Paytently PI Ltd - Terms
and conditions

1. Introduction

These Terms and Conditions (“Terms”) govern the use of services provided by Paytently PI Limited (“Paytently”, “we”, “us” or “our”). By registering for or using any of Paytently’s payment services (“Services”), you (the “User” or “you”) agree to be bound by these Terms and any documents incorporated by reference (such as our Privacy Policy and Fee Schedule). These Terms form a legal agreement between you and Paytently, effective from the moment you accept them (for example, by checking an acceptance box or using our Services). Please read these Terms carefully each time you use our Services. If you do not agree, you must refrain from using the Services. You may request a copy of these Terms at any time or download them from our website for your records.

About Paytently: Paytently PI Limited is a company incorporated in Malta (Company No. C113188) with registered office at The Adelaide, 230/231 Tower Road, Sliema SLM1601, Malta. Paytently is authorized by the Malta Financial Services Authority (MFSA) as a payment institution under the Financial Institutions Act (Cap. 376 of the Laws of Malta). Paytently’s MFSA license permits it to provide payment services as listed in the Second Schedule to the Financial Institutions Act, including (but not limited to): execution of payment transactions (such as direct debits, card payments, credit transfers), issuing of and acquiring payment instruments, money remittance, payment initiation services (PIS), and account information services (AIS). Paytently is a Payment Institution (PI), not a bank or e-money institution, and therefore is not authorized to accept deposits or other repayable funds from the public (under the Banking Act) and does not issue electronic money. Any funds held with Paytently are strictly for the execution of payment services and do not constitute a deposit or electronic money. In other words, Paytently cannot engage in deposit-taking and must use client funds only to provide payment services.

Languages and Communication: The default language of these Terms and communications with you is English. We will ordinarily communicate with you electronically (for example via our platform or email). You may request a translation of these Terms or communications into an official language of an EU/EEA country in which we offer Services, and where required by law we will provide information in that language. You can also request these Terms or other information on paper by contacting us.

2. Definitions

In these Terms:

• Account – means the payment account provided by Paytently to you for the execution of payment transactions and related Services.

• Business Day – means any day on which banks in Malta are open for business, excluding Saturdays, Sundays, and public holidays.

• PIS (Payment Initiation Service) – a service whereby Paytently, at your request, initiates a payment from your account held with another bank or institution (“account servicing payment service provider”) to a specified recipient.

• AIS (Account Information Service) – a service whereby Paytently, with your consent, retrieves and aggregates information from your account held with another bank (account servicing provider) and provides it to you or a third-party you designate.

• Payment Instrument – any personalized device or set of procedures agreed to by Paytently and used by you to initiate a payment (for example, a debit card, mobile application, or other credentials).

• Money Remittance – a service to transfer funds for a user without the creation of a payment account in the name of the user (for example, you provide funds to Paytently and we forward them to a recipient).

• Micro-Enterprise – a business entity that employs fewer than 10 persons and has an annual turnover and/or balance sheet total of €2 million or less (treated similarly to a consumer for certain regulatory purposes).

Other capitalized terms may be defined elsewhere in these Terms. References to the singular include the plural and vice versa.

3. Scope of Services

Paytently offers a range of payment services under a single platform. The specific Services available to you may depend on the products you sign up for and the permissions of our license. Below is an overview of our main Services:

3.1 Payment Account Services

Upon successful registration and onboarding (see Section 4), you may be provided with a Paytently payment account (“Account”). Your Account allows you to hold funds and execute payment transactions, including sending and receiving payments. You can transfer funds to others or receive funds into your Account (for example, via bank transfer or other supported payment methods). Paytently may provide you with unique account details (such as an IBAN) to facilitate incoming or outgoing transfers. Note that Paytently does not hold your funds as deposits; all funds in your Account are safeguarded in segregated client accounts with reputable EEA credit institutions, separate from Paytently’s own funds. These client funds form a distinct patrimony that is protected from Paytently’s creditors, and we perform daily reconciliations of client balances to ensure accuracy and regulatory compliance. Funds in your Account do not earn interest and are not covered by any government deposit guarantee scheme. In the unlikely event of our insolvency, your safeguarded funds would remain protected from our creditors and be returned to you. They are exclusively for making payments and withdrawals according to your instructions.

3.2 Direct Debits and Credit Transfers

With a Paytently Account, you may arrange credit transfers (one-off or standing orders) from your Account to accounts with Paytently or other providers. You may also be able to set up direct debits from your Account, allowing authorized third parties (for example, utility companies) to collect payments from your Account. Any direct debit will require your prior consent (a mandate). We will honor direct debit collections only if you have sufficient funds and a valid mandate in place. You have the right to revoke direct debit mandates by notifying the merchant or us within the timelines required by the applicable payment scheme. We will process SEPA direct debit refunds or cancellations in accordance with law and scheme rules. (For example, if an unauthorized or incorrect SEPA direct debit is taken, you must inform us promptly and in any case within the timeframe allowed for refunds, typically 8 weeks for authorized transactions or 13 months for unauthorized ones, as applicable.)

3.3 Card Issuance (Payment Instruments)

Paytently may issue you with a payment instrument, such as a debit or prepaid card, linked to your Account. The card will allow you to access funds in your Account to make purchases or withdrawals. The card remains Paytently’s property and is provided for your personal use. If a physical card is issued, sign the back and keep it secure. You must protect your card and its security credentials (PIN, passwords) and notify us immediately if the card is lost, stolen, or misused (see Section 7 on Security). Use of the card is subject to transaction limits and fees as notified to you (for example, in our Fee Schedule). Paytently may decline or block a card transaction if we suspect unauthorized or fraudulent use or if it violates these Terms or legal requirements. We may also deactivate or cancel a card with prior notice (or immediately, if necessary for security or legal reasons). You agree to use any Paytently-issued card in accordance with the card scheme rules and not for any unlawful purpose.

3.4 Merchant Acquiring Services

Paytently’s license also permits us to acquire payment transactions, meaning we can process card or digital payments on behalf of merchants. If you are a business using Paytently to accept payments from your customers, we will settle those incoming payments to your Paytently Account (or other settlement account as agreed) after processing. When we act as an acquirer, we simply transmit your customers’ payments to you – the underlying sale of goods or services is solely between you and your customer, and Paytently is not responsible for issues related to quality, non-delivery, or refund of your products or services. You are required to follow all applicable network rules and Paytently’s instructions regarding acceptance of payment instruments (for example, you must honor valid card payments, avoid surcharges where prohibited, etc.). Received payments may be subject to reversal under certain circumstances (see Section 8.6). If a customer’s payment to you is reversed (for example, via a chargeback on a card transaction or an ACH reversal), Paytently will deduct the amount of the reversal (and any associated fees) from your Account balance. We will notify you if this occurs and provide details. You are responsible for any refunds, chargebacks, or disputes related to payments you receive, and you agree that Paytently may recover those amounts from you (see Section 14.5) if your balance is insufficient. We may also require a reserve or other security from business users to cover potential liabilities arising from merchant acquiring activities, as permitted by law and scheme rules.

3.5 Payment Initiation Service (PIS)

Paytently’s PIS allows you to make payments directly from your bank account to a third party (for example, an online merchant) through an interface provided by Paytently. When you choose to pay a merchant via Paytently’s PIS, we will ask you to select your bank and account from which to pay, and then securely redirect you to authenticate with your bank. You will be prompted to consent to the payment details (amount, recipient, etc.) before authorizing the payment via your bank’s normal authentication (for example, entering your online banking credentials or using a bank app or one-time passcode). By proceeding, you explicitly authorize Paytently to initiate the payment on your behalf and confirm that this instruction cannot be revoked once your bank has received it.

Important: Paytently never stores or has access to your banking login credentials – we simply transmit them securely to your bank at your direction during the session and never retain them. The PIS is a one-off service (not a standing arrangement); you will need to authorize it each time you make a new payment request. Paytently will confirm successful initiation of the transaction, and then the responsibility for executing the payment lies with your bank. Section 14 (Liability) below explains our responsibilities regarding PIS. Generally, no fees are charged to you by Paytently for using PIS; any PIS-related fees would be borne by the merchant or reflected in the transaction price (your bank should not charge you extra for using a regulated PIS provider).

3.6 Account Information Service (AIS)

Paytently’s AIS allows you to aggregate and share information from your external bank accounts. With your consent, Paytently can connect to your bank and retrieve data such as your account balance, transaction history, and personal details (collectively, “Account Information Data”). For example, you might use AIS to verify your identity or financial status with a service provider (such as for a loan application or an online gaming account). When you opt to use AIS, you will select your bank and the specific account(s) to retrieve data from, then authenticate with your bank (using your usual login/password or security method) to permit Paytently read-only access. As with PIS, your login credentials are never stored by Paytently or shared with the third party requesting the data; they are used only in real time to facilitate the connection and then discarded. The Account Information Data we obtain will be shown to you and, if applicable, passed to the third party you are interacting with (for example, the merchant or service provider who requested the check). We may also use the data to streamline your use of our other services (for instance, to suggest which of your accounts to pay from when using PIS). AIS is also a one-time service per request and cannot be revoked once we have transmitted the information as instructed. Paytently does not modify the information obtained from your bank and is not responsible for the accuracy of information held by your bank; we simply relay it as provided. We charge no fee to you for AIS; however, you should ensure any third party requesting your data is authorized and that you agree to their use of it. Any subsequent use of your data by the third party is governed by your agreement with that third party, not by Paytently.

3.7 Ancillary Services (FX and Others)

Paytently may offer operational services closely related to the above, such as currency exchange and data storage/processing in relation to payments. If you make a payment or hold an Account in different currencies, Paytently can perform currency conversion for you. Currency conversions use a reference exchange rate (for example, based on rates provided by our banking partners) plus a margin or fee as specified in our Fee Schedule. We will inform you of the applicable exchange rate and any fees before executing a conversion whenever you initiate a multi-currency transaction. Other ancillary services we might provide include technical services to facilitate payment processing and safeguarding (holding) your data or funds pending execution of transactions. These ancillary services are provided only to support the main payment services and in accordance with our license permissions.

3.8 Services Not Covered

Paytently’s license does not cover deposit-taking, lending (except limited credit related to payment transactions, if ever provided, which would be subject to strict conditions), or investment services. We do not provide overdrafts or loans on Accounts (any credit, if offered in connection with a payment, will meet the requirements of Article 10 of the Financial Institutions Act – for example, be repaid within 12 months and not funded by user funds). Paytently is also not involved in the underlying sale of goods or services that you pay for via our Services – those are purely between you and the merchant or payee (see Section 8.5 regarding merchant payments).

4. Eligibility and Account Opening

To use Paytently’s Services (aside from one-off PIS/AIS via a merchant site), you must register and pass our onboarding process.

Eligibility criteria include:

(i) you are at least 18 years old (or the legal age of majority in your jurisdiction);

(ii) you have the legal capacity to enter into contracts; and

(iii) you are resident in a country where we offer our Services. Both consumers and businesses can apply. If you represent a legal entity (company/organization), you must be properly authorized to bind that entity and the entity must be duly organized and operating in a permitted jurisdiction. By applying, you represent and warrant that all information you provide is accurate and truthful and that you meet these criteria.

Onboarding and Verification: We are required by law to perform customer due diligence (“Know Your Customer” or KYC) checks before offering our Services. You agree to provide any information and documents we request during signup and thereafter for ongoing compliance. This may include personal identification, proof of address, information about your business or the purpose of your transactions, and so on. We may also verify your information via third-party databases or agencies. All information will be processed in line with our Privacy Policy and applicable data protection laws. We reserve the right to refuse any application at our sole discretion (for example, if you fail our checks or your risk profile is not acceptable). We are not obliged to provide the specific reasons for any refusal, unless required by law. During onboarding and at any time afterward, Paytently may ask for additional or updated information to ensure we have accurate, up-to-date records and to comply with anti-money laundering/terrorism financing regulations. You must promptly inform us of any changes to the information you provided (for example, change of address, name, contact details, beneficial owners in case of companies, etc.). If at any point you no longer meet our eligibility criteria or fail to provide required information, we may suspend or terminate your access to the Services (see Section 12).

Upon successful completion of our checks and acceptance of your application, we will activate your Account and/or the requested Services. You will then be able to log in to our platform (using the credentials you set) and use the Services as described in Section 3.

Account Security: During registration, you will create or be given security credentials (such as a password or other login authentication) for your Paytently Account. You are responsible for keeping those credentials confidential and secure. Do not share your login details with anyone. We will never ask you for your password by email or phone. If you suspect any unauthorized access to your Account, you must notify us immediately (see Section 7).

Regulatory Compliance: We are committed to complying with all applicable laws, including anti-money laundering (AML) and counter-terrorist financing rules. By using our Services, you acknowledge that we will conduct ongoing monitoring of your account usage and transactions. We may inquire about the nature of certain payments or request additional documentation at any time as part of our regulatory obligations. If we detect or suspect that any transaction or activity may be linked to financial crime or other illegal behavior, we reserve the right to delay, block, or refuse the transaction and/or report it to the relevant authorities, in line with our legal obligations. Please note that we may be prohibited by law from informing you if such a report is made (to avoid “tipping off”). These measures are in place to protect you, Paytently, and the financial system from abuse.

5. User Responsibilities and Acceptable Use

When using Paytently Services, you agree to comply with all laws and regulations applicable (for example, those relating to anti-money laundering, fraud, sanctions, and data protection). You must use our Services only for legitimate purposes. By entering into these Terms, you make the following commitments and warranties to Paytently:

• Correct Information: All information you provide to us (during signup and during use of Services) is true, accurate, current, and complete, and you will promptly update us of any changes. You will not use false identities or provide false documents.

• Personal Use and Authority: If you are an individual, you will use the Services only on your own behalf and for your personal purposes (not on behalf of another person). If you are using the Services on behalf of a company or other organization, you confirm you are duly authorized to do so, and that entity is bound by these Terms.

• Lawful Purposes: You will not use the Services for any fraudulent, unlawful, or abusive purpose. This includes (but is not limited to) refraining from using Paytently in connection with gambling (unless fully licensed and legal), pornography, illegal drug sales, illicit arms trade, money laundering, terrorist financing, or any other prohibited activities under our internal policies or applicable law. We may publish or provide you with a list of prohibited activities or transactions, which you agree to respect.

• No Violation of Third-Party Rights or Policies: Your use of our Services will not violate any agreement you have with a third party (for example, your bank’s terms) and will not infringe anyone’s rights. If you use a card or bank account to fund transactions, you must be the named holder of that card or account. For example, if you top-up your Paytently Account using a debit card, that card must belong to you.

• Account and Credential Security: You are responsible for keeping your Paytently Account credentials (login ID, password, 2FA codes, etc.) and any Payment Instruments (like cards or PINs) safe. Do not share your security details with anyone or allow any unauthorized person to use your Account. If you suspect your credentials or card have been lost, stolen, or compromised, you must contact us immediately (and in the case of a card, you should also immediately block it via the app or by contacting our support). Further details on liability for unauthorized transactions are in Section 7.

• Use for Intended Purpose: You will use the Services only as intended and not attempt to tamper, hack, modify, or otherwise undermine our security or functionality. You will not misuse the platform (for example, by uploading malware, attempting phishing, or engaging in any activities that threaten our systems or other users).

• Compliance and Cooperation: You will provide us with any information or documentation that we reasonably request to comply with our legal obligations (for example, anti-money laundering checks). You will not withhold information or provide misleading information when asked about the nature of a transaction or the source of funds.

• Joint Accounts or Third-Party Data: If you use our AIS to retrieve data from a joint bank account, you affirm you have authority from the other joint account holder to do so. If you provide us with personal data of any third party (for instance, details of a payment beneficiary), you confirm you have their consent or another valid legal basis to do so.

• Business Use: If you are using a Paytently Account for business purposes (for example, receiving customer payments), you must not treat it as a consumer account. You are responsible for any taxes, obligations or merchant responsibilities arising from payments you receive. You also agree to any additional terms we may require for business accounts. In particular, if you use Paytently’s services to accept card or other payment instrument transactions as a merchant, you agree to adhere to all applicable card network rules and any instructions we provide regarding the proper acceptance of payments and handling of customer data. You are responsible for all chargebacks, reversals, and related fees or fines that occur on payments received by you (for example, if a customer disputes a transaction or a payment is unauthorized). We reserve the right to deduct such amounts from your Account or require reimbursement, in line with these Terms and network rules. We may also require business account users to maintain a reserve or undergo additional due diligence based on the risks associated with your business.

• Prohibited Uses: Without limiting the above, you must not use your Paytently Account or any Service in connection with any of the following:

(a) any activity that is illegal or contravenes any economic/trade sanctions;

(b) fraud, scam, or pyramid schemes;

(d) the sale or purchase of counterfeit goods, illicit substances, or prohibited digital content;

(e) obscene or offensive activities; or

(f) any transaction that violates card network rules or banking regulations.

Paytently reserves the right to update this list of prohibited activities at any time and will notify users as appropriate. Using the Services in any prohibited manner is grounds for immediate suspension or termination of your Account (Section 12) and may be reported to law enforcement or regulators as required.

You agree that you are liable for any losses or damages suffered by Paytently or any third party as a result of your breach of these user responsibilities or other provisions of these Terms. If you become aware of any misuse of the Services or any security incident (for example, if you suspect someone has gained unauthorized access to your Account or if you receive a payment in error), you must notify us immediately.

6. Fees and Charges

No Hidden Fees: Paytently is committed to transparent pricing. Any fees and charges applicable to the Services are outlined in our Fee Schedule, which is provided to you during onboarding and available on our website. By accepting these Terms, you also agree to pay the fees as set out in the Fee Schedule for the Services you use.

Account Fees: We may charge periodic fees for maintaining your Account or certain payment instruments (for example, a monthly account fee or annual card fee), as detailed in the Fee Schedule. Transaction fees (such as a fee per transfer or currency conversion) may also apply. If you are a consumer, many basic services may be free of charge, but some special services (for example, outgoing international transfers, expedited transfers, or paper statements) might carry a fee. All fees will be clearly disclosed to you in the Fee Schedule or at the point of initiation of a transaction, as required by law.

Payment of Fees: Fees will typically be deducted from your Paytently Account balance. You authorize us to deduct any payable fees from any funds we hold on your behalf in any of your Accounts with us. If you owe fees or other amounts to Paytently and your Account balance is insufficient, we may, after giving you notice, recover the amounts via any lawful means, including offsetting against incoming funds or other accounts you hold with us. We will not charge interest on unpaid fees, but persistent negative balances may lead to suspension of service.

PIS and AIS Fees: Paytently does not charge consumers a fee for using Payment Initiation Services or Account Information Services provided via a third-party (for example, when you use Paytently to pay an online merchant or to aggregate data). We provide these services free to the end-user; any costs are generally borne by the merchant or integrated into the merchant’s pricing. (Note: Your own bank will not charge you extra for using a regulated PIS/AIS service, beyond any normal transaction fees it already charges.) However, you are responsible for any third-party costs that may arise, such as data or internet charges by your mobile provider, or any fees your bank ordinarily charges for outgoing transfers or currency conversion, if applicable.

Currency Conversion Fees: If your transaction involves converting currency (for example, sending money in USD from a EUR balance), a conversion fee or margin will apply. This will either be included in the exchange rate quoted or listed as a separate fee. We will always disclose the exchange rate (or reference rate + markup) applied to a conversion before you confirm the transaction. By proceeding with a multi-currency transaction, you acknowledge that the exchange rate may vary and that we apply a margin over the base market rate. We do not guarantee that our rate will be the most favorable available at any given time, but we ensure rates are applied in a neutral and non-discriminatory manner.

Changes to Fees: We reserve the right to change our fees in the future. If we increase or add new fees for existing Services, such changes will be communicated to you in advance in accordance with Section 11 (Changes to Terms). For consumer Accounts (framework agreements), we will give you at least 2 months’ notice of fee changes when required by law. You have the right to terminate the Services without charge before any such change takes effect if you do not agree (see Section 12 on termination). Your continued use of the Services after the effective date of a fee change constitutes your acceptance of the new fees. Our notice will remind you of this right. (For clarity, minor changes that do not negatively affect your rights – such as reductions in fees or typographical corrections – may be made without prior notice, but will be reflected in the latest Terms on our website.)

7. Security and Unauthorized Transactions

Keeping Your Account Secure: Security is a shared responsibility. Paytently implements robust security measures to protect our systems and your data, including encryption and strong customer authentication. However, you must also play your part in safeguarding your Account and Payment Instruments. This means following the security obligations outlined in Section 5 (for example, protecting your passwords and cards). We are required under EU law to apply strong customer authentication (typically two-factor authentication) for electronic payments and account access in most cases. You agree to cooperate with all security measures we implement, such as entering verification codes or using authentication apps when prompted, to ensure compliance with these requirements.

You must: (a) keep your login credentials (username, password, PINs, authentication codes) confidential; (b) not share or write down your passwords or PINs in a way that can be recognized by others; (c) use up-to-date antivirus and security software on any devices you use to access the Services; and (d) regularly check your Account statements and notifications. If we issue you a card or other physical token, store it safely and separately from any PIN or sensitive information.

Reporting Unauthorized Use: If you believe your Paytently Account or Payment Instrument has been accessed or used by an unauthorized person, or if it is lost or stolen, you must notify us immediately. You can do so by contacting our Support team through the website or by email/phone as provided in the contact section. We have a 24/7 emergency channel for reporting lost or stolen cards or suspected fraud. Additionally, if the security of your personal bank account credentials used for PIS/AIS may have been compromised (for example, you notice unknown bank transactions after using our PIS), inform both us and your bank without delay. Prompt reporting is crucial: the sooner you inform us, the better we can prevent further misuse. Delay in notification may affect your ability to recover losses.

Unauthorized Transactions – Your Liability: In the event of an unauthorized payment transaction from your Account (for example, a fraudulent transfer that you did not authorize), as long as you have not acted fraudulently or with gross negligence, your maximum liability is €50 for any losses incurred before you reported the issue to us. This €50 cap is in line with EU law and covers cases like lost/stolen cards or hacked credentials used without your permission. If you report the unauthorized use without undue delay and certainly within 13 months from when the transaction was debited (for consumer accounts), we will investigate and refund the unauthorized transaction amount promptly, usually by the end of the next business day after determining it was unauthorized. You will be restored to the financial position you were in had the unauthorized transaction not occurred (including reimbursement of any fees or interest charged as a result).

However, if we have evidence that you acted fraudulently, or failed to keep your security credentials safe (with gross negligence), or you intentionally did not uphold the security obligations in these Terms, then you may be liable for all resulting losses and the €50 cap will not apply. For example, if you knowingly share your password or PIN with someone, or you were grossly negligent in handling your card (for example, writing your PIN on it), you may bear the full loss. We will consider all circumstances of the unauthorized transaction when determining liability, in compliance with applicable laws.

Once you have reported an issue to us (for example, notified us that your card is stolen or your account credentials are compromised), you are not liable for any further unauthorized transactions from that point onward – any subsequent unauthorized charges are on us, except if you committed fraud. We will provide means for you to easily prove that you notified us (such as written confirmation or a reference number for your report).

Errors or Incorrect Transactions: If you notice a payment that was executed incorrectly or not executed at all (and you were expecting it), you must also inform us as soon as possible (at the latest within 13 months for consumers). We will trace and rectify any payment errors that are within our control. Section 14 (Liability) below details our and your responsibilities for payment execution. In general, if the error was on our side, we will refund or fix it; if you provided wrong instructions, we will assist you in attempting to recover the funds (and may charge a reasonable fee for doing so) but cannot guarantee success.

User’s Responsibility for Errors: Please double-check all payment instructions you give us (recipient details, amounts, etc.). If you send money to the wrong account due to entering incorrect details, we will make reasonable efforts to help recover the funds, but we may charge a fee for doing so (as per our Fee Schedule) and cannot guarantee success if the funds cannot be retrieved. We are not liable for losses if you provided incorrect payment information. If funds are sent to us or to your Account by mistake (for example, due to someone else’s payment error), you agree to cooperate in returning the funds. We may debit your Account to reverse an obvious error payment that you were not entitled to, upon notice to you.

Blocking and Unblocking: We may block or disable your Account or Payment Instruments for security reasons or if we suspect unauthorized or fraudulent use. For example, if we notice unusual activity on your Account or multiple failed login attempts, we may temporarily suspend access. Where possible, we will inform you in advance or immediately after blocking and give the reasons, unless such information would compromise security or is unlawful. We will unblock the service or replace your credentials as soon as the reason for suspension is resolved.

Incident Reporting: Paytently has implemented measures to manage and report security or operational incidents. In the event of a major incident (for example, a significant technical outage or data breach affecting payment services), we will notify the MFSA and other relevant authorities without undue delay, in accordance with applicable incident-reporting rules. If a security incident results in a personal data breach that poses a high risk to your rights, we will also inform you as required under data protection laws. We maintain plans to promptly address and mitigate the effects of any such incidents, and we continuously work to strengthen our systems against potential threats.

8. Execution of Payments and Delivery of Services

When you initiate a payment through Paytently (either from your Paytently Account or via PIS from your bank), we will execute it in accordance with these Terms and the timing requirements of applicable law. The following outlines how we handle execution:

8.1 Submission of Payment Orders: To issue a payment order (for example, a transfer out of your Account), you must follow the instructions on our platform (or provide the order via any interface we support). You will typically need to provide the recipient’s payment details (such as IBAN or other identifier), the amount, currency, and any reference. We may ask you to confirm the order with a security step (like entering a code sent to your phone or confirming via our app) to authenticate the instruction. Once a payment order is received by us, it becomes irrevocable – you cannot cancel it after the point in time we have indicated as the cutoff. For recurring or future-dated orders (like standing orders), you can cancel up until the end of the business day before the scheduled execution date.

8.2 Cut-off Times and Execution Times: Payment orders received by us on a business day before our cut-off time (as published on our website or otherwise communicated, which may depend on the currency and destination) will be processed the same day. Orders received after the cut-off or on non-business days will be deemed received on the next business day. We will credit outgoing payments to the payee’s bank by the end of the next business day following receipt of your order for EUR payments within the EEA (this may extend by an extra day for paper-initiated payments or certain other currencies). In practice, many Euro payments (SEPA transfers) will arrive within the same day or the next day. Payments outside the EEA or in non-EUR currencies may take longer depending on correspondent banks, but we will execute them as quickly as possible. Paytently’s Payment Initiation Service transactions rely on normal banking clearing – while many will be instant or same-day, in exceptional cases it may take up to three (3) business days for the funds to reach the merchant’s account. We will notify you (through the app/website or via confirmation message) when your payment order is received and being processed. Incoming payments to your Account will be credited and made available to you immediately after we receive them, with the value date being the date we received the funds.

8.3 Limits: We may impose limits on the amount or frequency of transactions for security and compliance reasons. For example, your Account may have a maximum daily transfer limit, or your card might have per-transaction and daily spending limits. These may be set based on our risk assessment and regulatory requirements. We will inform you of relevant limits (either in your Account settings or upon attempting a transaction that would exceed a limit). We may adjust limits from time to time, and will notify you appropriately of significant limit changes.

8.4 Refusal of Payment Orders: We may refuse to execute a payment order in certain circumstances, for instance: if your Account has insufficient funds; if the payment instruction is unclear or incomplete; if the beneficiary details provided are invalid; or if the transaction would violate these Terms or any law/sanction. If we refuse an order, we will let you know (via the platform or other means) and, if possible, provide the reason and how to correct any errors (unless prohibited by law from informing you). Paytently is not liable for any delay or failure caused by a rightful refusal of an order that meets legal and contractual conditions for refusal.

8.5 Merchant Payments (Acquiring): If you use Paytently to pay a merchant (whether via PIS, card, or another method we facilitate), Paytently may be acting as a payment service provider to that merchant (for example, as an acquirer processing the card transaction). In such cases, our role is to process your payment to the merchant, but the purchase itself is strictly between you and the merchant. We are not responsible for the quality, safety, delivery, or any other aspect of goods or services you buy from others using our Services. The merchant’s terms and conditions (and refund policy) apply to your purchase. We simply ensure your payment is transmitted. If you have a dispute about a purchase (for example, the item was never delivered or is faulty), you should resolve that directly with the merchant. If you suspect the transaction itself was unauthorized or incorrect, you can also raise a dispute with us or (in the case of a card payment) with your card issuer through chargeback rights; we will assist as required by law and network rules.

8.6 Receiving Payments: If you receive funds into your Paytently Account (for example, someone sends you money or you receive a refund), we will credit your Account promptly. You should be aware that received payments might be subject to reversal if, for instance, the sender’s bank reverses the payment or a card payment you received is charged back. If funds are added to your Account and later need to be returned (for example, due to a chargeback or sender error), we reserve the right to deduct those funds from your Account. We will notify you if this happens and provide an explanation. We also may freeze or hold a received payment amount if required by payment network rules (for example, delaying availability of funds for a short period to ensure the payment is not disputed).

9. Personal Data and Privacy

Protecting your personal data is very important to Paytently. By using our Services, you acknowledge that certain personal data will be processed by us in order to provide the Services and for related regulatory and business purposes. This may include data we collect from you directly, as well as data retrieved from third parties (for example, via AIS or information from identity verification services). We process personal data in accordance with all applicable data protection laws, including the EU General Data Protection Regulation (GDPR). Please refer to our Privacy Policy (available on our website) for detailed information on how we collect, use, share, and protect your personal data. Our Privacy Policy also outlines your data protection rights (such as rights of access, rectification, erasure, objection, etc.). By agreeing to these Terms, you also confirm you have read our Privacy Policy.

In summary, the personal data we process may include your identification details, contact information, financial information (account balances, transaction history), and any other data needed to provide the Services or comply with legal obligations. We use this data for purposes such as: verifying your identity, preventing fraud and money laundering, executing your payment instructions, communicating with you, providing customer support, improving our Services, and as otherwise described in the Privacy Policy. We may share your data with third parties only in line with the Privacy Policy – for example, with our banking partners (to execute a payment), with merchants or parties you are paying or sharing data with (when you use PIS or AIS, with your consent), with service providers who help us operate (under strict confidentiality arrangements), or with government authorities/regulators as required by law. We will never sell your personal data to unaffiliated third parties for their own marketing.

By using Paytently, you also consent to our use of anonymous or aggregated data for statistical and analytical purposes, as long as it is not identifiable to you. If you opt in to marketing, we may send you news or offers, but you can opt out at any time. Please review the Privacy Policy for information on cookies and online data collection if you use our website or app.

If you have questions about our data practices, you can contact our Data Protection Officer (DPO) or support team as provided in the Privacy Policy. Remember, using AIS/PIS may involve us retrieving data from your external bank – we will only do so with your explicit consent for each session and solely to provide the service requested. We implement strong security to protect data in transit (for example, using encryption for AIS/PIS communications) and do not retain sensitive banking credentials.

Legal Bases and Retention: We process personal data on specific legal bases as allowed by the GDPR. Primarily, we process data because it is necessary to perform our contract with you (to provide the Services) and to comply with our legal obligations (for example, our obligations to conduct KYC and monitor transactions for AML purposes). In addition, some processing is based on our legitimate interests – for instance, we have a legitimate interest in protecting our platform from fraud and in improving our services – but we only rely on this basis after considering your privacy rights. Where required by law, we will obtain your consent (for example, for sending marketing communications or when accessing certain account information via AIS). We retain your personal data only for as long as necessary to fulfill the purposes described in these Terms or as mandated by law. For example, we are generally required under AML regulations to retain customer due diligence and transaction records for five years after the end of our business relationship. We apply similar retention periods for other records as applicable. Once the applicable retention period expires, we will delete or anonymize your data in accordance with our policies.

Your Data Protection Rights: As a data subject, you have various rights under the GDPR and Maltese data protection law. These include the right to request access to the personal data we hold about you, the right to correct or update your data if it is inaccurate, the right to request deletion of your data (in certain circumstances), the right to restrict or object to our processing of your data, and the right to data portability. You also have the right not to be subject to a decision based solely on automated processing (except as permitted by law). These rights are subject to conditions and exceptions as set out in the law and explained in our Privacy Policy. If you wish to exercise any of these rights, you can contact our DPO or support team for assistance. In addition, you have the right to lodge a complaint with the Maltese data protection authority (Office of the Information and Data Protection Commissioner, or IDPC) if you believe that we have infringed your data protection rights in processing your personal data. We would, however, appreciate the chance to address your concerns directly first, so please consider reaching out to us to resolve any issue.

10. Service Availability and Maintenance

Paytently strives to provide Services of high quality and reliability. However, we do not guarantee that the Services will be uninterrupted or error-free at all times. There may be occasions when certain Services or features are temporarily unavailable, for example due to system maintenance, upgrades, or unanticipated technical issues. We will use reasonable efforts to inform you in advance of any planned maintenance downtime via our website or email, and to schedule maintenance during off-peak hours to minimize disruption. In case of unplanned outages or technical problems, we will work to restore the Services as soon as possible.

No Liability for Outages: To the extent permitted by law, Paytently will not be liable for any losses or inconvenience you may suffer due to Service unavailability, system delays, data errors, or similar technical issues. This includes any inability to initiate or complete transactions due to downtime, or any inaccurate information provided by our AIS (for instance, if the data from your bank is outdated or wrong). That said, if a technical malfunction causes a payment to execute incorrectly or not at all, we will of course correct the error and take steps per Section 14.

Security and Improvements: Occasionally, we may need to suspend the Services temporarily to implement technical improvements, updates, or security patches. In addition, we might modify the Services or their interfaces to add new features or comply with changes in legal requirements. Such changes are part of our effort to provide a better and compliant service. Where a change significantly affects how you use the Service (beyond minor bug fixes or UI improvements), we will communicate this to you (see Section 11 on changes).

Third-Party Services: Some aspects of our Services depend on third-party providers (for example, banking networks, telecommunications providers, internet access providers). We are not responsible for any failure or delay caused by these external services. For example, if your mobile network fails and you cannot receive a two-factor authentication SMS, that issue is outside our control. We will, however, make reasonable efforts to work with these providers to resolve issues that impact our Service. Please note: If we outsource any critical functions or rely on subcontractors to support our Services, Paytently remains fully responsible for fulfilling our obligations to you under these Terms and applicable law. We conduct due diligence and ongoing oversight of our service providers to ensure that any outsourced services meet our standards and regulatory requirements.

Your Equipment: You are responsible for obtaining and maintaining any equipment or software needed to access our Services (such as a computer, smartphone, internet connection, and an up-to-date browser or app). Paytently is not liable for any failures or incompatibilities of your own technology that may affect the Service (for instance, using an outdated browser that isn’t supported). We advise keeping your devices and apps updated to the latest versions and ensuring they meet any minimum requirements we may specify.

11. Changes to Terms and Services

Changes to these Terms: Paytently may amend these Terms from time to time to reflect changes in our Services, adapt to new legal or regulatory requirements, or for any other legitimate business reason. We will notify you of any material changes to the Terms in a durable medium (for example, by email or secure message via your Account) at least 2 months before the change is due to take effect, if you are a consumer or micro-enterprise user, or any longer period required by law. For other users (for example, corporate clients not protected under consumer regulations), we will give a reasonable notice period. If you do not agree with the proposed changes, you have the right to terminate your agreement with us and close your Account at no cost before the date the changes would apply. If you do not terminate and continue to use the Services after the effective date, you will be deemed to have accepted the updated Terms. Our change notice will remind you of your right to reject changes by terminating the Services. Minor changes that do not negatively affect your rights (such as editorial corrections or enhancements that benefit you) may be made without prior notice, but will be reflected in the latest Terms available on our website.

Changes to Services: We reserve the right to change, suspend, or discontinue any of our Services or introduce new services at any time. For example, we may add a new feature or retire an old feature. If a change in Service will have a material impact on you (for instance, if we decide to discontinue a particular payment method you are using), we will notify you in advance when feasible. In some cases, regulatory or security requirements might require us to make immediate changes; in those situations, we will inform you as soon as possible after. We also reserve the right to upgrade or update our software and systems. You may be required to install the latest version of our mobile app or use an updated browser version to continue using the Services effectively.

Right of Withdrawal (Consumers): If you are a consumer (or a micro-enterprise treated as a consumer under Maltese law) who has entered into these Terms as a distance contract (for example, online sign-up), you have a legal 14-day “cooling-off” period. This means you may withdraw from this agreement within 14 days of the date of accepting the Terms, without giving any reason. To exercise this right, you must notify us (for example, via the platform or by email) within the 14-day period. If you exercise the right of withdrawal, we will close your Account and terminate the agreement. We will refund any available balance to you (after deducting any fees for services you have used, if applicable). Note that if you made transactions during the 14-day period, you may still be responsible for those transactions and any related fees – the right of withdrawal allows you to cancel the contract going forward, but it does not undo transactions already executed at your request. This withdrawal right applies only at the beginning of our relationship; thereafter, termination is governed by the next section. Business users or sign-ups made in person are generally not entitled to this 14-day cooling-off.

12. Suspension and Termination

12.1 Suspension by Paytently: We may suspend or restrict your Account or certain Services immediately (and without prior notice if justified) in a number of circumstances, including: (a) if we suspect that your Account has been accessed without authorization or compromised; (b) if we suspect your Account is being used for fraud, money laundering or other criminal activity; (c) if you are in serious breach of these Terms or we have reason to believe you will be (for example, you are engaging in prohibited activities or providing false information); (d) if continued operation of your Account might cause us liability or be in violation of law or regulatory requirement; or (e) if there are technical issues that require suspension to protect the system (for example, a severe software vulnerability). In addition, if required by law or instructed by a regulator or card network, we may have to suspend your Account. We will notify you of a suspension and the reasons for it (unless legally barred from doing so) as soon as possible, via email or through our platform. We will reinstate your Account or lift the restriction as soon as practicable after the reason for suspension has been resolved or found to be unsubstantiated.

12.2 Termination by User: You have the right to terminate this agreement and close your Paytently Account at any time, after any obligations in progress are settled. If you wish to do so, you should contact us in writing (for example, via the app’s support channel or by email) with at least one month’s notice of your intention to terminate. We can arrange for a sooner closure if mutually agreed. Closing your Account is free of charge, provided your Account has been open longer than any minimum period stated (if any). If you close your Account within a very short time of opening (for example, under 6 months), we reserve the right to charge a small account closure fee if stated in our Fee Schedule. When giving notice, you must provide details of where to transfer any remaining balance. You are responsible for transferring or withdrawing any funds from your Account prior to closure. We will normally transfer remaining funds to your nominated bank account (in your name) within 5–10 business days of the termination date. You must not close your Account to evade investigations; if your Account is under review (for example, for potential fraud), we may postpone closure until the issue is resolved. Once terminated, you will lose access to the Services (so be sure to download any records you may need beforehand). Termination of the agreement will not affect any rights or obligations incurred before the termination date – for example, you will still owe any outstanding fees, and we will still attempt to recover chargebacks that come in after closure.

12.3 Termination by Paytently: Paytently may terminate this agreement and close your Account by providing at least 15 days’ notice (in writing, for example via email). In practice, for consumer accounts we will usually give you more notice (such as 2 months) unless a shorter period is allowed by law or justified by circumstances. We may terminate for convenience (business reasons) or if we decide to cease offering our Services in your region. Additionally, Paytently reserves the right to terminate immediately (with no advance notice) in certain serious cases, including but not limited to: (a) if you are in material breach of these Terms (for example, using the account for illegal purposes, or repeated violations of acceptable use policies); (b) if you fail to satisfy KYC or ongoing due diligence requirements, or we discover that you provided false information during onboarding; (c) if you become insolvent, bankrupt, or subject to any proceeding that, in our opinion, makes it risky to continue offering you an account; (d) if continuing our relationship would cause Paytently to violate any law or regulatory obligation (for instance, if you become subject to economic sanctions); or (e) if you engage in behavior that is threatening or abusive towards our staff, or that damages our platform (for example, attempting to hack our systems). We will notify you as soon as possible after terminating, and where appropriate, provide the reason for termination.

If we terminate, we will also provide instructions on how to withdraw any remaining funds. In some cases of immediate termination (for example, termination due to suspected fraud or illegal activity), we may be required by law to freeze or hold your funds pending investigations or as directed by authorities. Once any hold is lifted, we will release the funds to you, less any lawful deductions.

12.4 Effects of Termination: Upon termination (by either party), your right to use the Paytently Services ceases. You must destroy or return any materials or devices we provided (for example, cut up any physical card). Any licenses or rights granted to you under these Terms also end. However, sections of these Terms which by their nature should survive termination (such as provisions on liability, dispute resolution, and our rights to recover fees or losses) shall survive and remain in effect. Termination does not relieve either party of obligations incurred prior to termination. We will give you, upon request, a final statement of your Account and/or information about your transactions up to the date of termination (free of charge). We recommend you download your transaction history from the platform prior to closure for your records.

13. Customer Support and Complaints

13.1 Contacting Support: We are here to help you with any questions or issues. You can find general information about our Services, including these Terms, on our website at any time. For specific inquiries or technical support, you may contact our Support team via the support contact form on our website or through the app. We will communicate with you electronically (normally in English, as noted in Section 1) unless otherwise agreed. If you prefer to communicate in another language or require translation, please let us know – we will accommodate where possible or where required by law. You can also request communications in hard copy (paper), and we will send those by ordinary mail when needed. Our support hours and contact channels are published on our website. In case of lost/stolen cards or urgent security issues, a 24-hour helpline or emergency procedure will be provided.

13.2 Complaints Handling: Providing a high-quality service is important to us, and we want to know if you are not satisfied. If you have a complaint about our Services or believe we have made an error, please contact us as soon as possible. The fastest way is usually via our dedicated complaints form on the website or by emailing our Complaints Manager at the address provided below. You may also send a written letter to:

Complaints Manager

Paytently PI Limited

The Adelaide, 230/231 Tower Road,

Sliema, SLM 1601, Malta.

Please outline the details of your complaint, including relevant transaction information and your desired resolution. We will acknowledge receipt of your complaint within 2 business days. Our complaints team will investigate and provide you a substantive response as soon as possible, typically within 15 business days of receiving the complaint. If for any reason we cannot respond fully within 15 business days, we will send you a holding reply by then to let you know the cause of delay and the expected timeframe for a final response (which will be within 35 business days at most, in line with regulatory requirements). Our final response will be sent in writing (usually via email) and will address the issues raised and any proposed resolution.

If you are still not satisfied with our final response, or if we fail to respond within the above timeframes, you may be entitled to escalate the complaint to an independent dispute resolution body. As Paytently is licensed in Malta, consumer clients (and in some cases micro-enterprises) can refer unresolved complaints to the Office of the Arbiter for Financial Services in Malta. The Arbiter for Financial Services (OAFS) is an autonomous and independent body set up by law to handle disputes between customers and financial services providers. You can contact the Arbiter at: Office of the Arbiter for Financial Services, First Floor, St Calcedonious Square, Floriana FRN1530, Malta. Email: info@financialarbiter.org.mt. More information is available on the Arbiter’s website. (Consumers residing in another EU country may instead use the European Online Dispute Resolution (ODR) Platform to forward the complaint to the Maltese Arbiter.) Of course, you always have the right to seek remedies through the courts as described below, but we encourage attempting resolution with us and via the Arbiter/ADR first. (Note: The OAFS can accept complaints from individual consumers and from micro-enterprises, as defined under Maltese law, against MFSA-licensed entities.)

A summary of our internal complaints handling procedure is available on our website. We take complaints seriously and will try our best to resolve issues and improve our services based on your feedback.

14. Liability of Paytently and the User

14.1 General Liability Principles

Paytently will be liable to you for direct losses or damages caused by our breach of these Terms or our negligence, but only to the extent such losses were reasonably foreseeable and directly result from our actions. We are not liable for indirect, incidental, or consequential losses that you might incur, such as lost profits, loss of opportunity, or reputational harm, except where the law does not allow us to exclude such liability or if such losses are a direct result of our gross negligence or willful misconduct. In particular, we will not be liable for losses arising from our compliance with legal or regulatory requirements or for events beyond our reasonable control (see Force Majeure in Section 15).

Paytently’s Services rely on various systems and data sources (including your bank, in the case of PIS/AIS). We cannot guarantee that those external systems will always function correctly or be available. We do not accept responsibility for any harm or loss resulting from unauthorized access to your Account or data where you failed to comply with your security obligations (for example, if your email was hacked due to your own negligence and that led to account compromise), or from other events outside our control like hacking or cyberattacks that are not caused by a breach on our side. That said, if our own systems are breached due to our negligence and your data or funds are compromised, we accept responsibility for that loss.

You, the User, also have a duty to mitigate any losses. If something goes wrong, you should take reasonable steps to minimize the damage (for example, notifying us and your bank immediately if you suspect fraud, so that losses can be limited). If you fail to do so, any avoidable additional loss may not be recoverable from us.

Nothing in these Terms shall exclude or limit liability where it is unlawful to do so, such as liability for death or personal injury caused by negligence, or liability for our fraud or fraudulent misrepresentation. Also, any statutory rights you have as a consumer are not affected by these Terms.

14.2 Paytently’s Liability for Payment Transactions (Account Services)

For payments out of your Paytently Account (except PIS transactions, which are addressed separately below), Paytently is liable for the correct execution of the payment order, unless we can prove the payee’s bank received the amount. If a payment never reaches the beneficiary or is executed incorrectly (for example, the wrong amount) and we were at fault, we will refund the transaction amount and restore your account to the state it would have been in had the error not occurred (including refund of any fees or interest charged as a result of the error). This will be done without undue delay once we have confirmed the error. We will also, if applicable, compensate you for any direct charges you incurred due to the failed/incorrect payment and any interest you must pay as a result. If the payment was only late in arriving, you may request that we ensure the credit value date for the payee is adjusted to reflect the date the payment should have been received.

If you were the payee expecting a payment (for example, someone sent money to your Paytently Account) and it didn’t arrive or arrived incorrectly, Paytently is liable to you only if we actually received the funds from the payer’s bank and then failed to credit them properly to your Account. In other words, if someone sent you money through Paytently and we received it, we will credit your Account correctly or, if we made an error, rectify it. If the payer’s bank didn’t send us the money in the first place, we are not responsible for that — the payer’s bank would be liable in that case.

If you initiate a payment and later realize you provided wrong details (such as a wrong IBAN), we are not liable for executing the payment as per your faulty instructions. However, as noted above, we will make reasonable efforts to help you recover the funds. We may charge a fee for recovery attempts (as provided in our Fee Schedule). If we cannot retrieve the funds (for example, because they have been withdrawn by the unintended recipient), you may need to liaise with the beneficiary bank or take legal action to attempt recovery.

14.3 Paytently’s Liability for PIS Transactions

When you use our Payment Initiation Service to instruct a payment from your external bank account, Paytently is responsible for successfully transmitting your payment order to your bank and for properly authenticating with your bank, but your bank is ultimately responsible for executing the payment transfer correctly. This means that if the payment is initiated successfully on our end (we sent the correct instruction) and your bank received that instruction, any failure or delay in actually moving the funds to the beneficiary is the responsibility of your bank (the account-holding institution). In case we caused an error in the initiation (for example, if we transmitted the wrong account number to your bank, or initiated a different amount than you approved), then we will be liable and will cooperate to trace or correct the payment. If an error in a PIS transaction is attributable to us, we will promptly refund you any loss and work with your bank to ensure the payment is completed or money is returned. If a PIS-initiated payment is not executed or is defective due to our fault, we will take reasonable steps to trace the payment and inform you of the outcome. We will not double-charge you for a payment that did not go through (for instance, if we have to re-initiate it).

Important: If you initiate a payment via PIS and it succeeds, you cannot cancel it through Paytently after the moment you authorize it with your bank (it becomes irrevocable at that point, as explained in Section 3.5). Any disputes about an executed PIS payment (for example, claiming it was unauthorized, or issues with goods not being delivered) should be raised with your bank and/or the merchant. Paytently does not have the ability to revoke a payment once it has been sent to the banking system. Also, Paytently is not liable for the underlying purchase you made from a merchant using PIS. Any contract of sale is between you and the merchant, so we disclaim liability for issues like non-delivery or product quality.

14.4 Paytently’s Liability for AIS

When providing Account Information Services, Paytently is responsible for accurately retrieving and displaying the data from your external bank at the time of your request. If we fail to retrieve data or present incorrect data due to our error, we may be liable for direct damages you incur as a result (for example, if you incur a fee or overdraft because we wrongly indicated you had sufficient balance when you did not, due to a misreading of data on our part). However, we rely on your bank to provide the information – we are not liable for any inaccuracies in the information held by or provided by your bank. For instance, if your bank’s system gives us outdated or wrong data, you must resolve that with your bank. We do not alter data obtained from your bank. If our AIS service is not provided at all, or is provided incorrectly due to our fault, and this causes you damage, we will compensate you for those direct damages. Similar to PIS, any subsequent use of the data by a third-party (the “Supplier” or merchant you shared it with) is governed by your agreement with that third party; Paytently isn’t liable for what that third-party does with the information or any decisions they make based on it.

14.5 User’s Liability to Paytently

You agree to indemnify and reimburse Paytently for any losses, costs, or damages (including reasonable legal fees) that we suffer as a result of your breach of these Terms, your illegal use of the Services, or your fraud or negligence. For example, if you conduct a transaction that is later determined to be fraudulent or unauthorized and we incur a chargeback or penalty, or if you use the Services in a way that causes us to be fined by a regulator or card network, we may seek to recover those amounts from you. We will inform you of any such claim or liability and, whenever possible, give you an opportunity to respond or remedy the issue before debiting any of your funds. Any deduction of your funds to cover liabilities will be done in line with applicable law and the provisions of these Terms (see also Section 6 on our set-off rights).

14.6 Liability Exceptions and Force Majeure

Neither party will be liable for any failure to perform or delay in performing any obligation (except any payment obligations for sums owed) due to circumstances beyond their reasonable control, as described under Force Majeure in Section 15. Also, if we can demonstrate to you that another bank or payment service provider involved in a transaction (for example, the payee’s bank or an intermediary) is at fault for not processing it correctly or on time, then – as permitted by law – we may not be liable for that portion of the failure (since that other institution would be responsible). In such cases we will make efforts to assist you in recovering the funds or otherwise remedying the situation, as far as reasonably possible.

15. Force Majeure (Events Beyond Our Control)

Paytently shall not be liable for any failure to perform, or delay in performing, any of our obligations under these Terms if such failure or delay is caused by extraordinary events or circumstances beyond our reasonable control (each a “Force Majeure Event”). Force Majeure Events include, but are not limited to: natural disasters (acts of God) such as fires, floods, earthquakes, or hurricanes; wars, riots, civil disturbances, acts of terrorism, or armed conflict; labor disputes like strikes, lockouts, or boycotts (including those affecting us or key service providers); epidemics or pandemics; governmental actions or new laws/regulations that prevent us from offering the Services; power failures or utility outages; cyber-attacks (for example, widespread denial-of-service attacks) or major disruptions of our internet/cloud providers despite reasonable protections; and failures of third-party service providers (such as critical telecommunications or banking infrastructure) that are outside our control.

If such an event occurs, we will make reasonable efforts to minimize the impact on our Services and to resume normal operations as soon as feasible. However, during the continuation of a Force Majeure Event, any obligations that we cannot perform due to the event will be suspended to the extent and for the duration that performance is affected. For example, if a sudden government order freezes all electronic payments, we will be excused from executing transactions until legally permitted to do so.

We will, where possible, inform you of the occurrence of a Force Majeure Event and keep you updated on the status. If a Force Majeure Event persists such that it becomes impossible to fulfill these Terms or the Services must be fundamentally changed, either party may have the right to terminate the agreement per Section 12 without penalty.

Note that general economic conditions or market fluctuations do not constitute Force Majeure. For instance, a mere change in currency exchange rates or an economic recession does not excuse performance of payment obligations; whereas a government-imposed freeze of banking operations would qualify. Also, if an event affects only you (for example, your own internet connection fails), that is not Force Majeure on our side (though it might be on yours).

16. Miscellaneous Provisions

16.1 Intellectual Property

All content, software, and technology provided by Paytently (including our website design, logos, trademarks, and the underlying software/platform enabling the Services) are the intellectual property of Paytently or its licensors. We grant you a limited, revocable, non-exclusive, non-transferable license to use our platform and Services as intended and in compliance with these Terms. You shall not copy, modify, distribute, sell, or lease any part of our intellectual property, nor reverse engineer or attempt to extract the source code of our software, except as permitted by law. The name “Paytently” and related marks are our trademarks; you may not use them without our written permission. If you provide feedback or suggestions regarding our Services, we may use such feedback without obligation to you (we appreciate it, but we’re not required to compensate you). This section survives termination of the agreement.

16.2 Assignment

You may not transfer or assign any rights or obligations under these Terms to anyone else without our prior written consent. The agreement between you and Paytently is personal to you. Paytently, however, may transfer or assign its rights and obligations (in whole or in part) to another entity, for example in the event of a corporate reorganization, merger, acquisition, or transfer of business, provided that such assignment will not adversely affect the service provided to you or your rights under these Terms. We will notify you of any such assignment if it results in a change of the service provider or contractual counterparty. These Terms will be binding on any permitted successors or assigns.

16.3 No Waiver

If either party fails to enforce any provision of these Terms or delays in doing so, it shall not constitute a waiver of that right or provision. For example, if you breach the Terms and we do not immediately take action, we are not giving up our right to do so later. Any waiver of rights shall only be effective if in writing and signed by the party granting the waiver.

16.4 Severability

If any provision (or part of a provision) of these Terms is found by a court or regulatory authority to be invalid, illegal, or unenforceable, this will not affect the validity of the remaining provisions. The invalid part shall, if possible, be deemed modified to the minimum extent necessary to make it valid and enforceable. If modification is not possible, that part shall be deemed deleted. The rest of the agreement will continue in full force and effect.

16.5 Entire Agreement

These Terms, along with any documents expressly incorporated by reference (such as the Privacy Policy and Fee Schedule), constitute the entire agreement between you and Paytently regarding the Services. They supersede any prior agreements, understandings, or communications between you and us, whether written or oral, relating to the same subject matter. In case of any conflict between these Terms and any other Paytently policy or document, these Terms will prevail to the extent of the inconsistency (unless explicitly stated otherwise).

16.6 Relationship of Parties

Nothing in these Terms creates any agency, partnership, joint venture, or employment relationship between you and Paytently. We are an independent service provider. You are not authorized to make any commitments on our behalf, and vice versa. The relationship is that of service provider (Paytently) and customer (you). Neither party is the legal representative of the other, and neither can bind the other in any way.

16.7 Third-Party Rights

These Terms are for the benefit of you and Paytently and are not intended to confer any rights on any third parties (except any person to whom Paytently validly assigns this agreement, as per Section 16.2). No person other than the parties to this agreement shall have the right to enforce any term of it.

16.8 Governing Law

These Terms (and any non-contractual obligations or claims arising out of or in connection with them) shall be governed by and construed in accordance with the laws of Malta. However, if you are a consumer residing in another country, any mandatory consumer protection provisions of your home country’s law will apply for your benefit, to the extent those are more favorable. In any event, reference to Maltese law is only with prejudice to such consumer rights.

16.9 Jurisdiction

Any dispute or claim arising out of or relating to these Terms or the provision of our Services that cannot be resolved amicably or via the complaint process (Section 13) shall be subject to the exclusive jurisdiction of the Maltese courts, unless otherwise required by applicable law. If you are a consumer, you may also have the right to bring an action in the courts of your country of residence for certain disputes – nothing in these Terms will deprive you of any such right under EU consumer law. By agreeing to these Terms, you consent to the jurisdiction of the courts of Malta for the purpose of litigating any disputes that arise, except to the extent a different jurisdiction is required by mandatory law.

16.10 Language

These Terms are drafted in English. If we provide a translation, it is for convenience only. In the event of any inconsistency between the English text and a translated version, the English version shall prevail.

Thank you for choosing Paytently. If you have any questions about these Terms or our Services, please contact us via our website or support channels. We value your trust and look forward to serving your payment needs securely and efficiently.

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Paytently PI Ltd - Terms and conditions