End-User Terms of Service
Terms relating to the payment initiation service we provide
Last Updated: 31 May 2022
1.1. We are Acquired Limited (further details below). These terms govern the payment initiation service that we provide to persons (“you”) who wish to purchase goods and/or services from a business that has integrated our payment initiation software onto their website or application (“Merchant”).
1.2. Our payment initiation service allows you to instruct a payment using our payment initiation software from a payment account you hold with a payment service provider (such as a bank) (“PSP”) to a payment account belonging to a Merchant.
1.3. Each time that you use our payment initiation service:
1.3.1. you will be provided with a link to these terms; and
1.3.2. you will be deemed to have read and have agreed to these terms by continuing to use our payment initiation service.
Please be sure to read these terms carefully each time you use our payment initiation service as they may vary between each use of our payment initiation service. You may request a copy of these terms via email to firstname.lastname@example.org
1.4. All communications between you and us shall be in English only. These terms are concluded in English – if you are reading a non-English version, please note that this is provided for reference only and that the English version is the version which applies.
2. Who we are
2.1. Acquired Limited is a private limited company incorporated in England and Wales, with company number 09660317 and registered office address at 44 Baker Street, London, England, W1U 7AL.
2.2. We are:
2.2.1. registered with the Financial Conduct Authority under the Payment Services Regulations 2017 (with firm reference number 910612) for the provision of payment initiation services; and
2.2.2. registered with the Financial Conduct Authority as an EMD Agent (with firm reference number 902751) of PayrNet Limited. PayrNet Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 (with firm reference number 900594) for the issuing of Electronic Money.
2.3. We are registered with the Information Commissioner’s Office as a data controller with registration number ZA155069.
3. Further details of our payment initiation service
3.1. As part of our payment initiation service, you will choose the PSP you want to make the payment from and we will direct you to your PSP’s secure login within their website or application. Once you have passed through your secure login, you will be asked to review and confirm the details of the payment you want your PSP to execute, which will include the amount and currency of the money you wish to send to the Merchant’s payment account together with the details of the Merchant’s payment account. It is essential that you check that these details are correct. If you are concerned that these details are not correct, you are advised not to proceed with the payment until you are sure. You should check the amount and currency of the money you want to send to the Merchant and the details of the Merchant’s payment account before instructing the payment. If you have entered incorrect details you should contact your PSP as soon as possible. We will not be held liable for any losses you incur as a result of you providing your PSP with a payment order which is incorrect, even where the details of the payment were pre-populated.
4.1. When authorising your payment, your PSP may require you to provide strong customer authentication, which might include two factor authentication (for example, a password and a biometric credential).
4.2. We, or the Merchant, will provide confirmation of the successful initiation of the payment.
4.3. We will never request any login or security details from you or any third party, including your PSP, nor will we ever be able to see or access this information.
5. Charges for the payment initiation service
5.1. We shall not charge you for your use of our payment initiation service. Merchants pay us for allowing them to integrate our payment initiation software on their website and/or application thereby making our payment initiation service available to persons such as you.
5.2. Your PSP may charge you for executing a payment in accordance with its terms with you. Merchants will charge you for the goods and/or services they are providing you with..
6. When you use our payment initiation service
6.1. By using our payment initiation service, you confirm that the information that you provide is accurate, complete, and up-to-date. You must not use our payment initiation service for any unlawful purpose or in a manner which is inconsistent with these terms.
7. Who is responsible if things go wrong and to what extent?
7.1. From time to time, our payment initiation service might not be available. We shall not be liable to you for any losses you sustain as a result of our payment initiation service being unavailable.
7.2. Your PSP responsible for executing payments from your payment account. These payments will be subject to separate terms and conditions between you and your PSP.
7.3. We are not responsible for any of the goods and/or services provided to you by the Merchant which are subject to separate terms and conditions.
7.4. We are not liable for any loss and/or damages that is not reasonably foreseeable, such as any act, omission, event, matter, cause, contingency or circumstance beyond our reasonable control
7.5. We are not liable for any indirect or consequential losses (including loss of profits, loss of revenue or financial losses) incurred by you or any third parties.
7.6. If you notice any suspicious behaviour or transactions on your payment account, please contact your PSP who will properly investigate such behaviour. We are not responsible to you for any damage or loss incurred by unauthorised payments from your payment account.
7.7. We are not responsible for any loss you incur due to your failure to comply with these terms.
8. Intellectual Property
8.1. We retain all ownership, title and intellectual property rights in our payment initiation service, our payment initiation software, our website and our technology and no ownership rights, title or intellectual property rights transfer to you or any third party by virtue of these terms or your use of our payment initiation service. If you choose to give us feedback or suggestions about any part of our payment initiation service, our payment initiation software, website or technology, we may use them without any limitations.
9.1. We want you to get the most out of our payment initiation service and we will use reasonable skill and care in providing you with our payment initiation service. Aside from this, our payment initiation service (and any other service we provide you) is provided to you on an “as is” and “as available” basis. Other than as expressly set out in these terms or implied by consumer law, we do not make any particular commitments or promises to you about our payment initiation service. For example, we do not promise that the functions of our payment initiation service, or its reliability or availability will be suitable for your needs. This does not affect your statutory rights. To the extent permitted by applicable law, we exclude all warranties not set out in these terms.
10. Do we have to provide you with our payment initiation service?
10.1. No. We may choose to not provide you with the payment initiation service for any reason and we shall not be held liable for any losses you incur as a result.
11.1. If you feel that we have not met your expectations in the delivery of our payment initiation service or if you think we have made a mistake, please let us know. You may let us know by email to email@example.com. We have internal procedures for handling complaints fairly and promptly. A copy of our complaints procedure is available upon request.
11.2. If you are still not happy once we have responded to your complaint, there are options open to you. If you are an eligible complainant (i.e. you are acting for purposes which are wholly or mainly outside your trade, business, craft, or profession) and your complaint falls within the Financial Ombudsman Service’s jurisdiction, you may be able to take your complaint to the Financial Ombudsman Service. Further information on eligibility criteria and the procedures involved in referring your complaint to the Financial Ombudsman Service are available on the following weblink (http://www.financial-ombudsman.org.uk).
11.3. If you are not an eligible complainant (i.e. you are acting for purposes which are wholly or mainly related to your trade, business, craft, or profession) or your complaint does not fall withing the Financial Ombudsman Service’s jurisdiction or you do not wish to refer your complaint to the Financial Ombudsman Service, you may refer your complaint to the courts, should you not be satisfied with our final response to your complaint.
12.1. What are our obligations of confidentiality? We shall keep your confidential information (such as your name) confidential and shall not use such confidential information except for the purpose of exercising or performing our rights and obligations under these terms and complying with our legal obligations. Please note that we may disclose confidential information to:
12.1.1. our staff and any partners we work with, provided that we ensure that they keep it confidential;
12.1.2. the extent required by law or by any governmental or other regulatory authority or by a court or other authority of competent jurisdiction;
12.1.3. third parties which we work with to provide you with our services and with the aim of preventing fraud, provided that they are subject to similar duties relating to confidentiality as are set out in this section.
12.3. Do we provide advice? No. You must rely entirely on your own judgement or the judgement of separate advisers when using our services.
12.4. What if we or you delay in taking action under these terms? If you or we have breached these terms and don’t enforce our rights, or delay in enforcing them, this will not prevent you or us from enforcing those or any other rights at a later date.
12.5. If a court finds part of these terms illegal, will the rest continue in force? Yes. Each of the sections of these terms operate separately. If any court or relevant authority decides that any of them are unlawful, the remaining sections will remain in full force and effect.
12.6. Does anybody else have any rights under these terms? No. This contract is between you and us. No other person shall have any rights to enforce any of its terms.
12.7. Where can we bring a dispute? These terms are governed by the laws of England. The courts of England and Wales will have exclusive jurisdiction (except as set out in section 12.8 and 12.9) to settle any dispute or claim or other matter that arises out of or in connection with these terms or their subject matter or formation (including non-contractual disputes or claims).
12.8. In addition to section 12.7, if you are a consumer that:
12.8.1. lives in Scotland, you can bring legal proceedings in either the English or Scottish courts;
12.8.2. lives in Northern Ireland, you can bring legal proceedings in either the English or Northern Irish courts.
12.9. Entire Agreement. These terms constitute the entire agreement between you and us with respect to our payment initiation service and supersede and supplant all previous agreements in relation to our payment initiation service. Any terms applied in relation to additional services provided by us to you shall be deemed as separate and not affected by the terms.
13. Contact Us
If you have any questions about these terms, please contact us by email at firstname.lastname@example.org