Terms of Service
These terms govern the relationship between Paytone and the businesses that use our payment orchestration platform, developer tools, dashboards, and supporting services.
By accessing or integrating Paytone, your organization agrees to these Terms of Service. They describe the commercial, technical, and legal expectations that apply to both parties and form a binding agreement once your account is activated.
1. Introduction
These Terms of Service (the "Terms") are entered into between NEW WAGE TECHNOLOGIES LTD, a private limited company incorporated in the Republic of Cyprus under registration number HE 449912, with its registered office at Pavlou Valdaseridi 2A, Floor 1, 6018 Larnaca, Cyprus (trading as "Paytone", and referred to as "Paytone", "we", "us", or "our"), and the legal entity that registers for an account or accesses our services ("Customer", "you", or "your"). By creating an account, signing an order form, or otherwise using the platform, you accept these Terms in full.
The Services are offered solely to legal entities and their authorized representatives for business use. They are not intended for, and may not be used by, consumers within the meaning of the Cyprus Consumer Protection Law of 2021 (Law 112(I)/2021) or equivalent consumer-protection legislation in other jurisdictions. If you are accepting these Terms on behalf of an organization, you represent that you have the authority to bind that organization. If you do not have such authority, you must not access or use the services.
Paytone provides payment orchestration, routing, and related technology services. NEW WAGE TECHNOLOGIES LTD is not a credit institution, payment institution, electronic-money institution, or otherwise an authorized payment service provider under the Cyprus Provision and Use of Payment Services and Access to Payment Systems Law of 2018 (Law 31(I)/2018) or Directive (EU) 2015/2366 (PSD2). Paytone does not hold customer funds, does not execute payment transactions on its own account, and does not act as a regulated intermediary. Payment, settlement, and money-handling services are performed by licensed third-party Providers connected through the Platform; the legal relationship for those services is between the Customer and the relevant Provider.
2. Definitions
- Platform means Paytone's payment orchestration software, APIs, dashboards, SDKs, and related infrastructure.
- Services means access to the Platform and any supporting onboarding, integration, or support services provided by Paytone.
- Transaction means a payment, refund, payout, or related instruction processed through the Platform.
- Provider means a third-party acquirer, payment service provider, or alternative payment method connected through the Platform.
- Customer Data means data submitted by or on behalf of the Customer to the Platform.
3. Account & registration
To use the Services you must register an account and provide accurate identifying information about your business, beneficial owners, and authorized representatives. You agree to keep this information current and to notify us of material changes within a reasonable period.
You are responsible for safeguarding API keys, credentials, and user access. Any activity performed under your account is deemed to be performed by you, and you remain accountable for the actions of users you authorize.
4. Services & access
Subject to these Terms and any applicable order form, Paytone grants you a non-exclusive, non-transferable right to access and use the Platform for your internal business purposes. We may update the Services from time to time, including by adding, modifying, or deprecating features, on reasonable notice where the change is material.
Some features depend on third-party Providers. Your use of those features is subject to the terms of the relevant Provider, and Paytone is not responsible for actions, decisions, or outages of third parties outside our control.
5. Acceptable use
You agree not to use the Services to process Transactions in connection with activities that are unlawful in any applicable jurisdiction, that violate sanctions or anti-money-laundering rules, or that are otherwise prohibited by our underlying Providers or card-scheme rules. Specifically, you must not:
- Process Transactions for prohibited goods or services, including those identified in our published acceptable-use list.
- Attempt to reverse-engineer, decompile, or interfere with the security or integrity of the Platform.
- Use the Services to evade fees, scheme rules, or regulatory obligations.
- Submit data containing malware, harmful code, or unlawful content.
We may suspend access where we reasonably believe these obligations are being breached or where suspension is required to protect the Platform, our Providers, or other customers.
6. Fees, billing & refunds
Fees for the Services are set out in your order form or the pricing schedule in effect at the time of activation. Unless otherwise agreed, invoices are issued monthly in arrears and payable within thirty (30) days of issue. All fees are stated exclusive of value-added tax and other applicable transaction taxes, which will be added where due (Cyprus VAT is currently charged at the standard rate of 19% where applicable; intra-EU B2B supplies may be subject to the reverse-charge mechanism on production of a valid VAT number).
Amounts not paid when due may accrue interest at the statutory rate prescribed by the Cyprus Combating of Late Payment in Commercial Transactions Law of 2012 (Law 123(I)/2012), implementing Directive 2011/7/EU, or at such other rate as may be agreed in the order form. Refunds of Paytone fees are not provided for periods already invoiced, except where expressly required by law or by these Terms. Pass-through Provider and scheme fees are non-refundable.
7. Confidentiality
Each party may receive confidential information of the other in the course of using the Services. Confidential information will be used only to perform under these Terms, protected with at least the same care used for your own confidential information, and disclosed only to personnel or advisers with a legitimate need to know who are bound by equivalent obligations.
8. Intellectual property
Paytone retains all rights, title, and interest in and to the Platform, including software, documentation, designs, and trademarks. You retain all rights to Customer Data and to your own products. You grant Paytone a limited licence to process Customer Data only as necessary to provide the Services.
9. Service-level commitments
Paytone targets high availability for the Platform and publishes service-level commitments in our service-level agreement where applicable. Scheduled maintenance, force-majeure events, and Provider-side incidents are excluded from availability calculations. Service credits, where available, are the sole and exclusive remedy for missed targets.
10. Term & termination
These Terms remain in force until terminated. Either party may terminate for material breach not cured within thirty (30) days of written notice. Paytone may suspend or terminate the Services with immediate effect where required by law, regulator instruction, sanctions, or to address material risk to the Platform.
On termination, your right to access the Services ends. We will retain records as required by applicable law and our record-keeping obligations. Outstanding fees remain due and payable.
11. Disclaimers & limitation of liability
The Services are provided on an "as is" and "as available" basis. To the maximum extent permitted by law, Paytone disclaims all warranties, express or implied, including warranties of merchantability, fitness for a particular purpose, and non-infringement.
Neither party will be liable for indirect, incidental, special, punitive, or consequential damages, including loss of profits, revenue, or data. Each party's aggregate liability arising out of or in connection with these Terms will not exceed the fees paid by Customer to Paytone in the twelve (12) months preceding the event giving rise to the claim.
12. Indemnification
Each party will defend and indemnify the other against third-party claims arising from its breach of these Terms, its negligence, or its wilful misconduct. The indemnifying party's obligations are conditional on prompt written notice of the claim, control of the defence, and reasonable cooperation by the indemnified party.
13. Governing law & disputes
These Terms, and any non-contractual obligations arising out of or in connection with them, are governed by, and construed in accordance with, the laws of the Republic of Cyprus. The parties will attempt to resolve disputes in good faith before resorting to formal proceedings. Subject to the foregoing, the parties irrevocably submit to the exclusive jurisdiction of the District Court of Larnaca, Cyprus, in respect of any dispute, claim, or matter arising out of or in connection with these Terms, save that either party may seek interim or injunctive relief in any court of competent jurisdiction to protect its rights.
14. Changes to these terms
We may update these Terms from time to time. When we make material changes, we will provide reasonable notice through the dashboard, by email to your designated contact, or by other appropriate means. Continued use of the Services after an update constitutes acceptance of the revised Terms.
15. Contact
The Paytone platform is operated by NEW WAGE TECHNOLOGIES LTD, registration number HE 449912, with its registered office at Pavlou Valdaseridi 2A, Floor 1, 6018 Larnaca, Cyprus.
Questions about these Terms can be sent to legal@paytone.io, or by post to NEW WAGE TECHNOLOGIES LTD at the address above, attention: Legal Team. Where a formal notice is required by these Terms, please reference the relevant section and your account identifier so we can route the message correctly.
Questions about this policy?
Our team is happy to walk through these Terms with your legal or procurement team. We can also share a draft master agreement, DPA, or order form on request.