Terms of Use
Please read this document (this “Agreement”) carefully, as it sets out the terms and conditions on which Fast and Trust Technology Limited UAB and its affiliates (collectively referred to as “FaTPay”) will provide Services (as defined below) to you through our websites, APIs, or mobile applications.
1.1 Fast and Trust Technology Limited UAB is a private limited liability company, organized and existing under the laws of Lithuania with registration number of 306029973, and having its registered office at Laisves Ave. 60, Vilnius. FaTPay is registered as a virtual currency exchange operator and a depositary virtual currency wallet operator under the laws of Lithuania.
1.2 In this document, references to “we/our/us” are to FaTPay. Any references to “Customer/you/your” are references to you as a customer of FaTPay and user of our services. Any references to the “Service” includes Service provided through websites, APIs, or mobile applications.
1.3 By signing up to use an account through https://fatpay.xyz/ or any of our associated websites, APIs or mobile applications (collectively the “Site”), you agree that you have read, understood, and accept all of the terms and conditions contained in this Agreement, as well as our Privacy Policy. If you do not agree, you may not access or use the Services (as defined below) and must immediately cease any use of the Services.
1.4 This Agreement will govern the use of the Services provided by FaTPay. By accessing, using, or attempting to access or use the Services, you agree to be bound by the terms and conditions set out in this Agreement. This Agreement will come into effect when you confirm electronically that you agree to it. We recommend that you retain a copy of this Agreement and transaction records.
1.5 Use of cryptocurrency may be illegal in some jurisdictions. It is your responsibility to know the regulatory requirements concerning transactions with cryptocurrency in your jurisdiction before using the Services.
1.6 For the purposes of this Agreement a “Business Day” is any day which is not a Saturday, Sunday or public holiday in Lithuania and which the banks are open for business in Lithuania.
DISCLAIMER: The risk of loss in trading or holding Bitcoin or any other cryptocurrency can be substantial. You should therefore carefully consider whether trading or holding Bitcoin or any other cryptocurrency is suitable for you in light of your financial condition. In considering whether to trade or hold Bitcoin or any other cryptocurrency, you should be aware that the price or value of Bitcoin or any other cryptocurrency can change rapidly, decrease, and potentially even fall to zero.
To be eligible to use any of the FaTPay Services, you must be at least 18 years old, have capacity to enter into legally binding contracts and reside in a country in which the relevant FaTPay Services are accessible. FaTPay Services are NOT accessible by users with nationality of, or residing in, the United States, Syria, Iran, Democratic Republic of Congo, Venezuela, Libya, Russia, Ukraine, North Korea, and any other countries or regions subject to the European Union sanction regime from time to time.
3.1 Subject to other terms and conditions of this Agreement, FaTPay will provide you with fiat to cryptocurrencies exchange services (the “Services”).
3.2 By using the FaTPay Services, you will be able to engage in transactions directly with FaTPay for purchase of certain cryptocurrencies (other than any cryptocurrencies that may be deemed as securities by regulators in your jurisdiction) (the “Cryptocurrencies”) from FaTPay using fiat, subject to the applicable fees displayed during the purchase flow (such purchase, a “Cryptocurrency Purchase”).
3.3 In order to purchase Cryptocurrency from FaTPay, you must provide a valid and accepted payment method, which will be linked to your FaTPay Account. Upon FaTPay’s verification of your payment method(s), you will be able to engage Cryptocurrency Purchase.
3.4 FaTPay’s current pricing information for the Cryptocurrencies may be viewed through the Site. Please note that Cryptocurrency prices are volatile and fluctuate throughout the day, and any pricing information obtained through the Site is for informational purposes only. In order to conduct a Cryptocurrency Purchase, you must log into your Account and input the desired transaction details. FaTPay will then provide its current pricing information for your chosen Cryptocurrency[ies]. If you accept the pricing displayed, you can then place an order to confirm the Cryptocurrency Purchase. If you do not accept the pricing displayed, you can choose not to proceed and cancel. Notwithstanding the foregoing, you acknowledge that despite of the current pricing information for your chosen Cryptocurrency[ies] and the estimated amount of Cryptocurrencies that you will receive under a Cryptocurrency Purchase displayed at the time of your placement of an order, the actual amount of Cryptocurrencies that you will receive under such Cryptocurrency Purchase is calculated based on the real time pricing at the point of our transferring the Cryptocurrencies to you in accordance with Section 3.6 below. Furthermore, the estimated amount of Cryptocurrencies you will receive displayed at the time of your placement of an order does not reflect the applicable transaction fees and such transaction fees will be deducted from the funds received by us from you and the actual amount of Cryptocurrencies you will receive will be adjusted accordingly.
3.5 Acceptance by us of an order for a Cryptocurrency Purchase does not guarantee that you will receive the corresponding amount of Cryptocurrency. The Cryptocurrency Purchase is conditional upon actual receipt by us of the funds from your credit or debit card, your wallet at third-party payment institutions, or other payment method allowed by FaTPay and linked to your Account.
3.6 Subject to clauses 3.4 and 3.5 and the transaction being honoured by the Customer’s bank, card provider or other relevant party, FaTPay will submit a request to the cryptocurrency network with respect to the transfer of the Cryptocurrencies purchased to a Cryptocurrency wallet, as provided by you at the time of the order, within one (1) hour once the payment acquirer informs us of its receipt of payment from you. You acknowledge that your actual receipt of the Cryptocurrencies may be subject to delay caused by reasons beyond control of FaTPay, e.g., delay caused by cryptocurrency network.
3.7 Payment Services Partners. FaTPay will use third-party payment processors to process any fiat payment between you and FaTPay.
3.8 Recurring Transactions. If you set up a recurring purchase of Cryptocurrencies (a “Future Transaction”), you authorise us to initiate recurring electronic payments in accordance with your selected Cryptocurrency Purchase. Your Future Transactions will occur in identical, periodic instalments, based on your period selection (e.g., daily, weekly, monthly), until either you or FaTPay cancels the Future Transaction. This authorisation will remain in full force and effect until you change your Future Transaction settings or until you provide us with written notice via hi@fatpay.xyz.
FaTPay DOES NOT facilitate or provide trading or investment or brokerage accounts or facilities, nor does FaTPay provide investment or any other financial advice.
4.1 To use the FaTPay Services, you will need to register for an account (the “Account”) by providing your name, email address and accepting the terms of this Agreement. By using FaTPay Services, you agree and represent that you will use the FaTPay Services only for yourself, and not on behalf of any third party. You are fully responsible for all activity that occurs under your FaTPay account. We may, in our sole discretion, refuse to open a FaTPay account for you, or limit the number of accounts that you may hold or suspend or terminate any account.
4.2 To become a Customer you must also provide FaTPay with the information that is requested as part of the account opening process (including our “Know Your Customer” due diligence process) to verify your identity and the detection of anti-money laundering, anti-terrorist financing, fraud, or any other financial crime and permit us to keep a record of such information.
4.3 You will need to complete certain verification procedures before you are permitted to start using the FaTPay Services.
4.4 The information we request may include certain personal information including, but not limited to, your name, address, telephone number, email address, date of birth, taxpayer identification number, government identification number, information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) network status, customer type, customer role, billing type, mobile device identifiers (IMSI and IMEI) and other subscriber status details, and facial characteristic (to the extent necessary for face recognition purpose). In providing us with this or any other information that may be required, you confirm that the information is accurate and correct and you agree to keep us updated if any of the information you provide changes. We will treat this information in accordance with the Data Protection provisions of this Agreement.
4.5 You authorise us to make enquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these enquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our enquiries in full. This is an identity check only and should have no adverse effect on your credit rating. Additionally, we may require you to wait some amount of time after completion of a transaction before permitting you to use further FaTPay Services and/or before permitting you to engage in transactions beyond certain volume limits.
4.6 Failure to provide any information that FaTPay reasonably requests from you pursuant to applicable money laundering laws and regulations after you have become a Customer shall be grounds for the suspension of the provision of Services to you (including access to your account) and/or the termination of this Agreement. The nature and extent of the information you are required to provide may differ, for example, based on the Services provided to you under this Agreement and/or the means of payment you use.
5.1 The use of all FaTPay Services is subject to a limit on the volume, stated in GBP, EUR, or other fiat currency you may transact or transfer in a given period (e.g. daily). To view your limits, login to your FaTPay account. Your transaction limits may vary depending on your payment method, verification steps you have completed, and other factors. We reserve the right to change applicable limits as we deem necessary. If you wish to raise your limits beyond the posted amounts, you may submit a request at hi@fatpay.xyz.
5.2 We may require you to submit additional information about yourself and provide additional records, if you wish to raise your limits (“Enhanced Due Diligence”). In our discretion, we may refuse to raise your limits, or we may lower your limits at a subsequent time even if you have completed Enhanced Due Diligence.
6.1 Once an order / purchase to buy Cryptocurrency has been made it cannot be cancelled or recalled.
6.2 All orders / purchases are final and cannot be refunded once the Cryptocurrency has been sent to the Cryptocurrency wallet indicated by you at the time of purchase.
6.3 Once an order / purchase has been sent to the Cryptocurrency wallet indicated by you at the time of purchase it cannot be recalled or retrieved under any circumstances.
6.4 You hereby agree that upon delivery, you will not be entitled to any credit or refund and all purchases are final. FaTPay’s obligation towards you will be absolutely discharged upon delivery of the Cryptocurrency to you and you shall have no claim or right against FaTPay upon such delivery.
7.1 FaTPay may: (a) refuse to complete, or block or cancel any transaction you have authorised, (b) suspend, restrict, or terminate your access to any or all of the FaTPay Services, and/or (c) deactivate or cancel your FaTPay Account with immediate effect for any reason, including but not limited to where:
7.1.1 we reasonably believe that we need to do so in order to protect our reputation;
7.1.2 we are, in our reasonable opinion, required to do so by applicable law, regulation or any court or other authority to which we are subject in any jurisdiction;
7.1.3 we reasonably suspect you of acting in breach of this Agreement;
7.1.4 we have concerns that a transaction is erroneous or about the security of your FaTPay Account or we suspect the FaTPay Services are being used in a fraudulent or unauthorised manner;
7.1.5 we suspect money laundering, terrorist financing, fraud, or any other financial crime;
7.1.6 use of your FaTPay Account is subject to any pending litigation, investigation, or government proceeding and / or we perceive a heightened risk of legal or regulatory non-compliance associated with your FaTPay Account activity; and / or
7.1.7 you take any action that may circumvent our controls such as opening multiple FaTPay Accounts or abusing promotions which we may offer from time to time.
7.1.8 you fail to provide on request such documentation as FaTPay (or any third party whose services we use in providing the Services to you under this Agreement) reasonably requires in order to comply with its obligations under applicable anti-money laundering laws and regulations or otherwise to ensure the verification of your identity and/or funding sources to FaTPay satisfaction.
7.1.9 any Cryptocurrency Purchase is significantly larger in size;
7.1.10 FaTPay reasonably believes that it is necessary or desirable to do so in order to protect the security of the Account, including circumstances where any details of the Account may have been lost or stolen.
7.2 In the case of any such suspension, FaTPay shall make reasonable efforts to inform you about the withholding or suspension, provided that such disclosure:
7.2.1 is not in breach of any applicable law or regulation and does not contravene the instruction of any competent authority or regulator; and
7.2.2 would not compromise FaTPay’s reasonable security measures.
7.3 FaTPay shall not be liable to you for any losses you may suffer as a result of any reasonable action it takes to suspend the Account or withhold settlement of a Cryptocurrency Purchase in accordance with this clause 7.
7.4 Where the reasons for FaTPay’s actions under this clause 7 cease to exist, FaTPay may, at its discretion, either reinstate access to the Account and the Services and/or issue the Customer with new Account details and reserves the right to ask you to re-complete the account opening procedures as outlined in this Agreement and to resolve any open issues with your account before a restriction can be removed.
We may suspend, restrict, or terminate your access to any or all of the FaTPay Services and/or deactivate or cancel your FaTPay Account, without reason by giving you one months’ prior notice. You acknowledge that our decision to take certain actions, including limiting access to, suspending, or closing your FaTPay Account, may be based on confidential criteria that are essential for the purposes of our risk management and security protocols. You agree that we are under no obligation to disclose the details of its risk management and security procedures to you.
8.1 Unless otherwise provided in this Agreement, all fees payable under this Agreement are displayed during the purchase flow and shall be paid in Euro or any other currency that is agreed between FaTPay and the Customer.
8.2 FaTPay reserves the right to pursue any financial losses suffered due to you filing a chargeback procedure with your bank. These can include administration fees levied by the card acquirer and card schemes as well as the monetary value of the Cryptocurrencies ordered / purchased.
9.1 You acknowledge that we may process personal data in relation to you, in connection with this Agreement, or the FaTPay Services. We will process and sometimes update this personal data in accordance with the Privacy Policy. Accordingly, you represent and warrant that:
9.1.1 your disclosure to us of any personal data was or will be made in accordance with all applicable data protection and data privacy laws, and those data are accurate, up to date and relevant when disclosed;
9.1.2 before providing any such personal data to us, you acknowledge that you have read and understood our Privacy Policy, a copy of which is available here;
9.1.3 from time to time we provide you with a replacement version of the Privacy Policy, you will promptly read that notice and provide updated copies of the Privacy Policy to, or re-direct towards a webpage containing the updated Privacy Policy, any individual whose personal data you have provided to us.
10.1 This clause 10 sets out FaTPay’s entire financial liability (including any liability for the acts or omissions of its employees, agents and subcontractors) to the Customer:
10.1.1 arising under or in connection with this Agreement;
10.1.2 in respect of any use made by the Customer of the Services or any part of them; and
10.1.3 in respect of any representation, misrepresentation (whether innocent or negligent), statement or tortious act or omission (including negligence) arising under or in connection with this Agreement.
10.2 Except as expressly and specifically provided in this Agreement, FaTPay disclaims all warranties and conditions express or implied, including, but not limited to, implied warranties of satisfactory quality and fitness for a particular purpose, in relation to the Services, their use and the results of such use.
10.3 All warranties, representations, conditions and all other terms of any kind whatsoever implied by statute or common law are excluded from this Agreement to the fullest extent permitted by applicable law.
10.4 Whilst FaTPay takes every care to ensure that the standard of the Site remains high and to maintain the continuity of it, the Internet is not always a stable medium, and errors, omissions, interruptions of service and delays may occur at any time. As a result, we do not accept any ongoing obligation or responsibility to operate the Site.
10.5 FaTPay disclaims all liability associated with the use of Cryptocurrency, including:
10.5.1 unknown inherent technical defects;
10.5.2 regulatory or legislative changes; and
10.5.3 currency fluctuation.
10.6 Nothing in this Agreement excludes the liability of FaTPay:
10.6.1 for death or personal injury caused by FaTPay negligence;
10.6.2 for fraud, fraudulent misrepresentation or fraudulent misstatement; or
10.6.3 any statutory liability not capable of limitation.
10.7 Subject to clause 10.6, FaTPay will not be liable whether in tort (including for negligence or breach of statutory duty), contract, misrepresentation (whether innocent or negligent), restitution or otherwise for any loss of profits, loss of business, loss or corruption of data, depletion of goodwill and/or similar losses, or pure economic loss, or for any special, punitive, indirect or consequential loss costs, damages, charges or expenses however arising under this Agreement or for any loss, damage or corruption of any Cryptocurrency as a result of the instructions, acts or omissions of the Customer. This shall include any losses attributable to a failure by the Customer to keep secure any security or other information relating to the wallet and access to it.
Except for the express statements set forth in this Agreement, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to your use and access of the FaTPay Services and Site.
11.1 By agreeing to this Agreement, you represent, warrant and undertake to us that:
11.1.1 you have full power and authority to enter into this Agreement;
11.1.2 you understand and acknowledge that we do not warrant that any of the Services available through our API are suitable or appropriate for your needs and that you must take your own independent legal and other advice on such Services;
11.1.3 you are entering into this Agreement as principal and not on behalf of any third party;
11.1.4 you will not violate any applicable laws by entering into this Agreement or receiving the Services provided under it;
11.1.5 you will not provide false, misleading or inaccurate information;
11.1.6 you will not facilitate any viruses, malware, worms, trojan horses or some other computer programming routines that may damage, corrupt, disrupt, misuse or gain unauthorized access to any data, system information or FaTPay Services;
11.1.7 funds or Cryptocurrencies transferred to the wallet have been acquired lawfully;
11.1.8 you will not use an anonymizing proxy; use any, other automatic devices, spider or manual process to copy or monitor our websites without our prior written permission;
11.1.9 you will not harass and/or threaten our employees, agents, or other users;
11.1.10 you understand and acknowledge that while we make reasonable endeavours to ensure the accuracy of the information that we provide, and which in turn, is provided to you, neither we nor any of our directors, employees or agents make any representation or warranty, express or implied, as to the accuracy or completeness of such information;
11.1.11 any information provided by you to FaTPay under this Agreement is true, complete, accurate, up to date and not misleading; and
11.1.12 you shall provide all assistance reasonably requested by FaTPay to enable FaTPay to comply with its obligations under this Agreement.
11.2 FaTPay warrants, represents and undertakes that it shall provide the Services with reasonable care and skill.
11.3 The FaTPay Services are provided on an “as is” and “as available” basis, with no further promises made by us around availability of the FaTPay Services. Specifically, we do not give any implied warranties of title, merchantability, fitness for a particular purpose and/or non-infringement. We do not make any promises that access to the Site, any of the FaTPay Services, or any of the materials contained therein, will be continuous, uninterrupted, timely, or error-free.
11.4 FaTPay makes no representation or warranty that the Services are applicable or appropriate for use by customers in all jurisdictions and it is your responsibility to ensure compliance with the laws of any relevant jurisdiction of your residence.
12.1 We are legally obligated to secure your consent to allow us to store your card details for future use and cannot process your payment before you agree to such storing. By accepting this Agreement, you hereby give us permission to do so.
12.2 Your card will remain stored against your account for transactional purposes, unless you decide to remove it, or until the card expires. For legal and regulatory purposes, we will continue to store records of your transactions in accordance with our Privacy Policy.
12.3 We need to do this so that you will be able to deposit and withdraw more easily in future and it also helps us to prevent and detect any fraudulent activity.
12.4 Stored details are primarily used so that you don’t have to re-enter all your details for every transaction you make.
12.5 We also compare stored details in our fraud screening systems, to prevent your details being used on any other accounts and safeguard your data.
12.6 As per our policy, if you don’t agree to us storing your payment card details, we won’t be able to process your deposit from the card used.
12.7 Changes in the permitted use will require your agreement, we will notify you if this occurs.
13.1 You have fourteen (14) calendar days to exercise your right of withdrawal from this Agreement, without having to justify any reason or pay any penalty. This withdrawal period begins on the day after the date that your application is accepted by us.
13.2 We will not normally provide the Services during the withdrawal period. Any Services, orders or purchases which are fully performed before a withdrawal cannot be reversed.
13.3 You must notify your withdrawal request to us within the allotted period by email to hi@fatpay.xyz.
13.4 If you exercise your right of withdrawal, this Agreement will be terminated at no cost to you.
14.1 This Agreement will commence in the manner set out in clause 1 and will continue unless either party notifies the other of termination, in writing, in accordance with this Agreement.
14.2 This Agreement can be terminated immediately by the Customer providing written notice to FaTPay.
14.3 This Agreement can be terminated by FaTPay in accordance with all the provisions of this Agreement.
15.1 We shall not be liable for delays, failure in performance or interruption of the Services which result directly or indirectly from any cause or condition beyond our reasonable control, and which is unforeseeable, or unavoidable and insurmountable even though foreseeable, makes it objectively impossible or impractical for us to perform this Agreement in whole or in part, including but not limited to, significant market volatility, any delay or failure due to any act of God, act of civil or military authorities, act of terrorists, civil disturbance, war, strike or other labour dispute, fire, interruption in telecommunications or internet services or network provider services.
16.1 We may (where allowed to do so by law) communicate with you by posting information in your Account or on the Site, in which case the information will be treated as received by you when it is posted by us.
16.2 We may also contact you at the email address you provide us with when applying to open your Account. Notices sent by email will be deemed to have been received at the time of transmission as shown by the sender’s records (or if sent outside business hours, at 9 am on the first Business Day following dispatch).
17.1 For any complaint relating to the Services, you are advised to contact hi@fatpay.xyz.
18.1 Your Compliance with Applicable Law. You must comply with all applicable laws, regulations, licensing requirements and third party rights (including, without limitation, data privacy laws) in your use of the FaTPay Services.
18.2 We grant you a limited, non-exclusive, non-transferable licence, subject to the terms of this Agreement, to access and use the Site, and related content, materials, information (collectively, the “Content”) solely for approved purposes as permitted by us from time to time. Any other use of the Site or Content is expressly prohibited and all other right, title, and interest in the Site or Content is exclusively the property of FaTPay and its licensors. You agree not to copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way exploit any of the Content, in whole or in part.
18.3 “FaTPay”, fatpay.xyz, and all logos related to the FaTPay Services or displayed on the Site are trademarks or registered marks of FaTPay or its licensors. You may not copy, imitate or use them without our prior written consent or any third party's copyright, trade secret, patent or other intellectual property rights, or rights of publicity or privacy.
18.4 Your use of the FaTPay Services and the Site is subject to international export controls and economic sanctions requirements, if applicable. By sending, buying, selling, Cryptocurrencies through the Site or FaTPay Services, you agree that you will comply with those requirements. You are not permitted to acquire Cryptocurrency or use any of the FaTPay Services through the Site if:
18.4.1 you are in, under the control of, or a national or resident of Syria, Iran, Democratic Republic of Congo, Venezuela, Libya, Russia, Ukraine, North Korea, or any other country subject to the UN sanctions, the European Union or HM Treasury's financial sanctions regimes, or United States embargo (each a “Sanctioned Country”), or if you are a person subject to the EU or HM Treasury's financial sanctions regime, or on the U.S. Treasury Department's Specially Designated Nationals List or the U.S. Commerce Department's Denied Persons List, Unverified List, Entity List, or (a “Sanctioned Person”); or
18.4.2 you intend to supply any acquired or stored Digital Currency or FaTPay Services to a Sanctioned Country (or a national or resident of a Sanctioned Country) or Sanctioned Person.
18.5 We will notify of you any change to the Agreement on your first use of the FaTPay Services after any amendment. You will be deemed to have accepted the change if you continue to use the FaTPay Services. If you do not accept the change you should let us know, and the Agreement will terminate. You may also end the Agreement immediately and free of charge with effect at any time.
18.6 We may make all other amendments to the Agreement by posting the revised Agreement on the Site or by emailing it to you, indicating when the revised Agreement becomes effective. Although we will endeavour to provide you with advance notice where possible, where lawful we may indicate that the revised Agreement shall be effective immediately and if you do not agree with any such modification, you should close your FaTPay Account and cease using the FaTPay Services.
18.7 Copies of the most up-to-date version of the Agreement will be made available in the Site at all times and will be provided to you by email on your request.
18.8 Nothing in this Agreement shall be deemed or is intended to be deemed, nor shall it cause, either you or FaTPay to be treated as partners or joint ventures, or either you or FaTPay to be treated as the agent of the other.
18.9 If you receive information about another user through the FaTPay Services, you must keep the information confidential and only use it in connection with the FaTPay Services. You may not disclose or distribute a user’s information to a third party or use the information except as reasonably necessary to carry out a transaction and other functions reasonably incidental thereto such as support, reconciliation and accounting unless you receive the user’s express consent to do so. You may not send unsolicited communications to another user through FaTPay.
18.10 Contact Information. You are responsible for keeping your email address and telephone number up to date in your FaTPay Account profile in order to receive any notices or alerts that we may send you (including notices or alerts of actual or suspected security breaches).
18.11 Entire Agreement. This Agreement (including documents incorporated by reference herein) comprise the entire understanding and agreement between you and FaTPay as to the subject matter hereof, and it supersedes any and all prior discussions, agreements and understandings of any kind (including without limitation any prior versions of this Agreement), and every nature between and among you and FaTPay.
18.12 Section headings in this Agreement are for convenience only and shall not govern the meaning or interpretation of any provision of this Agreement.
18.13 Assignment. This Agreement is personal to you and you cannot transfer or assign your rights, licenses, interests and/or obligations to anyone else. We may transfer or assign our rights, licenses, interests and / or our obligations at any time, including as part of a merger, acquisition or other corporate reorganisation involving FaTPay, provided that this transfer or assignment does not materially impact the quality of the FaTPay Services you receive. Subject to the foregoing, this Agreement will bind and inure to the benefit of the parties, their successors and permitted assigns.
18.14 Invalidity. If any provision of this Agreement is determined to be invalid or unenforceable under any applicable law, this will not affect the validity of any other provision. If any provision is found unenforceable, the unenforceable provision will be severed, and the remaining provisions will be enforced.
18.15 We may not always strictly enforce our rights under this Agreement. If we do choose not to enforce our rights at any time, this is a temporary measure and we may enforce our rights strictly again at any time.
18.16 This Agreement and any information or notifications that you or we are to provide should be in English. Any translation of this Agreement or other documents is provided for your convenience only and may not accurately represent the information in the original English. In the event of any inconsistency, the English language version of this Agreement or other documents shall prevail.
18.17 Change of Control. In the event that FaTPay is acquired by or merged with a third party entity, we reserve the right, in any of these circumstances, to transfer or assign the information we have collected from you and our relationship with you (including this Agreement) as part of such merger, acquisition, sale, or other change of control.
18.18 All provisions of this Agreement which by their nature extend beyond the expiration or termination of this Agreement, including, without limitation, the Sections relating to suspension or termination, FaTPay Account cancellation, debts owed to FaTPay, general use of the Site, disputes with FaTPay, and general provisions will continue to be binding and operate after the termination or expiration of this Agreement.
18.19 This Agreement will be governed by, and construed in accordance with, the laws of Lithuania and, subject to any overriding legal requirements, the parties irrevocably submit to the exclusive jurisdiction of competent courts in Lithuania. This Agreement and any information or notifications that you or we are to provide should be in English.
18.20 If you have any feedback, questions, or complaints, you may contact us by sending an email to hi@fatpay.xyz.
Privacy Policy
FaTPay is committed to protecting the privacy of visitors to our websites and our customers. This Privacy Policy describes how we handle your personal data when you access our services, which include our content on the websites located at fatpay.xyz or any other websites, pages, features, or content we own or operate (collectively, the “Site(s)”), or any FaTPay API or mobile applications, or any third party applications relying on FaTPay API, and related services (referred to collectively hereinafter as “Services”).
If you have any questions about this Policy, please send them to support@fatpay.xyz
Changes to this privacy policy
We may modify this Privacy Policy from time to time. Please check the date at the bottom of this notice to see when it was last updated.
Personal Information we collect
Personal information means any data which relates to a living individual who can be identified from that data, or from that data and other information which is in the possession of, or is likely to come into the possession of, FaTPay (or its representatives or service providers). In addition to factual information, it includes any expression of opinion about an individual and any indication of the intentions of FaTPay or any other person in respect of an individual. The definition of personal information depends on the relevant law applicable to your physical location.
Information you provide to us
This includes information you provide to us in order to establish an account and access our Services. This information is either required by law (e.g. to verify your identity), necessary to provide the requested Services (e.g. you will need to provide your bank account number if you would like to link that account to FaTPay), or is relevant for our legitimate interests described in greater detail below.
The nature of the Services you are requesting will determine the kind of personal information we might ask for, but may include:
Information we collect automatically or generate about you
This includes information we collect automatically, such as whenever you interact with the Sites or use the Services. This information helps us address customer support issues, improve the performance of our Sites and applications, provide you with a streamlined and personalized experience, and protect your account from fraud by detecting unauthorized access. Information collected automatically includes:
Information collected from third parties
This includes information we may obtain about you from third party sources. The main types of third parties we receive your personal information from are:
Anonymized and aggregated data
In addition to the categories of personal information described above, FaTPay will also process anonymized information and data that is not processed by reference to a specific individual. Types of data we may anonymize include transaction data, click-stream data, performance metrics and fraud indicators.
How we use your personal information
We may use your information in the following ways and for the following purposes:
(i) To maintain legal and regulatory compliance
FaTPay needs to process your personal information in order to comply with anti-money laundering and security laws. In addition, when you seek to link a bank account to your FaTPay account, we may require you to provide additional information which we may use in collaboration with service providers acting on our behalf to verify your identity or address, and/or to manage risk as required under applicable law. We also process your personal information in order to help detect, prevent, and mitigate fraud and abuse of our Services and to protect you against account compromise or funds loss. If you do not provide personal information required by law, we will have to close your account.
(ii) To provide FaTPay's Services
We process your personal information to provide Services to you. Third parties that we use such as identity verification services may also access and/or collect your personal information when providing identity verification and/or fraud prevention services. In addition, we may need to collect fees based on your use of our Services. We collect information about your account usage and closely monitor your interactions with our Services. The consequences of not processing your personal information for such purposes is the termination of your account.
(iii) To provide communications and customer services
According to your preferences and in compliance with applicable law, we may send you marketing communications to inform you about events, to deliver targeted marketing and to share promotional offers. If you are a new customer, we will contact you by electronic means for marketing purposes only if you have consented to such communication. If you do not want us to send you marketing communications, please go to your account settings to opt-out or submit a request via support@fatpay.xyz
We may send you service updates regarding administrative or account-related information, security issues, or other transaction-related information. These communications are important to share developments relating to your account that may affect how you can use our Services. You cannot opt-out of receiving critical service communications.
We also process your personal information when you contact us to resolve any questions, disputes, collect fees, or to troubleshoot problems. Without processing your personal information for such purposes, we cannot respond to your requests and ensure your uninterrupted use of the Services.
(iv) To protect our legitimate business interests
Sometimes the processing of your personal information is necessary for our legitimate business interests, such as:
Legal bases for processing your information
For individuals located in the European Economic Area (EEA), United Kingdom (UK) or Switzerland at the time their personal data is collected, we rely on legal bases for processing your information under the relevant data protection legislation. These bases mean we will only process your data where we are legally required to, where processing is necessary to perform any contracts we entered with you (or to take steps at your request prior to entering into a contract with you), for our legitimate interests to operate our business, to protect FaTPay’s or your property rights, or where we have obtained your consent to do so. We will not use your personal information for purposes other than those purposes we have disclosed to you, without your permission.
Disclosing your personal information to third parties
We allow your personal information to be accessed only by those who require access to perform their contractual obligations owed to us and share it only with third parties who have a legitimate purpose for accessing it. FaTPay will never sell or rent your personal information to third parties without your explicit consent. We will only share your personal information with the following types of third parties:
Third-party sites and services
If you authorize one or more third-party applications to access your FaTPay Services, then information you have provided to FaTPay may be shared with those third parties. A connection you authorize or enable between your FaTPay account and a non-FaTPay account, payment instrument, or platform is considered an “account connection.” Unless you provide further permissions, FaTPay will not authorize these third parties to use this information for any purpose other than to facilitate your transactions using FaTPay Services. Please note that third parties you interact with, should have their own privacy policies and FaTPay is not responsible for their operations or their use of data they collect.
Examples of account connections include:
How we protect and store personal information
FaTPay implements and maintains reasonable measures to protect our information and information systems. Customer files are protected with safeguards according to the sensitivity of the relevant information. Reasonable controls (such as restricted access) are placed on our computer systems. Physical access to areas where personal information is gathered, processed or stored is limited to authorized employees.
We may store and process all or part of your personal and transactional information, including certain payment information, such as your encrypted bank account and/or routing numbers, in the European Union and elsewhere in the world where our facilities or service providers are located. We protect your personal information by maintaining physical, electronic, and procedural safeguards in compliance with the applicable laws and regulations.
As a condition of employment, FaTPay’s employees are required to follow all applicable laws and regulations, including in relation to data protection law. Access to sensitive personal information is limited to those employees who need it to perform their roles. Unauthorized use or disclosure of confidential customer information by a FaTPay employee is prohibited and may result in disciplinary measures.
When you contact a FaTPay employee about your file, you may be asked for some personal details. This type of safeguard is designed to ensure that only you, or someone authorized by you, has access to your file. You also play a vital role in protecting your own personal information. When registering with our Services, choose a password of sufficient length and complexity, don’t reveal it to any third-parties and immediately notify us if you become aware of any unauthorized access to or use of your account.
Retention of personal information
How long we hold your personal information for will vary. The retention period will be determined by the following criteria:
If you have further questions about our data retention practices, please contact us at support@fatpay.xyz
If we anonymize your personal information so that it can no longer be associated with you, it will no longer be considered personal information, and we can use it without further notice to you.
Children's personal information
We do not knowingly request to collect personal information from any person under the age of 18. If a user submitting personal information is suspected of being younger than 18 years of age, FaTPay will require the user to close his or her account and will not allow the user to continue using our Services. We will also take steps to delete the information as soon as possible. Please notify us if you know of any individuals under the age of 18 using our Services so we can take action to prevent access to our Services.
Cross border transfers
FaTPay is an international business with operations across the world. This means we may transfer data and information to locations outside of your country. When we transfer your personal information to another country, we will ensure that any transfer of your personal information is compliant with applicable data protection law.
Data transferred out of the EEA or UK
When we transfer your personal information outside of the United Kingdom (UK) or the European Economic Area (EEA), we will ensure that it is protected in a manner that is consistent with how your personal information will be protected by us in the UK and EEA respectively. This can be done in a number of ways, for instance:
In other circumstances the law may permit us to transfer your personal information outside the UK or EEA. In all cases, however, we will ensure that any transfer of your personal information is compliant with data protection law. You can obtain more details of the protection given to your personal information when it is transferred outside the UK or EEA by contacting us as described below.
Your privacy rights
Depending on applicable law of where you reside, you may be able to assert certain rights related to your personal information. These rights include:
You can exercise your rights by contacting us using the details listed below. Further information about your rights may be obtained by contacting the supervisory data protection authority located in your jurisdiction.
How to contact us
If you have questions or concerns regarding this Privacy Policy, or if you have a complaint, please contact us at support@fatpay.xyz
Privacy Policy last updated: Jun, 2022
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Use of third-party cookies
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More information
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