PAYaMIGO Terms

AND Conditions

Last Update: April 1st 2025

INTRODUCTION
Welcome to Payamigo!
These Terms and Conditions (“Terms”) govern your access to and use of Payamigo’s services. By using our services, you agree to comply with and be bound by these Terms. If you do not agree, you may not use our services.

DEFINITIONS

• “BACEN”: Central Bank of Brazil
• “BCRA”: Central Bank of the Argentine Republic
• “Foreign Merchant”: legal entity or individual, located abroad, with whom the USER has entered into the International Contract for Products and/or Services, and who will be the final recipient of the funds submitted to the Remittance Order by the USER or original sender of the Entry Order (as applicable); and the Payment Orders may be sent or received by the Foreign Merchant directly, or through a Payamigo representative in the country where the Foreign Merchant is headquartered.
• “Transition Account”: payment account owned by the USER, opened and managed by Payamigo (when necessary) or by a partner determined by it, intended for: (i) the contribution of funds by the USER, in National Currency, through one of the available modalities; (ii) the transfer of funds to enable the Remittance Order to the Foreign Merchant; and (iii) the receipt of funds resulting from an Entry Order, made by the Foreign Merchant in favor of the USER.
• “International Contract”: contracting of Products and/or Services made directly between the USER and the Foreign Merchant, in order to enable the realization of International Payments.
• “Exchange Company”: institution authorized by Bacen to operate in the foreign exchange market and carry out international transfers of funds, which will be contracted by Payamigo to carry out the Payment Order.
• “Personal Information”: data provided by the USER necessary for the realization of the Payment Order, in accordance with the limits for each transaction.
• “Foreign Currency”: currency adopted and in force in the country where the Foreign Merchant is located.
• “National Currency”: official currency adopted at the country where the Payamigo´s service is provided (eg.: Brazil => Reais – BRL).
• “Inflow Order”: inflow of funds in Foreign Currency, on behalf of the USER, for the receipt of funds owed by the Foreign Merchant due to International Contracts, which will be converted into National Currency by the Exchange Company.
• “Payment Order”: Remittance Order or Inflow Order.
• “Remittance Order”: remittance of funds in Foreign Currency, on behalf of the USER, for the payment of International Contracts owed by the USER to the Foreign Merchant, which will be converted from National Currency to Foreign Currency by the Exchange Company.
• “International Payments”: payment services, through exchange transactions, provided by Payamigo (as applicable), to make Payment Orders for the USER or for the Foreign Merchant.
• “Payamigo”, “we” or “our”: payment service provider.
• “Platform”: website or sales portal available on the internet and/or application for mobile devices, through which Foreign Merchants sell their Products and/or Services to the USER, and which is integrated with Payamigo’s payment solution.
• “Privacy Policy”: policy applicable to the USER, which provides for the collection, production, reception, classification, use, access, reproduction, transmission, distribution, processing, archiving, storage, elimination, evaluation or control of information, modification, communication, transfer, dissemination or extraction of the USER’s information, because of International Payments.
• “Products”: goods traded between the Foreign Merchant and the USER through the Platform.
• “Services”: payment processing and related financial services provided by Payamigo.
• “Term”: these Terms and Conditions for International Payments, which is an electronic contract available to the USER at the time of making a given Payment Order, and which may be consulted at any time on the Payamigo website, or on the Platform (if applicable).
• “USER”, “you” or “your”: an individual or legal entity, who, under the terms of this Term, is authorized to use our services, such as making a Remittance Order or receiving an Entry Order, as applicable.
• “Institutions”: institutions authorized to operate by BACEN or authorized to participate in the foreign exchange market, as eFX or foreign exchange counterparty, with which you may have a relationship as a partner of Payamigo, as “eFX” – payment services.

OBJECTIVE

• This document sets out the terms and conditions of use of Payamigo’s services.
• By using the services, the User agrees to be bound by these terms and conditions.

SCOPE OF APPLICATION
This document applies to all users of Payamigo’s services, regardless of their geographical location.

RIGHTS AND RESPONSIBILITIES

User Rights

• The User has the right to use Payamigo’s services to make online payments.
• The User has the right to access his/her account and transaction information.

User Responsibilities

• The User is responsible for providing accurate and up-to-date information when registering to use the services.
• The User is responsible for maintaining the security of his/her account and transaction information.
• The User is responsible for using Payamigo’s services in an ethical and legal manner.

Payamigo Rights

• Payamigo has the right to change these terms and conditions at any time without prior notice.
• Payamigo has the right to cancel or suspend the User’s account if illegal activity or fraud is suspected.

USE OF THE SERVICE

Registration and Authentication

• The User must register to use the Payamigo ‘s services, providing accurate and updated information.
• The User must use a username and password to access his/her account.

Payments and Transactions

• The User may make online payments using the Payamigo’s services.
• The User is responsible for verifying the accuracy of the payment information before confirming the transaction.

Security and Privacy

• Payamigo adopts security measures to protect the User’s information.
• Payamigo undertakes to respect the User’s privacy and not to share their information with third parties, except when necessary to process payments or comply with applicable laws and regulations.

GENERAL PROVISIONS

Changes to the Terms

• Payamigo may change these terms and conditions at any time, without prior notice.
• The User is responsible for regularly checking these terms and conditions to be aware of any changes.

Termination

• The User may terminate his/her account at any time without prior notice.
• Payamigo may terminate the User’s account if it suspects illegal activity or fraud.

Governing Law and Jurisdiction

• These terms and conditions shall be governed by and construed in accordance with the laws of [STATE/COUNTRY].
• Any dispute or controversy arising out of these terms and conditions shall be resolved by arbitration in accordance with the rules of [ARBITRATION INSTITUTION].

Communication

• Payamigo shall communicate with the User via email or other forms of electronic communication.
• The User is responsible for keeping his/her email address up to date and regularly checking his/her messages.

Limitation of Liability

• Payamigo shall not be liable for any damages or losses arising from the use of the services, except if caused by the negligence or willful misconduct of Payamigo.

ELIGIBILITY

• You must be at least 18 years old and have the legal capacity to enter into agreements to use our services.
• By using our services, you represent and warrant that you meet these requirements.

ACCOUNT REGISTRATION To access certain features, you may be required to create an account. You are:

• responsible for maintaining the confidentiality of your account credentials
• responsible for all activities that occur under your account.
• You must provide accurate and complete information.
  We reserve the right to suspend or terminate accounts if any violation of these Terms occurs.

SERVICES PROVIDED

• Payamigo provides payment processing and related services to facilitate transactions between users.
• We do not act as a bank or hold funds on behalf of users beyond what is necessary for processing transactions.

FEES AND CHARGES

• Our services may be subject to fees, which will be disclosed to you before processing a transaction.
• By using our services, you agree to pay all applicable fees.

TRANSACTIONS AND PAYMENT PROCESSING

• Payamigo facilitates transactions between users and their recipients.
• You agree that all transactions comply with applicable laws and regulations.
• Payamigo reserves the right to refuse or reverse transactions if fraudulent activity is suspected.

USER RESPONSIBILITIES
You agree not to use our services for illegal or fraudulent activities, including but not limited to:

• Money laundering
• Fraudulent transactions
• Unlawful financial activities

LIMITATION OF LIABILITY

• Payamigo and its affiliates will not be liable for any indirect, incidental, or consequential damages arising from the use of our services.
• We are only responsible for direct losses caused by our gross negligence or willful misconduct.

INDEMNIFICATION
You agree to indemnify and hold harmless Payamigo and its affiliates, officers, and employees from any claims, liabilities, damages, or expenses arising from your use of our platform or violation of these Terms.

TERMINATION
We reserve the right to suspend or terminate your access to our services at any time, without notice, with or without cause, including if you violate these Terms.

PRIVACY POLICY
Your use of Payamigo´s services is also governed by our Privacy Policy, which describes how we collect, use, and protect your personal information.

GOVERNING LAW, JURISDICTION AND DISPUTE RESOLUTION
These Terms are governed by the laws of Brazil, Mexico, Argentina and Colombia.
Any disputes arising from these Terms or your use of our platform shall be resolved through arbitration or in the courts of Brazil, Mexico, Argentina and Colombia.

CHANGES TO TERMS
We reserve the right to modify these Terms at any time.
Changes will be effective upon posting on our website.
Continued use of our services constitutes acceptance of the updated Terms.

CONTACT INFORMATION
If you have any questions about these Terms, please contact us at support@payamigo.com.