Payloco Terms of Use

4.You acknowledge and commit that:

(a) Authorized users have the right to represent you in making service requests and instructions to Payloco;

(b) Payloco will rely on the authorized users' permissions, and you will be bound by the actions of authorized users until you provide written notice to revoke or change permissions;

(c) You are responsible for ensuring appropriate personnel/entities are granted necessary authority;

(d) Payloco may deny access to authorized users if concerns about unauthorized or fraudulent access exist;

(e) You shall promptly report any infringement or unauthorized access to Payloco and assist with necessary verification.

1. To fulfill our obligations under applicable law, before and during the provision of Services to you, we may conduct due diligence on you, your directors, partners, ultimate beneficial owners, employees (where relevant), and authorized users, as well as any parties involved in your transactions or use of the Services. You must provide us with complete, accurate, and up-to-date information at all times. You shall promptly provide any other information we require at any time, no later than two (2) business days or other periods agreed upon with you in the agreement after our request.

2. You acknowledge that we may not provide any Services to you until we have received all required information. We shall not be liable for any losses caused by your failure or delay in providing us with the required information.

3. You agree that we may conduct any inquiries we deem necessary, directly or using third parties, to verify the information you provide to us, including checking commercial databases or credit reports. We may retain records of such due diligence in accordance with applicable law.

4. You agree that our provision of Services and your ability to use the Services are subject to:

(a) The successful completion of initial and any subsequent due diligence checks, including credit assessments (if applicable);

(b) No significant change in your credit status during the term of the Agreement.

5. We may temporarily or permanently restrict the use of all or any part of the Services based on certain regulatory requirements, place of business, identity verification checks, or business requirements. Such restrictions will be notified to you at the time of implementation, or immediately after implementation if it is impractical due to urgent or unforeseen circumstances.

6. You shall only maintain and use your account for your own business or trade. You shall not in any way assist third parties in circumventing laws and KYC ("Know Your Client") requirements.

7. You shall provide true, legal, and accurate information and shall not make false or misleading statements.

1. You commit and warrant the following on an ongoing basis:

(1) You possess full capacity, power, and all necessary licenses, permits, and consents to enter into and exercise rights, and fulfill your obligations under the terms, and your entry into and performance of the terms do not: a. Conflict with or result in a breach of any provision of your articles of association, bylaws, or any other organizational documents; and b. Conflict with or result in a breach of any applicable laws or other restrictions or obligations to which your business is subject.

(2) You will provide Payloco with accurate, up-to-date, and complete due diligence information and data at all times;

(3) You shall use the Services only for lawful purposes and in compliance with applicable terms, and strictly prohibit the use of this Website for fraud, illegal transactions (including transactions of goods or services prohibited by law), or other acts that harm the interests of Payloco, its affiliates, other users, or service providers.

2.You acknowledge and agree that, except as expressly stipulated in this Agreement or otherwise agreed by Payloco, transaction instructions, once issued, may not be withdrawn. If you apply to withdraw your transaction instruction through the platform, Payloco will consider the stage of the transaction and whether the Agreement permits it, and, if permitted, coordinate with relevant payment institutions/banks and financial institutions to decide whether to approve your withdrawal application. You agree that even if your withdrawal application is approved, you may still be liable for fees and costs already incurred by any relevant parties, including Payloco, and for any losses caused to third parties by your withdrawal.

1. When we have reasonable grounds to believe that you have violated the compliance and integrity commitment, or if any of the following circumstances exist, we will take platform maintenance measures as appropriate:

(1) Requirements and orders from relevant laws and regulations or competent authorities;

(2) Abnormalities in your account operations or fund flows under related services;

(3) Your account may pose risks (e.g., your account has not been used for a long time and has certain security risks);

(4) You have been complained about by others, and the other party has provided certain evidence;

(5) Other parties' transactions with you involve significant misunderstandings or operational errors that may lead to your undue enrichment;

(6) You may have incorrectly operated someone else's account, or verified someone else's account or profile;

(7) If we have reason to believe that your account is being used, has been used, or is involved in any fraud or attempted fraud;

(8) We believe your account has been compromised or used in a manner inconsistent with this Agreement;

(9) Provision of false, inaccurate, or misleading information;

(10) Provision of services to you may be considered a serious violation of relevant applicable laws, regulations, and supervisory requirements;

(11) Significant defects or vulnerabilities exist in the information security or technical systems of the platform or third parties, or technical errors have occurred;

(12) Transaction funds processed by you through payment institutions/banks are recalled or withdrawn due to reasons of third-party service providers or payees, but you have already issued a withdrawal instruction and the corresponding transaction funds have been transferred to your designated withdrawal account;

(13) Other circumstances where we reasonably deem it necessary to take platform maintenance measures.

2. Platform maintenance measures include: investigating relevant circumstances, requiring you to provide relevant information or documents within a specified period, suspending access, restricting, disabling, or permanently closing your account without prior notice, limiting the functions of products or services you use, terminating your account in severe cases, taking legal action against you when necessary, notifying payment institutions/banks to prohibit withdrawals and/or returning corresponding funds based on the exchange rate provided at that time according to the payment source, and other reasonable measures.

3. Platform maintenance measures may be implemented individually or concurrently. We reserve the autonomous right of decision in this regard. Platform maintenance measures do not preclude other agreed remedial rights or rules. You understand that our services rely on the accurate operation of systems and operations. If system errors, failures, or undue enrichment by you or us occur, you agree that we may take appropriate corrective measures such as correcting errors or notifying payment institutions/banks to deduct funds. If you apply for service restoration, or the lifting of the aforementioned withdrawal prohibitions or other restrictions, you will need to provide us with relevant clarification or supplementary materials and identity verification documents for our verification. Payloco may also restore the relevant services on its own once it deems the issues resolved.

4. Payloco will process transactions that are considered legitimate and authorized. You acknowledge and accept that, based on compliance with anti-money laundering regulations or internal risk management decisions, Payloco may at any time refuse or restrict, suspend collections, withdrawals, payments, transfers, and other payment services. You are aware that transactions conducted within the framework of this Agreement may be subject to disclosure powers required by financial management authorities in relevant jurisdictions. You may, in accordance with applicable law, review all disclosed information related to you, provided that your access does not impede the purpose of combating money laundering and terrorist financing. You shall not file a complaint or civil lawsuit against Payloco due to Payloco's reporting information to relevant authorities based on reasonable suspicion.

5. If Payloco takes platform maintenance measures, and you incur relevant losses as a result of such measures, you hereby agree that Payloco shall not be liable for such losses. Unless it’s unforeseeable or uncontrollable by Payloco, Payloco will send a notice within a reasonable period of time before taking any measures. If platform maintenance measures are caused by your reasons, and consequently cause damage to us or other parties, you shall bear liability for compensation.

1. You may access and use our confidential information based on specific purposes disclosed by us and within the scope explicitly permitted by us. You must take strict confidentiality measures to keep such information confidential and will not disclose any of our confidential information to any third party, unless required by:

(i) Law or any competent regulatory authority;

(ii) Your lawyers, accountants, or other advisors, agents, representatives, and employees, where reasonable and necessary, and ensuring that non-disclosure agreements are in place;

(iii) For defense in actual or potential litigation.

For(i) and(iii) above, you will provide us with reasonable notice and any detailed information we may request prior to such necessary disclosure (if applicable law allows us to be notified); for (ii) above, you shall bear full responsibility for the infringement and breach of contract by these entities, and such actions shall be deemed as your infringement or breach of contract.

2. Protecting personal data is very important to us. In addition to this Agreement, our Privacy Policy explains how and for what purposes we collect, use, retain, disclose, and protect the personal data you provide to us. You agree to review the terms of our Privacy Policy as updated from time to time.

3. In addition to any other reasonable information security requirements we specify, you shall ensure that any personal data transmitted to Payloco is transmitted through secure methods and means compliant with data protection legislation. You commit that Payloco can rely on your having obtained the data subjects' consent. You shall present relevant terms information to the data subjects so that they understand how Payloco collects, uses, and discloses their personal data, including data involved in your transactions with us, and our use of their personal data for direct marketing purposes, and their consent for us to use personal data you provide on their behalf.

4. We may disclose your information to others. Payloco may disclose your data to:

(a) Any branches, subsidiaries, holding companies, associates, affiliates, including any affiliates or related entities of Payloco;

(b) Any agents, contractors, or service providers we engage or propose to engage to assist us in performing our functions and activities, who are under an obligation to keep such information confidential;

(c) Participants in payment systems, including card schemes, financial institutions, and payment organizations, such as the Society for Worldwide Interbank Financial Telecommunication;

(d) Any party with whom Payloco may enter into any assignment, fundraising, equity purchase, or other commercial agreement, or any actual or proposed assignee or investor of all or any part of Payloco's business and/or assets and/or shares or interests, provided such party is obligated to keep such information confidential;

(e) Any person to whom disclosure of information is permitted or required (or anticipated) by any applicable law or regulation or under any court order;

1. Payloco and its affiliated companies own all intellectual property rights in the platform interface, system architecture, trademark logos, and documentation. Without written permission, you may not copy, modify, distribute, transmit, or use them for purposes other than those authorized by this Agreement.

2. If you obtain authorization for use, you shall strictly protect our brand reputation and ensure we are free from any negative news, lawsuits, disputes, administrative penalties, etc., and immediately cease any use of Payloco IP upon termination of authorization.

1. Due to the characteristics of the internet, transactions or message transmissions conducted through this Website may experience interruptions, transmission failures, delays, or data errors. Payloco is not responsible for communication network failures or the accuracy and timeliness of messages and transactions sent through this Website. Occasionally, it may be necessary to interrupt your use of the Services for operational, security, or other reasonable reasons. In such cases, Payloco will restore access as quickly as possible.

2. The information provided on this Website comes without any express or implied warranties. Although we have made reasonable efforts to prepare the Website content, all content is provided "as is," without guarantee of its completeness, accuracy, security, suitability, or freedom from computer viruses.

3. To the maximum extent permitted by law, Payloco and its affiliates shall not be liable for indirect, consequential, incidental, special, or punitive damages (including loss of profits, business interruption, loss of business opportunities, loss of data, etc.) arising from the use or inability to use this Website. Unless otherwise agreed with you, in no event shall our liability to you or any third party exceed the actual amount of direct losses, regardless of whether these damages are foreseeable, or whether we or any entity have been advised of the possibility of such damages, and our total and any liability to you related to the provision of services under this Agreement shall be limited to the total service fees paid by you to us in the two months prior to the liability event, and shall not exceed HKD 20,000.

4. You shall not consider any information or comments from Payloco as financial or strategic advice, and you shall be solely responsible for all your actions.