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Legal

Table of Contents

Terms of Use

Direct Services Agreement

End Customer Terms

Financial Partner Terms

Direct Debit Terms

Verify Terms of Service

Privacy

Customer Protection Principles

Licenses and Registrations

Prohibited and Restricted Businesses

Verify Terms and Conditions

  1. General.
    1. The Verify Service. Subject to payment of fees and these Verify Terms and Conditions (“Terms”), if permitted by the Platform Provider via the Platform, we agree to enable you to use the Verify Service (as defined blow).
    2. We may decline to provide the Verify Service. We may, in our sole discretion and for any reason, refuse to provide Verify Service to you. Except to the extent restricted by applicable law or contract, we will inform the Platform Provider of the reasons for any such refusal.
  2. Definitions. The following definitions apply in these Verify Terms and Conditions:
    1. “Affiliate” means any entity which Controls or is Controlled by or under common Control with or by a Party.
    2. “Applicable Laws” means any of the following to the extent that it applies to this Agreement and/or the provision or receipt of the Verify Service to or by a Party (including, without limitation, any regulatory obligations applicable to one Party with which the other Party is required to comply):
      1. any law or regulation in the relevant jurisdiction applicable to a Party and/or the Verify Service from time to time; or
      2. the operating rules, regulations and guidelines and technical standards promulgated from time to time by any organization; and
      3. the Data Protection Laws.
    3. “Customer Data” means any electronic data and information submitted by you in the course of accessing and using the Verify Service, which for the avoidance of doubt may include Personal Data.
    4. “Data Protection Laws” means:
      1. the Personal Data Protection and Electronic Documents Act, S.C. 2000, c. 5 of Canada;
      2. the Personal Data Protection and Electronic Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation), Act, S.C. 2000, c. 5 of Canada;
      3. the Singapore Personal Data Protection Act 2012;
      4. the Data Protection Act 2018 in the UK and the ‘UK GDPR’, as defined in section 3(10) (as supplemented by section 205(4)) of the Data Protection Act 2018;
      5. the California Consumer Privacy Act of 2018 and the California Privacy Rights Act of 2020;
      6. the Privacy and Electronic Communications Regulations 2003 (SI 2003/2426) any laws or regulations implementing the Privacy and Electronic Communications Directive 2002/58/EC;
      7. any laws and regulations that replace, extend, re-enact, consolidate or amend any of the foregoing whether or not before or after the date of the Agreement from the date they come into force; and
      8. the guidance and codes of practice issued by any relevant data protection regulator and applicable to a Party.
    5. “Documentation” means Nium’s product support documentation, API documentation, and applicable pages on its website, as updated by Nium from time to time.
    6. “End User” means the individual or business that is your customer or prospective customer and the account holder whose details are being verified by you using the Verify Service.
    7. “Party” means a party to these Terms and “Parties” means both parties to these Terms.
    8. “Personal Data” means any information that (a) identifies or relates to an individual or an End User who can be identified directly or indirectly from that data alone or in combination with other information in a Party’s possession or control or that such Party is likely to have access to, or (b) any other information that is defined as “personal information” or “personal data” under all applicable Data Protection Laws.
    9. “User” means any person employed or engaged by you or your Affiliates or their subcontractors from time to time to access the Verify Service on your behalf.
    10. “Verify Service” any hosted account verification service provided by Nium and any Documentation related to such service, including any upgrades, modified versions, bug fixes, or updates to such service, that allows you to check account details and names of End User(s) before initiating or collecting a payment.
  3. License. Nium hereby grants to you a limited, non-exclusive, non-sublicensable (other than to third-parties authorized to act on your behalf), and non-transferrable license to: (i) use the Verify Service in accordance with the Documentation (and subject to any other guidelines relating to the Verify Service as may be provided by Nium from time to time) solely for your own business purposes, and (ii) make a limited number of copies of the Documentation for internal use and only as necessary to support your use of the Verify Service, provided, that all copies retain Nium’s original proprietary legends and logos.
  4. Customer Obligations. You shall comply with all Applicable Laws, including those applicable to sharing and processing of Customer Data via the Verify Service.  You represent and warrant that you have obtained all applicable and necessary authorizations and consents and provided all necessary notices to share and process the Customer Data in connection with the use of the Verify Service. Further, You agree that your use of the Verify Service, including the provision and processing of any Customer Data in connection with the use of the Verify Service, shall be subject to Nium’s Global Privacy Policy. You are responsible for the accuracy, quality, and integrity of Customer Data provided in connection with the use of the Verify Service. Nium shall not be responsible for or undertake to verify the accuracy or completeness of the Customer Data.
  5. Customer Acknowledgement. You acknowledge and agree that:
    1. Nium is not facilitating the provision of any kind of consolidated account information service (which may be regulated in certain countries where you are receiving the Verify Services);
    2. Nium does not provide credit information services and/or credit references pursuant to regulations 89A and 89B of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, nor is Nium a “consumer reporting agency” or a “furnisher” of information to consumer reporting agencies, and the Verify Service provided by Nium is not a “consumer report,” as those terms are defined in the Fair Credit Reporting Act (“FCRA”), 15 USC 1681 et seq., its implementing regulations, and relevant state consumer reporting laws and regulations. The Verify Service may not be used in whole or in part as a factor in determining a consumer's eligibility for credit, insurance, employment, or any other permissible purpose under the FCRA; and any information about an End User disclosed to you in connection with the Verify Service does not result in Nium providing credit information services or credit references pursuant to Applicable Law; and
    3. the provision by Nium of the Verify Service (a) does not constitute a regulated activity and (b) is completely separate and independent of any regulated payment services the Customer may receive from time to time from any Nium Affiliates.
  6. Customer Representations and Warranties. You represent and warrant that:
    1. You will only use the Verify Service (including End User information derived therefrom) to verify the End User’s account details and for no other purpose, including to provide the End User with consolidated payment account information.
    2. You will not and will not permit or enable any third party to: (i) use the Verify Service (including End User information derived therefrom) in order to provide credit information services and/or credit references pursuant to Applicable Laws; or (ii) otherwise use the Verify Service and End User information such that they would be deemed to be providing credit information services and/or credit references under Applicable Laws, unless you or any relevant third party hold the requisite authorization pursuant to Applicable Laws to provide credit information services and/or credit references.

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