Pay369 terms of use
The capitalised terms in these Terms of Use, and any and all Associated Documents forming an integral part of these Terms of Use, shall have the meaning set out therein, and the following words and expressions shall have the following meanings:
«Account» or «Personal Account» means the personalized section of the Platform closed for public access. Personal Account is accessed by entering authentication details on the Platform login interface (for iOS and Android versions) or login web page (for web version): login (Username) and password (access code).
«Affiliate» means any entity which is directly or indirectly controlled by, or which controls or which is under common control with another entity or individual;
«Approved Access Control» means (i) requiring that an Authorized User is logged into his / her / its Account prior to receiving access to the functionality of the Operator’s Service and the Platform, (ii) requiring that a specific device is associated with an Authorized User’s Account (e.g., through the use of a unique device identifier and dynamic identification) prior to receiving access to the functionality of the Operator’s Service, or (iii) any other access control technique or technology that is used by the Operator’s Service and corresponds to best market practices and standards, meaning it must be on par with a similar access control technique or technology implemented by at least one major CEX (now or in future) or at least one online platform that is a direct or indirect competitor of the Operator’s Service;
«Approved Account Verification«means the standards for User identity verification and approval of the associated Account with consideration to the applicable legal requirements for KYC and AML / CFT policies, compliance with all applicable Sanctions, and Territory-specific restrictions;
«Approved Personal Data Provider» means a Third-Party Service Provider that is a reputable company with the high level of expertise and proven security systems in the field of outsource services for personal data collection, storage, processing and anonymization, User identification, and performing KYC, AML/CFT, Sanctions compliance and general compliance background checks;
«Approved Geo-Filtering Technique» means (i) use of an IP address look-up or similar technology that is designed to determine whether a User’s IP address is within the Territory prior to accessing the Operator’s Service and associated Apps and Websites and the blocking of access to such Users if the IP address look-up technology indicates that the User’s IP address is not allowed within the Territory and, subsequently, that User is not eligible for registration of an Account as an Authorized User, and/or (ii) any geo-filtering technique intended to enforce territorial restrictions and ensuring that the Operator’s Service is at all times accessed and used solely by Authorized Users within the Territory that is authorized for use on the Operator’s Service by the Licensor or implemented by at least one major player in the market;
«Apps» mean, collectively, the iOS / Android OS applications published by the Licensor on the Effective Date or in future, allowing access to the particular functionality of the Operator’s Service for Users and Authorized Users;
«Authorized User» means the User being either (a) an Individual User or (a) a Swap Desk Operator registered with the Platform that (i) duly registered the Account, (ii) passed the required Approved Access Control procedures, including KYC, AML and Sanctions compliance checks, (iii) accepted all agreements and terms and conditions associated with the Platform, and (iv) authorized to use the full functionality of the Operator’s Service and Platform in the Territory;
«Pay369» (the «Platform«) means the technological Platform based on the Software as it is defined herein, consisting of the following online resources developed and managed by the Licensor: (i) Platform’s website available online over the Internet via URL www.pay369.tech and (ii) the interactive application for the iOS and/or Android mobile platform(s) available via the official Apple Inc.’s App Store and/or Google’s Google Play application store(s) if such application was released by the Licensor on the Effective Date of these Terms of Use. For the purposes of these Terms of Use the term «Platform» includes but is not limited to the Pay369 itself, underlying Software and software code, solutions, programs, algorithms, databases and hardware, all content available on or by means of the Platform, all Platform design elements and all of the interactive Platforms and functionality provided on or through the Platform, and any and all other elements, components and parts of the Platform without any limitation.
«Billing System» means a billing system of the Operator’s Service accessible to both the Operator and the Licensor, designed and designated for accounting of (i) instances of use of the Operator’s Service by Individual Users, (ii) Transactions made via the Operator’s Service, and (iii) accounting of Royalties;
«CEX«mean, collectively, centralized exchanges operated by TPSPs as they are defined herein;
«DApps» mean, collectively, decentralized applications operated by TPSPs, access to which may be available on the Platform from time to time;
«Digital Assets» mean, collectively, cryptographic tokens, cryptocurrencies, non-fungible, virtual commodities and other assets that may be defined as «virtual assets», «cryptographic assets» and «digital assets» which may be offered for exchanging by Swap Desks Listed on the Platform;
«Event of Force Majeure («EFM«) means an event beyond the reasonable control of any Party, including without limitation: acts of God; flood; fire; lightning; explosion; accident; riot; civil strife; war; rebellion; enemy acts; strikes; satellite or other technical failure; breakdown in law and order, the operation of any directive or regulation of government;
«Government License(s)» mean, collectively, any licenses, permits, permissions and consents necessary under the laws in force in the Territory for the legally compliant launch and maintenance of Operator’s Service by the Operator in accordance with these Terms of Use;
«Individual User» means any private individual that has attained, under the applicable law or the law of his / her fixed abode, age of legal capacity to adhere to and to be sued under the Platform’s Terms of Use.
«Internet» means the world wide web and the delivery by way of the worldwide matrix of interconnecting computers known as the «internet»;
«Listing» means integration / listing of the Operator’s Service on the Platform upon (i) the SDO successfully passing the KYC and AML checks required for listing of the Operator’s Service on the Platform, and (ii) successful completion of check of compliance with the Swap Desk Listing Policy by the SD, the Website, and the SDO;
«Operator’s Service«means the Operator’s online service(s) being the Swap Desk(s) available via the Licensor’s Platform;
«Security Breach» means a circumvention or failure of any Approved Access Control and/or Approved Personal Data Provider or claims of supervisory authorities or affected Users which may involve the Licensor, the Operator, the Platform or the Operator’s Service;
«Software» means the complex software solution designed and designated specifically for the Platform. Integration of the Software with the Operator’s Service will allow the Operator to launch and operate its Swap Desk and list it on / integrate it into the Platform (perform the Listing), which, subject to all compulsory compliance requirements outlined in these Terms of Use and any applicable law, is further referred to as the «Operator’s Service«.
«Swap Desk» («SD«) means an interactive swap desk operated by a SDO, designated for providing Individual Users via Platform functionality with information on potential deals on swapping (exchanging) Digital Assets, including but not limited to swapping (exchanging) virtual (digital) currencies for fiat currencies and other virtual (digital) currencies and Digital Assets, that performs such swapping (exchanging) of virtual (digital) currencies for fiat currencies on a regular basis;
«Swap Desk Operator» («SDO«) means an individual, individual entrepreneur or a duly incorporated legal entity that operates the SD and uses the Platform’s functionality to List the SD and display information about such SD and offer that SD’s services to Individual Users;
«Terms of Use» mean these Terms of Use, including all Associated Documents, any annexes and/or appendices hereto, as amended, supplemented or updated from time to time;
«Third-Party Resources» mean, collectively, any and all online websites, platforms and applications, including but not limited to CEX and DApps as they are defined herein, that are provided, operated and controlled by third parties (including TPSPs) unaffiliated with the Licensor and Operator, its subsidiaries, Affiliates, officers or employees, which can be accessed and interacted with using the Platform’s functionality;
«Third-Party Service Providers» («TPSPs«) mean, collectively, any and all third parties unrelated to and unaffiliated with the Licensor and Operator, its subsidiaries and Affiliates that are actual operators of Third-Party Resources that are available on the Platform or in the Operator’s Service, such as CEX and DApps. TPSPs also include, but are not limited to, (i) the Platform’s KYC, AML, and other compliance due diligence service providers such as the Authorized Personal Data Provider, and (ii) third-party payment service providers (PSPs) allowing Users to perform Transactions in fiat currencies or cryptocurrencies via the Operators Services (i.e. Swap Desk).
«Transaction» means the act of transacting or the fact of any Digital Asset and/or other items, fiat currency or other assets or items being transacted from one Authorized User to another via the Operator’s Service (Swap Desk) both on or outside the Platform, including Transactions directly between Swap Desks and Individual Users;
«User» means any individual, company, corporation, partnership, or other legal entity that wishes to become an Authorized User of the Platform as an Individual User and/or Operator of the Operator’s Service;
«Website» means the website(s) related to the Operator’s Service, owned and operated by the Operator and branded with the Operator Brand;
References to Clauses, Sections, Schedules and Appendices are (unless expressly stated to the contrary) to clauses and sections of and schedules and appendices to these Terms of Use.