Terms & Conditions for payment participation P2P service Bitpapa Pay

 

Please read these terms carefully before using payment participation service. Using the online payment payment participation service on Bitpapa.com services indicates that you accept these terms. If you do not accept these terms do not use this payment participation service.

These general terms and conditions regarding the delivery of the Service to the Merchant by the Supplier constitute an integral part of the Agreement (General Terms and Conditions). 

Definitions:

Customer – Merchant’s client who purchases goods and services of the merchant’s site through the Supplier’s service.

Merchant – ecommerce merchant is someone who sells goods/provides services exclusively over the Internet. For the purposes of these Terms, “the merchant” is also understood as the owner or manager of the site through which the above actions are carried out.

Payment Gateway – is a transfer service that allows Customers to make payments by credit and debit cards, as well as numerous alternative payment methods, certified in accordance with international PCI DSS data transfer security standard.

Payment participation P2P service – is a transfer service that allows Customers to make payments on Merchant’s service by using peer-to-peer marketplace to engage in transactions with digital assets.

Payment processor – is a company or financial institution that a Merchant chooses to process their online transactions such as credit and debit card payments (Visa, Mastercard, American Express, World) or alternative payment methods (Alipay, WeChat, etc.).

Supplier (The Service) – payment participation service Bitpapa PAY, that provides payment participation P2P service for Merchants.

 

1. Service’s role

   1. Bitpapa.com is a “peer-to-peer marketplace to enable buyers and sellers of Digital Assets (including, but not limited to cryptocurrencies, i.e. digital currencies such as Bitcoin, Tether, Ethereum) to engage in transactions with each other (the «Marketplace»), offering hosted digital wallet services, holding and releasing Cryptocurrency as instructed upon completion of a purchase of Cryptocurrency and any other services described in this Agreement provided by Tech Labs BDC Ltd. 

   2. Bitpapa.com is not a payment processor – a bank, payment institution, internet acquiring, or money services business, but are instead, respectively, a supplier of the services supplied under the under this Agreement.

   3. The Service is not a “payment gateway” certified in accordance with international PCI DSS data transfer security standard. Providing their services, Bitpapa.com is not operate fiat assets and payment institutions.

   4. Supplier will provide the Service to the Merchant for the purpose of transmitting Merchant’s ecommerce payment trans- actions to agreed P2P payment method providers. For the sake of clarity it is noted that the Service does not comprise any transfer of funds.

   5. For making all payments for purchases on the Merchant’s website, Customer shall be required to make a payment for which Customer will be redirected to a third-party payment participation service Bitpapa PAY - https://bitpapa.com

   6. After redirection to the Supplier's website, the procedure for conducting transactions, tariffs and other conditions is determined in accordance with The Terms and Conditions – User Agreement https://bitpapa.com/user-agreement

   7. The Service is available 24 hours a day for the transmission of ecommerce payment transactions. The Supplier will endeavour to provide availability of 99,5 %. 

   8. The Supplier shall not be responsible for the functionality or availability of third party services, e.g. telecommunication ser- vices or services of card payment acquirers and other payment method providers. 

   9. The Supplier shall provide support to the Merchant as specified from time to time on the Supplier’s website. Support may be subject to separate charge. 

   10. The Supplier is entitled to interrupt the use of the Service if necessary due to maintenance, security breach, repair or devel- opment of the Service or if there is another justified reason for an interruption. The Supplier notifies the Merchant of any inter- ruption in the use of the Service in advance, if possible. 

   11. The Supplier informs the Merchant of significant changes to the Service that require changes to the Merchant’s ecom- merce solution integration with the Service thirty (30) days prior to the change taking effect. The Merchant undertakes to update its ecommerce solution within the time limit specified by the Supplier. The Merchant is responsible for its own costs in respect of changes to its own systems, as well as for the imple- mentation and testing thereof. 

   12. Bitpapa.com has obtained all necessary licenses under local legislation, that require us to be subject to AML and KYC.

 

1. The Merchant’s role

   1. The Merchant is responsible for the necessary implementation of/or adaptation to its ecommerce solution in order to enable communication with the Service. 

   2. The Merchant must carry out testing of the integration of its ecommerce solution with the Service in accordance with the Supplier’s instructions before the Service can be deployed. The Merchant is responsible for any and all expenses incurred related to implementation and testing. 

   3. The Merchant’s equipment and ecommerce solution must at all times comply with the requirements and specifications specified by the Supplier for the use of the Service. 

   4. The Merchant must inform the Supplier in writing and with-
      out undue delay of any change in the Merchant’s information that may affect the Agreement or the Service, including but not limited to changes to the Merchant’s address, telephone number, and e-mail address. The Merchant must also inform the Supplier of the termination or signing of agreements with card payment acquirers and/or other payment method providers. The Merchant is responsible for the accuracy and completeness of the information supplied to the Supplier. 

   5. The Merchant must notify the Customer that he, like the Merchant, must accept the The Terms and Conditions – User Agreement https://bitpapa.com/user-agreement when using the Service.

   6. The Merchant is responsible for its Customers in a part of AML and KYC. Using the  the Service, the Merchant confirms the good faith of the counterparty and goodwill, including in relation to its Customers. The Merchant accepted AML Policy - https://bitpapa.com/aml-policy when using the Service.

   7. The Merchant is responsible for usage of Customers personal data according to Merchant’s privacy policies. Supplier is not the Operator of Customers personal data, when it provides service of payment participation.

2. Prices and Terms of Payment 

3.1. The Merchant shall pay the fees for the Service and other charges as per the Supplier’s SERVICE CONTRACT Рayment participation P2P service Bitpapa PAY (Appendix №1.1).

 

SERVICE CONTRACT

Рayment participation P2P service 

Bitpapa PAY

 

1. The Parties. This Service Contract (“Contract”) made [DATE], is by and between:

 

Service Provider: Tech Labs BDC Ltd (services by the Bitpapa.com) - “Service Provider”, and

 

Client: [NAME/ADDRESS] - “Client”.

 

Service Provider and Client are each referred to herein as a “Party” and, collectively, as the “Parties.”

 

NOW, THEREFORE, FOR AND IN CONSIDERATION

of the mutual promises and agreements contained herein, according to the Terms and Conditions along with Privacy Policy, AML/KYC Policy, Terms & Conditions for payment participation P2P service Bitpapa PAY, Client hires the Service Provider to work under the terms and conditions hereby agreed upon by the Parties:

 

2. Term. The term of this Contract shall commence on [DATE] and terminate: (check one)

 

☐ – At-Will: Written notice of at least 15 days’ notice.

 

☐ – End Date: On [DATE].

 

☐ – Other: ___________.

 

3. The Service. 

The Service Provider agrees to provide the following: 

Payment participation P2P service – is a transfer service that allows Customers to make payments on Сlient’s service by using peer-to-peer marketplace to engage in transactions with digital assets.

 

Hereinafter known as the “Service.”

 

4. Payment Amount. The Client agrees to pay the Service Provider the following compensation for the Service performed under this Contract:

 

1% of the Client’s turnover passing through payment participation P2P service Bitpapa PAY on the Client’s e-platform.

 

Hereinafter known as the “Payment Amount”.

 

4.1. The Client shall pay the Payment Amount: Monthly, when Invoiced.

 

Hereinafter known as the “Payment Method.” The Payment Amount and Payment Method collectively shall be referred to as “Compensation.”

 

5. Retainer. This Contract requires: (check one)

 

☐ – A Retainer. Client agrees to pay a retainer in the amount of 0,5% of Client’s turnover of the last to the Service Provider as an advance on future Services to be provided. (check one)

 

☐ – Retainer is refundable.

 

☐ – Retainer is non-refundable.

 

☐ – No Retainer. The Client is not required to pay a retainer before the Service Provider is able to commence work.

 

 6. Service Provider acknowledges and agrees that all financial and accounting records, lists of property owned by Client, including amounts paid, therefore, client and customer lists, and any other data and information related to the Client’s business is confidential (“Confidential Information”). Therefore, except for disclosures required to be made to advance the business of the Client and information which is a matter of public record, Service Provider shall not, during the term of this Contract or after its termination, disclose any Confidential Information for the benefit of the Service Provider or any other person, except with the prior written consent of the Client, according to Terms and Conditions along with Privacy Policy, AML/KYC Policy services by the Bitpapa.com.

 

7. No Release. Service Provider agrees that the termination of this Contract shall not release him/her/they from the obligations in this Section.

 

8. Independent Contractor Status. Service Provider acknowledges that he/she/they are an independent contractor and not an agent, partner, joint venture, nor an employee of the Client. Service Provider shall have no authority to bind or otherwise obligate the Client in any manner, nor shall the Service Provider represent to anyone that it has a right to do so. 

 

9. Successors and Assigns. The provisions of this Contract shall be binding upon and inured to the benefit of heirs, personal representatives, successors, and assigns of the Parties. Any provision hereof which imposes upon the Service Provider or Client an obligation after termination or expiration of this Contract shall survive termination or expiration hereof and be binding upon the Service Provider or Client.

 

10. Default. In the event of default under this Contract, the defaulted Party shall reimburse the non-defaulting Party or Parties for all costs and expenses reasonably incurred by the non-defaulting Party or Parties in connection with the default, including, without limitation, attorney’s fees. Additionally, in the event a suit or action is filed to enforce this Contract or with respect to this Contract, the prevailing Party or Parties shall be reimbursed by the other Party for all costs and expenses incurred in connection with the suit or action, including, without limitation, reasonable attorney’s fees at the trial level and on appeal, according to Terms and Conditions along with Privacy Policy, AML/KYC Policy services by the Bitpapa.com.

 

11. No Waiver. No waiver of any provision of this Contract shall be deemed or shall constitute a continuing waiver, and no waiver shall be binding unless executed in writing by the Party making the waiver.

 

12. Governing Law. This Contract shall be governed by and shall be construed in accordance with Governing law (Applicable Law) of the Agreement - is the laws of the Republic of Seychelles “Seychelles”. In accordance with the current legislative regulation, in Seychelles, the activity on the civil circulation of cryptocurrency is not prohibited by law. For companies that do not operate in the Seychelles, special cryptocurrency licenses are not required.

 

13. Severability. If any term, covenant, condition, or provision of this Contract is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remainder of the provisions shall remain in full force and effect and shall in no way be affected, impaired, or invalidated.

 

14. Additional Terms & Conditions. 

 

Entire Contract. This Contract is an integral part of the Terms and Conditions along with Privacy Policy, AML/KYC Policy, Terms & Conditions for payment participation P2P service Bitpapa PAY.

The signing of this contract is associated with the inevitable acceptance of all this terms by the Client.

 

15. IN WITNESS WHEREOF, the Parties hereto agree to the above terms and have caused this Contract to be executed in their names by their duly authorized officers.

 

Client’s Signature _______________________ Date [_____]

Print Name _______________________

Service Provider’s Signature _______________________ Date [________]

Print Name _______________________