§ 1.Introduction

Payzaty Payments AB, reg. No. 84786, (“Payzaty” or “we”) provides a Payment Service ( “Service”). This document sets out the conditions applicable to your use of the Service (“Terms”). By registering an account with Payzaty you (“User” or “you”) agree to be bound by the Terms. By Payzaty granting you access to the Service Payzaty is bound by the terms, and an agreement has been entered into between you and Payzaty, of which the Terms are an integral part (the “Agreement”).

§ 2.Desicription of service

Payzaty is payment service that makes it possible for Web sites and mobile applications to accept payments over the Internet. Payzaty provides various technical solutions that can be implemented by the User and provides an administration tool for managing transactions and refunds. Payzaty also offers different solutions for statistics and reporting.

§ 3.Conditions and limitations of using the Service

§ 3.1 All information registered by the User must be accurate and complete. The User must also update the information if they should be changed.

§ 3.2 By accepting the Terms you insure that you will not use the Service to receive payments for goods or services that (a) contains tobacco and acquired via the Internet, (b) relating to pornography in any form or pornographic or sexual services (which for example, sex clubs, escort service, media, pornographic, erotic dancing, etc.), (c) timesharing, (d) provides prescription drugs and sold at a distance (if you do not have all the permits required to sell such drugs) or drug ( e) represent weapons, (f) relates to gambling, betting, lotteries, bingo and other casino services unless you have all the necessary permits, (g) refers to any kind of virtual currency, (h), financial services.

§ 3.3 You may not use the Service to receive payment for something that is prohibited by law or in any other way than you have provided to us.

§ 3.4 You may not impose any limits for accepting card payments (credit or debit), apply a higher price or add any additional fee. You may not ask for or otherwise take part of the cardholder’s PIN .

§ 3.5 You may not search for or take advantage of any gaps or deficiencies in the Service.

§ 3.6 You may not refer to Payzaty in order to demonstrate the suitability or quality of your goods or services.

§ 3.7 If requested by Payzaty you should provide all such documents and other information requested by Payzaty to be able to provide all necessary inquiries required under the Act (106-2013) on measures against money laundering and financing of terrorism (and other applicable regulations and common advice). You must also provide documentation and other information needed by Payzaty and the acquiring bank and card networks to follow applicable laws and regulations. We may do credit checks about you, which you accept when signing up for the Service.

§ 3.8 If you violate the above or if you otherwise use the Service for any illegal activity or in a way that may harm the Service or Payzaty reputation or use the Service in any way that exposes Payzaty to unacceptable risks, Payzaty reserves the right to suspend your account and terminate your use of the Service immediately.

§ 4.Support

Payzaty provides support for the user from the time that the user begins using the Service. The Payzaty support consists of qualified personnel or subcontractors to ensure that the user receives good support.

§ 5.The Service availability and errors in the Service

§ 5.1 The service is normally available 24/7/365, ie around the clock every day of the year. Payzaty does not guarantee that the service is free of errors or interruptions but will take reasonable steps to maintain the highest availability and quality as possible.

§ 5.2 The availability of the Service is measured by Payzaty. Payzaty reserves the right to suspend the Service for maintenance, upgrades and updates. We will announce on our website when such action is planned but it may also be that we need to carry out emergency measures without prior notification.

§ 6.Security

§ 6.1 Payzaty complies at all times with the requirements from acquirers, including security certifications.

§ 6.2 Payzaty responsible for that credit card numbers and sensitive information is handled safely and in accordance with the requirements for certification, regulatory Payment Card Industry Data Security Standard (PCI DSS).

§ 6.3 Payzaty handles all user data in accordance with the provisions of paragraph 11.3. Payzaty always has the right to disclose user data at the request of the acquirer, bank, police or other authority. In connection with such disclosure, Payzaty will inform the user to the extent possible.

§ 6.4 The user is responsible to secure approval of the individual card acquirers or payment methods.

§ 6.5 The user must follow the safety procedures and instructions given by Payzaty, including the passwords and other credentials. User is respon

§ 6.5 The user must follow the safety procedures and instructions given by Payzaty, including passwords and other credentials. User is responsible for that sensitive information, such as login information, passwords, and other user information is used and handled safely and is kept securely so that no unauthorized persons can take part of it.

§ 6.6 In cases where the user comes in contact with sensitive information such as card numbers he/she is bound to follow the regulations according to PCI DSS and other applicable rules and procedures.

§ 6.7 The user may not make any safety testing, analysis, or otherwise try to test Payzaty’s systems unless Payzaty has given its written consent beforehand.

§ 7.Assisting of deviation from the Service functionality

If the functionality of the Service deviates from the agreed functionality the User is to notify Payzaty and give Payzaty all relevant factors and circumstances that may be relevant. Payzaty will examine whether there is any deviation, and try to correct the deviation within a reasonable time (taking into account the nature of the deviation and the impact on the Service).

§ 7.1 Reklamation Complaints A user who wants to make a complaints regarding errors in the Service, shall notify Payzaty of this within a reasonable time and no later than 14 days after the user discovered or should have discovered the fault. The complaint shall specify the defect and give Payzaty all relevant factors and circumstances which may be relevant. The User loses the right to invoke an error if the complaint has not been made within the deadline.

§ 8.Compensation and payment terms

§ 8.1 The price for the Service is at all times indicated on the Payzaty website or can specifically be agreed upon between the user and Payzaty.

§ 8.2 Changes to the price will be indicated on the Payzaty website or by notification by Payzaty.

§ 8.3 Payzaty Fees and fees for partner acquirers may be charged to the User directly by the acquirer or billed by Payzaty. Payment must be paid to Payzaty no later than 15 days after the invoice date.

§ 8.4 The user may not settle the fees which the User is obliged to pay towards any claim which user has to Payzaty.

§ 8.5 In case the User has the right to discounts, these will be deducted from the next invoice.

§ 9.Exchangerates

Information regarding exchange rates and exchange fees may be found on the Payzaty website or by contacting Payzaty.

§ 10.Terms for refunds

§ 10.1 User should have fair and transparent rules for the return and cancellation of goods and services and the regulation of payments, notify rules for the return and cancellation to the customers at the time of purchase, not to repay with cash nor receive cash or other compensation for refunds.

§ 10.2 All payments shall be attributable to a previously completed transaction and will be implemented with the credit card used to execute the payment transaction. The amount of the refund may not exceed the original payment transaction unless the User has a separate agreement through Payzaty that allows for this.

§ 10.3 When replacing a product which gives a difference in the purchase price the User shall reimburse the total amount of goods to be returned and register a new purchase for the new goods.

§ 11. Other provisions

§ 11.1 Responsibility

§ 11.1.1 Payzaty is not under any circumstances responsible for any kind of indirect damage, such as loss of sales or lost customers.

§ 11.1.2 Payzaty is responsible only for Payzaty’s own faults and undertakes no responsibility for any third party acts or omissions. Payzaty’s liability is limited to direct damages and for an amount equivalent to 50% of the fees paid by the User to Payzaty during the immediately preceding three months before the error occurred. Payzaty is not liable for damage or loss which is outside Payzaty’s control or depends on someone else than Payzaty.

§ 11.1.3 The User shall hold Payzaty harmless from claims by third parties against Payzaty resulting from the use of the Service in violation of the terms and conditions, applicable laws or regulations or the rules made or applied by acquiring banks or card networks.

§ 11.1.4 The User shall immediately notify Payzaty if the User becomes aware of any infringement of the law relating to this Agreement or the Service.

§ 11.2 Personal data

§ 11.2.1 By providing the Service Payzaty may need to process personal data about the User’s customers that the User sends to Payzaty. The User’s is in charge of the personal data.

§ 11.2.2 When Payzaty handles personal data for the User Payzaty can on the User’s request and for reasonable compensation provide Users personal data to the User.

§ 11.3 Privacy

§ 11.3.1 Each party undertakes not without the other party’s written consent disclose to third parties during the contract period, and a period of 3 years thereafter information about the Agreement and / or information about the other party that is considered confidential o

§ 11.3 Privacy

§ 11.3.1 Each party undertakes not without the other party’s written consent disclose to third parties during the contract period, and a period of 3 years thereafter information about the Agreement and / or information about the other party that is considered confidential or trade secret.

§ 11.3.2 The above does not prevent the disclosure of information in accordance with the law or by decision of the authorities or court.

§ 11.4

Immaterial rights

§ 11.4.1 Payzaty owns and retains all rights, including inter alia property rights and copyrights to all of the Service including products and services. The agreement does not imply any ownership or intellectual property rights to the Service or other services and products covered by the Agreement.

§ 11.4.2 During the term of the agreement the user receives a non-exclusive use of the Service in accordance with the Agreement.

§ 11.4.3 The User does not have the right to assign, grant sub-licenses to, or sublicense the software, codes etc. provided to the User by Payzaty. The user may not copy, translate, modify or reverse engineer the Software or undertake so-called reverse engineering other than indicated by mandatory law.

11.4.4 The user may make Payzaty logo and name available on the user’s website. Payzaty logo and name may only be used to describe the Payzaty Service and shall not be used to give the impression that Payzaty is behind the User’s goods or services or that Payzaty and the user has some kind of partnership. The User should always follow instructions for rendition of Payzaty’s logo and name.

§ 11.4.5 Payzaty has the right to use the User’s brand and logo for marketing purposes. Such marketing should always be done so that it does not damage the user’s reputation.

§ 11.5 Cookies

§ 11.5.1 Payzaty uses cookies in connection with the payment window. Information about the cookies used, can be found on the Payzaty website or by contacting Payzaty.

§ 11.5.2 The User has an obligation to comply with the relevant provisions of the existing legislation and notify their users about the cookies used by Payzaty. The user can, in this context, link to Payzaty information about cookies.

§ 11.6 Assignment and subcontracting

§ 11.6.1 Payzaty has the right to subcontract some or all of its commitments under the Agreement. Payzaty is liable to the User for hired subcontractor as for themselves.

§ 11.6.2 Payzaty has the right to assign its rights and obligations under the Agreement to third parties. The user has the right to assign its rights and obligations under this Agreement only after Payzaty’s written approval.

§ 11.7 Entry into force and termination

The Agreement will enter into force from the time the User is accepted by Payzaty and is valid until further notice with 30 days notice.

§ 11.8 Revision

Payzaty has the right to conduct an audit of User activity to the extent and in the manner required to ensure fulfilment of their obligations under applicable laws and regulations (including the rules issued outside banks and card networks).

§ 11.9 Changes to the Terms

Payzaty reserves the right to change the contents of these Terms and Conditions with 30 days notice. The user is informed of the changed conditions via the Payzaty website. If the user does not wish to be bound by the new Terms and Conditions, the User is entitled to terminate the Agreement as of the date on which the new conditions are applied.

§ 11.10 Forum and applicable law

Disputes arising from this agreement shall be settled by a Kuwaiti court in accordance with Kuwait law in Kuwait City.