaction that You authorize Us to
perform unless it was due to Your fault.
- 21.3
The fact that we have not charged you a fee
within the Agreement or we otherwise delay the exercise of Our rights under
this Agreement does not release You from Your obligations under this
Agreement and from any subsequent performance of this Agreement. If We do
not immediately insist on performance of the Agreement by You or if We delay
in taking steps against You to comply with Your obligations under this
Agreement, it does not mean that You are not obliged to fulfil these overdue
obligations and does not prevent us from contacting you later.
- 21.4
We will have no liability if We fail to
perform or incorrectly perform the Payment transaction where the reason for
this was due to events outside Our control or Our statutory obligations.
- 21.5
We shall not be liable for any charges of the
correspondent partners that You may incur in sending funds to or receiving
funds from Us.
- 21.6
We will pass on to You all correspondent
partners, clearing banks or banking systems charges and any other costs
incurred or suffered by Us or by Your instruction, to reverse, recall or
modify any Payment except as the result of any error on Our part. Some of
these charges are levied by Us to offset the costs we incur from Our banking
providers for making Payments. If Our correspondent partners, clearing banks
or banking systems we use charge us more to process any Payments, we shall
have to pass this cost onto you. We shall provide you with as much notice as
we can.
- 21.7
We do not assume liability for damage that is
due to any unusual and unforeseeable events over which We have no control
and whose consequences, in spite of exercising due care, We could not have
avoided (caused, for example by events vents outside Our control, including
any failure or delay in performing an obligation under this Terms and
Conditions due to force majeure events such as: acts of God, accident,
riots, war, terrorist act, epidemic, pandemic, quarantine, civil commotion,
breakdown of communication facilities, breakdown of web host, breakdown of
internet service provider, natural catastrophes, governmental acts or
omissions, changes in laws or regulations, national strikes, fire,
explosion, generalized lack of availability of raw materials or energy. For
the avoidance of doubt, Force Majeure shall not include (a) financial
distress nor the inability of either party to make a profit or avoid a
financial loss, (b) changes in market prices or conditions, or (c) a party's
financial inability to perform its obligations hereunder.
- 21.8
We do not exclude or limit in any way Our
liability to You where it would be unlawful to do so. This includes
liability for death or personal injury caused by Our negligence; for fraud
or fraudulent misrepresentation.
- 21.9
Some payment methods the Customer may use to
put funds into Customer Account(s) may allow the Customer to reverse (or
‘chargeback’) a transaction after the event. The Customer agrees only to
exercise such rights where the Customer has not authorized a payment of
funds into its Account(s) using the relevant payment method, and the
Customer will not exercise any chargeback rights for other reasons,
including if the Customer is in dispute with a third party or if the
Customer does not have enough Customer money in its Account(s). If M-PAY
needs to spend time investigating a chargeback instructed by the Customer
then M-PAY may charge the Customer a Fee for doing so.
- 22.1You can give permission to Open banking
provider Volt.io to access to your M-PAY Account information or make
payments on your behalf.
- 22.2Once you’ve given a third party provider
consent to provide you with their services, we have to provide access to
certain aspects of your Account if they request it.
- 22.3If you don’t want to use services provided by a
third party provider on your Account, you don’t need to give them your
consent. If you want to withdraw your consent, you’ll need to contact them
directly. And if you think one is acting without your consent, you should
contact our Customer Services straight away.
- 23.1
If no transactions are made to or from an Account over a 12 (twelve)-month period, an Account is classed as dormant.
- 23.2
After a 12 (twelve)-month period of dormancy, to prevent any risks from fraud, We close it.
- 23.3
If the Customer doesn't process any transactions on its Account within 90 (ninety) days, an Account is classed as inactive.
- 23.4
Inactive type of Account will be charged inactivity fees per month in accordance with Price List.
- 24.1 Your Account does not expire and will remain
valid until cancelled by either you or M-PAY.
- 24.2Within 14 (fourteen) days of the date of
opening your Account, you have the right to close your Account at no cost by
contacting M-PAY and requesting that in writing; provided, however, that you
will be liable for all transactions made by you during such period. After
the initial 14-day period, you may close your Account at any time by giving
one month’s notice to M-PAY in writing via email at:
[email protected]
- 24.3When your Account is closed, it cannot be used.
You will remain liable for all obligations relating to your Account even
after your Account has been closed. Closing your Account does not mean that
we delete the personal data that we hold on you and we will continue to
store such data, including the history of your transactions for a minimum
period of 5 (five) years as required by law.
- 24.4We may terminate this Agreement and close your
Account by giving you a 2 (two) month’s notice via email with or without
reason., unless otherwise stated in these terms and conditions.
- 24.5 We may suspend, freeze block or terminate this
Agreement and/or your right to use your, or refuse to reactivate your
Account, immediately upon a notice given to you via email:
- 24.5.1 if you violate any provision of this
Agreement and fail to resolve the matter in a timely manner;
- 24.5.2 if you act in a manner that is
threatening or abusive to our staff or any of our representatives;
- 24.5.3 if you fail to pay commission or any
part of the transaction Fees;
- 24.5.4 if your Account is dormant and its
balance has reached zero;
- 24.5.5 if you attempt to gain unauthorised
access to the software or another Customer's Account or provide
assistance to others attempting to do so;
- 24.5.6 if you overcome our software
security features;
- 24.5.7 if we are concerned about the
security of your Account;
- 24.5.8 if we suspect your Account is being
used in an unauthorised manner, including without limitation, by a
person other than you, or that the Services are being used for the
benefit of someone other than you, or used to commit fraud or for
other illegal purposes;
- 24.5.9 if we need to do so to comply with
the law or with a request of law enforcement or other government
agencies;
- 24.5.10 we are so required by a subpoena,
court order, order or request of a government authority or
regulatory authority;
- 24.5.11 you take any action that we deem as
circumventing our controls, including without limitation opening
multiple Accounts;
- 24.5.12 use of your Account is subject to
any pending litigation, investigation, or government proceeding or
we perceive a heightened risk of legal or regulatory non-compliance
associated with your Account activity;
- 24.5.13 our service partners are unable to
support your use of the Services;
- 24.5.14 we believe that you adversely
affect our reputation;
- 24.5.15 we reasonably believe that your
Account is associated with any account that has been suspended or
terminated for breach of this Agreement or suspended for any other
reason;
- 24.5.16if you do not provide information
upon the request of M-PAY or the information provided does not meet
M-PAY`s requirements; or
- 24.5.17 due to a Force Majeure event;
- 24.5.18 if you become insolvent or
bankrupt, or go into or commence proceedings for the liquidation or
make an agreement with Your creditors generally;
- 24.5.19 if you are a partnership, and the
partnership ends; or
- 24.5.20 If you are a legal entity and
control of you or your business changes.
- 24.6We will notify you on the above circumstances
as soon as we can before we do this, if possible, or otherwise immediately
afterwards, giving our reasons, unless letting you know would compromise
reasonable security measures or be otherwise unlawful.
- 24.7The right to terminate this Agreement and to
close your Account shall not stop you or us from exercising any other right
or remedy in respect of the breach concerned (if any) or any other breach.
- 25.1The parties undertake to keep technical and
commercial information of each other secret, except for publicly available
information, which has become known to them while executing the Agreement,
and not transfer it to third parties without a written consent from the
other party or its legal representatives.
- 25.2The Customer agrees that M-PAY manages
Customer’s Personal data with an aim to provide Services to the Customer and
execute other responsibilities under the Agreement. The parties guarantee
security of Personal data received while executing the Agreement. Personal
Data is used to the extent necessary to execute the Agreement. The
above-mentioned Personal data may not be disclosed to third parties without
a consent from the subject of this data, except for cases stated by the law
or the Agreement.
- 25.3The Customer grants M-PAY the right to
undertake necessary measures, including but not limited to, submitting
requests to third parties directly or via third parties in order to
determine the identity of the Customer and accuracy of other data submitted
by the Customer.
- 25.4M-PAY points out that in all cases M-PAY
operates only as a service provider for the Customer, which sends money to
the recipient at the request of the Customer (money sender) and does not
provide or offer any services to the recipient until it becomes a Customer
of M-PAY.
- 25.5M-PAY may record, store, process and transfer
Personal data in accordance with the Privacy Policy published on M-PAY
Privacy Policy webpage.
- 25.6The principles on the processing of Customer
data shall be an integral part of the Terms and Conditions and according to
the aforesaid, the Customer has granted to M-PAY his/her consent to process
and forward the Customer’s data in accordance with the provisions
established in the M-PAY Privacy Policy.
- 25.7We may collect and disclose personal
information to third parties as explained in our Privacy Policy. We collect
personal information, for example, when You transact with us (e.g., using
the Services) and other companies; submit information on applications,
forms, and by other means; use or visit our or other apps or online sites;
enter a promotion; register for communications; or join a loyalty program.
We also collect information from many sources and may collect, track and
combine information across devices, platforms and channels. Information
disclosed may include financial data (e.g., information on transactions with
us and other financial matters), contact information, identification,
computer, mobile device and social network information. Recipients may
include financial and non-financial companies, service providers, government
agencies and direct marketers. You may direct us to limit certain
disclosures, and Your choice will apply until You change Your choice or we
delete Your data. To limit disclosures (opt out), email [email protected].
- 25.8M-PAY reserves the right to transmit the
Information or Personal data about you as well as activity in your Account
to law enforcement institutions, state authorities and financial
institutions, if such is necessary to comply with relevant legislation, and
in order to identify whether these Terms and Conditions and relevant
legislation have not been violated.
- 21.1M-PAY follows the Know-Your-Customer (KYC)
principle upon the establishment of and during the business relationship
with the Customer. Under the KYC principle, the Customer must be identified,
and the appropriateness of transactions must be assessed based on the
Customer’s principal business and/or prior pattern of transactions.
- 26.2M-PAY has the right to request additional
information (e.g. documents serving as grounds for the transaction) from the
Customer at any time to allow it to comply with its anti-money laundering
obligations e.g. information concerning the following:
- 26.2.1 The owners and Ultimate Beneficiary
Owners of the Customer.
- 26.2.2 The Customer’s business activity,
including:
- 26.2.2.1 data on the contractual
partners;
- 26.2.2.2 turnover;
- 26.2.2.3 the share of cash and
non-cash transactions;
- 26.2.2.4 frequency of
transactions;
- 26.2.2.5 contracts of sale, lease;
- 26.2.2.6 supply, documents
pertaining to goods etc.;
- 26.2.2.7 key financials;
- 26.2.2.8 other relevant
information on the Customer’s business activity.
- 26.3The Customer agrees to immediately comply with
and without any undue delay grant all needed information and documents
related to any request for further information M-PAY reasonably requires. If
the Customer, regardless of the respective request, does not submit to M-PAY
the documents and relevant information requested by M-PAY, the Customer
shall be deemed to have fundamentally breached the Terms and Conditions and
M-PAY may, without following the terms of prior notification,
extraordinarily terminate the Terms and Conditions and any other agreement
which serves as a basis for the business relationship.
- 26.4M-PAY has also the right to ask the Customer to
provide all other data that M-PAY considers necessary and forward any
information accumulated about the Customer under the legislation to
correspondent banks and to payment intermediaries, with a view to perform
the obligations stemming from the legislation.
- 26.5M-PAY has the right to refrain from executing
the Customer’s Payment order, if the Customer has failed to perform the
obligations or if, based on the information and/or documents provided, M-PAY
has come to suspect that money laundering or terrorist financing may be
involved.
- 26.6Based on the Terms and Conditions and Our AML
policy, We may block access to the Remote System/Our Services from certain
countries.
- 27.1The Customer agrees that M-PAY will provide
notifications to the Customer via the Remote System and/or by sending them
to the email address indicated by the Customer at the time of registration
in the System. The Customer acknowledges that a M-PAY notification submitted
in any of the above-mentioned ways shall be deemed as properly provided. If
such notifications are not related to a substantive amendment to the
Agreement, it shall be deemed that the Customer has received the
notification within 24 hours from the moment it was sent via Remote System
or sent to the Customer by e-mail.
- 27.2Unless agreed otherwise by M-PAY and the
Customer, M-PAY reserves the right to amend these Terms and Conditions,
Price List, charges, or other items described or referenced in this
Agreement at its sole discretion.
- 27.3In case M-PAY notification relates to essential
amendments to this Agreement or the Standard Fees and/or Unique Fees, the
Customer shall be informed at least 2 (two) months in advance. The
amendments to Terms and Conditions, or the Price List come into force 2
(two) months after the notification sent via Remote System and/or sent to
the Customer by email or via any other means indicated by the Customer
during registration, unless other later date is indicated in the
notification.
- 27.4The 2 (two) months notification period shall
not be applicable and notifications shall be provided if:
- 27.4.1the Terms and Conditions, or the
Price List are changed due to changes in mandatory requirements of
the legislation;
- 27.4.2 new service or a part of a service
appears, which may be used or not used by the Customer at its own
choice.
- 27.4.3If you do not accept any changes
proposed by us, this Terms and Conditions will be automatically
terminated on the date when the change is due to come into force
without any additional charge in accordance with this Agreement.
- 27.4.4 Non-essential amendments to the
Agreement are style and grammar corrections, paraphrasing and moving
a sentence, a clause or a section of the Agreement for the sake of
better understanding; provision of examples for articles and other
changes which do not reduce or limit the Customer’s rights and do
not increase the Customer’s liability or aggravate Customer's
situation.
- 27.5 The Customer undertakes to check the Remote
System, indicated email and other instruments for receipt of notifications
indicated in the personal profile, as well as Website, on a regular basis,
in order to notice notifications of amendments to the Terms and Conditions,
Standard Fees and/or Unique Fees in a timely manner. The Customer will be
deemed to have accepted changes in the Terms and Conditions as well as
Standard Fees and/or Unique Fees unless he notifies in written form the
M-PAY that Customer does not accept them before the date of their proposed
date of entry into force. In case the Customer does not agree to amendments,
the Customer has the right to refuse from M-PAY Services and terminate the
Agreement, by submitting a written notice of termination of the Agreement,
notifying M-PAY thereof 30 (thirty) days in advance.
- 28.1
If You have a complaint, please contact Us at [email protected]. You will need to tell us: Your name and the Account number, when the problem arose and how You would like Us to put the matter right. We will look into Your complaint and respond to You via Remote System. We will communicate with You in English.
- 28.2
If You are not satisfied with the way We have handled Your complaint, if are an eligible complainant You can refer it to the Financial Ombudsman Service within 6 (six) months of the date We sent (or should have sent) our final response to You.
Their address is: Exchange Tower London E14 9SR.
Phone from UK: 0800 023 4567.
You can find more
information on their website https://www.financial-ombudsman.org.uk/.
- 28.3
If Your complaint is about our service relating to payments or electronic money, You can also make a complaint to the Financial Conduct Authority.
- 29.1Communication between M-PAY and the Customer
shall be conducted in English unless the Parties agree on any additional
languages for communication. M-PAY may provide support to its Customers in
various other languages.
- 29.2In case of any discrepancies between the
additional languages, an authorised translator shall translate the language
into English, and this official translated transcript shall be notarized by
the relevant government authorities and shared between the parties to
resolve any disputes in relation to this Clause.
- 30.1The Parties shall resolve any dispute arisen
under a Terms and Conditions by negotiation. If the parties are unable to
resolve the dispute by negotiation, then the dispute shall be resolved in
the courts of England and Wales, unless in case applicable law imperatively
stipulates otherwise.
- 31.1
31.1. Laws of England and Wales apply to the relationship between M-PAY and the Customer, including all terms and conditions regulating the Services. If the Customer is a consumer, the mandatory laws of the Customer’s domicile may also apply. The Customer is solely responsible for understanding and complying with any and all laws, rules and regulations of the Customer’s specific jurisdiction that may be applicable to the Customer in connection with the Customer’s use of the Services, including but not limited to those related to taxes or any other fees.
- 31.2
31.2. Any court action between M-PAY and the Customer shall be resolved in a court of the registration of M-PAY unless agreed otherwise by the Customer and M-PAY or provided otherwise in the law. An agreement on jurisdiction applies also if the Customer settles into a foreign state after entry into the Terms and Conditions.
- 32.1
If any provisions of any Terms and Conditions
are void, then it shall not cause the entire Agreement to be void or release
the Parties from performing the remaining obligations of the Agreement.
- 32.2 The Customer shall not have the right to
transfer any rights or obligations under Terms and Conditions to a third
party without M-PAY’s consent. M-PAY shall have the right to transfer any
rights and obligations under any Terms and Conditions to a third Party
without the Customer’s consent following a notification to the client.
- 32.3 This Agreement does not create any rights or
benefits in favour of any third party. No person other than the Customer and
Us shall have any right to enforce any of the provisions of this Agreement.
- 32.4 Links to websites given in the Agreement are
integral part of this Agreement and are applied to the Customer from the
moment it starts using the respective Service.
- 32.5 All the content, the design and other
intellectual property relating to the Service are owned by Us or third
parties, and the Customer may not copy, imitate , imitate or use it unless
We permit the Customer to do so. The Customer has only right to use the
Service, including the Remote Systems, following the rules provided in the
Terms and Conditions.
- 32.6 You can get a copy of this Agreement by
printing or downloading or by emailing Us and requesting a copy of it.