Terms of Service / Veripay BV User Agreement
Welcome to the website of Veripay. Upon accessing the website and using its services these Terms and Conditions, which are defined in the following, shall apply.
References such as “Veripay”, “we”, “our” and “us” as used in these Terms and Conditions refer to Veripay.
The Customer, you, accepts these Terms and Conditions upon accessing the website and using its services. Please do not make use of the website and its services if you do not consent to these Terms and Conditions.
1.Definitions and Interpretation
a. In the appendix under Schedule 1 explanations of the terminology as used in these Terms and Conditions can be found.
b. Section headings in these Terms and Conditions are for convenience only and may not be used in construing it.
c. Use of “include”, “includes” and “including” herein will be deemed to be accompanied by the words “without limitation”.
d. When numbers of days are mentioned, they are intended to refer to calendar days if not stated otherwise. Same applies to the words 'month' and 'monthly' meaning calendar months.
e. Any references in these Terms and Conditions to any provision of a statute shall be taken to incorporate that provision as amended, re-enacted or extended at the relevant time.
f. In the case of an inconsistency or conflict between any two or more provisions under these Terms and Conditions, it shall be resolved in favour of Veripay and the provision which is more favourable to Veripay shall prevail.
2. Access to the Website and Services
a. The customer, you, agrees to:
1. access the website and use the services in good faith and for lawful purposes only. Further, the customer is required to make use of the website in a lawful manner.
2. only provide accurate information or data necessary for the website.
3. comply with any and all guidelines, operating rules, policies, instructions and notices pertaining to the use and access to the website at all time, as well as with any amendments to the aforesaid issued by us from time to time.
b. For customers below the age of 18 it is mandatory to obtain consent from the parent(s) or legal guardian(s). The consent to agree to these Terms and Conditions holds the parent(s) or legal guardian(s) responsible for: 1. the customer's actions upon accessing and using the website. 2. any charges related to the use of the website. 3. the customer's conformity to these Terms and Conditions. Please do not access our website without consent from the parent(s) or legal guardian(s).
c. Only customers with accounts on our website are allowed to have access to password protected areas as well as to use our services. Please refrain from unauthorised access to these parts of the website or any other parts containing protected information which are not explicitly made available for your use.
3. General Use of the Services
3.1 Description of Payment Service
a. We offer an electronic payment service which allows for sending and receiving of payments from third parties authorised and approved by Veripay. We reserve the right to modify any functionality to send and receive payments from other users via the website.
b. Funds for corporate purposes are not related to funds available in your account, which are only for your own use. Veripay only acts as your agent with respect to the custody of your electronic money and in facilitating payment.
c. When registering on our website, an online account will be set up containing your electronic money to be used for transactions (“customer account”).
d. You acknowledge and agree to that:
1. Veripay has no license as a bank. Therefore, no banking services or any other banking functions such as deposits or credits are offered nor allowed.
2. Veripay does not act as trustee or assumes any fiduciary role regarding the electronic money in your account.
3. there is no insurance by a governmental agency connected to the customer account. Therefore, there is no compensation if Veripay is not able to satisfy the requirements regarding the customer account or any other services.
a. In order to register on our website personal information such as name, address, telephone number, email address and date of birth are necessary. All information provided by the customer need to be accurate and complete.
b. Each customer is allowed to have only one (1) customer account. In the event of having more than one account, we are going to contact you in order to identify the main customer account. This may result in blocking of any other account(s) you may possess on our website. In this procedure we are not liable to the customer. This may also lead to loss of electronic funds pertaining to any other account than the main account.
c. We are entitled to demand for additional information or documentation for any reason and at any time. This may implicate, but not exclusively, information confirming identity, age, bank details and credit, debit, prepaid facilities you have registered with us. You consent to provide these information or documentation instantly to us upon demand. If you do not provide us with the requested information, we are entitled to limit your use of the website or to even shut down your customer account without any liability to you.
d. Veripay receives authorization by you to make inquiries regarding the validation and verification of your identity for any reason at any time. This may be conducted by inquiring you directly or third parties.
e. In order to have access to the services of the website you need to have an username and a password. These may be generated either by
1. us, Veripay.
2. you, the customer
Veripay is entitled to invalidate any username and password issued by us or generated by you without informing you about the reasons and without prior notification. Further, we are not to be hold liable for any expense, damage or loss you may suffer from such procedure.
3.3 Account Information
a. Ensure that all information you provide to us are correct and updated. In the event of change, please notify us.
b. Security of username and password lie within your responsibility. Your are advised to change your password regularly, as we are not liable for unauthorised use of your password and username. If you notice unauthorised use of either username or password, you have to notify us as soon as possible.
c. Any use of username or password on our website shall be defined as use of our services. Any data, information or communication issued, transmitted or posted when being logged in with your username and password shall be regarded as being issued, transmitted or posted by you regardless of authorised or unauthorised use of your username and password. You are exclusively responsible for such procedures and, therefore, are not to hold us liable for eventual loss, damages, expenses or actions relating to the (mis-)use of your username and password on the website.
The following fees apply to every Veripay account:
Account management (monthly): 8,00 EUR - Incoming Wire: 2,5% (min. 2,5 EUR / USD) - Incoming Bitcoin: 5% (min. 5 EUR / USD) - Direct Debit MasterCard (issued by third party): included within „VIP Account“ for sponsored users. Account opening feei VIP Account: 99 EUR.
Fees raised by third parties for our services, for example by banks (but not only), are not within our liability. We are entitled to refuse acceptance of payment instruments, for example credit cards or bank accounts, as funding methods for any reason.
3.5 Adding Funds to your Account
a. Hereby you consent to Veripay receiving money on your behalf from a selected payment source. You consent to pay in electronic money to your customer account according to the directions available on the website (which may be modified in time). Further, you consent to not use invalid, illegal or unauthorised payment methods in order to pay in electronic money to your account.
b. Veripay may conduct know-your-customer or due diligence checks according to any applicable regulatory demands. Further, we may conduct an internal risk assessment, before clearing funds for receipt by your customer account.
a. Making payments with the Veripay account is only possible to merchants approved and registered by us.
b. You accept that if your electronic funds are not sufficient for a payment to take place, we are entitled to cancel the transaction. If any loss, damage or liability may occur from cancelling the transaction due to lack of funds we are not to be hold liable.
c. When conducting a transaction from your customer account, Veripay will enable the transaction of the electronic money including any applicable fees and charges from your account after checking and verifying the transfer.
3.7 Restricted Activities
a. When using our website and our services or during your interaction with Veripay, a merchant, another customer or any other third party on our website, you are not allowed to:
2. infringe Veripay's or a third party's copyright, trademark, patent or other intellectual property rights as well as privacy or publicity rights.
3. pose as any other person or entity as well as to provide incorrect information on your affiliation with any person or entity.
4. violate any laws, regulations or rights
5. defame, threaten or harass any third party.
6. refuse without adequate reason to present documentation of identity or any other necessary information to us as well as to reject cooperation in an investigation conducted by us.
7. provide incorrect and deceitful information.
8. try to receive money from a merchant and Veripay for the same transfer by submitting similar claims.
9. make use of an anonymizing proxy.
10. possess an account related to another account engaged in restricted activities as defined here.
11. pose a threat to our infrastructure, for example by imposing a large load on our infrastructure. Further, actions which may lead to material risk should be omitted.
12. take actions on our website leading to complaints, fines, claims, disputes and other liabilities to Veripay or any other third parties.
13. distribute viruses, trojan horses, worms, or other computer programming technologies that may damage our website and any other third parties, including other users on the our website.
14. access or to interfere unauthorised with other computer systems related to our website.
15. provide offensive and pornographic material. In general, no material violating laws or regulations is to be distributed on our website.
16. take any actions causing us loss of services of our internet service providers, payment processors or any other suppliers.
17. bypass or to manipulate our billing process, fee structure or fees owed to Veripay.
18. impede another's use of our website.
19. move your customer account to another third party without our prior written permission.
20. participate in any illegal and unlawful activity.
21. participate in any sale or purchase of goods/services breaching any rights of any third party. Further, sale and purchase of prohibited goods/services are not allowed on our website.
22. Participate in any illegal or criminal activity by using our website. This also includes, without limitation, illegal downloads.
b. If such actions as defined in 3.7 a. are suspected to be taken by you, we are entitled to act as following without being liable to you:
1. inform the responsible authorities of the suspicious actions.
2. block and deny any transfers.
3. block and shut down the customer account.
4. apply discretely procedures in order to prevent and detect suspicious activities. Further, execution of transactions is denied if it is suspected that an account is misused for illegal schemes.
5. take legal actions against the customer if considered necessary.
c. If closing of the customer account seems necessary, you will be informed as soon as possible.
d. If your account is blocked by us, we will notify you of the blocking whenever reasonably possible. Further, you will be given the chance to request for restoration of access if and when convenient. Any restoration of access shall be at our sole discretion and shall occur according to our policies and procedures.
3.8 Closure of Customer Account
a. The possibility of closing the customer account on our website is available to you at any time by contacting our support team. Information on how to contact the support team can be found on the website.
b. If we close a customer account, we will inform you, the relevant customer, to arrange for restitution of any electronic money left in the customer account.
c. The closure of your customer account will not influence any cleared transfers which have been already made.
d. Accountability for your customer account shall remain for a period of one hundred and eight days (180) after the closing of your account. During this period you are liable for your customer account. We reserve the right to hold back the electronic funds for up to one hundred and eighty days (180) after the closure of your account, in the case of an open investigation against you. We take this measure to protect ourselves against, without limitation, any risk of reversals.
e. In the event that you do not log in to your account for a period of more than six (6) month, we are entitled to suspend your account if there are no funds remaining on the relevant customer account. If you want to request a reactivation of your account, please contact the support team. We will accept the reactivation of your customer account at our sole discretion according to our policies and procedures.
f. We are entitled to suspend your use of our website at any time and for any reason. Veripay will notify you about the suspension as soon as possible. You accept that Veripay is not to be hold liable to you regarding any inability to access your customer account or any other service we may provide.
g. After closure of your account we will repay any electronic funds belonging to your customer account as soon as possible. We will conduct the transaction through any payment method we consider suitable. Therefore, you should provide us with information/documentation as such:
1. valid bank account details. Name and address in your customer account should be congruent to name and address details of the bank account's holder.
2. A copy of a valid form of ID, for example passport or driving licence. We reserve the right to withhold any remaining electronic funds related to an infringement of these Terms and Conditions as long as the investigation concerning such an infringement is carried out or up to the date such dispute has been resolved, for example by jurisdiction.
h. Veripay reserves the right that before authorisation of any withdrawal of your funds, including repayment of electronic funds after closure of your customer account, checks on money laundering, fraud, terrorism financing or any other illegal activity can be performed.
4. Availability of Services
On occasion and without any reason or notification, we may revise, upgrade or discontinue the provision of, in whole or partly, the website and its services. In such case, we hold no liability to you if such measures restrict or impede your access to the website or its services.
a. You may be entitled to receive cashback into your customer account through various incentive programs and/or promotional activities realised in conjunction with merchants and/or our business partners.
b. Your use of cashback funds is restricted as follows:
1. Veripay may introduce a minimum spend requirement from time to time.
2. Veripay may impose an expiry date on your use of the cashback funds from time to time. In this case, you will be notified of such a date.
c. Cashback funds are non-refundable and cannot be paid out from your customer account to your bank account.
6. Promotional Activities
6.1 Promotional Campaigns
If you take part in any of our promotional campaigns you are deemed to have also acknowledged and agreed to the terms and conditions of the respective campaign as published online.
6.2 Promotional Material and Marketing
a. You accept and authorise Veripay to use any information given by you (including personal details) for the purpose of sending information and promotional notifications to you via SMS, social networks, email, phone-calls, push notifications, communication apps and in-app notifications.
b. Your acceptance of these Terms and Conditions shall constitute your consent for the purpose of the provisions of any spam control laws. If you do not want to receive promotional emails you can click on the relevant hyperlink in any promotional email sent to you by us.
c. If you do not want to receive any such informational or promotional notifications via any communication channel mentioned in paragraph a. of this section, please inform our customer support via phone or email.
We may attach banners, java applets and/or such other material to the website in order to advertise Veripay 's or our business partners’ products and services. For the avoidance of doubt, you shall not be intended to receive any payment, fee or commission regarding any such advertisement or other promotional materials.
On our website we may incorporate hyperlinks to other contents on the internet and to other websites operated by third parties. In the case that such websites contain errors, delays, omissions, defamation, slander, falsehood, pornography, profanity, obscenity, inaccuracy or any other offensive material or that accessing such websites may cause you negative consequences, we are not to be hold liable as these contents are not under our control. Any hyperlinks to any such websites or content do not constitute an approval of such websites or content by us and you agree that your access to or use of such linked websites or contents is entirely at your own risk.
7. Representations and Warranties
By agreeing to these Terms and Conditions, you represent and warrant that you are not violating any applicable laws or regulations through your use of the Veripay website, your customer account and the services. Further, you consent to defend, indemnify and hold Veripay, its indemnitees, affiliates and authorised representatives harmless from any claim, demand (including legal fees and costs), fines, penalties or other liability incurred by Veripay due to or arising out of your infringement of this representation and warranty. Veripay may inform the responsible authorities of any suspicious activity.
8. Intellectual Property
The intellectual property in and to the website and the Veripay materials are owned, licensed to or controlled by us, our licensors or our service providers. We are entitled to insist on our intellectual property rights to the fullest extent possible by law.
Nothing on the website and in these Terms and Conditions shall be interpreted as granting, by implication, estoppel, or otherwise, any license or right to use (including, as a meta tag or as a ‘hot’ link to any other website) any trademarks displayed on our website without our written consent (or that of any other applicable trademark owner, as may be related).
8.3 Restricted Use
It is not allowed that any parts of the website and the Veripay materials are reproduced, reverse engineered, decompiled, disassembled, separated, altered, distributed, republished, displayed, broadcast, hyperlinked, mirrored, framed, transferred or transmitted in any manner or by any means or stored in an information retrieval system or installed on any server, system or equipment without receiving our prior written permission of the relevant copyright owners. Permission will only allow you to download, print, or use the Veripay materials for personal and non-commercial uses, as long as the Veripay materials are not altered and we or the relevant copyright owners retain all copyright and other proprietary rights included in the Veripay materials
8.4 Submissions by You
You consent to give us a non-exclusive license to use the materials or information that you provide us with, including but not limited to questions, reviews, comments, and suggestions. When posting commenting or reviewing on our website, you also allow us to use the name that you submit or your username related to such review, comment or other content. False e-mail address, pretence of being someone other than yourself or any other form of deceit regarding the origin of any of your submissions must be omitted. We are entitled to publish, remove or alter your submissions for any reason.
a. In order to be able check for your activity on our website cookies, small pieces of information, are placed on your computer.
1. 1. permit various functions and features on the website. This includes among other things remembrance of browsing preferences and other service preferences as well as of your username.
2. 2. administer services to you and to our advertisers.
3. 3. add to profiles of our website users.
4. 4. develop statistics about the use of the website.
5. 5. enhance the efficiency of the website.
10. Disclaimer and Limitation of Liability
Veripay does not possess control of any items you may purchase online using our website. Further, we cannot guarantee that online transactions will be realised by the other party. We disclaim all accountability for any goods or services offered for sale by its merchants and will not be liable for the delivery or the condition of any goods or services purchased from third parties.
10.2 Exclusion of Liability
Veripay and its indemnitees shall not be liable to you for any loss, cost, expense (including legal fees and expenses), damage, penalties or settlement sums whatsoever or howsoever caused (regardless of the form of action) arising directly or indirectly in connection to:
1. any access and use of the website or the services, or the inability thereof.
2. any system, server or connection failure, error, omission, interruption, delay in transmission, computer virus or other malicious, destructive or corrupting code, agent program or macros.
3. any use of or access to any other website via a hyperlink on our website, even if we or our officers or agents or employees may have been advised of, or otherwise might have anticipated, the possibility of the same.
4. reliance on any data or information made available through the website and/or through the services. We advise you to verify individually the contents before acting on such data or information.
10.3 No Representations or Warranties
The services, the website and the Veripay materials are provided on an ‘as is’ and ‘as available’ basis. All data and/or information contained in the website, the services or the Veripay materials are provided for informational purposes only. No representations or warranties of any kind, whether implied, express or statutory, including the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, are given in conjunction with the website, the services or the Veripay materials. Without prejudice to the generality of the foregoing, we do not guarantee:
1. that the website, the services or the Veripay materials do not contain any computer virus or other malicious, destructive or corrupting code, agent, program or macros.
2. that the website, the service and the Veripay materials are accurate, timeless, adequate or that the data and the information are complete.
3. that there will be no interruptions, errors or omissions on the website, the services or any of the Veripay materials. Further, we do not warrant that any identified defect will be corrected.
4. that the transfer of any information by you or to you via the website or the services is secure. You acknowledge the possibility that any information you transmit on the website or that is transmitted to you may be accessed by an unauthorised third party. Further, it may be possible that we or our officers, employees or agents leak out information about you or your customer account to third parties pretending to be you or pretending to have your permission. Transmissions over the internet and email may be subject to interruption, transmission blackout, delayed transmission because of internet traffic or incorrect data transmission due to the public nature of the internet.
10.4 At Your Own Risk
Any risk resulting from any misunderstanding, damage, expense, loss or error from the access or use of our website lies in your own responsibility.
11. Termination of Services
11.1 Termination by Us
We reserve the right to end your use of our website and services for any reason and to our sole discretion. In the event of termination of your account, we will notify you as soon as possible. Further, we reserve the right to disable your username and password with immediate effect. We also may deny you access to the website or the services for any reason and to our sole discretion. These reasons include, but not only, an infringement of these Terms and Conditions, no matter if only suspected or already proven. We are also entitled to terminate your use of our website and services, if we or any regulatory authority do not find the provision of services appropriate.
11.2 Termination by You
If you want to terminate your use of our services it is necessary to inform us in written form within a seven (7) day's notice. After receiving such a request to close your customer account, we will carry out the closure procedure according to the provisions set out in these Terms and Conditions.
12.1 Notices from Us
You agree that all notices or other communications from us are considered to have been given to you if:
1. sent by post or left at your last known address, received by you on the day following such posting or on the day when it was so left.
2. communicated through any print or electronic media as we may choose from time to time, will be considered to be handed to you on the date of publication or broadcast.
12.2 Notices from you
We are contactable via our email address (which may change from time to time) or our designated address. Upon receipt it is considered that we have received any notice from you. We try to respond to notices by our customers as soon as possible, nevertheless we cannot warrant that we will always respond with consistent speed.
12.3 Other modes of notifications
Notwithstanding clauses 12.1 and 12.2, it is possible that we designate from time to time other acceptable forms of giving notice (including but not limited to e-mail or other forms of electronic communication) and the time or event by which such notice shall be deemed given.
13. General Terms
13.1 Cumulative Rights and Remedies
Unless otherwise stated under these Terms and Conditions, the provisions of these Terms and Conditions and our rights and remedies under these Terms and Conditions are cumulative and are without prejudice and in addition to any rights or remedies we may have in law or in equity, and no exercise by us of any one right or remedy under these Terms and Conditions, or at law or in equity, shall (save to the extent, if any, provided expressly in these Terms and Conditions or at law or in equity) operate so as to hinder or prevent our exercise of any other such right or remedy at law or in equity.
13.2 No Waiver
If we should fail to enforce these Terms and Conditions, this shall not constitute a waiver of these Terms and Conditions. Such failure shall have no influence on our right to enforce these Terms and Conditions.
13.3 Rights of Third Parties
A person or entity who is not a party to these Terms and Conditions shall have no right under the legislation in any jurisdiction to enforce any term of these Terms and Conditions, regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description. For the avoidance of doubt, nothing in this clause shall affect the rights of any permitted assignee or transferee of these Terms and Conditions.
13.4 Governing Law
Use of the website, the services, and these Terms and Conditions shall be governed by and interpreted according to German law and you hereby submit to the exclusive jurisdiction of the German courts.
If any provision of these Terms and Conditions should become illegal, invalid or unenforceable any time in any respect, the legality, validity and enforceability of the remaining provisions of these Terms and Conditions shall not be influenced or impaired thereby. The remaining provisions shall continue in force as if such illegal, invalid or unenforceable provision was severed from these Terms and Conditions.
We reserve the right to modify these Terms and Conditions. We will notify you via the website or by any mode of notification we may designate (such as email for example). Any variation comes into effect on the date we indicate via the means mentioned above. If you use the website or the services after such date, you are deemed to have accepted such variation. If you do not accept the variation, you are advised to stop accessing or using the website and the services and, further, to end your use of the services. Our right to modify these Terms and Conditions as aforesaid may be conducted without the approval of any person or entity who is not a party to these Terms and Conditions.
13.7 Injunctive Relief
We may seek immediate injunctive relief if we make a good faith determination that an infringement or non-performance is such that a temporary restraining order or other immediate injunctive relief is an appropriate or adequate remedy.
In the event that these Terms and Conditions are enforced or translated in any language other than English, the English language version of these Terms and Conditions is considered to govern and shall take precedence over the Foreign Language Version.
13.9 Correction of Errors
Any typographical, clerical or other error or omission in any acceptance, invoice or other document on our part shall be subject to correction without any liability on our part.
13.10 Entire Agreement
These Terms and Conditions shall constitute the entire agreement between you and us relating to the subject matter hereof and supersedes and replaces in full all prior understandings, communications and agreements with respect to the subject matter hereof.
13.11 Sub-contracting and delegation
We reserve the right to entrust or sub-contract the performance of any of our functions or obligations relating to the website and the services to any service provider, subcontractor and/or agent on terms as we consider adequate.
13.12 Binding and Conclusive
You acknowledge and agree that any records (including documentation of any telephone conversations relating to the services, if any) maintained by us and/or our service providers concerning the website and/or Services shall be binding and conclusive on you for all purposes whatsoever and shall be conclusive evidence of any information and/or data transmitted between us and you. You hereby consent to the admissibility in evidence of such records and to the indisputable admissibility, reliability, accuracy or the authenticity of such records merely on the basis that such records are in electronic form or are the output of a computer system, and you hereby waive any of your rights, if any, to so object.
13.13 Force Majeure
We are not to be hold liable for non-performance, interruption, error or delay in the performance of its obligations under these Terms and Conditions (or any part thereof) or for any inaccuracy, unreliability or unsuitability of the website and services’contents if this is because of, in whole or partly, directly or indirectly an event or failure which is beyond our reasonable control.
You may not assign your rights under these Terms and Conditions without our prior written consent. We may assign our rights under these Terms and Conditions to any third party at our sole discretion.
Unless stated otherwise, the following expressions shall have meanings in these Terms and Conditions as follows:
“Business partners” means external third party vendors and merchants.
“Cashback funds” is clarified under clause 5 of these Terms and Conditions.
“Customer” means an authorised user of the website and/or the services.
“Customer account” is established under clause 3.1 of these Terms and Conditions.
“Foreign language version” is explained under clause 13.8 of these Terms and Conditions.
“... materials” means, in sum, all web pages on the website, including the information, software, applications, images, links, sounds, graphics, video and other materials presented or made available on the website, the functionalities and the services.
“Indemnitees” refers to ... respective officers, employees, directors, agents, contractors and assigns.
“Intellectual property” refers to all copyright,, utility innovations, trademarks, service marks, patents, geographical indications, domain names, rights protecting trade secrets and confidential information, rights protecting goodwill and reputation,l ayout design rights, registered designs, design rights, database rights, trade or business names, and all other similar or corresponding proprietary rights and all applications for the same, whether registered or not, whether presently existing or created in the future, anywhere in the world, and all benefits, privileges, rights to sue, recover damages and obtain relief or other remedies for any past, current or future infringement, misappropriation or violation of any of the foregoing rights.
“Personal data” refers to data which can be used to identify, contact or locate an individual. Personal data may contain your name, shipping address, e-mail address, billing address, phone number and credit card information. Personal data is considered as any data that you have given to us while using the services, irrespective of whether you have an account with us.
“Registration information” is clarified under clause 3.2 of these Terms and Conditions and may contain personal data.