TERMS AND CONDITIONS

This Terms and Conditions ("Agreement" or “Terms”) is an agreement between you and AIPAY and applies to your use of the AIPAY Software and any related products and services available through AIPAY (collectively, the "Service(s)"). If you do not agree to abide by the terms of this Agreement, do not use our Services.

Please read carefully, agree and accept all the terms and conditions contained in this Agreement and the Privacy Policy and other Policies contained on the website, which are an integral part of this Agreement, before you become a member of AIPAY.

You understand and agree that your access to and use of the AIPAY Service and its content is entirely at your own discretion and risk, and that you will be solely responsible for any loss or damage that may arise from such access and use.

The following definitions will apply here:

"you" or "your" means any natural person or entity using the Service ("Client"), unless otherwise stated herein. "AIPAY", "we", "our", "Partners" or "our" together will refer to AIPAY and its subsidiaries, Partners, unless otherwise stated.

1. AIPAY SERVICES

1.1. AIPAY LTD (“AIPAY”) is a payment gateway and may also collaborate with Partners - financial companies, banks and other financial institutions (hereinafter - Partners), to achieve their goals and provide services. AIPAY provides software and information technology services for processing online payments, receiving and sending payments.

1.2. The list of Services includes, but is not limited to:

- providing technical support to you and your customers;

- providing access to monitoring and transaction management tools;

- providing technical support for creating accounts;

- advising and providing information and technical support in the event of malfunctions, operational errors and technical failures that impede the normal functioning of the Service.

2. USE OF SERVICES

2.1. In order to use the Service, you must register for an account. Clients can only have one account. Our Services are available only to individuals or legal entities that may enter into legally binding contracts in accordance with applicable law. Without limiting the foregoing, our Service is available to persons over 18 years of age) with full legal capacity.

2.2. AIPAY provides the Service to you solely for your personal use. Subject to your consent and compliance with these Terms, we grant you a personal, non-commercial, revocable, non-exclusive, non-sublicensable and non-assignable right to use the AIPAY Service, the Website and its contents for your personal use only and always in full compliance with the Terms and applicable law.

2.3. The use of the Service, which is contrary to these Terms, will be considered a violation of these Terms that may lead to respective consequences for you.

3. LEGAL RELATIONSHIP

3.1. AIPAY, through cooperation with Partners, helps you accept payments and make payments to third parties by providing information and maintenance software for online payment processing. Partners act as your agent based on your instructions and your requests to use our Services, which require us to perform tasks on your behalf.

3.2. You acknowledge that AIPAY is a payment gateway and our Partners provide payment processing services. The Partner does not act as a proxy for your funds, but acts only as agent and custodian. You agree that you will not receive interest or other income from funds that our Partners process as your agent.

3.3. By initiating and sending payments through the Service AIPAY, or by adding funds to your balance, you appoint our Partners as your agent to receive funds on your behalf and to make payments to the recipient whom you appoint or to a pooled account, subject to the terms and limitations of this Agreement. When you send a payment until that payment is accepted by the recipient (which may happen instantly), you will remain the owner of those funds and our Partners will retain those funds as your agent, but you will not be able to withdraw those funds or send funds to any other recipient unless the original transaction has been cancelled. When you receive payments using the Service AIPAY, you designate our Partners as your agent who holds your funds on your behalf in a pooled account until you instruct the Partner to transfer your funds. Through the AIPAY website, you may provide instructions for withdrawing funds or making payments to third parties, in each case in accordance with the terms and limits of this Agreement.

Chargeback

3.4. AIPAY is a gateway, and our Partners act as a provider of payment services. If you choose an upload method using a payment instrument that may be subject to a refund right, you declare that you will not exercise such a chargeback right except for the unauthorised use of the payment instrument or for a breach of these Terms, as a result of which you are entitled to a refund of the uploaded amount. You may not revoke any transaction or make a chargeback of any transaction for reasons for which AIPAY is not responsible, including (but not limited to) disputes with merchants for non-delivery of goods or services or insufficient balance in the payment instrument account. We reserve the right to charge you fees and expenses we incur in connection with such chargeback and any actions taken to challenge them. We may also charge you a chargeback fee.

3.5. Chargebacks are strictly limited to one percent (1%) of the total amount of transactions that have been processed by Partners of the AIPAY account within one (1) month. Anything in excess of this rate is excessive and will result in penalties and a reason for AIPAY and its Partners to terminate this Agreement and close your account with funds held within five hundred forty (540) days of the last transaction. At the end of this time, your account balance will be refunded less refunds, penalties, service fees and any other fees. You further agree that it is strictly prohibited to offer, imply, advertise, promote, advise or communicate to any of your customers a "chargeback" or "refund" for the goods or services you offer. You agree and give AIPAY, its Partners the right to automatically deduct from your account the amount of potential losses that AIPAY may incur. The Partners may keep funds as a reserve until it is determined that your account is protected and no losses are incurred as a result of this.

Know-Your-Client (KYC)

3.6. You confirm that you give your permission and consent to AIPAY to have KYC verified by third parties (our KYC Providers) who in turn use such data solely for verification purposes and in accordance with GDPR policy.

Prohibited Activities

3.7. It is forbidden to use the AIPAY services if your activity is involved in activities related to drugs, weapons, child pornography, promotes hatred and/or racial, ethnic, sexual, religious or social discrimination or is offensive to any person and/or organisation; violates the rights of third parties, including minors, and / or causes harm in any way. The information provided by you, as well as your actions performed through the Service AIPAY and our Partners may not be false, inaccurate or misleading; may not be fraudulent or related to the sale of counterfeit or stolen items; may not infringe the copyright, patent, trademark, trade secret or other proprietary rights or rights to the publicity or confidentiality of any third party; may not violate any laws, statutes, regulations, contracts or regulations (including, but not limited to, those of the following). The above list of activities is not exhaustive. AIPAY reserves the right to refuse to cooperate with you, as well as to terminate your cooperation if we consider it necessary, without giving reasons.

3.8. Please note that the losses incurred by AIPAY as a result of the conduct described in paragraph 3.7. shall be considered as a material breach of these Terms, and you will be imposed with (without limitation) fines and other related costs from payment systems and service providers, Partners. In the event that you engage in such conduct, AIPAY may fine you up to USD 50,000 and/or AIPAY may sue you for damages exceeding the amount of the fine.

Payment conditions

3.9. When connecting, you are required to agree on the resource from which payment acceptance will be made. Acceptance of payments from an unproved resource gives us the opportunity to stop cooperation with you. You confirm to use the service AIPAY, as well as services of our Partners only for the intended purpose. In case of detection of this violation AIPAY has the right to refuse to cooperate with you, as well as to terminate the cooperation, if it deems necessary, without giving any reasons.

3.10. AIPAY through its Partners may restrict the withdrawal of funds and require you to provide additional information depending on your location, the goods sold, the police request, a large number of complaints, the availability of refunds / payments and other factors.

3.11. AIPAY through our Partners may limit the transfer and or sending of funds and require you to provide additional information depending on your location, the goods sold, a police request, a large number of complaints, the presence of refunds / payments and other factors. In case of withdrawal of a payment that has been sent by our Partners will return such payment to you within 30 days after the date of sending the payment.

Termination of Using Services

3.12. You can stop using the AIPAY Service and the services provided by our Partners at any time by sending a request for our support [email protected]. Any funds that our Partners hold and process for you at the time of account closure, less any applicable fees, will be paid to you, provided that all authentication requirements related to the withdrawal of funds are met (e.g. you cannot use the closure of your account). In addition, you may not use the closure of your account as a means of evading an investigation - if the investigation is not yet complete when you close your account. If you subsequently determine that you are entitled to some or all of the disputed funds, our Partners will provide you with those funds. You will be responsible for all obligations related to your account, even after it has been closed. After the date of account closure, we will use the information provided by you so that our Partners can send you any funds they hold and process for you.

4. AIPAY’S Rights

4.1. Without limitation of other legal remedies AIPAY and/or our Partners have the right:

- to update inaccurate or incorrect information provided by you;

- block funds in your account;

- disable payment methods, in particular cards;

- set up a holding, roller reserve, if we consider it necessary for a period of time that we consider necessary;

- restrict deposit and withdrawal sources;

- to demand that you pay the full fine that we received in connection with the provision of the AIPAY Service to you;

- restrict access to your account and to any or all account features (including, but not limited to, the ability to send money or withdraw funds from your account);

- restrict withdrawals, suspend or close your account for an indefinite period of time, and refuse to provide you with our Services;

- set a chargeback fee, at your own discretion;

- request the documents necessary to contest a chargeback and refuse to contest you if the documents received are insufficient.

4.2. AIPAY has the right to request data about the payer, his verification documents, additional information on the transaction, data on the provision of services, and other data that is necessary not only to dispute financial claims, but also to carry out fraud and AML monitoring.

5. INTELLECTUAL PROPERTY RIGHTS

5.1. AIPAY and all relevant logos, products and services described on this website are trademarks or registered trademarks of AIPAY, or its licensors, and (except as described below) may not be copied, imitated or used in whole or in part without the prior written permission of AIPAY. In addition, all page titles, user graphics, button icons and scripts are service marks, trademarks and/or trade names AIPAY and may not be copied, imitated or used, in whole or in part, without the prior written permission of AIPAY.

5.2. These Logos may not be modified or used in any way that offends AIPAY or the Service. The Logos may not be used in any way that implies sponsorship or endorsement by AIPAY. No partnership, joint venture, employee-employer or franchisor-franchisee is intended in this Agreement.

5. DISCLAIMER OF WARRANTIES AND LIABILITIES

5.1. AIPAY makes no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information, materials, or content provided on this website. ALL INFORMATION, MATERIALS, AND CONTENT ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY OF ANY KIND, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, TITLE OR NON-INFRINGEMENT. AIPAY MAKES NO WARRANTY OR REPRESENTATION REGARDING THE ACCESSIBILITY OF THIS WEB SITE.

5.2. TO THE EXTENT PERMITTED BY APPLICABLE LAW, AIPAY DOES NOT ACCEPT LIABILITY FOR DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL, EXEMPLARY, PUNITIVE OR OTHER LOSSES OR DAMAGES OF ANY KIND, INCLUDING WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF DATA OR PROGRAMS OR OTHERWISE.

6. GENERAL PROVISIONS

Transfer

6.1. AIPAY shall be entitled, at any time, to assign, novate or otherwise transfer the Agreement to its Affiliate, without your prior consent by providing written notice to you about such transfer.

Null provisions

6.2. In the event that any provision in the Terms is declared null and void or inapplicable, said provision shall be deemed non-existent, and all other provisions of the Terms shall remain applicable. The parties undertake to take all steps to eliminate the provision declared null and void and/or inapplicable and to replace the same with a provision approaching, insofar as possible, the economic objective of the provision declared null and/or inapplicable.

Change of Terms

6.3. AIPAY may revise the Terms from time to time by giving at least 30 days’ written notice to the Client via email or a written notice. Except as stated below, all modified terms and conditions will take effect 1 day after they are initially posted on our website.

6.4. You have the right to terminate this Agreement with AIPAY if you do not agree with any changes. By continuing to use the AIPAY Services, you accept the changes.

6.5. You are not entitled to object to and shall not have the rights set out in this clause for any change which AIPAY implements in order to comply with applicable law or requirements imposed by the relevant Acquirers and/or Payment Institutions.

7. Notification

7.1. A notice is deemed to have been sent 24 hours after publication or dispatch of an e-mail if the sending party does not know that the e-mail has not been received. In addition, we may send you a notice by mail to the address specified in the registration process. In this case, the notice will be deemed to have been sent 3 days after the sending date.

8. LEGAL DISPUTES

8.1. In the event of a dispute between you and AIPAY, our aim is to provide you with a neutral and cost-effective means of resolving the dispute quickly. Accordingly, you and AIPAY agree that any dispute or claim arising out of this Agreement or AIPAY 's Services (the "Claims") shall be resolved in accordance with one of the subsections below or otherwise mutually agreed to in writing by the parties. Before resorting to these alternatives, AIPAY strongly recommends that users first contact AIPAY directly to find a solution. AIPAY will consider requests for dispute resolution through alternative dispute resolution procedures, such as mediation, as an alternative to litigation.

Arbitrage

8.2. For any Claim (excluding Injunctive relief or other legal action), if the total amount of compensation requested is less than USD 25,000, you or AIPAY may choose to resolve the dispute through binding arbitration by online and/or written submission when no personal presence is required. In such cases AIPAY reserves the right to choose arbitration.

Court

8.3. Alternatively, any claim may be heard by a court of competent jurisdiction located in the United Kingdom. You and AIPAY agree to submit to the jurisdiction of the courts located in the United Kingdom.

9. APPLICABLE LAW AND JURISDICTION

9.1. The Terms are solely governed by the law of England and Wels. In the absence of an amicable agreement, any dispute relating to the validity, interpretation or fulfilment of the Agreement shall be submitted to the exclusive jurisdiction of the competent courts of United Kingdom.

For more information about the Service, please refer to the AIPAY Support section or contact us.