Terms of Service

01Scope

1.1These Terms govern your access to and use of products and services provided by Payes and its affiliates (“we/us” or “Payes”), including but not limited to account and wallet features, stablecoin transfers, conversion/settlement, cards (virtual/physical, including wallet tokenization), offline POS acceptance, P2P/OTC trading, fiat on/off-ramps and settlement tools, APIs/SDKs, and admin portals.

1.2By registering, logging in, downloading, accessing, or using any part of the Services, you acknowledge that you have read, understood, and agree to be bound by these Terms and all related policies, rules, and notices (collectively, the “Agreement”). If you do not agree, please discontinue use immediately.

02Eligibility, Account & KYC/AML

2.1You confirm you have full legal capacity and are not subject to any applicable law, sanction, or restriction list published by us.

2.2You agree to complete and continuously cooperate with KYC/AML/CFT and sanctions screening. We may request identity, address/funds proof, and risk disclosures, and may limit features, set thresholds, or freeze accounts based on risk.

2.3You must safeguard credentials and MFA. Any instruction issued via your authenticated devices/credentials will be deemed yours. Losses due to compromised devices, jailbreaking, malware, or unauthorized third-party access are at your risk.

03Services Overview

3.1Stablecoin Wallet & Transfers

Receive, hold, and send supported digital assets (e.g., USDT/USDC) on specified networks; network fees and confirmations follow on-chain rules.

3.2Conversion/Settlement (Swap/Convert)

Where permitted, you may convert between stablecoins and fiat at real-time quotes that may include spread, service fee, and network fee. When JIT (just-in-time) is enabled, conversion triggers at payment/settlement time.

3.3Card Services

Subject to partner issuing programs and card networks (e.g., Visa/Mastercard), we provide virtual/physical cards, tokenized wallets (Apple/Google Pay), currency whitelist, and 3DS risk controls. Cards are fiat-denominated instruments and not crypto wallets.

3.4POS Acceptance

For merchants, offline QR acceptance with order creation, on-chain confirmation, status tracking, multi-store/terminal roles, and reporting.

3.5P2P/OTC

In supported markets, compliant peer-to-peer trading with listings/escrow as applicable; users must verify counterparties and payment rails.

3.6Fiat Accounts / Settlement

Where applicable, related fiat account and settlement features are provided or supported by our partner service providers. Availability, applicable rules, and funds handling follow in-product disclosures or partner terms and may vary by region.

04Fees, Rates & Invoicing

4.1Services may incur fees, including platform/service fees or spread, network (miner) fees, card transaction/cross-currency fees, withdrawal/remittance fees, and third-party channel fees.

4.2Cross-currency settlement at the network/clearing layer may apply.

4.3We display or disclose fees/rates in the interface; your order/payment confirms acceptance of the then-current values.

4.4Statements/invoices may be requested via the portal or prescribed process.

05Risk Disclosure

5.1Digital assets are volatile and may face technical/regulatory uncertainties and irreversibility risks; congestion, node/contract failures, third-party outages, or attacks may cause delays, failures, or losses.

5.2Stablecoins are not legal tender; peg, reserves, and redemption are determined by issuers/third parties.

5.3Cross-border payments/settlements are affected by local regulation and card-network rules; authorization, clearing, refunds, and timing are not fully under our control.

5.4We do not provide investment, legal, or tax advice; assess your risk tolerance.

06Instructions & Irrevocability

6.1Instructions you submit (orders, transfers, conversions, payments, cancellations, refund requests) are irrevocable once confirmed unless otherwise required by law or network rules.

6.2You bear losses arising from input errors (address, network, asset, amount). On-chain transactions are irreversible; while we may assist, we are not obliged to recover funds.

07Cards & Payments

7.1Cards are issued under partner programs and used on networks such as Visa/Mastercard; fiat accounting and clearing apply.

7.2You may configure payment currency whitelists/limits, enable/disable virtual/physical, cross-border/online usage, 3DS, etc. We or issuing partners may decline or reverse transactions for risk control.

7.3With JIT, your selected digital assets are converted to fiat at authorization/clearing time to fund the transaction; with pre-funding, card fiat balance is debited first.

7.4ATM withdrawal, subscriptions/merchant-initiated transactions, refunds, and chargebacks follow network and acquirer rules, with outcomes and timing determined by relevant parties.

08POS & Merchant Services

8.1Merchants may create stores, roles, and terminal activation codes in the portal; activated devices operate as independent cashier terminals.

8.2Terminals can create orders, present QR, accept chain payments, and track status; refunds, reconciliation, and settlement follow portal rules.

8.3Merchants must not engage in prohibited industries/transactions, money laundering, cash-outs, sham transactions, or illegal activities.

09P2P/OTC Rules

9.1Users must complete KYC and comply with listing/trading guidelines; we may require deposits, set limits, apply cooling periods, or adopt other measures.

9.2Losses due to counterparty default, fraud, or risky payment accounts are borne by the responsible party. We provide an appeal channel and may decide based on evidence.

10Compliance & Sanctions

10.1You must not use the Services for any unlawful, non-compliant, or sanctioned activities, including money laundering, terrorist financing, fraud, illegal gambling, illicit goods, IP infringement, or pyramid schemes.

10.2For restricted regions/subjects, we may refuse onboarding, limit features, freeze, or terminate Services.

10.3We may share necessary information with partners to fulfill compliance obligations.

11Third Parties & Custody

11.1Portions of the Services (including fiat rails, payment channels, cards, clearing/settlement, custody/technology) are provided or facilitated by third parties. Their terms, fees, and availability may affect your experience.

12Fee Changes & Promotions

12.1We may adjust fees/spreads/discounts based on market and cost; material changes will be announced in-product or via notice.

12.2Promotions may have thresholds, time limits, or regional restrictions; final interpretation rests with us.

13Security & Incident Response

13.1Use genuine systems/security software, keep apps/devices updated, avoid jailbreaking/rooting and untrusted add-ons.

13.2On suspicious login, payment, or asset movement, promptly freeze your account/card via support and file a ticket.

14Data & Privacy

14.1We handle your data per our Privacy Policy, including identity, transaction/risk, device, and compliance data.

14.2For KYC/AML, risk control, clearing/settlement, and customer service, necessary data may be shared with banks, card networks, payment institutions, and compliance vendors. Cross-border transfers will follow applicable law.

14.3You may request access, correction, deletion, or withdrawal of consent as permitted; withdrawing consent may impact availability.

15IP & Use Restrictions

15.1All IP rights in the Services (content, code, marks, UI, docs) belong to Payes or licensors.

15.2Without written consent, you shall not reverse engineer, bypass APIs, scrape at scale, or use the Services to provide competing offerings.

16Disclaimers & Liability Limits

16.1To the maximum extent permitted by law, the Services are provided “as is” and “as available”, with no warranty for fitness, continuity, error-free, or uninterrupted operation.

16.2We are not liable for losses caused by chain/node/network/acquirer/issuer failures, third-party outages, attacks, extreme markets, policy changes, or governmental orders.

16.3In all cases, our aggregate liability to you is limited to the fees you paid to us for the relevant Services in the last 12 months, unless mandatory law requires otherwise.

17Suspension, Freeze & Termination

17.1We may limit/suspend Services or close/terminate accounts without prior notice for breaches, abnormal/high-risk activities, regulatory requests, or legal process.

17.2After termination, and unless restricted by compliance or law, you may withdraw remaining withdrawable assets per process; ongoing transactions, disputes, and investigations may continue to be handled.

18Governing Law & Dispute Resolution

18.1These Terms are governed by the laws of the Hong Kong Special Administrative Region of the People’s Republic of China (Hong Kong), excluding its conflict-of-laws rules.

18.2Any dispute arising out of or in connection with these Terms shall, after good-faith negotiations fail, be referred to and finally resolved by arbitration administered by the Hong Kong International Arbitration Centre (HKIAC) under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The seat of arbitration shall be Hong Kong, and the language of the arbitration shall be English.

19Notices & E-Signatures

19.1We may notify you via website/app announcements, inbox, SMS/email, or other reasonable means; notices are deemed delivered upon dispatch.

19.2You agree to use electronic signatures/agreements/records with the same effect as paper.

20Changes & Severability

20.1We may amend these Terms due to business or legal changes; continued use constitutes acceptance.

20.2If any provision is held invalid or unenforceable, the remainder remains in force.

21Fees & Contact

For questions about these Terms, fees, or Services, contact us via in-app Settings → Help & Support or email [email protected]. We will respond within the statutory or stated timeframes.