General Terms & Conditions of
The General Terms and Conditions of Services (hereinafter the “General Terms and Conditions”) set out the terms and conditions governing subscriptions for the services offered by the PayTop payment institution. The General Terms and Conditions can be viewed at any time on the Application. Customers may view them at any time, reproduce them, store them on their computer or on another medium, transfer them by email or print them in paper format for safekeeping. A copy will also be sent by post, free of charge, to the Customer’s address upon written request to the Customer Service department.
Customers are encouraged to read the General Terms and Conditions carefully before accepting them.
1.1. The Customer Service department is at Customers’ disposal to ensure full comprehension and offer the quality of service expected. Customer Service is available Monday to Friday from 9.30 a.m. to 6 p.m. (France Time) at +33 (0) 1 40 51 02 96 or at the following email address: firstname.lastname@example.org
Title I. Payment Services Framework Contract
Title II. Special Terms and Conditions of the Funds Transfer Service
Title III: Schedule of Fees and Charges
Payment Services Framework Contract
Easy Link Remittance Pvt. Ltd. is the First Remittance Company in Nepal. Incorporated in 1999 (2056/06/18 B.S.) and is licensed to provide money transfer service from the Nepal Rastra Bank (Central Bank of Nepal).
Easylink Remittance has joined forces with PayTop to enable its customers to take advantage of these services from the European Union. PayTop has experience and expertise in the distribution of this type of service as a white-label service.
In consequence of the foregoing, this Payment Services Framework Contract is entered into between:
the Customer, who is a natural person who resides in a European Union Member State or a European Economic Area State, and who acts on his/her own behalf for non business purposes, hereinafter the “Customer”, party of the first part, and PayTop S.A.S, which has share capital of €4 509 962,50 euros whose registered office is at 5 rue de la Baume, 75008 [Paris], which is registered in the Paris Trade and Companies Register under number 487 568 446, and which is authorised as a payment institution under number 16 408 and is supervised by the ACPR, whose address is 4 place de Budapest, CS 92459, 75436 Paris Cedex 09 (http://www.acpr.banque france.fr/accueil.html). This authorisation is available for review in the public register at the following address: https://regafi.fr. PayTop’s website can be accessed at the following address: http://www.paytop.com hereinafter the “Institution”, party of the second part. Hereinafter referred to jointly as the “Parties”.
1. Description of the payment services
The Institution may execute the following Payment Transactions on behalf of the Customer:
• Funds transfers in euros and foreign currencies
• Credit transfers linked to a Payment Account in euros or foreign currency
The Institution provides other Payment Services which result in funds being credited to the Account, such as the acquisition of credit transfer orders.
Opening an Account for the Customer will be conditional on the availability of the service in the Application.
The Account opened in the Customer’s name is not a bank account. The Account will not generate interest and no overdraft on the Account will be authorised.
The Payment Services are provided in consideration for the Customer’s payment of the fees agreed in Clause 3 hereof and in the Schedule of Fees and Charges set out in Title III. The Institution does not accept deposits of cash or cheques and does not offer any payment services other than those specifically described in this Framework Contract.
Authentication: The authentication procedures carried out by the Institution to ensure that the Customer uses payment instruments solely for the purpose of carrying out Payment Transactions.
Payee: A legal or natural person designated as the recipient of a Payment Transaction.
Card: A payment card, within the meaning of Article 2(15) of Regulation (EU) 2015/751 of the European Parliament and of the Council of 29 April 2015 on interchange fees for card-based payment transactions, that the Customer holds and that is issued by a credit or payment institution established in a European Union Member State or a European Economic Area State. Cards must be issued by one of the following networks: Visa, MasterCard, CB.
Customer: A natural person who accepts the General Terms and Conditions in order to subscribe to the Payment Services offered.
Payment Account or Account: A payment account held in the name of a Customer that is used to execute Payment Transactions linked to that Account. Transactions may be credited to the Account, i.e. money is added to the Account balance, or debited from the Account, i.e. the Customer spends the available money on the Account.
Special Terms and Conditions: The specific terms and conditions applicable to the funds transfer services the Institution offers to the Customer, which are set out in Title II hereof. Whenever the Customer subscribes to a new service, he/she must accept these General Terms and Conditions.
Schedule of Fees and Charges: The document appended hereto in Title III, which is updated regularly and the latest version of which is also available on the Application.
Framework Contract or Contract: The Payment Services Framework Contract entered into between the Customer and the Institution, which governs use of the services offered.
Personalised Security Credentials: The personalised credentials the Institution provides to the Customer for authentication purposes.
Issuer: A credit or payment institution that issues the Card and that is authorized by an authority established in a European Union Member State or a European Economic Area State.
Personal Space: The page on the Application dedicated to the Customer that may be accessed using a username and password, which provides access to information about the Payment Services provided to the Customer.
Institution: PayTop, a simplified limited company (SAS) with share capital of €4 509 962,50, whose registered office is at 5 Rue de la Baume 75008 [Paris], and which is registered in the Paris Trade and Companies Register under number 487 568 446.
Business Day: A day on which the Institution or the third-party payment service provider of the Customer or the Payee carries out an activity enabling the execution of payment transactions.
Payment Transaction: A transaction ordered by the Customer and executed by the Institution that may result in a credit transfer to a Payee’s bank account, a funds transfer or a credit transfer to a Payee’s electronic money account.
Payment Order or Order: A payment instruction given by the Customer to the Institution for the purpose of carrying out a Payment Transaction.
Available Balance: The credit balance on the Account that is available for the execution of a Payment Transaction.
Statement: The form and statement showing Payment Transactions debited and credited to the Account.
Customer Service: The Customer Service department’s contact details are:
• telephone: +33 (0) 1 40 51 02 96
• email: email@example.com
• postal address: PayTop, Service Clients (Customer Service), 5 Rue de la Baume, 75008 Paris
Payment Service: The execution of a Payment Transaction, which may be associated with an ancillary currency conversion service, and the acquisition of a Payment Order by credit transfer, in accordance with Clause 1 of this Contract.
In consideration for the Payment Services performed, the Customer shall pay the Institution the fees agreed in the Schedule of Fees and Charges set out in Title III.
A simulation is available for each Payment Transaction before the Payment Order is issued, which informs the Customer of any transfer fees, foreign exchange fees and value added tax applicable to the Payment Transaction.
If a Payment Order is revoked additional fees may be incurred, which will be indicated in advance to the Customer.
4. Payment Services subscription procedures
To subscribe to the Payment Services, the applicant must confirm that he/she has capacity, is over 18 years of age and is not acting in connection with his/her business activity. He/she must select the Payment Services to which he/she wishes to subscribe. The Customer represents that he/she is acting on his/her own behalf and undertakes to use the Payment Services in good faith, for lawful purposes only, and in accordance with the provisions of the Framework Contract. He/she represents that he/she is a resident of a European Union Member State or a European Economic Area State.
The Customer represents that all information and documents provided for identification purposes are accurate and up to date. He/she shall notify the Institution via his/her Personal Space of any changes concerning his/her information and documents.
4.2 Identification of the Customer
All Payment Services subscriptions require that the Customer input the items requested online in the Application, such as:
• a selfie (photographic self-portrait)
• Verification of valid official identity document
• Electronic signature
The Institution reserves the right to make subscription to the Payment Services and/or the opening of the Payment Account conditional on receipt of any other document it deems necessary to meet its anti-money laundering and counter-terrorism financing obligations.
4.3 Activation of Payment Services
The Customer must make a first payment either from or to an account opened in the Customer’s name with a credit or payment institution established in a European Union Member State, a European Economic Area State or a third country considered to impose anti-money laundering and counter-terrorism financing obligations equivalent to those under French law.
4.4 Registration of a Card
The Customer may register one or more Cards for funds transfers by opting online to store the details of the Card(s). To confirm each subsequent Payment Order, the Customer must enter the Card’s security code.
The Institution may refuse to register the Card or cancel the Card details stored at any time for security reasons. In such case, the Customer must enter his/her Card’s number at each subsequent use.
The Customer is hereby informed that the Institution sets funds transfer limits that may be more restrictive than the Issuer’s limits.
4.5 Acceptance of the Framework Contract
The Customer must accept the Framework Contract in order for the Account to be opened and/or services to be provided.
For this purpose, during the subscription process, the Customer will be required to check the box provided. The Parties acknowledge that this signature will have the same value as a handwritten signature. The Framework Contract will be deemed to have been entered into as from its acceptance by both Parties.
4.6 Procedure for acceptance of a Customer by the Institution
Any incomplete file will be automatically rejected by the Institution. The Institution may, at its own discretion, refuse any request to open an Account and subscribe to a Payment Service. This reasoned decision shall in no event confer the right to damages. It will be notified by email to the applicant, who will be notified by any means of the Institution’s acceptance or refusal of his/her application for subscription to the Services.
5. Provision of Payment Services
5.1 Payment Services provided by the Institution at the Customer’s request
Depending on the Customer’s choice when accepting the Framework Contract, the Institution may:
I. Open and maintain a Payment Account in the Customer’s name, execute Payment Transactions linked to such Account, and provide currency conversion services associated with such Payment Transactions; and/or
II. Provide Funds Transfer Services; and/or
III.Credit the funds transferred by Card or credit transfer to the Account, in accordance with the terms and conditions set out herein.
Opening an Account for the Customer will be conditional on the availability of the service in the Application.
The Customer may change its choice at any time by accepting the Special Terms and Conditions applicable to the Service chosen, subject to the Institution’s acceptance, which will be notified to him/her by any means.
5.2 Specific terms and conditions for credit transfers • Execution of credit transfers
In order for the Institution to execute a transfer, the Customer must ensure that his/her Account has sufficient available funds, including the amount necessary to cover the fees set out in Title III. Otherwise, the transfer will be rejected.
If the Account has sufficient available funds, the Customer can issue a credit transfer payment order via his/her Personal Space by logging on to the Application using his/her Personalised Security Credentials. The credit transfer may be made to a bank account registered beforehand by providing a bank account details form to the Institution; or to a Payee’s account with a third-party payment service provider located within the SEPA area; or to a Payee’s account with a third-party payment service provider located outside the SEPA area; or to a partner branch to enable a Payee to make a cash withdrawal.
The Customer must confirm his/her irrevocable consent by clicking on the corresponding button at the end of the payment process after the required information has been entered and the summary confirmed, in accordance with the associated personalised security system to guarantee the security of the Payment Transaction.
For credit transfers to a Payee, the Customer must provide the following information: the country of destination, the bank that holds the receiving account, the IBAN of the receiving account, the first and last names of the Payee, the telephone number of the Payee, the currency, the amount of the payment, the origin of the funds, and the reason for the credit transfer.
The Institution is not responsible for the information provided by the Customer, particularly with regard to the Payee designated by the unique identifier. If the unique identifier for the Payee provided by the Customer is inaccurate, the Institution will not be liable for the incorrect execution of the Payment Transaction. However, the Institution will endeavour to recover the funds involved in the Payment Transaction. If the Institution is unable to recover the funds involved in the payment transaction, it will provide the Customer, at his/her request, with the information it holds that may be used as evidence in a legal action to recover the funds. If applicable, the Customer may be charged for recovery costs.
When consent has been given, the Institution will confirm receipt of the Payment Order and execute the credit transfer transaction no later than one Business Day from the date the credit transfer order is received if it is denominated in euros.
The Customer may receive a notice on his/her Personal Space informing him/her that the Institution has refused to execute the Payment Order. The Institution may refuse to execute a transfer in the event of serious suspicion of fraudulent use of the Payment Account, unauthorised use of the Payment Account, breach of the security of the Payment Account, asset-freezing measures imposed by an administrative authority, or any other reason. The Institution will inform the Customer as soon as possible and will indicate the reason if permitted by law.
• Acceptance of a credit transfer transaction
The Customer’s Payment Account enables credit transfers in euros to be received and credited to the Account. The funds will be credited to the Account no later than the end of the Business Day on which the Institution receives the funds or after completion of the conversion operation for funds received in a currency other than the euro. The Statement of transactions will show the amount of the transfer order accepted on the Account, the date, time, transaction number and name of the obligor. The Institution will debit from the Account the amount received by credit transfer if it was issued or credited in error.
• Payment initiation (Article L314-1(II)(7°))
The Institution does not provide payment initiation services. However, the Customer may obtain this service through another payment service provider. The Institution is not responsible for the terms and conditions applicable to such service. In any event, the Account must have sufficient funds to carry out such payment transaction.
The Institution may refuse to carry out a credit transfer transaction initiated if it suspects fraudulent use of the Account by the third-party payment service provider.
5.3 Specific terms and conditions for credit transfers using a Card
To confirm each Payment Order, the Customer must enter the security code of the Card registered in his/her Personal Space when he/she subscribed to the Payment Services. If the Institution refuses to register the Card or cancels the Card details stored for security reasons, the Customer must enter his/her Card’s number at each subsequent use. The first transfer will be made securely in 3-D Secure mode. The Institution may require a new 3- D Secure procedure for each transaction.
The Special Terms and Conditions for the Funds Transfer Service are set out in Title II hereof.
5.4 Currency conversion
The Customer authorises the Institution to carry out a currency conversion for Payment Transactions he/she initiates if he/she requests the Institution to execute a Payment Transaction in a currency other than that of the Payment Account, or if the Customer is the Payee of a credit transfer, direct debit or payment by Card in a currency other than that of his/her Payment Account. The Institution may appoint an Ecobank group subsidiary to carry out the currency conversion.
Currency conversion transactions will be carried out on the basis of the purchase or sale price of the relevant currency on the day the funds are received, or the Payment Order is issued, provided this occurs before the cut-off time and, otherwise, on the following Business Day.
The Customer acknowledges that foreign exchange or service fees may be charged in accordance with the applicable Schedule of Fees and Charges. He/she agrees to bear the currency risk due to fluctuations in the exchange rate of the relevant currency
6. Access and secure use of the Services
The Institution will provide the Customer with Personalised Security Credentials in the form of a username and password for logging on to his/her Account. The Personalised Security Credentials are personal and confidential and are used to authenticate the Customer at the time of each Payment Transaction carried out.
The Customer’s username is his/her personal email address. His/her password will be sent to him/her by SMS on the day the subscription is validated. This username and password enable the Customer to access his/her Personal Space on the Application and access his/her Account and the statements of Payment Transactions carried out. The Customer may change his/her username or password at any time via his/her Personal Space. He/she is advised to change his/her password regularly.
For any given Payment Transaction, the Customer may be asked to enter a unique confidential code sent by SMS to the telephone number he/she has provided. The Customer will have three attempts to enter the code. To ensure the continuity of the Services, the Customer shall inform the Institution of any change in his/her telephone number or interruption of telephone service (theft of the telephone).
The Customer is responsible for safeguarding his/her Personalised Security Credentials. He/she shall not disclose them to any unauthorised third party. The Customer shall inform the Institution of any disclosure or theft of the Personalised Security Credentials of which he/she becomes aware.
The payment procedure associated with the Personalised Security Credentials set out above has the same value as an electronic signature of the Customer enabling him/her to be identified and proving his/her consent.
The Institution may block access to the Account by any service provider offering initiation and information services on the Account if it has good reason to suspect a risk to the security of the Account.
7. Payment Services reporting
A Statement of Payment Transactions executed by the Institution is provided to the Customer in his/her Personal Space to facilitate the monitoring of his/her Payment Transactions.
The Customer is advised to retain the Transaction Statements for use in the event of a dispute and to regularly check the information provided in the statements. Statements remain available for viewing for two (2) years, plus the year in progress. However, the Customer is advised to regularly print his/her Statements.
Nevertheless, earlier transactions can still be viewed by submitting a request to Customer Service. The Institution will keep records and documents of Payment Transactions on electronic storage media during the applicable regulatory periods.
Each year, a summary statement of fees will be sent to the Customer if he/she has paid fees, unless he/she expressly requests that it be provided in his/her Personal Space.
The Customer must carefully review all Statements in order to regularly monitor his/her Payment Account and the Payment Services in general. Any failure to do so may constitute negligence on his/her part. The Customer shall inform the Institution in writing of any anomaly or error as soon as the Statement is received or made available. He/she will be deemed to have approved a Statement within two months from the date it is received or made available, without prejudice to any legal recourse he/she may have under the statutes or regulations. In the event of a complaint, Customers must comply with Clause 17 hereof.
8. Security instructions, stopping payment and blocking Payment Services
The Customer shall keep secret the username and password required to access his/her Personal Space. In the event of unauthorized use by a third party, the Customer will bear the losses due to fraudulent actions on his/her part, gross negligence or an intentional breach of his/her obligations under this Contract.
If the Customer becomes aware of a theft or loss of his/her credentials, he/shall promptly request that the Payment Account and his/her Personal Space enabling him/her to subscribe to Payment Services be blocked. For this purpose, the Customer shall regularly review the activity on his/her Account. Such request shall be submitted by email to Customer Service. If requested, it shall be confirmed by a registered letter with acknowledgement of receipt sent to the Customer Service. The Customer is hereby informed that any false report in this connection is subject to the penalties provided for by law.
The registration number assigned to this blocking request will be provided to the Customer and will be kept for 18 months. If the Customer makes a written request before expiry of this period, the Institution will provide him/her with a copy of the blocking request.
The Institution will take immediate action in response to the blocking request by blocking the Payment Account and the provision of Payment Services. The Institution shall not be liable for the consequences of a blocking request that is not made by the Customer. A blocking request will be deemed to have been made on the date the request is actually received by the Institution or any person it appoints for this purpose. In the event of theft or fraudulent use, the Institution is entitled to request a receipt for or a copy of the complaint filed by the Customer, who shall provide it as soon as possible.
In addition, the Institution may, on its own initiative, block the use of the Payment Account and the provision of Payment Services for security reasons, in the event of suspected unauthorized or fraudulent use, or in the event of a significantly increased risk that the Customer will be unable to perform his/her payment obligations. The Institution will provide the grounds for such decision and notify the Customer thereof by any means. If the Institution receives a significant number of refund requests, order cancellations or disputes of unauthorized orders, the Institution may block the use of the Payment Services.
In the event of a major operational or security incident, the Institution is required to report such incident to the competent authorities. If the incident impacts or may impact the Customer’s financial interests, the Institution will give notice, without undue delay, of all available measures he/she can take to mitigate the detrimental effects of the incident.
9. Term and termination
The Framework Contract is entered into for an indefinite term as from its acceptance online by the Parties.
The Customer may automatically terminate the Framework Agreement by giving one month’s notice by registered letter with acknowledgement of receipt. He/she shall maintain a sufficient balance on his/her Payment Account to enable proper completion of Payment
Transactions and Payment Services, as well as the payment of the related fees. After six months, this Contract may be terminated without charge.
In accordance with the same requirements, the Customer may also request the termination of a single Service offered by the Institution. Such termination may result in the termination of another related service.
The Institution may exercise any right to retain possession of the sums or Available Balances it holds on behalf of the Customer in order to set them off against all certain and payable debts owed under this Contract. It may also exercise this right of retention with respect to any Customer to cover any future debt that may arise due to the reversal of a transaction credited to the Payment Account, for a period of up to thirteen (13) months after the date the transaction is posted to the Payment Account.
The Institution may automatically terminate the Framework Agreement by giving two months’ notice by registered letter with acknowledgement of receipt.
In the event of a material breach by a Party, the other Party may terminate the Framework Agreement, effective immediately, simply by giving written notice.
Material breaches by the Customer include any intentional communication of false information, any illegal or immoral activity, any suspicion of money laundering or terrorism financing, any threats against the Institution’s employees, any payment default, any breach of an obligation owed by the Customer under this Contract and any over-indebtedness situation.
Material breaches by the Institution include any communication of false information, any breach of an obligation under this Contract, the appointment of an insolvency trustee (mandataire ad hoc) or judicial receiver (administrateur judiciaire) and the opening of administration or liquidation proceedings.
In the event of a change in the applicable laws or the interpretation thereof by the relevant regulatory authority that impacts the ability of the Institution or its representatives to provide the Payment Services, the Framework Contract will terminate automatically, in which case the termination will not confer any right to indemnity or compensation.
10. Obligations of the Customer
By subscribing to the Payment Services, the Customer undertakes to comply with all applicable General Terms and Conditions. The Customer warrants that the information provided in his/her Personal Space is accurate on the date of the Payment Service subscription application. In the event of a change, he/she shall update such information as soon as possible throughout the duration of the Framework Contract. The Institution shall not be liable for any damage that may result from an inaccuracy or change if it has not been informed thereof. It reserves the right to suspend the Framework Contract until documents are obtained or to terminate it in accordance with Clause 9 hereof. The Customer shall not carry out or promote activities subject to criminal penalties, such as endangering minors, acts of paedophilia, infringing works protected by intellectual property rights, non-compliance with personal data protection requirements, breaches of automated data processing systems, money laundering, non-compliance with provisions governing games of chance, horse races and lotteries or the provisions establishing the requirements for engaging in regulated professions.
11. Proof agreement and telephone recordings
The Parties acknowledge that Orders sent and recorded by the Institution are deemed to have been authorized by the Customer and duly authenticated. Proof of this authentication may be provided by reproducing, on a computer medium, the use of the technical means assigned for this purpose to the Customer by the Application.
Any Customer who uses a Payment Service involving the use of an electronic means of communication (telephone, email, internet, etc.) agrees to the recording and processing of the related electronic communications, including the content thereof and associated traffic data, for the purposes of proving Payment Transactions and the performance of payment and foreign exchange services, compliance with all applicable statutes and regulations, management of contractual relations, preventing abuse and fraud, producing statistics and tests, training the Institution’s staff, and quality control of the payment and foreign exchange services. Data in relation to electronic communications and the content thereof may be retained until the end of the period during which the Payment Transaction may be disputed before the courts.
The Customer shall be informed of any proposed amendment to the General Terms and Conditions, in paper format or on another durable medium, no later than two months before its proposed effective date. If the Customer does not object in writing by a registered letter with acknowledgement of receipt sent to the Institution before the expiry of this two-month period, the Customer will be deemed to have accepted the amendments. If the Customer refuses the proposed amendment, he/she may terminate this agreement, free of charge, by making a written request before the proposed effective date. The consequences of such termination are described in Clause 9 hereof.
Death - Upon receipt of notice of the Customer’s death, the use of the Payment Services will be blocked immediately until the succession estate is settled in accordance with applicable law. The Institution will then repay the sums owed after the Payment Transactions in progress have been settled and the fees due have been paid. However, any Payment Transaction made by the Customer up to the date of his/her death requiring a payment must be executed in accordance with this Agreement. Inactive Account - A Payment Account will be deemed inactive in the following cases:
I. No Payment Transactions have been carried out on the Payment Account for a period of twelve months (excluding debits of fees and costs of any kind by the Institution that holds the account) and the Customer has not contacted the Institution in any manner.
II. At the end of a period of 12 months following the Customer’s death.
The Customer and his/her successors in interest are hereby informed of the consequences thereof. The assets held on the inactive Payment Account will be deposited with Caisse des Dépôts et Consignations at the end of a period of ten years from the date of the last Payment Transaction, excluding debits of fees and costs of any kind by the Institution that holds the account.
14. Right of withdrawal
A Customer targeted by unsolicited marketing within the meaning of the French Monetary and Financial Code (Code Monétaire et Financier) or who enters into a distance contract for the subscription of Payment Services and/or the opening of the Payment Account has a withdrawal period of 14 (fourteen) full calendar days to exercise its right of withdrawal, without having to provide any reason for his/her decision. The Customer will not incur any penalties simply for exercising his/her right of withdrawal. The period runs from the date on which the Framework Contract is concluded. If the Customer wishes to exercise his/her right of withdrawal, he/she shall send a written request, by registered letter with acknowledgement of receipt, using the duly completed and signed withdrawal form (“Withdrawal Form” provided at the end of this document), or any other paper medium clearly expressing his/her intent to withdraw, to the following address: PayTop, Service Clients (Customer Service), 5 rue de la Baume, 75008 Paris, France. If the Customer exercises this right, this Contract will terminate in its entirety.
Unless expressly waived by the Customer, performance of the Payment Services linked to the Account may begin only after the withdrawal period expires. Issuing a Payment Order, in any form, before the withdrawal period expires will be deemed an express and immediate waiver by the Customer of his/her right of withdrawal. Despite the early execution of a Payment Transaction before the withdrawal period expires, the Customer may still withdraw from the Framework Contract in accordance with the above provisions after payment of the sums owed for the services provided.
The right of withdrawal applicable to the Funds Transfer Service is described in Title II.
15. Personal data and professional secrecy
The Customer is responsible for ensuring the data and information it communicates to the Institution are accurate and complete. The Customer’s personal data collected at the time he/she subscribes to any of the Services or thereafter is required. Failure to provide all or part of this data may result in the refusal to open the Payment Account or to provide a service offered by the Institution.
The information and data about the Customer will be processed by PayTop, in its capacity as data controller, and will be shared with Easylink Remittance, in its capacity as joint data controller. Certain data will be sent to sub-processors located in a European Union Member State or a European Economic Area State for purposes of performing the Payment Services. The Institution will ensure that each sub-processor will protect the personal data in accordance with the law. The Customer may at any time obtain the list of authorized third parties by contacting Customer Service directly. Personal data may also be verified with other organisations, and thus additional information about the Customer may be obtained, in order to verify his/her identity and comply, in particular, with the applicable anti-money laundering and counter-terrorism financing laws. A record of searches carried out will be kept in the file.
The collection and processing of personal data is necessary to manage the Application and provide the Payment Services; to personalise the Services the Institution offers and the information it sends out; to establish proof of Transactions; to comply with anti fraud, anti-money laundering and counter-terrorism financing obligations; to send sales and advertising communications by telephone, post, SMS or email, subject to obtaining your consent if necessary; and to generate accounting information and statistical data. Each data processing operation is justified by a legal basis that complies with and is adapted to the legislation in force, whether for the purposes of performance of the Contract, compliance with a legal obligation, performance of a task carried out in the public interest or in the exercise of official authority, or the protection of a vital or legitimate interest, or is based on your freely given and unambiguous consent to said processing.
The retention period for this data varies depending on the purpose of the processing operation. For example, to comply with its anti-money laundering and counter terrorism financing obligations, the Institution is required to retain personal data for a period of five (5) years from the execution of payment transactions; for five (5) years in the case of proof of transactions; for three (3) years from the end of the business relationship in the case of direct marketing; for six (6) months in the case of recordings of telephone calls to Customer Service; for five (5) years from closure of the Account in the case of identity information; and for ten (10) years in the case of accounting information.
In accordance with the personal data protection laws in force, the Customer has a right to the portability of the data he/she provides, a right to access the personal information he/she provides, a right to object to processing and a right to rectify information about him/her if it is inaccurate or incomplete. To exercise these rights, simply write to Customer Service, providing your first and last names and references, at: PayTop, Service Clients (Customer Service), 5 rue de la Baume, 75008 Paris, France, or at firstname.lastname@example.org
By writing to this same address, the Customer may also request that data processing be restricted or that data that has been unlawfully processed be deleted. Finally, the Customer may provide instructions about the retention, deletion and disclosure of his/her personal data after his/her death. At this same address, he/she may also request to be put in contact with the data protection officer in order to answer any questions about data protection. Furthermore, the Customer may register with the telephone marketing opt-out database solicitation on the following website: www.bloctel.gouv.fr. The Customer may also contact the French Data Protection Agency (CNIL) (www.cnil.fr).
The Institution’s data protection policy is available at any time on the Application or upon request from Customer Service.
In accordance with Article L.522-19 of the French Monetary and Financial Code, the Institution is bound by professional secrecy. However, in accordance with the laws in force, this secrecy may be lifted pursuant to a regulatory and prudential legal obligation, in particular at the request of the supervisory authorities or the tax or customs authorities, as well as at the request of the criminal courts pursuant to Article L.562-4 of the French Monetary and Financial Code or in the event of a judicial order served on the Institution. Notwithstanding the foregoing, the Customer may waive the Institution’s professional secrecy obligations by informing it in writing of the third parties who are authorised to receive confidential information about him/her. Professional secrecy is lifted by law in favor of companies that perform important operational tasks under this Contract on behalf of the Institution, as well as in favor of any authority or recipient designated by law.
16. Anti-money laundering and counter-terrorism financing measures
In accordance with the provisions of Article L.561-2 et seq. of the French Monetary and Financial Code on the contribution of financial institutions to combating money laundering and the financing of terrorist activities, the Institution is required to obtain information from the Customer about the origin, purpose and intended use of funds received or transferred in connection with the execution of a Payment Transaction. It must also carry out all necessary checks to identify the Customer and, if applicable, the beneficial owner. The Customer shall take all steps to enable the Institution to thoroughly review the Payment Transaction and shall inform it of any exceptional transaction compared with the Payment Transactions usually posted to his/her Account.
The Customer shall provide all documents or information requested by the Institution.
He/she acknowledges that the Institution may be required to set up monitoring systems to combat money laundering and the financing of terrorist activities.
The Customer acknowledges that the Institution may at any time terminate, refuse to execute or postpone the execution of a Payment Transaction if it has insufficient information about its purpose or nature. He/she is hereby informed that any Payment Transaction carried out under this Contract may be reported to the national financial intelligence unit.
In accordance with the law, if the information concerns the Customer, the Customer may access all information so reported, provided such right of access does not compromise the purpose of combating money laundering and terrorism financing.
No proceedings based on Articles 226-13 and 226-14 of the French Criminal Code (Code pénal) and no civil liability action may be brought against, or any professional sanction imposed on, the Institution, its officers or its employees or against any other person listed in Article L.562-1 of the French Monetary and Financial Code if they have in good faith submitted the reports referred to in Articles L.561-22 of the same code.
17. Disputes and complaints
Only complaints on the grounds of non-execution or incorrect execution of a Payment Order the Customer gives to the Institution are covered by this clause and the Framework Contract. The Institution is not entitled to cancel an irrevocable Payment Order at the Customer’s request.
If a Payment Transaction is executed incorrectly by the Institution and the Institution is at fault, the Payment Transaction will be cancelled so as to restore the situation in existence before receipt of the relevant Payment Order. Thereafter, the Payment Order will be re-transmitted correctly.
Customers who wish to dispute a Payment Transaction they did not authorise shall contact Customer Service as soon as possible after becoming aware of the anomaly, and no later than 13 months after the Payment Transaction is posted to his/her Account or is executed. The Institution shall refund the Payment Transaction and restore the situation that would have existed if the disputed Payment Transaction had never been carried out, and in any event no later than the end of the next Business Day, unless it has good reason to suspect fraud and if it reports these reasons in writing to the Banque de France. If applicable, the Issuer shall restore the account debited to the state in which it would have been had the unauthorised payment transaction not taken place.
If the Customer’s Personalised Security Credentials are used, the Customer shall bear the losses due to unauthorised Payment Transactions made before notice is given, up to a maximum of €50. However, the Customer shall not be liable in the event of an unauthorised Payment Transaction carried out without the use of his/her Personalised Security Credentials or in the event of a loss due to the act or omission of an employee, an agent or a branch of a payment service provider or an entity to which its activities have been outsourced.
The Institution shall not be liable in the event of wrongful conduct on the part of the Customer, such as gross negligence or an intentional breach of his/her obligations, delay in submitting a blocking request or bad faith. If the Customer’s credentials are misappropriated or counterfeited, the losses due to Payment Transactions carried out before the Customer submits a blocking request shall be borne by the Institution, except in the event of wrongful conduct as defined above. Losses due to Payment Transactions carried out after the Customer submits a blocking request shall be borne by the Institution except in the event of fraud.
Complaints may be submitted free of charge to Customer Service in accordance with the complaints handling charter. A response will be provided within a maximum period of fifteen Business Days from receipt of the complaint. However, exceptionally, the Institution may provide a response within 35 Business Days. This longer time period will apply if a response cannot be provided sooner for reasons beyond the Institution’s control. The Customer will be notified of this longer time period and will be informed of the reasons and the final date for the response.
If an amicable agreement cannot be reached, the Customer may submit a complaint to Customer Service or submit the matter, by post, to an independent Ombudsman, to whom the matter may be referred, free of charge, if the dispute arises from the application of this Contract, without prejudice to other legal recourse. The Ombudsman may be contacted at the following address: Le Médiateur de l’AFEPAME, c/o WEBHELP – Zac de Gray – Impasse Clément Ader 70100 Gray, France.
The Ombudsman will not examine a dispute if: • The Customer fails to prove that he/she first attempted to resolve the dispute directly with the Institution by submitting a written complaint to Customer Service, to which he/she did not receive a satisfactory response within one month
• The request is manifestly unfounded or wrongful • The dispute has already been reviewed or is in the process of being reviewed by another ombudsman or a court
• The Customer has submitted its request to the Ombudsman more than one year after having submitted its written complaint to the Institution • The dispute is not within the scope of his jurisdiction
At the conclusion of the case processing period (no longer than 90 days), the Ombudsman will recommend, in French, a solution to the dispute. The disputes, statements made and opinions rendered may not be produced or asserted in any proceedings (other than
the mediation) without the agreement of the parties.
18. Liability and force majeure
The Parties shall not be liable or be deemed to have breached this Contract in the event of a delay or nonperformance if the cause of the delay or nonperformance is a force majeure event as defined by Article 1218 of the Civil Code (Code civil) and by the case law of the French courts. This Contract sets out the entire agreement between the Parties and supersedes all prior agreements or representations, whether oral or written, in relation to the subject matter hereof.
Unless otherwise provided in this Contract or in laws of mandatory application, and without prejudice to other grounds for excluding or limiting liability provided herein, the Institution shall under no circumstances be liable for any damage caused by a force majeure event or an event beyond its control or by any measure or legislative provisions adopted by the French or foreign authorities. Force majeure events and events beyond the Institution’s control include, but are not limited to: power failures, fires, floods, strikes by its staff or any of its subcontractors or suppliers, malfunctions of the interbank or credit card payment systems, wars, disturbances, riots or occupations of territory by foreign forces, pandemics and negligence by a third party within the meaning of the caselaw and the learned commentary, such as of the persons responsible for providing electricity or telecommunication services.
The contractual documents are available in French and English.
Communications will be made electronically, in particular by email or via the Customer’s Personal Space. The Customer may also submit requests to Customer Service by telephone or by post. Communications with Customer Service must be in French or English.
20. Protection of funds
The Customer is hereby informed that the funds credited to the Account are protected in accordance with Article L.522-17(I) of the French Monetary and Financial Code and are posted on a segregated account opened with Crédit Mutuel Arkéa in accordance with the requirements prescribed by law. They are thus protected against any recourse by other creditors of the Institution, including in the event of enforcement proceedings or insolvency proceedings initiated against the Institution.
This Contract may not be assigned in whole or in part by the Customer, for consideration or free of charge. In the event this prohibition is breached, this Contract will terminate immediately, and the Customer may incur liability.
22. Governing law and jurisdiction
The General Terms and Conditions are governed by French law. If an amicable resolution cannot be reached, either Party may refer the matter to the courts with jurisdiction.
In accordance with Article L341-16 of the French Monetary and Financial Code (Code monétaire et financier) and Article L.222-7 of the French Consumer Code (Code de la consommation), I have a cooling-off period of 14 (fourteen) calendar days from the signature of the payment services framework contract for the subscription to the Payment Services and/or for the opening of the Account referred to above, which I may exercise at no cost and without having to provide any reason. This withdrawal is only valid if it is sent, legibly and duly completed, before the expiry of the aforementioned period, by registered letter with acknowledgement of receipt, to the following address: PayTop, Service Clients (Customer Service), 5 rue de la Baume, 75008 Paris, France.
I, the undersigned (LAST NAME/First name)..................................................................................................................... hereby withdraw from the subscription to the Payment Services and/or the opening of the Payment Account referred to above, which was entered into with PayTop pursuant to a distance selling transaction.
Executed on: Signature:
Special Terms and Conditions of the Funds Transfer Service
These special terms and conditions supplement the Payment Services Framework Contract for purposes of the Funds Transfer Service.
They are concluded between:
the Customer, who is a natural person who resides in a European Union Member State or a European Economic Area State, and who acts on his/her own behalf for non business purposes,
hereinafter the “Customer”, party of the first part, and
PayTop S.A.S, which has share capital of €4 509 962,50 euros whose registered office is at 5 rue de la Baume, 75008 [Paris], which is registered in the Paris Trade and Companies Register under number 487 568 446, and which is authorized as a payment institution under number 16 408 and is supervised by the ACPR, whose address is 4 place de Budapest, CS 92459,
75436 Paris Cedex 09 (http://www.acpr.banque france.fr/accueil.html).
This authorization is available for review in the public register at the following address: https://regafi.fr,
hereinafter the “Institution”, party of the second part. Hereinafter referred to jointly as the “Parties”.
All provisions of the Payment Services Framework Contract (“Framework Contract”) apply hereto. Capitalised terms used herein are defined in the Framework Contract Agreement.
1. Corporate purposes
These special terms and conditions set out the Parties’ rights and obligations with respect to funds transfers, in euros and foreign currencies, that the Institution executes pursuant to the Customer’s orders. The funds will be sent by credit transfer directly to the Payee’s bank account or will be made available to the Payee for withdrawal, in cash, at an Ecobank network branch or from an authorized partner with a local branch in the available countries.
2. Initiation of a Funds Transfer Order
The Customer must log on to his/her Personal Space using his/her username and password. He/she must then complete the funds transfer form on the Application with the following information:
• An available destination country and city;
• The amount of the funds transfer;
• The currency (by default, the currency will be the euro);
• The Payee’s contact details.
Funds transfers using a Card
To confirm each Payment Order, the Customer must ensure that his/her account linked to his/her Card has sufficient available funds, including the amount necessary to cover the transfer fees. Otherwise, the Payment Order will be rejected by his/her account manager. The Customer must then enter the security code of the Card registered in the Application when he/she subscribed to the Payment Services. If the Institution refuses to register the Card or cancels the Card details stored for security reasons, the Customer must enter his/her Card’s number at each subsequent use.
The first transfer will be made securely in 3-D Secure mode. The Institution may require a new 3-D Secure procedure for each transaction.
Funds transfers by Credit Transfer
The Customer may also order a funds transfer from his/her Payment Account or from an account opened in the Customer’s name with a financial institution established in an EU Member State or EEA State or in a third country deemed to impose AML-CTF obligations equivalent to those under French law. The Customer must ensure that his/her Account has sufficient available funds, including the amount necessary to cover the fees set out in Title III. Otherwise, the funds transfer request will be denied. If the Account has sufficient available funds, the Customer can issue a funds transfer payment order via his/her Personal Space by logging on to the Application.
3. Caps on Funds Transfer Orders
The following rules are automatically applied to funds transfers ordered by a Customer:
• For Customers who have presented a valid identity document and a copy of an additional supporting document that also confirms the Customer’s identity, an annual limit of €12,000 per rolling year and €5,000 per 30-day rolling period applies
• The Personal Space will be automatically blocked in the event of three refusals to authorize payment using a Card
The Institution reserves the right to change the caps applied to Funds Transfer Orders in accordance with the provisions of Clause 12.
4. Increasing the caps on Funds Transfer Orders
To enable its Customers to increase the caps described above, the Institution has established manual procedures that allow the following actions:
• Increasing the limit on funds transfers to €6,000 per month and €24,000 per rolling year. To carry out this operation, the Customer must indicate the reason for his/her request and provide proof of income as requested by the Institution.
The Customer agrees to pay the fees in connection with each funds transfer in accordance with the Schedule of Fees and Charges.
6. Authorisation of the Order by the Institution
The Institution may, in particular, refuse to execute a Funds Transfer Order if the information the Customer provides is inaccurate or incomplete, if the Funds Transfer Order is inaccurate or incomplete or if the Card Issuer does not authorise the use of the Card for payment of the transaction and the related fees.
The Institution may refuse the Order if the caps set by the Institution are exceeded, with which the Customer represents he/she is familiar in accordance with the Framework Contract.
The Institution may refuse to execute a transaction if it would breach its policy intended to prevent fraudulent practices, money laundering or the financing of terrorist activities, applicable laws, a court decision or any decision of a regulatory or governmental authority, institution or agency.
However, if the Institution refuses to provide all or part of the Funds Transfer Service on any of these grounds, it will notify the Customer thereof by any means.
7. Execution of Funds Transfer Orders
Funds Transfer Orders using a Card will be acted on immediately by the Institution. The funds may be made available to the Payee immediately, via a partner, at the location the Customer indicates. In the case of funds transfers by credit transfer, when the Customer has given his/her consent, the Institution will confirm receipt of the payment order and will execute the funds transfer. The funds may be made available to the Payee immediately.
The Payee may withdraw the funds, in cash, at branches abroad by furnishing the secret code provided by the
Customer and upon presentation of an official identity document. Funds Transfer Orders issued by a Customer may be revoked at any before the Payee withdraws the funds. The Payee has 14 Business Days to withdraw the funds. After this time, the funds transfer will be cancelled. The Institution will refund the Payment Transaction on the Card used or will restore the Payment Account to the state in which it would have been had the disputed Payment Transaction not taken place.
8. Processing of personal data
Clause 15 of the Payment Services Framework Contract applies to this Title II. In connection with the Funds Transfer Service, the following information will be transmitted to the partner that receives the funds in the country of destination: first and last names, customer number. Providing this information is necessary to meet our anti-money laundering and counter-terrorism financing legal obligations, as well as those of our jointly liable local partner. Each partner has contractually agreed not to use the Customer’s data for any purpose other than those listed above and to comply with the General Data Protection Regulation.
The Institution is not entitled to cancel an irrevocable Payment Order at the Customer’s request. If a funds transfer transaction is executed incorrectly by the Institution and the Institution is at fault, the Payment Transaction will be cancelled so as to restore the situation in existence before receipt of the relevant Payment Order.
To obtain a refund of the money transfer and the fees for the use of the service, the Customer must contact Customer Service. The Institution will reimburse the Customer if any of the following conditions is met:
• The funds have not yet been withdrawn from a partner’s branch
• The funds transfer transaction is cancelled If it becomes aware of the loss, theft, misappropriation or any unauthorised use of his/her Card, the Customer shall immediately inform the institution that issued his/her Card to request that it be blocked, as well as the Institution to request that the Card registered be blocked.
Any other refund request must be justified by supporting documentation provided to Customer Service.
The Customer may withdraw from his/her funds transfer transaction within fourteen (14) days from the validation of his/her transfer transaction. Such withdrawal request must be submitted to Customer Service in writing, by registered letter with acknowledgement of receipt, using the duly completed and signed withdrawal form (“Withdrawal Form” provided at the end of the Framework Contract), or any other paper medium clearly expressing his/her intent to withdraw, or electronically to email@example.com, or by calling Customer Service on +33 (0) 1 40 51 02 96 from Monday to Friday between 9.30 a.m. and 6.00 p.m., excluding public holidays (non-premium number). This right of withdrawal will not apply if the Payee has already withdrawn the funds.
Unless expressly waived by the Customer, performance of the Funds Transfer Service may begin only after the withdrawal period expires. Issuing a Funds Transfer Order, in any form, before the withdrawal period expires will be deemed an express and immediate waiver by the Customer of his/her right of withdrawal.
The price of the funds transfer transaction will be refunded, less a handling fee of four (4) euros.
No penalty will be imposed on the Customer.
These special terms and conditions are governed by the Payment Services Framework Contract.
Schedule of Fees and Charges
The Schedule of Fees and Charges is available on the Application.
In accordance with Clause 12 of the Framework Contract, the Customer will be informed two (2) months before any amendments to the Schedule of Fees and Charges to enable him/her to notify the Institution in the event he/she refuses to accept the new fees and charges.