1. Acceptance of Terms
By downloading, installing, or using the Payfazt mobile application ("App"), you agree to be bound by these Terms and Conditions ("Terms"). If you do not agree to these Terms, please do not use the App.
2. Eligibility
To use Payfazt, you must have a valid UK bank account and a mobile phone number. By using Payfazt, you represent that you meet these requirements.
3. Account Registration
You are responsible for maintaining the confidentiality of your account credentials, including your PIN and biometric authentication settings. You agree to notify us immediately of any unauthorised use of your account.
4. Services
Payfazt enables you to send and receive money to other users or directly to bank accounts, request payments from individuals or groups, and discover nearby users to pay. Payfazt is a technology platform facilitating these transactions and is not a bank or financial institution.
5. Transactions
When you initiate a payment through Payfazt, you are securely redirected to your bank to authorise the transaction in line with PSD2 Open Banking guidelines. Payfazt does not process or hold your funds at any point. Once a transaction is authorised through your bank, it cannot be reversed through Payfazt. You are responsible for ensuring that payment details (recipient, amount) are correct before authorising.
6. Fees
Payfazt may charge fees for certain services. Any applicable fees will be clearly disclosed before you confirm a transaction. We reserve the right to modify our fee structure with prior notice.
7. Prohibited Activities
You agree not to:
- Use the App for any illegal or unauthorised purpose.
- Engage in fraudulent transactions or money laundering.
- Attempt to gain unauthorised access to other users' accounts.
- Interfere with or disrupt the App's functionality.
- Use the App to send or receive payments related to prohibited goods or services.
- Create multiple accounts or impersonate another person.
8. Privacy
Your use of the App is also governed by our Privacy Policy, which describes how we collect, use, and protect your personal information.
9. Intellectual Property
All content, trademarks, logos, and intellectual property displayed in the App are owned by Payfazt or its licensors. You may not reproduce, distribute, or create derivative works from any content without our prior written consent.
10. Limitation of Liability
To the fullest extent permitted by law, Payfazt shall not be liable for any indirect, incidental, special, consequential, or punitive damages arising from your use of the App, including but not limited to loss of profits, data, or goodwill.
11. Account Suspension and Termination
We reserve the right to suspend or terminate your account at any time if we believe you have violated these Terms, engaged in fraudulent activity, or pose a risk to other users or our platform.
12. Modifications to Terms
We may update these Terms from time to time. We will notify you of material changes through the App or via email. Continued use of the App after changes are posted constitutes your acceptance of the revised Terms.
13. Governing Law
These Terms are governed by and construed in accordance with the laws of England and Wales. Any disputes arising from these Terms shall be subject to the exclusive jurisdiction of the courts of England and Wales.
14. Contact Us
If you have any questions about these Terms, please contact us at:
Email: support@payfazt.com