OKTO

Pay3000 Consumer Terms and Conditions

TERMS AND CONDITIONS

Why you should read these terms and conditions

This Agreement sets out the Terms and Conditions for PΑΥ3000 Consumer e-wallet and the related provision of services. It is a contract that is entered into between ΟΚΤΟPAY Deutschland GmbH (“we”, “us”, our” “OKTOPAY”), an authorised electronic money distributor (the “EMD”) of Sureswipe E.M.I. PLC, the electronic money institution (the “EMI”) and you (the “User”). It applies to PΑΥ3000 Consumer e-wallet accounts in Germany.

The Agreement terms and conditions are valid and bound by both Parties throughout the duration of the service relation, from date of the Account opening until Account closure.

Please read this Agreement carefully before you start using our services. The Agreement and the relevant documents tell you who we are, how we provide the services to you, how this Agreement can be changed or terminated, what to do if there is a problem and other important information.

If you do not accept these terms and conditions, you must refrain from opening a PAY3000 Account.

For any further assistance, please contact us at support@oktopay.eu

In addition to this agreement, you also need to read and understand the following documents:

We will communicate with you in English language. We may also elect to use an alternative language to effectively communicate locally with you. Use of such alternative language for localization purposes should not be deemed as official for contractual purposes, unless otherwise provided in the applicable legislation. For contract purposes the official language is English and where any discrepancy exists in the translates contracts the English version will supersede the other. By accepting this Agreement, you agree that we may provide notices or other information to you from time to time to your registered email address or contact you using other contact details you have provided. Notices sent by email shall be deemed to have been received 24 hours after the time of remittance of email.

Glossary

“Account” or “e-wallet” or “PAY3000 Account” is the account you have opened with us in your name, which you will be using in accordance with the terms and conditions of this Agreement.

“Agreement” are the terms and conditions included in this agreement, including all subsequent amendments and any additional documentation that accompanies it and to which you should adhere to.

“App” or “PAY3000 App” is a mobile application software which allows you to access and manage your PAY3000 Account.

“Available balance” the amount of e-money held in your PAY3000 e-wallet.

“Business Day” means Monday to Friday from 9:00 – 17:00 Easter European Time – UTC+2, excluding bank and public holidays in Cyprus and/or in other jurisdictions where the Services are provided.

“BET3000” means IBA ENTERTAINMENT LTD, a company with registration number C47819 and with its registered office at Cornerstone Business Center, Level 1, Suite B 16^th September Square MST 1180 Mosta, Malta, authorized by the Lotteries and Gaming Authority of Malta to offer Remote Gaming (LGA/CL1/575/2009, LGA/CL2/575/2009).

“Consumer” is a private individual or person who enters into this agreement acting for a purpose other than a trade, business or profession.

“Customer Due Diligence” is the process that we use to identify, verify our customers and monitor their Accounts according to our anti-money laundering obligations.

“EEA” or “European Economic Area” are the European Union (EU) member states as well as Iceland, Norway and Lichtenstein.

“E-money or Electronic Money” means electronically, including magnetically, monetary value stored in your PAY3000 e-wallet, as represented by a claim on the issuer (EMI), which is issued upon receipt of funds for the purpose of making payment transactions and which is accepted by a natural or legal person other than us. The terms “e-money”, “money” and “funds” are used interchangeable in this Agreement.

“Gaming Account” is an existing and active account you have opened with BET3000. You are required to maintain an active Gaming Account with Bet3000 in order to be able to use your Pay3000 e-wallet.

“Location(s)” means the BET3000 physical points of distribution/sale in Germany, which commercially collaborate with both BET3000 and us, for the provision of the Services and specifically for allowing you to add money to your Gaming Account with the use of a Paycode issued through the PAY3000 App.

“Services” are all products, services, features and functions offered by us that can be accessed by the User via the PAY3000 App.

“Terms and conditions” see Agreement.

“Third party” any other natural or legal person other than the parties under this agreement.

“Transaction” is an action by you which results to money entering or leaving your Account.

“User” is a natural person over 18 years old who keeps a Gaming Account and is using the Services.

“Paycode” means a code consisting of a QR code, a numerical code or similar type of code to be generated in the name of a User by Sureswipe through the OKTO Platform for BET3000 from within User’s PAY3000 App and which can be redeemed solely by the User for the acquisition of services offered by PAY3000 through BET3000 website(s).

“Website” means www.oktowallet.eu

“Writing” means in written form including email.

Who we are?

OKTOPAY Deutschland GmbH (we/our/us) is an Electronic Money Distributor (EMD) in Germany of Sureswipe E.M.I. PLC, a public limited liability company established in Cyprus, with registration number HE366500 and registered address at 18 Kyriakou Matsi, 1st Floor, Nicosia 1082, Cyprus and authorized as an Electronic Money Institution (EMI) with authorization number 115.1.3.26, under the supervision of the Central Bank of Cyprus.

Our services of distribution and redemption of electronic money are offered under the brand PAY3000, a brand owned by BET3000 and lawfully licensed to us for the provision of the Services.

We operate and provide services on Business Days.

This Agreement will be available to you, at all times on the Website. These terms and conditions may also be sent to you or appear in places on the Website, PAY3000 App or otherwise where relevant to your use of the Services. You can ask for a copy of these terms and conditions through the Website at any time or you can contact us at by email at support@oktopay.eu.

Who can use our Services?

You can open an Account if you are 18 years of age and over, resident of Germany, and have the full capacity to enter a contract. We may ask you at any time to show proof of your age.

You can only open an Account if you already hold a Gaming Account.

What is a PAY3000 Account?

Your e-wallet is a payment account maintained under your name, that holds e-money. E-money is an electronic alternative to cash. We are offering only e-wallets in Euro currency.

With your e-wallet you can do the following:

Top-up your e-wallet Account with a deposit made in cash at a Location pursuant to the provisions of Sections 10 and 15 below (Reloads). A list of the Locations may be found in the APP.
Hold, send to and receive funds from other Users (P2P).
Withdraw funds from within your e-wallet in cash at a Location pursuant to the provisions of Sections 12 and 15 below (Returns). You may find the list of the Locations in the APP.
Perform and monitor deposits and withdrawals to and from your Gaming Account.
Receive verified winnings from your Gaming Account to your Pay3000 Wallet Account.

We reserve the right to activate or deactivate any of the above or other features of your PAY3000 e-wallet based on our agreement with BET3000.

You should never allow anyone to operate your PAY3000 e-wallet on your behalf. All activities carried out in your account are deemed as activities carried out by you and you represent and warrant that you are the sole beneficiary of the Account.

You may only open one PAY3000 e-wallet. The opening of duplicate accounts for the same customer shall be refused. Where duplicate Accounts are detected, they shall be closed or merged.

If we add new features or services, we may notify you via the email address you have given us when you opened the e-wallet. However, it is your responsibility to check regularly the Website where the updated features and services are displayed.

You can maintain balances in your PAY3000 Account; however, you will not receive any interest on the electronic money in your Account. PAY3000 e-wallet is an electronic money account and is not a bank account. Electronic money accounts are not allowed by the European Law to receive any paying interest. Electronic money is not a deposit or investment under the Cypriot Law, and is therefore not protected by any deposit protection scheme or the investor compensation fund scheme that is provided for in Cyprus.

Every transaction executed, will appear in your transaction history.

Opening an e-wallet

When opening a PAY3000 e-wallet through the PAY3000 App, you are requesting to open an Account for you under our and EMI’s authorization and approval.

When requesting to open an Account for you, you will need to accept all required Terms and Conditions and provide us with the following information for opening a Standard Account:

A valid and active email address which is legitimately assigned to you and validated via a one-time password (OTP)
Mobile phone number to which the User is the legitimate holder, and which is validated via a one-time password (OTP)
Identification data (name, date of birth, id number)
A photo of your National ID card or Passport
A selfie

You agree to comply with any further request from us for additional information for this purpose and that you will provide this information promptly.

You also agree that we may request or obtain, directly or through any Third Parties, the necessary documents or information to validate the information you provided to us.
Examples include commercial databases or other sources of information that we use to comply with our legal obligations for Customer Due Diligence purposes.

It is important to keep your details up to date and let us know immediately if any information you have given us has changed. This is necessary to avoid possible disruption to the provision of the Services. We cannot be responsible for any financial loss arising out of your failure to do so. We will ask you from time to time to confirm the accuracy of your information and in some cases ask you to provide additional supporting documents.

You may need to upgrade your Account to Premium Account in order to be able to use the full Services available in a personal Account and to increase your usage limits. This means that you will be required to provide us with further information:

A photo of your utility bill/Bank Statement up to 3 months old that confirms the permanent residence address
Answers to the Questionnaire A

For further upgrade to Platinum Account, we will request additional documents and questionnaires to construct the economic profile and where necessary, identify the sources of origin of wealth.

If you want to know more information about how we use your personal data, please see our OKTO Privacy Policy.

Protecting your Account

You must take appropriate steps to protect your Account from being misused. You must take reasonable steps to secure your devices, items, IDs, passwords required to access your Account. You should PROTECT your security credentials by storing them safely. We advise that you change your password regularly and ensure that it is not reused in other online accounts.

In order to ensure the safety of your Account and of the Service provided to you, you agree to do the following:

Try to conceal your password in order to make it hard for others to understand.
Try to avoid using as a password information that can be known to a number of people, like your birthday, ID number, telephone number, or a sequence of letters and number that can easily be guessed.
Try not to allow any prying eyes from seeing you entering your login details
Refrain from using any functionality, either device or software specific, that allows you to store (“remember”) your login details as they may be compromised
Ensure that you do not remain logged in your Account after you have finished accessing the Services.
Do not allow other people to use your Account
Do not share your security credentials with anyone else

In some cases, we may ask you to authenticate an instruction related to your Account.
This is necessary to ensure that it’s you giving us the instruction. This could include your email and password in order to successfully log into your Account to provide us with your instruction.

If your security credentials are stolen, lost, used without authorization or compromised, you should immediately contact support@oktopay.eu and change your password without delay.

We do not accept responsibility for any interference or damage to your own computer system which arises in connection with your accessing of this website or any other website. You must take your own precautions to ensure that you are not exposed to the risk of viruses or other form of interference which may damage your own computer system.

How is your Account balance protected?

When money is received from you for the services, Sureswipe E.M.I PLC will issue the equivalent value of e-money and place it in your e-wallet. The equivalent money received from you are deposited into a pooled safeguarding client account with a bank in the European Union, separated from the EMIs own money. This means that, in case of insolvency, your e-money will not be used against payment of the company’s liabilities. Your money is safe and protected in accordance with the Electronic Money Regulations which are designed to ensure the safety of funds held in electronic money accounts like your Pay3000 Account. Unlike banks, there is no lending out customer money and your account has no interest bearing. Instead of protecting your money in a deposit guarantee scheme which does not apply to our services, your money is safeguarded by Sureswipe E.M.I.
Safeguarding means that, by law, your money is kept in accounts that are completely separate from corporate accounts that are used for running a business. These funds are called ‘safeguarded funds’. This means that, in case of insolvency, your e-money will not be used against payment of EMI’s liabilities. It should be noted that segregated account(s) will be established, maintained, and operated according to the applicable rules and regulations. The banking institution(s) will receive instructions regarding the transfer and the movement (s) of the money.

How to get information about your PAY3000 e-wallet

You can view your PAY3000 Account statement by logging into your Account. All your transactions will appear in the transaction history section of your PAY3000 e-wallet. You can access the transaction history when you log in to your Account and select the transaction tab/button.

The Account information is available for 5 years after you close your Account with us. We highly recommend that you do not disable notifications from us but, if you choose to do so, you will have to check your payments regularly on the PAY3000 App.

The transaction history report will be available only if there has been an activity on your Account. We may charge you a fee for providing you with additional information in a different way.

You need to check your PAY3000 e-wallet regularly and let us know immediately if you see a transaction that was not authorized by you or a payment that you think it might be made incorrectly. You can do this no later than 13 months from the date of the transaction otherwise, you are not entitled to any correction of errors or refund of funds.

With this you acknowledge and agree to review your transactions through your Account, and the relevant transaction history section and you understand and accept that no period statements will be sent to you either physical or by e-mail.

The Available Balance in your Account should always be positive or zero. If your e-wallet goes negative as a result of a reversal of a transaction, or any other action, you promise to repay the negative balance immediately without seven (7) Business Days. In case you fail to do so, we will close your Account and terminate this Agreement.

Adding money to your PAY3000 Account (Reload)

All funds in your Account are “electronic money” as recognized in the European Economic Area as a form of money suitable for online use.

To get Electronic Money in your Account you must sign-in to the PAY3000 App and use the “add money” function. Each time you want to add money in your Account (top-up), you may select the funding source of your preference. you can deposit cash at a Location pursuant to the provisions of Sections 15 below (Reloads). You may find the list of the designated Locations in the APP.

When you add money to your Account the equivalent amount of e-money will be issued in Euro. The e-money will be stored in your Account, and you can use them for the available transactions. For now, the electronic money can be issued only in Euro.

We may limit the adding of money in your Account, either by requirement of the anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation including mainly the anti-money laundering legislation.

Adding money to your Gaming Account

You can use your PAY3000 e-wallet to add money to your Gaming Account. In order to add money to your Gaming Account, you must have sufficient balance in your PAY3000 e-wallet (either via the means mentioned under Section 10 of these Terms and Conditions) or you can add money to your Gaming Account as a result of Section 15 below.

Withdraw money from your PAY3000 Account (Returns)

You can withdraw money from your PAY3000 e-wallet by receiving cash at a Location pursuant to the provisions of Section 15 below (Returns).

We are only offering e-wallets in euro and do not offer currency conversion for now.

In certain situations, a Return of funds may be delayed to comply with the anti-money laundering and other legal obligations. We may also delay a Return to protect you, other users and itself from loss or if it needs to confirm that you are the one who has authorized the Return.

Receiving verified winnings of your Gaming Account to your PAY3000 Account

You can choose to receive verified winnings from your Gaming Account by transferring it directly to your PAY3000 e-wallet Account. The verified winnings will be added to your Available Balance in your Account, and they can be used for any Transaction available in the PAY3000 App.

We may impose a limit on transferring returns from your Gaming Account into your PAY3000 Account in order to comply with our anti money laundering obligations.

Sending money from your PAY3000 Account

Once you submit a payment order, we consider that you have given us consent and authorise us to execute the Transaction. You can send money to other PAY3000 Users instantly in the section “SEND”, choose a recipient from your phone contacts and follow the instructions to complete the transfer. The other person will receive the payment immediately. You have the option to send money only in euro.

We may impose a limit on sending money from your Account, either by requirement of the anti-money laundering laws and regulations, or at our reasonable discretion (for example, without limitation, to limit fraud or credit risk). In no event will such limits exceed the maximum allowable limits set by the applicable legislation including mainly the anti-money laundering legislation.

Reload and Return monitoring

You may use your Pay3000 e-wallet to monitor your reload and return transactions towards and from your e-wallet Account.

In order to top up your e-wallet Account with cash (Reload), you need to visit a Location. In the Location, you can scan the available static QR code using your PAY3000 e-wallet and you will select the functionality Reload. From within your PAY3000 e-wallet, you will type the amount you wish to send to your e-wallet account, which you will pay to the Location. The transaction, upon its completion, will be registered in the PAY3000 App and you will be notified of its completion.

Reversely, in order to withdraw money from your e-wallet Account in cash (Return), you need to visit a Location. Using your PAY3000 App, you will select the functionality Return and you will scan the available static QR code in the Location, type the withdrawal amount in your PAY3000 App and receive the requested amount from the Location, after the Location has made the necessary identity verification. The transaction, upon its completion, will be registered in your PAY3000 App and you will be notified of its completion.

Exchange rates

There is no offer for a currency conversion at this time. No exchange rates apply.

Fees

There are no fees applicable for the use of the PAY3000 App and the related Services.

Cancelling a payment

You may not cancel or revoke a payment instruction that has already been received by us, nor can you withdraw your consent to execute a transaction.

After adding money to your Gaming Account with the use of the Paycode issued via the PAY3000 App, we have no control over the products or services that are purchased through your Gaming Account, as we only act as independent intermediaries. The lack of control denotes that we cannot confirm the legality and do not assume the responsibility and potential liability stemming from the legality of the products or services that are purchased with / through the use of your Gaming Account. Any issue regarding the above shall be directed towards BET3000.

How long will the payment take?

Payment between PAY3000 Users is made instantly and the money are available at the time of transfer.

If you give your payment instruction after the cut-off time (5.00 pm Easter European Time – UTC+2) the payment will be executed the next Business Day.

If a payment was sent to the wrong account, wasn’t sent at all or was delayed

We try to process your Transactions correctly and timely, but sometimes things go wrong, and a payment might be delayed or not received by the person you wanted to pay.

If a person has not received the money you have sent him, we will not be responsible if we have processed the payment correctly, but you gave us the wrong details.

If the payment was not received or delayed, let us know by sending us an email to support@oktopay.eu no later than 13 months after the amount was taken from your Account.

If the money was not received into the account, and the reason was our mistake, then we will refund the payment back into your Account. If possible, we will restore your Account to the state in which it would have been if the transaction did not take place.

Refusal of execution of a Transaction

We may refuse to make any type of payment in the following cases:

You do not have enough money in your Available Balance.
You do not provide us with all mandatory information requested in a payment instruction.
The Transaction exceeds the applicable limits as defined herein.
We have a reason to believe that the activity is in breach of these Terms and Conditions.
If we have a legal or regulatory obligation that prevents us from making the payment or if we are required to perform further checks.
If a third party prevents us from making the payment (for example Mastercard or Visa do not allow a payment or a withdrawal).
If your Account has specific restrictions.
If your Account is blocked for any other reason.
If specific restrictions on adding money to your Gaming Account or on withdrawing money from your Gaming Account have been imposed by BET3000.
If we receive instructions from BET3000, based on our agreement, for not executing the Transaction.

We may refuse the execution of any Transaction for any reason without limitation. Provided it is not prohibited by any applicable law, we will be required to provide information as to the reason it took action, what caused it to take action, and any remedial action you may take to resolve the refusal issue if possible.

You agree that we may also suspend the execution of a Transaction, which based on available information at the time, can be reasonably deemed as above acceptable risk levels, and you will be notified for such action. Should the thread of excess risk be eliminated, we will lift the suspension allowing the execution of the transaction.

Refunds to your Account

If a person has not received the money you have sent, and this is not due to our mistake, we will try to refund the money back to your Account, but this is not always possible.

We will not refund the payment if:

The personalized security credentials are lost, stolen or misappropriated. For unauthorized payments where we believe you should have been aware of the loss, theft or unauthorized use, you will be liable for the first 50 EUR. We will not hold you liable for the first 50 EUR if the unauthorized payment was caused either by us, the EMI and/or a Third Party carrying out activities on our behalf. Your liability for the first 50 EUR also does not apply to any unauthorized transactions made after you have notified us that your PAY3000 e-wallet may have been compromised.
b. if we believe you have acted fraudulently,
if you do not quickly notify us for the loss, stealing or unauthorized use of your security credentials or access to your Account,
d. if the payment transaction was unauthorized but you have acted with intent or gross negligence,
if you don’t let us know about the unauthorized or incorrectly completed transaction within thirteen (13) months from the date of the payment transaction.

For more information, please read our Refund Policy.

Closing your PAY3000 Account

You can close your Account at any time on the PAY3000 App. Go to setting, select ‘Account’ and the ‘Close Account’. You will be informed through the App or via e-mail that your request is received. After this point, you will not be able to log in to the App. You accept that your Account will remain under clearance until we inform you about the clearance result. Please ensure that any available balances on your e-wallet are withdrawn prior the closure request of your Account.

You acknowledge and accept that closing your PAY3000 Account does not lead automatically to the closing of your Gaming Account. The closing of your Gaming Account is governed by the separate agreement you have concluded with BET3000. Notwithstanding the above, if you close your Gaming Account, we will automatically close your PAY3000 Account and terminate this Agreement.

You must not close your PAY3000 e-wallet to avoid an investigation. If you attempt to do that, we may hold your money until the investigation is fully completed in order to protect our interests and meet our legal obligations.

In case you close your Account, you agree the following:

You will not be able to avail yourself with the Services
2. You forfeit any non-monetary benefits such as bonuses, coupons and/or vouchers (if applicable).
3. Any pending transactions will be cancelled.
4. This Agreement shall be terminated, except to the extent and for so long as we require to deal with the closure of your Account and to comply with applicable laws and regulations.
5. We have the right to hold the balance in your Account for a period of 180 calendar days from the day you close your Account, in order to protect itself and any third party against any potential claims of reversals, fines, penalties and other liabilities that stem from the use of your Account while it was active. After this time, you will be able to withdraw any undisputed funds.
6. After your Account is closed you will remain liable for any outstanding obligations related to your Account prior to closure.
Terminating or suspending our Services

We may terminate our Services under this Agreement at any time by closing or blocking your Account at our own discretion in exceptional circumstances including:

If we have a good reason to believe that you might be acting fraudulently.
If we believe that you have provided us with false or misleading information
If this is required to meet our legal obligations.
If you did not provide us with the information, we need to meet our legal obligations or if you have provided us with incorrect information.
If we are unable to verify your identity or other information we have required.
If you have acted in breach of these Terms and Conditions in a serious way or in a way that we are entitled to close your Account.
If we have a reason to believe that you use the PAY3000 app in a way that might be harmful to our systems.
If we have a good reason to believe that, if we continue to offer you our Services this may harm our reputation.
If we must do so to meet instructions from governmental authorities within their legal competencies.
You do not use your Account for two years and we are unable to communicate with you during this period.
We suspect that your Account has been accessed without your authorization or if we are concerned about the security of your Account.
If we have reasonable grounds to believe you are carrying out a prohibited or illegal activity.
If you stop being a holder of a Gaming Account for any reason.

We will let you know when we block your Account including the reasons for this if the law allows us to do so. We will unblock your Account as soon as the reasons for the Account blocking do not exist.

Confidentiality

We undertake that we shall not at any time, disclose to any person any of your confidential information, except in the following circumstances:

to our employees, officers, representatives, or advisers who need to know such information for the purposes of exercising our rights or carrying out our obligations under or in connection with this Agreement. We shall ensure that our employees, officers, representatives, or advisers to whom we disclose your confidential information comply with this clause; and
as may be required by law, a court of competent jurisdiction or any governmental or regulatory authority.

General information

For a contract to be legally enforceable, there needs to be an offer and acceptance. This Agreement constitutes our offer to make the Services available to you and you agreeing to this Agreement constitutes your acceptance of this offer.

If we do not insist immediately that you do anything you are required to do under this Agreement, or if we delay in taking steps against you in respect of your breach of this Agreement, that will not mean that you do not have to do those things and it will not prevent us taking steps against you at a later date.

We shall have no liability to you under this Agreement or any Contract if we are prevented from or delayed in performing our obligations under this Agreement, or from carrying on our business, by acts, events, omissions or accidents beyond our reasonable control, including, without limitation, strikes, lockouts or other industrial disputes (whether involving us or any other party), failure of a utility service or transport or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation or direction, accident, breakdown of plant or machinery, fire, flood, storm or our default of subcontractors, provided that you are notified of such an event and its expected duration.

Each of the subclauses, clauses and paragraphs of this Agreement operates separately. If any court or relevant authority decides that any of them are unlawful, the remaining subclauses, clauses and paragraphs will remain in full force and effect.

Nothing in this Agreement is intended to or shall operate to create a partnership or joint venture between you and us or authorize either party to act as agent for the other, and neither party shall have the authority to act in the name or on behalf of or otherwise to bind the other in any way (including, but not limited to, the making of any representation or warranty, the assumption of any obligation or liability and the exercise of any right or power).

We may transfer our rights and obligations under this Agreement to another organization without your consent. We will always tell you in writing if this happens and we will ensure that the transfer will not affect your rights under this Agreement.

You may only transfer your rights or your obligations under this Agreement to another person if we agree to this in writing.

This contract is between you and us. No other person shall have any rights to enforce any of its terms.

This Agreement and all matters arising from it and any dispute arising between the parties in connection with the Agreement shall be governed and construed in accordance with the laws of the Republic of Cyprus. Any legal proceedings resulting or connected with the Agreement shall be submitted for settlement before the competent courts as follows: (i) in case of legal proceedings brought by us against the Consumer, the courts of the Member State in which you are domiciled; (ii) in case of legal proceedings brought by you against us, either before the courts of the Member State in which we are domiciled, or before the courts of the Member State in which you are domiciled. However, this shall not prevent us from bringing any action in the courts of any other jurisdiction for injunctive or similar relief.

Making a complaint

If you are not happy with the provision of our Services, please contact us at support@oktopay.eu or submit the online form and a client representative will issue a ticket in reference to the dispute matter. We take seriously the complaints of our customers. If we receive a complaint from you, we will try to solve it within 15 business days. If the problem cannot be solved within 15 business days, we will send you a reply stating the reasons of the delay including the date of by which we will give you the final answer. In any case, the final reply will not exceed the 35 business days.

If you are not satisfied with our final reply, you may refer to the following Alternative Dispute Resolution Bodies:

Financial Ombudsman of the Republic of Cyprus:
Address: 13 Lord Byron Avenue, 1096 Nicosia Phone: +357 22848900
Facsimile (Fax): +357 22660584, +357 22660118
Website: www.financialombudsman.gov.cy Emails:
Financial Ombudsman: fin.ombudsman@financialombudsman.gov.cy
Complaints: complaints@financialombudsman.gov.cy

Central Bank of Cyprus:

Address: 80 Kennedy Avenue, 1076
Nicosia Phone: +357 22714100
Facsimile (Fax): +357 22714959
Website: www.centralbank.cy

Cyprus Consumer Center for Alternative Dispute Resolution:

Address: 16 Kyriakou Matsi, Eagle House, 8th Floor, Agioi Omologites, 1082 Nicosia Phone: +357 22519741
Facsimile (Fax): +357 22318214 Email: secretariat@adrcyprus.com
Website: www.adrcyprus.com

Ιf you wish to refer to additional Alternative Dispute Resolution Bodies that exist in Germany. You may find and alternative dispute resolution body in Germany by visiting https://ec.europa.eu/consumers/odr/main/?event=main.adr.show2&lng=EN.

Restrictions on using the Services

The Services must not be used, directly or indirectly, for the following restricted activities:

Breach this Agreement, the Privacy Policy or any other policies.
Violate any law, regulation, directive, statute or contract in relation to the Services received, including without limitation, anti-money laundering laws and regulations, consumer and personal data protection, the Electronic Money Institution Law and its directives.
Use tools and mechanisms to conceal your online identity and location (use of proxy and other anonymizing technic).
Cause and maintain an Account with a negative balance.
Engage in activities (in accordance with information in our possession) that may present us with increased risk or fraud or credit exposure or that lead to us handling a disproportionate number of claims settled in favor of the claimant.
Use the Services in a manner that results in complaints, disputes, claims, reversals, fines, penalties and other liability to us, the EMI, another User or a Third Party.
Use the Services for illegal purposes.
Infringe our, or any Third Party’s copyright, patent, trademark, trade secret or other intellectual property rights, or rights of publicity or privacy.
Provide false, inaccurate or misleading information.
Send or receive what we reasonably believe to be potentially fraudulent or unauthorized funds.
Refuse to cooperate in an investigation or provide confirmation of your identity or any information you provide to us.
Control an Account that is linked to another account that has engaged in any of these restricted activities.
Use the Services in a manner that MasterCard, or any other electronic funds transfer network reasonably believes to be an abuse of the card system or a violation of card association or network rules.
Use of the Services in a way that we reasonably believe that might harm our ability to provide our Services,
To control or use an Account that’s not yours.
Allow anyone else to access or use your Account.
Harass and/or threaten our employees, agents, or other users.

In case you use the Services for the above restricted services and/or in a manner that results in complaints, disputes, claims, reversals, fines, penalties and other liability to us, the EMI, another User or a Third Party, you may be liable for the above restricted activities and their outcome. In such case, you agree to reimburse us, the EMI another User or a Third Party for any and all such liability, and for us to settle any amounts owed as a result of the liability from your available balance. Should your balance be insufficient to cover the amount, you agree that the EMI may use any amount proceeds from a transaction, and in the event that such amount does not cover the liability, allow the holder of the claim to recover the amount through other legal means available.

In case of disputed amounts resulting from a claim or reversal, we will block the use of enough funds in your Account to cover the full amount of the dispute. The block will not affect the use of your Account if you have a residual balance in excess of the blocked disputed amount. The block is restricted to the disputed balance amount. Should the dispute be resolved on your favor, we will restore the full access to your Account and remove the block from the formerly disputed amount. To the contrary, if the dispute is resolved in favor of the opposing party, the blocked amount will remove the required amount from your Account in settlement of the dispute resolution decision.

Changing these terms and conditions

We may change or update these Terms and Conditions from time to time for the following reasons:

To make it easier for you to understand,
If we change the way we are doing business with you or a major change in our operations,
To comply with changes in regulations,
To reflect changes in the costs associated with the way we do business with you,
When we are offering new products or services.

We reserve the right to amend these Terms and Conditions unilaterally. You may access the applicable Terms and Conditions on our Website. It is recommended that you visit the Terms and Conditions page on our Website frequently in order to be informed accordingly.

The notification of the amendments of the Terms and Conditions is concluded by posting the amended Terms and Conditions on our Website or by emailing you to the email address associated with your Account.

Any amendment to the Terms and Conditions shall apply and is valid after the lapse of two (2) months from its notification, unless such modification is made in compliance to the provisions of the applicable legislation, any court ruling or administrative decisions or when it is connected to the provision of new services or new features of existing services or when the amendment, at our discretion, does not increase your obligations and does not restrict your rights.

In any event and within the aforementioned deadline of two (2) months, if you do not accept such amendment, you must close your OKTO Account and terminate this Agreement without any charge, otherwise you are deemed to have accepted the amended Terms and Conditions without reservation. In such an event, the relevant provisions herein regarding the results of the termination apply.

Limitation of liability

In the event that we are deemed to have breached the Agreement leading to loss and causing direct damage to you, our liability will be limited to the following:

In no event shall we, our associates, affiliates and other related persons who act on our behalf, and/or the persons we enter into contracts with, be liable for any of the following types of loss or damage in relation to this Agreement or otherwise:
– any loss or damage whatsoever that is not directly related to our breach of this Agreement; or
– any loss of revenue, profits, business, goodwill, contracts, or savings even if we were informed of the possibility of such occurrence; or
– any loss or corruption of data.

Nothing in this Agreement limits or excludes our liability for death or personal injury caused by our negligence or for any damage or liability incurred by you as a result of fraud or fraudulent misrepresentation by us or to the extent that the liability may not be excluded or limited by applicable law.

We expressly disclaim, to the maximum extent permitted by law, all conditions and warranties, of any kind express, implied or statutory, regarding the Services offered or the software provided, including warranties or conditions of fitness for a particular purpose, lack of viruses, accuracy, satisfactory quality and non-infringement. We neither represent nor warrant that the provision of the Services to you will be without delay, interruption, compromise to your security systems, or error free (neither that all errors will be rectified) and we do not accept any responsibility for any delay or failure in delivering the Services under this Agreement. We and/or our third-party provider may undertake to perform maintenance and/or repair work on our systems that may restrict your access to your Account and/or the Services.

Intellectual property rights

We, the system vendor and/or our licensors, grant you a limited, non-exclusive, non-transferable license for the use of any software application(s) you access through or have downloaded to your personal computer, mobile device, or platform, including an Application Programming Interface (API) or a Developer’s toolkit where applicable, but this is for your personal use only. You may not:

Transfer, lease or rent, sell or distribute these rights to any person or entity.
Alter, reproduce, adapt, distribute, display, publish, reverse engineer, translate, disassemble, decompile or otherwise attempt to create any source code which is derived from our material.

With this you acknowledge that all rights related to our material, belong exclusively to us or to a third-party provider depending on the contractual arrangements between us and the third-party provider.

The brand(s), website(s) URL(s), logos relating to the name, products and services described/used in/on electronic and hard copy material are either copyrighted, or are registered trademarks, or are our trademarks or trademarks of a third-party provider and/or our licensors. In addition, all page headers, custom graphics, button icons, and scripts are copyrighted service marks, trademarks belonging to us or to the third-party provider and/or our licensors. Copying, modification, alteration of any kind, amendment or use of any kind is strictly prohibited.

Specifically, we and/or our licensors are the owners of all rights, interests and titles of logos, tradenames, registered and unregistered trademarks, custom designs, proprietary software core code, patentable applications, trade secrets, registered and unregistered copyrights, any and all other intellectual property, proprietary rights or other rights related to intangible property which are used, or developed in connection with any of the Services and you agree not to claim ownership of or interest in any such intellectual property right.

You acknowledge that you have not obtained any rights expressed or implied other than the rights granted to you under the terms of this Agreement, and that no title of ownership has been transferred to you under this Agreement.

You shall not undertake any action with the intent to ascertain and/or obtain for any reason or purpose our and/or our licensors’ systems source code, processes or data. You have not been granted the right and shall not sell, resell, lease or sublet, sublicense, lend or otherwise transfer the services or components thereof.

All queries should be directed towards support@oktopay.eu which operates and handles the Customer Service. Customer Service means the customer support that can be accessed online by sending an email at support@oktopay.eu.