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Terms of Use

Please review these Terms of Use (referred to as the “Terms”) thoroughly before utilizing any services offered by Paytower. This includes, but is not limited to, the Paytower website (https://paytower.com/) and mobile application (referred to as the “App”).

If you do not agree with these Terms, you are not permitted to access or use the Website or any Services provided on the Website. All information and Services provided on the Website are strictly provided “as-is” without any warranties whatsoever.

If you disagree with the terms and conditions outlined below, please exit the Website and refrain from creating an Account. Otherwise, you assume all risks and responsibilities associated with holding and transacting in Virtual Currency, despite the warnings provided by us.

1. Definitions and Terminology

1.1 Account – a personal account created by you on the Website to access Services

1.2 AML Policy – rules governing conduct aimed at preventing money laundering and terrorism financing, established by the Company in accordance with Applicable Law. 

1.3 Paytower (also referred to as the “Platform”) – an online platform operated by the Company, offering Services such as Virtual Currency wallet services, Virtual Currency exchanges, and other services outlined in Section 3 of the Terms.

1.4 Deposit – a transaction involving the transfer of units of Virtual Currency from external wallets to your Account.

1.5 Exchange – a transaction involving the exchange of Virtual Currency for fiat currency or vice versa, or the exchange of Virtual Currency for another Virtual Currency conducted through the Account.

1.6 Exchange Rate – the correlation of value between assets in trading pairs, determined by factors such as demand, supply, value, utility, and other economic variables.

1.7 Fee – commission or other charges levied by the Company for the use of Services.

1.8 Privacy Policy – rules governing the collection, storage, and use of personal data, established by the Company in accordance with Applicable Law. 

1.9 Services – any services provided on the Platform by the Company, as outlined in Section 3 of the Terms.

1.10 User (also referred to as “You“, “Your“) – an individual (physical person) or legal entity incorporated in an appropriate legal form, who has opened an Account on the Website, possesses the capacity to enter into a legally binding contract, and is not prohibited by Applicable Law or any other relevant laws from using the Website or Services.

1.11 Virtual Currency – a decentralized peer-to-peer digital asset with no central issuer, not recognized as legal tender, securities, e-money, or money under Applicable Law.

1.12 Virtual Currency Merchant – a third-party provider of goods and/or services supporting payments in Virtual Currencies through the User’s Account on the Platform.

1.13 Website – an internet website maintained and owned by the Company at https://paytower.com/.

1.14 Withdrawal – a transaction involving the transfer of units of Virtual Currency from your Account to external wallets

2.Terms of Use Status and Acceptance

2.1 These Terms constitute a legally binding agreement between you and the Company.

2.2 These Terms apply to all Services, information, texts, and other products offered on the Website by the Company.

2.3 By accessing the Website, opening an Account on the Website, or checking the “I agree to the Terms of Use and Privacy Policy” checkbox, you consent to be bound by these Terms. You confirm that you have read, understood, and accepted all provisions of these Terms, as well as the provisions of our Privacy Policy, AML Policy, and any other legally binding document publicly available on the Website.

2.4 You may not use the Website or create an Account unless you have read, understood, and accepted all provisions of these Terms.

2.5 The Company reserves the right to change, remove, or add to the content of the Terms at its sole discretion. All new and/or revised provisions of the Terms take effect immediately and apply to your use of the Website, the Account, and the Services from that date forward. Please check these Terms regularly to stay informed of all current provisions.

2.6 The Company may notify you of significant changes to these Terms by posting a notification on the Website or sending you an email (if appropriate).

2.7 You can access the most current version of the Terms using the “Terms of Use” link. If you continue to use the Website after the Company makes changes to the Terms, you expressly acknowledge your acceptance of the new and/or revised Terms.

2.8 These Terms, along with our Privacy Policy and AML Policy, as well as any notices, policies, warnings, and disclaimers, constitute the entire agreement between you and the Company.

3. Services

3.1 The Company offers various services on the Website (referred to collectively as “Services” and individually as “Service”), including but not limited to:

  • Provides statistics on merchant payment acceptance.
  • Provides information on payment methods.
  • Provides technical information necessary for integrating merchant services with payment methods in order to accept payments using all available methods.
  • Exchanging units of Virtual Currency for units of another Virtual Currency or fiat money.
  • Providing Virtual Currency wallet services.
  • Facilitating the deposit and withdrawal of units of Virtual Currency on the Platform.

3.2 When providing a Service for exchanging Virtual Currency units, the Company utilizes the prevailing spot market exchange rate for the relevant trading pair (e.g., BTC/EUR). You acknowledge and agree that while the displayed prices on our Platform may consider market data from various sources, they are not directly sourced from any single provider, and therefore may differ from prices observed elsewhere (including prices quoted on other exchanges, conversion services, and market data providers).

3.3 By offering a wallet Service, the Company furnishes you with a digitally secured wallet for Virtual Currencies, designed for exchanging, storing, and withdrawing units of Virtual Currencies, and securely manages your private keys for these purposes.

3.4 To access the Services outlined in Sections 3.2-3.3 of the Terms, you must deposit units of Virtual Currencies on the Platform.

3.5 Deposits and withdrawals are executed in accordance with Section 9 of the Terms.

3.6 The Company retains the right, at its sole discretion, to disable access to the Website, the Account, specific Services, or all Services altogether at any time.

3.7 Services are exclusively provided for Virtual Currencies supported by the Platform. It is your responsibility to regularly check the Website to ascertain which Virtual Currencies are supported. You should refrain from attempting to deposit Virtual Currencies not supported by the Platform into your Account.

3.8 The Company securely stores all keys associated with your Virtual Currency holdings on the Account.

3.9 The provision of Services may experience delays due to various factors, including technical issues, reasonable concerns about the nature or source of funds deposited on the Platform, conducting AML/KYC checks as outlined in the AML Policy, etc.

3.10 Additionally, the Company may furnish you with an aggregated nominal value of all your assets, denominated in EUR, BTC, or any other currency or Virtual Currency based on their current exchange rate

3.11 The maximum payment threshold that can be remitted to the Virtual Currency Merchant from your Account will be determined by the Virtual Currency Merchant. It is strongly recommended that you review their policies, terms of service, and/or communicate with them to familiarize yourself with the maximum payment threshold.

3.12 Within the maximum payment threshold, you have the option to manually set transaction limits for payments per day, month, or year using your Account settings.

4. User’s Eligibility

4.1 In order to utilize the Services, you are required to complete a registration process on the Website to establish an Account.

4.2 The Services and the Website usage are accessible to individuals or legal entities that:

  • Are of at least 18 years of age (for individuals).
  • Have the legal capacity to enter into a binding contract and utilize the Website, and are not prohibited by the Applicable Law or any other applicable laws from doing so and utilizing the Services.
  • Are residents or incorporated in countries and territories supported by us.

4.3 Each user is permitted to maintain only one Account on the Website. Creating multiple Accounts on the Website is prohibited unless explicitly authorized by the Company.

4.4 Individuals are ineligible to create an Account on the Website if their previous Account has been suspended by the Company.

5. Personal Account

5.1 By creating an Account on the Website, you affirm that all information provided by you is accurate, valid, current, and complete.

5.2 Your Account must not be used for unlawful purposes, including but not limited to money laundering, financing terrorism, human trafficking, drug trafficking, arms trafficking, sex trafficking, or tax evasion.

5.3 You are prohibited from creating an Account on behalf of another individual or entity unless you are legally authorized to do so.

5.4 It is your responsibility to maintain the security of your Account. You must not share your login credentials, password, or any other access information with any third party.

5.5  If you suspect any unauthorized access or security breach related to your Account, you must immediately inform the Company by contacting us at sales@paytower.com or partners@paytower.com 

5.6 The Company reserves the right to suspend your Account without prior notice or explanation in the event of any violation of these Terms.

6. Registration Requirements

6.1 To access the Services provided on the Website, you must provide certain information and documents and undergo a verification process. Further details are available in the AML Policy.

6.2 The Company may request additional documents or updated information from you at any time, at its sole discretion. Failure to comply with these requests may result in temporary or permanent suspension of Services and/or Account.

6.3 You are solely responsible for the accuracy and validity of all information and documentation submitted to the Company. If there are any errors or changes in the submitted information or documents, you must promptly notify the Company.

6.4 All information and documents provided by you are processed in accordance with our Privacy Policy.

7. User Conduct

By accessing or using the Website and Services, you agree to the following:

  • You will not violate these Terms or any Applicable Law, including international and national laws, regulations, and statutes.
  • You will provide accurate, truthful, complete, and non-misleading information to the Company.
  • You will not infringe upon the intellectual property rights (including trademarks, copyrights, and patents) of the Company.
  • You will not engage in any activity that could harm, disable, or overload the Website, such as uploading viruses or other malicious code, conducting DDoS attacks, or disrupting network connections.
  • You will not attempt to access the Website, other Users’ Accounts, or computer systems or networks without authorization, nor will you extract data from the Website.
  • You will not share your Account or password with third parties, nor will you use another person’s Account or password.
  • You will not impersonate or falsely represent your association with another User, individual, or entity, nor will you engage in fraudulent, deceptive, or misleading conduct.
  • You will comply with all applicable laws regarding the use of Virtual Currency in your jurisdiction.
  • You will not violate these Terms or the Applicable Law in any other manner.

8. Account Closing & Suspension

8.1 You have the option to close your Account at your discretion.

8.2 Prior to closing your Account, you must withdraw all your assets to external wallets.

8.3 The Company reserves the right to suspend your Account under the following circumstances:

  • If we reasonably suspect that your Account has been compromised or for any other security-related reasons.
  • If we have reasonable grounds to believe that your Account is being accessed without proper authorization.
  • If you fail to adhere to these Terms or any other related documents.
  • If you provide us with false, incomplete, misleading, or inaccurate information.
  • If your actions, your Account, or your behavior pose regulatory risks to the Company.
  • If we reasonably suspect you of fraudulent activities or violating applicable laws.
  • For any other reasons that constitute a breach of these Terms or the Applicable Law.

8.4 While the Company may choose to notify you of the reasons for suspending your Account, it is not obligated to do so. Any remaining assets in your Account will be transferred to wallets designated by you to the Company’s customer support.

8.5 Even in the event of Account closure or suspension, you remain responsible for any applicable Fees.

8.6 The Company is not responsible for any losses incurred as a result of the closure or suspension of your Account.

9. Deposits and Withdrawals

9.1 Prior to utilizing the Services, you are required to deposit units of Virtual Currency into your Account by adhering to the Deposit instructions available on your Account page. It is essential to carefully review the Deposit instructions before proceeding.

9.2 You retain the authority to withdraw units of Virtual Currency from your Account at any time, subject to Account transaction limits and any temporary or permanent restrictions imposed during internal investigations or by legal mandates (e.g., court orders).

9.3 Withdrawals of Virtual Currency can be made in any amount, provided there are sufficient Virtual Currency units available to cover the applicable Fees.

9.4 Each Withdrawal of Virtual Currency is subject to a mining fee imposed by the relevant blockchain network. While we strive to maintain a balance between reasonable fees and processing speed when submitting your transaction to the blockchain, we reserve the right to determine the precise amount of the mining fee at our discretion. 

9.5 The Company bears no responsibility for the transfer of your Virtual Currency units to other wallets. You are solely responsible for the accuracy of the information required to execute a Withdrawal (e.g., addresses, tags, and any other necessary credentials). It is strongly advised to verify the accuracy of the provided information for Withdrawal purposes.

9.6 It is imperative to recognize that blockchain transactions are irreversible. Therefore, once a transaction has been initiated and transmitted to the blockchain network at your request (in the case of Withdrawals), it cannot be reversed under any circumstances.

10. Fees

10.1 The Platform operates on an automated Fee-charging basis for the Services, and the Company does not issue invoices. Prior to executing a given transaction, you will be presented with the applicable Fees.

10.2 The Company retains the right to modify the Fee structure at any time (including the addition of new fees for new Services) at its sole discretion. You will be informed of any changes to the Fee structure. Notification may occur through posting on the Website or via email (if applicable).

10.3 Fees are settled in the Virtual Currency corresponding to the respective Service.

10.4 Fees are due upon the completion of each transaction.

11. Settlements, Cancellations, and Refunds

11.1 Upon depositing, withdrawing, or exchanging units of Virtual Currencies for another Virtual Currency or fiat money, the corresponding assets will be debited from and credited to your Account accordingly.

11.2 Once your order to exchange Virtual Currency has been executed, it cannot be canceled or reversed. Exchanges are deemed final, and no refunds are provided.

11.3 The Company reserves the right to cancel an order to exchange Virtual Currency in the event of a technical malfunction of the Platform.

12. Minimum Withdrawal Amounts and the Refund Fees

Overall description of Refunds

When processing a refund for an invoice, the transaction itself, referred to as the refund, is technically treated as a withdrawal. Like any withdrawal processed by Paytower, it is subject to a processing fee.

12.1 A refund for the invoice is initiated if the invoice is:

  • Underpaid
  • Overpaid

12.2 The refund is then issued if the underpaid or overpaid amount of the invoice:

  • Exceeds the refund processing fee
  • Exceeds the minimum withdrawal amount

13. Content

13.1 The Company has the right to create and present content (referred to as the “Content”) on the Website, which may include information, text, images, videos, and audio files.

13.2 The Content provided on the Website does not serve as investment advice, financial advice, trading advice, or any other type of advice unless explicitly stated otherwise. It should not be interpreted as such. The Company bears no responsibility for any actions taken based on its Content.

14. Intellectual Property

14.1 The Company exclusively owns all elements and content on the Website, including but not limited to text, images, videos, and the Website itself. These are safeguarded by various forms of intellectual property rights, such as copyright, trademarks, and trade secrets. All rights are reserved.

14.2 Without prior written consent from the Company, you are prohibited from reproducing, reprinting, publishing, modifying, distributing, displaying, transmitting, licensing, transferring, or otherwise exploiting any content or technology from the Website.

14.3 Any infringement upon the Company’s intellectual property rights is strictly forbidden.

15. Links to Third-Party Websites

15.1 The Website might include hyperlinks to third-party websites or services that are not under the ownership or management of the Company.

15.2 The Company disclaims any authority over, and bears no responsibility for, the content, privacy policies, or practices of these third-party websites or services. The Company cannot be held accountable or liable, either directly or indirectly, for any damages or losses incurred or alleged to be incurred as a result of using or relying on the content, goods, or services provided by or through such websites or services.

15.3 Further details can be found in the public policies of these respective entities.

16. Confidentiality and Privacy Policy

16.1 Any personal data you furnish to the Company, inclusive of data provided in alignment with our AML Policy and any information pertaining to your usage of the Website gathered by the Company, will be governed by our Privacy Policy.

16.2 The Company may have an obligation to divulge your personal data to law enforcement agencies, data protection authorities, financial regulatory bodies, financial service providers, government bodies and officials, and other authorized entities, as delineated in the Privacy Policy.

16.3 Should the Company suspect your contravention of the AML Policy, such conduct will be reported, and pertinent personal data will be disclosed to the requisite authorities in accordance with the Applicable Law.

17. Disclaimers and Limitations of Liability

17.1 Both the Company and you are accountable for the non-performance or inadequate performance of their obligations under these Terms, as stipulated herein and by the Applicable Law, unless otherwise specified herein.

17.2 The Website, Content, and Services are provided without any guarantees, conditions, or warranties regarding their accuracy, quality, or suitability for a specific purpose. The Company does not assure that the Website and Services are error-free, reliable, or will function without interruptions.

17.3 The Website is provided to you on an “AS-IS” basis.

17.4 The Company does not assure the acceptance, execution, or recording of any exchange requests.

17.5 The Company disclaims liability for the utilization or incapacity to use the Website and Services.

17.6 In no event shall the Company, its officers, directors, employees, agents, or third-party service providers be liable for any direct, indirect, incidental, special, punitive, or consequential damages resulting from various factors, including but not limited to, inaccuracies in website content, interruptions in service, unauthorized access to user accounts, errors in cryptocurrency transactions, changes in regulatory frameworks, or fluctuations in cryptocurrency values.

17.7 The Company is not liable for any legal actions arising from the use of blockchain and Virtual Currency if such use is prohibited or restricted in your jurisdiction.

17.8 The Company and its representatives do not provide investment, financial, trading, or legal advice.

17.9 To the extent permitted by Applicable Law, you agree to indemnify and hold harmless the Company from any claims, damages, losses, liabilities, costs, or expenses arising from your use of the Website and Services, violation of these Terms, or violation of any Applicable Law.

17.10 In the event of force majeure circumstances beyond the Parties’ control, such as natural disasters, government regulations, or power failures, that prevent the fulfillment of obligations under these Terms, the deadline for such obligations shall be extended for the duration of the force majeure event.

18. Announcements

18.1 The Company reserves the right to periodically publish official announcements, news, notices, etc. (referred to as “Announcements”) on the Website. The Company shall not be held liable for any losses resulting from your failure to acknowledge or heed the Announcements.

19. Applicable Law and Dispute Resolution

19.1 In case of any disagreements between you and the Company during the term of these Terms, both parties will make efforts to resolve them through negotiations.

19.2 If no agreement is reached on the dispute within 30 (thirty) calendar days, the matter will be escalated to the competent court as determined by the Applicable Law.

20. Final Provisions

20.1 These Terms will remain effective until terminated by either you or the Company. The Company reserves the right to terminate these Terms at its discretion without providing reasons for such termination.

20.2 Any matters not addressed by these Terms will be governed by the Applicable Law.

20.3 These Terms constitute a legally binding agreement and, along with its accompanying integral parts, represent the entire agreement between you and the Company.

20.4 In the event that the Website is available in multiple languages, the English version of the Terms will take precedence.

20.5 All provisions of these Terms that apply to the Website also extend to other means of providing Services, including the App, unless explicitly stated otherwise.

20.6 If you have any comments, questions, or complaints, please contact us at sales@paytower.com or partners@paytower.com