Terms of Use for NoroPay Services

Last Updated: 14-01-2025

This Agreement sets out the terms and conditions for the electronic currency sale and purchase services provided by NoroPay. By using the services of NoroPay, you fully accept this Agreement. If you do not agree with any part of this Agreement, you must not use our services or perform any transactions.

Important Disclaimer: Electronic money accounts are not bank accounts. By accepting these Terms of Use, you acknowledge that the Dutch Deposit Guarantee Scheme does not apply to your NoroPay Account. In the unlikely event that we become insolvent, you may lose the electronic money held in your NoroPay Account. However, we are regulated under the European Communities (Electronic Money) Regulations 2011, which are designed to ensure the safety and liquidity of funds deposited in electronic money accounts.

1. Opening Your NoroPay Account

1.1. To use our payment services, you must first open a NoroPay Account by registering on our Website. During signup, you must accept these Terms of Use and our Privacy Notice and have the legal capacity to do so. Additional terms may apply if you use other services.

1.2. If you are an individual, you must be 18 years or older. By opening an account, you confirm this. We may request proof of your age at any time.

1.3. You may only open one NoroPay Account unless we explicitly approve additional accounts.

1.4. All information you provide during signup or thereafter must be accurate and truthful. If you fail to provide required information or cooperate with our requests within three (3) months of opening your account (or any later deadline we notify you of), we may charge an administration fee as displayed on our Website.

1.5. You may only add Payment Methods to your NoroPay Account if you are the named holder of that method. Any violation will be treated as a fraudulent act.

1.6. If you intend to use your NoroPay Account for commercial purposes, you must inform us, even if you also use it privately. If you initially registered for private use only, you must contact Customer Service immediately before any commercial use. Commercial use includes receiving payments for any business activity. We reserve the right to determine, in our reasonable opinion, whether your use is commercial. If you use your account commercially, you will also be bound by our Merchant Terms and Conditions. If in doubt, contact Customer Service.

1.7. You may close your NoroPay Account at no cost within 14 days of opening by contacting Customer Service. However, if you have uploaded funds, you may need to provide identification before withdrawing them. Transactions and fees incurred before account closure (including initiated but incomplete transactions) will not be refunded.

2. Uploading Funds to Your Wallet

2.1. You can upload funds by logging into your NoroPay account and following the upload instructions. Available upload methods depend on the Payment Methods linked to your account and your country of residence. These methods are provided by third-party financial institutions and are not part of our service. We do not guarantee any particular method and may change or discontinue methods at any time without prior notice. We are not responsible for the payment until we have received the funds. Uploads are subject to fees, including currency conversion fees.

2.2. Uploads may be subject to dynamic limits based on security, legal requirements, and your verification status. Your upload limits may be higher than your withdrawal or spending limits.

2.3. To send a payment, the recipient must be a registered user with a valid means of identification (usually an email address, but may vary by service).

2.4. You must take great care to enter the recipient's identification details accurately. We use these details as the unique identifier for the transaction. We are not liable for any errors you make when entering this information.

2.5. If the recipient's email address is registered, funds are credited instantly, and the transaction becomes irreversible.

2.6. If the recipient's email is not registered, we will send a notification with instructions to claim the payment. If unclaimed within 14 days, the transaction is cancelled, and funds are returned to you. You may also cancel the transaction yourself before the funds are credited by selecting "Cancel" in your transaction history.

2.7. When you send or receive a payment, we will disclose your registered account name to the other party to process the transaction. This information may also appear in notifications.

2.8. You must not upload funds using a Payment Method for which you are not the named holder. Any such attempt will be treated as a fraudulent act.

2.9. If you upload funds using a method subject to chargeback (e.g., credit/debit card, direct debit), you declare you will only exercise this right for unauthorized use of the method or a breach of these Terms by us. You may not initiate a chargeback for disputes with merchants or insufficient balance. We reserve the right to charge you for any fees and expenses we incur due to a chargeback.

2.9.1. Uploaded funds are credited to your account once received by us. Some transactions (e.g., by card) may be credited immediately but are subject to reversal if the funds are not ultimately received. In such cases, we will deduct the amount from your balance or require repayment.

2.9.2. For uploads, we act as an e-money issuer, exchanging funds for e-money. We do not act as a payment service provider when receiving these funds.

3. Security and Unauthorized Use

3.1. You are responsible for all transactions conducted using your devices, payment cards, and account. You must keep your passwords secret and maintain the confidentiality of your account information. You are liable for all activities under your username and password.

3.2. We accept no liability for unauthorized use of your device or any applications used with our Platform.

3.3. If your device is stolen or you suspect unauthorized access, you must immediately notify your bank to restrict transactions.

4. Failed Transactions, Reversals, and Refunds

4.1. If a transaction fails (you were debited but value was not received), please contact support@noropay.com with your mobile number, transaction amount, date, type, and any other requested details. We will use our best efforts to resolve the issue with the relevant parties.

4.2. Refunds are issued for payments received but cannot be completed. If we cannot deliver the service within 72 hours, we will initiate a refund. Processing times vary by payment method.

5. Maintaining Your NoroPay Account

5.1. You must keep your account information accurate and up to date. We are not liable for losses from your failure to do so. We may ask you to confirm your information or provide documents at any time.

5.2. We may contact you by email or other registered methods. You are responsible for checking these channels regularly. We are not liable for losses from your failure to do so.

5.3. Your transaction history displays all uploads, payments, withdrawals, fees, dates, and exchange rates. Each transaction has a unique ID. You should quote this ID when contacting us and check your history regularly for irregularities.

5.4. Your transaction history is available to view, save, and print at all times while your account is active. After closure, you can request this information by contacting us.

6. Sending Payments

6.1. To send a payment, you must authorize it with your login details and password. Additional security measures may apply.

6.2. Payments are subject to dynamic limits based on your verification status. Check your limits in your profile to ensure they cover your intended payment and fees. Be aware that recipients may also have limits affecting their access to funds.

6.3. Sending payments is subject to fees, including currency conversion fees.

7. Receiving Funds

7.1. When you receive funds, we will send a notification email and display the transaction in your history with a unique ID.

7.2. Received funds may be reversed if the sender's payment was later charged back or reversed.

7.3. If someone receives a notification for an unregistered email address, they must claim the funds according to the instructions. Until claimed, no relationship exists between us and the recipient, and the funds remain the sender's.

7.4. Receiving payments may be subject to fees and currency exchange fees.

8. Withdrawing Funds

8.1. You can request a withdrawal at any time by logging in and selecting a withdrawal method. Methods are provided by third-party institutions. We do not guarantee any particular method and may change or discontinue them, provided at least one remains available. Our responsibility ends once the funds are received by your payment service provider.

8.2. Your account has withdrawal limits based on your verification status. Ensure your limits meet your needs before uploading funds.

8.3. If a withdrawal request exceeds your limit, we may require you to provide identity verification documents before processing.

8.4. Withdrawals are subject to fees, including currency conversion fees.

8.5. For withdrawals, we act as the payer, not a payment service provider.

8.6. You must not withdraw to a bank account or Payment Method for which you are not the named holder. Any such attempt will be treated as a fraudulent act.

8.7. You are responsible for entering correct and complete payment details. We are not liable for funds sent to the wrong account due to your error.

9. Fees

9.1. Fees depend on whether your account is for personal or commercial use.

9.2. Personal accounts are free as long as you log in or make a transaction periodically. We advise you to withdraw your remaining balance before closing your account.

9.3. Fees are either a percentage or a fixed amount in EUR. If deducted from a transaction in another currency, the EUR amount will be converted at our prevailing exchange rate. We do not apply an additional foreign exchange fee for this conversion.

9.4. Fees will be deducted from your NoroPay account balance. If your balance is insufficient, we may refuse to execute the transaction. Reversal or chargeback fees are deducted when incurred.

10. Third Party Providers (TPPs)

10.1. A TPP is an authorized service provider that can access your account on your behalf with your consent.

10.2. We will treat instructions from a TPP as if they came from you.

10.3. If you share your security details with anyone other than an authorized TPP, you authorize them to access your account and are responsible for any resulting losses.

10.4. We may refuse a TPP access if we suspect unauthorized or fraudulent activity. We will notify you of this and explain our reasons, where practicable.

10.5. If you suspect an incorrect or unauthorized payment, you must tell us immediately, even if you use a TPP. We are not responsible if a TPP fails to execute your payment instruction. Once initiated by a TPP, a payment cannot normally be cancelled.

11. General Provisions

11.1. This Agreement governs the relationship between you and NoroPay and supersedes any previous agreements.

11.2. This Agreement complies with applicable laws and does not terminate any agreements you have with electronic payment systems.

11.3. By using NoroPay, you unconditionally accept all provisions of this Agreement.

11.4. An Order submitted by you constitutes an acceptance of our offer.

11.5-11.8. The terms of an Order are recorded at the time of submission. The Agreement for a specific Order becomes effective upon submission and terminates when the funds are sent or the Order is cancelled.

11.9. This electronic Agreement is as effective as a written one.

11.9.(i) We reserve the right to modify this Agreement by publishing the updated version on this page. Continued use of our services after changes constitute acceptance.

12. Our Liability

In the case of an unauthorized or incorrectly executed payment due to our error, we will refund the amount and fees as soon as practicable. This does not apply if:

· You failed to notify us without undue delay after becoming aware of a security compromise (e.g., lost password).

· You acted fraudulently or with gross negligence, compromising your account security. In such cases, you are solely liable.

We will take reasonable measures to assist with tracing and recovering incorrect payments.

We are not liable for:

· Service disruptions due to unforeseeable circumstances beyond our reasonable control.

· Indirect or consequential losses (e.g., loss of profit, business, reputation).

· Losses arising from our compliance with legal requirements.

· The quality, safety, or legality of goods or services purchased from third parties.

· The assessment or payment of any taxes arising from your use of our services.

13. Your Liability and Refunds

13.1. You must notify us immediately of any unauthorized transaction. If you do so, we will refund the full amount as soon as practicable. This refund may not apply if:

· (a) Fraud or Gross Negligence: Evidence suggests you acted fraudulently or with gross negligence.

· (b) Security Breach: Your account was compromised due to your failure to keep your login credentials safe. In these cases, you are liable for the losses.

13.2. We may investigate disputed transactions and require your cooperation. If an investigation reveals fraud or gross negligence on your part, we will debit your account for the refunded amount after giving you notice.

13.3. You are liable for all losses, costs, and expenses we incur in connection with an unauthorized transaction if you acted fraudulently, with gross negligence, or failed to notify us as required.

13.4. Except in cases of fraud or gross negligence, you are not liable for losses incurred after you have notified us of the unauthorized transaction.

13.5. Refunds for Non-Executed or Defectively Executed Transactions

· 13.5.(i). If we are liable for a non-executed or defectively executed transaction, we will restore your account to its prior state, refunding charges and interest, provided you notified us.

· 13.5.(ii). You may claim a refund if: (a) the authorization did not specify the exact amount and it was more than you could have reasonably expected; or (b) the transaction was not authorized.

· 13.5.(iii). Refund claims under 13.5.(ii) will not be accepted if: (a) you gave direct consent and transaction information was provided at least four weeks before the date; or (b) you claim more than eight weeks after your account was debited.

13.6. Refund Process

We will provide a refund under section 13.5.(ii)or a justification for refusal within seven (7) Business Days of receiving your request. This period may be extended by seven (7) Business Days if we need further information from you.

13.7. Downloadable Digital Products:

These are non-refundable after a successful download.Refunds are only possible if payment was made but the product was not yet downloaded, or the downloaded file is defective.

14. Disputes with Merchants

We accept no responsibility for goods or services purchased using your NoroPay account. Disputes must be addressed directly with the merchant. Once a transaction is made, we cannot stop it.

You may have a claim against the merchant if goods/services are unsatisfactory, not supplied, or not as described. You must notify us of any dispute within 60 days of purchase. A chargeback will only be applied if successfully secured from the merchant. Digital purchases are not eligible for chargeback. Invalid chargeback claims for physical purchases may result in you being charged for any fees we incur.

15. Termination and Suspension

15.1. We may close your NoroPay Account by giving you two months' prior notice. You may close your account at any time.

15.2. Upon termination, we may provide instructions on how to withdraw your remaining funds.

15.3. We may suspend or terminate your account without notice if:

· You breach these Terms.

· You violate any applicable law or regulation.

· We have reason to believe you are involved in fraudulent, illegal, or criminal activity.

· You harass or abuse our representatives.

15.4. We may suspend your account if we reasonably believe it has been compromised or is being used without authorization. We will notify you prior to suspension, or promptly after if prior notice is not possible.

16. Definitions

· "Business Day": Any day other than Saturday, Sunday, or a public/bank holiday.

· "Customer Service": Our support team, reachable via the "Support" facility on the Website.

· "Fees": The charges payable by you for using our services.

· "Payment Method": Bank transfers and payment instruments, including credit and debit cards.

· "Privacy Notice": NoroPay's policy on personal data processing, available on the Website.

· "NoroPay Account": The electronic money account you open and maintain with us.

· "NoroPay Exchange Rate": A reference exchange rate set by us, which changes continuously.

· "NoroPay Website" or "Website": The website available at noropay.com.

· "Terms of Use": This document, as may be amended.

· "We", "us", "our": NoroPay.

· "You", "your": The natural person or legal entity in whose name the NoroPay account is opened.

17. Changes to these Terms

These Terms of Use are subject to change. We will provide you with prior notice of any material changes by sending an email to the primary address registered with your NoroPay account.