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This is a public proposal to conclude an agreement for payment services and the use of electronic money
The below mentioned provisions are an agreement for payment services and the use of electronic money (hereinafter – Agreement), as an integral part. An offer is considered accepted and an Agreement is considered concluded at the moment that the Client has complied with the provisions outlined in the Agreement, in order for the Agreement to enter into force. If the Parties have agreed otherwise, the Agreement shall be concluded with no changes in its provisions.
1. Terms used in the agreement
1.1 Authorisation – The set of operations conducted by the Issuer with received identification data in order to identify the Client for remote access to the System.
1.2 System – Payment service system maintained by the Issuer for payment services and electronic money use.
1.3 System website – Issuer's website on the Internet used for remote access to the System.
1.4 Client – natural or legal person who has concluded the Agreement with the Issuer.
1.5 Agreement – this agreement on payment services and electronic money use, consisting of the following rules and Tariffs.
1.6 Merchant – merchant who distributes their products/services through the Company-provided Financial transaction (payment occurs with the Company’s issued Electronic Money or through the Company-provided payment services).
1.7 Electronic Wallet – The System accounting element without opening an account, with a unique identification number, used for balance of Funds accounting, making payments, viewing payment history, as well as other actions available to the Client in the System.
1.8 Payment – The Client’s proposed transfer of Funds in the System for the benefit of the Merchant.
1.9 Funds – The existing electronic money in the electronic Wallet issued by the Issuer that the Client has acquired in exchange for an equivalent amount of currency.
1.10 Issuer – SIA QR Pay, Reg. No. 40103297676, legal address: Elizabetes 2 – 500, Rīga, LV-1010, which was registered in the electronic money institution register on 02.07.2014 with the authority to additionally provide payment services. E-mail: email@example.com
1.11 Registration – Data provided to the Issuer by a physical person that allows for establishing consent to the provisions of the Agreement. When the registration has been accepted and an Electronic Wallet number has been assigned, it is considered that the Agreement has been concluded.
1.12 Client’s personal cabinet – A part of the System that is accessible by the Client, for access to the Electronic Wallet and is accessible by the Client after successful Authorisation.
1.13 Virtual signature – The Client identification set of data, comprised of the Electronic Wallet number, passwords, as well as other data, which clearly identify the Client’s intention to make payments, for withdrawals or corrections, and for submitting orders and notifications in the Client’s name. A virtual signature is not an electronic signature within the meaning of the law of Electronic Documents.
1.14 Applicable laws – The legislation in force in the Republic of Latvia that is binding on the Parties, including regulations issued by the Financial and Capital Market Commission.
1.15 Parties – The Issuer and Client together, and each separately (Party).
1.16 Agent – Physical or legal person, who the Issuer attracts to accept Payments.
1.17 Tariffs – A valid price list between the Parties for the services provided by the Issuer under the provisions of the Agreement, which is an integral part of this Agreement.
1.18 Limit – Balance of Funds in the Electronic Wallet, including the commission set by the Tariffs, if such are appropriate, as within the framework, the Client is entitled to make a new Payment. The standard limit set by the Agreement is EUR 2500.00 (two thousand five hundred euro).
2. Subject of the Agreement
2.1 The Issuer issues and provides, and the Client purchases the Issuer’s issued electronic money and uses the payment services provided by the Issuer within the provisions of the Agreement.
2.2 At any time, the Issuer may repurchase at par value the monetary value amount of Funds, in accordance with the Payment services and electronic money law, Article 62.1.
2.3 The fee for fulfilling Article 2.1 of this Agreement is determined in the Tariffs. The Client is obligated to pay the Issuer the denoted fees for using the services denoted in the Tariffs.
2.4 The provision of Services is located in the Republic of Latvia.
3. System Operation
3.1 The Issuer undertakes to ensure the System operations, to conduct records of mutual liabilities between the Issuer and the Client in an electronic form, within the provisions of this Agreement. Mutual liabilities include Funds, commission as set out by the Tariffs, as well as other liability records that arise within the provisions of this Agreement.
3.2 The use of the Virtual Signature certifies that the Client’s submitted order is authentic and genuine, as well as certifies Client identification to the extent required by the Agreement and applicable laws. The use of the Virtual Signature between the Parties holds the same legal liabilities as a handwritten signature on documents in paper form.
3.3 The Client suggests Payment in the following order:
- the client prepares the Payment order in the Personal Cabinet by entering the require data;
- attach a Virtual Signature to the Payment order.
3.4 After Virtual Signature, checks of the remaining balance of Funds and Limits, the System informs the Client of Payment acceptance or rejection in the case that the check of the Virtual Signature was not successful or the balance of Funds is not sufficient for the execution of Payment.
3.5 The Client is entitled to cancel the Payment up to the time of execution. The Issuer does not assume responsibility for the consequences that may arise if the Issuer executes the Payment after acceptance. The Issuer is entitled not to execute the Payment if the Payment exceeds the Limit and the Client has not submitted the required identification information to the Issuer, in accordance with Article 6.6 of this Agreement.
3.6 The Issuer assumes no responsibility for transactions entered into between the Client and the Merchant for which a Payment is made. The Issuer is also not responsible for services provided by the Merchant or quality of the product sold, compliance with applicable laws and does not ensure the refunding of a completed Payment due to unlawful acts of the Client or Merchant.
3.7 Refunding of completed Payments occurs using the Client’s Electronic Wallet.
3.8 The Issuer executes the Client’s Payment immediately, but no later than 16:00 the next working day if the Payment is accepted in accordance with Article 3.4 of this Agreement.
3.9 The Issuer is not responsible for payment default, if the Issuer has shown that the Buyer or their payment service provider has received Payment.
3.10 The Issuer is not responsible for erroneous execution of Payment, the Issuer shows that the Client Payment was done with gross negligence.
3.11 The Issuer is not responsible for erroneous or unauthorised execution of Payment, if Issuer fault is detected for Payment execution, if the Client, within 13 (thirteen) months time from the execution of Payment, has not informed the Issuer of an erroneous or unauthorised Payment.
3.12 The Issuer does not pay interest or commission to the Client for remaining Fund balance in the Electronic Wallet.
3.13 The Issuer is not liable for losses accrued by the Client due to the System not functioning or interference, with the exception of cases when this interference or non-functioning causes a loss in Funds.
3.14 The Issuer does not guarantee continuous access to the to the System, if there are technical reasons.
3.15 The Issuer shall have the right to set their provided electronic money and payment service restrictions or additions by publishing them on the System website. Such restrictions or additions are not considered amendments to the Agreement and may not be published in advance. These restrictions apply to the Limit, identification requirements, range of Buyers etc.
Confidentiality and security
4.1 The Parties undertake to provide all necessary security measures for the protection of information and documents, arising, obtained or made available to the Parties, while using the System.
4.2 The Client is responsible to independently take care of Client identification information at their disposal (Virtual Signature), preserving its secrecy. The Client is prohibited from disclosing the Virtual Signatures or information the Client has access to in the System to any third party, as defined by applicable laws.
4.3 The Issuer undertakes to ensure that the Client’s submitted data is securely stored and not to disclose the data to third parties, except in instances outlined in applicable laws.
4.4 The Client gives the Issuer consent to process the Client’s submitted physical person information (collection, storage, registration, administration, transfer, transmission etc.), as well as request and receive the aforementioned information and other information from third parties and process it in accordance with the procedures outlined in applicable laws. The Client agrees to the transfer of their personal information to third parties if required by the Issuer to collect debts from the Client, which may arise during the fulfilment of this Agreement.
4.5 The Parties undertake to not use the System for illegal financial operations, or for criminal money laundering and terrorist financing, as well as any other actions, which are contrary to any applicable laws.
4.6 The Client does not have the right to use the System for concealing income or for systematic profit-making purposes. The Client confirms that they are informed about the administrative and criminal responsibility if the Client carries out activities in the System, for necessary registration, receiving licenses or violating registration or license terms.
4.7 The Issuer renews Client access to the System as soon as the data security threats have been eliminated.
Client Registration and Entry into Force of the Agreement
5.1 Registration is considered to have occurred and the Agreement enters into force if:
- the Client has agreed to the provisions of the Agreement, confirming such with an expression of free will;
- the Client has given the Issuer their identification information (Phone number or e-mail address, as well as other requested information), which allows for definite Agreement conclusion and concrete use of the Electronic Wallet.
5.2 After completing the activities outlined in Article 5.1 of this Agreement, the Client receives the Electronic Wallet number and password necessary for access to the Client’s Personal Cabinet via e-mail or by text message (SMS) to the specified phone number.
5.3 The Agreement shall enter into force the moment that the Client has fulfilled the activities set forth in Article 5.1 of this Agreement, and has received the information mentioned in Article 5.2 of this Agreement, and shall remain in effect indefinitely. If the Parties have not otherwise agreed, the Agreement has entered into force without amendments.
6. Payments with Bank Card
6.1 When paying with a bank card, Client has to enter: card number, expiration date, CVV Code, holder's name and payment amount, as well as agrees to this User Agreement.
6.2 Bank card data in the encrypted format are sent to Acquiring Bank via secure communication channel and is used only during the transaction moment. 3D Secure technology provides additional security.
6.3 When making a payment, using same bank card again, Client has to select this card on dedicated web-page and enter the amount and the CVV-code. Without entering CVV-code, System won't accept payment from previously used card.
6.4 Client is responsible for the input data and the correctness of the amount. In cases of any claims Client does not have the right as a reason to mention wrong data entry.
6.5 When paid amount is shown in Client's Electronic Wallet, Service to be considered as completed in full.
7. Client Rights and Responsibilities
7.1 The Client is entitled to use the System in full, to make Payments and other activities in the System, performing the necessary actions in the Client’s personal cabinet.
7.2 A detailed description of the services available in the System is available on the System’s website.
7.3 The Client does not have the right to authorise or to give their rights and responsibilities specified in the Agreement to third parties.
7.4 The Client has the right to opt out of the services offered by the Issuer and terminate the Agreement at any time, first fulfilling their outstanding obligations to the Issuer as per the Agreement.
7.5 The Client is entitled to request and receive a Payment history and a statement on the use of Funds in the Electronic Wallet. The Issuer shall provide the information referred to in this article in the Client’s personal cabinet, as well as another format at the Client’s request.
7.6 The Client is obligated to immediately, but no later than within 1 (one) working day, submit to the Issuer all the requested information in order to fulfil the statutory requirements for Client identification with regards to the Money Laundering and Terrorism Financing Prevention Act. In the event that the Client fails to comply with the obligations imposed by this article, the Issuer has the right to deny System access to the Client and to stop Payments.
7.7 The Client has a responsibility to regularly, but no fewer than once a week, to keep track of remaining Funds and Payment history in the Electronic Wallet, as well as to immediately notify the Issuer of any unauthorised or incorrectly executed payments.
7.8 The Client is obligated to inform the Issuer of any suspicions regarding Virtual Signature data loss or coming into the possession of a third party. The Issuer blocks access to the Client’s Electronic Wallet immediately, but no later than the next business day after receiving the information provided by the Client. Information may be transferred using the means of communication outlined in the Agreement.
7.9 The Client is entitled to receive damages in the amount of the Payment, if the Issuer has incorrectly performed the Payment or performed the Payment after the time that the Client has notified the Issuer of Virtual Signature data loss in accordance with the Agreement.
7.10 The Client is obligated to comply with the instructions of the Issuer on the System’s website, this Agreement, as well as to handle Funds and conduct Payment orders with the utmost care.
8. Terms and Conditions
8.1 The Issuer is registered in the Latvian Financial and Capital Market Commission maintained registered electronic money institution register. The Issuer is supervised by the Financial and Capital Market Commission:Kungu iela 1, Riga, LV1050
Telephone: +371 67774800
Fax: +371 67225755
8.2 The Issuer has the right to unilaterally propose amendments to the Agreement by posting them on the system's website. Amendments shall enter into force 2 (two) months after its publication on the system’s website, if the Client has not expressed opposition to the proposed amendment.
8.3 The Issuer may, at any time, unilaterally terminate the Agreement by sending an appropriate notification to the Client.
8.4 In the event of Agreement termination, the Issuer shall suspend any action regarding the Electronic Wallet. The Issuer shall buy back the remaining Funds from the Client and in 3 (three) working days time, shall transfer the amount due to the Client using the banking details specified by the Client.
8.5 The Issuer has the right to terminate the Agreement if the Client violates the terms of the Agreement or applicable laws.
8.6 The Issuer shall review the Client’s complaints and questions regarding damage compensation within 45 (forty-five) days from receiving of such.
8.7 All disputes arising between the Parties, which cannot be resolved by means of negotiation within 60 (sixty) days time from the submission of the Party, shall be settled by the court located in the Issuer’s registered address, in accordance with the laws of the Republic of Latvia. The Client may turn to Consumer Rights Protection Centre in case of complaints regarding the Issuer’s unlawful conduct, if the Client is considered a consumer under the Consumer Rights Protection Law.
8.8 The Client affirms that the provisions of the Agreement are understandable and acceptable, as well as, if not otherwise specified between the Parties, the Agreement is concluded without changes to its provisions.
8.9 The Client is informed of the opportunity to agree on amendments to the Agreement. These amendments shall be drafted separately.
8.10 The Client affirms not to use the System contrary to the provisions of the Agreement or applicable laws.
8.11 The time reference for making payments shall be Eastern European time (UTC+2).
8.12 If the Issuer has not immediately taken steps to prevent the Client’s violation of the agreement, the Issuer does not lose this right in the future and is permitted to apply these against the Client without a limitation period to past violations, as well.
8.13 The Parties shall communicate using the Client's personal office communication system provided by the Issuer. If necessary, the Parties may communicate via e-mail or telephone.
8.14 At the Client’s request, the Issuer shall submit the Agreement to the Client in paper form or using another form of permanent media, as well as explain the provisions of the Agreement to the Client.
8.15 The Agreement is concluded in the Latvian language. For purposes of communication, the Parties may use any other language, understood by the Parties and is comfortable for the Parties to use, if the Parties have agreed to do so.