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Terms of Use

Any person or entity ( “You” or “Your”, “User” or “Users”) visiting, using or otherwise accessing the website at www.paymentcy.com (“Website”) or any of the information contained in the Website agrees to and is bound by the following Terms of Use (“Terms“).

Our Terms of Use together with the Privacy Policy (“Privacy Policy”) constitutes your agreement with us (“Agreement”).

  1. Introduction

This Website, together with all its products, systems, data, and other materials contained in this Website (“Content”) is owned or controlled by Gasmerlo Limited with its principal place of business at 15 Nafpliou Street, 3025 Limassol, Cyprus, with registration number HE367820 (“Paymentcy,” us”, “we”, “our”). sites or services.

  1. License

Paymentcy is the creator and owner of the system for payments solutions (“System”). These Terms govern your use and distribution of the System and its associated System code, documentation and services provided by Paymentcy. 

Paymentcy hereby grants you a non-transferable, non-exclusive, limited, non-sublicensable, license to use the System along with the related and supporting documentation, with the sole purpose of integrating the System into your proprietary website, applications or systems (collectively “Applications”), and to distribute such System as integrated into the Application or for the purposes of providing payment services to your end-users through the System. You further acknowledge to specify which payment processor(s) and/or payment solution(s) (“Processor”) you elect to work with, by configuring the System accordingly.

Paymentcy shall integrate the System to such Processor on behalf of the User and provide such Processor with all information and data provided by the User for provision of the services and the System.

The User undertakes to ensure that any Processor elected by the User complies with applicable laws and regulations and the User shall be liable to Paymentcy for any breach by the Processor. The System shall be provided by Paymentcy as a Service over the Internet, and the User shall not be entitled to any other System code (including Source Code, Script, or Executable Code) or software of the System. The System shall further not be distributed by the User on a stand-alone basis and Paymentcy may choose to modify the System or cease provision of the System at any time, in its sole discretion. 

discretion.

  1. Account

The user will access to the System’s account via credentials provided by Paymentcy. The System should not be used in ways and for means prohibited by Paymentcy. Your use of the System goes on to represent and warrant that the:
  1. User is at least 18 years of age or has the permission of the parent/guardian to enter into these Terms if the age is below 18 years;
  2. utilization of the System by the User does not abuse any appropriate law or guideline, or any commitment the User may have to a third-party; and
  3. promptly notify Paymentcy in the event of a Security breach of the account of the User.

  1. Your Information

If you provide any information on the Website, you agree to provide only true, accurate and complete information. Any personal information provided by Users will be treated with appropriate care and security in accordance with our Privacy Policy available here: https://paymentcy.com/privacy-policy.

  1. Payment Schemes

User must ensure complete compliance with all rules and regulations of all applicable cards and other payment schemes, including but not limited to Visa and Mastercard and any other additional applicable laws and regulations in respect of the use of the System by the User. User maintains responsibility to obtain correct information from its customers and end-users. The User also remains responsible for all credits, disputes, returns, chargebacks and all costs associated with the foregoing. Paymentcy further warrants and maintains that it is not a Payment Service Provider (PSP) or Payment Acquirer and therefore shall have no liability or responsibility for the foregoing or in the respect of the actions or omissions of any third-party payment scheme, including the failure of any third-party payment scheme to complete the transaction.

  1. Fees

The Fees for the utilization of the System are as stated on the website www.paymentcy.com or as communicated in writing by Paymentcy (hereinafter “Fees”). Paymentcy may update the Fees upon written notice of 30 days. User is to make the payment of the Fees in full within 14 days of the conclusion of the scheduled month in which the applicable transactions were executed, and the amounts so due to Paymentcy remain exclusive of VAT and other applicable taxes. The payment of the Fees paid by the User shall remain free and clear, and without deduction or withholding, except those as legally required by law. If the law requires the User to make any deductions or withhold taxes, then such additional amounts shall be paid by the User to Paymentcy, such that Paymentcy shall receive amounts due without any deduction or withholding. An interest of 15% per month or the maximum amount as that can be permitted by law shall be levied on any outstanding payment of Fees, while the Fees paid remains to be non-refundable.

  1. Website Use

This Website is intended only for the purposes specified on the Website. Use of this Website and/or the Content is entirely at your own risk. Please note that, whilst we endeavor to provide and host accurate and useful information, the Content may be inaccurate and is subject to change, often at very short notice.

All Content is provided without any representations or warranties of any kind, either express or implied, to the extent permitted by applicable law and is not intended as specific commercial or legal advice. Paymentcy does not represent or warrant that the Website or the Content will be accurate, up-to-date, complete, or free of defects, including without limitation to harmful elements. Paymentcy recommends that you activate a virus scan on downloaded files and that you always keep a backup copy of your hard drive contents.

  1. Representations and Warranties

The User represents to Paymentcy that:
  1. the Applications and any Customized materials
  1. do not infringe third party rights of intellectual property, privacy, publicity or moral rights;
  2. do not contain any defamatory, racist, libellous, offensive, pornographic or otherwise obscene content;
  3. do not violate any applicable law, rule or regulation, including applicable data and privacy regulations; or
  4. do not contain any adware, virus, worm, spyware or otherwise malicious software or functionality;
  1. the utilization of the System in the Application will not breach any other agreements or contracts the User may have with any third-party;
  2. the Application conforms to all pertinent laws and guidelines and the Application shall display a Privacy Policy in compliance with applicable laws which must include description of how Paymentcy and the Processor will collect and store the Data of the Consumers;
  3. you will not furnish Paymentcy with access to personal data not essential for provision of the System and Services provided thereunder, as dictated by the Processor and advised to you and Paymentcy by such Processor, and
  4. User will take commercially reasonable endeavours to ensure that only genuine transactions are submitted via the System. The User would be entirely responsible for all communications with their end-Users and Customers and shall resolve disputes directly with such Customers in the event one arises.

  1. Fraudulent, Deceptive or Unfair Business Practices

The System shall be used by the User for lawful purposes and activities. Paymentcy may designate restricted activities in writing from time to time, for which purposes the System shall not be used for by the User. The User agrees that Paymentcy may from time to time make relevant inquiries to verify the identity and ensure the ongoing creditworthiness and character of the business of the User, by verifying all provided information against third-party databases.

The User shall cooperate with Paymentcy and shall provide information as reasonably requested by Paymentcy. Paymentcy reserves the right to monitor the transactions of the User and processing activity for high-risk practices and compliance with these terms to mitigate risks.

  1. Customization

Paymentcy may agree and provide the User with a System that is custom and tailor-made for the User, pursuant to a separate, written Statement of Work, to be executed by both the User and Paymentcy for a consideration mutually decided by both parties.

In the context of executing such customization, the User shall provide Paymentcy with materials including trademarks, logos, brands, etc. for incorporation into the System (hereinafter “Customization Materials”). The Users represents and warrants that they have the right, title, and ownership of the Customization Materials, and the User hereby grants Paymentcy a non-exclusive license to incorporate such Customization Materials into the System to execute the provision of such Customized System to the User and their end-Users.

The Work Product of any Customized System performed by or on behalf of Paymentcy, except for the Customization Materials, shall be deemed to be a part of the System owned by Paymentcy and licensed to the User according to these Terms.

The User shall assign Paymentcy all the rights, title and interest in the work product of such customization if the foregoing is not sufficient to grant Paymentcy all the rights, title and interest in the customized work product.

  1. Intellectual Property

Paymentcy and its Licensors have all the rights, interests and title in the System, the System Code and any supporting documentation in respect thereof, all intellectual property rights, enhancements and improvements thereto.

User is not obligated to provide any feedback to Paymentcy with respect to the System, however, if the User decides to provide such feedback, Paymentcy can use such feedback without having any obligations whatsoever towards the User, irrespective of any provision contained in this Agreement or in the course of business between the User and Paymentcy. The User shall have all the rights, title and ownership in the Customization Materials.

  1. Unauthorized Interference

User agrees not to make any untoward attempts to damage, deny service, hack, crack, reverse-engineer, or otherwise interfere with the System in any manner. User agrees to pay any damages incurred to Paymentcy, if the User interferes with the System in any manner whatsoever.

Paymentcy reserves the right to deny any or all access or service to any User for any reason, at any time, at our sole discretion. User agrees that we may block User’s Internet Protocol (“IP”) address or addresses at any time, and at our sole discretion disallow User’s continued use of the System without giving any form of advance notice. Paymentcy reserve the right to take any action as we may deem appropriate in our sole discretion with respect to violations or enforcement of the terms of this agreement, and we expressly reserve all rights and remedies available to us at law or in equity.

User agrees not to change, duplicate, sell, rent, lease, create deriving works from, distribute by printed copy or electronic methods, sublicense, disseminate, retransmit, circulate to any third-party or on third-party website, make the System accessible to any third-party, or in any case utilize the System besides as explicitly allowed by these Terms. The User further agrees not to compete with the Services provided by Paymentcy through the System and the User will also not remove any proprietary information including the Copyright notice from the System or any applicable documentation.

The extent to which any of the restrictions set forth in this Section are not enforceable under applicable law, User shall inform Paymentcy in writing, for each instance prior to engaging in activities set forth herein. User further undertakes that their end user license agreement shall contain mandatory contractual provisions that will have substantially similar effect to those set forth in this Section.

  1. Confidentiality

The Parties acknowledge that any oral or written information exchanged between the Parties in connection with the performance of services in accordance with these Terms regarded as confidential information. Each Party shall maintain confidentiality of all such confidential information, and without obtaining the written consent of the other Party, it shall not disclose any relevant confidential information to any third parties, except for the information that:

  1. is or will be in the public domain.
  2. is under the obligation to be disclosed pursuant to the applicable laws or regulations, rules of any stock exchange, or orders of the court or other government authorities.
  3. is required to be disclosed by any Party to its shareholders, investors, legal counsels or financial advisors regarding the transaction contemplated hereunder, provided that such shareholders, investors, legal counsels or financial advisors shall be bound by the confidentiality obligations similar to those set forth in this Section.

Disclosure of any confidential information by the staff members or agencies hired by any Party shall be deemed disclosure of such confidential information by such Party, which Party shall be held liable for breach of these Terms. This Section shall survive the termination of this Agreement for any reason.

In any judicial proceeding, it will be presumed that the Confidential information in question constitutes protectable trade secrets of the disclosing party, and the receiving party shall bear the burden of proving that the Confidential information was publicly or rightfully known or disclosed.

  1. Indemnification

User hereby agrees to indemnify Paymentcy, and all of its agents, employees, and representatives against any and all damage, liability, and loss, as well as legal fees and costs incurred, as a result of the Products and services rendered under these Terms, or any transaction or matter connected with the System or the relationship between User and Paymentcy. This clause shall not be read to provide indemnification for any Party in the event that a competent court of law, rendering a final judgment, holds that the bad faith, gross negligence, or willful misconduct of the Party caused the damage, liability, or loss.

  1. Disclaimer

The System of Paymentcy is provided without any representations or warranties of any kind, either implied or express, to the extent permitted by applicable laws. Paymentcy cannot be held responsible for damage to any equipment, hardware or software arising from the use of the System, the System code or any supporting documents of the System. 

Whilst we make all possible efforts to ensure all our files are virus free, Paymentcy recommends that Users activate a virus scan on files downloaded onto their computers. Paymentcy also recommends that you keep a backup copy of your hard drive contents at all times.

  1. Liability

User agrees that the liability of Paymentcy to User under These Terms shall be limited to the amount User has actually paid to Paymentcy for its System. Except as set out herein, we do not accept any liability for any indirect or consequential loss of any kind in contract, tort or otherwise arising out of your use of the System or in relation to the services we provide.

All claims against Paymentcy must be brought within 3 (three) months after the cause of action arises and the User waives any statute of limitations which might apply by operation of law or otherwise.

  1. Term and Termination

These Terms shall come into effect as on the date of acceptance of these Terms by the User and shall continue to remain in-effect for a period of one year (“Initial Term”). After the expiry of the Initial Period, these Terms shall renew automatically, until and unless terminated after a forty-five (30) day prior written notice by either Party.

Paymentcy may terminate this agreement unilaterally at any time with a written notice in the event of a material breach by the User. Paymentcy may upon written notice may suspend the access to the System by a User if:

  1. Paymentcy detects unusual or suspicious activity in the account of the User, such as material changes to the average transaction amount or processing pattern, or
  2. Paymentcy determines, or has the reason to believe, that the User is engaging in fraudulent, illegal, deceptive or unfair business practices.

The User shall cease all use of the System after the termination of these Terms and any accrued or unpaid payment obligations shall survive the termination or expiration of these Terms for any reason.

  1. Publicity

Paymentcy may use User’s name, logo or mark, and identify User as a client of Paymentcy, on Paymentcy website and/or its marketing materials. Paymentcy may issue a press release, containing User’s name under these Terms. The User may use Paymentcy name, logo or mark by receiving written approval in advance. Such approval shall not be unreasonably withheld or delayed by Paymentcy.

  1. Featured Links

The Website may display or refer to links to other websites from time to time. In such cases, Paymentcy:

  1. does not endorse nor takes responsibility for the content of such websites;
  2. is not responsible for the availability of such websites;
  3. will not be liable in any way for any loss or damage which you may suffer by using such websites.

If you decide to access linked websites, you do so at your own risk. Any other website may link to our Website, provided it links only to the homepage, does not imply any endorsement of its products or services by Paymentcy, does not misrepresent its relationship with or present false information about Paymentcy, does not infringe any intellectual property or other right of any person and complies with all relevant laws and regulations. Please note, however, that Paymentcy reserves the right to withdraw such permission at any time and to take any other appropriate action.

  1. Complaints

If you believe that you are the owner of the copyright or other rights in any material(s) appearing on Paymentcy, and/or that ownership of the copyright or other rights in any material has been incorrectly used or represented on www.paymentcy.com, please contact us via email at: support@paymentcy.com.

  1. Severability

If any provision within the Terms is held to be unenforceable, then these Terms will be deemed amended to the extent necessary to render the otherwise unenforceable provision, and the rest of the Terms, valid and enforceable. If a court declines to amend these Terms as provided herein, the invalidity or unenforceability of any provision of these Terms shall not affect the validity or enforceability of the remaining terms and provisions, which shall be enforced as if the offending term or provision had not been included in these Terms.

  1. Relationship of Parties

You acknowledge that your use of the System does not constitute a partnership, joint venture, agency relationship or otherwise between you and Paymentcy.

  1. Changes to this Agreement

These Terms of Use may be changed without prior notice, and any such amendment will be applicable to all Users from the date and time such revised terms have been posted on the Website. User’s continued use of the Website or services constitutes agreement with and acceptance of any such amendment or other changes.

  1. Governing Law

This Agreement shall be governed in all respects by the laws of the Republic of Cyprus, and the competent courts in the Republic of Cyprus shall have exclusive jurisdiction to hear any disputes arising hereunder, provided that either party may seek an injunction or other equitable relief in any jurisdiction to prevent a breach or stop a continuing breach of these Terms.

  1. Entire Agreement

The failure on our part to exercise or enforce any rights or provisions of these Terms shall not constitute a waiver of such rights or provisions.

These Terms of Use and any policies or operating rules posted by us on this Website or in respect to the Service constitutes the entire Agreement and understanding between you and Paymentcy and further governs your use of the System, superseding any prior or contemporaneous agreements, communications and proposals, whether oral or written, between you and Paymentcy, including but not limited to, any prior versions of these Terms.

Any ambiguities in the interpretation of these Terms shall not be construed against Paymentcy.

  1. Contact Us

If you have any questions or queries about these Terms, you can contact us at support@paymentcy.com.

Quick contact
  • 15 Nafpliou Street, 3025 Limassol, Cyprus
  • info@paymentcy.com
The company

With over 10 years of experience in payments for higher risk industries, we know your business better than anyone else.