EU Payment Rights

1.1.

This EU Payment Rights Statement (the “Statement”) sets out the rights and protections available to customers using the payment and remittance services provided by PayFarGo (“Company”, “we”, “our”, or “us”).

1.2.

This Statement is issued in accordance with applicable European payment services and consumer protection laws, including the principles embodied under the Second Payment Services Directive (PSD2), applicable anti-money laundering regulations, data protection laws, and related regulatory requirements governing electronic payment services and cross-border remittance transactions.

1.3.

This Statement explains:

• your rights when using our services;
• our obligations as a payment service provider;
• how payments are processed;
• how complaints are handled; and
• the protections available to you in relation to unauthorized or incorrectly executed transactions.

2.1.

Where applicable, the Company operates in partnership with regulated financial institutions and payment service providers in relevant jurisdictions.

3.1.

The Company provides digital financial and payment services, including:

• international money transfers from markets including the EU, USA, UK, UAE, Canada, and Australia;
• cross-border remittance services;
• foreign exchange conversion;
• merchant settlement solutions;
• digital wallet services;
• payout and collection services;
• virtual account solutions; and
• related payment processing services.

3.2.

Services may vary depending on customer location, applicable law, and regulatory permissions.

4.1.

Customers are entitled to fair, transparent, secure, and timely payment services. As a customer, you have the right to:

• receive clear information regarding fees and charges;
• receive information regarding applicable exchange rates;
• obtain confirmation of payment transactions;
• dispute unauthorized or incorrectly executed transactions;
• request refunds in applicable circumstances;
• access complaints and dispute resolution procedures; and
• receive support relating to payment inquiries.

5.1.

A payment transaction will only be processed where:

• you have properly authorized the transaction;
• all required payment details have been supplied;
• applicable compliance checks have been completed; and
• the transaction complies with applicable law.

5.2.

Authorization may occur through:

• password authentication;
• multi-factor authentication;
• PIN verification;
• biometric confirmation; or
• other secure authentication methods.

5.3.

Once authorized and processed, transactions may become irrevocable except where applicable law permits cancellation.

6.1.

The Company shall use reasonable efforts to process payment transactions within applicable timelines. Execution time may depend on:

• destination country;
• intermediary financial institutions;
• compliance screening requirements;
• banking infrastructure; and
• public holidays or operational disruptions.

Estimated execution timelines shall be communicated before transaction confirmation, where possible.

7.1.

Prior to transaction confirmation, customers shall be informed of:

• applicable transfer fees;
• service charges;
• exchange rates;
• currency conversion margins;
• third-party deductions; and
• any applicable taxes.

Exchange rates may fluctuate based on market conditions and may include a disclosed spread or margin.

7.2.

Customers are encouraged to review all transaction details carefully before authorizing payments.

8.1.

If you believe a transaction was unauthorized, incorrectly executed, duplicated, or affected by error, you must notify us immediately upon becoming aware of the issue.

8.2.

Upon notification, the Company shall:

• investigate the transaction;
• determine whether unauthorized activity occurred;
• take reasonable corrective measures where appropriate; and
• provide updates regarding the investigation outcome.

Subject to applicable law, customers may be entitled to reimbursement for unauthorized transactions unless the customer acted fraudulently, there was gross negligence, security credentials were intentionally compromised, or reporting obligations were not complied with.

9.1.

Customers are responsible for:

• maintaining confidentiality of login credentials;
• safeguarding devices used to access services;
• ensuring transaction information is accurate;
• notifying us promptly of suspicious activity; and
• complying with applicable laws and sanctions restrictions.

The Company shall not be liable for losses resulting from customer fraud, willful misconduct, or material breach of security obligations.

10.1.

Refund eligibility depends on:

• the nature of the transaction;
• whether funds have already been received;
• applicable legal obligations; and
• the circumstances surrounding the payment.

11.1.

The Company is committed to complying with all applicable:

• anti-money laundering (“AML”) laws;
• counter-terrorism financing (“CTF”) laws;
• sanctions regulations; and
• know-your-customer (“KYC”) obligations.

11.2.

Accordingly, the Company reserves the right to:

• request identity documentation;
• conduct verification checks;
• delay or reject transactions;
• freeze transactions where required by law; and
• report suspicious activity to competent authorities.

12.1.

The Company processes personal information in accordance with applicable data protection laws, including principles reflected under the General Data Protection Regulation.

12.2.

Personal data may be processed for:

• transaction execution;
• identity verification;
• fraud prevention;
• regulatory compliance;
• customer support; and
• service improvement.

12.3.

Customer information may be shared with:

• banking partners;
• payment processors;
• compliance vendors;
• regulators; and
• law enforcement authorities where legally required.

13.1.

The Company may suspend, restrict, or terminate access to services where:

• fraud is suspected;
• regulatory concerns arise;
• sanctions issues are identified;
• required information is not provided;
• unlawful activity is suspected; or
• the customer breaches applicable terms.

Where practicable, notice of such actions shall be provided.

14.1.

Customers may submit complaints through the following channels:

14.2.

The Company shall acknowledge complaints within 5 business days and seek to resolve complaints within a reasonable timeframe. If a customer is dissatisfied with the outcome, the complaint may be escalated to the relevant regulatory authority, financial ombudsman, or dispute resolution body, where applicable.

15.1.

To the fullest extent permitted by law, the Company shall not be liable for losses arising from:

• events beyond its reasonable control;
• intermediary banking failures;
• customer negligence;
• incorrect beneficiary information;
• telecommunications failures; or
• legal restrictions affecting payment execution.

15.2.

Nothing in this Statement excludes liability that cannot lawfully be excluded.

16.1.

This Statement shall be governed by and construed in accordance with the revised Payment Services Directive laws (PSD2) Directive (EU) 2015/2366.

16.2.

Where mandatory consumer protection laws apply in a customer’s jurisdiction, such rights shall remain unaffected.

17.1.

The Company reserves the right to amend this Statement from time to time to reflect:

• legal or regulatory developments;
• operational changes;
• product enhancements; or
• risk management requirements.

Updated versions shall be published on the Company’s website.