These Terms and Conditions (the 'Terms') govern your use of the Paycio cryptocurrency payment services ('Services'). By accessing this website and using our services, you agree to comply with and be bound by these Terms. Please read them carefully.

Our Services

Paycio app simplifies the process of transferring funds using a mobile number, enabling easy transactions with a simple tap on your mobile device. Whether you're sending money to a friend or making an online purchase, Paycio's interface ensures swift and efficient transactions.

At the core of the Paycio experience is the Unified Crypto Payments Interface (UCPI). This innovative feature seamlessly integrates various cryptocurrency transactions, facilitating rapid and secure transfers.

The UCPI automates digital asset routing, supporting customer-to-customer (C2C), business-to-business (B2B), and business-to-consumer (B2C) interactions. It transforms the management of cryptocurrency payments on a unified platform.

By leveraging the UCPI, Paycio ensures not only efficient digital asset routing but also secure merchant payments and identity validation through mobile numbers. This allows users to make transactions with confidence, knowing their payments are secure and their identities are verified.

Disclaimers For Purchasers

Paycio offers services for cryptocurrency payments. However, despite our best efforts to ensure authenticity and reliability, we cannot guarantee the value or stability of cryptocurrencies.

Due to the volatile nature of the cryptocurrency market, we advise purchasers to fully understand the risks involved. Paycio expressly disclaims any responsibility for any financial losses incurred through the use of our services.

Terms of Use For Merchants

These Merchant Terms of Use (the 'Terms') govern your use of Paycio's products, services, and any other features related to merchant payment acceptance services (the 'Acceptance Services').

By using the Acceptance Services via Paycio's website, API, or any other medium, you ('Merchant', 'you' or 'your') agree to be bound by these Terms. You affirm that you have read, understood, and accepted all the terms, including but not limited to Section 18.7 regarding Governing Law, Arbitration, and Waiver of Class Actions.

Our Regulatory Compliance

Paycio adheres to all applicable US laws and regulations, including the Bank Secrecy Act, the economic and trade sanctions programs managed by the US Department of Treasury's Office of Foreign Assets Control (OFAC), the USA PATRIOT Act, and other anti-money laundering (AML) and anti-terrorist financing (ATF) regulations.

Paycio is a registered Money Service Business with the Financial Crimes Enforcement Network (FinCEN) of the United States Department of the Treasury and is licensed as a money transmitter in states where applicable laws require such licensure.

Additionally, Paycio complies with Dutch and EU regulations, including the Dutch Act on the Prevention of Money Laundering and Terrorism Financing ('Wwft') and the Dutch Sanctions Act (Sanctiewet 1977). Paycio is registered with and overseen by the Dutch Central Bank (De Nederlandsche Bank N.V.) in accordance with Section 23b(1) of the Wwft.

General Provisions

By using Paycio's services, you agree to abide by these Terms and any applicable laws or regulations. Paycio reserves the right to modify or amend these Terms at any time without prior notice, and such modifications will be effective upon posting.

Governing Law

These Terms are governed by the laws of [Insert Jurisdiction], and any disputes arising from these Terms will be subject to the exclusive jurisdiction of the courts in [Insert Jurisdiction].

Representation and Warranties

You represent and warrant that:

1. The individual accepting these Terms on behalf of the Merchant is of legal age and has the necessary authority to bind the Merchant. You also confirm that you have the right, power, authority, and ability to fulfill your obligations under these Terms and use the Acceptance Services.
2. Your business entity is duly organized, validly existing, in good standing under the laws of the state and country of its formation, and is duly qualified and in good standing in each jurisdiction where the conduct of its business requires it to be.
3. At the time you agree to these Terms, you are not a consumer as defined in and used for the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht) and the Dutch Civil Code (Burgerlijk Wetboek). You agree to notify us immediately if you become a consumer at any time. For clarification, a consumer is an individual acting for purposes other than a trade, business, or profession.
4. You must ensure that your use of the Acceptance Services does not violate any applicable international, federal, state, or local laws or regulations, including tax laws. Additionally, you must comply with all applicable anti-money laundering (AML) and anti-terrorist financing (ATF) laws and regulations.
5. All information you have provided to us, and may provide to us in the future, is and will continue to be truthful and complete. You will update and modify this information on a timely basis to maintain its accuracy.

Prohibited Use

You agree not to participate in the following Prohibited Uses while using the Acceptance Services or interacting with other users or third parties. This list is not exhaustive, and we reserve the right to update it at any time. We have the exclusive discretion to evaluate whether an activity constitutes a Prohibited Use.

If you are unsure whether your use of the Acceptance Services falls under these categories or have any questions about how these rules apply to you, please email us at [email protected]

1. Unlawful Activity: Engaging in actions that violate or assist in the violation of any law, statute, ordinance, or regulation, including applicable sanctions programs such as those of the U.S. Department of Treasury’s Office of Foreign Assets Control (OFAC) and the Dutch Sanctions Act. This includes activities involving proceeds from unlawful activities, or the publication, distribution, or dissemination of unlawful material or information.
2. Abusive Activity : Actions that impose an unreasonable or disproportionately large load on our infrastructure, or that interfere with, intercept, or expropriate any system, data, or information. This includes transmitting or uploading harmful material such as viruses, trojan horses, or worms to our computer systems, networks, or sites. Attempting to gain unauthorized access to our systems, networks, or sites, or to another user’s account or data, is also prohibited. Additionally, transferring your account access or rights to a third party is prohibited unless authorized by law or with our express written permission.
3. Abusive Actions Against Others : Acts that defame, abuse, extort, harass, stalk, threaten, or otherwise violate or infringe upon the legal rights of others, including privacy, publicity, and intellectual property rights. This also includes inciting, threatening, facilitating, or promoting hateful or violent acts against others.
4. Fraud : Any actions intended to defraud Paycio, our users, or any third parties. This includes providing false, incorrect, or misleading information.
5. Intellectual Property Infringement : Transactions involving items that infringe or violate any copyright, trademark, right of publicity or privacy, or any other proprietary right under the law. This includes, but is not limited to, the sale, distribution, or access to counterfeit goods such as music, movies, software, or other licensed materials without the appropriate authorization from the rights holder. Additionally, using Paycio's intellectual property, name, or logo without proper authorization is prohibited.

Restricted Business

If you engage in any of the following types of businesses, business practices, or items for sale, you will only be allowed to transact as expressly authorized by us. You may also be required to agree to additional conditions, provide supplemental representations and warranties, complete enhanced onboarding procedures, and operate under certain restrictions.

This list is non-exhaustive, and we reserve the right to update it at any time. We have the exclusive discretion to evaluate whether your activity falls into one of these categories.

If you are unsure whether your use of the Acceptance Services constitutes a Restricted Business or have any questions regarding how these rules apply to you, please contact us at [email protected]

Request for Documentation and Right to Inspect Records

Paycio, its auditors, an applicable regulator, or any relevant competent authority may request and inspect certain business documents from you with reasonable advance notice, or as soon as required by law, a regulator, or another relevant authority. If you refuse this request, we reserve the right to suspend or delete your account.

Right to Decline, Suspend, or Close Your Account

We reserve the right to refuse to provide our Acceptance Services to you or to immediately suspend or close your Account, without notice, if we learn or reasonably suspect, in our sole discretion, that you have used or will use your Account to engage in unlawful or improper activity in violation of applicable laws or regulations, these Terms, or our other applicable terms of use.

Furthermore, we retain the right to monitor, examine, retain, and/or disclose any information as required to comply with any applicable law, regulation, sanctions programs, legal process, or government request.

If your Account does not have a paid transaction for more than twelve consecutive months, we reserve the right to suspend it and cease processing capabilities. You will be notified of the steps required to reactivate your Account.

Effect of Account Closure

If your Account is closed for any reason, you agree to the following:

(a) You will continue to be bound by the surviving portions of these Terms.

(b) You will immediately stop using the Acceptance Services.

(c) The license provided under these Terms shall end.

(d) You will remove from your website, apps, and marketing materials any Paycio service marks, logos, or other branding, and discontinue their use.

(e) Paycio will retain certain information and account data as required under applicable laws and regulations.

Security and Wallet Security

Security

We have implemented security procedures designed to protect information from accidental loss, unauthorized access, use, modification, or disclosure. Our security measures include risk assessments, access controls for applications and systems, application development and maintenance procedures, permissible use guidelines, data classification, incident response protocols, disaster recovery plans, business continuity measures, and security training.

However, we cannot guarantee that unauthorized parties will never gain access to your information. You agree to provide your information at your own risk, unless otherwise required by relevant legislation.

Suppose we reasonably believe or become aware of a breach of our security measures that may have affected you, your Account, or your information. In that case, we will notify you within 72 hours of discovering such a breach. This notification will be sent to the email address specified in your Merchant profile.

Digital Wallet Security

A digital wallet is required for both customers transmitting Bitcoin payments and merchants receiving cryptocurrency settlements. A digital wallet is a software that stores encrypted private keys necessary to sign transactions and access funds.

• Custodial Digital Wallet : A custodial wallet is an account where third parties act as financial intermediaries or custodians for a user's cryptocurrency. In this case, the custodial wallet provider holds the user’s private keys and thus controls the funds.
• Non-Custodial Digital Wallet : A non-custodial wallet does not involve third-party financial intermediaries. The wallet provider simply manages the platform for storing a user's private keys but does not have access to the private keys or the user's funds.

Shoppers and merchants can store their funds in any cryptocurrency wallet, including the Paycio wallet. Paycio does not promote or guarantee the quality or security of any third-party wallets.

The wallet owner is solely responsible for safeguarding the information used to access their wallet, as well as for maintaining the security procedures and updates on the devices used to download and utilize their wallet.

If a Shopper or Merchant chooses to use the Paycio wallet, they must adhere to the Paycio Wallet Terms of Use.

Paycio is not liable for, and cannot assist in the recovery of, cryptocurrency funds lost by a Merchant or Shopper due to wallet compromises, such as loss or unauthorized access to private keys, accidental sharing of a backup, device or wallet software bugs, or malicious attacks on the wallet software.

If your account balance is transferred to a wallet that becomes compromised or inaccessible, or if a Shopper’s wallet is hacked or becomes inaccessible, you must handle any queries or potential claims on your own. Paycio is not involved in resolving such disputes.

Paycio Supported Cryptocurrencies

Paycio may add additional cryptocurrencies to its services, allowing users to send over 170+ cryptocurrencies instantly. New cryptocurrencies will be added by default, unless you request Paycio to disable them. Paycio also reserves the right to withdraw specific cryptocurrencies from the platform as a payment option at its discretion.

No Warranties

We provide the acceptance services “as is” and “as available,” at your own risk, except as otherwise stated in this agreement. To the fullest extent permitted by applicable law, we provide the Acceptance Services without warranties of any kind, including but not limited to implied warranties of merchantability, fitness for a particular purpose, or non-infringement. We do not warrant that the Acceptance Services (or our website):

• Will operate error-free, or that defects or errors will be corrected;
• Will meet your requirements or be available, uninterrupted, or secure at all times or locations;
• Are free from viruses or other harmful content.

No third-party products or services offered or advertised through the Acceptance Services or our website are endorsed, warranted, or guaranteed by us. We are not a party to, nor do we monitor, any interactions between you and third-party providers.

Limiting Liability

Except as otherwise stated in this agreement, Paycio is not liable for indirect, special, incidental, consequential, exemplary, or punitive damages, or for any loss, theft, disappearance, or damages for lost profits, revenues, data, or other intangible losses arising from the use of, inability to use, or unavailability of the acceptance services. This applies regardless of the form of action, whether based on contract, tort, or otherwise.

However, this limitation does not exclude liability for gross negligence or willful misconduct by Paycio. Furthermore, Paycio’s total liability arising from the Acceptance Services or these Terms is capped at the fees earned from your use of the Acceptance Services during the 6 months immediately preceding the event that caused the claim. These liability limitations apply to the fullest extent permitted by law.

Terms Updates

Any changes to these terms will be notified by updating the date at the top of this document. If significant changes are made, Paycio will send email or other notifications. By continuing to use the Services, you confirm your acceptance of the updated Terms, which will take effect immediately. If you do not agree with the updated Terms, you must cease using the Services.

Confidentiality

Confidential Information refers to any data disclosed by a party that is:

• Marked as 'Confidential' or 'Proprietary,' or should reasonably be understood as confidential from its context.
• Merchant data, Paycio API data, and technical specifications are considered confidential.

Each party agrees to keep the other party's Confidential Information private, not disclosing it to third parties or using it for any purpose other than fulfilling their obligations under these Terms.

These confidentiality obligations do not apply to:

• Information is already known to the recipient before disclosure.
• Information that becomes public without the fault of the recipient.
• Information received from a third party without restrictions.
• The recipient independently develops information.

Confidential Information may be shared with an affiliate if necessary for the services requested. If legally required (e.g., court orders or regulatory disclosures), the disclosing party must be notified promptly and efforts made to protect the information.

Confidentiality obligations survive the termination of these Terms or until the information becomes public without fault of the receiving party.

Exchange Crypto, Buy Third-Party Content

Paycio does not control or take responsibility for third-party data, services, goods, or content ('Third-Party Content') accessed, downloaded, received, or purchased through the Software or its linked sites. We do not guarantee the accuracy, timeliness, or delivery of such content.

Third-party content is provided as a convenience, and Paycio is not liable for it. You agree to use such content at your own risk and under the third-party provider’s terms and conditions. Paycio disclaims any express or implied warranties regarding Third-Party Content.

Specifically, third-party functionalities like 'Buy Crypto' or 'Swap Crypto' in the Paycio wallet redirect to third-party cryptocurrency exchanges. Paycio is not a party to these transactions and does not buy or sell cryptocurrencies, nor is it liable for them.

Data Collection Personal Information

We currently collect and, in the 12 months prior to the Last Updated Data of this Privacy Policy, have collected the following categories of California Personal Information:

• Identifiers (real name, alias, postal address, unique personal identifier, online identifier, Internet Protocol address, email address, account name, social security number, driver’s license number, passport number, or other similar identifiers)
• Information under the California Customer Records Statute (Information that identifies relates to, describes, or is capable of being associated with a particular individual, including, but not limited to, his or her name, social security number, address, telephone number, passport number, driver’s license or state identification card number, bank account number, credit card number, debit card number, or any other financial information)
• Commercial Information (Records of products or services purchased, obtained, or considered, or other purchasing or consuming histories or tendencies on our site)
• Internet or other similar network activity (Internet or other electronic network activity information, including, but not limited to, browsing history, search history, and information regarding a consumer’s interaction with an Internet website, application, or advertisement)

SIM Data Collection and Verification Policy

Paycio collects and processes your SIM information in instances where your SIM has been tampered with, deactivated, swapped, or compromised through SIM splitting, SIM jacking, or hijacking. To safeguard your account and prevent unauthorized transactions, we utilize SIM verification as part of our app’s security features. This measure enhances the protection of your account and ensures continuous, uninterrupted service in the event of such incidents.

Paycio’s Regulatory Compliance

Paycio complies with U.S. legislation, including the Bank Secrecy Act, the USA PATRIOT Act, the Office of Foreign Assets Control (OFAC) sanctions programs, and other Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) statutes.

Paycio is licensed as a money transmitter where required by law and is a registered Money Service Business (MSB) with FinCEN. Paycio also has a complete AML/ATF/Sanctions compliance program as required by law.

Usage Policy

You agree to comply with all applicable laws and regulations when using Paycio's Services. The following actions are strictly prohibited, and this list is non-exhaustive:

• Engaging in activities that negatively affect other users' experience.
• Unauthorized use of or tampering with computers, equipment, or networks.
• Infecting Paycio’s services, network, or servers with malicious software like viruses, worms, or trojan horses.
• Monitoring or intercepting data not intended for you without proper authorization.
• Attempting to bypass authentication or security measures for hosts, networks, or accounts.
• Reverse engineering, decompiling, disassembling, or trying to derive source code for intellectual property used in Paycio’s Services.
• Modifying, adapting, or creating derivative works based on Paycio’s Services, technology, or user content.
• Duplicating, sublicensing, publishing, broadcasting, transmitting, distributing, performing, displaying, selling, or redistributing Paycio’s Services without permission.
• Creating fake user IDs or engaging in unauthorized use, including impersonating Paycio representatives or other users.
• Violating local, state, national, or international laws or regulations while using the Services.

Advertising and Marketing

Paycio may use your corporate name, logo, URL, artwork, text, and other publicly available business information ('Content') in promotional materials, marketing channels, and directories, but only with your express consent. Third parties may also use your publicly available Content, adapting it for their own directories or channels, subject to their separate terms of use.

Additionally, Paycio may request a testimonial, blog post, or interview. While you are not required to provide such Content, if you agree, a separate marketing agreement may be signed for collaborative advertising efforts.

You warrant that you have the legal right to provide the Content to Paycio and that its use, including copying, modification, and publication, will not infringe on any third-party copyrights, patents, trade secrets, proprietary rights, or any other legal rights.

Confidential Information

Confidential Information can be shared with affiliates if needed for services requested by the other party, and the affiliate must adhere to the confidentiality obligations outlined in this section.

If a court, government agency, or regulatory body requires disclosure of Confidential Information, the disclosing party must notify the other party promptly. The disclosing party will also attempt to avoid or minimize the disclosure, and if necessary, obtain a protective order or confidential treatment.

The duty of confidentiality will survive the expiration or termination of these Terms, or until the Confidential Information becomes publicly available through no fault of the receiving party.

How can I close my account?

Before closing your account:

Before accounts may be closed, they must have a balance of zero. You have the following options available if you have a balance that is too low to meet any fees involved with selling the cryptocurrency (this is referred to as dust or a dust balance).

• You should send the balance to the mobile number of a different Paycio user.
• Renounce the funds and permit Paycio to cancel any balances that are still outstanding; this can be accomplished by getting in touch with us.
• Accounts must not have any transactions that are still pending.

Transferring all your assets to an external wallet is the first step you should take if you have a Paycio wallet. This will prevent you from losing access to those assets forever. After your account has been closed, Paycio will not be able to retrieve these assets, and it will not be responsible for any losses that may occur due to your failure to move your assets to an external virtual wallet. Request to delete an account that has not been validated by contacting us. To permanently close your account, please follow the actions listed below.

Mobile

• 'Profile' & 'Settings' from the menu icon on the keyboard.
• Navigate to the bottom of the Account menu and select the option to close the account.
• First, go over the material and then proceed with the remaining procedures.