Terms and Conditions on how to use the Payphone app

These Terms and Conditions of Use of the PAYPHONE Application (hereinafter, “Terms of Use”) establish the contractual framework that regulates the relationship between ECUAPAYPHONE C.A. (hereinafter, “PAYPHONE”) and the user who accepts them electronically (hereinafter, “User”). PAYPHONE is a company incorporated under the laws of the Republic of Ecuador, authorized to provide services to the financial system in accordance with the provisions of the Organic Monetary and Financial Code, and operates under its trade name PAYPHONE. These Terms of Use come into force upon electronic acceptance by the User and are permanently available at the link: www.payphone.app/en-us/terms-and-conditions.

PAYPHONE offers a technological solution designed to facilitate the management of collections and payments between users, acting as an independent technological intermediary. This platform is aimed at users resident in Ecuador, Central America, the United States and, eventually, other regions of Latin America and the world where PAYPHONE extends its operations, always respecting applicable local regulations.

The User declares and guarantees to be fully empowered to enter into legal acts related to the services offered by PAYPHONE. When registering on the platform, the User must identify himself by means of a username and password, or other authentication mechanisms accepted by the User's device software (for example, biometric authentication).

The User undertakes to maintain the confidentiality and security of these credentials, being solely responsible for their custody. PAYPHONE He will not assume any liability for the disclosure, loss or unauthorized use of such credentials, or for transactions made under the User account, which will be considered a free and valid expression of your willingness.

The User guarantees the veracity, accuracy and integrity of all information provided during the registration process and use of the platform. Any falsehood or inaccuracy in this information will be the sole responsibility of the User, exempting PAYPHONE from any derivative consequence of it.

PAYPHONE provides a technological platform that allows Users connect to each other to manage processing services of Charges or payments efficiently and safely. The platform includes a mobile application, a Payment Button and a transactional API, designed to facilitate commercial transactions.

However, PAYPHONE acts solely as an independent third party, providing the necessary technology without acquiring responsibility or solidarity in the transactions carried out. This means that PAYPHONE does not guarantee the consideration or delivery of goods or services associated with payments processed through its platform.

The service is mainly aimed at residents of Ecuador, Central America and the United States, with plans to expand to other countries of Latin America and other regions of the world where PAYPHONE can operate statutorily. The User acknowledges that the use of the platform is subject to laws and regulations applicable in each jurisdiction, and it is your responsibility to ensure that you comply with those regulations.

Age Requirements

Access to the Application, the Payments Button and the API is restricted to people over 14 years old. If a minor uses the platform, PAYPHONE reserves the right to request written authorization of the child's parents or legal representatives. This authorization must be submitted within a period of 5 business days from the request; otherwise, the child's account will be deactivated until this requirement is met.

Free and Voluntary Access

General access to the Application and the Website for merchants is free and free, except for the costs associated with specific transactions, which are detailed below. The User acknowledges that he uses the platform in a manner free and aware, assuming all responsibility derived from such use. PAYPHONE will not be responsible for the use that the User or third parties make of the platform, nor for any damages that may result from such use.

User Obligations

The User undertakes to use the Application, the Payment Button, the API and the Website in a manner adequate and lawful, in accordance with applicable law, these Terms of Use, morals, good manners and public order. By way of example, but not limited to, the User must refrain from:

• Store, in any medium or format, information from cardholders or other sensitive data entered in the PAYPHONE system.
• Make unauthorized or fraudulent uses of the platform.
• Access or attempt to access restricted or protected resources of the Application or Website.
• Use the platform for purposes that are unlawful, illegal or contrary to these Terms, good faith or public order, or that may harm the rights of third parties.
• Cause damage to the platform, the Website or the systems of suppliers or third parties.
• Introduce viruses, malware or other elements that may damage, disable or overload the platform or prevent its normal use.

Exclusive Use for Business Purposes

PAYPHONE offers its technology (Application, Payment Button and API) only with legitimate business purposes, in accordance with the purposes for which it was created. It is strictly prohibited to use the platform for purposes other than those specified, including, but not limited to, illegal, fraudulent or speculative activities. Any manipulation, modification, impersonation or abuse of the platform, without the prior written consent of PAYPHONE, will be considered a serious infringement, resulting in immediate deactivation of the User's account and giving rise to civil and criminal legal actions in accordance with applicable legislation. PAYPHONE is limited to providing software license services and does not process, offset or settle transactions or payments directly.

Liability for Inappropriate Use

Inappropriate use of the platform, including the system, the API, the Payment Button or the enabled libraries, will be exclusive responsibility of the User. From the moment of acceptance of these Terms, the User expressly waives filing any claim against PAYPHONE for the misuse of the platform or the information of credit cards obtained through developer libraries, if applicable.
All information handled by the User will be considered confidential and must be managed under technical parameters that guarantee its safety and the financial secrecy. If the User stores such information, they must have PCI-DSS certification; otherwise, you must permanently delete it without keeping records.

PAYPHONE reserves the exclusive right to cancel access to the system of any User who violates these Terms or violates rights of third parties, after verifying the violation. In addition, PAYPHONE may take legal action to stop any unauthorized or illegal use of the platform, as well as to protect the confidential information of the company and its users. In case of deactivation, the User will be notified electronically and it will have a deadline of 5 business days to withdraw any outstanding balance through established regular channels.

Description of the Service

The PAYPHONE service consists of a technological application that allows Users to connect to manage collections and payments efficiently. The User acknowledges that payments made through PAYPHONE They do not guarantee delivery of associated goods or services, since PAYPHONE acts solely as an independent third party that provides the technological platform.
Any transaction between parties (User and their peers or suppliers) is carried out under their own responsibility, exempting PAYPHONE from any direct relationship with such parties.

Integration with Third Parties

The PAYPHONE platform integrates services provided by third parties, such as Outsourcing Services S.A. (EXSERSA), a transactional services company duly qualified to operate in the market.
These services are provided under the sole responsibility of such third parties. The User, depending on the balance recorded in their digital wallet, can decide whether to use such funds to make payments or withdrawals, according to their convenience.
PAYPHONE does not intervene in the execution of these operations nor does it assume responsibility for their outcome.

User Responsibility for Transactions

The User accepts that all actions of payment or withdrawal of money are their own total responsibility. It also undertakes to maintain the confidentiality of your access codes, which should not be shared with unauthorized third parties.
PAYPHONE will not be responsible for the misuse of these keys or for the consequences derived from such use.

Legality of the Funds

The User declares that the origin and destination of the funds used through the platform are Licit and comply with current Ecuadorian regulations.
Any responsibility for payment to the bank that issued a registered credit or debit card lies solely with the User, exempting PAYPHONE of any obligation related to the use of the allocated quotas.

Card Registration

The User declares and accepts that the registration of a credit or debit card on the platform, and its subsequent verification, ensures that they are the holder of the card, a authorized additional cardholder, or that it has the express authorization of the owner to register it.
Any misuse of a registered card will be sole responsibility of the User.

Collection of Usage Data

The User expressly authorizes PAYPHONE to Gather information on the use and usage trends of the platform, for the purpose of analyzing these trends, ensuring the operation, operating and improving the products, platforms and services offered. In addition, PAYPHONE may use this information, without any recognition or compensation, to measure the quality of the service and, if necessary, implement improvements that provide greater and better functionality to the User.

Device Liability

The use of the device registered by the User to manage payments or collections through the Application is your full responsibility. This includes any device change that the User decides to do while using the platform.

Compatibility and Updates

It is the User's responsibility to ensure that downloaded the correct version of the Application on your device, as well as if properly installed the Payments Button and to use the transactional API correctly.
PAYPHONE will not be responsible if the User uses a device incompatible or download a version of the Application that is not compatible with your device.

PAYPHONE reserves the right to require the installation or update of any support or version of the platform to ensure its proper functioning.
The User is also responsible for obtaining the consent from your own users or customers for the use of the PAYPHONE platform, if applicable.

Standard Rates

The User accepts the following fees for the use of the platform, as detailed below:

Standard Commission: A fee of 5% for each amount received or Cash-in of money in any payment made with a credit card, debit card or cash recharge (does not apply to transactions between digital wallets). This commission is charged by Outsourcing Services S.A. (EXSERSA), as set out in these Terms.

Special Rates for Specific Segments

For certain market segments with particular characteristics, special rates will apply due to the associated risks and volumes:

• Sports Forecasting Segment: Customers operating in the sports forecasting segment will be subject to a special rate of 7% for each amount received or Cash-in, due to the high volatility and risks associated with this sector.
• Payment Aggregators: Payment aggregators, which manage high volumes of transactions and operate as intermediaries between multiple merchants, must pay a 3% additional fee on the total amount processed, reflecting the complexity and volume of the operations they carry out through the platform.

Payment Mechanics

The balance reflected in the User's digital wallet will be the amount paid minus the applicable commission (5% standard, 7% for sports forecasts, or the additional 3% for paid aggregators, as appropriate).
PAYPHONE will provide the User with the total amount reflected in the digital wallet at the time of retreat (Cash-out), without applying additional discounts.

Erroneous Accreditations

In the event of erroneous accreditations, the User authorizes PAYPHONE to carry out the necessary processes to carry out the corresponding reverses, ensuring that funds are returned to their source.

Payment Frequency

The final amount available for withdrawal (Cash-out) will be paid in a way weekly. However, the User acknowledges and accepts that PAYPHONE will have a additional period of seven (7) business days to make the payment in case of operational or technical complications.
In such cases, PAYPHONE will notify the User in advance of the need to use this additional period.

Delivery Costs and Receiving Banks

Any amount charged by the receiving bank during a withdrawal or Cash-out (such as bank fees or transfer costs) will be the sole responsibility of the depositary bank of the receiving account.
PAYPHONE He does not assume any responsibility for those costs.

Taxes and Sales Price

It is the User's sole responsibility to determine the sales price of your goods or services, as well as the collection and declaration of corresponding taxes.
PAYPHONE will not be responsible for declaring or paying taxes generated by the sale of goods or services managed through the platform. Each party will assume its own operating costs and expenses.

Transfer Management

In the event that the User requests the transfer of funds abroad, and unless expressly agreed in writing to the contrary, PAYPHONE will manage the necessary operations before the foreign exchange market intermediaries for the purchase of foreign currency, in accordance with applicable law. PAYPHONE will inform the User about the Applicable exchange rate to the transactions made.

Risks and Costs

The User agrees to assume in a manner exclusive to fiscal and exchange rate risk, as well as all costs associated with the transaction, including, but not limited to, the Tax on Financial Movements (GMF) And the Foreign Exchange Tax (ISD), when they apply. PAYPHONE will provide the User with copies of the documents to support the operation for your control and registration.

PCI-DSS standards

PAYPHONE is certified under the Payment Card Industry Data Security (PCI-DSS) standards, which guarantees the protection of cardholders' data. Any User, related third party, technological ally or supplier that stores, processes or transmits cardholder data must comply with these standards. The User undertakes to Do not store CVV2 information at any time. More information on PCI-DSS is available on the PCI Council website.

Certification Support

In the event that a regulation or participant requires that the User or a related third party be certified under PCI-DSS, the User Authorize PAYPHONE to provide support through your Declaration of Compliance (AoC) in force and to comply with the matrix of responsibilities established for technical certification. In addition, third parties grant their consent for PAYPHONE to carry out the necessary activities to validate compliance with PCI-DSS standards, if the certification process requires it.

Secure Data Transmission

The User will be responsible for adopting all the necessary measures to protect confidentiality and integrity of card transaction data, especially between your points of sale and your systems. Such data must be transmitted through secure lines and will be considered strictly confidential, being used only for the purposes authorized by the cardholder and in the relationship with PAYPHONE in accordance with these Terms.

User Obligations

The User undertakes to provide information truthful, sufficient and timely about your entity, partners, executives, business activity and number of transactions, in accordance with the rules of Brand Owners (Visa, Mastercard, etc.). In the case of reports that indicate breaches or observations, the User must develop a plan for rectify these irregularities, in accordance with the requirements of Brand Owners.

Security Scan

If the User's web servers participate in the transactional card flow, the User must perform a quarterly security scan using a tool ASV (Approved Scan Vendor) certified by an external entity. Each report must result in an approval status (“PASS”).

PAYPHONE Audits

The User authorizes PAYPHONE to examine, review and audit, at the User's expense, compliance with PCI-DSS standards. These audits may include periodic reviews of documentation, visits to the User's premises, inspection of equipment and answers to questionnaires. Revisions will be carried out on business days and hours, with at least 48 hours' notice, and may be executed by PAYPHONE personnel or designated third parties.

Notification of Breach

If the User detects that he himself or his related third parties do not comply with PCI-DSS standards, or if the security of card data is compromised (or there is a risk of it), you must immediately notify PAYPHONE in writing, detailing the non-compliance, the risk and the proposed remedial measures, including specific deadlines for correction.

Consequences of Non-Compliance

Failure to comply with the provisions of PCI-DSS empowers PAYPHONE to:
(i) suspend services until the breach is corrected;
(ii) unilaterally terminate the contract without liability for PAYPHONE.
In addition, the User must reimburse PAYPHONE and cardholders for any expenses, damages or losses resulting from non-compliance, including fines or additional costs that PAYPHONE must assume before authorities or participants.

Linked Third Parties

The User will be responsible for ensuring that their related third parties comply with these provisions, assuming the consequences of any breach by such third parties. If the User contracts with a third party to store, process or transmit card data, they must ensure that such third party comply with the same security controls required by PAYPHONE and PCI-DSS standards, informing PAYPHONE about such compliance.

Regulatory Compliance

PAYPHONE is committed to complying with the Ecuador's Organic Data Protection Act And the General Data Protection Regulation (GDPR) of the European Union.
You will not use User data without your unequivocal, free, specific and informed consent, obtained through a written statement or affirmative action, such as electronic signature recommended by GT29.

User Consent

By accepting these Terms, the User Give express authorization for the processing of your personal data, in accordance with Article 29 of the Regulations to the LOPDP and the PAYPHONE's internal data protection manual.
Consent is considered free, specific and informed, the User having been informed of the purposes of the treatment.

Purpose of the Treatment

The User's data will be used only for market analysis, improved performance of the platform and compliance with legal obligations.
PAYPHONE will keep this information in a manner confidential for a period of 10 years, after which it will be destroyed and disposed of in a safe manner.

User Responsibility

The User is responsible for the custody of their keys, passwords and users, as well as to ensure the safety of software and hardware of the devices from which you access the platform.
PAYPHONE will not be responsible for security flaws resulting from the User's negligence in this regard.

Specific Purposes of the Treatment

PAYPHONE may process the User's personal data for the following purposes:

• Identify the User in the Application and in remote services using electronic communication means.
• Validate and verify data when the User accesses from other applications, mobile devices or digital channels.
• Comply with the contractual relationship derived from the request and use of PAYPHONE products and services.
• Apply measures to prevent, detect and eradicate crimes such as money laundering And the Financing of terrorism, and report to the competent authorities.
• Perform statistical analysis about the use of the Application and remote services, including SMS, internet, television, websites and other channels.
• Maximize security of channels and applications, analyzing possible fraud or impersonation.

Data Retention

The data collected by PAYPHONE will be kept for the deadline provided for by the applicable regulations, ensuring their confidentiality and security through appropriate technical and organizational measures.

Third-Party Data Processing

The personal data of third parties that PAYPHONE receives from the User will be processed only for the purposes of accessing and using the Application, and will not be communicated to third parties unless strictly necessary for the provision of the service or at the request of a legally authorized authority.
PAYPHONE will maintain the confidentiality of such data and will implement the security measures required by law.

User Data

The User, as the owner of their data, has the right to:

• Know, update and rectify your information
• Request proof of the authorization granted
• Be informed about the use of your data
• File complaints with the authorities
• Revoke your authorization or request the deletion of your data where appropriate
• Access them for free

Recognition of Rights

The User acknowledges that the brands, software and other materials used by PAYPHONE (hereinafter,”PAYPHONE Intellectual Property”) are propriety exclusive to PAYPHONE or its licensors, and they are protected through intellectual property laws, including copyrights, trademarks and trade secrets. This includes, but is not limited to, the Application, the Payment Button, the API, logos and associated graphics.

User Rights

PAYPHONE recognizes that any content, data or information provided by the User (hereinafter,”Intellectual Property of the User”) are your exclusive property. This includes transaction data, informations personal and any material uploaded by the User to the platform.

Mutual Commitment

Both parties are committed to respecting each other's intellectual property rights. The User may not copy, modify, reproduce, distribute, sell, license or exploit in any way the PAYPHONE Intellectual Property without written authorization. PAYPHONE, in turn, will not use or Will modify the User's Intellectual Property without their consent, except as necessary to provide services in accordance with these Terms.

Protection and Notification

Both parties will take reasonable steps to protect the Intellectual property on the other, including the implementation of security measures to prevent unauthorized access. If a violation is detected, the affected party will be notified immediately, and both will cooperate to remedy the situation.

Consequences of Violations

The violation of this clause constitutes a material breach of these Terms, granting the affected party the right to immediately terminate the agreement and seek available legal or equitable relief. The User undertakes not to modify, alter, transfer, distribute or perform actions that seek to obtain personal benefits or commit illegal acts through the misuse of the PAYPHONE Intellectual Property.

PAYPHONE role

PAYPHONE GLOBAL INC., as an intermediary between the payer and the receiver of goods or services, does not assume direct responsibility for chargebacks, bank alerts, claims or suspicion of fraud. In the case of a chargeback, the User or merchant must provide, within a period of 10 business days, sufficient evidence to demonstrate the legitimacy of the transaction.

Consequences of Lack of Evidence

If the User does not submit the required evidence within the stipulated period, the amount of chargeback will be debited from future transactions processed through the platform. The costs of infrastructure, connectivity or any other necessary to ensure the operability of the software will be the sole responsibility of the User or business.

Additional Information

Las PAYPHONE Chargeback Policies, available on the website and the application, form an integral part of service contracts with all Users, businesses and customers. These policies detail the procedures for managing chargebacks and claims, and should be reviewed by the User for a full understanding.

Exemption from Liability

PAYPHONE GLOBAL INC. you will not be responsible for chargebacks or claims arising from fraudulent transactions, errors in the delivery of products or services, or misuse of the platform. Registered Users and businesses assume all responsibility for controversies related to their transactions, including chargebacks, fraud or disputes that arise up to 365 days after the original transaction.

Limitation of Liability

PAYPHONE does not guarantee the availability or continuity of the operation of the Application or the Website, subject to what is established in its Service Level Agreement (SLA). Consequently, PAYPHONE will not be responsible for damages resulting from:

• Lack of availability or accessibility to the Application or Website.
• Interruptions, computer failures, telephone breakdowns, disconnections, delays or blockages caused by deficiencies in telephone lines, data centers, Internet systems or other electronic systems.
• Damages caused by unauthorized intrusions by third parties, beyond the control of PAYPHONE.

Indemnity

By accepting these Terms, the User declares that they will hold PAYPHONE, its parent company, directors, partners, employees, lawyers and agents harmless from any claim arising from:

• Breach of these Terms or any applicable law.
• Unpermitted use of the Application or Website.
• Damages suffered by the User or third parties as a result of direct or indirect use of the platform.

Indirect Damages

PAYPHONE will not be responsible for indirect or consequential damages, including, but not limited to, loss of profits, loss of data, business interruption, or any other business loss resulting from the use or inability to use the platform or services remotely, regardless of the cause.

Proper Use

The User undertakes to make a use suited and Licit of the PAYPHONE platform, including but not limited to the following prohibitions:

• Do not make acts of provision, free or expensive, of the platform to third parties without written authorization from PAYPHONE.
• Do not use the platform for illegal purposes or illegal activities.
• Do not manipulate, scan, or test system vulnerabilities, or circumvent security or authentication measures.
• Do not falsify, manipulate or alter information in emails, publications or any other medium, or use the platform to send misleading or false information.
• Do not interrupt the access of other users through viruses, spam, malicious encryption or other means that interfere with the normal use of the platform.
• Do not use the platform contrary to good faith or current legislation.

Consequences of Non-Compliance

Failure to comply with these prohibitions will be considered a violation severe, empowering PAYPHONE to deactivate the User's account and take appropriate legal action to protect its interests and those of other users.

Scope of the Audit

PAYPHONE reserves the right to audit the User, either directly with its staff, through independent auditors or at the request of a competent authority. These audits may include access to the User's facilities, personnel, information and relevant records, with the purpose of verifying compliance with these Terms, the rules of Brand Owners and applicable legislation, especially with regard to the prevention of money laundering and terrorist financing (PLA/FT).

Audit Procedures

Audits may include:

• Review of information related to the service contract and applicable regulations.
• Evaluation of the procedures of Know Your Customer (KYC) implemented by the User and their related third parties.
• Analysis of the User's risk and fraud prevention processes.

Notification and Access

Audits will be carried out on business days and hours, with prior notice of at least 48 hours. The User undertakes to provide access to the information and resources necessary to carry out the audit, fully cooperating with PAYPHONE or the designated auditors.

Credit Information Inquiry

The User expressly and irrevocably authorizes PAYPHONE to consult and report to any credit information office, information source or risk center all information regarding their behavior Credit, management of bank accounts, credit cards and, in general, any data related to the fulfillment of their obligations, assets, liabilities, overdue debts or misuse of services. This information will be reflected in the corresponding databases, in accordance with the expiration periods established by law.

Use of Information

PAYPHONE, its administrators, representatives and employees are authorized to use this information to analyze credit risks and, if necessary, transfer it to the competent authorities. The User's compliance or non-compliance with their financial obligations will be recorded and updated as they make the corresponding payments.

Use of Data for Services

The User also authorizes PAYPHONE to collect, store and use their data for purposes related to the provision of services, including communications, training, monitoring, inspections, audits, complaint management and onboarding processes, as well as to share information with participants when necessary.

Rights of the Data Subject

The User, as the owner of their information, has the right to know, update and rectify their data, request proof of the authorization granted, be informed about their use, file complaints with the authorities, revoke the authorization or request the deletion of their data when appropriate, and access them free of charge.

Use of User Identity

The User authorizes PAYPHONE to identify him as a customer by any means, including the use of his Trademark, domain name, name or company name in advertising, promotional or marketing materials.

Success Stories

The User authorizes the use of their company information and their logo in successful cases developed together with PAYPHONE. Such use will be notified in advance to the User's communications team, who may express their approval or suggestions before publication.

Labor Dependency

The User declares that the persons assigned to comply with this instrument are under their Dependence at work, assuming all the responsibilities established by the Labor Code and other applicable regulations regarding employment obligations, social security, and occupational safety and health. PAYPHONE does not assume any labor or social security responsibility with these people.

Compensation for Workers' Claims

The parties agree that the responsibility for work, social security and compliance with occupational safety and health regulations lies exclusively with the User. In the event that a labor claim is filed that directly or indirectly affects PAYPHONE, the User will assume the Total defense of said claim at your expense, reimbursing PAYPHONE for any expenses incurred in its defense if the User does not act in a timely manner. The User will also be responsible for paying any compensation or sanction ordered by judgment, settlement agreement or other mechanism.

PAYPHONE Commitment

PAYPHONE is committed to preventing the use of its platform for illegal activities, including money laundering and terrorist financing. To do this, implement a comprehensive plan that includes procedures for Know Your Customer (KYC) and strict security protocols.

KYC Policy

PAYPHONE employs exhaustive procedures of KYC to verify the identity of its users, collecting information such as name, address, date of birth, official identification documents and other data necessary to comply with applicable regulations.

Security Protocols

PAYPHONE uses advanced encryption technologies, continuous monitoring systems and regular audits to protect user information and ensure the integrity of transactions, mitigating money laundering risks.

Monitoring and Reporting

PAYPHONE continuously monitors transactions for suspicious activity. Any activity identified as suspicious will be investigated and, if necessary, reported to competent authorities in accordance with applicable laws.

Collaboration with Authorities

PAYPHONE will fully collaborate with regulatory and compliance authorities in the fight against money laundering, providing information and documents required as part of investigations.

Staff Training

PAYPHONE provides ongoing training to its employees on money laundering prevention, KYC policies and security protocols, ensuring that staff are prepared to identify and manage risks.

Consequences of Non-Compliance

Any user involved in activities related to money laundering will be suspended or expelled from the platform, and PAYPHONE will take the necessary legal measures to protect their integrity and comply with regulations.

User Commitment

By accepting these Terms, the User undertakes to comply with the requests for information and documentation that PAYPHONE requires for the prevention of money laundering, ensuring that its operations are lawful and transparent.

User Statements

The User, by accepting these Terms, declares that:

• Its legal representatives, administrators and employees comply with current regulations on anti-corruption, illicit enrichment and the prevention of money laundering.
• Your legal representatives, administrators and employees do not incur or accept bribes or Fines, neither for their benefit nor for the benefit of third parties.
• It has an accounting system that makes it possible to clearly identify all payments, contributions, gifts, representation expenses, hospitality, donations and contributions to non-profit, public, private or guild entities, with the corresponding documentary support.

User Commitments

The User undertakes to:

• Ensure that your legal representatives, administrators and employees comply with regulations anti-corruption current.
• Keep a transparent and verifiable record of all your financial transactions, avoiding any practice that could be considered Corrupt or unlawful.

Consequences of Non-Compliance

Failure to comply with these provisions will be considered a violation severe, empowering PAYPHONE to take legal action and terminate the agreement with the User, without prejudice to any sanctions imposed by the competent authorities.

Guarantees for Sports Forecasts and Pay Aggregators

Given the high risk and volume associated with certain market segments, the following special conditions are established:

• Sports Forecasting Segment: Customers operating in this segment must provide a warranty equivalent to 10% of your average monthly transaction volume, as a security deposit. This deposit will be held in an account designated by PAYPHONE and will be refundable at the end of the contract, after deduction of any outstanding amount.
• Payment Aggregators: Payment aggregators must provide an additional guarantee of 5% of their average monthly trading volume, to cover risks associated with managing multiple businesses. This warranty will also be refundable at the end of the contract, subject to the same conditions.

Warranty Review

The guarantees will be reviewed quarterly to adjust them to the User's transactional volume. PAYPHONE will notify the User with 15 days in advance if an adjustment in the amount of the guarantee is required, allowing the User to comply with the new requirement within a period of 10 business days.

Use of Warranties

The guarantees may be used by PAYPHONE to cover chargebacks, fines, or any other amount owed by the User resulting from breaches or fraudulent transactions. The User will be notified of the use of the guarantee and must replace the amount used within a period of 15 business days.

Validity

These Terms of Use are effective indefinitely, starting from the date of electronic acceptance by the User and PAYPHONE. Any update to the Terms will be notified to the User electronically with 2 days in advance and will be available at the link mentioned above.

Termination

The agreement may be terminated early by either party, at any time and without any liability, by written notification. In case of termination, the User must withdraw any outstanding balance through established regular channels within a period of 10 business days. PAYPHONE will not be responsible for balances not withdrawn after this deadline.

When you click “Accept”, the User declares to have read, understood and fully accepted these Terms of Use in all their parts. It also guarantees that the information provided during the registration and authentication process is true and lawful, exempting PAYPHONE from any responsibility in this regard.

The User undertakes to comply with all legal regulations of the Republic of Ecuador and the jurisdictions applicable to the use of the PAYPHONE platform.

Notifications

Any notification related to these Terms will be made electronically through the official PAYPHONE channels, using the contact information provided by the User during registration.

By signing up for PAYPHONE in the United States, you agree to receive SMS messages related to your account, security alerts and transactions. Message and data rates may apply. Reply STOP to cancel the subscription. Answer HELP for help.

Applicable Law and Jurisdiction

These Terms are governed by the laws of the Republic of Ecuador. Any dispute arising from its interpretation or execution will be submitted to the competent courts of the city of Quito, Ecuador, the parties waiving any other jurisdiction that may apply to them.

Contact

For questions or additional information, the User can contact PAYPHONE customer service at [+593] 858686066, or through the official channels available on Google Play and the App Store.

IF YOU DO NOT AGREE WITH THESE TERMS AND CONDITIONS DO NOT USE PAYPHONE