These Terms&Conditions are in electronic format and do not require handwritten signatures. These Terms&Conditions shall not be invalidated solely on the ground that they are not signed. By ticking the box during the registration process, you are acknowledging that you have read, agreed to and accepted all of the terms and conditions contained herein. These Terms&Conditions govern the Business relationships between ABAPay Solution s.r.o (“ABAPay”) and you as a Client. Access to and use of ABAPay Services by the Client is subject to compliance with these Terms&Conditions together with annexes if any.
ABAPAY s.r.o., registration number 29415152, legal address: Vinohradská 3216/165, Prague, Czech Republic. E-mail: support@abapay.eu. ABAPay is not a credit institution (bank) and Client's Account is not a bank account.
Payment account opened under Client’s name within ABAPay system. As the Account is not a bank account it is not insured by any government institution and protection schemes usually applicable to bank accounts do not apply.
Anti-money laundering/counter financing of terrorism.
A day when ABAPay provides Services to its Clients and is any day, except for Czech national holidays and days of rest, as well as ABAPay’s non-business days previously announced.
Legal relationships between ABAPay and Client for the period of provision of Services and until the termination of Business relationships in accordance with these Terms&Condtions.
A prepaid card that is connected to Client’s Account and serves as mean of payments.
Natural or legal individual that holds Business relationships with ABAPay.
Transfer of funds from Client’s bank/payment/e-money/card account to Account opened under Client’s name in ABAPay.
Abnormal and unforeseen circumstances beyond the control of ABAPay that includes: a) strikes, lock-outs or other industrial action; b) civil commotion, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war; c) fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster; d) impossibility of the use of railways, shipping, aircraft, motor transport or other means of public or private transport; e) impossibility of the use of public or private telecommunications networks; and f) the acts, decrees, legislation, regulations or restrictions of any government.
European Regulation 2016/679 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data (General Data Protection Regulation), enters into force on 25 May 2018.
Data provided by ABAPay to the Client that enables the Client to access and use Services.
Transfer of funds from Client’s Account into another Client’s or person’s account.
Fees and commissions applicable for Services provided to Client and displayed at ABAPay’s Website.
www.swipez.eu
Transfer of funds from Client’s Account opened under Client’s name in ABAPay back to bank/payment/e-money/card account.
Words denoting a gender shall include all other genders. References to a Section or Sections shall be deemed references to the respective Section(s) of these Terms&Conditions. Headings and notes herein are for reference only and shall not affect the construction and interpretation of these Terms&Conditions. The headings and subheadings in these Conditions are for reference only and do not limit the scope of each clause.
2.1 In order to access Services the Client must be over 18 years old and be able to conclude legal agreements.
2.2 Client might only access Services having agreed to these Terms&Conditions.
2.3 Client must have PC or a mobile phone and stable internet connection.
2.4 Client must duly complete registration procedures. Client may not register more than one Account.
2.5 Before the Client may access Services, the Client must be identified and his/her identity shall be verified by ABAPay. For the purposes of identification and in order to ensure AML/CFT compliance, ABAPay reserves a right to request a Client to provide identification document and in some cases invoice paid by the Client (e.g. phone, internet or utility bills) or a bank statement that has Client’s name and address on it.
2.6 ABAPay reserves a right to request any additional documents/information from the Client as it considers necessary to satisfy AML/CFT requirements.
2.7 During the Business relationships ABAPay may request the Client to update documents/information about the Client and Client commits to provide up-to-date documents/information before the Client continues to use Services.
2.8 ABAPay reserves a right to refuse further provision of Services to the Client if the Client fails to submit documents mentioned in sections 2.5., 2.6., and 2.7. or if the verification of the submitted documents or information has failed.
2.9 Client shall immediately notify ABAPay in case of any changes in circumstances or facts to any documents/information provided during Client's registration/verification procedure.
2.10 Services may not be accessed from various countries as indicated at the Website under “Residents of what countries may not open account?” section. The Client commits to inform ABAPay immediately if the Client moves to one of the mentioned prohibited countries.
2.11 Once ABAPay has carried out its verification procedures, ABAPay may, but is not obliged to, establish Business relationships with the Client and provide the Client with Login data.
2.12 After entering the Login data at ABAPay’s Website, the Client will gain access to secure environment of his/her Account.
3.1 ABAPay provides Payment and Card Services to its Clients. Services enable Clients to transfer and receive funds to and from other Clients or persons and to use Card services as means of payments through ABAPay’s Website and mobile application.
3.2 Additionally, the Client may link his own card to the Account and use functional offered from the Account.
3.3 The full functional of Services that specifies mandatory fields to be filled in during Deposits, Withdrawals, Payments and Card usage is described in the Account’s secured environment provided by ABAPay after the Client enters his Login data.
3.4 Before making a Payment, the Client must Deposit funds onto his/her Account by using dedicated Deposit methods offered by ABAPay. Where applicable, the Client authorizes ABAPay to debit Client’s funds using method selected by the Client (e.g. PayPal account, credit or debit card or a bank account). The Client warrants that he/she is the legal owner of the funds debited and details of the selected Deposit method provided are accurate and complete.
3.5 Client shall ensure that he/she verifies data entered during the Payment initiation and bears full responsibility for incorrectly entered data. ABAPay shall bear no responsibility in cases where Client enters wrong Payment accompanying information, such as, for example, recipient’s name or bank account details.
3.6 ABAPay shall attempt to execute the Payment initiated by the Client within 2 (two) Business days.
3.7 Client understands and accepts that ABAPay may impose specific limits on Client’s Deposits, Withdrawals and Payments, so to ensure compliance with AML/CFT requirements. Client will not be able execute any Deposit, Withdrawal or Payment exceeding the set limits. Limits may be increased upon receipt of additional information from the Client willing to increase limits on the Account.
3.8 Client commits to pay Rates in exchange for receipt of Services and in accordance with Rates as indicated at ABAPay’s Website. Rates companies, Rates individual
3.9 Client understands and accepts that third-party fees may be applied to the amount sent by the Client to any third person as well as currency exchange rates if Payment transactions are in different currencies, thus the amount received by the recipient may differ from the amount initially sent by the Client.
3.10 All Deposit, Withdrawal and Payment history including charges, fees and margins, shall be recorded and saved in the Account and shall be available to the Client at any time. The Client shall also be able, for additional fee to request ABAPay to confirm to the Client any Deposits, Withdrawals and Payments made and ABAPay shall confirm any of those made on the Client's Account.
3.11 Client’s Account is personal and only Client shall have a right to access and use the Account. The Client must take all measures that might be necessary to protect his Login data and commits to inform ABAPay immediately in case Client’s Login data has been compromised by calling: +420 608 402 935
3.12 At any time the Client may maintain only one Account. Any other Account that might have been opened for the same Client shall be closed by ABAPay and the remaining balance must be transferred to single Account of the Client.
3.13 Client may not (and may not attempt to) tamper, hack, modify or otherwise corrupt the security or functionality of ABAPay. In case ABAPay has reasonable grounds to believe that Client is attempting any of these activities, ABAPay reserves a right to unilaterally terminate Business relationships with the Client with immediate effect.
3.14 Client accepts Services on “as is” basis, meaning that ABAPay shall bear no responsibility for technical failures, glitches or disruptions that may from time to time appear during provision of Services.
3.15 Services are generally provided in English language and Client confirms good command of English.
3.16 ABAPay reserves a right to record and/or protocol all telephone conversations, Internet exchanges (including chats during registration process), e-mails and meetings between the Client and ABAPay at its discretion, and use such recordings or transcripts of such recordings as evidence vis-à-vis any party (including but not limited to regulatory authorities and courts of law) to whom ABAPay deems it desirable or necessary to disclose such information in the course of any dispute or anticipated dispute involving ABAPay and the Client. The Client may nonetheless not rely on the availability of such recordings.
3.17 ABAPay has no control of over the products or services that are paid for with the Service, as it only acts as an independent Payment Services provider. The lack of control denotes that ABAPay cannot confirm the legality and does not assume the responsibility and potential liability stemming from the legality of the products or services that are paid for with its Service.
3.18 Client is entitled to request a copy of any legally required disclosures, including these Terms&Conditions, from ABAPay and ABAPay will provide it to the Client in durable medium form, e.g. by e-mail.
3.19 Client may terminate its consent to receive required disclosures through electronic communication by making respective request to ABAPay. ABAPay reserves a right to charge Client a document request fee to provide a paper copy. ABAPay reserves a right to close Client's Account, if the Client withdraws Client's consent to receive electronic communications.
3.20 Client shall send requests or inquiries in relation to these Terms&Conditions by e-mail to: support@abapay.eu or by mail to: Vinohradská 3216/165, Prague, Czech Republic.
3.21 ABAPay reserves a right to publish on its Website additional conditions on use of Services which Client commits to familiarize with, accept and follow. The Client commits to regularly review the Website and ABAPay commits to duly notify the Client of any changes or additional conditions that may apply to Services with due notice.
3.22 High-risk category relates to transactions involving PEPs, sanctioned individuals or those for whom negative adverse media is available, or transactions that trigger inquiries of our partner banks/FIs or similar. A compliance charge of 10% may be applied when a single transaction amount or a total amount of multiple connected transactions of EUR 10,000 or higher.
4.1 ABAPay offers prepaid (thus not a credit or debit card) MasterCard branded Cards to its Clients. Client may use the Card to pay for goods and services, such as, for example, restaurants, online shopping, hairdresser etc. The Card may be used both home and abroad.
4.2 ABAPay Cards also support contactless payment feature that enables Client to simply hold the Card near the contactless-enabled terminal to pay.
4.3 Client may order the Card from the ABAPay’s secure environment. The Card’s activation and PIN will also be available within Client’s Account. Client shall follow instructions delivered together with the Card.
4.4 When the Card is received by the Client, the Client must sign the Card on its backside and keep Card’s information safe and secret.
4.5 In order to pay with the Card the Client must first load the Card with funds using designated Card loading methods. Once loaded the Card is ready to be used in all places MasterCard is accepted.
4.6 Client may order more than one Card. ABAPay reserves a right to limit the amount of Cards issued to one Client upon its discretion.
4.7 In all cases ABAPay considers that the Card is used by authorized Client. If a Client submits a Payment or Card transaction that results in ABAPay becoming liable for fees or charges, such as chargeback or other fees, the Client agrees to reimburse ABAPay for all such fees. In order to collect these fees the Client authorizes ABAPay to withhold the appropriate amount directly from Client’s Account.
4.8 In case the Client believes that his Card was compromised he must visit his Account and block the Card immediately. Alternatively, the Client must immediately contact ABAPay by calling: +420 608 402 935
4.9 Client acknowledges and accepts that Cards’ transactions may also be subject to limits imposed by ABAPay in order to comply with AML/CFT requirements.
4.10 Client understands and accepts that foreign exchange rates will apply if paying in different currencies.
5.1 ABAPay reserves a right to suspend its Services and to terminate Business relationships with immediate effect if it reasonable believes the Client is involved in any of the following activities, which are prohibited:
5.1.1 Violating any law, regulation, directive, statute or contract in relation with the Services received, including without limitation, money laundering laws and regulations, consumer and personal data protection;
5.1.2 Acting in a manner that is offensive, harassing or demeaning to other Clients, to ABAPay and/or to its employees, directors, representatives or partners;
5.1.3 Providing inaccurate, disingenuous, misleading or entirely false (deliberately or knowingly) information without any justification;
5.1.4 Sending and receiving what may be deemed as unauthorized funds or funds received from fraudulent activities;
5.1.5 Infringement of ABAPay’s copyrights, patents, trademarks or any other intellectual property rights;
5.1.6 Not being cooperative with ABAPay when requested to provide additional information that shall allow ABAPay to comply with AML/CFT requirements;
5.1.7 Refusing to provide confirmation of Client’s identity upon request;
5.1.8 Sending ABAPay documents that ABAPay reasonably believes to be fraudulent;
5.1.9 Using tools and mechanisms to hide Client’s identity and locations (e.g. proxy and other similar programs);
5.1.10 Engaging in activities that would lead ABAPay to handle disproportionate number of claims settled in favor of Client;
5.1.11 With or without intent to facilitate malicious computed programming routines that may cause damage, harmfully interfere with, clandestinely capture or steal any system, data or information.
5.1.12 Facilitation of viruses, Trojan horses, worms or other computed programming tools that may damage ABAPay;
5.1.13 Using Services in such a way that could cause a risk of non-compliance with ABAPay’s AML/CFT regulatory obligations;
5.1.14 Disclosing confidential information to third-parties.
5.2 DThe Client shall be liable to ABAPay or third party involved for all the losses resulting from the activity as described in Section 5.1.
6.1 ABAPay shall make all reasonable efforts to ensure that Account is used by duly authorized Client that has entered his Login data. The Client must immediately notify ABAPay of any Payments that were unauthorized. ABAPay reserves a right to block access to Account and invalidate Login data for such Client until the case is resolved.
6.2 ABAPay shall bear no responsibility for any losses that might have resulted from any unauthorized use of the Account or Services, including any Payment uninitiated from the Client’s Account.
8.1 Business relationships between ABAPay and Client remain in force until terminated in accordance with these Terms&Conditions.
8.2 Either party may exercise its right to terminate Business relationships by giving no less than 30 (thirty) Calendar days written notice (including e-mail notification) to the other party. There is no obligation to provide any reason in this case. No penalty shall be payable by either party upon termination of Business relationships.
8.3 Parties may mutually agree (also by way of e-mail communication) to terminate these Business relationships at any earlier date.
8.4 Before the termination date the parties of Business relationships must honor their outstanding obligations towards each other.
8.5 On the termination date the Client’s right to use his/her Account (including mobile application, Cards and any other softwares that might have been provided to Client by ABAPay) will be extinguished and Login data will be invalidated.
8.6 ABAPay reserves a right to deduct all amounts due to it in accordance with applicable Rates before transferring any remaining balance on Account of the Client back to the Client.
8.7 ABAPay shall have the right to terminate Business relationships with the Client without any prior notice in the following circumstances:
8.7.1 If the Client fails to comply fully with any obligations of these Terms&Conditions;
8.7.2 In case ABAPay may not duly identify the Client and beneficial owner of the Account in accordance with applicable AML/CFT obligations;
8.7.3 Client fails to present documents/information to satisfy AML/CFT obligations;
8.7.4 If ABAPay has reasonable grounds to believe the Client is using Services to facilitate fraudulent or criminal activities;
8.7.5 In case of Client’s death or loss of legal capacity;
8.7.6 In case of Client’s liquidation or entrance into insolvency procedures;
8.7.7 In case any of the representation or warranties provided by the Client during Business relationships are, or become, untrue;
8.7.8 In case ABAPay considers that early termination is necessary for its own protection;
8.7.9 There is a request from regulatory authority that binds ABAPay.
8.8 In case of termination of Business relationships the remaining funds available at Client’s Account shall be Withdrawn by the Client, but in the case no Withdrawal takes place, the Client authorized ABAPay to transfer funds back to Client bank account, card account or any other type of account the Client holds after deducting the applicable Rates.
8.9 ABAPay’s rights and liabilities which have accrued prior to the termination of Business relationships shall continue until fully discharged, except for rights or liabilities that survive termination of Business relationships in accordance with these Terms&Conditions.
9.1 ABAPay and Client shall not disclose to any third party (unless required to do so by any applicable law or by any regulatory or supervisory authority or by any other person entitled by law) any information relating to Business relationships, Payments, funds or other matters or confidential nature.
9.2 Client authorized ABAPay to disclose confidential information as it may be required by applicable law, rule or regulatory authority without prior notice to the Client.
9.3 ABAPay shall take all the necessary steps to ensure full compliance with applicable provisions of GDPR.
10.1 ABAPay and Client shall not disclose to any third party (unless required to do so by any applicable law or by any regulatory or supervisory authority or by any other person entitled by law) any information relating to Business relationships, Payments, funds or other matters or confidential nature.
10.1.1 Impair or prevent any further or other exercise of such right, power or remedy or
10.1.2 Operate as a waiver of such right, power or remedy;
10.1.3 No waiver of breach of all or part of these Conditions shall (unless expressly agreed in writing by the waiving party) be construed as a waiver of any future breach of the same or as authorizing a continuation of a particular breach.
11.1 Client shall indemnify ABAPay and keep it indemnified against all losses, taxes, expenses, costs and liabilities whatsoever which may be suffered or incurred by ABAPay as a result or in connection with:
11.1.1 Any breach by the Client of these Terms&Conditions;
11.1.2 Any illegal actions performed by the Client using Services.
11.1.3 No waiver of breach of all or part of these Conditions shall (unless expressly agreed in writing by the waiving party) be construed as a waiver of any future breach of the same or as authorizing a continuation of a particular breach.
12.1 ABAPay has no obligation whatsoever to any taxation or similar authority in respect of any taxation or other similar duty or levy payable by any Client. It is Client’s obligation to pay all taxation, duties and levies that are payable by it in respect of Client’s Account.
12.2 As registered in Czech Republic, which is subject to Automatic Exchange of Information (AEOI), ABAPay shall report on statuses of Client Accounts to the relevant Tax authorities since 2017.
13.1 ABAPay shall not be responsible for any breach of these Terms&Conditions, or for any loss suffered by the Client due to such breach in case such breach was caused solely by the Force Majeure circumstances.
13.2 The performance of Services is deemed to be suspended for the period of Force Majeure circumstances, and thus ABAPay shall have extension of time for performance of its duties under these Terms&Conditions.
14.1 ABAPay is committed to protect privacy of its Clients and comply with GDPR requirements. This section explains what is personal data, which personal data is collected by ABAPay, how the personal data is stored and processed through the Website and mobile application of ABAPay.
14.2 ABAPay may collect, use and disclose personal information as authorized by law or with Client's consent. Depending on the circumstances, Client's consent to the collection, use and disclosure of personal data may be express or implied. Express consent would arise if Client specifically consented to a particular dealing in its personal data. Express consent can be given orally, electronically (by clicking a button) or in writing. If ABAPay needs to collect, use or disclose any information for any purpose not set out in this Section, ABAPay will give the Client appropriate notification and give the opportunity to object or decline to the collection, use, or disclosure of this information.
14.3 What is personal data?
14.3.1 Any information relating to an identified or identifiable natural person; an identifiable natural person is one who can be identified, directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or to one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person.
14.3.2 ABAPay stores collected personal data of its Clients electronically on a computer or in certain paper filing systems, relating to an individual, who can be identified from that data (or from that data and other nonpublic personal data in our possession). Personal data can be factual or an opinion.
14.4 What is the purpose of data collection?
14.4.1 To set up, manage, analyse and maintain Client Account, as well as to offer Services to Clients;
14.4.2 ABAPay provides its Clients with its name and address as well as with the intended purpose for the personal data collection and processing as described in the Section above by default, and provides the following data upon Client’s request: possible recipients of the personal data; right of the Client to gain access to his or her personal data and of making corrections in such data; whether providing an answer is mandatory or voluntary, as well as the possible consequences of failing to provide an answer; legal basis for processing of personal data.
14.5 Which personal data is collected and processed by ABAPay?
14.5.1 Personal data the Client provides on registration or other forms or uploads to his/her Account, such as name, address, e-mail address, gender, identification number, telephone number, date of birth and “Know Your Client” information;
14.5.2 Personal data about Client’s Payments, account activation and execution of Payments;
14.5.3 Correspondence with ABAPay;
14.5.4 Personal data ABAPay receives from third parties in order to verify information that the Client has provided to ABAPay (such as identity), or to protect its Clients, suppliers and correspondents against fraud, such as payment processors, banks, credit reference agencies (but for identification and fraud-prevention purposes, not credit checking purposes), fraud checking agencies, providers of operational services, and regulators.
14.6 Which persona data is not collected and stored by ABAPay?
14.6.1 Any personal data from its Client when they intend to use Services unless expressly stated to the contrary;
14.6.2 Information about its visitors from other sources, such as public records or bodies or private organisations;
14.6.3 Any sensitive personal data about Clients.
14.7 Client’s personal data is protection by storing it on ABAPay’s servers, where access is strictly limited. ABAPay ensures specific precautions to ensure safe and secure environment for storage of Client’s personal data in accordance with GDPR requirements.
If the Client has a complaint towards ABAPay, he/she is invited to send a detailed explanation of the complaint to support@abapay.eu or call at: +420 608 402 935
15.1 Client and ABAPay shall take all reasonable steps so to resolve the complaint or any issue amicably, in good faith and in cooperative manner. The Client acknowledges and agrees that threats and blackmailing to ABAPay are prohibited and constitute valid ground for interrupting negotiations and for immediate termination of any Business relationships. In case if parties are unable to reach amicable solution to the dispute, they must proceed in accordance with provisions of the next Section.
16.1 These Terms&Conditions are construed in accordance with and shall be governed by the laws of the Czech Republic.
16.2 Any dispute, controversy or claim arising out of or in relation to these Terms&Conditions, including the validity, invalidity, breach or termination, shall be settled before the courts of the Czech Republic and in accordance with Czech law.
16.3 Section 16 shall survive termination of Business relationships between ABAPay and Client.
Have questions or suggestions?
We are always ready to help! Fill out the form
or contact us at the specified contacts.
