This Privacy Policy explains how we collect, use, disclose personal information when you use our online payment services

Effective Date: December 10, 2023

At Payc, we understand the importance of privacy and are committed to protecting the personal information of our users. This Privacy Policy explains how we collect, use, disclose, and safeguard your personal information when you use our online payment services of Payc.

Privacy Policy

Your trust is important to us and we are committed to protecting the privacy and security of your personal information. The information that is shared with us helps us to provide you with a great service and experience. We are committed to the protection of all personal data collected by us and contribute to ensuring that personal data is always handled properly.

This privacy policy describes how we collect, use, process and pass on your personal data in connection with your access to and use of Payc and the payment services. This privacy statement describes our privacy practices for all websites, platforms and services that we are operating. Please read the privacy policy completely.

Types of Data collected
Among the types of Personal Data that this Application collects, by itself or through third parties, there are various types of Data, mainly: email address; Cookies; Usage Data; username; pictures; website; language; crypto wallet data: like addresses, assets, tokens and balances.

Complete details on each type of Personal Data collected are provided in the dedicated sections of this privacy policy or by specific explanation texts displayed prior to the Data collection. Personal Data may be freely provided by the User, or, in case of Usage Data, collected automatically when using this Application. Unless specified otherwise, all Data requested by this Application is mandatory and failure to provide this Data may make it impossible for this Application to provide its services. In cases where this Application specifically states that some Data is not mandatory, Users are free not to communicate this Data without consequences to the availability or the functioning of the Service. Users who are uncertain about which Personal Data is mandatory are welcome to contact the Owner. Any use of Cookies – or of other tracking tools – by this Application or by the owners of third-party services used by this Application serves the purpose of providing the Service required by the User, in addition to any other purposes described in the present document and in the Cookie Policy, if available.

Users are responsible for any third-party Personal Data obtained, published or shared through this Application and confirm that they have the third party's consent to provide the Data to the Owner.

Mode and place of processing the Data
Methods of processing
The Owner takes appropriate security measures to prevent unauthorized access, disclosure, modification, or unauthorized destruction of the Data.

The Data processing is carried out using computers and/or IT enabled tools, following organizational procedures and modes strictly related to the purposes indicated. In addition to the Owner, in some cases, the Data may be accessible to certain types of persons in charge, involved with the operation of this Application (administration, sales, marketing, legal, system administration) or external parties (such as third-party technical service providers, mail carriers, hosting providers, IT companies, communications agencies) appointed, if necessary, as Data Processors by the Owner. The updated list of these parties may be requested from the Owner at any time.

Legal basis of processing
The Owner may process Personal Data relating to Users if one of the following applies:

Users have given their consent for one or more specific purposes. Note: Under some legislations the Owner may be allowed to process Personal Data until the User objects to such processing (“opt-out”), without having to rely on consent or any other of the following legal bases. This, however, does not apply, whenever the processing of Personal Data is subject to European data protection law;
provision of Data is necessary for the performance of an agreement with the User and/or for any pre-contractual obligations thereof;
processing is necessary for compliance with a legal obligation to which the Owner is subject;
processing is related to a task that is carried out in the public interest or in the exercise of official authority vested in the Owner;
processing is necessary for the purposes of the legitimate interests pursued by the Owner or by a third party.
In any case, the Owner will gladly help to clarify the specific legal basis that applies to the processing, and in particular whether the provision of Personal Data is a statutory or contractual requirement, or a requirement necessary to enter into a contract.

Place
The Data is processed at the Owner's operating offices and in any other places where the parties involved in the processing are located.

Depending on the User's location, data transfers may involve transferring the User's Data to a country other than their own. To find out more about the place of processing of such transferred Data, Users can check the section containing details about the processing of Personal Data.

Users are also entitled to learn about the legal basis of Data transfers to a country outside the European Union or to any international organization governed by public international law or set up by two or more countries, such as the UN, and about the security measures taken by the Owner to safeguard their Data.

If any such transfer takes place, Users can find out more by checking the relevant sections of this document or inquire with the Owner using the information provided in the contact section.

Retention time
Personal Data shall be processed and stored for as long as required by the purpose they have been collected for.

Therefore:

Personal Data collected for purposes related to the performance of a contract between the Owner and the User shall be retained until such contract has been fully performed.
Personal Data collected for the purposes of the Owner’s legitimate interests shall be retained as long as needed to fulfill such purposes. Users may find specific information regarding the legitimate interests pursued by the Owner within the relevant sections of this document or by contacting the Owner.
The Owner may be allowed to retain Personal Data for a longer period whenever the User has given consent to such processing, as long as such consent is not withdrawn. Furthermore, the Owner may be obliged to retain Personal Data for a longer period whenever required to do so for the performance of a legal obligation or upon order of an authority.

Once the retention period expires, Personal Data shall be deleted. Therefore, the right to access, the right to erasure, the right to rectification and the right to data portability cannot be enforced after expiration of the retention period.

The purposes of processing
The Data concerning the User is collected to allow the Owner to provide its Service, comply with its legal obligations, respond to enforcement requests, protect its rights and interests (or those of its Users or third parties), detect any malicious or fraudulent activity, as well as the following: Contacting the User, Analytics, Managing contacts and sending messages, Advertising, Displaying content from external platforms, Traffic optimization and distribution, Remarketing and behavioral targeting, User database management, Managing support and contact requests, Interaction with live chat platforms, Interaction with support and feedback platforms, Interaction with external social networks and platforms, SPAM protection, Tag Management, Registration and authentication, Managing landing and invitation pages, Hosting and backend infrastructure, Data transfer outside the EU, Backup saving and management and Handling payments.

For specific information about the Personal Data used for each purpose, the User may refer to the section “Detailed information on the processing of Personal Data”.

Detailed information on the processing of Personal Data
Personal Data is collected for the following purposes and using the following services:

Backup saving and management
This type of service allows the Owner to save and manage backups of this Application on external servers managed by the service provider itself. The backups may include the source code and content as well as the data that the User provides to this Application.

Amazon
Amazon provides services to save and manage backups provided by Amazon Web Services Inc.

Personal Data collected: various types of Data as specified in the privacy policy of the service.

Place of processing: Frankfurt, Germany –Privacy Policy.

Contacting the User
Contact form (this Application)
By filling in the contact form with their Data, the User authorizes this Application to use these details to reply to requests for information, quotes or any other kind of request as indicated by the form’s header.

Mailing list or newsletter (this Application)
By registering on the mailing list or for the newsletter, the User’s email address will be added to the contact list of those who may receive email messages containing information of commercial or promotional nature concerning this Application. Your email address might also be added to this list as a result of signing up to this Application or after making a purchase.

Data transfer outside the EU
The Owner is allowed to transfer Personal Data collected within the EU to third countries (i.e. any country not part of the EU) only pursuant to a specific legal basis. Any such Data transfer is based on one of the legal bases described below.
Users can inquire with the Owner to learn which legal basis applies to which specific service.

Data transfer from the EU and/or Switzerland to the U.S based on Privacy Shield (this Application)
If this is the legal basis, the transfer of Personal Data from the EU or Switzerland to the US is carried out according to the EU - U.S. and Swiss - U.S. Privacy Shield.
In particular, Personal Data is transferred to services that self-certify under the Privacy Shield framework and therefore guarantee an adequate level of protection of such transferred Data. All services are listed within the relevant section of this document and those that adhere to Privacy Shield can be singled out by checking their privacy policy and possibly also by specifically checking for Privacy Shield adherence in the official Privacy Shield List. Privacy Shield also specifically guarantees rights to Users which can be found in its most current form on the website run by the US Department of Commerce.
Personal Data may be transferred from within the EU or Switzerland to the U.S. to services that are not, or not anymore, part of Privacy Shield, only based on other valid legal grounds. Users can ask the Owner to learn about such legal grounds.

Displaying content from external platforms
This type of service allows you to view content hosted on external platforms directly from the pages of this Application and interact with them.
This type of service might still collect web traffic data for the pages where the service is installed, even when Users do not use it.

YouTube video widget (Google LLC)
YouTube is a video content visualization service provided by Google LLC that allows this Application to incorporate content of this kind on its pages.

Personal Data collected: Cookies; Usage Data.

Place of processing: United States –Privacy Policy. Privacy Shield participant.

Hosting and backend infrastructure
This type of service has the purpose of hosting Data and files that enable this Application to run and be distributed as well as to provide a ready-made infrastructure to run specific features or parts of this Application. Some of these services work through geographically distributed servers, making it difficult to determine the actual location where the Personal Data are stored.

Amazon Web Services (AWS) (Amazon Web Services, Inc.)
Amazon Web Services (AWS) is a hosting and backend service provided by Amazon Web Services, Inc.

Personal Data collected: various types of Data as specified in the privacy policy of the service.

Place of processing: Frankfurt, Germany –Privacy Policy. Privacy Shield participant.

Managing contacts and sending messages/emails
This type of service makes it possible to manage a database of email contacts, phone contacts or any other contact information to communicate with the User.
These services may also collect data concerning the date and time when the message was viewed by the User, as well as when the User interacted with it, such as by clicking on links included in the message.

Mailgun
Mailgun is an email address management and message sending service provided by Mailgun Technologies, Inc.

Personal Data collected: company name; country; email address; first name; last name.

Place of processing: United States –Privacy Policy.

Registration and authentication
By registering or authenticating, Users allow this Application to identify them and give them access to dedicated services.
Depending on what is described below, third parties may provide registration and authentication services. In this case, this Application will be able to access some Data, stored by these third-party services, for registration or identification purposes.

Direct registration (this Application)
The User registers by filling out the registration form and providing the Personal Data directly to this Application.

The rights of users
Users may exercise certain rights regarding their Data processed by the Owner.

In particular, Users have the right to do the following:

Withdraw their consent at any time. Users have the right to withdraw consent where they have previously given their consent to the processing of their Personal Data.
Object to processing of their Data. Users have the right to object to the processing of their Data if the processing is carried out on a legal basis other than consent. Further details are provided in the dedicated section below.
Access their Data. Users have the right to learn if Data is being processed by the Owner, obtain disclosure regarding certain aspects of the processing and obtain a copy of the Data undergoing processing.
Verify and seek rectification. Users have the right to verify the accuracy of their Data and ask for it to be updated or corrected.
Restrict the processing of their Data. Users have the right, under certain circumstances, to restrict the processing of their Data. In this case, the Owner will not process their Data for any purpose other than storing it.
Have their Personal Data deleted or otherwise removed. Users have the right, under certain circumstances, to obtain the erasure of their Data from the Owner.
Receive their Data and have it transferred to another controller. Users have the right to receive their Data in a structured, commonly used and machine readable format and, if technically feasible, to have it transmitted to another controller without any hindrance. This provision is applicable provided that the Data is processed by automated means and that the processing is based on the User's consent, on a contract which the User is part of or on pre-contractual obligations thereof.
Lodge a complaint. Users have the right to bring a claim before their competent data protection authority.
Details about the right to object to processing
Where Personal Data is processed for a public interest, in the exercise of an official authority vested in the Owner or for the purposes of the legitimate interests pursued by the Owner, Users may object to such processing by providing a ground related to their particular situation to justify the objection.

Users must know that, however, should their Personal Data be processed for direct marketing purposes, they can object to that processing at any time without providing any justification. To learn, whether the Owner is processing Personal Data for direct marketing purposes, Users may refer to the relevant sections of this document.

How to exercise these rights
Any requests to exercise User rights can be directed to the Owner through the contact details provided in this document. These requests can be exercised free of charge and will be addressed by the Owner as early as possible and always within one month.

Cookie Policy
Cookies and other Identifiers consist of portions of code installed in the browser that assist the Owner in providing the Service according to the purposes described. Some of the purposes for which Cookies are installed may also require the User's consent.

Where the installation of Cookies is based on consent, such consent can be freely withdrawn at any time following the instructions provided in this document.

Since the installation of third-party Cookies and other tracking systems through the services used within this Application cannot be technically controlled by the Owner, any specific references to Cookies and tracking systems installed by third parties are to be considered indicative. In order to obtain complete information, the User is kindly requested to consult the privacy policy for the respective third-party services listed in this document.

Given the objective complexity surrounding the identification of technologies based on Cookies, Users are encouraged to contact the Owner should they wish to receive any further information on the use of Cookies by this Application.

Technical Cookies and Cookies serving aggregated statistical purposes
Activity strictly necessary for the functioning of the Service
This Application uses Cookies to save the User's session and to carry out other activities that are strictly necessary for the operation of this Application, for example in relation to the distribution of traffic.

Activity regarding the saving of preferences, optimization, and statistics
This Application uses Cookies to save browsing preferences and to optimize the User's browsing experience. Among these Cookies are, for example, those used for the setting of language and currency preferences or for the management of first party statistics employed directly by the Owner of the site.

Other types of Cookies or third parties that install cookies
Some of the services listed in this privacy policy collect statistics in an anonymized and aggregated form and may not require the consent of the User or may be managed directly by the Owner - depending on how they are described - without the help of third parties.

If any third party operated services are listed in this privacy policy, these may be used to track Users’ browsing habits – in addition to the information specified herein and without the Owner’s knowledge. Please refer to the privacy policy of the listed services for detailed information.

How to provide or withdraw consent to the installation of Cookies
In addition to what is specified in this document, the User can manage preferences for Cookies directly from within their own browser and prevent – for example – third parties from installing Cookies.
Through browser preferences, it is also possible to delete Cookies installed in the past, including the Cookies that may have saved the initial consent for the installation of Cookies by this website.
Users can, for example, find information about how to manage Cookies in the most commonly used browsers at the following addresses: Google Chrome, Mozilla Firefox, Apple Safari and Microsoft Internet Explorer.

With regard to Cookies installed by third parties, Users can manage their preferences and withdrawal of their consent by clicking the related opt-out link (if provided), by using the means provided in the third party's privacy policy, or by contacting the third party.

Notwithstanding the above, Users are hereby informed that they may follow the instructions provided by YourOnlineChoices (EU), the Network Advertising Initiative (US) and the Digital Advertising Alliance (US), DAAC (Canada), DDAI (Japan) or other similar services. Such initiatives allow Users to select their tracking preferences for most of the advertising tools. The Owner thus recommends that Users make use of these resources in addition to the information provided in this document.

Additional information about Data collection and processing
Legal action
The User's Personal Data may be used for legal purposes by the Owner in Court or in the stages leading to possible legal action arising from improper use of this Application or the related Services. The User declares to be aware that the Owner may be required to reveal personal data upon request of public authorities.

Additional information about User's Personal Data
In addition to the information contained in this privacy policy, this Application may provide the User with additional and contextual information concerning particular Services or the collection and processing of Personal Data upon request.

System logs and maintenance
For operation and maintenance purposes, this Application and any third-party services may collect files that record interaction with this Application (System logs) use other Personal Data (such as the IP Address) for this purpose.

Information not contained in this policy
More details concerning the collection or processing of Personal Data may be requested from the Owner at any time. Please see the contact information at the beginning of this document.

How “Do Not Track” requests are handled
This Application does not support “Do Not Track” requests. To determine whether any of the third-party services it uses honor the “Do Not Track” requests, please read their privacy policies.

Changes to this privacy policy
The Owner reserves the right to make changes to this privacy policy at any time by notifying its Users on this page and possibly within this Application and/or - as far as technically and legally feasible - sending a notice to Users via any contact information available to the Owner. It is strongly recommended to check this page often, referring to the date of the last modification listed at the bottom.

Should the changes affect processing activities performed on the basis of the User’s consent, the Owner shall collect new consent from the User, where required.

Definitions and legal references
Personal Data (or Data)
Any information that directly, indirectly, or in connection with other information — including a personal identification number — allows for the identification or identifiability of a natural person.

Usage Data
Information collected automatically through this Application (or third-party services employed in this Application), which can include: the IP addresses or domain names of the computers utilized by the Users who use this Application, the URI addresses (Uniform Resource Identifier), the time of the request, the method utilized to submit the request to the server, the size of the file received in response, the numerical code indicating the status of the server's answer (successful outcome, error, etc.), the country of origin, the features of the browser and the operating system utilized by the User, the various time details per visit (e.g., the time spent on each page within the Application) and the details about the path followed within the Application with special reference to the sequence of pages visited, and other parameters about the device operating system and/or the User's IT environment.

User
The individual using this Application who, unless otherwise specified, coincides with the Data Subject.

Data Subject
The natural person to whom the Personal Data refers.

Data Processor (or Data Supervisor)
The natural or legal person, public authority, agency or other body which processes Personal Data on behalf of the Controller, as described in this privacy policy.

Data Controller (or Owner)
The natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of Personal Data, including the security measures concerning the operation and use of this Application. The Data Controller, unless otherwise specified, is the Owner of this Application.

This Application
The means by which the Personal Data of the User is collected and processed.

Service
The service provided by this Application as described in the relative terms (if available) and on this site/application.

European Union (or EU)
Unless otherwise specified, all references made within this document to the European Union include all current member states to the European Union and the European Economic Area.

Cookies
Small sets of data stored in the User's device.

Legal information
This privacy statement has been prepared based on provisions of multiple legislations, including Art. 13/14 of Regulation (EU) 2016/679 (General Data Protection Regulation).

This privacy policy relates solely to this Application, if not stated otherwise within this document.

Terms & Conditions

These General Terms apply to all services that Payc or one of its subsidiaries provide. The Terms & Conditions must be read. These Terms govern the contractual relationship between the user of the Payc Products and certain companies of Payc. The Terms are legally binding. Please read them carefully before using any of Payc services. This document comes into force upon its publication. Words in the singular include the plural, and vice versa, those in masculine also include feminine.

Introduction
"Client" or "Clients" are both corporate bodies (legal entities, foundations, associations, etc.) and individuals who are using and/or intending to use the services provided by Payc.

"Services" are understood to be services provided through the Payc Products operated by Payc or any other service provided by a Payc entity.

"Cryptocurrency" means a type of digital currency based on blockchain technology.

"Fiat Currency" means an official currency regulated by a government and that is not backed by a physical commodity.

"Digital Assets", for the purposes of these Terms shall include, but shall not be limited to, generally accepted crypto-currencies (e.g. Bitcoin, Ether, etc.) and other forms of tokenized assets (e.g. protocol, utility and payment tokens, etc.) and all associated contracts and options for present or future delivery of tokenized assets. A tokenized asset is understood as a digital representation of an asset on or off a blockchain.

"Decentralized Exchange" (DEX) is a cryptocurrency exchange which operates in a decentralized way, i.e., without a central authority. Decentralized exchanges allow peer-to-peer trading of cryptocurrencies.

Payc Account means, the Clients’ user account maintained on the Payc Products displaying Client’s information.

These Terms describe the conditions which Clients accept and abide throughout its relationship with Payc. It is the Client's responsibility to read and understand these Terms and its amendments.

The Client understands and acknowledges that Payc may change the provisions set forth herein at any time without any prior notice requirement and that the Terms are not, under any circumstance, negotiable. Changes will be published online on Payc's websites.

Scope
The Terms shall govern the relationship between the Client and Payc (hereinafter collectively referred to as the "Parties"), subject to general industry standards and established rules of practice. In particular, the provisions set forth below shall govern the legal relationship between the Parties with regard to use of the Payc Products for the purpose of tracking, configuring, receiving and performing payments using the Payc Products.

Peer-to-peer transactions - Not a financial intermediary
Payc simplifies performing peer-to-peer transactions between unhosted wallets on decentralized blockchain networks in accordance to the Financial Action Task Force's (FATF's) defintion of peer-to-peer transactions where two unhosted wallets act on their own behalf.

Payc does not perform any transactions, especially not on other people's behalf. Transactions are sent by unhosted wallets on people's own behalf using their self hosted crypto wallets and those transactions are executed by blockchain networks.

In a technology-neutral way, Payc is the piece of paper, the payment slip that carries information to allow people to perform a transaction themselves, on their own behalf, using technologies Payc neither runs, nor provides, nor has control over.

Provision of free, open-source software (under MIT)
Payc offers free, basic, open-source software to allow people to perform decentralized, peer-to-peer payements on decentralized blockchain networks.

All of Payc's open-source software is provisioned under the MIT open-source software license.

MIT License:

Permission is hereby granted, free of charge, to any person obtaining a copy of this software and associated documentation files (the "Software"), to deal in the Software without restriction, including without limitation the rights to use, copy, modify, merge, publish, distribute, sublicense, and/or sell copies of the Software, and to permit persons to whom the Software is furnished to do so, subject to the following conditions:

The above copyright notice and this permission notice shall be included in all copies or substantial portions of the Software.

The software is provided "as is", without warranty of any kind, express or implied, including but not limited to the warranties of merchantability, fitness for a particular purpose and noninfringement. In no event shall the authors or copyright holders be liable for any claim, damages or other liability, whether in an action of contract, tort or otherwise, arising from, out of or in connection with the software or the use or other dealings in the software.

Provision of centralized services
Registration
Registering a Payc Account – besides using Payc's open-source software – allows clients to easily manage decentralized, peer-to-peer payments for their applications and use cases. Using the open-source payment technologies provided by Payc does not require registration. The payment technologies and protocols itself are decentralized, open-source and processed by blockchain networks.

Account creation
In order to engage in centralized services on the Payc Products, the Client must create a Payc Account and provide all requested information to Payc. When a Payc Account is created, the Client agrees and warrants to:

using secure ledgers/wallets for cryptographically secure account/wallet identification and authentication;
users must use a ledger/wallet that is protected from unauthorized access at all times;
to ensure secure identification and authentication, users must use an email that is protected from unauthorized access at all times;
provide accurate and truthful information;
maintain and promptly update the Payc Account information;
promptly notify Payc if the Client discovers or otherwise suspects any security breaches related to the Payc Account; and
take responsibility for all activities that occur under the Payc Account and accept all risks of any authorized or unauthorized access to the Payc Account, to the maximum extent permitted by law.
End user
Payc end user licenses for centralized services apply on a per wallet address/account base. Per wallet address/account you need to purchase one end user license to access Payc's centralized services and products.

In case you change to or start using another wallet address/account you will need to purchase an end user license for that new wallet address/account in order to access Payc's centralized services and products for that wallet address/account.

Joint accounts
The client is not allowed to share the account with another individual or entity.

Reseller licenses
Payc may grant reseller licenses on an individual base under individual terms.

We appoint resellers and resellers agree to be appointed as an authorized, non-exclusive reseller and distributor of the Payc Products.

Resellers are allowed to activate end user licenses for their clients and to retrieve data collected for the end users they reselled to.

You must not resell or distribute, without Payc’s prior written consent, a Payc Product to any person or entity that resells or distributes, or intends to resell or distribute, the Payc Product. If Payc permits you to engage in sub-distribution or sub-resale, you must ensure that the sub-distributor or sub-reseller (as the case may be) complies with these Terms, and you are responsible for any liability incurred by Payc due to a sub-distributor’s or sub-reseller’s failure to do so.

Account security incidents
If the Clients suspects that his Payc Account or any of the security details have been compromised or the Client becomes aware of any fraud or attempted fraud or any other security incident (including a cyber-security attack) affecting the Payc Account and/or Payc (together a "Security Breach"), the Client must notify Payc as soon as possible and continue to provide accurate and up to date information throughout the duration of the Security Breach. The Client must take all steps that are reasonably required to reduce, manage or report any Security Breach. Failure to provide prompt notification of any Security Breach may lead to the loss of Digital Assets maintained on the Payc Account.

Blockchain Ledger/Wallet
In order to access the Payc Products, the Client is required to use a crypto wallet or a ledger. The Client is responsible for keeping the electronic device through which he accesses the Payc Products safe and maintaining adequate security and control of any and all security details used to access the Payc Products. This includes taking all reasonable steps to avoid the loss, theft or misuse of such electronic device and ensuring that such electronic device is encrypted, and password protected. Any loss or compromise of the Client´s electronic device or security details may result in unauthorized access to the Payc Account by third-parties.

Authorization
Any person logging onto the system by using the Clients wallet/ledger shall have access to the Payc Products. The Client shall be obliged to keep their wallet/ledeger – especially it's private key and/or seed phrase – secret at all times, to keep it out of reach of third parties and to protect it from misuse. The Client shall bear sole responsibility for any consequences of the loss or misuse of his private key and or seedphrase and/or wallet/ledger. Payc shall not be liable for any damage resulting from the loss or misuse of the Client's private key, seedphrase, wallet or ledger. Except for gross negligence on the part of Payc, any loss or damage arising from invalidity or undiscovered fraud shall be borne by the Client. The Client undertakes to inform Payc immediately if the Payc Account needs to be blocked. At its discretion, Payc may likewise introduce and require additional levels of identification, such as 2-Factor-Authentication.

Documentation
Payc shall request additional information and/or documentation when deemed necessary to clarify any doubts relating to the Client's identity, the purpose of the relationship and/or related to any other topic. The Client accepts that depending on the service chosen, Payc may request further information and documents.

The client acknowledges that the deliberate provision of false information during the acceptance procedure is liable to prosecution according to Art. 251 Swiss Criminal Code E.

Payc is not, under any circumstance, obliged to return the documents provided by the Clients.

Acceptance
Payc shall unilaterally accept or reject potential Clients without giving reasons in accordance with its own internal rules, as well as international Anti-Money Laundering and Countering of Terrorism Financing regulations and guidelines (hereafter, "AML & CTF regulations and guidelines").

Termination
This Agreement is effective until terminated.

Payc has the right to terminate this Agreement with immediate effect as set forth herein for a breach of this Agreement by clients or if Payc reasonably suspects that clients have failed to abide by any of the terms and conditions of this Agreement. Payc may take any action Payc deems reasonable in it's sole discretion against clients who do not comply with the terms of this Agreement which may include banning clients. Payc reserves the right to determine what conduct to consider to be in violation of, or otherwise outside the intent or spirit of, this Agreement.

Payc reserves the right to block the Client's access to centralized services at any time, without explanation and without notice, to the extent it deems such blockage appropriate. The Client may at any time request Payc to terminate its Payc account with immediate effect.

Payc cannot block access to payment protocols and peer-to-peer payment tools and products that already have been deployed to decentralized blockchain networks.

Fiscal responsibility
The Client is aware and accepts that Payc does not provide any tax or legal advice of any kind. The Client confirms that he is in compliance with the tax regulations of the country or countries in which he assumes fiscal responsibility. Payc shall not verify the fiscal integrity of the Client and accepts no responsibility in this regard. The Client is aware that it is his responsibility to ensure that the fiscal implications of his activities with Payc are controlled. The Client will, if need be, request advice from legal or tax experts.

Lack of legal capacity
Damage resulting from the Client's lack of legal capacity shall be exclusively borne by the Client. In any event, the Client shall bear any damage resulting from lack of legal capacity on the part of other third parties having access to the Client's Payc Account.

Payc products
Payc provides an online, decentralized payment system that converts almost any digital asset to any other digital asset for the means of performing a payment using decentralized blockchain networks.

Payc as well as other Group entities undertake to make its technical systems and specialist knowledge available to Client to enable the latter to execute and receive payments. Payc grants its Clients the access to and right to use the Payc Products. Certain services are subject to fees according to a separate fee schedule.

The access and right of use are non-exclusive and non-transferable. The Client shall not be entitled in any event to copy, modify, reproduce the software provided by Payc nor to distribute it in any other way, except when explicitly allowed by Payc. Exceptions may apply to certain parts of the software under open source licensing when explicitly announced by Payc. The Client shall be liable to Payc for any damage resulting directly or indirectly from any infringement of this provision.

Information disclosed on the Payc Products
Payc strives to maintain the accuracy of information published on it's Platform and it's Products. However, it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content on the platform and will not accept any liability for any loss or damage that may arise directly or indirectly from the content. Information on the platform can be subjected to change without notice and is provided for the primary purpose of facilitating Clients to arrive at independent decisions.

Payment processing
Payc provides software to enable peer-to-peer payments on decentralized blockain technologies. Payc does not process those payments nor holds custody of any funds at any time. This is subject to the individual blockain network.

Failed or delayed execution of payments
Payc is not liabile in the event of a failed or delayed execution of a payment due to the technical nature of blockchains.

Delayed execution is subject to blockchain network congestion during the time of the payment execution. Payment execution speed is also controlled by the selected amount of fees paid to the network to include the transaction into the respective blockchain which ultimately lies in the control of the payer.

Failed payment transactions are natrually reverted on all blockchain networks and can happen for various reasons. Payc is not liabile for the lost fees paid to the blockchain network to include the payment transaction into the blockchain.

Blockchain hard forks and reorgs
A hard fork (or hardfork), is a radical change to a network's protocol that makes previously invalid blocks and transactions valid, or vice-versa. A hard fork requires all nodes or users to upgrade to the latest version of the protocol software.

A chain reorganization, or “reorg,” occurs when a blockchain produces blocks at the same time, e.g. if there is a bug, or due to a malicious attack. This results in a temporary duplicate blockchain. The longer a reorg lasts, the more damage is done to the network. Reorgs result in one or multiple blocks being removed from the blockchain since a longer chain has been created.

Payc is not liabile in the event of a blockchain network hard fork nor a network reorg.

Outsourcing
Payc reserves the right to outsource all or part of its activities under its monitoring and its own responsibility, with respect to the applicable legal and regulatory provisions in this regard. Payc is thus authorized to call on the assistance of Group entities or independent companies. Where information regarding the Client is communicated to an external service provider or another Group entity, this is covered by the rules on data protection.

Exclusion of liability
Payc shall not be held liable by the Client for proven damage resulting from any action or omission, except in the event of malicious intent or gross negligence. In the event of an error made by a service provider, Payc shall only be responsible if it neglected its obligations of due diligence when selecting and instructing the service provider.

Fees
Fees, remuneration and compensation
Payc shall credit and debit commission, agreed or standard fees due in accordance with the schedule published on its website. Payc reserves the right to modify its rates and commission at any time, particularly in the event of changes in market conditions. It shall inform the Client thereof by means of circular, publication on its website, e-mail, notification in the Client's account, or by any other means deemed appropriate. These changes are considered to have been approved unless challenged in writing within one month. The Client acknowledges and accepts that Payc may be required to pay to third parties, especially blockchain network fees, compensation, remuneration and other benefits, including retrocessions and other indirect monetary benefits (hereinafter "remunerations") for the provision of services. These remunerations are paid by the User and/or based on the assets converted for performing payments. In the event of conflicts of interest based on the services indicated above, Payc shall ensure that the Client's interests are protected. Payc is free to set the amount of compensation for complementary services which are not subject to a fee or service tariff but which it has provided to the Client at his request and in his presumed interest and, based on the situation, which may only be requested in return for compensation.

Confidentiality
Confidentiality and renunciation of confidentiality
Payc is committed to adhere to confidentiality and secrecy regulations. Payc is aiming to observe the strictest discretion regarding business relationships with its Clients. The provided confidentiality remains valid, even after these relationships have ceased. The Client hereby releases Payc from its duty of confidentiality insofar as this is necessary in order to protect the Client's and/or Payc's legitimate interests, in particular:

in the event of supervisory or other competent authorities' actions
in the event of legal action being instigated by the Client against the Payc;
to secure Payc's claims or realize collateral provided by the Client or third parties;
for the purpose of establishing interests in favor of a third party;
for the purpose of collecting claims held by Payc against the Client;
in the event of accusations made by the Client against Payc in public or before domestic or foreign authorities;
Payc is explicitly authorized to disclose confidential information to fulfill its legal, administrative and/or statutory duties of disclosure.

Various
Confirmations and/or notifications
All notifications from Payc may, at its own discretion, be sent by e-mail or any other mode of communication deemed appropriate by Payc. Notifications shall be deemed duly delivered as soon as they have been sent to the most recent address supplied by the Client to Payc. The Client shall bear all risk of delay, loss or falsification of the notifications sent to him. The Clients are fully responsible for acknowledging the content and consequences of the notifications, as well as take the necessary actions where required.

Monitoring and recording of communication
The Client explicitly authorizes Payc to record and store, without further prior notice, conversations and other communications, particularly electronic communications, in a manner which Payc at its discretion deems appropriate, and to monitor the Client's electronic communications with Payc. In the event of disputes, Payc reserves the right to make use of such recordings as means of evidence.

Hardware/Software and access to Payc products/website
The Client shall assume responsibility for technical access to Payc's services. The Client shall be responsible for acquiring, installing and configuring hardware and software appropriate to establish a connection to the Payc Products (computer, modem, bowser, etc.), as well as contracting Internet service provider. Consequently, Payc shall not assume any responsibility for the Internet service provider or for any software and hardware failure. Save where guilty or gross negligence or willful intent, Payc shall not be liable for any damage resulting from the Client's failure to perform his contractual obligations due to lack of Internet access and/or any hardware or software deficiency towards Payc or in connection with trading and exchanging operations. Payc is not liable for any damage or interruptions caused by any computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect the Client´s computer or other equipment, or any phishing, spoofing or other attack. Payc advises the regular use of a reputable and readily available virus screening and prevention software. The Client should be aware that SMS and email services are vulnerable to spoofing and phishing attacks and should use care in reviewing messages purporting to originate from us. Payc client support will never ask to screen share or otherwise seek to access Client´s computer or account; similarly, Payc will not ask for the two actor authentication codes. The Client should always log into his Payc Account through the Payc website to review any transactions or required actions in case of any uncertainty regarding the authenticity of any communication

Reservation of legal requirements
All existing or future statutory provisions, administrative regulations and other applicable regulatory requirements in the field of the provided services, data protection, money laundering and the operation and use of the Internet and any other provision or regulation governing the services offered by Payc are reserved and shall apply to the provision of Payc's services as of their entry into force.

Client support
Any complaint by the Client concerning the execution or non-execution of any payment, and any objections concerning a Payc Account statement or any other notifications from Payc must be made immediately. The execution or non-execution or, as applicable, the statement or notification concerned shall be deemed to have been approved if no complaint was raised. Where the Client has received no notification, he must make the complaint as if such notification had been duly received. The Client shall bear the consequences of any delay in making the complaint. Express or tacit acknowledgement of an account or custody account statement shall be deemed to constitute approval of all the items it includes and of any reservation made by Payc.

Copyright & marks
You must not remove or change any copyright, trademark, trade name, logo, or other notice, legend, symbol, or label appearing on or in the Payc Products; except that you may include your own trademarks, trade names, and service marks.

Amendment of these Terms
Payc shall be entitled to amend the provisions of this Agreement and the services offered unilaterally at any time. Such amendment shall be notified to the Client in an appropriate manner and shall be deemed accepted unless the Client submits a written objection within one month of the date on which the amendment was notified. Should any provision of the present Conditions and Regulations be or become invalid or partially ineffective, the other provisions shall not be affected, and the Parties shall use their best efforts to reach agreement or have the invalid provision replaced by a valid arrangement coming as close as possible to the purpose of the invalid provision and to the intention of the parties affected by this provision.

The Client accepts the Terms and all legal information published on Payc's websites.

Access to and use of the Payc Account and the Payc Products services shall be subject to client's compliance with all provisions set forth in the Terms.

 

Disclaimer

No Advisory Information

This website does not provide investment advice, financial counsel, trading recommendations, or endorsements by PAYC, its affiliates, officers, directors, managers, employees, agents, advisors, or consultants on the value of acquiring PAYC tokens, nor should it be relied upon in any contract or purchase decision.

Non-Security Offering

This website does not constitute a prospectus or financial service offering document and does not present an offer to sell or a solicitation to buy any security, investment products, regulated products, or financial instruments in any jurisdiction. PAYC tokens are not being structured or sold as securities by PAYC. Ownership of PAYC tokens does not entitle holders to any rights in PAYC or its affiliates, including equity, shares, units, capital royalties, profit, returns, or income from PAYC or any other associated company or intellectual property.

No Assertions

No guarantees or warranties have been provided to the recipient of this website or its advisors regarding the accuracy, completeness, or credibility of information, statements, opinions, or matters (express or implied) arising from or contained within this website, or any omissions from this document or other written or oral information shared now or in the future with any interested party or their advisors. The PAYC tokens, as described in this website, are in development and subject to constant updates, including key governance and technical features. No assurance is given regarding the success or reasonableness of future plans or prospects, and nothing in this document should be relied upon as a promise or prediction about the future. To the maximum extent allowed, all liability for any type of loss or damage (whether foreseeable or not, and whether or not PAYC has been warned about the possibility of such loss or damage) arising from actions based on information and opinions within this website, or any information from further inquiries, even if negligence or lack of care is involved, is disclaimed.

Third-Party Data

This website includes data and references from third-party sources. While the management believes these data are accurate and reliable, they have not been independently audited, verified, or analyzed by professional advisors. There is no guarantee of the accuracy, reliability, or completeness of this data.

Translations

This website and related materials are provided in English. Translations are for reference purposes only and not certified by any party. The accuracy and completeness of translations cannot be assured. If there is a discrepancy between a translation and the English version, the English version prevails.

Limited Distribution

This website should not be taken or transmitted to any jurisdiction where distribution or dissemination is prohibited or restricted.

Views of PAYC

Views and opinions expressed in this website are those of PAYC and do not reflect official policies or positions of any government, quasi-government, authority, or public body (including regulatory bodies) in any jurisdiction. Regulatory authorities have not reviewed this website.

Third-Party References

References in this website to specific companies, networks, or potential use cases are for illustrative purposes only. Using company names or trademarks does not imply affiliation, endorsement, or recommendation. All references to "dollars," USD, or "$" refer to United States Dollars unless stated otherwise.

Graphics

Graphics in this website are for illustration purposes only. Graphics with price references do not convey actual pricing information.

Risk Statements

Buying PAYC tokens involves substantial risk and could result in a significant loss or complete loss of invested funds. Before purchasing PAYC tokens, assess and understand the risks, including those outlined in other documentation. Don't buy PAYC tokens for speculative or investment purposes. Only acquire PAYC tokens if you fully comprehend their nature and accept their inherent risks. Cryptographic tokens may be vulnerable to expropriation or theft by malicious parties that interfere with systems through various methods, leading to loss or loss of access. Legal and regulatory uncertainties may affect rights related to acquiring, owning, holding, selling, converting, trading, or using cryptographic tokens. Tax legislation uncertainty can result in unforeseen tax consequences for token holders. Digital assets and related products carry significant risks. Consider the above and assess relevant risks independently, seeking advice before making decisions.

Professional Advice

Consult legal, accounting, tax professionals, and advisors before deciding to purchase PAYC tokens.

Caution on Forward-Looking Statements

This website contains forward-looking statements based on beliefs and assumptions, subject to risks beyond PAYC's control. These could cause actual results to differ from forward-looking statements. Any forward-looking statement is only accurate as of its date. PAYC has no obligation to update forward-looking statements to reflect events or unanticipated circumstances.

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