Piggy Pay Inc.
GENERAL TERMS OF SERVICE
Platform Use Agreement and Public Terms of Service
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Effective Date |
July 26, 2026 |
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Version |
1.0 |
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Contracting Party |
Piggy Pay Inc. |
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Company Registration Number |
BC1480666 |
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FINTRAC Registration |
C100000051 |
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Bank of Canada Registration |
CASE-01899-H1J4D7 |
These General Terms of Service constitute a legally binding agreement between the Client and Piggy Pay Inc. Please read them carefully before registering for, accessing, or using the Piggy Pay platform or any related Service.
1. Information About Piggy Pay
2. Scope of These Terms
3. Nature of the Services
4. Client Funds and Financial Partners
5. Eligibility to Use the Services
6. Account Registration and Verification
7. Account Security
8. Payment Instructions
9. Incoming Payments
10. Personal Payment Details in Supported Currencies
11. Currency Conversion
12. Fees
13. Anti-Money Laundering, Sanctions and Transaction Monitoring
14. Prohibited Use
15. Suspension and Closure
16. Unauthorised or Incorrectly Executed Transactions
17. Communications with the Client
18. Privacy and Data Protection
18A. Virtual Currency Services
19. Intellectual Property
20. Liability and Financial Partners
21. Indemnification by the Client
22. Complaints
23. Changes to the Services and Terms
24. Force Majeure
25. Assignment and Subcontracting
26. General Provisions
27. Governing Law and Dispute Resolution
28. Contact Information
29. Definitions
These General Terms of Service are entered into between:
Piggy Pay Inc., a company incorporated and existing under the laws of the Province of British Columbia, Canada, registered under number BC1480666, with its operational office in Canada at 1055 West Georgia Street, Suite 2100, Vancouver, British Columbia, V6E 3P3, Canada (hereinafter referred to as “Piggy Pay”, the “Company”, “we”, “us” or “our”); and
an individual, sole proprietor or legal entity that registers an Account, accesses the Piggy Pay platform, or uses the Services provided by the Company (hereinafter referred to as the “Client”, “you” or “your”).
Piggy Pay and the Client are hereinafter collectively referred to as the “Parties” and individually as a “Party”.
Piggy Pay is registered with the Financial Transactions and Reports Analysis Centre of Canada as a Canadian money services business under registration number C100000051.
Piggy Pay is also registered with the Bank of Canada as a payment service provider under the Retail Payment Activities Act. Registration identifier: CASE-01899-H1J4D7.
Within the scope of its registered activities and subject to applicable law, such registrations permit Piggy Pay Inc. to provide the following services:
• exchange one fiat currency for another;
• receive funds from clients for subsequent transfer to recipients in Canada and other supported jurisdictions;
• execute domestic and international money transfers;
• receive and process incoming payments in supported currencies;
• make outgoing payments to individuals, sole proprietors and legal entities;
• provide clients with access to payment details in supported currencies through regulated banking and payment partners;
• facilitate payments by bank transfer and available local payment systems;
• execute bulk payments, payroll payments, supplier settlements and other commercial payments;
• exchange fiat currencies for virtual currencies and virtual currencies for fiat currencies;
• exchange one virtual currency for another;
• receive virtual currency from a client and transfer it to another person or another virtual wallet address; and
• provide other related payment and settlement services available through the Platform.
The availability of a particular Service depends on the Client’s country of residence or registration, the results of individual or business verification, risk assessment, the availability of the relevant currency and payment method, and the terms and conditions of Piggy Pay’s banking, payment and other Financial Partners.
Payment accounts, payment details and payment infrastructure made available through the Platform may be provided, maintained or operated by Financial Partners.
Unless the Special Terms of a particular Service expressly state otherwise, funds processed through the Services are not covered by the Canada Deposit Insurance Corporation, the United States Federal Deposit Insurance Corporation, the European Union deposit guarantee scheme, or any comparable deposit insurance scheme.
These Terms govern registration for and use of the Platform, access to payment functionality, Payment Instructions, incoming and outgoing payments, currency conversion, Virtual Currency Services, interactions with Financial Partners, security, support and regulatory compliance.
The agreement may also include the Privacy Policy, Fees, Acceptable Use Policy, Special Terms for a particular Service, transaction-specific notices, commercial proposals, order forms, individual agreements and mandatory terms of a Financial Partner.
In the event of a conflict, the following order of precedence applies: an individually signed agreement; Special Terms; an accepted transaction-specific notice; Fees; these Terms; and other policies. Mandatory provisions of law prevail.
Piggy Pay combines a payment interface with the infrastructure of regulated financial and payment institutions. A Financial Partner may provide payment details and wallet addresses, receive and transmit funds, perform conversions, execute, reject or return transactions, conduct reviews, impose limits and request documents.
Piggy Pay may use one or more Financial Partners and is not required to publicly disclose each of them unless disclosure is required by law or by the relevant Service. Piggy Pay may appoint, replace or cease using a Financial Partner without the Client’s prior consent, provided that mandatory rights are preserved.
The availability of a Service depends on technical infrastructure, Financial Partners, banking networks, settlement systems, correspondent banks, blockchain networks and applicable regulatory restrictions. Piggy Pay does not guarantee that every Service, currency, country, payment method or Financial Partner will remain continuously available.
If there is a material restriction, suspension or discontinuation of a Service, currency, country or payment method, Piggy Pay will inform the Client by a notice in the personal account and/or a message sent to the Client’s registered email address, where such notice is possible in light of the urgency, nature and reason for the relevant change.
Funds may be processed through accounts, wallets or infrastructure of Financial Partners. Displayed balances may be provisional and subject to reconciliation, review, reversal, return or correction.
If, at the time an Account is restricted, suspended or closed, there are pending transactions or Client funds held by a Financial Partner in connection with a regulatory or compliance review, sanctions screening, a request from a government authority or another lawful reason, Piggy Pay will take reasonable steps to assist with the settlement of those funds.
Closure or discontinuation of servicing of an Account does not by itself terminate the Client’s entitlement to funds belonging to the Client, unless their return, transfer or other disposition is prohibited by applicable law, a binding direction of a governmental authority, a court order or requirements of a Financial Partner.
Until those funds have been finally settled, Piggy Pay may restrict the functionality of the Account and discontinue individual Services while retaining the ability to communicate with the Client regarding the return, transfer or other lawful disposition of the funds.
Funds may be returned to the Client; transferred to a verified bank account or wallet of the Client; returned to the original sender; transferred to another authorised person; or continue to be held until completion of the review or compliance with a binding requirement of a competent authority.
Piggy Pay does not guarantee the time required to release funds under the control of a Financial Partner, but will, to the extent permitted by law, inform the Client about the status of the review and any actions required from the Client.
The Services may be provided to individuals, sole proprietors, self-employed persons, companies, partnerships, other legal entities and organisations approved by Piggy Pay. An individual must be at least eighteen years old and have full legal capacity.
A person registering an Account for a Business Client represents and warrants that:
• the Business Client is duly incorporated or organised, validly existing and conducting lawful activities;
• that person has all authority necessary to bind the Business Client;
• all information about the Business Client, its directors, officers, representatives, controlling persons and ultimate beneficial owners is complete, accurate and current;
• neither the Business Client nor any of its directors, officers, ultimate beneficial owners, controlling persons, direct or indirect owners or persons exercising control is subject to sanctions or restrictions imposed by Canada, the United States of America, the European Union, the United Nations or any other jurisdiction applicable to Piggy Pay, a Financial Partner, the Client or a transaction;
• the Business Client is not owned or controlled by a sanctioned person;
• its activities, use of the Services, source of funds and transactions are lawful and comply with laws, regulatory requirements and licensing conditions in the jurisdictions in which it is incorporated, operates or provides goods or services;
• its activities are not intended to evade sanctions, launder money, finance terrorism, commit fraud or deal in unlawful goods or services;
• all required licences, permits and registrations are maintained in force; and
• the Business Client will promptly notify Piggy Pay of any change that renders any of the foregoing representations inaccurate or incomplete.
The Services may be provided to eligible Clients primarily in Canada, and also in the European Economic Area, selected states and territories of the United States of America, and other supported jurisdictions in which the relevant Service may lawfully be provided directly by Piggy Pay or through a Financial Partner.
Availability depends, among other things, on applicable federal, state, provincial or territorial law; licences, registrations, permits and lawful exemptions applicable to Piggy Pay in Canada and to the relevant Financial Partners in other jurisdictions; the territorial scope of a Financial Partner; sanctions and export restrictions; the Client’s place of residence, registration or location; the nature of the Client’s activities and risk level; and the availability of a currency, payment method and network.
Technical access to the website, Platform or registration form does not mean that every Service is available to the Client. Piggy Pay may apply geographic restrictions, block access or limit particular functions based on location, address, verification results, legal requirements and partner coverage.
Availability may change as a result of changes in law, licence, registration, policy, regulatory requirements or other restrictions. Piggy Pay will notify the Client through the personal account and/or registered email address where permitted by law and reasonably practicable.
Piggy Pay may, on reasonable grounds, reject an application, refuse to open an Account, decline to activate a Service, currency, payment method or payment details, or impose additional conditions where permitted by law.
Grounds may include:
• failure to complete, late completion of, or inability to verify an identity or business verification;
• false, inconsistent, incomplete or outdated information;
• failure to meet the risk criteria of Piggy Pay or a Financial Partner;
• suspicion of fraud, money laundering, terrorist financing or sanctions violations;
• sanctions applicable to the Client or related persons;
• a connection to an unsupported or restricted jurisdiction;
• prohibited, restricted, licensed or high-risk activity without the necessary licence or approval;
• inability to verify the source of funds, source of wealth or economic rationale of a transaction;
• adverse information, an investigation or regulatory measures;
• refusal by a Financial Partner;
• technical, operational or commercial unavailability; or
• a requirement of law, a court, regulator, law enforcement authority, payment system or Financial Partner.
Piggy Pay may request additional documents and information. Piggy Pay is not required to disclose internal risk assessment models, thresholds, monitoring algorithms, the content of mandatory reports, confidential information of a Financial Partner or information whose disclosure is restricted by law. Where lawful and not prejudicial to an investigation or security, Piggy Pay may provide a general reason for the refusal. Refusal of one Service does not necessarily mean refusal of all Services.
The Client must provide complete, accurate and current information, including identity documents, proof of address, corporate documents, information about directors, representatives, controlling persons and beneficial owners, tax information, information concerning source of funds and source of wealth, expected activities, counterparties and recipients, contracts, invoices, acceptance certificates, bank statements and other necessary materials.
Verification is ongoing and may be conducted before or after a transaction, upon changes in activity, expiration of documents, identification of a sanctions, fraud or adverse-information indicator, as required by law, or as part of a periodic review.
Piggy Pay may use third-party service providers and Financial Partners to verify the identity of individuals, businesses, representatives, directors, controlling persons and ultimate beneficial owners; verify the authenticity of documents; conduct sanctions screening, politically exposed person screening and adverse-media checks; prevent fraud; verify source of funds and source of wealth; monitor transactions; analyse virtual currency wallets and addresses; and comply with legal and Financial Partner requirements.
By accepting these Terms, registering through the website, application or Platform, and using the Services, the Client acknowledges and agrees that Piggy Pay may disclose personal, corporate, documentary, transactional, technical and other information to such providers and Financial Partners to the extent necessary to conduct checks, provide the Services, perform the agreement and comply with applicable law.
Processing may take place outside the Client’s country, subject to the Privacy Policy, applicable law and appropriate safeguards. Refusal to provide information or permit necessary processing may result in refusal of service, non-activation, restriction or termination of the Services. Piggy Pay discloses only information reasonably necessary for the relevant purpose and takes reasonable steps to select providers that apply appropriate safeguards.
If the Client fails to provide requested information, Piggy Pay or a Financial Partner may delay or reject a transaction, restrict functionality, suspend or close the Account, or take any other action required by law.
The Client is responsible for maintaining the confidentiality and security of the username, password, confirmation and recovery codes, registered email address, telephone number and device, two-factor authentication application and device, application programming interface keys and tokens, and all other means of access.
The Client must use strong, unique passwords and reasonable technical and organisational safeguards, prevent the loss, disclosure or copying of access credentials, and must not store them in a publicly accessible or unsecured form.
The Client must not transfer the Account, password, two-factor authentication method or access to the Platform to any third party; permit third parties to manage the Account or initiate, confirm or cancel payments; sell, lease or assign the Account; give access to unverified or unapproved users; or provide access to employees, contractors or agents other than through roles and permissions made available by the Platform.
Only authorised representatives may access the Account of a Business Client. The Business Client is responsible for their actions and for timely revocation of their access. Actions taken using valid access credentials and two-factor authentication may be treated as authorised by the Client unless Piggy Pay has received timely notice of compromise.
Piggy Pay is not liable for losses arising from unauthorised access caused by the Client’s disclosure or transfer of credentials, loss of a device, compromise of email or two-factor authentication, use of a weak or reused password, malware, phishing, social engineering, delayed notification or another breach by the Client of security requirements. This limitation does not apply where the loss is directly caused by Piggy Pay’s breach of mandatory law, a proven vulnerability of the Platform, wilful misconduct or gross negligence by Piggy Pay.
If compromise is suspected, the Client must stop using the affected device, change access credentials, notify the official support service and cooperate with Piggy Pay. Piggy Pay may block or restrict the Account, suspend transactions, revoke application programming interface access and conduct renewed verification.
The Client must immediately notify Piggy Pay if there is unauthorised access; access credentials, backup codes or application programming interface keys have been lost, stolen or disclosed; two-factor authentication, a telephone, device or email has been compromised; a third party may initiate, confirm or alter instructions; or an unauthorised instruction, unknown change, login, recipient, device or other suspicious activity is discovered.
Notice must be sent to [email protected]. It is considered properly given if sent from the registered email address. If the registered email account has been lost or compromised, notice may be sent from another address and must include the registered email address, the Client’s full name, the name of the Business Client where applicable, a description of the circumstances and reasons, an express request to temporarily block the Account and, where necessary, suspend transactions.
Such notice is sufficient to begin an urgent review and protective measures; however, Piggy Pay may require documents, video verification, renewed identification or other evidence. During the review, Piggy Pay may restrict or block the Account, suspend instructions, disable Services and application programming interface access, reset two-factor authentication, restrict withdrawals, transfers or conversions, and conduct renewed verification.
Piggy Pay does not guarantee that it can stop or reverse transactions that, before receipt and processing of the notice, have already been executed or transmitted to a Financial Partner, payment network or blockchain network. The Client must cooperate. Restrictions may remain in place until identity and authority are confirmed, access credentials are changed, two-factor authentication is restored, the risk is removed and the review is completed. Delayed notice may limit the ability to stop, reduce or investigate a loss.
Before confirmation, the Client must verify the recipient, account number or international bank account number, bank code, currency, amount, country, payment purpose, reference and other information. Piggy Pay and Financial Partners may rely on a unique identifier, including a virtual wallet address, unless applicable law requires otherwise.
An instruction is deemed received only after all mandatory information has been provided, authentication has been completed, funding is available, necessary reviews have been completed and the instruction has been accepted by the Financial Partner. Once transmitted to a partner, payment network or blockchain network, cancellation may be impossible.
Any processing or delivery time displayed on the Platform is an estimate unless expressly stated to be guaranteed. A transaction may be delayed due to compliance review, sanctions screening, review by a Financial Partner or recipient bank, involvement of correspondent banks, operation of settlement, payment or blockchain networks, inaccurate or incomplete information, public holidays, technical failures or events outside Piggy Pay’s reasonable control.
If an instruction cannot be completed because payment details are incorrect, incomplete or invalid, or because the recipient bank, correspondent bank, payment system or Financial Partner refuses the transaction, the funds will, after their actual return and completion of necessary reviews, be credited back to the relevant sender balance, account or wallet.
The returned amount may be reduced by fees charged by banks, correspondent banks, networks and Financial Partners, and by expenses actually incurred, unless the return was caused by an error of Piggy Pay. The timing of a return depends on participants in the payment chain, and Piggy Pay is not required to credit funds before actually receiving them. Piggy Pay may request information and documents and suspend settlement until completion of a review.
The Client must use only the payment instructions, bank and other payment details, wallet addresses, payment-purpose codes and payment-identification information displayed on the Platform at the time of the transaction.
The Client’s payment details may be provided and maintained by Financial Partners and may be changed, replaced, suspended or discontinued. Before providing payment details to a third party or sending the Client’s own funds from an external bank account or payment service, the Client must check the current information in the “Bank Details” section or another relevant section of the Platform.
The Client must not use saved templates, screenshots, old emails, correspondence or other sources without checking them again. Funds sent to old, replaced, closed, incorrect or unsupported payment details may be rejected, delayed or returned; crediting may be impossible; a return may be made less actual costs; and the timing depends on participants in the payment chain.
Piggy Pay is not liable for consequences arising from the Client’s failure to verify that payment details are current. Piggy Pay may notify the Client of replacement through the personal account or by email, but the Client must verify payment details before every transaction.
Information stating whether a particular account or particular payment details may be used to receive payments from third parties is displayed in the “Bank Details” section next to the relevant account or payment details.
Before providing payment details to a third party, the Client must confirm that such payments are permitted and that the sender and payment purpose comply with the applicable restrictions. If permission for third-party payments is not stated, the payment details must not be shared or used for such payments.
A payment that violates these requirements may be delayed, rejected or returned less applicable costs. Piggy Pay may request documents concerning the sender, source of funds, purpose and relationship between the parties.
An incoming payment becomes final only after receipt by the Financial Partner, reconciliation, acceptance following all required reviews, and finality under the rules of the relevant network. A provisional credit may be reversed if the originating payment is returned, recalled, reversed, disputed, identified as fraudulent or credited in error.
Piggy Pay may provide an eligible Client with personal payment details in United States dollars, euros and other supported currencies through one or more Financial Partners. Such details may include an account number, international bank account number, routing number, bank code, bank identifier code, payment link or other information required to receive incoming payments.
The payment details provided may be named or virtual. They are for the Client’s use only and may not be sold, leased, transferred, assigned or made available to another person. A Business Client may disclose the payment details to lawful payers and counterparties only for permitted payments made for the benefit of that Business Client itself.
Permitted sources of incoming payments depend on the Client category, Service, currency, profile and Financial Partner requirements. Information concerning permitted senders and purposes is displayed in the “Bank Details” section.
For an individual, incoming payments may be limited to transfers from the individual’s own bank or payment account, payments from an employer as salary, payments from a company as dividends or another documented distribution, payments from a family member where permitted, or other sources expressly approved by Piggy Pay or a Financial Partner.
For a Business Client, payments from buyers, clients, customers, suppliers, related parties and other third parties may be permitted where they have a lawful economic basis, are consistent with the approved profile and are supported by documents. Piggy Pay may impose a narrower list for a particular Client, currency, payment details or route.
A payment is accepted only from a source permitted for the relevant account, currency, Client category and Service. Permitted senders, purposes and restrictions are displayed in the “Bank Details” section.
An ineligible, unidentified or unapproved source may include, in particular:
• a sender that does not meet the restrictions applicable to the account;
• a third party where the account is not approved to receive third-party payments;
• a sender, account or payment instrument that cannot be identified or verified;
• a payment instrument that does not belong to the declared sender;
• false, incomplete, inconsistent or misleading information concerning the sender, recipient, purpose or basis of the payment;
• a transaction without a clear economic rationale, or one inconsistent with the Client’s profile, declared activities, ordinary activity or financial position;
• a transaction not supported by a contract, invoice, acceptance certificate, payment order, employment document or corporate resolution where such documents have been requested;
• payment for goods or services that are not actually provided;
• payments through fictitious websites, payment pages, shops, storefronts or applications that misrepresent the business, goods, services, price, seller or recipient;
• use of an undeclared website or storefront, or activity materially different from the approved activity;
• activity of a shell or nominee merchant, concealed processing, pass-through payments, or use of an account for an undisclosed third party;
• fraud, stolen payment credentials, compromised accounts, social engineering or unauthorised transactions;
• refund fraud, abusive disputes, forged documents or artificial creation of turnover;
• a connection to a sanctioned, prohibited, restricted or unsupported jurisdiction or a sanctioned person;
• prohibited, unlicensed, concealed, high-risk or unlawful activity;
• an unverifiable source of funds or source of wealth; or
• circumvention of limits, reviews, sanctions, Financial Partner requirements or anti-money laundering rules.
Before making a decision, Piggy Pay or a Financial Partner may suspend crediting, restrict disposition of funds, request information concerning the sender, source of funds and source of wealth, contracts, invoices, acceptance certificates, correspondence, information about goods, services, a website, storefront or payment page, verify whether the business is consistent with the declared profile, and disclose necessary information to a Financial Partner, bank, network or competent authority to the extent permitted by law.
Following the review, Piggy Pay may credit, reject, return, suspend or cancel the payment; restrict, replace or close the payment details; impose limits; conduct renewed verification; discontinue Services or close the Account; and submit any report required by law.
Intentional use of a fictitious storefront, concealment of actual activity, receipt of funds for an undisclosed third party, submission of forged documents or fraud constitutes a material breach. Piggy Pay may, without prior notice, restrict or discontinue the Services, return or block funds, and recover actual fees, reversals, penalties and documented expenses to the extent permitted by law. A return will be made only after actual receipt of the funds and completion of all reviews and may be reduced by actual expenses. The fact that a review is conducted does not itself constitute an allegation of unlawful conduct by the Client.
Piggy Pay or a Financial Partner may replace, suspend or withdraw payment details. After receiving new payment details, the Client must notify senders. A payment sent to former or inactive payment details may be rejected, delayed or returned.
If a Business Client transfers the Account, access credentials, a two-factor authentication method or actual control to an unauthorised person, this constitutes a material breach. To the extent permitted by law, the Business Client must compensate Piggy Pay for agreed losses and expenses in an amount equal to twenty-five percent of the total value of payments and transactions carried out during the period in which the Account was, or could have been, under the control of the unauthorised person.
If the Account or payment details are used as a payment method for an online store, storefront, website, application, payment page or commercial platform without Piggy Pay’s prior written approval, this constitutes a material breach. To the extent permitted by law, the Business Client must compensate Piggy Pay for agreed losses and expenses in an amount equal to twenty-five percent of the total value of payments received or processed through that unapproved channel during the period determined by Piggy Pay.
The relevant period may be determined on the basis of login and activity logs, devices, Internet Protocol addresses, authentication data, payment history, information from Financial Partners, data concerning the website, storefront, application or payment page, documents and correspondence. This does not limit Piggy Pay’s right to block or close the Account, return payments, recover actual fees and claim compensation for documented losses in excess of that amount where permitted by law.
Where conversion is available, the exchange rate may be provided by Piggy Pay, a Financial Partner or a liquidity provider and may include a margin or a spread between buy and sell rates. Before confirmation, the Platform may display the source currency, destination currency, amount, rate, fees and the period for which the quotation remains valid. An expired quotation will be replaced with a new quotation. A quotation that is manifestly erroneous may be corrected or cancelled to the extent permitted by law.
The Client must pay the fees disclosed in the Fees, an individual agreement, on the Platform or in the Special Terms. They may include a transaction fee, conversion margin, subscription fee, implementation fee, verification fee, investigation fee, recall fee, return fee, and fees charged by correspondent banks, partners and networks.
Banks, correspondent banks, payment networks and Financial Partners may deduct fees from the payment amount. Piggy Pay is not liable for a reduction in the amount resulting from a customary or disclosed deduction by a third party unless the law requires otherwise.
For Business Clients, generally applicable fees may be changed upon not less than three calendar days’ notice. Consumers will receive any mandatory notice period. An immediate change is permitted as a result of law, a regulatory requirement, a change in a partner’s fee, tax, market rate, security risk, fraud or an event outside Piggy Pay’s reasonable control.
Piggy Pay applies measures to prevent money laundering, terrorist financing, sanctions violations and fraud, conducts monitoring and may request contracts, invoices, acceptance certificates, information concerning source of funds and source of wealth, counterparties, purpose, goods and services, ownership of an account or wallet, and other materials.
Piggy Pay may use automated rules, risk models, sanctions databases, blockchain analytics and manual review. The results may lead to a request for documents, delay, restriction, refusal, return, renewed verification or discontinuation of the Services. Piggy Pay may submit mandatory reports and notifications and cooperate with competent authorities.
Piggy Pay may be unable or not permitted to disclose to the Client information concerning an internal, regulatory, law-enforcement or sanctions review; a mandatory suspicious transaction report or other mandatory report, including its content, grounds and supporting materials; internal risk models, monitoring algorithms, thresholds and indicators; confidential information of a Financial Partner, bank, network, regulator or law-enforcement authority; the content of a request, direction, warrant, court order or binding requirement; or detailed reasons for a restriction where disclosure could obstruct a review, investigation or the operation of legal or systemic controls.
Disclosure restrictions may arise, in particular, under Canada’s Proceeds of Crime (Money Laundering) and Terrorist Financing Act and regulations made under it; the Criminal Code of Canada, including preservation demands, production orders and non-disclosure orders; the Retail Payment Activities Act and regulations made under it; the Personal Information Protection and Electronic Documents Act; British Columbia’s Personal Information Protection Act; Canadian legislation concerning sanctions, national security, terrorist financing, fraud prevention, judicial and law-enforcement procedures; applicable foreign law; rules of banks, Financial Partners and payment networks; and confidentiality obligations.
No provision of these Terms requires disclosure of information where disclosure is prohibited or restricted by law, a court order, a binding requirement of a competent authority, applicable rules of a Financial Partner, or could obstruct a review or investigation. Where lawful and safe, Piggy Pay may inform the Client in general terms that a transaction or Account is under review.
The Client must not use the Services for unlawful, fraudulent, prohibited, concealed or unapproved activity, for the benefit of an undisclosed third party, or in a manner that creates an unacceptable legal, regulatory, financial or reputational risk.
As of the date of publication, prohibited or restricted jurisdictions may include Afghanistan, Albania, Belarus, the Central African Republic, China, the Democratic Republic of the Congo, Cuba, Eritrea, Ethiopia, the Gaza Strip, Iran, Iraq, Kenya, Kosovo, Lebanon, Libya, Mali, Morocco, Myanmar, Nepal, Nicaragua, Niger, the Democratic People’s Republic of Korea, North Macedonia, Pakistan, Qatar, the Russian Federation, Somalia, South Sudan, Sudan, Syria, Ukraine, Venezuela, the West Bank, Yemen and Zimbabwe.
The list may change in light of legislation, sanctions, requirements of Financial Partners, banks and payment systems, risk assessment and internal compliance policy. The absence of a country from the list does not guarantee the availability of all Services.
A restriction may apply based on the Client’s place of residence, registration, incorporation, actual business activity or location, or the connection of any director, beneficial owner, controlling person, sender, recipient, bank, wallet, goods, services, source of funds or economic purpose of a transaction. The Client must not conceal such a connection by using a virtual private network, proxy server, remote access, a front person or a nominee company.
The Client must not use the Services in relation to any country, territory, person, company, government, organisation, group, vessel, virtual wallet or other target subject to sanctions, prohibitions, restrictions or high-risk designations administered or enforced by Canada, the Office of Foreign Assets Control of the United States Department of the Treasury, the United Kingdom Office of Financial Sanctions Implementation, the European Union, the United Nations, the Financial Action Task Force or another competent authority. The prohibition extends to persons and organisations owned or controlled by, or acting on behalf of, a sanctioned person.
Piggy Pay prohibits transactions involving:
• shell banks;
• accounts that provide third parties with effective direct access to the Client’s account or payment details;
• issuers of bearer shares;
• unlawful internet gambling;
• the sale of firearms, ammunition and components, and arms brokering;
• unlawful drug paraphernalia;
• retail sales of Delta-8 THC products;
• adult entertainment, pornographic and erotic content;
• escort services, paid sexual encounters and comparable services;
• transactions involving Binance or Binance US, including Binance P2P;
• peer-to-peer virtual currency transactions; and
• any other activity separately prohibited by Piggy Pay or a Financial Partner.
This list is not exhaustive. Piggy Pay may restrict, suspend or prohibit access based on law, a regulatory, partner or bank requirement, risk assessment or internal policy.
Piggy Pay may suspend or restrict an Account or Service in the event of a breach of the Terms, failure to provide information, suspicion of fraud or unlawful activity, suspected compromise, a requirement of a Financial Partner, legal, regulatory or reputational risk, indebtedness, inconsistency with the approved profile, or a need to protect the Platform.
Piggy Pay will provide notice before suspension or promptly after it where reasonably possible and permitted by law. Notice may be withheld where disclosure is prohibited, could prejudice a review or investigation, create a security risk, or is restricted by a Financial Partner or competent authority.
The Client may request closure of the Account after ceasing new transactions, paying all amounts due, cooperating with any review and completing pending transactions. Piggy Pay may close the Account on reasonable notice, immediately in the event of a material breach, as required by law or a Financial Partner, where the risk is unacceptable, or where a Service is discontinued.
Closure does not reverse completed transactions, terminate outstanding obligations, prevent completion of reviews, or limit settlement of funds under Section 4.4.
The Client must regularly review the Account and transaction history and notify Piggy Pay without undue delay of any unauthorised or incorrectly executed transaction, incorrect balance, duplicated transaction or other suspected error.
All mandatory time limits, rights to reimbursement, disclosure rights, complaint-handling rights and error-resolution procedures available to a Consumer under applicable law remain in force and are not limited by these Terms.
For Consumers in Canada, particular Services and payment transactions may be subject to federal and provincial rules concerning consumer protection, payment services, disclosure, complaint handling, protection of personal information and unfair business practices.
For Consumers in the United States of America, certain electronic fund transfers and international remittance transfers may be governed by the Electronic Fund Transfer Act, Regulation E and other applicable federal and state laws.
For Consumers in the European Economic Area, payment transactions may be governed by national legislation implementing applicable European Union rules on payment services and consumer protection.
Where mandatory law of the Consumer’s country of residence provides a higher level of protection than these Terms, those mandatory provisions apply to the extent of their scope.
A Business Client must notify Piggy Pay of a suspected unauthorised or incorrectly executed transaction within thirty calendar days after it appears on the Platform, unless a different period is prescribed by law, network rules or an individual agreement.
Unless mandatory law provides otherwise, the Client is responsible for losses, expenses, fees, payment reversals, third-party claims and other consequences arising wholly or partly from any act, omission, error, fraud or gross negligence of the Client or any person authorised by the Client.
Such circumstances include, in particular:
• providing incorrect, incomplete, outdated or inconsistent recipient information, including the recipient’s name or legal name, account number, international bank account number, bank identifier code, bank routing number, wallet address, virtual currency network, payment purpose or other payment information;
• selecting an incorrect currency, payment network, payment method, bank, country or transfer type;
• sending funds to outdated, replaced, closed or unsupported payment details without first checking the current information on the Platform;
• submitting the same Payment Instruction more than once;
• confirming a transaction without checking its amount, currency, recipient, fee, exchange rate and other material terms;
• providing a third party with a password, confirmation code, backup code, two-factor authentication method, application programming interface access key or other security information;
• giving a third party effective control of the Account or the ability to create, confirm, change or cancel transactions;
• failing to maintain the confidentiality and security of email, a device, telephone number, two-factor authentication application or other means of access;
• using weak, reused or previously compromised passwords;
• storing access credentials in a publicly accessible or unsecured form;
• using an infected, compromised, unsecured or publicly accessible device;
• following phishing links, providing information to fraudsters or failing to take reasonable precautions against social engineering;
• failing to terminate the access of an employee, contractor, representative or other corporate user after their authority has ended or been restricted;
• assigning excessive permissions or permissions inconsistent with a corporate user’s functions;
• acts of the Client’s authorised representative, corporate user, employee, agent or contractor within the scope of the access granted to that person;
• delayed notification to Piggy Pay of a lost device or compromise of email, access credentials or a two-factor authentication method;
• delayed reporting of an unknown transaction, unauthorised Payment Instruction or other suspicious activity;
• failure to follow Piggy Pay’s instructions to block the Account, replace access credentials, repeat identification or restore security;
• submission of false documents, explanations or confirmations during review of a transaction; or
• fraudulent conduct, wilful breach of these Terms or gross negligence by the Client.
Where a Payment Instruction has been executed on the basis of information provided by the Client, Piggy Pay is not required to verify whether the named recipient is the actual owner of the relevant account, wallet or payment instrument, except where such verification is expressly required by mandatory law.
Piggy Pay may attempt to assist in recovering funds sent in error, but does not guarantee that a transaction can be cancelled or returned after it has been transmitted to a Financial Partner, bank, payment system, correspondent bank or blockchain network.
The Client must reimburse fees and costs associated with an attempt to recall, correct, return or investigate an erroneous transaction where the error is attributable to the Client. Recovery of funds may depend on the consent of the recipient, recipient bank, Financial Partner or another participant in the payment chain.
The Client’s liability may include the amount of the erroneous or unauthorised transaction; fees charged by banks, correspondent banks, payment systems and Financial Partners; costs of returning, recalling or resubmitting the payment; losses resulting from currency conversion or exchange-rate movements; payment reversals and claims by senders; costs of investigation and restoration of Account security; and other documented losses.
This Section does not exclude or limit Piggy Pay’s liability to the extent that the loss was directly caused by a proven technical error of the Platform, wilful misconduct or gross negligence of Piggy Pay, or Piggy Pay’s breach of mandatory applicable law.
The Client agrees to receive contractual, operational, regulatory and security-related communications electronically through the registered email address, the Platform, application notifications, short message service or another provided method of communication. The Client must keep the email address current and review it regularly.
Piggy Pay processes personal information in accordance with the Privacy Policy and applicable law. Information may be disclosed to Financial Partners; providers of identity and business verification, sanctions screening, fraud prevention and blockchain analytics; payment networks and correspondent banks; technology and cloud service providers; professional advisers; regulators, courts and competent authorities; and other persons where permitted or required by law.
Personal information may be processed outside the Client’s country of residence subject to applicable safeguards. Verification documents, transaction information and compliance materials may be retained after closure of the Account for the period required by law.
Piggy Pay may provide individual Services involving virtual currencies depending on the Client’s country of residence or registration, Client category, verification results, assigned risk level, availability of the relevant virtual currency and blockchain network, and the terms of Financial Partners.
Such Services may include:
• provision of virtual wallet addresses;
• receipt of virtual currency;
• custody and display of virtual currency in the Account balance;
• transfer of virtual currency to an external wallet;
• exchange of fiat currency for virtual currency;
• exchange of virtual currency for fiat currency;
• exchange of one supported virtual currency for another;
• crediting the proceeds of an exchange to the Client’s internal balance;
• sending the proceeds of an exchange to an external bank account or external virtual wallet; and
• other related services available in the personal account.
The technical ability to open an Account does not mean that Virtual Currency Services are automatically available. Piggy Pay may refuse to provide such Services, impose additional requirements or restrict them for particular Clients, countries, transaction categories or sources of funds.
Piggy Pay provides Virtual Currency Services exclusively in respect of selected stablecoins that are available in the Client’s personal account, supported by the relevant blockchain network and by Piggy Pay’s or a Financial Partner’s infrastructure, may lawfully be used for the relevant Service in the Client’s country of residence, registration or location, and satisfy the internal requirements of Piggy Pay and Financial Partners regarding legality, liquidity, sanctions risk, issuer, reserves and technical security.
As of the publication date of these Terms, supported stablecoins may include:
• USD Coin - USDC;
• Euro Coin - EURC; and
• Tether - USDT, except for Clients located or registered in Member States of the European Union and other jurisdictions in which it is restricted or unsupported.
This list is provided for information and may change without a separate amendment to these Terms. The only authoritative and current source of information concerning supported stablecoins, blockchain networks and available transactions is the Client’s personal account immediately before the relevant instruction is created.
Piggy Pay may add a new stablecoin; remove a previously supported stablecoin; restrict its availability for a particular country or Client category; discontinue support for a particular blockchain network; suspend deposits, custody, exchange or withdrawals; or impose special limits, fees or verification requirements.
Piggy Pay does not guarantee the continued availability of any particular stablecoin, including USDC, EURC or USDT.
Piggy Pay does not support or provide Services in relation to investment tokens; tokenised securities; shares, bonds, debt instruments or ownership interests issued in token form; tokens granting rights to profit, dividends, interest, yield or participation in governance; utility tokens; gaming tokens; non-fungible tokens; decentralised finance protocol tokens; governance tokens; meme tokens; algorithmic stablecoins unless expressly approved by Piggy Pay; tokens backed by commodities, securities, real estate or other assets; or any other virtual currencies not displayed as supported in the personal account.
Availability of Virtual Currency Services does not constitute an offer, placement, brokerage activity, investment service, asset management service or recommendation to acquire any token.
The Client must not send unsupported tokens to addresses provided through the Platform. Such tokens may not be technically recognised, may not be credited and may be permanently lost. Piggy Pay is not required to return, exchange, hold or recover an unsupported token. If technical recovery is possible, Piggy Pay may undertake it at its discretion after completion of required reviews and may deduct a previously disclosed fee and actual expenses.
After successful completion of required reviews, the Client may be provided with one or more virtual wallet addresses for supported currencies and networks.
An address provided is intended only for the Client to whom it is issued; may be used only for the supported virtual currency and specified blockchain network; may not be transferred to another person for management of the Account; may be replaced, suspended or disabled; and may be technically serviced by a Financial Partner or infrastructure provider.
Provision of a virtual wallet address does not mean that the Client obtains exclusive control of the corresponding private cryptographic key. Depending on the Service model, private keys may be held and controlled by Piggy Pay, a Financial Partner or a specialised custody service provider.
The Client must not use an address to receive unsupported virtual currency; send virtual currency through an unsupported network; use an address for the benefit of an undisclosed third party; present an address as a payment method for an unapproved website, store or payment page; use a wallet to conceal the source or purpose of funds; or send funds from addresses associated with unlawful activity, sanctions, fraud, mixers, transaction-obfuscation services or other ineligible sources.
Before every transaction, the Client must verify the name of the virtual currency, the blockchain network, token standard, wallet address, whether an additional identifier, tag or memo is required, the minimum and maximum amount, and applicable fees.
The Client is responsible for the correctness of the address provided and network selected. Sending funds to an incorrect address, through an unsupported network, in an unsupported virtual currency, without a required tag or identifier, or to a smart contract or address not intended for the relevant transfer may result in permanent loss of the funds.
Piggy Pay may attempt to assist with recovery of funds sent in error but does not guarantee that technical recovery is possible. A separate fee disclosed to the Client in advance may be charged for such work.
The Client may submit an instruction to purchase supported virtual currency with fiat funds; sell supported virtual currency for fiat funds; or exchange one supported virtual currency for another.
Before the transaction is confirmed, the Client may be shown the currency being sold and purchased, the applicable exchange rate, the amount of the fee, network and other costs, the estimated amount to be received, and the validity period of the quoted rate.
The exchange rate may include the market rate, a Piggy Pay markup, a Financial Partner fee, the cost of liquidity and other applicable costs. The rate becomes binding only after final confirmation of the transaction and its acceptance for execution. If the transaction requires additional review, the rate may be recalculated at the time of actual execution unless expressly stated otherwise before confirmation.
Piggy Pay does not guarantee that a transaction can be cancelled after confirmation, transmission to a Financial Partner or recording on a blockchain network.
An incoming transfer is treated as received only after the transaction is detected on the relevant blockchain network, the required number of confirmations is obtained, review of the address, sender and source of funds is completed, and the ability to credit the funds under applicable requirements is confirmed. Appearance of a transaction on a blockchain network does not by itself constitute final credit to the Client’s balance.
When making a withdrawal, the Client must use a wallet that the Client has the right to control or lawfully use. Piggy Pay may require evidence of ownership or control of an external wallet.
Piggy Pay may delay, reject or cancel a withdrawal if the address is invalid or unsupported; associated with sanctions, fraud or other suspicious activity; ownership or the purpose of the wallet cannot be confirmed; the transaction requires additional review; there are indications of circumvention of restrictions, transaction structuring or concealment of the source of funds; or the withdrawal is prohibited by law or Financial Partner requirements.
Once a transaction has been transmitted to a blockchain network, it may become irreversible. Piggy Pay cannot cancel a confirmed blockchain transaction, change the recipient address, recover funds without the recipient’s participation or technical capability of the relevant network, guarantee confirmation times, or alter the rules or state of a blockchain network.
Piggy Pay and Financial Partners may conduct automated and manual reviews of sender and recipient addresses, virtual currency transaction history, connections of an address to sanctioned persons or prohibited services, source of funds and source of wealth, the purpose and economic rationale of a transaction, ownership or control of an external wallet, and information required to be transmitted under the travel rule.
Piggy Pay may request evidence of acquisition of the virtual currency, a statement from an exchange or wallet, information concerning the original source of fiat funds, addresses of related wallets, the transaction hash, contracts, invoices and other documents, and an explanation of the source and purpose of the funds.
Until the review is completed, Piggy Pay may decline to credit the funds, restrict disposition of the funds, suspend an exchange or withdrawal, or return the funds where such return is lawful and technically possible.
Virtual Currency Services are provided subject to applicable Canadian law, including requirements applicable to money services businesses. Such requirements may include identification and verification of the Client, determination of beneficial owners and controlling persons, record keeping, transaction monitoring, verification of source of funds, submission of mandatory reports, compliance with sanctions restrictions, transmission of required information in virtual currency transfers, and compliance with requirements of competent authorities.
For Clients in the European Economic Area, Virtual Currency Services are provided only to the extent permitted by applicable law, including the European Union Regulation on Markets in Crypto-Assets. Where required, the relevant Service is provided through a Financial Partner holding the necessary authorisation to provide crypto-asset services.
Piggy Pay may restrict for Clients in the European Economic Area particular stablecoins, particular blockchain networks, exchange, deposits or withdrawals, cross-border transactions and the provision of a particular service through an unauthorised provider. These Terms do not represent that Piggy Pay itself holds a crypto-asset service provider authorisation in every country of the European Economic Area. A particular regulated function may be performed by the relevant authorised Financial Partner.
For Clients in the United States of America, Virtual Currency Services are provided only in those states and territories, and only to the extent, in which the relevant activity is permitted by applicable federal and state law. Services may be provided through Financial Partners holding the necessary registrations, licences or other lawful authority.
The Client is prohibited from using the Account, virtual wallets, payment details, internal balance or any other Piggy Pay Services to organise, conduct, settle, intermediate or facilitate peer-to-peer virtual currency transactions.
For purposes of these Terms, a peer-to-peer transaction means a transaction in which the Client directly or indirectly purchases virtual currency from a third party or sells it to a third party outside the Piggy Pay exchange process, including transactions organised through peer-to-peer sections of cryptocurrency exchanges; specialised peer-to-peer trading platforms; messaging services, social networks, forums and closed groups; classified advertising boards; exchange chats; unofficial exchangers; brokers and intermediaries not approved by Piggy Pay; in-person meetings and cash settlements; bank transfers between individuals or legal entities for settlement of a virtual currency purchase or sale; and any other direct settlement between a buyer and seller of virtual currency.
It is prohibited, in particular, to:
• receive fiat funds from a purchaser of virtual currency into Piggy Pay payment details;
• send fiat funds to a seller of virtual currency;
• receive stablecoins from a person to whom the Client transferred fiat funds outside the Platform;
• send stablecoins to a person who transferred fiat funds to the Client;
• state a false payment purpose to conceal the purchase or sale of virtual currency;
• use payments for goods, services, loans, gifts, refunds or other stated purposes to disguise a peer-to-peer transaction;
• receive payments from, or send payments to, multiple unrelated persons in connection with the purchase or sale of virtual currency;
• regularly purchase or sell virtual currency for third parties;
• act as an exchanger, dealer, broker, intermediary or settlement agent;
• use the Account for arbitrage between peer-to-peer platforms;
• provide other persons with bank details or wallet addresses for settlement of their peer-to-peer transactions;
• use the Account for the benefit of a person who has not completed Piggy Pay verification; or
• split transactions or use related persons to circumvent this prohibition.
The prohibition applies regardless of the amount or number of transactions, whether the Client receives a fee or other benefit, whether the activity is regular or one-time, whether the Client holds a registration, licence or permit in another jurisdiction, the label assigned to the transaction by its participants, or the platform or channel through which the parties agreed the transaction.
Virtual currency exchange is permitted exclusively through Piggy Pay functionality and in accordance with the rates, limits, reviews and execution process displayed on the Platform.
Piggy Pay and Financial Partners may review transactions for indicators of peer-to-peer trading, including a significant number of payments from unrelated individuals; frequent receipt and subsequent sending of identical or comparable amounts; movement of funds without a clear economic basis; mismatch between the sender of fiat funds and the source of virtual currency; regular incoming payments containing references typical of virtual currency purchases; use of multiple bank accounts, cards or wallets; rapid exchange of received funds followed by withdrawal to external addresses; interaction with addresses associated with peer-to-peer platforms, unofficial exchangers or high-risk services; transactions inconsistent with the Client’s activities, income or declared profile; and attempts to conceal the payer, recipient, payment purpose or connection between the fiat and virtual-currency portions of a transaction.
Piggy Pay may request information concerning the sender or recipient; a contract, invoice or other basis for a fiat payment; evidence of the source of virtual currency; a statement from an external exchange or wallet; correspondence between the participants; evidence of the nature of the relationship between the parties; an explanation of the economic rationale of the transaction; and other documents necessary to exclude peer-to-peer trading.
Use of Piggy Pay Services for peer-to-peer transactions is prohibited activity and constitutes a material breach of these Terms.
Where there are reasonable grounds to believe that an Account is being used for such activity, Piggy Pay may, without prior notice, suspend or reject a transaction; decline to credit incoming funds until completion of a review; restrict deposits, exchange, transfer or withdrawal; block an individual wallet or the entire Account; request additional documents and renewed Client verification; disable Virtual Currency Services; return fiat or virtual funds to the original sender where lawful and technically possible; terminate the contractual relationship and close the Account; disclose necessary information to a Financial Partner, bank, payment system or competent authority; submit any notification or report required by law; and recover fees actually incurred, payment reversals, penalties, investigation expenses and other documented losses.
Piggy Pay is not required to disclose to the Client internal monitoring indicators, algorithms used to identify peer-to-peer transactions, the content of mandatory reports, or information whose disclosure is prohibited or restricted by law. Until the review is completed, disposition of the funds may remain restricted.
The prohibition on peer-to-peer transactions does not by itself prohibit the Client from transferring the Client’s own funds from a verified bank account to the Account; transferring the Client’s own supported stablecoins from a verified external wallet; withdrawing funds to the Client’s own verified bank account or wallet; paying for goods and services through a supported method where that function is expressly available and approved by Piggy Pay; or conducting other transactions expressly permitted by these Terms and the personal account.
Use of virtual currencies involves material risks. The Client acknowledges that the Client understands and accepts the risk that a stablecoin may lose its peg; issuer and reserve-insufficiency risk; market risk; liquidity risk; regulatory and sanctions risk; technological and cyber risk; irreversibility risk; network risk; risk of increased fees; custody risk; third-party risk; tax and legal risk; absence of insurance; and the possibility of total loss of funds.
Piggy Pay provides payment and exchange functionality and does not provide the Client with investment, legal, tax or financial advice. Availability of a virtual currency on the Platform does not mean that Piggy Pay recommends its acquisition, confirms its quality or reliability, guarantees its value or liquidity, confirms the sufficiency of the issuer’s reserves, considers it suitable for the purposes of a particular Client, or guarantees compliance with the law of any country.
Piggy Pay is not required to support a blockchain fork, a new token version, an airdrop, token replacement or migration, rewards, distributions or other rights arising on a blockchain network.
Piggy Pay may immediately restrict or discontinue Virtual Currency Services if required by law, a regulator or competent authority; a Financial Partner discontinues support; a virtual currency loses its peg or liquidity; a vulnerability or security threat is identified; the network operates unstably; the issuer discontinues token redemption; sanctions or reputational risks arise; Piggy Pay cannot satisfy mandatory requirements; or continued provision of the Service creates an unacceptable risk for Clients or Piggy Pay.
The Platform, website, mobile applications, software, source code and object code, interfaces, structure, architecture, algorithms, databases, application programming interfaces, technical solutions, design, graphic elements, texts, images, audiovisual materials, documentation, instructions, reports, templates, analytical materials and other intellectual creations used in connection with the Services are owned by Piggy Pay, its affiliates or the relevant licensors.
All rights in such items, including copyright, trademark rights, trade names, domain names, database rights, software rights, confidential information, know-how and other intellectual property rights, remain vested in their respective owners. Granting access to the Platform does not transfer to the Client ownership, exclusive rights or any other proprietary rights in the Platform or any of its individual elements.
The name Piggy Pay, the corporate name Piggy Pay Inc., logos, graphic signs, slogans, domain names, design elements, names of products and Services, and other identifiers used by Piggy Pay are trademarks, trade names or other protected elements of the Piggy Pay brand or the brand of its licensors.
The Client is not granted any right to use such identifiers except where expressly necessary for ordinary use of the Services in accordance with these Terms.
Without Piggy Pay’s prior written permission, the Client must not use the Piggy Pay name, trademark, logo or other brand elements in advertising, domain names, social media, applications, payment pages, documents, commercial proposals or client-facing materials; register or use signs, domain names, account names, applications or companies that are identical or confusingly similar to Piggy Pay; create the impression that the Client, its goods, services, website or activities are approved, certified, sponsored, controlled or provided by Piggy Pay; present itself as a bank, branch, representative office, agent, employee, official partner or other authorised person of Piggy Pay without written permission; alter, distort, conceal or remove trademarks, copyright notices, ownership designations or other rights notices; or use the Piggy Pay brand in a manner capable of harming the Company’s reputation, misleading users or creating confusion with the Platform or Services.
Subject to compliance with these Terms, Piggy Pay grants the Client a limited, non-exclusive, revocable, non-transferable and non-sublicensable right to use the Platform solely for the lawful receipt of Services in the course of the Client’s own activities.
This licence does not grant any right to commercially exploit the Platform separately from the Services; does not permit resale, leasing or provision of Platform access to third parties; terminates automatically upon restriction, suspension or closure of the Account; and may be revoked by Piggy Pay upon breach of these Terms.
The Client must not, directly or through third parties:
• copy, reproduce, publish, distribute, sell, license or create derivative materials based on the Platform;
• decompile, disassemble, reverse engineer or attempt to determine the source code, algorithms, structure or internal logic of the Platform;
• circumvent, disable, interfere with or attempt to bypass technical safeguards, authentication, access restrictions, limits or monitoring mechanisms;
• use robots, scrapers, scripts, automated requests or other automated means without Piggy Pay’s written permission;
• collect, extract, copy or compile a separate database from Platform data;
• use the Platform to develop, train, test or improve a competing product;
• copy Piggy Pay’s user interface, structure, operational logic, texts, fee models, documentation or commercial presentation;
• conduct penetration testing, vulnerability scanning or other security research without prior written permission;
• interfere with the operation of the Platform, servers, networks or information systems of Piggy Pay or Financial Partners; or
• use the Platform or Piggy Pay intellectual property for unlawful activity, deception, phishing, website spoofing or impersonation.
If the Client provides Piggy Pay with suggestions, ideas, comments, feedback or recommendations concerning the Platform or Services, the Client grants Piggy Pay a royalty-free, perpetual, worldwide and non-exclusive right to use that feedback to develop, modify and improve the Platform and Services. This provision does not grant Piggy Pay any right to use the Client’s personal data or confidential information outside the purposes provided for in these Terms and the Privacy Policy.
Where there are reasonable grounds to believe that the Client is infringing Piggy Pay’s intellectual property rights or using its brand without permission, Piggy Pay may require the Client to immediately cease such use; require removal of signs, websites, domain names, applications, advertising materials or other disputed items; restrict or block the Account; discontinue the Services; contact a domain name registrar, hosting provider, social network operator, application store, search engine or other platform to request removal of infringing material; claim compensation for documented losses and expenses; seek injunctive relief; and use any other remedy available by law.
The provisions of this Section survive restriction or closure of the Account and termination of these Terms.
Piggy Pay provides its own Services in good faith, professionally and with the reasonable care expected of a payment service provider, taking into account:
• applicable laws and regulatory requirements;
• the terms and limitations of the relevant Service;
• the role of Financial Partners, banks, correspondent banks and payment systems;
• technical and operational limitations;
• identification, transaction monitoring, sanctions screening and fraud prevention requirements;
• the need to protect Clients, Piggy Pay, Financial Partners and payment infrastructure; and
• circumstances outside Piggy Pay’s reasonable control.
Piggy Pay takes reasonable organisational, technical and operational measures to support proper provision of the Services, security of the Platform, processing of Payment Instructions and interaction with Financial Partners.
Piggy Pay does not, however, guarantee that every transaction will be completed within the originally anticipated time where a delay is caused by a mandatory review, actions of a Financial Partner, a banking or payment network, a technical failure or another circumstance that Piggy Pay cannot reasonably control.
To provide individual Services, Piggy Pay may engage banks, payment institutions, money services businesses, virtual currency service providers, settlement organisations and other Financial Partners.
Piggy Pay selects Financial Partners with reasonable professional care and seeks to cooperate only with organisations that, at the beginning and during the period of cooperation:
• hold the licences, registrations, permits or other lawful authority required to provide the relevant services;
• are supervised by competent governmental or financial authorities where such supervision is required by applicable law;
• have a business reputation that, based on information available to Piggy Pay, does not give rise to reasonable concern;
• apply customer identification, anti-money laundering, counter-terrorist financing, sanctions screening and fraud prevention procedures;
• maintain the technical, operational and financial infrastructure necessary to provide the relevant services; and
• have no circumstances known to Piggy Pay that would make cooperation unlawful, manifestly unsafe or inconsistent with Clients’ interests.
Before cooperation begins and, where necessary, during its continuation, Piggy Pay may review a Financial Partner, including its licences, registrations and corporate information; regulatory status; territorial scope; sanctions status; business reputation; public information about regulatory measures, litigation and violations; financial stability; technical and operational capabilities; procedures for protection of client funds and data; and internal risk-management and compliance rules.
Piggy Pay may restrict, suspend or discontinue use of a Financial Partner’s services if its licence, regulatory status, reputation, financial condition, technical reliability or quality of performance ceases to meet Piggy Pay’s reasonable requirements.
Unless expressly provided otherwise by applicable law or a separate written agreement, a Financial Partner is an independent organisation and is not an employee, branch, agent or division of Piggy Pay.
A Financial Partner is independently responsible for acts and decisions relating to infrastructure under its control, including opening, maintaining, replacing or closing payment details; conducting its own review of a Client or transaction; accepting, rejecting, delaying or returning a payment; servicing bank and payment accounts; operation of banking, settlement or blockchain infrastructure; applying its own limits, fees and rules; and complying with requirements of its regulator, correspondent bank or payment system.
Piggy Pay is not liable for any act or omission of an independent Financial Partner, bank, correspondent bank, payment system, network operator or recipient institution where the act or omission is outside Piggy Pay’s reasonable control.
In particular, Piggy Pay is not liable for a Financial Partner’s refusal to provide or continue providing a Service; delay in reviewing a Client or transaction; rejection, blocking, return or holding of a payment; change of payment details; restriction of particular currencies, countries, Client categories or payment methods; unavailability of a banking or payment network; acts of the recipient bank or correspondent bank; a technical failure or cessation of a Financial Partner’s business; changes to the Financial Partner’s licence, rules, fees or territorial scope; or the Financial Partner’s compliance with a requirement of law, a court, regulator or law-enforcement authority.
This limitation does not apply where Piggy Pay is liable for the relevant act or omission under mandatory law; the loss was directly caused by Piggy Pay’s breach of these Terms; Piggy Pay failed to exercise reasonable care in selecting or overseeing the Financial Partner; Piggy Pay knew of the Financial Partner’s material inability to provide the Services properly and failed to take reasonable action; or liability cannot be limited or excluded under applicable law.
Where an issue concerns a transaction or funds under the control of a Financial Partner, Piggy Pay will take reasonable steps to assist the Client, including submitting an enquiry to the Financial Partner; forwarding documents and explanations provided by the Client; requesting information concerning the status of the transaction; assisting in clarifying the reason for delay, rejection or return; informing the Client of required next steps; and assisting with return or other lawful settlement of funds.
Piggy Pay does not guarantee that the Financial Partner will grant the Client’s request, change its decision, release funds or complete a review within a particular period.
Piggy Pay will provide the Client with available status information to the extent permitted by law, Financial Partner requirements and confidentiality rules.
To the maximum extent permitted by applicable law, Piggy Pay is not liable for indirect, special, incidental, punitive or consequential losses that are not the direct and reasonably foreseeable result of Piggy Pay’s breach of obligation.
Excluded categories include, in particular:
• loss of profit, revenue, business opportunity, contract, client or anticipated savings;
• reduction in business value or loss of goodwill;
• interruption or delay of business operations;
• costs of obtaining replacement financing or an alternative payment service;
• losses arising from a change in the market value of a currency or virtual asset;
• tax consequences unless directly caused by Piggy Pay’s breach;
• losses arising from acts of a recipient, sender, bank, Financial Partner, correspondent bank, payment system, blockchain network operator or governmental authority; and
• other losses that Piggy Pay could not reasonably foresee when accepting the Payment Instruction.
Piggy Pay is also not liable for losses to the extent caused by incorrect, incomplete, outdated or inconsistent instructions from the Client; use of incorrect or outdated payment details; the Client’s selection of an incorrect currency, network, transfer method or recipient; an act or omission of an unauthorised person who gained access to the Account because the Client breached security requirements; refusal by a recipient to accept funds; a withholding or fee deducted by a correspondent bank, recipient bank or Financial Partner; a mandatory compliance review, sanctions screening or source-of-funds review; compliance with a requirement of a court, regulator, law-enforcement authority or other competent authority; technical unavailability of a telecommunications, banking, settlement, payment or blockchain network; restriction or discontinuation of a service by a Financial Partner; a Force Majeure Event; or another event outside Piggy Pay’s reasonable control.
This Section does not release Piggy Pay from its obligation to take reasonable steps to correct its own error, assist in tracing a payment and facilitate return of funds where factually and legally possible.
If, as a result of a proven error by Piggy Pay, a transaction was executed for an incorrect amount; sent other than in accordance with the Client’s correct Payment Instruction; duplicated without justification; incorrectly not executed after final acceptance for execution; or improperly debited from the Client’s balance, Piggy Pay will take reasonable steps to correct the transaction, including resubmitting the payment, correcting the balance, returning the amount incorrectly debited or assisting with recovery of funds.
To the maximum extent permitted by applicable law, Piggy Pay’s aggregate liability in relation to a particular transaction is limited to the lesser of:
• the amount of the Client’s direct, documented loss directly caused by Piggy Pay’s proven error; or
• the amount of the relevant transaction together with the fee actually retained by Piggy Pay for that transaction.
Fees and deductions of a Financial Partner, bank, correspondent bank, payment system or other independent third party are not treated as Piggy Pay fees. Piggy Pay will, however, take reasonable steps to assist in their recovery where they were deducted as a result of Piggy Pay’s proven error.
Piggy Pay’s liability does not include anticipated profit or benefit that the Client expected to derive from use of the funds; a change in exchange rates after the transaction date; losses arising after the Client became aware of the error but failed to take reasonable steps to mitigate them; or amounts reimbursed to the Client by a bank, insurer, Financial Partner, recipient or other third party.
Where a claim does not relate exclusively to one particular transaction, Piggy Pay’s aggregate liability for all related claims arising from one event or a series of related events is limited to the total fees actually paid by the Client directly to Piggy Pay for the relevant Service during the six months preceding the event giving rise to the claim.
A special liability cap may also be established for a Business Client in Special Terms, a fee plan or a separate agreement.
Nothing in these Terms excludes or limits Piggy Pay’s liability for wilful misconduct or fraud by Piggy Pay; gross negligence by Piggy Pay; direct loss caused by a proven unauthorised act of a Piggy Pay employee; breach of mandatory requirements concerning protection of Client funds; liability that cannot be excluded or limited under applicable law; mandatory Consumer rights to reimbursement, correction of an error or compensation; or any other circumstance in which application of a limitation would be unlawful.
The Client must take reasonable steps to prevent and mitigate losses, including timely notification to Piggy Pay of an error, provision of requested information and cooperation in recalling, tracing or returning a payment.
Piggy Pay is not liable for the portion of a loss that the Client could reasonably have prevented or mitigated but failed to do so.
To the maximum extent permitted by applicable law, the Business Client agrees to indemnify Piggy Pay, its affiliates, directors, officers, employees, representatives and contractors against reasonable and documented losses, liabilities, demands, claims, costs and expenses arising out of or in connection with:
• unlawful, fraudulent, prohibited or unauthorised use of the Services by the Business Client or a person to whom the Business Client granted access to the Account;
• a material breach of these Terms, Special Terms, Fees, mandatory instructions or rules governing use of the relevant Service;
• provision of false, incomplete, inaccurate, inconsistent, outdated or misleading information;
• concealment of the true nature of activities, beneficial owners, controlling persons, source of funds, purpose of transactions or the actual beneficiary;
• use of the Account, payment details or Platform for the benefit of an undisclosed third party;
• transfer of the Account, access credentials, a two-factor authentication method or actual control of the Account to an unauthorised person;
• use of payment details as a payment method for an unapproved storefront, website, application, payment page or other commercial channel;
• receipt of payments for goods or services that are inconsistent with the Business Client’s declared activities or are not actually provided by it;
• fraud, refund fraud, unlawful processing, pass-through movement of funds, fronting activity or use of fictitious documents;
• breach of sanctions law, anti-money laundering and counter-terrorist financing requirements, export-control rules or other mandatory restrictions;
• breach of law governing the Business Client’s activities, including failure to hold a required licence, registration, permit or approval;
• infringement of intellectual property, confidentiality, data protection, contractual or other rights of a third party;
• claims by clients, employees, contractors, suppliers, counterparties, payment systems, banks or governmental authorities arising from an act or omission of the Business Client;
• taxes, charges, duties, mandatory payments or regulatory obligations imposed on the Business Client;
• payment reversals, transaction disputes, refund claims, payment-system penalties and Financial Partner expenses where connected with the Business Client’s activities;
• damage to the Platform, infrastructure or reputation of Piggy Pay caused by the Business Client; or
• acts of directors, employees, representatives, agents, contractors and other persons to whom the Business Client granted authority or access.
Amounts subject to indemnification may include, in particular:
• amounts paid to third parties under a final decision, binding direction or agreed settlement;
• banking, partner, correspondent and payment fees;
• payment reversals and amounts of unauthorised or fraudulent transactions;
• penalties, charges and other assessments imposed by Financial Partners or payment systems;
• costs of investigation, monitoring, renewed verification and restoration of security;
• reasonable fees of legal counsel, experts, auditors and other professional advisers;
• court and administrative costs;
• costs of complying with requirements of a regulator, court or competent authority; and
• other direct and documented expenses reasonably incurred as a result of the relevant breach.
Piggy Pay may not obtain double recovery for the same loss. Amounts received by Piggy Pay from an insurer, Financial Partner, third party or another source in respect of the same loss will be deducted from the amount claimed from the Business Client.
Piggy Pay will notify the Business Client of an indemnification claim within a reasonable period after becoming aware of the relevant demand, claim or expense, provided that such notice is not prohibited by law, restricted by a requirement of a regulator, court or law-enforcement authority, or capable of prejudicing an investigation, review or protection of Piggy Pay’s interests.
Late notice does not release the Business Client from its indemnification obligation except for the portion of the loss that increased directly and solely because of the delay.
Where a claim is made by a third party, Piggy Pay may organise the defence itself; retain legal advisers of its reasonable choice; require the Business Client to provide documents, explanations, witnesses and other assistance; and permit the Business Client to participate in the defence at its own expense where this does not create a conflict of interest or prejudice Piggy Pay’s defence.
The Business Client must not admit liability on behalf of Piggy Pay, give commitments in Piggy Pay’s name or enter into a settlement without Piggy Pay’s prior written consent.
Piggy Pay must not unreasonably agree to a settlement that imposes non-monetary obligations on the Business Client, requires an admission of wrongdoing or restricts its activities unless the Business Client has agreed to those terms.
The Business Client must promptly provide requested information and documents; preserve evidence, transaction logs, contracts, correspondence and other relevant materials; assist with investigation and defence of claims; refrain from destroying or altering relevant information; and take reasonable measures to stop the breach and reduce potential losses.
Failure to cooperate may be treated as a separate material breach of these Terms.
To the extent permitted by applicable law, after giving notice and providing a reasonable calculation of the relevant amount, Piggy Pay may set off an amount payable under this indemnity against funds or payments due to the Business Client.
No such set-off may be made against funds whose retention or use is prohibited by law, a court order or mandatory safeguarding rules applicable to client funds.
The Business Client’s indemnification obligation does not apply to the extent that the relevant loss was directly caused by fraud by Piggy Pay; wilful misconduct by Piggy Pay; gross negligence by Piggy Pay; a proven breach of these Terms by Piggy Pay; Piggy Pay’s breach of mandatory applicable law; or an act for which Piggy Pay is independently liable under law.
Where a loss is caused jointly by Piggy Pay and the Business Client, the indemnification obligation applies only to the portion attributable to the act or omission of the Business Client.
Piggy Pay must take reasonable measures to prevent or reduce losses. The Business Client is not liable for the portion of a loss that Piggy Pay could reasonably have prevented but failed to prevent.
The obligations under this Section survive restriction or closure of the Account, discontinuation of the Services and termination of these Terms in respect of circumstances arising while they were in effect.
A complaint may be submitted:
• by email to [email protected];
• through a support channel available on the Platform; or
• by post to: Piggy Pay Inc., 1055 West Georgia Street, Suite 2100, Vancouver, British Columbia, V6E 3P3, Canada.
A complaint must include the Client’s full name or legal name; registered email address; details of the relevant transaction; a description of the issue; the requested form of resolution; and documents and other materials supporting the circumstances of the complaint.
Piggy Pay may request additional information and evidence of the complainant’s identity or authority.
Piggy Pay acknowledges receipt of and handles complaints within the periods required by applicable law.
Where no mandatory period is prescribed, Piggy Pay aims to acknowledge receipt of a complaint within five Business Days and provide a substantive response within fifteen Business Days. Complex matters or cases involving a Financial Partner may require additional time.
The response may include the outcome of the review, measures taken or proposed, a request for additional documents, or an explanation of why a final decision cannot yet be made.
Depending on the subject matter of the complaint and the applicable jurisdiction, the Client may have the right to contact a competent consumer-protection, privacy, financial-services or payment-services authority, a financial ombudsman, or a court.
The Financial Transactions and Reports Analysis Centre of Canada supervises anti-money laundering compliance in Canada and is not a general body for resolving commercial disputes.
The Bank of Canada supervises payment service providers within the scope of the Retail Payment Activities Act, but does not necessarily adjudicate individual contractual disputes or order compensation in every case.
Piggy Pay may modify, replace, suspend or discontinue a Service where reasonably necessary for legal, technical, commercial, compliance-related reasons or reasons connected with Financial Partners.
Such changes may include changes to available currencies, payment methods, limits, payment details, interface, functionality, Financial Partners, territorial coverage, verification requirements or processing times.
Piggy Pay may amend these Terms by giving notice by email, through the Platform or by another durable medium.
For Business Clients, changes may take effect after not less than three calendar days’ notice, except where a longer period is required; the change benefits the Client; immediate application is required by law, for security reasons or by a Financial Partner; or an individual agreement provides otherwise.
Consumers will receive the notice period required by mandatory applicable law.
Continued use of the Services after an amendment takes effect constitutes acceptance of the amendment, except where the law requires separate consent. A Client that does not agree with an amendment may stop using the affected Service and request closure of the Account before the amendment takes effect, after settlement of pending transactions and obligations.
Piggy Pay is not liable for delay, suspension, restriction or inability to perform obligations under these Terms where caused by an event or combination of events that is outside Piggy Pay’s reasonable control; could not reasonably have been prevented or overcome by Piggy Pay using commercially reasonable measures; and directly prevents provision of the Services or performance of the relevant obligation.
Such circumstances are referred to in these Terms as a “Force Majeure Event”.
Force Majeure Events may include, in particular:
• failure, suspension of business, insolvency, operational restriction or technical unavailability of a bank, Financial Partner, correspondent bank, payment system, settlement organisation, blockchain network operator or recipient institution;
• termination or material restriction of access to bank accounts, payment details, settlement infrastructure, liquidity or correspondent relationships;
• failure of the Internet, telecommunications networks, data centres, cloud infrastructure, messaging systems or other critical technology services;
• cyberattack, distributed denial-of-service attack, malware, unauthorised interference, infrastructure compromise or another material information-security incident;
• widespread power outage, utility infrastructure failure or physical damage to equipment;
• fire, flood, earthquake, hurricane, storm, extreme weather or another natural disaster;
• epidemic, pandemic, quarantine, public-health emergency or related mandatory restrictions;
• war, hostilities, armed conflict, invasion, mobilisation, terrorism, sabotage, civil unrest, insurrection, coup d’état or other political instability;
• strike, lockout, labour dispute or widespread unavailability of personnel where Piggy Pay could not reasonably prevent the resulting consequences;
• introduction, expansion or amendment of sanctions, embargoes, export restrictions, currency controls, capital controls or other mandatory financial measures;
• adoption, amendment, repeal or new interpretation of a law, regulation, regulatory requirement, mandatory standard or payment-system rule;
• act or omission of a court, regulator, law-enforcement authority, governmental authority, central bank, tax authority or other competent organisation;
• mandatory suspension, blocking, freezing or restriction of transactions, funds, a currency, country, payment method or Client category;
• discontinuation of a material service by a provider where Piggy Pay could not reasonably and promptly replace that provider; or
• another comparable event outside Piggy Pay’s reasonable control.
For the duration of a Force Majeure Event, Piggy Pay’s affected obligations are suspended or performed in a modified scope to the extent that proper performance has become impossible, unlawful, unsafe or commercially impracticable.
Where reasonably necessary, Piggy Pay may temporarily suspend individual Services; restrict access to particular currencies, countries, payment methods or functions; change the procedure or timing for processing transactions; suspend acceptance of new Payment Instructions; defer execution of instructions already accepted; route a transaction through an alternative payment channel; replace a Financial Partner or infrastructure used; return funds to the sender or to a verified Client account or wallet where possible and lawful; request additional information or documents; or take other reasonable measures to protect Clients, Piggy Pay, Financial Partners and payment infrastructure.
Where a Force Majeure Event materially affects availability of the Services or execution of a transaction, Piggy Pay will, to the extent reasonably practicable and permitted by law, inform the Client by a notice in the personal account; a message to the registered email address; a publication on the website or status page; or another available communication channel.
The notice may include a general description of the event, the affected Services, expected consequences and actions available to the Client.
Piggy Pay is not required to disclose information where disclosure is prohibited by law, could prejudice security, an investigation or interaction with a Financial Partner, or could interfere with compliance with a binding requirement of a competent authority.
Piggy Pay takes reasonable and commercially appropriate measures to restore affected Services; use available backup systems and alternative routes; cooperate with Financial Partners and infrastructure providers; prevent further losses; preserve available data and payment information; inform Clients of material changes; and lawfully settle pending transactions.
Piggy Pay is not required to take measures that are unlawful, technically impossible, disproportionately costly, create a security threat, or require continuation of a relationship with a partner whose use has become prohibited or unsafe.
A Force Majeure Event does not by itself terminate the Client’s entitlement to funds belonging to the Client.
If a transaction cannot be completed, Piggy Pay will take reasonable steps to complete it after the relevant impediment ends; route it through an alternative channel; return the funds to the Client; return the funds to the original sender; retain the funds until completion of a mandatory review or removal of a legal restriction; or otherwise settle the matter lawfully.
The timing of a return or other settlement may depend on a bank, Financial Partner, payment system, blockchain network, governmental authority or another participant outside Piggy Pay’s control.
The returned amount may be reduced by fees actually retained by banks, correspondent banks, payment networks and other independent participants, unless those fees arose from a proven error by Piggy Pay.
If a Force Majeure Event continues for a period that makes further provision of a particular Service impossible, unlawful or economically impracticable, Piggy Pay may discontinue that Service; replace it with an available alternative; close the relevant payment details; discontinue support for a particular currency, country or payment method; or terminate these Terms in whole or in the relevant part.
In that case, Piggy Pay will take reasonable steps to notify the Client and settle remaining funds and pending transactions in accordance with applicable law.
Piggy Pay may not rely on a Force Majeure Event to the extent that a delay or non-performance was directly caused by fraud by Piggy Pay; wilful misconduct by Piggy Pay; gross negligence by Piggy Pay; failure to maintain reasonable contingency and operational-risk management measures required of Piggy Pay by law; or breach of mandatory applicable law.
A shortage of funds, liquidity or personnel does not by itself constitute a Force Majeure Event where it results from ordinary commercial risk or improper management by Piggy Pay and was not directly caused by an external event satisfying Section 24.1.
The Client may not assign rights or obligations under these Terms without Piggy Pay’s prior written consent.
Piggy Pay may assign or transfer its rights and obligations, engage a subcontractor or substitute a party in relation to some or all Services to an affiliate; in connection with a merger, reorganisation, restructuring, financing or sale of a business or assets; to a successor or service provider; or where reasonably necessary to provide the Services, comply with law or change a Financial Partner.
Such transfer does not release Piggy Pay from obligations that cannot be transferred or excluded under applicable law.
For Consumers, any assignment is subject to mandatory law and must not unlawfully reduce their rights.
These Terms and the documents incorporated into them constitute the entire agreement between the Client and Piggy Pay concerning their subject matter, except for statements, warranties or rights that cannot lawfully be excluded.
If any provision of these Terms is held invalid, unlawful or unenforceable, the remaining provisions remain in effect. The invalid provision will be interpreted, limited or replaced so as to preserve its lawful commercial purpose to the maximum extent possible.
Failure or delay in enforcing any provision or right does not constitute a waiver of it and does not prevent its later enforcement.
These Terms do not create a partnership, joint venture, employment, agency, trust or fiduciary relationship between the Client and Piggy Pay. The Client must not represent that it acts on behalf of Piggy Pay or has authority to bind Piggy Pay unless a written agreement expressly provides otherwise.
Headings are for convenience only and do not limit interpretation of these Terms.
Provisions concerning fees, indebtedness, security, confidentiality, data processing, intellectual property, liability, indemnification, disputes, pending transactions, reviews and other obligations that by their nature should continue remain in effect after restriction or closure of the Account and termination of these Terms.
Unless a separate written agreement between Piggy Pay and a Business Client expressly provides otherwise, these Terms, the Special Terms, the relationship between the Parties, and all contractual and non-contractual obligations, claims or disputes arising out of or in connection with them are governed by and construed in accordance with the laws of the Province of British Columbia and applicable federal laws of Canada.
Application of conflict-of-laws rules that would result in application of the law of another jurisdiction is excluded to the maximum extent permitted by law.
The choice of British Columbia law does not exclude application of mandatory provisions of Canadian federal law; sanctions, anti-money laundering and counter-terrorist financing law; payment-services and virtual-currency law; law of the country or territory in which a particular transaction is executed; law binding on the relevant Financial Partner, bank, payment system or blockchain transaction; or other provisions whose application cannot be excluded by agreement of the Parties.
The Business Client irrevocably agrees that the courts of the Province of British Columbia located in Vancouver, Canada have exclusive jurisdiction over any dispute, claim, action or proceeding arising out of or in connection with these Terms, the Account, Platform or Services.
The Business Client submits to the personal jurisdiction of those courts; waives, to the maximum extent permitted by law, objections to venue; may not contend that a court in Vancouver is an inconvenient or inappropriate forum; and agrees that court documents may be served at its last known address and registered email address to the extent permitted by applicable procedural rules.
This Section does not prevent Piggy Pay from applying to a court or other competent authority in another jurisdiction for interim or urgent protective relief; to prevent fraud, infringement of intellectual property rights, misuse of a trademark or unauthorised access to the Platform; to freeze, preserve or recover funds; to enforce a judgment; where assets, evidence, a defendant or another relevant person is located in another jurisdiction; or where an application in that jurisdiction is required by applicable law.
Such an application by Piggy Pay does not constitute a waiver of the chosen governing law or the jurisdiction of the courts of British Columbia in respect of the merits of the dispute.
Where the Client is a Consumer, the provisions of this Section concerning governing law and jurisdiction apply only to the extent that they do not restrict the Consumer’s mandatory rights.
These Terms are governed by the laws of British Columbia and applicable federal laws of Canada; however, that choice of law does not deprive the Consumer of protection provided by mandatory rules of the country, state, province or territory of the Consumer’s habitual residence; does not exclude application of mandatory rules concerning payment services, electronic transfers, refunds, correction of errors and protection of personal information; does not restrict the Consumer’s right to apply to a court, administrative body, consumer-protection authority or other competent body having jurisdiction under applicable law; does not shorten statutory limitation periods; and does not require the Consumer to waive rights that cannot be waived by law.
Where mandatory law does not give the Consumer the right to another forum, the dispute may be submitted to a competent court of the Province of British Columbia.
Nothing in these Terms deprives a Consumer of protection provided by mandatory applicable law or limits rights that the Consumer cannot waive by law.
A particular transaction or Service provided, executed or technically serviced by a Financial Partner may additionally be governed by the law of the Financial Partner’s country or territory; the law of the country of the sender bank or recipient bank; correspondent-bank rules; rules of a payment, card or settlement system; rules of the relevant blockchain network; terms of the issuer of a supported stablecoin; requirements of a regulator or competent authority of the relevant jurisdiction; and special terms of a particular payment route.
Such rules may determine the timing and procedure for execution of a transaction; the time at which a payment becomes final; the number of confirmations required for a blockchain transaction; grounds for refusal, suspension, return or freezing of funds; mandatory sender and recipient information; limits, fees and correspondent deductions; procedures for investigation, correction of errors and payment recall; complaint-handling procedures; applicable claim periods; and available out-of-court and judicial dispute-resolution mechanisms.
Application of such rules does not make the Financial Partner a party to these Terms unless expressly provided by a separate agreement.
If these Terms conflict with mandatory requirements applicable to a particular transaction or Financial Partner, those mandatory requirements prevail only in respect of the affected transaction or Service.
If the Client separately accepts terms of a Financial Partner, those terms govern the relationship between the Client and that Financial Partner within the scope of the service expressly provided by it.
As between the Client and Piggy Pay, these Terms remain in force unless law or a written agreement expressly provides otherwise.
Before commencing court proceedings, a Party must send the other Party a written description of the dispute containing information about the Client; the number or identifier of the relevant transaction; a description of the circumstances; the alleged breach; the requested remedy; and supporting documents.
A notice to Piggy Pay must be sent through the official support channel or to [email protected].
The Parties agree to attempt in good faith to resolve the dispute through negotiations for thirty calendar days after receipt of a complete notice.
This procedure does not prevent submission of an ordinary complaint to support; a Consumer’s application to a competent authority; an application for urgent interim relief; action necessary to prevent expiration of a limitation period; or compliance with a binding requirement of a governmental authority.
The Client may use Piggy Pay’s internal complaint-handling procedure.
Depending on the nature of the Service, the Client’s country and the status of the Financial Partner, the Client may also have the right to apply to a consumer-protection authority; a financial ombudsman; a data-protection supervisory authority; the regulator of the Financial Partner; an authority supervising payment services; or another competent administrative or out-of-court body.
An application to such a body does not guarantee that it has authority to decide the particular dispute or award compensation.
Nothing in this Section limits mandatory Consumer rights; the right to report a suspected violation to a competent authority; the right to cooperate with a governmental authority; the right to seek urgent judicial protection; the right to dispute an unauthorised transaction in the manner prescribed by mandatory law; or rights that a Party cannot waive by law.
The Client may use the following contact details to contact Piggy Pay and submit notices, requests, complaints and documents:
Legal name: Piggy Pay Inc.
Company registration number: BC1480666
Operational office in Canada: 1055 West Georgia Street, Suite 2100, Vancouver, British Columbia, V6E 3P3, Canada
Telephone: +1 778 373 1171
Website: piggypay.io
Official inquiries: [email protected]
Client support: [email protected]
Registration with the Financial Transactions and Reports Analysis Centre of Canada as a money services business: C100000051
Registration with the Bank of Canada as a payment service provider under the Retail Payment Activities Act: CASE-01899-H1J4D7
The Client must send communications relating to Account security, suspected unauthorised access, loss of a device, compromise of access credentials or a disputed transaction to [email protected].
An official notice from the Client is deemed received by Piggy Pay after delivery to the relevant email address or through a support channel made available on the Platform.
Piggy Pay may request additional information, documents or verification of the sender’s identity before considering a request or acting on instructions contained in it.
Contact details may change. Current details are published on Piggy Pay’s official website and, where appropriate, communicated to the Client through the personal account or registered email address.
“Account” means the Client profile and access environment created on the Platform.
“Business Client” means a Client acting wholly or mainly for purposes connected with its trade, profession or business activity.
“Business Day” means a day on which the relevant Financial Partner and payment system are open to process the relevant transaction.
“Consumer” means an individual acting wholly or mainly outside the purposes of that individual’s trade, profession or business activity.
“Fees” means fees published or otherwise provided by Piggy Pay, as amended from time to time.
“Financial Partner” means a bank, payment institution, electronic money institution, money transfer operator, money services business, virtual currency service provider, payment processor, liquidity provider or other regulated or authorised provider used to provide a Service.
“Payment Instruction” means an instruction to initiate or execute a payment, transfer, conversion or other transaction.
“Platform” means the Piggy Pay website, application, personal account, application programming interface and related technical infrastructure.
“Service” means a function or service available through the Platform and provided by Piggy Pay, a Financial Partner or both jointly.
“Special Terms for a particular Service” means additional terms applicable to a particular Service, payment method, currency, route or Financial Partner.
“Terms” means these General Terms of Service and the documents incorporated into them.
“Virtual Currency” means a digital representation of value that may be transferred, stored or exchanged electronically and is supported by Piggy Pay for a particular Service.
“Stablecoin” means a supported Virtual Currency designed to maintain value by reference to a specified fiat currency or other underlying asset.
“Virtual Wallet” means an address, balance and related technical infrastructure used to receive, hold, display or transfer supported Virtual Currency.
“Peer-to-Peer Transaction” or “P2P Transaction” means the direct or indirect purchase of Virtual Currency from a third party or its sale to a third party outside Piggy Pay’s exchange process, regardless of the platform, settlement method or label applied to the transaction.
“Prohibited Jurisdiction” means a country or territory in relation to which Piggy Pay or a Financial Partner prohibits or restricts access to the Services on the basis of law, sanctions, requirements of a competent authority, risk assessment or internal policy.