Terms & Conditions

END-USER LICENSE AGREEMENT (EULA)

PeasyPay – Pay with a smile

Last updated on 19th December, 2019.

Please read the terms and conditions of this End User License Agreement (“Agreement”) carefully before you use our Services (as defined below). This is a legally binding contract. By assenting electronically, or installing or using the Services, you accept all the terms and conditions of this Agreement on behalf of yourself and any entity or individual you represent or for whose Device you acquire the Services (collectively “you”). If you do not agree with the terms and conditions of this Agreement, do not continue the installation process, do not use the Service and delete or destroy all copies of the Service, solution in your possession or control.

This Agreement relates to your use of certain software, mobile app – biometric authentication service, hardware and related firmware, including any updates (each a “Service”) in connection with which you are accepting this Agreement, and any related documentation. In this Agreement, PeasyPay means the entity providing the Service to you; “Documentation” means any user manuals and instructions provided with the Service; and “Applicable Conditions” means collectively the terms and conditions and documents you accepted when you acquired the Service including any terms and conditions of sale, and any partner agreement or other agreement between you and PeasyPay.

PeasyPay’s Mobile App – biometric authentication service is a service provided by PeasyPay that enables you to access PeasyPay’s Mobile App using multi-model face- and palm image recognition with biometric authentication, subject to this Agreement, enabling your chosen payment transactions executed by a payment gateway service provider. If you do not agree with or you are not comfortable with any aspect of this Agreement, the Privacy Policy or the Terms and Conditions, you should immediately discontinue use of our Service.

PeasyPay may amend this Agreement at any time by notice provided to you in accordance with this Agreement, and your continued use of any affected Service at any point at least 30 days after the notice date will constitute your acceptance of the amendment of this Agreement.

PeasyPay may require that you accept the amended Agreement in order to continue using any affected Service. If you decline to accept the amended Agreement, PeasyPay may terminate your use of such affected Service.

In this Agreement, “User” shall refer to you, and “PeasyPay” shall refer to PeasyPay Private Limited Liability Company, with a principal place of business at No 11 Kacsa Street, Budapest, H-1027 Hungary, website: https://www.peasypay.eu; support email: info@peasypay.eu.

1. PREAMBLE, DEFINITIONS

This Agreement’s terms and conditions shall be applied if you wish to install and use the Services. In this Agreement’s terms & conditions unless a different intention is expressed, use the following terms (as subsequently modified by amended legislation or regulation), which shall mean:

“User Account” or “Account” means the account created and opened by the User on his/her mobile device in the PeasyPay Mobile App in the name of the User;

“User” means a natural person who is the user of PeasyPay’s Biometric authentication and payment services as payer;

“User’s Bank” means the respective account servicing payment service provider of the User, that the User can use for payment transactions;

“Password” means any code of the User created in PeasyPay’s System (“PeasyPay System”) or a code provided to the User by the PeasyPay System for access to the Account and/or initiation and management of separate services provided by PeasyPay and/or initiation, authorization, implementation, confirmation and reception of Payment transactions;

“Payment order“ means an instruction given by the User to the payment gateway service provider to execute a Payment transaction;

“Payment transaction“ means an act, initiated by the payer or by the payee, of placing, transferring funds, based on the underlying obligations related to the respective transaction between the Payer and the Payee;

“Payment Instrument“ means the device or card, offered or enabled by the PeasyPay System and chosen by the User to complete the Payment transaction;

“Payee” or “Merchant” means a natural or legal person who receives the funds of a Payment transaction;

“Payer” means a natural or legal person who holds a payment account and allows a Payment order from that account;

“PSP” means the payment service provider operating the payment gateway and fulfilling the payment transaction;

“Settlement Date” means the date, on which the funds that are being transferred must be received by Payee;

“Agreement” and “EULA” means these terms & conditions and any other documents annexed or incorporated by reference;

“Unique identifier” means a combination of letters, numbers or symbols specified to the User of the PeasyPay System’s Services and to be provided by the User to identify unambiguously himself/herself as the User of the PeasyPay Services and his/her payment account.

Headings are for convenience only and shall not affect the construction and interpretation of this EULA’s terms & conditions. The singular includes the plural and vice versa. Any reference in this EULA to any law, statute, regulation or enactment shall include references to any statutory modification or re-enactment thereof or to any regulation or order made under such law, statute or enactment (or under such modification or re-enactment). This EULA is the inseparable part of all other agreements between PeasyPay and the User.

2. SERVICE DESCRIPTION

PeasyPay renders the following Services to the User:

Biometric authentication services for the authentication of the identity of the User by face and palm biometric authentication enabling operations required for operating a payment account by the PSP. The face and palm images are converted into a code by an algorithm used for biometric authentication purposes. Execution of payment transactions, including transfers of funds on the User’s payment account with the payment service provider (PSP) through a payment device after authentication by PeasyPay biometric authentication System.

3. REGISTRATION AND CREATION OF USER ACCOUNT

3.1. Creation of User Account by registration on PeasyPay’s Mobile app enabling the User to use the biometric authentication Services, optionally review transaction history in his/her profile. To get registered by the User in the User Account the User will be asked to provide personal information according to PeasyPay’s Privacy Policy and applicable regulations. PeasyPay has the right to approve or reject User’s registration at its sole discretion.

3.2. Execution of Payment transaction. This Service allows the User to pay in the countries in which PeasyPay

operates, to any person or business in the same or another country. PeasyPay is always expanding the list of countries it serves, therefore for the most up to date list of the supported countries, please visit www.PeasyPay.eu

3.3. When registering in PeasyPay’s System, first of all, an Account for the User is created. The Account is personal, thus each User shall get registered in the System, create his/ her personal Account and perform the User identification procedure required by the System.

3.4. This EULA comes into force after the User has registered in the PeasyPay’s System, read the present EULA, the Privacy Policy and expressed his/her consent to comply with them electronically.

3.5. This EULA is valid for unlimited period of time, unless otherwise agreed by the Parties.

3.6. By registering in the System of PeasyPay, the User confirms that he/she agrees with the terms and conditions of this EULA and undertakes to fully comply with them.

3.7. The User confirms that he/she provided correct, up-to-date and valid data and Personal information when registering in the System of PeasyPay and, if there is a need of changing or adding data, the User will submit the correct, up-to-date and valid data and Personal information via the System or request the customer care by email to info@peasypay.eu to modify them. The User shall be liable and bear any losses that may occur due to submission of invalid data.

4. IDENTIFICATION OF THE USER

4.1. The User will be required to identify himself/herself to PeasyPay and its biometric authentication System before addressing payment instructions including by its biometric data and information, more particularly e.g. his/her own palm and face images. The User may be required to use an additional code/password to activate his/her payment transaction. These identification obligations are also imposed by the legislation against money laundering and the financing of terrorist activities.

4.2. For the purpose of performing User identification and authentication, PeasyPay has the right to demand the User to perform the following actions:

4.2.1. When performing duties established by the legislation, PeasyPay has the right to demand from the User to perform the User identification and authentication procedure by a specific method indicated by PeasyPay, or requested by the PSP and/or the User’s Bank.

4.2.2. The User agrees that if the User does not fully comply with this request for identification and authentication, PeasyPay reserves the right to suspend his/her User Account as well as access to all other Services until the request has been fully complied with, or to close his/her Account.

4.3. PeasyPay is entitled to request additional identification data at any time from the User to comply with applicable regulations.

5. TERMINAL DEVICE

To submit Payment order after the authentication by PeasyPay’s System, the User will be required to use the terminal device provided by the Merchant, who will handle the terminal device and the PSP will process the payment.

6. THE CONSENT FOR THE BIOMETRIC AUTHENTICATION, IDENTIFICATION, AND THE PAYMENT ORDER

6.1. The consent for biometric authentication, identification and for the placing of a payment order shall be expressed prior to the execution of each Payment transaction. The User’s consent is considered to be given by using the biometric authentication terminal device enabling the biometric authentication and identification service of the PeasyPay System, followed by the placement of his/her Payment order, which will be processed by the PSP executing the Payment transaction.

6.2. The PeasyPay System may require the User to add the login credentials registered by him/her when he/she created his/her User Account.

6.3. The consent may be expressed by other form and manner needed for using PeasyPay’s Services.

7. UPDATES

7.1. PeasyPay, from time to time during the term of this Agreement and without your separate permission or consent, may deploy an upgrade or update of, or replacement for, any Service (“Update”), and as a result of any such deployment you may not be able to use the applicable Service or Device (or certain functions of the Device) until any such Update is fully installed or activated.

7.2. Each Update will be deemed to form a part of the “Service” for all purposes under this Agreement.

7.3. We cannot guarantee that the minimum requirements applicable to the permitted mobile devices will be the same after each Update.

7.4. Updates may include both additions to, and removal of, any particular features or functionality offered by a Service or may replace it entirely, and PeasyPay will determine the content, features and functionality of the updated Service in its sole discretion.

7.5. PeasyPay is not required to offer you the option to decline or delay Updates but, in any event, you may need to download and permit installation or activation of all available Updates to obtain maximum benefit from the Service. PeasyPay may stop providing support for a Service until you have accepted and installed or activated all Updates. PeasyPay in its sole discretion will determine when and if Updates are appropriate and has no obligation to make any Updates available to you.

7.6. PeasyPay in its sole discretion may stop providing Updates for any version of the Service other than the most current version, or Updates supporting use of the Service in connection with any versions of operating systems, email programs, browser programs and other software with which the Service is designed to operate.

8. OWNERSHIP RIGHTS

8.1. The Services are the intellectual property of PeasyPay and are protected by applicable copyright laws, and other applicable laws of the country in which the Service is being used. The structure, organization and computer code of any Software and firmware are valuable trade secrets and confidential information of PeasyPay. To the extent you provide any comments or suggestions about the Service to PeasyPay, you grant PeasyPay the right and license to retain and use any such comments or suggestions for any purpose in its current or future products or services, without further compensation to you and without your approval of such retention or use.

8.2. Except as stated in this Agreement, your possession, use of a Service does not grant you any rights or title to any intellectual property rights in the Service. All rights to the Service, including all associated copyrights, patents, trade secret rights, trademarks and other intellectual property rights, are reserved by PeasyPay.

9. RESTRICTIONS

You may not install and use the Service except as set forth in this Agreement. You may not, and may not permit any third party to:

a) use any authorization code, username/password combination or other activation code or number supplied by PeasyPay in connection with the Service (“Activation Code”);

b) disclose any Activation Code to any party other than PeasyPay or PeasyPay’s designated representatives;

c) except as expressly authorized by law:

(i) reverse engineer, disassemble, decompile, translate, reconstruct, transform or extract the Service or any portion of the Service (including any related Malicious Code (as defined below) signatures and Malicious Code detection routines); or

(ii) change, modify or otherwise alter the Service (including any related Malicious Code signatures and Malicious Code detection routines). “Malicious Code” means any code, feature, routine or device intended, or designed automatically, or on a certain event occurring, or on your taking or failing to take a certain action, or at the direction or control of any person or entity, to:

(a) disrupt the operation of any software, service, device, property, network or data;

(b) cause any software, service, device, property, network or data to be destroyed, altered, erased, damaged, or otherwise cause its operation to be disrupted or degraded; or

(c) permit any person or entity to access, take control of, or destroy, alter, erase, damage, or

otherwise disrupt or degrade the operation of any portion of any software, service, device, property, network or data, and any computer virus, worm, trap door, back door, time bomb, malicious program, or a mechanism such as a software lock or routine for password checking, or any other code intended or designed to enable any matters described in this definition (including applets, scripting languages, browser plug-ins or pushed content);

d) except as authorized by a separate agreement between you and PeasyPay, publish, resell, distribute, broadcast, transmit, communicate, transfer, pledge, rent, share or sublicense the Service;

e) except as expressly authorized by this Agreement, the applicable conditions or another agreement between you and PeasyPay, use the Service to grant any third party access to or use of any Service;

f) use the Service to provide or build a product or service that competes with the Service;

g) use or attempt to use the Service to:

(i) upload, download, stream, transmit, copy or store any information, data, or materials, or engage or assist in any activity that may:

(a) infringe the intellectual property rights or other rights of any third party;

(b) contain any unlawful, harmful, threatening, abusive, defamatory or otherwise objectionable material of any kind,

(c) harm or attempt to harm others;

(d) have the potential to incite or produce conduct that is unlawful, harmful, threatening, abusive, harassing, tortious, defamatory, libelos, vulgar, obscene, invasive of another’s privacy, hateful, or racially, ethnically, religiously or sexually discriminatory or otherwise objectionable; (e) promote or provide instructional information about illegal activities, promote physical harm or injury against any group or individual, or promote any act of cruelty to animals;

(f) impersonate any person or entity or otherwise misrepresent your affiliation with a person or entity; or

(g) assist any fraud, deception or theft; or

(h) damage, disable or impair the operation of, or gain or attempt to gain unauthorized access, receipt, use, copying, alteration or destruction of or to, any property, Devices, software, services, networks or data by any means, including by hacking, phishing, spoofing or seeking to circumvent or defeat any firewalls, password protection or other information security protections or controls of whatever nature;

(ii) in any way violate any applicable local, national or international law or regulation;

(iii) manipulate identifiers in order to disguise the origin of any content transmitted through the use of the Service;

(iv) upload, post, email or otherwise transmit any unsolicited or unauthorized advertising, promotional materials; or

(v) collect or store personal data without the knowledge and express consent of the data subject;

h) damage, disable or impair the operation of, or gain or attempt to gain unauthorized access to the Service or to any property, devices, software, services, networks or data connected to, or inter-operating with the Service, or to any content or data stored, accessed or delivered through such Service, by any means, including by hacking, phishing, spoofing or seeking to circumvent or defeat any firewalls, password protection or other information security protections or controls of whatever nature;

i) test or benchmark, or disclose or publish testing or benchmark results for the Service without PeasyPay’s prior written consent; or

j) defeat or circumvent, attempt to defeat or circumvent, or authorize or assist any third party in defeating or circumventing controls on the use of copies of the Service.

10. CANCELLATION OF PAYMENT ORDER, REFUND POLICY

10.1. The User’s payment can be refunded based on the following: The User submits a request for refund by contacting his/her respective account servicing payment service provider (User’s Bank). The User’s Bank will issue refunds in accordance with requirements deriving from the applicable laws and the User’s Bank’s policy. Refund requests are only considered for processing by User’s Bank if PSP and PeasyPay are both able to identify the User by

his personal identifiable information, which is registered with PSP and PeasyPay with regard to the User in accordance with this EULA and the PSP’s Terms and Conditions.

10.2. The Payment Order may be cancelled only in case the User (Payer) and the User’s Bank agree on this, and the consent of the Payee might be necessary.

11. USER REPRESENTATIONS AND WARRANTIES

11.1. The User represents and warrants to PeasyPay the following:

a) This Agreement’s terms & conditions constitutes a legal, valid and binding obligation of the User;

b) the User has the capacity to use the Services, and that it shall indemnify and hold PeasyPay harmless against any liability that could result for PeasyPay from a breach of this representation and warranty;

c) all information supplied to PeasyPay by the User is, or at the time it is supplied will be, accurate in all material respects and the User will not omit or withhold any information, which would make such information inaccurate, or invalid in any material respect;

d) the User and PeasyPay are bound by the applicable financial services laws and regulations (as modified from time to time);

11.2. PeasyPay relies on representations and warranties made by the User.

11.3. These representations and warranties, and those contained elsewhere in this Agreement survive the term of this Agreement.

12. DUTIES AND OBLIGATIONS OF THE USER

12.1. The User entitled to use the Services shall have the following duties:

a) having found out about any loss, theft, illegal acquisition of the User’s Account or about its unauthorized use, also, about facts or suspicions that personalized security features of his Account have become known to or may be available to any third parties, to immediately inform PeasyPay (by e-mail info@PeasyPay.eu or by phone number +36-1-371-2555) of any event that could lead to fraudulent, abusive or unauthorized use of User’s account.

b) having been issued the User’s Account, the User must take actions to protect the personalized security features of the Account;

12.2. The User undertakes to use the Services in good faith, for legal purposes only and in compliance with this Agreement.

12.3. The User shall verify the correct execution of his payment instructions at regular occasions. The information available by the User’s Bank shall constitute valid evidence and shall prevail over any other information regarding such payment instructions and their execution. PeasyPay is especially not responsible for fraudulent messages sent by unauthorized persons or for communication of wrong information. PeasyPay shall not be liable for any consequence resulting from any such wrong information, nor for payment or reimbursement in any case.

12.4. The User is informed of the risk associated with the loss or theft of his identifier, the hacking of his computer, mobile phone or any other device used for the same or similar purposes, e.g. tablet (“device”) or any other fraudulent act enabling third parties to make abusive, fraudulent or unauthorized use of his account. In addition, technical problems may occur in the use of a computer, or Internet or on the PeasyPay systems or on the network of mobile telephone operators, which can prevent or suspend the use of the Services. The User alone is also responsible for preserving his device.

12.5. The User notably undertakes for such purposes:

a) not to leave his device and/or identifier accessible to third parties;

b) not to let third parties use his/her device;

c) to memorize his/her code identifier (if any) and not to write it down, type it in anywhere and not to communicate it to third parties;

d) to optimally secure his/her device (antivirus software, anti-spyware, firewall, etc.);

e) to immediately inform PeasyPay (by e-mail info@PeasyPay.eu or by phone number +36-1-371-2555) of any event that could lead to fraudulent, abusive or unauthorized use of User’s account.

12.6. PeasyPay also reserves the right (but has no obligation) to suspend the Services for justified reasons such as

security reasons or the presumption of an unauthorized or fraudulent use of any of the identifiers, Service or System components.

12.7. PeasyPay reserves the right, at its sole discretion and without explanation, to refuse to provide the PeasyPay Services or to limit the number of transaction for the User. PeasyPay will inform the User regarding any refusal before or as soon as practicable after such refusal.

13. NOTIFICATIONS

13.1. Notifications delivered by the Parties shall be deemed received:

a) if a notification has been delivered verbally (including by phone) – at the time it is being told;

b) if a notification is handed in directly – on the day it is handed in;

c) if a notification is sent by e-mail, and other means of communication – on the nearest business day in the country of the receiver since its dispatch;

d) if a notification is announced via PeasyPay System – on the nearest business day in the User’s country following the day of its announcement;

e) if a notification is announced publicly – on the day of its announcement.

13.2. If the agreement or any other documents (applications, forms, etc.) provided to PeasyPay does not contain the User’s contact information, PeasyPay shall have the right to give the notification according to the latest contact information indicated by the User. If the agreement does not contain PeasyPay contact information, the User shall have the right to give the notification according to the contact information indicated at PeasyPay website: www.PeasyPay.eu

13.3. The Parties must immediately inform each other of any change in their contact information. At PeasyPay’s request the User must provide relevant documents in evidence of a change in the contact information. If case of failure to fulfil such duty, it shall be deemed that any notification sent according to the latest information indicated to the other Party has been duly sent, and any obligation fulfilled based on such information has been duly fulfilled.

13.4. The Parties must immediately provide each other with information of any circumstances that may be important for performing this Agreement.

13.5. This Agreement, all communication shall be announced in the English language. The agreements to be concluded by and between the Parties shall be executed in the English language unless otherwise agreed by the Parties.

13.6. By accepting this Agreement, User agrees that all the communication, including notifications will be in English unless otherwise agreed by the Parties.

13.7. PeasyPay notification publicly announced at PeasyPay’s site or on its Mobile App shall be made in the English language.

13.8. Documents provided to PeasyPay must be made in the English language. If documents provided to PeasyPay are made in any other language, PeasyPay shall be entitled to request their translation into the English language or any other language indicated by PeasyPay by a competent translator, official translation office acceptable to PeasyPay. PeasyPay shall be also entitled to request that authenticity of the translator’s signature is notarized.

13.9. The User shall be entitled to anytime familiarize with the effective version of this Agreement, also, with any version of the Agreement that was effective after the Effective Date. The aforementioned documents and information may be announced at PeasyPay’s Mobile App, and if they are not announced and a separate request of the User has been received, they must be provided to the User in writing or using any other durable medium.

13.10. If the User would like to contact PeasyPay about a concern relating to this Agreement, the User may call on +36-1-371-2555 (note: telephone network charges will apply), or contact PeasyPay through the Account or via email info@peasypay.eu PeasyPay will try to resolve any issues the User may have about their Account or the Services of PeasyPay. PeasyPay shall provide the answer within 15 (fifteen) business days of receiving User’s concern unless the concern is of a “simple” nature and can be resolved with 2 (two) business days from the receipt day. PeasyPay shall inform the User if exceptional circumstances arise, in which case it may take up to 30 (thirty) business days to address User’s concern.

14. SECURITY AND RECTIFYING MEASURES

14.1. Privacy Policy. For information about how PeasyPay handles your personal information please carefully review PeasyPay’s Privacy Policy. A copy of the Privacy Policy may be obtained upon request at info@PeasyPay.com,

or by visiting www.PeasyPay.com.

14.2. Security threat.

a) In the event of suspect, fraud or any security threats to User’s information and funds PeasyPay will immediately block the User’s Account access aiming to prevent personal data and financial loss as well as will terminate actions of processing User’s submitted Payment transaction order if the Payment transaction hasn’t been processed yet by the PSP.

b) The information of the incident will be shared with the User through applicable means of communication (no other than specified previously) depending on the type of incident and if any of the contact information is compromised.

c) The Account may be renewed only after security of it is restored.

14.3. Complaint. In the event of a dispute the User has the right to raise a complaint by sending us an email describing the problem in details to info@peasypay.eu or by contacting our customer service by telephone at +36-1-371-2555.

14.4. Notices provided by the User regarding the unauthorized or improperly executed Payment transactions.

a) The User is obligated to check the information about the executed Payment transactions at least 1 (one) time per month.

b) The User is obligated to inform PeasyPay in writing about the unauthorized or improperly executed Payment transactions, including the noticed mistakes, inaccuracies in the extract within 2 (two) business days from the acknowledge of such circumstances and in any case not later than within 2 (two) months from the date on which (in the opinion of the User) PeasyPay executed unauthorized or improperly executed the Payment transaction.

c) In case if the User does not notify PeasyPay about the circumstances described above within the terms indicated then it shall be considered that the User unconditionally confirmed the Payment transactions executed in the User’s Account.

14.5. The liability of the User for unauthorized Payments transactions and the liability of PeasyPay for the unauthorized Payment transactions

a) In case if the User denies the authorization of the executed Payment transaction or declares that the Payment transaction was executed improperly, PeasyPay is obligated to prove that the Payment transaction was authorized, it has been properly registered, and was not affected by technical disturbances or other deficiencies in the Services provided by PeasyPay.

b) In accordance with the terms indicated in this Agreement or having determined that the Payment transaction was not authorized by the User, PeasyPay without undue delay, but no later than by the end of the next Business day notify the PSP and the User shall also notify its respective account servicing payment service provider (User’s Bank) to return the amount of the unauthorized Payment transaction to the User, unless PeasyPay has reasonable suspicious of the fraud.

c) The User bears all the losses that have arisen due to unauthorized Payment transactions for the amount of up to 50 (fifty) Euros if these loses have been incurred due to the User had not protected personalized security features unless otherwise stipulated by the payment gateway service provider or the account servicing bank of the User.

d) The User is liable for any losses caused by unauthorized Payment transaction if such losses incurred to the User due to that that the User has acted fraudulently or failed with intent or gross negligence to fulfil one or more of the User’s obligations under this Agreement.

e) The Account may be blocked by the User’s initiative if the User submits a respective request to PeasyPay. PeasyPay has the right to demand that the request submitted by the User’s oral request to block the Account be subsequently approved in writing or in another manner acceptable to PeasyPay.

(i) If PeasyPay has the reasonable doubts that the request indicated in the previous point is not submitted by the User, PeasyPay has the right to refuse to block the Account. In such cases, PeasyPay shall not be liable for any losses that may result from the failure to comply with the said request.

f) Other terms of the liability of the Parties for the unauthorized Payment transactions may be indicated in the additional agreements between the Parties.

g) Liability of PeasyPay for proper execution of Payment transaction.

(i) In case of the improper execution of the Payment transaction, PeasyPay is liable only due to the

fault of PeasyPay. PeasyPay is not liable for third parties’ mistakes.

h) PeasyPay is liable for the properly initiated Payment order with the terms set forth by this Agreement and / or additional agreements signed between the Parties.

i) PeasyPay is not liable for the indirect losses incurred by the User and related to the non-executed Payment order or improperly executed Payment order.

j) PeasyPay is not liable for claims raised between the Payee and Payer and such claims are not reviewed by PeasyPay. The User may submit the claim to PeasyPay only regarding the non- performance or improperly performance of the obligations of PeasyPay.

k) Limitations of liability of PeasyPay shall not be applied if such limitations are prohibited by the applicable law.

l) The conditions of the re-payment of the amount of the Payment transactions of the Payee or initiated by the Payee are the same as they are set forth in Law on Payments of Hungary, unless otherwise agreed by the Parties.

14.6 Payment order, unique identifier.

a) If the User initiating the Payment order executes a Payment order by identifying a unique identifier, such Payment order shall be deemed to be executed properly if it was executed according to the specified unique identifier.

b) PeasyPay has the right, but it is not obliged to check whether the unique identifier presented in the Payment order received by PeasyPay corresponds to the Account holder’s name and surname (name), or other identity attributes.

c) If PeasyPay carries out the an inspection (for example, in the prevention of money laundering risk) and find out clear mismatch between the unique identifier submitted to PeasyPay and the Account holder’s identity attributes, biometric authentication results, PeasyPay shall have the right not to execute such a Payment order.

d) If the User (Payer) initiates properly the Payment order and the Payment transaction is not executed, or executed improperly, PeasyPay at the request of such User, shall immediately and without charge take measures to trace the Payment transaction and to inform the User about the results of search.

15. MOBILE PHONE APPLICATION

15.1. The User acknowledges that it has read, understood and agreed to the terms and conditions associated with dealing via our mobile phone application facility as set out in this Agreement.

15.2. The mobile phone application may be a proprietary service offered by PeasyPay or a third-party system. The User agrees to use the online mobile phone application software solely for the purposes set forth herein.

15.3. The mobile phone application are provided on an “as–is” basis and PeasyPay makes no express or implied representations or warranties to the User regarding their operation or usability.

15.4. PeasyPay makes no representations or warranties regarding any services provided by any third party.

15.5. The mobile application may be available in several versions, which may be differentiated in various aspects including, but not limited to the level of security applied, products and services available etc. PeasyPay shall not be liable to the User for any loss, expense, cost or liability suffered or incurred by the User due to the User using a version different from the standard version with all available updates installed.

15.6. PeasyPay does not warrant that access to or use of the mobile phone application will be uninterrupted or error-free, or that the Service will meet any particular criteria with respect to its performance or quality. PeasyPay expressly disclaims all implied warranties, including without limitation warranties of merchantability, title, fitness for a particular purpose, non- infringement, compatibility, security or accuracy.

15.7. The use and storage of any information provided or made available to the User through the use of the mobile phone application is for the use of the User and is the User’s sole risk and responsibility.

15.8. The User is responsible for providing and maintaining the communications equipment and telephone or alternative services required for accessing and using the mobile phone application, and for all communications service fees and charges incurred by the User in accessing the mobile phone application.

15.9. PeasyPay may at any time at its sole discretion terminate or restrict any User’s access to the mobile phone application at any time. Should PeasyPay terminate this Agreement or access to the mobile phone application, the User will be liable for all fees charges and obligations incurred under this Agreement prior to termination.

15.10. The User acknowledges that from time to time, and for any reason, the mobile phone application may not

be operational or otherwise available for the User’s use due to servicing, hardware malfunction, software defect, service or transmission interruption or other cause.

15.11. The User’s failure to observe any of the undertakings or representations may result in civil or criminal liability, as well as termination of the use of the mobile phone application.

15.12. The User may not under any circumstance use the mobile phone application to do any of the following:

a) publish, post, distribute or disseminate defamatory, infringing, obscene or other unlawful or offensive material or information;

b) intercept or attempt to intercept any email correspondence;

c) use the mobile phone application in any manner that may adversely affect its availability or its resources to other users;

d) send correspondence electronically or otherwise to other users for any purpose other than personal communication; or

e) act, or fail to act in a manner which may result in the violation of any laws or regulations.

16. INDEMNITY

16.1. The User will indemnify and keep indemnified PeasyPay and its employees, contractors or agents from and against any cost, expense, claim, action, suit, loss, damage or other amounts whatsoever arising out of any default, whether by act or omission, of the User under this Agreement or anything lawfully done by PeasyPay in accordance with this Agreement or by reason of PeasyPay complying with any direction, request or requirement of any regulatory authority

16.2. PeasyPay shall not be responsible or liable in any way for any delay or error in the transmission or execution of any dealing by it under this Agreement caused by the User or any other third party, including but not limited to any systems or operational failure or action, bank delay, postal delay, failure or delay of any fax or electronic transmission or delay caused by accident, emergency or act of god.

16.3. No warranty is provided by PeasyPay in relation to information or advice sourced from third parties, and all information or advice provided by PeasyPay to the User is for the private use of the User and is not to be communicated to any third party without the prior written consent of PeasyPay.

16.4. These indemnities shall survive any termination of the User relationship.

17. LIMITATION OF LIABILITY

17.1. All obligations of PeasyPay are obligations to use reasonable endeavors and do not constitute obligations to effectively achieve any result.

17.2. PeasyPay is responsible only for intentional misconduct or serious negligence.

17.3. The User declares it has read, understood and accepted all of the terms and conditions outlined in this Agreement. The User agrees that when entering into an agreement with PeasyPay the User is relying on its own judgment and, to the extent permitted by law, in the absence of negligence, fraud or dishonesty by PeasyPay or any of its employees, agents and representatives in relation to PeasyPay’s activities, PeasyPay shall bear no responsibility or liability of any kind whatsoever with respect to any advice or recommendation given or views expressed to the User, whether or not the advice, recommendation, or views expressed was as a result of a request by the User, nor will PeasyPay be liable in any respect of any losses incurred by the User resulting from dealing in any product or products or services offered by PeasyPay.

17.4. PeasyPay will bear no liability whatsoever in respect of any private dealings, contracts, transactions or relationships between the User and any of PeasyPay’s employees or agents.

17.5. In the absence of negligence, fraud, dishonesty or misconduct by PeasyPay or any of its employees, agents and representatives and to the full extent of the law, PeasyPay bears no responsibility or liability for any User’s losses or damages whatsoever incurred as a result of PeasyPay’s failure to execute orders in a timely manner or administer this Agreement in the manner contemplated by this Agreement for reasons beyond its control and, without limiting the indemnity as described above, the User indemnifies and agrees to keep PeasyPay and its employees, agents and representatives (for whom PeasyPay acts as agent) indemnified and against all sums of money, actions, proceedings, suits, claims, demands, damages, costs, expenses and other amounts whatsoever arising in respect of any such loss or

damage. Reasons outside PeasyPay’s control may include but are not limited to, government restrictions, power failure, telecommunication failure, strikes or war.

17.6. In all cases where PeasyPay liability is engaged, that liability shall be limited to damages that constitute the necessary, foreseeable and inevitable direct consequence of PeasyPay fault. PeasyPay shall not be liable for any indirect or consequential damages (including any loss of profits, goodwill, revenue, production, anticipated savings, reputational loss, end user claims or losses consequent upon loss or corruption of data nor the cost of reconstituting data).

17.7. All such available exemptions and limitations of liability shall apply in respect of PeasyPay’s employees, officers, agents and representatives.

18. PRIVACY

18.1. In order to provide the User with Services, PeasyPay needs to collect personal information about the User and obtain the User’s agreement in relation to the handling of such personal information. If the User does not provide the requested information or agree to the information handling practices detailed in this Agreement and the Privacy Policy, Terms and Conditions, PeasyPay may be unable to provide the Services outlined in this Agreement to the User.

18.2. The User shall ensure that all information provided to PeasyPay is accurate and up-to-date at all times. Any changes must be advised to PeasyPay as soon as practicable.

18.3. PeasyPay has systems and processes in place to address privacy requirements and can provide the User with a Privacy Policy should the User require further information about PeasyPay’s information handling practices.

18.4. The User authorizes PeasyPay to collect, use, store or otherwise process personal information described in the Privacy Policy of PeasyPay and which enables PeasyPay to provide and/or improve its Services.

18.5. The User, as a data subject, shall have the right to:

a) know/be informed about the processing of his/her personal data;

b) have access to his/her personal data and familiarize him/herself with the processing method;

c) demand rectification or destruction of his/her personal data or restriction of further processing of his/her personal data, with the exception of storage, where the data are processed not in compliance with the provisions of laws;

d) object to the processing of his/her personal data;

e9 and all other Privacy Rights as described in the Privacy Policy of PeasyPay.

19. AMENDMENTS TO SERVICES AND TERMS AND CONDITIONS

19.1. PeasyPay is entitled at any time to make amendments or improvements that it deems helpful or necessary to ensure the continuity, development and security of the Services; it can limit or extend the scope of the Services or the payment methods (either individually or collectively for all Users).

19.2. PeasyPay may amend this Agreement, at any time, provided it informs the User thereof at least 30 days before the entry into force of the amended Agreement, with personal notice through the User’s Account, by a notice on the Website or by any electronic means. If the User does not accept such amended Agreement, he is entitled to terminate the Agreement, without owing any compensation for such termination, by a termination notice before the entry into force of such amended Agreement. If the User has not sent out termination notice before the entry into force of the amended Agreement, he is deemed to have accepted the amended Agreement.

19.3. The termination of these Agreement shall not release the User from its obligations to PeasyPay arising prior to the date of termination of the Agreement to be properly executed.

19.4. If the User does not use his right to terminate the Agreement, the User shall be deemed as accepted the changes to this Agreement, applicable prices and commission fees and / or the terms of services made. If the User agrees with the changes to this Agreement, applicable prices and commission fees and / or the terms of services, then the User is not entitled subsequently to submit to PeasyPay User’s objection and / or claims regarding the content of such changes.

20. TERMINATION

20.1. The User may terminate this Agreement by notifying PeasyPay at least 30 days prior to the date of termination.

20.2. PeasyPay may terminate this Agreement by notifying the User 30 days prior to the date of termination.

20.3. PeasyPay may also terminate this Agreement by notifying the User 30 days prior to the date of termination, if the User has not made any Payment transactions for more than 24 (twenty-four) consecutive months. Before the termination based on such legal basis as defined in this clause, PeasyPay contacts with the User due to the clear up of the necessity of opened User’s Account.

20.4. The Agreement may be terminated by mutual agreement between Parties.

20.5. PeasyPay may terminate the Agreement immediately if PeasyPay reasonably suspects or determines that the User:

a) is in violation of applicable laws or regulations including those connected with anti-money laundering or counter-terrorist financing;

b) has provided false or misleading information or documentation to PeasyPay, failed to provide the documents and information connected with its Account and using the Services or failed to keep such documents and information up-to-date; or

c) is otherwise using the Services for malicious, illegal or immoral purposes.

20.6. If it is allowed to do so under the applicable laws and regulations, PeasyPay will notify the User about the underlying reasons of termination of this Agreement as soon as possible.

20.7. The termination of the Agreement shall not release the Parties from their obligations to each other arising prior to the date of termination of this Agreement to be properly executed.

21. GOVERNING LAW AND DISPUTE RESOLUTION

21.1. This Agreement shall be governed by and construed in accordance with the Hungarian law.

21.2. The disputes between PeasyPay and the User shall be solved through negotiations.

21.3. In case if the dispute cannot be solved through negotiations, the User can submit a complaint by post or e-mail, specifying User’s name, contact details, relevant information, which would indicate why the User reasonably believes that PeasyPay violated the legal rights and interests of the User while providing the Services. The User can add other available evidence that justifies the need for such a complaint. If the User would like to submit a formal complaint, the User shall send the email to info@PeasyPay.com.

21.4. Upon receipt of a complaint from the User, PeasyPay confirms receipt of the complaint and indicates the time limit within which the reply will be submitted. In each case, the deadline for submitting a reply may vary as it directly depends on the extent and complexity of the complaint filed, but PeasyPay will make the maximum effort to provide the response to the User within the shortest possible time, but not later than 15 (fifteen) Business days.

21.5. If PeasyPay is not able to provide an answer to the complaint of the User within 15 (fifteen) Business days for reasons beyond the control of PeasyPay, PeasyPay shall send a response to the User’s e-mail address, clearly indicating the reasons for the delay in responding to the complaint and specifying the deadline by which the User will receive the final reply. In any event, the deadline for receiving the final reply shall not exceed 30 (thirty) Business days. The complaint handling procedure is free of charge for the Users.

21.6. The User who have a place of residence in other European Union or European Economic Area member states are also able to submit their claim to the relevant local authority in their place of residence.