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User Agreement

Last Updated: November 20, 2025

1. Description of Services

We provide financial services including, but not limited to:

  • Payment Service Provider (PSP) solutions
  • Acquiring services for processing card and alternative payment transactions
  • Payout services including settlement and disbursement of funds to users or merchants
  •  

Services may be expanded or updated from time to time. Access to specific services may depend on your jurisdiction, onboarding status, and compliance requirements.

2. Eligibility and Onboarding Requirements

To use our services, you must:

  • Be at least 18 years of age (or the legal age in your jurisdiction)
  • Provide accurate and complete personal and/or business information
  • Successfully pass all required KYC/KYB, AML, and risk assessments
  • Submit supporting documents such as identification, proof of address, corporate documents, and other compliance-related information
  • Not be in or associated with restricted or sanctioned jurisdictions
  •  

We reserve the right to reject, suspend, or terminate onboarding at any time if information provided is incomplete, inconsistent, or fails compliance checks.

3. Fees, Charges, and Foreign Exchange (FX) Rules

  • All applicable fees, commissions, and charges are disclosed in your commercial offer or fee schedule.
  • FX conversions, when applicable, are executed at market rates plus a margin as disclosed.
  • We reserve the right to update fees with prior notice.
  • All fees are non-refundable unless required by law.

4. Rights and Responsibilities (Merchant Obligations)

  • Use the services only for lawful business activities.
  • Ensure your transactions comply with applicable laws, including AML/CFT and sanctions regulations.
  • Provide accurate transaction information and notify us of any changes in your business model or risk profile.
  • Not engage in prohibited activities such as fraud, money laundering, unlicensed financial services, or high-risk/unapproved business operations.
  • Maintain the confidentiality of login credentials and ensure secure access to your account.
  • Cooperate with all compliance and audit requests.

 

We have the right to:

  • Monitor and review your activity for risk and compliance purposes.
  • Request additional documents at any time.
  • Block, freeze, or delay transactions suspected of fraud or non-compliance.
  • Suspend or restrict services if unusual or prohibited activity is detected.

5. Termination Clauses

We may terminate or suspend your access to services if:

  • You violate these Terms & Conditions
  • You fail compliance checks or refuse to provide required information
  • Fraudulent, suspicious, or prohibited activity is detected
  • Required by law enforcement, regulatory authorities, or sanctions lists
  • Your account remains inactive for an extended period
  • You may terminate your account by submitting a written request, provided all outstanding fees and obligations are settled.

6. Limitation of Liability

  • We are not liable for indirect, incidental, or consequential damages.
  • We are not responsible for losses arising from:
  • Delays caused by third-party banking partners or networks
  • Regulatory actions or compliance-related holds
  • Incorrect information provided by the user
  • Unauthorized access resulting from your failure to secure credentials
  • Our maximum liability is limited to the total fees paid by you in the preceding 3 months.
  • Nothing in this Agreement limits liability were prohibited by law.

7. Dispute Resolution

Any disputes must first be addressed through our internal support and complaint process.

If unresolved, disputes shall be handled by:

  • Canada: Office of the Privacy Commissioner of Canada
  • European Union/EEA: Your local supervisory authority under GDPR
  • United Kingdom: Information Commissioner’s Office (ICO)

8. Refund & Chargeback Policy

8.1 Refund Eligibility

Refunds may be issued only when:

  • A transaction was processed in error
  • A duplicate payment was made
  • The merchant approves the refund request
  • Required by applicable consumer protection laws

Refunds will not be processed if:

  • The transaction complies with the merchant’s service delivery
  • The request is fraudulent or unsupported by evidence
  • The merchant’s own refund policy does not allow refunds (unless overridden by law)

All refund requests are subject to compliance and risk review.

 

8.2 Refund Processing Timelines

  • Approved refunds are generally processed within 5–14 business days, depending on banking partners and card schemes.
  • International or cross‑border refunds may take longer due to currency conversion and intermediary bank handling.
  • Processing timelines may be extended during compliance reviews or investigations.

 

8.3 Chargeback Dispute Process

In the event of a chargeback:

  • The cardholder’s bank initiates the dispute.
  • We will notify the merchant and request supporting documents.
  • Merchants must provide required evidence (invoice, proof of delivery, communication logs, etc.) within the specified timeframe (typically 2–7 days).
  • Failure to submit evidence on time will result in the chargeback being automatically accepted.
  • We will forward the merchant’s evidence to the acquiring bank/card scheme for final review.
  • Final decisions are made by the issuing bank or card network and are outside of our control.
  • Chargeback fees may apply and are non‑

 

8.4 Merchant Responsibilities

Merchants must:

  • Maintain accurate documentation for every transaction
  • Provide clear refund and cancellation policies to customers
  • Respond to dispute requests within required deadlines
  • Ensure compliance with card scheme rules and local laws
  • Avoid excessive chargeback ratios, which may lead to account restrictions or termination

We reserve the right to hold settlements, increase rolling reserves, or suspend services if a merchant reaches high‑risk chargeback levels.

9. Complaints Handling Policy

9.1 How Customers Can File Complaints

Customers can file complaints through any of the following official channels:

  • Email: Support@yobpay.io
  • Live chat
  • Phone: +1 (437) 8861178

 

All complaints must include:

  • Full name or business name
  • Registered email or account ID
  • Description of the issue
  • Relevant evidence or documents

 

9.2 Response Timelines

  • We acknowledge receipt of complaints within 2 business days.
  • Standard resolution time is 10–15 business days.
  • Complex matters (compliance, banking partner issues, regulatory cases) may take longer; customers will be informed of delays and updated timelines.

 

9.3 Escalation Path

If the customer is not satisfied with the initial response:

  • The case can be escalated internally to a Senior Support Specialist.
  • If still unresolved, the matter will be escalated to the Compliance Department.
  • Final internal escalation is to the Chief Compliance Officer (CCO) or designated senior management.
  • The customer will receive instructions on how to escalate during each stage.

 

9.4 Regulator Contact

If your jurisdiction requires regulatory oversight, customers may escalate unresolved complaints externally to the relevant authority.

Authority Name: Bank of Canada (regulates PSPs under the Retail Payment Activities Act – RPAA)

Website: https://www.bankofcanada.ca
Complaint Submission Link: https://www.bankofcanada.ca/retail-payments-activities/complaints
Contact: https://www.bankofcanada.ca/contact

 

9.5 Record Keeping

We maintain complete records of all complaints, communications, and resolutions for auditing and regulatory compliance.

 

9.6 Fair Treatment Commitment

We ensure all complaints are handled objectively, transparently, and without discrimination, in line with applicable regulations.

10. Submitting a Complaint

Users and merchants may submit complaints regarding our services through the following channels:

  • Email: Support@yobpay.io
  • Live chat
  • Compliance email: aml@yobpay.io

 

Complaints must include:

  • Full name or business name
  • Account ID or registered email
  • Detailed description of the issue
  • Supporting documents, if any

11. Acknowledgement of Complaints

  • We will acknowledge receipt of the complaint within 2 business days.
  • If additional information is required, we will contact the complainant.

12. Investigation & Resolution Timelines

  • Standard complaints are reviewed and resolved within 10–15 business days.
  • Complex cases (e.g., regulatory, technical, or third‑party banking issues) may require additional time.
  • If more time is needed, the complainant will be informed of the delay and expected resolution timeframe.

13. Outcome & Response

Once the investigation is complete, we will provide a formal response including:

  • The results of our review
  • Any corrective measures taken
  • Final decision or next steps

14. Escalation Procedure

If the complainant is not satisfied with the outcome:

  • The case may be escalated internally to a senior compliance officer or relevant department.
  • If still unresolved, the complainant may seek resolution through arbitration, mediation, or a regulatory authority, depending on applicable laws and jurisdiction.

15. Record Keeping

  • We maintain records of all complaints, investigations, and resolutions for regulatory and auditing purposes.
  • This policy ensures transparency, fairness, and timely handling of all user and merchant concerns.

16. Risk Disclosure Statement

This statement highlights key risks associated with financial transactions:

  • Financial Risks: All transactions carry the possibility of loss due to market changes, operational errors, or unforeseen events.
  • Settlement Delays: Transactions may not settle immediately; delays can happen due to banking procedures, regulatory checks, or technical issues.
  • FX Volatility: For cross-currency transactions, exchange rates can fluctuate between the initiation and settlement of payment, affecting the final amount.
  • Fraud and Chargebacks: Merchants may be exposed to fraudulent payments or chargebacks, which can result in financial losses. Proper monitoring and risk management are advised.

17. Security Policy

Our approach to safeguarding data and financial information includes:

  • PCI-DSS Compliance: We comply with the Payment Card Industry Data Security Standards to ensure secure handling of cardholder data.
  • Encryption Standards: Sensitive information is encrypted during storage and transmission using industry-standard methods.
  • Data Protection: Personal and financial data is protected against unauthorized access and handled according to privacy regulations.
  • Incident Management: We have procedures to detect, respond to, and mitigate security incidents, minimizing risk and ensuring timely resolution.