zondacrypto pay Statute of Payments

This version of Statute of Payments is effective as of 29th of May 2024.

§ 1 

General conditions

1. These Terms and Conditions set out the rules for the processing of payments within the Payment Gateway for the benefit of Partner Customers using the zondacrypto pay Services provided electronically by the Platform Operator.  

2. For the purposes of these zondacrypto pay Statute of Payments, the following definitions shall apply:

a) Payment Processing (or "Payment Processing Service") - consists in the acceptance and handling by the Platform Operator of payments made by the Partner's Customer to the Partner, for goods or services offered by the Partner, which payments will be made using Digital Assets via the zondacrypto pay Services provided electronically; 

b) Platform - the entirety of the digital services and functionalities offered by the Platform Operator, including both the services provided on the zondacrypto Exchange and the zondacrypto pay Services, inter alia in the form of a website and mobile application; the term Platform shall include both the Exchange and the Website (as defined in this Statute);

c) Website - for the purposes of this Statute, the website and mobile application provided by zondacrypto pay under which it is possible to use the zondacrypto pay Services; 

d) Digital Asset - a digital representation of a given value or a given right, processed and stored in a virtual database whose integrity and correctness is secured through cryptographic methods. Within Digital Assets we can distinguish, among others: cryptocurrencies, tokens, contracts;

e) FIAT Currency - currencies recognised as official means of payment, issued by central banks or public authorities (e.g. euro, dollar, zloty); 

f) Platform Operator/Operator - BB Trade Estonia OÜ with its registered office in Harju maakond, Tallinn, Lasnamäe linnaosa, Tähesaju tee 9, 13917 ESTONIA (office no. 10, 2nd floor), registered under the number 14814864.;

g) Customer (or "Partner's Customer") - a person (including both natural and legal persons) for whose benefit a Payment Processing takes place, who accepted the provisions of this Statute and effectively concluded an agreement with a Partner for the provision of its services or sale of goods (hereinafter referred to as the "Customer's Agreement with a Partner");

h) Partner (formerly also as "Merchant") - an entity, which registered on the Website, for whose benefit the funds are transferred within the scope of provision of Payment Processing Services, in connection with the agreement concluded with the Customer for the provision of services or sale of goods (hereinafter referred to as the "Customer's Agreement with a Partner");

I) Payment Gateway - a type of Software, which enables the Customer to make online payments to the Partner using Digital Assets, including within the application offered by the Payment Operator;

j)Partner Balance - electronic information assigned to the Partner's Account, which will indicate an electronic record of the values collected and credited within the Partner's Account, in connection with the processing of payments to the Customer;

k) Cryptographic Verification of Transactions / using cryptographic tools - the process of obtaining the appropriate number of confirmations of transactions from the blockchain network for a given Digital Asset; depending on the type of Digital Asset, the number of required confirmations may vary; their required current number is available on the Website of the Platform Operator in the Helpdesk tab;

l) Blockchain network - a decentralised database that records and stores information on transactions, performed with the use of Digital Assets; 

m) Blockchain network load - the number of transactions awaiting confirmation on the blockchain network; the load on the blockchain network at the time of a transaction may determine the time it takes to complete the transaction; the load on the blockchain network is independent of the Platform Operator; 

n) Blockchain network fee - the amount paid by the sender-Partner's Customer to finalise a transaction on the blockchain network; this is the fee paid to the miners or validators of the network (entities independent of the Platform Operator) who confirm and accept transactions before adding them to the blockchain database;

o) Customer's Account on the Exchange - a collection of resources maintained by the Platform Operator on behalf of the Customer under a unique name, in which data relating to the Customer's activities on the zondacrypto Exchange operated by the Operator are maintained. 

3. The Service may not be used to process payments other than the amount due under the aforementioned Agreement between the Customer and the Partner.

4. The Customer wishing to use the Payment Processing Service via the zondacrypto pay gateway is obliged to comply with the provisions of this Statute and generally applicable laws.

5. The Partner shall be solely responsible for the process of verifying the accuracy of the Customer's data indicated when using the Payment Processing Services, including compliance with the requirements of the KYC procedure applied by the Platform Operator, in accordance with the rules provided for in the Regulations of zondacrypto pay. 

 

§ 2 

Payment terms

1. The Platform Operator, while providing the Payment Processing Service, accepts the funds received from the Partner's Customer in the form of Digital Assets and finally allocates them to the Partner's Balance. Their crediting to the Partner's Balance means the payment for the goods or services purchased from the Partner within the scope of the Customer's Agreement with the Partner.

2. The Platform Operator shall provide the Payment Processing Service within the Payment Gateway in particular by:

a) indicating the Digital Assets together with their conversion value in the Payment Gateway, from among which the Customer may select one with which he/she plans to make a transaction; 

b) generating the payment details by which the Customer will order such payment to the Partner;

c) accepting the payment ordered by the Customer on the Digital Asset selected by the Customer for processing and final allocation to the Partner's Balance.

3. Within the framework of the Payment Gateway Service, the Customer shall be able to perform the following actions: 

a) selecting in the Payment Gateway the respective Digital Asset from the displayed possible ones, in which he/she wants to make a payment to the Partner; and

b) ordering a payment to the Partner on the basis of the payment data generated in the Payment Gateway, using external tools enabling the Customer to make such a payment.

4. The number and type of Digital Assets displayed in the Payment Gateway in which the Customer can make the payments referred to in paragraphs 2(a) and 3(a) above shall be determined each time by the Partner itself within the framework of the Partner's generation of the Payment Gateway for the respective transaction. The Platform Operator is not responsible for the above Payment Gateway settings selected by the Partner. 

5. Due to the specific nature of the Payment Processing Service provided and the technical conditions of the blockchain network, which are completely beyond the control of the Platform Operator, it is not possible to revoke an ordered payment once it has been approved by the Partner Customer and confirmed for processing in the Payment Gateway, with the exception of situations in which the Platform Operator allows the payment to be returned, as indicated in paragraphs 11 - 15 of this section. 

6. In the event that the Customer makes a payment instruction that may be deemed incorrect according to the criteria set out in the Terms and Conditions for the Recovery of Digital Assets zondacrypto pay, the Customer may avail itself of the recovery of digital assets on the grounds and under the circumstances set out in this above mentioned Terms and Conditions. 

7. The Platform Operator, when providing Payment Processing Services, does not support transactions carried out by the Customer under anonymous protocols, i.e. by means of tools and channels which make impossible for the Platform Operator to correctly identify and verify the parties to the transaction. In the event that the Customer orders the aforementioned payments using anonymous protocols, the possibility of a complete refusal of such payments is reserved. Furthermore, in the event that the Customer makes a payment using the aforementioned anonymous protocols, it is completely impossible to claim a refund of such payment (including in accordance with § 2 paragraphs 13 - 19 below) due to the Platform Operator's inability to identify and verify the parties involved in the transaction.

8. The amount displayed in the Payment Gateway represents the amount payable by the Customer to the Partner under the agreement concluded with the Partner (Customer-Partner Agreement). In the event that the obligation to cover the commission for the transaction rests with the Customer of the Partner, the aforementioned amount displayed in the Payment Gateway will include the value of the fees and commissions due for the transaction to the Operator of the Platform.

9. It is the responsibility of the Partner to inform the Partner's Customer of the amount of the fees and commissions agreed with the Platform Operator for a particular transaction carried out under the Customer's Agreement with the Partner.

10. The Platform Operator stipulates that the value indicated in paragraph 7 does not take into account any additional fees for the blockchain network that the Customer may be required to cover in order to properly complete the payment. 

11. It is stipulated that the Platform Operator will provide the Payment Processing Service within the Payment Gateway to the Customers using the Digital Asset networks supported by the Platform Operator, as indicated in the link below, assigned for the respective types of Assets.

12. The time taken to credit the funds to the Partner's Balance depends on the load on the blockchain network, the amount of the assigned fee for the blockchain network selected by the Customer and the number of confirmations required to credit the Transaction Cryptographic Verification for the respective Digital Asset. 

13. Reimbursement to the Customer of funds paid is only possible in the following cases:

a. overpayment,

b. underpayment, 

c. payment after expiry of the gateway. 

14. The Customer may claim from the Partner or the Platform Operator a refund of the funds paid by such Customer, in the cases referred to in paragraph 13 above, to the external address indicated by the Customer, save that the relevant Fees and Commissions due in the event of the provision of such services by the Platform Operator shall be charged on such transactions. Where the refund is made by the Platform Operator, the Platform Operator may make the refund subject to positive verification of the external address indicated by the Customer. 

15. The Customer, if it is not possible to make a refund in accordance with the principles set out in paragraph 14 above, shall additionally have the option of claiming from the Platform Operator a refund of the funds mentioned in paragraph 13 above by returning them directly to the Customer's Account on the Exchange (on condition that it is correctly established and verified by the Customer in accordance with the provisions of the Statute for the Terms and Conditions of Service of the zondacrypto Exchange). 

16. In the situation described in paragraph 15 above, the Customer is entitled to contact the Platform Operator by email (at [email protected]) to verify the possibility of the refund indicated in this paragraph. 

17. In addition, the rules applicable when the Customer requests the Platform Operator to undertake the Digital Asset Recovery Process, due to an incorrect payment made by the Customer to the Partner, are provided for in the Terms and Conditions for the Recovery of Digital Assets zondacrypto pay. 

18. The differences between the possibility for the Customer to claim a refund (pursuant to § 2 (13) above) and the Digital Asset Recovery process (pursuant to § 2 (17) above) are indicated on the Operator Platform. 

19. The fee for the return of funds is 0.5% of the value of the amount returned. In addition, an additional withdrawal fee ("Withdrawal from Partner's account / Fee to blockchain network") will be charged in accordance with the Table of Fees and Commissions of zondacrypto pay. The funds will be refunded within 14 working days of acceptance of the request, to the address of the Wallet provided by the Client.

20. Any tampering with the Operator's Platform IT systems or the use thereof by an unauthorised person or a person with respect to whom the Platform Operator has a justified suspicion of such unauthorised use is prohibited. A breach of such prohibition may lead to the blocking or complete discontinuation of the Payment Processing Service and, in addition, if there are circumstances justifying such action, to the notification of such breach to the relevant authorities. 

21. The use of the zondacrypto pay Payment Processing Service by the Partner’s Customer is not linked to the opening of a bank account and any operations carried out therein do not constitute banking operations within the meaning of the Banking Law.

22. It is prohibited to use the Operator's Platform to process payments for the sale of goods or provision of services that are in breach of the law, in particular those infringing the property rights of third parties, as well as those not permitted for trade in the territory of a given country/area, as well as to use it to process payments for access to unauthorised content.In the event that the Partner's Customer uses the Payment Processing Services for the sale of goods or provision of services indicated in the preceding sentence, the Customer shall be obliged to withhold such payment instructions and notify the Platform Operator of such circumstances. 

23. It is permissible to change the entity providing the Service to another entity affiliated with the Platform Operator in order to ensure the continued provision of the Service in a manner consistent with the Statute. The change of the entity providing the Service shall take place in a manner consistent with the provisions of the law. The terms and conditions of the provision of the Service - in connection with the change of this entity - may not be changed to be less favourable for the Customer. In the case referred to in this paragraph, the existing Service provider shall cease to be a party to the Agreement and shall cease to provide the Service.

 

§ 3 

Rights and obligations of the Platform Operator

1. Platform Operator is not responsible for the processing of payments to a wallet address incorrectly indicated by the Customer in connection with the Customer's desire to make a payment.

2. Platform Operator is not a party to the contract or legal relationship between the Partner and the Partner's Customer, in particular the sales contract or service contract, and therefore shall not be liable to the Partner's Customer for non-performance or undue performance of the obligation by the Partner, nor to the Partner for non-performance or undue performance of the obligation by the Partner's Customer.

3. Platform Operator in particular is not responsible to the Partner's Customers for the Partner's ability to conclude and perform the agreement for the sale of goods or services, and is not responsible to the Partners for the solvency of their Customers in the performance of such agreements between them.

4. Platform Operator may withhold or refuse to provide the payment service in the event that it has reasonable doubts as to the legality of the payment, including, in particular, the possibility that it may be connected to money laundering, terrorist activity or other criminal activity.

5. Platform Operator reserves the right to withhold or refuse to process a payment in the event of a breach of the Statute or when there is a justified suspicion that the transaction being made is in breach of the law or the provisions of the Statute.

6. Platform Operator, in the event of a situation described in § 2. (7) above, i.e. a payment by a Customer using anonymous protocols, reserves the right to refuse to process such a payment altogether due to the Platform Operator's inability to identify and verify the parties involved in the transaction.

7. In addition, based on the Internal Policy applied by the Platform Operator and the list of international sanctions, the Platform Operator reserves the right not to enter into business relationships (including refusal to provide payment processing services) with residents or entities who are based or who reside in the territory of countries that have been placed on the international sanctions list. At the same time, due to the very high risk of money laundering and terrorist financing, the Platform Operator reserves the right not to enter into business relations with residents or entities domiciled or residing in the territory of countries that have been declared unacceptable countries under internal procedures. This is solely due to international guidelines and legal requirements and is in no way intended to discriminate against such persons on the basis of nationality. A list of unacceptable countries and regions is available on the Platform Operator's website.

8. Platform Operator shall not be liable for any damages incurred by the Customer due to the withholding or refusal to process a transaction in cases where such withholding or refusal of the Service was justified in accordance with this Statute, in particular if the Partner's Customer grossly violates the provisions of this Statute or generally applicable laws.

 

§ 4 Data protection and privacy policy

1. Depending on the accepted settings of the Partner and the type of transaction carried out by the Partner's Customer, the Platform Operator may receive from the Partner and process the Customer's personal data in the form of an e-mail address. In connection with such transfer by the Partner to the Platform Operator of the aforementioned personal data of the Customer, the Administrator of such personal data within the meaning of Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016. on the protection of natural persons in relation to the processing of personal data and on the free movement of such data and the repeal of Directive 95/46/EC (General Data Protection Regulation) (hereinafter referred to as " GDPR"), becomes the Platform Operator - BB Trade Estonia OÜ with its registered office at Harju maakond, Tallinn, Lasnamäe linnaosa, Tähesaju tee 9, 13917 ESTONIA (office no. 10, 2nd floor), registered under the number 14814864 (hereinafter referred to in this section as "Administrator").

2. The Customers' personal data provided by the Partner to the Platform Operator shall be processed in accordance with the law, including in particular the provisions of the GDPR.

3. The Administrator shall process the Customers' personal data only for the purposes of:

a. proper provision of the zondacrypto pay Payment Processing Services - on the basis of Article 6(1)(b) of the GDPR;

b. the Administrator's legitimate interests, including the safeguarding of potential claims and the complaint procedure - on the basis of Article 6(1)(f) of the GDPR.

4. The Administrator may indicate a different purpose of processing, but in such a case it is necessary to obtain the Customer's separate consent to the processing of such data (in accordance with the provisions of Article 7 GODPR) and to comply with the information obligation towards the Customer (pursuant to Article 11 GDPR).

5. The Customer has the right to request access to his/her personal data (Art. 15 GDPR) and to receive a copy of their personal data (Art. 15(3) GDPR), the right to request rectification (Art. 16 GDPR), deletion (Art. 17 GDPR) or restriction of the processing of their personal data (Art. 18 GDPR), as well as the right to portability of their personal data (Art. 20 GDPR) and to object (Art. 21 GDPR).

6. Furthermore, with regard to the processing of personal data, the Customer has the right to lodge a complaint with the competent supervisory authority, which in Estonia is the Estonian Data Protection Inspectorate, 39 Tatari St., 10134 Tallinn.

7. The Administrator is obliged to protect the Customers' personal data. Acquired Data is protected by appropriate technical and organisational measures that guarantee an adequate level of protection, in accordance with the applicable legislation.

8. The Administrator, while processing the Customers' personal data for the purposes indicated in this Statute, i.e. within the framework of data processing in connection with the provision of Payment Processing Services, does not make decisions in an automated manner, including in the form of profiling.

9. The provision of personal data with regard to the desire to use the Payment Processing Service is voluntary.

10. The Administrator may provide personal data to other entities in order to subcontract to them the processing of such personal data in the performance of the Services. The entities to which the Administrator entrusts the processing of personal data are indicated in the content of the Privacy Policy, which is posted on the Administrator's Website. Apart from that, the transfer of data to other entities may take place with the Customer's consent, unless it is done on the basis of legal provisions or at the request of relevant authorities, which the Administrator is obliged to do, as well as for the purposes necessary for the proper performance of the Agreement.

11. The Administrator may transfer personal data to third countries, i.e. countries outside the European Economic Area, however, in this case, the Administrator shall examine whether the third country in question has an adequate level of data protection, as required by the supervisory authorities.

12. Contact details of the Data Administrator (designated Data Protection Officer) on issues related to the protection of personal data: [email protected]. 

 

 

§ 5 

Complaint procedure

1. If, in the opinion of the Customer, the Payment Processing Services provided by the Platform Operator are not performed in accordance with the Statute, the Customer may lodge a complaint in the manner set out in this section.

2. The complaint may be lodged in writing:

• via traditional post, by sending it to the correspondence address of the Platform Operator: BB Trade Estonia OÜ, Harju maakond, Tallinn, Lasnamäe linnaosa, Tähesaju tee 9, 13917 ESTONIA (office no. 10, 2nd floor)

or:

• by e-mail, by sending it to the following e-mail address: [email protected].

3. The complaint should include:

• Customer identification data;

• the subject matter and circumstances justifying the complaint;

• the proposed method of resolving the complaint.

4. Complaints will be considered in the order of receipt, but no later than within 14 (fourteen) days. In the event that the complaint does not contain the information necessary for its consideration, the Platform Operator shall ask the Customer to supplement it to the extent necessary, and the period of 14 (fourteen) days shall then run from the date of delivery of the supplemented complaint. The Platform Operator reserves the right to extend the deadline for consideration of the complaint in justified cases, for a further 14 (fourteen) days, of which the complainant will be informed.

5. The Customer submitting the complaint shall be informed of the manner in which the complaint has been dealt with in the form in which it was submitted.

6. The Customer has the right to appeal against the decision made by the Operator of the Platform within the scope of the complaint. The provisions of paragraphs 2, 3 and 4 of this § shall apply accordingly.

 

§ 6 

Final provisions

1. In matters not regulated in this Statute, as well as in relation to capitalized expressions used therein, the provisions of the Regulations of zondacrypto pay shall apply.

2. The Operator of the Platform reserves the right to amend the Statute. Amendments will be effective 7 days after they are published on the Website and Portal.

3. An amendment to the Table of Fees and Commissions does not constitute an amendment to the Statute. 

4. The law applicable to the provision of the Payment Processing Service by the Payment Operator under the terms and conditions specified in the Statute shall be the law of the Republic of Estonia. The above reservation does not deprive the Customers who are consumers of the protection granted to them by the law of the place of their habitual residence.

5. Any disputes related to the Payment Processing Services shall be settled by the competent common courts.

6. The Customer who is a consumer shall have the possibility to use the out-of-court complaint and redress procedure. Information on how to access the aforementioned mode and dispute resolution procedures can be found, inter alia, on the EU online ODR platform, available at the following web address: http://ec.europa.eu/consumers/odr/.