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These Terms of Service (“Terms”) apply to Rapyd Hosted Save Beneficiary Details Page (“Hosted Page”). These Terms are a legal agreement between Rapyd Financial Network (2016) Ltd and its subsidiaries and affiliates (together, “Rapyd” “we” or “us”) and you, the user of the Rapyd Hosted Page (“you”). By using the Hosted Page, you agree to be bound by these Terms. 

1. General

The Hosted Page enables our merchants (“Merchants”) to disburse funds to their beneficiaries – companies or individuals like you – by using Rapyd’s technology. When you access this Hosted Page, you will be required to submit personal data such as your full name and credit card/bank account details, and in different cases also your phone number, national ID and address  (“Payment Credentials”). Please note that by using the Hosted Page you also acknowledge our Privacy Policy which forms part of these Terms.

2. Using Hosted Page

When you share your details with a merchant that enables Rapyd Hosted Save Beneficiary Details Page, we collect and store certain personal data about you, such as your name, email address or your mobile phone number (“Rapyd Credentials”), along with your Payment Credentials. This information is used by the Merchant for disbursing funds to you.

3. Rapyd’s Role

The Hosted Page allows Rapyd to collect, tokenize (secure in a digital asset form) and transfer your Payment Credentials through a secure web so that the relevant Merchant can make payouts to you. If you wish so, your Payment Credentials will also be stored for recurring payouts .

Rapyd Hosted Page is only available for Merchants who have integrated it into their offering, but it doesn’t change anything else about your relationship with the Merchant – whether you are an employee, vendor, contractor etc. This means you are ultimately responsible for the information you provide when using Rapyd Hosted Page. The Merchant is responsible for disbursing funds to you (to the extent that you are entitled to such funds). Also note that any use of your Payment Credentials (and any other data you provide) by the Merchant, may be subject to the Merchant’s terms of use and privacy policy.

4. Cancellation of Payments

We may, for different reasons at our discretion or if instructed by Merchants, cancel a payout before it is completed, for example due to payout rejection or failures . Any such cancellations including disputes associated therewith can only be settled with the Merchant connected with your payouts. 

5. Mistakes

The Merchant is responsible for any mistakes and fees with connection to disbursement (e.g. payments which you think fall short of what is owed to you). In such cases, you will be required to contact your Merchant for any such issues and comply with their instructions. It is noted that in such cases, Rapyd will only act in accordance with the Merchant instructions. 

6. Representations and Warranties

By using Rapyd Hosted Page you represent and warrant that you are at least 18 years of age and that you will not use Rapyd Hosted Page for any fraudulent, unlawful or abusive purpose. You also warrant that the Payment Credentials you provided are true and accurate. 

7. Disclaimers

Rapyd Hosted Page, including all content, software, functions, materials, and information made available on, provided in connection with or accessible through Rapyd Hosted Page, are provided “as is.” To the fullest extent permissible by law, Rapyd, its affiliates, and their agents, merchants or independent contractors (the “Disclaiming Entities”), make no representation or warranty of any kind whatsoever for the services or the content, materials, information and functions made accessible by Rapyd Hosted Page, or for any breach of privacy or security associated with the transmission of data through Rapyd Hosted Page. Each Disclaiming Entity disclaims without limitation, any warranty of any kind with respect to the services, noninfringement, merchantability, or fitness for a particular purpose. The Disclaiming Entities do not warrant that the functions contained in the services will be uninterrupted or error free. The Disclaiming Entities shall not be responsible for any service interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of payment transactions. The Disclaiming Entities are not responsible for the accuracy of any payment instrument, offer, or reward program item information, including, without limitation, whether such information is accurate.

8. Limitations of Liability; Force Majeure

In no event shall any Disclaiming Entity be responsible or liable to you or any third party under any circumstances for any indirect, consequential, special, punitive or exemplary, damages or losses, including but not limited to damages for loss of profits, goodwill, use, data, or other intangible losses which may be incurred in connection with any Disclaiming Entity or the services, or any goods, services, or information purchased, received, sold, or paid for by way of the services, regardless of the type of claim or the nature of the cause of action, even if the Disclaiming Entity has been advised of the possibility of such damage or loss. In no event shall the Disclaiming Entities’ total cumulative liability arising from or relating to these Terms exceed $10 US dollars. Each party acknowledges that the other party has entered into these Terms relying on the limitations of liability stated herein and that those limitations are an essential basis of the bargain between the parties. In addition to and without limiting any of the foregoing, no Disclaiming Entity shall have any liability for any failure or delay resulting from any condition beyond the reasonable control of such party, including but not limited to governmental action or acts of terrorism, earthquake, fire, flood or other acts of God, labour conditions, power failures and Internet disturbances.

9. Governing Law

This Agreement is concluded in English.

This Agreement and any dispute or claim arising out of or in connection with it or its subject matter or formation (including non-contractual disputes or claims) will be governed by and construed in accordance with the laws of the jurisdiction in which the service is obtained.

10. Modification of Terms; Notices

We have the right to change or add to these Terms at any time, solely with prospective effect, and to change, delete, discontinue, or impose conditions on the use of Rapyd Hosted Page by posting such changes on our website or any other website we maintain or own. We may provide you with notice via email, postings on our website, or through other reasonable means. If you are an existing Rapyd Hosted Page user, the changes will come into effect 10 days after we post the changes to our website, and your use of Rapyd Hosted Page more than 10 days after we publish any such changes on our website constitutes your acceptance of the modified Terms. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of Rapyd Hosted Page.

11. Assignment

You may not assign these Terms or any rights or obligations hereunder, by operation of law or otherwise, without our prior written approval and any such attempted assignment shall be void. We reserve the right to freely assign these Terms and the rights and obligations hereunder, to any third party without notice or consent. Subject to the foregoing, these Terms shall be binding upon and inure to the benefit of the parties hereto, their successors and permitted assigns.

12. Survival

Upon termination of your use of Rapyd Hosted Page or termination of these Terms for any reason, in addition to this section, the following sections shall survive termination: Sections 6 through 13.

13. Miscellaneous

Security and Privacy. In order to protect your data held with us, we use industry-standard physical, procedural and electronic security measures. For more information please refer to our Privacy Policy

Failure. Rapyd’s failure to exercise or enforce any right or provision of the Terms will not be considered a waiver of that right or provision. 

Severability. If any provision of these Terms shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that these Terms shall otherwise remain in full force and effect and remain enforceable between the parties. 

Headings. Headings are for reference purposes only and in no way define, limit, construe or describe the scope or extent of such section. 

Entire Agreement. These Terms, including Rapyd’s policies governing Rapyd Hosted Page referenced herein, constitutes the entire agreement between you and Rapyd with respect to the use of Rapyd Hosted Page. 

Third Party Rights. These Terms are not intended and shall not be construed to create any rights or remedies in any parties other than you and Rapyd, and no other person will have the ability to assert any rights as a third party beneficiary under these Terms. 

Rapyd Rights. These Terms do not limit any rights that Rapyd may have under trade secret, copyright, patent or other laws.