Terms and Conditions

Last Updated: 5/22/2025

WELCOME TO YAFPAY

This contract is between you and YafPay (YafPay, we, us, or our as applicable), and covers all aspects of your use of our Services, which include the website, app and any other materials produced by YafPay. These terms apply in full force and when you create a YafPay Account, access our Services, or otherwise interact with us, you agree to be bound by this Agreement and agree to receive communication relating to the Services or your YafPay Account in electronic format.

It is essential that you read and understand all the terms of each of our policies as well as all the other agreements that are applicable to you. For certain Services, we may have additional terms and conditions that we will communicate to you through the Service or by other means, and these supplementary terms and conditions shall be included in this Agreement.

PURPOSE AND SCOPE OF AGREEMENT

This Terms of Service is an Agreement between you and YafPay. It sets forth the terms and conditions that shall govern the use of the Platform and the services. It details YafPay obligations to you. It also highlights certain risks on using the services and you must consider such risks carefully as the provision of this Agreement will bind you through your use of this website or any of our services.

Our Services permit you to move money in supported currencies, send or receive money into your YafPay Balance, keep amounts in your YafPay Balance, convert currency balances to balances in other supported currencies, pull out funds held in your YafPay Balance, and send funds to recipients. We carry the sole authority to refuse to accept any user or to complete any command to transmit, receive, send, withdraw or convert money held in your YafPay Account at any time.

REGISTRATION

  • To use YafPay, you have to create a YafPay account by registering. To register, you will provide us with certain information such as your email, first name, last name, business name and phone number and we may seek to verify your information, (by ourselves or through third parties), after which we will approve your account unless deemed risky. You permit us to do all these.
  • In the event that you change any information provided to us at registration including your business name, address, financial institution, mode of payments or the products and services that you offer, or where a corporate restructuring occurs, You agree to notify us within 14 days of such change. We may be unable to respond to you if you contact us from an address, telephone number or email account that is not registered with us.

GETTING TO KNOW YOU

We are required by law to carry out all necessary security and customer due diligence checks on you (including any parties involved in your transaction e.g. your recipient) in order to provide any services to you. You agree to comply with any request from us for further information and provide such information in a format acceptable to us. In addition, you agree that we may make, directly or through any third party, any inquiries we consider necessary to validate the information you provided to us. This may include calling you to verify your registration data and ordering a credit report.

ACCOUNT SECURITY

You are solely responsible for maintaining adequate security and control of any email IDs, passwords, or other details you use to access your YafPay Account and Services. You agree not to allow anyone else to have or use your password details and comply with all reasonable instructions regarding account access and security. In the event you share your password details, YafPay will not be liable to you for losses or damages. You will also take all reasonable steps to protect the security of the device through which you access YafPay services.

We recommend that you do not access your YafPay Account from a public computer, a non-secure or shared computer. You are advised to sign out each time you have used the YafPay services.

Contact us immediately if:

  • anyone asks for your password, OTP or any other security-related aspect of your YafPay Account.
  • your email address becomes compromised.
  • you suspect your YafPay Account or login details including your password or any other security features are stolen, lost, used without authorization or otherwise compromised.
  • your transaction history for your YafPay Account shows transactions that you did not initiate.

We may suspend your YafPay Account or otherwise restrict its functionality if we have concerns about the security of the YafPay Account or any of its security features; or potential unauthorized or fraudulent use of your YafPay Account or any of its security features.

AGE RESTRICTION

Our website and services are directed to people aged 18 and above. You are only permitted to use the Services if you are 18 or older. We do not knowingly engage people younger than the age of 18.

TRANSACTIONS, SERVICES AND PAYMENTS

You can deposit money to your YafPay Account through one or more methods such as bank transfer (ACH, wire or swift, FPS or Chaps, SEPA transfers etc.), credit cards or debit cards. The number of methods available to you will depend on a number of factors. Deposits into your YafPay account are provided by third parties, for example, the card provider which issued your credit or debit card. We cannot guarantee the use of any particular deposit method and when appropriate, we may restrict the methods available to you.

We will credit your YafPay Account once we have received your deposit, and we are only responsible for the funds deposited once we have received it. In certain instances, you may be asked to provide us with evidence of source of funds in order for us to meet our regulatory requirements, in which case you agree to provide that evidence promptly. You represent and warrant to us that the evidence you provide to us is up to date, complete and accurate.

YafPay is not a bank and banking services are provided by third party partner banks. The specified bank account details that we provide to you in order for you to receive funds from third parties are for accounts held by YafPay (and we will credit your YafPay Account, which is held by us, upon receipt of such funds), and are not for a bank account held by you. Funds held by YafPay are not insured by the Federal Deposit Insurance Corporation (FDIC) or any other deposit protection scheme. A YafPay Account is not a bank account.

You must ensure that the information you provide to us when you send or withdraw money is accurate. Once a transaction is processed, it cannot be reversed (except where and to the extent, required by applicable law) and except as expressly set forth in this Agreement, we will not be liable in any way for any loss you suffer as a result of a transaction being carried out in accordance with your instructions (or a third party acting on your behalf).

VIRTUAL CARDS

YafPay provides Virtual Cards in conjunction with its bank account.

In the event that you initiate two repeated transactions with insufficient funds using the YafPay card, our system will detect and flag your account, resulting in a temporary freeze of the card functionality. Should this particular scenario repeat for a consecutive total of four instances, the card will be subject to immediate termination.

Please be aware that if you request a new card subsequent to the termination or deletion of a previous card, a new card creation fee will apply.

INTELLECTUAL PROPERTY

Unless otherwise stated, YafPay and/or its licensors own the intellectual property rights and materials on the website subject to the license below. All text, formatting (including without limitation the arrangement of materials on the YafPay website and the graphics, animation, tools, commercials, music, video, articles, sound, copy, trade names, logos and other materials and information on the website are subject to the intellectual property rights of YafPay and its affiliates and their respective licensors.

CONFIDENTIAL INFORMATION

The parties acknowledge that in the performance of their duties under this Agreement, either party may communicate to the other (or its designees) certain confidential and proprietary information, including without limitation information concerning each party services, know-how, technology, techniques, or business or marketing plans (collectively, the Confidential Information) all of which are confidential and proprietary to, and trade secrets of, the disclosing party. Confidential Information does not include information that: (i) is or becomes generally available to the public other than as a result of a disclosure by the receiving party; (ii) becomes available to the receiving party on a non-confidential basis from a source other than the disclosing party, provided that such source is not bound by a confidentiality agreement with the disclosing party; or (iii) is independently developed by the receiving party or the receiving party employees without access to the Confidential Information.

DISCLAIMERS

YAFPAY WILL TRY TO ENSURE THAT THE WEBSITE IS AVAILABLE AT ALL TIMES AND BUG-FREE. HOWEVER, IT IS USED AT YOUR OWN RISK.

OUR WEBSITE AND SERVICES ARE PROVIDED AS IS WITHOUT ANY EXPRESS, IMPLIED AND/OR STATUTORY WARRANTIES (INCLUDING, BUT NOT LIMITED TO, ANY IMPLIED OR STATUTORY WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, TITLE, AND NON-INFRINGEMENT OF INTELLECTUAL PROPERTY RIGHTS). WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, YAFPAY MAKES NO WARRANTY THAT OUR WEBSITE AND SERVICES WILL MEET YOUR REQUIREMENTS OR THAT OUR WEBSITE WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR FREE.

CONTACT INFORMATION

If you have any questions about these Terms, please contact us at hello@yafpay.com.