CiNKO Digital Wallet Privacy Policy

Section A - Definitions

CiNKO Mobile App means the mobile application operated by CiNKO.

Mobile Application Transaction means a transaction and/or Service offered by CiNKO performed by a CiNKO User through the CiNKO Mobile Application.

CiNKO User means an individual or business entity that is a user of CiNKO's products and services.

CiNKO refers to the digital payment platform that operates through both the CiNKO mobile app and the CiNKO website. CiNKO is a brand of Pago Digital, a legal entity authorized and operating under various licenses issued by regulatory bodies throughout Latin America. Through these licenses, CiNKO provides digital payment services to its users in compliance with the relevant regulatory frameworks. By agreeing to these Terms, users are contracting with Pago Digital, which operates under the CiNKO brand.

Electronic money means a digital representation of fiat currency.

Transfer of stablecoins means the movement of stablecoins as USDC.

Restricted country means countries in which CiNKO does not operate.

Third Party means an individual, group or business entity that provides products or services directly to CiNKO or its Clients on CiNKO's behalf.

Section B - General Conditions of Service ("Conditions")

1. Registration

1.1 These Terms constitute a framework agreement providing for the use of the CiNKO Mobile App, and other CiNKO Services as set forth in Clause 4.1. Before being able to use the CiNKO Mobile App and benefit from the CiNKO Services, Users are required to:

1.1.1 read these Terms and Conditions and check the box confirming the accuracy of the information provided and your agreement to them; and

1.1.2 provide CiNKO with such documentation, verification and information as may be reasonably requested in order to comply with any and all of CiNKO's regulatory obligations.

1.2 You confirm that You have provided correct and updated information during the process of registration and creation of an account in the CiNKO mobile application. You undertake that, if your details change, you will notify us immediately. You shall bear any loss arising due to the submission of invalid, incorrect or inaccurate Information.

1.3 These Terms incorporate the Website Terms, the Cookie Policy, the Privacy Policy, the Website Acceptable Use Policy, the Mobile Application Terms, the Referral Program Terms and any Supplements by this reference. By agreeing to these Terms, you are deemed to accept the terms and conditions of our third party service providers, including, but not limited to, the relevant CiNKO Account Holder Terms.

Regulatory information

These Terms are between you (the "CiNKO User", "you" or "your") and CiNKO ("CiNKO", "we", "us" or "our"). CiNKO operates under the necessary Payments and Electronics licenses from regulators in Latin America and the Caribbean. These licenses may be registered in the name of CiNKO or its affiliates. For more information on the licenses held by CiNKO and/or its affiliates, please contact us.

3. Home and your CiNKO Account

3.1 These Terms shall commence on the day CiNKO confirms to you via the CiNKO Mobile Application that your CiNKO Account has been approved and activated and shall continue in force until terminated in accordance with Clause 20 (Amendments to these Terms) and/or Clause 23 (Termination) of these Terms.

3.2 Your CiNKO Account is a user profile in the CiNKO Mobile Application, where e-money is stored. E-money represents a monetary value issued to you and is reflected as a balance in your CiNKO Account after being redeemed for money received by CiNKO on your behalf. You can use e-money to perform transactions on the Mobile Application and access other services offered by CiNKO.

4. CiNKO Mobile Application Transactions and Services

4.1 The CiNKO Mobile Application is our portal where CiNKO Users can perform the following Mobile Application Transactions and use the Services offered by CiNKO, which include;

4.1.1. Create a CiNKO User account.

4.1.2. Verify your identity with us in order to create a CiNKO User Account.

4.1.3. Provide all additional documentation and information necessary to complete additional or enhanced due diligence requirements, when necessary.

4.1.4. To debit the account by remittance of funds, credit card transfers and wire transfers, including regular transfers.

4.1.5. Charge the account by stablecoin transfer or through other partners of our ecosystem.

4.1.6. To charge the account by means of cryptocurrency exchange.

4.1.7. Making person-to-person payments and instant transfers.

4.1.8. Purchase goods and/or services from participating merchants.

4.1.9. Make mobile recharges to mobile operator accounts.

4.1.10. View the transaction history of your CiNKO User Account.

4.1.11. View the balance of the E-money you have in your CiNKO User Account.

4.1.12. Activate or deactivate your CiNKO User Account.

4.1.13. Change the security access PIN on your CiNKO User Account and access other security features.

(collectively referred to as "Transactions through the mobile application" and/or "Digital Wallet Services" and/or "Services")

4.2 CiNKO may, on reasonable grounds and at its sole discretion, refuse to enter into or give effect to any Transaction through the Mobile Application. In the event that a Transaction through the Mobile Application is declined, we will provide details or the reason via a notification through the CiNKO Mobile Application.

4.3 All Transactions through the Mobile Application are subject to CiNKO's Transaction Limits (discussed in Clause 12 below).

4.4 CiNKO provides virtual receipts for Mobile Application Transactions, which are accessible to CiNKO Users through the CiNKO Mobile Application. CiNKO will not provide and is under no obligation to provide you with a physical receipt or other written confirmation in connection with any Mobile Application Transaction and/or Service facilitated by CiNKO.

5. Identity verification

5.1. You agree to cooperate with all requests made by us or any of our third party service providers on our behalf in connection with your CiNKO User Account, to identify or authenticate your identity or validate your funding sources for Mobile Application Transactions. This may include, but is not limited to, asking you for further information that would allow CiNKO to reasonably identify you, including requiring you to take steps to confirm ownership of your phone number or payment instruments or verify your personal information against third party databases or through other sources.

5.2. We reserve the right to close, suspend or limit access to your CiNKO User Account and/or your ability to perform any Transaction and/or Mobile Application Service in the event that we are unable to obtain or verify such information, or you fail to comply with our requests under Section 5.1 of these Terms.

We may confidentially verify information you provide to us or obtain information about you on our own or through third parties from secure databases. Some of the searches that we or a third party may perform, such as a credit check, may leave a soft footprint on your credit history. This will not affect your credit rating. By agreeing to these Terms, you confirm that you consent to us or a third party on our behalf carrying out such checks.

The User agrees to provide accurate, current and complete information during the registration process and to update such information as necessary to ensure that it remains accurate, current and complete at all times. This includes, but is not limited to, the User's contact information, identification data and any other data required by applicable regulations.

5.5. The User acknowledges that failure to provide accurate and updated information may result in restricted access, suspension or termination of its CiNKO Account and/or Services. CiNKO reserves the right to request additional verification or updated information at any time to comply with legal, regulatory or internal requirements. The User shall assume all risk and liability arising from any inaccurate, incomplete or outdated information provided to CiNKO.

6. Person-to-person payments and instant transfers

6.1 CiNKO Users can make Person-to-Person Payments as well as Instant Transfers (collectively "Payments and/or Transfers") using their Electronic Money through the CiNKO Mobile Application.

6.2 You can request to affect Payments and Transfers by logging into your CiNKO User Account in the CiNKO Mobile Application and following the on-screen instructions.

6.3 You must enter the details of the Intended Recipient in the CiNKO mobile application (the "unique identifier"). It is your responsibility to ensure that the unique identifier of the intended Recipient is entered correctly. Any errors may result in the Payment and/or Transfer not being made or being delayed. We will not be liable for any loss incurred by you as a result of entering an incorrect unique identifier.

6.4 If the Intended Recipient already has a CiNKO user account, i.e. is already an active CiNKO user, he/she will be informed in the CiNKO mobile application, prior to confirming his/her request for:

6.4.1 the name of the Recipient (according to your CiNKO User Account);

6.4.2 the amount and currency of the e-money you wish to send to the recipient.

6.5 To complete the submission of the request to make a Payment and/or Transfer, you must confirm the data entered by selecting the "Submit" button in the relevant part of the CiNKO Mobile Application. Once you have provided this confirmation (provided that the recipient is already a CiNKO User), CiNKO shall be deemed to have received your request to make the Payment and/or Transfer.

6.6 If the Recipient is not already a CiNKO User, the request to make a Payment and/or Transfer will be pending for 72 hours (excluding weekends and holidays). The request to make the Payment and/or Transfer will not be deemed received until the Recipient is verified and approved as a CiNKO User, within 72 hours (excluding weekends and holidays in the applicable jurisdiction) in which the Payment and/or Transfer is pending. The Recipient will receive an SMS notification with instructions on how to open a CiNKO Account. You authorize CiNKO to send an SMS to the Recipient on your behalf.

6.7 If the Recipient does not register and log in as a CiNKO User within 72 hours of CiNKO sending the SMS notification, the pending request to make the Payment and/or Transfer will be cancelled.

6.8 For clarification, if the Recipient is not already a CiNKO User then:

6.8.1 the request to enter into the Payment and/or Transfer shall be pending and shall not be deemed to have been received by us until the non-CiNKO User has been verified as a CiNKO User;

6.8.2 the Payment and/or Transfer shall be completed no later than the end of the Business Day following the day on which the Recipient becomes a CiNKO User, provided that the Recipient becomes a CiNKO User before the pending Payment and/or Transfer expires.

6.9 Once your Payment and/or Transfer has been submitted and accepted, and the Payment and/or Transfer request has been affected by us, you will be able to view the details of the completed transaction in the service in the CiNKO Mobile Application dealing with the Transaction History.

6.10 If you are the E-money Recipient in your CiNKO User Account, we will send you a notification via the CiNKO Mobile Application and display the details of the transaction in your Transaction History in the CiNKO Mobile Application.

7. Exchange of cryptocurrency for fiat currency

7.1 Exchange procedure

7.1.1 Users can initiate a cryptocurrency to fiat currency exchange through the CiNKO Mobile Application.

7.1.2 Whenever a user initiates a cryptocurrency to fiat currency exchange through the CiNKO Mobile App, they will be presented with an exchange rate based on the real-time market rate before they can choose to proceed.

7.1.3 When querying the address of their BTC (or other cryptocurrency) wallet, users will see an estimated conversion rate next to the address. This exchange rate will be referred to as the "quoted exchange rate".

7.1.4 The quoted exchange rate is determined based on real-time market exchange rates. Given the rapid fluctuation of the market, there may be cases where the quoted exchange rate varies slightly from the amount actually credited to the User's CiNKO Mobile Account.

7.1.5 Users may choose to proceed with the exchange based on the quoted exchange rate by selecting the appropriate option in the application.

7.1.6 Once the User confirms the exchange, the cryptocurrency amount will be deducted from his wallet, and the equivalent amount in fiat currency, based on the real-time market exchange rate at the time of the transaction, will be credited to his CiNKO Mobile Account.

7.2 Exchange limits

7.2.1 While there is no specific pre-set limit on the amount of cryptocurrency that can be exchanged per transaction, Users will be subject to the standard account limits that apply to their respective CiNKO Mobile Account and the verification steps they have completed.

7.2.2 Specific limits will be displayed in the CiNKO mobile application where applicable.

7.3 Settlement terms

7.3.1 The fiat currency equivalent of the exchanged cryptocurrency will be credited to the User's CiNKO Mobile Account within typically 24-48 hours.

7.3.2 Delays may occur due to non-compliance with User's verification limits, network congestion, unavailability of local banking transactions or extended local bank processing times. These circumstances are beyond CiNKO's control, and CiNKO will accept no responsibility for any shortfall the User may experience as a result of changes in the quoted price.

7.3.3 Where delays occur, CiNKO shall not be liable for variations or fluctuations in the exchange rate applicable at the exact time the transaction is processed. Although CiNKO provides a "quoted price" on the CiNKO Mobile Application at the time the User requests this transaction, the "quoted price" may fluctuate slightly as a result of the variation in real-time market rates.

7.3.4 However, CiNKO shall at all times endeavor to process the transaction request as soon as possible.

7.4 Compliance and reporting

7.4.1 All exchanges of cryptocurrency for fiat currency shall be subject to applicable laws and regulations.

7.4.2 Users must comply with all KYC (Know Your Customer) and AML (Anti-Money Laundering) requirements as stipulated by CiNKO and the relevant authorities.

7.4.3 Users are encouraged to familiarize themselves with CiNKO account limits, KYC, and AML policies.

7.5 Cancellations and cancellations

7.5.1 Once a cryptocurrency to fiat currency exchange has been initiated, it cannot be cancelled or reversed.

7.5.2 Users are advised to carefully review all details before confirming the transaction.

7.6 Notifications

7.6.1 Users will be able to track their transactions in the CiNKO Mobile Application.

7.6.2 Users will receive a confirmation once the fiat currency has been credited to their account in the CiNKO Mobile Application.

7.7 Liability

7.7.1 CiNKO shall not be liable for losses caused by exchange rate fluctuations or delays in the processing of redemptions.

7.7.2 Users agree to assume all risks associated with the exchange of cryptocurrency for fiat currency.

8. Shopping in stores

8.1 You may use your CiNKO Account to purchase goods and/or services from participating merchants, either online or at a point of sale terminal. In such case, we will redeem E-money into your CiNKO User Account and the equivalent amount of money will be sent to the merchant, less the fees of CiNKO (acting as the E-money Issuer). You must follow the specific instructions of the applicable website or point-of-sale terminal to perform such Services.

9. CiNKO account balances and negative balances

9.1 You acknowledge that the CiNKO Account Balances and available funds shown in the CiNKO Mobile Application are only approximate real-time balances and not the settled balances in your CiNKO User Account. A real-time balance may not take into account outstanding debits and credits. CiNKO will provide you with information on outstanding debits and credits as soon as such information is available.

9.2 You agree to maintain at all times a positive balance of Electronic Money stored in your CiNKO User Account. If for any reason (including, but not limited to, any technical errors on our behalf or on behalf of our third party providers) you have a negative balance with respect to the Electronic Money stored in your CiNKO User Account, you agree to immediately debit the amount required to correct the negative balance, such amounts being due without prior notice to you. If you fail to do so, we may

9.2.1 initiate a chargeback procedure for any specific transaction that has resulted in your CiNKO User Account having a negative balance.

9.2.2 take steps to collect the debt, including but not limited to instructing a debt collection agency or solicitors, or taking the claim to court. We reserve the right to charge you for any expenses we reasonably incur in connection with any collection or enforcement action;

9.2.3 request you to make a remittance of funds to correct a negative balance. If you fail to do so within 7 Business Days, you authorize us to initiate a payment transaction for the amount of the negative balance (or the equivalent in another currency) charged to one of your Credit Cards or User Bank Accounts.

10. Security

10.1 It is your responsibility to take all reasonable steps to:

10.1.1 ensure that your personal cell phone and mobile PIN are kept safe and secure.

10.1.2 ensure that access to the CiNKO mobile application on your personal mobile is kept safe and secure.

10.1.3 ensure that the PIN of your CiNKO User Account is kept safe and secure; and

10.1.4 ensure that (if issued) your NFC payment tag is secure and in your possession.

10.2 The requirement of clause 10.1 includes, but is not limited to, for the avoidance of doubt:

10.2.1 close the CiNKO mobile application when not in use;

10.2.2 keep the cell phone you use to access the mobile application secure and locked with a strong password or other security mechanism;

10.2.3 do not write down or communicate to anyone the PIN of your cell phone;

10.2.4 Change the mobile PIN on a regular basis;

10.2.5 if you receive SMS or e-mails, questionnaires, surveys or other links asking you to provide your mobile PIN, please do not provide your details and contact our customer service team by e-mail;

10.2.6 ensure that the mobile and email account(s) you use to communicate with us are secure and only you have access to them, as the mobile and email address may be used to reset the mobile PIN or to send information regarding the security of the mobile application;

10.2.7 if at any time you believe that your mobile PIN has been lost or stolen or that anyone else knows your mobile PIN or has access to your email account or the cell phone you use to communicate with us, please inform customer service immediately by email.

10.3 All CiNKO Mobile Application Transactions are processed by automated methods, and anyone who obtains access credentials to the CiNKO Mobile Application could use them to perform Mobile Application Transactions without your permission. If you observe misuse, theft or unauthorized use of your CiNKO Mobile App, Mobile PIN or any other activity that makes you suspicious, you should contact the Customer Care Team and, if possible, activate appropriate security features such as biometric authentication and 2FA on the CiNKO Mobile App. If you suspect identity theft or e-money theft, we suggest that you also contact your local police.

11. Restrictions on Use of CiNKO Services

11.1 Not permitted:

11.1.1 use the CiNKO Services for any illegal purpose, including but not limited to fraud and money laundering, illegal sexually oriented materials or services, counterfeit products, illegal gambling activities, financing terrorist organizations, illegal purchase or sale of tobacco, firearms, prescription drugs, other controlled substances or other products prohibited by law. CiNKO will report any suspicious activity and cooperate with any relevant law enforcement or regulatory agency;

11.1.2 use the CiNKO Services to abuse, exploit or circumvent restrictions on use imposed by a merchant on the services it provides, or to obtain goods or services without paying the amount due in whole or in part;

11.1.3 breach these Terms, CiNKO's Account Holder Terms (as applicable) or any other agreement or policy you have agreed with CiNKO or CiNKO (acting as Card Issuer);

11.1.4 create, or attempt to create, more than one CiNKO User Account using the same or similar credentials, including but not limited to, name, contact information, identification documents, or other identifying details, without CiNKO's prior written approval.

11.1.5 use the CiNKO Services to violate any law, statute, ordinance or regulation;

11.1.6 use the CiNKO Services for any illegal purpose, including the purchase or sale, or the facilitation of the purchase or sale, of illegal goods or services;

11.1.7 infringe CiNKO's or any third party's copyrights, patents, trademarks, trade secrets or other intellectual property rights, or rights of publicity or privacy;

11.1.8 act in a defamatory, libelous, slanderous, threatening or harassing manner when using the CiNKO Services;

11.1.9 provide us with false, inaccurate or misleading information;

11.1.10 use CiNKO Services to perform debt collection activities;

11.1.11 instruct us to send or receive on your behalf what we reasonably believe to be potentially fraudulent funds;

11.1.12 intentionally or knowingly attempt to receive or attempt to receive funds from both CiNKO and a Merchant for the same CiNKO Transaction;

11.1.13 control a CiNKO User Account that is linked to another CiNKO User Account that has engaged in any of these Restricted Activities;

11.1.14 conduct your business or use the CiNKO Services in a manner that may give rise or may give rise to complaints, disputes, reversals, chargebacks, fees, fines, penalties or other liabilities to CiNKO, other Users, third parties or you;

11.1.15 use your CiNKO User Account or the CiNKO Services in a manner that CiNKO (acting as Account Issuer), Visa, MasterCard, American Express, Discover or any other electronic funds transfer network reasonably believes to be an abuse of the CiNKO system or a violation of card association or network rules;

11.1.16 to allow your CiNKO User Account to have a negative balance;

11.1.17 providing yourself with a cash advance on your credit card (or helping others to do so);

11.1.18 take any action that imposes an unreasonable or disproportionately large load on our infrastructure; facilitate any viruses, Trojan horses, worms or other computer programming routines that may damage, detrimentally interfere with, surreptitiously intercept or expropriate any system, data or information; use an anonymizing proxy; use any robot, spider, other automatic device or manual process to monitor or copy our Website without our prior written permission; or interfere or attempt to interfere with the CiNKO Services;

11.1.19 take any action that may cause us to lose any of the services of our Internet service providers, payment processors or other providers;

11.1.20 circumvent any CiNKO policy or determination regarding your CiNKO User Account including, but not limited to, attempting to create a new or additional CiNKO User Account when a CiNKO User Account has a negative balance or has been restricted, suspended or otherwise limited; creating a new or additional CiNKO User Account using Information that is not yours (e.g., name, address, email address, etc.); or using another person's CiNKO User Account;

11.1.21 harass our employees, agents or other CiNKO Users;

11.1.22 refuse to cooperate in an investigation or to provide confirmation of your identity or any Information you provide to us;

11.1.23 use the CiNKO Services in a manner that we believe may constitute a violation of any applicable electronic payment network, card association or network rules, or applicable law;

11.1.24 refuse to provide or fail to provide such additional information about you or your business activities as we may reasonably request;

11.1.25 conduct your business or use the CiNKO Services in a manner that would lead us to receive a disproportionate number of complaints or chargebacks;

11.1.26 disclose your Mobile PIN or Card PIN to anyone or use anyone else's CiNKO Mobile Application or CiNKO Card;

11.2 You must ensure that You only conduct CiNKO Mobile App Transactions relating to the sale or supply of goods and services in compliance with all applicable laws and regulations. The fact that a person or entity accepts payments through a CiNKO Mobile App Transaction is not indicative of the legality of the supply or provision of the goods or services.

11.3 We reserve the right to refuse to enter into a CiNKO Mobile Application Transaction directly or indirectly associated with any Restricted Country.

11.4 If CiNKO, in its sole discretion, believes that you may have breached the provision of this Clause, we may take action to protect ourselves, other CiNKO Users and third parties. The actions we may take include, but are not limited to:

11.4.1 close, suspend or limit your access to your CiNKO User Account or to any or all CiNKO Services.

11.4.2 contact other CiNKO users who have transacted with you; contact your bank or credit card issuer; and/or warn other CiNKO users, law enforcement or other affected third parties of your actions;

11.4.3 update inaccurate Information you have provided to us;

11.4.4 take legal action against you;

11.4.5 terminate these Terms or access to the CiNKO mobile application;

11.4.6 to reverse all or part of a CiNKO Mobile Application Transaction; and/or

11.4.7 block your access to your CiNKO User Account and/or the CiNKO Mobile Application temporarily or permanently.

11.5 Whenever possible, CiNKO will provide you with relevant information in connection with the actions imposed, but we may not be able to do so in accordance with appropriate legislation, including to avoid disclosing protected third party information or interfering with the course of an investigation.

11.6 CiNKO Users participating in any promotional program, such as the Referral Program, are strictly prohibited from manipulating or abusing the program in any way. This includes, but is not limited to, self-referral (creating multiple accounts or referring oneself to earn referral bonuses), multiple account abuse (opening multiple accounts to take advantage of rewards or promotional offers multiple times) and misrepresentation (providing false or misleading information to exploit and promotional program or related promotional offers/rewards. Such activities shall be considered fraudulent acts and a breach of these Terms and Conditions. CiNKO reserves the right to investigate any suspicious activity and, at its discretion, suspend or terminate the User's account, revoke referral bonuses and take any legal action necessary to recover damages.

12. Limits of CiNKO transactions

12.1 We reserve the right to impose, in our sole discretion and in line with industry standards, transaction limits on all Transactions on the Mobile Application ("CiNKO Transaction Limits"). CiNKO reserves the right to determine any Transaction Limits, which limits need not be disclosed in advance.

12.2 CiNKO Users will be able to find more information about CiNKO's Transaction Limits on the CiNKO Mobile Application. CiNKO may, from time to time, provide you with procedures or methods to remove or increase such limits. We reserve the right to remove CiNKO Transaction Limits from the Mobile Application.

12.3 If a CiNKO User requests to make a Payment and/or Transfer from his or her CiNKO User Account that exceeds a CiNKO Transaction Limit, the User will be notified in the CiNKO Mobile Application that the intended Payment and/or Transfer exceeds the CiNKO Transaction Limit, and such Payment and/or Transfer request will be denied.

12.4 If the value of a recipient's Payment and/or Transfer request exceeds a CiNKO Transaction Limit, the funds will be held in a suspense account by CiNKO pending review and authorization. Funds held for exceeding transaction limits will be released to the recipient's CiNKO User Account within 24-48 hours, subject to any additional due diligence or compliance procedures that may be required.

13. Suspend the use of the transactions and services of the mobile application.

13.1 We reserve the right to modify, suspend or discontinue any of the Transactions and/or Services of the Mobile Application at any time, including the hours of operation or availability of the Services, without notice and without liability.

13.2 Confiscation of Fraudulent Balances. CiNKO reserves the right to retain or forfeit any balance in a CiNKO User Account if an investigation reveals fraudulent activity or misuse of the Mobile Application or the Services and Terms and Conditions associated therewith. A determination of fraud, based on CiNKO's discretion and investigation, may lead to forfeiture of any funds directly associated with the fraud. CiNKO will take reasonable steps to inform the account holder of the reasons for forfeiture. If there is no evidence of fraudulent activity, legitimate balances will be returned in a timely manner, subject to applicable legal and regulatory obligations.

14. General Liability

14.1 Users shall be liable for all losses incurred in connection with Mobile Application Transactions, including Payments and/or Transfers, which have not been authorized by the User if the User has acted fraudulently or has intentionally or by gross negligence failed to comply with the obligations set forth in Clause 10 (Security).

14.2 We will not be liable for non-execution or defective execution in relation to a Payment and/or Transfer which we have made pursuant to a unique identifier which you have provided to us and which proves to be incorrect. However, we will use all reasonable efforts to recover the funds involved in such a transaction and may charge you for this, including any fees charged to you by intermediary banks and/or the Intended Recipient's bank for their assistance in the tracing process.

14.3 We will not be liable for any loss suffered by Users for the correct execution of a Payment and/or Transfer if we can demonstrate to you (and, where applicable, to the Recipient's payment service provider) that the Recipient's payment service provider received the payment within the appropriate timeframe. However, at your request, we will endeavor to trace any unexecuted or defectively executed Payment and/or Transfer that was properly executed to an account that is deemed fraudulent and will notify you of any results of our search.

14.4 We shall not be liable to you for any:

14.4.1 delay or failure to perform our obligations under these Conditions (including any delay in payment) due to any cause beyond our reasonable control, including but not limited to any act or omission by you or any third party, any act of God, bank delay, postal delay, failure or delay of any facsimile or electronic transmission, any accident, emergency, act of God or any abnormal or unforeseeable circumstance; or

14.4.2 consequential or indirect losses (such as loss of profits or opportunities) which you may incur as a result of our failure to perform our obligations in connection with a Payment and/or Transfer.

14.5 You are responsible for all liabilities, financial or otherwise, incurred by CiNKO (acting as Account Issuer), a CiNKO User, or a third party caused by or arising from your breach of these Terms, your use of the CiNKO Services, and any use of your CiNKO User Account. You agree to reimburse CiNKO (acting as Account Issuer), a CiNKO User, or a third party for any and all liability, to the extent not prohibited by applicable law.

14.6 You remain liable under these Terms with respect to all charges and other amounts incurred for the use of your CiNKO User Account at any time, regardless of termination, suspension or closure.

14.7 You are solely responsible for understanding and complying with any and all laws, rules and regulations of your specific jurisdiction that may be applicable to you in connection with your use of the Services, including but not limited to those relating to export or import activity, taxes or foreign currency transactions. You are responsible to the State and others for compliance with all tax obligations on a stand-alone basis. CiNKO shall not be responsible for the fulfillment of tax obligations, nor for the calculation and transfer of taxes applicable to you.

14.8 You agree to defend, reimburse or indemnify us (known in legal terms as "indemnify") and hold harmless CiNKO, our third party providers, our employees or agents who are authorized to act on our behalf from any claim or demand (including legal fees) made or incurred by any third party due to or arising out of your breach of these Terms, violation of any law and/or use of the Services.

14.9 Nothing in these Conditions shall exclude liability for death or personal injury or for fraud or fraudulent misrepresentation or for any liability which cannot be excluded or modified by law.

14.10 In no event shall CiNKO be liable for any lost profits or any special, incidental or consequential damages arising out of these Terms or otherwise in connection with the Services, however arising.

14.11 To the extent permitted by applicable law, CiNKO is not liable, and you agree not to hold it liable, for any damage or loss (including, but not limited to, loss of money, goodwill, reputation, profits or other intangible losses or any special, indirect or consequential damages) resulting directly or indirectly from:

14.11.1 your inability to use the Services for any reason;

14.11.2 delays or interruptions in the Services;

14.11.3 viruses or other malicious software obtained by accessing the CiNKO Mobile Application or any associated site or Service;

14.11.4 faults, errors or inaccuracies of any kind in the Services;

14.11.5 the content, actions or inactions of third parties;

14.11.6 a suspension or other action taken with respect to your CiNKO User Account;

14.11.7 your need to modify practices, content or behavior, or your loss or inability to do business, as a result of changes to these Terms or CiNKO's policies;

14.11.8 illegal actions and operations of third parties carried out using forged and/or illegal documents or illegally received data.

15. Closing the account

15.1 Your CiNKO User Account will be closed at the end of the term of this Agreement pursuant to Clause 3.1 or upon termination of these Terms pursuant to Clause 20 (Modifications to these Terms) and Clause 23 (Termination). You agree that upon closure of your CiNKO User Account, CiNKO will store personal data about you and your Transactions through the Mobile Application for a period of five years.

15.2 If your CiNKO User Account maintains a balance of E-money at the time of closure, we may require you to withdraw your funds within a reasonable period of time, during which your CiNKO User Account will be accessible solely for the purpose of withdrawing the remaining balance of E-money. After the expiration of this period, you will not be able to access your CiNKO User Account, but you may withdraw the remaining funds for a period of six years from the date of closure of your CiNKO User Account by contacting customer service and requesting that the funds be sent to you by wire transfer. When your CiNKO User Account is closed, any pending transaction instructions will be cancelled. If the account is closed following evidence of fraudulent behavior, CiNKO reserves the right to withhold any balance in accordance with clause 13.2.

15.3 You may not close your CiNKO User Account to evade an investigation. If you attempt to close your CiNKO User Account while CiNKO is conducting an investigation, it may freeze your CiNKO User Account and access to the Services to protect all parties, including CiNKO, its affiliates, or a third party against any liability. You will remain liable for any obligations related to your CiNKO User Account even after it is closed.

16. Notification and communications

16.1 You agree and consent to the electronic receipt of all Communications we provide to you in connection with your CiNKO User Account as well as the Services. We will provide Communications to you by making them available to you on the CiNKO Mobile Application or by emailing them to you at the primary email address listed in your CiNKO User Account.

16.2 It is your responsibility to ensure that you log in and regularly review the CiNKO Mobile Application, the CiNKO website and your primary email address, as well as open and review communications we send to you through such means. You are obligated to review your notifications and CiNKO Transaction History, and to promptly report any questions, apparent errors or unauthorized Transactions on the Mobile Application. If you do not contact us in a timely manner, you may lose important funds or rights.

16.3 We may contact you from time to time to notify you of changes or information relating to your CiNKO User Account. It is your responsibility to ensure that you regularly check the CiNKO Mobile App and that your contact information stored in your profile on the CiNKO Mobile App is up to date. You may contact us in accordance with these Terms via email.

17. Data

17.1 The processing of your data is governed by these Terms, the applicable Supplements and our Privacy Policy.

17.2 CiNKO reserves the right to transmit Personal Information or data about you, as well as activity on your CiNKO User Account to law enforcement institutions, state authorities and financial institutions, if necessary to comply with relevant legislation, and in order to identify whether these Terms and relevant legislation have not been violated.

17.3 When you use the Services, we may collect precise location data about a Mobile Application Transaction. If you allow the CiNKO Mobile Application to access location services through the permission system used by your mobile operating system, we may also collect the precise location of your device when the CiNKO Mobile Application is running in the foreground or background. We may also obtain your approximate location from your IP address. You may opt out of providing location data through the CiNKO Mobile App. Unless you opt out of providing location data, you consent to the collection, use, sharing and transfer of location data as set forth in the Privacy Policy.

17.4 By providing CiNKO with a telephone number (including a cell phone number), you agree to receive automated calls and pre-recorded messages at that number. The ways in which you provide us with a telephone number include, but are not limited to, providing a telephone number at the opening of the CiNKO User Account registration, adding a telephone number to your profile in your CiNKO mobile application at a later time, providing it to one of our employees, or contacting us from that telephone number. If the phone number you provide to us is a cell phone number, you agree to receive SMS or text messages at that number for service-related matters.

17.5 We will not share your telephone number with unaffiliated third parties for their purposes without your consent and we will never market, advertise or solicit you using autodialed or prerecorded messages, but we may share your telephone numbers with our affiliates, third parties or with other service providers, such as billing or collection companies, who may contact you using autodialed or prerecorded messages or text messages.

17.6 You understand and agree that CiNKO may, without notice or warning and at our discretion, monitor or record telephone conversations that you or anyone acting on your behalf has with CiNKO or its agents for quality control and training purposes or for your own protection. You acknowledge and understand that, while your communications with CiNKO may be listened to, monitored or recorded without notice or warning, not all telephone lines or calls may be recorded by CiNKO, and CiNKO does not guarantee that recordings of any particular telephone call will be retained or retrievable.

17.7 You agree that we may use your Information in connection with your CiNKO User Account to enable us to review, develop and improve our products and services. This may involve providing your Information to our partners, affiliates, agents, distributors and suppliers to process Mobile Application Transactions and for their statistical research and analytical purposes. We may also disclose your Information if required by law, regulation or any competent authority or agency to investigate possible fraudulent, illegal or unauthorized activities.

17.8 You understand and agree that we may collect information about how you and other CiNKO Users interact with the Services. We may access your device address book and store names and contact information to facilitate social interactions through the Services and for other purposes. We collect details of transactions related to your use of the Services, including the type of service requested, the date and time the service was provided, the amount charged, and other details related to the transaction. We may collect information about your mobile device, including, for example, hardware model, operating system and version, software and file names and versions, preferred language, unique device identifier, advertising identifiers, serial number, device movement information, and mobile network information. You agree that we may use the information we collect to facilitate interactions with the Services, including sharing certain non-sensitive information about you with other CiNKO Users.

18. Intellectual Property

18.1 The CiNKO Mobile Application and the CiNKO Website and all intellectual property rights contained therein, including but not limited to any content, are owned or licensed by us. Intellectual property rights refer to rights such as: copyrights, trademarks, domain names, design rights, database rights, patents and all other intellectual property rights of any kind, whether registered or unregistered (anywhere in the world).

18.2 We reserve all our intellectual property rights in relation to these Terms. This means, for example, that we remain the owner of them and free to use them as we see fit.

18.3 Nothing in these Terms grants You any legal rights in the CiNKO Mobile Application and/or the CiNKO Website other than as necessary to enable You to access the Mobile Application. You agree not to adjust or attempt to circumvent or remove any notices contained in the CiNKO Mobile Application (including any intellectual property notices) and, in particular, in any digital rights or other security embedded or contained within the CiNKO Mobile Application.

19. Customer service and complaints

19.1 We take all complaints very seriously. Any complaints about CiNKO, the Transactions through the Mobile Application or the Services we provide should be directed to us by email. You should clearly state that you wish to make a complaint to us. This helps us to distinguish a complaint from a mere query. Our complaints procedure (available on our website, www.CiNKO.io) sets out the process for submitting and resolving any complaints. You can request a copy of our complaints procedure at any time by contacting customer services by email or by visiting our help page at https://help.CiNKO.io/en.

20. Modifications to these Conditions

20.1 These Terms may be unilaterally modified by us. Such modifications shall be deemed accepted by you if, prior to the proposed effective date of the modifications, you do not notify us to the contrary. If you notify us to the contrary, your notice to us will be deemed to be notice that you wish to close your CiNKO User Account and terminate these Terms on the date the changes are to take effect.

20.2 Where a modification to the Terms is required by law or relates to the addition of a new service, additional functionality to existing Services, a reduction in the cost of the Services or any other change that does not reduce your rights or increase your liabilities, the modification may be made without notice and will be effective immediately.

21. Fees

21.1 The fees we charge for the Mobile Application Transactions and/or Services are set out in the separate Fees and Pricing Section of these Terms. We will notify you of any changes to the Fees and Pricing Section in accordance with these Terms. It is your responsibility to stay informed and review these changes once we have notified you of a change in our fees.

21.2 CiNKO reserves the right to charge an Investigation and Recovery Fee when Users request assistance in reviewing, investigating or recovering disputed transactions, unauthorized account activity or other incidents requiring detailed examination. The amount of this fee will be determined by CiNKO based on the complexity of the investigation. Users will be informed of any applicable investigation and recovery fees at the time of their request, and all such fees are non-refundable, regardless of the outcome.

22. No warranty

22.1 The Services are provided "as is," "as available" and without any representation or warranty, whether express, implied or statutory. CNIKO, and CNIKO's officers, directors, agents, partners, employees and suppliers, make no representations or warranties of any kind for the Services or the content, materials, information and functions accessible through the Services used or accessed through the Services, or for any breach of security associated with the transmission of sensitive information through the Services.

22.2 CiNKO does not warrant that the Services will be uninterrupted or error free. CiNKO shall not be liable for any service interruptions, including, but not limited to, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of Mobile Application Transactions or the Services.

22.3 CiNKO has no control over the products or services that are paid for using Transactions and/or Mobile Application Services.

22.4 CiNKO is not responsible for the quality, performance, or any consequential results of products and/or services purchased using the CiNKO Services.

23. Cese

23.1 CiNKO, in its sole discretion, may terminate these Terms at any time upon two months' notice to you. Termination of these Terms will not affect any of our rights or your obligations under these Terms.

23.2 You may terminate these terms at any time by giving us one month's notice by email.

23.3 Without prejudice to any rights acquired under these Conditions, or to any other rights or remedies of either party, either party may at any time terminate these Conditions with immediate effect by notice in writing to the other party if:

23.3.1 the other party commits a material breach of any of the terms of these Conditions and (if such breach is capable of remedy) fails to remedy such breach within 30 days of being notified in writing that it is required to do so;

23.3.2 the other party repeatedly breaches any of the terms of these Terms in such a manner as to reasonably justify a view that its conduct is inconsistent with its having the intention or ability to give effect to the terms of these Terms;

23.3.3 the other party is subject to bankruptcy, insolvency, liquidation or other similar proceedings; and/or

23.3.4 the result of laws, payment system rules, rules or guidance of regulatory authorities or any change or introduction thereof (or change in the interpretation or application thereof) means that it is unlawful or contrary to any such laws, rules, orders or regulations for either party to perform or give effect to any of its obligations hereunder and such obligation is not readily severable from these Terms.

23.4 Without prejudice to any rights which may have accrued under these Conditions or any rights or remedies of the parties, we may at any time terminate these Conditions with immediate effect by giving you written notice if:

23.4.1 we are unable to verify your information in the manner set out in these Conditions;

23.4.2 deaths;

23.4.3 we have reason to believe that your use of the Services: damages, corrupts, degrades, destroys and/or otherwise adversely affects the Services, or any other software, firmware, hardware, data, systems or networks that you access or use;

23.4.4 there is a significant fluctuation (either positive or negative) in the total number of transactions made with the mobile application;

23.4.5 you have acted or omitted to act in any way which we reasonably determine diminishes the business operations and/or reputation and/or goodwill of CiNKO (acting as Card Issuer or otherwise) and/or which we reasonably determine or suspect gives rise to any criminal offence or any increased risk or liability to us; and/or

23.4.6 we are unable to provide the Services to you due to the inability of a third party to provide us with any goods and/or services that we need to provide the Services to you.

23.5 Other Actions We May Take. If you have breached any of these Terms (including a breach of your obligation to pay us any amounts due), we will be entitled to terminate these Terms, or we may, among other things suspend or limit your access to the CiNKO Mobile Application, suspend or limit your use of the Services (in whole or in part) in which case we will not treat any request for a Transaction through the Mobile Application that you wish to make as having been received by us; report any Transaction through the Mobile Application or any other relevant information about you and your use of the Services to the relevant regulatory authority, law enforcement agency and/or government department; and/or if applicable, seek damages from you.

23.6 Where termination of these Terms requires the closure of your CiNKO User Account, CiNKO will treat your remaining E-money balance in accordance with these Terms and CiNKO's Account Holder Terms (as applicable).

23.7 All terms which by their nature should survive the termination of these Terms shall survive the termination of these Terms.

24. Miscellaneous

24.1 In order to use the Services, you may be asked to agree to other terms and conditions, either with CiNKO or with a third party.

24.2 In order to use the CiNKO Services, you must:

24.2.1 pass our regulatory due diligence checks which may be imposed from time to time at our sole discretion;

24.2.2 not to be in breach of these Conditions; and

24.2.3 not have had any previous CiNKO User Account closed by us.

24.3 These Conditions shall be governed by the laws of The Bahamas, and or any other jurisdiction determined by us from time to time to be applicable, and any claim or dispute under these Conditions shall be subject to the non-exclusive jurisdiction of the Courts of The Bahamas and or any other jurisdiction determined by us from time to time to be applicable in accordance with the applicable operating rules.

24.4 For the avoidance of doubt, these Terms do not include any alternative dispute resolution procedures as a means of contesting or issuing claims in relation to these Terms.

24.5 These Terms are not intended to confer any benefit on any third party and no third party shall be entitled to enforce these Terms.

24.6 The Electronic Money in your CiNKO User Account belongs to the natural or legal person who is registered as the CiNKO User Account holder and/or whose personal data is used to register and open the CiNKO User Account. We only recognize the rights of the CiNKO User Account holder. You may not assign or transfer legal ownership of a CiNKO User Account to any third party.

24.7 If we do not enforce any of our rights under the Terms or applicable law, this shall not be deemed to constitute a waiver of such right.

24.8 You may not transfer or assign or sell any right or obligation you have under these Terms or grant any third party a legal or equitable interest in your CiNKO User Account without CiNKO's prior written consent. CiNKO reserves the right to transfer or assign these Terms or any rights or obligations under these Terms at any time.

24.9 We may comply with any subpoena, summons or other legal process that we consider valid. We may serve such process on you electronically, by telephone or in writing, or in accordance with Clause 16 of these Terms.

24.10 CiNKO (acting as Electronic Money Issuer or otherwise) has the right to change any of its third party service providers, including without limitation the Account Processor, with or without prior notice.

24.11 CiNKO reserves the right, but shall have no liability, to edit, modify, refuse to post or remove any Provider Content, in whole or in part, that in its sole and absolute discretion is objectionable, erroneous, unlawful, fraudulent or in violation of these Terms.

24.12 Unless otherwise stated in these Conditions, if any provision of these Conditions is held to be invalid or unenforceable, such provision shall be deleted from the Conditions and shall not affect the validity and enforceability of the remaining provisions.

24.13 We do not provide financial, investment or other advice, and we contract solely on an execution basis. We may provide you with information from time to time, for example through the CiNKO mobile application or the CiNKO website, but we will not and do not provide you with advice on the merits of a proposed transaction through the mobile application or on any other related service or matter.

24.14 Before entering into any Mobile Application Transaction, Users must make their own independent assessment as to the appropriateness of entering into such Mobile Application Transaction, based on their own judgment and the advice of such advisors as they deem necessary.

24.15 It is an express term of each Mobile Application Transaction you enter into with us that you are not relying on any communication (written or oral) made by us as constituting advice or a recommendation to enter into such Mobile Application Transaction.

24.16 Any Schedule to these Conditions forms part of these Conditions and shall have effect as if set out in full in the body of this contract. Any reference to this contract includes the schedules.

24.17 Reference to a company shall include any company, partnership or other corporate entity, wherever and however incorporated or established.

24.18 Unless the context otherwise requires, words in the singular shall include the plural and words in the plural shall include the singular.

24.19 Unless the context otherwise requires, a reference to one gender shall include a reference to the other genders.

24.20 These Conditions shall be binding upon and inure to the benefit of the parties to these Conditions and their respective personal representatives, successors and permitted assigns, and references to any party shall include that party's personal representatives, successors and permitted assigns.

24.21 Any reference to a law or statutory provision shall be construed as referring to the same as amended, extended or re-enacted from time to time.

24.22 Reference to writing or in writing includes electronic mail, as well as communication governed by clause 15 (Notification and Communications).

24.23 Any obligation on a party not to do something includes an obligation not to permit it to be done to the best of its ability.

24.24 These Conditions shall be concluded and construed in the English language. If these Conditions are translated into another language, it shall be for reference purposes only. All communications between the parties shall be in the English language.

24.25 Any reference to an English legal term for any action, remedy, method of judicial proceeding, legal document, legal status, court, official or any legal concept or thing, in respect of any jurisdiction other than The Bahamas, shall be deemed to include a reference to that which most nearly approximates the English legal term in such jurisdiction.