§1 General Provisions
1.1 Definitions
- Merchant - an entity that is a customer of PAYLIFT FINANCE LTD. (prev. FASTWIRECO LIMITED), regulated by FINTRAC (License No. C100000297), for whom and on whose behalf payments are made.
- Payer - an adult individual, legal entity, or authorized entity making payments for goods or services offered by the Merchant.
- Fiat currency - government-issued currency whose value is not based on a physical commodity.
- Virtual currency - a digital representation of value that is not legal tender issued by a central bank.
- Service - enables the Merchant’s clients to pay for goods or services in fiat currency while the Merchant receives virtual currency.
1.2 The Regulations define the rules for the provision of services by PAYLIFT FINANCE LTD., registered at 1504-329 HOWE ST, VANCOUVER, BC, CANADA, and regulated by FINTRAC as a Money Services Business.
§2 Merchant Access
2.1 The Merchant must successfully complete the risk and due diligence review, including verification of corporate structure, business model, and authorized representatives.
2.2 Upon successful review, access to the Merchant Portal and APIs is granted.
2.3 PAYLIFT reserves the right to reject Merchants engaged in unlawful activities, regulated industries without necessary permits, or associated with politically exposed persons or sanctioned individuals.
§3 Service Use
3.1 The Merchant agrees to use the Service exclusively as authorized and in compliance with applicable regulations.
3.2 The Merchant is responsible for correctly creating and managing payment links.
3.3 PAYLIFT bears no responsibility for losses caused by external operators, service interruptions, or errors introduced by the Merchant.
§4 Service Nature
4.1 The Service operates on an ongoing basis and settles transactions on business days via a collective cryptocurrency transfer. The applicable transaction fee will be disclosed within the Merchant Portal.
4.2 Settlements occur following the D+1 schedule, considering the applicable Canadian business days.
§5 Liability
5.1 The Merchant assumes responsibility for accurate data entry and compliance with regulations.
5.2 PAYLIFT’s liability is limited to failures arising from its control and excludes delays or errors caused by external systems.
5.3 PAYLIFT is not liable for consequential losses arising from technical interruptions, network delays, or unauthorized access.
§6 Personal Data Protection
6.1 PAYLIFT processes personal data per its Privacy Policy, available on the Company’s website, in compliance with Canadian privacy legislation.
§7 Intellectual Property
7.1 All IP, trademarks, and materials made available by PAYLIFT remain its sole property.
7.2 The Merchant is granted a limited right to use these materials exclusively for utilizing the Service.
§8 Complaint Procedure
8.1 The Merchant may lodge a complaint electronically or by mail, including transaction ID(s), phone number, subject, and circumstances.
8.2 PAYLIFT will review complaints within 30 days, extending to 60 if necessary.
8.3 The Merchant may appeal any decision within 30 days of its receipt.
§9 Technical Requirements
9.1 The Merchant must use a device with internet access and a compatible browser supporting JavaScript and Cookies.
9.2 PAYLIFT may update its Services periodically and will notify the Merchant in advance
9.3 Temporary suspension of Services for maintenance or technical review may occur as required.
§10 Changes to Regulations
10.1 PAYLIFT may modify these Regulations with a notice period of at least 7 days.
§11 Applicable Law
11.1 The agreement between the Merchant and PAYLIFT is governed by the laws of Canada.
11.2 Disputes arising from these Regulations will be resolved by the courts of British Columbia.
11.3 Alternative dispute resolution methods, including online platforms, are available.
§12 Final Provisions
12.1 By accepting these Regulations, the Merchant acknowledges and agrees to the terms and conditions set forth.
