These Terms of Use apply to your use of the Payso Service, including your Account and any functionality related to the Account. You must read them carefully. A copy is available online at www.payso.ca/termsandconditions.html. You may also request a copy from support@payso.ca at any time.

Payso is a mobile application enabling users to send and share money with friends. It is designed to replace cash for every day consumer-to-consumer (C2C) payments, such as paying someone back for dinner, splitting the cost of concert tickets, collecting money from your sports team etc.

The app includes simple instructions on how to sign up and get started and further information on how Payso works can be found in the How It Works section of our website or our FAQ.

You understand and confirm that by completing the Payso App sign up process and registering as a Payso user you accept the Terms of Use and agree to abide by these Terms of Use concerning your use of the Payso Service provided by us, and you also agree to the Payso Privacy and Complaints policies which form part of these Terms of Use. In addition you agree to the General Terms and Conditions of Use of Electronic Money of MangoPay, detailed in Appendix 1. MangoPay is a regulated financial institution and holds and handles money on behalf of Payso and it’s users. If there is any part of the Terms of Use you do not understand or wish to clarify, please contact support@payso.ca.

Contents

1. Definitions

2. Important information

3. Contacting us

4. General Information

5. Eligibility

6. Payso User

7. Using your Account

8. Chargebacks

9. Other User Obligations

10. Security, Unauthorised and Incorrectly Executed Transactions

11. Refunds

12. Privacy

13. Your liability – Actions we may take

14. Warranties, Liabilities and Disclaimers

15. Complaints Procedure

16. Your Details

17. Data Protection

18. Changes to these Terms of Use

19. Assignment

20. Governing Law and Language

21. Other General Information

22. Payso Account Types

APPENDIX





1. Definitions

In these Terms of Use:

“Account” or “Payso Account” means your Payso stored value Account which you can use as part of the Payso Service.

“App” means the Payso smartphone mobile application which you must have installed on your smartphone to enable you to use the Payso Service.

“Authorise” or “Authorisation” means you authorise Payso collect or initiate a payment from your Account.

"Fees " means those amounts stated in the Appendix to these Terms of Use.

"Limits" means the Limits and usage restrictions which apply in relation to the Payso Service, including any Limits which may be applicable to Your Account, as set out in the Appendix to these Terms of Use.

“Payso” means Payso Inc, incorporated under the Law of Canada having its registered office at 2027 West 36th Ave, Vancouver, British Columbia, Canada V6M 1L1 and with the company registered number 9110429; and Payso Limited, incorporated under the law of England and Wales with a share capital of £10.00 having its registered office at 145-157 St John Street, London, EC1V 4PW and with the company registration number 09164350.

"Payso Service" means the mobile App and website operated by Payso under these Terms of Use, including the provision of the Account.

“Transaction” is the transfer of funds between two Payso Users which can be initiated by either party.

"Terms of Use" means these Terms of Use (including any Appendices) which govern your use of the Payso Service, including your use of the Account.

“Redeem” or “Redemption” means withdrawing any or all of the Electronic Money from your Payso Account using one of the available redemption methods.

“Payment Method” means the Electronic Money held in a User’s Account, or the default Visa or MasterCard held in their name and linked to their Account.

"User" "you" "your" means the individual holding the Account in accordance with these Terms of Use to use the Account.

“Receiving User” means the User who has received a payment, request or message

“Non User” means anyone who does is not a User

“We”, “us” or “our” means Payso Inc, Payso Ltd or Leetchi Corp SA, through MANGOPAY.

“Website” means our online site at www.payso.ca

2. Important information

The Account enables you to hold stored value (known as "Electronic Money" or "e-money") which can be accessed, managed and used through the App. The Electronic Money and your Account is issued to you by Leetchi Corp. S.A., société anonyme incorporated under Luxembourg law, with a share capital of 500.000 Euros, having its registered office at 14, rue d’Aldringen, L-1118 Luxembourg and registered in the Luxembourg Trade and Companies Register under number B173459, hereinafter referred to as “Leetchi” or the “Issuer”.

Payso operates the Payso Service but does not itself issue any e-money or operate any Account.

3. Contacting us

If you have any questions about these Terms of Use, the Payso Service, your Account or any of your dealings with Payso, you can read the Payso Frequently Asked Questions (FAQ) which are available via the App and the Website, or contact us via e-mail at support@payso.ca. When contacting us by email please include the following:

● Your full name (name and surname)

● The full telephone number linked to your Account

● A brief message concerning your question, enquiry or complaint.

If you want a copy of these Terms of Use or of any of the other legal documents that relate to the Payso Service you should send an email with your request and the words "Policy documents" in the subject line to support@payso.ca. We will deal with your enquiry promptly.

4. General Information

It is a condition of using the Payso Service and maintaining an Account that you agree to these Terms of Use, which form a legally binding contract once you have opened an Account.

4.1. Acknowledgment

You acknowledge that:

● Payso and Leetchi Corp do not pay you interest on any balances in your Account.

5. Eligibility

In order to use the Payso Service, you must:

● Be at least 18 years old.

● Be a resident of Canada.

● Open an Account in accordance with the instructions set out on the registration page of our App.

● Not be in breach of any Terms of Use or otherwise have had access limited to your Account, or have had your Account closed by us.

By opening an Account you represent and warrant to us that your opening of the Account does not violate any laws or regulations applicable to you. You will be responsible for any losses we incur if you open an Account and are not permitted to do so in your country of residence.

Unless expressly agreed by us, you may not open more than one principal Account and we may close any or all of the Accounts of a User who has, or who we reasonably suspect has, multiple principal Accounts.

6. Payso User

To become a User, you must open an Account by providing all of the information requested on the registration page of our App.

A User must maintain an active phone number to become and remain a User. You will not provide any false, inaccurate, incomplete or misleading information. You will not provide details relating to any name, bank account or payment card that you are not legally Authorised to use. You will not attempt to transfer funds either to or from a bank account, credit or debit card that is not in your (the User's) name. We take any violation of this requirement very seriously and will treat any attempt to transfer funds to or from a bank account or payment card not in your name as a fraudulent act.

You will promptly update your Account details on the App if your name, address, email address, phone number, payment card or bank account information changes. You may not be able to use the Payso Service or any part of its functionality until you have passed our identity and security validation and verification checks, and provided information requested in accordance with anti-money laundering regulations. We may check all personal and identity verification information you give us with credit reference or fraud prevention agencies and other organisations. These agencies may keep a record of your information and the searches made. However, we do not perform a credit check and any search is for identity purposes only and will be recorded as such.

When you open an Account, you will register a your name, phone number, email address and password. In order to make payments, change your personal details, change your bank account details or make a cash out to your bank account you must enter your password.

All Consumer-to-Consumer Transactions where the correct login and password have been entered correctly will be regarded as valid, and we reserve the right to assume that a person who identifies himself by entering the correct password is the rightful Account holder.

If you have any indication or suspicion that your password or other security details are lost, stolen, misappropriated, used without Authorisation or otherwise compromised, you should change your password and contact us immediately. Any delay in notifying us may result in you being liable for any losses.

7. Using your Account

7.1. Opening your Account

By opening an Account, you will be able to, subject to the payment of any applicable Fees and compliance with these Terms of Use:

- make payments to other Users from either a) the positive Electronic Money balance linked to your Account or b) the default Visa or MasterCard linked to your Account. Payments will be made in the form of Electronic Money, purchased by you and sent to the Receiving User;

- receive funds into your Account sent from the Accounts of other Payso Users;

- send requests to other Users asking them to pay you a specified amount;

- send messages (text) to other Users;

- redeem Electronic Money from your Account.

You must also provide the information requested, including passing all identity and security validation and verification checks. Your Account will be subject to limits associated with Consumer-to-Consumer payments, requests and redemption of funds depending on verification of your identity.

Payso retains the right to cancel any payment, request, redemption of funds or message at its discretion if the User violates the terms of use. If this happens Payso will notify both the User and, if applicable, the Receiver User, via email.

7.2. Making a Payment

Users can make payments from any valid Payment Method to other Users (the Receiving User). We will transfer the funds to the Receiving Users Account as soon as we receive your payment in cleared funds. Payso shall not be responsible for any Payment until the funds are received by us.

7.3. Permission

You permit us to obtain or receive funds on your behalf from your chosen Payment Method, plus applicable Fees, and then issue Electronic Money to your Account or, in the case of payments, to send Electronic Money to the Receiving Users account on your behalf. You should check all the Fees which apply to your use of the Payso Service. These are set out in the Appendix to these Terms of Use. When using the Payso Service, you may also be subject to applicable charges of your financial institution or bank when sending or receiving funds. We cannot tell you the charges that may be levied by these parties, such information can be obtained directly from your financial institution or service provider. By agreeing to these Terms of Use, you confirm that you have understood this.

7.4. Transactions

The Payso Service enables you to undertake the transaction types set out in section 7.1 from and to your Account. We impose Limits on these transactions as set out in the Fees and Limits Appendix and available at www.payso.ca

You can access information on any transaction you have made by accessing the main feed in the App and your ‘Chat’ history with individual users (also in the App).

We receive Payment, Request, Message and Redemption transactions when you ask us to complete these transactions in the App and we receive notification of this request through the App.

You may not make a payment without having sufficient available funds available in one of your linked Payment Methods at the time the request is made. If you attempt to do so the payment will be declined. We will notify you if this happens within the App.

In the unlikely event, for any reason whatsoever, a Payment is completed when there are insufficient funds available via a valid Payment Method (a "Shortfall"), the Shortfall shall be reimbursed by you.

You agree that once we make this Shortfall known to you, we may charge you for the Shortfall amount. We may charge the amount of the Shortfall to any payment method which you may designate at that time, or against any funds which you have or may subsequently load onto your Account. Until we are reimbursed the Shortfall amount, we may suspend your Account. If we believe the Shortfall has been created intentionally this will be treated as potential Fraud.

7.5. Consumer-to-Consumer transaction

You may make Transactions by using the commands within the App. A Request or Message will be regarded as Authorised as soon as it is sent. This Authorisation cannot be withdrawn (or revoked) by you once we have received it, which is immediately upon you agreeing confirming the transaction. Requests and Messages will be sent to other Users as soon as we receive them. Payments will be sent to other Users as soon as we receive the funds from your Payment Method. Users will receive a notification within the App that they have received a Payment, Request or Message. We will attempt to notify Non Users by text or email that they have received a Payment, Request or Message using the phone number or email address provided by the User, however we assume no responsibility for these notifications being received.

When making Transactions it is up to the User to ensure that the Receiver's contact details and information is correct. Payso uses the telephone number as the reference and unique identifier to determine the intended recipient of the Transaction. Payso shall not be liable for any error you make when entering the recipient's details.

If a person received a notification from Payso indicating that someone has sent them funds via Consumer-to-Consumer Transaction to a telephone number that is not registered (a Non User), the beneficiary will not be credited with the payment amount until it has been claimed in accordance with the instructions laid out in the notification. Until then, there will be no contractual or fiduciary relationship between Payso and the intended recipient. The funds remain those of the sender and will be returned to the sender’s Account if not claimed within a reasonable period (less than 30 days from the date of the Transaction).

7.7. Redemptions

Redemptions

When making a Redemption to a designated bank account, it is up to the User to ensure that the details they provide are correct. Payso is not responsible for validating this information and shall not be liable for any error you make when entering these details. Redemptions to bank accounts

You may redeem all or a portion of the balance of Electronic Money in your Account (excluding amounts that have not been cleared by your financial institution) at par value, in the currency in which they are denominated, by selecting one of the Redemption methods available to you set out in the cash out function of the App. You will only be able to redeem funds once they have cleared.

If your Redemption request exceeds the current limit as outlined in Fees and Limits in the Appendix, we will decline your request. In any circumstance to comply with regulations or for the safety of your account we may require you to send us documents verifying your identity prior to allowing a Redemption of funds. We will process the Redemption request immediately provided all identity and security validation and verification checks are successfully completed, which we will conduct as soon as reasonably practicable. A Redemption request will be regarded as Authorised by you where you follow the instructions in the App and have both properly confirmed Redemption and satisfactorily fulfilled any identity verification requirements.

You must ensure that the payment details you enter when redeeming your funds are correct and complete. We will not be liable for Redemptions being sent to the wrong payment account where this is due to you providing incorrect payment information. You must ensure that you have selected the correct financial institution from the list available in the App and provided the correct account number and transit number. If for some reason your Redemption has gone to the wrong payment account, you may request that we try to assist you in reclaiming the funds.

We will take reasonable steps to ensure that redeemed funds are received by you within five business days of the Redemption request. However, we shall not be liable for delays in the Redemption of funds where those delays are caused by any third party involved in the Redemption.

7.8 Balances

You may check your balance and transaction history through the App by logging into your Account. We will update your transaction history and balance near real-time showing:

- The Amount, Time and Date of all sent and received Payments, Requests and Messages

- Who the parties related to the above transactions are/ were

We recommend you check your Account balance and Transaction history regularly.

7.9. Security Validation and Verification Checks

You acknowledge that Payments made, Payments Received, your Account balance and Redemptions may result in us being required to obtain, or obtaining for our own fraud management purposes, different types of identity and security validation and verification checks, including use of third party validation and verification systems, and you agree to submit to such identity and security validation and verification checks by making these Transactions. You also acknowledge that Payso imposes certain minimum and maximum limits relating to the value of individual Payments that can be made at any one time or over certain periods of time and that these are indicated in the FAQ section on our website.

7.10. Cancellation, Closure and Suspension

You are able to close your Account at any time by notifying us at support@payso.ca. If you have a balance in your Account you will be required to provide us with details necessary to redeem said funds in order to close your account.

When your Account is cancelled, we will immediately block your Account from any activity. You will remain liable for all obligations relating to your Account even after your Account has been closed. Closing your Account does not mean that we delete the personal data that we hold on you and we will continue to store such data, including the history of your Transactions, for a minimum period of 5 years or as required by law.

We may at any time suspend, restrict or cancel your Account functionality if:

- we are concerned about security of your Account;

- we suspect your Account is being used in an unAuthorised or fraudulent manner;

- or we need to do so to comply with the law;

- you breach these Terms of Use;

- you act in a manner that is threatening or abusive to our staff, or any or our representatives;

- you fail to pay Fees or charges that you have incurred or fail to put right any shortfall; or

- there is a 90 day consecutive period of inactivity.

If we do this, we will tell you as soon as we can before we do this if possible or otherwise immediately afterwards, giving our reasons, unless letting you know would compromise reasonable security measures or be otherwise unlawful. We will reactivate your Account or replace it with a new one without undue delay after the reasons we suspended, restricted or cancelled its use cease to exist. We may also cancel these Terms of Use or suspend your Account immediately if we believe your Account is deliberately being used by you to commit fraud or for other illegal purposes. If we do this we will tell you as soon as we are permitted to do so.

We may refuse to process a Transaction:

- If sufficient funds are available in your Account or via a valid Payment Method;

- You fail to pay applicable fees;

- If there is an outstanding Shortfall on the Account;

- If we have reasonable grounds to believe that you are acting in breach of these Terms of Use;

- If we believe that a Transaction is potentially suspicious or illegal (for example, if we believe that a Transaction Transaction is being made fraudulently); or because of errors, failures (whether mechanical or otherwise) or refusals by merchants, payment processors or payment schemes processing Transactions.

If we refuse to process a transaction because we think it is potentially suspicious or illegal, where we are permitted to do so by applicable law we will contact you by phone. If we refuse to process a transaction for any other reason, we will inform you by email without undue delay and in any event by the end of the next business day, giving our reasons and explaining how you can correct any information we hold that led to us refusing to process the transaction, unless informing you would compromise fraud prevention, security measures or be unlawful.

Please note we will need to verify your identity in order to satisfy Anti Money Laundering requirements.

7.11. Unclaimed Balances on an inactive Account

If you do not use your Account for a period of 90 days, it may be closed. After closure, we will attempt to notify you using the last contact details you provided to complete a Redemption of the balance in your Account. If that information is not correct and we are unable to complete the Redemption for you, the available balance on your Account will be available to you for a period of 6 years from the date your Account is closed after which point the Electronic Money credited to your Account will be forfeited and we reserve the right to charge account management fees set out in the Fees and Limits appendix to these Terms of Use.

All unclaimed promotional money sent to the user directly from Payso Inc will be reclaimed after 90 days if the user does not activate the account by making at least one payment activity defined as a payment, request or cash-out.

8. Chargebacks

You agree that you will not dispute any Payments made in Payso from a valid Payment Method with your bank or card issuer (a “Chargeback”) other than on occasions where there has been un-Authorised use of your Account or for a breach by us in reference to these Terms of Use which would result in you having a right to refund the Payment amount. You may not Chargeback any transaction or allow a Chargeback of any upload transaction for reasons which we are not responsible including disputes with financial institutions or insufficient balance on the payment account.

Without limiting our rights or remedies, if you do cancel or Chargeback any Payment in such circumstances, you are responsible for refunding the payment. We may, at our discretion, recover the amount of the Chargeback by reducing your Account balance, re-charging your card for the amount of the charge-back or otherwise collecting such amount from you. We reserve the right to charge you Fees and expenses we incur in connection with such Chargeback and any action undertaken to challenge the same.

We reserve the right to directly refund any payments that we suspect to be fraudulent or to refund payments from accounts that are associated with chargebacks.

9. Other User Obligations

You are prohibited from engaging in any of the following:

- using the Payso Service to obtain funds from someone’s payment card, bank account or other financial source in an unlawful or unpermitted manner (or assisting others in such activity);

- using Payso for purposes not related to Consumer-to-Consumer payments including making Payments for the purpose of collecting points on your credit or debit card

- using the Payso Service in a manner that may amount to an abuse of a bank's reversal process, payment card system or a violation of a payment card association’s rules;

- using the Payso Service for any purpose contrary to laws, contract, statutes or regulations applicable to you, including without limitation, those concerning money laundering, fraud, criminal activity, financial services, unfair competition or consumer protection;

- sending unsolicited communications or specific or mass messaging (spam);

- tampering, hacking, modifying, damaging, interfering with or otherwise corrupting the security or functionality of the Payso Service, or attempting to do any of the foregoing;

- infringing Payso's or any third party's intellectual property rights; and

- refusing to cooperate in any investigation to confirm your identity or any information you provide us.

10. Security, Unauthorised and Incorrectly Executed Transactions

10.1. Security

You should treat your Account like cash. If it is compromised, you may lose some or all of your money on your Account, in a similar way as if you lost cash in your wallet or purse. As a result, keep your Account safe and secure and do not let anyone else use it.

10.2. Identity

It is your responsibility to keep your Account identification, security information, password, security questions and answers and other information specific to your Account confidential and never disclose them to anyone. We will consider any Transaction as Authorised by you, where any part of this information has been provided. Should another person gain access to your Account by passing all identification and security validation and verification checks, we may be entitled to treat any Transaction conducted by that person as valid and Authorised by you and may not be responsible for any loss or damage you may incur as a result.

If the smartphone through which you use the Payso Service is lost or stolen, or your security details for the Payso Service are compromised in any way, you must block your Account or contact us at support@payso.ca without undue delay so we can block your Account.

If you think a Transaction that was not Authorised by you has been processed or has been incorrectly executed you must contact us without undue delay on becoming aware of it and at the very latest within 13 months of the debit date. You may be required to complete and return a declaration form to us promptly. We will refund any un-Authorised Transaction without undue delay and restore your Account to the state it would have been in if the unAuthorised transaction had not taken place immediately unless we have any reason to believe that the incident may have been caused by your breach of these Terms of Use, your gross negligence or if we have reasonable grounds to suspect that it has been caused by your fraudulent activity.

When you notify us of an incorrectly executed Transaction, we will investigate the circumstances. If you ask us to, we will make immediate efforts to trace the Transaction and will notify you of the outcome. We are liable for the correct execution of the Transactions and any charges and interest that you have to pay as a consequence of the non-execution of the transaction unless we can prove that the Transaction was received by the intended recipient or their payment service provider. If our investigation shows that the amount of the Transaction was not received by the intended recipient or their payment service provider we will refund the difference to you without undue delay and restore your Account to the state in which it would have been had the defective payment transaction not taken place. We are not liable to you if you incorrectly identify the intended recipient, but in such a case we will make reasonable efforts to recover the funds involved.

10.3. Investigations

If our investigations show that a Transaction reported by you as un-Authorised or incorrectly executed was in fact Authorised by you, or you have acted fraudulently or with gross negligence (for example, by failing to keep your Account security information secure), we may reverse any refund made and you may be liable for any and all loss we suffer from your use of the Account. We may also hold you liable for losses up to $50 in respect of any un-Authorised Transaction that was made before you notified us of the loss or theft of your smartphone on which you access the App or arising from your failure to keep your Account details secure.

We may at our sole discretion decide to discontinue or restrict our services at any time and without prior notice. We reserve the right to suspend or close your Account at any time if we reasonably believe we need to do so by law or in order to comply with recommendations issued by a relevant government authority or recognised body for the prevention of crime.

10.4. Responsibility

You are fully responsible for any goods or services bought or sold by you that are settled through your use of the Payso Service.

10.5. Instructions

You are fully responsible for the instructions you give Payso.

10.6. Accountability

You acknowledge and agree that all Transactions or Redemptions into or out of your Account are final and not reversible once Authorisation has been given. Payso cannot arrange for your Account to be refunded where you believe the Transaction or Redemption was made in error.

11. Refunds

You may be entitled to claim a refund in relation to Transactions within 8 weeks of the date on which your Account was debited where:

- we are responsible for a Transaction which was incorrectly executed and notified to us in accordance with section 10.3 above;

- you did not Authorise the Transaction and you notify us of this without delay and at the very latest within 13 months of the debit date in which case we will refund the amount immediately.

A claim for a refund in the circumstances set out above will not be accepted if you gave us your consent to execute the transaction and the amount of the Transaction was made available to you at least 4 weeks before the Transaction date.

12. Privacy

12.1. Privacy Policy

Our Privacy Policy forms part of these Terms of Use which is available at the end of this document – Payso Privacy Policy. By agreeing to these Terms of Use you are accepting our Privacy Policy.

12.2. Acknowledgement and Acceptance

You acknowledge and accept that:

- When making contact with customer service agents at Payso, your communication may be monitored and/or recorded for quality assurance, security and fraud detection purposes;

- For fraud and security purposes your records are kept by us even after your Account is closed;

- For identity validation and verification purposes, the following information may be provided to Users to or from whom you send or request funds: the name, surname and telephone number the User provided during the registration process.

- You further acknowledge that any information you receive through this service about another User will be kept confidential and will only be used in connection with this service.

13. Your Liability - Actions we May Take

At our discretion, we may limit access to your Account including without limitation, placing a hold on funds in your Account, limiting your ability to send or redeem, do Transactions or the available Redemption methods or close your Account, at any time and for any reason, including but not limited to the following:

- Breach of any of these Terms of Use;

- If we have reasonable grounds to believe that your Account has been used in connection with not Authorised or unusual payment card or bank account use, including without limitation, notice of the same by your bank or payment card issuer;

- Abuse by you of the reversal or Chargeback process provided by your bank or payment card company;

- Receipt in your Account of potentially fraudulent funds;

- Refusal to cooperate in an investigation or to provide adequate confirmation of identity or other identity or security information when requested;

- Initiation of transactions that may be considered to be cash advances or assisting in cash advances for inappropriate purposes;

- Your Account has been used or allegedly used in or to facilitate fraudulent or other illegal activity;

- We believe that your Account or activities pose a security, credit or fraud risk to us; and

- To comply with money laundering or terrorist financing investigations conducted by government authorities, agencies or commissions.

If we close your Account, we will notify you first either by phone or email according to the most recent phone number or email address with which you have provided us, and return to you any unrestricted or undisputed funds in your Account (being funds not involved or otherwise connected with the circumstance giving rise to the limitation or closure).

In the event that we suspect you are engaging in an activity referred to in 13 (i) above we reserve the right to contact third parties and disclose details of any prohibited activities, in accordance with our Privacy Policy, and/or take legal action against you.

14. Warranties, Liabilities and Disclaimers

14.1. Validation

We reserve the right to validate and verify any of the information you provide.

14.2. Warranties

Without limiting section 7, we shall make reasonable efforts to ensure that requests for debits and credits involving payment cards and bank accounts are processed in a timely manner. However, a number of factors, several of which are outside of our control, will contribute to when the processing will be completed. We make no representations or warranties regarding the amount of time needed to complete processing, such as delays in the banking system or your local mail service. We make no representations or warranties as to continuous, uninterrupted or secure access to the Payso Service, which may be affected by factors outside our control, or may be subject to periodic testing, repair, upgrade or maintenance.

14.3. Legality

We assume that prior to opening your Account, you have determined that opening and maintaining your Account does not violate any law or regulations in your country of residence and jurisdiction. You warrant that you are not violating any laws or regulations by your use of the Payso Service and you agree to indemnify Payso, its affiliates, subsidiaries, agents and subcontractors, from and against any and all liability that might arise from your use of the Payso Service in violation of any law or regulation.

14.4. Limitations

We make no express warranties to you with respect to the Payso Service except as set out in these Terms of Use, and all implied and statutory warranties, including without limitation any warranty of fitness for a particular purpose are hereby expressly disclaimed except where implied or statutory warranties cannot be disclaimed by applicable law.

14.5. Affiliates

Neither us nor any of our affiliates, subsidiaries, agents or subcontractors shall be responsible for any claim, loss or damage suffered or incurred by you or any third party unless it has been caused as a direct result of our negligence or wilful misconduct; provided that under no circumstances shall we, our affiliates, subsidiaries, agents or subcontractors be liable for any claim, loss or damage caused or alleged to be caused by any of the following:

- Errors made by you or other User in sending or receiving Transactions or Redemptions, such as making a Consumer-to-Consumer Transaction to an unintended person or sending or requesting an incorrect amount;

- Use of your Account by another person who passes all identity and security validation and verification checks;

- Any fraud or misrepresentation made by a User, even if the User passes all identity and security validation and verification checks;

- Delays, losses, errors or omissions caused by the failure, interruption, infiltration or corruption of any hardware, software or other telecommunications or data transmission system;

- Interception or seizure compelled by law; and

- Any abnormal or unforeseen circumstances outside our reasonable control, the consequences of which would have been unavoidable despite all efforts to the contrary.

14.6. Consequential Loss

In no event shall we, our affiliates, subsidiaries, agents or subcontractors be liable to you or any third party for:

- Business interruption, loss of revenue, goodwill, opportunity or anticipated savings; or

- Any loss or damage whatsoever which does not stem directly from our breach of these Terms of Use.

14.7. Duties and Taxes

We disclaim any and all liability for any goods or services bought or sold by you that are settled through your use of the Payso Service, including any charges, taxes or other duties in relation to such goods or services,

14.8. Indemnification

You agree to indemnify us, our affiliates, subsidiaries, agents and subcontractors from and against any and all claims brought by third parties against us, our affiliates, subsidiaries, agents or subcontractors relating to your use of the Payso Service in respect of all claims, losses, damages, expenses and liabilities whatsoever suffered or incurred by us, our affiliates, subsidiaries, agents or subcontractors as a result of your breach of these Terms of Use.

14.9. Rights

We retain all right, title, and interest in and to all trademarks, trade names, logos, Website designs, text, content and graphics in relation to the App and the Website, and any use, reproduction, modification, distribution by you is prohibited.

15. Complaints Procedure

15.1. Complaints Policy

Our Complaints Policy forms part of these Terms of Use and we would ask you to review the policy contained in the Appendix prior to agreeing to these Terms of Use.

15.2. Communicating Complaints

Complaints about the Payso Service should be communicated to us in the first instance by contacting Customer Services via support@payso.ca. Please state that you wish to make a complaint so that we are able to distinguish this from a query. We will confirm receipt of your complaint promptly.

15.3. Information

In order to make sure that your complaint can be investigated and resolved as quickly as possible, please make sure you give us the following information:

- Your name, address and telephone number,

- A clear description of your concern or complaint,

- Tell us what you would like us to do to put it right,

- Copies of any relevant documents (for example communications sent by or to you),

- An email address and a daytime telephone number where we can contact you.

Payso will work with you to try to resolve your complaint immediately. We need to understand exactly what the problem is - the more information you can give us the better.

15.4. Procedures

If you would like a copy of Payso’s internal complaint handling procedures then please request a copy from support@payso.ca.

16. Your Details

You must let us know as soon as possible if you change name, address, phone number or e-mail address. If we contact you in relation to your Account, for example, to notify you that we have cancelled your Account, we will use the most recent contact details you have provided to us. Any e-mail to you will be treated as being received as soon as it is sent by us. We will not be liable to you if your contact details have changed and you have not told us.

We may send communications and notices to you at the phone number or email address you provided to us during the registration process (or as updated subsequently by you). Any and all communications and notices by either party under these Terms of Use by e-mail shall be deemed given on the day the message is sent, unless the sending party receives an electronic indication that the message was not delivered.

17. Data Protection

We are the data controller of personal data given to us in connection with your Account.

We will process personal data in order to open, administer and run your Account and to deal with any enquiries you have about it.

If we suspect that we have been given false or inaccurate information, we may record our suspicion together with any other relevant information.

We may use third parties to process personal data on our behalf including third parties outside of Canada and the EEA and by completing your App registration you consent to your personal data being transferred outside of Canada and the EEA and disclosed to such third party processors.

Personal data may also be transferred confidentially to other organisations only so that we may run your Account.

We will monitor and/or record interactions we have with you to help us maintain and improve the quality of our service or as required by applicable law.

We may check all personal information given by you with credit reference or fraud prevention agencies and other organisations, we may perform a search of your credit file in order to verify your identity. The agencies may keep a record of your information and the searches made.

With your consent, we may use the information you provide such as your mobile phone number and email address to provide balance updates and Transaction alerts.

We will seek your consent before any third parties contact you by email or mobile phone about any offers they believe will interest you.

We may share your information with third parties so they can contact you directly by telephone or mail about their products and services.

If you would like details of the third parties with which we share information about you please contact support@payso.ca.

You have the right to receive details of the personal data we hold about you. A Fee may be charged. Please contact support@payso.ca.

18. Changes to these Terms of Use

We may find it necessary to change these Terms of Use from time to time and will notify you when this happens, at the date on which the changes are due to take effect. We will notify you by sending you an email advising that we have posted details of the changes on our App. We will display a link to the new Terms of Use on the App and Website on the date that they are due to take effect.

Any amendments made to the Terms of Use will be effective 30 days from the date of posting, and your continued use of the Payso Service shall constitute an acceptance of any amendments to these Terms of Use. You may review the current Terms of Use prior to initiating any Transaction at any time by clicking on the "Terms and Conditions" links on relevant section of the App and website.

The Terms of Use will show the most recent revision date. No revision will affect any Transaction that is outstanding on the date of such revision, however, should you wish not to be bound by any new Terms of Use, you must tell us that you do not agree to the change within the 30 day period otherwise you will be deemed to have accepted the new Terms of Use.

In that event, we will treat that notice as notification that you wish to terminate this agreement. In such circumstances we will cease all of Payso Services you have and refund any monies owed to you. Continued use of the Payso Service indicates your agreement to these Terms of Use.

19. Assignment

We may assign the benefit and burden of these Terms of Use to another company at any time. If we do this, your rights will not be affected. You may not transfer, assign, subcontract or delegate your rights, duties or obligations under these Terms of Use, unless and to the extent these Terms of Use expressly permit such transfer, assignment, subcontract or delegation.

We may transfer your unused balance to a new account provided by a Bank Identification Number Sponsor (Issuer) other than MangoPay at any time. Before we do this, we will give you 30 days notice of the new account arrangements and the new account Terms of Use. Unless you advise us within the 30 day period that you do not want a new account from the new account issuer, you agree that we can automatically transfer the unused balance on your Account to a new account provided by the new account issuer.

20. Governing Law and Language

These Terms of Use shall be governed by the laws of Canada. All disputes arising out of or relating to these Terms of Use shall be resolved by the Canadian Courts, except where Canadian legislation requires a specific dispute to be resolved by the courts of another jurisdiction.

This Agreement is concluded in English. All communications with you will be in English. These Terms of Use will be construed in accordance with Canadian law.

These Terms of Use may be made available in French on request; all versions are legally binding but in the event of any inconsistency between the English Language version and a translated version, the English Language version will prevail.

21. Other General Information

These Terms of Use are subject to amendment, modification or deletion if required by, or found to be in conflict with, applicable law or regulation, without affecting the validity or enforceability of the remaining Terms of Use. These Terms of Use constitute the entire agreement between the parties with respect to the subject matter hereof and supersede and replace any and all prior agreements.

Our failure to exercise or enforce any right under these Terms of Use shall not be deemed to be a waiver of any such right or operate to bar the exercise or enforcement thereof at any time or times thereafter.

The rights and remedies available to us in these Terms of Use are cumulative and are in addition to any other right or remedy available to us at law or in equity.

We may engage the services of one or more affiliates, subsidiaries, agents or subcontractors in order to fulfil its obligations.

22. Payso Account Types

Payso offers two different types of accounts - personal and organization/business accounts. You may have only one personal account.

Payso reserves the right to close any account at our discretion and to ask for verification that more than one account is not held by the same person. Personal accounts on Payso App are for use in person-to-person transfers. Some features of Personal accounts may be limited based on how you wish to use the Service, how much you need to send and what we know about you. We may require that you provide more information in order to complete a transaction.

Business, commercial or merchant transactions may not be conducted using personal accounts. For each business you are involved with, you may have only one business account. Business account use is limited. Business accounts must be applied for and explicitly authorized by the Payso team. By opening a business account and accepting the terms you attest that neither you nor your business is establishing a business account primarily for personal, family or household purposes.

APPENDIX

Fees and Limits

Payso does not charge fees for consumers to consumers transactions. If you are using Payso for any purpose that is not a standard consumer to consumer transaction please contact Payso at support@payso.ca, you may be subject to fees. Payso reserves the right to amend this fee structure at any stage and we will give you 30 days notice of any change.

Payso aims to replace cash for everyday payments between friends. We have set the below limits on individual transaction sizes and daily, weekly, monthly and annual transaction volume.

Pay-in limits

Maximum Transaction Limit

Single transaction

$130.00

Day

$250.00

Week

$500.00

Month

$1,000.00

Year

$1,500.00

Please contact Payso if you wish to transaction above these limits at support@payso.ca

Pay out Limits

If you withdraw more than $1,000 from your Payso Account to your Bank Account in any 12 month period we require that you provide to us a copy of your valid Drivers License (both sides) or Passport (picture page). These can be provided to us as image or PDF files.

Payso Privacy Policy

The information we collect via our App or visits to our Website generally falls into the following two categories: Personally Identifiable Information and Non-Personally Identifiable Information. Please note that your bank account or payment card information will not be held by Payso. It will be used by a specialized payment service provider who is specifically approved by regulators for the processing of such transactions and for no other purpose whatsoever.

1. Personally Identifiable Information:

This refers to information that lets us know the specifics of who you are. The Personally Identifiable Information We collect may include your name, mailing address, phone number, e-mail address, credit card number, expiration date, id numbers, login names, passwords and public postings. We request Personally Identifiable Information when you sign up with Payso and if you exceed certain limits on transaction volume or where we suspect suspicious or fraudulent behavior.

2. Non-Personally Identifiable Information:

This refers to information that does not by itself identify a specific individual. The non-personally identifiable data we collect may include the URL of any website that you came from before visiting our Website, which pages you visit on our Website, which URL you next go to, which browser you used to come to our Website, your internet protocol address, any search terms entered on our Website, your IP address and data on your usage of our App.

Our primary goals in collecting information is to provide Users with superior service including a smooth, efficient, and personalized experience while using our services. We use non-personally identifiable information on an aggregated basis to analyse customer behaviour to help us understand how visitors use our services and to measure interest in the various services. We use this information to improve the content of our services, to make our services are easier to use.

3. Why We Gather Information:

We gather and use information in a number of ways, including the following:

- Surfing - We may collect certain Non-Personally Identifiable Information when you visit our App or Website or click on banner ads for products and services. We collect this information to help run our App and Website more efficiently, to gather broad demographic information, to monitor the level of activity on our services, and to evaluate the effectiveness of our advertising.

- Promotional activities - We collect Personally Identifiable Information from you when you enter a promotional program or activity. We use this information to administer the program or activity, to send you promotional e-mails, notify winners, and make the winners' list publicly available pursuant to certain jurisdictional laws.

- Newsletters and promotional e-mails - we collect personally identifiable information when you ask to receive newsletters, promotional e-mails, and other information. We use this information to provide you the information you request.

- Contact information - if you contact us, we may keep a record of your correspondence or comments, including Personally Identifiable Information, in a file specific to you. We use this information to help us provide better service in the event you contact us again.

We do not sell, trade, or rent to others the personally identifiable information we collect.

4. Legal Requests

From time to time, we may be required to provide personally identifiable information in response to a court order or government investigation. We also reserve the right to report to law enforcement agencies any activities that we in good faith believe to be unlawful. We may release certain Personally Identifiable Information when we believe that such release is reasonably necessary to enforce or apply our Terms of Use or to protect the rights, property, and safety of others and ourselves.

5. Mergers

Payso or its related entities could merge with or be acquired by another business entity or their respective assets could be acquired. Should such a combination or acquisition occur, you should expect that Payso would share some or all of your personally identifiable information to continue serving you and other Users of our services.

6. Errors and Changes

You can access, review and/or correct all your personally identifiable information that we collect online and maintain as described above. We use this to better safeguard your information. You can correct factual errors in your personally identifiable information by sending us a request that credibly shows error. To protect your privacy and security, we will also take reasonable steps to verify your identity before granting access or making corrections.

7. Cookies

A "cookie" is a small data file transferred by a website to your computer's hard drive. We may send cookies when you surf our Website, make purchases, respond to online surveys or polls, or request information. Accepting the cookies does not give us access to your personally identifiable information, but we can use the cookies to identify your device. The aggregate information collected permits us to analyse traffic patterns on our services. This can enable us over time to provide you with a better experience on our services by improving the content and making it easier to use. For example, cookies can keep track of what you have selected to purchase as you continue to shop and allow you to enter your password only once on pages where a logon is required. A list of all cookies we are using at our Website can be found at www.payso.ca

8. Browsers

Internet Explorer automatically accepts cookies, but you can refuse cookies, or selectively accept certain cookies, by adjusting the preferences in your browser. If you turn off cookies, though, most features of our services will not be available to you. You can find information on the relevant browser and how you can adjust it to control cookies.

Parts of our service may contain links to third-party sites for your convenience and information. If you use these links, you will leave the Payso site. When you access a non-Payso site, please understand that we do not control the content and are not responsible for the privacy practices of that site. We suggest that you carefully review the privacy policies of each site you visit. This online privacy statement does not cover the information practices of those sites linked to our services. These other sites may send their own cookies to Users, collect data, or solicit personal information.

9. Changes

If there are changes or additions to the terms of this Privacy Statement, we will post those changes here so that you will always know what information we collect, how we use it, and what choices you have. Please be sure to check this page before proceeding to use our services. Regardless of any changes we make to our Privacy Statement, we will always use your personally identifiable information in accordance with the version of the statement in place at the time you provided your information, unless you give your express consent for us to do otherwise.

Payso Complaints Policy

This policy is available in English and is available on French on request. All versions are legally binding but in the event of any inconsistency between the English Language version and a translated version, the English Language version will prevail.

1. Introduction

Payso is committed to providing a high standard of service to all members on every occasion. Occasionally, however, we may not live up to your expectations.

If you have a complaint about any aspect of the service provided to you by Payso then we would like to hear from you. You can contact us by e mail via the App and the Website to support@payso.ca. We have established an internal complaints procedure to make sure that your complaint is handled efficiently. Contact details are provided at the end of this document.

We take your comments seriously. They allow us to improve our service to you and help us to improve our products and services to all our Account holders. If you think that we could have served you better then please let us know.

2. Information you need to give us

In order to make sure that your complaint can be investigated and resolved as quickly as possible, please make sure you give us the following information:

● Your name, address and Account number,

● A clear description of your concern or complaint,

● Tell us what You would like us to do to put it right,

● Copies of any relevant documents (for example emails sent by or to you),

● An email address and a daytime telephone number where we can contact you.

Payso will work with you to try to resolve your complaint immediately. We need to understand exactly what the problem is - the more information you can give us the better.

3. What we will do

Sometimes we won't be able to resolve your complaint or concern immediately. If we can't and if we have not already contacted you with our proposal for resolving it, we will:

● Acknowledge immediately by email that we have spoken to you and that your complaint has been passed on to the complaints team,

● Acknowledge your complaint by email within 5 working days,

● Let you know who will handle your complaint, and how you can contact them.

If your complaint is complicated it could take longer to resolve. If this is the case we will keep you informed of progress as we continue our investigations. We will aim to resolve your complaint within eight weeks. However, if we cannot do this, we will email you an update at that time to explain what's happening, and to let you know when we expect to resolve your complaint. At this time we will also inform you of your rights to refer your complaint to the Financial Ombudsman Service (FOS).

Payso tries to resolve all complaints as quickly as possible, and to the satisfaction of our members. If you are not satisfied with the outcome of your complaint then you should get in touch directly with the person who has handled it. They will agree with you what next steps can be taken.

4. Payso Complaints Procedures

If you would like a copy of Payso Internal Complaints Handling Procedures then please request a copy from support@payso.ca.

5. Contact us

If you have any questions then please contact the Payso Customer Support team. You can contact them via e-mail at support@payso.ca. If you contact the support team please leave a message including:

- Your name and surname,

- Your full telephone number, including country code and full telephone number,

A brief message describing your question or enquiry,

If you are making a complaint please provide full details and send to support@payso.ca.

You also agree to the General Terms and Conditions of Use of Electronic Money of MangoPay which are available here.