Terms And Conditions
1. General provisions
1.1. The present terms and conditions (“the Agreement”) are agreed between Payitwise Technologies Inc - 250-997 Seymour St, Vancouver BC V6B 3M1, Canada as Payitwise (“the Company” or “Payitwise”) and the Client, each a “party” and together the “parties”.
1.2. The Client has read and agreed with the following terms and conditions before registering on, accessing, browsing, downloading or using the Payitwise website located at https://payitwise.co . These conditions are applicable to the Client after the Client has registered and verified an account.
1.3. The present agreement is a document of significant importance which shall be carefully examined by the Client before the Client is registered in the system, an account in Client’s name is opened at Payitwise and the Client uses other services provided by Payitwise. Please read the terms of the present agreement carefully before you decide to agree with them.
‘we’, ‘us’ or “our” and similar expressions – shall be taken as references to Payitwise.
‘Website’ means the website https://payitwise.co
‘you’, ’your’ or ‘yours’ and similar expressions refer to the individual who purchases and/or uses the Payitwise system.
2. Definitions of key terms used in the Agreement:
Acceptable language – English.
Applicable Law – means all applicable laws of Canada and regulations of distributor.
Balance – means the balance of available on the Payitwise system at the time of purchase and funding.
Business Day – means any day from Monday through Friday, except UK based bank holidays
Client – A physical person that registered and verified a payitwise account.
payitwise – means the payitwise system.
Holder – means a client who has registered and verified a payitwise account.
Merchant Website – means a website of a Participating Merchant which, at the time of a transaction, has been approved by The Payitwise to accepts Payitwise payment as a method of payment.
Participating Merchant – is a business or other organisation that has a contract with Payitwise to integrate the Payitwise payment system into its payment processing system and operates under the Payitwise rules.
Password – means the personal identification number or password used when registering a payitwise account.
Transaction Amount – means the amount that is deducted from the Balance on the Payitwise account in connection with the use of your Payitwise QR code payment, excluding any applicable fees.
3. Funding a PayitWise Account:
3.1. You become a payitwise client once you register and verify and account on https://payitwise.co
3.2. The following terms and conditions becoming effective upon your registeration of a payitwise account and will remain in effect until you cease to becoming a payitwise client
3.3. It is not permitted to share or disclose your payitwise account to any third party
3.4. It is not permitted to fund a payitwise account from payment details of another person other then the one disclosed and verified during the account registration and purchase process.
3.5. All payitwise accounts are monitored risk checks are carried out, your payitwise account can be cancelled or suspended in case of reasonable suspicion is identified during the purchase process and additional information or supporting documentation might be required in order to re-enable your payitwise account and access.
3.6. You must not use payitwise account for any illegal activity or against breach of Applicable Law(s) or regulation or fraud
3.7. It is the payitwise client responsibility to maintain proof of method of funding of payitwise account as well as purpose of funding and usage of the account, this is required to validate in case required that the holder is the originator of the funding of the payitwise account
3.8. Once a payitwise holder authorizes a transfer at participating merchant for the amount for a product or service, the following action is irreversible and the merchant will be credited the relevant monetary value immediately, thus it is the holder responsibility to validate prior to completing a transfer and any payment authorization.
4. Use / transfer of Payitwise balance
4.1. Payitwise account can only be used to transfer funds at participating merchants which have a acceptance option on their checkout page
4.2. Prior to funding a payitwise account it’s the user responsibility to verify if they are able to use payitwise balance for the purpose of funding
4.3. A monthly fee will be changed for unused payitwise accounts after 3 months of none usage for the amount of 5 euros a month
4.4. Once payitwise transfer is authorized and confirmed on a participating merchant the payitwise holder authorizes the payment irrevocably, the merchant system will check with the payitwise system to validate the transfer details and availability of funds to complete the said authorized transaction and respond accordingly. If sufficient funds are present on a valid payitwise account the participating merchant will be credited for the authorized amount the the funds will be deducted from the payitwise account holder.
4.5. Payitwise only issues and validates the account validity and usage between the holder and participating merchant
4.5.1. Payitwise is not in any way associated with participating merchants or the goods or services purchased and exchanged between the payitwise account holder and participating merchant
4.5.2. It is the payitwise account holder responsibility to validate and agree with participating merchants services terms and conditions and any dispute or claim arising with issues of products and services received from merchants where payitwise account is used is between the two parties
4.5.3. Payitwise account payment is similar to paying with cash said that the payitwise holder must keep their own records for the purchase and transfer against goods or services.
5. Payitwise Account Security
5.1. Payitwise account password should be secured and not shared with third parties, it is the holder responsibility to take all actions required to keep the following information safe and secure
5.2. Payitwise is not responsible to validate the user action against the transfer of any payitwise account balance in regards to the person or devise used to transfer an existing funded payitwise account balance by the use of the password set by the user, as it is considered that such transfer is being completed securely and by the individual that has registered and funded a payitwise account and has taken all relevant actions keep safe password and account information details as per the following terms and conditions
5.3. If you suspect that your payitwise account has been compromised, you should send an email immediately to info@payitwise.co and provide the account user information. Once such a request is received the relevant payitwise account will be suspended and further information will be requested such as holder verification, activity and other information deemed necessary in order to take further action accordingly.
5.4. Only once all relevant information provided are in satisfaction to validate the claim then the payitwise account will be reset to replace the prior password, additionally it is agreed that in case of claim of stolen or unauthorized usage is reported you should co-operate fully in further investigations in order to identify and take appropriate action for the cause of such activity.
6. Cancellation / Refund
6.1. Payitwise account can be cancelled and a full refund will be made on the method used to fund the account in the following conditions only:
6.1.1. Within 10 business days from the original funding date
6.1.2. The Payitwise account has not been used to transfer and the fully funded amount is available on the account
6.1.3. When funding a payitwise account a service fee is applied the said service fee is none refundable and only the original payitwise funding monetary value will be refunded
6.1.4. A refund request form will be provided to justify the reason for cancellation, the following request will be reviewed and confirmed within 2 business days
6.1.5. It might be required that in order to process a refund a funding identification process to be completed in order to verify the request is executed from the original payitwise funder
6.1.6. Any future funding might be restricted towards the user or payment method used by the user following a cancellation / refund request as per section 6 of this terms and conditions.
7. Client identification.
7.1. Level 1 identification is completed by registering on https://payitwise.co and providing your name, surname, address information and verifying your email or phone number
7.2. Level 2 identification for payitwise account funding above 250 Euro or equivalent consist of information included as mentioned on 7.1 as well as live identification selfie image and identification document as well as proof of address documentation
7.2.1. Level 2 identification is completed via a third party automatically and the relevant privacy policy should be reviewed and accepted
7.2.2. A user consent that the information to be provided will be checked against third party databases for identification and data verification purposes
7.3. Level 3 identification process might become relevant once consequent funding of payitwise account is above 25,000 in a single year timeframe that is within 365 days from initial payitwise account funding source of funds proof and or additional questionnaire will be requested to be provided and completed
8. Data Protection
8.1. https://payitwise.co.com takes all possible measures to protect data processing and storage in line with GDPR guidance and as per the website privacy policy.
8.2. All card payment processes are complete outsources to PCI level 1 compliant service providers
8.3. Customer information are stored in secure manner as per the privacy policy encrypted
8.4. Client data and transaction data during registration and post termination of agreement are store for a period of at least 5 years as per regulatory requirements and more information can be seen within the company privacy policy
9. Termination of Agreement
9.1. The agreement is considered terminated upon the complete balance of payitwise account is reduced to 0 (zero) and the account is dormant for a period of 6 months.
9.2. The agreement can be terminated immediately upon the following factors
9.2.1. You have obtained access to payitwise account via an unauthorized third party
9.2.2. There is suspicion that your account has been used to fund a payitwise account on behalf of another user
9.2.3. If unauthorized usage has been attempted via your payitwise account or we have reason to believe that there is an attempt of illegal activity or fraud being conducted with the use of payitwise account.
9.3. The agreement will be terminated upon cancellation and refund request is completed as per section 6 of the following terms and conditions.
9.4. It is made clear that past termination of the agreement and account certain data might be retained for regulatory compliance purposes as per the referenced data protection section 8 as well as the privacy policy which can be found at https://payitwise.co website.
10. Fees
10.1. Funding of payitwise account carries a service fee which is displayed during the funding checkout total.
10.2. Funding service fee is none refundable fee which is charged for the handling of the payment process and verification services
10.3. A monthly maintenance fee in case of none usage of payitwise account after 3 months of dormancy in the amount of 5 euro or equivalent will be charged
10.4. Payitwise does not charge the account holder any fees for the transfer of payment to participating merchants
11. Dispute with Participating merchant
11.1. In the instance of a dispute about a purchased product or service with the use of a payitwise account at a participating merchant location, the following should be settled and raised directly with the merchant. Payitwise is not in any way responsible about the quality, safety or delivery of goods or services offered by participating merchants.
11.2. Any transaction authorized and completed using payitwise account by verifying and confirming the transfer at a participating merchant is irreversible and can not be cancelled as per section 4.5 of the following terms and conditions
12. Regulations
12.1. The services offered for the user accounts opened on payitwise.co are handled via payitwise money service business licence issued via Fintrac in Canada
12.2. Payitwise accounts are not protected under any compensation fund but the company segregate client funds from own funds for the period stored until usage of payitwise account balances is completed
13. Limitation of Liability
13.1. By accepting the following terms and conditions and accessing https://payitwise.co and creating an account at payitwise you acknowledge that the services provided are creation of payitwise account for the monetary amount for which the user has funded their account.
13.2. Payitwise account holder upon use of the balance of their account towards a participating merchant and completing the payment it is made clear that
13.2.1. Any further arrangements are between the participating merchant and the user and payitwise is not associated in any way with any participating merchant nor does it verify service or product delivery and this should be handled directly
13.2.2. If there are technical issues in the transfer process then the user should contact payitwise support at info@payitwise.co and report the following and this will be reviewed and actioned accordingly.
13.2.3. Some participating merchant might have there own policy for acceptance terms and https://payitwise.co will not accept any liability on any restrictions set by participating merchants
13.2.4. In the event of technical failure on participating merchant or https://payitwise.co system in terms of payitwise account funding and transfer all efforts will be made to resolve such issues immediately in the event that such issues are unresolved payitwise liability and action will be to cancel the funding and transfer and the associated payitwise transaction will refund the amount back to the funding method used as per section 6 of the following terms and conditions
13.2.5. Payitwise shall only be liable to you for direct and actual damages which were caused by payitwise own willful misconduct or gross negligence. Subject to any mandatory statutory requirement, in no event shall the amount of payitwise liability exceed the Transaction Amount, nor shall payitwise be liable for any indirect (including, but not limited to, loss of profit and/or data), incidental, consequential, exemplary, punitive or special damages, regardless of how they arise. We shall not be liable in any manner for any goods or services paid for with a payitwise account.
14. Customer Complaints
14.1. If you are dissatisfied with payitwise services or you require assistance or clarity about the services offered please contact info@payitwise.co and our team will be happy to assist and resolve any issues faced in relation to the services offered. We aim to resolve any complaints as soon as possible.
